Hi there!
I was wondering if some of you have visited this property.
I really like it but considering the current housing market I think pricing is WAY WAY OFF. I mean certainly it’s a good location and if you compare to some developments in Center City it’s fine, but unless you make more than 110k year, there’s no tax advantage.
Just let me know your thoughts I appreciate it!
Alex

Curious - why is there no tax advantage unless you are making more then 110k? The city wage tax is the same no matter what you make, no?

In regards to The Grande, I would have to agree. They have some very nice "extras" (granite, stainless steel appliances, etc) but they are priced for 2002, not 2008. What I can tell you is that from my view (limited, just a Conshy resident who drives it everyday and notices the For Sale signs) there does not appear to be a "glut" of homes on the market, so maybe the builder is trying to keep prices as high as possible taking into account that Conshy is still a attractive place to live.

It's all about supply and demand. Suggest you go visit and maybe you can strike a deal, everything negotiable. If they have a glut of places they need to dump, you never know!

Good luck!

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Well in terms of taxes you'd for a property of 300k about $5000 year (roughly) Working outside city. Now if you earn 100k year and you live in the city your wage tax should be 4300K/year. and no tax for one year...plus you skip all the escrows for taxes.

I really like it but a good buy would be 15% below asking price.

what are the condo fees there?

$284/per month

these have been listed for a while, whose to say you can't get a good deal on one?

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I dunno, but myb they have to keep the list price the same. Or prefer to. That avoids complaints from people who bought a year or two ago for higher. (Similar to when the Ipod lowered their price & people complained who already bought it). But if people bid low, they might agree to the sale.


Also, people usually don't move out of the city for tax advantages.... they move out of the city to get out of the city (Better schools, prefer the area, more parking, less shootings etc).

I am curious about these condos. What does the $284 cover? I assume it doesn't include heat?

I have never lived in "new construction" and am wondering if anyone knows about the quality of these places, or the quality of the builder's other properties - I think it's D.R. Horton?

I'm in a 1928 twin, and sometimes think that the new construction route might not be a bad one, but I don't know the pitfalls of this type of building, or whether the condo fees can skyrocket.

I like the idea of the Grande; it's new, but in an older area. Near the water is nice...and it has a pool?!

The condo fees are $284 now? I was there in June 2007 and the condo fees were $211 at that time. Looks like they raised both the condo fees and the condo prices. The Dresher model was $256k and now it's $273K. I've noticed every time they finish another buliding and release that building for sale, they raise the prices.

They are planning on having 3 buildings at The Grande. When I was there in June 2007 they told me that construction of the 3rd building was going to start that summer. I work directly next door and pass by the area where the 3rd buliding is going to be everyday on my way to work and there's not a thing done there. There haven't even been any workers over there for months and months.

When I leave work at night - around 5pm-6pm there are hardly any lights on in building 1 or 2. I'm amazed that The Grande keeps raising their prices in this market. It's completely ridiculous.

For anyone who is wondering - there is an inground pool in the middle of building 2. There is going to be a gym in building 3. As far as I know only water is included in the condo fees.

If you go to buy, make sure you get an attorney to look over the paperwork, etc. These people just keep raising the prices.

Nice place, new construction and all that. Nice granite countertops, stainless steel appliances, ... no complaints about the quality of construction. A few minor issues around the complex but D.R. Horton is pretty responsive to those.

Condo fees went up from $211 to $286/month. Probably because buildings have not sold out and costs must be prorated. Fees cover typical things like garbage, water, landscaping, elevator maintenance, common areas, ...etc. They don't include electric/heating or gas.

Location is pretty good, convenient to 76 and the blue route. Also right on a running/bike path and main street on conshy.

Now the interesting bits- complex was to include 3 buildings, but the third of which was an option for the builder. So in a slow market (i.e. now) the builder can choose to postpone or not build third building. This is a bitch sketchy though as it was to contain the advertised fitness center, and as mentioned can have an effect on the condo fees.

In terms of pricing, my take on this is that this complex is hit by the overall slowdown in real estate, and the market value of these places has gone down slightly. But as you mention it seems that the builder has not lowered prices (perhaps not to upset current residents), and hence sales have slowed down. I would estimate building 1 is mostly full, and building 2 is less than half full.

If I were looking to purchase now, I would certainly look for some rebates or reductions to the list price. Perhaps ask for the options to be free or ask the builder to pay for closing costs. This way they can close the deal without lowering the 'list' price.

In terms of the tax comparison, not sure I understand the earlier points there. You certainly avoid city wage tax. The local wage tax is about .5%. You do not get a property tax abatement, as you might in certain new complexes in the city.