Market Conditions in 19111>Question Details

Pat Sicilia, Other/Just Looking in Fox Chase/ Burholme,...

My husband talked to a realtor, and plus we know what people down the street got a couple years ago.

Asked by Pat Sicilia, Fox Chase/ Burholme, Philadelphia, PA Sun Mar 1, 2009

It was $240,000. and since we are the corner property, our house is bigger and we have the view of the park, it's in good shape and the kitchen is gorgeous. This area is considered Fox Chase, not Burlholme. In 2000, our attached neighbors paid $212,000, but that was at a discount because the sellers needed to get rid of it.

We always keep track of what the houses on our street go for.

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Hi Pat,

I'm not sure I understand what your question is exactly so all I can say is that you have to forget what happend a couple of years ago. It's a whole new ball game now. The market has changed dramatically.

I don't care what any other Realtor comes on here and tells you, they can't tell you how much your home is worth today without coming out to see your home. They can give you numbers of how much other homes in your area sold for within the past two months but it wouldn't be very accurate or pertain to your individual home.

My advice would be to have a Realtor come ot your home and give you a home value report.

You just have to be open to "hear" what they are saying and accept it. If you do not want to have a Realtor come out and give you a home value report, your other option is to hire an appraiser who can come out and tell you how much your home is worth.

If you are interested in having a Realtor come out to your home and give you a home value report, I would love to talk with you to see if I would be the right Realtor for you.

Feel free to email me or call me at (215) 669-0589.

Renee Porsia
Associate Broker
(215) 669-0589 Direct
(215) 358-1100 Office Ask for Renee Read my latest blog now.
2 votes Thank Flag Link Sun Mar 1, 2009
So are you saying that your home is worth a lot more than the something which was sold TWO YEARS ago? Have you had an agent look at RECENTLY sold homes in the area? Also you are throwing in a home which was sold NINE YEARS ago? I'll bet that if you look hard, you might see a home which is exactly likes yours which was sold very recently and for over $400K. The location, however, was in California. You can compare your home to that one, right?

So..... what's the question?

Terrence Charest, e-Pro
1 vote Thank Flag Link Sun Mar 1, 2009
Hi Pat, I forgot to mention the sellers impression and value feeling about their home. Most sellers know their home very well, and they like it, and so they should. But they do not look at it with the critical eye of a Realtor or the critical eye of a potential buyer......

On the other hand, You the seller, once you are looking for another home, you though will look at all the details of that home your are viewing and you will see everything, all you like and all you do not like as much or you feel needs changing, replacing or fixing. Just remember any buyer walking into your house, will do so with their own ideas of what they like and they do not what they would change etc. So that's why we are saying your home is worth what a ready and willing buyer is ready and willing to pay for.

Not sure you are actually wanting to sell your home, or just wondering about its current value?
Take care and good Luck
0 votes Thank Flag Link Mon Mar 2, 2009
Hi Pat,
Wow, I do not even know where to start!
You sound to me like a Seller who feels (like actually most sellers do and I will explain a bit later,....) that their house is worth more than others for a variety of reasons....

Let me just point out a few things to you, so that you can thing about them and re-evaluate the current value of your home!

Your home, now or at any time, and any conditions of the market, will be worth only what a ready and willing and financially sound buyer is ready and willing to pay. Not what you think it is worth, not what you want to get for it, nor what a Realtor tells you you could put it on the market for or it may potentially sell for....
So given that fact YOU must have a Realtor evaluate what the current market in your immediate area can bear, i.e. are there a lot of homes on the market, will yours be on the top or the bottom of the market, is yours more updated inside and out than other homes, how many homes have recently sold in your area, and how many are on the market to be sold, that will tell you a bit about market time....

Whatever has sold in 2000 DOES NOT MATTER TODAY ---- I wish you could just add appreciation for every year thereafter, but that is not the case and what people were able to sell their home down the road a couple of years ago, the market a couple of years ago was different, the economy was different.

Your need to think in different ways these days" do you need to sell? Do you want to sell and why?
How updated is your home, i.e. will it sell before any other similar home in size and location and style?

Sit down and discuss all these issues in detail with a trusted area Realtor and get as much detailed information as possible. Do NOT look at what happened a few years ago.

Take care and I wish you luck!
Edith YourRealtor4Life! Working always in the very BEST interest of her clients!
if you ever come across anyone you know who is moving to Chicago, the larger Chicagoland areas or anywhere in Northern Illinois, would you send them please my way! Thanks! I will provide first class real estate services!
0 votes Thank Flag Link Mon Mar 2, 2009
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