Posted by: Bob Wiley | June 19, 2017

Featured Home

3601 Cobblestone Ln

3601 Cobblestone Ln., Whitehall

Must See! Gorgeous corner lot in Whitehall School District with open concept floor plan. Features modern Kitchen with hardwood floors, new appliances (refrigerator is negotiable) and an eat-in Dining area. A nice size Living Room with new carpet, a working fireplace and allows walk-out access to the back deck and wide open back yard. First floor also features a carpeted Family Room, Dining Room with brand new tile flooring, half bath and entry to attached 2 car garage. Second level has 4 Bedrooms, the main full Bath and Laundry Room. Don’t forget about the Master Suite with full Master Bath including a double-vanity sink, bathtub and separate stand-up shower. Master suite also includes large walk-in closet. Basement is full but unfinished. The home comes with a brand new water softener and water heater that is just a year old. This one is too good to pass up so schedule your showing today and bring in an offer!  $319,500

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Posted by: Bob Wiley | June 12, 2017

Home Maintenance Tips

 

Whether it’s spring, summer, fall or winter, it’s important to take the necessary steps to keep your home standing tall every day

Gutter Clutter

It’s always important to make sure that the gutters on your roof are cleared, but it’s especially necessary during the autumn months.  During this time, trees begin to change and leaves begin to fall, which means your gutters can easily become clogged.  If this happens, it could prevent rainwater from properly draining and may even result in damage.  It’s also important to check your gutters throughout the year for a buildup of ice, dirt and other elements that may create a blockage.

Shingle Care

If your roof has shingles, you probably already know that spring is the best time to check for damage.  After the winter is over, it’s important to check your roof for any damage that may have resulted from heavy snow and/or a buildup of ice.  In addition, it’s essential that you check for damaged shingles after a storm.  If you notice one or more that needs repaired or replacing, choose a day with no rain in the forecast.  Otherwise, you will be dealing with a roof repair on a slippery surface.

Heating & Cooling How-To

It’s important to maintain both your heating and cooling units to ensure their longevity.  One way of doing this is to replace filters annually or earlier if needed.  This not only helps to keep your home’s air cleaner, but it also protects your heating or cooling unit from malfunctioning due to improper filter maintenance.

How To Spot Roof Leaks

If you suspect a leak but aren’t quite sure what to look for, you’re not alone.  Although some signs, such as water spots on the wall, ceiling or floor, are obvious, not every indication is that clear.  Possible signs that you may have a leak include a weak floor or damp carpet.  If you detect either of these warning signs, consult a professional roofing expert to help find the problem and correct it as quickly as possible.  If left untreated, a roof leak could damage the structure of the home by weakening the frame or, in some cases, even creating a problem with mold and moisture buildup.

Detector Detective

It’s important to check your smoke detectors regularly to ensure that they are working properly and ready to alert your family if needed.  Always make sure that the batteries in each unit are working and replaced on a regular basis.

Posted by: Bob Wiley | June 9, 2017

Featured Listing

IMG_2193

1729 W. Tilghman St., Allentown

1 Story Commercial Building with 1,348 SF of space available. Previously used as a clothing boutique, however, could be used for a variety of uses. This would make a great Office space with reception area, open space, 2 private offices & restrooms. Other uses could include medical office – such as a Chiropractor, Beauty/Nail Salon, Spa, Retail space, etc. On-site parking is available. High traffic area with surrounding commercial buildings.  $17/SF Gross Lease

Posted by: Bob Wiley | June 7, 2017

Commercial Real Estate Loans

Commercial Real Estate Loans

 

Commercial real estate (CRE) is income-producing real estate that is used solely for business purposes, such as retail centers, office complexes, hotels, and apartments. Financing – including the acquisition, development, and construction of these properties – is typically accomplished through commercial real estate loans: mortgage loans secured by liens on commercial, rather than residential, property.

Just as with residential loans, banks and independent lenders are actively involved in making loans on commercial real estate. Also, insurance companies, pension funds, private investors and other capital sources, including the U.S. Small Business Administration’s 504 Loan program, make loans for commercial real estate.

Here, we take a look at commercial real estate loans: how they differ from residential loans, their characteristics and what lenders look for.

Individuals vs. Entities

While residential mortgages are typically made to individual borrowers, commercial real estate loans are often made to business entities (e.g., corporations, developers, partnerships, funds, and trusts). These entities are often formed for the specific purpose of owning commercial real estate.

An entity may not have a financial track record or any credit history, in which case the lender may require the principals or owners of the entity to guarantee the loan. This provides the lender with an individual (or group of individuals) with a credit history and/or financial track record – and from whom they can recover in the event of loan default. If this type of guaranty is not required by the lender, and the property is the only means of recovery in the event of loan default, the loan is called a non-recourse loan, meaning that the lender has no recourse against anyone or anything other than the property.

Loan Repayment Schedules

A residential mortgage is a type of amortized loan in which the debt is repaid in regular installments over a period of time. The most popular residential mortgage product is the 30-year fixed-rate mortgage.

Read more: Commercial Real Estate Loans | Investopedia http://www.investopedia.com/articles/personal-finance/100314/commercial-real-estate-loans.asp#ixzz4jKZLTBwV
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Read more: Commercial Real Estate Loans | Investopedia http://www.investopedia.com/articles/personal-finance/100314/commercial-real-estate-loans.asp#ixzz4jKZCcA8O
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Posted by: Bob Wiley | June 1, 2017

3 Great Investment Properties in Parker Ford, PA

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Posted by: Bob Wiley | May 23, 2017

FEATURED LISTING

Park Ave

67 PARK AVE., WIND GAP

$490,000

Highly visible 3,298 SF Commercial/Retail Building Available on corner lot in Wind Gap with plenty of parking. The 1st flr consists of an open showroom area, office, private restroom, and rear workshop. The 2nd flr offers additional rental income with a 1 BR, 1 BA apartment with private entrance. The property is currently being used as a vacuum cleaner store. This successful store has been in business for 30 + years and is included in the sale of the building. Many financing options available including lease and lease to purchase. Contact the listing agent to schedule and appointment to explore the possibilities.  See More

 

APRIL 18, 2017 BY

 

The residential and commercial real estate markets have recovered spectacularly since the dark days of the late 2000s. And technology is making it easier than ever to get a real estate loan. But developing and executing an effective real estate investing strategy is as tough as ever.

That’s especially true in the commercial sector, which has a long history of bewildering supposedly savvy investors. As powerful social and technological forces rapidly reorder our built environment and create new challenges for American property investors, the value of strategic thinking has never been clearer.

Sound strategy begins with a sound grasp of the fundamentals. These four major commercial real estate investing strategies account for the lion’s share of activity in the sector, encompassing a wide range of risk tolerances and property types.

Strategy #1: Opportunistic

This is the highest-risk, highest-reward CRE investing strategy. It’s not for the faint of heart. Despite that, Preqin predicted that nearly half of all U.S. CRE investors would pursue an opportunistic strategy in 2016. (No word on how that prediction panned out.)

Opportunistic strategies target “properties that need a significant amount of work—either because of renovation needs, high vacancy, or relative strength of the market,” says Billy Fink of the leasing management platform VTS. “With a typical time horizon of 3–7 years, “opportunism” is a medium-term approach that banks on a turnaround—preferably of the investor’s own making.

Strategy #2: Value-added

Value-added strategies also carry substantial risk. According to Fink, value-added targets include “properties that have significant execution risk to add the necessary value to drive enhanced returns—like major renovation, repositioning, or lease-up to stabilization.” Value-added strategies typically take a full business cycle to execute—time horizons can stretch to or beyond seven years, ideally with substantially increased cash flow on the back end.

Strategy #3: Core-plus

Core-plus strategies target quality properties that present some opportunity to add value with relatively little downside risk. Since core-plus strategies tend to focus on “known quantities” with little execution risk, the potential return isn’t as high as opportunistic or value-added strategies. The upshot: Investors typically don’t have to pony up for major renovation projects or devote lots of energy to addressing pending lease expirations.

Click HERE to read more

 

Source:  realtybiznews.com

 

Lou Pektor and his team at Ashley Development Corporation have done it again! Teaming up alongside Thomas Lubben with Easton Arts Academy Charter Elementary School in the revamping of the old Express Times Building. Covering Kindergarten through Fifth Grade, the Arts Academy will bring in over 400 students looking to further their education through the arts. The property is owned by Pektor, who is currently building the city’s new Police Station.

“We will have extra security knowing there is a police station there,” Lubben stated in a previous interview, when asked why he thought the site would be a good location for the school.

“We have always enjoyed our collaboration with Mayor Sal Panto and his team at the City as we collectively continue to transform the beautiful city of Easton we all know and love,” said Peter Reinke, VP of Development at Ashley Development. “We anticipate following up the Police Station and Charter School projects with a new addition to the city’s residential market.”

Source: http://www.lehighvalleylive.com/easton/index.ssf/2017/01/see_improvements_planned_for_e.html#incart_river_index

Posted by: Bob Wiley | January 25, 2017

Rodale to sell three Emmaus properties, asking $4.6M

By Wendy Solomon, January 24, 2017 at 11:51 AM
Rodale's Headquarters in Emmaus (Contributed photo)

Rodale’s Headquarters in Emmaus (Contributed photo)

Rodale Inc. plans to sell three properties in Emmaus, a move the publishing giant says will help centralize operations at its headquarters in the borough.

The three properties include two office buildings and a 10-acre parcel that could generate about $4.6 million for the company if sold.

NAI Summit in South Whitehall Township listed the properties: a two-story silk mill converted to offices at 554 North St. listed for $3.42 million; the Rodale Energy Center and Food Services building at 1134 Pennsylvania Ave. listed for $825,000; and a 9.85-acre lot and 1,600-square-foot service garage at 1480 Pennsylvania Ave. listed for $394,000.

Rodale plans to renovate its headquarters on East 10th Street, including photo and video studios, a food-testing kitchen and fitness facilities.

“This is a move that is smart for our business and our culture,” chief operating officer Beth Buehler said in a statement.

“With a centralized South Mountain campus, we will be looking to refresh and modernize our work environment to be reflective of our transforming culture,” Buehler said.

“We will be developing a workplace that will further break down silos, enhance collaboration across departments and offer a more dynamic floor plan and vibe.”

In 2015, Rodale sold for $2.95 million three properties that comprised its former corporate headquarters on East Minor Street to the borough of Emmaus.

 

Source:  LVB

Posted by: Bob Wiley | January 6, 2017

A Practical Guide to Understanding Zoning Laws

Why is zoning important? Zoning laws determine what kind of structures can be built, whether or not an existing property can be re-purposed, and even whether or not an existing structure can be replaced with something new at all. Of course, even if these aren’t changes you are currently considering, you might have a neighbor trying to make one of these changes… to the detriment of your own property.

Understanding zoning is important because it will in large part determine whether or not you get the change you want, and also whether or not you can prevent or modify the change you don’t want. In this article we’ll give you a practical guide to how zoning works, step by step.

I. The Purpose of Zoning

First of all, let’s start with the big picture. What exactly is zoning and what is its purpose? Zoning is the legislative process for dividing land into zones for different uses. Zoning laws are the laws that regulate the use of land and structures built upon it.

If you’ve ever dealt with a city, then you’ve probably heard some variation of the phrase “For the health, safety and general welfare of the public.” It means that every act of governance should (ideally) be made in the best interests of the people. Accordingly, zoning laws are created for the simple purpose of protecting the health, safety and general welfare of the people as relates to land use.

To achieve this purpose, zoning laws regulate the impacts of land use that may not be in the best interests of the people, generally including such things as:

  • Protecting the value and enjoyment of properties by separating incompatible land uses and minimizing their potentially negative impacts upon each other
  • Protecting the value and enjoyment of properties by allowing a property its most appropriate land use given its location and surrounding uses
  • Providing for the orderly development of a city, including making provisions for land uses in the best interests of its citizens, and
  • Providing adequate public infrastructure, e.g., roads, water and sewers

Cities want industrial uses for economic growth, but cities also want single-family residential areas for people to live. But will either the industrial users or residential users be happy if the two uses sit side-by-side? Not likely. When are neighboring uses happy? When they are compatible. This compatibility of the whole is the task of zoning; a sort of government-imposed “love thy neighbor as yourself.”

To accomplish this compatibility of uses, zoning gives the community a road map and a set of rules for driving. It considers how the city would like to grow. It then divides the city into different districts, limiting the uses allowed in each. It then creates laws regulating:

  • How each district can be used (e.g., commercial, residential, agricultural),
  • What types of buildings and other structures can be constructed within each district (e.g., size, number of stories, configuration)
  • Where those structures can be located (e.g., setbacks, green space), and
  • What measures the landowner must take to further compatibility with neighboring uses (e.g., buffers, flood control).

And then because the law recognizes life is not black and white, zoning laws provide flexibility for inevitable changes (who knew the state would construct that overpass, and make west-side ideal for retail instead of a quarry?) and also for inevitable special circumstances.

Let’s take a closer look at how zoning works.

 

READ MORE

Source:  Property Metrics

 

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