Home Prices Continue to Strengthen Nationwide

 

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.”

Stay tuned – - -

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What Baby Boomers Really Want in a Home

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.

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Will ‘Tweeting’ Benefit Your Business?

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.)

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Is the Social Media Revolution a Passing Fad?

more about “Social Media Revolution“, posted with vodpod

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!

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Lancaster County Heads Retirement Relocation Options

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.

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Tryin’ to Understand the Economic Crisis

 

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.

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Lancaster City Bucks National Trend

 Lookin' good Lancaster!

In a story that appeared in the Intelligencer Journal/Lancaster New Era today, the Lancaster City Council Finance Committee touted the city’s recent positive trends in real estate activity and growth:

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.

New businesses are opening downtown, redevelopment is continuing in the northwestern quadrant of the city and the new Lancaster County Convention Center and Marriott Lancaster at Penn Square Hotel recently opened. ¹

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:

  1. Jurors Hear 911 Call – Story about a local murder trial (negative slant).
  2. Good Man Who Got Greedy is Jailed – Story about a banker who swindled friends and customers (negative slant).
  3. Fumo Gets 55 Months in Prison – Story about sentencing of Pennsylvania lawmaker for corruption (negative slant).
  4. 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.

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Fasten Your Seat Belt!

 
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.)
 
more about “Did You Know?“, posted with vodpod

Now go out there and make things happen.  Happy Monday!

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