Green Goings-On at Kurfiss Sotheby's International Realty's Philadelphia Office

A while back David Krupp, one of the first LEED-certified realtors in Philadelphia and an agent with Kurfiss SIR's Philadelphia office, launched his green properties blog as a companion activity to his more serious pursuits selling "true green" homes and overseeing a major earth friendly renovation of his own property in Philadelphia's Bella Vista neighborhood. Now, as a way of providing a quick reference for all agents in our Rittenhouse Square office, David has put together a hotsheet listing city residences for sale that have green finishes or that are built to LEED standards. If you have an interest in this type of home, you should consider speaking with David as he is super knowledgeable about green construction and finishes, and at a glance he can tell you what's on the market in the "green" category.

"Sotheby's" and "First-Time Buyer" DO Go Together After All

As anyone keeping up with housing data knows, there are a lot of first-time buyers taking advantage of the government's $8,000 tax credit (learn more about the tax credit here.) While many people think Kurfiss Sotheby's International Realty is not part of that market because of our association with high-end properties, we are actually quite active in that segment, representing buyers and sellers of homes that are $500,000 or less. In November 2009, almost 100% of our settlements were for properties at that price point or lower. So, if you are thinking of listing your home and concerned that it's "not a Kurfiss property" because it's valued at less than $1,000,000, reconsider and call our New Hope (215.794.3227) or Philadelphia (215.735.2225) real estate offices. Your property will be treated like a million-dollar home, even if its market value is far less.

Digital Edition of RESIDE Magazine Is Here!

Kurfiss Sotheby's International Realty is pleased to make available the digital edition of the Fall 2009 issue of RESIDE magazine. The magazine presents properties for sale through Sotheby's International Realty in eastern Pennsylvania, New Jersey, New York (upstate and New York City) and Connecticut, plus a few from Florida, Washington, D.C., and other areas.

View the magazine here.

The next edition will be published in May 2010.

Troubled Philadelphia Homeowners Have an Option Besides Foreclosure

The City of Philadelphia wants homeowners who are behind on their mortgages to have an option besides foreclosure.The Nov. 17 edition of the New York Times details a program that brings Philadelphia property owners and lenders together to negotiate deals that enable homeowners to keep their homes. It's loan modification, the difference being that lenders are required to attend the conferences and negotiate in good faith. The program is so successful, that cities around the U.S. are looking at it as a model for their own crop of troubled borrowers. While it also has critics, even they concede it's better than what other cities are doing. Read about it here.

Do We Have Terrific Inventory or What?

Props to our agents in both Philadelphia and New Hope for securing an outstanding inventory of homes. Some of the most recent include:

• A modernist masterpiece in Elkins Park, Pa., listed by Donna Thain in our Philadelphia real estate office. A must-see for the buyer seeking a post-War classic!
• A very formal, historic stone house, re-done by Okie in the early 20th century, listed by Melanie Stecura in our Philadelphia real estate office. Exceptionally well maintained.
• An outstanding stone house in the Poconos on 71+ acres with wonderful distance views and facilities for horses or other animals, listed by Sharon Angle and Brad Bux in our Bucks County real estate office. French country in style and very dramatic inside.
• A superbly designed and built Main Line estate home -- so few people build to this level of taste and quality, it's a true privilege to offer this home.
• An expanded traditional Main Line home with top-quality finishes throughout. Sedate, serene and so stylish.
• Vince Fumo's home in Philadelphia's Art Museum Area. Love him or hate him, you have to give him credit for creating a striking, richly finished home in Center City.
• A modern home in the Bank Building in Center City Philadelphia. Good taste prevails throughout this spacious residence.

There are more to come tomorrow. Check out www.kurfiss.com to see them now.

Slightly Sunny Skies in the Real-Estate Forecast

The National Association of Realtors has released its market forecast for the fourth quarter of 2009 and first half of 2010. Mortgage rates are likely to increase, though not significantly. First-time home buyers are buoying the market, though no one seems quite whether the new tax credit for existing homeowners will affect sales. Here's the complete text from NAR.

First-Time Buyers Have More Time to Shop!

From The Wall Street Journal:

Congress has extended the $8,000 first-time home buyers' tax credit that was set to expire at the end of this month. The credit will apply to all house contracts entered into before April 30, 2010, and closed by June 30. It creates a new $6,500 credit for existing property owners looking to sell their home and buy another during the same period of time.
Both credits have income restrictions limiting their availability.

Hot Real Estate From Around the World!

The new issue of RESIDE from Sotheby's International Realty is now available online!(FlashPlayer required)

Some Homes Have No Comparison

Everyone here in the greater Philadelphia area knows the Main Line area has many, many stunning homes. Recently, we listed a newer house that is absolutely one of the best designed and built residences ever to grace the ground. There is nothing missing in this home's floor plan or materials. Those of you who prefer traditional style will find the taste level impeccable. Check out the slide show here and pass the link along to any high-net-worth individuals who just might want one of the most special pieces of Main Line real estate now available.

Philadelphia Home Exhibits a Green "Savoir-Faire"

Thanks to WABC-TV in New York for recognizing a quality "green" renovation in Center City Philadelphia that just happens to be listed by David Krupp of Kurfiss Sotheby's International Realty. The house, located in the 1500 block of Montrose Street, has achieved LEED Platinum certification, a rarity among residential projects. Here's the piece published on the station's "Green Living" section on 7online.com. Here's the house and its slideshow. A sweet and healthy living space, indeed!

Congratulations to Tom Scannapieco

The Sept. 20 Philadelphia Inquirer published a very nice article about Tom Scannapieco and his newest building, 1706 Rittenhouse, in Philadelphia. Notably, this luxury, floor-through condominium building is more than 50% sold even with prices starting at $3.9 million, not too shabby for the Philadelphia real estate market. The penthouse, listed at $12.5 million, has been under agreement for months, Scannapieco notes. Kudos to Scannapieco and his partners, Joseph and Robert Zuritsky of Parkway Corp., for staying the course through the economic downturn.

Another Reason for First-Time Buyers to Start Searching NOW

An important reminder: Any home buyer who wants to use the $8,000 first-time (or first-time-in-three-years) home buyer tax credit must settle on their property purchase by November 30, 2009 to qualify. Because mortgage approvals and appraisals can take quite long to secure, home buyers should set a target of no later than October 31, 2009 to settle, providing a month's leeway to cover unexpected delays. Start your Bucks County or Philadelphia real estate search here.

See this page for helpful information about the tax credit.

Greening Up in Philadelphia

Congratulations to our own David Krupp. David works out of our Philadelphia real estate office on Rittenhouse Square and is one of the city's first LEED-certified agents. That means he's our Chief of All Things Green here at Kurfiss SIR. Recently, he listed a newly renovated, LEED Platinum-certified residence at 1536 Montrose Street (Graduate Hospital area) that is an extremely interesting, stylish city home. Check out some preliminary photos and read the details here. There will be several open house opportunities to see the property in person.

• SUNDAY August 9th 11:00am-1:00pm: Join us after brunch for mimosas and local art.
• SUNDAY August 23rd 2:00pm-4:00pm: Join us after lunch for organic wine and cheese.

David also has two Queen Village listings, just renovated, that are eco-friendly. See them here.

Contact David to learn more about green real estate or visit his very own blog.

We've Got to Admit It's Getting Better, A Little Better All the Time....

With apologies to Lennon/McCartney, we are very happy to say there's some positive movement in the residential real-estate market in southeastern Pennsylvania. Deals are coming together, prices are falling (frankly, some properties still need to drop a bit more if the owners truly want to sell) and borrowers are getting more comfortable with the mortgage application process. For more on how the market is doing in cities around the U.S., read James Hagerty's story in today's Wall Street Journal.

Here's Why You Won't See Kurfiss SIR Ads in the Newspaper Too Often

Six out of 10 realtors say newspaper ads are useless, and those who do place them often do so ONLY to appease sellers. This info is drawn from a recent national survey of realtors. More below:

http://newsosaur.blogspot.com/2009/07/realtors-repudiate-newspaper-ads.html

Sotheby's International Realty Affiliation Widens Market Reach for Clients

A beautifully maintained, Ferman Lex-built home in Solebury has the distinction of being our first jointly listed and marketed residence with Princeton-based Henderson Sotheby's International Realty. Diane Johnston of our New Hope office partnered with Julia Fulper Hardt and Laurie Lincoln of Henderson SIR to list and market the traditional, center-hall colonial, pictured at right. The owner was a contact of Laurie's. In order to give the homeowner the best Pennsylvania and New Jersey market exposure, Diane listed it through Kurfiss SIR. Both agents marketed it, with Laurie and Julia promoting it via Henderson SIR's Princeton-area publications and web exposure. Priced at $1,195,000, we are happy to report the house is now sold!

A Work of Beauty: The Residences at Rodin

Despite a flurry of negative news about new residential construction in Center City Philadelphia, we feel extremely optimistic about The Residences at Rodin (pictured at left), a new Kurfiss Sotheby's International Realty listing in Philadelphia to be built at 2100 Hamilton Street, overlooking the gardens of The Rodin Museum. Here are a few reasons why:

1. It's the only new luxury condominium to be built in the heart of the Art Museum area.

2. It's a relatively small, boutique building with fewer than 50 residences, on-site deeded parking, concierge services, rooftop pool and lounging area and easy access to all major museums.

3. It's design, with a mansard-style roof line and top-quality materials, is unique among the city's more recent new residential buildings.

See more, including innovative video tours, at this page.

Puttin' Off the Ritz

The Philadelphia Inquirer is on a real tear with its coverage of Center City condominium buildings. This week's story by Alan Heavens concerns the The Residences at Ritz-Carlton, a 270-unit building that was just dedicated by developer Craig Spencer. Eighty units have been sold; 37 sales are pending, but Spencer feels 50% of those might not close due to inability to get financing or buyers being unable to sell their existing homes. According to the article, Mr. Spencer has been unwilling to discount prices, understandable as far as not wanting to undercut the prices early buyers paid, but not understandable given the realities of our present real-estate market. As one reader noted, buyers like to feel like they are getting a bargain, especially when they are able to choose from many competing projects in the city.

Fresh on the Market

It's June and the new listings are still coming. Here's a selection of recent additions to our Bucks County real estate inventory, a fine array of properties to be sure!

• Upper Makefield estate home on 10+ acres: Only three years old, this is simply a stunning residence. Listed at $3,600,000
• 34-acre property: Here's something you don't encounter too often in Solebury Township -- 34 acres of prime land with excellent highway frontage, parking, rental income and more. Listed at $2,400,000
• Doylestown estate home in Fox Valley: A Richard Zaveta-built home with dramatic design elements and luxurious trimmings. Listed at $1,795,000.
• Quintessential Bucks County stone farmhouse: A picturesque setting, big red barn and stone farmhouse on 50+ acres make this a classic! Listed at $1,750,000
• Exciting contemporary home in Solebury: Everyone -- even people who generally don't care for modern design -- falls in love with this house on 11+ acres. Listed at $1,125,000
• Great location in Solebury: Situated just past a pond with only one other house on the cul de sac, this newer home has a well designed floor plan and lovely long-distance views. Listed at $1,074,000.
• Devonshire in Solebury: A great value! Listed at $997,000.
• Stone-front colonial in Solebury: Finely finished and like new, this home is convenient to Princeton, Doylestown, Trenton, etc. Listed at $795,000.
• Rancher in Upper Black Eddy: This house is on a lush 4+ acre parcel and is well suited to full-time living or as a weekender. Listed at $360,000.

To learn more about any of these, please email or call our New Hope office: mailto:info@kurfiss.com or 215.794.3227.

Kurfiss SIR Sale Tops the List

The weekly roundup of Philadelphia real estate transactions in the June 7 Philadelphia Inquirer shows a Kurfiss Sotheby's International Realty sale in the No. 1 position at $999,900. The new condominium is in the 2200 Arch Street building and has a wonderful, private rooftop deck with clear skyline views, a hot tub and a plasma-TV hookup. The interior also has great views. Melodie Kahr and Ingrid Levin in our Rittenhouse Square office had the listing. See the complete list here.

Come and Get Your Discounted Condos!

Today's Philadelphia Inquirer had yet another story about a new condominium building with slow sales. This time it's the Murano, a 304-unit, elliptical glass tower at 21st and Market Streets. Approximately 178 units are still unsold. On June 27 at 1:00 p.m. at the Westin Philadelphia on S. 17th St., 40 units will be auctioned with the reserve price set at $250,000. Read more about this in Alan Heaven's article from Wednesday.

Unnecessary Noise About Mortgage Rates?

Today's Wall Street Journal includes a story about "surging" mortgage rates. The 30-year mortgage rate climbed to 5.44% on Thursday, the highest level since early February. Goodness, 5.44% is still an excellent rate, so I think we should give two thumbs down to this rather alarmist story.

Our own Karen Nicolini from our Philadelphia real estate office sent along this piece of good news: Home buyers who qualify can apply the entire $8,000 first-time homebuyer tax credit directly to their purchase costs. This enriches an already attractive incentive. Read the entire story from Reuters here. And if you're a qualifying home buyer (either a first time buyer or someone who has not owned a primary residence for the past three years) and you want to search for properties, search our web site or call our offices for personal guidance from an associate.

Over the Hills and Far Away

This week the marketing team at Kurfiss Sotheby's International Realty took a road trip to the Wilkes-Barre/Scranton area. This is definitely outside our business zone, but a property owner requested our help with a special listing AND we just happen to have an agent, Jim Pearsall, who is from the area and knows it well. So off we went up the Northeast Extension to a secluded country home on 500 acres of woodland and meadow adjacent to Ricketts Glen State Park.

This property has been in the same family for four or five generations and has served as a retreat rather than a full-time residence. It is a rather upscale house, yet it is very comfortable, just the sort of place where friends and family can relax with a variety of pursuits. The present owner uses to the property for hunting and fishing and even has his own butcher shop on the property to process his quarry. He also grows apples and has a cider house, taps maple trees and processes the sap in a sugar shack on the property, keeps a vegetable garden and has quite an astounding collection of rhododendron. We look forward to listing the property and promoting it in more detail in the next few weeks. Listing agents are Jim Pearsall, Ericka Kirkpatrick and Melanie Stecura.

Unhappy Time for One Philadelphia Condo Developer

There are many new condominium projects on the market in Philadelphia. Many have been quite successful, others are struggling as the market tries to absorb all the new units. And then there are some buildings where "bad" isn't a strong enough word to describe the situation. Check out this article about a Northern Liberties building from Philadelphia Inquirer real estate columnist Alan Heavens to learn more.

And if that's not enough, Mr. Heavens wrote a piece for today's Philadelphia Inquirer on another troubled building involving the same developer. Shame about both of these projects which brought some very cool architecture to the Northern Liberties and Old City areas. Even sadder are the number of people -- buyers, contractors, banks -- affected by this debacle.

Luxury Homes in the Lehigh Valley

I grew up in Allentown, Pa., so I'm quite familiar with the area and its housing stock. Recently agents from Kurfiss SIR secured several listings there that are really quite special. One is a superbly designed and built luxury home in Salisbury Township just a minute or so away from the entrance to Lehigh Parkway (a beautiful, expansive public park.) What makes this home particularly noteworthy is that it is in a neighborhood with excellent supporting real estate. At times when we've listed other high-end homes in the LV, the surrounding homes often have been quite modest. One rule of thumb to remember is that a lot of wealthy people want to live around people like themselves, so the multi-million-dollar home next to the post-War bungalows is sometimes a nearly impossible sale. In any case, the $4.9M home is really well designed and built, and I am honored that the owners have chosen our brokerage to list it. Michael Richardson and Ed McGahan have the listing.

The next LV property that is well worth a look is in Bethlehem. The Villas at Saucon Valley are brand-new condominiums that are maybe five minutes from Saucon Valley Country Club, the
Promenade Shops and I-78. They have very high quality finishes -- I have to admit I never expected them to be so nice. Most condos aren't this well designed. The kitchens and baths are all very well done, as is the flooring, the exterior materials, the windows, etc. They are a good option for the buyer who wants a home that offers fine living but who does not want to worry about maintenance. Monthly fees are very low. See for yourself -- the model is open every Sunday from 1:00 - 4:00 pm at 1918 Carriage Knoll Drive #24 in Bethlehem. Prices start in the mid-$500s. They are listed by Ericka Kirkpatrick.

Mystery Houses

Sometimes we have houses listed that don't sell despite being well maintained, attractive and in excellent locations. Perhaps the price is too high, perhaps there is too much inventory on the market in a similar price range or perhaps....well, in truth, sometimes it's impossible to know why a house isn't finding a buyer.

We have a few like this in our current inventory that I'd like to highlight here. All are priced quite well, having come down from where they were listed initially.

Pin Oak Drive, Buckingham, PA: This home has many positive features: a terrific location in a small cul-de-sac off of a very scenic road, so no through-traffic at all; good supporting real estate; very good floor plan with lots of patios and a balcony overlooking the grounds; all en-suite bedrooms; very large master suite; updated kitchen and master bath; extras including a beautiful landscaping, a garage with space above that could be finished for guest or in-law quarters and a small pond. It has a couple of places where the wallpaper might not suit the next owner's taste, but it's a tiny portion of the house. Really, it's a home in move-in condition. Now, if we could just find someone to make an offer and move in...

Old Carversville Road, Carversville, PA: Situated on 6.75 acres off of yet another very scenic road in Central Bucks, this home is quite spacious with a wonderful custom kitchen, five fireplaces, a lovely family room with a custom wet bar and a really cozy spa room with walls of windows overlooking the property. It also has a six-bay garage and a small, heated bank barn, so there's plenty of room for someone who collects cars, needs hobby space or just wants storage. It's yet another one of our "mystery" listings that just needs the right buyer.

Curly Hill Road, Doylestown, PA: This house has been on the market for a while, first with another brokerage and now with us. I'm highlighting it here because it is a rarity: It's an affordable stone farmhouse with bank barn that is set back a long driveway. It's been updated, and even more unusual than being set far off the road, it has a really good floor plan for a family. A lot of stone farmhouses don't work for the the way people live today with big family rooms, individual bedrooms for each child, etc., but this one has all of that and more, plus lots of room for kids to roam. I don't know why someone hasn't decided to jump on this one. Stone farmhouses are plentiful in our area, but to find one set back a long driveway with views and a barn for less than $1,000,000 in a desirable school district five minutes or so from central Doylestown is, to say the least, quite unusual.

To see our full range of inventory, visit Kurfiss Sotheby's International Realty's web site, or phone our New Hope office at 215.794.3227 or our Philadelphia office at 215.735.2225.

A Real "Wow" Listing in Philadelphia

As I say goodbye to my current favorite listing in Center City Philadelphia, an almost-sold penthouse at 2100 Delancey with the absolute best rooftop deck (photo at left), I am pleased to announce that our Center City Philadelphia real estate office has secured a truly impressive listing in The Barclay. This is one of Rittenhouse Square's premier doorman buildings, an architectural classic directly on Rittenhouse Square. And this home, at more than 5,500 square feet of exquisitely renovated living space, is more like a suburban estate home but with the convenience of city living steps from the front door. Check out these preliminary photos snapped by our own Michael Colavita. The price tag is $5,575,000, steep by Philadelphia standards, but not at all out of line for the quality and size of this Rittenhouse Square condominium.

Suddenly, Modernism Sells in Bucks County

There may be no other area of the United States with as much historic, stone architecture as Bucks County, Pennsylvania. That's what people usually move here for: to experience the richness of life in an antique, fieldstone house. Or not. An agent in our New Hope real estate office, Kevin Steiger, recently made a sage observation: Contemporary homes have been some of the best sellers thus far in 2009.

Kurfiss SIR started the trend in late 2008, selling Chill Hill in Solebury Township, one of the area's finest midcentury homes. Then, Hellen Cannon in our New Hope office arranged a deal for a hilltop contemporary home above Fleecydale Road (one of the area's most scenic roads) in Solebury. Next, a Prudential office put another modernist masterpiece in Solebury underagreement. All of these were priced between $1.4 million and $1.9 million. This is noteworthy in part because there simply are not that many midcentury or contemporary homes in our area.

We're not sure if this trend has legs, but we're happy to report we recently have listed some Dwell magazine-worthy clean-lined houses, including this one set way off the road in Stockton, N.J., and this one in Point Pleasant, Pa. high above the Delaware River.

Bargain Real Estate, Great Food

We here at Kurfiss Sotheby's International Realty already are fans of Philadelphia, long ago realizing that there are many attractive neighborhoods with truly affordable housing. Now, many of those same neighborhoods are filling up with terrific eateries, according to restaurant critic Craig LaBan's piece in the May 10 Philadelphia Inquirer. While the city has long been known as a top restaurant town, most of the highly regarded dining spots were in the chi-chi Rittenhouse Square neighborhood. No more, says Mr. LaBan. Chef-owned, innovative eateries are popping up all over. Even traditionally Italian South Philly is getting a bit more variety. With so much good food, we're lucky the City of Brotherly Love is a walkable/bikable town!

Fresh on the Market - April 20, 2009

Apologies for the delay in posting about new listings -- the spring season is upon us and both our Philadelphia and New Hope real estate agents are super busy with new listings and showings. We hope this is the start of an uptick in sales. In any case, many of our newest listings (and existing ones, for that matter) are superb historic properties. We are fortunate to have them in our inventory. Here are some quick links to them, though you can always browse the full list at kurfiss.com:

BUCKS COUNTY and SURROUNDING AREAS

Best historic homestead ever listed by Kurfiss SIR, bar none. It's a bit out of our area, located about 30 mins. from Reading, PA, 2 hours from NYC, but it is truly a rare find: $2,500,000

Picture-perfect, Bucks County gentleman's farm: $1,299,000

Fully restored, exceptionally well maintained Bucks County estate: $2,800,000

New loft-style condo in historic building in Frenchtown, NJ: $475,000

Historic Kenderdine Mill Complex, fully restored within a fantastically landscaped setting in Horsham, PA: $1,950,000

Stone toll house located in the heart of Solebury, Bucks County: $399,900

No doubt there are more to come in this busy season, so check back as we showcase the newest properties being listed throughout southeastern Pennsylvania.

Welcome, Patricia Royston

Kurfiss Sotheby's International Realty is thrilled to welcome Philadelphia real estate agent, Patricia Royston. Patricia is a very experienced real estate professional who is exceptionally knowledgeable about Center City Philadelphia real estate. She is a native of England who fell in love with Philadelphia on a visit and decided to make the city her home. Her professionalism and commitment to client service make her a perfect fit with Kurfiss SIR. She lives just a half block off of Rittenhouse Square with her English springer spaniel, Jasper. Email Patricia, or ring her at 215.735.2225.

Two Liberty Place Welcomes Cole and Heidi Hamels!

Several of us here at Kurfiss Sotheby's International Realty were lucky enough to be invited to a special housewarming on Monday, April 6, for Cole and Heidi Hamels. He is the handsome and gracious star pitcher for the Philadelphia Phillies. Heidi is his beautiful wife. They have just bought a significant home in Two Liberty Place, the "power tower" where many rich and famous Philadelphians have chosen to live. The super management and concierge team at Two Liberty welcomed them with a special party that featured live music, fantastic food and most of all, those amazing 360-degree views from the building's 57th floor (this is the penthouse level now listed, along with the 56th floor, with Kurfiss SIR.)

Above is a photo from the evening with Kurfiss SIR owner Donald Pearson, Cole Hamels, Melodie Kahr, our broker associate in Philadelphia, and Douglas Pearson, head of ancillary services for Kurfiss SIR.

FRESH ON THE MARKET

Kurfiss Sotheby’s International Realty listings that have recently hit the market:
This 18th-century stone home is in a picture-perfect setting in the historic village of Skippack. This is a little off the beaten path from our usual market in Bucks County, but it’s a property with residential and commercial possibilities that is loaded with authentic details. Skippack has much to offer – check out the village news, events, shops and more at BestofSkippack.com.

Architecture-Music Meet at Philadelphia Event

It was a March night to remember for nearly 100 guests who braved snow and frigid temperatures to tour a classic, restored Delancey Street townhouse. The evening was capped off with a mini-concert in the home’s front parlor by two very talented, very young (under 25 years old) violinists, Josef Špaček and Joel Link (Joel is on the left in the photo), who are studying at the Curtis Institute of Music in Philadelphia.

Hosted by Melodie Kahr, associate broker, and Patrick Pastella, both of Kurfiss Sotheby’s International Realty’s Philadelphia office, and Rob Volpe, owner of Lily Development Corp., the event showcased the emotional music of composers Béla Bartók and Eugène Ysaye and the drama of the Hewitt Mansion, a c.1869 brick and brownstone home on one of Philadelphia’s most exclusive residential streets. Volpe’s development company restored the mansion’s original architectural details, updated each room, finished the lower basement level and modernized its mechanical systems. The residence is now listed for sale by Kurfiss SIR for $5,995,000. Read more about this event….

MORTGAGE UPDATE: FHA LOANS AREN’T JUST FOR ‘STARTER’ HOMES

At this week’s Kurfiss Sotheby’s International Realty New Hope office meeting for all agents, our in-house mortgage expert, Celeste Spadaccini of Gateway Funding, presented an update on the recently passed $8,000 tax credit for buyers who have not owned property for the past three years or who have never bought a home before. It is absolutely a fantastic time to buy a home with very low mortgage rates, room for negotiation on home prices and the tax credit, which does not have to be repaid.

Celeste also presented information on Federal Housing Administration (FHA) loans. The limits on the value of these loans for the greater Philadelphia area are more generous than you might think: $537,000 with 3.5% down on a duplex (two-unit or twin home); $420,000 for a single-family residence. Learn more here, or contact Celeste directly. She has handled many FHA loans!

FRESH ON THE MARKET IN BUCKS COUNTY

Kurfiss Sotheby’s International Realty listings that have recently hit the market:

Located just a few minutes from Doylestown, this home has undergone spectacular renovations and is priced below its true value. It’s quite sophisticated and a must-see if cookie-cutter newer homes don’t appeal to you. 4BR, 2.1BA. $595,000.

Here’s a most interesting home: A stone school house was purchased by a very successful local architect who designed a fantastic Second Empire-style addition. The original school house is now an expansive master suite. The new part of the home mixes salvaged, architecturally interesting materials, green design and a very practical floor plan. 6BR, 5.1BA. $1,600,000.

Go north! Anyone who wants to hunker down in style in the Poconos should consider this new home on 149 acres. Near Lake Wallenpaupack and its many recreation opportunities, this stone and Hardiplank-sided home is well designed for use as a full-time residence or as a family retreat with plenty of room for guests. 6BR, 5.1BR. $2,400,000.

More new listings will be posted next week! Check Kurfiss.com regularly to see what’s fresh on the market.

Kurfiss SIR Welcomes 2009

It’s a new year, and here at Kurfiss Sotheby’s International Realty, we’re happy for a fresh start. We’re launching our blog to share real-estate and mortgage trends for Bucks County, Pennsylvania, and the greater Philadelphia area, to highlight our more unusual listings and to seek feedback from members of the community about their real-estate experiences.

Let’s launch this blog with a summary of what we’ve seen so far in 2009.

SALES: Activity is UP according to our lead reports and activity on our web site, several listings have gone under agreement this week and agents tell us they are busy showing property, including some in the multi-million dollar range. Could these be New Jersey residents hoping to flee their state’s onerous property taxes and take haven in Pennsylvania? Let’s see whether this activity turns into agreements of sale…

LISTINGS: We have quite a lot of new listings in Philadelphia and, wow, they are sharp. Here in the marketing department, we’re especially enchanted by a penthouse at 2200 Arch (the former Daily News building) with spectacular Eastern skyline views. What is it about a city skyline that’s so mesmerizing, especially at night?

Happily, we are just about to print our first catalog of properties, called The Collection. Here’s a sneak peek. We’d like to thank some area businesses for supporting this effort, including Barley Sheaf Farm Estate & Spa, 1706 Rittenhouse and Bucks County Blacksmiths at Elm Grove Forge.

Please send us feedback on the catalog. It’s our inaugural effort and we will soon begin planning for the Spring/Summer 2009 edition.