mainlinemarketplace.com » Philadelphia Real Estate News http://mainlinemarketplace.com Mon, 14 Nov 2011 20:02:55 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Short Sale Pitfalls http://mainlinemarketplace.com/2009/04/sort-sale-pitfalls/ http://mainlinemarketplace.com/2009/04/sort-sale-pitfalls/#comments Wed, 15 Apr 2009 15:11:53 +0000 Robert Forster http://mainlinemarketplace.com/?p=27 Many if not all of the buyers we are currently working with have all asked about bank owned properties and short sales in this distressed market. This article from the Philadelphia Inquire offers a great first hand account of the climate of these much talked about short sales. Yes you can get a good deal, but be ready for a very long process, your patience and sanity will be tested!

Short sales given short shrift by lenders
Shane Fisher thought he got a real bargain: a $202,000 three-story house in Lansdowne – $29,000 less than list price – that he could live in and that had two upper floors he could rent.
]]> http://mainlinemarketplace.com/2009/04/sort-sale-pitfalls/feed/ 2 Philadelphia tax assessment plan delayed again http://mainlinemarketplace.com/2009/03/philadelphia-tax-assessment-plan-delayed-again/ http://mainlinemarketplace.com/2009/03/philadelphia-tax-assessment-plan-delayed-again/#comments Wed, 04 Mar 2009 18:41:55 +0000 Robert Forster http://mainlinemarketplace.com/?p=17 The long-delayed overhaul of Philadelphia’s property-tax assessment system will likely be put off for another year. The move postpones a politically difficult transition, which is expected to eventually lead to significantly higher property-tax bills for many Philadelphians and lower bills for others. The delay will also preserve for at least another year what critics say is an inequitable and inaccurate system. Assessed property values in Philadelphia tend to be unduly high in poor neighborhoods and are frequently unrealistically low for residents of expensive neighborhoods. Delaying the switch to the new assessment method – known as the actual value initiative – has become something of an annual rite in City Hall, which has punted on the issue since 2006. The initiative would reassess all properties in the city at actual value and do away with the confusing fractional system, which purportedly assesses properties at 32 percent, rather than 100 percent, of market value. Click here to read the full article.

Source: Philadelphia Inquirer; 2/27/09

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