A national business website, Forbes.com, just named the Harrisburg/Carlisle metropolitan area as one of its ten most livable cities in America. The following is the entire news article that appeared on the front page of The Patriot News on May 4, 2010:
Guess Who Lives in America’s Fifth Most Livable City? You Do.
Harrisburg ranks fith in a Forbes.com list of America’s most livable cities. Pittsburgh is first.
“By and large, the cities on the list aren’t big tourist destinations, but they are places where costs are relatively low and quality of life is high,” said Francesca Levy at Forbes.com.
Levy said the list doesn’t intend to suggest one metro area is better than another.
“Rather, we developed a measure to judge one aspect of cities: livability.” And she siad Forbes.com defines that as “one where you can get through the day-to-day business of life witht he fewest obstacles.”
“That means, on average, having a good balance of job security and opportunity, safety, and a decent amount of stuff to do, and everyday costs aren’t out of control,” Levy said.
The ranking comes as good news for those who serve as the region’s cheerleaders.
“I think it speaks very well about our region, particularly when we’re in competition with metro areas of all sizes,” said David Black, president of the Harrisburg Regional Chamber.
The American Planning Association (APA) recently named Lancaster’s Central Market as one of American’s ten great public spaces. If you have never been to ‘Market’, you’re missing out on an experience that is uniquely a Lancaster landmark and tradition.
The APA’s Great Places’ program celebrates places of exemplary character, quality, and planning. Locations are selected annually and represent the gold standard in terms of having a true sense of place, cultural and historical interest, community involvement, and a vision for tomorrow. In short, they are considered enjoyable, safe, and desirable and places where people not only want to visit; but to live and work every day. They are defined by many criteria, including architectural features, accessibility, functionality, and community involvement.
Another month – another positive sign! The Standard & Poor‘s/Case-Shiller home price index rose 1.2 percent from June to August which reflects a positive trend for the third month in a row.
Before we all go off the deep end and declare “happy days are here again”, we should probably temper our enthusiasm just a bit. David M. Blitzer, the committee chairman for the Case-Shiller index said, “We do need to be cautious in coming months to assess whether the housing market will weather the expiration of the federal first-time buyer’s tax credit in November, anticipated higher unemployment rates and a possible increase in foreclosures.”
The term ‘Baby Boomer‘ gets thrown around a lot in the world of advertising. It seems like everyone is trying to sell to this segment of the population; including the real estate industry. Economic statistics show that baby boomers account for 28% of the population, but over 77% of all financial assets in the United States. This generation also accounts for more than 50% of all discretionary authority in private organizations as well as in government. But do REALTORS® and builders really know what baby boomers want in a home? Do they know what features they want? What locations are preferential? How much money they’re willing to spend? A new survey conducted by the MetLife Mature Market Institute and the National Association of Home Builders entitled 55+ Housing: Builders, Buyers and Beyond was just released that sheds some light on these very questions.
There is no denying that social media has grown exponentially over the last year or two and will continue to impact our lives in the future in ways that we can’t even imagine today. For evidence, go to my recent post on the subject. However; real estate companies, brokers and agents have been slow in trying to get their arms around this 800 pound gorilla since it first appeared on the marketing scene.
Perhaps the biggest obstacle that our industry has had to overcome with this newer form of advertising and networking is that a large majority of the company owners, leadership and top-producers are 50 plus years old. In general, they have had a successful track record that hasn’t included social media so in their minds the cost/time versus benefit matrix just doesn’t add up. In addition, this group of practitioners is traditionally more conservative and resistant to change. (In the interest of full disclosure and just so you don’t think I’m bashing this specific group, I fall within this age demographic – but just barely.)
A couple of weeks ago I posted a video to this blog which showed the impact that social media is having on our society, and in particular, on the real estate business. Still aren’t buying into this phenomenon? Wake up and smell the coffee!
Lancaster County was recently cited in ”Where to Retire” magazine as one of the eight best places to live during one’s golden years. What other locations did we share this distinction with? Fort Myers, Fla.; Winston-Salem, N.C.; Greeley, Colo.; Spokane, Wash.; Chattanooga, Tn.; Salem, Ore. and Chico, Calif. I’d say we’re in pretty fair company.
“Where to Retire” magazine was launched in 1992 with the goal of helping its readers find the ideal place to retire. Now published six times a year, the magazine covers the best retirement regions, towns, and master-planned communities, and has a national average circulation of 220,000 and an average readership of 500,000.
According to the magazine’s editor, Mary Lu Abbott, it’s a prime time for retirees to find affordable places to relocate, as an excess inventory of homes provides great values at low cost. She’s states that as the housing market recovers, much of the buyer traffic will be active adults looking toward retirement and the cities that offer the opportunity for a well-rounded lifestyle coupled with great home buys should see increased interest from relocating retirees.
Everyone and their brother has an opinion or theory on how the country got into this economic situation. Some people blame Wall Street, the financial institutions and banks; other people take direct aim at REALTORS®, builders and mortgage companies; still others impugn the American consumer and their fixation with obtaining easy money with no strings attached.
I found this short video enlightening, insightful and explains the economic predicament about as well as any that I have read, heard or seen.
Despite a significant decline in the real estate market nationally, the city saw only a 0.5 percent drop in real estate transfer taxes last year. That shows a strong interest in living in the city.
And, the transfer tax decrease comes from comparing 2008 to the previous three-year average. Those three comparison years, 2005-2007, happened to be the city’s best three years ever.
And the city experienced a 10-year high in the number of building permits issued, with $115 million in new construction activity in 2008. That level of investment is the third highest in city history, behind only 2006 and 2007.
This is great news and should be shared with all Lancastrians - – - so why did it appear on page B4 buried at the bottom of the page? The front page of the newspaper ran the following four stories:
Jurors Hear 911 Call – Story about a local murder trial (negative slant).
Good Man Who Got Greedy is Jailed – Story about a banker who swindled friends and customers (negative slant).
Fumo Gets 55 Months in Prison – Story about sentencing of Pennsylvania lawmaker for corruption (negative slant).
Welcome Back , Potter – Frivolous piece about the latest installment of J.K. Rowlings’s newest movie (fluffy slant).
Surely the powers that control which stories that are run on page one of the Intell/NE could have found a small corner of the front page to trumpet the accomplishments of its own city? I guess that’s the reason why I’m not working at LNP as a newspaper editor.
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¹ Harris, Bernard. “City Audit Shows Positives and Negatives.” Intelligencer Journal/Lancaster New Era [Lancaster, PA] 15 July 2009, Metro Edition, Local Section : B4.
Finding it hard to keep up in today’s fast-paced world? Are you waiting for this inconvenient ‘Recession’ thingy to pass so you can get back to normal? Think again.
(WARNING: This video will make you rethink everything.)
Google just upped the ante in the competitive field of real estate listing search engines. In a move that certainly had a few established players (i.e. REALTOR.com, Zillow, Tulia, et.al.) do a double take, Google Maps incorporated a new tool into its site that links buyers and renters to available properties. The feature was only launched in Australia and New Zealand yesterday, but I understand that selected metropolitan areas in the United States are already able to utilize the service.
The following is an instructional video on how to utilize the service:
Image courtesy of Linda Johnson for the L.A. Times
When I read George Orwell‘s book “1984″ back in high school, I scoffed at some of the outlandish things that ‘Big Brother‘ was allowed to do. Well it’s twenty-five years after Orwell’s fictional year and at least one of his predictions is coming true right here in Lancaster, PA. Video cameras are being installed on the streets of Lancaster to keep an ever vigilant eye on it’s residents. This story has caught the eyes of many cities across the country including Los Angeles, CA. The L.A. Times published a story this past week on Lancaster’s very own eyes in the sky.
Lancaster, PA Keeps a Close Eye on Itself *
A vast and growing web of security cameras monitors the city of 55,000, operated by a private group of self-appointed gatekeepers. There’s been surprisingly little outcry.
Reporting from Lancaster, Pa. — This historic town, where America’s founding fathers plotted during the Revolution and Milton Hershey later crafted his first chocolates, now boasts another distinction.
It may become the nation’s most closely watched small city.
Yesterday, Lancaster Newspapers, Inc. (LNP) made the decision to cease printing its evening paper, the Lancaster New Era, by June 29, 2009. To many older, long-time New Era readers in Lancaster County this came as a complete shock. Many loyal subscribers will ask, “How could this once-proud icon of local journalism just decide to shut down after so many years?” Well, to be honest with you, the real question is, “How could LNP have continued to operate two newspapers profitably?”
LNP was a dinosaur in that it was in the minuscule minority of newspapers across the country that published a morning and evening paper. Most newspaper companies figured out a long time ago that repackaging and regurgitating news stories from the morning edition wasn’t going to cut it. It just took the powers that be at LNP a little longer for reality to set in. But the real story isn’t the fact that they decided to discontinue the afternoon paper, its that I don’t believe they still see the runaway freight train that’s going to run over them – the Internet.
Networking has changed from when I first got into the real estate business over 25 years ago. Back then, you wanted to stay in touch with people (i.e. future listings and sales) via telephone calls or personal visits with the goal that they would remember you when it came time to sell or buy real estate. In addition, you were always asking the question, “Who do you know that could use the services of a professional real estate agent?” While these tried and true techniques still apply today, they are enhanced and accentuated by the phenomenon of Social-Media Networking. Click on the slide show below to get a better understanding of how Social-Media Networking can work for you.
HINT #1: Before playing the slide show, click on the “Full Screen” icon in the lower right hand corner. This will make the presentation easier to read (some of us need help with our eyesight.)
HINT #2: Definitely click on the slide with the embedded video about Trader Joe’s. What a catchy little tune.
HINT #3: When you’re done with the slide show, hit the “Esc” key to return to this blog so you can read more cool stuff.
Some glimmers of hope are starting to emerge on the horizon and some economists are starting to shed their doom and gloom facades and actually smile. Alan Murray, who writes for the Wall Street Journal, is cautiously optimistic about the upcoming year and he shared his thoughts recently in a piece posted on-line. He sees five things happening in 2009:
This will be a good year to invest in stocks. His rationale? He thinks that we’re at, or close to, the bottom of the market and the age-old adage applies - ”Buy low, sell high.” It will be tough for most people to take this advice because they have been burned in the market over this past year but if you can get over your investing jitters, opportunity awaits.
It will be a good year to invest in real estate. He points out that buyers who are entering the market at this time are finding historically low interest rates and an inventory of homes that is second to none. He feels sellers will start becoming more realistic with their pricing which will lead to good opportunities for those who can recognize it.
Americans will learn to live within their means. This trend is happening before our eyes. People no longer heat their homes to 70 degrees – it’s now 66 degrees. A new car that adorned their driveway every three years is now turning into six years. A pair of new jeans that used to be purchased at that trendy store in the mall are now being picked up at WalMart. Multiply these scenarios by 300 million and you understand what effect it is having on the American economy.
President Obama will have a historic opportunity to reshape public policy. Because of the economic crisis, the new President will have an opportunity to do things with the American economy that were unheard of in years past. The stimulus package numbers that are being bantered about are mind-boggling and this money is going to be pumped into new roads, bridges, infrastructure, schools and just about anything else that moves. A lot of companies and people will benefit because of this windfall.
Your (federal) taxes won’t rise. He claims that even though Obama said during his campaign that taxes would be raised for those Americans in the upper tax brackets, no politician is willing to back this in the face of a serious recession. Well if taxes aren’t increased, how is America going to pay for all this “stimulus?” That seems to be the million (or should I say trillion) dollar question.
Time will tell if these predictions become a reality.
Let’s face it - negative news sells! Very seldom are headlines written by the media that have to do with positive things that happen in our society. The real estate foreclosure situation is another event in a long line of stories that the media is sensationalizing to sell their product. The problem is that consumers are actually buying into what the media is spewing forth as the next coming of the Black Plague.
Before I get too far into this post, I want to make two things very clear. The first is that I want to disclose up front that I’m a real estate broker who makes his living listing and selling real estate. I have a biased interest in promoting my product. Secondly, I don’t want to make light of the fact that foreclosures are a terrible thing. When a person loses their job or some catastrophic event occurs in their lives that prevents them from paying their mortgage, my heart goes out to them. Now that my cards are on the table for all to see, let me hop up on my soapbox for a minute.
Real estate foreclosures across this nation are up. There – I said it. I agree with the media. According to the latest statistics compiled by Realty Trac, a well-respected web site that tracks real estate foreclosures, they are up nationwide in November of 2008, 28.9% from the previous year. As a consumer, if I heard that figure, it would cause me to sit up and take notice. But what the media fails to point out are ALL the figures behind the increase. When Realty Trac crunched their numbers for Pennsylvania, they calculated that .073% of households were involved in the foreclosure process at the end of November 2008 (No - I didn’t put my decimal in the wrong place). Put another way, that’s about 1 out of every 1,300 households in the Commonwealth. Do these numbers indicate that foreclosures are up in our state? Absolutely. But does this in any way sound like a financial epidemic of epic proportions? There is no question that some areas of the country have been hit harder than others, but Pennsylvania is just not one of them. In fact, Realty Trac has determined that only 5 states (California, Florida, Michigan, Nevada and Arizona) account for close to 60% of all foreclosure activity. As mentioned previously, real estate foreclosures are not pretty. But what is disconcerting to those of us in the real estate business is that the mass media is proclaiming that foreclosures are running rampant when in fact, especially in Pennsylvania, that just isn’t the case.
A national business website, Forbes.com, just named the Harrisburg/Carlisle metropolitan area as one of its ten most livable cities in America. The following is the entire news article that appeared on the front page of The Patriot News on May 4, 2010:
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Yesterday, Lancaster Newspapers, Inc. (LNP) made the decision to 
