The National Association of Realtors lowered its existing-home-sale projections for 2010 and increased those for 2011 in its latest monthly forecast released Thursday.
The association expects sales of resale single-family homes, condos and co-ops to rise 6.5 percent in 2010, NOT 9% as originally predicted. Additionally, NAR projected a 3.8% increase in 2011. New home sales are projected to face double-digit declines.
Regardless, NAR anticipates a 15.4 percent rise in housing starts in 2010 and a 62.1 percent rise in 2011.
NAR expects existing-home median prices to rise nearly 3% in 2010 and 4% in 2011.
So, all in all this is good news for Philadelphia Home Owners!
The following Market Snapshot Chart shows the year in review for Mt Airy (west), 19119.
EastMount Airy area is a very diverse, family friendly neighborhood. As of the 2000 Census, Mount Airy has 28,873 residents in 11,986 households out of which 26.9% have children under the age of 18 living with them, 34.8% are married couples living together,and 40.3% are non-families. 22.4% of Mount Airy’s residents are under the age of 18 and 16.7% are 65 years and over. The median age is 40.3 years. 56.4% of residents are female, 43.6% male.
The statiastical charts and detailed sales data below sums up the entire year for Mt Airy (west), Philadelphia Real Estate.
To receive information on what your Philadlephia home would sell for contact Antonio at 215.917.1213
The following Market Snapshot Chart shows the year in review for Mt Airy (east), 19119.
Mount Airy is recognized as one of the first successfully integrated neighborhoods in America. It was recently cited in Oprah Winfrey’s O magazine and by US News & World Report for racial harmony and balance. In Mount Airy 114 MLS sales were settled in 2009. The lowest being 260 E Sharpnack St for $19,000 and the highest being 212 E Gowen Ave for $665,000.
The statiastical charts and detailed sales data below sums up the entire year for Mt Airy (east), Philadelphia Real Estate.
To receive information on what your Philadlephia home would sell for contact Antonio at 215.917.1213
The following Market Snapshot Chart shows the year in review for Fishtown, 19125
It’s easy to tell that the Fishtown area is one of the new “up-and-coming” neighborhoods in Philadelphia. The industrial neighborhood has been revamping it’s old run-down warehouses into art studios, bringing in a flood of young artists and new appeal to the area. It’s no wonder they had 311 MLS sales in 2009! A townhome on 2315 Amber St sold for $19,900, making it the lowest sale for the area for the year. The winner with the most expensive property of goes to the fellows on 1377 Crease St who settled with $445,000!
The statiastical charts and detailed sales data below sums up the entire year for Fishtown, Philadelphia Real Estate.
To receive information on what your Philadlephia home would sell for contact Antonio at 215.917.1213
The following Market Snapshot Chart shows the year in review for Washington Square West, 19107 & 19147
Much like it’s sister neighborhood Old City, Washington Square West equally shares in it’s the historic charm. They had a modest year in 2009 with 92 MLS sales. The lowest sale of the year was a condo at 1324 Locust for $112,000 with this highest sale at 118 Catharine for $1,200,000.
The statiastical charts and detailed sales data below sums up the entire year for Washington Square West, Philadelphia Real Estate.
To receive information on what your Philadelphia home would sell for contact Antonio at 215.917.1213
The following Market Snapshot Chart shows the year in review for Old City, 19106
Having a mixture of a wild nightlife and family-oriented historical sitings, Old City has it all! Being one of the oldest neighborhoods (what gave it away?) Old City has kept it’s charming brick roads and neatly cut parks, making it one of the most desirable neighbors to visit and/or live in. They had an honorable year in 2009 with 107 MLS sales. The lowest sale of the year was a condo at 309-13 Arch for $164,000 with this highest sale at 33 N 3rd St for $1,700,000.
The statiastical charts and detailed sales data below sums up the entire year for Old City, Philadelphia Real Estate.
To receive information on what your Philadlephia home would sell for contact Antonio at 215.917.1213
The following Market Snapshot Charts shows the year in review for Rittenhouse Square Real Estate, 19103
If you find yourself sandwiched between Fairmount and Graduate Hospital, or better yet, sandwiched between professionals in suits talking in their blue-tooth ear-pieces, then there’s a good chance you’re in Rittenhouse Square. This is the area where you will find everything that you need in arms reach. From shopping at Juicy Couture and Burberry to drinking fancy beers at Meme (menu theme designed by Ralph Steadman himself!) to simply eating a cheesesteak under a tree at Rittenhouse Park - this neighborhood has it all! 170 properties were sold in 2009. The bargain one being a condo at 2101-17 Chestnut St for $110,000 and record breaker at 2508 Delancey Place for $1,800,000!
The statiastical charts and detailed sales data below sums up the entire year for Rittenhouse, Philadelphia Real Estate.
To receive information on what your Philadlephia home would sell for contact Antonio at 215.917.1213
The following Market Snapshot Chart shows the year in review for Logan Circle/ Logan Square , 19103
The Logan Circle/ Logan Square neighborhood is over 150 years old and is home to many fine institutions, restaurants, businesses, public spaces and, of course, neighbors. Just like it’s sister neighborhood, Fitler Square, it too finds it’s having a somewhat difficult time moving real estate due to it’s popularity and pricey properties. This shows with only having 26 MLS sales in 2009. A condo at 1900 JFK sold for only $60,000, making it the least expensive sale and 2200 Arch St had the most expensive at $1,200,000.
The statiastical charts and detailed sales data below sums up the entire year for Logan, Philadelphia Real Estate.
To receive information on what your Philadelphia home would sell for contact Antonio at 215.917.1213
The following Philadelphia Real Estate Market Snapshot Chart shows the year in review for Philadelphia Real Estate in Bella Vista, 19147
Italian for “beautiful sight”, the Bella Vista area holds true to it’s translation. Bounded from South Street to Washington Ave, from 6th Street east to 11th Street west, this neighborhood is ideal for a lovely stroll to get a cup of coffee and some fresh produce from the famous Italian Market. They welcomed 109 new neighbors last year, with a wide variety of sales! They range from $8,000 (a condo on 714-22 Bainbridge) to $1,095,000 (another condo on 619 Catharine).
The statiastical charts and detailed sales data below sums up the entire year for Bella Vista, Philadelphia Real Estate.
To receive information on what your Philadlephia home would sell for contact Antonio at 215.917.1213
The following Market Snapshot Chart shows the year in review for Philadelphia Real Estate in the Graduate Hospital Neighborhood, 19146.
From South to Washington, and from Broad to Grays Ferry Ave, you will find the hospital-less neighborhood of Graduate Hospital. It seems that the very hospital that coined this area’s name closed it’s doors in 2007, but that doesn’t mean that neighborhood has nothing to offer. Only being a stones throw away from Center City, Graduate Hospital is rich with culture, fancy bars, and of course, desirable real estate. Having 279 MLS sales in 2009 is easily enough proof to show how up-and-coming this area is! The lowest property sold on 1607 Manton St for only $28,000 while the highest property on 1433 Bainbridge sold for $1,725,000!
The statiastical charts and detailed sales data below sums up the entire year for Graduate Hospital, Philadelphia Real Estate.
To receive information on what your Philadlephia home would sell for contact Antonio at 215.917.1213
Great news for Philadelphia Real Estate, the U.S. mortgage rates dropped for a second consecutive week, remaining below 5.0 percent, a key level that may boost home loan demand.
The lowest mortgage rates in decades and high affordability helped the real estate market come back after a three-year slump.
The National Association of Realtors predicted the prices will rise on average 12% in 2010. One can expect to see Philadephia Condo and Philadelphia townhouse price increasing in 2010 as well.
Forecasters are predicting the snow will begin to fall about 4 p.m. and blanket the Philadelphia metro area with up to 12 inches through Saturday morning.
Philly will offer a special 24 hour flat snow rate of $5.00 for parking in all of the PPA’s center city garages, starting Friday night through Sunday evening.
The special $5.00 snow rate for 24 hours of parking is being offered at Center City garages owned or operated by the PPA:
Gateway at 16th & Vine
AutoPark at JFK (16th & JFK)
AutoPark at Independence Mall (5th & Market)
AutoPark at Jefferson (10th & Ludlow)
AutoPark at Gallery Mall (10th & Filbert)
8th & Filbert
To report a street in need of salting or plowing or for more information on any Streets Department program or service, call 3-1-1. You may also visit us on-line at www.phila.gov/streets/SNOW.
Our friends at Coldwell banker created this chart, but forgot to include Keller Williams. We know are the new kid on the block, but with more than double the transactions than CB we can’t figure out how they missed us. So we felt compelled to update the chart to include ourselves.
RAW DATA for all units sold in above counties according to TReND MLS:
Mortgage rates fell this week, for the 3rd time, pushing the the 30-year fixed-rate below 5%.
Treasury yields have declined recently, and mortgage rates generally follow.
The 30-year fixed-rate mortgage averaged 4.99%, down from 5.06% last and 5.12% last year. Rates for 15-year fixed-rate mortgages were 4.4%, down from 4.45% and 4.8%, respectively.
Additionally, the Mortgage Bankers Association stated application were up 9% compared to the previous.
For more information on mortgage deals on Philadelphia Real Estate contact Carena at 267-238-5785 or cmarchese@bankahb.com
The following Market Snapshot Charts shows the year in review for Art Museum Real Estate, 19130
And what a busy year it was for the Art Museum area. With over 330 MLS sales it was the 2nd busiest zip code in the Center City Area. There were many bargains to be found with the lowest priced one being a house on 1912 Cambridge being sold for only $40,000! The most expensive home sold in ONLY 9 days at 16th & Green for $925,000.
The statiastical charts and detailed sales data below sums up the entire year for Art Museum, Philadelphia Real Estate.
To receive information on what your Philadlephia home would sell for contact Antonio at 215.917.1213
Keller Williams Realty joined the ranks of the top franchises in the world last week, when the company was ranked as the No. 1 real estate franchise on the 31st Annual Franchise 500 list by Entrepreneur magazine. During the same week, the company was also voted the Most Recognizable Brand of Real Estate Franchises for 2009 in an industry-wide survey for the Swanepoel TRENDS Report.
According to the ranking in Entrepreneur magazine, the most important criteria to determine the top franchises included financial strength and stability, as well as growth rate and size of the franchise system. The magazine also looked at the number of years the company has been in business and the length of time it’s been franchising, in addition to start-up costs and financial data. Additionally, Keller Williams Realty made an impressive showing on the overall list, placing higher than any other real estate franchise.
The Swanepoel TRENDS Reportis published by Stefan Swanepoel, a real estate industry speaker and insider. The survey was crafted to determine the Most Recognizable Brand for Real Estate Franchises for his report out in February 2010. The survey included votes cast by 11,000 plus real estate agents, who cast 390,000 votes to select the top 10.
Earlier this year,Keller Williams Realty was ranked #1 in overall satisfaction ratings from home buyers among the largest full-service real estate firms from J.D. Power and Associates for the second year in a row.
Keller Williams is a real estate brokerage that was created by agent for agents. Its model emphasizes access to leading-edge education and technology, while promoting an economic model that rewards associates as stakeholders and partners. For more information, including videos on profit-share and agent ownership visit http://kwconnect.kw.com/connect/
The following Market Snapshot Charts shows the year in review for Society Hill Real Estate, 19106 & 19147.
And what a year it was for Society Hill. A Washington Square condo was snapped up for only a $150,000, while a stately historic mansion was sold for a cool $3 Million.
The statiastical charts and detailed sales data below sums up the entire year for Society Hill, Philadelphia Real Estate.
To receive information on what your home would sell for contact Antonio at 215.917.1213
November, was the 3rd month in a row home sales rose and are up 44% over November,2008, according to the National Association of Realtors (NAR). Sale ares up 7.4 percent compared to October 2009.
Regionally, the sales rate rose 53.5% in the Midwest, 52.7%in the Northeast, 44.8% in the South and 28.1% in the West compared to November, 2008. NAR attributed the “expected” rise to “a rush of first-time buyers not wanting to miss out” on a federal tax credit.
The Philadelphia Market ranked in The Top 10 with a 78% growth (see chart).
The median sales price of resale homes was down 4.3 percent, to $172,600, in November compared to November 2008. Regionally, the median price slipped 13.1% in the Northeast, 4.1% in the West, 1.4% in the South and 0.4% in the Midwest year-over-year in November.
The months’ supply of resale homes for sale was down 40.9 percent in November 2009 compared to November 2008, at 6.5 monthsThis statistic is a measure of how many months it would take to deplete the for-sale inventory at a given month’s sales pace. An inventory of six months can represent a rough equilibrium between a buyer’s market and seller’s market, with a lesser inventory representing a buyer’s market.
A mixture of style & functionality, this stunning and spacious 1 bedroom & den/office/bedroom condo in the heart of Queen Village is now available for the buyer unwilling to compromise on finishes or amenities. An absolute must see, as this bright corner unit, which features 12′ ceilings and 8′ windows with fantastic city views, was over-improved with upgrades including heated concrete floors throughout the living areas & bathroom; Lutron Radio-RA lighting system for full scene and setting programmability; 3-sided fireplace with glass tile surround and hidden built-in TV, wine cooler and bar cabinet; 36″ Wolf range/oven with infrared grill and convection oven; Advantium speed-cook/microwave oven; Fisher & Paykel drawer dishwasher; dual Liebherr and U-Line drawer refrigerator/freezers; Mahogany pocket doors and trim throughout; central high-end audio system with multi-zone capability and built-in living room surround sound; coffered lighted ceilings in bedroom, living room, and office; Karastan 100% wool bedroom carpet; built-in ASKO washer & dryer; custom window treatments; cost-efficient on-demand hot water heater; extra-deep air-bath tub with chromatherapy; toilet area with separate sink to function as a half-bath separate from the main bath area. Huge in-unit attic & additional basement storage that will take years to fill! Parking, which can potentially accommodate 2 cars, is available at additional cost of $35,000. Historic and beautiful elevator building that allows pets. Wide doors & halls make for an easy move. What are you waiting for?!
Wow, what a year for Philadelphia Real Estate. The inventory decreased by over 70%, for the homes that did sell they sat on the market for about 6 months, but the median price per square foot increased.
There are about 1,490 properties on the Philadelphia Real Estate Market on 12/13/9.
The median price per square foot for Philadelphia Real Estate as of 12/13/9 is $134.
The average Philadelphia Home For Sale on 12/13/9 has been for sale for 184 days.
The median price single family Philadelphia home for sale is $211,646.
With a Market Action Index (MAI) as of 12/13/9 at 17.43, the Philadelphia Real Estate Market is a buyer’s market. The MAI illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory. An MAI value greater than 30 indicates a “Seller’s Market” because demand is high enough to quickly gobble up supply. Values below 30 indicate a “Buyer’s Market” where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. .
Our Holiday Party was so much fun! The Social Committee did an outstanding job by renting out Jolly’s Piano Bar, serving delicious drinks and fine catered food. Although the Patrone shots seemed to be pouring a bit too fast.
Cristian congratulated us for after only 2 years we are the fastest growing office in Phildelphia and Keller Williams is #2 for units in both the city and the state according to TReND so far this year.
The Cultural Committee gave out the usual awards like “Top-Producer”, but added brilliant awards this year like “Most Loved” and “Best 1st Impression” and “Most likely To Flip a Hotel.” Kristin Daly proved to be a natural on stage and our 100+ guest had a fabulous time.
What a great way to end an awesome year and kick-off an even better one yet to come.
The IRS allows for many moving related deductions, so check here before you file if you own Philadelphia Real Estate. Click below to find more information about the NEW 2009 Reinvestment Act
or check the following publications by form numbers…
5405 1st Time Home Buyer Tax Credit
521 “Moving Expenses”
523 “Selling Your Home”
527 “Residential Rental Property”
534 “Depreciation”
541 “Tax Information on Partnerships”
551 “Basis of Assets”
555 “Federal Tax Information on Community Property”
561 “Determining the Value of Donated Property”
936 “Home Mortgage Interest Deduction”
These publications are available www.irs.gov or by calling (800) TAX-FORM.
A New York couple paid $150,000 for this 14.9 X 10 micro studio of only 175 square feet on the upper west side at 110th and Amsterdam. They share it with there 2 cats!!!
The co-op is on the 16th floor, but it’s only accessible by a staircase on the 15th floor.
The couple’s friends think they are crazy, but they are thrilled to be home owners.
Well for only an extra half an hour ride on the train they could have brought a spacious home in Center City for the roughly the same price.
This is what $150,000 buys you of Philadelphia Real Estate …
5591238 - 2 Bedroom 1 Bath condo located in HOT Graduate Hospital.
5538753 - Rittenhouse Square co-op studio…. experience Philadelphia’s most prestigious neighborhood in this full service high-rise.
5565753 - Fitler Square brownstone studio… charming neighborhood, a Philadelphia classic.
Took a few weeks off from blogging to travel and then to catch up from traveling. Apparently, Google didn’t like that because it dropped us from the 1st page of the Philadelphia Real Estate search. However, we are still #1 for Center CityReal Estate and I will be blogging diligently to get us back up there. Check it out at www.centercityrealestateblog.com….
The City of Philadelphia will declare a snow emergency at 8 p.m. tonight, officials said.
Our friends at Coldwell banker created this chart, but forgot to include Keller Williams. We know are the new kid on the block, but with more than double the transactions than CB we can’t figure out how they missed us. So we felt compelled to update the chart to include ourselves. 
Treasury yields have declined recently, and mortgage rates generally follow.
Keller Williams Realty joined the ranks of the top franchises in the world last week, when the company was ranked as the No. 1 real estate franchise on the 31st Annual Franchise 500 list by Entrepreneur magazine. During the same week, the company was also voted the Most Recognizable Brand of Real Estate Franchises for 2009 in an industry-wide survey for the Swanepoel TRENDS Report. 
November, 
The IRS allows for many moving related deductions, so check here before you file if you own Philadelphia Real Estate. Click below to find more information about the NEW 2009 Reinvestment Act
