About Philadelphia's Olde City

Happy Halloween Weekend from Philadelphia !

Both Stephanie and I have been so busy the last week or two we barely have had time for ourselves, let alone a holiday ! Halloween is such a festive and fun holiday we hope everyone took some time to enjoy it.

Earlier in Northern Liberties, while looking at a property, we experienced a fun and festive Halloween crowd ! It was great to be a part of it and see all of the smiles, the costumes and the families. The energy alone gave us inspiration to go out to dinner at Jones- one of our favorite, trendy spots in Center City / Old City.

The filet mignon was incredible and the service and ambiance was exquisite. We even came home in time to have not missed a pitch from game 3 of the World Series since it was delayed. As I am writing this, the game is just about to begin.

This is a reminder that no matter how busy you are, it is so important to take a moment and enjoy ! Smile ! Life is beautiful !!

We just sold one of the condos in the Pier 3 Condominium building as settlement was this past week ! Pier 3 is located at Penns Landing, which is the most visited river front location in Philadelphia. The Pier 3 Condos are literally built on a pier that stretches out into the Delaware River. It offers amazing views of the river as well as the Ben Franklin Bridge. Inside includes a 24 hour doorman, a wonderful indoor pool and a fitness center.

It is not easy getting these types of properties sold in this market. But with the right Realtor on your side providing intensive Internet marketing and advertising for your property, it certainly can help !

Below are a couple of photos of the Pier 3 Condominium Building - the first one being a photo of Chris out front of Pier 3 being proud of the recent settlement !

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If interested in buying or selling properties in Penns Landing, contact Chris and Stephanie Somers at thesomersteam@yahoo.com or 215-400-2612 . You can connect with us on Facebook and Twitter . For investment properties, check out our new investor site at Philly Investor Hub !

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Areas of specialty include Northern Liberties, Old City, Penns Landing, Center City, Fishtown, Graduate Hospital, Art Museum, Queen Village, Pennsport, Old Kensington, Port Richmond, Bridesburg, Society Hill, Loft District, Spring Garden and more !

Please visit my Website HelpfulHannah.com

Old City Real Estate - To stage or not to stage ?

Studies and statistics show that staged properties will sell not only faster than non-staged properties but also sell for a higher amount than non-staged properties ! With those facts alone, I'm sold !

However, when I first started in real estate, I was not as sold since the market was stronger. And often times, properties did not need to be staged since the supply / demand factors greatly benefited the seller. However, when the market started to turn, I began to learn from my wife Stephanie Somers the importance of having a staged property (neat and clean as a whistle) or at least have a property that was free of clutter.

So in the spring, when we sold one of our condos, it was a no-brainer to get it staged. Sure enough, we sold it fast and for a great price. And now, we just listed another condo in Old City. We have some before and after photos of the property vacant and the property staged. The vacant does not look too bad but all and all, the pictures really tell the story.

I will report back and say how long it took to go under contract and what the percentage of the selling price will be to the listing price. Or if we could not sell it at all and we ended up renting it.

The staging was done by Karen Miller - please check out her site - Karen Miller Transformations ! And her Active Rain blog ! Also, before it was staged, we had the property cleaned by Tidy Dwellings . They do a great job !

BEFORE PHOTOS

AFTER PHOTOS

The next time you have a property to stage, what will you do ?

If interested in buying or selling a property in Old City or in Philadelphia, contact Chris and Stephanie Somers at 215-400-2612 or thesomersteam@yahoo.com .

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19106 makes up Old City - Old City Market Statistics

Contact Chris and Stephanie Somers at thesomersteam@yahoo.com for more information and market statisitcs and trends regarding Old City and the Old City real estate market.

From January 2008 though October 2008, there were 576 units listed, of which 171 went pending and 175 sold.

The average listing price was $467,264 and the average days on market is 88.

For the properties that have sold in Old City, the average listing price was $411,648 and the average sold price was $381,993.

The current inventory is 230 properties. With the average being 17.5 properties selling per month, there are 13 months of inventory on the market.

Outlook: A lot of inventory remains on the market in Old City (230 properties). The differential is now at 92 percent of the listing price. With inventory on the rise and the days on market creeping above the average in the last 10 months, prices will probably start to drift down. For example, the average days on market in Sept and Oct 2008 were 134 and 152. Some of these listings are from new construction and developers that will either need to bring prices down or rent out some of their units instead. Is an excellent time for a buyer in this area as the location is prime within Philadelphia.

If you would like a free market evaluation of your home or are interested in purchasing in Old City contact Chris or Stephanie Somers at RE/MAX Affiliates at 215-400-2612 or email thesomersteam@yahoo.com. Also, view our Old City listings. Look up 1000s of listings on our website as well as learning more about us. Also, please visit our blog !

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