One of the truly great reasons I live and work in Havertown is not just the great people here, it is the great value. Although the market is not great now the values on home sales have remained high and actually have increased the median sales price in the township significantly more than last year!
Now, to tell you the truth that was a little bit of a shock to me also. At the beginning of this year, 2010, we saw an increase in activity with a lot of higher priced new constructions and rehabs sold.
(see blog 3/12/2010)
After the tax credit expired at the end of April, the market came to what felt like a screeching halt. (see blog 7/12/2010)
So now? Well there is no doubt that there are less buyers and more inventory. People are very tentative because of the economy. Those borderline buyers and sellers are going to sit on the fence til this economy starts to move. A catch 22, because what normally starts an economy from recession is the housing market.
When the market becomes affordable thats when the smart money comes out. Now the smart money takes its time and in a market with such a glut of inventory some of the smart money wants perfection! There are a lot of homes out there that have come down in price to compete but are not selling because they need someone to make an investment in them. Will the investment payoff? That is for the savvy money! Right now is the time for first time buyers and hard workers to make an investment in this community and themselves. Five years from now people will be calling those who bought now the lucky buyers. When the truth will be these were truly the wise buyers.
When it comes to Havertown Real Estate when you put the firstpart of this blog, rising values, together with the prospect of affordable investments you have some great opportunities. If you already live here you know what a great community we have. If you don’t and would like to make a wise investment in your future, this is a great place to live, especially financially!
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