Im interested in other people's market and how they have change

Philadelphia, Pennsylvania
Market Trends & Data
3yFollow

Im interested in other people's market and how they have change

Stephen Rinaldi
Lender · Media PA · Member since 2023 · 44 posts · 87 votes

I own a mortgage broker shop, Rinaldi Group LLC. We are big in PA, but also do substantial business in DE, NJ and have started gaining traction in MD and FL. Its amazing to be the wide range of markets I see, for example in the suburbs of PA you will need to name your first born child after the seller to get an agreement of sale, also in most parts of DE, but in some part of Philly and NJ houses are sitting making the market more buyer friendly. Im just curious about where other people live and work to see if there has been a drastic change over the last 6-12 months or if rates being higher has changed anything in terms buyers leverage.

Please comment the area you are speak on and what type of market you seeing

Thanks you in advance!!

1Reply
43 views

Most Popular Reply

Dmitri L.
Investor · DFW, TX · Member since 2013 · 319 posts · 101 votes
3y
Quote from @Alan Asriants:

Completely agree with you about the Philly/PA market. COVID created a donut effect. Downtown prices have barely shifted and maybe even dipped during 2020-2023 while the suburbs, NE philly, roxborough have skyrocketed and are still climbing.


Do you happen to have any insight into the north east PA market? Allentown and surroundings? Seems the population has been growing consistently over the last decade, and I like what I've seen so far from a few brief visits.

Interesting point about the donut effect, thanks!

1Reply
See this reply in the discussion

11 Replies

Jump to latestLatest
  • Pat Hamilton
    Member since 2020 · 74 posts · 19 votes
    3y

    I own a 3 family home in West Philadelphia that I've been trying to sell.  Lately (past few weeks) there has been more interest, but it's been dismal to say the least.

    0Reply
  • Stephen Rinaldi
    OP
    Lender · Media PA · Member since 2023 · 44 posts · 87 votes
    3y

    Thats been what Im seeing the that area too

    0Reply
  • Dmitri L.
    Investor · DFW, TX · Member since 2013 · 319 posts · 101 votes
    3y
    Quote from @Stephen Rinaldi:

    I own a mortgage broker shop, Rinaldi Group LLC. We are big in PA, but also do substantial business in DE, NJ and have started gaining traction in MD and FL. Its amazing to be the wide range of markets I see, for example in the suburbs of PA you will need to name your first born child after the seller to get an agreement of sale, also in most parts of DE, but in some part of Philly and NJ houses are sitting making the market more buyer friendly. Im just curious about where other people live and work to see if there has been a drastic change over the last 6-12 months or if rates being higher has changed anything in terms buyers leverage.

    Please comment the area you are speak on and what type of market you seeing

    Thanks you in advance!!


    Hi Stephen! 

    I live in north NJ and have property in DFW TX. Both markets are way overpriced for new rentals.

    I hear there's a lot of industrial/logistics type of development happening along the 222/78/81/83 corridor in PA. Would you agree with that statement? Good macro trends going forward?

    Trying to learn more about the PA market and see if I can focus on that for future rentals ;)

    Dmitri

    0Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y

    bay area back to the seller market starting from January. House is gone for a week now, even for flip destroyed house.

    0Reply
  • Alan AsriantsBusiness Member
    Real Estate Agent · Philadelphia, PA · Member since 2019 · 1k+ posts · 1k+ votes
    3y

    Completely agree with you about the Philly/PA market. COVID created a donut effect. Downtown prices have barely shifted and maybe even dipped during 2020-2023 while the suburbs, NE philly, roxborough have skyrocketed and are still climbing.

    [email protected]267-767-0111
    Alan Asriants - New Century Real Estate 592 Reviews
    View Page
    0Reply
  • Stephen Rinaldi
    OP
    Lender · Media PA · Member since 2023 · 44 posts · 87 votes
    3y

    I would, if I had to guess in 10 years the suburban PA area is going to be priced closer to comps in the suburbs of DC/Boston/NY than where we are now.  Alot of industry and greate schools are driving people to the area.. southern NJ too

    1Reply
  • Dmitri L.
    Investor · DFW, TX · Member since 2013 · 319 posts · 101 votes
    3y
    Quote from @Alan Asriants:

    Completely agree with you about the Philly/PA market. COVID created a donut effect. Downtown prices have barely shifted and maybe even dipped during 2020-2023 while the suburbs, NE philly, roxborough have skyrocketed and are still climbing.


    Do you happen to have any insight into the north east PA market? Allentown and surroundings? Seems the population has been growing consistently over the last decade, and I like what I've seen so far from a few brief visits.

    Interesting point about the donut effect, thanks!

    1Reply
  • Alan AsriantsBusiness Member
    Real Estate Agent · Philadelphia, PA · Member since 2019 · 1k+ posts · 1k+ votes
    3y

    Those markets have definitely seen some growth in that past years as more people moved out of the city and were looking for alternatives cheaper than the outskirts of Philly. I think you will find decent schools there, steady tenants, and appreciation long term. Each areas has its ups and downs so I recommend driving around to see what part of that market you are interested in. I believe there is a good amount of newer townhomes and such being built there. 

    [email protected]267-767-0111
    Alan Asriants - New Century Real Estate 592 Reviews
    View Page
    1Reply
  • Dmitri L.
    Investor · DFW, TX · Member since 2013 · 319 posts · 101 votes
    3y
    Quote from @Alan Asriants:

    Those markets have definitely seen some growth in that past years as more people moved out of the city and were looking for alternatives cheaper than the outskirts of Philly. I think you will find decent schools there, steady tenants, and appreciation long term. Each areas has its ups and downs so I recommend driving around to see what part of that market you are interested in. I believe there is a good amount of newer townhomes and such being built there. 


    Thank you for the feedback! Yep definitely a lot of leg work needed, but it's good to know I'm not on an obviously-wrong track.

    Looks like a few members on here are active in the area and there are some BP/REI meetups, too.

    1Reply
  • Alan AsriantsBusiness Member
    Real Estate Agent · Philadelphia, PA · Member since 2019 · 1k+ posts · 1k+ votes
    3y
    Quote from @Dmitri L.:
    Quote from @Alan Asriants:

    Those markets have definitely seen some growth in that past years as more people moved out of the city and were looking for alternatives cheaper than the outskirts of Philly. I think you will find decent schools there, steady tenants, and appreciation long term. Each areas has its ups and downs so I recommend driving around to see what part of that market you are interested in. I believe there is a good amount of newer townhomes and such being built there. 


    Thank you for the feedback! Yep definitely a lot of leg work needed, but it's good to know I'm not on an obviously-wrong track.

    Looks like a few members on here are active in the area and there are some BP/REI meetups, too.


     Let me know where the meetings area and when, I will try to come out!

    [email protected]267-767-0111
    Alan Asriants - New Century Real Estate 592 Reviews
    View Page
    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free