The housing market is recovering, the housing market is plummeting, depending on the news source…
I say the northeast is a big area and just because it is raining in New York, doesn’t mean it is isn’t sunny in Philadelphia. Plus every neighborhood in Philly, like in most cities are very different. A million dollar house on 18th & Delancey, is hundreds of thousands dollars cheaper a few blocks south on 18th & Christian. Speaking for myself, The Atacan Group has been very, very busy. This week alone we sold 1 property a day, ranging from a $20,000 foreclosure to a $2.3 million dollar investment property.
This article also quotes a local real estate broker stating that the condo market is crashing because financing is so hard to find. It is harder than the bubble haydays, but it is not impossible, especially if you are resourceful. Newsflash, you do not have to go FHA, there are many local banks with great rates that are more than willling to mortgage a downtown condo.
So in my opinion, the bottom line is the Philadelphia Real Estate market, is not as great as its historic high, but it is good and getting better. This is an excellent time to buy and if you are not sure why call anyone of my very busy Realtors at 215-592-9522.
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