Welcome!

Whether you are looking to buy or sell a home, or simply looking to learn more about the Philadelphia real estate market, you've come to the right place.

I'm Eric Fox - part of the Prudential Fox & Roach team based in the historic Rittenhouse Hotel.

I know we've all seen the headlines over the past few months regarding the economic and foreclosure crisis...I am here to clear up any misconceptions about our marketplace and to assist you with all of your questions and concerns.

Everyone knows that markets rise and fall... Generally speaking, in 2008, the Philadelphia real estate market has done fairly well.  Transactions are down but median prices have remained reasonably steady. 

Interest rates have come down almost a full percentage point over the past few months to around 5.25%. Additionally, banks are slowly but surely starting to lend again. This combination, compounded by first time home buyer tax incentives, I feel will result in an increase in residential real estate activity...  My guess is that over the next few weeks as more money filters into the banking system through the stimulus plan more people will become aware of the fantastic interest rates and gain the confidence to make a move. Think about this... financing $100,000 a few months ago cost a buyer $631 per month at 6.5%. Today at 5.25% that same $100,000 would cost a buyer only $551 per month. That equals a $240 per month savings on a $300,000 home purchase price... I'd be surprised if that doesn't keep things moving! 

For more information on buying, selling and investing please click on the links to the left or fill out the questionnaire above and I will be happy to contact you.

 

"I've done 6 transactions with Eric so far.  When buying, Eric quickly picks up on what you want and doesn't waste time on unsuitable properties.  When selling, he challenges you to make it as "marketable" as possible.  He's even been known to bake cookies at his open houses.  I couldn't dream of using anyone else."

~ Mike H., Graduate Hospital 2008

 

"Eric helped me buy and sell property in Philadelphia.  Throughout the entire process he provided candid feedback, quick responses, and first-class negotiating skills.  No request went unanswered and everything was handled with the utmost attention to detail.  Living across the country when my property sold, I was confident from day one that the transaction would be seamless in my absence.  I give anyone my unequivocal recommendation to use Eric for your real estate investments or home buying needs."

~ Bradley B., Graduate Hospital 2008

Eric Fox ... A New Approach to Philadelphia Real Estate