Across Philly, as in may other areas, there is a vast supply on the market right now. I would suggest that it is pretty important to accurately assess the condition of the home and its systems, rate its location and features agasint other homes on the market, and set a price that will help you sell.
If the first home had been priced higher, the buyer would not have looked twice as he knows he needs to spend some significant money to make it what he wants. At the sam time, if the second home had been priced higher, the buyer may have opted for a different neighborhood with more restaurants, bars and features (like Fairmount), or perhaps considered one of the thousands of condos out there.....
When you look at the big picture, everything plays a big role in the marketing of your property. But, nothing is more importatnt than the price. That is why houses remain on the market for such a long time, or why they don't sell at all. The first few weeks of a property that is listed on the market are very crucial. So in short If your property is priced right it will sell quick. Thats why it is important for your agent to have a strong marketing plan and a good comparative market analysis (CMA).
5267 Roosevelt Blvd.
Philadelphia, Pa. 19124
Business (215) 537-0200 ext. 1401
Cell (215) 833-6603
We have 2 Open Houses going on this Sunday in Fishtown 1-3. You shuld check it out for comparison purposes. 533 E Cabot Street (334,900) and 220 E Thompson Street. (299,900) .
The rest of our listing in Fishtown that are shells or need a little "love" so to speak, they sell with in 2-3 weeks if priced right. That says the investors certainly agree with me. The future of Fishtown is great.