Good News for Buyers - Bad News for Stabilization? - 08/25/09 10:11 AM
According to Senate Majority Leader Harry Reid of Nevada an extension of the $8,000 first-time-buyer tax credit is something that, politically anyway, can (and will?) be done. Additionally, by 'extension' he refers to extending the program beyond its current expiration date of November 30th, and extending the tax credit to all hombuyers, not just first timers.
While an extension of the tax-credit would be great news for buyers who are just now entering the market and could use more time to shop around, an extension also prolongs the unnatural state present in the current housing market. Currently, sales are being artificially … (2 comments)

A Sliver of Sunshine on the Horizon for Residential Real Estate? - 08/24/09 02:56 PM
According to the National Association of Realtors home existing sales shot up substantially in July - by 7.2% over June. This was the largest month-over-month gain since the index began in 1999. This also sets a record by being the first time since November 2005 that home sales volume is up year-over-year, establishing a solid trend and indicating that this could be more than just a random increase month-over-month.
While home sales volumes are up, median prices continue to fall nationally, down 15.1% year-over-year and 2% from June to July. This indicates that most of the increase in sales volume continues … (0 comments)

$8,000 First Time Buyer Tax Credit Expires Soon! - 08/17/09 09:41 AM
The $8,000 tax credit for first-time homebuyers ends soon! You must close on your home purchase before 12/1/09 to be eligible, so if you're considering taking advantage of this great program getting started now is essential. Check out this video for more info and contact me if you'd like to get started on the home-buying process!
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A Simple, Good Idea - Condo Association buys up Foreclosed Units - 08/11/09 09:02 AM
A condo association in Chicago has begun an effort to buy up the vacant, foreclosed units in its condominium complex. At least 12 of the Shoreline Towers Condominiums' 378 units are in foreclosure and the condominium association has arranged a $2.5MM line of credit to allow it to purchase the units and then rent them out to recapture monthly condo fees and put warm-bodies in the units.
This seems like an obvious and simple way to deal with what is becoming a widespread problem, namely condo associations missing out on big chunks of funding from non-dues-paying, abandoned units. The condo owners … (0 comments)

Opportunities for Creative Redevelopers with Deep Pockets - 08/10/09 02:48 PM
Looking for a BIG real estate redevelopment project that gives you a chance to be very creative and will put all your spare change to work? Look no further than your friendly US Postal Service. The USPS is selling its 2.7MM square foot central post office in Chicago and for whoever ends up buying it this building will be a signature project (let's hope it's a memorable project in a good way and not a white elephant in the making). Over the past decade numerous uses for the massive building have been proposed but none have worked out so the postal … (0 comments)

 
James Yoakum, SFR (US Spaces, Inc.)

James Yoakum, SFR

Philadelphia, PA

More about me…

US Spaces, Inc.

Address: 2043 Locust Street, Philadelphia, PA, 19103

Office Phone: (215) 829-8850

Cell Phone: (267) 496-7739

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Observations from my work in the wide world of real estate with a frequent focus on the Philadelphia market.


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