Nov 2nd 2009 10:52AM Anyone that sniffs at PA has never been to the Main Line.
I live in this neighborhood - it is the kind of place in which a $2 million home can be a tear down because the land is scarce. What you are paying for here is an intact estate that could have been sub-divided to have contained 3 or 4 homes in the $3 to $4 million price range. Because of scarcity, the Main Line has not been hit by the real estate crash - land here is ALWAYS a good investment. You are paying for privacy and exclusivity. I don't think they will get this price. (This is actually a new home on an old lot - you aren't paying for history) But I hope they get close.