Demystifying the market right now | Real Estate Newsletter

Whether you’re interested in buying, selling, or renting, or just want to stay updated on the constantly changing Philly area, welcome to the first edition of a weekly newsletter dedicated to all things real estate, written by me, Michaelle Bond.

As someone who grew up in South Jersey, I think it’s only fitting to talk first about some potential changes happening in Wildwood. (I’m also dreaming of beach weather.)

Since the beginning of the pandemic, investors in the Philly area have showed more interest in the Jersey Shore. Old motels that scream Shore are for sale up and down Wildwood, and the island could be at risk of losing its distinctive character. Sales don’t necessarily mean demolitions, but locals are worried.

Also, I’ll get into a counterintuitive plan to preserve the history of a building by demolishing it, a look at how the Philly housing market did last quarter, tips for improving your home WiFi, and a tour of a historic Queen Village home.

📮 Have you stayed at one of Wildwood’s characteristic motels or have memories of seeing them on trips down the shore? E-mail your stories to me at realestatenewsletter@inquirer.com for a chance to be featured in my newsletter.

If you see this 🔑 in today’s newsletter, that means I’m highlighting our exclusive journalism. You need to be a subscriber to read these stories.

At least seven Wildwood motels are on the market, asking for $2.6 million and up. Included in that list are the Isle of Palms, Beach Terrace Motor Inn, and Starfire Motel.

With the sales, Wildwood could lose some of the colorful character it’s known for. The president of the Wildwood Historic Society also said the island risks losing old beach cottages and Victorian houses that come to mind when you think Wildwood.

The Lollipop Motel was recently sold and turned into condos, but it’s kept its outer look. What will happen to the other motels up for sale?🔑

I have to say that I know more about the Girl Scouts than the Boy Scouts. Two years ago, I talked to a Girl Scout troop about journalism, and the members asked great questions, definitely earning their Scribe Badges. And then, just this week, I bought a box of Thin Mints from an enterprising young lady who set up outside a farmers market. (I was surprised the box was still $5.)

So I didn’t know that the Boy Scouts own about 17,000 acres in Pennsylvania. But while the organization is land rich, it’s relatively cash poor. The 755-acre Camp Trexler in the Poconos is one of the parcels expected to go up for sale soon. The camp could be replaced with a housing development.

Local Boy Scouts councils are under pressure to pay toward a $2.5 billion national sex-abuse settlement and are selling off storied camps.🔑

A couple weeks ago, my colleague Aseem Shukla and I shared four charts explaining December’s slowing housing market. And now we have more evidence that activity from buyers and sellers has slowed.

Throughout the fourth quarter of 2022, sales and prices dropped, according to research that Drexel economist Kevin Gillen shared with The Inquirer. Higher mortgage interest rates, housing unaffordability, and a slower economy pumped the breaks on the market locally and nationally.

A few takeaways from Gillen’s research:

Keep reading for the piece where we explain more and break down those charts.

We’re all using our home WiFi more than we used to, whether for entertainment or working out of our bedrooms and dining rooms. And I’m betting that at some point, most of us have had to deal with spotty service interrupting a meeting or Netflix binge.

So what can you do about it? There are some simple steps to lessen the chances that internet connectivity issues will ruin your day. (One piece of advice even follows a tried-and-true real estate phrase.)

My colleague Erin McCarthy asked Comcast for some tips on fixing your home WiFi without calling customer service.

Papyrus paintings from Egypt. Fabric paintings from Kenya. A rug by the front door from Turkey.

Jessica Parker has filled her renovated rowhouse from the 1700s with treasures from her travels. But the Upper Darby native is just like the rest of us in some ways: She got her bed frame from Wayfair and makes not-infrequent trips to Home Goods.

We’re all at least a little nosy. (It’s OK; you can admit it.) Satisfy your curiosity with a tour of Parker’s home.

City Council is considering an ordinance that would exempt redevelopment of the Cobbs Creek Golf Course from a city environmental law designed to prevent erosion. A private nonprofit is planning a $65 million renovation of the city-owned course, which has a spot in the National Black Golf Hall of Fame.

Question: What year did the golf course open? This story has the answer.

Can you name this neighborhood, one of Philly’s most gentrified and the future site of more high rises for families?

E-mail your answer at realestatenewsletter@inquirer.com for a chance to be featured in my newsletter.

Enjoy the rest of your week. To break up your doom scrolling, swipe through some photos of this $8.75 million Rittenhouse Square condo for sale.