Volume 18: Issue 42 10/4/19
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Your Weekly Dose of Real Estate News, Open Houses, Listings and More — by Jeff “City” Block
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HomeLight is a national real estate referral company based in San Francisco, CA. Recently, HomeLight staff writer Christine Bartsch contacted me for a story entitled: “10 Tips for Selling Your Historical Charmer of a Home to the Right Buyer.” Christine knew that I had represented 100’s of historical homes throughout Philly, and I certainly enjoy discussing historical real estate, so I loved doing the interview. A few key points to historical real estate that are highlighted in Christine’s article:
- “Homes that go for the absolute premium in Philadelphia are homes that have historic character, [and they also] have some modern upgrades, like an updated kitchen with high-end, stainless steel appliances and really gorgeous bathrooms.”
In other words, buyers are willing to pay the most for a beautifully renovated home with historical character. Homelight’s research found that “buyers will be 50% more likely to make an offer on a home with stainless steel kitchen appliances and sellers will see a 41.5% ROI on their investment.” (HomeLight’s Top Agent Insights survey for Q3 2019).
Pro Tip: My clients see that ROI with no money paid upfront thanks to Compass Concierge.
By the way, 312 S Philip Street, the Spotlight Property below, is a perfect example of all of this.
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“Today’s buyer wants the beautiful floors, the high ceilings, the intricate moldings. But historic homes that have period furniture and heavy historic window treatments tend to look like cluttered museums, which can be harder to sell.
Sellers who want to get the most money for their homes need more modern staging with transitional furniture, and lighter, contemporary sheers on the windows. That way it’s easier to see the historic character that buyers will pay a premium for.”
So unless you actually live on Elfreth’s Alley, we should talk about the preparation and staging early in the process.
- Prepare a list of improvements that itemizes the age of your systems and mechanicals such as electric, HVAC, and roof. Even if Ben Franklin once lived in your home, no one prefers knob & tube wiring or older systems of any kind. Moreover, “Disclosures need to be thorough on historic homes…. That way, the buyers know what they’re getting into when making an offer, and they’ll be more reasonable when asking for repairs or credits after their inspection.”
This is a really detailed article and is about a five-minute read. So if you like historical homes, you can read the entire piece here. And if you have a historical home and would like to discuss anything about it in more detail, please contact me at any time. Even if you may not sell for over a decade, I can provide valuable insight into improvements, renovations, and other modifications that will affect ultimate value.
I pride myself on providing expert real estate representation throughout the City of Philadelphia. And that means knowing my stuff – neighborhood by neighborhood, block by block and house to house.
Have an awesome weekend,
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Saturday, October 5, 2019
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Spotlight Property of the Week
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312 S Philip Street in Society Hill
BRAND NEW LISTING
FIRST OPEN HOUSE: SUNDAY 12:30 p.m. – 2:00 p.m.
3 Bed | 3 Bath | Finished Lower Level | 2,500 SF | GARAGE PARKING
$975,000
Pristine historic home (c. 1816), loaded with original character and spectacular light on one of the city’s most desirable, quiet, tree-lined cobblestone blocks. Fully restored with an ideal modern layout and a private patio. And the current owners purchased a dedicated, secure garage space (just two blocks away—at Head House Square).
This sunny home offers the perfect mix of character and renovation, plus an ideal location. Just blocks from all the best restaurants, coffee shops, entertainment, and shopping of Society Hill, Old City, Penn’s Landing, and all that Center City has to offer. 2 blocks from the superb Head House Square Farmers Market In the McCall School Catchment. Listed on the Philadelphia Historic Register.
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The following listings are only found on compass.com. This means they’re not yet listed on the MLS. As a subscriber to “Around the Block,” you’ll always know what properties are coming soon. Interested?
Give me a call!
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University City (Spruce Hill)
4 Bed | 2.5 Bath
$749,000
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2 Bed | 2 Bath | Parking
$649,900
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1500 Chestnut Street #19I
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2 Bed | 1.5 Bath
$220,000
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18th Century “Ghost Ship” Docks
at
Race Street Pier
Look—It’s a boat! It’s a ghost. Well, it’s actually a super cool, three-dimensional light and water-based, free public art installation. You can see it Friday, 10/4 through Sunday, 11/3,
Wednesdays through Sundays from 7:00 p.m. to 10:00 p.m. (rain or shine). This holographic happening is especially mesmerizing to kids. Once the “oohs” and “ahhs” have quelled, take them to Little Baby’s Ice Cream next door at Cherry Street Pier. Detailed Ghost Ship info here. Photo: DRWC.com
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Midtown Village Fall Festival Returns Saturday, 10/5
This always-fun festival draws about 50,000 people each year. They come for the food, they come for the deep discounts from cool, independent boutiques and they come for the eclectic vendors and crafters. This awesome outdoor event also boasts live entertainment, children’s activities, and cool places to just chill and take it all in (think seasonal hay and festive pumpkin displays). 13th and Chestnut. Noon – 8:00 p.m. More info here.
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Get to Know Philly Foodworks
Philly Foodworks is dedicated to building a better network among local farmers/producers and consumers. They offer high-quality, sustainably produced food year-round. You can shop their online market a la carte and you can also customize items with a recurring subscription (membership). Philly Foodworks offers fresh produce, meats, cheeses, baked goods, pantry items, and prepared foods,—plus farm share boxes. Learn more about it here.
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DesignPhiladlephia – Now through 10/13
The schedule of events is impressive and diverse. Don’t miss the Philadelphia Furniture Show, a multi-media, student installation at Cherry Street Pier, Herman Miller’s Annual Modern Classic Exhibit and Citywide 2019 Design Displays. Lots of people are also talking about “Seeing Old City, 83 On, Photographic Projects By James B. Abbott and James Wasserman“
(The exhibition represents Wasserman’s personal portraits of residents and shop keepers in the 1980s that defined the cobble-stoned neighbor that he called home.) Produced by the Center for Architecture and Design each October, Philly’s local artists in multi-media are thrust into the National spotlight, fueling our city’s ongoing creative economy.
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This Week’s Featured Listings
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2004 Delancey Street
2-Car Garage
6 Bed | 5 Bath | 2 Half-Bath
$4,195,000
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264 S 9th Street
Garage Parking
OPEN HOUSE: SAT 12:30 – 1:30 p.m.
4 Bed | 2.5 Bath
$1,495,000
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276 S 23rd Street
Garage Parking Available
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312 S Philip Street
Garage Parking
NEW LISTING
OPEN HOUSE: SUN 12:30 – 2:00 p.m.
3 Bed | 3 Bath | Finished Lower Level
$975,000
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2138 Catharine Street
Garage Parking
OPEN HOUSE: SAT 1:00 -2:00 p.m.
3 Bed | 2.5 Bath
$975,000
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2108 Carpenter Street
NEW LISTING
FIRST OPEN HOUSE:
SAT 12:00 – 2:00 p.m.
4 Bed | 2.5 Bath
$675,000
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304 S Juniper Street
OPEN HOUSE: SAT 11:30 – 12:30 p.m.
3 Bed | 3 Bath | Finished Lower Level
$600,000
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University City (Cedar Park)
6 Bed | 2.5 Bath
$569,000
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2024 Spruce Street #6
OPEN HOUSE: SAT 1:00 – 2:00 p.m.
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2401 Pennsylvania Avenue #2A2
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2219 S 18th Street
OPEN HOUSE: SAT 11:30 – 12:30 p.m.
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Just a quick reminder that I’m always humbled by and appreciative of your referrals. If you have a friend or family member that is in need of expert real estate representation, please send them my way. Be assured, I will do my best to exceed their expectations! Thanks for taking the time to read this issue of Around the Block.
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Some imagery in this e-newsletter was sourced via Visit Philadelphia®.
Pixabay, Canva.com, and pexels.com
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© Compass 2019 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass RE is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
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