Mortgage Rates at Their Lowest Point of 2010, Great Time to Buy! - 05/21/10 02:59 PM
According to this article mortgage rates are at their lowest point so far in 2010 with a national average rate of 4.84% for 30 year fixed loans and an amazing 4.24% average on 15 year loans. One local lender here in Philly is even offering 30 year fixed-rate FHA loans at 4.25% for buyers with qualifying income (under about $60,000 per year). With rates like these it's a great time to buy a house and lock in a low monthly payment for years to come.
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As Gas Prices Rise Location Becomes Even More Important to Real Estate - 05/20/10 03:44 PM
Everyone knows that the three most important things in real estate are location, location, and location. Well I have just decided that the fourth most important thing in real estate is...you guessed it, LOCATION! Why do I think that location is even more important now than ever? Because gas prices have just topped $3.00/gallon again here in Philadelphia, and I wish that my home, office, grocery store, favorite restaurant, etc. were all located even closer to each other so I could spend less money on gas and less time in transit between one place and the next.
Not that I can … (0 comments)

States Picking Up Where Federal Tax Credit Left Off - 05/17/10 03:13 PM
With the expiration of the $8,000 federal tax credit for first time (and some repeat) homebuyers, a few states are trying to enact similar programs on the state level to continue boosting their local real estate markets. First California set aside $200 million for first-time and repeat homebuyer tax credits. I thought California was broke, but I guess if the measure gets the housing industry back on track it could go a long way in stimulating the Golden State's economy.
Now New Jersey is considering a tax credit of up to $15,000 for homebuyers who buy in 2010. With a total … (2 comments)

In Great Company - 05/07/10 07:57 AM
If you ask real estate professionals or urban-studies nerds to name some of the most dynamic and successful big cities in America you'll find that Philadelphia is often low on the list. However, in one respect Philadelphia has joined ranks with three cities that are always near the top. According to this article from the Philadelphia Business Journal Philadelphia has just joined Boston, San Francisco, and Washington D.C. as the only cities out of America's twelve largest with an industry other than "trade, transportation and utilities" as the largest source of employment. In Philadelphia the education and health services industry, often … (3 comments)

Philly Condo Prices Starting to Make Investment Sense - 05/06/10 06:39 PM
The title of this blog says it all. I'm finally starting to see condo prices in some Philadelphia condo buildings that make sense as buy-and-hold investment opportunities. Typically the business model of buying a condo unit and renting it out for cash-flow has been a long-shot in Philly. This is largely due to condo fees that cost you more than the amenities they pay for generate in rental premiums. However, the condo market seems to be lagging the rest of the market in terms of pricing recovery, and since there is still a glut of condos on the market it may … (0 comments)

Video Tour of 151 W. Seymour St., Philadelphia, PA - 05/04/10 11:12 AM
Click here to see a video tour of my listing at 151 W. Seymour St. It's a great house for a first-time buyer who needs a lot of space or for a large family looking for a low-maintenance, beautifully renovated home in Germantown.
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James Yoakum, SFR (US Spaces, Inc.)

James Yoakum, SFR

Philadelphia, PA

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US Spaces, Inc.

Address: 2043 Locust Street, Philadelphia, PA, 19103

Office Phone: (215) 829-8850

Cell Phone: (267) 496-7739

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Observations from my work in the wide world of real estate with a frequent focus on the Philadelphia market.


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