Archive for December, 2009
Philly’s Hottest Real Estate Zip Codes
US real estate prices have fallen dramatically over the past year, but it looks like Philadelphia real estate has managed to buck the trend. A new report, recently released by Zillow, highlights places that had the biggest year-over-year price increases during the third quarter.
Philadelphia had 3 of the country’s best performing zip codes.
#14: 19104 with Year-over-Year Price Growth of 13.5%
#3: 19148 Year-over-Year Price Growth: 16.9%
and drumroll please…
# 2: 19145 Year-over-Year Price Growth: 19.1%
Related Posts:
Passyunk Square: It’s Not Always A Buyer’s Market. If a House is Hot, Bid Quickly
Technorati: philadelphia homes for sale, newbold, passyunk square, south philly, affordable homes
posted by janice SEARCH the Philadelphia MLS. No Registration Required!
How is the Philly Housing Market Doing so Far this Year?
Philadelphia Housing Recovery Sputters in Q3.
Mixed news on sales, prices.
The most recent home sales figures suggest a slowing in the momentum of the housing market’s attempt to recover from its current slump.
Following the first quarterly increase in citywide house prices after two years of falling prices, the typical Philadelphia home rose in value by a scant 0.2% on a quality—and seasonally—adjusted basis this past summer, according to the latest analysis by Econsult economist Kevin Gillen{pdf}. Following on the heels of a robust increase of 6.8% this past spring, Philadelphia house values seem to still be struggling to regain the value they lost over the past two years. With these losses in value netted against these two recent increases, the typical Philadelphia home has lost 8% of its value since the bursting of the national housing bubble over two years ago.
Download the report and Kevin’s commentary.
Price changes across the city’s neighborhoods were mixed, with increases in some neighborhoods being offset by decreases in others:
South Philadelphia +7.0%
West Philadelphia +6.4%
University City +2.6%
Center City/Fairmount +0.7%
Lower Northeast Philadelphia +0.2%
Northwest Philadelphia -4.4%
Kensington/Frankford -2.1%
Upper Northeast Philadelphia -0.7%
North Philadelphia -0.4%
Philadelphia remains in far better shape than most other major U.S. cities. According to Case-Shiller MacroMarkets’ composite house price index, house prices have fallen by an average of 32% in the ten largest U.S. cities since the bursting of the housing bubble, compared to only 8% in Philadelphia. Of the twenty largest cities in the U.S., all but one (Dallas) have experienced more severe house price declines than Philadelphia. And, according to the research firm IHS Global Insight, the typical Philadelphia home is now considered to be under-priced by 2%.
Also See: Philadelphia Housing Considered Under-Value 1st Time Since 2003
HAVE HOT NEW LISTING DELIVERED FRESH TO YOUR INBOX
Technorati: housing market, philly housing, buyers market, appreciation by neighborhood
posted by janice SEARCH the Philadelphia MLS. No Registration Required!
How to Buy a Bank Owned Home in Philly
Frequently we get buyers that want to find a super deal and buy a bank owned property.
Lately we have noticed a trend:
Priced below market value (asking we didn’t sell selling)
Priced above market value
Multiple offers within hours of being placed on the market
Bidding wars are erupting
Listening to all the media hype naive Buyers (not our Buyers of course) are over paying for crappy as-is property in their attempt to get a deal
Even our seasoned investors have all but given up on bank owned properties in favor of the good buys that are out there. So when we saw this video by San Diego Home Blog we laughed our butts off and had to share it with you.
Technorati: bank owned homes, reo, short sales, philly homes for sale
posted by janice SEARCH the Philadelphia MLS. No Registration Required!
Go Green, Greener, Greenest with the Queen Village Neighborhood Association
Yes – I am now a tree nerd. An authentic Tree Tender who has learned how to plant trees in my neighborhood and keep them alive.
You should try it. It’s fun getting involved, and it feels good to work with others to keep your community green & healthy.
My adventure started with an hour-long workshop to learn some of the basics. Roots down. Branches up. That sort of thing. Then we got to work. Everybody showed up at Weccacoe Playground with brooms, shovels and gardening gloves. We carried young trees to 4th Street. We dug, we planted, we mulched, we watered, we swept, we got dirty and we had fun. A lot of fun! And at the end of the day I stood at the corner of 4th & Christian and looked down the block at the work we all did. And I was proud. I saw how ten new trees could bring a street to life.
Your neighborhood can use your help. You don’t need a green thumb and the workout is better than the gym. For more information visit Queen Village Neighborhood Association Tree Tenders.
HAVE HOT NEW LISTING DELIVERED FRESH TO YOUR INBOX
Technorati: queen village, green neighborhoods in philly, philly tree tenders
posted by carolyn REALTOR, Ecosociate™by Ecobroker International SEARCH the Philadelphia MLS
