Philadelphia Real Estate Blog

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Learn More About Philadelphia Real Estate and How It Affects Home Values – Part 1

We talk about the suburbs and especially the areas around the Tredyffrin-Easttown School District, it’s our focus and our passion, but everyone should know a little about the city we live so close to and call our “home” when we are away.

Center City Real Estate

This series of articles will detail the nearby region we live in and focus on specific areas for each article. Today we are talking about the city. No not NYC, of course that is “The City”, we are talking about our city and the neighborhoods that make up its core. Philadelphia has diverse neighborhoods that extend from “new, up and coming” to old and established. Not many cities in this country can claim to have original neighborhoods that date to the birth of our country. And without getting into a self-indulging history lesson, we should feel fortunate and should use it to our advantage, when listing the benefits of the region.

We start with the original – Old City. The Philadelphia we know grew up as a river town with major industry centralized around the shipments that would travel up and down the Delaware River. This part of downtown with its cobblestone streets and period architecture is right out of the history books. It mixes old with new when it combines a young nightlife and the more traditional historic buildings, but overall it has a nice balance, albeit a rather pricey area to live. The brief update on this area is that its nightlife and restaurants was ground breaking at one time, but now it is dated and is in need of a revitalization. This does not mean it is run down or un-safe in anyway, it is just not as hip of an area as it once was in the early parts of the new millennium and the late 90’s.

South Philly Real Estate

Next we have: South Philly. What will come to mind first? Cheese Steaks, Sports Complexes, Italian Market? Any of these would be right, but this area is more than that now. It is an affordable area that is close to everything. Trains, I-95 and even walking distance to Center City. It once was very ethnic and working class, but it has evolved into a mix of everyone with plenty of potential for investors and home owners. Our take on South Philly is that it has been slightly overlooked by the last few generations of “new blood” in the city. But with the ever expanding reach of Center City, this area was too prime of a location to be missed anymore. Values are already reflecting this change and it is important to understand that parts of this area are still “block by block” in terms of good short term investments. The wrong move and you could be holding onto something for a long time, while things around you try to catch up. Once you start following these info articles you will have a better understanding of how we view areas like this and how we can help with a potential investment.

Fishtown Real Estate

Finally in this first series, Fishtown. The name alone makes one think? Is this a good name, is it eclectic and hip, or does it have a bad connotation? Well it was once the epi-center for the fish trade in that region. Millions of Shad roamed the Delaware River, were caught by fisherman and processed in this neighborhood which became known as……Fishtown! It was once a few steps away from rough and tough areas of the city and elders might still view it this way, but the new generation sees it as young, hip and urban sheik. The first pioneers in any up and coming area are the art galleries. Fishtown has plenty of those along with restaurants and almost an overabundance of new housing. Location is very good. I-95 is right next door, so is Delaware Ave and minutes to Center City — plus you have a Casino, if that is of interest. One possible concern and when you follow these articles we will talk about it in more depth is that construction boom. It might be getting over built and there could be too much inventory. Stay tuned for more on this topic and more important and relevant info on neighborhoods and areas of our region.

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