Looking to buy ..priced out of Fishtown/NoLIbs. I am torn between East Ken and Port Richmond - could someone talk pro/cons & future

Asked by Kingtmo, Henderson, NV Tue Aug 23, 2011

developments. I know both areas are pinned as "up and coming" They are attractive as they are close to Fishtown and NoLibs. I am 26, vibrant, and enjoy that community feel of young like minded professionals. Would East Kensington (Hundington/Collins/ Harold sts) Port Richmond ( Almond st close to Wawa/Applebees/PlanetFitness) offer the that great feel that is found in Fishtown? Is the area going to experience much growth?

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Larry Lichtman’s answer
Larry Lichtm…, Agent, Bala Cynwyd, PA
Wed Aug 24, 2011
Hi Tunde,

You should definitely checkout South Philadelphia. There are some great, vibrant, strong "up and coming" neighborhoods in South Philly. You have easy access to Center City, Rittenhouse, East Passyunk, and all the amenities within a few miles. A very walkable area. Michael Garden suggested Newbold which is the neighborhood just West of East Passyunk Square & Crossings. That is definitely worth checking out too. Although I thimk you'll like the feel of the East side much better.

Please feel free to call me. I'd be happy to give you a tour of the neighborhoods that you may fall in love with.

All the best,
Larry Lichtman
REALTOR, Property Manager
Your Real Estate Resource For Life
Cell/Text: (267) 254-7994
LarrySellsRealEstate@gmail.com
2 votes
Michael Gard…, Agent, Philadelphia, PA
Tue Aug 23, 2011
BEST ANSWER
Based on your description of yourself, I suggest Newbold. More access to more amenities or a better investment because it is a smaller neighborhood that is moving up faster.. High walk score. Good public transportation and the Passyunk Corridor just blocks away. I can show you a few listings there and what they neighborhood has to offer that will probably make you forget about Port Richmond. Call or email: 215 500 2981 or mg@michaelgarden.com
Web Reference:  http://www.michaelgarden.com
0 votes
Julie Hankins, Agent, Philadelphia, PA
Wed Aug 24, 2011
Trunde,

I do a ton of work in these area's and I can tell you I see so much going on and so much more to come. Currently I have a few listings in Port Richmond and one coming up in East Kensington, all completely renovated homes. Like some of the other agents stated, we can't see into the future and say which area will grow more than the other, but what I can say is about 10-12 years ago, no one ever thought Northern Liberties, or even Fishtown for that matter, would be as popular as they are today.

It is a great time to be in your position with buying your first home, interest rates are at their all time low, there are still som grant programs out there for 1st time home buyers (which I can tell you more about), and prices for the most part in some area's have hit bottom and areas are stabilizing. But the days of owning a home for a year or two and the reselling for a profit are over, so I would suggest owning your first home for 5+ years to give you the ability to gain more equity in the home as well as appriciation.

There are some great points that the other agents have made, so definately take into account the block, proximity to where you work, and how close or far you want to be to friends and family.

Please feel free to call me with any more questions you may have about the areas, or about the 1st time homebuyer program, or if you want to see the homes I currently have for sale there. I would be more than happy to help you buy your first home, I work with 1st time home buyers every day and truly enjoy helping some one buy their first home!

Julie Hankins, Realtor
HomeStarr Realty
267-528-0145 direct
484-368-4558 cell
j.augustin3@gmail.com
1 vote
John Leonard, Agent, West Chester, PA
Tue Aug 23, 2011
Hello Tunde,

first - the honest answer... my crystal ball is no better than yours or anyones. the housing market in the border regions of central philadelphia continue to grow. but much more slowly than in the boom years (and the boom lasted a little longer in phila than in the burbs). In any "edge" area, the trick is:

a. evaluate the block VERY carefully. that makes all the difference.

b. per the above... 5 blocks make a difference in value (or what you should pay) quite a bit. as a rule, the
block adjacent to the more devleoped area is worth more than the one 5 squares further away.

c. in any case.... do not overpay for the "gorgeous rehab" that is 8-10-12 blocks from the more established
area. it should normally not command 90% of the established area, even though it is SHARP looking.

for my money - i'd look first at port richmond. you ought make a feel based on the geography of the rest of your life - whats near the people important to you, near work, etc. then on budget.

call write text if you would like to chat further.

John Leonard
Long & Foster Real Estate
610-742-9389
john.leonard@lnf.com
1 vote
Frank McGove…, Agent, Philadelphia, PA
Tue Aug 23, 2011
I would def say go with east kensington. I think it will see the type of growth fishtown had in the recent past. There is significant new construction going on and rehabs all over the place. That isnt happening nearly as much (especially new construction) in port richmond. And you can still get in their relatively cheap. Not only is it an up and coming neighborhood but it would be a great investment if you live there for 5+ years. I feel if you buy now, you will see significant appreciation over the next 5+ years. if you need help looking for some properties, give me a call at 2158405349. Hope to hear from you soon!!!!
1 vote
Phil Green, , Philadelphia County, PA
Tue Aug 23, 2011
Hello Tunde,

You too? I am also in you age range and looking to buy in the port Richmond/fishtown area. Good thing is I am an agent so I have a better understanding of these neighborhoods in terms of real estate and land value. I think this would be a great opportunity for me to work with you on your purchase since we're both searching in the same area. This will allow both of us to learn a lot and to make the best purchase for both of ours needs, particularly yours if you allow me to represent you. I would love to talk to you a little more. Please give me a call.

Best wishes,
Phil Green
Philgreenrealtor@gmail.com
2158522041 c
1 vote
pretender9763, , Philadelphia, PA
Thu Mar 14, 2013
THERE IS PLENTY OF VACANT LOTS THAT CAN BE BUILT ON IN THE KENSINGTIN AREA
0 votes
Bruce Lang, Agent, Philadelphia, PA
Sun Aug 28, 2011
I think you should sepend time there, days and nights, also visit other areas in similar price ranges like Whitman, or other areas which you are interested in living in. best wishes.
0 votes
Carol Cei, Agent, Maple Glen, PA
Wed Aug 24, 2011
Dear Tunde,

Why don't you check out http://www.city-data.com/forum. You will find lots of info from "insiders"...people who actually live in your areas of choice and have a better pulse on what is happening there.

No one can see into the future. It will be anyone's guess to see if Port Richmond and E. Kensington will become similarly gentrified as Fishtown and Northern Liberties.

Good Luck with your decision.

Carol Cei, Realtor, ePRO
Five Star Professional
ReMax Action Realty
215-643-9661 - Direct
215-358-1100 x1223 Office
carol@carolcei.com
Web Reference:  http://www.carolcei.com
0 votes
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