when will the property values go up for any corner houses in the Parkwood Neighborhood? looking to sell and know of some who are interested in buying

Asked by Brothers, Philadelphia, PA Sun Oct 17, 2010

want to sell 3 bdrm/1 1/2 bath-connected garage- huge fenced in yard, nice side yard, nice front yard with nice curb appeal, many remodels done: re-placed underground piping, new roof, new siding, all new weather resistant vinyl windows, washer/dryer (new) and new chimney liner, security system set up in house, windows, and doors, satellite, new electric wiring and panel box, etc.....just needs 2 or 3 more little things like paint, upgraded kitchen (which by the way.......of all these houses on street.....just a few were opened to given kitchen and living room expansive room and sight. back yard is big enough for a built in swimming pool plus much more!!!!!!! Needs tile in basement and tile or hardwood in kitchen . want to get double what i paid plus put into it. thxs

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6
Terrence Cha…, Home Owner, Allentown, PA
Sun Oct 17, 2010
According to my crystal ball.... oh wait.... it's not working today.

If I, or anyone else, knew when the market would rise or fall, we would be millionaires.

You mentioned that you want to get double what you paid for. When did you buy the property? If you bought the property during the height of the market between 2005 and the and of 2006, then it will be very difficult to get that "doubled" price.

You must talk with a local real estate agent and have them actually look at your property before making any professional opinions.
1 vote
Renee Porsia, Agent, Newtown, PA
Tue Oct 19, 2010
Depending where the home is, the prices are all over the place. Many of the homes sat on the market for over 100 days before they got $170k.

I would need more information on the location of the home and what style the home is. One just sold in September on Chilton Road for $182k. Was on the market for only 7 days and gave back $7000 in seller assist. It was a row. Another row on Cabell sold for $186,500 and was on the market for 52 days with no seller assist.

I would suggest not doing anything else to the home to avoid over improvement.

Feel free to contact me.

Renee Porsia
Associate Broker
RE/MAX Action Realty
(215) 669-0589 Direct
(215) 358-1100 Office ask for Renee
http://www.reneeporsia.com
Proudly serving all of Philadelphia, Bucks, Montgomery Counties and New Jersey
0 votes
Chris & Step…, Agent, Philadelphia, PA
Tue Oct 19, 2010
What price would you like to get for the home? Parkwood is a desirable neighborhood. I will say that the kitchens and baths are the 2 biggest expenses and are also the 2 features in a home that can increase the property value most. They are not little things and can be quite expensive to upgrade. Paint is a small ticket item like you mentioned. The yard is a real selling point as well.

What do you want to sell the home for so that you can earn your double plus appreciation? We can tell you if it is possible or not.
0 votes
Karen Rice, Agent, Hawley, PA
Sun Oct 17, 2010
Prices will go up when supply goes down and demand goes up.
0 votes
Richard Frie…, Agent, Philadelphia, PA
Sun Oct 17, 2010
Prices are stable right now but with the low interest rates houses are selling. It is a heat time to put your house on the market because in spring the market will get crowded. I have a free ebook that talks all about this. So if you want just email me and I will email you a copy.
Rich Friedman
Keller Williams
friedman.Richard@Verizon.net
267-679-1088 cell
0 votes
Renee Porsia, Agent, Newtown, PA
Sun Oct 17, 2010
Hello,

This is a question that everyone has but usually an answer that nobody likes to hear. Let's face it, we all think our homes are worth more than our neighbors but the truth of the matter is that we are not just selling our homes, we are selling our neighborhoods and if the homes in our areas are selling for less then our homes are going to sell for less.

Just this past week, I know of 3 homes that were scheduled to settle but all 3 appraisals came in low which means that the homes will not settle. What that also means is that the listing agents didn't do their homework and listed the homes too high. This will start to end once more homes scheduled to close don't appraise. So it is extremely important to make sure when you list your home that it is priced right, right from the start.

There is a such thing called "over improving and when most people over improve their home they don't want to hear that their home isn't worth what they thought it was worth and then they refuse to list the home where it should be listed and then what happens is they list the home with the Realtor who tells them what they want to hear and then the home sits on the market for a year. If the home sells, it sells for UNDER market value or the home owner takes it off the market and hates the Realtor.

To answer your question, nobody can tell you when home values will go up. I can assure you that they will probably never go as high as they did which put us into this horrible situation that we are all in now. If you seriously want to sell, find a Realtor who will only work for you and not the buyer. That is called seller agency. Make sure your Realtor is an expert negotiator. Have your Realtor do research on other similar homes in the area and then you will know how much your home is worth.

If you know people who are interested in buying then the home needs to be priced right so they can obtain a mortgage.

I'd love to talk to you further. Feel free to email me at reneeporsia@mac.com or give me a call at 215-669-0589.

I know your area extremely well. I live close by and I have family and friends who currently live there.

Renee Porsia
Associate Broker
RE/MAX Action Realty
(215) 669-0589 Direct
(215) 358-1100 Office ask for Renee
http://www.reneeporsia.com
Proudly serving all of Philadelphia, Bucks, Montgomery Counties & New Jersey
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