USA’s Hottest Real Estate Zip Codes - Philadelphia has #2 & #3

Well, finally something that’s been touted here at this blog site for several years is proving to be true, although it comes to no surprise for those of us seeking, wholesaling and purchasing cash flow real estate investments in Philadelphia and the region.

Based on a Zillow “Home Value Index”, a slideshow released last week on CNBC’s website has two Philly zip codes coming in at second and third place in the U.S.

Philadelphia homes in the South Philly zip code of 19145 (# 2) has seen a “year-over-year price growth of 19.1%“, while the zip code of 19148 (#3) has seen a “year-over-year price growth of 16.9%”.

At sellphillyproperty.com , we have wholesaled and purchased ourselves cheap investment houses in these zip code areas over the years. They have become great cash flow investments for our real estate property investor client base. There is also a spill over effect from these zip codes too. With Philadelphia Zillow’s one year home value going down only .1%, there have been pockets of Philadelphia investment homes being purchased at great values resulting in cash flow and equity.

These are the zip code areas neighboring 19145 and 19148. The various neighborhood growth developments being acted out in the Philadelphia Northern Liberties, University City (19104 # 14 with 13.5% growth), West Philadelphia, South Philadelphia, Temple Univ. - North Philly, Nicetown/Logan (Temple’s newly opened medical school) and parts of northeast Philly, are undeniable.

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Foreclosures To Decrease Next Year?

Forecast Expects Foreclosures to Decrease in Coming Year

Foreclosures are expected to subside in the coming year. The latest data released by UFA L.L.C., a firm located in Ann Arbor Michigan that researches mortgage activity, states that foreclosures are expected to decrease in the next year. After four years on the rise there is no doubt that it will be nice to see foreclosures start to subside.

Improvements in the foreclosure arena are seen linked to tighter lending practices, home prices stabilizing, and an improving economy. The one element working against foreclosures is the increasing unemployment which will leave some without the ability to make their mortgage payments.

The onslaught of no-doc loans and inflated home prices led to four years of increasing foreclosures. The decline of real estate values is largely attributed to an elevated rate of foreclosures. A decrease in foreclosures will be a welcome sign for a real estate market that has seen better times.

Click here to read an article at Business Week about foreclosure rates. It will takes several clicks to get to the article, but a pretty interesting read.

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