"True freedom means being conscious and aware enough to choose what you pay attention to and to choose how you construct meaning from experience.” ~David Foster Wallace
I don't think the Manton house was a flip. My guess it was a young couple (the one room is a children's room) who bought a granny house and over the years upgraded it. Too many custom features for it to be "flip" quality: the sliding doors, the built ins above the bathtub, etc. You can tell whoever lived there really lived there and thought about how to make the house as functional as possible. Another example would be that children's room. It looks like it's a loft area that you just walk up the stairs and ascend into (which is technically a bedroom, my house has the same configuration), but they took the time to install panels (which are hidden in the pic) to close off the room to provide parties on both sides of that wall privacy (adults from children and vice versa). It just strikes me as too thoughtful to be simply a contractor Home Depot type of job.
Doesn't matter. It's sold.
I like the Christian St condo, though for some reason, I think 3 bedroom condos don't work as well as 2 bedroom condos. Most folks who want 3 bedrooms (IMO) want a house, unless they're in a palatial unit in a high rise.
The Fox Chase house. Also lovely, but it's a granny house. My guess is that there are hardwoods under all of those awful carpets. Easy enough. But the kitchen and the baths need total gut jobs. That's not cheap in a decent size house. $40-$50, likely. So can one recoup that?
That's my observation about a lot of the housing stock in the NE. Much of it is well maintained, but completely outdated. The owners, honestly, probably think their houses are the bomb, so they don't discount at all. I'd have to gut that place and put in Central Air if it's not in already (another amenity seriously lacking up there). I think the house needs $60,000 worth of updates. So, unless it would sell for $350ish with those updates, I would NEVER buy it.
The Christian Street house is new construction which generally costs more than older houses. Lots of people are willing to pay a premium for new construction. Personally, it was a bit colorless and personality-less for my taste but it will probably sell for near asking just because it's new.
A condo conversion on a commercial strip across from the Y in the southern end of GHo with 1600sft. isn't worth almost half a million. I paid significantly less than that at the peak of the market in the Art Museum Area for a townhouse of roughly the same size plus a garage.
Here's a similar listing at 17th and Rodman for about the same price. Much more realisitc at that location. 1712 RODMAN ST, PHILADELPHIA, PA 19146 | MLS#(5963565)
"I am a <banned> liar." -Mr.Brightside
I wonder if the place on Christian St. is really a condo. I've seen that term used in online listings for places that aren't, so it might just be something automatically associated with homes that are attached to others. Zillow calls my South Philly rowhouse a condo, but unfortunately all the upkeep is my responsibility only.
Last edited by lemonfresh; 02-09-2012 at 10:03 AM. Reason: Correcting flight of the bumbled "be"
Last edited by phillyaggie; 02-09-2012 at 04:54 PM.
"The only difference between the Republican and Democratic parties is the velocities with which their knees hit the floor when corporations knock on their door. That's the only difference."
- Ralph Nader
1743 Christian is not priced poorly at all and is in fact active w/ a other contigency ( a contract has been accepted but a contigency is attached)
There are several settled properties on the 2100 block of Webster and one on the 1700 block of Catharine that hold well as comparables and that indicates
this property can appraise at this price.
"I am a <banned> liar." -Mr.Brightside
Looks like this guy at 328 N 39th just gave up. He might have had a shot of selling it if it becomes Powel school district.