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October 2, 2008

Suburbs Turning into Slums? Center City Condos Thriving?

Filed under: Center City Real Estate,General Real Estate,Of Interest to Buyers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 11:30 am

Untidy vacant homes? Crime? Social Disorder? Here in the City? Guess again.

With the subprime crisis unfolding across America, more and more homeowners in the Suburbs are facing foreclosure and they are having a difficult time finding buyers who are interested in purchasing their homes that sit on oversized lawns that will need mowing on Saturday morning after a 75 hour work week. Today, most buyers in our market are young professionals who work long hours and who may be interested in eventually starting a family if they haven’t already. This doesn’t leave them with much time left over for things like lawnmowing or cleaning gutters. There has been a major shift in the way folks want to live and work today compared to 30 years ago in more ways than one.

Here is an informative, well-written article, The Next Slum? written by Christopher B. Lineberger, that I came across that talks about how Houses in the Suburbs are sitting vacant or on the market longer and longer. Overgrown lawns and untended homes are sprinkled heavily throughout these neighborhoods that many once thought were much more desirable than our urban setting. Unfortunately this is leading to in influx of problems, such as unlawful homeless tenants or even unruly renters that no one wants as  neighbors. 

On the same note, cities, especially Center City Philadelphia, have become more desireable to today’s professional buyers. We are seeing more and more new construction around town and more and more folks are leaving their lawnmowers behind and joining us in our culturally exciting way of life. From being able to walk to work or to your favorite restaurant to having your own doorman in a pet-friendly, “green” condo building, Center City Condo living is thriving!

If you are interested in taking a look at some condominiums here in town, give us a call at 215.440.2388 or click this link to Meet Our Team!

Nicole Noguer
Licensed Office Assistant to Mark Wade
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

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1 Comment »

  1. […] Original post by Philadelphia Real Estate Blog – Center City Real Estate […]

    Pingback by Suburbs Turning into Slums? Center City Condos Thriving? · Invest-In-Real-Estate.ExplainedOnline.Net — October 2, 2008 @ 12:53 pm

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