DSCR & Non-Conforming Properties – November Philly Market Update – Business, Family & Thanksgiving Wishes

by Brad Gellman

I hope you’re easing into the holiday season and enjoying the cooler weather. In this month’s update, I’m breaking down DSCR loans and what investors need to know about non-conforming properties — two topics that have come up often recently and can create amazing opportunities when used correctly. You’ll also find a fresh look at the current Greater Philadelphia housing market, plus a personal update about my family and how the last few months have shaped both life and business. From new listings and closings to what’s coming next year, there’s a lot to share — so let’s dive in!

What is a DSCR Loan?

DSCR stands for Debt Service Coverage Ratio. It’s a type of investment property loan that qualifies based on the property’s income rather than the borrower’s personal income.

Instead of reviewing W-2s or tax returns, lenders evaluate whether the rental income covers the property’s monthly expenses. If the rent is strong enough to exceed the mortgage payment, the loan can be approved.

Why Investors Like DSCR Loans:

No personal income verification

Faster approval process

Great for self-employed borrowers

Ideal for scaling rental portfolios

This can be especially useful for investors who already own multiple properties and want to continue growing without affecting their personal debt-to-income ratios.

What is a Non-Conforming Property?

A non-conforming property does not meet traditional lending guidelines. This can include:

Mixed-use properties

Properties with zoning irregularities

Homes needing significant renovations

Properties without standard documentation

While these properties may not qualify for conventional financing, they often present unique opportunities for buyers willing to explore alternative lending options.

Understanding these options can be the difference between passing on a deal and securing a great long-term investment.

Greater Philadelphia Real Estate Market Update

October–November 2025

📍 Philadelphia County

The median sale price in the Philadelphia metro for August 2025 was $405,000, up 2.5% year-over-year.

Closed sales declined by 1.7% year-over-year, while active listings increased by 10.9%.

Source: Bright MLS Market Report

📍 Delaware County

Zillow reports a typical home value of $355,438, up 2.1% year-over-year.

Source: Zillow – Delaware County Home Values

Additional Data: Long & Foster Market Minute – Delaware County

📍 Montgomery County

The typical home value is $481,492, a 2.8% increase year-over-year.

Source: Zillow – Montgomery County

Additional Market Report: Redfin – Montgomery County Housing Market

📍 Bucks County

The median sale price in August was $530,000, up 5.0% compared to last year.

Source: Zillow – Bucks County

Economic Data: FRED – Federal Reserve Economic Data

Regional Overview

County	Median Sale Price	YoY Change	Trend
Philadelphia	$405,000	+2.5%	Inventory rising
Delaware County	$355K–$385K	+2–7%	Steady demand
Montgomery County	$475K–$486K	+2–3%	Strong pricing
Bucks County	$530K	+5%	Healthy growth

Wrapping Up: A Personal Note | New Business | Thanksgiving & What’s Ahead

A Personal Note

For the first time in more than two years, I missed last month’s newsletter. My father passed away, and while it was expected, it still came sooner than we imagined. My dad was an incredible man—an educator, camp director, funny, outgoing, and deeply devoted to his family. Most of all, he loved spending time with his grandkids.

I took the month to focus on my mom, my family, and honestly, myself. I miss him every day, but I’m grateful for all of you who reached out with condolences. Your messages meant so much. I also want to give a huge thank-you to my wife, Carly, who has been unbelievably supportive, and to my team and fellow Coldwell agents who stepped in to ensure my clients never missed a beat.

My dad loved these newsletters, he was always the first to respond and he constantly told me how proud he was of the father, husband, and professional I’ve become. I’ll carry that with me always.

Business Update

I’m honored to share that I ranked #22 among over 1,000 agents this past quarter, an achievement made possible only because of the amazing clients, like you, who continue to put their trust in me. Even with everything going on, the past month and a half has been extremely active. I put three properties on the market, got three clients under contract, and closed two more. I also have one new listing coming right after Thanksgiving — my parents’ home. We had planned for this transition for a long time, just not under these circumstances. It’s a beautiful home in a highly sought-after 55+ community where properties rarely come up for sale. If you know someone who may be a good fit, please reach out.

Fall Photoshoot Recap + Spring Preview

Thank you to everyone who came out to the fall photoshoot — it was an amazing turnout and a very special day. I’m already planning the spring event, and there will be some cool new additions this time around. Details to come soon!

Looking Ahead to 2026

There’s a lot on deck for next year:
• Flyers and Sixers ticket raffles
• A brand-new twist on my client appreciation party
• More community events and giveaways

I’ll be sharing more in the next newsletter.

Thanksgiving Wishes

As we head into the holiday, I hope you’re able to spend time with the people you love and take a real break from the day-to-day stresses of work and life. Thanksgiving is truly about appreciating what we have and the people we get to share it with.

Every year, I kick off the day by playing football with my high school friends — a tradition I look forward to all year. I’d love to hear about your Thanksgiving traditions too.

Enjoy the long weekend, enjoy the Eagles game on Friday, and thank you, sincerely,for being part of this community.

Warmly,
Brad