National Realty Investment Advisors LLC - Property Market In

Philadelphia
According to National Realty Investor Advisors, the history of
Philadelphias property market sounds a lot like that of many cities in
the U.S. Uran flight, economic prolems, and the mortgage crisis
have prompted a dire need for uran revitali!ation efforts. "ut across
uran centers, property investors are ans#ering that call.
$he virant uran core that flourished in Philadelphia earlier in the
%&
th
century egan to die out in the latter half as residents fled for the
suurs. "y the '((&s, hundreds of people #ere fleeing the city
every month, driven y lack of )os, economic #oes, and poor
financial prospects. $he trend #as consistent across the U.S. *hen
the housing crisis of the %&&&s slammed U.S. cities like Philadelphia,
many homes #ere foreclosed and some neighorhoods disintegrated.
"ut Philadelphias uni+ue ta, reaks led to a residential oom. "y
aating all ta,es for offices and hotels converted into condos, the city
fostered residential e,pansion. *hen the aatement e,tended to ne#
commercial and home construction, opportunities e,ploded.As of
%&'&, the city had nearly -,&&& separate housing units under
aatement, including .'/ million penthouse condos, ./&&,&&& lu,ury
condos, and all styles of condos and single0family homes, according
to 1etro 2acksonville.
Since the housing crisis, many investors have een hesitant to take the
plunge into property investment. *hile every investment affords its
o#n risks, investment professionals at National Realty Investment
Advisors suggest that no# is a promising time to reenter the market
and Philadelphia is uni+uely advantageous for such prospects.
Indeed, the rental market is huge right no#. According to 3ensus
"ureau records, the rate of home o#nership rates in the U.S. fell to
4/.- percent in %&'%, #hich is the lo#est its een since '((4. "ut
rental rates are up and interest rates are do#n, so theres lots of
potential for landlords.

$he 1otovo Real 5state log reports that lo# mortgage rates and
steady prices make it a promising uyers market in Philadelphia,
ased on its %&'6 analysis. It found that the median price of property,
#hich #as .''' per s+uare foot, is up si, percent from last month and
has remained roughly steady since one year ago. 7verall, housing
prices are recovering the most in affluent neighorhoods, so e,perts
suggest that investors focus their dollars there.
"ooming tech centers like Philadelphia are some of the hottest
markets in real estate. $hanks to s#elling )o gro#th and resurging
city centers, demand for real estate is strong. Philadelphia has
numerous universities and oasts a large population of young and
creative talent, so many start0ups and tech corporations have set up
shop and flourished there.
Investing in areas of strong )o gro#th is a #ise and valuale path to
take. In Philadelphia, unemployment is relatively lo# and #as listed
at aout 4.4 percent in 2anuary %&'-.
8urthermore, mortgage rates are e,ceptionally lo# at this moment, at
aout -.- percent, so properties are selling +uickly and its important
to )ump into the market efore the most lucrative investments are
gone.
$he market is also particularly favorale to rental properties.
Apartment vacancies are at their lo#est in over ten years, at )ust -.'
percent, and rental rates are only e,pected to rise. 1ean#hile, the )o
market has improved steadily since %&&(, and that trend is e,pected to
continue. All in all, things are looking favorale for rental property
investors.
$he real estate market hasnt al#ays een lucrative, ut investors can
find promising opportunities if they look in the right places. $hanks
to urgeoning )o gro#th and favorale development conditions,
National Realty Investment Advisors contend that Philadelphia is ripe
#ith prospects.