News

Direct Gets A Shout Out In Philadelphia Magazine

Nine Under the Radar Developers Remaking Our Neighborhoods in Big Ways Jared Pontz of Direct Mortgage Loan Company was featured in the October 2017 issue of Philadelphia Magazine! “Behind the Boom: The Next Wave of Philly Developers,” introduces nine “under the radar developers who are remaking our neighborhoods in big ways.” From the article: Jared Pontz, managing partner, Elfant Pontz Properties and Direct Mortgage Loan Company  Backstory: In 1964, there was Martin Elfant Inc. In 2016, the company was renamed Elfant Pontz, seven years after [...]

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Teamwork Makes the Dream Work

  Husband and wife team, Jerry and Inna, have been building their real estate business together since 2005. They do flips and new construction and Inna is also an agent. They’ve had tremendous success over the years. “Even during the housing collapse in 2006 through 2010, we fixed and flipped 25 houses, primarily in the Mount Airy section,” says Jerry. “So actually Philly held like a rock. Hence when the recovery began in earnest, this city simply exploded with pent [...]

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Direct Client Featured in Huffpo

Direct client, Patrick Jeune aka “the Millennial Real Estate Mogul” was featured in the Huffington Post. Read the inspiring interview. “He purchased and then flipped his first property before he was old enough to rent a car. He comes from a family of people in West Philadelphia who were interested in property. His father worked in construction. For his mother, it was always a start and stop process where real-estate was concerned. She now works for him at JP Holdings Group [...]

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Philly’s real estate market is accelerating at a record breaking pace

“Second quarter numbers are in, proving what the local real estate world has been hinting at for months: Philly’s real estate market is accelerating at a record-breaking pace,” says Curbed. Here are five essential takeaways from the latest housing report from Drexel University economist, Kevin Gillen. 1. The average price of residential real estate just hit a new all-time high of $198,150. 2. Last year appreciation occurred at twice the speed of our historical rate and outperformed most other large U.S. [...]

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Philly’s next hot neighborhoods might not be what you think

A Philadelphia Inquirer analysis of data from Drexel University’s Lindy Institute for Urban Innovation reveals some surprising trends in long overlooked zip codes. The 19137 zip code ― home to Bridesburg and the northern part of Port Richmond in the River Wards section is not likely to make it on to a list of “hipster zips”, but it saw the greatest increase in the number of home sales in the last year, jumping 43 percent. The city’s 19104 zip [...]

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FixList Wants To Increase Your Deal Flow

Left: Founder and CEO of FixList, Stacey Mosely, Right: Map of new construction from FixList’s Emerging Market Report on Callowhill FixList is a new subscription service that aims to help developers increase their deal flow and improve their acquisition strategy. Data scientist Stacey Mosley conceptualized FixList as a means to address urban blight while working for the Nutter administration. The platform is a one-stop-shop for gathering intel on potential investment properties. Similar to Zillow, you can search properties by address, owner, [...]

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3 Key Insights From Pew's "State of the City"

The latest report from The Pew Charitable Trusts’ Philadelphia research initiative provides valuable new economic and real estate data. Check out our top three real estate observations below, or download the full report here. 1. Home Prices Are Way Up. The total number of homes sold last year was the highest it’s been since the recession and median home prices were 38% higher than in 2010. The growth was unevenly distributed though with the largest increases occurring in Center City, the [...]

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New rules will cause some credit scores to rise

The formula behind how your credit score is calculated is being re-written. The new method will be implemented later this year by VantageScore (a company created by the credit bureaus Experian, TransUnion and Equifax). “Using what’s known as trended data is the biggest change. The phrase means credit scores will take into account the trajectory of a borrower’s debts on a month-to-month basis. So a person who is paying down debt is now likely to be scored better than a person [...]

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The 5 Worst Real Estate Investing Mistakes

A helpful article from The Philadelphia Inquirer lists, “Not understanding your creative-finance or adjustable-rate loan,” as one of the worst real estate investing mistakes. They explain, “If a seller offers a “creative-finance” deal or the lender recommends an adjustable-rate mortgage, tread carefully. Depending on the terms of the loan, your payment might increase when interest rates rise, which is expected to happen throughout this year and beyond.” At Direct we offer fixed-rate financing ONLY. Our terms are outlined in [...]

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Feds Raise Rates

Interest rates are going up. The Federal Reserve raised its key interest rate by 0.25 percentage point on Wednesday. It was just the third time that the Fed has increased rates since the financial crisis. The move was anticipated after last week’s strong jobs report. A rate hike is a sign that the Fed is confident about the pace of growth in the U.S. economy. Read more from CNN Money here.

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