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homebuyer: Are Buyers Starting to Re-Emerge? - 09/23/10 12:00 PM
The summer of 2010 will be remembered by folks in the real estate business as a long vacation from serious, qualified buyers. Since the tax-credit deadline of April 30th, the number of active buyers in my market, Philadelphia, has been very slim, and I've heard similar stories from people in other parts of the country. This has been great for the few serious buyers who were looking this summer - they were able to negotiate great deals in a once-in-a-lifetime buyers' market. On the other hand, sellers have been having a very tough go of it the last few months with … (2 comments)

homebuyer: Fannie Mae Offers Closing Cost Assistance - 01/30/10 11:38 AM
Fannie Mae has pulled out all the stops when it comes to selling the properties it ends up with on it's books. Along with the established Homepath mortgage program it is now offering 3.5% of purchase price to home-buyers to help cover closing costs or to purchase new appliances. You can read more about this program by clicking here.
In Philadelphia the selection of Fannie Mae properties is limited (but growing) and is mostly comprised of properties in need of major repairs or renovations - good deals for investors, but not necessarily for owner-occupant buyers. However, if you find a few … (2 comments)

homebuyer: Philadelphia #7 on List of "Smart Buy" Cities - 01/24/10 01:58 PM
According to this article on Realtor.org Philadelphia ranks seventh on a list of cities where it makes sense (financially) to buy instead of rent. The list was compiled by Forbes magazine and looks at ownership costs as compared to rental costs, as well as estimates of housing appreciation over the next five years.
Anecdotally I have to agree that Philadelphia belongs on this list because in many neighborhoods it's possible to buy a home with a mortgage payment equal to about half what the rent would be for a similar property. This is true in my neighborhood in South Philly as … (0 comments)

 
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James Yoakum, SFR

Philadelphia, PA

More about me…

Brown McKinney Real Estate Company

Address: 1733 Spring Garden Street, Philadelphia, PA, 19130

Office Phone: (215) 825-2250 x 1002

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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