Archive for For Home Sellers

Philly’s Hottest Real Estate Zip Codes

 

US real estate prices have fallen dramatically over the past year, but it looks like Philadelphia real estate has managed to buck the trend. A new report, recently released by Zillow, highlights places that had the biggest year-over-year price increases during the third quarter. 

Philadelphia had 3 of the country’s best performing zip codes. 

#14: 19104 with Year-over-Year Price Growth of 13.5% 

#3: 19148 Year-over-Year Price Growth: 16.9% 

and drumroll please… 

# 2: 19145 Year-over-Year Price Growth: 19.1% 

philadelphia real estate hottest zip codes 

Related Posts: 

Passyunk Square: It’s Not Always A Buyer’s Market. If a House is Hot, Bid Quickly 

Newbold: A New/Old Neighborhood in South Philly

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janice_bovee-authorposted by janice       SEARCH the Philadelphia MLS. No Registration Required! 

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How is the Philly Housing Market Doing so Far this Year?

Philadelphia Housing Recovery Sputters in Q3.

Mixed news on sales, prices.

The most recent home sales figures suggest a slowing in the momentum of the housing market’s attempt to recover from its current slump.


Following the first quarterly increase in citywide house prices after two years of falling prices, the typical Philadelphia home rose in value by a scant 0.2% on a quality—and seasonally—adjusted basis this past summer, according to the latest analysis by Econsult economist Kevin Gillen{pdf}. Following on the heels of a robust increase of 6.8% this past spring, Philadelphia house values seem to still be struggling to regain the value they lost over the past two years. With these losses in value netted against these two recent increases, the typical Philadelphia home has lost 8% of its value since the bursting of the national housing bubble over two years ago.

Download the report and Kevin’s commentary.

Price changes across the city’s neighborhoods were mixed, with increases in some neighborhoods being offset by decreases in others:

South Philadelphia +7.0%
West Philadelphia +6.4%
 University City +2.6%
Center City/Fairmount +0.7%
Lower Northeast Philadelphia +0.2%

 Northwest Philadelphia -4.4%
Kensington/Frankford -2.1%
Upper Northeast Philadelphia -0.7%
North Philadelphia -0.4%

 

Philadelphia remains in far better shape than most other major U.S. cities. According to Case-Shiller MacroMarkets’ composite house price index, house prices have fallen by an average of 32% in the ten largest U.S. cities since the bursting of the housing bubble, compared to only 8% in Philadelphia. Of the twenty largest cities in the U.S., all but one (Dallas) have experienced more severe house price declines than Philadelphia. And, according to the research firm IHS Global Insight, the typical Philadelphia home is now considered to be under-priced by 2%.

 

Also See: Philadelphia Housing Considered Under-Value 1st Time Since 2003

HAVE HOT NEW LISTING DELIVERED FRESH TO YOUR INBOX

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janice_bovee-authorposted by janice       SEARCH the Philadelphia MLS. No Registration Required!

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How to Sell your Philadelphia Home in 30 Days

IS IT TIME TO GET SERIOUS ABOUT YOUR HOUSE AND THE MARKET? Pricing your home right from the beginning is 90% of selling it in a timely manner and marketing is the other 10%.

sell your philly home in 30 days

 

Make no mistake…understanding what the right selling price is from the beginning affects your bottom line.

The market sets the value. The market is the market. Plan and simple.

The #1 Most Common Mistake in Selling a House

“Testing the waters” by pricing your home high at the beginning and reducing it a few weeks later when it hasn’t sold. This is a deadly mistake.
The very most important time in marketing your house is the first 30 days.

Overpricing:

Eliminates the number of potential buyers that see your home

Encourages buyers who are shopping by comparison

Lengthens marketing time, costing you more in mortgage payments, taxes and insurance

Overpricing can result in a lower selling price as buyers often see homes with numerous price reductions as “stale” and less desirable

Agents lose interest when they know a property is overpriced or worse yet they use your home to sell a similar home that is priced for less

GET HELP PRICING YOUR HOME RIGHT THE 1st TIME

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janice_bovee-authorposted by janice       SEARCH the Philadelphia MLS. No Registration Required!

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Philadelphia Open Houses: It’s OK to Look

open house

Every REALTOR’s open house is a little bit of drama. We have the sellers clean up the homes, we put out signs, we put out balloons or flags, we put out info and a sign-in sheet, and then we wait.

That’s when the games begin.

Usually the neighbors are the first to show up. “We live down the block and just want to look”. “How much are they getting for this? Are they crazy?” “I love what they did with the kitchen but I still wouldn’t pay this much.” They’re always fun.

Then the “others” come in. Most are very pleasant. They ask questions. They want to know how long it’s been on the market, does it have central air, what are the taxes, what’s the parking situation.

Some people come in, look around and make no eye contact at all. They have that aura of “Don’t look at me, don’t talk to me, I’m not really here.”

But honestly, all I want them to do is sign in so I can let my seller know that people came in to look. I don’t want to marry them. I try to let them know that if they have questions they should ask, otherwise go look around and enjoy.

Yes, some homes actually sell because of the open house. I was just getting ready to lock up one house when someone walked in. They were driving by, saw the sign, found a parking spot and came in. They bought it a week later. Score!!

Anyway – if you decide to spend time walking around and visiting open houses, don’t be afraid of the REALTOR. We’re here to help, answer questions and try to get our seller’s home sold.

Don’t hesitate to come on in. We like the company.

LIST WITH US and give your home the exposure it deserves and GET IT SOLD

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carolyn perlow_author posted by carolyn  REALTOR, Ecosociate™by Ecobroker International  SEARCH the Philadelphia MLS .

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Philly Home Sellers: Where and How is Your Real Estate Agent Promoting Your Home?

where buyers find homes

Forget advertising in the local newspapers and don’t depend on open houses. To successfully promote your property to the market it is important to know how buyers find homes.

Just how important is your homes presence on the internet? The Pennsylvania Association of Realtors track statistics of home buyers and sellers and every year release the information in report form: 2008 Profile of Home Buyers and Sellers Pennsylvania Report (pdf).

37% of recent buyers reported that their first step in the home-buying process was looking online for properties for sale. 9% of first-time buyers and 21% of repeat buyers reported their first step was to contact a real estate agent.

89% of home buyers used the Internet to search for homes.

The typical home buyer searched for a home for a median 12 weeks and saw a median 10 homes.

90% of home buyers used a real estate professional during their home search.

Among home buyers, the typical Internet searcher was 36 years old and visited a median 10 homes. The typical home buyer who did not use the Internet to search for homes was 54 years old and saw a median 6 homes.

35% of home buyers first learned about the home they purchased from a real estate professional; 39% first learned about the home they purchased through the Internet.

Real estate agents were viewed as a very useful information source by 81% of buyers, and as a somewhat useful information source by an additional 16% of buyers searching for a home.

Your homes internet presence is the new curb appeal.

Our marketing strategies are designed to target the major buyer resources found in the consumer research chart above because they are most likely to result in a buyer for your home.  We deliver. Period.

Can your home be found online, or for that matter how about your real estate agent?

LIST WITH US and give your home the exposure it deserves and GET IT SOLD

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janice_bovee-authorposted by janice       Contact Us for a Hassle-Free Listing Consultation

 

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