July 26, 2011
New Philadelphia Senior Housing Coming to Italian Market Area. NakedPhilly.com has an article discussing how councilman Frank DiCiccio has proposed the building of a 64 unit apartment that will provide affordable senior housing on a city owned lot at 921-927 Ellsworth Street. The entire parcel is 22,000 square feet and will include 25 parking spots. The builder is BCM […]
July 25, 2011
University of Pennsylvania Real Estate Development Progressing Nicely. In Philadelphia development news, Penn Park, the new urban park east of the Highline and stretching from Walnut Street to South Street features featuring a fabric of tightly interwoven recreation and athletic components is coming along nicely. This is great news for a number of reasons. First, Penn and Drexel’s long term […]
July 25, 2011
Kevin Gillen Philadelphia Real Estate Q2 2011 Commentary Philadelphia’s House Prices Hit the Brakes This Spring. House prices effectively unchanged in 2011 Q2. July 25, 2011: It may not be often that flat house prices may be greeted as good news, but after several years of declining prices and falling sales, the definition of “good news” for housing has […]
July 24, 2011
President Obama Considers Renting Philadelphia Foreclosures Wouldn’t this be a strange twist for the Philadelphia Apartment market. According to the Wall Street Journal the Obama administration is examining ways in which foreclosed properties could be rented. The hope is that renting these homes and taking them off the market will reduce high inventory levels thereby helping to stabilize the housing market. This […]
July 23, 2011
Philadelphia Multifamily Real Estate Selling. I’ve been saying for months that the Philadelphia real estate investors are out in droves based on nothing but purely my own anecdotal research and now it seems the data shows an increased demand for multifamily housing nationally. Makes sense given the economic and employment uncertainty. Why not purchase a multifamily property and have additional […]
July 22, 2011
Philadelphia Real Estate Development at Intersection of Broad St. and Washington Ave. I’ve been hearing a lot of chatter lately and have been asked by several clients what is going on with the lots on the corner of Broad and Washington. Obviously their size and location make them unique development opportunities. The following comes from a reliable real estate tipster who […]
July 21, 2011
Philadelphia Real Estate One Liners – July 21, 2011 Toll Brothers, nearing completion of Naval Square in Graduate Hospital, is proposing a development project at 2400 South Street where they intend to knock down the existing buildings and build 122 townhomes and condos with ample parking. (www.NakedPhilly.com) Philadelphia ranked 5th on the 2011 Walkscore.com poll of the most walkable cities […]
July 21, 2011
Pennsylvania Real Estate Closing Costs 9th Most Expensive in U.S. According to a Bankrate.com survey Pennsylvania Real Estate Closing Costs are the 9th most expensive in entire U.S with an average cost of $4,522. Researchers requested a good faith estimate for a $200,000 loan, assuming a 20 percent down payment and good credit. This chart does not include taxes, other government […]
July 20, 2011
Philadelphia Real Estate Listings 6th Most Searched In U.S. According to a Realtor.com study Philadelphia was the sixth most-searched real estate market in the United States in June. A list of the top ten most searched real estate markets in the United States is below. The report also evaluated home prices. In terms of Philadelphia listings, the median listing price […]