January 19, 2015 |
If I've learned anything since the downturn, it's that you cannot predict the future of the real estate market, either in the short term or the long. When paired with "all real estate is local," predictability goes out the window, because what is happening nationally or regionally may not be the Hi-Nella experience. Yet each year, housing economists make a stab at predictions. I'm not singling out Jed Kolko at Trulia for any reason other than I have his prediction. Consumers, Kolko said, are upbeat, and they think 2015 will be a better year than 2014 to buy, to rent, and especially to sell.
January 9, 2015 |
The grand houses of Northwest Philadelphia aren't a tough sell for real estate agents. The schools are another matter. Lifelong West Mount Airy resident Rich McIlhenny, a RE/MAX real estate agent, had not set foot inside a neighborhood public school until Wednesday, when he and others whose job it is to sell the city toured five of its schools. The aim was to show that, very real budget crisis aside, the city schools can be a solid option for many families. "I do a lot of my work in this area, and people are always asking, where are the good catchments?"
January 5, 2015 |
Treetop Development, a Teaneck, N.J.-based real estate firm formed by two high school friends, is making a second major investment in Philadelphia by renovating the 504-unit apartment towers at 5450 Wissahickon Ave. in East Falls. Many commuters no doubt will drive by what is now known as Charter Court without noticing the new ownership. But plenty of people live in East Falls, too, and "we were interested in buying it as a transport hub-based development," said Adam Mermelstein, co-founder of Treetop.
January 4, 2015 |
Camden's L3 Communications building on Market Street, long seen as housing some of the city's best office space, was sold this week to a major South Jersey real estate firm for $35 million. The 575,000-square-foot property was owned by the state Economic Development Authority, which last year reached a sales agreement with the city's Cooper's Ferry Partnership. This week, the Cherry Hill-based Needleman Management company, along with a group of investors, purchased that agreement, company president Howard Needleman said.
January 4, 2015 |
Repeat after me: "All real estate is local. " Never mind what you see on CNN or hear on NPR before All Things Considered puts you to sleep. They may try to convince you that there is a "national" real estate market. What you need to remember is that it's all local - right down to the block. When we compare what's happening in our eight-county market with the buying and selling going on elsewhere in the country, it often reveals a hugely different experience. The difference most frequently mentioned is how price declines here didn't match those in most other regions of the U.S. in the months and years after the housing bubble burst.
December 30, 2014 |
A billion dollars still buys a lot of real estate in Philadelphia. That's how much commercial real estate brokers in the Philadelphia office of Jones Lang LaSalle say they sold here in 2014. It was a record for the firm, said executive vice president Doug Rodio . The company claims it is the largest adviser to big building-sellers in the region. Prices are up. See, for example, Radnor Court, the brick-and-glass, 121,000-square-foot complex where Airgas has its headquarters on Radnor-Chester Road, near the Radnor SEPTA station.
December 13, 2014 |
Alvin "Bud" Plumer was "one of the most respected, trusted, honorable Realtors" in the Greater Philadelphia Association of Realtors, Allan Domb, the group's president, said. "Not only was he a nice guy," Domb said Thursday, he was "a pleasure to do business with. " Mr. Plumer was, Domb said, "a Philadelphia real estate icon in the eyes of our 2,000 members, but also in the Philadelphia community which he served. " Mr. Domb, head of the Philadelphia firm Allan Domb Real Estate, said Mr. Plumer "mentored hundreds of Realtors who went on to become successful in their real estate careers.
November 17, 2014
ZEN LEN likes feng shui, but doesn't like to be categorized. As an artist, Leonard Bazemore works in wood and clay - and watercolor, oil and acrylic, too. Before his ascent into art, he built his bankroll as a real estate agent - and real estate remains a key in his strategy for success in the art world. It seems contradictory. Commerce and art are usually mutually exclusive, but not for Zen Len. When he was about 10, he delivered newspapers and bought himself sneakers.
November 16, 2014 |
Lansdowne native Jeffrey Tubbs comes from a hardworking family. His father, David, has worked as a plumbing contractor for more than four decades. But the younger Tubbs preferred the city to the suburbs. He attended high school at Friends Select in Center City, then went to Boston University and on to the University of Pennsylvania for a master's in urban planning. Now 37, he's an active developer, currently working to convert vacant lots on Frankford Avenue into commercial space and condos and doing smaller townhouse projects around the Northeast.
October 18, 2014
A real estate broker from West Chester has been charged with wire and mail fraud for cheating investors out of more than $2 million in a real estate ponzi scheme, according to the U.S. Attorney's Office. Marie Mikesche Bontigao, 43, persuaded people to invest in her real estate projects and then used the money to pay personal expenses and operate her business between 2007 and 2013, according to court records. She has franchise locations of EXIT Realty in Philadelphia, New Jersey and Delaware.