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Top News In Philly Development: August 2020

Ever feel like Philly changes so fast you can’t keep up? No sweat. We’ll be bringing you our favorite articles from the month on Philly development – North, South, East, and West. See below for a roundup of all the best local articles from July news.

Real Estate Trends and Market Updates:

Low Mortgage Rates Help Home Buyers as Price Rise – If they can qualify

Where: Philly Inquirer
What: There is no better time to take advantage of low mortgage rates. The Philly Inquirer presents details on the current market and ways to find out if you qualify.

High End Real Estate Listings are Returning in the Philly Area, Outpacing the Recovery of the More Affordable Market

Where: Philly Inquirer
What: Luxury homeowners have held off on selling their homes since March, and now many high-end estates are being listed at high rates on the market, far outweighing the recovery of more affordable housing.

 

The Work from Home Economy is the Next Threat Philadelphia Could Face

Where: WHYY
What: Philly is in danger of losing tax revenue if many office workers don’t return to the city, with the potential of office spaces closing down permanently.

Millennial Homebuyers Outpace Sellers in Tight Housing Market

Where: Cheddar
What: New real estate listings are down across the country, and cities such as Milwaukee, Philadelphia, and New York are leading the decline. The drop in supply comes as demand for new housing surges after the months-long coronavirus — and many of these buyers are millennials.

JLL Report: COVID-19-Related Vaccines Stimulate Life Sciences Real Estate Market

Where: Biospace.com
What: JLL has published it’s 2020 U.S. Life Sciences Outlook, and things are looking good in terms of new job developments and real estate projects in the tri-state area and beyond. See which cities are booming and more!

Mortgage Standards Get Tougher

Where: Arkansas Democrat Gazette
What: Economic hardship during the Covid pandemic has led banks to tighten their lending standards. Mortgage rates are at a historical low, making it a prime time to look into buying houses, but restrictions are changing. Find out how and if qualify.

Philadelphia is the Top Emerging Startup Ecosystem in the US, report says

Where: Philadelphia Business Journal
What: Startup Genome’s Global Startup Ecosystem reports that Philly ranks number 8 on a list of top startup ecosystems.

PHDC is now accepting applications for Phase 2 of rental assistance.

Where: PHL RENT ASSIST.ORG
What: With Phase 2 openings for Covid underway, renters and landlords may submit their application for rental assistance online, by fax, or by mail. Funds will be awarded on a first-come, first-served basis.

The Arts and Architecture:

Trolley Car Ice Cream Shoppe Relocating to Fishtown Outside Fillmore Philadelphia 

Where: PhillyVoice
What: Philadelphia real estate developer Ken Weinstein has gifted his iconic 1948 trolly car to the Fishtown Kensington Area Business Improvement District.

If you’re looking for your next neighborhood and not sure where to go, just ask your Philly Realtor, Christina Briglia, for help! 267.231.5484 or phc.christina@gmail.com.

Category: News
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