Why are properties in chester price lower then all surrounding areas?

Asked by Larry Sheppard, York County, VA Wed Dec 3, 2008

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This question is about this property: http://www.trulia.com/property/1071880748-4600-Tosh-Ln-Chest…

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Rich Schiffer, , 19081
Wed Jan 14, 2009
Your question was about this property:

http://www.trulia.com/property/1071880748-4600-Tosh-Ln-Chest…

which is in Chester, Virginia.

The question was for some reason posted in the section about Chester, Pennsylvania. (Which was presumably the basis for the answers relating to Chester, Delaware County, PA.)

I was about to add my 2 cents to what Aleshia and Kevin said, but once I saw that the area in question was in Virginia, I figured that what ever I had to say wouldn't be worth 2 cents anyway.

Good luck, wherever you are looking!
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Kevin, , Media, PA
Tue Jan 6, 2009
Great observation Larry, I have not looked at the stats in Chester but all of Delaware County is only down by 2.7% over 2007 in terms of sale price. The differences in the prices in Chester versus the surrounding areas are a function of "perceived value" to buyers. Everyone has their own perception of value when buying just about anything, some buy on price, some buy on quality, some buy on service. Where home prices are higher it is generally an indication that there is greater value in another form such as quality or service, where quality and service are lacking, you will generally find lower prices.

Best of luck,

Kevin
0 votes
Aleshia Shor…, , 19063
Tue Jan 6, 2009
All home prices are driven by the market for the homes.. What are people willing to pay to live in that locale, how much inventory exists compared to the amount of demand. The former is often a function of proximity to jobs and the allure of the schools in the area. If you are looking for a home in Chester, PA feel free to email me so that I can assist you.

Best wishes, Aleshia
aleshia@aleshiashorter.com
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