Archives: June 2008

Interest Rates

Posted on: June 27, 2008

as we roll into Summer 2008…

 

If you’re in the market to buy real estate right now one of the many details you have to consider are Mortgage Interest Rates. I’m sure you have seen that over the last few weeks they have edged up slightly to just under 6.5% for a 30 year fixed rate loan.   To anybody paying attention to the bustling real estate market over the last 18 to 36 months, this may feel like rates are high.

 

Mortgage interest rates come across my desk every day, so with this recent small increase I got to thinking about interest rates and how they compare to years past. So using the trusty internet I searched mortgage interest rates for Summer 1983 (my first year in the real estate business!).  I knew of course that mortgage rates had been in the double digits but I couldn’t remember the exact number . . . turns out interest rates were almost double where we are today at 12.12%. Wow!

 

In 1983, a gallon of gas was less than a dollar, a movie ticket was $2.00, and a loaf of bread was about 50 cents.  With consumer pricing up across the board 2, 3 or more times in 25 years, it’s interesting that the cost of mortgage money is down by half!

 

Maybe the summer of 2008 is a great time to BUY!!!

Posted by Paul Walsh


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Caravan

Posted on: June 26, 2008

Putting your house on caravan??

At Elfant Wissahickon Realtors, we spend every Wednesday morning out on caravan, visiting new listings or prospective new listings.  The owners of the company make a point to attend all caravans.  We do this for several reasons.  First, it gives us an opportunity to meet many of our prospective and existing seller clients.  I think they enjoy and appreciate the opportunity as well.  Second, it gives us the advantage of a continued and updated view of our listing inventory.  Third, we get to spend a little time with our sales force in a more casual and face to face manner.  We have some fun – and who can’t enjoy that in our non-stop daily business day.  Finally, we catch up with each other.  We may need a quick opinion or another perspective.  On top of everything else, we get a little exercise.  I probably sit behind a desk a bit more than my other partners, so getting out, up and down the steps, is an additional bonus for me.  Hey, this is my first blog ever.  What do you think?

 

Posted by Bob Elfant

Bob Elfant

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Historic Germantown

Posted on: June 20, 2008

I was born and raised in Germantown. My family lived on the 5100 Block of Keyser until I was six years old. We eventually grew out of the 3 bedroom row home on Keyser Street (7 children can do that) and moved to a large twin home on the 400 block of Manheim Street, right across from the Germantown Cricket Club. I got married in 1984 and moved – a whopping three blocks – to the 4800 block of McKean Avenue.  I no longer live in Germantown, but I still own property there and my company lists and sells more homes in Germantown than any other Realtor*.

My roots in the area keep it near and dear to my heart. Positive news about “my neighborhood” always makes me feel great and I enjoy sharing it:

This recent article, available here, in the Philadelphia Business Journal indicates that there is a new marketing campaign on the way for Historic Germantown. That’s great news for one of Philadelphia’s most Historic neighborhoods!

 

*Based on figures from Trend, the MLS of the Greater Philadelphia Association of Realtors, January 1, 2007 through December 31st, 2007.

 

Posted by Paul Walsh

Paul Walsh

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Dining Out Face to Face

Posted on: June 17, 2008

Tonight, June 17th, from 5 to 9 pm, restaurants in northwest Philadelphia are participating in a program to raise money for a wonderful local cause.  Face to Face at St. Vincent’s offers a variety of services to residents of Germantown, including a dining room where more than 20,000 people each year receive a hot meal from local volunteers.  If you eat out tonight at one of the participating restaurants, 10% of your check will directly fund the programs at Face to Face.

 

Participating Restaurants:

Bitar’s, 7152 Germantown Avenue
Bredenbeck’s Bakery, 8126 Germantown Avenue
Bruno’s, 9800 Germantown Avenue
Cosimo’s Pizza, 8624 Germantown Avenue
Cresheim Cottage, 7402 Germantown Avenue
The Flower Cafe, 48 W Maplewood Mall
Geechee Girl Rice Cafe, 6825 Germantown Avenue
Halligan’s, 1619 Bethlehem Pike, Flourtown
McNally’s, 8634 Germantown Avenue
Rollers at Flying Fish, 8142 Germantown Avenue
Scoogi’s, 738 Bethlehem Pike, Flourtown
Solaris Grille, 8201 Germantown Avenue
Sorella Rose, 1800 Bethlehem Pike, Flourtown
Trolley Car Diner & Deli, 7619 Germantown Avenue
Umbria, 7131 Germantown Avenue

All of us at Elfant Wissahickon REALTORS strongly encourage you to support these vital local programs. Northwest Philadelphia is such a great place to live because of the community spirit and giving nature of its residents.

 

Posted by Paul Walsh

Paul Walsh

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Philadelphia Rowhouses

Posted on: June 13, 2008

The city planning commission developed this incredible resource and fascinating history of the Philadelphia Rowhouse, available here.  It’s a great guide for the row-home-owner and an interesting read for anyone with an appreciation of architectural or Philadelphia history.

 

Posted by Paul Walsh

Paul Walsh

 

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New Blog!

Posted on: June 13, 2008

First blog post!

I’m Paul Walsh, Associate Broker and Managing Partner of Elfant Wissahickon REALTORS in Philadelphia.  I’m hoping this blog will serve as a resource for Real Estate information, market conditions, sales strategies, how-to’s for buyers, and general info about housing, Philadelphia and anything else I can think up.

Stay tuned!

 

 

Posted by Paul Walsh

Paul Walsh