August 11, 2016 |
The city of Philadelphia is officially a sellers' real estate market, as a continued shortage of inventory has pushed up prices for properties listed for sale. Economist Kevin Gillen, senior research fellow at Drexel University's Lindy Institute for Urban Innovation, said the second quarter of 2016, which ended June 30, saw median prices 13 percent higher than April-through-June 2015. The increase pushed the city's median price for single-family homes to a record $145,000, he said - even as homes sell in an average of just three months, a pace that meets the industry standard for a sellers' market.
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.
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.
January 17, 2016 |
One in a continuing series spotlighting real estate markets in the region's communities. Cathie Palumbo sold real estate part time during the 30 years she worked for the Norristown Area School District. A Norristown native, she moved to East Norriton seven years ago, when her husband, who has since died, was no longer able to handle the stairs at their Lansdale home. That was 2008, just as the real estate market "started to crash," she says. "I paid too much for it," Palumbo acknowledges, "but it doesn't matter because I love this house, and I'm not planning to leave it. " Her relatives run a funeral home, and "I've told them to just carry me out of here when it is time to go," says a laughing Palumbo, now a full-time agent with Weichert Realtors in Blue Bell.
December 3, 2015 |
"I'm starting to make it rain in the real-estate market," says four-time Emmy-winning meteorologist and so-called blackballed former Fox 29 weatherman John Bolaris . Bolaris is now a real-estate agent targeting clients who are athletes and in the entertainment industry. He goes by the adage "Sky's the Limit!" and is now licensed to sell homes in Pennsylvania and New York. "I've found a home for a couple of professional athletes playing in the Philadelphia market," he said.
August 30, 2015 |
It was sheer coincidence that this Philadelphia put-down arrived on the very day that a headless hitchBot, the hitchhiking robot, was found in Old City. Can you imagine what WalletHub might have done with that little piece of business? Probably suggest that we should be plowed and salted, as the Romans did to Carthage. The personal-finance social network conducted an in-depth analysis of 2015's best and worst large cities in which to live. To do this, WalletHub compared the attractiveness of the largest U.S. cities in terms of livability, the quality of their health and education systems, economic growth, and tax rates.
August 24, 2015 |
Spring's real estate market was the Philadelphia area's best since the housing bubble burst in mid-2007, with significant increases in prices and sales volume in almost every county. Between April 1 and June 30, the region's median price for a single-family home rose to $217,000, from $212,000 in the same period last year, according to an analysis of second-quarter sales for Berkshire Hathaway Home Services by Kevin Gillen, chief economist for Meyers Research and senior research fellow at Drexel University's Lindy Institute for Urban Innovation.
August 1, 2015 |
After a lengthy drought, real estate lawyers are a hot commodity again. The biggest firms in Philadelphia and other cities with booming real estate markets say finding lawyers skilled in handling the zoning, tax, and transactional pieces of complex projects has become a near impossibility. There simply aren't enough lawyers to go around, and that has stretched existing practice groups and forced firms to move lawyers internally from other specialties. " Voracious is the word that I would use to describe what is going on," said Bart Mellits, chair of Ballard Spahr's real estate department, which has more than 100 lawyers.
July 26, 2015 |
One in a continuing series spotlighting real estate markets in the region's communities. There is more than a hint of change in Norristown's real estate market. It can be very subtle, like a sprinkle of cinnamon on a cappuccino at Jus' Java on Main Street. It can be loud, like the arrival of the 7:27 a.m. Manayunk-Norristown train, or construction on the Lafayette Street corridor that will, by 2020, finally link the community with the Pennsylvania Turnpike. Norristown, the borough urges, is "Where You Belong," and developers and real estate agents say it is committed to making that happen after decades of neglect and false starts.
May 2, 2015 |
There's nothing fancy about the ensemble of redbrick houses that line the 3600 block of Lancaster Avenue in Powelton Village. Built in the late 1870s, when the avenue linked country farms to city markets, the modest, wood-trimmed buildings housed working people who tended shops on the ground floor. Folks still live upstairs today, and neighborhood businesses - bike store, nail salon, day-care center - still pepper the storefronts below. Such blocks are what make Philadelphia, well, Philadelphia.