New Hope tries to stay funky amid development | Real Estate Newsletter

New Hope has always been a funky town, residents say, and they want to keep it that way.

The Bucks County borough of 2,700 people draws day-trippers and vacationers, as well as out-of-towners who want to relocate. And longtime residents see their community changing. Transplants are “tearing down lovely old Victorian homes,” an 81-year-old resident said, and home prices have gone up.

“I remember when artists moved to New Hope because it had inexpensive housing,” he said.

Times have changed, and some residents are pointing their finger at developers.

Keep scrolling for that story and to read about a record condo sale in the Wildwoods, learn about a plan for a large new apartment development in West Philly, see how much income a Philly household needs to afford the typical home, and get tips for choosing an interior design game-changer: window treatments.

📮When it comes to window treatments, are you Team Shades, Team Blinds, Team Curtains, or Team Shutters? For a chance to be featured in my newsletter, email me.

— Michaelle Bond

If someone forwarded you this email, sign up for free here.

I know New Hope for the Bucks County Playhouse, set off of South Main Street among restaurants and shops. But people who work in the service industry at the businesses that help create the borough’s vibe increasingly can’t afford to live in town.

Revealing quote: “Twenty years ago, we had maybe 35 homes worth a million or more, and today we have a couple hundred,” said New Hope’s mayor, Larry Keller, who also owns an antiques store.

As the borough faces development pressure, it’s working on a new plan to guide its growth. Its council president, Ken Maisel, told my colleague Kevin Riordan that New Hope is “a little town that has found burgeoning development to be a blessing and maybe a curse at times.”

Keep reading to learn more about New Hope’s past and present and what could be in its future.

Summer’s around the corner. And if you were in the market for a Shore home, you know you’d have to pay a lot in Avalon or Stone Harbor. But what about the Wildwoods?

The traditionally more accessible location is getting pricey along with everywhere else. One real estate agent said that newly built properties that sit blocks and blocks from the beach can go for $700,000 or $800,000.

Now a condo in Wildwood Crest has sold to a developer for a record price — $2.25 million.

The seller did have to cut the home’s price — down from $2.39 million.

The four-bedroom, 4½-bathroom condo spans more than 3,400 square feet on the top floor of the Coastal Colors complex. The home’s wraparound deck has ocean views.

Keep reading for the condo’s amenities, the new buyer’s plan for the property, and more about the real estate market in the Wildwoods.

Long before you read the Wildwood Crest condo story, you’ve known home prices are up. And you’ve probably seen in your own paycheck that they’ve been rising faster than incomes.

Across the country, the typical household makes about $29,000 less than it needs to afford a typical home, according to a new analysis from the online real estate brokerage Redfin.

Redfin found that in most major U.S. metros, households need to make six figures to be able to afford to buy the typical home.

The Philly area is one of the places where that’s not the case. According to Redfin, the income needed to buy a median-priced home in Philadelphia and Delaware Counties is the fifth lowest compared to incomes needed in other large metros nationwide.

Keep reading for more about why homes are getting less affordable, how much income a Philly household needs, and where families need to make the most money to afford a typical home.

Last month, I wrote about how renters can “renovate” their spaces, and I shared some tips I got from talking to a few local interior designers. Window treatments were a design game-changer that kept coming up.

So let’s dive into the transformative materials.

Kate Watson and David Jacowitz had 15 windows to think about when they moved into their newly built townhouse in Fishtown this year.

They needed shades that would block the morning sunlight in the bedrooms. In the living room, drapes frame their view of the Delaware River. In the dining room, they didn’t have to worry about the sunlight as much, so they went with a patterned Roman shade that matches the room’s vibe.

They spent about $20,000 on custom window coverings.

Your budget is one of the main things to consider when it comes to window treatments, as well as light control, privacy, and your tastes.

Read on for tips for choosing the right window treatments for your home.

As of last Saturday, Martin Luther King Jr. Drive is closed to traffic on weekends through November, allowing pedestrians and bikers to take over.

Question: What year did the road start seasonally closing to traffic?

A) 1985

B) 1995

C) 2005

D) 2020

This story has the answer.

Do you know the location this photo shows?

📮 If you think you do, email me back. You and your memories of visiting this spot might be featured in the newsletter.

Last week’s quiz showed a photo taken at the Shofuso Japanese Cultural Center in West Fairmount Park. A lot of people knew that one and share my excitement for enjoying springtime in and around the site.

Shout out to Beth G., Randall H., and Sally S.H. for being some of the first readers to answer.

Beth in South Philly said:

“Ahh, the peaceful escape and hidden gem of Philly. I am a member and love to support this cultural center.

Come for the koi fish, the hidden Buddha statue, the shoes-off pagoda tour, and breathe.”

I think that’s pretty good advice. I like to make my way over there during the annual cherry blossom festival.

―

As the weather gets nicer, are you looking for a neighborhood to explore? My colleague Henry Savage put together this guide of what to eat, drink, and do in Point Breeze.

Enjoy the rest of your week.

By submitting your written, visual, and/or audio contributions, you agree to The Inquirer’s Terms of Use, including the grant of rights in Section 10.