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John, Home Buyer in Philadelphia, PA

Does anyone know about the area of Francisville? It begins two blocks west from the neighborhood of Fairmount

Asked by John, Philadelphia, PA Tue Mar 31, 2009

and sits across the street to the north from the Spring Garden area. It is surrounded by solid neighborhoods but does not show alot of signs of gentrification. I found a house there I like but was concerned about it being a good investment. Any advice?

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John,

Francisville is slower to gentrify compared to areas of the city closer to Center City. You will see that the growth/gentrification trend in neighborhood development all across Philadelphia is going to moderate a bit in this economic season. But it is my opinion that the Francisville area will continue to develop.

If you want to buy there right now and hold on to your property for 5 years or so, I believe you will be happy with your investment. But, the days of 30% appreciation in a blink of an eye may be gone for a long time due to the hard lessons learned during the last few years of the real estate market bubble.

My personal thought for you is this... if you feel as though the neighborhood in it's current condition will satisfy your life style and personal needs for the next couple of years, then you should be fine as far as return on your investment. If folks like you (pioneers if you will) buy in these neighborhoods, you will be creating comparable sales for other folks who are considering buying in that very same area. The more people who buy in the neighborhood the greater demand for the creature comfort businesses such as cafe's, restaurants, local community venues and so on.

Truth be told, most of my clients do not want to be "pioneers" but they are completely priced out of the Central Art Museum Neighborhood. It is a hard decision. If you have 5 years, in my opinion, you will be happy with your decision.

I feel equally bullish about the Old Kensington Neighborhood close to Girard Avenue and all the way North to Oxford. That area is East of Broad Street. The catalyst neighborhood in that section is Northern Liberties. These fringe neighborhoods are accommodating to those who want to take advantage of the culture and social hubs found in higher priced subdivisions.

I hope you find my view an interesting perspective.
Web Reference: http://thesomersteam.com
2 votes Thank Flag Link Tue Mar 31, 2009
John,

If you are still having questions/doubts about Francisville, know that with the continued development of the area and businesses, you would have a solid investment.

Brewerytown is also seeing a flurry of investors and developers as people wait to see what another hot area has in store. More and more businesses are investing in Girard Ave and Fairmount Ave East of 20th Street.

Telas Market just opened on 19th and Fairmount and is a great place to eat after you venture around Francisville.

As a FCDC Board Member, I can say that the future development is headed in the right direction.
0 votes Thank Flag Link Fri Jan 24, 2014
I think Francisville is a fantastic location to invest in. There is a ton happening in the neighborhood, even if it's hard to see from the perspective of a passer-by. If you look into zoning variance and permit applications, you would see that there are a lot of projects that are close to breaking ground. On top of that, Francisville borders on the Broad Street line, and is surrounded by multiple neighborhoods that are booming. Any neighborhood that is an easy commute to center city, easy to park in, walkable to a multitude of restaurants, bars, shops, and parks is a sure bet. Francisville fits the bill. If you are looking to occupy the home now, but potentially move in the future, it is also position as a high rental area with easy access not just to Center City but to Temple and Temple Hospital.
If you want to know more about what's coming- feel free to reach out to me!
0 votes Thank Flag Link Fri Dec 6, 2013
Francisville is between Girard & Fairmount Ave from North to South, and from Broad St. to Corinthian from East to West. In my opinion, this would be a great time, as an investor, to purchase property in the this neighborhood. There is already a significant amount of development going on in this area so the longer you wait, the more inflated prices will be in the neighborhood thus lowering your potential return on investment. There are many Temple students venturing out into this area as well as many other young professionals. So to answer your question, if you find a home that is priced right in the neighborhood I would go for it because the value will continue to appreciate over the next 5 to 10 years. If you have any questions at all or would like help finding the right property in this neighborhood feel free to give me a call at 203-215-8400.

Don DeGennaro
The Dale Archdekin Team
Coldwell Banker Preferred
ddegennaro@cbpref.com
203-215-8400
0 votes Thank Flag Link Mon Jun 17, 2013
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