July 11, 2016 |
Summer is not the easiest time of the year to sell a house, or to buy one, for that matter. Or is it? "I often tell sellers the best time to list is when they are ready," said Chris Somers, broker/owner of Re/Max Access in Philadelphia's Northern Liberties neighborhood. "If it happens to be the summer, that is fine, as the market is still very busy year in and year out," he said. Despite the arrival of summer, Somers said his office has been "super busy. " Not as busy as the spring, "but you certainly do not want to wait to get your property sold if you are ready now. " "And there are buyers now," he emphasized.
July 10, 2016 |
The venerable Counselors of Real Estate is a group of 1,000 individuals, invited to join, and considered the crème de la crème of the industry. Every year, the counselors come up with a list of the top issues facing real estate, and 2016-17 is no exception. Here is some of what the counselors are predicting about the residential real estate market. Age matters. Millennials have overtaken the baby boomers in sheer numbers, but both groups remain substantial real estate consumers.
June 19, 2016 |
Back in the 1990s, real estate sales data were considered closely guarded secrets - by some, at least. That meant one of the most difficult things about this job was finding numbers to support what real estate agents were saying about the market. Fortunately, there were some Realtors who thought the attempt at secrecy was nonsense and successfully argued that, in the words of one, if they didn't provide sales numbers when the market was bad, how would I know when it was good.
June 12, 2016 |
A reader recently complained that I spend more of my time writing about real estate than about fixing up things. I write for the Real Estate section, and news articles elsewhere follow my byline with the words real estate writer . I guess he doesn't get past my name on those. Rather than spend this June day droning on about some topic or another, I'll just present a bunch of "real estate" facts and let you choose what you want to read. Before I do, a home tip for the reader: When embedding a nail, a hammer works almost all the time.
June 11, 2016
ISSUE | REAL ESTATE TAX Transfer levy unfair All Philadelphians should have safe, healthy, and affordable homes. It is equally important, however, that the city encourage home ownership, not create barriers to it. City Council should not take on $100 million in new debt and increase the city's real estate transfer tax to fix homes in disrepair ("Proposed transfer-tax rise assailed," June 3). Such a tax is regressive and narrowly based, and it falls disproportionately and unfairly on those who can least afford it. Low- and moderate-income families spend a greater proportion of their income on their mortgages and home purchases.
June 4, 2016 |
Philadelphia City Council President Darrell L. Clarke told a panel of state lawmakers Thursday that he opposed a bill that would amend the state constitution to allow Philadelphia to impose different tax rates on commercial and residential real estate. Although he would like the General Assembly to be allowed to establish classes of property - currently forbidden by the state constitution's uniformity clause that requires all real estate to be treated the same - he said the current bill could tie the city's hands in harmful ways.
May 2, 2016 |
One in a continuing series spotlighting real estate markets in the region's communities. Next year will mark a milestone for Trappe. The Montgomery County community founded by German immigrants - it's the birthplace of Frederick Muhlenberg, the first (and third) speaker of the U.S. House of Representatives - will be observing its 300th birthday in 2017, and there's a steering committee already organizing the celebration. The past is, of course, on the front burner every day in this historic community.
April 27, 2016 |
The energy level in the conference room on the 16th floor of 8 Penn Center was so high that, if harnessed, it might have kept the El running for a week. At the table were the players in GoldOller Real Estate Investments, save chief operating officer Jake Hollinger, who was live from Florida on a big screen. Presiding was founder and CEO Richard S. Oller, who with partner/president Jeffrey Goldstein leads a Philadelphia-based multifaceted operation of property management, sales, and investment services, valued at $1.5 billion-plus after just a few years in the making.
March 13, 2016
As I wrote in this column last week, I recently spent a couple of hours in a room filled with enthusiastic real estate agents and brokers, all of whom appeared to be happy in their work. I talked to many of them, and everyone expressed hope for the spring market. There are those among you who will say, "Of course, they are enthusiastic because it would be counterproductive to be otherwise. " That may be true, but having covered the local real estate community through two major downturns since 1990, let me say I've seen them much less enthusiastic.
March 9, 2016 |
A Los Angeles-based real estate investment and brokerage firm has acquired the 11-story apartment building at 1510 Chestnut St. from Philadelphia's Pearl Properties. Blatteis and Schnur closed in October on the 34-unit building, which has a ground-floor Foot Locker store, managing director Sam Brownell said Monday. The company also owns 1519 and 1521 Walnut St. Brownell declined to disclose his company's purchase price for the Chestnut Street building. A record of the transaction filed with the city assigns it a fair market value of $8.34 million.