Philadelphia Real Estate on the Brink of Dramatic Growth

The City of Philadelphia's Planning Commission released a comprehensive plan that includes very optimistic growth statistics. The commission stated that over the next 25 years, Philadelphia could attract 100,000 residents and create more than 40,000 jobs.

The hopeful report was based on six different population forecasts with distinct approaches for gathering information. All major local statisticians that work on population growth models signed off on the report and concluded that the agreements were realistic.

The planning commission's report clearly shows how Philadelphia is on a path to sustained growth, and sometimes more accelerated development compared to other similar sized cities. One reason for this may be the lower cost of living. Philadelphiaians enjoy up to 40% less rents, taxes, and public transportation costs than New York City. The train system between the two cities is excellent which supports a daily Phila-NYC commute. This means more and more people are living in Philadelphia, taking advantage of lower costs of living, and still working in New York City.

Philadelphia is also seeing a higher retention of college graduations staying in the area. With the sunset of the financial collapse in 2007, high paying jobs on Wall Street have declined. Students graduating from some of Philadelphia's best universities, in many cases, are having more luck finding employment close to home.

To make room for the anticipated growth, the Philadelphia Planning Commission has filed various public works projects that include adding transit lines, developing new park facilities, and designing a new city agency to manage vacant and underutilized land. City officials describe the plan as long term and wide-ranging.

The expansion in population, jobs, and public infrastructure may be excellent news for real estate owners in Philadelphia. As the City becomes more connected and developed, more opportunities will be created and residents will see property values ​​agree. Philadelphia is also shifting from a manufacturing to a service economy. This means that there will continue to be a surplus of vacant industrial buildings to convert to residential, commercial, or mixed-use properties. These conversions can further help to improve illuminated areas and expand city resources to more neighborhoods.

Although the past few years have been rough, the future may be bright for the City of Brotherly Love.

Source by Joe Jesuele

Real Estate Investors – Creating Flyers to Attract Private Lenders

Distributing flyers in your community is another marketing strategy for finding private lenders who are interested in investing in your real estate deal. Post flyers at senior centers and areas where high net worth people attend and traffic.

Again, you need to word the content in the flyer as an educational seminar or as an offer to receive free information related to your real estate services. It is important that you remember this to keep yourself out of trouble with the Securities and Exchange Commission (SEC).

Create an Effective Flyer Title

The manner in which the title is worded on your flyer is vital to the types of responses you will get. The more targeted the title is to the audience you are trying to attract, the more successful you will be in attracting highly qualified people that will be interested in working with you. 

  • Generic vs. Precise: If the title of the flyer is very generic, you will get a general audience of untargeted people who may not be interested in what you have to offer. A precisely written title will attract the right prospects that are specifically looking for the service that your flyer is advertising.

For example, don’t just put “Real Estate Seminar” in the title because this is a very broad term. What about the real estate seminar? Why do you want people to attend? What are the benefits? What are your attendees going to get out of it? 


Focus on what it is going to offer to your prospect and be specific. Do not go into agonizing details that are going to make your reader’s eyes glaze over. Provide the reader with just enough information to peak their curiosity so they will attend your seminar.

  • Organize the Format: Organize the format of the flyer so it looks professional. You can do this by having it professionally printed or create it yourself in a simple computer program such as Microsoft Publisher or Print Shop. Make certain it is easy to understand and easy to read and be sure everything is spelled correctly with correct use of grammar.

However you decide to create it, do not handwrite it because it will make you look like an amateur and then people will question whether or not you are knowledgeable and trustworthy. 

  • Enhance with Graphics: Include a picture somewhere on the flyer. This could be a picture of yourself delivering other real estate seminars in front of an audience, a gathering where people are asking you questions, or something else related that will provide the reader with a visual image of the content that is being addressed on the flyer.
  • Prompt the Reader to Take Action: Tell your reader what you want them to do after they read your flyer and provide your contact information, as well as the time and place of the event. You can include an extra tidbit if they call you soon such as a free offer or something related. You could also include a statement at the bottom of the flyer that refers to what they may lose out on by not attending your seminar.

Source by Mike Lautensack

Closing Costs – Fees and Expenses Associated With Selling Your Home

When considering selling a home, the savvy homeowner must be aware of the costs associated with such a sale. While these costs can vary depending on the location of the home, many of the costs are universal.

First and foremost, if there is a mortgage lien on the home that has not been satisfied, the balance will be deducted from the proceeds of the sale. This also includes any second or additional mortgages. The lender will compute the actual balance due through the date of the sale and provide this information to the title company in advance.

Property taxes are also calculated through the date of sale and deducted from the proceeding. If there is an outstanding property tax bill, this too will be deducted from the seller's portion of the proceeds at closing. The property taxes must be current in order for the sale to be finalized.

If the seller obtains the services of a professional real estate agent, the commission which was negotiated will be paid to the broker at the time of closing.

A title insurance policy must be purchased by the seller ensuring that the home is being transferred to the new home buyer with a clear title. The cost of title insurance is based on the sale price of the home.

In some locales, utilities must be paid through the date of closing. For example, the water company may come out to take a final meter reading just before closing and informing the title company of the final water bill due and owed. This bill will be deducted from any proceeds the seller may net at the time of closing.

The seller will also be charged a governmental transfer tax which will vary by municipality.

Another governmental charge will be the cost of releasing the mortgage, if any. This fee is usually fairly minimal.

If there is a dispute against the seller, it's possible that any net proceeds from the sale of the home could have been applied to said judgment. This would also include any mechanic's lien that has been placed against the property.

Attorneys fees are also charged to the seller at closing, if these fees have not been paid in advance. At minimum, an attorney is required to prepare the Warranty Deed and Green Sheet to ensure proper transfer of the property.

An optional charge would be a home warranty offered to the home buyers. In most instances, this is paid for by the seller and is deducted from the proceeding. Offering this warranty may help sell a house faster.

It is in a seller's best interest to speak to a professional like an experienced home buyer or Realtor to obtain a more precise estimate of charges for their particular region. This will allow the seller to compute the difference between the potential sale price of their home, and the expenses that will be incurred, to accurately review their bottom line. Bear in mind, if the expenses exceed the purchase price, the seller will be required to bring funds to the closing table to cover those expenses. Therefore, it is imperative that a seller be aware of the true costs associated with selling their home, whether they live in a larger city like Philadelphia or a smaller rural area in the Midwest.

Source by Joshua Weidman

FTSE Nareit All REITs Index Down 0.1% in December

REIT returns were marginally lower in December, as the REIT market produced total returns of more than 9 percent in 2017.

The total returns of the FTSE Nareit All REITs Index fell 0.1 percent in December, while the S&P 500 posted a total return of 1.1 percent. For the year, the FTSE Nareit All REITs Index gained 9.3 percent; the S&P 500 returned 21.8 percent.

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Prologis Increasing Permitted Land Sites for Build-to-Suit Development

Industrial REIT Prologis, Inc.’s (NYSE: PLD) supply of permitted land sites in global locations means it can continue to meet the increasing demand for build-to-suit development activity in 2018, according to Michael Curless, the company’s chief investment officer.

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HPET Preserving Affordable Housing as Competition Intensifies

A typical tenant at the Courtyard at Encanto in central Phoenix is a single mother working as a home health care aide. She makes about 51 percent of area median income in a neighborhood that is undergoing rapid gentrification.

Housing Partnership Equity Trust (HPET) purchased the 160-unit Courtyard at Encanto in conjunction with Chicanos por la Causa (CPLC), one of Arizona’s largest community development corporations (CDCs), in 2017. For Anne McCulloch, president and CEO of HPET, serving the needs of such tenants embodies the mission of the social-purpose REIT.

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Wisconsin Students Get Hands-On Approach to REIT Investing

Second-year Real Estate MBA students at the University of Wisconsin-Madison are gaining unique hands-on experience in active portfolio management as they manage a $2 million fund invested solely in REITs. The REIT fund is part of the University of Wisconsin Endowment first established in the late 1990s by three prominent alumni.

The students are enrolled in a special track of the university’s real estate MBA program known as the Applied Real Estate Investment Track (AREIT). It is described by the school as the first program of its kind in the country.

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FTSE Nareit All REITs Index Down 7% in February

REIT returns fell in February as macroeconomic factors continued to dominate investor sentiment.

The total returns of the FTSE Nareit All REITs Index fell 7 percent in February, while the S&P 500 fell 3.7 percent.

Total returns of the FTSE Nareit All Equity REITs Index fell 7.3 percent in February. The total returns of the FTSE Nareit Mortgage REIT Index fell 3.3 percent in the month.

The yield on the 10-year Treasury note rose 0.2 percent in February.

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How to Sell Your House to an Investor in Philadelphia PA

How to Sell Your House to an Investor in Philadelphia PA

In the past, people would buy a home and live there for the rest of their lives, often passing it on to their family. Things have changed. Many first-time homebuyers are going into it with the attitude that they’ll sell when it’s time for a change. If you’re looking to sell your house, you could be frustrated.

Despite the market trends in Philadelphia slowly shifting, it’s still very much a buyer’s market. With so much property available, you could find yourself waiting months or longer to get a fair price on your home.

How To Sell Your House To An Investor in Philadelphia

One option that many homeowners are turning to is selling to a real estate investor like Philly Home Buyers, LLC to buy your house from you.

These independent investors typically purchase homes, repair them, and then use them to generate income; either as rental units or sell them for a profit. Philadelphia has numerous reputable and trusted real estate investors who will help you sell your home quickly.

Selling your house to an investor is relatively simple.

You provide him or her with information about your home and personal situation.

The investor will then inspect the home and determine a fair value, taking into account necessary repairs, and make an offer. If the offer works for you, you’ll close, and receive the payment for your house in cash… usually within 7 days if you want to close that fast.

How Fast Can You Sell Your House To A Philly Investor?

This process is extremely quick compared to more traditional methods, often taking just 7-10 days.

If you need to sell your Philadelphia home very quickly, with little hassle, selling to a Philadelphia real estate investor is a great option.

When you work with a real estate investor… there usually aren’t any fees involved, as you don’t have to worry about paying an agent commission, and most often, the investor will cover the closing costs.

While real estate investors are often looking to purchase homes at a discount, allowing them to fix up the house if it needs repairs… then sell the home to another home owner.

The Hidden Costs Of Waiting To Sell Your Philadelphia House

Many people don’t consider the hidden costs of holding on to a property.

Extra months of mortgage payments, utilities, maintenance costs, and other fees could quickly add up. By selling at a slight discount, you could potentially end up with a larger sum in the long run.

By selling your home to a real estate investor, you’re saving yourself possible months of headache, and you can quickly move on to your new home. You’ll avoid expensive fees, closing costs, and investors will purchase your home as-is, assuming the costs of repairs that you’d have to pay if you were selling via more traditional means.

Fill out the form to get a fast cash offer on your home!

Give us a call anytime at (215-279-4315)

Philadelphia Rent Growth Slows Down

The Rent trend data in Philadelphia, Pennsylvania

Philadelphia Average Rent

As of October 2017, average rent for an apartment in Philadelphia, PA is $1580 which is a 15.38% decrease from last year when the average rent was $1823 , and a 0.44% decrease from last month when the average rent was $1587.

One bedroom apartments in Philadelphia rent for $1404 a month on average (a 17.95% decrease from last year) and two bedroom apartment rents average $1738 (a 21.35% decrease from last year).

Beds Rent
All beds 1,580
1 beds 1,404
2 beds 1,738

Philadelphia Average Rent By Neighborhood

Neighborhood Rent
Fairmount-Spring Garden 2,193
City Center West 2,109
Riverfront 2,073
City Center East 2,056
North Central 1,851
Poplar-Ludlow-Yorktowne 1,835
Wharton-Hawthorne-Bella Vista 1,823
Cobbs Creek 1,623
Fishtown 1,588
Schuylkill Southwest 1,557
South Philadelphia 1,532
Hartranft 1,524
Chestnut Hill 1,520
Kensington 1,464
Pennsport-Whitman-Queen 1,436
Wynnefield 1,410
Manayunk 1,395
Belmont 1,384
Roxborough 1,311
East Falls 1,305
Brewerytown 1,300
Point Breeze 1,261
Girard Estates 1,215
Alleghany West 1,208
Marconi Plaza-Packer Park 1,195
Holmesburry-Torresdale 1,160
Mount Airy 1,152
Eastwick 1,075
Torresdale 1,074
Richmond 1,022
Germantown 1,006
Academy Gardens 1,006
Summerdale 1,000
Strawberry Mansion 975
Bustleton 965
Morris Park 947
Somerton 944
Cedar Brook 924
Oxford Circle 917
Mayfield 912
Grays Ferry 899
Tioga-Nicetown 882
Byberry 880
Haddington-Carroll Park 877
Fox Chase 873
Rhawnhurst 859
Oak Lane 824
Wissanoning 798
Hunting Park 794
Logan-Fern Rock 794
Fairhill 789
Olney 767
Frankford 761

The most expensive Philadelphia neighborhoods to rent houses in are Fairmount-Spring Garden, City Center West, and Riverfront.

The least expensive Philadelphia neighborhoods to rent houses in are Frankford, Olney, and Fairhill.