Zakiyyah Newman- Philadelphia Realtor (Philadelphia Real Estate)

How can you not afford to buy in this market? Bad credit but have good income? Let's make a plan that will help you restore your credit standing in 3 months or less.

Here are just a few reasons why buying now is better than not:

• Mortgage Interest Rates are Low!
• Great opportunity to find a home paying just as much or even less than your current monthly rent.

Ex: Did you know $750 per month can afford you a $100K home?

• Buying a home is forced savings! Why not pay yourself and build equity, instead of helping your landlord build equity?
• Purchase a home with a low down payment. You need as little as 3.5% of the purchase price of your new home.

Ex: $3500 needed to purchase a home for $100K and less if the home is priced lower!

• State Grant is available to those who qualify, which will help with closing costs.
• A full 6% seller's assist may be obtained, which can drastically reduce your closing costs.

Gentrification, historically and loosely known as the act of the wealthy displacing long term, low income residents in any particular neighborhood where redevelopment looks promising and current conditions for the residents grim. Gentrification, no doubt builds a community by attracting investors and developers who build homes, retail shops, and restaurants to lure in wealthier homeowners.

Sounds great, right? Well although building wealth in a community sounds promising; it often leaves out the residents that have long called their neighborhood home. These homeowners can be offered double for what they paid for their home, sometimes even more by a snazzy and aggressive real estate investor who shows up on their door step and promises the sum in cash and a quick settlement in just a week. It's often a take it or leave it deal, to build up a good deal of anxiety in the homeowner. But if they don't take it...they'll be back.

Sure a bulk load of money promised to a family who is just making ends meet, and has dreams of a better life is quite tempting. True the home in which they reside may be crumbling and the block in which they stay is riddled with blight, however in that blight they share the same dreams, and want the same things as those wealthy investors...a safer, cleaner, and prosperous community.

I'll throw the question out there, where does a family go with $40K, $50K or even $100K in cash? Do they buy back into the neighborhood where their recent home was extensively rehabbed and is on the market for 5x's what they originally paid for it? See they either owned their home out right or had a small mortgage paying a couple of hundred dollars a month. A $100K in retrospect is a lot of money but not really if someone is depending to live on that alone for a lifetime and unfortunately people who are eagerly pushed out of these neighborhoods due to gentrification are not seeking expert financial advice.

Gentrification increases property value drastically, many times by a 100% or more. The effect that it has on long term home owners, is an increase in real estate taxes as seen in popular cities throughout the country, notably Harlem, NY during the 1980's and even more so after the unveiling that Former President Clinton would locate his office there. A sharp surge of new business's and residential developments to accommodate a higher demand of residents flocked in to secure real estate, in a place where years before these new inhabitants had only referenced Harlem with "The Apollo Theater" and "The Harlem Renaissance".

Locally, in Philadelphia gentrification in the last decade, and in recent years has taken place in Bella Vista, Graduate Hospital, Northern Liberties, and growing concerns by residents are seen and heard in Brewery town, Francisville, and the southern tip of Kensington, closest to Northern Liberties for fear that they'll be displaced. These residents welcome new development and opportunity but not at the cost of their home. There is growing concern, that they will loose their voice and be overshadowed. It begs the question, can gentrification be established with the support and ideas from the people of a neighborhood in collaboration with the investors and developers who want to establish and build prolonged financial growth. And if that answer is yes, would that abolish the term "Gentrification"? In Rittenhouse Square, the wealthiest neighborhood in Philadelphia, this very thing happens; where developers and investors can't build shop without a significant input and granted permissions from the people of that neighborhood. We can understand the resaons why, wealth and education are just two reasons but do they lack any less enthusiasm or commitment for their neighborhood, than a low-income, high-school educated resident of Kensington?

No matter what your opinion of Gentrification is, it is most definitely the PR(Public Relations) of all PR, it takes a familiar and unlikely place and explodes it into "The Place" to live, work, and play.

Be a little closer to transportation. Make your trek into work that much easier, all while residing in a low key neighborhood. Just 2 blocks from a transportation HUB, for the Septa Regional Rails and the Subway Line. This home has had only two owners since it's existence. There are original hardwood floors throughout the home that make it a wonderful find. The current home owner has taken such pride in his home, making sure to maintain the mechanics of the house and the overall wears and tears. You'll find yourself walking through an inviting, and warm home, and it smells good too:). It is priced at $115K, with 3 Bedrooms, 1 1/2 Bath, and a 1 Car garage. Make your appointment today!

View Photo Gallery

Many First Time Home Buyers have begun to spring into action to take advantage of the $8,000 tax credit or 10% of the purchase price whichever is lesser. Home Buyers who qualify can not have owned a residence in the past 3yrs, this means that a buyer could not have been listed on a deed in the last 3yrs.

The tax credit has also been granted to current home owners. This tax credit is in the amount of $6500, or 10% of the purchase price whichever is lesser. Buyers in this case have had to own a residence consecutively for 5yrs in the last 8yrs. A home owner does not have to buy up to qualify, meaning they do not have to purchase a home more than their current home is worth.

Buyer's do have to be under contract to purchase a new home by April 30th, 2010 and the deal will have to be closed by June 30th. This tax credit is extended to June 30th, 2011 for anyone who has served in the Military for at least 90 days.

This a great time to buy, and with the tax season ending what better way to use your refund check than investing in a dream!

For More Information on Tax Benefits Visit www.IRS.gov

As if the Re/Max Brand wasn't already such a stable in communities nationwide and in more than 70 other countries, it's enormous contributing impact to the CHILDREN'S MIRACLE NETWORK in the past 18yrs has reached $100 Million Dollars. Re/Max has now become one of three top contributors of all time to the fund. Out of the $100 Million raised in 18yrs, $7 million was raised in 2009 alone. That is exciting news for the company, it's agents who with every closed transaction donate to the CHILDREN'S MIRACLE NETWORK, and to the children and their families it benefits.

CHILDREN'S MIRACLE NETWORK makes it possible for children who are severely ill to receive the best medical care possible, and most importantly they are not turned away for any reason. The CHILDREN'S MIRACLE NETWORK is a non-profit organization that funds over 170 pediatric hospitals, and treat over 17 million children a year.

To get involved in this awarding cause click here, CHILDREN'S MIRACLE NETWORK.