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Reading, PA Real Estate News

I've been talking a lot about the tremendous opportunities to invest in commercial real estate in Reading, PA.  Obviously the flip side of this story is the tough situation that a lot of commercial real estate sellers are facing.  To get properties sold today requires a lot more than putting a sign out front and running an ad or two.  Sometimes it takes a little creativity.  One interesting idea that I've seen used in tough markets is trading or exchanging. Why would you ever want to take anything other than cash as payment for your commercial property?  For one, it might be that the only buyer who is willing to pay your price is short on cash.  It may also be possible to reduce or defer the taxes that you pay on the transaction (check with your CPA or tax attorney).  For example, maybe...
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I was speaking with a friend of mine today that is planning to invest in some commercial real estate in downtown Reading, PA.  He is one of the out of state investors that I've mentioned in previous blogs that has been attracted to Reading, PA by the incredible cap rates.  We have seen a few great properties, but there is one in particular that he would like because of the opportunity to add value with some re-leasing.  Unfortunatly this property is slightly out of his price range.  Now sometimes in this situation I might offer to invest with him, but with the recent move I'm not is the right position to do so.  We started discussing other sources of equity capital, and it came up that he is good friends with a professional athlete.  He said that he has often thought about asking his fr...
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By Joseph Cacciapaglia
(BMC Capital)
"Why would I hire you to list my property if you just moved to Reading, PA?", was the question that my potential client asked me today.  It's a fair question, especially given the fact that many brokers advertise themselves at the 'local area expert'.  My answer was quite simple, "it is true that all real estate is local, but capital is global!"  This answer initially confused my potential client.  He wanted to sell his commercial real estate, he was not trying to finance anything.  I realized that this was going to be a long conversation. If you are selling a home to somone who is going to live there, it is important to know a lot about the area.  What school district is it?  How is the public transportation?  What is there to do in the area?  If you are selling a factory to a business...
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By Joseph Cacciapaglia
(BMC Capital)
Currently my focus in real estate is leasing and selling commercial real estate in downtown Reading, PA.  However, I am still involved in the occasional residential transaction.  I recently moved here from NJ, and today I listed my old home in Collingswood, NJ as a rent to own.  To my pleasant surprise, I had a showing scheduled within 2 hours of my listing, and provided everything goes as we discussed, we'll be filling out their paperwork on Wednesday. To those of you who listen to the gloom and doom in the media, this story probably sounds completely unbelievable.  What most people don't realize is that when you hear about 'the market' in the news, you're only hearing about averages and 'typical' transactions.  In most markets there are always some properties in high demand.  Today, d...
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I was reviewing an office lease today for a client of mine.  In general, the lease was a pretty basic lease, 5,000 SF, 5 years, market rate, 2  2-year extension options, and that's where things got a little wierd.  The second option started in 2017 and ended in 2015.  Clearly this was a typo, but it really made me think.  This lease had already been reviewed by the tenant, by the investor, and by the investor's attourny.  Now clearly you cannot have a lease term that ends before it begins, so this option was basically worthless to the tenant.  The tenant was negotiating on their own behalf, and did not have a second pair of eyes review the lease for them.  This really got me thinking.  I've always known that I add value for my clients by reviewing business terms and making sure they are...
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I was talking to an investor today that said he only invests in residential real estate, because that is what he knows.  He explained that he can walk into a property and figure out whether or not someone would want to rent an apartment or home that he might purchase.  I think it makes complete sense to invest in what you understand, but I find it hard to believe that this investor doesn't understand any type of commercial real estate.  For example, he has worked in an office for several years.  It seems to me that he should be able to make judgments about office space similar to the ones he makes regarding homes.  He probably also has a good idea about what might be a good space for a restaurant or what location might be convenient to build self storage space. Several of the investors ...
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One of the things that attracted me to Reading, PA was that it is very clear that the people of Reading are committed to improving their city.  There are several groups working together to improve the city, and there are several initiatives in place that positively effect commercial real estate in Reading.  While researching Reading and the surrounding area over the past year, I came across one extremely interesting site, Mayor McMahon's "Wall of Shame": http://www.batchgeo.com/map/263e207495a95cce9bfd145dcab884b0.  I think that this site is a great example of one of the creative ways that the residents have come up with to improve the real estate market in Reading, PA.  I don't know if I ever would have thought to shame property owners into taking better care of their real estate inves...
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By Joseph Cacciapaglia
(BMC Capital)
I was speaking with a friend of mine today who started investing in real estate a few years back.  Up to this point he has purchased a few 1-4 unit residential properties, and has done pretty well.  His goal is to buy enough real estate to retire in 4-5 years, and is well on his way.  He also currently works full time.  He is starting to realize that financially his plan is working well, but he is having problems finding the time to find enough properties.  After a long discussion about his goals, it became clear that what he needs to do is start to look at larger properties.  It was obvious to me that this realization made my friend a little uncomfortable.  For some reason 1-4 family residential properties seemed safe, but 5+ unit residential or small commercial properties seemed risky...
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"Why are you moving to Reading, PA?"  That's a question that I've heard several times over the last few months.  My answer seems to come as a great surprise to most people.  My wife and I decided to move to Reading, PA because of the incredible opportunities in commercial real estate in Reading.  I've spent the past several years working in many areas of commercial real estate, and I've lived all over the US (ME, MA, IL, CA, VA, MS, AL, LA, TX, and NJ in case you were wondering).  I've spent quite a bit of time analyzing markets and looking at deals, and at the moment, Downtown Reading, PA has the most compelling real estate investment opportunities that I've ever encountered.  By moving to the area, I plan to help my commercial real estate contacts across the country take advantage of ...
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By Joseph Cacciapaglia
(BMC Capital)
Welcome to the grand opening of my blog.  I've been involved in the sale and financing of commercial and investment real estate throughout the US since 2003.  I just moved to Reading, PA primarily because I believe that the city presents many spectacular real estate opportunities.  I have just joined Richard A. Zuber Realty, and I hope to assist real estate owners and investors in navigating this complex market.  Please let me know if there are any topics that you would like discussed in my blog. 
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By James Harner, James Harner Group - Philadelphia PA Real Estate
(Considering Selling Your Home? Call 610-310-7646 first)
Reading PA Homes | Berks County Major City Maybe you’d like to know more about Reading PA homes and important information such as school districts, local restaurants and housing features. Reading Pennsylvania is a large city located in Berks county, Pennsylvania with a population of over 80,000 residents. As the sixth largest city if Pennsylvania, Reading PA offers a wide range of recreational activities and educational activities. With the lower taxes, increasing house values and many local events Reading PA homes are a popular housing choice for those looking for a large city setting with plenty to do. Are you thinking of looking into one of the many Reading PA homes for sale? Reading PA homes are known for their diverse styles from condos, townhouses and single family homes. There is...
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By Walter Hotzman, To Always Care
(Keller Williams Realty Elite)
Learned a lot at the raincamp that I will be putting into practice to help my buyers and sellers. Also I enjoyed the time spent at the after training session and the sites of New York City.
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By All Realty Solutions
(www.ALLRealtySolutions.com)
Rental Office | ALL Realty Solutions | 610-685-1770 925 Greenwich St, Reading, PA Close to EVERYTHING! VERY Rare Find!!! Retail/Commercial $575/month Sq Footage 378 DESCRIPTION Available! Very Rare Find.... Close to EVERYTHING! 378 Sq ft Beauty, Nail barber Salon/Shop in Reading Pa! VERY Convenient! http://rentals.allrealtysolutions.com see additional photos below RENTAL FEATURES - Convenient, close to EVERYTHING! LOCATION FEATURES - High Foot Traffic! LEASE TERMS Two Year. ADDITIONAL PHOTOS Front of propertyFront Room SalonRear room of SalonPhoto 1Photo 2 Contact info: Rental Office ALL Realty Solutions 610-685-1770 Equal Opportunity Housing Posted: Nov 1, 2009, 7:26pm PST
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By Jeff R. Geoghan, REALTOR, Marketing Manager
(Coldwell Banker Realty)
I took the boys to Reading Airport on the 7th to check out the 2009 World War Two Weekend Airshow, put on by the Mid Atlantic Air Museum located right at the Ariport.  There were thousands of people there and hundreds of period re-enactors.  My favorite parts were the restored warbirds themselves.  Here's some photos from the event from the lens of Heritage Photographic Art: There's a bunch more and I'll be sure to upload to the "Warbirds" gallery at http://www.heritage-photographic.com.    
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  So, now you are considering purchasing rental properties in Reading, Pa, or you are a Realtor working with an investor in Reading. What is the next step towards getting those "golden" rental permits? It's not as difficult as you may think.   The first thing to consider, hopefully before making that offer on a rental property, is whether or not the property is a "legal" rental. The question to ask before making that offer is "Does the property currently have permits for each unit?" If the seller is not able to answer that question or says "no", then you need to be somewhat concerned. A quick phone call to the Reading Codes office can tell you whether the property has been permitted for rentals in the past or not. Please remember that the answer you receive over the phone should only be...
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  There are many people who ask me how difficult it is to have rental properties in Reading, Pa. They have heard from other Realtors and Investors that the City of Reading is cracking down on rental property owners. I hear the fear in their voices as I say to them, "Relax, the city codes are not so scary."   Basically the City of Reading is trying to ensure safe properties and improve the value of the neighborhoods. For the last 2 decades the city codes enforcement has been less than perfect. The result is seen in many properties which are now falling apart. Most of the homes in Reading are about 100 yrs old and for many the age shows.   Since I have been a Realtor I have seen people from PA, NY, NJ, CT, DE, CA, FLA, MD, AR, MA, TX and more states buying up city homes faster than one co...
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By Leo Vinteler, Exqusite Service
(Stout Associates Realtors)
Reading, Temple and Muhlenberg homes for sale Many websites claim to give you a complete home search, to get you to visit their website, only to find out that for them to give you any information you have to give them not just your name but phone no, e-mail and soon your shoe size:)))) My website is one of the few websites that respects you and your privacy. My website also has what I call a Ready Search where all you have to do is click on the School District or the Price you are interested. My website also has a Ready Search for Luxury Homes in Berks County and Historic Homes in Berks County... Thanx for your visit and please see my Ready Search,, promise will be the easiest search you ever did... You like something please contact me... I respect you privacy.. your information is only...
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By Fran Gaspari, "The Title Man" - Title Insurance - PA & NJ
(Patriot Land Transfer, Inc.)
Overlooking the fifth largest city in Pennsylvania, Reading, is the 'Japanese' style structure known simply as 'The Pagoda'! Read the wikipedia account and history and check out the attached photos!Reading, Pennsylvania, population over 84,000, is the county seat of Berks County...a rural suburban city northwest of Philadelphia, our nations first capital!Reading is making a comeback due to the energies of many concerned residents and area investors and developers...  'The Pretzel City' as it is sometimes called has so many interesting historic venues they are too numerous to mention...from the many 'shopping outlets' to the magnificent 'Sovereign Center'...to its old breweries, steel manufacturers, Albright College, Reading Phillies baseball...to the beautiful Berkshire hills which surr...
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By Christopher Benedict, AskTheBigGuy
(BIG Realty)
Growing up on the Main Line, and attending Lower Merion, Berks County was considered a land far, far away.  Now it is a short 30 minute commute for people working in Montgomery and Chester County who moved west for a lower cost of living.  Exeter Township and the Exeter Township School District are a good place to find a good home in a good school district at an affordable price.As far as real estate is concerned, compared to high ticket areas like Lower Merion, Exeter is about a good of a bargain as they come.  The lowest sales price was $62,500 with the highest at $525,000, and an average sales price of $199,910, which is nearly 1/5 the average sales price on the Main Line in Lower Merion.  Berks County continues to shine as a place with affordable housing.Courtesy Of : Christopher Be...
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By Christopher Benedict, AskTheBigGuy
(BIG Realty)
Exeter Township is a township in Berks County, Pennsylvania, United States. The population was about 25,000 in 2005. Daniel Boone Homestead is within its borders. Betsy King, the famous female golfer, grew up here. This formerly rural township is now made up of mostly sprawl-oriented real estate developments along Route 422(Perkiomen Avenue) and Route 562(St. Lawerence Avenue/Boyertown Pike). Its school district also contains the adjacent borough of Saint Lawrence.The name Exeter derives from the town of Exeter in Devon, England. Numerous other places have also been given the name Exeter.There were 7,934 households out of which 34.7% had children under the age of 18 living with them, 65.7% were married couples living together, 7.5% had a female householder with no husband present, and 2...
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