Governor Tom Wolf's administration released information about new tax credits that will provide 600,000 dollars in financial assistance to the real estate professionals involved in redevelopment plans for six Philadelphia historical buildings.
Pennsylvania's Department of Community and Economic Development, along with the Pennsylvania Historical and Museum Commission, announced the six tax credits after more than 40 developers and real estate professionals applied for more than 15 million in grants for the 2... read more
June 2019 Market Update
Its summertime, the kids are home from school, vacations are planned and the AC is working overtime. While the weather has been hot, let’s take a look and see if the real estate market is seeing similar trends.
WHAT’S HAPPENING NOW
“Inventory continues to dominate the conversation when looking at the market. This has been an ongoing talking point for the past two years for buyers and sellers. We are seeing however that the pace of inventory has declined compared to ... read more
May brought spring into full-swing and had kids looking forward to the summer. Many spent their days revitalizing their gardens and opening the pool for the season. With everyone looking forward to summer vacations and plans let’s look back at the market for the month of May.
WHAT’S HAPPENING NOW
“Inventory shortage continues to be a highlight when discussing the market. The rate of decline is narrowing when compared to the trends we saw in both 2017 and 2018” stated Jamie Manc... read more
Philly's former Gallery Mall has been reborn as the Philadelphia Fashion District. The renewed area is under development by the Pennsylvania Real Estate Investment Trust (PREIT) and will feature a diverse collection of local and homegrown businesses, like Dolly's Boutique, South Fellini, and American Hats. The new space will house close to 5,000 sq feet of retail space on the concourse level of the development. Working with PREIT to develop the space is the California-based real estate development firm Macerich.
... read more
This past October, many in the real estate industry were worried about the state of the real estate market. After a national building boom that has lasted for more than 7 years, many in the business were wary of a slowdown. During the fall of last year, mortgage rates hit 7-year highs, price appreciation was suffering, and total home sales declined.
Despite all of these issues- Philadelphia and some surrounding areas hit record numbers for homes sold. To add a cherry on top sold prices climbed by 4.2 percent durin... read more