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Philadelphia, PA Real Estate News

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 January 13, 2009   Philadelphia Active 8313 Pending 1249 3rd Qtr Average Price $182,100 DOM 65 Bucks County Active 3408 Pending 413 3rd Qtr Average Price $359,300 DOM 68 MontCo Active 4576 Pending 560 3rd Qtr Average Price $346,500 DOM 66 DelCo Active 2981 Pending 430  3rd Qtr Average Price $284,600 DOM 64 Call for commercial and multiuse activity reports.  
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By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
HGTV. Flip That House. Step Aside !  Meet the real American Idols in Philadelphia. I am referring to 2 clients that Chris and I helped purchase their first home in Old Kensington.  We first met Ramona as she pulled up to us on her bike the day she became our tenant.  A year later we met her partner Matt (www.mattdimon.com) and ended up helping them purchase their very first home, a huge distressed property a few blocks from the apartment.   Ramona and Matt were looking for something completely unique, a space that would serve as a working studio and a home.  They opted for a FHA 203K loan program which is somewhat like a construction type loan. The buying process, unlike American Idol, was no song and dance. It was a challenging on many levels.  As a condition of the loan, Matt and Ramo...
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By Susan Mangigian, Chester & Delaware County Homes, Delaware and Ches
(RE/MAX Preferred)
I love it over at facebook, and my cousin Joe Carlini sent me an invitation to join a group called Gravy Wars, South Philly Food Feuds and Attytudes.  Growing up, we always called the red sauce you put on pasta (macaroni for us South Philadelphians) gravy.  It wasn't until I was an adult that I realized that for the majority of people in the area, gravy was brown and you put it on roast beef.  Well, we call that brown gravy! If you are having a seafood sauce, my mom always called it seafood gravy.  Just putting crabs in it... crab gravy.  Very simple. Of course, this was only one of the many things that I realized was different about me than my non Italian friends.  When I go out to lunch, I love to get soup and a 1/2 of a sandwich.  Now, when the menu says, your choice of bread. to me ...
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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 January 12, 2008   Philadelphia Active 8293 Pending 1240 3rd Qtr Average Price $182,100 DOM 65 Bucks County Active 3401 Pending 411 3rd Qtr Average Price $359,300 DOM 68 MontCo Active 4558 Pending 553 3rd Qtr Average Price $346,500 DOM 66 DelCo Active 2960 Pending 420  3rd Qtr Average Price $284,600 DOM 64 Call for commercial and multiuse activity reports.
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Dr Hanh Vo,Broker owner, e-PRO | Vihi Realty Co. | 215-271-1035 or 267-664-2689 6350-6354 Saybrook Avenue, Philadelphia & Subburbs, PA Retail/Commercial offered at $275,000 Year Built 1930 Sq Footage 6,000 Floors 1 Parking Unspecified Lot Size 13,875 sqft Maint $0 per month DESCRIPTION Total 4 properties are in one deed for sale or leases. This sale is including about 6000 sqft building needs renovation and 7500 sqft paved parking lot. Nice opportunity to purchase it all and open a business center or a retail businesses strip mall. The piece of land has 185 feet frontage and two corners on 64th street. Zoning is commercial. You could imagine and open a Laundromat, a restaurant, an auto repair, an auto details...or something new. One of the owners is a Real Estate Broker see additional ...
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Dr Hanh Vo,Broker owner, e-PRO | Vihi Realty Co. | 215-271-1035 or 267-664-2689 1429 S. 19th street, Philadelphia & Subburbs, PA 4BR/2.5BA Multi-Family, 2 units offered at $219,900 Year Built 1925 Sq Footage 2,196 Bedrooms 4 Bathrooms 2 full, 1 partial Floors 2 Parking Unspecified Lot Size 1,206 sqft HOA/Maint $0 per month DESCRIPTION Priced as a foreclosure but it is a better than new total renovation 2x2 corner duplex in most sought South Philadelphia. It is in an excellent location in south Philly just a few minutes driving to center city, Washington avenue business areas, and major highways 95, 76. This large corner house has a beautiful set up and total redone with central air, central heat, new floor, modern kitchens, new appliances, new bathrooms, new bedrooms, new electrical, c...
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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 January 9, 2008   Philadelphia Active 8275 Pending 1254 3rd Qtr Average Price $182,100 DOM 65 Bucks County Active 3403 Pending 415 3rd Qtr Average Price $359,300 DOM 68 MontCo Active 4544 Pending 555 3rd Qtr Average Price $346,500 DOM 66 DelCo Active 2952 Pending 429  3rd Qtr Average Price $284,600 DOM 64
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By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
Northern Liberties Real Estate Stephanie and I have been admiring the development of this great building by Tower Investments in Northern Liberties (first 2 photos) .  So today we took some of the photos to share on our blog.  Also, the last photo was a nice view of Liberties Walk last night before we went out to dinner at Dos Segundos .  The photo was taken after getting a haircut at DNA Salon .  To the left is 1-Shot Coffee (our favourite coffee in the neighborhood !) and to the right is Brown Betty which has the most delicious cupcakes in Philly ! We love living in the neigborhood and are very bullish on Northern Liberties real estate in the future - as is Business Week - see Business Week's top 15 places to buy real estate .                                                           ...
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By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
Short Sale Challenges and Success in Graduate Hospital  (Philadelphia Real Estate) On December 31, we had a short sale miracle !  One of the toughest short sales we have been involved with in Graduate Hospital settled on new years eve !   Listing a property as a short sale typically brings with it great challenges.  Your chances of success are diminished due to all the hurdles that you can go through to get to settlement.  It becomes a business decision for the agent to decide when they take the listing if it makes sense to move foward or to pass.  If it does succeed, one more short sale does mean one less foreclosure ! In this case, the seller's bank took forever and a day to approve the deal.  One of the reasons for the delay was that this was one of the banks that is pretty much not ...
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By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
5 Extra Steps When Purchasing an Investment Property in Philadelphia   This post was inspired by a recent Trulia question we answered .The "extra" steps needed to buy an investment property in Philadelphia for the purpose of renting are all about the professionals you surround yourself with and anticipating the future.   1) Determine if you want your property under a corporate name or your personal name. Your accountant or lawyer can possibly advise you on the benefits of each. 2) Make sure your home owners insurance policy covers your needs as a landlord. The homeowner policy you purchase should take into consideration vacancy coverage in addition to the typical fire and flood. Consult a professional and ask about their policy on making claims due to negligence of a tenant, neighboring...
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By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
Short Sale Challenges and Success in Somerton (Philadelphia Real Estate) Listing a property as a short sale typically brings with it great challenges.  Your chances of success right from the beginning are diminished due to all the hurdles that you can go through to get to settlement.  It becomes a business decision for the agent to decide when they take the listing if it makes sense to move foward or to pass.  If it does succeed, one more short sale does mean one less foreclosure !   On December 30th, we had a successful settlement for a property that was a short sale in Somerton (Philadelphia Real Estate) from a listing that we initially put on the market in March 2008.  After 3 buyers and many hurdles, the goal was accomplished ! Below is the story of the deal: 1.  Listing taken in Ma...
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By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
 5 Steps in Choosing a Realtor to sell your property Over the Christmas holiday, I was inspired to write this post as my parents announced their interest to sell their home in a different state.  I found myself doing the 5 steps below to help them find the best listing agent for their needs.   Selling your property in today's market requires much more skill and marketing expertise by the realtor you choose to represent you.  Several years ago, it was much easier as all your realtor really needed to do was list the property on the Multiple Listing Service (MLS) and wait for a deal in a few weeks, or often a few days !    Back then, every realtor looked like an expert no matter their level of expertise.  Now it is much more critical to have expert representation to navigate through the ma...
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By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
Happy Holidays Stephanie and I had a great time taking a break for the XMAS holiday and visiting our parents as well as my sister and her family in Midlothian, VA.   The holidays are a great reminder in terms of how important family is as well as how important it is to take a break from the crazy real estate market from time to time. Below are some of the photos from XMAS day !   Ty received a cereal box that had a serious special suprise inside !                          Zach received some deodorant that will definitely make him more popular and will have him wanting to use that same brand year after year.                   Lynn Christine received some lip gloss that had a treat inside it !                             Kara and Doug enjoying some coffee post-dinner on Christmas Eve.    ...
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By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
Christmas Cats One of my favourite things to do when I visit my parents in Midlothian, VA is to relax and enjoy some quality time with their 2 Maine Coon Cats, Oscar and Katje.  Our cat Charlie (an Active Rain star) has a little Maine Coon him as well. Below are a few photos from this past XMAS of Oscar and Katje:               I hope everyone had a fantastic holiday visiting friends, family and of course pets ! ________________________________________________________ The Somers - Philadelphia Real Estate The Philadelphia Real Estate Blog Click here to receive our Blog updates via email !    
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By Peter Lavelle REALTOR®, Your Home SOLD 4 Times Faster Than MLS Average
(eXp Realty (888) 397-7352 Ext:1148)
Philadelphia Active 8955 Pending 1281 3rd Qtr Average Price $182,100 DOM 65 Bucks County Active 3537 Pending 445 3rd Qtr Average Price $359,300 DOM 68 MontCo Active 4819 Pending 577 3rd Qtr Average Price $346,500 DOM 66 DelCo Active 3135 Pending 428  3rd Qtr Average Price $284,600 DOM 64
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By Peter Lavelle REALTOR®, Your Home SOLD 4 Times Faster Than MLS Average
(eXp Realty (888) 397-7352 Ext:1148)
Once upon a time we were "all" children with innocent minds and free from worry. Well that also depends on who you may ask, I know some people that claim they were never young; and some that have not grown up yet. As children we were told by our parents and guardians, or maybe this is just innate in us, that when something on us hurt it was a "Boo Boo". When my boys decide they do not want to listen I tell them they will go to Donkey Island, watch Pinocio if you do not know, and the "Moo Moo" will get them. What is a Moo Moo? It is a Filipino version of the Boogey Man, and something my wife was told as she grew up in the Philippines. Two very simple terms for us parents and guardians, and children to get a point across. Now what does this all mean in this blog? How often have we in our ...
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By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
Dual Agency In the last couple of weeks, I have been thinking about Dual Agency and it's place in the Philadelphia real estate market.  In some states, it is not allowed.  In Pennsylvania, it is.  On the consumer notice it states: "Dual Agency is a relationship where the licensee acts as the agent for both the seller/landlord and the buyer/tenant in the same transaction with written consent of all parties."   I am interested in knowing what other people's opinions are regarding dual agency.  I have done several dual agency transactions this year and I have a feeling it will continue to be more frequent as a direct result of the intensive internet marketing that we do on our listings.  Basically, since we do so much marketing, often times buyers will come directly to us.  When they do, w...
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By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
A Port Richmond settlement due to a Google Search and our Active Rain Blog This past week I had a settlement for a property in Port Richmond.  The deal was a super deal as the purchasor was an experienced investor who paid cash with no inspections.  It was also a fast settlement, less than 3 weeks which benefited all the parties involved.  It came about in a typical way as a buyer emailed Stephanie and I with an interest in Philadelphia investment properties (specifically in Port Richmond).  We then referred the buyer to a team member and within a week he moved forward on this Port Richmond property which was also our listing. But the story gets better !!  At settlement, the buyer asked me if we have had success in short sales.  I said certainly and shared a few examples.  In fact, we j...
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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 Real Estate Activity December 19, 2008 Philadelphia Active 9008 Pending 1307 3rd Qtr Average Price $182,100 DOM 65 Bucks County Active 3566 Pending 474 3rd Qtr Average Price $359,300 DOM 68 MontCo Active 4853 Pending 622 3rd Qtr Average Price $346,500 DOM 66 DelCo Active 3151 Pending 439  3rd Qtr Average Price $284,600 DOM 64
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