First-time condominium buyers are often enthralled by the notion of a high-rise urban living. While it certainly is exciting, never lose your sight on an important aspect of dealing with reputable Philadelphia realtors: the finances. Here are some notes that can help you ensure that your condo remains a great investment:
An article published by the New York Observer details the staying power of luxury rentals despite the slow, yet powerful comeback of the condominium market driven by a new kind of homeowners:
The National Association of Home Builders released an article detailing the continuous rebound of the housing industry:
Until recently, most home buyers thought financing was the only way to afford Philadelphia homes for sale. However, when the risk of a volatile housing market came to light, cash upfront suddenly seemed like the safer bet.
The U.S. ranks third among the best places to live for foreigners, according to a new global study conducted by the Boston Consulting Group. Statistics show that foreigners comprised more than four percent of property searches in the country between April 2012 and March 2013.
Europeans and Canadians still comprise a significant portion of the foreign buyer base, but has declined by four percent from last year. The sharp increase in foreign investment on real estate now comes from Asia and Africa instead. Jed Kolko, Chief Economist of real estate website Trulia, adds input on the resulting figures:
Looking to start over in a new place may not be as easy as finding yourself a good house, settling in and bonding with the neighbors. Mary Umberger of the Inman News shares her take on the matter:
The real-estate market may yield some hope for searchers of top-dollar apartments. According to the Philadelphia Inquirer’s Alan Heavens:
One of the many reasons why up-and-coming young adults and newly married couples wanting to start a family make a big deal out of beautiful Philadelphia condos for sale is because they recognize how the City of Brotherly Love has morphed into a dynamic megacity joining the ranks the likes of Chicago, Los Angeles, and New York—without having to be as unbelievably expensive as those cities.
The latest government shutdown rattled almost every single industry in the country. In a story posted October 1, 2013, Forbes reported on the shutdown's possible effects on a rebounding housing market:
A Bloomberg article dated October 4 details the sudden rise in the number and cost of planned rental units in Brooklyn, New York:
