Real Estate
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EQT Exeter in Radnor Closes Fund, Focuses on Acquiring Industrial Property
EQT Exeter in Radnor has closed a $4.9 billion fund so it can take advantage of current market conditions and invest in industrial properties across the nation, writes Ryan Sharrow for Philadelphia Business Journal. The fund had exceeded a target size of $4 billion. EQT Exeter said it “believes that current conditions for acquisitions are…
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Wall Street Journal: Black Americans Are Leaving Northern Cities Like Philadelphia
Khary Minor grew up in South Philadelphia and has run a barbershop there since 2016. Now he’s looking to move, checking out houses in suburban Darby, writes Jimmy Veilkind, Jon Kamp, Paul Overberg, and Jack Gillum for The Wall Street Journal. “Better school district, nicer neighborhood, there’s not people out on every corner,” Minor said…
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Malvern Bank House of the Week: Stone-front Mansion in Haverford
An exquisite stone-front mansion with four bedrooms and three full and two half bathrooms is available for sale in Haverford. This stunning residence impresses right away with its grand foyer with a dramatic high ceiling, hardwood floors, and a beautiful staircase. The luxury ambiance sets the stage for the entire home. This property has been…
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West Chester’s BMW, Mini Dealership Purchased by Piazza Auto Group
An auto group in West Chester is dominating Wilmington Pike. Piazza Auto Group recently paid $30.7 million for the BMW of West Chester and Mini of West Chester. The 6.8-acre property, located near Penn Oaks Golf Club, originally opened in 1968, writes Paul Schwedelson for the Philadelphia Business Journal. Piazza purchased Mercedes-Benz of West…
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New York Post: Philadelphia House Built in 1728 on Nation’s Oldest Residential Street Available for Sale
A Philadelphia house built in 1728 on Elfreth’s Alley, America’s oldest residential street, with three bedrooms and one bathroom, has hit the market for $500,000, writes Mary K. Jacob for the New York Post. The home last sold three decades ago for $119,000. Constructed when the nation was still a colony, this residence is considered…
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Malvern Bank House of the Week: Exquisite Carriage House in Wayne
An exquisite carriage house on 3.34 stunning acres with five bedrooms and five full and two half bathrooms is available for sale in Wayne. This extraordinary treasure has been meticulously renovated and expanded over the years. It boasts many gorgeous details, including sun-filled living spaces with high ceilings, original restored millwork and moldings, and timeless…
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Low and Middle-income Buyers Face Shortage of Affordable Homes in Philadelphia Area
Despite plenty of available homes for sale at high prices, low- and middle-income homebuyers in the Philadelphia metro area are currently facing a shortage of affordable homes, writes Michaelle Bond for The Philadelphia Inquirer. “Ongoing high housing costs and the scarcity of available homes continues to present budget challenges for many prospective buyers, and it’s…
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Region’s Housing Market Stalled but Delaware County Homes Still Going Fast
The Greater Philadelphia housing market is stuck, except not really for Delaware County homes. Buyers aren’t looking due to rising prices and high mortgage rates. Sellers aren’t selling because they don’t want to give up mortgages refinanced at historically low levels during the pandemic. That said, buyers in the Philadelphia suburbs still need to be…
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Malvern Bank House of the Week: Fully Renovated Colonial for Sale in Chadds Ford
Steep yourself in history with this fully renovated 1900 Colonial-style home with four bedrooms and 3.1-baths available for sale in West Chester, Chadds Ford Township. The historic Brinton 1704 House is across the street and the 71-acre Brinton Run Preserve is just steps away. The home has been meticulously renovated by J. Stevens in 2021…
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Some Delaware County Families Opting Out of High-Priced Jersey Shore Rentals
A week at the Jersey Shore has priced itself out of the market for many families opting for cheaper vacations somewhere else, writes Erin McCarthy for The Philadelphia Inquirer. Kristin Bernstein, a nurse practitioner from Newtown Square, grew up going to Wildwood every summer. The 32-year-old was hoping to share that experience with her own…
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For Many Millennials Buying a Home Is Now Unobtainable
Buying a home has become more difficult for millennial couples who often find themselves priced out of the modern-day housing market. A house on the Main Line can run close to $1 million after prices jumped 37 percent last year, writes Caroline O’Halloran for Savvy Main Line. A 3,100 square-foot home in Wayne is currently…
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Malvern Bank House of the Week: Stone Manor Home in Wayne
A magnificent stone manor home on beautiful 0.96 acres with five bedrooms and four and a half bathrooms is available for sale in Wayne. Perfectly nestled at the end of a private lane, this stunning residence was built in the early 1900s and was meticulously renovated in the early 2000s. Highlights include an oversized center…
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Springfield Mall Owner Sees Strong Sales and Mall Occupancy, But a Large Debt
PREIT CEO Joseph F Coradino reports the firm is seeing high mall occupancy, strong sales, and foot traffic closer to 2019, levels, Even so, PREIT, owner of the Springfield Mall, and the largest mall owner in Pennsylvania. is doing everything it can to reduce a nearly $1 billion debt load coming due at the end…
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Delco Fun Fact: We Have the Most Expensive Neighborhood in Pennsylvania
CashNetUSA has declared a Delaware County community to be the most expensive neighborhood in all of Pennsylvania, writes Matt DiSanto for Centre Daily Times. The online lender used data from Zillow, an online real estate platform, to track the most expensive neighborhoods in each state and it listed Villanova as Pennsylvania’s most expensive. To those…
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Malvern Bank House of the Week: Updated Colonial in Swarthmore
An exceptional updated colonial home with six bedrooms and three full and two half bathrooms is available for sale in Swarthmore. The Colonial residence is perfectly nestled on a beautiful, elevated private lot landscaped with gorgeous specimen trees, plantings, and shrubs which provide highly-coveted privacy. The home is approached on an inviting stone walkway and…
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Supersize Homes, Supercharged Rental Market Putting Seven Mile Island Out of Reach of Everybody but Richest Buyers
Supersize homes and a sizzling residential market are making the Seven Mile Island resort towns of Avalon and Stone Harbor affordable only to the most affluent buyers, writes Ryan Mulligan for the Philadelphia Business Journal. A constant addition of new construction is inflating both the size and price of homes. The new houses often have…
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Let AI Pick Your Next Home. Wayne Firm Launches HomegeniusIQ
Homegenius Real Estate, a subsidiary of Radian Group in Wayne, has unveiled an Artificial Intelligence (AI)-powered home search portal to help homebuyers and sellers. Through the portal, www.homegeniusrealestate.com, searchers get an “unprecedented level of property intelligence about active listings,” states a release. The proprietary artificial intelligence uses image recognition and computer vision technology, analyzing real…
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10 Delco Communities Make ‘Hottest Neighborhood’ List for Home Value
Ten Delaware County communities made a Philadelphia Magazine ‘hottest neighborhood’ list of the Philadelphia region’s priciest properties and most expensive neighborhoods in 2022. Here, in descending order of value, are the 10 most expensive Delco communities and the percentage increase in home values. Villanova homes have an average price of $1,405,133 and rose in price…
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