Tag Archive for: How to Sell Your House Fast in Philadelphia

Factors to Consider When Deciding if You Should Rent or Sell Your House in Philadelphia

There are several factors to consider when deciding whether to rent or sell your house in Philadelphia. Here are a few:

  1. Financial considerations: One of the most important factors is your financial situation. If you are in a position to sell your house, you may be able to make a profit or at least break even. However, if you are unable to sell your house or if you would not be able to make a profit, renting may be a better option.
  2. Market conditions: It’s important to consider the current state of the real estate market in Philadelphia. If the market is hot and there is a high demand for houses, it may be a good time to sell. On the other hand, if the market is slow or there is a surplus of houses for sale, it may be more advantageous to rent.
  3. Personal circumstances: Your personal circumstances can also influence your decision. If you are planning to move out of the area or if you are unable to maintain the house, renting may be a good option.
  4. Maintenance and repair costs: Owning a house can be expensive due to the cost of maintaining and repairing it. If you are unable or unwilling to pay for these costs, renting may be a better option.
  5. Future plans: It’s also important to consider your future plans. If you are planning to move back to Philadelphia in the future, it may make sense to hold onto the house and rent it out rather than selling it. However, if you have no plans to return to the area, selling may be a better option.

Ultimately, the decision to rent or sell your house in Philadelphia will depend on your personal circumstances and the state of the real estate market. It’s important to carefully consider all of the factors before making a decision.

Is Holding onto Vacant Land in Philadelphia, PA costing you too much money?

Is Holding onto Vacant Land in Philadelphia, PA costing you an excessive amount of cash?

Vacant land generally is a really rewarding funding. Holding on to vacant land can even value you; perhaps straight away, perhaps in the long term. There are annual taxes and doubtlessly property proprietor’s affiliation charges to contemplate, not as many tax advantages, money circulation, and property upkeep points, and market situations to contemplate.

Annual Price

Buying vacant land won’t be as costly as shopping for a home, however don’t neglect in regards to the annual taxes! Relying on the placement and zoning of your land, the taxes is likely to be a couple of hundred dollars or a couple of thousand dollars. In case you maintain onto your vacant land and don’t do something with it, you may find yourself paying double or triple what you probably did for the land in annual taxes and don’t have anything to point out for it however the identical piece of vacant land.

One other potential annual price is the property proprietor’s affiliation charges. In case you bought land in a neighborhood with an affiliation, these charges may also be a couple of hundred or a couple of thousand dollars a yr, relying on the kind of neighborhood and the companies they supply and what facilities can be found. Additionally, take into account that there is likely to be public utility enlargement or different particular municipal initiatives that may very well be added to your annual tax invoice that will or might not enhance your land.

Tax Advantages

Proudly owning vacant land is a pleasant funding asset, nevertheless it has fewer tax advantages than proudly owning a single-family residence or a industrial property. There isn’t a depreciation to say in your taxes, and vacant land doesn’t often qualify for any kind of homestead exemption in your tax evaluation.

Money Circulation

Holding on to vacant land is damaging money circulation. You do not need a construction to hire out and gather month-to-month funds. Relying on the zoning of your vacant land, you may have the ability to recoup a few of these annual tax charges through the use of your vacant lot as additional rental area. You may need to contemplate buying property proprietor’s insurance coverage in case you do something like this. If one thing occurs to somebody in your property whereas transferring or occupying your vacant land, they could file a lawsuit towards you. That might be an enormous value to you.

Property Upkeep

Holding onto vacant land can even grow to be pricey to take care of. In case your property is in a municipality, they could require you to maintain your property mowed. If in case you have loads of timber, they could require you to wash up the comb to protect towards fires. In case your vacant land isn’t in one of the best of areas, some dumping may happen on the property, turning it right into a miniature landfill! This trash and rubbish may trigger you to have code violations and could be pricey to have it eliminated. There might also be unknown contaminants or poisonous points on this land that you’re unaware of, however as soon as found, this may also be pricey to wash up.

Market Situations

Holding onto vacant land generally is a huge mistake. In case you purchase your property whereas the market worth is excessive and maintain onto it for too lengthy, the worth may lower greater than you anticipate. Relying in your buy worth, it may cost much more than your annual taxes to carry onto it yr after yr. You may additionally be dropping a whole bunch of dollars of market worth.

Why Won’t My House Sell In Philadelphia?

Why Won’t My House Sell In Philadelphia?


You’re trying to sell a Philadelphia, PA house that just won’t sell?

And yet – the news says the real estate market is heating up. The media is practically shouting again about multiple offers, high demand, and record-setting prices.

So where’s your contract?

These tips could be just what you need to help you sell your Philadelphia home.

Why won’t my house sell in Philadelphia? – 6 Tips To Cure It

1) Get good help.

Just like before, there are novice agents and investors rushing into the booming market trumpeting that they know what they’re doing.

But they don’t. They’re getting hit hard with the nuances of financing, deal structure, and evaluation. Seriously, chances are good that real estate is your biggest investment – don’t trust just anyone’s advice. If you want great results, partner with the pros.

2) Don’t make too many improvements.

Too often we see over-improved properties – those where the owners have gone too far. Even with the best of intentions, exceptional craftsmanship and true artistic talent, it’s incredibly challenging to exceed what the market is paying. Plus, most buyers want to add their own custom touches. Get rid of all the clutter and think “neutral”.

3) Do make necessary improvements.

Unfixed stuff scares buyers. Show that you’ve been a responsible property owner and get all the little details fixed.

Don’t leave gaps in the trim or plates off of the switches. Get it inspected by a professional home inspector, and show off the healthy home report. This goes a long way towards establishing confidence that they’re making a good purchase.

4) Style and design matters.

Curb appeal is as important as the inside – so don’t neglect one part of the property to improve the other. Give buyers a cohesive impression of great style. Paint the walls, update the landscaping, and most of all – keep it immaculately clean. Consider hiring a professional designer to help tastefully stage the property.

5) Pricing matters a lot.

If you’re getting a lot of showings but not a lot of offers, you might not be too far off in price. If your best efforts to advertise your property aren’t making the phone ring, you’re probably overpriced.

6) Every property will sell – sometime.

There’s no magic formula – but there’s no substitute for experience.

If you need to sell a house near Raleigh, we can help you. We buy Philadelphia, PA houses.

We buy properties like yours from people who need to sell fast.

Give us a call anytime 267.507.5453 or fill out the form here today!

Online Resources to Find the Right Home in Philadelphia

Navigating the Philadelphia Housing market can seem like a frightening activity for potential house consumers – to not point out the myriad of choices which are accessible in terms of mortgages, house purchaser’s insurance coverage and the entire different features related to shopping for a house. Nevertheless, there are fairly just a few completely different sources accessible for any potential house purchaser that’s trying to enter the true property market within the Philadelphia space.

Distinguished Financial institution Web sites

Potential house patrons who’re contemplating the choice of buying a property that has been foreclosed upon by a financial institution can usually acquire info instantly from any of the most important financial institution’s web sites. You will need to know although, that buying a foreclosed property can contain a variety of effort and time. In lots of circumstances, banks aren’t conscious of the situation of those properties both, so it’s important to have a radical inspection carried out earlier than agreeing to place in a suggestion. Potential patrons ought to pay attention to the truth that in lots of circumstances, foreclosed properties could must have a variety of repairs and upkeep carried out earlier than they are often deemed as liveable.

The Philadelphia Landworks Web site

The Philadelphia Landworks division is ready to help potential house patrons who’re eager to purchase property that’s city-owned. Nevertheless, as a lot as 90% of property owned by town consists of vacant tons, which signifies that patrons should buy the land after which have their house constructed on it afterwards. If patrons want to take this route, they might want to be certain that their property plans conform to present metropolis constructing codes and requirements – which might be fairly an costly and time-consuming course of. There may be varied phrases, situations and prerequisites concerning the sorts of buildings that may be constructed on these properties.


Though many house patrons suppose our web site is ‘similar to these from all the opposite Philadelphia actual property businesses,’ this isn’t the case. It’s doable for potential patrons to look our in depth database of obtainable properties rapidly and simply – at any given time, there are greater than 65,000 listings that may be browsed. Listings might be searched in keeping with the quantity of bedrooms, loos, sorts of properties required and even value ranges that a purchaser can afford to contemplate. One other incredible characteristic on our web site is one that permits patrons to seek for properties on a map, which permits them to see a reworked property’s proxies to varsities, locations of labor or different helpful facilities.

Anybody who’s trying to relocate to any a part of the Philadelphia space to be nearer to household, faculties or locations of labor and who must buy an reasonably priced house mustn’t hesitate to contact us immediately. All of our Philadelphia actual property brokers are extremely skilled and they’ll enable you to in your quest to discover a property that’s not solely the fitting dimension, however that can also be positioned in simply the fitting space for you and your loved ones.

How to Sell Your House to an Investor in Philadelphia PA

How to Sell Your House to an Investor in Philadelphia PA

In the past, people would buy a home and live there for the rest of their lives, often passing it on to their family. Things have changed. Many first-time homebuyers are going into it with the attitude that they’ll sell when it’s time for a change. If you’re looking to sell your house, you could be frustrated.

Despite the market trends in Philadelphia slowly shifting, it’s still very much a buyer’s market. With so much property available, you could find yourself waiting months or longer to get a fair price on your home.

How To Sell Your House To An Investor in Philadelphia

One option that many homeowners are turning to is selling to a real estate investor like Philly Home Buyers, LLC to buy your house from you.

These independent investors typically purchase homes, repair them, and then use them to generate income; either as rental units or sell them for a profit. Philadelphia has numerous reputable and trusted real estate investors who will help you sell your home quickly.

Selling your house to an investor is relatively simple.

You provide him or her with information about your home and personal situation.

The investor will then inspect the home and determine a fair value, taking into account necessary repairs, and make an offer. If the offer works for you, you’ll close, and receive the payment for your house in cash… usually within 7 days if you want to close that fast.

How Fast Can You Sell Your House To A Philly Investor?

This process is extremely quick compared to more traditional methods, often taking just 7-10 days.

If you need to sell your Philadelphia home very quickly, with little hassle, selling to a Philadelphia real estate investor is a great option.

When you work with a real estate investor… there usually aren’t any fees involved, as you don’t have to worry about paying an agent commission, and most often, the investor will cover the closing costs.

While real estate investors are often looking to purchase homes at a discount, allowing them to fix up the house if it needs repairs… then sell the home to another home owner.

The Hidden Costs Of Waiting To Sell Your Philadelphia House

Many people don’t consider the hidden costs of holding on to a property.

Extra months of mortgage payments, utilities, maintenance costs, and other fees could quickly add up. By selling at a slight discount, you could potentially end up with a larger sum in the long run.

By selling your home to a real estate investor, you’re saving yourself possible months of headache, and you can quickly move on to your new home. You’ll avoid expensive fees, closing costs, and investors will purchase your home as-is, assuming the costs of repairs that you’d have to pay if you were selling via more traditional means.

Fill out the form to get a fast cash offer on your home!

Give us a call anytime at (215-279-4315)

Philadelphia Rent Growth Slows Down

The Rent trend data in Philadelphia, Pennsylvania

Philadelphia Average Rent

As of October 2017, average rent for an apartment in Philadelphia, PA is $1580 which is a 15.38% decrease from last year when the average rent was $1823 , and a 0.44% decrease from last month when the average rent was $1587.

One bedroom apartments in Philadelphia rent for $1404 a month on average (a 17.95% decrease from last year) and two bedroom apartment rents average $1738 (a 21.35% decrease from last year).

All beds1,580
1 beds1,404
2 beds1,738

Philadelphia Average Rent By Neighborhood

Fairmount-Spring Garden2,193
City Center West2,109
City Center East2,056
North Central1,851
Wharton-Hawthorne-Bella Vista1,823
Cobbs Creek1,623
Schuylkill Southwest1,557
South Philadelphia1,532
Chestnut Hill1,520
East Falls1,305
Point Breeze1,261
Girard Estates1,215
Alleghany West1,208
Marconi Plaza-Packer Park1,195
Mount Airy1,152
Academy Gardens1,006
Strawberry Mansion975
Morris Park947
Cedar Brook924
Oxford Circle917
Grays Ferry899
Haddington-Carroll Park877
Fox Chase873
Oak Lane824
Hunting Park794
Logan-Fern Rock794

The most expensive Philadelphia neighborhoods to rent houses in are Fairmount-Spring Garden, City Center West, and Riverfront.

The least expensive Philadelphia neighborhoods to rent houses in are Frankford, Olney, and Fairhill.

When Is The Best Time to Sell Your Home in Philadelphia?

When Is The Best Time to Sell Your Home in Philadelphia?


When is the best time to reach the most prospective buyers in YOUR market? And when will it be the easiest on you? In our latest post, we will help you figure out when it’s the best time to sell your house!

The Best Time to Sell Your Home in Philadelphia

What the stats say:

Nationally, homes listed between May 1 and May 15 sold around nine days faster and for nearly 1% more than the average listing, according to Zillow.com

Saturday is the most popular day of the week, as that is when people have the time to look for a new home. And since listings often appear with the newest ones first, getting yours at the top of the list will help you to get more views.

Is there a particular time of year that is better? 

They always say people are buying in the spring and summer. School is over, relocating is easier and the weather is conducive for going house hunting. Statistics show more people are buying in the Summer, so you will likely have MORE buyers! Start with cleaning to stage your home, and get ready to list it sometime in Spring.

Of course, if you are selling a home you own that is located in a warmer climate, cold weather isn’t as much of a factor.

Are you ready to sell your Philadelphia house?

Ask yourself, “Am I financially ready to sell.” There are costs associated with selling your home such as repairs, clean-up, staging and making it look sharp. Do you need to move in a hurry? Or be able to get financing for a new home? If so, this can add pressure which will stress you out and sometimes make you sell.

Are you and your family emotionally ready? If the move isn’t necessary, make sure it’s really the best time to go. Are your kids almost out of school? Are you certain you want to leave your friends, job, and community? Make sure you are making the right choice before making such a big decision for your family.


Are you interested in selling your Philadelphia home? If so, we can help you sell your house fast! Send us a message now or give our team a call! We are ready to answer all your questions so you can sell your Philadelphia home fast! (215.650.7403)


Do I Have To Pay Inheritance Tax When I Sell My House In Philadelphia

As of 2016, only 8 states still charge inheritance tax. Even if you live in one of those states, some beneficiaries to an inheritance are exempt from paying it. Do you have to pay tax on an inherited property in Philadelphia? The following will help determine if you do.

What is inheritance tax?

Once the executor ( Person who has been appointed to manage the cash. Can be a family member or not) of the estate has divided the assets up and distributed them to the beneficiaries, the inheritance tax comes into play. The tax amount is calculated individually for each individual beneficiary, and the tax must be paid by the beneficiary. For example, a state may charge a 7 percent tax on all bequests larger than $2 million. Consequently, if your friend leaves you $5 million in his will, you just pay tax on $3 million, which is $210,000. The state would require you to report this information on an inheritance tax form.

The executor or administrator of an estate typically fills out the inheritance tax return forms on behalf of the beneficiaries. He or she only needs to complete one form, even if multiple people owe the inheritance tax. The tax form can be very complex; working with an experienced attorney will help you know for sure that the proper tax is paid.

After the form is completed, the executor usually pays the tax from the estate before the remaining amount is distributed to the beneficiaries. The executor or administrator has nine months from the date of death to pay the tax. Otherwise, a late penalty may be assessed.

The Difference Between Inheritance Tax & Estate Tax

The major difference between estate taxes and paying tax on an inheritance depends on who’s responsible for paying it. An estate tax is imposed on the value of property and a deceased person’s money and is paid out of the decedent’s assets before any distribution to beneficiaries.

Before an estate tax is due, the value of the assets must exceed certain thresholds that change yearly, but usually it’s at least $1 million. Because of this high threshold, Roughly only 2 percent of citizens will ever have to pay this tax.

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States with an inheritance tax

The federal government does not collect inheritance tax. It IS ONLY AT THE STATE LEVEL – The eight states that collect inheritance tax are Indiana, Iowa, Kentucky, Maryland, Nebraska, New Jersey, Pennsylvania and Tennessee. All state laws are subject to change at anytime, so always check with your state’s tax bureau. The tax rates   can be as low as 1 % or as high as 21% of the value of property and cash you are inheriting. Please check the chart for your state.


Inheritance and estate taxes are one of the most hindering taxes for economic growth and have been shown to suppress entrepreneurship, and have heavy compliance costs.


The Stepped-Up Basis Rules Change Those Who Inherit Property

Step up in basis is the readjustment upon inheritance of the worth of an appreciated asset for tax purposes, discovered to be the higher market value of the asset at the time of inheritance. When a house is passed on to a beneficiary, its worth is usually more than when the previous owner bought it. “Basis” means the asset’s price used for tax purposes. To ascertain whether you’ve a gain or less when you sell an advantage, its basis is subtracted by you from the sale cost. You’ve got a gain if you’ve got a positive number. You’ve got a loss, if you’ve got a negative number.

The basis of a dwelling you construct or purchase is its price, plus any improvements you make while you possess it.

Nevertheless, the tax basis of a home’s is established after the owner dies otherwise when someone inherits a house. This implies that the price for tax purposes of the home’s isn’t what the -deceased earlier owner paid for it. This will typically be more than the earlier owner’s basis.

The bottom line is that if you after sell it and inherit property, you pay capital gains tax based just on the worth of the property as of the date of death.

Example: Jean inherits a house from her dad John. He paid $100,000 for it over 20 years past. John made $20,000 in progress over the years, so his ‘s tax basis in his house just before died was $120,000. However, when the house is inherited by Jean its basis is stepped-up to its fair market value on the date of the departure of John. Jean has the house appraised and this value is set at $300,000. The house is sold by jeans for $310,000 a few months after she inherits is inherited by her. $300,000 is her tax-basis on the house. She subtracts this amount from the sales price to establish her gain that is taxable: Sold price of 310,000 – $300,000 = $10,000 gain.

If you sell an inherited dwelling for less than its stepped-up basis, you’ve got a capital loss that can be deducted (assuming you do not use the dwelling as your private residence).

However, there is a max of $3,000 of total losses can be deducted against your income every year. Any excess must be spread out and deducted on future tax years until the total amount is deducted.


Inheritance tax exemptions in Philadelphia, PA

Depending on your own relationship to the decedent, you may receive an exemption or decrease in the amount of inheritance tax you must pay. For example, Philadelphia, Pennsylvania exempt a partner from the tax when the property is inherited by them from their partner. ( Husband or Wife – Up to the First $30,000) 

The tax rate for Pennsylvania inheritances depends upon how close the familial connection is between the deceased person and the person receiving the inheritance. No inheritance tax will be owed if the beneficiary is:

  • A surviving spouse of the deceased
  • A parent of a deceased adult child
  • A charitable organization

There are also classes of people deemed to be close familial relations of the deceased; however, they do owe an inheritance tax. These individuals include children of the deceased and parents of a minor; they are considered “Class A heirs,” and they owe a 4.5% inheritance tax on the amount they receive.

“Class B heirs,” such as siblings of the deceased, owe a 12% tax rate. All other beneficiaries pay the collateral tax rate of 15 percent.

Rates for Inheritance Tax


The rate of tax imposed on transfers to or for a surviving spouse are based on the date of death of the decedent and taxed as follows:


Dates of DeathRate
Prior to July 1, 19946%
July 1, 1994 through December 31, 19943%
January 1, 1995 and after0%



  • We are not Attorney’s and this is not to be accepted as legal advise, we always recommend seeking counsel from an experienced Attorney to assist with your inheritance. 

4 Step Probate Process

We meet with sellers every day that need to sell their property  and unfortunately; sometimes; they have acquired the property do to  the loss of a family member which can be a in stressful time in their lives.  We are always willing to help with the probate process and settle the estate. The process requires 4 steps and will require a for title search to identify all outstanding liens and judgments.

What is Probate Process?

Probate refers back to the course of whereby sure of decedent’s money owed could also be settled and authorized title to the decedent’s property held within the decedent’s identify alone and never in any other case distributed by legislation is transferred to heirs and beneficiaries. If a decedent had a will, and the decedent had property topic to probate, the probate course of begins when the executor, who’s nominated by the decedent within the final will, presents the desire for probate in a courthouse within the county the place the decedent lived, or owned property. If there isn’t any will, somebody should ask the court docket to nominate her or him as administrator of the decedent’s property. Usually, that is the partner or an grownup youngster of the decedent. As soon as appointed by the court docket, the executor or administrator turns into the authorized consultant of the property.

The 4 Fundamental Steps to Probate

1. File a petition and discover  heirs and beneficiaries.

As described above, the probate course of begins with the submitting of the petition with the probate court docket to both (1) admit the desire to probate and appoint the executor or (2) if there isn’t any will, appoint an administrator of the property. Typically, discover of the court docket listening to relating to the petition should be supplied to all the decedent’s heirs and beneficiaries. If an inheritor or beneficiary objects to the petition, they’ve the chance to take action in court docket. Additionally, typically, discover of the listening to is printed in a neighborhood newspaper. That is to try to inform others, comparable to unknown collectors of the decedent, of the start of the continuing.

2. Following appointment by the court docket, the private consultant should give discover to all identified collectors of the property and take a list of the property.

The private consultant then provides written discover to all collectors of the property based mostly upon state legislation; any creditor who needs to make a declare on property of the property should accomplish that inside a restricted time frame (which additionally varies by state).

A listing of all of decedent’s probate property, together with actual property, shares, bonds, enterprise pursuits, amongst different property, is taken. In some states, a court docket appointed appraiser values the property. When mandatory, an unbiased appraiser is employed by the property to appraise non-cash property.

3. All property and funeral bills, money owed and taxes should be paid from the property.

The private consultant should decide which creditor’s claims are respectable and pay these and different remaining payments from the property. In some cases, the private consultant is permitted to promote property property to fulfill the decedent’s obligations.

4. Authorized title in property is transferred in accordance with the desire or underneath the legal guidelines of intestacy (if the decedent didn’t have a will).

Following the ready interval to permit collectors to file claims in opposition to the property, and all permitted claims and payments are paid, typically, the private consultant petitions the court docket for the authority to switch the remaining property to beneficiaries as directed within the decedent’s final will and testomony or, if there isn’t any will, in accordance with state intestate succession legal guidelines. If the desire requires the creation of a belief for the advantage of a minor, partner or incapacitated member of the family, cash is then transferred to the trustee. Except the beneficiaries of the property waive the requirement as allowed underneath some state legal guidelines, the petition might embody an accounting of how the property have been managed in the course of the probate course of. As soon as the petition is granted, the private consultant might draw up new deeds for property, switch inventory, liquidate property and switch property to the suitable recipients.

Briefly, a correctly drafted will, up to date usually to account for all times adjustments, organized information of money owed, private property and different property simplifies the probate course of. The simpler it’s in your private consultant to hint your steps after you are gone, the better the method.