July 28, 2011

Office Leasing Strong In Spite of Economic Uncertainty

CoStar reports that office leasing nationally remains strong in the 2nd quarer of 2011 despite economic uncertainty tied to unemployment, the debt ceiling debacle and European economic meltdowns. Business are continuing to add workers and lease larger and better commercial spaces because of prices that were unavailable in recent years and landlords willing to make concessions.  The report shows that asking rents are 10% […]
July 28, 2011

Philadelphia Real Estate Market Outperforming National Market

Philadelphia Real Estate Market Outperforming National Market Prudential’s Chairman and CEO Larry Flick recently wrote a letter to the editor of the Philadelphia Inquirer in response to Cynthia Burton’s article, “A Window into the Housing Crisis”.  The crux of the article was that in reality, our regional outlook remains positive and the Philadelphia real estate market continues to outperform the national market on a […]
July 28, 2011

Philadelphia Real Estate One Liners July 28, 2011

Philadelphia Real Estate One Liners July 28, 2011 National Association of Realtors reports an increase in cancellations of pending home sale contracts.  The normal rate is 4% and currently there is a 16% rate of cancellation.  (CNBC Realty Check) Case-Shiller reported May home price declines in both its 10 (3.6%) and 20 (4.5%) city index.  Home prices however increased slightly […]
July 27, 2011

Philadelphia Real Estate Market Data June Fall Through Chart

Philadelphia Real Estate Market Data – YTD Fall Through Chart. Here’s a summary of why Philadelphia real estate transactions are not proceeding to settlement.  All data compiled and provided compliments of Prudential Fox & Roach, Realtors. 38% of all contract cancellations occur as a result of the buyer’s inspection  22% of all contract cancellations occur because the buyer terminated for […]
July 26, 2011

Case-Shiller Shows Home Price Increase in May

Case-Shiller Shows Home Price Increase in May.     Calculatedrisk.com is reporting that Case-Shiller released the monthly Home Price Indices for May and they show an increase in home prices.  This represents  a second consecutive month of increase in prices for the 10- and 20-City Composites. The 10- and 20-City Composites were up 1.1% and 1.0%, respectively, in May over April. […]
July 26, 2011

Philadelphia Waterfront Real Estate Finally Getting a Facelift

Philadelphia Waterfront Real Estate Finally Getting a Facelift.   According to PlanPhilly.com, a complete draft of the Central Delaware Waterfront Master Plan has been published and can be found here.  The Delaware River Waterfront Corporation is the quasi-city agency that manages the city’s property along the river and the long-term planning for the entire Central Delaware, from Oregon to Allegheny avenues. […]
July 26, 2011

New Philadelphia Senior Housing Coming to Italian Market Area

New Philadelphia Senior Housing Coming to Italian Market Area. NakedPhilly.com has an article discussing how councilman Frank DiCiccio has proposed the building of a 64 unit apartment that will provide affordable senior housing on a city owned lot at 921-927 Ellsworth Street.   The entire parcel is 22,000 square feet and will include 25 parking spots.  The builder is BCM […]
July 25, 2011

University of Pennsylvania Real Estate Development Progressing Nicely

University of Pennsylvania Real Estate Development Progressing Nicely. In Philadelphia development news, Penn Park, the new urban park east of the Highline and stretching from Walnut Street to South Street features featuring a fabric of tightly interwoven recreation and athletic components is coming along nicely.  This is great news for a number of reasons. First, Penn and Drexel’s long term […]
July 25, 2011

Kevin Gillen Philadelphia Real Estate Q2 2011 Commentary

Kevin Gillen Philadelphia Real Estate Q2 2011 Commentary Philadelphia’s House Prices Hit the Brakes This Spring. House prices effectively unchanged in 2011 Q2.   July 25, 2011: It may not be often that flat house prices may be greeted as good news, but after several years of declining prices and falling sales, the definition of “good news” for housing has […]
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