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Move -Up Buyers Overlooked in Stimulus Package

February 27, 2009

Analysis of:Who won't be helped by housing fix | money.cnn.com

The stimulus plan as outlined by our new administration, while a good incentive, will not be of advantage to several segments of the potenial buying population. In my own real estate practice I have young couples ready to move up to a larger property that don't qualify as first time buyers. Also, even if this was not the only factor, almost anyone who has purchased in the past five years and did not have a rather large downpayment, is faced with the fact that the proceeds they would obtain at settlement are not enough to even allow them to clear title and pay off what is owed, let alone have anything left over with which to purchase another property.

Property Owners Dig in Their Heals

December 18, 2006

Analysis of:Are Consumers Sick of Development? Attitudes against Land-Use Development Grow Deeper, Survey Says | rismedia.com

I have observed in my own community at large, increased resistance among residents to almost any type of development project.

This has included resistance to enlarging a well known Cancer Center  - the Fox Chase Cancer Center in Northeast Philadelphia.

Also, and with good cause, some of the currently undeveloped areas, of which there are fewer and fewer, have some citizens fighting to protect them for sake of the environment they say, pollution (noise and particulate), animal protection, traffic, etc.

New residential home developments on former farmland, for example, creates increased road congestion and traffic, and puts stress on communities for schools, police, and other resources.

Housing Outlook Greater Philadelphia Area 2007

November 27, 2006

Analysis of:Research Department Analysis - Fed Reserve Bank of Philadelphia | www.phil.frb.org

1) This research shows that the real estate market cannot really be discussed on a national level. Graphs show that the decline in appreciation in residential housing is much less in PA and NJ as compared to the national average.

2) Economic factors remain positive overall for growth in the tri-state area, but this varies. Manufacturing growth stalled in the third quarter, retail and in particular luxury item sales strengthened.  Interest rates remain favorable.

3) Employment continues to grow steadily according to the research analysts at the Federal Reserve Bank and modest overall economic growth is forecast for the region. This bodes well overall for the housing market, but according to what I have read and heard, Realtors in our area expect there to be excess housing inventory until Spring of 2008.

Bad News Sells!!

October 17, 2006

Analysis of:Existing-Home Sales Decline As Prices Fall, Inventories Rise | online.wsj.com

News Media over-hypes the so-called downturn in the real estate market - this gets readers, viewers, etc. and sells more papers.

There is no basis for a falling market as job growth and the economy are good.

Interest rates have been declining over the past thirteen weeks.

Cooling Perhaps, But NO BUBBLE BURSTING

August 31, 2006

Analysis of:New Signs of Cooling in Housing | www.nytimes.com

1) News Media Likes Sensationalism - It Sells!.... the more alarming th story - the more "sexy" so to speak and the more viewers and readers obtained. However, the numbers show that there are dramatic differences in the number of sales from last year to this year, and most of these negative changes in my market have taken place in July and August of this year.

2) Perhaps, we are really just moving into a BALANCED MARKET - it just seems like a BUYER"S market in contrast to the heavily weighted SELLER"S market we have been in for the past 5-6 years.

3) Interest rates are still excellent but gasoline prices are definitely hurting housing and other businesses as well.

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