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April 23, 2014

Still A Buyer’s Market, But Costs Millions To Enter

Philadelphia Sunday Inquirer | (excerpt)

Generally, the inventory of properties in the $1 million range and above is still at a relatively high level in the Philadelphia region’, said Steve DiFrancesco, president of Hunter, Reed and Company Inc, a firm that specializes in marketing estates and large landholdings. DiFrancesco’s firm completed the sale of Marlborough Farm, a 55-acre site in Willistown Township last year. The property was sold in six months. That was an exception, he admits, but said classic properties will sell, even in this market. According to DiFrancesco, “Even in a soft market, trophy caliber properties are highly sought after and will continue to attract high net worth buyers…