Real Estate Law Archives

Pennsylvania House OKs real estate tax breaks

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Real Estate Law on May 30, 2015.

Many homeowners in Philadelphia have felt the burden of the Actual Value Initiative, which calculates a homeowner’s property taxes based on the property’s market value. The initiative, which launched in the 2014 tax year, caused an increased tax rate for many people living in the city.

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With condos and co-ops … conclusion

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Real Estate Law on May 13, 2015.

We are finishing up our discussion of the differences between condominiums and cooperatives. It’s an important difference if you are purchasing a home, and it’s important if you are looking for an investment property. It is also important if you are looking to buy up a block of buildings in any given Philadelphia neighborhood to put up an office tower or grocery store — will you have to negotiate with one person or business or with multiple homeowners?

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With condos and co-ops, ‘common’ may not mean ‘shared’ p2

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Real Estate Law on May 7, 2015.

Not everyone is familiar with the concept of a homeowners association fee. If you watch HGTV shows like “House Hunters,” or if you live in a planned community, you may be familiar with the sometimes annoying restrictions that HOAs put on their members. There may be preferred paint colors, for example, for exteriors of homes and outbuildings; some HOAs dictate what color a homeowner can paint his front door. If your lawn is not edged just right, you may hear from the HOA. The monthly dues may not be high, but the expectations are.

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With condos and co-ops, ‘common’ may not mean ‘shared’

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Real Estate Law on May 4, 2015.

Not every real estate investor is Donald Trump. And that’s a good thing. Trump’s public persona aside, his reputation is for large-scale developments that only a fraction of individual investors can really afford. In some cases, he may be competing with hedge funds or financial institutions, certainly. The point is, though, that there are other investors out there that would like to build their portfolios slowly or that may just want to see if being a landlord is for them.

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Thoughts from a successful Philadelphia real estate investor

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Real Estate Law on Apr 3, 2015.

Investing in real estate can be a lucrative career option, and many people have found ways to do it successfully. Real estate investment, however, is not without risk. One bad deal can end everything. For this reason, one of the best ways to position yourself for success in real estate investment is to learn from others who have experience.

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Kelo didn’t quite work out the way supporters thought it would p2

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Real Estate Law on Mar 26, 2015.

The tenth anniversary of the U.S. Supreme Court case Kelo v. City of New London is approaching. In June 2005, the court handed down a decision that had the potential to change eminent domain law across the country. A group of property law attorneys got together recently to discuss and to analyze whether Kelo had the kind of impact everyone expected — or was afraid — it would have.

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Kelo didn’t quite work out the way supporters thought it would

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Real Estate Law on Mar 24, 2015.

Earlier this year, we were talking about the dispute between artist James Dupree and the Philadelphia Redevelopment Authority. The city had identified a block in Mantua that would be perfect for a grocery store. Dupree’s building was the only habitable one, and the city attempted to evict him and raze the building. Eventually, Dupree prevailed.

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How much longer can Philly dodge its vacant property problem? p3

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Real Estate Law on Mar 19, 2015.

We are finishing up our discussion of the city’s vacant properties and proposals regarding the Department of Licenses & Inspections’ need for more inspectors. Keeping up with Philadelphia’s enormous inventory of crumbling buildings has proved difficult for the existing 56 L&I employees, and Mayor Michael Nutter’s proposed budget includes funding for more. Even if the money is approved, though, the new hires will only be half as many as the City Controller’s Office recommended in its January report.

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