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Old 02-28-2009, 12:21 PM
 
112 posts, read 345,727 times
Reputation: 134

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How would you guys rank the areas in philadelphia from most desirable ( aka most valuable ) to least desirable?

Art Museum/Fairmount
Logan sq
Rittenhouse/Fitler Sq
Graduate Hospital
Bella Vista
Queen Village
Washington Sq West
Old City
Society Hill

Do you think these areas are gonna fall another 20% by the end of this year?
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Old 02-28-2009, 02:37 PM
 
Location: a swanky suburb in my fancy pants
3,391 posts, read 7,737,587 times
Reputation: 1586
Art Museum/Fairmount......6th
Logan sq......4th
Rittenhouse.....1st
Fitler Sq.......7th
Graduate Hospital.....9th
Bella Vista......10th
Queen Village......8th
Washington Sq West........5th
Old City.....3rd
Society Hill......2nd

Do you think these areas are gonna fall another 20% by the end of this year?

High priced new construction and over inflated properties have fallen and probably will fall more depending on how much it was over priced to start with.

Under 500K apartments in well maintained buildings that offer full value haven't dropped at all and I doubt they will. It's really hard to say with resale houses since asking prices are so arbritary to begin with.
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Old 02-28-2009, 07:29 PM
 
3,490 posts, read 7,513,774 times
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This is how I would rate the areas. Slightly differently to bryson. Good luck with your search!

Rittenhouse
Society Hill
Washington Sq West
Old City
Fitler Sq
Logn Square
Art Museum/Fairmount
Queen Village/ Graduate Hospital
Bella Vista
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Old 02-28-2009, 07:29 PM
 
Location: Yardley PA
689 posts, read 2,095,016 times
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I 100% agree w/ those rankings.. I was just about to post my own and realized they were the same. I was going back and forth in my head though regarding Bella Vista vs. Queen Village. I would almost put the last 3 as a tie for last place, but still fairly nice. I was in a 3 million dollar penthouse in Rittenhouse today.. oh man.. nicest place I've ever seen I think. The bathroom was bigger than my entire first floor of my house! Definitly the most expensive part of the city.
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Old 03-01-2009, 07:00 AM
 
21,917 posts, read 32,091,453 times
Reputation: 20979
Quote:
Originally Posted by nabwong View Post
How would you guys rank the areas in philadelphia from most desirable ( aka most valuable ) to least desirable?

Art Museum/Fairmount
Logan sq
Rittenhouse/Fitler Sq
Graduate Hospital
Bella Vista
Queen Village
Washington Sq West
Old City
Society Hill

Do you think these areas are gonna fall another 20% by the end of this year?
Depends on your definition of valuable. Previous posts were ranking perceived cost of buying a home there, as well as neighborhood prestige it would seem.
Many people would rank value in terms of achieving more self worth through appreciation of equity. Most of the high end neighborhoods have peaked and are losing value. Graduate Hospital and Bella Vista still provide the ability to purchase and achieve a decent appreciation and home equity. That said, least desirable would be Rittenhouse Square and Society Hill, as well as anything that's a condominium. Buying on neighborhood alone without regard to investment potential is financial suicide in the current market.
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Old 03-01-2009, 10:00 PM
 
1,623 posts, read 5,965,113 times
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Buy in the most expensive comparable place that has what you like/want/need - even in a declining market the upside will always be there even if its total realization is 5-10 years out...that's my $.02 anyway.
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Old 03-02-2009, 12:13 PM
 
112 posts, read 345,727 times
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That's true. I was just thinking about growth potential. Out of all those neighborhoods, I think Art Museum and Graduate Hospital has more potential to grow. However, GH is still seedy in the southern areas. I'm not sure how much more it can grow since Washington Ave is pretty commercial/industrial and is always deserted in the weekends when business close.

What do you guys think of Art Museum? Between Spring Garden and Fairmount near Philly Art Museum. The Barnes is being built there. Any growth potential?
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Old 04-10-2009, 12:02 AM
 
9 posts, read 34,883 times
Reputation: 10
We looked at a place today in Graduate Hospital, Fitzwater ST between 21st and 20th. We have a son who will be a junior in high school by the time we move. I came home and looked up the crime stats and got a bit concerned. Can anyone tell me more about that area?
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Old 04-10-2009, 05:41 AM
 
Location: a swanky suburb in my fancy pants
3,391 posts, read 7,737,587 times
Reputation: 1586
Quote:
Originally Posted by toocan-anj View Post
We looked at a place today in Graduate Hospital, Fitzwater ST between 21st and 20th. We have a son who will be a junior in high school by the time we move. I came home and looked up the crime stats and got a bit concerned. Can anyone tell me more about that area?
I go to the YMCA at 18th and Christian, park on the street and feel pretty safe during the day. I've never had any problems. While it is no longer the ghetto slum it was 20 years ago, there is still plenty of that element hanging around as you may have observed. I don't forsee a time when you won't always have to watch your back there. I wouldn't want my kid walking those streets by himself.
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Old 04-10-2009, 08:26 AM
 
9 posts, read 34,883 times
Reputation: 10
Thanks bryson66201 - that is very helpful.
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