R5Realty

Ted Gross - Realtor

Long & Foster Real Estate, Inc.

Haverford, Havertown, Devon, Center City

Direct: 610.348.79.72
Ted@R5Realty.com

Price Reduction Battle: South Ardmore Park Homes Duking it out

Price Reduction Battle: South Ardmore Park Homes Duking it out

Two desirable homes on South Ardmore Park are duking it out in a price reduction race to attract a springtime buyer to this quite awesome Lower Merion location.

Both Ardmore/Wynnewood area homes are within a softball’s throw of this vibrant, large, child-friendly park, and had nearly 5% price reductions on Saint Patrick’s Day.
Click either picture below for detailed listing information and photos of each home.

1524 James Rd.: 400k, Listed by ReMax

1524 James Rd.listed by ReMax, went from $425,000 to $400,000. It has 3beds/2.5 baths and includes central air and some updated features. James Rd, runs right next to the park but this house is on the opposite side of the street so does not front directly.

But 444 E. Spring does front onto the park.  It was just reduced  from $450,000 to $430,000, and is listed by Berkshire Hathaway, While Spring has the view of the park, it’s a bit smaller than James at 1296 sq ft  vs 1408 sq ft and lacks the extra full bath upstairs.

444 E. Spring listed by BHHS at430k.

The discerning buyer will note; however, MLS indicates taxes on the James house are an extra $1500+ annually (6435 vs. 4850) as 1524 James is in Wynnewood 19096, while 444 E. Spring is right on the edge of Ardmore 19003 and lower taxes. Kind of stunning given the houses are only about a half-block from each other.

So what’s the value?  518 E. Spring sold about Thanksgiving time for $400,000.  At 2162 sq ft it was much larger than 1524 James and 444 E. Spring, but its proximity to Haverford Rd. and extra block walk to the park had less appeal.

1524 James Rd. is a very recent listing, so the big jump from 425k to 400k so shows motivated sellers. 444 E. Spring began its listing life shortly after Labor Day 2014 and has meandered downward from 490k.

My bet is 1524 James attracts the first buyer. Despite higher taxes and somewhat less dynamic location, sellers appear most motivated and that extra bath upstairs is going to be hard to resist for a family comparing these two excellent properties that are slotting into buy range.