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Blake Rubin’s Analysis on the Real Estate Conditions of Philadelphia

02/02/2016

Blake Rubin was interested in architecture and visual arts since he was a kid, which has led him to pursue a career in real estate development. He is a skilled real estate individual whose focus is on selling properties, from residential to commercial, in the United States, especially in the city of Philadelphia. His curiosity and eye for exceptional designing has led him to complete his Bachelor’s degree in the field as well, and later, turn it into a full-blown career.

However, he is also planning on building his own NGO in order to improve the standard of living of communities that belong to the middle and lower class, so that they have sustainable properties too. From art and physical education programs, he learned to develop his work ethics, which still assist him in facilitating his customers. His traveling experience has given him insight on the properties and their values, which he utilizes in his career. With an internship, and later a job, he learnt all the necessary things and then became an established entrepreneur himself.

Since Rubin is from Philadelphia, he keeps himself updated regarding the latest real estate news of the region. According to him, the market in Philadelphia can manage the previously working, as well as the additional units coming in the market. Although it has seen some fluctuation on student housing and multifamily market in the last few months of the past year, it will gain stability in the future.

The reason behind such fluctuation, Rubin states, is the upward trend in the concessions. Varied offers are being made to the renters by new and old apartment landlords. These include lowering rates on selected units, one-month free living, move-in specials, and other special offers. These special considerations by the renters speak more about the real estate market condition, and give us the picture that it may be mitigating a bit.

The third quarter report of Delta Associates states that with job growth and increasing population in the city, the new apartments are being occupied which is causing stabilization in Philadelphia’s market. Axiometrics have also noted an addition of 600 new jobs in the past 12 months. Delta report mentioned the long-term optimism for the regional apartment market, which will be maintained by stronger job growth.

Between December 2014 and November 2015, the selling of 14,016 homes took place, which incorporates 21% of all sales. This strengthened the home sales that increased up to 15% year-over-year. This also caused the migration of many real estate firms in Philadelphia, because the market is now promising profits. People are coming to this city, as it is now offering modest job growth. Rubin assured that these, in no way, will over build the place, and will be a right investment for real estate agents as well as the buyers.

 
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