All Forum Posts by: Tim DiCicco

@Ned Carey  That was my intention behind showing the numbers. The deal still makes sense @ 10-15k above asking price. Below are the numbers from the CMA. Are these helpful in gauging an offer price?

Results Statistics - Average

Status	Count	Average Original Price	Average Last List Price	Average Current Price	High Price	Low Price	Average DOM/PMP	Listed in Last 30 Days	Total Value of Current Price
Active	6	$87,633	--	$84,550	$107,000	$65,000	82/82	1	$507,300
Settled	5	$84,000	$79,380	$74,800	$95,000	$50,000	194/263	0	$374,000
Totals:	11	$85,982	$79,380	$80,118	$107,000	$50,000	133/164	1	$881,300

Average Settled Price to Original Price Ratio: 90.73%
Average Settled Price to Last List Price Ratio: 94.56%
Results Statistics - Median

Status	Count	Median Original Price	Median Last List Price	Median Current Price	High Price	Low Price	Median DOM/PMP	Listed in Last 30 Days	Total Value of Current Price
Active	6	$84,700	--	$79,900	$107,000	$65,000	60/60	1	$507,300
Settled	5	$84,000	$81,000	$73,000	$95,000	$50,000	249/249	0	$374,000
Totals:	11	$84,000	$81,000	$79,900	$107,000	$50,000	72/72	1	$881,300

Median Settled Price to Original Price Ratio: 89.87%
Median Settled Price to Last List Price Ratio: 95.1%

I just heard back from an offer I submitted. Asking price was $65,000. I offered $65,000.The listing agent came back with this statement:

What should I do? I ran the numbers at $65,000 and at $75,000 as you will notice I am being conservative with my expense numbers. Please below:

Any and all advice is very much appreciated.

Best regards,

Tim

That's a great question. Thanks for asking it. So many neighborhoods in Philly seem to be inundated wit investors. I'm not sure what the next Fairmont or South Philly would be. West Philly maybe? Its convenient to Center City and University City. IDK, just  a thought.

What are others opinion on this topic?

Here is another I use often. His office is right in the middle of the area you are interested in. Very processional and knowledgeable. He knows the investing business well.

Jibri Bond

• Office: (215) 848-4000
• Mobile: (215) 858-0306
• 244 W Girard Avenue, Philadelphia, Pa, 19123
• http://www.petersgordonrealty.com/

Good Luck and happy house hunting!

Born and raised in Port Richmond. Knows the area like the back of his hand.

Michael Fasone

215-768-8085

[email protected]

Neighborhood Real Estate

215-600-4098

Hi Freda welcome!

How are you going to advertise your deals? Do you have a website? Are you just working with investors you know?

I am always looking for deals in Philly.

All the best,

Tim