Archive for February, 2013

2 Important Changes to FHA Loans

Philadelphia homes for sale Many First Time Home Buyers Use FHA.  Will These Changes Effect You? An FHA Loan is a mortgage insured by the Federal Housing Administration.  It was created to increase home ownership through more flexible guidelines related to credit scores, down payment & savings requirements.  An FHA loan always has a Mortgage Insurance Premium (M.I.P.) that is paid by the borrower. So, what's changing & when? In April the FHA is Raising M.I.P. Premiums This is for any FHA case # assigned on or after...Continue Reading!

Is the Market Rebounding?

Philadelphia homes for sale The Answer is YES! We work  mostly in Center City & the adjacent neighborhoods so our perceptions may be a bit skewed.  However, when we show the properties that have location, amenities & are priced properly we have noticed a couple things. Low Inventory My clients used to have the pick of the litter.  Homes sat on the market longer & there were more to choose from.  Inventory has dropped.  I have so many clients looking for a home & not enough homes...Continue Reading!

3 Things You Should NOT Do Before Buying a Home

Philadelphia homes for sale Thinking of Purchasing a Home? There are many things we are told to do, not too many people tell you what you should not do. 1. Don't Make Any Large Purchases Don't buy a car!  Or make large purchases of any kind; especially on credit.  This includes electronics, jewelry, vacations, that dream wedding & furniture.  This reduces the amount of money in your savings or negatively effects your debt to income ratio.  Or both.  This will lessen your purchasing power & raise red...Continue Reading!

What is a Tax Abatement?

Philadelphia homes for sale One Of Our Most Common Buyer Questions Answered! The tax abatement was created to help spur growth & development in Philadelphia.  The basic premise was to stimulate development through creating a demand for residential housing by offering a tax incentive to those purchasing. This Does Not Mean You Pay NO Taxes... The land or improvements have been assessed at some point in recent history.  Whether the assessment is $100 or $10,000 (depending on the parcel's size, location or existing improvements) that amount is...Continue Reading!

Most Charming Street In Philadelphia?

Philadelphia homes for sale Elfreth's Alley:  The Nation's Oldest Intact Residential Streetscape We feel so lucky to go to work everyday in one of the most historically rich sections of Philadelphia; Old City.  One of my favorite streets to wander down is Elfreth's Alley.  It has been continually inhabited since 1702.  Most of the early dwellers were artisans, blacksmiths & craftsman.  It is interesting to think that Old City is STILL known for it's art scene. Back in 1934, in the middle of the Great Depression,...Continue Reading!

2 Car Parking in South Philly???

Philadelphia homes for sale We Made it Happen at Cantrell Commons!             Cantrell Commons is the newest development we are representing.  This project is located in the Whitman neighborhood of South Philadelphia.  There are 9 homes being built & there are 3 models with differing levels of upgrades to choose from.  The plot plan could fit 11 homes, however, in an effort to make this the best project it can be the developers chose to create a shared driveway so each home would have 2 car...Continue Reading!

What Happened to 3rd Ward in Olde Kensington?

Philadelphia homes for sale 3rd Ward is a Brooklyn based Design Collaborative Coming to Philadelphia!  Learn + Work + Make At 3rd Ward they offer classes that range from learning your digital camera to millinery.  Through a monthly membership at different levels you are able to use their shared work space (a great option for free lancers who can't afford rent on their own office space but don't want to work from home), take classes, attend lectures or teach classes.  Feel free to peruse more...Continue Reading!