We are thankful and feel blessed that, despite it's many challenges, we have survived 2008.
We now look forward in 2009 as we have made many significant adjustments for the changing market are in the process of implementing many enhancements and upgrades to continue expanding our effective market coverage and our ability to provide the best service to you!
We're we are excited about the benefits these changes will provide in 2009!
Hoping you and your family have a warm, wonderful, Southeastern Pennsylvania Merry Christmas and Happy Holidays!
The Christmas season holds special meaning unique to each one of us.
Here are links to resources we have provided in previous articles celebrating from different persepctives the meanings, traditions, literature, music, food, fun, faith and family gatherings associated with this time of the year. Enjoy!
Many of us, who are contemplating buying or selling real estate in Southeastwen Pennsylvania and the Delaware Valley, are trying to predict the real estate market and reduce our risk of making a bad financial decision.
A question is usually asked, "Is now a good time to buy or sell real estate, especially a residence?"
Those wanting to buy may be concerned about purchasing a residence that may continue to lose value. Those wanting or needing to sell are worried about trying to get out at least what they have invested plus some appreciation. If they don't have to sell now, they be considering holding off until the market improves and stay in the house or rent it. So, what's the best answer?
Foreclosure means more than just the loss of your family home. It means that you will lose any equity that you have may have in the house. It also means that your credit with be severely effected for a long time and may even keep you from purchasing a home again. However, there are alternative steps you can take with the help of an experienced real estate agent who is also a foreclosure prevention specialist (FPS). These options range from modifying your mortgage to selling your home even if you have no equity and moving into a new home. In short, you don't have to lose your home to foreclosure.
You can stop foreclosure on your home and save your credit, but you have to act quickly and learn what options are available for your situation.
Contact Me for a brief special report: "How To Avoid Foreclosure On Your Home" or to discuss in more detail the next steps you may be able to take and avoid foreclosure.
When looking at the year-to-month actual statistics (using the most recently completed month of May vs. March and January) for Bucks County, the results for residential homes on the market, sold, average price and days for sale before close is charted as follows:
Yr Ending
Units Listed
Units Sold
% Sold
Sold Avg.
Avg. Dom
05/2008
12982
6316
49
$361,270
66
03/2008
13369
6545
49
$365,424
64
01/2008
13451
6789
50
$363,412
63
This shows that while the trend is still downward, it is slowing and hopefully will soon start to level and even reverse direction.
The current inventory is 4256, with an average monthly Sold of 485, yielding a backlog of 8 months to sell off the inventory at current rates of sale.
As mentioned in the prior, but still current, "Advanced Access Anomalies" post, there are still many major issues with web service and included applications. All are supposedly in the process of being resolved.
However, the the resolution of those problems is subject to great uncertainty for users due to inadequate communications from the development staff within the company and almost none with the users unless you inquire through the toll-free support group that knows or little and is authorized to communicate even less to the users.
At some point there is suppose to be a major rewrite of the IDX system, but there is no estimate or even public acknowledgment that it is in progress. The current IDX system is not working my MLS area and the last time it the data updated was several week ago. Hopefully, some of this delay is due to incorporating the new RETS data exchange format.
FYI: If you have a separate eNeighborhoods web site, it was also experiencing technical difficulties today, including going offline.
When looking at the year-to-month actual statistics (using the most recently completed month of May vs. March and January) for Delaware County, the results for residential homes on the market, sold, average price and days for sale before close is charted as follows:
When looking at the year-to-month actual statistics (using the most recently completed month of May vs. March and January) for Chester County, the results for residential homes on the market, sold, average price and days for sale before close is charted as follows:
When looking at the year-to-month actual statistics (using the most recently completed month of May vs. March and January) for Philadelphia County, the results for residential homes on the market, sold, average price and days for sale before close is charted as follows:
This shows that the overall trend is still slightly mixed and and appears to be bottoming -- in some categories showing some improvement so that eventually it will be tending back upward.
The current Philadelphia County inventory is 9493, with an average monthly Sold of 1094, yielding a backlog of 8 months to sell off the inventory at current rates of sale.
Providing news, comments, information and resources with a focus on supporting you while conducting business, living and visiting within the Southeastern Pennsylvania and Delaware Valley region.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
If you live in 
e many opportunities to enjoy fireworks displays put on by local communities.
;)
;)
