Real Estate News

This section was specifically created by the Center City Team to provide the most up to date real estate news and data pertaining to the Philadelphia community. Find all of the real estate related news impacting Philadelphia and the surrounding suburbs.

We hope you enjoy the information we offer! If we can help you in any way, please speak with one of our talented real estate agents, or directly contact the Center City Team office: 215.440.2093

June 9, 2010

$8,000 Federal Philadelphia Real Estate Tax Credit

Philadelphia Real Estate $8,000 Federal Tax Credit Now In Focus According to Alan Heavens of the Philadelphia Inquirer the full effect of the expired $8,000 first time home buyer tax credit is now in focus. Nationally the Federal $8,000 tax credit helped increase pending home sales for the third consecutive month. Lawrence Yun, chief economist for the National Association of Realtors said […]

June 9, 2010

Philadelphia Real Estate Economy Grew in Q1 2010

Philadelphia Real Estate Philadelphia’s Economy Grew in Q1 2010 According to an article posted on www.Philly.com by Mike Armstrong the Greater Philadelphia Coincident Indicator, created by Select Greater Philadelphia and IHS Global Insight, had fallen every month for 25 months before increasing in March of this year. This increase is certainly positive because apparently “You can think of a coincident indicator as […]

June 9, 2010

Appraisals and Determining Price of Philadlephia Real Estate

I read the Article, “Deciding Home Values Now Tricky” by Al Heavens, Philadelphia Inquirer columnist which can be found here and it really hit home. This issue of appraisals and accurately determining value in Center City Philadelphia has been a hot button issue for the past few months whether you are buying, selling, appraising or a real estate agent. Appraisers were blamed […]

June 9, 2010

Underlying Weakness in Center City Philadelphia Market?

Philadelphia Real Estate Underlying Weakness in Center City Estate Market? According to this MSNBC.com article by Bill Briggs real estate experts see underlying weakness in the housing market. Spurred largely by the $8,000 federal tax credit which expired on April 30th and historically low mortgage rates, sales in March and April were astronomical. Sales of existing homes increased 7% in March and […]

June 9, 2010

Philadelphia Strategic Foreclosure

According to a New York Times article by David Streitfeld some homeowners have stopped paying their mortgage and are using foreclosure strategically to save businesses, enjoy life, vacation or to get out of houses that worth significant less than the amount owed on the property. These homeowners effectuate their own loan modification by ceasing to pay their monthly mortgage and instead save […]

January 1, 2009

$7,500 Federal First Time Home Buyer Tax Credit

Philadelphia Real Estate – $7,500 Federal First Time Home Buyer Tax Credit Here’s a summary of the credit from a Forbes article by Ashlea Ebeling: President George W. Bush signed a massive housing rescue package The new law contains high profile help for home giants Fannie Mae and Freddie Mac for homeowners who took out mortgages they can’t afford and […]