Even though the home buyer tax credit expired on April 30, 2010 and won’t be renewed, there may never be a better time to buy a home in Philadelphia than today. There are many outstanding opportunities for Philadelphia home buyers, but they may not be around forever.

Mortgage interest rates are hovering at near-record lows and homes in the Philly market have become more affordable. Prices in most neighborhoods have moderated from the highs of the housing boom and are now competitive. Between the great interest rates and competitive prices buyers can get a home that was out of reach just a few years ago.

If you are thinking about buying a home don’t count on interest rates or prices staying at current levels, however. Mortgage rates are sensitive to market conditions and even a slight increase can push monthly payments beyond your budget and comfort range. Most economists expect that home prices and interest rates will begin to increase by 2011.

Although we would love to help you find your next home, we don’t believe that buying a home is right for everyone. It’s a big commitment.  You should have a clear idea of what you’re getting into before you commit to 30 years of payments. Want to learn more about the Philly housing market? Give us a call.

Technorati: philadelphia market conditions, philly home values, philadelphia mortgage rates, philly home buying

posted by janice       SEARCH the Philadelphia MLS. No Registration Required!

Homebuyers ask us all the time about the amenities of a neighborhood and while we pride ourselves on knowing everything about the areas we sell once in a while we don’t know everything (hard to believe huh?) Walkshed Philadelphia allows users to input any address in the city and see the diversity of amenities within a one-mile radius.

Unlike WalkScore that measures the walkability of a neighborhood this site lets users prioritize the amenities they’d like to measure. Philadelphians and those that wish they were can score 19 different categories, ranging from a Philly CarShare pod, coffee shop, library, farmer’s market, and bus stops to tracking quality-of-life issues like instances of violent crime.

This is one more great tool for a well-informed buyers’ arsenal.

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Technorati: philadelphia walkshed, philadelphia home buyers, relocating buyers, philly walkability

posted by janice       SEARCH the Philadelphia MLS. No Registration Required!

ORIGINAL OFFERING PRICE: $389,000

612 CHRISTIAN ST, UNIT 1 & 3  BELLA VISTA

2 BEDROOMS / 1.5 BATHS

1,089 Square Feet

Condo Fees: $175/mo

10 Year Tax Abatement

Not your typical bank owned REO property…luxe, beautifully maintained new construction condominium residences. This is a boutique, 3-unit building w/ exclusive single floor residences. All units include temperature controlled garage parking and 8′x8′ storage lockers. Private, keyed elevator from garage opens directly into your unit!
 
Spacious homes boast high-end, traditional finishes including hardwood floors in living spaces/kitchens, Berber carpet in bedrooms, gas fireplaces, extensive recessed lighting throughout, significant moldings, endless windows allowing for extraordinary natural light, and wide-open floor plans. Kitchens w/ solid wood cabinetry, decorative moldings, GE Profile SS appliance package, natural stone countertops, and peninsula to accommodate stools. Baths clad in natural stone feature rich wood vanities, granite tops and double, under mount sinks. Each unit also has incredible closet/storage space throughout. There is a washer/dryer in each unit.

Only 2 available with special financing available through Conestoga Bank. Incredible value…

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posted by janice        FIND Your Philly Condo. No Registration Required!

You’ll never guess who said these deadly words. No, it wasn’t the seller. No, it wasn’t the buyer. No, it wasn’t the mortgage guy.

It was the home inspector.

Really! He came down from the rafters, hiked up his pants, gave an arbitrary price to fix what he saw and scared the daylights out of the buyers. This was the 2nd home he inspected for them and tried to scare them away from.

This time we weren’t going to let him do that. We dealt with the problem (and yes he was right…a sloppy rafter repair needed fixing) and went to settlement. Not a big deal.

So what’s my point? As anyone in any service business knows, you don’t speak to a client in the negative. And everything this inspector said (we didn’t and will never recommend him) was in the negative. But I was always taught that there are no problems – only solutions. That’s the way we work. That’s the way vendors should work. We’re here to do a job and to do it well. We’re not here to scare people away from what they want. We’re here to show them how to get what they want.

We make recommendations, we advise, we guide and we’re here for you. Let us help you get the best deal, not kill the deal. That’s what you deserve.

Potentially related: Philadelphia Home Buyers: Trust Me! Part 2

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Technorati: philadelphia home buying, home inspections, realtors, home buying process

posted by carolyn SEARCH the Philadelphia MLS. No Registration Required!

We always tell our buyers who aren’t familiar with the neighborhood they are considering buying a home in to spend some time getting to know the area. We encourage them to walk through the neighborhood and talk to some of the residents and local business owners —you are likely to get an honest review of the neighborhood, both the good and the bad. Spend some time in the neighborhood at all different hours and days. Go to the cafes, bars and restaurants where the locals hang out and ask them what they like / don’t like about the neighborhood. All of this will give you important information you won’t get from the neighborhood’s appearance.

“Location, location, location” is the often repeated mantra in the real estate world and with a little research you can ensure that you are settling into the location that’s just right for you.

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Potentially Related Posts:
Philly Home Buyers: Are Your Neighbors Rotten

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posted by janice       SEARCH the Philadelphia MLS. No Registration Required!

Charming Philadelphia (Pennsport) House

324 Gerritt St, Philadelphia PA 19147

2 bedrooms, 1 bathroom, 726 sf
MLS# 5337266  $174,500  Price Slashed $158,500

For more information on this Pennsport home, please call The Bovee-Perlow Group
267.238.5779

 FIND YOUR PHILLY HOME

Technorati: phila homes for sale, phila real estate, pennsport homes for sale, philadelphia mls

posted by janice       SEARCH the Philadelphia MLS. No Registration Required!

Forbes Magazine in a recent article listing the top 10 cities to buy a home, ranked Philadelphia as the 4th best place to buy a house in the U.S.

“ The City of Brotherly Love has a tight housing market–just 1.9% vacancy–reflecting the lure of a charming and historic American city. Steeped in tradition, this city is priced well, with a median home price of $234,900, up from $215,000 in 2005. With abundant cultural outlets, including universities, museums and theaters, Philly is a great place to call home.”

The ranking was determined by the cost of buying versus renting, tax incentives where present, and whether a buyer would have an opportunity to build equity. Forbes surveyed the 40 largest metropolitan area housing metrics looking for cities where prices have appreciated over the last two years. It also measured vacancy rates, providing extra points where rents are significantly higher than a buyer’s mortgage payment for the same home. Philadelphia’s place was earned due to price stability, increasing rents and affordable housing stock.

YO we all know that Philly is a city on the rise with a tempting cost of living.

Potentially Related Articles:
10 Amazing Reasons to Move to Philly
Is Philly Friendly and What’s It to You?

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posted by janice       SEARCH the Philadelphia MLS. No Registration Required!

1. More colleges than Boston.

Two Ivy League schools in an hours drive, dozens of excellent universities.

2. One of the world’s biggest city parks.

Depending on who you talk to, Fairmount Park may be the 2^nd largest city park in the world. Tennis, trail riding, fishing, a Japanese garden, free Orchestra concerts, it’s all there.

3. America’s 2^nd-largest shopping mall.

King of Prussia complex is up there with the Mall of America.

4. Half of the American population is within a two-hour drive.

Great for your business. Not so great if you’re trying to avoid

annoying relatives. But still.

5. Midway between DC and New York.

No need to drive, either. Amtrak is excellent.  Manhattan is an easy day trip and a

do-able commute of about 75 minutes by train.

6. Midway between the mountains and the beach.

90 minutes to the Poconos. An hour fifteen to the Jersey Shore.

7.  Great BYOBs

Philadelphia is not just famous for restaurants, but for bring-your-own bottle restaurants. A huge savings for thousands of Philadelphia foodies.

8.  Easy flights in and out of Europe.

Travel veterans know it: Philadelphia customs is a faster process than New York’s.

9.  And then there’s Delaware.

Forty minutes down 95 and no sales tax on anything. Enough said.

10. More Impressionists than Paris.

Philadelphia’s museums have the largest collection of Impressionist paintings outside France.  So there.

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Technorati: relocation, relocating buyers, relocate to Philadelphia, reasons to move