Global Prope…, Both Buyer and Seller in Philadelphia, PA

Philadelphia, Pa. Specifically University city district both inside and outside the catchment zone. What?

Asked by Global Property Group, Philadelphia, PA Mon Aug 11, 2008

has been the housing appreciation rates and what is the Expected rate over the next 3 to 5 years.

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Answers

2
Bruce Lang’s answer
you asked this question some time ago....and interesting facts. the catchment avoided a downturn for a while, but did seem to get hit last year. this year we have seen record prices return to garden court condos (not in the catchment) and some homes which would have sold for 500k now selling for 4430-460k...so, its still about availability and supply and demand.
0 votes Thank Flag Link Sun Aug 28, 2011
That is a difficult question... with the uncertainty in the housing market, I think it will be tricky for anyone to answere that question. Now there is also the risk that mortgage rates will be trending up above 7 in the next 3 to 9 months.

That being said, if Philadelphia does well, this area will do exceptionally well. It already has. This has been the focus of a lot of investors due to its past appreciation and expected appreciation and growth. The great news about Philadelphia real estate is that our market has been very resilient and is really positioned to do well with strong jobs, high demand of housing due to the Univeristies, healthcare industries and so forth.

If you are interested in making an investment in the area, I would recommend visiting our site below. You can contact us from there directly. Visit our blogs as well.
0 votes Thank Flag Link Mon Aug 11, 2008
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