Newsletter Volume 10, Issue 6
Properties At A Glance
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
Featured project: 1750 N. Lambert Street
2,520 sq. ft. new construction home with approved 10-year tax abatement. Built by V2 Properties, Philadelphia’s Premier Home Builder. Some spectacular features include a rooftop deck with wet bar on the landing, rear yard, granite kitchen, hardwood floors throughout, great technology and more. Wide trim package through home, elegantly tiled baths, a full 3rd floor master suite spacious closets, and private spa-inspired bathroom. This home also has a finished lower level with tile flooring perfect for a 4th bedroom or 2nd living room. The front facade is brick with a designer standing seam metal sided accent panels and iron railing. The exquisite kitchen which has beautiful cabinets, granite counters, granite island with pendant lighting above, a tile backsplash and quality stainless steel appliances! All of the bathroom vanity counter-tops are granite or quartz. The master bedroom includes a trey ceiling with crown molding illuminated with accent lighting. Tech includes: built in speakers, video doorbell, nest thermostat, alarm system, and full home automation compatibility. Top quality new construction home at a very reasonable price, built by the city's premier home builder! Super low taxes. Also, Builder warranty included by a builder with proven reputation of standing behind their warranty!!
Where Are Our Projects
0In the Pipeline
1Phase 1 - Foundation & Framing
2Phase 2 - Mechanicals & Insulation
3Phase 3 - Final Finishes
4On the Market
On The Market
In The Pipeline