Philadelphia Real Estate and Beyond

Philadelphia Real Estate and Beyond

• CalculatedRisk had an interesting article that showed how the housing market is missing the move up buyer – defined in this article as buyers in the $300,000 -$800,000 price range.  Home sales in this price range from June 2010 to June 2011 dripped 25.5% (the most of any price range) largely because the federal  home buyer tax credits ended and thus the number of first time home buyers – the buyers who start the chain reaction – decreased substantially.    This would seem to suggest that a discussion in Washington regarding reinstituting the home buyer tax credits is in order.

• TechnicallyPhilly posted an article that concluded, based on Trulia’s rent or buy interactive map,(which is really addicting to play with) that not only is it more affordable to buy , vs. rent,  in Philly, but also that Philadelphia was the most affordable city to buy a home of the five largest cities in the US and 4^th most affordable of the 20 or so largest cities.

• Not really real estate related but it is related to Philadelphia living so here goes – Foobooz has a great page that ranks the who’s who of Philadelphia bars.  They rank the top 50 Philadelphia bars and there’s even an interactive map!

• CNNMoney has an article that shows how foreclosures have fallen for the 10^th straight month.  To be specific, foreclosure fillings dropped, according to RealtyTrac, in July to their lowest levels since November 2007.  Filings were down 4% when compared to June and down 35% when compared to July 2010!  Most agree that this is largely due to processing delays, foreclosure prevention measures and overall lender reluctance to address their short sales– all of which all delinquent borrowers the opportunity to stay in their homes longer.

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Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog

Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
215.521.1623  Direct
610.636.4364  Cellular
888.308.1148  Fax
[email protected]
www.CenterCityTeam.com