V2 Properties Newsletter Volume 10, Issue 6

June 2020

Exponential Insights

Properties At A Glance

  • 13
    Currently Under Contract
  • 53
    Awaiting Building Permits
  • 3
    Sold In Last 30 days
  • 1
    Scheduled To Sell In Next 30 days

Fantastic Month!

Putting houses under contract

As we started to see light at the end of the tunnel in late April regarding restrictions to building and selling real estate in Philadelphia we certainly had a lot of questions as to how the market would rebound—or for that matter not rebound?

To some extent some of our questions have been answered—for the short term anyway. This past month as the restrictions on the real estate market have been reduced, we have seen a significant increase in the number of showings as well as offers on our large inventory of new construction homes.

Since we published our last newsletter on May 15th, we have put a staggering number of homes under contract— 19 homes have gone under contract in the last 30 days!

There are a variety of factors that have contributed to our success, interest rates remain at historically low levels, inventories for available housing remain low and as the changes to the tax abatement next year in Philadelphia are helping to motivate buyers to get into the market right now.

The good news in addition to the number of homes put under contract is that we have not needed to reduce pricing for our homes. We are for the most part receiving full price offers or coming to an agreement with buyers that are within 2%-3% of our original list price.

The second half of 2020 WILL BE better than the first half of 2020!

Vince Viney, Founder & President


Press links

Where Are Our Projects

0
In the Pipeline
1
Phase 1 - Foundation & Framing
2
Phase 2 - Mechanicals & Insulation
3
Phase 3 - Final Finishes
4
On the Market
4
Under Contract

Phase 1

Phase 2

Phase 3

Under Contract

On The Market

In The Pipeline

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