Drexel Rd Overbrook Foreclosure Philadelphia PA

Drexel Rd Foreclosure Overbrk Philadelphia PAWelcome to Drexel Rd located in the Overbrook Section of Philadelphia PA.  This is another of Danielle Mateu’s upcoming foreclosure listings.

The home is a nice relatively newer construction property located in Philadelphia. I wanted to include this home since it is also a great example of a rare six level split. The home is situated in a convenient location just two blocks south of Lancaster Avenue, and City Line Avenue is just a few blocks west. This provides easy access to the Main Line, downtown Philadelphia, and most of Delaware County both by street and rail connections.

The home itself is a 3 plus bedroom 3 bath split level home. As you will see in the video, you have plenty of space to possibly add additional bedrooms or reconfigure space to various uses. As with any foreclosure, there will be no disclosures, and any buyer should be prepared to do their own inspections to ascertain the present condition of the home. In any older property, there could be potential problems with deferred maintenance, environmental issues, and general wear and tear that a future owner must be prepared to address upon settlement, and several areas are apparent even on a quick inspection. The attached video will provide a feel for the flow of the property:

The real estate market in the immediate Overbrook area has generally followed the same sales pattern that we have been seeing in Delaware County. Activity in the immediate area peaked in 2005 with 14 single family residence sales (averaging $465,000), while the average sales price peaked in 2006 at $535,000 with 6 sales. Since then there were 8 sales in 2007 with an average price of $459,000 and 7 sales in 2008 at an average of $452,000.

Today, there are an additional 4 homes currently on the market with an average list price of $519,000, and no sales are pending. In 2009 year-to-date, there have only been 4 sales in the immediate area with an average price of $271,000. Two of these were also foreclosure properties with one selling for $219,000 and the second going for only $73,000. Drexel could be another lower cost property.

With its preferred location, generous space, and expected competitive price, this could be a great opportunity to move into the area. This is also another good example of the wide variety of foreclosure properties found in the area. As always, if you have any questions or need any additional information, please do not hesitate to contact me anytime.

(All statistics are per the TrendMLS System and believed accurate but not guaranteed)

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