Hello, We might be putting our 2 family home on the market soon, what are the prices for the area of Somerset and Aramingo ave?

Asked by Susan Higgins, 19154 Sun Sep 8, 2013

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James G Brop…, Agent, Phila, PA
Sun Sep 8, 2013
BEST ANSWER
Susan:

There are presently 30 homes either active or pending in 19134 Duplex style. The price range goes from 30,000 to 120,000. Value depends on condition, street location, number of bdrms and whether you have 2 heaters, 2 hw htrs and 2 electric services and the fact that the property is zoned legal for 2 family.usage.

Jim Brophy
Associate Broker
RE/MAX 2000
215-698-2063
jamesgbrophy@aol.com
0 votes
I meant west of aramingo
Flag Mon Sep 9, 2013
Our house has one gas for heating, two separate meters for cooking, 2 separate for electric, is not zoned for 2 families, our new tax estimate is 78,500 for 2014. located one block south of Aramingo ave on Somerset St.
Flag Mon Sep 9, 2013
Larry Lichtm…, Agent, Bala Cynwyd, PA
Tue Sep 10, 2013
Hi Susan,

FYI. In the meantime here a couple recent comp sales:
These are both within 2 blocks of Somerset & Aramingo.

2842 Cedar St is a corner (1BR+1BR)duplex consisting of two 1BR apts bringing in total gross rents of $1300.
Sold for $110K this past May 2013.

2532 E Cambria is also a 1BR + 1BR duplex that is 400 sq.ft larger but in lesser condition.
One unit was unoccupied. Other was rented at $380 month to month.
Sold for $94K last week on September 3rd.

Have a great day. Looking forward to speaking with you soon.

All the best,
Larry Lichtman
Realtor, Property Manager
Your Real Estate Resource For Life
CELL/Text: (267) 254-7994

Liberty Real Estate Associates
924 Arch Street
Philadelphia, PA 19107
Office: (215) 625-4725
0 votes
James G Brop…, Agent, Phila, PA
Tue Sep 10, 2013
Hi Susan:

Majority of duplex properties are bought for rental income as opposed to user occupancy. Having only one heater for both units is a negative condition and must be adjusted in pricing. Having a property that is used as two family dwelling but not zoned for the usage will be a red flag toward new buyer financing. Most banks will require a Use&Occuapancy certificate for 2 fam dwelling and the bank appraisal will be contingent upon legal zoning usage in order to obtain financing.

There are some things you may be able to do in order to continue forward but you need help of someone that has knowledge about your situation and which, by the way, is not all that unusual in many older sections of the City but unfortunately, you are going to have to do some things to allow a successful sale and if you were to say, "I just want to sell it as is", you will not receive highest market value and would have to make serious adjustment in order to attract a qualified buyer that can continue forward with a sale without bank financing and that could require extensive market time?

Years ago, before they implented requirement for a Use&Occupancy certificate to be part of the sale, your situation was very common but these days you have to deal with making adjustments to reflect any sale success.

Jim Brophy
Associate Broker
RE/MAX 2000
215-698-2063
215-820-6001
0 votes
Larry Lichtm…, Agent, Bala Cynwyd, PA
Tue Sep 10, 2013
Hi Susan,

It all depends on the current rents. What size are the 2 units?

I manage many rental properties in the neighborhood. I can give you some rough numbers pretty quickly but for a more accurate Comparative Marketing Analysis, I need a bit more information.

Now is the Fall selling season, so if you want to sell and settle before the New Year, you want to put it on the market soon. I'd be happy to meet with you, tour the property together, and tell you what I think we could sell it for. There is no fee for this service. Please call me at your convenience.

Have a great day. Looking forward to speaking with you soon.

All the best,
Larry Lichtman
Realtor, Property Manager
Your Real Estate Resource For Life
CELL/Text: (267) 254-7994

Liberty Real Estate Associates
924 Arch Street
Philadelphia, PA 19107
Office: (215) 625-4725
0 votes
Philip J. Cu…, Agent, Feasterville, PA
Mon Sep 9, 2013
James is correct however if you call me in my office I would be happy to do a CMA free of charge 215-725-5700 X49

Philip Cunningham
V.I.P. Realty Corp
7942 Bustleton Ave
Philadelphia,PA 19152
215-725-5700 X49 cell 267-934-1971
Philcunningham2004@yahoo.com
Web Reference:  http://www.GreatPaRE.com
0 votes
Barbara Toma…, Agent, Langhorne, PA
Mon Sep 9, 2013
Hi Susan,
Somerset area prices for duplex are from 200K and up. Aramingo Ave- Port Richmond, Bridesburg, and so on, are about half price of what NE Phila is. I'd need more information to successfully help you.
Please call 267-312-2710, or 215-860-0800, ask for Barbara.
Thank you,
Barbara Tomaszewski
Keller Williams Preferred
267-312-2710
0 votes
Alexis Jeffr…, Agent, Jenkintown, PA
Sun Sep 8, 2013
Hi Susan,

I can help you with selling your house.

Please contact me in the near future to get started.


Gratefully,
Liberty Bell Real Estate
Of Jenkintown
Office: 215-885-3332
Direct Phone: 215-237-4147
Email: alexisjrealestate@gmail.com
0 votes
Don Sherman, Agent, Philadelphia, PA
Sun Sep 8, 2013
Hello Susan;
The main determinate in value for your property is which side of Aramingo Ave. it is located on.The east side (the river side) commands a higher value then the west side.Of course condition, number of bedrooms in each unit and seperate utilities or not will have an effect on value also.
Only properties similar to yours on the same side of Aramingo Ave. that have sold and settled are how the value of your property is obtained.Properties currently on the market are not comparables for value as they ms y be priced lower or higher then value.
I will be happy to do a competitive market analysis for you.There is never a charge or obligation for this service. To get an accurate value I will need specific information on your property such as condition , number of bedrooms, baths, age of mechanicals etc.
Feel free to contact me to provide that information.Will also provide you with letters from previous clients so you can get a feel of how I conduct myself with clients.
My best to you;
Don Sherman
Century21 Advantage Gold
Cellphone-267-716-8228
Email-realtor94@gmail.com
0 votes
Jennifer Ged…, Agent, Philadelphia, PA
Sun Sep 8, 2013
Susan,
Congrats on starting the process of selling your home. I am sure you have many questions including the potential value of your home. I would be happy to discuss with you further as well as help to understand your goals and how I can best assist you in achieving them.
Please feel free to send me a private message so we can set up a convenient time to talk.
Thanks!
Jennifer
Jennifer L Geddes, MBA
Tri-County Realty
JennPhilaRealtor@gmail.com
(484) 995-2155 cell
(215) 545-8700 office
0 votes
Mike Rosania, Agent, Philadelphia, PA
Sun Sep 8, 2013
Hi Susan. Please contact me directly and I can prepare a no cost comparable market analysis(CMA). SellWithMikeR@gmail.com.
0 votes
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