Philadelphia Real Estate Buyers 2009
…can best be described as thorough.
It is no secret I love showing and selling Philadelphia real estate. The hallmark of the 2009 Philadelphia buyer is one of complete and utter thoroughness.
Though they are buying, and doing in fairly good numbers, there is no sense of urgency, and they want to see everything. Everything. If I had a dollar for every property I showed in the spring of 2009, I would go buy a new Lexus. Or perhaps take a cruise and drink a lot.
Such behavior is actually a good thing for an old timer like myself. I get to see sooo many places, that it really does add to my already stuffed brain. I know the size of the kitchen in unit 1902 at the xxx building. I am familiar with the condition of the 2nd Floor Front condo at 19xx Spruce St., and I see for myself why the condos at XXX and Bainbridge aren’t selling so well.
The equation here is a simple one:
Buyer Market- no sense of urgency- they can look at 18 other places, and come back to this particular unit they liked
Sellers Market- Hurry and buy. If you don’t, the unit you loved may be gone. Perhaps it already is gone.
The Philadelphia housing market is in a bit of a buyers market in 2009. I will let you know when that equation changes.
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106
