Special offer

Philadelphia, PA Real Estate News

By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
Today when my wife Stephanie and I were on way back from hosting open houses in Port Richmond and Old City, we were driving in to our condo parking lot in our Northern Liberties home at 2nd and Poplar and saw the mural at the end of the street (Newmarket St) being worked on by two local artists.  The mural has become quite a sight - it is a reminder of how great of a neighborhood we live in - in Northern Liberties !! We spoke with the 2 local artists - le Josh and Erica.  le Josh invited us to his art show which will be in Old City tomorrow night so we might stop by.  Both artists were smiling and having fun and did not mind us talking to them and let us take their picture while they were painting. One of the photos we really like is the mural (which is painted on the side of I-95) with...
Comments 11
By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
19122 makes up Olde Kensington and Yorktown.  Some people will refer to the area as JUNOGI (just north of Girard Ave) Contact Chris and Stephanie Somers at thesomersteam@yahoo.com for more information and market statisitcs and trends regarding Olde Kensington and the Olde Kensington real estate market.. From August 2007 to July 2008, there were 356 units listed in Olde Kensington, of which 84 are pending and 78 sold. The average listing price was in Olde Kensington was $211,700 and the average days on market is 75. For the properties that have sold in Olde Kensington, the average listing price was $162,992 and the average sold price was $142,373. Outlook:  A lot of inventory remains on the market in Olde Kensington (174 properties).   19122 is a small zip code so 174 properties is quite...
Comments 0
By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
19125 makes up Fishtown and New Kensington Contact Chris and Stephanie Somers at thesomersteam@yahoo.com for more information and market statisitcs and trends regarding Fishtown and the Fishtown real estate market.. From August 2007 to July 2008, there were 944 units listed, of which 355 are pending and 346 sold. The average listing price was $203,651 and the average days on market is 71. For the properties that have sold in Fishtown, the average listing price was $179,946 and the average sold price was $160,654. Outlook:  A lot of inventory remains on the market in Fishtown (243 properties) although a good sign is that the average days on market for the properties that sold in June and July inched down to 59 and 69, respectively.   Overall, even with excess inventory, properties are st...
Comments 0
By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
    Today myself and Stephanie will be doing open houses seperately in Old City from 12 to 2.  Then we will go see how our team is doing for 2 more open houses in Port Richmond from 2:30 to 4:00.  Basically, it will be open house day today !!!! Honestly though, what is your opinion of the open house ?  Does it benefit the seller ?  Or does it benefit the realtor more for the leads that come in ? We do the open houses as a courtesy to our listing clients.  It certainly cannot hurt.  And it may create a "Buzz" about the property.  The more people in a specific property, the more positive outcomes there can be.     WHAT DO YOU THINK ? Philadelphia Real Estate        Philadelphia Real Estate Blog
Comments 40
By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
19106 makes up Old City and parts of Society Hill  (Philadelphia Real Estate) Contact Chris and Stephanie Somers at thesomersteam@yahoo.com for more information and market statisitcs and trends regarding Old City and Society Hill as welll as any additional neighborhood within Philadelphia.  Also view some of our new construction Old City Listing projects . From August 2007 to July 2008 in Old City, there were 744 units sold, of which 219 are pending and 244 sold. The average listing price for Old City is $692,191 and the average days on market is 99. For the properties that have sold in Old City, the average listing price was $622,304 and the average sold price was $567,755. Outlook:  A lot of inventory remains on the market (281 properties) although a good sign is that the average days...
Comments 0
By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
A Philadelphia Sale - Port Richmond Success ! We just had a successful sale and settlement in Philadelphia, in the Port Richmond section, for a beautiful 1-year old new construction property. The sellers that we represented became friends and we look foward to having a congratulatory dinner with them in the upcoming month or two.  Some clients are just a pleasure to work with and to communicate with - these were those folks.  It was an honor to represent them in the sale of their home. The clients were smart from their past experience and listened to us and followed our recommendations as well.  For every showing, their property was super clean, they always stepped outside with their dogs when buyers were to arrive.  Even though they had dogs, the property never had an odor.  It was ba...
Comments 0
By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
There have been several inquiries in terms of what Charlie - our special term member - has been up to.  He has been thinking about Philadelphia real estate trends in his home office in Northern Liberties and "out-of-the-box" marketing ideas !!!  Below is Charlie in action !!!     Charlie is contemplating !             Charlie is brainstorming !         We will let you know what he comes up with ! Stephanie just asked when he is going to close some deals - will keep you posted ! Chris and Stephanie Somers     Philadelphia Real Estate    Philadelphia Real Estate Blog !
Comments 8
By Stacey McCarthy, @SmartGirlsOwn
(McCarthy Real Estate)
You won't know what you are getting yourself into unless you hire a professional to check out your new home. Make sure there are no hidden costs for repairs you may be buying in addition to your house. There's a great website to find home inspectors in any area. They are members of the American Society of Home Inspectors, which is a non-profit professional organization that follows an oath of Standards of Practice and Code of Ethics for inspectors. Go to http://www.ashi.org or visit my website www.StaceyMcCarthy.com for a link to their site.
Comments 2
By Stacey McCarthy, @SmartGirlsOwn
(McCarthy Real Estate)
Forclosures... enticing thought for a new homebuyer. Seems like it would be a no-brainer to pursue a home that is bank owned. If it's a forclosure, that means it's a bargain, right? Maybe, Maybe NOT. These days, bank forclosures may or may not cost less than the average home on the market. And they come with many pitfalls that leave them on the market for quite some time. If the home was not purchased at the Philadelphia Sherrif's Sale... For more, click here to go my home blog.
Comments 2
By Christopher Orth
(Coldwell Banker Hearthside)
If list your home with me, be assured that keeping you informed of all client interest and market activity is a high priority of mine. Whether by phone, by e-mail, or by written notification, I will report regularly to you and keep you apprised of all relevant information including: Broker feedback from broker tours and open houses Client feedback from showing appointments including broker feedback Advertising notifications Any new market data or trends affecting the sale of your home Review of your home's marketing activities Suggested adjustments to your marketing plan or pricing strategy If you are interested in selling your property but have not listed yet, it would be my pleasure to show you all the ways in which I can effectively market your property through a Listing Presentation...
Comments 0
By Christopher Orth
(Coldwell Banker Hearthside)
Though you may be willing to spend a certain amount, the real determination of how much house you can afford is driven by how much a lender calculates you can afford. So before you begin to search for the perfect house, it is very important to begin the homebuying process by getting preapproved. Getting preapproved for a home mortgage loan will provide you with a preliminary statement on the size of loan for which you can qualify. Knowing this, you can then focus your home search. In general, lenders allow your total monthly housing costs to go as high as but not more than 30 percent of your gross monthly income. The second requirement is that not more than 36 percent of your gross monthly income can be tied up in the total monthly house payment and payments on long-term debt. Lenders ...
Comments 0
By Christopher Orth
(Coldwell Banker Hearthside)
Living with Cystic Fibrosis I have been blessed with Cystic Fibrosis.  You might think I am crazy for saying that I am happy that I have CF but it has truly made me a different person.  This is a disease that affects 30,000 people.  For most this would be a very bad thing.  For me its just day to day stuff.  Yes I take six pills with every meal and snack, wake up to do an hour and a half worth of meds before I start and finish my day, and eat four times the typical person just to maintain my weight but If I didn't have CF, I wouldn't be the person I am today.  So I truly believe I have been blessed with Cystic Fibrosis.  To learn more, just keep reading below and check out their website www.CFF.org. What Is Cystic Fibrosis? Cystic fibrosis is an inherited chronic disease that affects th...
Comments 1
By Christopher Orth
(Coldwell Banker Hearthside)
Philadelphia's Local Realtor Christopher Orthrecognized as an Accredited Home-Staging Specialist and is awarded the AHS Designation.   Philadelphia, Pa, April 4, 2008 - Christopher Orth, a member of Coldwell Banker Diamond, Realtors was recently awarded the Accredited Home-Staging Specialist (AHS) designation.  Orth joins a select and growing group of real estate agents who have recognized the importance of providing this value-added service to their clients.  In today's increasingly competitive real estate market, these trained agents set themselves apart by helping homeowners market and showcase their homes for maximum impact to potential buyers. Orth earned the AHS designation by completing the prescribed coursework and completing an end-of-course competency-based test.  The Accredit...
Comments 0
By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
As realtors, we are on the front lines of the market place and have a pulse on what is going on in our local markets through watching the activity and keeping track of showings on our own listings. Every morning, I look at the activity in the Philadelphia Real Estate Market (primarily center center, Old City, Northern Liberties, Fishtown, Olde Kensington, Port Richmond and Bridesburg).  I look at the new listings and the properties going under contract.  What I have noticed is that there has not been too many new listings outside of the occasional realtor withdrawing a property and relisting it to show as new.  In addition, I have seen many properties go under contract, specifically in Fishtown and Port Richmond. Further, I keep track of all the showings on all of our listings.  This pa...
Comments 5
By Roland Woodworth, Blue Cord Realty
(Blue Cord Realty)
A BIG Congratulations to Jon BonJovi and the  Soul in defeating the San Jose SaberCats in the 2008 Arena Bowl. The final score was 59 to 56. It was a real nail biter til the end. John BobJovi's Philadelphia Soul won the game in their first ever trip to the big game in the 5 year history of the team. The SaberCats were playing in their 4th Arena Bowl in 7 years. I Miss my Nashville Kats ! Now it's time for the NFL Football Season to get started ! Go Tennessee Titans !
Comments 5
By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
19123 makes up Northern Liberties, Brandywine East and parts of the Loft District. Contact Chris and Stephanie Somers at thesomersteam@yahoo.com for more information and market statisitcs and trends regarding Northern Liberties. From January to July 2008, there were 321 units listed, of which 84 are pending and 67 sold. The average listing price was $477,910 and the average days on market is 95. For the properties that have sold, the average listing price was $416,297 and the average sold price was $387,893. Outlook:  A lot of inventory remains on the market (199 properties) although a good sign is that the average days on market for the properties that sold in June and July inched down to 74.  If you would like a free market evaluation of your home or are interested in purchasing in th...
Comments 1
By Ronald Gillis, CNSA Southwest Florida. Notaries, Port Charlotte, 941-7-NOTARY
(Southwest Florida Notaries (Mortgage Notary Signing Agent))
I am saddened my Tampa Bay Storm were not there, but my brother took a couple of pictures from the stadium since he was there rooting for Philly.  But that is OK, my Storm have still won five, yes five championships in their sixteen year history, including their very first year of existence!  It took Philly FIVE years to get to the same point that it took Tampa ONE year!!  That is an average of just over every three years per championship!  (Sorry, I am a numbers kind-of guy!!)  They have been to the championship game six times, so they are pretty good once they make it there!  Coach Marcum has also won six championships (one with Detroit prior to coming to Tampa!)  They have won more championships than any other arena football team.  They had a streak of fifteen years in a row at least...
Comments 0
By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
I just read this article .  It includes the following: -- First-time homebuyers get a tax credit of up to $7,500. Comments Scharin of Thomson Reuters: "This provision contains some catches: The credit is more of an interest-free loan than a complete giveaway; in general, taxpayers will have to pay back the credit they claim over 15 years. Also income limitations restrict eligibility." WHAT ???                   1.   Why in the world would income restrict elgibility ????  Why bother putting a tax credit to begin with ?  What are the income restrictions ?  What is the difference between a lower income house purchasor and a higher income house purchasor ?  THEY ARE BOTH HOME BUYERS !  It seems like discrimination to a degree to me. 2.  Even then, it is not a credit at all to even the lower...
Comments 11
By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
One of our clients settled on their property today in Philadelphia (Graduate Hospital). It is always a great feeling to help buyers and sellers accomplish their goals.  Helping a young couple and their young son purchase their first home was a very rewarding process.  These buyers had some bad luck dealing with other realtors in the past.  Even with our first two offers that were submitted, the deals did not go through - we were worried that they would think it was a reflection on us !  But then we got them under contract for the best property of all of them - a fantasic new construction at a great price ! At the settlement we took a couple of photos with the buyer and seller and then one with myself included as well.   Today was a great day to be a realtor - it warms my heart and makes...
Comments 1
By The Somers Team, Delivering Real Estate Happiness
(The Somers Team at KW Philadelphia)
The theory is pretty simple.  If you would have another chance to invest in Northern Liberties 10 years ago, would you  ?  If so, you would do what I would do, get liquid and buy everything in sight !!  My wife and I now own 2 properties in Northern Liberties but we have only owned them for 4 years and 2 years, respectively so we did miss that huge appreciation burst from 2000 to 2006. However, I believe there still is another opportunity for both homebuyers and investors - that is Olde Kensington - 19122.  Olde Kensington is just North of Girard, from Front St to Sixth St (or farther west) and from Girard to Norris (or further north).  The higher prices for now are closer to Girard.  Some people call this area JUNOGI (Just north of Girard).   My wife Stephanie likes to call it "Little ...
Comments 2
Explore Philadelphia, PA