Phila. property still sells

From the Inky

Phila. property still sells
Center City sales defy the trend
By Joseph A. Slobodzian

Inquirer Staff Writer

Last year, while the housing and mortgage crises hammered Miami, Detroit, Atlanta and Las Vegas, Center City Philadelphia held its own, buffered by a large resident workforce and a lower cost of living.
That is one finding in the Center City District's annual "State of Center City Report," made public yesterday.

"We are not Miami, and we are not Las Vegas.

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Did we hit the bottom???

From MarketWatch.com

Market Improving - It's in the Inquirer

Here's a great article summarizing the state of the Philadelphia real estate market.

http://www.philly.com/inquirer/home_top_stories/20080310_Philadelphias_real_estate_market_improving.html

2218 E Boston St

Our latest listing:
2218EBoston.com

Cost Vs Value

Which home improvements will add value to your home?
Check CostVsValue.com before you start cutting checks to your contractor.

An interesting article in the NYTimes about the Psychology of Pricing:

The Psychology of Pricing

By TERI KARUSH ROGERS

Published: February 18, 2007

IN a market where buyers and sellers circle one another warily — each certain that he or she is being taken advantage of, no matter what the conclusion of a deal — the asking price of a property is rarely a straightforward reflection of comparable values. While comparables may be a starting point, the price at which a seller offers a property is often also based on wishful thinking, propaganda and ploy.

Illustration by Douglas B. Jones

Buyers, in turn, parry by deconstructing the price. They aim not merely to assess a dwelling’s fair value but also to plumb a seller’s bottom line and vulnerabilities. How a price tracks with similar properties, how large and hasty any reduction is, and even how parsed or rounded a number is — all these are grist for concluding, rightly or not, whether a price is firm, desperate or a sign of painful dealings to come.

Or even a sign of delusion.

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