philadelphia townhomes

Philadelphia Real Estate Market Booming – Price Points Go Up

townhome exteriorAll signs are pointing to another banner year for residential real estate in the Philadelphia region, according to a recent report by Berkshire Hathaway Home Services Fox & Roach. Low interest rates coupled with an increasingly robust economy means more people are snapping up properties with favorable mortgage terms.

Research shows that houses aren’t staying on the market nearly as long as they were just a couple of years ago. Philadelphia properties took an average of 78 days to sell last year, down from 98 days in 2012. The report also shows a rise in median sales prices across several counties, with Chester County the highest of them all with an average selling price of $305,000.

The HomeExpert report also reveals dwindling inventory compared to last year, leaving some homebuyers with little choice.

New homes near Philadelphia at Darley Green

With price points slowly creeping upward and less selection from which to choose, lots of people are beginning to hunt for their dream home in nearby markets, where $225,000 goes so much further in the way of space, comfort and curbside appeal. In reality, most new homes near Philadelphia are not only more affordable, they’re more luxurious.

There is perhaps no greater example of this in the Tri-State region than the master-planned community of Darley Green, where move-in ready homes feature tons of upscale touches, like gourmet kitchens with gas ranges, luxury master baths, 17-foot ceilings and built-in services like professional landscaping. You’d be hard-pressed to find a 2,500 square foot Philadelphia townhome with these perks at such a low price.

Darley Green’s central address in Delaware’s Claymont Renaissance District, just a 20-minute drive from Philly, ensures you won’t be sacrificing on location. On the contrary, homeowners are thrilled with the convenience of quick access to major thoroughfares I-495, I-95 and the Philadelphia Pike. Residents who commute daily can also rely on the SEPTA R2 line, the Amtrak Station and the Claymont commuter train – all just a few minutes away.

According to Darley Green homeowners, it isn’t just the location or amenities that make this neighborhood so special: it’s the family-like feel of a tight-knit community that truly cares for its residents. Neighbors can enjoy an afternoon jog on manicured trails, kids can play outside under the shade of trees, and friends can chat over coffee at one of the many onsite restaurants and eateries.

And being so close to the revitalized Wilmington Riverfront ensures plenty of entertainment and recreation for the young and young-at-heart, with excellent dining and nightlife, plus kid-friendly activities.  The city is also renowned for its vibrant arts and culture, including local theater companies that present main stage productions throughout the year.

Looking for peace and comfort? Explore Delaware living!

To learn more about the many benefits of homeownership at Darley Green, please give us a call to schedule a home tour today. You can reach our Information Center at 302.655.2600, or swing by any time between 11 am and 5pm to explore your potential new home in Delaware.

Resources:

BizJournals.com, Philadelphia-area homes selling at fastest pace in three years, http://www.bizjournals.com/philadelphia/blog/real-estate/2015/02/philadelphia-area-homes-selling-at-fastest-pacein.html

Philadelphia Townhome Buyers Swayed By More Than Just Interest Rates

Philadelphia townhomesThere’s good news for people in the market for Philadelphia townhomes or single family residences: the 30-year fixed mortgage rate shouldn’t break 5 percent this year. However, industry observers say there is more to a home buying decision than the interest rate.

“Consumer confidence and perception of the economy as a whole have a greater effect on residential real estate than whether the rates are at 4 or 6 percent,” Jeff Block, a Berkshire Hathaway Realtor, told Philly.com. In fact, he said, the hottest market in the last decade corresponded with the highest interest rates.

Here at Montchanin Builders in nearby Delaware, we see a number of buyers from Philadelphia, whether the interest rates are high or low.

Why do people buy homes for sale in Philadelphia?

Greg McBride, a chief financial analyst at Bankrate.com, believes the mortgage rates will hover between 3.75 and 4.25 percent this year. The lower interest rates benefit first-time homebuyers most. “In many cases, interest rates may be the difference between renting and buying,” explained Coldwell BankerAgent Frank Dolski. Similarly, this group may be motivated to jump into the housing market if they observe a slow-rising interest rate, fearing that they may be missing out on the best deals. A one-point interest hike may not seem like a big deal, but over a 30-year period, the principal and interest actually goes up by about 12 percent.

Other factors affecting home purchase habits include:

  • Downpayment requirements: In December, Fannie Mae and Freddie Mac announced a 3% down for qualified first time buyers.
  • Mortgage underwriting requirements: According to the “Mortgage Lender Sentiment” survey conducted by Fannie Mae, the number of lenders who have tightened their credit standards has dropped from 28 to 13 percent from the third to fourth quarter of 2014.
  • Household incomes: This has remained largely stagnant in 2014, with the median household income in Philadelphia County hovering around $37,192, according to the U.S. Census Bureau.
  • Consumer confidence: Nationally, consumer confidence hit an 11-year high this month, due to plunging gas prices and improved job markets. Retail data suggests a 3 percent jump in consumer spending this year.

Ultimately, job growth and increased incomes are needed to see a strong local real estate market as a whole, but we are seeing a steady stream of first time homebuyers with the means to purchase, especially when they see a great deal!

Looking at Philadelphia townhomes? Try Darley Green instead!

No matter what the interest rate may be, prospective buyers looking at Philadelphia real estate are attracted to Montchanin Builders’ Darley Green neighborhood for access to tax-free shopping, close proximity to amenities, and to get more space for their dollar. Our Delaware townhomes, condos, and custom homes are sophisticated and stylish, with generous features like spacious walk-in closets, and up to 2,500 square feet of living space.

Located just 20 minutes from Philadelphia, our neighborhood is a convenient commute for anyone looking at homes for sale in Philadelphia, but considering other options. With no sales tax, no inheritance tax, no tax on social security benefits, reasonable property taxes, and a very modest state income tax, Delaware is among the five U.S. states with the lowest tax burden.

For more information about Darley Green’s move-in ready homes, please contact Sales Manager Amy Maluski at 302.655.2600.

New Year’s Eve In Philly: Fireworks Gala to All-Nite Dance Parties

Philadelphia City HallThere’s something for everyone on New Year’s Eve in Philadelphia. You’ll find everything from funky arts festivals to extravagant feasts aboard sailing vessels. Family-friendly events are just as plentiful as all-night dance parties.

Delaware townhomes by Montchanin Builders are located just 20 minutes from all the action in the heart of Philadelphia. Our residents enjoy added benefits like no sales tax and better value for their real estate dollar. We’ll count down just a few of the top New Year’s Eve celebrations in Philly — all minutes from the doorsteps of the residents of Darley Green .

SugarHouse New Year’s Eve Fireworks on the Delaware River Waterfront

Shows take place at 6 p.m. and midnight, allowing fireworks fans of all ages the opportunity to celebrate. The best places to catch a view of the spectacular show include: the Blue Cross RiverRink Winterfest party at Penn’s Landing, the Independence Seaport Museum, the Hyatt Regency at Penn’s Landing, the SugarHouse Casino, Adventure Aquarium, and Franklin Square. Also consider watching the show from the water aboard the legendary Moshulu sailing vessel, the Battleship New Jersey, or the Spirit of Philadelphia cruise ship.

New Year’s Funkin’ Eve at FringeArts

FringeArts is one of the newer celebrations on the Waterfront with “all the funk you can handle” from live performances by Red40 and the Last Groovement. A $15 ticket also gains you entrance to a beer garden, bonfire, balloons, and dinner specials at La Peg. Once the fireworks are over, the party continues with an all-night dance party.

Revolution House

Dance all night on a heated outdoor deck in Old City, amid excellent views of the fireworks over the Ben Franklin Bridge. For $20, enjoy drink specials, music, dancing and a champagne toast at midnight.

XFINITY Live! Philadelphia

One admission gets you into seven parties under one roof, with a bonus tent outdoors! You’ll be treated to five hours of open bar, live music from Lima Bean Riot and Split Decision, special party favors, and New Year’s bash coverage on over 75 TVs.

Club Vetri at Alla Spina

Looking for something all-inclusive? For $120-$140, Alla Spina offers an open bar with Yard’s drafts, cocktails from Philadelphia Distilling, and a champagne toast. Food includes all your Vetri family favorites — Osteria’s Fiorentina steak, Lo Spiedo’s roast brisket, Amis’ bruchetta, and Pizzeria Vetri’s pizza al taglio. A live DJ and dancing will send off 2014 with a whirlwind of fun.

New Year’s Eve Midnight Run 5K

Fitness buffs won’t want to miss the annual Philadelphia New Year’s Eve Midnight 5K Run, starting at McFadden’s at the ball park in South Philly. Runners can pick up their packets as early as 9:30, but the race kicks off at midnight. The $60 registration includes admission to McFadden’s after the run, with open bar and food. Space is limited to 750. Cash prizes are awarded to the fastest man and fastest woman racing in formal attire.

Delaware Townhomes by Montchanin Builders

Kick off the New Year in a brand new home! Our community is a serene place to call home – with tree-lined streets, communal green space, walking trails, and a stream. Shopping, dining and a state-of-the-art library are all within walking distance, as are schools in the Brandywine District.

Our Delaware condos and townhomes come with two-car garages and up to 2,100 square feet of living space in traditional style homes updated with modern features. Described as “affordable” and “charming,” Darley Green represents community planning at its finest. Call 302-655-2600 for more information.

Holiday Attractions Await Wilmington Residents

holiday shopping in wilmingtonDarley Green is a peaceful community with traditional architecture, small town comfort, and modern amenities. Inside these luxurious townhouses in Wilmington, you’ll find up to 2,500 square feet of living space, including gourmet kitchens, spacious walk-in closets, Colonial doors, recessed lighting, marble vanities, luxury master bath soaking tubs, a kitchen island, a gas fireplace, and other high-end features.

Many savvy buyers choose Montchanin’s townhouses for sale in Delaware not just for the wonderful features (for an affordable price starting in the $200s!) – but also for the convenient location, 20 minutes from Philadelphia and right in the heart of Wilmington, Delaware’s holiday traditions. Here are a few of our favorites…

Nemours Mansion & Gardens Holiday Tours

Wilmington, Delaware is known for the preservation of large, grand manors and historic estates. The Nemours Mansion and Gardens is a breathtaking 300-acre country estate designed in the late-18th-century French style. During the holiday season, the 70 rooms are decorated with a gingerbread house copy of the mansion, Christmas trees, historic toys, ornaments, holiday wreaths, and more. Tours whisk purveyors back in time to experience the decadence of Christmases past.

Longwood Gardens

The 1050-acre Longwood Gardens provides a dramatic holiday experience inside and out. Thousands of poinsettias, Christmas pines, and fragrant flowers transform the indoor gardens, while half a million enchanting LED lights and illuminated fountain displays set to music dazzle crowds outside. This holiday seasons, a festive Peacock Masquerade Ball decorates the main room.

Wilmington & Western Railroad Holiday Trains

The Wilmington & Western Railroad boasts one of the nation’s oldest steam-powered locomotives. Every holiday season, you can hop aboard two themed holiday trains. The Holiday Lights Express takes you past decorated homes on a 45-minute journey in the heated 1929 doodlebug railcar that has been specially decorated in thousands of lights. The Santa Claus Express is a 90-minute trip to Ashland with Santa Claus who poses for photos and gives all children a chocolate treat.

Caroling in the Square

Every year, the mayor of Wilmington invites the public to caroling. Starting at the new Peter Spencer Plaza, carolers will make their way to The Grand Opera House and conclude with a Christmas Tree lighting ceremony in Rodney Square. Attendees carol by candlelight and join voices from the Wilmington Children’s Chorus, the Canaan Baptist Choir, and Luz y Verdad. Children are invited to write a letter to St. Nick and give it to Santa’s Helpers. Complimentary hot cocoa and candy canes will be handed out. This year’s event will take place on Tuesday, December 10th at 6:30 pm.

Fabulous holiday shopping in Wilmington

Popular places to shop include the boutiques at Greenville Center, Greenville Crossing, and Powder Mill Square. Best of all, Wilmington holiday shoppers are in luck, with cheaper prices due to no Delaware sales tax! Fifteen minutes from Wilmington in Newark, the Christiana Mall is the premier shopping destination. The complex is anchored by Macy’s, Target, Cabela’s, and Nordstrom, and boasts over 100 stores. For the holiday season, they offer photos with Santa. Wilmington’s Concord Mall is anchored by Boscov’s, Macy’s, and Sears, with about 100 retailers. During the holidays, there are child and pet photos with Santa.

Learn more about Darley Green’s townhouses in Wilmington

Montchanin Builders is pleased to offer affordable priced condos and townhomes at Darley Green, close to many holiday happenings and treasured Wilmington tourist attractions. For more information or to book a tour of our available residences, please call 302-655-2600.

Family-Friendly Philadelphia Holiday Events

Christmas tree in downtown PhiladelphiaSeasonal celebrations make December in Philadelphia the most wonderful time of the year. With family-friendly festivities and more twinkling lights than you can shake a stick at, Philly’s iconic attractions and new winter time events are getting everyone into the spirit of the season.

If ice skating, waterfront shopping and mind-blowing light shows sound exciting, then make sure to take note of the following holiday events – many of which are free!

2014 holiday events in Philadelphia

Here’s a round-up of some of the most popular holiday events that are sure to warm your heart and dazzle the kids during this chilly season.

Macy’s Christmas Light Show – a time-honored tradition for nearly 60 years, this light show spectacular at Macy’s in Center City delights with more than 100,000 LED lights, and a Dickens Village replete with animated figures that bring “A Christmas Carol” to life. Runs from November 29-December 31, 2014

Franklin Square Electrical Spectacle Holiday Light Show – Inspired by the brilliant mind of Ben Franklin, this free show illuminates the square with more than 50,000 lights of varying colors, shapes and designs. Best of all – it’s free! The light show, which runs through December 31, is just one of a series of events in the Franklin Square Holiday Festival, which also includes a holiday market and popular winter beer garden.

RiverRink Winterfest – Penn’s Landing is the site of this revamped holiday fest, which features ice skating in a regulation-sized rink, gourmet food and drink, tons of shopping and family-fun on the Delaware waterfront. Watch thousands of lights – perfectly synced to music – dance across the park, and warm-up your mitts in a heated-chalet tent with indoor fireplace.   

Shopping at Philly’s Christmas Village –It doesn’t get more charming than this European-inspired village that attracts thousands of holiday-goers through December 28. Pick up high-end arts and crafts, traditional Christmas ornaments from Germany and other seasonal gifts. While you’re shopping, be sure to try some hot spiced mulled wine, bratwursts and delicious gingerbread.

Reading Terminal Market Holiday Railroad – This foodie paradise in Philadelphia ramps up for the holiday season with a 500 square-foot railroad in its own piano court. Kids of all ages can marvel at 14 train lines making their way through a miniature version of Center City and the countryside. November 28 – December 31 

Rittenhouse Square Tree Lightning – Each year on December 1, thousands of Philadelphia residents and visitors head to this historic landmark to witness the ceremonial lighting of a 30-foot Christmas tree – one of the city’s largest. During the holiday season, the shops along Rittenhouse Row are aglow with thousands of lights, adding to the festive feeling.

A smart alternative to Philadelphia homes for sale

Darley Green, which features move in ready homes near Philadelphia, is less than half an hour from the seasonal festivities of Philly. This innovative master-planned community is one of the most sought after destinations for families, retirees and young couples who want to be close to the night life, shopping, and recreation of the big city, but want more bang for their buck and an easy commute. 

Luxuriously-appointed three-story townhomes and two-story condos are attractively priced for new homebuyers who want a central location just five minutes from Wilmington, and in a family-friendly neighborhood. If you’ve been disheartened by Philadelphia homes for sale and would like to learn more about Darley Green, please give us a call at 302-472-7213 to schedule a home tour today!

Philly’s Top 5 Historic Attractions

Colonial estates, Independence Hall, fascinating museums and a nearly 200-year-old penitentiary: The City of Brotherly Love features some of our nation’s most notable historic landmarks.

Philadelphia is widely considered the birthplace of America – the city where our Founding Fathers signed the Declaration of Independence. Today’s historic Philadelphia offers insight into our country’s early history, whether you’re visiting the Liberty Bell Center or exploring the cavernous and decidedly creepy Eastern State Penitentiary, once the world’s most famous high-tech prison.

Also renowned for its vibrant culture and sizzling nightlife, Philly is a short jaunt from several bedroom communities, where commuters simply hang their hats for the night. For those searching for move in ready homes near Philadelphia that have real heart and soul, Darley Green offers the best of both worlds. These new construction condos and townhomes are just 20 minutes from Philadelphia’s historical landmarks, but are also situated close to Claymont’s own cultural attractions and family-friendly points of interest.

Ideally located in Delaware’s burgeoning Claymont Renaissance District, this elegant master-planned community puts recreation, entertainment and excellent schools all within reach.

Philadelphia’s top 5 historic attractions

Though far from exhaustive, this list includes some of the most popular historic attractions in Philadelphia that are sure to delight weekend travelers and history buffs alike.

  1. Independence Hall – Take an interactive tour of this red Georgian style building dating back to 1753. Part of the independence National Historic Park, the building is where both the Declaration of Independence (1776) and our U.S. Constitution (1787) were signed and adopted. Open daily, tickets (free or $1.50 if purchased in advance) are required for admission.
  2. Liberty Bell Center – Boasting millions of visitors every year, the Liberty Bell Center is just a block away from Independence Hall, and stands as a timeless symbol of our nation’s independence. The pavilion also includes exhibits and videos about this iconic bell, explaining its origins and how it became a worldwide symbol for freedom.
  3. John Bartram House – Spanning more than 46 acres, this estate features our country’s oldest surviving botanical gardens, overlooking the west banks of the Schuylkill River. The original stone house was erected circa 1730, and served three generations of Bartrams (Quakers), who planted and tended a vast collection of North American trees and flowering plants.
  4. Betsy Ross House – A $7 ticket grants you a guided tour to the birthplace of our beloved American Flag, where entrepreneur and seamstress Betsy Ross crafted our stars and stripes. The house was built more than 250 years ago and was home to several artisans before opening to the public as a museum.
  5. Eastern State Penitentiary – This hulking castle of a prison is somewhat incongruous on stately Fairmont Avenue. Made a national historic landmark in 1965, ESP was built to reform rather than punish, and was opened in 1829 as the world’s first high-tech penitentiary. Daily tours of spine-chilling isolation cells, which held Al Capone for a time, are available with audio narration done by actor Steve Buscemi.

Move in ready homes near Philadelphia

Want to be close to all the action, but in a neighborhood with its own character and charm? Darley Green’s move-in ready condos and townhomes near Philadelphia are attractively priced. Framed by wide, tree-lined streets and serene green areas, this inviting community has so many perks, including several modern floor plans, an onsite state-of-the-art library, as well as eateries and shops within walking distance.

To learn more about the benefits of Delaware living at Darley Green, or to arrange a tour of our model homes, please call Sales Manager Amy Maluski at 302.655.2600.