Chris, Home Buyer in New York, NY

What about vaules and projections for the Residences in Philadelphia (occupancy to begin in November 2008)?

Asked by Chris, New York, NY Wed Apr 30, 2008

They say they're 60% sold in the present economy. Any thoughts on future values, appreciation? I've noted that Philly has historically been a somewhat stable real estate enviornment.

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Larry Lichtman’s answer
Hi Chris,

I agree with Ryan. It is a fantastice time to buy a family home to live. However, there are also some really good investment properties available at prices that make sense. These rental properties can provide a better than stock market average rate of return. Plus the additional benefits of tax deductible depreciation and equity appreciation over the long term.

All the best,
Larry Lichtman
(267) 254-7994
3 votes Thank Flag Link Wed Jun 23, 2010
Hello Chris,
Honestly if you have the means to buy in this market dont wait, the Philly region is seeing at least 4% increases in home values each year. We are in a great market to buy a home for what a home is used for... to live in, raise a family, enjoy comfort, and build equity.. we are obviously in a buyer market with a little over 9 months of inventory, so buying anytime during this period will allow you to experience home ownership and live in your investment as it slowly grows in value.. hope this helps a little.. Have a great week. Ryan M
0 votes Thank Flag Link Wed Apr 30, 2008
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