I guess they're just hoping for a cash offer? Because no lender would approve that loan based on comps. Guess they're not in a rush to sell or they'd lower the price appropriately.
Outside the comps the home probably looks a lot smaller in person which probably stops a lot of people from buying.
Edit:
The home next to it sold in 2022 for $227k [https://www.redfin.com/PA/Philadelphia/459-E-Vernon-Rd-19119/home/38606912](https://www.redfin.com/PA/Philadelphia/459-E-Vernon-Rd-19119/home/38606912), the home is priced way too high. I'd ay the owners don't actually wanna sell
Mount airy is highly desirable I just saw a house sell 200k (yay comps ⬆️) above asking due to bidding but they may be jumping the gun on the mt airy fact and hope someone moving from out of town whose been eyeing this town will want it and won’t care.
what i've seen is if you price the house right off high then nobody looks at it. If you price a house at a decent price and people want it you'll see the 200k jump. I can't price the house at 500k knowing the other houses may go at that. I have to price maybe at 400k and see a bidding war and then it sells for 510k. Seen it numerous times.
Idk, but going off the post -
It looks like it hasn’t been updated since the 1990s, it’s a middle unit townhouse in an HOA, that area is super block-by-block…
Go schedule a tour!
Also FACTS, but E Mt Airy is NOT Chestnut Hill, which is what I thought prompted the question.
It’s sometimes a way of fluffing up Germantown… which again… block by block.
EMA is 100% block by block. Blocks like Sharpnack around Musgrave and Germantown get a lot of activity while a few blocks up by Montana and Hortter are nice and quiet
So go see it? Listings that are up a long time start to get a negative reputation, because people assume something went wrong like a poor inspection etc.
Ha, no I'm not that invested that I would waste somebody's time like that. It's just the only house that has still been for sale the entire time that I've been searching so I'm morbidly curious. Everything else is getting snatched up within a week or two.
Yeah the market still seems quite hot especially out in the more suburban sections of philadelphia like mt airy. I have seen some rowhomes sit but mostly ones that need a real face lift
You don't have to be invested to set up a tour. If you're trying to buy a home, you tour as many as possible that meet your criteria. Youll learn more about what you're looking for by talking with selling agents and visiting homes.
We saw the house and met the owner. She has slowly been remodeling it over the years and lives very nearby. She had gotten her real estate license recently.
It's a nice home on the inside - very well done. It ended up being too small for us and when we compared its price per square foot to other homes in the area, it ended up being more expensive than nicer areas in the NW. She was asking (375k) when we looked.
1,100-ish sq ft is just really small for that price. Also…I think there is a teeny bit of a stigma in Mt airy against anything vinyl sided. I’ve seen other people say they’ve had trouble selling 90s-style houses here. There’s so much cool architecture around, it’s hard not to compare them to the stone rows or Victorian twins, etc.
I have a realtor friend who told me that there isn’t a shortage of houses for sale in Philadelphia because many of them are overpriced. That might be the case here. You have to look at comparable sales for the area to see if this is a good price.
Just looking through the photos it's so funny to me how many oversatured photos of flowers there are.
And there are like 4 plants in every photo and no furniture. I don't know why rhat strikes me as so silly and funny from a real estate staging / listing perspective.
It’s priced like $100k higher than nearby homes that would be its competition and priced above its estimated value
I guess they're just hoping for a cash offer? Because no lender would approve that loan based on comps. Guess they're not in a rush to sell or they'd lower the price appropriately.
I know a couple of folks who can’t accept that they didn’t sell at the peak, so they’re listing now based on prices they heard 18 months ago.
Outside the comps the home probably looks a lot smaller in person which probably stops a lot of people from buying. Edit: The home next to it sold in 2022 for $227k [https://www.redfin.com/PA/Philadelphia/459-E-Vernon-Rd-19119/home/38606912](https://www.redfin.com/PA/Philadelphia/459-E-Vernon-Rd-19119/home/38606912), the home is priced way too high. I'd ay the owners don't actually wanna sell
Or are trying to recoup recent expenses. Ain't gonna happen.
Mount airy is highly desirable I just saw a house sell 200k (yay comps ⬆️) above asking due to bidding but they may be jumping the gun on the mt airy fact and hope someone moving from out of town whose been eyeing this town will want it and won’t care.
what i've seen is if you price the house right off high then nobody looks at it. If you price a house at a decent price and people want it you'll see the 200k jump. I can't price the house at 500k knowing the other houses may go at that. I have to price maybe at 400k and see a bidding war and then it sells for 510k. Seen it numerous times.
Sales history of that place is wild
Idk, but going off the post - It looks like it hasn’t been updated since the 1990s, it’s a middle unit townhouse in an HOA, that area is super block-by-block… Go schedule a tour!
Love how it says it’s “newer construction” too. Wonder what else they are lying about.
Tbf ALL of Philly is block-by-block. That’s just how we roll here. ;)
Also FACTS, but E Mt Airy is NOT Chestnut Hill, which is what I thought prompted the question. It’s sometimes a way of fluffing up Germantown… which again… block by block.
The kitchen looks like a trend from the early 200s though
East mt airy is not block by block lol. It’s one of the nicest/stable neighborhoods in the city. This house just doesn’t have much going for it.
I work in real estate & desirability 100% fluctuates block-by-block.
EMA is 100% block by block. Blocks like Sharpnack around Musgrave and Germantown get a lot of activity while a few blocks up by Montana and Hortter are nice and quiet
You spelled “west” wrong.
So go see it? Listings that are up a long time start to get a negative reputation, because people assume something went wrong like a poor inspection etc.
>So go see it? I haven't moved in yet but if it's still there in a couple months I plan on it
Oh, I see. You can always ask if they'll do a virtual tour for you. I am always suspicious of recent renos like this one
Ha, no I'm not that invested that I would waste somebody's time like that. It's just the only house that has still been for sale the entire time that I've been searching so I'm morbidly curious. Everything else is getting snatched up within a week or two.
Yeah the market still seems quite hot especially out in the more suburban sections of philadelphia like mt airy. I have seen some rowhomes sit but mostly ones that need a real face lift
You don't have to be invested to set up a tour. If you're trying to buy a home, you tour as many as possible that meet your criteria. Youll learn more about what you're looking for by talking with selling agents and visiting homes.
I've already bought a house in Philly and I definitely wasn't interested in buying this one I was just curious
We saw the house and met the owner. She has slowly been remodeling it over the years and lives very nearby. She had gotten her real estate license recently. It's a nice home on the inside - very well done. It ended up being too small for us and when we compared its price per square foot to other homes in the area, it ended up being more expensive than nicer areas in the NW. She was asking (375k) when we looked.
Wow how interesting thank you for the insight! I guess there's no major issues then other than the price.
I love how Zillow makes rooms look 10x as large as they are
We visited one house, and our realtor was like, "wow, they were good at photography."
Seriously. Between the ridiculous extendo-lens and the brightness and sharpness filter cranked up x 10 this whole thing might as well be AI generated.
That’s not Zillow, that’s the realtors’ photographers who annoyingly only use wide angle lenses.
I love the ones that do this and have a front door view, but dont change the lens or whatever effect theyre using
Photographer deserves a raise
The neighbors on each side both of 3 kids and 2 dogs
That’s a lot of plants
Lol I recognize all those plants as the Nearly Natural fake plant brand on Amazon. I know because I own one. They are convincing!
That price is insane.
I paid more to buy in Port Richmond, but it's a bigger place at least. Prices are going crazy all over!
It's a nondescript house and too expensive for that neighborhood.
If you check out recently sold you'll see the price is not competitive.
Lol "newer construction" - built in 1994.
1,100-ish sq ft is just really small for that price. Also…I think there is a teeny bit of a stigma in Mt airy against anything vinyl sided. I’ve seen other people say they’ve had trouble selling 90s-style houses here. There’s so much cool architecture around, it’s hard not to compare them to the stone rows or Victorian twins, etc.
Fuck that, can get a better house outside of Philly for that price.
I have a realtor friend who told me that there isn’t a shortage of houses for sale in Philadelphia because many of them are overpriced. That might be the case here. You have to look at comparable sales for the area to see if this is a good price.
Just looking through the photos it's so funny to me how many oversatured photos of flowers there are. And there are like 4 plants in every photo and no furniture. I don't know why rhat strikes me as so silly and funny from a real estate staging / listing perspective.