Localism: Philadelphia, PA

A Great Synoposis of the Housing Market - a must see video !

Thu, 20 Nov 2008 06:18:41 -0600

Below is a video of some of the most fierce, smartest investors who got caught up in the housing market and their view of what to do now as it relates to the government bailouts !

This is a must see for anyone who follows the housing market - especially historians and economists.

A View on The Housing Market

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Philadelphia Real Estate - Chris and Stephanie Somers

The Philadelphia Real Estate Blog

Click here to receive our Blog updates via email !

NAR commercial focuses on building wealth: what do you think ?

Tue, 18 Nov 2008 20:45:58 -0600

Below is a recent video from the National Association of Realtors (NAR) that suggests that for the millions of folks that bought a house this year, the opportunity for them to build wealth over time is very high.

For those of you that have not seen it,

View NAR's recent commercial - It is only 30 seconds so don't be afraid to watch it !

What do you think of the messaging ? Do you agree with the message of wealth building ?

We do !!! Making smart investments over the long term can be the most profitable investment one can make in their life !

If interested in buying your first home in Philadelphia or in picking up investment properties in Philadelphia, contact Chris and Stephanie Somers at 215-400-2612 or thesomersteam@yahoo.com

Philly Investor Hub

Philadephia Real Estate - Chris and Stephanie Somers

The Philadelphia Real Estate Blog

Click here to receive our Blog updates via email !

Are you a member of NAREB? Are you a Realtist?

Tue, 18 Nov 2008 18:25:07 -0600

You should contact the Philadelphia Metropolitan Board of Realtist for membership information or visit www.PhillyMetroRealtist.org

Old City Condos - The Benefits of Staging: Before and After

Tue, 18 Nov 2008 18:00:33 -0600

Old City Real Estate - To stage or not to stage ?

Studies and statistics show that staged properties will sell not only faster than non-staged properties but also sell for a higher amount than non-staged properties ! With those facts alone, I'm sold !

However, when I first started in real estate, I was not as sold since the market was stronger. And often times, properties did not need to be staged since the supply / demand factors greatly benefited the seller. However, when the market started to turn, I began to learn from my wife Stephanie Somers the importance of having a staged property (neat and clean as a whistle) or at least have a property that was free of clutter.

So in the spring, when we sold one of our condos, it was a no-brainer to get it staged. Sure enough, we sold it fast and for a great price. And now, we just listed another condo in Old City. We have some before and after photos of the property vacant and the property staged. The vacant does not look too bad but all and all, the pictures really tell the story.

I will report back and say how long it took to go under contract and what the percentage of the selling price will be to the listing price. Or if we could not sell it at all and we ended up renting it.

The staging was done by Karen Miller - please check out her site - Karen Miller Transformations ! And her Active Rain blog ! Also, before it was staged, we had the property cleaned by Tidy Dwellings . They do a great job !

BEFORE PHOTOS

AFTER PHOTOS

The next time you have a property to stage, what will you do ?

If interested in buying or selling a property in Old City or in Philadelphia, contact Chris and Stephanie Somers at 215-400-2612 or thesomersteam@yahoo.com .

Philadelphia Real Estate - Chris and Stephanie Somers

The Philadelphia Real Estate Blog

Click here to receive our Blog updates via email !

Philadelphia, PA Foreclosure Market Trends

Tue, 18 Nov 2008 17:07:54 -0600

Nationwide Agent Network

Candis Pressley-Blackwood Trinity Real Estate 3212-16 W. Cheltenham Ave, Philadelphia, PA 19150 "Trinity Real Estate "Your Realtors For Life" My business philosophy is to treat each & every client as if they are the only clients we have. My goal is to provide prompt, professional service and keep"

Phone: 215-381-0774 Email: candis.pressley@trinityrealestate.net

October 2008 Vol 2 Issue 22

Download PDF File

6 month Pennsylvania Foreclosure Trends

NOD

NTS

NFS

LIS

REO

Search for Investment Properties>

PENNSYLVANIA FORECLOSURE ACTIVITY DOWN 15 PERCENT IN SEPTEMBER

Pennsylvania reported 4,189 properties with foreclosure filings in September, a 15 percent decrease from the previous month but 10 percent ahead of the level reported for September 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. "Although Pennsylvania foreclosures decreased in September, the numbers are still up from this time last year," said James J. Saccacio, chief executive officer of RealtyTrac. "Statistics show that the state's home sales decreased further than the national average during the past year. This, in addition to the overall decline in the housing market, is likely contributing to the rise." Complete Story

The Government Goes After Loan Officers

By Peter G. Miller

Few mortgage loan officers or underwriters have been held responsible for mortgages that turned sour, in some measure because blame is often difficult to establish. The result is that fees and commissions earned during the past few years have been virtually untouched, even as substantial numbers of lenders, investors and borrowers have failed. Now the immunity enjoyed by lenders may be at an end. A new and surprising player is looking at failed mortgages, and looking in a way which may suggest that many loan officers will have to pay up. Complete Story

Here are some of the most recent Investment opportunities in the area.

Pre-Foreclosure

W Montgomery Ave
Philadelphia,
PA 19131

Market Value
Default Amount
$45,000
N/A
Beds/Bath
Sq. FT
0/0
0

Property Type	Address	Market Value	Default	Sq. Ft.
Pre-Foreclosure	Pennsgrove St, Philadelphia, PA 19131	N/A	N/A	0	GET DETAILS
Bank-Owned	N Creighton St, Philadelphia, PA 19131	$3,900	N/A	0	GET DETAILS

View more properties in Philadelphia County

Is Now The Time To Buy Foreclosures?

Assets worth trillions of dollars have been wiped out in the past year, and it's difficult to look at investing in stocks or property and not wonder makes sense in such troubled times. It's often said that some of the most successful investments have been made by going against the grain, by selling when most are buying and vice versa. In the context of foreclosures, going against the grain now would mean buying while others are selling. Is there any sense to such a strategy? Not a guarantee of profits, but some lucid and reasonable case for such purchases? Complete Story

Foreclosure Trends : August, 2008

National		Pennsylvania	Philadelphia CTY
NODs	61,892	0	0
NTSs	69,693	25	3
NFSs	24,234	1,777	452
LISs	57,156	2,197	1,013
REOs	90,893	922	134

Notice of Default (NOD)A non-judicial document filed by a trustee that starts the foreclosure process. More about NOD

Lis Penden (LIS)Notification of pending lawsuit. A judicial document filed by an attorney or trustee that starts the foreclosure process. More about LIS

Auction / Notice of Trustee's Sale (NTS)A filing by notice announcing a public auction. More about NTS

Notice (Judgment) of Foreclosure Sale (NFS)An order signed by a judge directing to sell the property at public auction. More about NFS

Real Estate Owned (REO)The final step in foreclosure process in which property ownership returns to lender. More about REOs