Have we hit the bottom? According this article in November’s SmartMoney magazine believes that’s the case. The article highlights the Top 25 areas of the country that are poised to start rebounding. One of the highlights:

Over the past year, Philadelphia prices have stayed stable, while New York and Boston suffered small declines. And only 7 percent of Philly-area homeowners sold for a loss in the past year, according to Zillow—well below the national average of almost 24 percent.

That’s been what we’ve seen here in Chester County as well. As the article says, we have business (pharmaceuticals and health care as well as financial giants such as Vanguard) that provides a steady stream of employment and people willing to move to the area.

So, have we hit the bottom? Well, if I could make predictions like that, I would probably be living on a private island somewhere. It may be premature, but I do think that this area has not seen the same price drops that many areas that were hit much harder by foreclosures and short sales and in general I think prices are remaining fairly level.

Thinking about moving to the area or just want to discuss your options in TODAY’s market. Feel free to contact me. I’d love to discuss it with you.

PHOTO CREDIT: CoCreatr

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