Hearthside Happenings

State DCED Grants Tax Credits to Six Philly Real Estate Projects

$600,000 in tax credits for real estate professionals involved in redevelopment plans of historical Philly buildings.
Posted by Joe Carelli on July 22, 2019 in  coldwell banker  coldwell banker hearthside  industry news  news  pennsylvania  Philadelphia  real estate  real estate industry  tax credits
Governor Tom Wolf's administration released information about new tax credits that will provide 600,000 dollars in financial assistance to the real estate professionals involved in redevelopment plans for six Philadelphia historical buildings.  Pennsylvania's Department of Community and Economic Development, along with the Pennsylvania Historical and Museum Commission, announced the six tax credits after more than 40 developers and real estate professionals applied for more than 15 million in grants for the 2... read more
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Market Update: June 2019

Real Estate Market Update for Philly, Bucks, Lehigh Valley and Montgomery County
Posted by Joe Carelli on July 18, 2019 in  bucks county  coldwell banker  coldwell banker hearthside  lehigh valley  market update  Montgomery County  northeast philadelphia  real estate  real estate industry
June 2019 Market Update Its summertime, the kids are home from school, vacations are planned and the AC is working overtime. While the weather has been hot, let’s take a look and see if the real estate market is seeing similar trends. WHAT’S HAPPENING NOW  “Inventory continues to dominate the conversation when looking at the market. This has been an ongoing talking point for the past two years for buyers and sellers. We are seeing however that the pace of inventory has declined compared to ... read more
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May brought spring into full-swing and had kids looking forward to the summer. Many spent their days revitalizing their gardens and opening the pool for the season. With everyone looking forward to summer vacations and plans let’s look back at the market for the month of May.   WHAT’S HAPPENING NOW  “Inventory shortage continues to be a highlight when discussing the market. The rate of decline is narrowing when compared to the trends we saw in both 2017 and 2018” stated Jamie Manc... read more
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The Philly Fashion District: What You Need To Know

The Philly Fashion District is set to open Sept. 2019 bringing a wealth of new business to the area.
Posted by Joe Carelli on June 17, 2019 in  Attractions  Commercial  Fashion District  pennsylvania  Philadelphia  Philly  Real Estate  real estate industry
Philly's former Gallery Mall has been reborn as the Philadelphia Fashion District. The renewed area is under development by the Pennsylvania Real Estate Investment Trust (PREIT) and will feature a diverse collection of local and homegrown businesses, like Dolly's Boutique, South Fellini, and American Hats. The new space will house close to 5,000 sq feet of retail space on the concourse level of the development. Working with PREIT to develop the space is the California-based real estate development firm Macerich. ... read more
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Low Housing Stock is Fueling Philadelphia Bidding Wars

What effect is low housing stock having on Philadelphia bidding wars?
Posted by Joe Carelli on May 22, 2019 in  housing  pa  pennsylvania  Philadelphia  Philly  real estate  real estate industry  Trends
This past October, many in the real estate industry were worried about the state of the real estate market. After a national building boom that has lasted for more than 7 years, many in the business were wary of a slowdown. During the fall of last year, mortgage rates hit 7-year highs, price appreciation was suffering, and total home sales declined. Despite all of these issues- Philadelphia and some surrounding areas hit record numbers for homes sold. To add a cherry on top sold prices climbed by 4.2 percent durin... read more
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