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Old 01-12-2020, 01:36 PM
 
2 posts, read 610 times
Reputation: 12

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Is it a crazy idea to find a bargain on a stone house and renovate it to our own taste?

This would be a good example.
[url]https://www.zillow.com/homedetails/1725-Ashbourne-Rd-Elkins-Park-PA-19027/9908938_zpid/[/url]

12/5/2019 Price change $499,900(-4.8%)
few drops...
5/28/2019 Listed for sale $575,000(+162.6%)
4/4/2019 Sold $219,000(-32.6%)

Could somebody recommend a website that provides tools to research such properties and historical trends? For example, I wanted to find houses flipped in the area (bought below average and on the market shortly after with price = area average or higher).

Realtor says that each deal is individual and special with a lot of options to consider, which I agree with. But still, there must be some stats and tools for investors?
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Old 01-12-2020, 04:27 PM
 
899 posts, read 539,932 times
Reputation: 2184
I don't think it's any different than working with other materials. You're renovating the inside and the inside isn't stone. The challenge may be exterior additions, if needed.

I'm more concerned about crappy flips. You see this in Mount Airy too much. Beautiful old stone house on the outside, some horrible urban loft flip inside with crappy home depot materials.

Elkins Park has some nice housing but the taxes are killers up there are the schools aren't what they used to be, which is why prices are dropping.
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Old 01-12-2020, 07:59 PM
 
2 posts, read 610 times
Reputation: 12
Yeah, I've heard some anecdotal stories about flip renovations, recycled appliances etc

Good point about Elkins park, we're definitely feeling tax pressure when looking at properties there.
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Old 01-13-2020, 08:43 AM
 
151 posts, read 199,057 times
Reputation: 122
Those taxes are cringeworthy.
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