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The Somers Team Blog
2Sep/100

Your Meet the Builders Tour Schedule

For next week's Meet the Builders Tour in Old Kensington, we are touring 2 new construction properties, but there's much more in store for our guests this time around. We are really digging into the neighborhood of Old Kensington, because we want to get it out there: Old Kensington is stimulating, cultivated, and ripe for your perusal.

What is Old Kensington? Why should I care?

We'd love to answer that for you on September 9th.  Consider it a key part of our tour schedule:

5:30 - Chillax with Snacks & Cocktails - Tour Begins at 1355-59 Mascher St

6:00 - Meet Special Guest and RE Developer David Gleeson (Owner of the Crane Arts Building) Q&A

6:30 - Get to the Point at the Flats at Girard Pointe with Developer Jeff Tubbs

6:50 - Another Sip and Nibble sounds really good right now. Complimentary beverages/snacks at Girard Pointe.

7:10 - Crane Arts Building Tour with the other owner, Nicholas Kripal

We'll be printing out copies of our map for all that attend, just in case you want to roam on your own after the tour.

So get on out here! Here's how:

There's plenty of street parking in Old Kensington. Are you driving?

From I-95: Take the Girard Ave exit (exit 23). Proceed West on Girard.  Turn right at American St. Take the 2nd right onto Thompson St. Turn left at Howard St and take the 1st left onto  Master St. Then take another 1st left onto Mascher St.

By Subway:
Take the Market-Frankford line to the Girard Avenue exit. Cross Front St and head west. Turn right on Mascher St and head 2 blocks north.


View Meet the Builders Tour in Old Kensington in a larger map

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2Sep/100

Fringe is Back for Fall

Oh no, not that fringe. Fringe is something entirely different in Philadelphia.

Live Arts and Fringe Festival is one of those yearly events that is so inherently Philadelphian that you can't help but love it, hate it, and be confounded by it all at the same time. You go to a bunch of shows that are mind-blowing that showcase some of the city's greatest talents (and some visiting performers from around the world). You take in at least two performances that you consider skipping out on halfway through but then you end up staying because it's actually kind of interesting once you give it a chance. And then there is that one event that you simply just do not understand and feel slightly and wonderfully disturbed by it for several days.

This is Live Arts and Fringe. This is what it's about. This is Philadelphia.

2010's roster of events gives us some neighborhood-specific action and since we are downright neighborhood-obsessed, we are focusing on these picks. If you read our blog often, you know that we try not to leave the many neighborhoods of Philadelphia uncovered. We snap photos, we poke around in the local coffeeshops, and we get to know the most hidden crevices, the fringe, as you would, of Philadelphia.

Without further ado, we present to your our Neighborhood Live Arts/Fringe Picks, from September 3 - 18:

If you're in Kensington...

Check out the Cheap Guy HOF, Class of 2010, in one of Kensington's newest spaces, the Papermill Theater. The series of short plays is put on by Hella Fresh Theatre. The show opens on Saturday, September 4 and runs every Saturday and Sunday throughout the Philly Fringe. Papermill Community for the Arts, 2825 Ormes Street, Kensington. Times vary, $10.

Try Fresh Juice at the Mascher Space Co-op. Sept. 5-6, Sept. 11. $10


Find yourself in the Fringe hotbed of Northern Liberties?

Take part in AFOOT: Northern Liberties, a walking tour with the neighborhood set as a "game board", you'll be given a series of clues that your team will have to solve for prizes and swag. Saturday, September 4, and Saturday, September 11, from 11 - 3pm. Teams leave every 10 minutes, $10.

Nothing good on TV in your South Philly rowhome?

The Real Housewives of South Philly will perk you up. The Waitstaff Sketch Comedy Troupe does not disappoint. Sept. 5, 8, 12,14, 16, 19. $15.

Near the Schuylkill River Trail?

Constants, from Movement Brigade, explores the history of Philadelphia as the Schuylkill River remains the same. Sept 13-18, free, reservations required.

Are you a Poe fan lurking near Callowhill?

There are two options for you.  The Mutter Museum will be showing the Tell-Tale Heart from the aptly named Nevermore Theatre Project on Saturday, September 4, and September 11, and Sunday, September 12. $10. Or you can try Edgar Allan Poe Comes Alive! at 1831 Brandywine St. from Traveling Jones Theater. Sept. 3-4 and Sept. 17-18, $14.

Stretching Out West?

Whose City? from the Media Mobilizing Project Art & Culture Collective is a collage of art, poetry, and music, inspired by the people that live, work, and play in Philadelphia. Sept. 3-4, Sept. 10-11. $5.

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1Sep/100

Tee’d Off in Old Kensington: Derisory Designs

We were so thrilled when Dave Lauder dropped off the large brown cardboard box. He watched us as we excitedly opened it. We popped the box open and saw 50 beautiful brand new, bright white, cotton t-shirts with our logo printed artfully on the front of each and every one of them. Derisory Designs did a stellar job! Chris and I had to laugh at how incredibly self promotional this t-shirt idea was, but I promise, we are not megalomaniacs like that song by Incubus (which is a pretty cool song, by the way). We are just shamelessly trying to build our brand. And shameless branding is where Derisory Designs shines!

As a small local business in Old Kensington, Derisory Designs is on several social media portals. That is how I easily found them when I was searching for local businesses. Patronizing quality local businesses is something we are passionate about. It is very rewarding and important to us on a personal level to help other small hardworking business owners, particularly in this challenging economy. Derisory Designs is not only local but extremely hands on, receptive to small orders, they respond quickly and honor their delivery dates. We highly recommend them for quality printing and top notch service.

Derisory Designs
1627 N 2nd St
267-258-8084

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1Sep/100

“It’s the End of the World As We Know It…” or is it?

REM sang it and now we are singing it too. "It's the end of the world as we know it." Of course, we are talking about the end of the Real Estate market. But hasn't that been the hit song sung by CNBC and the news headliners for the last 2 years? So what is the reason for the end of the world this time? Let's recap.

It's the end of the world as we know itOn August 24th it certainly seemed as if the housing market was falling apart at the seams when the National Association of Realtors (NAR) announced the sales forecast for the 2010 year fell short. Sales of previously owned homes fell 27.2% in July as compared to June.  That is like saying if 200 homes sold in the month of June then only 146 home sold in July. So why was that such a shocker to the analysts? Did they forget that the 8,000 Tax incentive's Rule #1 was that Buyers had to settle by June 30th. (That was extended by the way at the 11th hour.)  Hello people, of course June sales would be higher than July sales. Of course the tax credit would artificially stimulate the number of settlements in June and create a bit of a "hangover" in July.

The Wall Street Journal stated that NAR announced the seasonally adjusted annual rate of sales is 3.83 million and it was at the lowest level since the industry group started its tally in 1999.  Immediately, the pundits were on the air saying how incredible this drop was, how far below analyst expectations this was, what a surprise this was and so on.  I recall an analyst caught up in the hysteria blindly saying that renting is always the best option for anyone considering buying a home right now. This is a perfect example of the media playing up the doom and gloom card. Remember folks, high ratings are what keeps them on the news and admit it, if they do not sensationalize, we won't listen or watch.

Of course on our end, we have been blogging about the "tax credit hangover" endlessly for months.  This dip comes as no surprise for us and if you have been reading our blog and newsletter, this is not a surprise to you either.  So much demand was created and condensed in the months of April, May, and June 2010, it only makes sense that there would be a huge falloff in July.  Is there cause for concern?  Sure there is, in regards to the economy and primarily unemployment.  Is it the end of the world as we know it?  Of course not!  Do we think REM is great? Yes! But we do not like the way the pundits sing their song and we disapprove of the way the media is spinning NAR's calculations. It is quite frankly dampening whatever remains of consumer confidence.

That being said, we are not blind to the negatives either. Let's look at the bad stuff a little closer. With the the home inventory increasing to a supply of 12.5 months (meaning it will take a year and a half to sell what we have for sale right now) and with the increased amount of bank owned properties entering the housing market, and short sales continuing to pop up on the market, there is more risk of price declines in the markets that are already suffering across the nation. More importantly, here in Philadelphia, we see a more stable market with smaller declines across the board particularly for homes priced under $400,000.  The luxury home market will feel the sting of somewhat greater price declines due to the buyer pool being smaller.

What does this all mean to you?

Sellers - Price and condition are paramount. Thus, to get your home sold in this market, you need to be priced below your competition AND have a better product.  Your house needs to show like a dream.  Marketing and exposure are never as important as there are today which is why you really cannot hire your the part-time agent or go FSBO, but hire that agent who excels in Internet Marketing and has a strong presence in the area.

Buyers - Turn the TV off.  There is substantial opportunity out there for you.  This may be the single best opportunity in your lifetime in that the combination of prices being where they are, the amount of properties to choose from, AND mortgage rates being SO low offers you incredible purchasing power.  "But what if prices go lower? "  Good question.... But what if mortgage rates go higher?? Even if prices fall $10,000 on that average sales price, that does not even come close to the amount of extra money you will be spending if mortgage rates went up even one point.   And I can tell you, sooner or later, this is going to happen.

On the investment side, there are more opportunities out there for investors as well since it is harder for buyers to get loans.  In putting my money where my mouth is on opportunity in the Philadelphia real estate market, I have bought two properties in the last couple of months, one in East Passyunk and one in Northwood.   More to come on these in our next newsletter!

It's the end of the world as we know it. And I feel Fine!

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31Aug/100

We Like it on Top: The Top 7 Percent of Philadelphia Realtors, that is.

Five Star Real Estate AgentCheck out the September issue of Philadelphia Magazine for your 2010 FIVE STAR: Real Estate Agents, the Somers Team.  Philadelphia area consumers named us tops for Overall Satisfaction. FIVE STAR's awards are given to only 7 percent of professionals in a given industry and market area. It is such a great feeling and an honor to be rewarded, and we humbly thank our clients and peers for this recognition.

To qualify for this distinction, an agent must meet the criteria before moving on to an evaluation that calculates scores based on satisfaction of clients, peers and industry experts. We are thrilled to have made the list this year!

Five enormous thank yous for five stars that we will do our best to uphold.

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31Aug/100

Food Co-op Comes to Kensington

When you're out and about this First Friday, take a break from art for a minute and turn your attention to food. The Kensington Community Food Co-op will be launching their membership campaign with a party at 2205 Frankford Avenue from 6 - 10pm. Take in 4 local bands and plenty of local beer all for the cause of local food. The KCFC will be discussing their project and membership opportunities. There is a $5 suggested donation. From the KCFC:

"Wouldn’t it be great to be just minutes from your favorite grocery store?  Wouldn’t it be great to completely trust that your store has your best interests in mind?  Wouldn’t it be great to have regular access to local fresh and organic foods at an affordable fair price?  It will be great! A handful of your neighbors, people not much different than you, came together in 2008 with the mission to open a member-owned cooperative grocery store in the Kensington area."

The Co-op is finally coming to fruition. See for yourself this Friday and lend your support, Kensington.

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30Aug/100

New Construction in Old Kensington: Meet the Builders Tour is Back!

The Meet the Builders Tour is back for September. The timing was right for two projects in Old Kensington that have been on our radar, and so, north of Girard we go!

Meet the Builders Walking Tour: Old Kensington

Thursday, September 9th 5:30-7:30 pm

1355 Mascher St

Come join us on a Fun Walking Tour of 2 Old Kensington New Construction Projects where you can actually meet the builder !

Meet builders, ask questions, get insider tips and rub elbows with the pros. Then stick around to enjoy 2nd Thursday in Old Kensington, a night of new art exhibits at nearby galleries, with a tour of Crane Arts Event Space.

Who should attend?

  • Rehabbers and Investors looking for tips
  • Those who are interested in learning about Old Kensington
  • Buyers looking for more information

To RSVP to this event, text your email to (215) 650-3454.

Your information will remain private and we do not spam.

Featuring 2 of the Latest New Construction Ventures in Old Kensington

The Flats at Girard Pointe - 1221-33 N 3rd St

Developer: JD International

Jeff Tubbs from JD International will be walking us through the Flats at Girard Pointe, a series of single family homes that combine eco-friendly design and arts-loving location into an affordable and customizable package.

Project details here.

1355-59 Mascher St

Speaker: David Gleeson

This dynamic new construction is artfully designed and is unlike any other new construction home in the area. Three units are available. For more information on 1355-59 Mascher St, view project details here.

We'll be unlocking the mysteries of Old Kensington for those that are curious about this inspiring and sometimes hard-to-define neighborhood. One of the owners of Crane Arts, David Gleeson, will be our speaker at the new Mascher Street properties. Gleeson is a niche investor rooted in the success of the neighborhood and not only does he invest here, he lives here. He is currently in the process of rehabbing a church in Old Kensington, which will become his new home.

Check out our last Meet the Builders Tour:

If you Build it, They Will Come: Meet the Builders Tour Recap

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30Aug/100

Beating the Odds at the Flats at Girard Pointe

The odds are at

1221-1233 North 3rd Street...

You'll find an urban oasis that's hard to beat.

Odds that meld 3 desires of today's urbanite: Eco-minded construction, an eclectic atmosphere to live in, a price that's not flat-out intimidating.  The Flats at Girard Pointe at 1221-33 North Second 3rd St. in Old Kensington are your chance to embrace the odd - Getting what you want for a price that's right in a creative and rapidly-growing neighborhood.  The highlights?

  • The Energy Efficient Features include Energy Star Appliances, light fixtures, and windows that will make the Flats 20-30% more efficient than standard homes. Built-in insulation with Superior Walls, WaterSense toilets and faucets, Tankless Water Heaters, and a Solar-Ready home to reduce installation costs of solar heating should you choose it in the future. Select from eco-friendly solutions for Countertops/Backsplashes, Zero Voc Paint, and Flooring types: Cork, Bamboo, or Carpet FLOR.
  • "Urban Topiary" Living Sculpture composed of over 100 digitally fabricated aluminum tubes with Boston Ivy designed to "bring a playful and energetic feeling to the neighborhood while weaving together public and private space."
  • 10 Year Tax Abatement
  • 1,500 + SF of Living Space
  • Off Street Parking Available
  • 1 -2 Bedrooms, 9 ft Ceilings
  • Balconies and Urban Garden Sanctuaries
  • Custom Landscaping and Sculptural Fencing by PrePost

$375,00

It appears that the odds are in your favor. Join us for a special tour of the Flats at Girard Pointe on our next Meet the Builders Tour in September. Details coming soon!

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30Aug/100

Sonata – A Northern Liberties Delight !

Sonata - A Northern Liberties Delight !

If you have not been to Sonata yet in Northern Liberties, you are in for a treat !  This BYOB has all you can ask for:  a great atmosphere, terrific service and delicious food !  When we were dining outside, folks walked by and exclaimed  "It is in the best food in Northern Liberties ! " And you know what ?  They may be right !

Stephanie and I definitely plan on going back to test other items on the menu.  The night we went we had the blackened  tuna and the sirloin steak for entrees and a wonderful clams casino soup for an appetizer.   The sirloin was so tender I could have sworn it was a filet !  Did I mention they also have a great brunch menu for Saturday and Sunday ?

Outside at Sonata - Northern LibertiesBlackened Tuna at Sonata - Northern Liberties

Sirloin Steak at Sonata - Northern Liberties

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27Aug/100

Opening Tomorrow: Three Potato Four.

We love the look of a few choice antique objects placed in a contemporary setting. At Three Potato Four, a home decor shop that opens tomorrow in Manayunk, you'll find such items along with vintage hardware, prints, signs, and more.  The shop, which started out online,  is located in an old mill along Shurs Lane, to add to the charm. It will be open on Fridays and Saturdays and by appointment only.

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