Residential Mortgages Down 7.2% in PHL

By Stacey Mosley

Real estate is a cyclical industry. Philadelphia, like many cities across the country, has experienced consistent wins and successes since the last recession, but as 2018 comes to a close one question is undoubtedly at the forefront of many minds:

How much longer can these favorable conditions continue?

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Crunching the Numbers: Opportunity Zones

A joint report by: Greg Goldstein & Stacey Mosley

Opportunity Zones have received a lot of attention in recent months. Tacked on to the Tax Cuts and Jobs Act in December 2017, this federal tax incentive program encourages impact investments in distressed rural and urban neighborhoods across the U.S., leveraging capital gains realized on existing investments.

So how does the program work?

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L.L.C. and L.P. Ownership in Philadelphia

by Jon Tehrani

National data indicate ownership rates for L.L.C.s and L.P.s are on the rise. According to a recent report1 in the New York Times, approximately 9% of single-family home sales in 2017 were to L.L.C.s (double the amount from a decade ago) and as of 2015, L.L.C.s and L.P.s owned about ⅓ of all rental properties on the market.

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FixList is now Stepwise Analytics

FixList was founded in 2015 to help get vacant properties fixed up and back into productive use.

We’ve learned a great deal over the last two years, working with large for-profit investors, individual developers, non-profits supporting more affordable housing in their communities. Through all of this we’ve discovered that as a company we are capable of contributing to the real estate and financial industry in so more ways than we initially imagined.

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Time to Talk Tax Abatements

By Stacey Mosley & Jon Tehrani

Mayor Kenney’s suggestion to raise property taxes (for what would be the 5th time in 10 years) during his annual budget address a few weeks ago added fuel to the number of conversations and speculation about the future of the city’s 10 year tax abatement program.

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