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October 2010

There are 9 blog entries for October 2010.

Auction: Waterfront Square Condos!

/aThe luxury Philadelphia condominium building, Waterfront Square Condominiums & Spa, is set to go on the block November 21st. Thirty-five condos total will be auctioned with minimum bid prices from $195,000 to $415, 000. Waterfront Condo's are located on the Delaware River, directly next to the brand new SugarHouse Casino. They feature water and bridge views, lots of green space, plenty of parking, spacious units, and affordable prices. Honestly, what's not to love? Some believe it has to do with the casino, but the cold, hard truth is the tough real estate market. The general consensus from tenants, and prospective buyers alike, is the Casino is either irrelevant or a major plus. When the development project for…
12,102 Views, 212 Comments.

Top Real Estate Blogs in Philadelphia

/a>Our hard work is paying off! We have just been informed that our blog is being recognized as one of the Top Real Estate Blogs in Philadelphia! We couldn’t be more proud and honored. The purpose of our blog is to provide those who are less aware of the real estate market with helpful, interesting, and up-to-date information on buying, selling, or renting a home. According to HomeInsurance.org and BloggingExcellence.org, we are providing our readers with exactly that. We would like to send a huge thank you to the people at HomeInsurance.org and BloggingExcellence.org for recognizing us and our dedication. Thanks so much to all of our readers and keep coming back for all of your real state needs!
814 Views, 2 Comments.

The Mumbai Monstrosity: The First $1 Billion Home?

/aBy: Patrick Rizzo From: LifeInc. This is not what India's Prime Minister Manmohan Singh was talking about when he called in 2007 for India's business leaders "to eschew conspicuous consumption." The Daily Telegraph reported Thursday that the richest man in India, who is also the fourth richest man in the world, just moved into what is likely one of the priciest pads on the globe: a 630 million pound ($1.08 billion), 27-storey-tall monstrosity in Mumbai. Here's what Mukesh Ambani, head of Reliance Industries, and his brood got for that price tag, according to the Telegraph: A health club with a gym and dance studio; at least one studio; a ballroom; guestrooms; a 50-seat movie theater; and three pads…
7,482 Views, 182 Comments.

Increase In Home Sales

/aNationally, there was a 5.1% decline in home sales from May to June, but the 2010 sales volume remains much higher than it was in 2009. Home sales were 9.8% higher in June of this year compared with the level 12 months earlier. Here in the are covered by TREND MLS there were 31.2 % more home sales in the second quarter of 2010 than during the same period in 2009. This upward trajectory for sales has provided the basis for the confidence necessary to stimulate modest price growth in many markets around the country. The national median home prices was 1.0% higher in June than 12 months earlier, while locally there was a 1.5% increase in the average home price over the four quarters ending in June. This price growth in turn has…
7,279 Views, 220 Comments.

The Great Mortgage Mystery

/aBy: Brett Arends From: The Wall Street Journal The big question from the mortgage meltdown isn't why so many distressed homeowners are defaulting on their loans. It's why any of them are still making payments. In the worst-hit areas millions have no equity left, and little hope of seeing any anytime soon. The market value of their homes is far below the size of the mortgage. If they just stop paying, what is going to happen to them? In many cases they may get to live in the home rent-free for months, even years, until the bank gets around to seizing it. If Frank Abagnale—the con man played by Leonardo DiCaprio in the film "Catch Me If You Can"—were operating today, he'd probably be living rent-free in a super-luxury…
2,718 Views, 183 Comments.

Reasons Why You Should Buy A Home Rather Than Rent

/aFrom: Owen at RealtyInvesting.org Do you know the difference between buying and renting a home? A big opportunity is what you are missing out if you happened to don’t know the difference between these two. Its quite true that when you rent a home you have a lot of freedom compared to when you buy yourself a house. You can move around anywhere you want where you think there are best options for you and you wouldn’t be stuck in just one place. The problem with renting is that you only get to stay but when you buy your own home, you really own the home. Yes, you don’t have much freedom as when you rent and buying a house requires more of a commitment. And if you are looking for ways to secure you and…
2,585 Views, 169 Comments.

NRT LLC Acquires Coldwell Banker Preferred

Coldwell Banker Preferred Logo/aNRT LLC, a subsidiary of Realogy Corporation that is the nation's largest residential real estate brokerage company, today announced it has acquired the assets of Coldwell Banker Preferred in Philadelphia. Coldwell Banker Preferred is a leader in the greater Philadelphia and northern Delaware marketplaces and was the third-largest independently owned Coldwell Banker franchise affiliate ranked by sales production in the brand's award rankings for North America in the second quarter of 2010. The company's eight offices and 500 sales associates plus staff will continue to operate under the banner of Coldwell Banker Preferred as part of NRT's Eastern Seaboard region. In addition, Regina Coia, president of…
3,170 Views, 237 Comments.

Changes to FHA Mortgage Insurance Premiums

/a>On August 12, 2010, the President signed into law, Public Law 111-229, which provides the Secretary of Housing and Urban Development (HUD) with additional flexibility regarding the amount of the premiums charged for Federal Housing Administration (FHA) single family housing mortgage insurance programs. Specifically, the new law permits HUD to increase the amount of the annual mortgage insurance premium that HUD is authorized to charge. For mortgages involving an original principal obligation of less than or equal to 95 percent of the appraised value of the property, the amount of the authorized annual premium is increased to 1.5 percent (from .50 percent) of the remaining insured principal balance. For…
1,700 Views, 194 Comments.

New Home Construction Surges

From: CNNMoney.com Written By: Blake Ellis NEW YORK (CNNMoney.com) -- New home construction surged to the highest level in four months in August, a government report showed Tuesday. Housing starts, or the number of new homes being built, jumped 10.5% to a seasonally adjusted annual rate of 598,000 in August from a revised 541,000 in July, the Commerce Department said. Economists were expecting a rate of 550,000 housing starts, according to a consensus estimate from Briefing.com. The number of new homes being built in August was up 2.2% from a year ago. "This is a step in the right direction, but you have to remember that we're still hovering around all-time lows," said Kevin Smith, a senior vice president at…
6,464 Views, 226 Comments.