The epidemic caused a renewed emphasis on homeownership, which altered the mindset of the populace, which would typically be renters. Investors in Philadelphia real estate should therefore be aware that this motivating factor is currently cooling and consider modifying their investment plan. Read on as we examine what Philadelphia homebuyers and home sellers can anticipate in 2023. Please be aware that the information in this article is not intended to be advised on financial or legal matters.
Tax Laws
Philadelphia real estate buyers and sellers can expect new laws to come into play. Among them, there is a renewed focus on capital gains taxes and like-kind exchanges and an additional surtax on net investment income, dependent upon your income and marital status. Hybrid agent investors like those at Philly Home Investor dedicate themselves to staying on top of the market so that they can assist with selling or buying real estate to help you take advantage of the tax laws before the 2023 changes come into effect.
Interest Rates
Philadelphia real estate buyers and sellers should anticipate interest rate adjustments to effect buyers, driving many to the sidelines, even though analysts may have varied viewpoints on what investors can anticipate from the real estate market in 2023. Your hybrid agent investor from Philly Home Investor can offer a guaranteed closing date, usually within a few days, if you’re thinking about selling and want to do it before interest rates rise.
Supply and Demand
Philadelphia real estate buyers and sellers may anticipate the overall shortage of housing supply to keep increasing. The now, though, is the only time that matters. If you’re a seller, you should speak with the hybrid real estate agents at Philly Property Investor. They can compare your potential return from marketing your home vs their offer to purchase it outright as a professional investor. Additionally, hybrid agent investors like those at Philly Property Investor give you line-by-line information so you can comprehend your out-of-pocket costs should you decide to sell your home as well as the costs and danger your hybrid agent investor would assume by purchasing your home directly. Our hybrid agent investors at Philly Home Investor give you the facts to make an educated decision on the best way to sell, given your current circumstances. At Philly Home Investor, we are your neighbors here in Philadelphia and want you to feel good about the deal made with us long after closing.
“…only company that actually came prepared to answer all of my questions.”
“Philly Home Investors was the only company that actually came prepared to answer all of my questions. Every single concern I had they pretty much put to rest. Not only that but they came with comparable comps from the area which educated me on the value of homes in the area. I felt like I had a fair deal and they made the process even easier for me by letting me sell the house with everything inside. True professionals! “
Housing Costs
Investors may anticipate a moderate but steady continuation of rising home costs in many regions, despite the possibility of a halt in sales growth and a minor decline in housing costs in some markets. In contrast, relatively few markets will see a fall in value and some may see no change. Additionally, because sellers never pay commissions, closing costs, or broker fees, selling directly to a hybrid agent investor from Philly Home Investor acting as a direct buyer saves you time and money.
Buyer Pool
Buyers and sellers can expect the changes in the 2023 Philadelphia real estate market to impact the speed at which homes are selling and the ability of buyers to lock in a loan at the current rates. Sellers may wish to consider the decreasing number of buyers who can afford to buy as housing prices continue to climb and sell now. In contrast, buyers who may be on the fence about buying should consider jumping into the market before interest rates or home values push you out of the running. If time is of the essence, the property needs work, or you don’t have any interest in the conventional listing process, acting as a direct buyer at Philly Home Investor, our hybrid agent investors buy houses as-is for cash.
Technology
Millennials make up most of the Philadelphia real estate buyers, and sellers can expect an increased focus on the use of technology in 2023. This buyer pool uses the internet to research and narrow their options before making real estate purchases, and sellers must use the internet and online technology to their advantage. If you should decide to list your home on the Philadelphia real estate market, acting as a real estate agent, a hybrid agent investor like those at Philly Home Investor will list your home using the latest technology.
The hybrid agent investors at Philly Home Investor know what Philadelphia real estate buyers and sellers can expect in 2023. So why not talk to a hybrid real estate agent at Philly Home Investor about your plans for buying or selling and ask any questions you may have? We’re happy to help calm your concerns, and you’re under no obligation whatsoever. Our policy at Philly Home Investor is to keep the lines of communication open so that you won’t feel ignored or like another number to the hybrid real estate agents from Philly Home Investor and our full-service in-house team of industry specialists. Call Philly Home Investor at (215) 422-3288.