Almost a year old but it gives an idea about this segment of the maket in terms of its purchasing power of $800 Billion dollars.
Are you in a position to ignore this potential?
Source: Fox Business News
This is my puppy Henna. She is 8 months old and having her has been a wonderful experience. I was affraid it was going to be tough all the training and avoiding her to chew my house, but against all I read and heard, it has been really easy. She only had a couple of "accidents" in the house when I got her at 12 weeks old. After 2 weeks she would come to me to let me know she needed to get outside. I took her to her kindergarden classes so she would get more socialized. After that we took some basic obedience classes in Newtown and she is doing great.
I couldn't take her with me to my appointments during the summer so I would leave her at her crate at home, and at the end of the day we would go and find new places to explore. She loves to swim and is doing really great.
Any other Lab lovers around? Where do you take your dog to swim? Any good dog parks in your area?
I have taken her to Southbury, Ridgefield, Redding and Norwalk so far and we are having fun.
This is the snapshot of today's real estate market in Norwalk, CT.
There are no properties under contract today, and compared to the snaphot taken back in December 15th, 2007, we can see a slight reduction in the number of active Single Family homes for sale listed in the MLS from 335 to 303 or about a 10% reduction.
In terms of median listing price, it went from $579,900 to $599,000, an increase of over 3%.
In other words, we can see a relative reduction in inventory and an increase in Median Listing Price that are taking about 10% more time on the market (144 DOM).
This is the Norwalk's Current Market Snapshot as of December 15, 2007.
While on November 2 we had 371 Single Family ACTIVE units with a Median Listing Price of $585,000 and an Average DOM of 103 days, today we have 335 SF units with a MLP of $579,900 and Avg. DOM of 114 days. This represents a reduction of less than 1% in terms of MLP.
The Median Listing Price for NEW LISTINGS of Single Family homes today is 18.08% lower than those listed on Nov. 02.
Single Family homes in Norwalk today UNDER CONTRACT have a Median Listing Price of 15.34% lower than the MLP presented by those Under Contract as of Nov. 02.
Single Family homes in Norwalk were sold in November 2007 for a median selling price of 2.70% more than in November 2006 and 2.93% more than November 2005. On the other hand, Condos have seen their median Selling Price decreased by 3.71% between November 2007 and one year before, and by 5.25% between November 2007 and November 2005.
Those Two-Family homes sold in November 2007 had a median Selling Price of $420,000; a 23.64% less than one year ago.
In the chart below, you can see how the number of units sold in November 2007 decreased compared to one and two years ago.
The Northeast, as defined by the Census Bureau, includes Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.
According to the National Association of Realtors report the Northeast is facing the current real estate bump better than other areas of the country.
It also mentions that prices in the Northeast showed an increase of 1.3% compared to a year ago, resulting in the sixth straight month of appreciation. Home prices nationwide declined 5.1% in October compared to October, 2006. The South dropped 6.7%; the West, 6.9%; and the Midwest, 1.6%.
The Northeast's gain follows five straight months of higher prices on a year-over-year basis, including a 0.2% rise in September to a 6.4% bump in July.
According to Lawrence Yun, NAR's Chief Economist, "For the Northeast, the worst is already past and the question is how fast the recovery will be," Yun said. "Will it be a strong recovery or weak recovery?"
Numbers show that Sales in the Northeast fell 12.6% in October compared to October 2006. while U.S. existing home sales fell 20.7% during the same period.
The Northeast has unique attributes that may keep it strong. Due to our current unfavorable exchange rates, the Northeast market remains an attractive investment for overseas buyers. The existence of many prestigious centers of higher learning and the presence of the most powerful financial corporations in the region will continue to contribute to a robust local market.
Many home sellers have resisted to reduce their asking prices in the north even in a market where demand has decreased, but if economic market conditions change, for example with job cuts or lower bonuses at the end of the year, their expectations will have to adjust.
As you can see, while comparing the snapshot taken on November 2nd and today, median listing price for ACTIVE condominiums in Norwalk has been reduced from $369,500 to $349.950. This is probably the reason why the percentage of condominiums with accepted offers went from 6.99% to 9.54%.
The Average Median Price came down from $353,210 to $336,317 an aprox. 5% reduction.
We can also notice that the percentage of units under contract (Sale Pending) decreased but the percentage of properties as "Continue to Show" increased.
This is a comparison between what the market looked like on November 2nd and what it looks today for the market of Single Family Properties in Norwalk.
There are small changes overall, however we see how the percentage of Active Listings raised from 75.87% to 84.13%, and those in the status Reduced Price came from 5.73% on November 2nd to 1.36% today.
Overalll, there are almost 10% less listings this week than 3 weeks ago.
In October 2002, buyers paid in average $554,325 or a median price of $450,000 for a Single Family Home with at least 1,500 Sq.Ft. and at least 3 bedrooms in Norwalk, CT.
Similar properties (in terms of Sq.Ft. and minimum number of bedrooms) have been sold for continuously higher price tags (median prices) year after year.
In October 2007, a house with similar characteristics was sold for a Median Price increase of 38% over those prices paid in October, 2002, but you would say, well it was the booble... however, the increase in Median Price from 2006 to 2007 was 29.86%; a great valuation even in what has been considered a "bad year".
As you can see prices have not come down at all. We do see an increase in average number of days on the market (47.14%), and the number of listings sold decreased from 43 in 2002 to 15 units sold in October, 2007.
That is a very much generalized perception, especially among those with hidden racial bias.
I am bringing two pieces to the forum. The first one is an article from University of Arizona. The second one is a picture from some anti-immigrant people in a town in Connecticut.
According to a report by the University of Arizona - UA's Udall Center for Studies in Public Policy, immigrants in Arizona generate more than three dollars in taxes for every two dollars they incur for government services such as education, health care, and law enforcement, for a net economic gain approaching one billion dollars.
Through an economic simulation model, researchers used fiscal costs and benefits of immigrants in Arizona's economy for 2004.
These are their findings:
Total state tax revenue attributable to immigrant workers = $2.4 billion aprox. ($860 million for naturalized citizens plus $1.5 billion for non-citizen, being a majority of them most likely undocumented)
Estimated Fiscal Costs = $1.4 Billion
That makes for a net positive impact of about $940 million.
The report estimates that immigrant workers generate about $44 billion, or 12 percent, of Arizona's economic output.
And the second one is a very offending and disgusting sample of what some opt to do to show their opinions. (One of them is a city clerk).
I believe economic reasons are not necessarily what make so many people angry against immigrants.
I will never understand so much hate.
Sorry! I needed to vent.
Why here?
Because I think many don't realize what is happening and some look other way when things like what is shown in the picture below happen.
I respect and enjoy Freedom of Speech. But some manifestations just cross the line between legal and criminal, between showing your opinion and following supremacist theories.
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