Reported by Loretta C. Witt, REALTOR, CRS, GRI, Associate Broker
Updated June 23, 2008.
Current Market Rating: 3
1
2
3
4
5
Buyer's
Seller's
Current Price Trend: 3
1
2
3
4
5
Falling
Rising
In the last two to three years, there have been very few homes on the market at any one time in East Falls. Values stay strong. Although, as in all other communities, properties are on average on the market longer, East Falls real estate benefits from public demand. The East Falls market, as the entire Philadelphia market, moves forward. Only national forces prompted by last summer's subprime mortgage debacle could slow its progress in the future. Buyers are advised to be sure they are working with a lender with sound financial footing. A factor to consider as we move into June is the slight rise in mortgage rates. In May, it was fairly easy to find 5.875% or 6% for a 30 year fixed rate mortgage with 0points. By mid-June, rates were hovering around 6.5% or 6.75%. Let's see what happens.
ZIP Code: 19129 Location Characteristics: East Falls is a community that since the 17th century as been influenced by its location nestled against the Schuylkill River. Once a tiny fishing village, East Falls is today a thriving residential community whose residents value all the neighborhood parks and trees together with the short ten-minute commute by car to Center City. It is the place of residence of Pennsylvania's governor and one of its United States Senators. It is home to numerous municipal administrators. And it is in the midst of a campaign to revitalize its small commercial district surrounding Rideg Avenue and Midvale Avenue. Recently, East Falls has opened a large fitness center and a well-received Farmers' Market along Ridge Avenue.
About Loretta C. Witt:
I welcome your calls and questions about selling and buying real estate. For 24 years, I have been a top agent in my company. Sellers who list with me and with Prudential Fox & Roach receive expert advice on understanding the marketplace, careful advice on setting the right asking price, a free service to handle utility connections, a free guided tour posted on the internet, and a presence on leading real estate web sites. Buyers have the opportunity for complete buyer representation. As the leader of the Witt-Lippincott Team with two experienced Buyer's Agents, Bill Shelton and Lori Lorenz, I can guarantee extraordinary focused attention in the search for your new home. Both sellers and buyers receive the finest detailed and professional real estate services available in the marketplace. Check into my web site and call me for details. I look forward to hearing from you.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
