Q: How much would I get if I wanted to sell my home in Castor Gardens? I live in a twin with three bedrooms. I bought it in 2007 for $165,000, and I probably need to get $175,000 to be able to move.
A: It all depends on the exact location and condition of your home. The lowest price home sold in June was a fixer-upper for $95,000 cash on McKinley Street. Unless your home is in poor shape, you may be able to get more than that. Based on a comparison of the 10 three-bedroom twin homes recently sold over the last 3 months in Castor Gardens, the median price is between $135,000 and $140,000. continue reading »
Q: My home is for sale in Wissinoming, and a comment a buyer recently made was that my property had no curb appeal. My front “yard” is only two feet long. What kind of curb appeal is really possible to do for the front of my home besides cut the patch of grass?
A: Pretend you’re a buyer and stand outside of your home with a critical eye. Think to yourself, “Would I be proud to call this my new home, without even walking in the door?” Although two feet of front lawn is very small, there are thousands of properties in Philadelphia that have even less than you and manage to add curb appeal simply with shutters and window boxes.
Here are 10 tips for curb appeal in Northeast Philly: continue reading »
Q: My home in Castor Gardens is under agreement — finally — after five months. A home inspector has looked over the property with the buyers and now has a long list of items they would like repaired. Some of it I can understand, such as safety or electrical issues. But some of it, like a slow draining bathtub, just seems petty to me. It is not like they’re paying a million dollars. It’s a $100,000 house. Should I get it all fixed or just find new buyers?
A: Finding new buyers is easier said than done. Nevertheless you have a few of choices here. You can choose the way you would like to handle it, but you can’t predict your buyers’ reaction to your choice, so choose carefully. continue reading »
Q: My condo has been for sale for more than six months in Delaire Landing. My agent originally said he could sell it at the price I set, and now he is saying the reason it is not selling is because it is overpriced. I am starting to think he lied to me in the first place, because another agent I interviewed said he couldn’t go this high. But I gave this guy my listing because he said he could. Now he’s changed his tune. Should I reduce the price or make him earn his money?
A: Maybe your agent told you he could get more for your listing because he really thought he could. Or maybe he did lie just to get your business. It’s not like that doesn’t happen. Whatever the reason, it really doesn’t matter now, because I am assuming you still want to sell it. You and your agent are both taking the same gamble it will sell at a price that, now, two agents are telling you cannot happen. continue reading »
Q: I am thinking of selling my house this year, and a real estate agent left me a flyer saying now is the best time to sell. Will the $8,000 First-time Buyer Tax Credit really help me sell my house this spring? Or is this guy full of it?
A: It’s always busier in the spring in Philadelphia real estate. But this year, big tax credits hinge on buyers getting into sale contracts by April 30, 2010. They have until July 1, 2010 to close the sale. continue reading »
Q: I recently sold my house. In this market you would think that would be a good thing, but now I can’t buy the house I wanted because I did not get approved for the next mortgage. And it turns out I have to rent. I am regretful, but how was I supposed to know that would happen?
A: You should have gotten preapproved before putting your home on the market. Then you would have known. I asked Stan Reinford from Bank of America Home Loans if he has run into this problem. continue reading »
Q: I have a purchase offer on my home but the buyers need to sell their current home first. I want to take the offer, but what if they don’t sell their home? I don’t want to miss any other buyers that might want to buy in the meantime. What should I do?
A: There is a way to accept the offer and still show your home to potential buyers. The term is “First Right of Refusal.” If the buyer agrees, you can addend the contract to include the right to continue marketing your home to find a more suitable buyer. This addendum, sale & settlement of other property contingency (with right to continue marketing) addendum to agreement of sale, which is approved for, but not restricted to use by, the members of the Pennsylvania Association of Realtors®, spells out the terms of an agreement which will allow you to keep your home on the market. continue reading »
Q: We had our house in Burholme on the market for several months and we have had only four showings and no offers. Our real estate agent is blaming the market, but other people in the neighborhood have sold their homes. My husband wants to renew our contract with this agent because he knows him, but I want to find another agent. What can I do?
A: Did this agent even try to market your home? Can you find it on the Internet? Has he shared feedback with you from the four showings? It makes me wonder if he put any effort into it if he is blaming it on market conditions. Whatever his excuse, there’s no reason a house should not sell in any market. Every home just needs to be priced correctly in the market of the moment to sell. continue reading »
The home-buying process can be stressful enough without all the little odds and ends to tie up and, of course, the actual moving day. Here is a handy list of things to do — including a few you may never have thought of — to prepare for the big move: continue reading »
Q: My home has been for sale in East Torresdale for 5 months and I’ve had more than 32 showings. It’s on a great street and it’s priced right, even lower than a couple others. So why is it so many people want to see it but none have made offers?
A: The three main components that make up a sellable house are: location, price and condition. If you have the first two going for you, then take a look around. Your home may need a few tweaks to make it more appealing to potential buyers. continue reading »
