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Fact or Fiction? Listing Above Market Price Yields a Greater Sales Price Philadelphia’s real estate market continues to soar with median sales prices up 12.5% YoY, per Redfin. I’ve seen sellers fail to seize on this opportunity, and make critical errors based on false information. One troubling myth is that listings with above-market asking prices generate greater sales prices. If you’re considering listing, remember that buyers don’t overpay. They conduct due diligence and make buying decisions based

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“Red-Hot” Real Estate Market: Key Reasons to Purchase a Property in Philadelphia Now. “[It’s] the hottest market I’ve ever seen . . . [according to] any metric you want to bring to bear. The market is between red-hot and white-hot.” – Kevin Gillen, Senior Research Fellow, Drexel University’s Lindy Institute for Urban Innovation The Philadelphia market is on fire and the following are 3 reasons you should invest right now: 1. Population Growth. Over the past decade,

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Navigating the 2nd Half of 2021: Key Real Estate Market Factors to Track in Q3 and Q4 We’re halfway through 2021 and Philadelphia’s real estate market is soaring. As I examine the near-term and future performance of the real estate sector, the following are 3 factors that I’m actively tracking to navigate the second half of 2021: 1. nEnd of Foreclosure Moratorium. According to the Census, 70K+ Philadelphians believe they’ll need to leave their home due to

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The Power of a Schmooze A lot academic attention has been devoted to the impact of rapport building on negotiations. In her journal article Schmooze or Lose, Janice Nadler—Professor of Law at Northwestern University Pritzker School of Law—determined that 5 minutes of schmoozing yielded more cooperation, sharing of information, and trust, and in the process, improved negotiation outcomes. Her scholarship has profoundly impacted my negotiations, and here are a few tips to supercharge yours: 1. Get to

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Understand Risk, Unlock Value   As Philadelphians approach a new normal and the US economy recovers, the Philadelphia real estate market has erupted. Median Sales Prices have roared to the highest prices in 5 years (65%+ growth since 2017). And, Days on the Market for Philadelphia properties are 34% less than last year. If you’re interested in investing, understanding the following risk factors is key to unlocking value. 1. Systemic risk, or market risk, is the exposure

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Selling Your Unwanted Rental Property As a landlord, there are a slew of reasons you may want to sell your rental property. Maybe you’re relocating to a different state or are exhausted by tenant turnover every year? Regardless of the circumstances, you are not handcuffed to your rental. Some tips when selling a rental include the following: 1. You can sell with an active lease and some buyers may view this as an added benefit since there

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Foreclosure Plan B: Selling on Your Terms. If you’re on the verge of foreclosure in Philadelphia, you’re not alone. According to the United States Census Bureau, 14%+ of Philadelphia borrowers are behind on their mortgages. If you’ve exhausted loss mitigation options with your servicer, there is a plan B: selling on your terms. Rather than wait until your foreclosure is a few weeks from a sell date, where you’d likely leave money on the table, you can

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End of Q1 Real Estate Views: 3 Key Philadelphia Market Takeaways ​ Hindsight is 20/20, and I’m grateful 2020 is in our hindsight! We’re 90+ days into 2021 and, while there are still unknowns at the end of Q1, I want to share three Philadelphia real estate market observations.​ ​ 1. Record-Low Housing Supply. Philadelphia currently has 2,511 homes for sale, according to the Drexel University Lindy Institute for Urban Innovation. The city has historically averaged 7,400

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Choosing a Real Estate Sales Expert If you’ve decided that you want to sell your home or one of your investment properties, this is more than likely one of the most significant transactions you’ll ever engage in. Accordingly, it’s critical to find the best real estate professional to guide you through every step of the transaction process. The following questions will help you pinpoint an expert that will sell your property in the shortest amount of time,

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A great way to elevate your bargaining power in a real estate negotiation is via a strong BATNA, or a “Best Alternative to a Negotiated Agreement.” In other words, your best outside option if you walked away from the deal at hand. BATNA is a concept that was developed by Roger Fisher, William Ury, and Bruce Patton of the Harvard Negotiation Project in their landmark publication Getting to YES: Negotiating Agreement Without Giving In. Their approach has played

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Introductory Image for Winning Offers and Interest Based Negotiation

The Harvard Negotiation Project conceived of a groundbreaking approach that helps both sides in a negotiation get more of what they want. In this “Interest-Based Negotiation,” or Principled Negotiation, parties are encouraged to explore their interests to achieve mutually beneficial outcomes. This method has dramatically boosted my offer acceptance rates, and I hope it helps you do the same. Here are a few tips to improve your offers via Interest-Based Negotiation: 1. Objective Criteria. Provide impartial, factual

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Introductory Image for PMI & How to Save Post

Some buyers want a home but can’t afford a 20% down payment. I understand! On a $500K property, a $25K down payment (5%) is a lot easier than $100K (20%). Lenders require those who put down less than 20% to secure PMI, Private Mortgage Insurance. PMI provides lenders a safety blanket and you flexibility, but can cost up to 2% of your loan annually. I’m here to tell you that you’re not handcuffed forever. Here are a

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