Profile picture for weaver727

Looking to buy in SE Pennsylvania

I am finding it pretty unaffordable. In the area I am looking, I can't get into anything decent for less than about 165k. I am talking condos here, or "low rent" type townhouses. I am starting to see a few reductions here and there....however I think this area has seen less of a drop, and our bubble was later. Anyone else looking in this area? thoughts?
  • October 03 2007 - US
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (43)

Profile picture for Mike2020
SE PA prices have gone sky-high.. WHILE being a Top 5 Homicide area..

Now that prices are falling.. More Crime.. Why would you reward a top 5 homicide area by bidding higher for homes in that area.. (Bubble alert)..

Prices will decline.. and people who couldn't afford home will go back into the ghettos.. while those who were smart and got out in 2005 will return to their suburban paradises in a couple years....
  • October 05 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Bill432
To respond briefly actually prices doubled in this area over the past ten years.
Case and point. My brother bought a house ten years ago for 83k it is now about 190k. Now you gotta ask well what exactly happened, the interest rates dropped big time since then from 11 percent down to as low as 4.5 percent. Me I bought my first house 18 years ago at 11.75 percent. Now I don't think we will readily see double digit interest anytime soon. Everything is slow for what I call for a lack of a better term "market correction". Sure prices have dropped and will continue into next year. But now that the banks as well as the fed taking action, this will tend to level the playing field once again. The tightening of lending rules will solidify the market on a better footing. It's just to bad for the guys who over extended themselves in a once over priced market. What this means is those who are over extended gotta get out at whatever cost, but this is real estate and the bulk of the players are in it for the long haul.
  • October 05 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for 2 Big 2 Fail
Whatever you say Mike. Have you ever been to Pennsylvania? Many parts consist of nothing but farms. No ghettos there. I know someone who lives in PA and he gave me some corn that he grows on his property. Have you ever been to the Amish Country? Very beautiful place. Nobody gets mugged there.
  • October 06 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for BayWind
Weav
I am a homeowner (have been for 20+ years), and have lived in Eastern PA my whole life. Prices aren't coming down too much here because it is such an affordable place to live, and we were very undervalued. Keep in mind that varies from county to county. Lancaster/York counties are close to Philly and to Baltimore. Great place to live, good schools and low taxes. I am between Philly and Harrisburg and we are getting tons of NYC people moving in still.
All that being said, we starting to drop too, Mike gives you good advice.

Alpine is a troll, tune him out, he brings nothing to the discussion.
  • October 07 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for 2 Big 2 Fail
Yes, Mike gives you good advice that he has never successfully applied in the real world. You want fantasies, listen to Mike. You want battle tested advice, listen to me.
  • October 07 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for weaver727
Alpine there is definitely ghetto in philly....and allentown...generally not in the suburbs, although there are exceptions here and there. It's not all farmland. Don't you live in NY? They have farmland in that state as well, and NJ.
  • October 07 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for 2 Big 2 Fail
I live in New Jersey.
  • October 07 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for weaver727
There are farms in New Jersey also.
  • October 10 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Mike2020
Philly has one of the highest crime rates in the country.. NJ is connected to philly.

West Philadelphia had the MOST killing last year.

and Alpine lives in New Jersey because he can't afford New York..

He got a lower end house in Overvalued Alpine to try to fit in.. Yet he only spends his days trolling around trying to sell his property that is worth at max 400K..
  • October 10 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for 2 Big 2 Fail
Thanks Mike. Last time I checked, Philly is nearly 3 hours away from me. And I own property in New York City, thank you very much!
  • October 11 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for weaver727
Philly is about an hour from the area where I'm looking, so its crime rate is not a significant factor. Bucks and Montgomery County is where I am looking, if anyone knows where that is- basically in between philly and allentown.

Even some areas of Philadelphia are nice, but that's how it's always been. 70% of the city is terrible, but Center City is nice, and pricey. Art Museum area is up and coming, and the Manayunk/Roxborough area is moderately priced, and not a part of the murder pocket. The downside is every nice area is fairly close in proximity to a ghetto area, because there is SO MUCH ghetto. According to what I've seen, the housing market in CC Philly is actually doing quite well, and new condo conversions are currently 50-75% sold. There is also a new construction 10 year tax abatement, presumably to alleviate some of the blight. That is undoubtedly a factor.
  • October 13 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Renting is a guarranteed loss. Rent x 12 equals your loss in real estate this year.

Prices are flat in the Chesco area. However, the entry levell stuff has really hung in there for the past 2 years.

When we see 150k one bedroom condos go down, that is when it really isn't the time to buy. Values are predicated on the small guy buying.
  • October 14 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for weaver727
Kirk,
It goes without saying that renting is not financially getting you anywhere, and is a loss. However, in a market that seems to be going down, I would hate to buy now, and be upside down on a loan in two years.
  • October 16 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

  1. 1
  2. 2