http://chestercountyrealestateguide.com/market-update/year-in-numbers-for-the-chester-county-real-estate-market/ A blog about Chester County, with a focus on real estate Wed, 06 Oct 2010 23:13:20 -0500 hourly 1 http://wordpress.org/?v=3.0.4 http://chestercountyrealestateguide.com/market-update/year-in-numbers-for-the-chester-county-real-estate-market/comment-page-1/#comment-163 Lauren Mon, 22 Feb 2010 03:57:19 +0000 http://chestercountyrealestateguide.com/?p=718#comment-163 Hi, Chris (I know your wife, April, from a youth group back in the 90's) :) I would be interested in any statistics for chester county (specifically new homes in Chester Springs) statistics because I purchased a new townhome in mid-2008 and it has since plummeted in value to roughly 25,000 less (~10%) than purchase. This has made refinancing extremely difficult for my neighbors and I. The community is finally finishing up its construction and sales, but many of us our shocked because we assumed we were purchasing in a somewhat stable zip code (Chester Springs) and we were supposedly receiving a non-advertised $30,000 dollar builders' incentive at purchase (our neighbors who purchased in 2006 had values plummet even worse). If you look at sales prices in this community from 2006 to now, you can see ~ 15%-20% decline! Is this unique to our builder's (Orleans) desire to complete our community, and if so, will this translate to a quicker than average turnaround when the community's last home is sold? I think many of us expected some depreciation, but not to this degree. Many of us were first-time buyers, so all declines have been cash out of our pockets (never leveraged profit from a previous home). Any insight to our future? :) Hi, Chris (I know your wife, April, from a youth group back in the 90′s)
I would be interested in any statistics for chester county (specifically new homes in Chester Springs) statistics because I purchased a new townhome in mid-2008 and it has since plummeted in value to roughly 25,000 less (~10%) than purchase. This has made refinancing extremely difficult for my neighbors and I. The community is finally finishing up its construction and sales, but many of us our shocked because we assumed we were purchasing in a somewhat stable zip code (Chester Springs) and we were supposedly receiving a non-advertised $30,000 dollar builders’ incentive at purchase (our neighbors who purchased in 2006 had values plummet even worse). If you look at sales prices in this community from 2006 to now, you can see ~ 15%-20% decline! Is this unique to our builder’s (Orleans) desire to complete our community, and if so, will this translate to a quicker than average turnaround when the community’s last home is sold? I think many of us expected some depreciation, but not to this degree. Many of us were first-time buyers, so all declines have been cash out of our pockets (never leveraged profit from a previous home). Any insight to our future?

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