New debates over preservation in Philly | Real Estate Newsletter
And a Q&A with an appraiser.
Fights over historic preservation have been brewing and bubbling over in Philadelphia for decades. Now, a City Council member is provoking more debate.
His bill gives property owners additional notice before the city considers whether to designate their properties as historic — a designation that prevents owners from demolishing buildings or significantly altering their exteriors.
Preservationists say an extra heads-up would give developers more time to tear down potentially significant properties.
Even some people who oppose preservation aren’t happy with the bill.
Keep scrolling for that story and more in this week’s edition:
Home ownership lesson: Learn what a professional home appraiser wants you to know.
Entering Eagles territory: Read about how more New Yorkers and other out-of-towners are searching for apartments in the Philly area.
Clock’s ticking: Find out why thousands of affordable Philly rental homes are at risk during the next decade.
‘Incredible bones’: Peek inside this fully renovated 105-year-old home in Fishtown.
— Michaelle Bond
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City Councilmember Mark Squilla’s latest historic preservation bill comes during a time of heightened debate around preservation in the city.
Preservationists are pushing back against demolitions. Some homeowner groups and organizations that advocate for more development are pushing back against an increase in historically protected properties and neighborhoods.
Squilla’s bill addresses some common frustrations that I hear from property owners.
In Philadelphia, people can nominate properties for historic designation without the permission of the owners. This is a frequent point of friction when the city’s historical commission considers nominations.
Supporters of Squilla’s bill call it a good-government fix that gives more notice and power to property owners. But some opponents of preservation say it doesn’t go far enough to help homeowners.
Learn what else is in the legislation and how it could change Philadelphia’s preservation ordinance.
If you’re buying a home, refinancing a mortgage, or just want to know what your home is worth, you’ll probably want a home appraisal.
Last week, I talked to a professional home appraiser about what exactly an appraisal is and what goes into evaluating a property. He said a lot of people don’t understand the process.
At its most basic, an appraisal is “an opinion of value for a home,” he said.
Banks want them before they let you take out a mortgage or borrow against a home. Families get them when they want to figure out the value of property in a divorce or after a loved one’s death.
In my Q&A with Matthew Sestito, who’s been a licensed appraiser in the Philly area since 2009, we talk about:
factors that go into an appraisal
what homeowners should expect during an inspection
the home design features that matter
how a homeowner can prepare for an appraisal
what to do if you disagree with a valuation
Keep reading to learn what Sestito thinks you should know about appraisals.
📮Who else in the real estate industry would you like to answer some questions? Email me and tell me what you want to know.
The latest news to pay attention to
More New Yorkers and other out-of-towners are looking for apartments in the Philly area.
City Council took a rare stand against Mayor Parker by allotting more housing funds to the poorest Philadelphians.
During the next decade, Philadelphia is at risk of losing thousands of subsidized rental homes.
Is a vacant lot better than a decrepit building? Inside Philly’s latest debate over aging buildings.
A 20-year tax abatement to help turn schools and offices into homes may soon be legal in Philly.
These bills that are meant to help Philly renters took effect this week.
A 29-year-old found what could be his forever home for $340,000 in Point Breeze.
Here’s how Chestnut Hill’s main street is staying relevant in the Amazon era.
House of the week: For $799,999 in Bucks County, a custom-built house with a redesigned kitchen.
Nicala La Reau bought her 105-year-old home in Fishtown for the neighborhood and the house’s “incredible bones.”
But the home needed a lot of work. She immediately started renovations after her purchase in October 2024.
The home was dated throughout, so she had to update mechanical systems as well as finishes and the floor plan.
She started with five bedrooms and 1½ bathrooms but turned one of the bedrooms into an additional full bathroom. And she expanded the primary bathroom.
La Reau uses one of the bedrooms as a walk-in closet.
Off the third floor, she has a rooftop deck, where she drinks morning coffee and entertains. Her backyard is a “rare luxury for city living,” she said, and fits lots of seating, plants, and a garden.
Peek inside La Reau’s property and find out where she gets her design inspiration.
📷 Photo quiz
Do you know the location this photo shows?
📮 If you think you do, email me back.
The quiz from two weeks ago featured a photo of a fountain, benches, and trees that was taken at Fitler Square between 23rd and 24th and Panama and Pine Streets.
Shout-out to Francis K. and Cheryl B. for being among the readers who knew the park.
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Are you looking for something to do this weekend? You could check out a unique estate sale at a Delancey Street townhouse.
The house near Rittenhouse Square has made headlines because it’s filled with thousands and thousands of books. Hundreds of the most valuable are now on auction.
And at 2 p.m. today, the house on the 1800 block of Delancey Street will open for the estate sale, which runs through Sunday. Besides books, shoppers can snag artwork, rugs, and other household items.
I’m curious what it’ll be like. Let me know if you go.
Enjoy the rest of your week.
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