Hearthside Happenings

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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How Recent Lehigh Valley Economic Growth Will Affect Housing Prices

Lehigh Valley ranks among the top 5 fastest growing regions in the US, how will economic growth affect home prices?
Posted by Joe Carelli on May 09, 2019 in  economy  industry news  lehigh valley  pennsylvania  real estate  Real Estate Market  Trends
How Recent Lehigh Valley Economic Growth Will Affect Housing Prices Site Selection Magazine recently reported that the Lehigh Valley ranks among the top 5 fastest growing regions in the United States with less than 1 million people. This area has developed a great deal over the past 2 decades and is in a much better financial position than at any time in recent memory. What many residents are wondering is: How will economic growth in the Lehigh Valley affect home prices? What is Driving Lehigh Valley Economic Gro... read more
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How Opportunity Zones Will Change the Philadelphia Real Estate Market

In 2017 Congress passed the TCJA impacting the future of Philadelphia's Real Estate Market.
Posted by Joe Carelli on May 04, 2019 in  Brewerytown  Francisville  industry news  Kensington  Opportunity Zones  Philadelphia  Philly  Real Estate Market  Tax Cuts and Job Acts of 2017  Trends
In 2017 Congress passed the TCJA, or Tax Cuts and Jobs Act of 2017. This wide-ranging legislation affected many industries, but the real estate sector saw some of the most significant changes. The bill called for the creation of real estate "Opportunity Zones."  These zones are underdeveloped areas where the federal government plans to deploy tax benefits to developers and investors to encourage economic growth in low-income communities. Philadelphia has several new opportunity zone projects that have already... read more
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