September 17, 2013 |
Second of two columns on this topic. The $25 billion Pennsylvania State Employees' Retirement System (SERS) has been buying real estate since 1984. It's been a drag on the fund for most of the last decade. The system, which pays for the pensions of retired state employees and must finance the retirements of today's state workers, still owns about $3 billion in real estate. It pays private investment firms roughly $1 for every $100 worth of property they manage for the state, and more when they actually make money.
September 16, 2013 |
It's a video about a dog named Milo and his thirtysomething, urban-dweller female owner. Or is it? Milo and his mom stop at Chic Petique for treats, then walk to a newish townhouse in the style of hundreds built in Center City's ring neighborhoods during the housing boom. We see interior views of the townhouse, along with shots of dog and owner as she makes dinner. As the video closes, we glimpse through a window the Piazza at Schmidts, so we know we're in Northern Liberties.
August 7, 2013 |
Mary Sage Doelle Ebmeyer, 81, of Bryn Mawr, a real estate saleswoman, died Sunday, Aug. 4, at Bryn Mawr Hospital of complications from a stroke. Mrs. Ebmeyer, a native of Grosse Pointe, Mich., moved with her husband, Walter C., to Pennsylvania in 1998 when he was named headmaster of Gladwyne Montessori School. He retired in 2003. She joined the office of Prudential Fox & Roach in Haverford and sold real estate through the mid-2000s. Recently, she was a sales associate for real estate developers, including Bentley Homes, Nolan Builders, and Vaughan & Sautter Builders.
August 2, 2013
J OE JESUELE, 31, OF OLD City, is founder and CEO of HomeJab.com, which puts video tours of residential real estate online. A Villanova grad with a work history in real estate, he started HomeJab in May. By summer's end, he plans to launch a redesigned website including all major U.S. real estate markets. Q: What's the idea behind HomeJab? A: We feel video is the best way to market property to homebuyers. They can sit at home and walk through properties with our videos without visiting them.
July 30, 2013 |
Jackson Grim Denton, 101, a real estate executive, died Saturday, July 20, of pneumonia at the Quadrangle, a retirement community in Haverford. For many years, he lived in Wynnewood. As a young man, Mr. Denton had suffered from poor health, said his son, Jackson Grim Denton Jr., and he learned to take care of himself. "He never smoked, he never drank, and he walked everywhere. A car was something you used when you couldn't walk there. He never ate sweets," his son said. He said his father was healthy until a month ago. Mr. Denton spent his entire business career with Provident Mutual Life Insurance Co., retiring in 1973 as associate manager of the mortgage and real estate department.
July 26, 2013 |
A real estate auction held Wednesday for the Archdiocese of Philadelphia and several of its parishes had mixed results. The sale run by Max Spann Real Estate & Auction Co. raised $995,000 for parishes in Philadelphia and Montgomery County, including $330,000 for the former St. Michael Business School near Second and Jefferson Streets in Kensington. Msgr. John J. Miller, parochial administrator for St. Michael Parish, said he was pleased with the price and said the parish, which was founded in 1831 by the first wave of Irish immigrants, would use the money for repairs on other buildings it owns.
July 22, 2013 |
As I go from town to town, neighborhood to neighborhood, the one complaint I hear from every real estate agent is that there are not enough houses for sale. Of course, they're talking about houses for sale that people want to buy. There are houses on the market that are overpriced or need lots of work. These are the ones that sit much longer than the typical 90 or so days that statistics show as the median on-market period for houses in the eight-county Philadelphia region. One factor tamping down the amount of sellable inventory can be attributed to the housing bubble.
June 29, 2013 |
This is one wildlife video that probably won't turn up on Animal Planet any time soon. Police in Lower Merion say a security camera captured footage of two Main Line real estate agents tossing dead mice and snakes onto the yard of their next-door neighbor's $1 million house on Booth Lane - part of an alleged plot to sabotage its sale because their house is also on the market. Jonathan and Andrea Straub, who sell multimillion-dollar homes for Prudential Fox & Roach, were also caught on video cutting branches off trees, knocking over "For Sale" signs, and otherwise vandalizing the property, according to police, who cited them for disorderly conduct and harassment.
June 16, 2013 |
I'm constantly bombarded by e-mail from out-of-town experts regarding this region's real estate market. A recent missive was from CoreLogic Case-Shiller, which had been two separate animals until the first acquired the second. According to the e-mail, average home prices in metropolitan Philadelphia fell 1.3 percent in fourth quarter 2012 from the same period in 2011. By the end of 2013, it said, home prices are expected to rise 2.7 percent. A third factoid: Home prices in this region fell 8.2 percent from fourth quarter 2009 to the same period of 2012.
June 13, 2013 |
Wilbur C. Henderson Jr., 89, a real estate developer and longtime Folcroft resident, died of natural causes Saturday, June 8, at Plush Mills Senior Living, Wallingford. He was president and CEO of the Henderson Group Inc., a commercial and industrial real estate developer in Delaware County with offices in Media and Melbourne, Fla. Mr. Henderson was the second generation to head the Henderson Group, which was founded by his father, Wilbur Henderson Sr., in 1923. The firm's first job was to fix a door, and a light fixture, at a home in Philadelphia, according to company lore.