The Big Three

The three most important words in real estate are Location, Location and then Location!

Now, because of the economy, the mortgage crisis and general reality, the real estate landscape in the City has changed.

A couple of years ago, the dental assistants turned developers were climbing all over each other to buy overpriced Granny houses in Fishtown, Port Richmond, Temple University and Graduate Hospital/Grays Ferry.

Then reality hit and the prices fell and they were stuck with property that they could not sell (and some still are).

Then, once the tax credit and a little bit of positivity occurred, people started to come back into the market.

But, they rethought their ideas of where they wanted to be.

The light went on and said that they should be in the Box. The Box that goes from the University of Pennsylvania to Broad and from the Parkway to South Street.

Why? Because it is close to everything, is where the action is for all ages, where the “old money” is and is very close to the best outlet for rentals if they move and can’t sell…the University of Pennsylvania.

So for that reason, Ritt Fit has had a steady flow of buyers and retains it’s standing.

The future developments in the Center City’s northeast will stagnate for quite a long time and Rit Fit will reign for years to come as The Location!

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