Ryan Hartman

John,

True, you'd probably do better on a price/sq. ft basis if the 400 block of south 48th were in the catchment, but you shouldn't have too much trouble finding a buyer for the property-- I know the block pretty well: I'm assuming sunporch, rear deck, garage, and maybe a finished basement?

If you target Center City buyers who might be considering neighborhoods like the Art Museum Area, Fishtown, or Graduate Hospital, you're project is likely to stand out as offering a bit more value in terms of price/sq. ft, access to public transportation and perhaps even short/long term prospects for appreciation. (Who knows--the catchment area could shift out eventually, or maybe there will be a high school serving a wider geographic area sometime soon?)

Anyway, here's the pitch. (You knew it was coming :) I think Re/Max City Space and I (as a U-City resident) are particularly well prepared to help you accomplish the efficient sale you're looking for.
You can learn a little more about our approach at http://philadelphiarealestatehub.com/cityspace-sells.

Whether you're planning to list with an agent or not, I'd be happy to get a look and offer some feedback on the property sometime soon...

Ryan - Tue Sep 2 2008, 06:43

Haven't heard anything about an expansion of the actual boundaries yet.

Check out every property currently available in the Penn Alexander Catchment here:
http://philadelphiarealestatehub.com/university-city/availab…

Ryan Hartman
Re/Max City Space - Thu Aug 28 2008, 15:02

Funny you should ask. We've just started upgrading our stats section at PhiladelphiaRealEstateHub.Com (link below)

If you need stats for a zip code we haven't gotten to yet, feel free to contact me direct using the contact page on the site. - Wed Apr 16 2008, 12:26

Where's the property? Areas like University City or Fishtown, maybe 70-120k if you don't want to over improve. Rittenhouse Square-- You might spend 300-500k to keep up with the neighbors. - Wed Apr 16 2008, 12:22

The 19122 Zip is so relatively close to Center City, that long term, (5-20 years,) it's safe to assume your new purchase has good potential to appreciate. If you're looking to buy, then sell short term, then factors such as a potential buyer's perception of the immediate neighborhood impact the viability of your investment. - Wed Apr 16 2008, 12:14

I like to call this one the "BS Fee." (for B roker S ervice Fee of course :) Any broker I've ever had makes it company policy to charge some variation of this "administrative" grab. You can always refuse to sign the form that authorizes the fee (usually presented when you sign your Buyer Representation agreement), but keep in mind your agent's broker will generally force your Agent to "eat" the cost if it gets "waived." If you like your agent, don't do that.

A better way to look at this is like this: Your agent is likely putting a lot of time and energy into the process of finding you a property, and you're probably not paying him/her directly for these services because the seller's agent is likely cooperating and splitting the seller's commission with your Agent's Brokerage. So, if every broker in the region is charging the BS fee, then the $250-$499 that your broker is charging is just another standard (but negotiable :) component of the bundle of closing costs which join forces with the standard listing commission to create downward pressure on market values as a whole.

Question is: Is it really worth the trouble trying to negotiate the "BS" fee away? Probably not. In the end you'll end up working with another company who will also try to charge it, or worse yet, pass the cost on to the poor 1099'd independent contractor of an agent who "waives" it for Karma's sake. - Sat Aug 4 2007, 10:54