Home Selling in 19134>Question Details

Marcie, Home Seller in Philadelphia, PA

My mother has a house in kensington/greater hghts. She has not lived there in about five years. She was

Asked by Marcie, Philadelphia, PA Wed Feb 6, 2008

offered $25,000 and turned it down. Same person just offered her $35,000. I feel it a great deal. House needs tons of work. Would you hold on to this property in hopes that the market will become like Northern Liberties

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3
I would have to see the property to actually determine it that is a good offer to take. Has the Market Analysis been done on the place? In a unpredictable market like this it is hard to tell how much properties can go for at times. I would sugest you speak to your realtor and get some historical information about the trends in the current market. Just to give you a heads up, interest rates have been lowered and that is a good thing for real estate. Whether you hold out or take the offer its up to you. Just concider your motivation for selling and the information that you have on the current market and you'll be fine.
1 vote Thank Flag Link Sun Feb 10, 2008
Marcie,

We'd need to know the exact address to pull up the comparable sales. If the property is in Central and West Kensington (19134 amd 19133), 3 bedrooms in ok condition can sell from $45,000 to $65,000 (maybe higher) depending on the block. The super tight streets where you can barely drive your car where there is no street parking will absolutely sell for the lower numbers. The condition of the other properties on the block will certainly have an effect on the sales price too. The 19122 zipcode, aka Old Kensington is bringing in the higher numbers. But again it depends on the block. I am unfamiliar with the name Greater Hgts. Can you tell me more about that?
1 vote Thank Flag Link Wed Feb 6, 2008
the property is located on 800 block of russell st. In poor condition.
0 votes Thank Flag Link Wed Feb 6, 2008
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