February 9, 2015 |
Conshohocken-based How? Properties redevelops rental projects all over Philadelphia, with more than $100 million in real estate under development or management. By 2015's end, it expects to own and manage about 500 apartments. It also presents classes for tenants on how to build wealth by investing in real estate. How? Properties principals Andy Blum, Gary Jonas, Bill McLaughlin, and Gary Risler formed a mortgage company in 1998, then expanded into real estate in 2003. They went on to conceive their own construction and development projects and now manage the completed ventures.
February 4, 2015 |
The Super Bowl is history, marking the start of a new high-stakes season: the spring real estate market. After what many industry insiders considered a disappointing 2014, hopes are high for 2015. Among factors contributing to those hopes are continued low interest rates, new 3 percent down-payment programs from Fannie Mae and Freddie Mac, and an improving economy. Builders anticipate a boost in single-family home construction starts - critical to their long-term health - to 804,000 units nationwide, still well below the 1.5 million pre-downturn level.
January 31, 2015 |
Samuel J. Pilotti, 85, of Berwyn, a Realtor and civic leader in Philadelphia's western suburbs, died Saturday, Jan. 24, of cancer at Paoli Hospital. Born in Devon, he attended Conestoga High School, the University of Pennsylvania's Wharton School, and Pennsylvania State University. After 17 years as a business executive, Mr. Pilotti followed his true passion by turning his hobby - investing in real estate - into a profession. He founded Metric Realty in Paoli in 1975 and continued to work for 40 years in all phases of real estate with daughter Lisa Campbell and son David.
January 22, 2015 |
WHEN JOSEPH Sindoni bought a boat for seagoing outings from the Jersey Shore, he thought his wife would be thrilled. But when she saw it, Margaret's reaction was less than enthusiastic. "Where's the bathroom?" she wanted to know. So, Joseph, always the devoted husband, went out and bought a bigger boat - a 24-footer with a bathroom. The family kept the boat for about eight years at North Wildwood, but, even though he was a former Navy man, the family didn't get that much use out of the boat and he finally sold it. Part of the problem was that Joseph Sindoni was the kind of guy whose favorite activity was work.
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 |
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.
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.
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.