DIY: THE ELEMENTS OF A GREAT OUTDOOR SPACE

Big or small, inexpensive or extravagant, your outdoor living space is an investment toward creating your own personal sanctuary. It doesn’t have to be overly complicated, the three things to include fire, water and earth (and a little shade). There are several ways in which you can use these elements to create a cozy open-air refuge to call your own.

In a recent national survey, the number one request for an outdoor room is the outdoor kitchen. Although outdoor kitchens can involve pricey, extensive projects, the idea is to extend your home’s living space into the backyard. If a built-in gas grill with all the accoutrements isn’t in the budget, a charcoal grill will cook your meals up nicely. Whether you’re serving a few or a family feast, you can find a variety of stylish outdoor dining tables and chairs to suit your needs.
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The Truth about FHA 203k Loans

The FHA 203k loan program provides home buyers the opportunity to buy and fix up a property, without exhausting their personal savings. Home buyers can purchase a property and include whatever costs to make required repairs or desired updates, or to fully renovate the property, all into one simple thirty-year fixed loan. The renovation costs just get added onto the purchase price of the home. The works starts after the purchase of the property, using the money that the bank has set aside.

The appraisal or the maximum mortgage amount is based on the lesser of 1) the as-is value + the cost of rehab work, or 2) 110 percent of the after-improved value of the property.

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Work on New Urban Village on the Delaware River Starting this Summer in Bensalem, PA

Bensalem, PA waterfront is about to get a huge makeover. The new urban village will include 440 townhomes, 16 single family homes and a 10-story, 150-condominium mid-rise. Also, the mid-rise will include retail, office and restaurant space on the banks of the Delaware River off State Road. It will feature an 8-acre park directly at the water’s edge and a marina.

The company recently launched and will set up a sales center on the site, on State Road east of Station Avenue, by the end of April. Construction is expected to begin in August or September.  To read more about this story.

Happy Spring! Now Let’s Start Planning your Garden

Happy Spring! If you are in the Philadelphia area, today did not feel like the first day of spring. Boy was the groundhoud Phil wrong this year. Today’s post is on a DIY project regarding Planning your Garden.

With the warmer months coming, now is a very good time to sit down and plan your garden. If you’re just starting out, make sure you select a site with at least six hours of sunlight, good drainage, air supply, loose rich soil, easy access to equipment and a near by water supply. Also, check with your local utility companies to make sure of any underground wires or lines. Make sure to make a checklist. Watch this video to learn more

FHA to Increase the Annual Mortgage Insurance Premium

The FHA is to increase the Annual Mortgage Insurance Premium it collects. This change takes effect for cases assigned on or after April 1, 2013. Monthly rates will be charged based on the initial loan-to-value ratio and length of mortgage. See the new monthly rates.

Tioga section in Philadelphia sees a turnaround

Tioga 40 years ago was a gorgeous neighborhood. Overtime the neighborhood fell down. Dozens of factories in Tioga, Nicetown, and Allegheny West began closing and putting thousands of people out of work. Verna Tyner started a community organization that she is president, uniting Tioga, and groups such as the Allegheny West Foundation and Mercy Neighborhood Ministries began to work on strategies to combat the blight.

The organization sees a turnaround for a number of businesses and institutions have moved into, or will soon occupy renovated factories or once vacant industrial sites. The most recent development project is the $5.6 million NewCourtland LIFE Center, under construction at 19th Street and Allegheny Avenue. With it on target to be finished by the end of the year, it will be an Independent living for Elders.  To read more..

Fannie, Freddie to Hand Mortgage Securitization to New Firm

Fannie Mae and Freddie Mac will form a joint venture for securitizing home loans that could end up replacing the two government-controlled mortgage finance giants. Fannie Mae and Freddie Mac, which help finance about two-thirds of new U.S. homes loans, were seized by the government in 2008 as mortgage losses mounted. They have drawn nearly $190 billion from the U.S. Treasury to stay afloat. Democrats and Republicans on Capitol Hill agree that Fannie Mae and Freddie Mac should eventually be wound down, but have failed to find common ground on what should replace them. DeMarco’s plan provides an interim structure for some of their business, but the ultimate decision remains in Congress’ hands. To read more….

Potential Apartment Building to be Built off City Avenue

An 11-story apartment building is proposed to be developed in Bala Cynwyd, block off of City Ave. Philadelphia and Lower Merion Township recently coordinated on rezoning the area through the regional City Avenue Special Services District. If approved projected rents would be $2,000 to $2,500.  To read more...

Vacant lot on Girard Ave In Philadelphia Could be Developed

Preliminary discussions have taken place between real estate developers and Philadelphia neighbors regarding a mixed-use development project envisioned at the southeastern corner of 27th and Girard in Philadelphia.

Plans are for a four story building with the ground floor commerical and residential units above.

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Possible Real Estate Development by Temple Hospital in Philadelphia

Rookie real estate developer plan is to build 12 two- and three-bedroom, four-story condominiums, starting at $150,000 and $199,999, and called “The Renaissance.”

The real estate developer wants to revive her childhood neighborhood that’s in distress.

Her goal now is to build at least 100 houses in Tioga section of Philadelphia in the next five to seven years.

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