Five End of the Year Tax Breaks Worth Considering

As the New Year is fast approaching, most people are rushing around trying to meet deadlines for work before leaving for the holidays or to wrap those last few presents. But if you are a homeowner, you should add to your holiday to do list. There are a few things you should consider to get done by the end of the year other than the baking of the cookies or figuring out where to party for New Year’s Eve.

Prepay mortgage interest. If you have the cash handy, you should try and pay your January mortgage payment before the end of December. The interest portion of that payment will actually be accrued to your mortgage in 2012, so if you pay your January 2013 mortgage payment in December 2012 you will increase the mortgage interest deduction you’ll be able to take as soon as you file you 2012 taxes.

Close on your refi. If you are a home buyer, it is almost too late to start and close an escrow this year. If you’re a homeowner in the process or considering refinancing your home, there might still be time to hurry and close the deal. Discount points or other prepaid mortgage interest you shell out to close a refinance home loan may be considered fully tax deductible on your 2012 tax return. to read more…

The 2012 Review of Zoning in Philadelphia

This blog post is a review of the most popular stories of the zoning, policy and development of 2012 in Philadelphia real estate. Since the new zoning code took effect in august after a four year reform effort, it didn’t prohibit the City Council from changing its rules, which what policy actually could. As the zoning reform was coming to a close last year around this time the City Council asked for a clause to be added to the code for various city agencies to issue a report on the one year anniversary of the enactment. This would let the city assess how its various provisions are working. With the Council making changes to the zoning code, we will never know if some of the new codes provisions would have worked. To read more…

Get a Home Inspection When Buying a Home

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Get a Home Inspection When Buying a Home

Hire a professional home inspector before you buy a home. The time to discover expensive defects is before you buy the home. Even brand new homes often have major construction flaws. The $350-$500 is worth the money, especially if they find a $1,000+ defect.

Typically, a home inspector is contacted immediately after the contract or purchase agreement has been signed. Before you sign, be sure there is an inspection clause in the sales contract, making your final purchase obligation contingent on the findings of a professional home inspection. This clause should specify the terms and conditions to which both the buyer and seller are obligated.

The home inspection report will cover the condition of the home’s heating system; central air conditioning system; interior plumbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement and structural components. Included with your home inspection report are usually digital pictures, a cost range guide, and general report summary of major defects.

Central Bucks School District Attempts Appeals Again

For three years, Central Bucks School District has not been able to collect the tax revenue because of the property assessments being too low. Throughout the county in 2009, thousands of assessment appeals were filed by property owners who were successful in their appeals. 46 percent of the 5,200 filed, were granted a total of $4 million in tax relief, which the schools no longer receive.

The school district has spent $20,000 the past years trying to reclaim some of that revenue; the effort was a complete failure. In 2011, the appeals didn’t even make it to the board because of a technical problem. Trying again, this year the school district is hoping to get an additional $772,000 in taxes by challenging the assessments of 37 homes and eight commercial properties.

At Thursday night’s assessment appeal hearings, it’s not looking good for Central Bucks School Distrcit. Attorneys, real estate agents, appraisers and residents all spoke at the hearings, pointing out all the problems with the appeals. Representing 25 of the 37 property owners, an attorney said the school district had failed to meet its burden of proof in every single appraisal he looked at. Is Central Bucks looking at failure again?

To read more…

Four Questions to ask before Buying a Home

I’m sure you have heard that it’s a good time to buy a home right now. Interest rates are at historic lows and the prices of homes in many areas of the U.S. are low and some major metropolitan areas are seeing an increase. Although buyers are eager to buy, don’t make the mistake of buying now just because everyone else is. Before even considering looking, ask yourself these questions.

Am I prepared for the responsibilities and risks of homeownership? Can I afford to buy a home with amenities I need in a location where I want to live? Am I willing to compromise? Am I willing to take the time and make the effort to carry out due diligence investigations in order to ensure that you make a wise purchase decision?

To read more…

Warrington Residents to Vote on Open Space Spending

Does it seem that every time you drive down a street you see a new development of houses being built? This is why Warrington, Located in Bucks County, PA, is looking to borrow up to $3 million to preserve open space, improve township parks and link community trails. Township officials think that with the current real estate prices and interest rates at historic lows, it’s the right time for residents to support an open-space referendum.

Voters will see the question in the Nov. 6^th ballot, asking if they want to spend not only to buy and protect open space but also to improve the parking at Barness Park and “facelifts” for lesser known parks. Also, with the township growing, athletic fields for a wide variety of sports are in demand. This bond money could help pay for more space. In 1995, Warrington borrowed $2.1 million for open space preservation and has about 700 acres already protected from development. To read more…

Electrical Wiring When Renovating Your House

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Have you ever asked we when estimating your rehab costs on a home: How much does it cost to rewire an entire house? What is knob and tube wiring? How do I properly wire (new electrical) my house up to code?
Watch this video for electrical wiring tips and installation

DIY : Make your own Cabinet Drawers

I know everyone is trying to save money one way or another. There are many projects we can do ourselves, but then there are other projects that we won’t even think twice about doing.

For example, you have a rental property and one cabinet drawer is broken. Buying cabinet drawers can be expensive and hiring someone to install them can be costly and unreliable. So do it yourself projects may be your only option. This project could cost as low as $100-$250, take up half a day and the difficulty level is easy to moderate so anyone can do it.

To see step by step directions…

Plan on Moving?

If you’re planning on moving locally from where you are now, you probably have a good idea of what town or even the street you would want to live on. Knowing your local neighborhoods, schools, shopping and others can really help in your search, but we still encourage doing as much research as possible. There are many websites that can give you plenty of information to make sure your move is a success. These resources can help people moving to the next town over but can be the most help to people moving to unfamiliar areas. If you are getting relocated for a job or even just a new start in a new state or city, these websites will definitely come in handy. The websites consist of NabeWise, Nextdoor, WalkScore, Street Advisor, Trulia Local, and National Clandestine Laboratory Locator.

To read more….

Should we be questioning the Actions of the Philadelphia Redevelopment Authority?

The Philadelphia Redevelopment Authority has a plan to condemn and seize forty-three properties via eminent domain in the Point Breeze neighborhood. With a budget of 1.7M, the PRA finalized its list in their July meeting. Twelve out of the forty-three are already owned by city agencies, leaving the other thirty-one owned privately by individuals and developers. With several of these purchased within the last few months, the PRA have no concrete plans for the next steps. According to a quote from Councilman Kenyatta Johnson, 40% of the properties will be new construction for affordable housing and the other 60% will be for market- rate housing. The belief is that all of these lots are tabbed for affordable housing development which is a huge problem. Does it really make sense for the Philadelphia Redevelop Authority to seize privately owned lots only to resell them back to private developers? To read more…

Recycling Your Old Kitchen

Recently, have you looked around your kitchen and said, “It needs some updating”? Like you, many homeowners are saying the same thing and with the recent economy everyone is looking for ways to save a little cash. The most budget friendly way to update your kitchen is to use your old kitchen in the new one. Some items to consider would be; nice old cabinet doors, an old pastry slab, a piece of a butcher block, lighting, windows, doors, flooring (if its wood and can be refinished) and cabinet hardware.

Also, if your own kitchen isn’t offering intriguing possibilities for recycling materials, hit the salvage circuit. You can find cool items to incorporate without spending big bucks. An example would be to browse your local stone supplier’s collection of remnants, which are often discounted and can be used as island toppers, butcher blocks or pastry slab.

Read more about this DIY project…

Old Building near Wayne Junction in Philadelphia is Getting a Makeover

The former Max Levy Autograph Co. Building, located near the Wayne Junction Septa Station in Philadelphia, has a new owner. Developer Ken Weinstein, bought the now empty shell located on Roberts Avenue that has been sitting for more than ten years for $150,000 in June. Weinstein expects to put about $1.5 million just gutting the series of rooms. Workers have removed asbestos and other hazardous materials, but there is still machinery that is so heavy, they are not sure how they are going to remove it. With all the challenges Weinstein has been facing, he is forming a vision that this building will someday be a collection of offices, lofts and other uses.

To read more of this story…

11 New Philadelphia Homes can Hopefully Start to Stabilize Point Breeze

For many first time home buyers, it can be hard to get financing especially when it’s in a neighborhood hit hard by foreclosures. Thanks to a federal program, many Philadelphia, PA homebuyers were able to buy the new construction townhomes in the Point Breeze area of South Philadelphia, PA. The combined effort between the affordable-housing developer Community Ventures and the South Philadelphia H.O.M.E.S community organization has made this all possible. This is a transition in Philadelphia and its moving west to continue this movement. To read more…

Greener in University City Philadelphia

Shoemaker Green, An $8.5 million makeover on 33^rd Street between Spruce and Walnut was donated by the University of Pennsylvania. On the afternoon of September 20^th, 2012, Penn students, faculty and staff attended a picnic themed event on the 2.75- acre space. Shoemaker green has pavers and a rain garden to capture rainwater run off which they will recycle in a cistern system to irrigate the lawns, all apart of Penn’s plan to create a more sustainable campus. To learn more…

New development on Vacant Land in Graduate Hospital Area of Philadelphia

New homes are popping up all over Philadelphia, PA. With all the vacant lots available, builders are taking advantage of it. With two foundations poured and framing has begun on Carpenter Street, the construction on the third empty lot should be started soon. Familiar to the rest of the block, soon you will see three duplexes with roof decks according to the building permits. To view the whole story…

Is Philadelphia Seeing Green?

Yes football season is upon us and the Philadelphia Eagles start thier season this Sunday. But this is a different green for Philadelphians. They will soon be able to see green instead of concrete. The parking lot in front of the Hospital of the University of Pennsylvania, will become a beautiful park in the near future. The $2.5M Spruce Street Plaza between 33^rd and 34^th streets along Spruce St will feature benches, lighting, seasonal landscaping, decorative paving, and a lawn area. The project is planned to be completed this winter. To read more about this story and see pictures of the plans, click the link.

Fall into a Home Project

Labor Day has passed, football is starting, and now fall is approaching, it’s time to find some projects to do when you’re stuck inside during the cooler months. An easy way to brighten up or add some character to your Philadelphia home is with paint. The different way to do this is to use decorative painting techniques. From translucent color washing to adding stripes to your wall, these techniques will update your home from dull to fabulous. To check out all the techniques and how to videos, click the link.

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New Zoning Codes take effect August 22, 2012 for Philadelphia.

Thinking about building an addition or deck on to your Philadelphia house?? It’s better to hold off until the new zoning codes take effect in Philadelphia, PA. Even though with all this happening automatically, for various city of Philadelphia agencies enacting the law, including developers and lawyers who use it daily, it may take them longer to adapt. The department of Licenses and Inspections plays the central role: receives zoning applications, processes permits, examine plans and issue violations.

While the rules switch tomorrow, the day to day procedures of L&I will basically remain the same. With the department’s team of examiners attending Zone Code Training Sessions that concluded in June , they’ve been holding practice runs implementing the new code ever since. In addition, L&I hired new examiners that will only be learning the new code, giving them a head start. For more information on this article…

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Generation Rent

Do today’s 20-to-34-year-olds have commitment phobia? In 2011, the smallest percent of first-time home buyers purchased property since 2006, according to the National Association of Realtors. Rental property vacancy rates are the lowest since 2002 and rents are increasing. To read more about this Bloomber article…

The top 10 threats facing real estate

This article identifies the top 10 issues facing all real estate in the next three decades. Below are the top 10 issues affecting the real-estate market in the next 10 to 30 years.

1. An aging population
2. Student debt burdens
3. Public funding
4. Changing demand for office space
5. Changing demand for retail space
6. Liquidity in the real-estate capital markets
7. Global change and uncertainty
8. More sustainability
9. Overvalued commercial properties
10. Political gridlock.

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Lower Northeast Philadelphia, PA District Plan

The draft of the Lower Northeast Philadelphia, PA District Plan will be presented ion August. This district covers Frankford, Northwood, Oxford Circle, Summerdale and Lawncrest, will be part of the new city-wide comprehensive plan, Philadelphia2035. The focus is on three areas and they area all commercial areas and develop around them. To learn more…

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Holy Family U. Plans to Buy Liddonfield Public Housing in Northeast Philadelphia

Holy Family U. Plans to Buy Liddonfield Public Housing, 32-acre site, in Northeast Philadelphia to develop athletic fields and university buildings, as well as shops and assisted-living senior housing. This project would allow the Holy Family University to grow and would connect it more to the surrounding Northeast Philaldelphia neighborhood.

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New Development in and around Philadelphia

With high demand for both market-rate and student housing Brandywine’s has upcoming Philadelphia projects. According to their market research, Center City caters to students, service workers, and recent graduates who are sales, tech, and creative professionals, along with empty-nesters moving into the city from the suburbs.

They are also planning to build in Plymouth Meeting, PA 400 “garden apartments”. To read more…
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Happy 60th Birthday Levittown, PA

Levittown Bucks County PA is 60 years old. Building took place from 1951 to 1957 and the end of World War II was the start of the Philadelphia suburb — Levittown. This was built for the middle class to achieve the american dream of home ownership. By 1958, the 17,311 single-family homes had spread out over Bristol Township, Falls, Middletown and Tullytown, and housed 70,000 people.

To learn more about Mr. Levitt and Levittown visit Philly Burbs.

To sell a house in Levittown, PA contact CMT Real Estate.

Summertime Energy-Saving Tips

Summer started this week and in Philadelphia, PA it was hot and humid in the 90′s. Today I will share with you some summertime energy-saving tips that will reduce your electric energy bills.

Be a speedy chef — Nothing is more energy efficient for cooking than your microwave. It uses two-thirds less energy than your stove.
Push a button to wash your dishes — Your dishwasher uses less water than washing dishes by hand. Then let dishes air-dry to save even more!
Fill up the fridge — Having lots of food in your fridge keeps it from warming up too fast when the door is open. So your fridge doesn’t have to work as hard to stay cool.
Turn up your thermostat — you save: 1 – 3 percent per degree, for each degree the thermostat is set above 72 degrees
Use your appliances wisely

• Do your laundry efficiently by using the warm or cold water setting for washing your clothes. Always use cold water to rinse clothes.
• Line dry clothes whenever you can.
• Conserve energy by running your dishwasher only when it is fully loaded, and turn off the dry cycle and air dry dishes instead.
• Turn off appliances, lights and equipment when not in use.

Replace air conditioner filters
Plug your home’s leaks — Weather-strip, seal, and caulk leaky doors and windows
Choose ENERGY STAR® products

Philadelphia Parks and Recreation Department – Four New Parks in Two Months

The Philadelphia Parks and Recreation Department will have four new parks in just under two months.

Sister Cities Park — represents a major overhaul of an extant park in Center City Philadelphia District
Lardner’s Point Park – park is tucked under the Tacony-Palmyra bridge
Grays Ferry Crescent — on the Schuylkill Banks near 34th and Wharton streets
Hawthorne Park — In South Philly at 12th and Catharine streets


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UPENN is Crossing the Schuylkill River

UPenn is continuing it real estate development in West Philadelphia with new buildings, more green space, and better linkages to Center City. The University of Pennsylvania is unveiling development proposals for 23 acres it purchased from the DuPont Co. while continuing to grow the main campus in West Philadelphia. To read more visit Philly.com.

69-unit, Gated Condo Building in Society Hill area of Philadelphia?

Toll Brothers hopes to build a 69-unit, 68-foot-tall, gated condominium with 108 underground parking spaces at 410 S. Front St. in Society Hill (Philadelphia). The building would be made of brick, stone, concrete glass and metal. The colors, and most of these materials, are similar to those used around Society Hill, a historic area. The only issue is that civic support is needed to help convince the Zoning Board of Adjustment to grant variances for height and the number of stories. To watch the video or read more.


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Campbell Buys Old Sears Building for Camden, NJ Plans

Looks like Campbell Soup Company is staying in Camden, New Jersey. Campbell Soup Company recently purchased the old Sears Building and plans to turn the 13 acres into a project called the Gateway Office Park that would include constructing a new headquarters for the company. To read more about this visit Philly Business Journal.

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Looking for an Investment Property in Philadelphia?

Is Torresdale Avenue Getting a Face Lift?

Tacony Community Develoment Corporation is working to spruce up Torresdale Avenue in Philadelphia, PA with a new Façade Improvement Grant Program that will help property owners freshen up their look. The facade improvement grants will cover up to 85% of eligible costs.

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Plan for Townhomes on Front St gets Approval

A plan to build 32 townhouses on a now-vacant lot at 412 N. Front St. in Old City Philadelphia, PA received city planning commission approval May 29. The Townhomes will be 3 bedroom and 2.5 baths. To learn more visit this article.

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City Ave Could be Philly’s Next Hot Spot for Development

While new City Ave development is likely years away, effective April 30th, Lower Merion, PA has come through on some zoning changes which will now allow this area to flourish with new and practical development for the foreseeable future.

This article states that the ordinance creates two new zoning districts that will affect the density and height of future development along the corridor, which should encourage new, mixed-use development .

For some more background you can visit a prior post about the City Ave Area section of Philadelphia.

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What Will the Future Be for “Low­er Schuylkill” in Philadelphia

The “Low­er Schuylkill” is the last un­planned tract of real estate land in the city of Philadelphia, PA.

The City Planning Commission, Commerce Department, and Phila­del­phia Industrial Development Corp. are fi­nal­iz­ing a Low­er Schuylkill mas­ter plan to trans­form the 4,100 acres into an­oth­er Route 202 cor­ri­dor, a hub for businesses, tech­nol­o­gy start-ups, in­dus­try, and re­search spun out of near­by universities and med­i­cal schools. To read more…

Philadelphia’s Vacant Properties to be Posted Online

In June, the city of Philadelphia wills soon be providing information online the 9,000 vacant properties it owns. The Philadelphia Redevelopment Authority (PRA) will act as the first contact for real estate buyers and you’ll be able to scan a map of Philadelphia showing Philadelphia properties for sale and find out critical information on the property.

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Barnes Art Museum Finally Opens at New Location in Philadelphia

It has been a back and forth battle to move the Barnes Art Museum from Lower Merion, PA to Philadelphia, PA but today it finally re-opened at its new location on the museum-studded Benjamin Franklin Parkway. To read more about today opening…

To learn more about the controversary about the move check this documentary out.

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Apartment Building Proposed North of Ben Franklin Bridge

An 11-story apartment building, just north of the Ben Franklin Bridge in Old City Philadelphia, PA is proposed for the Delaware Waterfront. However there are many concerns still…

8200 Germantown Ave. Project Design Slightly Modified

A mixed-use project at 8200 Germantown Ave. (Chestnut Hill in Philadelphia) recently has some updates and changes to the design of the mixed-use portion of the overall plan, which includes a 20,000 square-foot The Fresh Market grocery store topped by four stories of condominiums, with a maximum overall height of 60 feet from street level. The fifth-floor residences which once had balconies that would overlook Germantown Avenue now have enclosed spaces. The row of townhouses that would be built at the rear of the site still need to be finalized. To read more…

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Continued Growth on South Street West (Philadelphia)

There has been steady new construction and rehabilitation all along the once-derelict blocks of western South Street from Broad to the Schuylkill River. New restaurants, new shops, new offices, re-opening of South St bridge, and two real estate development projects by Toll Brothers (The nearly completed Naval Square, and the soon to be constructed 2400 South).
Read on to learn more about the development along this stretch.

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W Hotel Coming to Philadelphia

One of my favorite hotel chains is coming to Philadelphia. It is scheduled to break ground next year and it will be located in Center City Philadelphia at 1441 Chestnut St, just behind the Ritz-Carlton Hotel and its condo tower.

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Would you bet on placing a casino in the center of Philadelphia?

Would you bet on placing a casino in the center of Philadelphia?

A real-estate developer announced that he’s ready to begin converting the former office building at Broad and Spring Garden streets into Tower Place, a luxury-apartment-and-retail complex. This development will be done in two phases. Phase 1 is luxory apartment. Phase 2 is more retail.

The real estate developer as announced a plan to build a $500 million casino and entertainment complex stretching on Callowhill Street from North Broad to 17th Street. To Read more…



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Philadelphia Makes the list: The World’s 10 Best Cities for Parks

Fairmount Park is the municipal park system of Philadelphia, PA and it is consists of 63 individual parks, stretching predominantly along the Schuylkill River over 9,200 acres (or about 10% of Philadelphia). The parks are home to more than 200 historic buildings, America’s oldest zoo, six golf courses, cycling trails, performance venues, and an array of landscaped gardens and wooded areas.
Read more: http://www.frommers.com/slideshow/index.cfm?group=335&p=12#ixzz1rmQYNrQV

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Bucks County Planning Commission saw an Increase Building Projects

The Bucks County Planning Commission saw an increase in both the number and scope of commercial, industrial and residential projects in 1q 20212 when compared to 1q 2011. Though the last few years have building applications at historic lows. For the entire article visit PhillyBurbs.

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Philadelphia’s Reading Viaduct Project – Images of the Sky Park

The Center City District said they would commission for a design study of the Reading Viaduct Project in what is to be called Phase 1 and the CCD delivered. The park designs include new trees and plantings, an outdoor classroom, seating, swings and more. All they have to do is find the funding to make this project a reality. You can view the full design presentation as a PDF on the Center City District’s website.

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Seven Reasons for A Recovery in the U.S. Housing Market

Seven Reasons for A Recovery in the U.S. Housing Market.
To view the charts and read the full article.

1. Housing affordability is at a multi-decade high.
2. Reflecting normal U.S. demographic trends (household formations of 1 million-plus per year) and a low level of 2008-2012 new-home production, there is plenty of pent-up demand ready to be unleashed
3. As rental prices have risen and as home prices have fallen, the economics of home ownership has improved
4. We have seen a decisive improvement in the jobs market
5. Mortgage rates are at historic lows.
6. Housing surveys have turned positive
7. Confidence is improving

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Philadelphia Land Bank For Vacant Lots and Homes — Will It Work?

Legislation currently under consideration in Harrisburg (HB 1682) intends to help Philadelphia and other municipalities organize an effective asset management strategy for vacant property. The article discusses questions and concerns about the government agency handling this.


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Apartment Association of Greater Philadelphia 2012 Trade show

2012 AAGP Trade Show & Education Conference is March 28, 2012 at Lincoln Financial Field in Philadelphia, PA.

To register online visit here

For Trade Show Education

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April 4 & May 2 - CMT & Eric Pittmann Present: Real Estate Investing and Residual Income!

CMT Real Estate & Eric Pittman Present:

Real Estate Investing and Residual Income Networking Series

Come Out to Support Philly’s Habitat for Humanity!

April 4th & May 2nd, 6pm-9pm @ Mad River in Olde City Philadelphia.

http://goo.gl/dm6oX

Is this the Answer for the Divine Lorraine Hotel in Philadephia?

According to the Philadelphia Daily News, a developer is feverishly working with a local artist to turn the land behind the Divine Lorranine hotel – and the Divine herself – into a centerpiece that would reimagine both art and public education in the area just north of Center City. To read the whole story…
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Philadelphia’s City Planning Commission OKs a Master Plan on Riverfront

The master plan,six-mile stretch of the central Delaware River in Philadelphia, calls for more low-rise buildings, a waterfront trail, better public access to the river, parks every half-mile, and extension of the city’s street grid to the water’s edge. The commission will use it to guide future decisions on waterfront land use. It also will be used as a reference in a remapping of the zoning for the waterfront. As part of the plan, the city would need to invest $770 million over 25 years to upgrade the infrastructure and public spaces along the central Delaware. To Read more…

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Cleaning Up West Passyunk and Snyder

A $60,000 Philadelphia Department of Commerce grant is allowing the Snyder Avenue Corridor Cleaning program, a 12-month plan to beautify 18th through 25th streets, to continue to improve Snyder Avenue for Philadelphia business and residents.

The other clean up mission, called the Passyunk Avenue Corridor Improvement Project, is a $6.4-million project, with 80 percent of funds deriving from the American Recovery and Reinvestment Act of 2009. It debuted January 30th and will involve improving Passyunk Avenue from Broad to 63rd streets, a territory that includes a Southwest and South Philly. The eight-factor initiative will run through December. Fourteen intersections are scheduled to receive signal improvements, new traffic mast arms and poles, light-emitting diode traffic signals and signal controllers allowing for enriched signal phasing, according to the plan. To read the article article…

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Need New Ideas for Landscaping Your Yard this Spring?

Need New Ideas for Landscaping Your Yard this Spring?
Well come to the Philadelphia Convention Center this Marc
h. The Philadelphia Flower Show begins its week-long exhibit Saturday, March 4th featuring thousands of exotic plants, rare flowers, and other stunning installations. This year’s theme, “Islands of Aloha” will transform the floor-space of the Philadelphia Convention Center into acres of lush Hawaiian gardens.

There are FREE lectures and demonstrations.

For ticket information …

Reimaging I-95 in Philadelphia, PA

Pennsylvania Department of Transportation (PENDOT) has 51 miles of I-95 scheduled for construction. The question is should Philadelphia reimage the three-mile stretch of Interstate-95, which divides Philadelphia center city from the Delaware River waterfront, in the near future. The hear what others had to say visit this article.

Top 3 Ways to Turn off a Home Buyer and a Home Seller

If you are a home sellers, below are 3 things to avoid:

1. Hanging out when buyers are viewing your home
2. Showing a messy house
3. Overpricing your home

If you are a home buyer, below are 3 things to avoid:

1. Unjustified, extreme lowball offers
2. Buyer-side mortgage fails
3. Bashing the seller’s home

To read more visit this article.

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Divine Lorraine: Is this Eye-Sore Going to Be Bought?

As mentioned in earlier posts, change is coming fast to the blocks around Broad Street and Ridge Avenue in Philadelphia, PA. Some Real Estate Developments are:

• North Broad St will be updated with new lights and landscape
• The conversion of a state office building into 204 apartments
• Pennsylvania Ballet project
• Mixed-Use and Retail

And then there’s the Divine Lorraine Hotel, the 10-story, graffiti-covered building that has been an empty eyesore since 1999. A Philadelphia Developer has an option to buy the building but this is the fourth time in recent years that someone has wanted to take over the building. Well keep you updated on this story.

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Mortgage Rates Establishing Several New Historic Lows

Attention Philadelphia Home Buyers….Mortgage rates broke another set of records during the week ended February 3, establishing several new historic lows. Some highlights from this mortgage rate article are:

• Rates for 30-year FRM with conforming loan balances of $417,500 or less decreased to 4.05 percent from 4.09 percent, with points increasing to 0.44 from 0.41 including the origination fee.
• Jumbo 30-year FRM, those with loan balances greater than $417,500, had averages rates of 4.29 percent with .43 point compared to 4.33 percent with 0.41 point.
• The rate for 30-year fixed-rate mortgages backed by the FHA decreased to 3.89 percent from 3.96 percent, with points increasing to 0.78 from 0.61.
• Fifteen-year FRM had an average rate of 3.33 percent, down 3 basis points from the previous week and points decreased to 0.37 from 0.41.
• The rate for 5/1 adjustable-rate mortgages (ARM) decreased to 2.91 percent from 2.94 percent, with points increasing to 0.40 from 0.39. The ARM share of mortgage applications was up to 6.0 percent from 5.6 percent the previous week.

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Projected That Bucks County, PA will grow 16% by 2040

Growth forecast by the DVRPC. To read more at PhillyBurbs...

·      Projected That Bucks County, PA will grow 16% by 2040

o  Warrington is expected to have the largest growth

o  Lower Southampton will see the lowest population growth

o  Bucks County PA had a growth spurt of 10.4 percent between 1990 and 2000

o  Bucks County PA grew 4.6 percent between 2000 and 2010

o  Bucks County PA most rapid growth came in the 1950s and 1960s

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Homeowners: 7 Must Know Tax Advantages

Here are seven tax benefits for homeowners.

1. Homebuyer Tax Credit
2. Deductions for loan fees
3. Property tax deductions
4. The mortgage interest deduction
5. Home office expenses
6. The costs of selling your home
7. The gain on your home

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Where Do 2012 Presidential Candidates Stand on Housing Issues?

Where does your favorite candidate stand on housing issues? This Zillow post breaks it down. The graph, from Zillow:

Almost Final Redevelopment Plan for Willow Grove Naval Air Station

The final draft for the Redevelopment Plan for Willow Grove Naval Air Station is expected to be voted on March 21 and sent to the federal government for ultimate approval by March 31. Below are some highlights.

• 1,416 residential units on 176 acres
• Hatboro-Horsham School District’s will have 60 acres
• Delaware Valley Historical Aviation Association will have 14 acres
• Land for Bucks County Housing group

PennDOT and the Montgomery County need to figure out long-term road plans. For more information go to www.hlra.org.

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Temple Student Housing Ban Upheld in Yorktown Area

The Temple University student housing market can not develop (still) into the Yorktown Area, just south of Temple’s campus. On January 4th, Commonwealth Court upheld a 2010 Common Pleas decision that a special zoning ordinance requiring landlords to live with their student residents in Yorktown homes is constitutional. So if you don’t live in the house you can not rent to students. To read more…

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Carpenter Square: New Mixed-Use Real Estate Development in Philadelphia

Here’s some more real estate development news for one of Philadelphia’s hottest neighborhoods for real estate. A new mixed-use project at the corner of S 17th St and Washington Ave.

The development which is in the Graduate Hospital neighborhood will include:

• 11 townhouses
• six condominiums
• 2,000 square feet of commercial space
• 1,000 square feet of open space
• off-street parking

2012 US Housing Market: Low rates, but few people taking advantage of them to buy homes

Analyst predict that the 2012 US Housing Market will be similar to the 2011 US Housing Market: Low interest rates, but few people taking advantage of them to buy homes.

In this stagnate economy these historically low interest rates are not enough to have people buying homes again. People can't refi due to lack of equity and unemployment is high so there are fewer people qualifying for mortgages to buy homes. Right now what the stumbling housing market needs above anything else is stabilization. Stable interest rates, gas prices, more jobs and rest overseas are crucial to consumer confidence to the US housing's recovery.