Please note that Jeff’s newsletter was originally deployed on 3/6/20, therefore, the Open Houses that are featured below, as well as some of the events under “Fun Philly Stuff,” have already passed. If you’d like to see any of these listings (or any home in the Greater Philadelphia Area) on your own time, just reach out to Jeff at [email protected] and we’ll be happy to accommodate your busy schedule. In this edition of Around the Block, Jeff talks about the current state of interest rates and when it’s smart to consider refinancing. Read on for more information.
Volume 19: Issue 64 3/6/20
Your Weekly Dose of Real Estate News, Open Houses, Listings and More — by Jeff “City” Block
An Important Public Service Announcement Regarding Interest Rates and Refinancing
I am sure you have heard this by now, but interest rates are at an all-time low. And that is saying a lot because we have had quite a few all-time lows over the past decade.
Most of you likely have an extremely favorable interest rate as-it-is. But this is now a chance to save significant money on a monthly basis or substantially shorten the length of your mortgage, which will save you even more. Moreover, I work with several excellent loan officers who always take the absolute best care of my clients, so if you want to discuss your specifics with an incredible local mortgage contact, please let me know.
Here is what you should consider—
If you have a 30-year fixed mortgage that has a rate higher than 3.5%, or if you are looking for a shorter amortization (15 or 20 years instead of 30), or if you are going to be in your home for more than five years, at this point you should seriously consider refinancing and certainly at least look into it. Your monthly savings may be more than you think. And you can gain even more substantial savings by shortening your term to 15 or 20 years. You will get a much lower rate and the speed with which you pay down your principle is astounding. It is so satisfying to view your monthly mortgage statement and see how much less interest (and more principle) you pay every month.
Please let me know what you think and if you want a recommendation for a local mortgage lender.
And remember to move your clocks ahead one hour this weekend.
Introducing 19 distinctive and dramatic condominium residences with high-end finishes, significant character, and historic charm in the heart of Mount Airy, one of Philly’s hottest and most desirable neighborhoods. On-site covered PARKING INCLUDED. Full 10-YEAR TAX ABATEMENT.
Extremely low taxes, condo fees, and utility costs in this ENERGY STAR Rated project. Superior construction includes extra insulation and advanced sound attenuation methods. Many units have SIGNIFICANT OUTDOOR SPACE, including some with ground-level space and some with decks with sweeping views. This is an elevator building and is pet-friendly.
7111 is comprised of very spacious 1, 2, and 3-bedroom residences, each of which has different layouts and features, including high ceilings, original hardwood floors, and exposed stone and beams. All residences have big windows, open floor plans, excellent space and light, spectacular finishes, ample closets and storage, and hardwood floors throughout. 7111 Germantown Avenue is an adaptive reuse of a historic church annex with all new systems and a newly added, beautifully designed 4th floor. Residences start at $405,000, and there are different price, size, layout, and outdoor options all the way up to magnificent #404 at $1,200,000.
7111 Germantown Avenue is a premier, highly sustainable condominium address in the northwest section of Philadelphia, developed by an award-winning development team. With visually compelling original character and space, along with stunning modern finishes.
This location is easily accessible to so many restaurants, cafes, retail, parks, shopping, library, and more. 5-minute drive to the Wissahickon Valley and miles of wooded trails. 5-minute walk to two SEPTA regional rail lines. And, of course, a quick ride to Chestnut Hill, Center City, Manayunk, and the Main Line. Note–Delivery Expected Third Quarter 2020. Floorplans available for all units. Renderings shown may not be listed unit. Visit 7111Germantown.com for more information.
(As of now, it seems most Philadelphians are still attending public events).
Get Your “Phil” of the Philly Pops 3/6/20 – 3/8/20
You know the hits – “One More Night,” “Two Hearts,” “Another Day In Paradise,” and the song that made air drummers out of all of us – “In The Air Tonight.” You can get tickets here or by calling 215.893.1999. More information about this fun event and the Pop Rocks series here.
Winter’s Warmers Chili Cookoff and Homebrew Competition at Bok 3/7/20 (2:00 p.m. – 5:00 p.m.)
The Philadelphia Homebrew Club hosts the 8th annual competition where you can feast on all-you-can-eat chili samples. Your admission also includes a cool, commemorative glass – you’ll need it to taste selections of homebrew (there will be non-alcoholic options as well). Tickets are $40. This event is 21 and up, though kids 2 and under are permitted when accompanied by an adult (so to be clear, not by themselves!). Bok is located at 1901 S 9th Street. More info here.
Israeli Film Festival 2020 3/7/20 – 3/29/20
It’s an annual celebration of Jewish and Israeli culture and film. Enjoy a special mix of award-winning dramas, comedies, and documentaries. Don’t miss “Golda,” which unfolds the story of Israel’s first female Prime Minister in a fresh new way – happening Sunday at the Philadelphia Film Center. See the entire schedule here which includes times, locations and cinematic descriptions.
#SisterlyLove Project Through 3/31/20
Paying homage to Women’s History Month, 10 local artists celebrate 20 female “Philebrities” with new and inspiring art installations in Center City, North Philly, Fishtown, Queen Village and other locales. You can read more about the talented artists and their subjects (including Jane Golden, Tina Fey and Patti LaBelle) here. Don’t miss the Tara Lipinski yarnbomb at Starr Garden Playground. Pictured: Nizah Morris by @marisa.vr Photo by C. Benner/visitphilly.
This Week’s Featured Listings
2004 Delancey Street
6 Bed | 5 Bath | 2 Half-Bath
7111 Germantown Avenue
JUST LISTED! SPOTLIGHT PROPERTY ON-SITE COVERED PARKING FULL 10-YEAR TAX ABATEMENT
OPEN HOUSES: SAT 12:30 p.m. – 2:00 p.m. SUN 1:00 p.m. – 3:00 p.m.
4 Bed | 2.5 Bath
210 W Rittenhouse Square #2503 PRICE REDUCTION! ON-SITE PARKING AVAILABLE
OPEN HOUSE: SUN 12:00 – 1:00 p.m.
1 Bed | 1 Bath $495,000
2429 Locust Street #510 ON-SITE GARAGE PARKING INCLUDED!
OPEN HOUSE: SUN 11:30 – 12:30 p.m.
1 Bed | 1 Bath
531 Greenwich Street
PRICE REDUCTION! OPEN HOUSE: SUN 1:30 – 2:30 p.m. SOON TO BE FEATURED ON HGTV’S HOUSE HUNTERS!
2 Bed | 2.5 Bath $359,000
173 W Price Street
BRAND NEW CONSTRUCTION
10-YEAR TAX ABATEMENT
3 Bed | 2 Bath
2446 Tulip Street
2 Bed | 1.5 Bath $325,000
525 Fitzwater Street #2
JUST LISTED! 1st OPEN HOUSE:
SAT 1:00 p.m. – 2:30 p.m.
2 Bed | 1.5 Bath $325,000
240 W Penn Street
BRAND NEW CONSTRUCTION
10-YEAR TAX ABATEMENT
3 Bed | 1.5 Bath $269,500
2053 Christian Street #B
PRICE REDUCTION! OPEN HOUSE: SAT 3:00 – 4:00 p.m.
1 Bed | 1 Bath
610 Annin Street
2 Bed | 1 Bath
1324 Locust Street #505
Avenue of the Arts
Do you know about Compass Concierge?
Get fronted for the cost of home improvement services with no interest – ever.
I can help sell your home fast and for a higher price. Let’s talk!
CBT Under Contract
264 S 9th Street
5010 Hazel Avenue
3405 Baring Street
501 S 45th Street
503 S 45th Street
742 Lombard Street
2103 Catharine Street
407 S 43rd Street
800 S St Bernard
2003 Brandywine Street
2350 N Park Avenue
706 S Mt Pleasant Avenue
2200 Arch Street #804
5230 Walton Avenue
2001 Hamilton Street #1224
811 Bowman Avenue
3 Michele Drive
615 Elkins Avenue
1501 Green Street #4
528 Montgomery Avenue
416 N Saunders Avenue
1218 N 30th Street #1
315 New Street #510
2341 E Harold Street
1018 S 24th Street
2215 Cantrell Street
As always, please know that I’m humbled by and appreciative of your introductions and referrals. If you have a friend, colleague, or family member that is in need of Expert Real Estate Representation, please have them contact me.
Be assured, I will do my best to exceed their expectations! Thanks for taking the time to read this issue of Around the Block.
Don’t Forget to “Spring Forward!”
Daylight saving time will begin at 2:00 a.m. on
Sunday, March 8. Turn your clocks forward one hour. There will be more light in the evening and I’m looking forward to that.
This is also a good time to check your smoke detectors in your home to make sure the batteries are functioning.
Compass RE is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
Some imagery in this e-newsletter was sourced via Visit Philadelphia®. Pixabay, Canva.com, and pexels.com