Favorite Listing?

**scotchrocks** · 02-08-2012, 05:59 PM

615 Fitzwater Street #17, Philadelphia PA - Trulia

**LUCas** · 02-08-2012, 06:07 PM

Originally Posted by phillyaggie

overpriced? just right?

Ridiculously overpriced.

**caL** · 02-08-2012, 06:13 PM

Some great housing stock in this pocket of Fox Chase.

1010 Rhawn St. Phila, PA 19111 | 5966528 | Coldwell Banker

**phillyaggie** · 02-08-2012, 06:25 PM

Originally Posted by LUCas

Ridiculously overpriced.

why do you say that? lot of similarly priced properties nearby...

**3rd&Brown** · 02-08-2012, 08:21 PM

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 Much of it is well maintained, but completely outdated.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.

**OldMama** · 02-08-2012, 08:59 PM

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.

**LUCas** · 02-09-2012, 09:22 AM

Originally Posted by phillyaggie

why do you say that? lot of similarly priced properties nearby...

Listings arent' sales. If you look at the actual sales, there's one a block away with 1000 more sq. ft. that sold for about $50k more. And a new construction double lot townhouse with garage on Webster that sold for this asking price.

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)

**lemonfresh** · 02-09-2012, 09:33 AM

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.

**LUCas** · 02-09-2012, 09:41 AM

Originally Posted by lemonfresh

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 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.

Actually, yeah, the Trulia info is really out of whack. It says it's a condo of 1743 sq. ft. But the BRT lists it as a townhouse of 2400 sq.ft. If that's the case, the price isn't as ridiculous.

**phillyaggie** · 02-09-2012, 04:42 PM

Originally Posted by LUCas

Listings arent' sales. If you look at the actual sales, there's one a block away with 1000 more sq. ft. that sold for about $50k more. And a new construction double lot townhouse with garage on Webster that sold for this asking price.

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)

ah, that's really helpful! Thanks! where do i look up recent sales to see comparables? city's BRT or OPA web site?

**lastmonthsrent** · 02-09-2012, 06:01 PM

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.

**LUCas** · 02-10-2012, 08:49 AM

Originally Posted by phillyaggie

ah, that's really helpful! Thanks! where do i look up recent sales to see comparables? city's BRT or OPA web site?

They have them on that trulia site you linked. The red icons are sales, green are listings. But yes, you can look on the BRT site or check this site: | Philadelphia Real Estate

**caL** · 02-10-2012, 10:45 AM

Originally Posted by 3rd&Brown

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.

A house a couple blocks up Rhawn is for sale for over $400k so it is possible, and this is in a down market. In regards to South Philly, it doesn't seem like there's a down market at all. I mean, if you're putting a lot of weight on resale value, is paying a half million plus for a row home in South Philly worth buying? Every market has it's peak.

**Zigster** · 05-22-2012, 11:12 AM

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.

**Cro Burnham** · 05-22-2012, 01:33 PM

Originally Posted by 3rd&Brown

LOL. That's Fumo's place, I presume?

May already have been pointed out, but Fumo's place is across the street.

**Zigster** · 10-26-2012, 12:51 PM

Originally Posted by Poweltonian

Interesting...this house was pretty badly damaged by fire a few years back. The street view still shows the boarded up windows. 3XX N 39th Street

The fire couldn't have been that bad judging by the photos of the renovation. The price is very optimistic for West Powelton.

this eventually sold for $355k, which seems very reasonable given it is now in the Powel catchment.