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Hot Off The Press Local News in Pa and Philly Read All About It

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Real Estate Agent with HomeStarr Realty RS143922A

 News Brief for this week!  I hope you find this information Helpful

PA’s lead pipe problem is one of the worst in the nation.
Pittsburgh and Philadelphia alone report 29,000 and 25,000 lead pipes, respectively, and a report from the Natural Resources Defense Council noted that its numbers underestimate the problem due to a lack of data. The council report estimated that more than 660,000 service lines in Pennsylvania contain lead. “In a new level of detail, we see a pervasive problem with cities and towns, big and small, across the country that have documented where people are drinking through what amounts to a lead straw and where we do not even know the pipe materials,” the report authors wrote. In recent years, state and federal funds have provided money for lead pipe removal. In January, Gov. Josh Shapiro announced $200 million for water system upgrades and lead pipe removal. The commonwealth received $300 million in 2022 for water infrastructure projects. State legislators have also pushed for more state funding.

Source: Daily Local; 9/30/2024

 

HelpfulHannah

 

A  new bill would allow Philly to sue landlords for price-fixing.
Philadelphia City Council is weighing legislation that would formally bar landlords from “price-fixing” rental rates, an illegal practice housing advocates say hurts low-income renters by undermining competition and fairness in the marketplace. The measure is designed to stop corporate landlords from using revenue management software like RealPage to coordinate monthly rents. “Price-fixing through an algorithm is still price-fixing. It’s still illegal, and we ain’t going to allow it in Philadelphia,” Councilmember Nicolas O’Rourke said during a news conference. If passed, the city could file suit on behalf of tenants and impose stiff fines on landlords who violate the law. Renters could also sue landlords directly. Under the measure, violators could be forced to pay $2,000 per violation. Each “prohibited action” would be counted as a separate violation, and the fine would be imposed for every day it “occurs or continues.” O’Rourke’s bill is inspired by legislation passed last month in San Francisco. Last month, the U.S. Department of Justice filed suit against RealPage in partnership with the attorneys general of North Carolina, California, Colorado, Connecticut, Minnesota, Oregon, Tennessee, and Washington.
Source: PlanPhilly; 9/26/2024 

 

Philadelphia’s office buildings have lost over $1 billion in assessed value.
The assessed value of Center City office buildings fell by over $1 billion in recent years, the Office of Property Assessments (OPA) reported to the city council. That spells trouble for Philadelphia’s tax revenue. OPA stated that the assessed value fell from $9.82 billion in the tax year 2023 to $8.78 billion in the tax year 2025, amid persistent office vacancies and recent transactions that have seen buildings selling far below their previously assessed value. “There are a lot of buildings in Center City that are considered to be distressed and several buildings that are in bankruptcy,” said Councilmember Jeffery Young Jr., who called the hearing and represented much of the Center City office district. “Our tax base depends on Center City.” Center City’s vacancy levels have been around 20% for over a year — more than double pre-pandemic rates — as many firms downsize their office space for the era of hybrid work. The potentially most significant blow to the city is falling commercial real estate property tax revenues as owners challenge their valuations. 
Source: Philadelphia Inquirer; 9/30/2024

 

Details emerge of Mayor Parker’s deal for Sixers arena.

Mayor Cherelle L. Parker revealed the terms of the deal she negotiated with Harris Blitzer Sports Entertainment in the months since she entered office. Highlights include a provision allowing the company to skip property taxes on the $1.55 billion Market East development in favor of annual payments in lieu of taxes that average $6 million per year and a $50 million community benefits agreement (CBA). Parker said about half of the CBA funds will go to affected neighborhoods near the arena, and that 70% of the $50 million will be spent within the first decade of the agreement. Of the total, $3.75 million worth of benefits will go to the city through in-kind donations of event space or game tickets.

Source: Philadelphia Inquirer; 9/30/2024

Your Local Real Estate Expert. 

Hannah Williams 

HomeStarr Realty 

215-355 5565

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Hannah Williams is known throughout Philadelphia as HelpfulHannah – and if you’ve spent more than five minutes with her, you know exactly why. She’s an expert at anticipating people’s needs, she has a real feel for real estate, and she’s an accomplished problem-solver.

Hannah has been helping people buy and sell homes all over Philadelphia since 1984. Many of her clients purchased their first, second and even third homes with her expert help, and Hannah wouldn’t have it any other way.

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Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

So much going on in PA nationally and locally even more so! Good luck, Hannah! I expect good things!

Oct 08, 2024 09:28 AM
Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

How in the world could they prove collusion by landlords??   GO PHILLIES !!!

Oct 08, 2024 09:52 AM
Michael Elliott

Oh gotcha Hannah Williams 

Oct 08, 2024 10:04 AM
Hannah Williams

Michael Elliott  : I have no clue, but it seems like other states are already doing the same. I believe this is for corporate landlords. 

Oct 08, 2024 09:57 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Laura Cerrano  : It certainly is nice to keep the Sixers, but the people of Chinatown are very unhappy, and I can understand. Many think the traffic is too congested  now  . 

Oct 08, 2024 09:54 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Hannah and interesting what is in your paper but I missed the part about the Phillies  lol

Oct 08, 2024 09:58 AM
Hannah Williams

Will Hamm: Nothing here about the Phillies; they won !

Oct 08, 2024 10:54 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Hannah,
All we need is another way to sue someone. Assuming Philly is experiencing a housing shortage like most everywhere else, I don't see any need to price fix. There would be a bigger chance of the city putting on rent increase limits.  Maybe they need to spend some money converting those underutilized office buildings into housing.

As for the lead pipes, I can't believe those haven't been replaced yet.

Oct 08, 2024 10:01 AM
Hannah Williams

Carol Williams: Converting those buildings into condos would be a great idea and ideal. Remember, Philadelphia is a very old city. The development I live in was built in the 1970s and has old pipes, and the NE is a newer section of some of the city. We are starting to experience problems with which pipes are lead and which pipes are new. Who knows ?

Oct 08, 2024 11:00 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Hannah, Philadelphia has certainly been making headlines lately for a variety of reasons. It can be overwhelming when so much seems to be happening all at once. It might take time, but staying optimistic about the future can help make the transition smoother!

Oct 08, 2024 10:15 AM
Hannah Williams

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 Exactly, and we need to stay informed as Philly is a beautiful City with so much History 

Oct 08, 2024 11:03 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Thanks for sharing, make it a great Tuesday and enjoy your week!

Bill Salvatore, Realtor- Arizona Elite Properties

 

Oct 08, 2024 10:49 AM
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Hannah, thanks for the news updates from PA. Where is Ben Franklin when we need him! Jeff

Oct 08, 2024 10:59 AM
Hannah Williams

Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI  Gone but not forgotten.  People would remember,  " A  penny saved is a penny earned." That is why I am saving pennies. I heard a rumor they might stop making them 

Oct 08, 2024 11:16 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Bill Salvatore - East Valley  Thank you for taking the time to listen, and you enjoy the rest of your Tuesday also. 

Oct 08, 2024 11:05 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
The best agent in Southern Utah!

Pipes are being replaced on the street that my brother lives on at the present time in Pittsburgh. If I inherited apartment buildings, I'd sell them quickly because I lack the patience for managing (babysitting) tenants, Hannah!

Oct 08, 2024 01:23 PM
Hannah Williams

Wanda Kubat-Nerdin - Wanda Can! @one time, I managed 40 townhomes in Bensalem. It wasn't easy, but it wasn't hard, and the seller was slowly liquidating each year. He was a pleasure to work with .

Oct 09, 2024 08:07 AM
George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Hannah now that the news is out about the lead pipes, I would expect a ton of law suits to follow.

Oct 08, 2024 05:51 PM
Hannah Williams

George Souto Perhaps, but actually, I think everyone knew this. There are streets with giant sink holes .

Oct 09, 2024 08:09 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

I find it sad that everyone is so busy trying to take legal action against landlords, how about addressing the issues. Here in California especially Los Angeles they are trying to go after landlords as well who is going to benefit? not the tenants...Endre

Oct 08, 2024 10:27 PM
Hannah Williams

Endre Barath, Jr. My client base of investors is lower than it used to be. This law, however, is for corporate landlords. The scales are not balanced. This is true  

Oct 09, 2024 08:12 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Hannah - thank you for sharing this news from the Philadelphia area and the commonwealth of Pennsylvania.  Our country and many of our communities continue to grow in age.  Hopefully solutions are part of any plan.  Emphasis, again, on "hopefully".  

Oct 09, 2024 03:27 AM
Hannah Williams

Michael Jacobs, we need to ponder and have patience. Unfortunately, lead pipes were once thought to be a safe solution to running a water system through a city, Philadelphia being one of the oldest and largest. Goodness gracious, they are all underground, also. It's not an easy Task. 

Oct 09, 2024 08:20 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

It seems that we can't trust the water that we are provided by the government at all, which is why I buy spring water to drink, haha.

Oct 09, 2024 06:19 AM
Hannah Williams

I also get reports from Philly Water about cleaning the water; the giant water cleaning systems are massive. People are invited to come and visit. You will see a difference in your teeth when you stop using Philly Water. 

Oct 09, 2024 08:27 AM
Hannah Williams

Brian England, I do, too, but just as we all used Teflon to fry our eggs at one time as kids, we drank water from our hoses after playing ball. We are already drunk. 

Oct 09, 2024 08:23 AM
Roy Kelley
Retired - Gaithersburg, MD

This is good information to share with area residents. Some still need to replace the old lead pipes.

Oct 09, 2024 09:46 AM
Hannah Williams

Roy Kelley, More than not, needs to be replaced. The Philly area and surrounding suburbs are enormous. There are so many pipes and all underground plus sinkholes 

Oct 11, 2024 11:31 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Hannah,

Many of our cities and aging and these pipe replacements need to be at the top of the list to be addressed. So much has been going on in Philadelphia. it's best to do as Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 commented "staying optimistic about the future can help make the transition smoother!"

 

Oct 11, 2024 04:30 AM
Hannah Williams

Dorie Dillard Austin TX  Our new mayor is a real firecracker; she fights to get the jobs done. 

Oct 11, 2024 11:33 AM