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Category / Seller Resources

The Philadelphia Real Estate Market, Buyers v/s Sellers!

According to the Philadelphia Inquirer in a non-scientific study of 1600 buyers, although a miniscule median price drop was registered for Philadelphia in 2008, sellers do not think it is a good time to sell. However, the overwhelming majority buyers think it as an awesome time to buy! Those surveyed also thought the Philadelphia metro...CONTINUE READING

2008 Center City Philadelphia Real Estate Market Update

Center City Philadelhia Real Estate Monthly Statistics for 19106, 19103, 19102, 19107, 19146, 19147, 19123 Pricing Details of Sold Units  Date Units Listed Listed Vol Listed Average Pended Units Sold Sold Volume Sold Average Avg DOM Dec 2008 261 98,987,319 379,261 75 131 42,554,725 324,845 88 Nov 2008 366 148,441,958 405,579 108 123 40,848,310 332,100...CONTINUE READING

Mortgage Rates are under 5% again! Buy or refi NOW!

Rates are under 5%. Time to refi?  Check below. Then call Carina @ Center City Mortgage for the best rates in Center City. Carina’s mobile is 610-388-3900!     Refinancing example Original loan: $150,000 Refinancing amount: $148,638 Loan maturity (years): 28 30 30 30 30 30 Interest rate: 8% 7.5% 7% 6.5% 6% 5.5% Monthly payment: $1,100.65 $1,039.30 $988.89...CONTINUE READING

Mortgage Property Insurance Coverage Act

Most people are not aware of the recently enacted Pennsylvania Law that benefits Homeowners by placing a “Cap” on the amount of property insurance that a mortgage lender can require.  The new law prohibits all mortgage lenders from requiring borrowers to obtain property insurance coverage on owner-occupied private residential property that exceeds the replacement value...CONTINUE READING

Why Fed Rate Cuts Do Not Equal Lower Mortgage Rates

When the Federal Reserve cuts the rates, many buyers and sellers call their mortgage representatives expecting a lower interest rate.  Others who have been waiting to refinance are confused as to why mortgage rates have not moved lower during the recent Fed rate cutting spree.  Is a Fed rate cut really good news for mortgage...CONTINUE READING

Live Free Program offered exclusively through Keller Williams Realty

Keller Williams agents are now able to offer an additional incentive to their seller’s and buyers alike. The Live Free Program allows those who are putting 10% down payment on a home, and using American Home Bank for their financing, to receive three free mortgage payments of principal and interest. In essence, if you settled...CONTINUE READING

National & Local Housing Supply Rapidly Shrinking

For Home Buyers, The Window To Negotiate With Sellers May Be Closing Posted on November 12, 2008 on themortgagereports.com If home prices are all about Supply and Demand curves, it looks like the national recovery is well-underway — the housing inventory is falling in most major markets. As reported by ZipRealty, the number of single-family...CONTINUE READING

Don't chase the market; price ahead and let the market chase you!

The ability to learn faster than your competitors may be the onlyu sustainable competitive advantage – Arei De Geus When the market shifts, it may resemble something like a monster truck crushing the cars on its path in one of those monster truck rallies. It has a stream roller effect on the market. The survival instintcs...CONTINUE READING

I’ve seen the comps. I know what others have recently paid. I just want to price it high anyway. I’m in no rush. Maybe we will break a record with an out-of-town buyer. Plus you’re hanging your sign, you’re getting exposure, what do you care? What can it hurt?

It can hurt you! It will stay on the market forever, and that’s your number one enemy. There is a direct relationship between what a home sells vs. how long it has been on the market. Well priced homes always sell first no matter what type of market it is. Everyone looks at comparables and...CONTINUE READING

I’d like to see my house advertised everywhere, every week. Advertising sells! Why don’t you do more advertising???

For 2 reasons: First, it so 20th Century! Today’s buyer shops on-line. They go to professional websites like centercityrealestate.com or nationally, Trulia.com or Realtor.com to virtually tour homes 24 hours a day and to view pictures of EVERY home for sale, to analyze statistics, compare prices, check out the neighborhood, review legal docs & more....CONTINUE READING

Philadelphia Housing Summary – 2008 3rd Quarter

Despite what you hear on the news, the Philadelphia real estate market is still showing resiliency.  However, the inventory still stands at all-time high levels and the number of homes sold are much less than the boom years. The properties are also on the market for average of 67 days, about 25 days more than...CONTINUE READING

Center City Philadelphia Home and Condo Prices

Alan J. Heavens, Real Estate Columnist for the Philadelphia Inquirer, wrote an excellent piece recently that was featured in May 24th’s paper.  The article described the difficulty facing the real estate professional or the potential home buyer or seller when trying to interpret the endless stream of home sales and price data being publicized.  Two...CONTINUE READING