Philly Housing Market (Chester, Drexel Hill, Pottstown: where to stay, real estate market, foreclosure)

[3baddogs]

We are relocating to the Philly area this spring and trying to research areas to purchase a home in. The Chester and Delaware counties look to match what we are looking for. Can anybody let me know how the home market is within these areas. Any idea on what most houses end up selling for in comparison to their asking price. I've read in some areas that homes in certain markets are getting 80% of asking price. We are looking for a 4/2.5 house under $300K.

[PARelo]

Unfortunately you won't find many matches, if any in those counties unless you get an older townhome if that's ok with you. You may have better luck in the North part of Montgomery County like Pottstown or Berks County.

[samsmith]

Philly is high crime, neighborhoods are getting worse and very few good areas. If you find out, consider the great demand for it, so you won't get what you want close to center city.

Further out, in pottstown, up 476 as you go closer to allentown, and west in the downingtown area is where you will get what you are looking for. Unfortunately these are aslo the worst hit because of the extra houses, very very high foreclosure rates, so owning a home there is financially not sound.

[Icy Tea]

Try Berks, its certainly in your price range. A new 4 BR 2.5 2 car should go for that in a new development or an existing one. Eastern Berks is within an hours commute to KOP. The real estate market here is as solid as anywhere in Pa although they are making efforts to stop new developments from burdening already overtaxed schools. You won't get any cut rate bargains but taxes and prices are still cheaper than areas closer east.

[MReiser]

Originally Posted by samsmith

Philly is high crime, neighborhoods are getting worse and very few good areas. If you find out, consider the great demand for it, so you won't get what you want close to center city.

Further out, in pottstown, up 476 as you go closer to allentown, and west in the downingtown area is where you will get what you are looking for. Unfortunately these are aslo the worst hit because of the extra houses, very very high foreclosure rates, so owning a home there is financially not sound.

I'm sorry, but I disagree with almost everything you said here. I thought we had someone asking for help regarding the housing market in Delaware & Chester Counties? I'm sorry, but I don't think you added any information to the discussion here.

Do you have any insight on the actual question?

[Reinheitsgebot]

Several of my colleagues live in Drexel Hill (Delaware County) and absolutely love it. They do have grown children though.
I hear good things about Media (Chester) from second hand sources, but the obvious benefit there is two different SEPTA routes into the city and access to the Blue Route (476) if you work in the KOP area.
I commute to University City and we're considering the areas from Malvern (Chester) westward.

[Pat_in_Pa]

"We are looking for a 4/2.5 house under $300K."

Can you describe the reason you were thinking of Chester and Delco? Commuting? Family? Other__________?

[mirancs8]

Drexel Hill, Havertown you may find something that's your fit but it might be a twin or row at that price range. The closer to the city the cheaper and sometimes smaller the house. As you move out towards Marple Township, Main Line areas and Chester county it starts to higher in price. If you have kids be sure to look deep into the schools (if you are doing the public school route) because it varies from one town to the next with in the counties.

Montgomery county such as Lansdale is great too but again it might be a twin or row at that price.

Good luck!

[samsmith]

MReiser I was referring to the advice PARelo gave the poster, he said go down 476/422/202 and get cheaper housing. Now what part did you disagree with?

crime
anything house close to center city is overpriced (mainline)
Up 476/422/202 you get cheaper housing, but there is a glut available. People are unable to sell and those who are selling are selling at much lower prices. Foreclosure rates at these over developed areas are super high, and builders overbuilt.

I believe the poster will find what they are looking for, but as a new person they need perspective and knowledge about where to stay away from.

Originally Posted by MReiser

I'm sorry, but I disagree with almost everything you said here. I thought we had someone asking for help regarding the housing market in Delaware & Chester Counties? I'm sorry, but I don't think you added any information to the discussion here.

Do you have any insight on the actual question?

[Multitasker Too]

BadDog,

You are going to have a hard time finding a home in DE/Chesco for this, unless perhaps you head out to Coatesville or deep Chester County. Even then, it will be an older home/fixer upper.

Delaware and Chester Cos are huge...can you tell us a bit more about your criteria, such as where you work near, if good schools are a requirement?

If you could bump up your price to about $350K, you would have significantly more options, though still pretty far out from the city itself. Otherwise, you'll be lucky to find a decent 3/1.5 for that price.

Our market is not that hard pressed, though it's certainly off it's Glory Days of bidding over asking.