2011

July 9, 2011

Jonathan Miller Predicts Five More Years of High Foreclosure Rates

[youtube]http://www.youtube.com/watch?v=EhgZctkWqw8&feature=player_embedded[/youtube] Check out the video above. Jonathan Miller, consultant, founder of Manhattan real estate appraisal firms Miller Samuel and Miller Cicero recently gave an interview to Bloomberg Law in which he predicted 5 more years of high foreclosure rates nationally. Philadelphia foreclosure rates are still considered to be low in a national context, especially for a large metropolitan area. As Kevin Gillen has […]

July 9, 2011

New Carl Dranoff Development at Intersection of Broad and South

New Carl Dranoff Development at Intersection of Broad and South Just weeks after being named reciever of the Rittenhouse Square luxury condo building 10Rittenhouse NakedPhilly is reporting that developer Carl Dranoff will turn the Garden of the Arts, located on the Northeast corner of Broad Street and South Street, into a six story mixed use property with green space. The development […]

July 8, 2011

The Arrow Strip Club in Northern Liberties?

Seriously…I don’t even know where to start with this one. It wasn’t that long ago when the Arrow Swim Club in Northern Liberties, the adults only pool located a few steps from the Piazza, was the talk of the town. Well lately the Arrow Swim Club has been getting crushed in the press. See here and here, Apparently someone running that think […]

July 5, 2011

Has the Philadelphia Real Estate Market reached bottom?

Has the Philadelphia Real Estate Market reached bottom? Is it safe to buy in Philadelphia? According to a well written and data filled article written by Larry Flick, Chairman and Chief Executive Officer of Prudential Fox & Roach and The Trident Group the answer is yes. Larry’s reasons for reaching this conclusion are that there is a large selection of homes […]

July 3, 2011

Philadelphia Real Estate Market Data May 2011

Philadelphia Real Estate Market Data May 2011 The Philadelphia Real Estate Market Data summary for May 2011 shows that year-over-year from May 2010 through May 2011 shows the following: an increase in inventory a decrease in sales a decrease in median price a decrease in sale price vs. opening price ratio Like most markets Philadelphia County (as a whole) has […]

July 3, 2011

Luxury Condos in Rittenhouse Square Holding Value

Luxury Rittenhouse Condos Holding Value The Wall Street Journal reports that upscale condos in areas like Rittenhouse Square Philadelphia exemplify a trend seen nationally – that condos and homes in the lowest and highest price ranges are selling more redily and holding value better than those in the middle tier. See the chart below. The example referenced in […]

July 2, 2011

Philadelphia Real Estate Sales Rise Strongly In May

Philadelphia Real Estate Sales Rise Strongly In May All regions of the US experienced strong gains in pending home sales from a year ago which is a positive indicator for housing activity in the second half of this year. The Pending Home Sales Index predicts future activity because it is based on contracts signed but not closings which typically follow in 45-60 […]

July 1, 2011

Top Rittenhouse Square Philadelphia Condo and Home Sales June 2011

Philadelphia Real Estate Market Data – Top Rittenhouse Square Condos and Home Sales June 2011 Address Price Bedrooms Neighborhood Type 2027 Spruce St $1,875,000.00 5 Rittenhouse Square Townhome 237-247 S 18th St 9A $1,400,000.00 3 Rittenhouse Square Condo 2212 Pine St $1,001,000.00 5 Rittenhouse Square Townhome 130 S 18th St 1205 $855,000.00 2 Rittenhouse Square Condo 2120 Pine St $745,000.00 […]

June 30, 2011

Philadelphia Real Estate Development Temporarily Closes Dog Park

Philadelphia Real Estate Development Temporarily Closes Dog Park A few different sources are reporting that the 6 million dollar City of Philadelphia project to create a new crosswalk over CSX tracks that separate Center City from the Schuylkill River Banks has been delayed by local dog lovers who feel they weren’t given adequate notice of the closure. Initial work had already […]