Thehob

Hi Bob,

In Trend MLS territory (Philadelphia and its suburbs) there is both the "active no showings" status as well as the "temporarily off market" status. Active no showings means that the property is currently listed for sale, being marketed, and agreements of sale are being accepted. However, during the time that the home has the showing prohibition, it may not be shown to prospective buyers, including those from the listing broker's office. The status is generally used while the seller makes some kind of repair or preparations for sale, to build momentum after a listing contract is signed but before the sellers want to allow showings, when family or guests are staying for a period of time, etc.

The temporary off market status on the other hand means that the sellers are not accepting agreements of sale and are not allowing showings. The listing contract remains in place (as opposed to a "withdrawn" listing, in which case it has been cancelled). This may be used if the sellers decide to take the home of the market while they are away for an extended period of time, if there are major repairs being made that will likely take a while to complete, etc. This status usually lasts longer than the "active no showings" status. Additionally, the reasons for a "temporary off market" status are generally more complicated and usually require an explanation from the listing agent. - Wed Aug 20 2008, 13:00

this has been a great topic. How interesting to see this home languish on the market and suffer continual price drops. Obviously the seller is not serious about selling. - Sun Aug 3 2008, 09:47

I have to agree. Go ahead and low ball. It's not like there are other offers coming in anyway, especially since it is almost December and the property has been on the market for over one year. I don't care unique a property is, the market dictates the price and this certainly is overpriced (see the continual price drops). I don't know when the photos were taken, but if the house is empty or "staged" with rental furniture then low ball by all means since they sellers have already moved on and are wasting money on the property. In closing, do not feel bad upsetting a reticent seller. I'd feel bad if they countered at their asking price, at which point I'd say "good luck with that, maybe next year." - Wed Nov 21 2007, 20:10

This home has been on the market for quite some time. It is definitely out of line with the comps. Be weary of agents that try and convince you that the home is not overpriced. The property was purchased by the current owners in 1998 for 249,900. I find it hard to believe that they put 500,000 in ugrades into the property. And quite frankly, if they did, they most likely overimproved the property since it so clearly out of line with the comps. No doubt it is a nice home, but given the time on the market, and the fact that they just dropped the price to 750, it should be evident that the home is overpriced. Furthermore, be careful of the days on the market since agents in the area have a habit of "withdrawing and relisting" the property to reset the DOM. Get a good agent unaffiliated with the lsiting agents office.

Also be advised that the owners of 319 are also the owners of 320 and this home is also on the market. This leads me to believe that they are merely speculating in the area and therefore there is most likely more room for negotiation. - Mon Nov 19 2007, 16:39

You can always sell the home "as is." Common law does not require any disclosure of defects but PA's statutory law likely requires disclosure by seller's of any latent defects and this would be one of them. - Tue Jul 29 2008, 20:16

If you email me or message me with the address of the property, I will be happy to tell you who the owners are and whether or not the property is for sale.

I AM NOT A REALTOR, SO THERE IS NO OBLIGATION WHATSOEVER (i.e. no pestering follow up emails, fishing, etc.) - Tue Jul 29 2008, 20:10

Both are great, safe, vibrant Center City neighborhoods. Rittenhouse has more penthouse and luxury condos than Chinatown. Furthermore, the demand for the exclusivity of Rittenhouse is much higher than that of Chinatown and a source of the higher prices. But as I mentioned, both are great neighborhoods. In the end, pick the area that YOU like better. - Tue Jul 29 2008, 20:05