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Philadelphia, PA Real Estate News

By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
The Northern Liberties Settlement Must Go On ! Last night, the news was that we were expecting close to 10 inches of snow for Philadelphia.  The seller was doubtful that the settlement would happen today due to the snow.  When I woke up, the Northern Liberties streets were covered with snow with basically the whole city shutting down.  Below are 2 photos this morning, one from our rooftop at Poplar Estates and one from our deck. In any event, the settlement was for 9:30 am.  I got a text from the buyer's agent that they were all there !  I had called Liberty Cab to pick me up at 9:20 am but with the weather and the roads they did not pick me up close to 10:00 am.  I was going to trudge through the snow but my wife Stephanie did not want me to test the elements (bless her heart !).  In a...
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By Hannah Williams, Expertise NE Philadelphia & Bucks 215-820-3376
(HomeStarr Realty)
Driving down to Center City Philadelphia on the I 95 highway..I decided to share some of these facts and photos of Philadelphia Pa.I am on my way to meet a client to show a restaurant I have for sale in Philadelphia's  Society Hill  section on the border of South ST.shopping district.... Here are some historic facts of Philadelphia.The Philadelphia area sometimes nicknamed "The City of Brotherly Love";"The Cradle of Liberty",or my favorite,"Philly"is the largest city in Pennsylvania.The architects designs dates back to Colonial times and includes a variety of styles old and new.Including skyscrapers built of glass and granite..You will see the lovely Victorian,Greek revival,Neoclassical,Ultra modern,Log cabins,and Grand Estates.. For much of Philadelphia the most typical and popular des...
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By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
Philadelphia Short Sales: Opportunity for Qualified Buyers ! For those of you who are not certain exactly what a Short Sale is, here is my definition: When a homeowner sells their home to a buyer for less than what they owe on their mortgage and the bank agrees to accept that lesser amount as payment in full. In essence the lender agrees to forgive and forget. Hardship must be substantiated of course and some lenders may not completely forgive and forget but for the most part they do. At least that has been my experience. We have 3 new Short Sale properties that we listed in the last week. It is our unrelenting goal to help our clients toward a fresh start. And what a fantastic opportunity for qualified buyers to take full advantage of these potentially discounted homes. 522 Montrose St...
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By HGTV My First Place
(HGTV/High Noon Entertainment)
      HGTV is looking for First-time Homebuyers to be on “My First Place!”One of HGTV’s most popular series, “My First Place,” will be in Philadelphia for its SEVENTH season to film first-time homebuyers through all the trials and tribulations of looking for, bidding on and ultimately buying their first place! Each half-hour episode features people making the dream of homeownership a reality! We are currently looking for homebuyers who are:* Buying their FIRST place* Buyers that are going to be closing before the end of 2009.* Will be buying within a 90-minute radius of downtown Philadelphia.Candidates who are chosen for the show will also receive a housewarming SURPRISE gift at the end of filming to thank them for being on the show! Singles, couples and families are all encouraged to a...
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By Hannah Williams, Expertise NE Philadelphia & Bucks 215-820-3376
(HomeStarr Realty)
  A beautiful Historical Estate the Glen Foerd located in the Torredale section of Philly.Pa is quietly nestled away.It is a riverfront Estate hidden away from the busy city yet minutes away from the busy street's of Philadelphia..The public is invited you may enter and enjoy Victorian architecture.Walk enjoy the seasonal gardens.What a view of the Delaware River and New Jersey ..They also do Weddings,Parties,and Corporates events.....dated 1850 conveniently located: you may take - 95-US 1-Amtrak or PA TURNPIKE hope I Have been Helpful Hannah Please visit my Website HelpfulHannah.com
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By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
RE/MAX Awards - 2008 Production We received 2 prestigous awards from RE/MAX pertaining to accomplishments reached in 2008 and wanted to share them with our clients, subscribers, readers and the awesome Active Rain community. The 2 RE/MAX Awards Received were: 1.  5th Place - Total Production for the State of Pennsylvania 2.  3rd Place - Total Transactions for the State of Pennsylavnia We wanted to thank everyone for their participation in these awards, especially all the great clients we worked with during 2008 in addition to our great staff and management at our RE/MAX Affiliates office in Philadelphia. For other consumers and Realtors reading this, this shows that there still is a lot of activity out there and houses ARE still selling.  I don't have the exact number but I believe we h...
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By Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel
(RE/MAX Centre Realtors)
I was glad to read in the newspaper that the Philadelphia Sheriff's office is working to protect the rights of homeowners who are behind in their mortgage payments. The link is www.phillysheriff.com You can call a Hud approved counseling agency at 8005694287. Also see if you qualify for Homeowner's emergency mortgage assistance program HEMAP by calling 800 342-2397 The most important thing to do is to call your lender and see how they can help you.Do not ignore letters from lender. If you are thinking of selling please use an experienced agent .
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By Reid Rosenthal
(Prudential Fox and Roach REALTORS)
WASHINGTON, February 25, 2009 Existing-home sales declined in January with some buyers waiting to see how details of the economic stimulus package would affect them, according to the National Association of Realtors®. At the same time, inventories fell to a two-year low. Existing-home sales – including single-family, townhomes, condominiums and co-ops – fell 5.3 percent to a seasonally adjusted annual rate1 of 4.49 million units in January from a level of 4.74 million units in December, and are 8.6 percent lower the 4.91 million-unit pace in January 2008. Lawrence Yun, NAR chief economist, said there was understandable hesitation by some home buyers. “Given so much stimulus package discussion in January, some would-be buyers simply sat out for clarity and certainty on the nature of hou...
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By Hannah Williams, Expertise NE Philadelphia & Bucks 215-820-3376
(HomeStarr Realty)
 I now understand..I am a Blogger ..A new one but a Blogger ,,Driving down a busy Center City street in Philly Pa..not to far from the the Liberty Bell..camera in one hand..window rolled down..freezing cold..cell phone ringing..hoping for a red light..just so I can get a photo of the horse and carriage ..
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By Hannah Williams, Expertise NE Philadelphia & Bucks 215-820-3376
(HomeStarr Realty)
 Look at some of the First Time Home Buyer's out there!    Sure the recovery plan can create some of the FIRST TIME BUYERS to fly off the fence and into the home buying market!!!!      $8000 tax credit ..NO REPAYMENT!!! Lets get the word out there!   TELL YOUR FRIENDS ..NEIGHBOR'S ..FAMILY ...EVERYONE! First time home buyer it may not be the home of your dreams ;but start small become a homeowner..In years to come you can trade up for something larger. If you keep sitting on the fence you may not get that great TAX CENTS $$$$$  
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Working at home offers the benefits of making your own hours; though it may mean working more hours, you will be doing what you like doing and getting paid for it.  A home-based business might be right for you, but realize, it also has a downside.   Is your home right for your choice of business?   Before considering starting your home-based business, you need to determine if you have the necessary space needed to operate your business.  If you live in a condo or an apartment, there may be restrictions as to what you can and cannot do in your business.  There might be zoning requirements to be considered.  There is also some liability exposure for some types of businesses.  You may need additional insurance to protect your self.   Distractions of working at home   Working from home can ...
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By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
4 Main Reasons Why Philadelphia Houses Do Not Sell   Below are the 4 main reasons why Philadelphia houses do not sell.  I believe these 4 reasons are also the main reasons in any geographic market as well: Each reason is also the subject of it's own individual blog entry so please click on each link for further explanation. So without further wait, the secrets (and solutions) are below:     1. Price - Improper pricing from the beginning and failure to adjust the price when needed. Solution:  Research and analyze the current market and identify the best starting price from the very beginning. 2. Poor Advertising and Insufficent Marketing Solution:  Market Market Market - make sure your Realtor is an expert internet marketer ! 3. Difficulty Showing the Property - You cannot sell propertie...
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By Hannah Williams, Expertise NE Philadelphia & Bucks 215-820-3376
(HomeStarr Realty)
After a Sunday morning and afternoon at the office i decided to take a brisk walk with my camera in hand through my condo development located on the Delaware River.. Delaire Landing I wonder How Old are the Trees??? when i down- loaded the photos I was very pleased and thought others may enjoy them..especially people not familiar with the Philadelphia Pennsylvania area .or even the people who were ;and have left the area ,and crave a little taste of home..It's not all tall buildings and skyscrapers..I hope you enjoy ...if you do my next one will be Bakers Bay Condo..I would appreciated any comments  or suggestions
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By Reid Rosenthal
(Prudential Fox and Roach REALTORS)
Tax Credit for Homebuyers First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit.  Remember a tax credit is very different than a tax deduction – a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income. The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000.  Buyers will have to repay the credit if they sell their homes within three years. Additional Housing-Related Provisions Tax Incentives to Spur Energy Savings and Green Jobs — This provision is designed to help promote energy-efficient investments in homes by extending and expand...
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By Reid Rosenthal
(Prudential Fox and Roach REALTORS)
I just completed the Green Designation course offered through the National Association of Realtors.  I recommend this for any Realtor who wants to stay on top of the latest real estate trends as well as anyone who is interested in helping save our environment.  In the near future, Green New Construction and Greener existing homes are going to be in huge demand due to informed customers looking to save money and live healthier lifestyles or who just want to be part of the whats cool or "Eco Chic" movement.  Weatherizing and making homes more efficient is not only going to save you money every year but its going to help make the Earth a healthier place for generations to come.  Building new homes without VOC's or Volatile Organic compounds or replacing materials in existing homes containi...
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By Hannah Williams, Expertise NE Philadelphia & Bucks 215-820-3376
(HomeStarr Realty)
Sunday morning at the office read my favorite blogger's posts,set up appointments,made calls to clients  Before i knew it it was late afternoon so home to Delaire Landing in Phila.Pa Since my appointment was there for the following day I decided to take a brisk walk with my camera..First I came across the Geese at the pool..then while walking down the paths i came to the observation deck where I came to some of my favorite senior citizens.They never recognize me without my bathing suit so i ask "when does the pool open"The funny thing is they know! Oh Hannah its you! Opens in ninety three days! You really have to love them!  I do..  we chatted some more....it was too cold for me BRRRR.....I ventured home..of course they stayed.......Sometimes i wonder just how old are the trees??? Pleas...
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By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
How do you determine your offer price ?  Strageties and Tips ! How do I figure out a fair bid on a home ?   Every buyer asks this question. To the naked eye it seems like a pretty simple question, but it can become anything but simple ! Hidden in that inquiry are an infinite number of variables that can affect your answer.  In determining your bid for a home, you must first have an idea of what you believe is a fair sale price. Fair sale price is based on solid facts and statistics as well as some more challenging variables that are relative to the buyer's needs. How do I determine a fair sale price ? Comparable Sales (Comps) + Personal Value = Your Fair Sale Price Comparable Sales:  Comparables or comps for short are based on the value of similar properties that have SOLD within a 3-6 ...
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By Dale Cosack, Newtopias: The Cosack Team
(BHHS Fox & Roach Realtors - Newtown)
The 38 home community had it's first sales at the end of ‘08 and the beginning of ‘09.  749 Maple Ln. #3 dropped it's asking price from $259,900 to $209,900 and went under agreement for that price settling on 11/17/2008.  745 Maple Lane #1 dropped it's price from $264,900 to $209,900 and that settled for $210,000 on 1/10/2009.  Currently in our MLS there is only one active property, 747 Maple Lane #2 that has also dropped it's price to $209,900.  The other listings have all been withdrawn at this time. This community started offering the properties in May ‘07 so after  nearly two years on the market they have sold for approximately 20% less than their original asking price.  This does not reflect our local market as we have not seen the same sharp decline other areas of the country have...
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By Peter Lavelle REALTOR®, Your Home SOLD 4 Times Faster Than MLS Average
(eXp Realty (888) 397-7352 Ext:1148)
Current Residential Real Estate Activity February 13,2009 Philadelphia Active 8514 Pending 1424 Bucks County Active 3552 Pending 542 MontCo Active 4700 Pending 719 DelCo Active 3009 Pending 537 Call for commercial and multiuse activity reports.
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