Philly Real Estate Prices Holding Better than Most Cities in the Nation

Alan J. Heavens reported in the Philadelphia Inquirer yesterday that Philadelphia is on a lis of seven (7) cities prime for a residential real estate rebound, along with Denver; Seattle; Raleigh, N.C.; Salt Lake City; Des Moines, Iowa; and Birmingham, Ala. The full article is here
Zillow.com's chief economist, Stan Humphries, said Nov. 13 that "it seems that Philadelphia may escape the worst of the housing-market woes affecting much of the rest of the country."
Foreclosure rates here remain well below those of other regions. Though I won't minimize the misery of people facing the loss of their homes in this area, it could be a lot worse - instead of one filing for every 2,500 houses in Chester County, it could be one in every 62, as it is in Vegas.
Let me emphasize that most mortgage loans today are not in default; it's just that the focus is on those that are.

Philadelphia Broker Announces $1,000 cash buyer incentive!!

In an unprecedented move, Philadelphia area Realtor, Prudential Fox and Roach announces an incentive program for buyers. It will be unveiled Sunday, November 9th at their multi-county OPEN HOUSE EXTRAVAGANZA. On that Sunday, a very large number of property listings by the firm will be OPEN HOUSE to the public. Potential buyers will sign in to register on special forms. If a buyer purchases any of these listings (or any Prudential Fox and Roach listing), obtains their mortgage through Trident Mortgage (this is the in-house mortgage company owned by Prudential Fox and Roach), and settles before the end of March in 2009, they will receive a $1,000 cash credit at time of settlement to be applied to their total closing costs and down payment!!
This program is expected to increase exposure for all sellers who have their properties listed with this firm (the largest in the Delaware Valley and 4th largest in the United States). The program is being offered at no additional expense to the property owners.
There is plenty of financing available for qualified buyers and over 100 different mortgage products including FHA, VA, as well as conventional and non-conforming loans.
For more information or details, contact Marlene Goldberg at 215-517-6362. If a potential home seller is ready to list their property - it is not too late to get involved in this excellent program.