Archive for the ‘Uncategorized’ Category

When Hiring a Professional Home Stager Makes Sense

Tuesday, May 7th, 2013
living room fireplace

Looks inviting, doesn’t it? A professional home stager can help you achieve this look when you sell your home.

Let’s face it – not all of us are design geniuses. We may keep our homes spic and span, with everything in its place, but that place still might not show off its qualities to greatest advantage when it comes time for you to sell it.

We may know all the little things we need to do to make the inside of our homes more appealing to buyers, like getting rid of clutter and removing peculiarly personal mementoes or odd knicknacks, but we may still not have our home in ready-for-its-closeup condition.

In such cases, it makes sense to engage the services of a professional home stager. Home stagers are interior design specialists who focus on turning sellers’ homes into show pieces. They know the little tricks that turn a room from ho-hum to dazzling, where and how to place furniture to maximize the appearance of spaciousness, and the steps to take to downplay a home’s defects.

And in just about all cases, they can do it with the objects you already own.

What’s more, hiring a home stager can be an excellent investment. A survey conducted by the HomeGain website found that professional staging produced a $1,780 average boost in a home’s selling price, or a 586 percent return on investment.

Which means that if you can afford it, hiring a professional stager can result not only in a faster sale of your home, but also a more profitable one. The Philadelphia area has many talented, knowledgeable home stagers to choose from.

 

Spring Festival This Saturday on South Street

Friday, May 3rd, 2013

Spring Festival posterTomorrow – Saturday, May 4 – “the hippest street in town” will become even more of a playground from noon to 8 p.m.

During those hours, South Street from 2nd to 8th streets and 2nd from South to Lombard will be closed to traffic for the first-ever South Street Headhouse District Spring Festival, an afternoon-long celebration featuring food, music, crafts, shopping, fun for the kids, and more.

The street will also be a stage, with featured bands performing hourly on the main stage at 5th and South streets, a kids’ stage at 2nd and South featuring the School of Rock House Band and the Tune Up Philly youth orchestra, and other musicians and performers doing pop-up sets at satellite stages along the street.

Local restaurants and bars will turn out their best fare for the event – we’ll bet there will be specials – and hot dog emporium Hot Diggity will wheel out the mobile version of its South Street restaurant at the festival.

Discount parking is available at the lot on Columbus Boulevard at the foot of the South Street pedestrian bridge, and other area lots will also be open. Or save yourself the headache and take SEPTA to the event – or let Uber drive you there: the car service is offering users their first ride free with a special promo code for the event.

For more information about the festival, parking and the promo code, visit the South Street Spring Festival web page.

 

Time Machine Lands on South Broad Street

Saturday, April 27th, 2013
Dinosaur on the beach

From the land before time to the time of your life: This year’s PIFA Street Fair is a real time-traveling experience.

If you had a time machine, where would you go?

The hundreds of local arts and cultural organizations participating in the PIFA Street Fair today on South Broad Street have as many answers to that question as there are places and times to visit.

This year’s fair is even bigger and more wide-ranging than its 2011 predecessor, with plenty of fun for kids of all ages. Whether it’s hanging out with prehistoric dinosaurs, rising above it all on the giant Ferris wheel,  catching a thrill on the carnival rides or partaking of the many family-friendly activities presented by the fair participants, you’re sure to have a good time no matter what era you wind up in at this year’s PIFA Street Fair,

The fair, which continues until 7 p.m., is the capstone event of the 2013 Philadelphia International Festival of the Arts, which featured performances all over the city that took audiences forward into the past and back to the future, in keeping with this year’s theme, “If I Had A Time Machine.”

For more about this year’s festival and the Street Fair, visit the PIFA web site.

Affordable Living Solution for Dense Cities: Think Small

Thursday, April 18th, 2013
Micro-apartment

Small apartments are the big thing in a growing number of densely built cities where affordable housing is hard to come by. The trend offers benefits for both renters and landlords. Photo from NYCMayorsOffice via Flickr.

When a middle-class income is barely enough to buy a phone booth in some of our largest cities, how can we come up with housing middle-class residents can afford?

The answer, say a growing number of experts, is: Build phone booths.

We exaggerate a bit, we realize. But the “micro-apartment” – an apartment that’s significantly smaller in size than those allowed under old zoning codes – is gaining favor with both elected officials and developers.

New York Mayor Michael Bloomberg, for example, has championed revising the city’s zoning code to legalize apartments as small as 250 square feet in size. In Philadelphia, such apartments would still be illegal under the current zoning code.

Developers are warming up to them as an affordable living solution because they offer a win-win situation for both the builder and the tenant. For example: A typical one-bedroom apartment in New York has 750 square feet of space. Under New York’s new minimum size of 250 square feet, a builder could put three apartments in that same space.

Those apartments will rent for well below what that 750-square-footer will, putting them within reach of one- and two-person households, especially younger ones of more modest means. Yet the total income to the owner will be more than what that 750-square-foot apartment would produce.

This article explains the advantages of building micro-apartments for property owners in densely built cities. We don’t think Philadelphia is one of these yet, not by a long shot. But if the residential boom that has transformed swaths of North and South Philadelphia into extensions of Center City continues, we could envision a time when demand for housing in the most desirable areas is so great that owners might want to consider the small-scale solution too.

 

3rd Annual Burger Brawl is a Go

Thursday, April 18th, 2013

Burger Brawl logoRob Wasserman, owner of Rouge, 500 Degrees and The Saint James, has announced the Third Annual Philadelphia Burger Brawl is officially on this year. The event will be held on Sunday, May 5, 2013, from 3:00 to 6:00 p.m. at the Fleisher Art Memorial in Queen Village.

The Brawl was founded in 2011 by Rob and his wife Maggie to benefit the construction of computer labs in elementary schools throughout Philly. The first two events funded a computer lab in the William M. Meredith Elementary School. The Third Burger Brawl (and any Brawl in the future) will award computer labs to Philadelphia public schools on a needs basis that allows principals to vie for the award.

With more than twenty of the city’s top burger chefs set to compete to see whose burger is best, the event is expected to raise quite a bit of cash and plenty of sponsorships. More than 700 attendees are expected, and Mr. Marc Summers will be emcee.

This year’s Brawl participants include:

  • Alla Spina
  • Barbuzzo
  • Butcher and Singer
  • The Capital Grille
  • The Corner
  • The Dandelion
  • Ela
  • Good Dog Bar
  • The Industry
  • Kennett
  • London Grill
  • Lucky’s Last Chance
  • Misconduct Tavern
  • Miss Rachel’s Pantry
  • Percy Street Barbecue
  • Shake Shack
  • Silk City
  • South Philadelphia Tap Room
  • Spencer ETA Burger
  • Table 31

Tickets are $75 each and include burger tastings from all participating restaurants, cocktails from Jim Beam, beer tastings from Dogfish Head brewery, Rita’s Water Ice, Krispy Kreme doughnuts and more. Tickets are available here. Hurry up, the event is expected to sell out quickly.

 

Millionaires’ Row, 2012 Edition

Friday, April 5th, 2013
1706 Rittenhouse Square

Fabulous million-dollar residences? Sure, we have ‘em. 1706 Rittenhouse Square, for instance, is full of ‘em. But other cities have even more.

We’ve noted before that among East Coast cities, Philadelphia stands out for its affordability. We’ve even offered at least one possible reason why over on our sister blog. Here’s another: There aren’t a lot of insanely rich folks buying super-luxurious houses here.

While we’ve featured some fantastic million-dollar-plus homes on our sites, most of what we sell is far more moderately priced. And judging from the latest Coldwell Banker Luxury Market Report, produced by Coldwell Banker Previews International, that statement applies to most Philadelphia-area real estate agents. Philly didn’t even crack the list of the top 10 cities for sales of homes priced at $1 million or greater. Those cities, with total sales for 2012, are:

  1. New York (Manhattan), 2,382
  2. Los Angeles, 1,533
  3. San Francisco, 1,507
  4. The Hamptons (Long Island), N.Y., 963
  5. Miami, 790
  6. Chicago, 713
  7. Naples, Fla., 651
  8. Washington, D.C., 646
  9. San Jose, Calif., 589
  10. Newport Beach, Calif., 561

Of course, there are plenty of luxurious residences in certain local zip codes: 19103, 19106, 19118 and especially 19035 immediately spring to mind.  But most of what gets built and sold here is more within your reach.

Fannie Mae Posts Record Profit in 2012

Wednesday, April 3rd, 2013
Single-family house

Fewer bad loans and reduced foreclosure losses contributed to Fannie Mae’s rebound to record profitability in 2012.

In another sign that the housing market turnaround is beginning to lift many more boats, mortgage guarantor Fannie Mae reported yesterday that it earned a record $7.6 billion in the fourth quarter of 2012 and $17.2 billion for the year.

Fannie Mae’s turnaround enabled the government-sponsored enterprise to pay $11.6 billion in dividends to the U.S. Treasury last year. In the last quarter, it made a $4.2 billion dividend payment on the government’s $187.5 billion investment in the company and sibling Freddie Mac. The dividends count as a return on the investment and not as repayment of the bailout money.

Since entering government conservatorship in 2008, Fannie and Freddie have paid $65.2 billion in dividends to the U.S. government. Under an agreement with the U.S. Treasury that went into effect this year, the two companies can retain only $3 billion in net worth, with any assets beyond that amount going to the Treasury.

Bloomberg News quotes Fannie May President and Chief Executive Officer Timothy J. Mayopoulos saying in a telephone conference call with reporters, “We expect to remain profitable for the foreseeable future. It’s a very good thing for taxpayers, but there’s still an important task in front of policy makers to determine what structure they want to have for the future housing finance system, what institutions they want to have playing the various roles in that system and then figuring out how to attract private capital.”

When Fannie and Freddie collapsed under the weight of underwater mortgages after the housing market bubble burst in 2008, government regulators did not map out a path to independence for the companies, as they assumed Congress would liquidate and replace them before they returned to profitability. Yesterday’s announcement raises the possiblity that a different future for Fannie and Freddie may be at hand, one in which they may continue to play a role in the nation’s housing finance system.

The profits come on the heels of a $16.9 billion loss in 2011. Analysts attribute the dramatic turnaround to a shrinking portfolio of bad loans and lower losses from sales of homes in foreclosure.

 

Three Tips to Avoid Online Rental Scams

Tuesday, March 26th, 2013
Craigslist scam message

If an apartment listing on Craigslist sounds too good to be true, it probably is. Here are some tips on how both renters and landlords can avoid being taken in by rental scams.

With classified websites like Craigslist becoming one of the most popular ways to advertise or search for a rental property, online rental scammers have become more and more prominent. Falling for a rental scam can end up costing you thousands of dollars and can even result in identity theft. Whether you’re seeking a new place to live, or listing your property for rent, follow these tips to recognize a phony listing or renter and avoid becoming the victim of a rental scammer.

1. Remember: If it seems too good to be true, it probably is.
Scammers list rental properties for hundreds of dollars less than similar properties in the area, often with real addresses and photos copied from legitimate listings. Or they’ll answer a listing offering to rent a property sight unseen. The golden rule of Craigslist is to only deal locally and in person. Be sure to meet with anyone you deal with online and investigate their credentials before doing business.

2. Get everything in writing.
Never agree to make a deposit on a rental without first signing a lease. The person showing you the property may not even have a legal right to rent it to you, and may end up making off with your deposit and leaving you without a place to live. You should also never agree to rent out a property without meeting with the renter to sign the lease. Scammers will often claim to be out of the country and offer to make a deposit by cashier’s check, only to later back out of the agreement and request a portion of the deposit back. The check will bounce, but not until after you’ve cashed it, leaving you with high bank fees and a negative balance while the scammer disappears with your money.

3. Never send personal information through the Internet.
If you reply to a listing and are asked to fill out an online credit check before seeing the property, delete the message and move on. Scammers will use fake credit checks to retrieve your personal information, like your social security number and bank account information, to steal your money and even your identity. It’s best to never click on any links sent to you through Craigslist, unless you can verify the website to which they lead. You should always insist on meeting in person to view the rental and fill out any necessary paperwork. You should also research the property to ensure that the person you’re meeting is the real owner or manager.

The bottom line is you should always know who you’re dealing with when renting a property listed on Craigslist, or listing a property for rent. Avoid deals that seem too good to be true, only deal in person, and get everything in writing. If you’re moving to another city or state, experts recommend you only deal with a licensed agent to avoid being scammed. Follow these tips and you can protect your money, and your identity, from online scammers.

2013 Mural Tours Season Unveiled

Friday, March 22nd, 2013
Mural Tours

The Mural Arts Program’s tours showcase some of the best of the 3,600 murals on walls all across the city.

The Mural Arts Program has officially unrolled its 2013 Mural Tours Season for the spring and summer, a huge variety of tours that gives folks the chance to see and experience the country’s largest mural program with 3,600 murals dotting the Philly landscape. Officially beginning in April, additions for the year include new tour routes, interacting with working muralists, and specialty tours.

The new tours will show off some of the newer murals as well as the original classic public art pieces. The tours, which will be experienced by trolley, are called: “Mural Arts Masterpieces” and “Mural Arts New Works.” They join numerous other walking, biking, and trolley tours that give users the opportunity to explore Philadelphia’s neighborhoods off the beaten track where most visitors don’t venture. Also, monthly one-time specialty tours have been added to the 2013 schedule.

Advanced reservations are strongly recommended but not required.  Tickets are available online at www.muralarts.org or by phone at 215-925-3633. For private group tours and specialty tours, please call 215-925-3633×10.

 

Philly Home Buyers May Be Eligible for Transfer Tax Refunds

Tuesday, March 5th, 2013

If you purchased a home in Philadelphia after last June 30, you could be one of the Philly home buyers eligible for a refund of some of your real estate transfer taxes.

Like property taxes (up until the implementation of the Actual Value Initiative), Philadelphia’s real estate transfer tax rate relies on a figure set by the Commonwealth known as the Common Level Ratio Factor (CLRF), a percentage of the assessed property value. That figure for 2012-13 was released only recently.

The CRLF set by the State Tax Equalization Board for the 2013 tax year, which began last July 1 and ends on June 30, is 3.27, which is lower than the estimated figure of 3.97 the city used to set the tax rate. This means that anyone who has purchased a home from July 1 forward is entitled to a refund of the excess tax paid.

If this describes you, you may obtain that refund by filing a claim with the Pennsylvania Department of Revenue (for the state’s portion of the tax) and the Philadelphia Revenue Department. Claims must be filed within three years of the date you paid the tax. State refund application forms are available online at the Pennsylvania Department of Revenue’s website forms page; use the refund petition found on the Philadelphia Revenue Department website to obtain a refund of the city tax.

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