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June 30, 2009

Philadelphia Real Estate Buyers 2009

Filed under: Center City Real Estate,Of Interest to Buyers,Of Interest To Sellers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 3:45 pm

…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
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106

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1 Comment »

  1. Philadelphia condominiums now offer the convenience and luxury of living close to work and play without having a long commute. By opting to stay in a condominium, a person can make many savings. Living in the urban center of Philadelphia places you in the middle of it all. Because of the demand for more and more Philadelphia condominiums, several new condominium developments and condominium conversions continue to develop throughout the city of Philadelphia.

    Urban Philadelphians have the distinct advantage for always living right where the action is. When you live in a Philadelphia condominium, you are close to everything in this historically rich and booming metropolis. These days’ people do not want to waste time in long commute to work since the gas prices are on a rise most prefer to save by opting to stay close to the work place. As the largest city in the state of Pennsylvania, Philadelphia is the sixth most populated city in the United States. Nicknamed the “City of Brotherly Love”, Philadelphia metropolitan area consists of an estimated 5.8 million people. Since there are new job options opening for people in Philadelphia, naturally more and more people are shifting there to make Philadelphia their home.

    Comment by Philadelphia Condos for Sale — July 3, 2009 @ 2:52 am

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