At last! the much anticipated changes to the the first-time homebuyer tax credit are in.
The most noticable difference from the last $7500 tax credit is that it does not require repayment if the house is not sold within 3 years.
Beginning January 1, 2009 until December 1, 2009 first-time homebuyers will be lucky enough to get this boost from the government.
See the updates in writing here.
Ready to buy? You'd be smart not to wait. After all, it's a buyer's market, rates are down and you're getting a "rebate." Renting just got so much more expensive this year.
Search the MLS and see every home for sale on the Map! www.SmartGirlsOwn.com
Call the McCarthy Group at 215-757-6100 ext. 173
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Q: There is a home for sale on my block in Castor Gardens that says it's a "short sale," and my son would like to buy it. Does that mean it will be a fast settlement, and can my son offer less than the owner is asking?
A: Selling a home through a "short sale" means that the homeowner owes more on his mortgage loan than the price he is realistically able to sell it today. Either the homeowner is behind on his mortgage payments or is facing a hardship and is trying to avoid foreclosure by selling the home. A successful sale of this property would be "shorting" the mortgage lender what is owed on the mortgage. Despite the name "short sale," it is normally not a short process...
Read all here: Real NEastate: Short Sale in Castor Gardens « NEastPhilly.com
Stacey McCarthy is a real estate agent with the McCarthy Group of Keller Williams Real Esate. Her Real NEastate column appears on NEastPhilly.com every Wednesday.
Parkwood Year-End Home Sale Report for 2008
The average sold price was $189,000 in 2008
We are currently back down to 2005 prices in value. 2006 and 2007 were an all time high for Parkwood.
In 2008 home values dropped 3.5% from 2007, which was the highest average sold prices of all time at $196,000.
The number of sales slipped 14% in 2008 with 82 Parkwood homes sold down from 96 in 2007. The highest number of homes sold was in 2004 at 122.
6% of homes that sold last year were forclosures in Parkwood which affected the average value.
Looking forward we should expect home prices in our neighborhood to continue to fall through 2009, stabilizing in 2010. This is due to the projected forclosures this year.
*This information is based strictly on row homes in Parkwood. No single homes, townhomes, or condos were used in this analysis. Homes sold that were not labled in the Multiple Listing Service as Parkwood were not used in this analysis, so there may be a small margin of error.
Christmas really is for the kids but adults may enjoy a few things on this short list. This is not everything that the Philadelphia area has to offer for the holidays, it's just a few.
1. The Holiday Light Show at Wanamakers: Across from City Hall on Market Street, you find the Wanamaker Building. It's Macy's now, and every hour on the hour you can see the Christmas light show. Started in 1956, it still draws a crowd of parents and children to marvel at Julie Andrews telling short holiday stories and the blinking light show set to holiday music. Not so high tech, but high in holiday spirit. It is an absolute MUST do for children. Even though it is officially Macy's, it will always be Wanamaker's to Philadelphians.
Hint: While you're in Macy's if you have some time and want to see Santa, be prepared to wait. But at least the wait is a little less dull with the Dickens town, the old Litt Brother's display of moving figures of Charles Dickens' Christmas Carol. Over 100,000 people (kids and adults) visit Macy's Santa each season!
2. New! Christmas Villiage at Dillworth Plaza: The German American Marketing group and the City of Philadelphia set up over 50 vendors to form a medieval village selling European food, sweets and drinks, international seasonal holiday gifts, ornaments and high quality arts and crafts. Located at Dillworth Plaza - outside City Hall on 15th Street. Yummy, yummy German food, barvarian pretzels and so many crafts that you can finish your holiday shopping!
Hint: Santa is at City Hall too - daily from 11:00 am until 8:00 pm!
3. New! The Comcast Center Holiday Spectacular: Another MUST SEE! Enter the Comcast building, the tallest in Philadelphia at 17th and JFK and you will encounter a group on onlookers staring at the paneling. At first, you wonder what the heck is going on, but every hour Comcast produces their version of Holiday Lights, the high tech version. The paneling is really a gigantic hi
gh definition tv screen made to look like paneling. While you are still trying to figure out what is going on, the wall changes to a scene of light bulbs set to holiday music, a sleigh ride through the snow, a nutcracker dance (that shows every wrinkle on the Sugar Plum fairy's face even though she look's like she's about 20), and Santa Clause traveling over the Philadelphia skyline at night. It's so high def and realistic and the music really puts you in the holiday spirit. Plus Comcast owes you for how much you spend on TV every year!
4. Shadybrook Farm Holiday Drive-Through Light Show: Just of the Yardley/Newtown Exit of I-95, experience the magic of millions of lights illuminating acres of farmland during Shadybrook Farm's Holiday Light Show! This is the coolest experience for lazy people! Drive through in the comfort of your own car or enjoy the show on a moonlit hayride. Drive-thru open Nov. 26 2008 through Jan. 4, 2009 from Dusk to 10 PM. Hayride open Nov. 28 to Dec. 23, & Dec. 26 - Dec. 30 from 6 to 8 PM. Pack the car with the neighbor's kids too. A carload is $20, but you can find coupons online: http://www.shadybrookfarm.com/wintercoupons.php. The Holiday Light Show benefits the Salvation Army, St. Mary Medical Center, & the MS Society.
Hint: While you're there, visit Santa's Village and the North Pole Adventure! Kids will delight in the holiday fun where they will encounter gift shops and Santa's Elves.
5. Holiday Shopping at Sesame Place: OK, it's technically not Philadelphia, it's in Langhorne, PA right near the Oxford Valley Mall and Keller Williams Real Estate Langhorne. Sick of seeing Santa, or don't celebrate Christmas? Get your children's holiday picture taken with Elmo or another Sesame Street Character. Not much else to do here but shop and ride the carosel, but there's no admission fee and it is always a kick for a kid to see Elmo. Open Saturday and Sunday from 10 AM to 2 PM.
Happy Holidays!
P.S. The child in the picture is my 4-year old son. You can't tell in the pictures, but he had a blast at ALL of these events, especially Sesame Place and Macy's. He just hates getting his picture taken sometimes. LOL
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The McCarthy Group: Realtors catering to smart women (and smart men too!) in Philadelphia and Lower Bucks County. Visit my webite, the "Smart Girl's Guide to Real Estate" at www.SmartGirlsOwn.com.
If you refer others to us, you have our heartfelt thanks. One of the highest forms of trust in business is sending friends and colleagues along to us. We know that your trust in us is hard-earned, and we pledge to take care of anyone you send our way.
Facebook: http://www.facebook.com/bigjoemccarthygroup
Twitter: @smartgirlsown @bigjoemccarthy
Full-time, full-service Realtors. Put Big Joe and Stacey to work for you!
I live in Northeast Philadelphia and I work at Keller Williams Real Estate in Langhorne with my husband, Joe who is also an agent. I have a 7-year old son, who is a real character and keeps me on my toes and laughing all the time.
Ten years ago, I was finally smart enough to learn that owning real estate is not only good for a place to live, but also to build wealth. I feel like "if I knew then what I know now," I would have bought some real estate much earlier instead of renting and throwing my money away. For years I wanted to buy my own place, but was afraid. I would like the opportunity to help some smart women into real estate.
I am very dedicated and tackle each transaction, treat each home, as if it were my own. In addition, I have stepped it up a notch as a certified eAgent and have the tech savvy necessary for today's real estate market.
Philly, Bucks, Bensalem, Andalusia, Langhorne, Levittown, Lower Makefield, Yardley, Newtown, Middletown, Pendel, Southampton, Feasterville, Northeast Philly, Parkwood, Philadelphia Condos, Mayfair, Rhawnhurst, Bustleton, Somerton, Parkwood, Torresdale, Holmesburg, Pennypack, Fox Chase, Morrell Park, Modena Park, Millbrook... We can move you where you want to go.
My Son, Ever
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About one-quarter of the nation's nearly 8 million single mothers spend more than half of their incomes on housing, compared with 1/10 of households headed by single fathers.
Sources: 2006 National Association of Realtors Profile of Home Buyers and Sellers
Know a Smart Girl?
"Buying a house is a huge investment. Stacey understood how I felt and took her time with me even though I must of looked at 20 houses. She helped me with everything from where to look to how to get the mortgage. Stacey made buying a house a pleasure instead of a anxiety-ridden chore."
~ Shirley Schingen, Philadelphia
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"I found myself selling my house under less than desirable circumstances, I was going through a divorce and needed to downsize. But my experience with Stacey was the best !! Throughout all my difficulties, having to make some repairs, and getting the paper work and legal materials together Stacey held my hand and helped me every step of the way. Even though it was not the best selling climate, she helped me arrange the best deal and gave me the greatest opportunities to show my house. And, when it was sold, she went out of her way to show me other homes so I could get settled in and start a whole new life. I can't say enough about how calming, supportive and helpful Stacey was. She made the whole process of selling and buying a home a wonderful experience."
~ Wendy Wolf, Montgomery County
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Stacey was available morning, noon and night and never tired of our first time home buyer questions. I reccomended Stacey to my brother, Her ability to work with other realtors and to schedule showings on our schedule was important to us. Stacey went the extra mile in showing us only the listings which met our needs.
~ Ryan T. Mulvey, Philadelphia
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Stacey was very patient, understanding, and flexible in finding a home that will meet the needs for a first time home buyer like myself. She was even so kind enough to recommend certain resources to make the home buying experience better. It was almost like having that crossing guard who guided you safely across the street when you were little, but instead she is someone who is safely guiding you in the whole home buying process. This results in a safe, reliable, and painless experience that any home buyer will appreciate and remember! Thanks Stacey!
~ Simon T., Philadelphia
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