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Story of Selling a Home in a Competitive Market

Chris Somers

In 2003, Christopher Somers united forces with his wife Stephanie, a Philadelphia native, to engage in a real estate career...

In 2003, Christopher Somers united forces with his wife Stephanie, a Philadelphia native, to engage in a real estate career...

Feb 27 3 minutes read

It’s not every day that a client reaches out at 2 am to review a 25-page contract, but that’s exactly how Stephanie Somers and client Nili solidified their relationship. Nili was purchasing a new construction home while living overseas and needed an agent she could rely on. At the recommendation of her sister, she reached out to Stephanie who immediately calmed her nerves and gained her trust. 

They finally met face to face when it was time to pick out finishes (hardwood flooring, designer lighting, and cabinetry) and upgrades for the home. Jetlagged but amazingly excited, she made exquisite selections. The build took almost a full year and she happily settled with her family in Northern Liberties.

Fast forward 3 years and 2 investment purchases later... Stephanie’s client, a homeowner, Real Estate investor, and now close friend, wanted to sell her 2-year-old home in one of the toughest markets. The Northern Liberties' new construction market is one of the most difficult places to sell due to high price points and a large inventory of homes in the surrounding neighborhoods. Fishtown and Old Kensington are hot spots for new construction.

New construction, spurred partly by the 10-year tax abatement, has put Philadelphia on the map as one of the most desired cities to live on the East Coast. One of the first areas to experience this new construction boom was Northern Liberties, creating a lot of action prior to the market crash. Since the recovery, Fishtown and Old Kensington have developed rapidly. This explosion of new development has raised the bar of competition in Northern Liberties. 19123 still at the top of the chart for high priced homes is now competing with 19122, and 19125. 

To prepare for the sale, Nili did as Stephanie instructed, a thorough touch up paint job, fixed a few odds and ends, and Stephanie showed her how to stage the entire home for sale. The price started high but after a small price adjustment, it sold! 

The journey and advice from an experienced, trustworthy real estate agent helped this client meet her goals and helped Stephanie Somers earn a wonderful friend. That is what we call Real Estate Happiness.

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