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Market Conditions in 19154 : Real Estate Advice

  • All39
  • Local Info2
  • Home Buying22
  • Home Selling2
  • Market Conditions0

Activity 90
Thu Aug 19, 2010
Jose Rubio answered:
I'm not in that area so I can't answer the 1st part of the question, but regarding the 2nd part. The closed transactions in the MLS is less than the total of closed transactions since the total includes home sold "by owner" The information is publicly available, but not easy to get to... try to google for the county's real estate records. ... more
0 votes 4 answers Share Flag
Sat Jun 15, 2013
Larry Lichtman answered:
Checkout Rentometer.com., LoopNet.com, MLS. You may want to build a relationship with a real estate professional who can run comps for you.

Please feel free to call me to discuss what you are looking to do. Maybe I can assit you. Have a great day.

All the best,
Larry Lichtman
REALTOR, Property Manager
Your Real Estate Resource For Life
Direct CELL (267) 254-7994
LarrySellsRealEstate@gmail.com
... more
0 votes 3 answers Share Flag
Mon Aug 9, 2010
Lorri Paster answered:
Hi There!

In the past year, four units have sold...the 1 bedroom, 1.5 bath unit sold for $235,000 back in Aug of 2009, three 2 bedroom 2 bath units sold, one for $270,000 in Oct of 2009, one for $275,000 this past March, and one for $342,000 in June.

If I can be of further assistance, don't hesitate to email me at: lpaster@weichert.com and I would be pleased to assist you.

Best regards,
Lorri Paster
... more
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Thu Aug 19, 2010
Agent Hub answered:
40th and Spring Garden is on the outskirts of the Drexel campus so it can be expected that in the coming years as Drexel expands home pricing in the area will increase. Increased admission to both Drexel and Penn with limited housing on campus will likely increase the need for off-campus rentals also driving up rental costs in the areas nearest campus. Students looking for less expensive housing will be migrating farther from campus to developing areas such as 40th & Spring Garden

Multi-units and larger Victorian homes, like those around that area, are great investments because of the student population.

In my opinion the area is improving at a steady rate.

If you would like to know more about that area please don’t hesitate to contact me .

Happy hunting!

Mike Kind
“The Right Kind”
Coldwell Banker Preferred
(215)609-3310 Direct
(215) 923-7600 Office
mkind@cbpref.com
... more
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Wed Jul 14, 2010
Timothy Garrity answered:
Hi, Sid.

I took a look at similar properties (3 Bed, 1 Bath) within 0.5 miles of your block. There have been 3 sales in the past 6 months and they range anywhere from $29,000 - $48,000 depending on the condition of the property.

Brown McKinney's office is actually located in the 19121 zip code and has listings in the area. If you would like any further information, please let me know how I can help.

Best of luck!

Tim

Timothy M. Garrity | Brown McKinney Real Estate, Co.
Real Estate Professional & Consultant

tgarrity@brownmckinney.com Email| www.brownmckinney.com/tim Website
215-825-2250 x 1007 Office | 267-879-2716 Mobile | 267-519-5490 Fax
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Sun Jan 30, 2011
James Yoakum, SFR answered:
Center City in general has held up fairly well in terms of values. What has changed is that there are fewer active buyers out there now, so if you're looking to buy you'll have plenty to choose from and not much competition. In Old City the projects that were finished several years ago are, for the most part, doing very well. They sold most of their units before the downturn and have been able to keep selling at a decent pace by emphasizing today's great interest rates and the recently-expired tax credits. A few projects suffered from bad timing, coming online just as the market turned down - those are still mostly empty and struggling, and should be avoided by all but the bravest buyers who don't mind dealing with a struggling condo building in order to snag a bargain.

Aside from condos, the market for single family rowhomes has remained strong, and there's less oversupply in that category.

I'm happy to talk more in depth about your particular situation if you'd like.

James

James Yoakum - Realtor, SFR
Brown McKinney Real Estate
1631 W. Cabot St.
Philadelphia, PA 19121
office: 215-825-2250 x.1002
cell: 267-496-7739
fax: 610-910-3046
jyoakum@brownmckinney.com
... more
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Wed Feb 26, 2014
Anna M Brocco answered:
Keep in mind that opinions are often suggestive--unfortuantely, areas change all the time and who knows what will happen tomorrow, let alone in ten years --none of us can answer with certainty what tomorrow will bring. ... more
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Wed Jul 14, 2010
Brian Fletcher answered:
Y-O-Y means Year over year. It is an investment comparison.
W-O-W means Week over week. It is also an investment comparison.

If you need anything else, let me know. I like to work with investors, and I can help you with the hard money situation too.


Thanks,
Brian Fletcher
Lincoln Realty
610-312-3158
... more
0 votes 1 answer Share Flag
Sat Apr 24, 2010
James Yoakum, SFR answered:
There's no easy answer to that question. In most parts of point breeze the highest and best use for a property is residential unless you're talking about a large parcel that can be used for more intensive commercial development (like a whole block, or half-block sized parcel). There is a plentiful supply, and only modest demand, for vacant commercial space in the area in the form of corner stores and commercially-zoned, rowhouse-style properties, so for those the commercial zoning adds little if any value since they're probably worth more when converted to residential use.

Hope that's helpful and feel free to contact me to discuss your specific scenario or questions.

James Yoakum - Realtor, SFR
Brown McKinney Real Estate
1631 W. Cabot St.
Philadelphia, PA 19121
office: 215-825-2250 x.1002
cell: 267-496-7739
fax: 610-910-3046
jyoakum@brownmckinney.com
... more
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Tue Mar 23, 2010
Porsche asked:
What is the status of this market right now and how does is it affecting this demographic?
0 votes 0 Answers Share Flag
Thu Aug 19, 2010
Alexander Shulzhenko, ePro answered:
Hello Movingout,

I am not sure i follow your question. Do you want to know how long they are on the market before they are sold? or Do you want to know about a particular home and how long has it been on the market?

Alexander Shulzhenko
Realtor®
Advance Realty One
realexs@gmail.com

www.eRealtyFind.com
(267) 738 0886
... more
0 votes 0 Answers Share Flag
Fri Feb 19, 2010
Dan Chase answered:
Below is a blog showing how to decide that. Plug in your numbers and find out.
http://www.trulia.com/blog/dan_chase/2010/01/does_it_make_more_sense_to_buy_or_to_rent_look_at_the_numbers_and_decide_for_yourself

Under 5 years most of the time I would expect it is cheaper to rent than to own. It is definitely less hassle. You never have to replace a roof or furnace. Do not forget to calculate in selling costs. Most realtor commissions are about 6%. That adds up quickly. Look at your amortization, and you get hit hard most times buying short term.

If prices drop that would be a bigger drop in your wallet.
Below is a real estate prediction site. It gives a possible factor in price changes in real estate. It could be right, it could be wrong.
http://www.housingpredictor.com/pennsylvania.html
... more
0 votes 8 answers Share Flag
Tue Jan 12, 2010
Jeanne Feenick answered:
Hi there, I'm here in New Jersey, Somerset County specifically. I have found that the rental market has indeed softened as buyers lured by the first time tax credit have come off the fence. Without this incentive, these would have been tenants. And so, yes, I am finding the rental prices have come down, and time to rent has gone up.

Jeanne Feenick
Somerset County, NJ
www.feenick.com
... more
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Mon Mar 15, 2010
Renee Porsia answered:
Jkandem,

Probably because they are under contract to continue to build. That would be my guess but just because a builder sets a price for their new construction doesn't mean that's what its worth. That's why buyers need to hire their own buyer agent and never go through the builder but many home buyers are not aware that they can have their own buyer agent negotiate for them. Many buyers just go look at new construction because they were simply driving by never knowing that they are giving up their rights to private representation because once you go into a new construction home or development without your Realtor the first time, the builder won't allow you to have your own Realtor which in my opinion is wrong on so many levels.

If they are not selling its because they are priced too high and if I had a buyer looking there, I'd try to negotiate as low as I possibly could for them.

Renee Porsia
Associate Broker
RE/MAX ACTION
(215) 669-0589 Direct
(215) 358-1100 Office
http://www.reneeporsia.com
... more
0 votes 3 answers Share Flag
Fri Oct 9, 2009
Carmel Archdekin answered:
Malik,
Philadelphia is very large and like New York, you can find great opportunities for rentals in some areas and then you will find areas where you will never cash flow. The best advice I can give is to find areas that are in student demand such as Temple University area, UPENN and Drexel area and Manayunk where there are several other smaller schools. Temple for example has a shortage of student housing on campus so off campus within walking distance to school is in great demand. You will find that rents are from 400-500 per bedroom. In West Philly where you will be focused on UPENN and Drexel, the rents may be a little higher depending on where you are.

As an investor, I believe these areas are a win win for cash flow and longevity.
Please call me if you have any questions or would like to work with me and my team on adding to your rental portfolio.

Did you know there are only 2 months left until the Free $8,000 tax credit expires?
Start looking NOW – the average homebuyer takes 2-3 months to find and settle on a home
The deadline to settle is November 30th 2009—do your friends a favor, tell them to call us today

Carmel Archdekin
REALTOR
Coldwell Banker Preferred
223-225 Market Street
Philadelphia PA 19106
Office: 215.923.7600
Cell: 215.680.5998
EFax: 215.940.8207
www.cbpref.com
WINNER OF 2008 COLDWELL BANKER ACHIEVERS SOCIETY AWARD
... more
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Sun Sep 20, 2009
Sean Dawes answered:
Center city is a very broad term. What subdivision are you looking at? Also what kind of investment property are you looking at?

The more details the better.


Sean Dawes
0 votes 4 answers Share Flag
Fri May 15, 2015
Person answered:
Hi. I live at River Park house. It has many pros, and some cons.
Pros include: Pool, Gym hardly anyone uses, gated parking, utilities included in rent (awesome) and an amazing view of Fairmount park. And internet is basically free. Everyone's pretty much nice, I've never had noisy neighbors and (on the flip side) been complained about for being too noisy. To tell you the truth, its the best apartment I ever had. Its really pretty, has a washer, dryer, dishwasher, garbage disposal, awesome gigantic windows and high ceilings.

Cons: No dogs, Many of the people living there are very old and retired, so they are CRAZY about rules. When you move in, they have some hidden fees like the random $200 "move in fee" and the gate clicker $65, and the pool, gym, and garage is not included. You have to pay $100 for the gym key (yearly), same with the pool. The garage is expensive, but if your lucky enough to get home before 7 or 8 pm, there is usually a space outside, but still in the gate. Moving in was horrible, and I expect moving out to be just as bad. You need to call in advance, they bounce you around from person to person on the phone, and they expect you to have everything in or out and have the Uhaul off the property before 2pm on a weekday!!!

So all in all, its a great place to live, once you figure out how to move in.
... more
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Tue Apr 5, 2011
Mike Rosania answered:
Everyones opinion of a neighborhood is going to vary. You as the buyer need to be comfortablel iving in a neighborhood tht best suits your needs (is it close to schools, transportation etc) Your next step would be to have an agent advise as to the pricing of the house. Is it too high, too low, priced to sell? You can do your own research also, there are plenty of websites that offer all types of information including Trulia.

As far as the comment below, real estate is a local market. If you do your research you will see that Philadelphia's market is one of the strongest and values for the most part have been very stable. There are even a few areas where values have gone up. Now is the time to take advantage of the market while there are still incentives to buy and please dont take advice from someone who has no idea about our local market.

If you are looking for an agent to represent you please feel free to contact me anytime. I am a full time PA and NJ licensed real estate agent who is very familiar with the Philadelphia and S. Jersey markets
... more
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Sat Aug 15, 2009
Bill Eckler answered:
This is a service that a local real estate professional can provide for you.Contact one for their assistance,
0 votes 2 answers Share Flag
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