Why Invest in Real Estate in Pennsylvania?
Because we’ve been using them successfully with our own Philadelphia real estate investments for years. In short, we put our money where our mouths are. We don’t just talk the talk, though. We walk the walk by combining our experience and understanding of Philadelphia’s architecture, neighborhoods, and real estate law to provide unparalleled property investment advice.
We can also help you throughout the transaction and beyond, provide ongoing property management, and help with things like zoning, Philadelphia use and occupancy taxes, licenses and inspections, and more.
Pennsylvania real estate investors can find real estate clubs in most of the large cities, including Philadelphia, Pittsburgh, Allentown & Erie. These groups can be formal Pennsylvania REIAs and Meetups or might be informal gatherings of BiggerPockets members in the state.
First, the price for real estate investment on the open market has fallen since the recession that started in 2007 and which we have yet to recover from. As with every other thing sold on the open market, the movement in the price of Real Estate Investment is determined by changes in the interaction of demand for real estate and the supply of real estate. Falling demand for real estate prior to and during the recession combined with a glut of Real Estate Investment entering the open market from foreclosures combined to hammer down real estate prices. Since the economic recovery has yet to finish and the housing market remains sluggish, the prices of real estate remain at historic depths at the moment.
However, because the current economic climate is more sluggish than usual, it seems reasonable to conclude that the price of real estate investment will rise again at some time in the future. Based on this assumption, if you buy real estate right now, you are likely to be able to gain in the future from the increase in the value of your real estate on the open market.
Furthermore, the cost of borrowing money is unusually low at the moment due to the recession. Since most of us pay for the purchase of real estate investment using a combination of personal resources and borrowed money, this is a significant factor in the real cost of buying real estate. This is particularly true if you are able to lock in current interest rates for the near future. Although the current economy might make it difficult for you to secure loans from the usual sources, the low prices of real estate on the open market also makes it easy for you to pay a large enough down payment to sway the minds of potential lenders.
Making a real estate investment is most often a tricky business. Among the most crucial factors to consider before realty investment is the location. Growth prospect of an area, availability of land, presence of public amenities, crime rate, etc. are some essential aspects that must be considered while deciding where to invest in real estate.
Often referred as the best place to invest in real estate in the United States, Philadelphia assuredly scores well on all these important factors. United States, with its stabilizing economy is attracting many foreign investors. So, if you too are looking forward to… Read More.
As the third largest city in the state of Pennsylvania, Allentown encompasses 17 square miles of diverse real estate, including manufacturing, industrial, commercial, and mixed-use space. Those interested in Allentown real estate investing can take comfort in the fact that there is plenty of opportunity. However, investors will find that the affordability of distressed single-family homes is where the real spreads are. That said, Allentown real estate investing will remain a lucrative industry for the foreseeable future.
The Allentown housing market currently has a median home price of $176,400; more than $31,000 below the national average ($208,067). The disconnect between home values in Allentown and the rest of the country looks to be growing, as homes are appreciating at a healthy 5.7 percent across the country, but are actually depreciation in Allentown at a rate of -0.2 percent. The difference is even greater over a span of three years, with homes in Allentown only appreciating by 3.1 percent and the rest of the… Read More.
Scranton and Wilkes-Barre are often associated with one another because of their close proximity. Wilkes-Barre is one of the principle cities in Pennsylvania that is comprised of the Scranton/Wilkes Barre/ Hazleton Metropolitan areas. Based on their close relation, the market is often referred to simply as Scranton/Wilkes-Barre. Like most of the rest of the country, the local real estate market was on a steady ascent until the collapse around 2008. Since that time, they have seen extreme volatility in both the number of sales and the average sales price. With increased housing demand and an improving economy, the local real estate market appears to finally be headed on the right track. The Scranton real estate market looks to make steady progress in the… Read More.
Taking care of your property is more than just paying a property manager to watch over it. At Real Property Management our goal is to protect your investment and make you the most money. We use the most accurate data available to determine the best monthly rent rate for your property. We guide you in understanding what improvements should be made to garner higher rent and attract tenants who will take care of your home. We also conduct move in assessments and regular inspections, complete with photos, to make sure your property stays in good shape.
Finally, we save our clients time and money with cost-effective reliable maintenance through in house systems and use of our exclusive preferred vendors. We also know how to proactively manage and respond to tenant requests to save you money long-term… Read More.
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