Category: Real Estate
Not Your Average Row Home

Row homes by definition tend to be repetitive, but this example shows how paying attention to the details can really set a home apart. Exposed stone and refinished wood floors will never look the same in two different properties. Paying attention to all of the “touch points”, the objects you physically interact with, make a huge difference in how you experience a home. Solid wood doors, high end dimmer switches, and tasteful granite counters in the kitchen coupled with natural slate floors make for a sensory living experience. Also, the convenience of a walk in closet, especially in what might otherwise be a tight space without storage, gives an important life amenity. A wonderfully landscaped backyard makes great use of the outdoor space for when city living requires a little peace and quiet. Listed at $264,900, check out the complete listing here: 140 Carson St.

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Grand 5 Bedroom Home on Half Acre Lot $530K

This 1915 home reminds me of a Norman Rockwell painting. It features a spacious 3,300 square feet, high ceilings, 27′ long entrance hall, circular staircase that opens up to the 3rd floor, and exposed beams, brick and floors. Windows and skylights let in tons of natural light in this cool, eclectic kitchen.

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View full listing here


The “Starbucks Effect,” and What it Means for Philadelphia

This year, Zillow CEO Spencer Rascoff and its Chief Economist Dr. Stan Humphries released a book that changes some things about the way we think of real estate trends. One of the interesting topics discussed in the book has generated a lot of conversation in the RE world, and that’s the concept of the “Starbucks Effect.” So what’s the story behind the idea and more importantly, what does it mean for Philadelphia?

Simply put, the Starbucks Effect is a term originally coined back in the late 90’s that refers to the increase in home prices that are located within a close proximity to a Starbucks coffee shop. As it turns out, before the folks at Zillow started to closely monitor and study these trends, no one had actually ever done the measurable research on this topic. Their findings were somewhat shocking- between 1997 and 2013, homes located within a 1.8 mile radius of a Starbucks saw an average increase in value by a staggering 96%. That number, compared to the national average of 65%, caught Rascoff and Humphries’ attention. By honing in on a Starbucks location, one could much more accurately assume that a home would see a notable increase in value, therefore predicting the next “hot neighborhood.” Back in the 80’s and early 90’s, this was largely determined by following the gay neighborhoods. As they were segregated to specific blocks in metropolitan cities (often more run-down and in need of repair), these neighborhoods were quickly restored and brought new commercial ventures, which brought money to the area and increased home values. As we continue to progress and elevate our way of thinking in light of gay rights, this is no longer the way ‘the next big neighborhood’ is measured. The Zillow team determined that Boston, where homes near Starbucks saw property values rise 171% in the same research time period, has the Starbucks Effect more than any other city in the US.

Philadelphia ranks 2nd in the nation with a 112.6% increase. One can likely argue that a Starbucks isn’t going to be erected in an area that doesn’t already come with a heftier price tag. Rascoff and Humphries address those arguments in Zillow Talk by stating:

“True. properties near Starbucks locations tend to start out more expensive. But as you can see, these properties appreciate at a faster rate than U.S. housing on the whole. Interestingly, they’re also recovering much more quickly from the housing bust.” 

Listen to NPR’s Here and Now interview with Rascoff and Humphries here


Amazing New Commercial Listings in PHL

For more information on any of these properties, contact Christopher Plant ~ (215) 740-2339

5300-18 Wynnefield Ave, Philadelphia: $799,000

Prime newly constructed commercial space ready for long term, with the added bonus of a low maintenance ownership. No expense was spared in this project of a well-established and highly regarded construction company.

  • 5,785 square feet 
  • 9 individual office spaces 
  • Located on busy street in prime area- close proximity to City Ave and downtown PHL
  • Large parking lot 
  • 3 blocks from Wynnewood Train Station
  • New roof and fire suppression system 
  • Easily accessible from I-76

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82-88 (aka 90) E. Church Ln, Philadelphia: $599,000

This re-purposed commercial warehouse encompasses 16,000 square feet and is currently broken into 9 studio spaces. Occupied by various talented artists, woodworkers, sculptors and ceramicists, providing an annual income in excess of $53,000.

  • 15,696 square feet
  • 9 separate studio spaces 
  • Convenient location just off Germantown Ave
  • $45K worth of recent roof repairs 
  • Updated sprinkler system 
  • Corner property 
  • 4 minute walk to Chestnut Hill East Train Station 

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6120 Ridge Ave, Philadelphia: $365,000

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Great commercial opportunity. This property boasts a combined 9 private offices and kitchenette, and has convenient access to Lincoln Drive, I-76, Manayunk and the Main Line.

  • 2,790 square feet
  • 4 private offices on 1st floor, includes large conference table 
  • 3 offices and kitchenette on 2nd floor
  • 2 offices on 3rd floor 
  • basement entry
  • 2 large picture windows on facade 

 

For more information on any of these properties, contact Christopher Plant ~ (215) 740-2339