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Old 12-29-2007, 11:33 AM
 
Location: Bronx, New York
3,276 posts, read 6,495,637 times
Reputation: 1328

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.....I have to ask. I can't believe that there are some houses that are under 100K. I saw listings in Philly.com. Is this true? Some are under 50K, some over 2000 sq. ft. And some were very well renovated and looked very nice. I'm from New York, and I've always had a fascination with those victorian-style row houses; the makeup, the wood. I have friends in Spruce Hill, and their house is straight georgeous (yes, I know Spruce Hill is more expensive, being near Penn).

I do understand that the neighborhoods of West and South Philly are rough. But be that as it may, I am thinking down the line of an investment. Remember, I'm from NY (Bronx, exactly), where even the roughest neighborhoods do not have homes that cheap! Mortgage for a 50K home is like a student loan (some of those homes I saw listed were fully reno'd)! Like I said, I understand them hoods is rough and Philly has had major issues lately. But I still inquire. Peace.
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Old 01-01-2008, 09:11 PM
 
8 posts, read 34,266 times
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Yes. This is true. Depending on the area and the condition, you can get a place in that price range. realtor.com is accurate as the listings on there are all downloaded from local MLS services. the only problem is that sometime the listings may be sold or expired for a few days before realtor.com is able to relay that to the public.

tina
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Old 01-03-2008, 04:29 PM
 
Location: Bronx, New York
3,276 posts, read 6,495,637 times
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Are tax benefits/abatements offered by the city/state for renovations?

In NY, there are, for multi-dwellings.
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Old 01-07-2008, 11:20 AM
 
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Default this may help

taxabate (broken link)
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Old 02-12-2008, 05:24 PM
 
Location: Philadelphia
116 posts, read 411,038 times
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Scatman I'll tell you one thing you see a house for 50k in West or South philly you arent in a good area. I live at 16th and Porter and the house around here sell for 150k to 200k. Now go down about 3 blocks to 19th street and you are looking at an easy 200k-350k that is Girard estates. I dont know much of West philly because to be quite honest with you because most of it wasnt that much of a great area when I was younger. I know there was an Italian section in West Philly closer to the City Line area. I can guarantee you if you are looking at a house for 50k you dont want to live there. Thats at least my opinion on it I hope that helps you.
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Old 02-12-2008, 05:46 PM
 
1,983 posts, read 6,842,474 times
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Quote:
Originally Posted by scatman View Post
.....I have to ask. I can't believe that there are some houses that are under 100K. I saw listings in Philly.com. Is this true? Some are under 50K, some over 2000 sq. ft. And some were very well renovated and looked very nice. I'm from New York, and I've always had a fascination with those victorian-style row houses; the makeup, the wood. I have friends in Spruce Hill, and their house is straight georgeous (yes, I know Spruce Hill is more expensive, being near Penn).

I do understand that the neighborhoods of West and South Philly are rough. But be that as it may, I am thinking down the line of an investment. Remember, I'm from NY (Bronx, exactly), where even the roughest neighborhoods do not have homes that cheap! Mortgage for a 50K home is like a student loan (some of those homes I saw listed were fully reno'd)! Like I said, I understand them hoods is rough and Philly has had major issues lately. But I still inquire. Peace.
You might be tempted by these prices but realize they are cheap for a reason and if they are THAT cheap they usually don't make good investment properties.
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Old 02-12-2008, 09:22 PM
 
8,048 posts, read 18,469,927 times
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One thing that is interesting about Philly is that a lot of the older housing stock is pretty similar. The only difference is that maintenance of those homes is more successful and consistent in some neighborhoods than others.

As realtors stretch and blur the line between University City and the rest of West Philly, a lot of formerly challenged areas are getting spruced up. But it's amazing how the price points change by hundreds of thousands of dollars within a few blocks. Assuming one is looking south of Spruce, I'd say between 50th and 52th Street is the current dividing line, so to speak. Some trailblazers or bargain hunters are mixed in with longtime residents.
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Old 02-14-2008, 11:06 AM
 
Location: Bronx, New York
3,276 posts, read 6,495,637 times
Reputation: 1328
Thanks for the info, y'all.

I have friends who live around the Penn Campus/Spruce Hill (40s and Pine). Now, that's a beautiful area. The houses I saw listed are around the 50s and 60s and Haverford, If I'm correct.

I also have friends who live in North Philly and Elkins Park.

OK, I gotta stop acting like a New Yorker when thinking about this. The last time I saw houses that cheap in NYC was like 30 years ago! Once again, thanks for the info. I'll still investigate; it won't hurt to still inquire.....!
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Old 02-14-2008, 12:43 PM
 
8,048 posts, read 18,469,927 times
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The Spruce Hill section does have some great looking homes. They will definitely set you back some $$$ though. You'd probably get more for the same price living out in Elkins Park.

That stretch of Haverford Avenue isn't bad. Someone from the Bronx would do just fine. If you're going to do North Philly, I'd recommend Yorktown, West/East Oak Lane or any area bordering Center City.

Quote:
Originally Posted by scatman View Post
Thanks for the info, y'all.

I have friends who live around the Penn Campus/Spruce Hill (40s and Pine). Now, that's a beautiful area. The houses I saw listed are around the 50s and 60s and Haverford, If I'm correct.

I also have friends who live in North Philly and Elkins Park.

OK, I gotta stop acting like a New Yorker when thinking about this. The last time I saw houses that cheap in NYC was like 30 years ago! Once again, thanks for the info. I'll still investigate; it won't hurt to still inquire.....!
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Old 02-14-2008, 02:55 PM
 
Location: Philadelphia
116 posts, read 411,038 times
Reputation: 113
You know not for nothing spend a little more and Germantown has some really nice houses in that area.
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