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Philadelphia Real Estate/Mortgage Market Reality

Where do I begin?<br /><br />The media hysteria along with the stock market <span class=”blsp-spelling-corrected” id=”SPELLING_ERROR_0″>volatility</span> has produced a scare mentality that is …<br /><br />Reality:<br /><br />1. The massive <span class=”blsp-spelling-corrected” id=”SPELLING_ERROR_1″>foreclosures</span> are NOT in <span class=”blsp-spelling-corrected” id=”SPELLING_ERROR_2″>Philadelphia</span>. They are in areas that were targeted by real estate agents and mortgage brokers for people to buy where they had bad credit and no cash. These area of California’s Central Valley and suburban Denver, for example have high foreclosure rates even when there is not a crises.<br /><br />2.The Philadelphia area is not in a recession. There are no massive layoffs. There is employment diversification.<br /><br />3. Prices have...

Philly Bucking the Trend in the Housing Market

<a href=”http://cbs3.com/bios/local_bio_051194008″>Robin Mackintosh</a>Reporting<br />(CBS 3) PHILADELPHIA<br /><br />The Philadelphia area appears to be bucking the national downward spiral trend in the housing market.<br /><br />The sound of Philadelphia’s real estate market seems to be on the move. From Rittenhouse Square to University City and to the riverfronts.Experts are saying Philadelphia is not following the national headlines that proclaim housing is going from bad to worse.<br /><br />”The best locations in any market still will hold their value while the peripheral locations will suffer the most,” Realtor Allan Domb said.Few know the Philadelphia condominium market better than Domb, who sells hundreds a year and from the newest at 22 Front,...

VA Mortgage limit rises!

Great news for Veterans. The mortgage limit on VA loans will be upcapped from the current $417,000 limit, the <a href=”http://www.ginniemae.gov/”>Government National Mortgage Association</a> announced.<br /><br />Now, qualified Veteran borrowers can get loans as high as they need them!<br /><br />VA does fixed and adjustable rate loans, 100% financing on purhcases and no cash out refis along with 90% cash out refis.<br /><br /><a href=”http://usloans.com/”>U S Loans Mortgage</a> is approved to do VA loans. Please call 877-562-5123 for details. Share this:TwitterFacebookGoogleTumblrLinkedInEmailPrintPocketRedditPinterestLike this:Like...

Can you imagine being foreclosed on and then paying federal taxes on a “gain”?

That’s right…that’s the way the IRS rules are today.<br /><br />But, the House has voted to change that and send the bill to the Senate for consideration.<br /><br />H.R. 3648, a bill to provide for mortgage cancellation relief passed the House by a vote of 386-27. To see how your member voted, please check out the roll call at:<br /><a href=”http://clerk.house.gov/evs/2007/roll948.xml”>http://clerk.house.gov/evs/2007/roll948.xml</a>.<br /><br />This legislation has stirred up some controversy over the “pay for”<br />provision, which is always a harsh reality of tax law changes. In order to “pay for” the mortgage cancellation relief, the House Ways and Means Committee modified, but did not eliminate, a tax planning opportunity for...

Fred Glick Video

Click on this link to see me explain on video financing investment property. This was filmed by Al Heavens, Chief Real Estate reporter for the Philadelphia Inquirer.<br /><br /><a title=”http://templecourse.blogspot.com/2007/09/some-advice-from-mortgage-pro.html” href=”http://templecourse.blogspot.com/2007/09/some-advice-from-mortgage-pro.html”>http://templecourse.blogspot.com/2007/09/some-advice-from-mortgage-pro.html</a> Share this:TwitterFacebookGoogleTumblrLinkedInEmailPrintPocketRedditPinterestLike this:Like...

Center City Philadelphia Building is Still Going Strong!!!

Center City building is still going strong<br />By Alan J. Heavens Inquirer Real Estate Writer<br /><br />Given the inventory of unsold properties – and the rise in the number of days it takes to sell each one, even as median prices continue to increase – you’d think residential construction in Center City would be slowing.<br /><br />Yet from Front Street to the Schuylkill, and well north and south of the traditional boundaries of the business district, high-rises are rising and low-rises are spreading across what had been abandoned lots.<br /><br />The housing market may be sluggish, but 30-year fixed-rate mortgage rates remain low and available to buyers with good...

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