All Forum Posts by: Account Closed

Hello, Brandon. From what I gathered, due to the comps that are not similar, there were adjustments made to determine the retail value. I still stick with my conservative retail value of $230,000-$240,000. Our vision is to compete with the 2bed/1.5bath "recently solds" by adding a second bathroom (half bathroom) by the basement. To me, using 115 McClellan Street, 19148 (due to similarity and its close proximity) as a blueprint is my intended goal. That sold for $259,900 within 3 months on the market. Of course, this will increase my renovation costs, but the retail value, I believe, would increase as well. I'm having a total of 4 estimates done by contractors. I really enjoy Neal Rogove's vision and incredible detail when he renovates homes. He's of Housing Solutions. If I had him take on the project, I know I could get top price for the sale based on his work.

Awesome, Mohamad! If you'd like to view the property, let me know!

I forgot to mention one of the bedroom doors to be replaced.

Hello, Mohamad. The renovation costs don't include a complete renovation, just to redo the exterior, add a bathroom to the basement, repaint, replace carpeting, and to add a breakfast bar to the kitchen area.

Hello, Mark. It was priced at $160,000, then dropped to $140,000. I'm not quite sure why an owner occupant hadn't purchased it.

Hello, everyone. I posted about having my HUD bid accepted in the Buying & Selling Real Estate forum yesterday. The address is 149 Pierce Street, 19148. Details are provided below:

Purchase Price: $120,000

Renovation Costs: $30,000-$35,000 ( property is in move-in condition, but our plan is to finish the full basement and add a 2nd bathroom there, replace carpeting, knock out the kitchen wall to add a breakfast bar, repaint, and remove siding to add brick, or perhaps granite for an immaculate finish)

Conservative Retail Value: $230,000-$240,000

Our wonderful Ugochukwu Opara provided me with a detailed comparative market analysis, and based on said analysis, the retail value is $264,000.

Here's a link to access the analysis:

http://www.narrpr.com/report.ashx?report=4ae6eb8e%5c6651-4f02-9719%5ce680383ee4b8%5cProperty-Report_149-Pierce-St-Philadelphia-PA-19148_2013-10-19-01-02-00.pdf&isauto=False

I've gotten the contractor's estimate! Our subject property is completely in move-in condition! Our thoughts are to finish the full basement and add a bathroom there, knock out the wall leading to the kitchen to insert a breakfast bar, replace carpeting, repaint, and take off the siding and replace with brick or granite for an exquisite finish. So, we're looking at $30K-$35K in renovation costs!

You're very welcome!

Good morning, Shequann. I'm not familiar with that area, but will be in touch if I decide to focus on the Pocono region.

115 McClellan Street sold for $259,900 on 8/21/13. It hit the market as active on 6/27/13, went to pending on 7/22/13, and sold on 8/21/13. 122 Fernon Street, which I consider an outdated comp due to my 3 month rule, sold for $247,000 on 5/30/13. It hit the market as active for $274,900 on 1/13/13, went to pending on 4/29/13, and sold for $247,000 on 5/30/13. Due to 115 McClellan having an extra bathroom (.5) and 122 Fernon's time on the market, we came to a conservative retail value of $230K-$240K.