REALTOR® Magazine-Daily News-What's New in New Housing Design

REALTOR Magazine has a list of the hottest new trends for the home.

Appliance Drawers

walletpop.com

Counter-depth refrigerators

kollewin.com

Motion-detecting faucets

apartmenttherapy.com

LED (light-emitting diode) lighting

digitalillumination.com

Electric heated floors

warmyourfloors.com

Showers with multiple heads and body sprays

thehulbertgroup.net

REALTOR® Magazine-Daily News-What's New in New Housing Design

BRT Down but Not Out

Every time I go to the Board of Revision of Taxes website for information on a property, I wonder when the big change is going to take place.  I remembered voters decided to abolish the BRT, but hadn't heard much since.  Apparently the courts were busy deciding if the city really could strip BRT of it's taxing powers.  The Philadelphia Inquirer reports the answer is no, well not entirely. 

The Pennsylvania Supreme Court ruled Monday that the board could continue to exist and hear property tax appeals.  However, the court said, the city is able to take over setting property values.

If you haven't read the Inquirer's multi part series investigating the BRT, it is well worth your time.  The Inquirer has a main page for all things BRT.  The page is entitled "Tax Travesty, Chaos and Cronyism Inside the BRT" and the three part investigative series can be found here.

Sugar House Casino Opens in Fishtown

Photo: PlanPhilly

With today's test run and an official opening this Thursday, it is official that a casino has come to Fishtown.  There is a lot of speculation about what this new casino will do to Fishtown property values and it will be interesting to follow the casino's impact.  While many involved with the casino will be celebrating it's opening, opponents will hold a funeral.  PlanPhilly has a full story on the casino's opening. 

Who Can Purchase the New PHA Houses at 13th and Fitzwater?

                                             Photo: Brownstoner Philadelphia
The PHA homeowners units at 13th and Fitzwater are near completion.  The housing authority's website gives detailed information on how to purchase one of these homes.  Here are some the key details:

• The three bedroom homes without a garage are priced at $285,000
• To purchase, you must have a full time job and make between $62,240 - $89,470 
• A 5% down payment is required, 1% of which must be your own money.
• Preference for the opportunity to purchase will be given to current or former public housing residents.
• If you sell the home in the first 10 years, this is how the sharing of the proceeds works:

• Subsequent Sale by Original Homebuyer	Buyer’s Share of Proceeds	PHA’s Share of Proceeds
  Within first 3 years of ownership	0%	100%
  During 4th year of ownership	12.50%	87.50%
  During 5th year of ownership	25.00%	75.00%
  During 6th year of ownership	37.50%	62.50%
  During 7th year of ownership	50.00%	50.00%
  During 8th year of ownership	62.50%	37.50%
  During 9th year of ownership	75.00%	25.00%
  During 10th year of ownership	87.50%	12.50%
  After 10 years of ownership	100%	0%

What should happen to Market East?

Picture from hellophiladelphia.com

How to improve Market East has been a discussion point in recent months.  Plan Philly has a new discussion platform on its website and a thread on Market East reminded me of the debate going on.  Philadelphia Inquirer architecture critic, Inga Saffron highlighted the troubles facing Market East in her article entitled "Changing Skyline: Putting Pizazz into Market East".  She writes:

 The city is just waking up to the seriousness of the street's decline. Market East is probably the slice of Philadelphia most urgently in need of redevelopment, apart from the Delaware waterfront. As developers like to say, it's the hole in the doughnut, the gap between the tourist anchors of the Convention Center and Independence Mall. Visitors are apparently so reluctant to shop the Gallery that convention planners regularly charter buses to King of Prussia mall.

Saffron is in a large company of people seeking change, but she disagrees with Councilman Frank Dicicco's
plan to allow unfettered signage.  Plan Philly describes Dicicco's plans:

Councilman DiCicco's Outdoor Advertising Bill 100013 takes away the city's ability to regulate signage and will allow massive outdoor advertising signs including LED digitals and rooftop billboards along Market Street between 7th and 13th Street.

I am not sure we want a Time's Square in Center City, but it will be interesting to see what changes happen. For further reading on plans for the Market East redevelopment see: 2009 Strategic Plan for Market East and Center City District's Planning for Growth on Market East

Revolutionary War Museum Officially Coming to Philly

AP news story reports a deal has been reached to bring a Revolutionary War Museum to Philly.  The Museum will initially be housed in a former bicentennial visitor's center.  Eventually, that building will be torn down and the permanent museum building will replace it. 

Non-profit Spotlight: Northeast Tree Tenders

After a long drive on the highway, I turned onto one of Philly's beatiful tree lined streets and I felt noticably better.  I had the thought that there should be more organizations planting trees on Philadelphia streets.  It turns out there are groups doing just that and Northeast Tree Tenders is one of the successful organizations.  Residents of the Northeast can request a tree for their property and for free or a suggested $15 donation, one will be planted.  The group has planted close to three hundred trees since its inception.  The Fall planting day is November 20th, so get those applications in.

Fall Window Box Ideas

Fall is coming soon.  After the intense heat of this particular Summer, I am very much anticipating Fall.  GardenGuides.Com has a great guide to Fall friendly window boxes.  Below are the key ideas.

Flowers
Purple asters, golden, bronze and maroon chrysanthemums and purple, blue and yellow pansies add bright color to window boxes. These flowers thrive in cooler temperatures and will survive the first frosts. An early snow my wilt the blossoms, but if temperatures warm again, blossoms will return. Feed with a mild fertilizer to keep them blooming.

Foliage
Hardy green plants such as English ivy will provide good contrast for the fall flowers in your box. Or skip the flowers altogether and choose plants that provide the color and texture of flowers. Flowering Cabbage and Kale in shades of green, white and purple add a surprising punch of color. These ornamental vegetables intensify in color after the first frosts and will last well into winter.

Evergreen Boughs
If you live in a part of the country where snow arrives in October, consider "planting" evergreen boughs in your window boxes. Cut the tips of branches from pine, balsam fir or cedar and anchor the boughs in the window box with garden staples. Add ribbons and other decorations for an attractive window box arrangement you can leave out until spring.
Instead of flowers, fill your window box with pumpkins, gourds, Indian corn and other signs of the season. Prop a stuffed scarecrow in your box, or a Halloween witch.



buzzle.com,  deborahsilver.com   http://www.shelterpop.com/2009/08/19/fall-window-boxes/,

Could we see Interest Rates Below 4%?

The following was posted on Realtor Magazine's Daily News:

Average interest on long-term mortgages slid to a record low for the eighth time in nine weeks and could dip more. Freddie Mac reports that 30-year fixed loans averaged 4.36 percent this week, down from 4.42 percent a week ago; the 15-year fixed rate fell to a new low of 3.86 percent from 3.90 percent; and adjustable-rate mortgages were also below 4 percent.


The Mortgage Bankers Association's Michael Fratantoni said the group expects that rates "will begin to rise as the economic situation improves along with jobs."

With significant job recovery still a while off, I wonder if an interest rate in the threes could actually be coming.

July Top Dollar Homes

Center City, 19107
$1,196,500 1101 Locust St 6 H, 3 bedroom, 3 full bath, 2188 sq. ft.

Society Hill, 19106
$1,110,900 22 S Front, 4 bedroom, 3 full baths, 2300 sq. ft.

Center City, 19102
$1,250,000 50 S. 16th 4401 2 bedroom, 2 and a half baths, 1875 sq. ft.

Rittenhouse, 19103
$1,650,000 264 S. Van Pelt, 6 bedroom, 3 full and 1half bath, 4,000 sq. ft.

Art Museum, 19130
$625,000 643 N 17th St, 3 bedroom, 3 full bath, 3200 sq. ft.

Graduate Hospital/Rittenhouse, 19146
$1,070,000 1506 Lombard, 4 bedroom, 2 full bath, 1 half bath, 3,500 sq. ft.

Bella Vista 19147
$705,000 514 S. Darien, 3 bedroom, 3 full baths, 1 half bath, 2900 sq. ft.

Northern Liberties 19123
$650,000 157-59 Poplar, 3 bedroom, 2 full baths, 4200 sq. ft.