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.