Buying a Philadelphia Condominiums
Condominiums today are highly desirable by home buyers. It offers convenience as well as comfort and spacious living. Currently it is buyers market since the highs of the mid 2007. With the economy in steep recession and financial meltdown, the prices of Philadelphia condominiums have become more affordable even the luxurious condos.
With many amenities and customization condos offer a living space for single family home or as place for retirees to live. In Philadelphia, "the city of brotherly love", it offers many attractions and modern living in the heart of a urban city.
As you know Philadelphia is home to many past rich American History, it is the birthplace of American Democracy and was home to many famous American. In the last year or so Philadelphia condominiums market has seen over supply of inventories, still the market seem to continue to function as buyers and sellers on making deals and condos are changing hands.
With current drop in prices of Philadelphia condominiums, many developers are offering upgrades and other incentives to move unsold condos. In the short term, market seems to be in roller coaster ride, but in long term, the market looks pretty good for those who have long term horizon. But be sure this buyers market won't last as the economy rebounds in coming years.
One of the areas like Rittenhouse Square and couple of blocks from it have seen there prices hold value even though rest of the region seems to be declining in price. Prices in other areas are down anywhere from 10 to 20 percent. With over supply, first time buyers should have a favorable conditions, $7,500 tax credits and low interest rates will also help new buyers.
One of the areas showing a tight market is luxurious condos, where there is not enough of the to go around. The market will rebound perhaps in late 2009 or early 2010, especially during the spring months when people begin to look for new housing or to move.
With many amenities and customization condos offer a living space for single family home or as place for retirees to live. In Philadelphia, "the city of brotherly love", it offers many attractions and modern living in the heart of a urban city.
As you know Philadelphia is home to many past rich American History, it is the birthplace of American Democracy and was home to many famous American. In the last year or so Philadelphia condominiums market has seen over supply of inventories, still the market seem to continue to function as buyers and sellers on making deals and condos are changing hands.
With current drop in prices of Philadelphia condominiums, many developers are offering upgrades and other incentives to move unsold condos. In the short term, market seems to be in roller coaster ride, but in long term, the market looks pretty good for those who have long term horizon. But be sure this buyers market won't last as the economy rebounds in coming years.
One of the areas like Rittenhouse Square and couple of blocks from it have seen there prices hold value even though rest of the region seems to be declining in price. Prices in other areas are down anywhere from 10 to 20 percent. With over supply, first time buyers should have a favorable conditions, $7,500 tax credits and low interest rates will also help new buyers.
One of the areas showing a tight market is luxurious condos, where there is not enough of the to go around. The market will rebound perhaps in late 2009 or early 2010, especially during the spring months when people begin to look for new housing or to move.
About the Author:
If your thinking about buying Philadelphia condominiums, please review Philadelphia Condominiums, and Philadelphia Condominiums
posted by Credit Counseling at
6:38 AM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home