Philadelphia Real Estate Magazine Sept 2021

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PHILADELPHIA

REAL ESTATE SEPTEMBER 2021 ISSUE

YOUR PHILADELPHIA

Fall Market G U I D E I S H E R E

I N S I D E T H I S I S S U E

City living Organize your life Setting the stage

Media Group ECRWSS Local Residential Customer

PRSRT STD US Postage Paid Newspaper

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PHILADELPHIA REAL ESTATE MAGAZINE | SEPTEMBER 2021

Thank You to our

Expert Contributers

PHILADELPHIA

REAL ESTATE SEPTEMBER 2021 ISSUE

COO

PERRY CORSETTI VP OF SALES

ARLENE REYES PUBLISHER

BRITTANY ROUGHT EDITOR

MACKENZIE FITCHETT Jackie Kemp

Kristen Foote

ADVERTISING

JOHN GALLO MEGAN MUDD DEIDRE SIMMS TATIANA TABILE CONTRIBUTING WRITERS

KATHY CHANG LAUREN LAMANTIA CREATIVE DIRECTOR The Barach Group

Becca Fischer

Sean-Kaplan

Patrick Campbell

KIMBERLY KRAUSS

Philadelphia Real Estate is a publication of Newspaper Media Group 130 Twinbridge Drive Pennsauken, NJ 08110 856.779.3800 x6837 sunadvertising@ newspapermediagroup.com

ON THE COVER

Moira McFadden

The cover features 1833 Delancey Place, Philadelphia, PA 19103 listed by Compass agents Margaux Pelegrin and Mary Genovese Colvin. Listing pricing is $6,250,000.

PHILADELPHIA REAL ESTATE MAGAZINE | SEPTEMBER 2021

ANNE E. KOONS ACCREDITED LUXURY HOME SPECIALIST Licensed in NJ & PA

NJAR Circle of Excellence PLATINUM Award 2020, 2018 2017 15,2012 GOLD Award 2019, 2014, 2013 Direct 8567954709 Cell 8562615113 akoonsbhhs@gmail.com www.annekoonsrealestate.com 1401 Route 70 E., Cherry Hill, NJ 08034

Cherry Hill/Sienna Professionally landscape grounds surround this beautiful home on a cul-de-sac in the Sienna subdivision. This lovely home has 6 bedrooms, 5 1/2 baths, full finished bsmt with hardwood floors, full bath and bedroom. The gorgeous backyard gives you a resort like living with a large saltwater pool with custom glass tiles all around surrounded by Travertine. There is a pool house with a full bathroom, kitchen and 2 beds in the upstairs loft. There is a large trex deck off the back of the house which is great for entertaining and a trex fence surrounds the whole property for total privacy. There is a 3 car side garage, paver driveway and walkway to the front door. A new front door ensemble awaits you, 9ft. Ceilings, 1st floor home office with built-ins, 1st floor mother-in-law suite with its own separate entrance. A large kitchen with granite countertops, stainless steel appliances and large walk-in pantry. Hardwood floors throughout the first floor, large dining and living rooms that lead out to the trex deck which is great for entertaining. Mstr Suite has a newer Mstr bathroom and newer custom closet and sitting area. 3 additional bedrooms and 2 full baths plus a large laundry room finish the second level. Newer 3 zone heat/air. Realistically priced at 899,900.

Voorhees Beautiful Custom Contemporary home in Sturbridge Estates located on a quiet culdesac street with professional landscape grounds. This home has 4 bedrooms,  1/2 baths, 2 gas fireplaces and hardwood floors in foyer, living and dining rooms, kitchen and adjoining office. Finished basement with wet bar,  car garage, heated in ground pool with pattern concrete surrounding it. The kitchen has been remodeled with newer appliances, marble countertops, travertine stone wall backsplash thru out separate island with seating with granite countertop, large pantry closet and wine storage and butler’s pantry leads to dining room. First floor powder room has newer marble countertop, sink and marble walls. There is a large first floor home office, newer trex deck, newer 2 zone hvac system, 2 newer water heaters. Large trex deck off kitchen which leads to paver patio off deck. Mstr bath has been remodeled with travertine and marble and 2 hall baths have newer granite counter tops. This home has 2 staircases, security system, sprinkler system, outside landscape lighting, pool house and fenced yard. Realistically priced at $899,900

Medford Magnificent Custom Built Estate Home on 20 acres of wooded splendor nestled in the heart of Medford Township. Drive thru custom gates that open down the professionally landscaped EP-Henry paver winding driveway that brings you to this exquisite 5 bedroom, 5 1/2 bath Estate home. Beautiful landscape grounds surround this home and you enter this home into the 20’+ foyer and high ceilings and a curved staircase leading to the 3 upper level bedrooms with en-suite bathrooms. The gorgeous first floor Master Suite has his and hers master closets plus a mirrored dressing area, a large sitting area with fireplace and tray ceiling. The master bath has vaulted ceilings, his and her custom vanities, gigantic shower with steam shower with body sprays. There is a first floor study with custom built-in desk and cabinetry. Large formal dining room off the foyer with access to a wet bar and easy access to custom dream kitchen. The chef’s kitchen is truly one of kind with custom Amish cabi netry, stainless steel appliances, large center island with bar height seating and granite tops, 2 Thermador cooktops, Thermador double wall ovens and warming drawer, 2sinks, 2 Asko dishwashers, Sub-Zero refrigerator and a gorgeous breakfast room surrounded with views of the backyard . Off the kitchen there is a large butler’s pantry with an additional Sub-zero refrigerator and storage cabinets great for entertaining. There is an open staircase to the lower level with tile floor with radiant heat, beautiful temperature controlled wine room, there is a great bar for entertaining with refrigerator and dishwasher, pool table room with fireplace, huge theatre room with projection screen and theatre sound plus custom seating, full bathroom, additional bedroom and craft room. Attached 3 car garage with tile floor with radiant heat. The backyard will make you feel like your on a constant vacation with a large EP Henry paver patio, custom masonry wood burning fireplace and a built-in hot tub to help you relax. There is a separate detached 3 car garage which is fully air conditioned and would make a great mancave it has tiled flooring, half bath, elevator to gym room upstairs. It has 3 single garage doors on front and an additional 14’ high x 13’ drive thru garage door on the rear which is great for rv’s, and limos. This truly exquisite estate is a one of kind proper ty! Realistically priced at 2,250,0.

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PHILADELPHIA REAL ESTATE MAGAZINE | SEPTEMBER 2021

Realtors

GEAR UP

for fall market season

PHILADELPHIA REAL ESTATE MAGAZINE | SEPTEMBER 2021

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along with agents Sean Kaplan, Moira McFadden and Becca Fischer reflect on the market.

BY KATHY CHANG

T

ime will tell how the real estate market in Philadelphia will respond as companies slowly call employees back to the office after the novel coronavirus pandemic forced offices to close and people to work from home.

Campbell said he has been slowly receiving phone calls from people who have been staying at their shore homes and their Pocono Mountains’ homes during the pandemic, as well as people wanting to move up from a smaller city home to a larger city home.

Real estate agents Patrick Campbell, team leader at Compass Inc., overseeing the greater Philadelphia area, the Mainline and Southern New Jersey,

“The Philadelphia real estate market is very seasonal,” Campbell said, with the please see MARKET, page 21

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PHILADELPHIA OFFERS

SMALL-TOWN FEEL, WALKABILITY, AFFORDABILITY BIGGEST DRAWS

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PHILADELPHIA REAL ESTATE MAGAZINE | SEPTEMBER 2021

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BY KATHY CHANG

P

hiladelphia, also known as Philly and the City of Brotherly Love, offers a wealth of scenes from art and music, history and shopping, and a hub where foodies descend. These specialties are also all within walking distance of each other and/or 15-minute Uber rides.

Patrick Campbell, a real estate agent and team leader at Compass Inc., overseeing the greater Philadelphia area, the Mainline and Southern New Jersey, along with agents Becca Fischer and Moira McFadden, share what drew them to the city and what the biggest draws are for their clients.

Fischer is a lifelong resident of Philly – other than four years away at college – she and her husband are planning to stay and raise their family.

“I love the spontaneity of what the day may bring in the city,” she said.

“Walking around, I can just have the best days bumping into people I know.

It’s small enough for that sense of community. It’s a diverse, livable city … I feel you get everything you want out of a city in [Philly].”

Those are the same things that drew her parents to make the decision to stay in the city and raise Fischer and her sister.

“I look forward to raising my daughter here and having her experience the different cultures I experienced growing up,” she said, noting her sister and her husband also are raising their family in the city. “Both of our husbands are from the suburbs.”

Affordability of the city is what appealed to McFadden when she moved to the please see PHILADELPHIA, page 8

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PHILADELPHIA REAL ESTATE MAGAZINE | SEPTEMBER 2021

PHILADELPHIA continued from page 7

city as a 22 year old. “[The area] is safe with stuff to do [all while] not eating a lot of your income being young,” she said.

In the late 1990s, McFadden said there was a big push to invest in creating infrastructure and a shopping district in Center City by former Governor and Mayor, Ed Rendell.

In 1995, Stephen Starr, founder of Starr Restaurants, opened his first restaurant “Continental Restaurant & Martini Bar” in Center City. At the time Rendell was quoted in a local newspaper, “It was like a shock of electricity for the development of Old City and led the way for the restaurant revolution down there.”

Today Starr operates restaurants in Philadelphia, New York City, South Florida, Washington D.C. and Paris.

“Before that there were two restaurants in Old City, that’s it, there was nothing to do,” McFadden said.

Campbell said the walkability of the city allows him to walk or bike to every appointment.

“Center City is extremely walkable … from Old City to Fitler Square is a 25-minute walk,” he said. Along the route, people can stop and enjoy the district’s robust food scene, shopping and boutique malls as well as admire the history of the Liberty Bell, Betsy Ross House and row houses dating back to 1850.

Campbell said the residential neighborhoods along the Schuylkill River Trail are green and include dog and pocket parks and each neighborhood has a farmers’ market.

Although Philadelphia is the second largest city on the East Coast, sixth largest across the United States, those who live in the city often highlight the small-town feel.

McFadden said it’s all about the connections.

“We look out for each other,” she said. “It’s a small town masquerading as a city.” ■

Have you found your place in Philadelphia? #1 market share in Philadelphia County by total dollar volume, YTD

#1 Top Workplace in 2020 and 2021 by The Philadelphia Inquirer #1 local and national independent brokerage in the US by sales volume

Compass is pairing the community’s top agents with design, technology, and support to deliver an incomparable client experience, from first-time buyers to seasoned sellers. Meet some of our Philadelphia agents and learn how together we are building the future of real estate. compass.com

O 267.435.8015 Source: Broker Metrics and 2021 Real Trends

Compass RE is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. 1624 Locust Street, Fl 5, Philadelphia, PA 19103

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1822 FRANKFORD AVENUE, PHILADELPHIA $910,000 | 3 BD | 4.1 BA | 3,066 SF

PHILADELPHIA REAL ESTATE MAGAZINE | SEPTEMBER 2021

MARKET

continued from page 5

spring market typically the busiest market season, slowing down in the summer months, followed by a strong fall market season.

Real estate agents expect a strong market as they head into the fall season. Agents said the affordability of housing in Philadelphia compared to other major cities has drawn people to move to the city, also known as Philly and the City of Brotherly Love. This was evident after the real estate market reopened when a moratorium was put in place on the real estate industry in April and May 2020 to help flatten the curve of COVID-19 cases.

people back to the city.

However, it was the opposite. The real estate market has been booming like no other.

“I’m finding a lot of families who may have one parent from the area come back because they love Philly and want to be here,” she said, adding she is also seeing empty nesters make the move into the city downsizing from larger homes.

“It turned around so fast,” Kaplan said.

“The market leading up to 2020 was very strong, COVID just threw fuel on that fire. It really has been the perfect storm of [the pandemic], low interest

COVID-19 It was just last year when things were up in the air for the real estate industry because of the moratorium.

“It was scary for everybody, we weren’t sure what to expect,” Campbell said, recalling the housing market crash after the recession in 2008. He has been a real

Although the market is essentially booming, especially in the suburban market, Kaplan said the shortage of inventory is frustrating at times with offer after offer and very few listings to work with. He said, even though the suburban market saw a boom, the Philly market has held its own.

With demand to buy high and inventory low, buyers – aside from offering well over the asking price - are locking down sales by waiving inspections and mortgage contingencies.

People in New York City realized they could buy a place with more room in Philly with a mortgage for half the price – instead of living in a $900,000 one-bedroom apartment or condo or $3,000 to $4,000 rental, they could spend $500, $600, $700,000 on a home in Philly, according to McFadden.

Philly is centrally located along the northern Eastern corridor and is near other major cities.

For those who moved from New York City to Philly, and may need to start going to the office two to three days a week, can hop on a 90-minute train ride from 30th Street into Manhattan. Philly is also two hours away from Washington D.C.

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estate agent since 2004.

In the current market, it’s not uncommon to see multiple “six, seven and eight to as many as 13 to 15 offers have been made on one property,” Kaplan said.

rates and builders gun shy to build.”

Campbell said everyone was looking for extra space. He said the past year saw a lot of trades, whether upgrading from a studio to a one-bedroom condo, people living with their parents wanting their own space, to speeding up the process on decisions for families who were looking to move to the suburbs in three-tofive years.

Becca Fischer, who has been in the real estate business for 10 years, said connections at one point or another bring

With anything, Kaplan said the current market won’t last forever and said he is starting to see the “red hot” market begin to “cool.” And as they enter the fall season market, he is starting to see the slight shift of people “flipping the script” and considering moving back into the city.

Founded in 2012, Compass, a technology-based real estate broker providing an end-to-end platform that empowers its residential real estate agents to deliver exceptional service to seller and buyer clients - is headquartered in New York City with offices across the country.

With 18,000 agents, Compass is now the country’s largest independent real estate brokerage, according to its website. ■

22 PHILADELPHIA REAL ESTATE MAGAZINE | SEPTEMBER 2021

Staging a Home Helps Sellers Maximize and Buyers Visualize

PHILADELPHIA REAL ESTATE MAGAZINE | SEPTEMBER 2021 23

BY KATHY CHANG

J

onathan Barach, a real estate agent with Compass, Inc. overseeing the greater Philadelphia area, the Mainline and Southern New Jersey, wholeheartedly believes in the staging of a home during the selling process.

“A professional stage, coinciding with touch ups, will make a home visibly appealing,” he said, translating into not only a faster sale cycle, but a higher sales price offer.

The first showing of a property is online.

“If a house is visually appealing, it will be more likely to be seen,” he said.

Barach said he advises his clients to take the time to stage their home, especially if they do not live in the home.

“If the buyer gets in, most people can’t visualize without furniture, no furniture is not as cohesive as with furniture, even if furniture is not to the sellers’ taste,” he said.

Leaving a home unstaged could be a disservice and lead to a lesser offer or more time a property could sit on the market, Barach said.

Staging A designer might take five-to-seven days to come up with a quote and then take a week to prep the house.

“Two weeks is worth the wait rather than rush the sale,” Barach said.

He said the most important areas to stage are the living room, kitchen and master bedroom, as well as a room that may have a unique and different size for buyers to visualize what could be done please see STAGING, page 24

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24 PHILADELPHIA REAL ESTATE MAGAZINE | SEPTEMBER 2021

STAGING

continued from page 23

with the space.

Jackie Kemp is founder of Kater Street Studio. In addition to her company’s own rehab projects, they provide interior design services as well as residential interior staging.

“When I bought my first home in Philadelphia, I had a hard time finding a home that I loved, so I bought a row home that was basically a shell and did a complete rehab, including adding a third story addition,” she said. “When I sold the home a few years later, it sold in a matter of days and the feedback that I received was that it was because of the design and the staging.”

That is how Kater Street Studio was born. Kemp is an interior designer who has worked with some of Philly’s top restaurateurs on the construction, interior design and styling of their restaurants.

“When selling your home, staging can be an important and effective tool that will help you sell your home faster and for a higher price,” Kemp said.

Kemp works with both realtors and homeowners for staging.

“Typically, realtors are the ones that call first as they know first-hand the benefits of staging a home that they are going to put on market,” she said. “I recently worked with a realtor who was selling a condo that had been on the market for a few months in a building that had many other similar listings for sale. We staged the property and within a week it was under contract with a new buyer. I also work with builders and homeowners please see STAGING, page 25

Mario Tropea Jr. & the Dream Team

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1601 W. Oregon Avenue, Philadelphia, PA 19145

PHILADELPHIA REAL ESTATE MAGAZINE | SEPTEMBER 2021 25

“You’ll be amazed at what a coat of paint on some cabinets can do for resale value,” she said.

Compass’ concierge service is a hasslefree way to sell a home faster and for a higher price with services like staging, flooring, painting and more, according to its website.

“Why not take advantage,” Barach said.

When staging a home, Kemp said her first step is to look at the property and visualize what the best way to stage that particular home is – “what are the best parts of the home that we want to highlight? Is it in a great school district? Let’s set up a nursery or a kid’s room.”

“With the pandemic, buyer’s mindsets shifted towards wanting separate work from home areas and outdoor space became a must,” she said. “A lot of staging is understanding the psychology of a buyer and making spaces feel not only functional, but inviting and warm.”

One challenge Kemp encounters is helping a homeowner separate themselves from their home.

“Selling your home is a huge step in your life and it can be hard for some to put away their personal, sentimental items and photographs for staging,” she said. “Don’t think of it as hiding your things away but think of it as making room for your future buyer to envision the home that they will create there.”

The latest National Association of Realtors 2021 Staging Report polled both buyers and sellers’ agents and almost 50% of respondents said staging had both a positive effect on the sale price and decreased the number of days on market.

“Staging not only sets the tone and makes a great first impression, but also helps the buyer visualize the space and

MAGAZINE

Typically, homeowners are the ones that pay for staging services. However, some brokerages like Compass, where Kemp is also a licensed agent, offer an initiative such as their concierge program.

This program allows them to lend sellers the money for staging and other improvements and have them pay it back when the sale is closed.

REALESTATE

who have seen my staged properties and have reached out to provide the service for their homes as well. “

PHILADELPHIA

continued from page 24

OCTOBER ISSUE COMING SOON! DEADLINE OCTOBER 8TH

STAGING

makes the property more memorable,” Kemp said. “When buyers are looking for a home, they tend to see a number of homes in addition to yours. Staging helps to stand out in their minds and helps them to remember what they loved about your home.“ ■

COMMERCIAL AND RESIDENTIAL REAL ESTATE

Proudly Celebrating 45 Years to South Philadelphia and Surrounding Communities

Mario Flacco

Real Estate Agent 1601 Oregon Ave., Philadelphia, Pa 19145-4510 office: 215.389.2222 • cell: 215.783.2697 email: flaccomario@yahoo.com

26 PHILADELPHIA REAL ESTATE MAGAZINE | SEPTEMBER 2021

How to Make Your Home

MORE APPEALING to the Buyers Eye

BY LAUREN LAMANTIA

A

home is supposed to be a place to relax and unwind after a long day, not a place to be overwhelmed by clutter. When preparing a house before it goes to market, homeowners can benefit from decluttering and organizing, just as much as buyers coming to view it.

As a homeowner, when you consider changing the way you view your home and the items that are snug on your shelf, you may feel different about your space and its potential after decluttering and readjusting.

Even if the items in your home are sentimental and ones to hold close, obtaining control of the environment you live in is crucial. In this way, a clean space will help invite in potential buyers due to them being able to visualize themselves being in the space.

Realtor Kristen Foote expressed how important it is to take control of your space and prepare your house before it goes to market. Foote suggests to all her sellers, before going to market, to purge all items in their home they do not want. According to Foote, this helps keep the home tidy throughout the prepping process before displaying it to the public.

“A lot of people don’t know what they should be doing, you can’t just say declutter, it helps when we go room by room and very specifically what needs to be done. I find that when people do this and spend all this time doing this and getting it ready that they want to keep it that neat and that clean. It helps longterm throughout the listing.” Foote said.

Foote also emphasized how keeping a put-together space in the inside of your home is equally as important as the outside of your home.

“That’s your first impression of a home. So, when people say, ‘Wow that looks so beautiful on the outside, what’s it going to look like on the inside?’” Foote said, “Its curb appeal. It’s a buyer’s first impression of the home. They are going to please see DECLUTTER, page 27

PHILADELPHIA REAL ESTATE MAGAZINE | SEPTEMBER 2021 27

DECLUTTER

appreciate it even more. Delany also

continued from page 26

notice that.”

In addition to taking the necessary measures to prepare your home to go to market, taking into consideration the mindfulness of decluttering will benefit how you and others will feel about your space.

BEFORE

Founder of Easily Organized, Megan Delany, spoke about how starting small in your home can easily help you conquer clutter that can be overwhelming.

“When you start small you build momentum, so if you are totally overwhelmed by your whole house, pick one room, one closet.” Delany said, “Little by little, just start small once you see your accomplishments, you’re kind of like ‘Okay I can do this’. Build and grow and go from there.”

As a homeowner, this change will help guests and potential buyers see how well the home is taken care of and they will

spoke about how homeowners and buyers can benefit from an organized space, suggesting how a clean space can promote positive energy within the space.

“Having less to look at can make it feel freer and lighter and less encumbered.

Just being cognizant that our stuff really comes with this kind of charge. Having things put away is super helpful and AFTER calming and beneficial.” Delany said, “In terms of selling your house, certainly having everything tucked away and in some form of order would be beneficial to someone buying your house.”

By incorporating small goals and determination in decluttering and organizing one’s house, the buyer and homeowner can both benefit from an appealing put-together space, leaving everyone involved feeling satisfied. ■ Photo courtesy of Megan Delany

Before and after shots from Megan Delany from Easily Organized LLC

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Each office is independently owned and operated

RENAISSANCE ESTATES Renaissance Estates is a community of 14 Custom Townhomes at 3320 South 20th Street, in beautiful Packer Park and adjacent to gorgeous FDR Park, nestled within the Reserve, Villas ans Regency in Philadelphia.

A FEW Quick Delivery Homes Available | Starting at $995,000

All exterior construction is completed.

There is still time for buyers to select kitchen cabinets, flooring, tiles and more!

Standard luxury features included in starting price: 3200 + sq. ft of luxury living Full 10 year tax abatement A lower level (a few select lots will have full lower level)

Large fiberglass roof deck, plus deck off kitchen (2nd floor) plus, deck off master level (4th floor)

5 stop elevator (lower level to 4th floor), 4 person capacity

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Barbara Capozzi Esq. office 215-551-5100 cell 267-973-0848 bcapozzi@KW.com PackerParkNewHomes.com NM-00470270

Ample sound and weather insulation

2 car garage with interior entrance into home

Sub Zero Wolf appliances, (Sub-Zero refrigerator, Wolf six burner range (or four burner griddle), dishwasher, hood, microwave)

2 CUSTOM-DESIGNED MODELS NOW AVAILABLE FOR PURCHASE.

Interior sprinkler system (hideaway heads)

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**Buyer selects

Call today for a private tour!

215-551-5100

BY APPOINTMENT ONLY

Visit our onsite showroom to see all options/selections.

3320 20th Street, Philadelphia, PA 19145