We all know there are not many federal government incentives for green building right now. Many states have picked up the ball and implemented some decent local incentives of their own. Unfortunately, Pennsylvania is not one of those states at the moment. They are working on state legislation to improve this, but for now we […]
Entries Tagged 'financing' ↓
Federal Tax Credits Available
March 21st, 2008 — financing, budget, planning
Appraisal Back but Settlement Delayed
February 22nd, 2008 — financing, development
We passed another milestone yesterday, which was to get the appraisal on the homes back based on our plans. Since we are the first to build a new home in this up and coming neighborhood and there are few comparable new construction sales nearby, we were a bit nervous. We got the call late yesterday […]
Financing for 100K House is Official!
January 25th, 2008 — financing, development
Hurray! I just received the commitment letter from our lender - The Bancorp Bank. The Vice President of Commercial Lending, Edward Dixon, got all of the necessary signatures to approve us for the loan and move us to the next level. Our closing on the land is scheduled for February 22nd and we simply need […]
Quick Financing Update
January 24th, 2008 — financing
Just a quick financing update before I head to Philly’s annual Home Show to visit some “green” product vendors and see if anything else tickles my fancy. We received an update from our loan officer that he has all but one of the signatures he needs and should be getting the last SVP to sign […]
Financing Term Sheet
January 3rd, 2008 — financing, development, budget
It’s been a while since I’ve given an update on our financing situation. The previous posts on financing have been some of the most popular posts from the blog to date so I can assume that many are hungry for more info on the topic.
When we left off last, we had been rejected by the […]
Financing Update
November 27th, 2007 — financing, development, budget
We are in the process of applying for financing with three new banks right now. It looks like we should have an answer from them in about two weeks which will be just in time for our due diligence deadline on the land. I am also meeting with another local development team, who also […]
First hurdle encountered
November 20th, 2007 — financing, development, budget
Since this is a blog about every detail of the project I guess that means we need to share the good with the bad or the successes with the challenges. I’ve been told that development is mostly about coming up with a good idea and then overcoming a bunch of challenges to ultimately end with […]