Archive for the ‘Financial Planning’ Category

Friday, May 15th, 2015

Six New Homes Coming To Trenton Avenue.

http://www.ocfrealty.com/naked-philly/fishtown/trenton-stables-two-thirds-framed

http://www.ocfrealty.com/naked-philly/fishtown/trenton-stables-two-thirds-framed

By: Jarek Cotto

Trenton Stables is the name of the new six home project being built at the intersection of Blair Street and Trenton Avenue. AGA Developers are the ones behind the construction on this “flatiron-shaped” parcel. These are the same developers that have been building the Frankford Square project for the past few years. The homes are replacing a one-story building that was once a stable back in the day. Ironic isn’t it? We must say that it is a drastic improvement than what was there before.

http://www.ocfrealty.com/naked-philly/fishtown/trenton-stables-two-thirds-framed

http://www.ocfrealty.com/naked-philly/fishtown/trenton-stables-two-thirds-framed

Four homes are now framed out and will be finished by June according to the project website. These four homes will have a pretty standard layout, with a garage in the back facing Blair Street. According to the project website, “Home features include black-diamond brick exterior, rear garage, finished basement, gourmet kitchen with stone countertop, 4th floor master suite, roof-top deck, an open floor plan with hardwood flooring throughout. Buyers will be able to customize all finishes!” The remaining homes are still waiting to be framed. These will be much more unusual because the lot narrows to a point.

 

http://www.ocfrealty.com/naked-philly/fishtown/trenton-stables-two-thirds-framed

http://www.ocfrealty.com/naked-philly/fishtown/trenton-stables-two-thirds-framed

http://www.ocfrealty.com/naked-philly/fishtown/trenton-stables-two-thirds-framed

http://www.ocfrealty.com/naked-philly/fishtown/trenton-stables-two-thirds-framed

Don’t think there is still plenty of time left to purchase one of these townhouses. According to OCF Realty, “Three of the homes are already under agreement but the “corner” home is still available.” Even though it is oddly shaped, it will have 3,300 sqft of interior space along with parking. The homes are pricing fairly high near the 500’s but that should not be an issue to interested parties. Once this project is done, it will bring life back to the area.

 
Thursday, May 7th, 2015

New Homes Are Rising Near Konrad Square Park

http://www.ocfrealty.com/naked-philly/fishtown/new-homes-under-construction-near-konrad-square-park2

http://www.ocfrealty.com/naked-philly/fishtown/new-homes-under-construction-near-konrad-square-park2

By: Jarek Cotto

 

Konrad Square Park is a beautiful patch of green space in Fishtown a fair distance away from Girard Avenue. With the temperatures rising and things blooming once again, it’s always a great experience to walk through here during this time of year.

http://www.ocfrealty.com/naked-philly/fishtown/new-homes-under-construction-near-konrad-square-park2

http://www.ocfrealty.com/naked-philly/fishtown/new-homes-under-construction-near-konrad-square-park2

tulip dauph old

 

2243 Tulip St. is one of the two projects you see making progress here. It’s a stuccoed three story home that at some point in the last couple of years, got demolished. The project even seemed to stall out. Last year, the front of the property was down to two stories of plywood, but now, you can see a new three story home has been framed out in its place. The developers of this project are the Z Home Group. Although, it hasn’t been listed yet, you can bet that this new construction right on the park should fetch a strong price, and be gone quickly.

http://www.ocfrealty.com/naked-philly/fishtown/new-homes-under-construction-near-konrad-square-park2

http://www.ocfrealty.com/naked-philly/fishtown/new-homes-under-construction-near-konrad-square-park2

 

Next is the 2300 block of Tulip St. Here, we see that an old yellow two-story home at 2311 Tulip St. has been taken down. One home is under construction in its place and another one is being built on the adjacent vacant lot. The lots are each only 12.5′ wide, making the homes on the skinny side. Even if that’s the case, this area and nearby East Kensington have proven again and again that even if the homes are skinnier than most, the buyers still seem to come out of thin air.

http://www.ocfrealty.com/naked-philly/fishtown/new-homes-under-construction-near-konrad-square-park2

http://www.ocfrealty.com/naked-philly/fishtown/new-homes-under-construction-near-konrad-square-park2

We are excited to see the progress of the construction projects here, and can’t wait until they are finished.

 
Thursday, April 2nd, 2015

New Apartments Coming To Columbia Ave.

candy factory

By: Jarek Cotto

The Fishtown Neighbors Association recently supported plans to bring 17 units and ten parking spots to a vacant lot at 1133 E Columbia Ave stretching all the way to Earl Street. The plans were recently approved by the Zoning Board a couple of weeks ago and are designed by Harman Deutsch. When this project originally came before FNA last fall, it didn’t get support, but the shedding of a few of the units and a couple of design changes got the community behind the project.

http://www.ocfrealty.com/naked-philly/fishtown/apartments-will-rise-on-columbia-ave-near-girard

http://www.ocfrealty.com/naked-philly/fishtown/apartments-will-rise-on-columbia-ave-near-girard

It’s hard to miss the widespread development happening in just about everywhere you look in Fishtown. It is amazing to see the number of blocks where a new development is occurring or just recently finished up. According to OCF Realty some of the projects include, “the mixed-use project at Girard & Shackamaxon that brought apartments on the upper floors with Palm Tree Market on the ground-floor;  the French brasserie Girard that opened on the ground-floor of a mixed-use building at Marlborough; and across the street from that a former auto supply store has been fixed up and made much prettier.” That’s just to name a few.

The seventeen-unit project on Columbia Ave in conjunction with the Earl Street project will bring 31 new apartments and homes to the area. All we see is dollar signs when thinking about the influx of new customers coming to this commercial corridor.

 

 
Thursday, December 4th, 2014

Will New Development Revive This Old Commercial District?

http://www.ocfrealty.com/naked-philly/northern-liberties/marshall-street-seeing-new-homes-rise

http://www.ocfrealty.com/naked-philly/northern-liberties/marshall-street-seeing-new-homes-rise

By: Jarek Cotto

There was once a lively commercial corridor on the 900 block of Marshall Street that was full of shops and pushcarts like the Italian Market. This small street between Poplar and Girard stopped being a bustling district due to a combination of white flight and a redevelopment plan from the 1950s that never came to fruition that ultimately sunk most of the Marshall Street businesses according to Philaplace. The street stayed that way for years and it looks pretty bad today. Many of the buildings remaining on the block still appear to have residential tenants, but the storefronts are mostly closed down. You will have no problem finding a vacant lot either as they are littered around in abundance.

http://www.ocfrealty.com/naked-philly/northern-liberties/marshall-street-seeing-new-homes-rise

http://www.ocfrealty.com/naked-philly/northern-liberties/marshall-street-seeing-new-homes-rise

New homes are getting built on Marshall St. Two have risen to date, at 922 and 936 N. Marshall St. One has already been sold, but 936 N. Marshall St. is still on the market for $550K.  The homes are three stories high and have parking out front. They have 4 bedrooms, 3.5 bathrooms, and 3,000 sqft of living space. Development doesn’t end with the construction of these two homes either.  According to the listings, five more homes are in the works, making this a seven home development.

http://www.ocfrealty.com/naked-philly/northern-liberties/marshall-street-seeing-new-homes-rise

http://www.ocfrealty.com/naked-philly/northern-liberties/marshall-street-seeing-new-homes-rise

This development on Marshall Street is just another symptom of the expanding boundaries of Northern Liberties development. If this project proves successful, we might see more change on this street, though it may never return to its former glory.

 

 
Thursday, November 6th, 2014

#HotProps: 4 on 6

http://unbouncepages.com/the-somers-4on6/

http://unbouncepages.com/the-somers-4on6/

By: Jarek Cotto

4 on 6 is a new, luxury construction project nestled in one of the citys hottest communities, Northern Liberties. This project includes 4 three story single family homes that were designed by an award winning architectural firm. It is a far cry from the vacant lots that were in the same place back in 2013. Like a phoenix rising from the ashes, 4 on 6 is the rebirth of something totally awesome.
These homes are located at 943-949 N. 6th St, and are appointed with the finest modern finishes. They sit on an 18’ by 19.5’ wide footprint and offer 2,325-2,450 square feet of living space. Soaring 10’ high ceilings are immersed in abundant natural light, and they offer 35+ foot deep rear yards.The first floor features an open layout with maple hardwood floors through out. The kitchens come with matte white Porcelanosa cabinets. The countertops are beautiful Quartz Master 1 ¼” “Carrara Bianco River” quartz countertops. Glass tile backsplash, under cabinet lighting, and a Kohler “Vault” sink with a Grohe “Concetto” chrome faucet also adorn the kitchen. All of the appliances are high end and come with a washer and gas dryer. The high end amenities don’t stop at the kitchen, the master bathroom and guest bath are also adorned. The prime location of these homes means that anything you could possibly need is right at your fingertips. It offers walkability, shopping, a plethora of cool cafes, dog parks, bars, and tons of entertainment and restaurants to enjoy. Two of these homes are already pending leaving just two left, so act fast.

http://unbouncepages.com/the-somers-4on6/

http://unbouncepages.com/the-somers-4on6/

RE/MAX Access sat down with one of the developers at Space Development Group, Eric Fox, for a short Q&A about himself and his work. Here is what was said,

RMA: Are you from Philadelphia?

Fox: I’m originally from South Jersey, a 15 minute drive from Center City.  Close enough to where I’ve considered myself from Philadelphia.  I’ve lived in the city for over 15 years.

RMA: How did you get into development?

Fox: I’ve always looked at old houses or buildings that have been neglected and romanticized about and envisioned what they could be.  The first house I owned was a 100+ year old row house that required extensive renovations.  When I was finished  someone stopped me and asked if they could buy it.  After a couple more houses as side projects to my life in the corporate world, I decided to turn my hobby into a career.

RMA: What are the other projects you have successfully completed?

Fox: I’ve renovated 30+ houses in Philadelphia.  My first development of a larger scale was the adaptive reuse of an old textile mill in Manayunk that I converted to 9 loft condos.  The largest project I was involved in was the conversion of a 125,000 square foot warehouse in Fishtown into 72 residential units with ground floor commercial space.  Over the past 5 years I’ve ventured into ground up construction of close to 30 single family houses across 4 different projects; The NINE on Tulip, Norris Point, The Palm and The 4 on 6.

RMA: What do you think new development means to Philadelphia?

Fox: I think all new development is symbolic of what Philadelphia has become.  Thinking back to the Philadelphia of the 70’s and 80’s, it’s hard to believe its the same city.  The amount and scale of development that has taken place over the past 5 years can be dizzying at times.  From civic projects such as Schuykill Banks, Race St Pier, and Dilworth Park to private, large scale luxury residential towers and office buildings, and anewly constructed and renovated houses that have transformed neighborhoods, Philadelphia has emerged into an international destination.  Thankfully we’re no longer only thought of as the city of cheesesteaks and the Liberty Bell.

RMA: How does a good relationship with a realtor facilitate your success?

Fox: A good realtor is a key component to my business.  The agent/developer relationship is more than putting up a “for sale” sign.  They serve as an adviser to the feasibility of a development project during conception, marketers of the project once started, an educator and consultant to buyers, and facilitator of the sales process once a house is under agreement.  Through all of this, my agent also serves as my therapist.

http://unbouncepages.com/the-somers-4on6/

http://unbouncepages.com/the-somers-4on6/

Look out for more developments from Eric Fox and The Somers team in the future. You can read more about this development at 4on6.info.

 
Monday, September 15th, 2014

Penn Thrives While Our Public Schools Fail.

harrisburg-capital-9401

http://www.phillymag.com/news/2014/09/09/penn-best-college-in-united-states/

by: Jarek Cotto

It is not unusual for Philadelphians to be outraged about something. Phillymag.com has created a diagram showing what has our cities residents upset. Find out what made it on that diagram.

Find out what was gifted to the Free Library of Philadelphia by the William Penn Foundation. It is the biggest gift in Free Library history.

Seven Philadelphia parents and the Parents United for Public Education group are suing the Philadelphia school system. They are suing because of the sub par conditions the school system. Read more below.

Which Philadelphia college is ranked number 1 by College Factual? It beat out Yale, Duke, Harvard and MIT!

Pedestrian struck by train at 8th and Market. See more details below.

 

http://www.phillymag.com/news/2014/09/12/philly-outrage-meter-lesean-mccoy-pyt-schools/

http://www.phillymag.com/news/2014/09/11/largest-gift-ever-philadelphia-free-library/

http://www.phillymag.com/news/2014/09/09/philadelphia-parents-lawsuit-pa-unsafe-schools/

http://www.phillymag.com/news/2014/09/09/penn-best-college-in-united-states/

http://www.phillymag.com/news/2014/09/15/trains-halted-pedestrian-struck-eighth-market/

 
Friday, May 30th, 2014

Buy Your Dream Home with RE/MAX Access

IMG_1337

By: Elizabeth Flynn

 

 

As the Digital Media Director of RE/MAX Access I get a lot of questions from friends and potential clients about how to improve your credit to qualify for a mortgage and buy a house. One of our Facebook fans reached out to us to ask how she could purchase a home making $140,000 per year with a credit rating in the 550’s. My advice to her applies to all potential homebuyers. RE/MAX Access can help a buyer through the entire process of credit rehabilitation to the dream of home ownership.

 

I’m doing it and so can you!

 

credit-score-factors

 

We are currently developing a program to help first time homebuyers navigate the hurdles towards buying a home- including credit! Keep your eyes out for when we have this up and running. This is something that I have gone through myself. I have been rehabbing my credit for the past four years and have recently pre-qualified for a mortgage through our in-house lender, Quaint Oak Mortgage. My advice to you is this- if you and your husband are making $140,000 a year, you should be able to create a plan to pay off some of your debts and improve your credit rating.

 

I brought my own up from 540 to 681 through getting my student loans out of default and paying in a timely manner, paying off any outstanding collections accounts on my credit (most collections companies will take a fraction of the outstanding balance to close the account, or will let you create a payment plan), and maintaining low balances on the credit cards I do have. Pay off accounts in collections first, then pay down your cards based on which ones have the highest interest rates. Your ability to qualify for a mortgage is based on your debt to income ratio, so holding low balances is very important.

 

If you really apply yourself to this process it does work.

Improve

 

I used a free online program called creditkarma.com to monitor my progress. I keep all my due dates set with multiple reminders. I also found a lot of financial advice on the website lifehacker.com. RE/MAX Access can also introduce you to a trusted credit counselor. I know it seems like a long process, but if you commit to it you can begin a lifetime of accruing wealth for your family, rather than paying more for rent and high interest rates. The lower your debt to income ratio is, the better interest rate you will qualify for on your mortgage.

 

You’d be surprised that with a low interest rate your mortgage can be equal or less to what you pay in rent, and you will be generating equity with every payment. Create a financial plan for your family that includes these short term goals, and then work on the longer term ones.

 

The Author's Cute Family!

The Author’s Cute Family!

 

Having an organized and informed plan for your financial future is so important. If you’d like to come in and talk to our mortgage company about pre- qualifying for a home loan, I can certainly arrange that. We can also pair you with a buyer’s real estate agent that specializes in the area where you’d like to focus your search. I’m available all the time to help you with your process. If you’d like to call me in the office our number is 215-400-2600. RE/MAX Access is committed to helping all of our clients achieve the dream of home ownership and we can help you from beginning to end.

Every agent and all the staff at RE/MAX Access helped me!

DWYEO_Logo_L_onwhite
We’re here for you,
Elizabeth Flynn
Digital Media Director
RE/MAX Access
215-400-2600
elizabethflynn111@gmail.com