Pages Menu
TwitterRssFacebook

Most recent articles

Philadelphia is Affordable!

Owning in Phila. more affordableCensus: But for renters, it’s costly.<br />By Thomas Ginsberg, Rita Giordano, Dylan Purcell and Alletta Emeno<br />Inquirer Staff Writers<br /><br />More photos<br />Data charts <br />New census data confirm what Philadelphia homeowners long have believed about their rank among big cities: Owning is more affordable here.<br /><br />But among the 10 biggest cities, Philadelphia is also one of the costliest for renters relative to their income. A rising proportion spend a big chunk of their pay on rent, according to the data.<br /><br />The trends are detailed in a new Census Bureau survey for 2005 being made public today. It measures, among other things, the...

Developers keeping Old City a hot spot!

by:Al Heavens<br />Inquirer Columnist<br /><br />What’s all this I hear about a real estate slowdown? It doesn’t seem to be affecting Old City, at least as far as the developers are concerned.<br /><br />Walk up and down the streets of Philadelphia’s oldest neighborhood and you’ll see a lot for sale, and a lot of construction and rehabbing going on.<br /><br />And just about every day the last couple of weeks, my phone has rung or e-mail has arrived with some public-relations person announcing that so-and-so is planning to build such-and-such on Arch, Front, Second, Third, Fourth, Market, Chestnut, south or north or east or west.<br /><br />Then I tell...

The New Market

After 2 of my buyers losing 4 houses in the last couple of weeks, I have concluded that the Buyer’s market is coming to an end.<br /><br />The overpriced homes have come down in price and the good house priced reasonably in good condition are matching up to qualified buyers. <br /><br />It seems that are still a lot of good buyers out there that have decided that waiting does not make sense when they see what they want. Sellers are taking the advice of their REALTORS(R)and have made repairs and cleaned up properties to make them attractive.<br /><br />Rates are only .75% above the lows of a couple...

Pricing a house when supply exceeds demand

By Alan J. Heavens<br />Inquirer Real Estate Writer<br /><br />What does “properly priced for the market” mean when the supply of houses exceeds the demand?<br /><br />Real estate agents and appraisers are scratching their heads just as hard now as they did during the recent seller’s market.<br /><br />It’s not as if buyers want free houses. They are willing to pay what they consider the “right price,” as seen in the fact that this region’s median price for existing houses rose 7.9 percent in the first nine months of 2006, despite a 9 percent decline in sales compared to a year ago.<br />In general, the asking price for a...

Remodelers See Green in Slumping Home Sales

PHILADELPHIA — A growing number of homeowners who considered selling are deciding to stay put — at least until the number of unsold houses drops enough to make it a seller’s market again.<br /><br />This isn’t good news for listing agents, but remodeling contractors, architects and suppliers are gearing up to handle what they assume will be an increase in people looking to make improvements that will add value when the time to sell does come.<br /><br />”Sellers who must move because of job transfers or other reasons have no choice but to deal as best they can in market conditions that present them real challenges, but remodeling can...

PMI Now Tax Deductible!

Now mortgage insurance is making more sense than ever! Brand new legislation now allows homeowners with up to $100,000 combined income (married couple) to deduct mortgage insurance premiums from taxable income. The law is effective for the 2007 tax year. MI tax deductibility is one more reason to offer traditional loan options, such as fixed-rate loans protected by MI, instead of the expensive and unpredictable piggyback. Not only is MI tax deductible, it can also be cancelled AND there’s no unexpected payment increase as with piggyback ARMs. Share this:TwitterFacebookGoogleTumblrLinkedInEmailPrintPocketRedditPinterestLike this:Like...

%d bloggers like this: