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Philadelphia 76ers Cancel Plans for New Arena, Announce Plans to Create Another Venue

Philadelphia 76ers Cancel Plans for New Arena, Announce Plans to Create Another Venue

by Phil Hall | Jan 14, 2025 | Commercial Real Estate News, Current News & Events, Market Snapshot, Real Estate News, WRE News Exclusive

The Philadelphia 76ers have abruptly cancelled plans for a new $1.3 billion Center City arena project and instead announced plans to play in a new stadium complex in South Philadelphia. NBC Philadelphia reports Philadelphia Mayor Cherelle Parker led a press conference...
Mid-Atlantic Home Sales Up Despite Fewer Listings, Higher Prices

Mid-Atlantic Home Sales Up Despite Fewer Listings, Higher Prices

by Phil Hall | Dec 12, 2024 | Current News & Events, Market Snapshot, Real Estate News, U.S. Housing Market, WRE News Exclusive

Home sales activity was on the rise across the Mid-Atlantic region in November, according to new data from Bright MLS. Across the Bright MLS service area, there was a 5.7% year-over-year increase in the number of homes for sale. This marked the third consecutive month...
Hits and Misses for the Real Estate Week of Dec. 2-5

Hits and Misses for the Real Estate Week of Dec. 2-5

by Phil Hall | Dec 6, 2024 | Current News & Events, Hits and Misses, International Real Estate News, Market Snapshot, Real Estate News, U.S. Housing Market, WRE News Exclusive

A new achievement in luxury real estate, an executive preparing the next generation of professionals, and the perils of renting to Hunter Biden. From the wild and wooly world of real estate, here are our Hits and Misses for the week of Dec. 2-5. Hit: A New Home for...
Report: Real Estate Tax Fraud Costs Philadelphia $11.5 Million Per Year

Report: Real Estate Tax Fraud Costs Philadelphia $11.5 Million Per Year

by Phil Hall | Dec 5, 2024 | Current News & Events, Market Snapshot, Real Estate News, WRE News Exclusive

Philadelphia’s Controller Office has issued a report that determined that fraud within the city’s Homestead Exemption Program, costs the municipal government and schools roughly $11.5 million per year. According to MetroPhiladelphia.com coverage, investigators with...
Justice Dept. in $6.5 Million Redlining Settlement with Credit Union

Justice Dept. in $6.5 Million Redlining Settlement with Credit Union

by Phil Hall | Oct 11, 2024 | Current News & Events, Industry Updates, Real Estate News, WRE News Exclusive

The U.S. Department of Justice (DOJ) announced its first redlining settlement with a credit union in its $6.5 million agreement with the $6 billion-assets Citadel Federal Credit Union. The DOJ alleged that Citadel failed to provide mortgage lending services to...
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