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When a House in The Penn Alexander Catchment Won't Sell, Will Dropping The Price Make a Difference?

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On the first of this month, this house was placed on the market for $70K more than its current asking price of $425,000. It's a large five bedroom Victorian with a front porch, a back deck, a fireplace, and a yard. Located near the corner of 46th and Baltimore, within the Penn Alexander Catchment, this house has a prime University City location, so why was a price drop thought necessary?

Though it's probably true that the original asking price was a little high, even for a house of this size and location, a clearer picture of the situation emerges when the listing photos are examined carefully. While many West Philly Victorians boast well preserved elements of historic character, gleaming hardwood floors, and spacious, updated kitchens, this house offers a somewhat shabbier interior.

In fact, price dropping may not make this house sell at all: it may need a little bit of work before it finds a buyer.
· 910 S 46th St [Trulia]