Everyone says its a great time to buy...

http://realtytimes.com/rtpages/20070914_goodbuytime.htm

Developer Withdraws Plan to Build Rite-Aid

http://www.phillyburbs.com/pb-dyn/news/113-12092008-1634824.html

I live in Plumstead Township and I'm glad they aren't going to build a drive throught Rite Aid!

What to do with a foreclosure home near by...

This article discusses how to handle a home in the neighborhood that is in foreclosure and how it affects other homeowners. http://realestate.msn.com/Buying/Article_USNews.aspx?cp-documentid=14782257&GT1=35000

Michelle C.

"small house movement"

http://realtytimes.com/rtpages/20081202_smallhouse.htm

I loved this article. It's about the trend in real estate moving away from these big huge mansion-type houses to smaller energy efficient homes with all the style you want, just on a smaller scale. This would be ideal as far as I am concerned. So much wasted energy occurs in these big houses that people have just to keep up with the Joneses. Rooms are closed off and not being used a lot of time or they're being heated and air-conditioned for no one. Also, as people age they can no longer take care of these big houses, funds get lower and they become eyesores. Check it out and think small. It's a wise move for the future.

Real Estate Outlook: Sales Jump in Ailing Markets

This is an article about the housing market in Florida as well as other states. It states that the prices have dropped between 24%-30% which makes it affordable for people to buy homes. Due to the decreasing prices, the Florida market is not doing that bad after all.

Please click on the link below to read the article.
http://realtytimes.com/rtpages/20081202_realestateoutlook.htm

When Foreclosure Is the Unwise Choice

Here is an article that talks about why foreclosures happen so easily and how they can be avoided through modifications to the loan, which are difficult for a borrower to acquire.


Foreclosure

Real Estate Boon in 2009

http://inman.com/buyers-sellers/columnists/berniceross/get-ready-real-estate-rebound

The above article talks about how things could really work out in 2009 for the real estate market. It doesn't make sense to me that it can bounce back so quickly.

Bluegreen: 182 layoffs coming in January

http://www.palmbeachpost.com/localnews/content/business/epaper/2008/11/28/1128bluegreen.html
Bluegreen Corp, a timeshare developer, will be laying off employees due to plunging profits. Since we just read about timeshares and condominiums I thought this article was interesting.

Commercial loan "nightmare" projected for 2009-JPMorgan

http://www.reuters.com/article/marketsNews/idUSN0150243220081201?rpc=77&industry=IND_REAL_ESTATE&isub=


Risky terms, will most likely see a significant increase in defaults in 2009 due to lack of credit, falling property values and reduced cash flow, Commercial real estate is will se problems in the near future due to the economy...

Real Estate Outlook: Sales Picking Up Tempo

http://realtytimes.com/rtpages/20081125_realestateoutlook.htm

This article is basically about how the market is moving forward, NOT dramically, but it is picking up slowly. And that people are jumping on the opportunity that the market price of homes has dropped!

Taking Risks on Real Estate Projects

http://www.nydailynews.com/ny_local/queens/2008/11/25/2008-11-25_mall_struggles_to_catch_on_owner_says_at.html

This article is about a fancy shopping mall that was built in a blue collar neighbourhood. Unsurprisingly to some, the mall has not become popular with residents. The article discusses how some saw placing upscale shops in a lower to middle class neighbourhood was seen as both enterprising and foolish by different people.

Reverse Mortgages Receive Higher Lending Limits

The increased lending limit for reversed mortgages will help some seniors to pay off their first loan and decrease their financial burden.


Department of Housing and Urban Development's Reverse Mortgage Lending Increase

5 fatal flaws in buying a foreclosure

I am on someone else's computer so I hope this works right. A foreclosure purchase may seem like it would save you money but this article points out key issues when looking at purchasing this kind of property... sub-prime inspection, environmental issues, not that great of a price, maintenance or damage or structural issues, etc. http://realestate.aol.com/article/improve/_a/five-fatal-foreclosure-flaws/20081103164409990001?ncid=AOLCOMMre00DYNLsec0002&icid=100214839x1213446983x1200838073
Michelle C

Township eyes $40 tax increase

http://www.phillyburbs.com/pb-dyn/news/113-11232008-1626330.html
Due to the slowdown in the sale of real estate, townships are losing money because of the lack of real estate transfer taxes.

NYC transit system and the ripple effect

http://news.yahoo.com/s/ap/20081120/ap_on_re_us/nyc_transit_woes;_ylt=AvACABFMrfJCArjZfm6dy6VvzwcF

This article is actually about the proposed rate hike in the NYC transit system. I got to thinking, however, when I read this article about whether it would have an impact on housing in NYC and its surrounding areas. The truth of the matter is that even if in a small way, everything that happens in a town does have a ripple effect. In this case, service cuts were also proposed which included the "elimination of bus and subway lines in areas where there is either low ridership or a duplication of services." There are people who live and work on these lines. This could cause them to change residences and/or jobs. It could change the character of the particular neighborhood involved. The article also states that, "While none of the changes would cut off neighborhoods entirely, they would mean longer travel times, more waiting around on the platform and stuffing more people into subways that are already crowded." This too could cause changes in affected neighborhoods lifestyles, even if it is in a small way. Our communites are built and formed by other things or the lack of things in the vicinity and sometimes they wither away because of the lack of certain things as well.

Issue of Artificial vs. Real Grass on the west coast

http://news.yahoo.com/s/ap/20081120/ap_on_re_us/turf_battle;_ylt=ApzdnuD6BPhG7rRyc7CSO_hvzwcF

Here's an interesting one. It goes something like this, "...the dilemma confronting Californians: Water supplies are dwindling, but some cities still require homeowners to maintain lush, green lawns. Other communities forbid artificial turf. People are actually getting fined for putting down artificial grass because it violates city ordinances. Lush green lawns in areas of California are somewhat of a status symbol. Yet, "Some water districts are offering customers $1 rebates for each square foot of lawn they remove and 30 cents per square foot of fake grass they install."

Housing in Recovery

http://realtytimes.com/rtpages/20081118_realestateoutlook.htm

This article is basically talking about the Housing market not being the Stock Market. The Housing Market is in recovery and the %s are on the rise lately. Its a positive outlook instead of all the negative in the economy.

http://money.cnn.com/2008/11/13/real_estate/foreclosures_october/index.htm?postversion=2008111315

It just keeps getting scarier by the minute. There have been over 9 million homes foreclosed since August of 2007. I thought it was particularly interesting that many people just stopped paying because of the crisis and not due to financial hardship...it is just easier to walk away. And we blame the banks, right?

Getting Relief From Tax Man

"Some residents in newer homes have argued their taxes subsidize the owners of older homes, whose property taxes are based on values set during the last countywide reassessment - in 1972. "

http://www.phillyburbs.com/pb-dyn/news/113-11162008-1622380.html

Changing Real Estate Market Prompts Creative Ways to Buy and Sell

Now that lenders are more selective with who they loan money to, many people are being turned down for mortgages because of deficient assets. However, lending rules for certain government backed mortgages allow a "non-occupant co-borrower" to co-sign for the mortgage. There are also other ways that real estate transactions are happening now such as buyers and sellers cooperating to help each other attain their goals.


Creative Ways To Buy and Sell