2218 Martha St.

Featured Listing:


2218-20 Martha St.
Philadelphia, PA 19125


Description: Tucked in a bustling area with construction everywhere is a one of a kind home, rarely offered anywhere in Philadelphia. Enter this double wide converted warehouse into your soaring ceiling living room area, under the designer modern light reflecting off the exposed brick wall. Walk back under the modern fan co fan and steel beam to the step up bedroom which the owner uses as a dining room. To the right is the expansive kitchen with 6 burner stove, granite counters, island, and more. Full bath, garage, and ample closets also share the stained concrete first floor above the huge basement storage area. Upstairs beautiful original wood floors, exposed wood beams, brick, and huge windows await. A living/entertaining area here also has 1/2 bath, laundry room, and spiral staircase to pilot house and roof deck. Around the corner, continue to your office/studio area and on into the main bedroom with designer closet, 5 head oversized shower stall, jacuzzi tub.

Green features:
Dual zone electric heat pumps, low flow faucets



Green Tip of the Week:
When recycling plastic bottles, remember to rinse them out, remove caps, and crush them first before placing in your recycling bin. This will save room for more recyclables in the bin.



Increase Your Buyer Potential:
Rates are historically low right now! Since May, rates have dropped by 1% so now is a great time to search. Buyers could increase their buying potential by $25,000 when comparing between 4.5% and 5.5% rates. If buyers do not wish to increase their purchase price, they could save as much as $150 or more per month!


Single-Family - Philadelphia County

Settled Units
2008/2009 Change: -17.18%
2009/2010 Change: +13.35%

Total Settled Volume
2008/2009 Change: -21.05%
2009/2010 Change: +16.86%

Average Sale Price/Opening Price
2009/2010 Change: +1.04%
(Fire sale is ending... prices are stabilizing)


Condo - Philadelphia County

Settled Units
2008/2009 Change: -32.89%
2009/2010 Change: +25.67%

Total Settled Volume
2008/2009 Change: -34.82%
2009/2010 Change: +17.10%

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Rittenhouse Square Charm

This wonderful 3 bedroom house has a fully renovated first floor with reclaimed pine, custom designer kitchen, Bosch and Viking appliances and more. Upstairs features original pine floors, cherry blossom tree views, and a master suite with vaulted beamed ceilings complete with fireplace and huge storage loft.
Check it out!

Has The Real Estate Market Stablized?

Has the real estate market stabilized? That is the big question these days. Statistics may show this to be true but we cant gather them until time has passed and there is data to analyze. As of November 2009, the overall inventory accumulation for Philadelphia is 9.3 months, as opposed to 9.1 last year. What that means is this: IF not one more home were to be put onto the market, according to the current inventory of homes per sale, it would take 9.3 months to sell all of them. Is that good or bad? Well, it's kinda bad... 3-4 months would be much nicer. There is still too much stuff out there for sale so its still a Buyer's market in that regard. Next, the pricing gap from list to sale price has tightened up. A year ago, the average home sold for a mere 89% of what it was originally listed for... FIRE SALE PRICES! Now, it's a healthier 92%. This means there are less fire sale deals to be had and/or that realtors are smartening up their sellers to price more effectively. Lastly, the median sale price is up!!!- .03%! Not much at all.
So the answer to the big question is, probably. 2010, in my opinion, is not going to be an appreciation year by any means, but it is also not going to be a huge plumet in value year. There may be slight pops and drops and overall we are going to see a flat year. The first half may be spiked by the first time home buyer tax credit extension and the existing home buyer credit. The second half may flatten out after April 30, which is the deadline, by the way.
I encourage you to check out the market stabilization in your area... click the link here on the page and get the info based on your home and neighborhood sales data. Numbers dont lie. People do! ;)

TAX CREDIT EXTENDED!

Congress has passed new legislation that:
• Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
• Expands the credit to grant a $6,500 credit to current home owners purchasing a new or existing home between November 6, 2009 and April 30, 2010.
Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream.
Who Qualifies for the Extended Credit?
• First-time home buyers who purchase homes between November 6, 2009 and April 30, 2010.
• Current home owners purchasing a home between November 6, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

Which Properties Are Eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Is Available?
The maximum allowable credit for first-time home buyers is $8,000.
The maximum allowable credit for current homeowners is $6,500.

How is a Buyer's Credit Amount Determined?
Each home buyer’s tax credit is determined by two additional factors:
1. The price of the home.
2. The buyer's income.

Price
Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income
Under the Extended Home Buyer Tax Credit, which is effective on November 6, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.
These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 5, 2009, please see 2009 First-Time Home Buyer Tax Credit.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.


Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.


Please let me know if you have any questions on this.

Time left to benefit from the $8,000 tax CREDIT

Ladies and gentlemen, here is the exact amount of time before you can SETTLE on a home to benefit from the $8,000 tax CREDIT from Uncle Sam. If you make less than $90k per year, you are eligible for something and less than $75k on your tax return, you are eligible for the full $8,000! Contact nigel@cbpref.com today to start your pre approval and search so we can help you take advantage of this!!!

For Sale: 3BR/2.5BA Townhouse in Philadelphia, PA, $650,000

Live large just 30 seconds walk from the Piazza in the heart of Northern Liberties. For Sale: 3BR/2.5BA Townhouse in Philadelphia, PA, $650,000

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