Philadelphia Housing Market Gems

Driving through South Philly you could be forgiven forenterprising residents began upgrading the properties.
thinking you were in a war zone, at least from theAnd now, Fitzwater and co is a good bet for people
perspective of this out-of-towner. But turn a cornerforced out the New York property market by
onto Christian, Fitzwater Street, Kater, Greys Ferry,escalating prices. With easy access to freeways and
and suddenly homes are well-kempt, flags are flyingtrains, this area is a gem for commuters travelling to
and tree-lined streets reflect optimistic times ahead.the pricey Big Apple.
Naval Square, once the frontier of investment, isThere is further evidence of gentrification in
now being surrounded by upgraded properties.Fitzwater. A few condos are going up, a sure sign
South of Christian, rubbish flutters around the streetsthat house property prices have risen.
like modern day tumbleweed. At times whole blocksDespite the media rumblings of a slowing property
seem to have been raised to the ground. A sadmarket, (and realtors are definitely upset at no longer
brown building catches the eye. It has a smashedbeing able to bid up prices between interested
window and piles of furniture are falling through theparties), the pace of change and improvements is still
hole, about to tumble onto the street. It makes yougoing strong in this part of Philadelphia. Contractors
wonder how long before some bored punkstill re-model at a frenzied rate. Businesses are setting
accidentally empties lighter fluid over the remains andup shop too: Turkish and Mexican restaurants,
tries the flint for the last time before running acrossswanky bars, coffee shops. And residents do their bit
wasteland to safety.too, to make this part of town a great place to live.
The general air is depressed. This lack of care, lackThey do not tolerate dirty sidewalks; bored
of hope, lack of pizzazz that is supposed toadolescents don't loiter with intent to do mischief for
differentiate Americans from boring Europeans, hangsgrins; it is a nice neighborhood.
like a grey cloud over the neighborhood. Even theseSo, if you take note of an indepth study on property
optimistic eyes fail to see through the gloom, asprices for the coming couple of years, you will see
every street corner seems to sport overweightthat Philadelphia is not included in the correction that
sloppily dressed males of all ethnicity, one leg bentwill be seen in Florida and California and the rest of
back resting against the wall of a store, chatting lazilythe upmarket North East. Philadelphia started at a
about the game and the latest gossip on the 'hood.heavy discount, so you could do worse than buy into
It is quite shocking to hear that just a few yearsan area where it can only get better in the next few
ago, prim and tidy Fitzwater was in about the sameyears.
condition. Local realtor, Ingrid Kernstock, explains thatSee past the occasional rehabs-in-waiting in the
for her, it was a no-brainer to move into the area 3immediate vicinity, they will be dealt with as
years ago. The evidence of gentrification in full swinggentrification continues apace. The putrefaction of
was clear to be seen. 3 story wrecks, under-pricedthe South of the city is being pushed aside at a
for decades in comparison to uptown New York,great rate of knots. Cash in now on a house to call
were going for $100,000. The tone of the area washome for years to come, before they get too pricey!
improving by the month as developers andSatisfaction almost comes guaranteed!