The Philadelphia Real Estate Blog

When I came back into Philadelphia from an out-of-state Thanksgiving vacation on Saturday, the taxi dropped me off in Northern Liberties.  When I got out of the cab, I saw an open house sign in front of a condo complex I am familiar with. I was a bit shocked !  An open house on Thanksgiving weekend ?  On a Saturday ?

The agent was standing outside.  My first immediate thought was "you poor soul... why are you doing this ?".  I told Stephanie I was going to ask her if the seller was making her do this or if it was her own choice.  Then I realized, either way it was her own choice.  Even if the seller did ask for it, she just have easily could have said no.

Why would someone choose to spend their Thanksgiving weekend doing an open house ?

Would you as an agent host an open house on Thanksgiving weekend ?  What is your work strategy during the holidays ?  Take advantage of the free time to work or take a break ? 

As a seller, would you want your agent hosting an open house during this time frame ? 

I strongly encourage open houses as we do them when the timing is right and when they are bringing in traffic.  They are also an excellent way to meet with some new buyers.

I would recommend to the seller for the open house to be on a weekend where the traffic would be the highest, either in the beginning of the listing or combine it with a price reduction.  In Northern Liberties, most open houses are on Sunday so I would also suggest to do it on that day since there would be the benefit of picking up residual traffic from buyers visiting other properties.

What would you do ?  Would you do an open house on Thanksgiving weekend ?

Please share your thoughts in a comment below !

 Open Houses - Why do we do them ?

Driving around Northern Liberties and Fishtown today, I saw a multitude of open house signs.  In fact, I was on my way to hosting an open house when I started thinking about open houses a little deeper...

I knew all of the open house properties today and was thinking that maybe a certain listing might get some open house traffic and chances are that most of the other ones would get zero.  Than I got to wondering why Realtors do open houses in the first place. 

• Is it being demanded of them ?
• Part of their listing strategy ?
• Part of their price reduction strategy ?

I know why we do them, but for other Realtors I am not sure.  For example, there is one listing in our area where the agent is hosting an open house every Sunday from 1 to 3.  The property has been on the market over 2 months with zero price reductions and is probably listed at least $20 to $30K too high.  I felt bad for her that she was spending her time this way but also, it is her choice, and her only listing I believe.

So the flip side of this equation is:

• Do open houses every weekend show "desperation" ?
• Why not have an open house 24/7 on the Internet instead ?
• Why would buyers magically appear on Sunday between 1 to 3 when they can go anytime during the week ?

So it got me thinking more on why we do open houses for some of our listings.  But am curious to what you think.  Do you do them ?  What are your goals when you do them ?  To sell the house ?  To obtain other buyer and seller leads ?  Is it part of your listing strategy ?  Is it part of your price reduction strategy ?  If you are a seller, is this important to you ?  Critical ?  If you are a buyer, are open houses the times that you go look at houses ?  To find an agent to work with ?

Whether you are a Realtor, a mortgage professional, a consumer, a seller, a buyer or anyone interested in this topic, please let us know your opinions on the above.  We will continue our discussion in the comments !

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If interested in buying or selling properties in Philadelphia, 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, Center City, Fishtown, Graduate Hospital, Art Museum, Queen Village, Pennsport, Old Kensington, Port Richmond, Bridesburg, Society Hill, Loft District, Spring Garden and more !

NORTHERN LIBERTIES OPEN HOUSE TOUR ON 9/14 FROM THE SOMERS TEAM

Please join us on Sunday from 1 - 3 at the following open houses in Northern Liberties.  Each of these properties are unique and are in terrific locations within Northern Liberties. 

122 W Laurel St -  3br/2.5 baths  $359,900

737 N 2nd St - Unit 1  2br/1ba     $337,500

707 N 3rd St # C  2br/2ba            $219,900

 122 W Laurel - $359,900

This is a completely rebuilt 3 story, bright and sunny corner row property in the heart of Northern Liberties with 3 bedrooms and 2.5 baths. The large finished basement has ceramic tile flooring and 2 windows for plenty of light plus a storage area. Bamboo hard wood flooring runs throughout the entire home. The 1st floor offers a spacious living room with open dining area, a beautiful eat in kitchen, deep set sunken windows, a laundry room, powder room and access to the fenced in rear patio.

 There is exposed brick on each floor. The 2nd level offers 2 bedrooms with a master bath and hall bath and the 3rd floor is one room with 2 bright dormer windows. There is plenty of closet space throughout. Everything is new from the custom cabinets, granite counters, HVAC system, electric, roof, and alarm system. Exquisite details and craftmanship throughout. There is a 10 yr tax abatement. Enjoy all the restaurants, coffee shops and Liberty Lands Park just one block away ! House across the stree just sold for $450,000 

 737 N 2nd St, Unit 1 - $337,500

Welcome to this wonderful 1st floor, 2 bedroom, 1 bath condo in the best location in Northern Liberties, the corner of 2nd and Brown! The condo is the entire first floor of a three story building, with its own private entrance. The condo was originally known as a garment factory (Garden Looms) and it is zoned for live and work. This space has 10.5 foot ceilings, exposed duct work and a very modern feel. Since it is a corner building, there are many windows providing tons of natural light. The kitchen has modern stainless steel appliances and solid wood cabinets.  

 There are honey colored bamboo floors throughout, with the exception of the tiled bathroom. The condo is 1125 square feet, with generously sized rooms and an open floor plan. The master bedroom has a walk-in closet. Additionally there is an enormous 500 square foot private basement, which is unfinished but is heated/AC. The unit also features a full sized washer and dryer. The condo fee is only 160/mo! 

707 N 3rd St # C - $219,900

 Welcome to this friendly gated courtyard setting filled w/gardens. Tranquility is the backdrop for this demure 2 bedroom 2 bath property. Perfectly tucked away off of N 3rd St and Fairmount w/ gated access to Bodine St. and N 3rd St. Walk to Higher Grounds coffee shop or N 3rd restaurant. This is a trinity style property where each floor is one room w/a modern looking layout, plenty of windows, and natural light throughout. The kitchen is open above to the main floor living room, w/ a utility room and laundry room. The bedrooms are like private suites since they are on individual floors and have their own large private baths. Some of the newer features include recessed and track lighting as well as new replacement windows. The property has central air and the heater has been recently serviced. This is a great value and opportunity to live in one of the most desired parts of Northern Liberties. The property is in move-in condition w/room for updating to fit your personal style and taste.

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