Yesterday Stephanie and I met with our new tenants for one of our investment properties in Philadelphia. It was a little unusual for these tenants sublet from our prior tenants so we met to go over a new lease.
The people we met were so nice, courteous and friendly. We took a tour of the property and were amazed. It was in better condition than when the first tenants moved in. They were very neat and painted some of the walls very nice colors. The property almost looked staged in a way as if we were putting it on the market !!
I left the meeting with a feeling of pride. It certainly feels great to be able to provide quality housing to great people. I think that is one of the intangible benefits that investors forget about. Investors are always crunching the numbers, looking at the cash flow analysis and their own wallets per se as what to fix up now versus later and so forth.
It is important though to not forget what we are really doing - providing housing ! The bottom line is that the better product that is provided, the better quality of tenant you will have - and potentially a higher rent amount as well. Which is why we are always attentive to our tenant's needs as well as the properties' needs too !
By the way, this is an excellent time in this market to acquire an investment property or two (or three) in our Philadelphia marketplace.
If interested in buying or selling investment properties in Philadelphia, please contact Chris and Stephanie Somers at 215-400-2612 or thesomersteam@yahoo.com
Philadelphia Real Estate Philadelphia Real Estate Blog
Related Posts:
We all know that there is excess inventory in the Housing Market and until the supply / demand ratios 
turn all of our markets will continue to face headwinds. Well I have the solution for a quick and fast rebound and it will not cost the Federal Government billions of dollars that they spent with the Housing Bill.
My solution is simple AND free:
Every single Realtor including myself should go through their inventory this week and withdrawl 10 to 20 percent of their listings from their respective MLS ! Every single seller who knows that they are not living in reality and that their house will never sell should call their realtor and save us all and take their property off the market !
Radical you say ? Hardly ! We all know that many of us have severely overpriced listings that will never sell. And even if an offer comes in, the seller is not willing to negotiate because they are either extremely unmotivated or owes too much on the property that they cannot sell. Or even if some uneducated buyer wrote an offer, it would never come close to appraising !
I have read so many posts of agents submitting reasonable and strong offers on properties only to find that the counter offer of a "seller" might be $1,000 lower for a property that has been on the market 6 months !!! I say enough ! This is as much the Realtors fault as it is the sellers as we are agreeing to clog up more inventory by taking these overpriced listings to begin with. The more of these that are out there, the greater amount of houses that are on the market and the more it drags the entire market down as well as wasting everybody's time and effort.
So who is with me ?
All of those unmotivated sellers should just move on, go FSBO and the realtors can remove the huge excess of inventory immediately which would immediately spur a more competitive and healthy housing market !!!
How hard is that ?
Philadelphia Real Estate Philadelphia Real Estate Blog
"Every moment is a moment." Stephanie Somers
Today Stephanie and I took a few hours break in the whacky world of Philadelphia Real Estate. For the third time this summer, we took a walk across the Ben Franklin Bridge which is amazing.
Below are 4 photos I took on our journey:
1. The Ben Franklin Kite - which is at the base of the Ben Franklin Bridge
2. A lovely view of I-95 and Old City... from a distance there are the River Church condos in Old City which we have listed !
3. An awesome vew of Center City
4. A savoury drink at N 3rd Restaurant in Northern Liberties after a long walk !
Today was a nice way to enjoy a few hours of the last of the summer !
Philadelphia Real Estate The Philadelphia Real Estate Blog
From the NLNA:
Please join us for the August NLNA Zoning Committee Meetings.
The committee consists of 15 volunteers, and the meetings are open to the public.
NLNA Zoning Committee Meetings Monday and Tuesday, August 25 and 26 7:00PM, NLNA Office 700 N. 3rd St.
Zoning Committee Meeting 700 N. 3rd St. NLNA Office
AGENDA Monday 8/25/08
7:00 - 7:10 - updates-minutes
7:10 - 7:50 - Ed Fink - 1130-32 N. Bodine St. - R10 - Presentation for two single family dwellings with pilot house and under-sized rear yards
7:50 - 8:50 - Brian Phillips - 632-34 N. 5th St. (5th & Fairmount Ave. SW corner) - L4 - Proposal for a 5 story building with 130 units and 130 parking spaces.
8:50 - 9:30 - Joe Volpe - 932 N. Hancock St. - R10 - Proposal to use site for creating flower arrangements to be used at Cescaphe.
9:30 -9:50 - Frank Passio - Front & Fairmount - (SW corner) - Return visit to respond to Committee's CLA provisions regarding proposal for restaurant/bar .www.2ndstreetannies.com
Old Business
New Business
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AGENDA Tuesday 8/26/08
7:10 - 9:00 - Schmidt's - 2nd & Girard - Return visit - To review presentation for mixed use commercial and residential - specifically, 600 residential units and 170,000 sq ft of retail - presented by Maxwell Pau and Richard Metzge - architectural firm http://www.beyerblinderbelle.com.
We had a listing appointment on Monday where everything was going great. I had great rapport with the potential sellers, a fantastic Q&A session answering all the questions regarding pricing, strategy, marketing, advertising, our experience and so forth. I was on fire ! Then a final question was asked by the husband:
Are you excited to sell my house ?
I almost froze on the question and thought "Oh my God - am I excited ? Am I not excited ?" I have not froze on a question on a listing appointment in years !! But I took a moment and smiled. I remembered that this is what it is all about. Helping people accomplish their goals, being part of their lives, and really being excited and feeling honor and pride that you are the one that they are choosing to help them with one of the most important decisions in their lives ! This process will net them the most amount of proceeds and help them move foward in their lives and you are a part of it !
I found myself thinking for a moment, wow... I have been caught up in the details, some of the drainers and being drained in the tough real estate market. Sometimes I worry about all the things that could go wrong or look at the fact of why did we not get a certain listing... Instead of focusing on all the positive things which they are numerous. It really is all about perspective and gratitude.
I answered his question, "Yes I am pumped up to sell your property ! " That is what we do !!!
We just listed the property last night and we look foward to selling it for them. It makes me happy to be able to see the big picture and not get totally lost in all the clouds and confusion of the tough real estate market. Remember when you first started and got your first listing ? Or your second ? Or closed your first deal ? Or had your first settlement ? Or accomplished that first milestone ?
It is important to maintain that energy and excitement - that attidue of excellence and vibrancy. It shows and it is important not only to success, but to ones inner soul as well.
Are you excited to sell your client's house today ?
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Please visit our website at: www.thesomersteam.com to view more information about us, our listings and the thriving Philadelphia market.
About Us
Chris Somers
After working as a financial consultant with Oppenheimer for 7 years, and having also held positions with Deloitte and Touche and the Federal Government, Christopher Somers decided it was time to pursue a new challenge. He united forces with his wife Stephanie, a Philadelphia native, former Art Teacher turned business owner, to engage in a career in real estate. Focused on protecting their clients' wealth in every real estate transaction, the Somers have quickly gained recognition in their market segment.
Chris' education background and previous work experience have significantly contributed to his success as a Realtor. Clients benefit from his aggressive negotiating skills, extensive market knowledge, and financial expertise.
Featured on RE/MAX Times Online
Chris Somer's blog article entitled Plan Now to Jump Start Your 2009 Production can now be seen on the online edition of The RE/MAX Times. It is not too often that an Associate will receive a phone call from RE/MAX International congratulating for a well-written blog post and requesting approval to have it posted on their premier online publication.
Updated weekly, RE/MAX Times online edition provides all 100,000 Associates worldwide with the latest industry news, tips from top producers, coaching, business and marketing stories, and more. Chris' article provides very insightful tips for other Associates on how to achieve success in today's market, and explains why his blog has continuously generated interest and participation from the community. Whether you are a Buyer or Seller, you are encouraged to read the blog and participate in the discussions. You can also sign up to receive weekly email updates.
Stephanie Somers
Drive, enthusiasm and a very dynamic style of doing business are just a few of the words Stephanie's clients use to describe her. Before joining her husband Chris in their exciting Real Estate business, she studied and taught Arts in Center City, earned an advanced degree in natural health and nutrition, launched a business that rapidly grew from one location to various ones in Bucks and Montgomery counties, and took the challenge of expanding a private company's business overseas.
Stephanie's experience as an educator and a business entrepreneur, coupled with her organization skills and attention to detail, makes her a valuable asset to the business. She proudly wears as many hats as needed and keeps the entire team motivated to become top producing agents on a daily basis. A Realtor very seriously dedicated to the profession, Stephanie also acts as the teams manager, marketing assistant, help desk and business coach.
By knowing how to best leverage their strengths, and how to match their expertise with their client's objectives, Chris and Stephanie deliver a winning action plan.
For more information about us, visit our social networking sites:
AWARDS:
2008 Awards
Chris Somers is now a member of the prestigious RE/MAX International Hall of Fame. The coveted Hall of Fame Award is only given to Associates with more than $35 million in closed sales volume in real estate transactions since joining RE/MAX. Less than three percent of all RE/MAX Associates worldwide earned this esteemed award this year. Once inducted, the Associate becomes a lifetime Hall of Fame member.
Top 20 Individual Sales Associates AwardMonthRank
This recognition is awarded to the Top Producing Real Estate Agents year-to-date in the RE/MAX Pennsylvania and Deleware Region.
September 2008 12th August 2008 16th July 2008 12th June 2008 15th May 2008 8th April 2008 7th March 2008 4th February 2008 14th January 2008 7thOther awards received in 2008 include:
Other awards received in 2007 include:
Philadelphia, Northern Liberties, Old City, Center City, Art Museum, Fishtown, Olde Kensington, Loft District, Pennsport, Port Richmond, Bridesburg, Northeast Philadelphia, Graduate Hospital, Society Hill, condos, condominiums, new construction.
We specialize in buyer and seller agency in Philadelphia. Getting a property sold in this market is much more challenging. However, our marketing and advertising strategy is always intensive and aggressive to accomplish the goals.
What it takes to get your house sold
Not too long ago, listing a home on the MLS, putting a lock box on the door knob, and sticking a For Sale sign on the front yard was all it used to take to get homes sold. Though the Philadelphia region is still doing fairly well in comparison to the rest of the country, currently there is a large inventory of houses for sale and the time on the market doubled over the last year. This is good news for buyers but not so good news for sellers who may still be convinced they can sell their properties just as fast as their neighbors did two years ago.
It takes a well-conceived marketing plan to get houses sold these days and this is exactly the approach we take with every client. It ultimately boils down to pricing it right, creating the maximum amount of exposure in the market through innovative marketing tactics, and making sure the house shows well. With so much to choose from, buyers are picky and almost always look for properties that are move-in ready. You can read more about getting your house ready for sale in our Resources section.
"I have bought and sold several properties over the years with Chris and Stephanie. The aspect that makes them outstanding is that they live and breathe real estate. They take the time to teach me and are an asset to helping me achieve my goals" Ken Lawall
"Chris and Stephanie's immediate follow-through sets them apart as real estate professionals" Steve Scuron
"The Somers provided attention to detail - both small and large. They allowed our buying process to go off without a hitch." Andres Gomez
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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