I believe all three areas you mention are very stable neighborhoods. Now is a great time to buy in any of those areas in this suppressed market. There are great deals for Buyers right now.
As an investment, I think Fitler Square and South are going to really appreciate greater than the rest. With all the development UPenn is planning on the West side and the expanding development down and through Grays Ave, I feel that Christian Street and South of Washington Ave/Grays Ave area will see some hyper appreciation as compared to the rest of Philadelphia.
Please feel free to call me to discuss your strategy. Sometimes another objective opinion can help you make more informed decisions. I'm always here to help you.
All the best,
REALTOR, Property Manager
Your Real Estate Resource For Life
Cell (267) 254-7994
I also lived in the heart of Society Hill, too. Both are comparable.
Society Hill and Rittenhouse Square will always be old, stable neighborhoods. Always.
Scott Miller, Realty Associates, Boca Raton, FL
Coldwell Banker Preferred (CBP) just opened our new Avenue of the Arts location which triples our presence. The company is voting with its dollars.
Hit me up if you're serious. Joe
215 266 7227 or MoveSmarter@CBP.com
Are you looking for your own personal residence or to buy and rent out?
It is hard to predict and be 100% right but Old City has had some problems recently with new condo sales (the units on 2nd st) but overall is a popular area to live. I think ultimately it is what kind of lifestyle you are looking for. Old City has a larger density of night life and you will find the streets packed on the weekends whereas other areas of the city are not as densely packed at night.
Depending on where you live, you can get a view of the river which is another added bonus to the area.
The most simple answer to your question would be to have an experienced investment professional "run the numbers" for you. Old City is an awesome neighborhood (as well as many other neighborhoods in Philadelphia), but in order to understand where it makes sense to invest you have to understand how much you can afford and how profitable you want to be in your strategy. Some investors might only want to invest in Old City, but others may not want to because it can be expensive to get in.
For example, you should first establish whether or not you want to buy/hold or buy/sell (i.e. flip). Once you have that established, you will be able to narrow down your choices. Your next step would be to start combing blocks in the neighborhoods you can buy in to see what's available. After you find some properties you're interested in, run the numbers on each one to estimate what you return might be.
If you'd like to look at properties or just understand what options are available in Philadelphia, Brown McKinney specializes in working with investors. Please check out our website (specifically my web page) when you have a moment today and don't hesitate to contact me with questions.
Best of luck!
Timothy M. Garrity | Brown McKinney Real Estate Co.
Real Estate Professional & Consultant
email@example.com Email| http://www.brownmckinney.com/tim Website
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Coldwell Banker Hearthside
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