David Joslins (DJs) Rhythm of Real Estate

What Matters Now... Seth Godin & Friends with a few things to ponder

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Mon, 14 Dec 2009 14:11:25 -0600

The year end is always a time to reflect on the year that just flew by and the the upcoming year that will be here and gone just as quickly. There is nothing better than to have a little help with righting the ship with some things to think about. In a timely post by Seth Godin's FREE ebook, What Matters Now is being offered at no charge to help us along in this process. Seth has encouraged his readers to Tweet about it, email it, post it to your own website blog about it and whatever is necessary to try and get it in the hands of 5 million people, viral marketing at its best. I know I've done my share, Tweeted it, posted it on my Facebook page, Fan Page and now blogging it here on Active Rain.

Don't worry there is nothing to buy, no passwords, registration or roadblocks to get the ebook. There is no holier than thou proclamations, or being preached to. It is a compilation from various writers, bloggers and everyday Joe's sharing their words and thoughts.

Take from it what you will. I read through it once and will be going back several times as the writers perspectives are insightful and a great opportunity to excercise the machine between the ears.

Whether you enjoy it or not, I would be interested to hear what you think about it.

To download the ebook you can go here

Or if you want to read Seth Godin's blog post go here

All the best!

November 2009 Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Tue, 08 Dec 2009 10:59:52 -0600

The housing market in Delaware County...

• The number of units listed for sale Decreased a 37.2% over the number of units listed in October '09 and is UP 6.6% over the number of homes listed in November ‘08.

• The Average list price is DOWN 17.5% over October 2009 list price and is DOWN 9.5% over November 2008 average list price.

• The Average SOLD price is DOWN 4.8% over October 2009 which is the fourth consecutive decline. The year over year increase in the SOLD price, this year, November 2009 compared to November 2008: the SOLD Price is down 9.3%.

• The Average Days on Market INCREASED to 90 days, a 2.3% INCREASE over last month's 88 days on market average.

• November showed 587 homes sold in Delaware County compared to the 526 homes sold in October 2009, an increase of 10.4%.

‘Tis the season for the housing market to take a little nap. The number of homes typically decreases this time of year and they have. Lower number of listings will affect the supply and demand, which may help move the inventory currently on the market. Buyers continue to look for the deals and Seller must realize that they need not be insulted on low ball offers. As long as the homes are priced in line with the market values and desirablility, the homes will sell.

Life happens and so real estate, whether high or low, will continue to sell. It's all just part of how you look at it.

- DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties. This is a residential home sales report for single family homes valued between $1 and $9,999,000

October 2009 Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Tue, 08 Dec 2009 10:42:32 -0600

The housing market in Delaware County...

• The number of units listed for sale Decreased a 14.2% over the number of units listed in September '09 and is UP 4% over the number of homes listed in October ‘08.

• The Average list price is UP 6.2% over September 2009 list price and is DOWN 9.7% over October 2008 average list price.

• The Average SOLD price is DOWN .003% over September 2009 which is the third consecutive decline. The year over year increase in the SOLD price, this year, October 2009 compared to October 2008: the SOLD Price is down 5.9%.

• The Average Days on Market INCREASED to 88 days, a 16% INCREASE over last month's 73 days on market average.

• October showed 526 homes sold in Delaware County compared to the 439 homes sold in September 2009, an increase of 19.8%.

Product is being moved, but it takes time. It's taking longer to sell a home as the sold price slid a bit, even though the list price is up. I still believe that the end of year numbers will be uncharacteristically strong since the first time home buyers credit in coming to a close. So when the numbers seem to jump, please stay in your seat, it does not mean we are out of this slump, yet.

Life happens and so real estate, whether high or low, will continue to sell. It's all just part of how you look at it.

- DJ

September 2009 Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Wed, 04 Nov 2009 08:36:29 -0600

The September housing market statistics for Delaware County...

• The number of units listed for sale INCREASED a whopping 21.6% over the number of units listed in August '09 and is DOWN 6.1% over the number of homes listed in September ‘08.

• The Average list price is UP 2% over August 2009 list price and is DOWN 16% over September 2008 average list price.

• The Average SOLD price is DOWN 10% over August 2009 which is the second consecutive decline. The year over year increase in the SOLD price, this year, September 2009 compared to September 2008: the SOLD Price is down 9.8%.

• The Average Days on Market DECREASED to 73 days, a 5.5% DECREASE over last month's 77 days on market average.

• September showed 421 homes sold in Delaware County compared to the 510 homes sold in August 2009, a decrease of 17.5%.

Read these stats as you wish, because listening to the national media will only confuse us in this local market place. The number of homes for sale increased as did the average list price while the days on market decreased, which are all positive for home sellers but the buyers are still getting some good deals out there as the actual sold prices have declined for a second straight month and are still lower than last year. Although the national association of Realtors® reported that existing home sales jumped up nationally the local residential sales in Delaware County tell a different story.

I do believe that the October and November sales numbers may be uncharacteristically strong since the first time home buyers credit is coming to a close and all of those home sales need to be completed by December 1, 2009. So when the numbers seem to jump, please stay in your seat, it does not mean we are out of this slump, yet.

Life happens and so real estate, whether high or low, will continue to sell. It's all just part of how you look at it.

- DJ

Auuuugust 2009 Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Fri, 11 Sep 2009 11:42:05 -0500

The housing market in Delaware County...

• The number of units listed for sale decreased 8.8% over the number of units listed in July '09 and is down 3.7% over the number of homes listed in August ‘08.

• The Average list price is DOWN 2.3% over July 2009 list price and is down just a smidge 0.8% over August 2008 average list price.

• The Average SOLDprice is down 7.5% over July 2009 which is the first decrease in 4 months. The year over year increase in the SOLD price, this year, August 2009 compared to August 2008: the SOLD Price is down 8.8%.

• The Average Days on Market decreased to 77 days, a 12.5% decrease over last month's 88 days on market average.

• August showed 501 homes sold in Delaware County over the 554 homes sold in July 2009, a decrease of 9.6%.

School's back in session and that typically means that the housing stats fall off a little. The national news has been a little better and Delaware County as a whole is still a good market with less than double digit losses (and/or gains) in most of the important categories. I am still standing behind my feelings that we will continue to see a rise in the homes sold in Delaware County simply because of the first time home buyers tax credit. But note, in my opinion, this infusion into to the housing market may be giving off some false hope to a total housing rebound.

Don't forget... You must identify and settle on your new home BEFORE DECEMBER 1, 2009 to be eligible. And since the home buying process does not happen overnight you better be in the game NOW to have a shot with this program. This means we are approaching the time for first time home buyers to step up and buy their first home or lose that precious tax credit!

Life happens and so real estate, whether high or low, will continue to sell. It's all just part of how you look at it. - DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

July 2009 Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Mon, 24 Aug 2009 09:14:42 -0500

The housing market in Delaware County...

• The number of units listed for sale increased 7.7% over the number of units listed in June '09 and is down 16% over the number of homes listed in July ‘08.

• The Average list price is DOWN 3.8% over June 2009 list price and is down 2.7% over July 2008 average list price.

• The Average SOLD price is up 7.2% over June 2009 which is the third consecutive increase. The year over year increase in the SOLD price, this year, July 2009 compared to July 2008: the SOLD Price is down 5.7%.

• The Average Days on Market increased to 88 days, an 8% increase over last month's 81 days on market average.

• July showed 550 homes sold in Delaware County over the 563 homes sold in June 2009, a decrease of 2%.

Don't go thinking we are out of the housing slump yet! Much like the Cash for Clunkers program is giving the auto industry a false sense of hope, the first time home buyers program has helped stimulate sales but has not corrected the whole fiasco. I am still standing behind my feelings that we will continue to see a rise in the homes sold in Delaware county as we near the critical "first time home buyers tax credit" deadline but that this infusion into to the housing market may be giving off some false hope to a rebound.

NOTE: You must identify and settle on your new home BEFORE DECEMBER 1, 2009 to be eligible. And since the home buying process does not happen overnight you better be in the game NOW to have a shot with this program. This means we are approaching the time for first time home buyers to step up and buy their first home or lose that precious tax credit!

Life happens and so real estate, whether high or low, will continue to sell. It's all just part of how you look at it.

- DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

June 2009 Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Mon, 20 Jul 2009 16:16:29 -0500

The housing market in Delaware County...

• The number of units listed for sale dropped 12% over the number of units listed in May '09 and is down 27% over the number of homes listed in June ‘08.

• The Average list price is DOWN 15% over May 2009 list price and is up 2% over June 2008 average list price.

• The Average SOLD price is up 7.77% (had to go for the lucky 7's) over May 2009. The year over year increase in the SOLD price, this year, June 2009 compared to June 2008: the SOLD Price is down 10% a little bit of a hit to the mid section.

• The Average Days on Market decreased to 82 days, a 12% decrease over last month's 93 days on market average.

• June showed 560 homes sold in Delaware County over the 396 homes sold in May 2009.

SO what do I think about the market? Listings are down and days on the market are down which means people are choosing to stay put in our area. A little bit less to choose from on the buyers side, at a lower price with less time to think about the purchase as homes are selling a bit faster. Adjustment to this crazy market is a tough thing for the buyers, just when they thought they had more time, poof the home is gone. I predict that we will continue to see a rise in the homes sold in Delaware county as we near the critical "first time home buyers tax credit" deadline.

Don't forget about that. You must identify and settle on your new home BEFROE DECEMBER 1, 2009 to be eligible. And since the home buying process does not happen overnight you better be in the game at least 60 to 90 days before December 1 to even have a shot. This means we are approaching the time for first time home buyers to step up and buy their first home or lose that precious tax credit!

Life happens and so real estate, whether high or low, will continue to sell. It's all just part of how you look at it.

- DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

May 2009 Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Thu, 11 Jun 2009 13:01:46 -0500

The housing market in Delaware County...

• The number of units listed for sale dropped 15% over the number of units listed in April '09 and is down 20% over the number of homes listed in May ‘08.

• The Average list price is up .008% over April 2009 list price and is up 11% over May 2008 average list price.

• The Average SOLD price is up 7% over April 2009. The year over year increase in the SOLD price, this year, May 2009 compared to May 2008: the SOLD Price is down 5%.

• The Average Days on Market decreased to 93 days, a 7% decrease over last month's 99 days on market average.

• May showed 391 homes sold in Delaware County over the 355 homes sold in April 2009.

SO what do I think about the market? Listings are down and days on the market are down which means a little bit less to choose from on the buyers side, which also may account for the slight increase in sold prices. So it is a classic case of supply and demand, as the inventory reduces the pricing increases. Don't get too crazy on me though, this is in no way a turning point in the market, it is going to be like this for a few more months as we teeter back and forth adjusting to the public perception of the economic state we are in.

Life happens and so real estate, whether high or low, will continue to sell. Its all just part of how you look at it.

- DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

April 2009 Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Mon, 18 May 2009 09:21:34 -0500

The housing market in Delaware County...

• The number of units listed for sale took a step upward 9% over the number of units listed in March '09 but is still down 19% over the number of homes listed in April 2008.

• The Average list price is up about 18.5% over March 2009 list price and is up 11% over March of 2008 average list price.

• The Average SOLD price is down 3.5% over March 2009. The year over year increase in the SOLD price, this year, April 2009 compared to April 2008: the SOLD Price is down 11%.

• The Average Days on Market increased to 99 days, a 2% increase over last month's 97 days on market average.

• April showed 352 homes sold in Delaware County over the 332 homes sold in March 2009.

Experts still predict that it is going to get worse before it gets better but I have to slightly disagree when it comes to Delaware County. Yes, the real estate market is still struggling and people find their way around a tighter budget but Delco still has a lot to offer the Greater Philadelphia area and will continue to slightly fluctuate on its roller coaster. The numbers on average list price rising will not be realized in the sold prices for the next few months. But let's face it, if the sales numbers were predictable there would be a whole lot more people in the real estate business. So we sit here and analyze the market the best we can using our numbers, year over year and month to month to track the trend. And right now it looks a lot like the Pocono mountains, with many peaks and valley's.

First time home buyers should forge ahead and buy an affordable home. Work within your budget, there is no need to over extend yourself, isn't that what has played a huge part in this economic downturn? Be reasonable and make sure you are in a good comfortable position now so that you are not house poor in 6 months. Use the first time buyers credit to your advantage and be on the lookout for a slight change, where you may actually be able to apply that credit to your purchase sooner than waiting for the tax refund.

- DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

March 2009 Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Wed, 22 Apr 2009 10:10:45 -0500

The housing market in Delaware County...

• The number of units listed for sale marched upward 17% over the number of units listed in February '09 but is still down 15% over the number of homes listed in March 2008.

• The Average list price is down 11% over February 2009 list price but is up 7% over the January '09 and up 3% over March of 2008 average list price.

• The Average SOLD price is down 0.5% over February 2009. The year over year increase in the SOLD price, this year, March 2009 compared to March 2008: the SOLD Price is up 2.8%.

• The Average Days on Market decreased to 97 days, a 7% decrease over last month's 105 days on market average.

• March 2009 marks the first decrease in days on market in over 7 months.

Marching Forward? Yes, the real estate market is starting to get a little warm as Spring time is upon us. Let us not look past the numbers though. Mr./Ms. Seller it is still going to take a little time to sell your home BUT if you come up with the right recipe of list price, property condition and a good location you are sure to attract a buyer with a rather healthy appetite quickly. And to our buyer friends out there it is safe to say if you are actively looking for a home, don't hesitate. The good one's always go fast as long as they have the recipe for success. Now, I‘m hungry.

- DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

February 2009 Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Mon, 23 Mar 2009 14:04:23 -0500

The housing market in Delaware County...

The "House" saw it's shadow and woke out of a deep sleep. The number of units listed for sale peaked above ground and rose 15% over the number of units listed in January '09. Even with the rise in listings is up the units listed for sale still down 20% over the number of homes listed in February 2008.
The Average list price is up just over 4% over February '08 list price and is up 17% over the January '08 average list price.
The Average SOLD price is down 3% over January ‘09. The year over year increase in the SOLD price, this year, February ‘09 compared to February '08: the SOLD Price is down 8%.
The Average Days on Market increased to 105 days, an 18% increase over last month's 87 days on market average. February ‘09 81 days on market is up 23% over February 2008 days on market average.

Heating Up? Although the numbers seem to be down the buyer activity levels are high and homes in Delco are selling. Buyers have the $8000 stimulus package tax credit on their minds and it has seemed to have positive impact thus far on activity. Buyers only have until December 1, 2009 to take advantage of the tax break unless an extension is granted.

Home Sellers its gut check time. Buyers are coming in to almost every offer situation with a seller's assist - this is a request from the buyer asking the seller to apply some of the purchase price money to pay for the buyers closing costs. Buyers are being aggressive with their offers and looking to get the best deal possible so they are ready to negotiate the sale price. Be sure to pick your bottom line, discuss your plan with your realtor and come to the understanding of what you market / neighborhood pricing is before you dig your heals in for the negotiating battle. Offers may come in low, they are offers and you can and should counter them, even if at full price, it's a start to the negotiating process.

So yes, the real estate market is starting to get a little warm as Spring time is upon us.

- DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

January 2009 Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Mon, 23 Mar 2009 10:56:46 -0500

The housing market in Delaware County...

The number of units listed for sale dropped like a cinder block through a paper bag, down 48.8% over the number of units listed in January '08. Oddly enough the units listed for sale are up 61% over the number of homes listed in December 2008.
The Average list price is down just over 15% over December '08 list price and is down 25.6% over the January '08 average list price.
The Average SOLD price is down 1.8% over December ‘08. The year over year increase in the SOLD price, this year, January ‘09 compared to January '08: the SOLD Price is down 8.9%.
The Average Days on Market increased to 87 days, a 10.1% increase over last month's 79 days on market average. January ‘08 87 days on market is up 25% over January 2008 66 days on market average.
The adjusted home sales for 2008 - 5369 houses sold in Delaware County in 2008

The housing market continues on a wild ride and for the most part people have no idea what to do. New home buyers will continue to enter into the market and account for a good bit of the purchasing, while they may still continue to face lending issues.

Sellers who are under water, upside down or facing foreclosure will see no alternatives for a while, unless somehow some way they can negotiate with their banks to keep them a float. Cash based Investors are methodically buying homes well below market and continuing to build portfolios for the future. Good news is that some major banks have decided to put a halt on Foreclosure proceedings at least until March. Rental units are becoming harder and harder to find, so right now investors are in a great position!

- DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

Decemblah housing statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Thu, 15 Jan 2009 09:51:10 -0600

I'm just going to cut to the chase. The housing market in Delaware County...

The number of units listed for sale continues to drop, down 27.8% over the number of units listed in November '08. Listings are also down 7.2% over the number of homes listed in December 2007. September had 929 homes listed for sale, December had 388 homes listed for sale- a drop of 39.4%.
The Average list price is down just about 8.9.9% over November '08 list price and is down 20.6% over the December '07 average list price.
The Average SOLD price is down 1.8% over November ‘08. The year over year increase in the SOLD price, this year, December ‘08 compared to December '07: the SOLD Price is down 9.6%.
The Average Days on Market increased to 78 days, a 2.6% increase over last month's 76 days on market. December ‘08 78 days on market is up 16.4% over December 2007 66 days on market average.
There were 5150 houses sold in Delaware County in 2008 and that is a 32% drop over the previous year.
December 2008 - There were 3827 active residential listings in Delaware County.

It's winter and we have just started to pass the traditional winter skid. So I ask WHERE ARE ALL THE BUYERS? Mortgage rates are as low if not lower than they have been in almost 10 years and still homes continue to sit on the market? Has consumer confidence been depleted so much that homes continue to sit on the market?

This is not a comfortable economy to be in for most people and consumer confidence is nowhere near the levels of 3 years ago so what are we to do?

As a Seller you need to have patience and analyze your current financial situation ask yourself...

• Do I really need to move

• Can you lower the price to make the house more attractive to buyers

• Does my house truly compete with the others on the market

• How long can I wait to sell my house

• Do you have enough money to maintain the house and for how long

• What is the absolute lowest price I can sell my house

Tough questions to ask yourself and sometimes the answers are even tougher.

Buyers really need to take a good look at what is out there on the market and determine if it is the right time to go out and buy, I say yes. Inventory is high and demand is low at this point, so as a buyer you might as well go and test the waters and see what you can afford. Since the market traditionally heats up as we move into February and March you will have a head start and know what you can afford and what you really want.

And by the way, First time home buyers note that there are special programs offered in many of the areas in Delaware county PA that allow for special incentives once you have completed some informational sessions. Well worth the time investment since some of the programs give you as much as $5000 toward your purchase. Be sure to check on what boroughs and municipalities have to offer before you start your home search, it is worth the phone call.

Happy buying and selling ...

- DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

November Housing Statistics - Seems Like Hibernation Time.

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Tue, 09 Dec 2008 13:03:25 -0600

Ho Ho Ho Hum...

October was glum and November is not much better, but, housing traditionally slows down in November. With all the holidays and decorating and get together's who is out in the market, quite frankly, people who really want or have to buy. Please don't think that's great news. What I mean is that for sellers there may be less inventory of the market for the buyers to chose from which helps your chances of selling.

So what about the housing market in Delaware County...

The number of units listed for sale is following the winter trend, down 28.9% over the number of units listed in October '08. Listings are also down 26.8% over the number of homes listed in October 2007. September had 929 homes listed for sale, November had 496 homes listed for sale- a drop of 46.7%.
The Average list price is down just about 19.9% over October '08 list price and is down 3.7% over the October '07 average list price.
The Average SOLD price is up a blip - 0.5% over October ‘08 which is the first increase in sold price in 4 months. The year over year increase in the SOLD price, this year, November ‘08 compared to November ‘07 the SOLD Price is up a hair - 0.3%. Hey, it's still an increase.
The Average Days on Market also decreased to 76 days finally showing a decrease after three straight increases, a 3.8% decrease over last month's 79 days on market average. November ‘08 76 days on market is up 17.2% over November 2007 63 days on market average.

It's winter, closing in on the traditional hibernation of the housing market. For those who need to sell, nerves are going to be a bit rattled but we can only price the properties at or below market value if they truly need to be moved. The competition is a plenty resulting from the lowly economic confidence and the traditional winter slow down, sellers may need to have a true gut check and figure out what is truly going to be their bottom line and price it to sell. Not always what you want to hear but the buyers are ALL looking for bargains.

- DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

October Housing Statistics for Delaware County, Yuck!

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Fri, 07 Nov 2008 16:58:35 -0600

OK the election is over and this is the last month where we watch politician tell us how bad things are in America. Unfortunately now everyone else's voice is going to be heard on the same subject. Unemployment filings are unprecedented, foreclosures on the rise, banks are tightening lending practices and go figure gas prices have plummeted to under $2.00 in some parts of this area. Nothing seems to be very stable.

So what about the housing market in Delaware County...

The number of units listed for sale is, are you ready for this down 26% over the number of units listed in September '08. October '08 listings are also down 31% over the number of homes listed in October 2007.
The Average list price is up just about 1.7% over September ‘08 and is up 7.7% over the October '07 average list price.
The Average SOLD price is down another 5.2% over September ‘08 which is the third straight month of decline. The year over year increase in the SOLD price, this year, October ‘08 compared to October ‘07 the SOLD Price is down 7.2%.
The Average Days on Market also increased to 79 days for the third straight month, a 7% increase over last months 75 days on market average. October 08 is up 25.4% over October 2007 days on market average of 59.

Ouch that hurt, Enough said

- DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

September Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Tue, 14 Oct 2008 10:15:02 -0500

Wall Street, Main Street, Milton Street who has time to worry about housing, right? Well amidst all of the headlines in our world, some good, some bad and some downright ugly, the housing market gently makes a push upward and has homeowners breathing a slight sigh of relief.

Check out the numbers...

The number of units listed for sale is up 27% over the number of units listed in August '08. September '08 listings are also down 4.2% over the number of homes listed in September 2007.
The Average list price is up just about 20% over August ‘08 and is up 7.8% over the September '07 average list price.
The Average SOLDprice is down 10.1% over August ‘08 which is another rather disruptive to news to homeowners. The consolation prize comes with a nice year over year increase in the SOLD price. This year, September 08 compared to September ‘07 the SOLD Price is up 7.5%.
The Average Days on Market also increased to 75 days, a 15% increase over last months 65 days on market average. September 08 is up 38% over September 2007 days on market average of 54.

So what's it all mean, Buy and Hold. The long term, more than one year, picture is much brighter. Average Sold prices in Delaware County are up 11.3% over Sept 2004 Sold home prices and has not decreased year over year during the same month for the last five years.

Kudos to the National Association of Realtors who has been pushing the positive housing news out nationally so both sides are heard. Our market locally is experience the same growth over the national average, 7.5% increase in home sold prices.

Over the next few monthly we will see a topsy turvy housing market as the banks get their act together, we elect a new administration to guide our nation through this and many Americans hunker down for "a long winters nap". Those who need to buy and sell will do so over the next few months and the buyers will be able to get great homes at good prices not over inflated but good fair market prices. There are some deals out there, but, you need to be willing to put alot of sweat equity into the property and good long term returns, leave the flipping to the pros as the profit margins are minimal and risky for the passive stary eyed investor.

- DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

Now Open For Business in Media Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Tue, 23 Sep 2008 09:33:46 -0500

My partners and I are proud to announce that we have opened a brand new independent real estate brokerage in Media PA. Grand Real Estate Services was part a vision of the partners - Gus Nazaridis, David Joslin and Alex Floratos - to become a full service real estate brokerage offering residential resale, investor relations, property management services and the full spectrum of residential and commercial real estate services to our ever growing client base. We are very excited about the new business venture and gaining the ability to offer our clients more of what they have been looking for feels incredible.

Our new office is located at 2 West Baltimore Avenue, Suite 310 in the heart of Media PA. If you would like to learn more about our offerings you can reach us by calling 610-565-9292 or visiting us periodically on the web at www.GrandRES.com as we continuously add features and info to the site. There will be more exciting news and information posted in the near future, but just so everyone knows, We are officially open for business!

August Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Wed, 17 Sep 2008 10:14:48 -0500

OK the heat got to me and I am late on getting this out -sorry. The good news is that there is so much going on right now in our real estate world, some good, some bad and some that we will put off for later discussion.

Let's get right to the nitty-gritty numbers...

The number of units listed for sale is down 20% over the number of units listed in July '08. August '08 listings are also down 25% over the number of homes listed in August 2007.
The Average list price is down just under 5% over July ‘08 and is down 2.5% over the August '07 average list price.
The Average SOLD price is down 3.3% over July ‘08 which is another not so welcome bit of news. The consolation prize comes with a slight increase in the SOLD price this year compared to August ‘07 which is up 2.6%.
The Average Days on Market also increased to 65 days, a 12% decrease over last months 58 days on market average and is up 20% over August 2007 days on market of 54.

Traditionally the market takes a little bit of a slide starting in July until October / November time frame. This July numbers were up but overall the trend is inline with previous years. Sit tight, wind down, and we'll see what the fall market brings.

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

July Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Fri, 08 Aug 2008 14:20:40 -0500

Hazy, hot and humid would be a good way to describe the housing market around here. Wait a minute did I say HOT? Don't look now but the average price of a home in Delaware County, PA is rising?

Yep, RISING! For the fourth straight month the average sold price of a home has risen. Delaware County is bucking the trend that the media has smeared all over the headlines. Listen, I'm not saying we are out of the woods but look at the numbers. For the most part they are up.

As the national media glorifies the big slide in the real estate market our area is still trying its hardest to remain steady and prosper. Let's look at the numbers and see just what's happening...

The number of units listed for sale is down 9.14% over the number of units listed in June '08. July '08 listings are also down about 14.2% over the number of homes listed in July 2007.
The Average list price is also up just under 1% over June ‘08 and is up 11% over the July '07 average list price.
The Average SOLDprice is up 3.4% over June ‘08 a nice surprise for the market and even better news is that the SOLD price this year compared to July of ‘07 is up 5.7%.
The Average Days on Market also decreased 57 days, a 15% decrease over last months 67 days on market average and is up 13% over July 2007 days on market of 51.

So, there are less of homes on the market in Delaware County than in recent months, demanding a reasonable sale price with a higher average sale price and less days on the market. Seems to me that the market is showing some signs of stability overall in our area.

I cannot stress enough that Delaware County is not following the rest of the country. Make sure you look at the big picture to get the true residential resale market statistics; it will help in understanding what type of market we are in. Delaware County seems to be holding its ground in this topsy-turvy market, know your numbers and you will be armed with the knowledge to make the decision that is right for you!

All the best
DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

June Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Wed, 09 Jul 2008 13:01:32 -0500

Summer time is here so what better time for flip flopping. It seems that Delaware County is giving mixed signals to the real estate market. The residential resale statistics are up and down. Since thee days on market has continued to increase dramatically over last year we really need to look at the big picture in order to see what is happening around Delco. As the national media toughts the big slide in the real estate market our area is still trying its hardest to remain steady. Let's look at the numbers and see whats happening...

The number of units listed for sale is down 2.05% over the number of units listed in May '08. June '08 listings are also down about 23% over the number of homes listed in June 2007.
The Average list price is also down just under 6% over May ‘08 but is up 6% over June '07 average list price.
The Average SOLD price is up 12% over May ‘08 a nice surprise for the market but a slight reality check is that the SOLD price this year compared to June of ‘07 is still down about 1%.
The Average Days on Market increased to 68 days, a 2% increase over last months 66 days on market average and is up 47% over June 2007 days on market of 46, ouch.

Buyers are definitely taking their time in making a decision for the purchase of their new home, which is frustrating to most sellers. Only time will tell but the numbers are indicating that overall sold prices are up 6% over this time last year which in not bad considering many national stories of the steep decline in real estate values. Make sure you look at the big picture to get the true residential resale market statistics; it will help in understanding what type of market we are in. Delaware County seems to be holding its ground in this topsy-turvy market, know your numbers and you will be armed with the knowledge to make the decision that is right for you!

All the best

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

May Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Tue, 10 Jun 2008 08:07:41 -0500

Delaware County has hit a bump in the road as the residential resale statistics do not look to strong. As the slide in the real estate market continues we take a look at the whole picture and see that although the market is trying its hardest to come back you can't fight the numbers. Home sellers may not like the statistics and may need to take a very close look at the market before considering the sale price of their home. The right strategy may just be able to buck the trend and get you a decent sale price in this down market. Here is what the TRENDMLS numbers are telling us about last month...

The number of units listed for sale is down 12.5% over the number of units listed in April '08. More staggering is that listings are down about 26% over the number of homes listed in May 2007.

The Average list price is also down about 2% over April ‘08 but up 8.6% over May '07 overall it may seem to be a nice annual increase showing some strength in pricing however the SOLD price over last year is sobering.

The Average SOLD price is down a blip at .003% over April 2008 and even more so discouraging is that the SOLD price from last year was down 16% over May '07.

The Average Days on Market decreased to 66 days, a 16% decrease. However, 66 days on market average is up 15.2% over May 2007 days on market of 56.

Not much of summary on this one other than the dog days of summer seem to have taken a bite out of the market early this year and consumer confidence is still sitting a bit low. With vacations and relaxation looming for most would be home buyers the outlook over the next few months is going to favor the buyers as inventory builds and selection is vast. Buyers get your shopping hats on, the inventory is high and according to the statistics the prices seem to be in your favor, happy house hunting.

See Ya!
DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

Active Rain Blogging. What is it really about?

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Mon, 12 May 2008 09:25:48 -0500

By loose definition, blogging is the keeping of online diary that is representative of ones personal thoughts, feelings, points of view, ideas, knowledge, etc, compiled and published on a web log a.k.a. blog.

For most independent business owners it is a means to highlight their offerings, whether products or services, in a more personalized approach to help them stand out from the competition. Your blog is supposed to be a reflection of you or who you are striving to be, some are extravagant displays with swooshing graphics, video, audio snip its and tightly woven design. Others are more get to the point, here is what I have to say plain blogs. Both are productive and just as effective because the audience out there is different.

So why blogging? It is just another medium used in today's society for individuals to express themselves. A blog allows you to share ideas, promote yourself, post pictures, video, write your opinion, share feelings and thoughts on any given subject. Regardless of whether or not people read it, and you hope people do, your blog is out there for all to read. Write what you feel and stand by what you write.

In the Active Rain community Real Estate professionals are encouraged to contribute to the content of the site by writing blog posts, making comments, posting pictures, promoting Active Rain through links and inviting others to join. If the blogger participates by contributing in some way to the site the blogger is rewarded with points. They are virtual points, not for the purchase of goods or services and not to be redeemed for any other prize. They are given to encourage active participation in a professional community that helps both those in the real estate business and consumers looking for professional input and advice.

Now yes, points are not always rewarded for posts and there are monitoring systems put in place to help regulate the content but overall if someone wants to send a Happy Mothers Day Message to the community, they can. They may not get points for it, but the blogger is entitled to post what they want. Is it about the points? NO. The points are just an incentive to actively participate. Consider them marketing "blog dollars", the more you contribute the better position your marketing blog dollars gets you on the site and even better is the possibility that your exposure to the internet search engines is increased. Small personal notes are always good to send and receive and always appreciated. Whether you are preparing a post to promote a listing, short article or a short note it still takes effort and discipline to actually sit down and do it, you need to make an effort to write it and submit it. So maybe points should be rewarded for a note but overall the points are the bonus. The active participation is what helps you the blogger build a better business practice by remaining active in the community.

The Active Rain community allows the real estate professionals to connect to each other somewhat anonymously and help each other in their quest to better themselves and their business practices in any way they choose. I am not sure how many other professional organizations have capitalized on building a community blogosphere such as Active Rain but I am sure it would be beneficial.

Kudos Active Rain and to all who help build this incredible real estate community!

all the best

this blog was inspired by a recent post by Leander McClain on "Is It Really About the Points"

April Housing Statistics for Delaware County Pennsylvania

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Tue, 06 May 2008 21:48:11 -0500

Overall the month to month statistics are beginning to rebound and patience may be the hottest commodity on the market this year. Delaware County has hit a slide over last year but your need to look at the whole picture to see that the market is trying its hardest to come back. Home sellers may not like the stats right now but sit tight. Here is what the TRENDMLS numbers are telling us about last month...

The number of units listed for sale is up, just over 12% over the number of units listed in March '08. However listings are down about 9% over the number of homes listed in April 2007.
The Average list price is up about 11% over March ‘08 and down 7.7% over April '07 a little troubling on the year-to-year sales but a nice month-to-month increase in pricing
The Average SOLD price is up 11.7% over March 2008 and still discouraging is that the SOLD price from last year was down 2.5% over April '07.
The Average Days on Market decreased to 76 days, a 2.6% decrease. However, 76 days on market average is up 33.9% over April 2007 days on market of 57.

This is the home buying and selling season and despite the low consumer confidence there were still more homes listed in April than in March so the home buyer inventory is out there. The numbers may still not be favorable for sellers and the market buyers will dictate what the home is worth and sellers need to be faced with the reality of having to accept a lower than expected sale price in this type of market. Patience is going to be needed by all involved in the real estate market as the fast and furious pace of years past is just that the past!

See Ya!

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

The secret to real estate success

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Wed, 09 Apr 2008 15:31:15 -0500

Are you getting flooded with how you can "conquer the market in your town", "list 10 homes this week" or "I have a buyer for you" emails? I'm not sure about how the rest of you out there feel, but we sure have a target on us right now. The "get rich quick" marketing message that I see on a day to day basis drive me crazy. I have yet to see one sustainable solution that would help me increase my business that actually made sense. How much would you pay for the secrets to real estate success, I don't really know.

I'm always looking for new ways to market my business and ways to increase my business. But these marketing messages and get rich programs targeting real estate agents in the a down market is predatory. Sound familiar?

What I would like to know is if anyone out there has used any of these training gurus that actually worked. Do you have a particular program that you highly recommend? I would love to hear about the success stories and the systems that you have used to increase your business.

All the best

Dave

Delaware County Pennsylvania housing trend update, or should I say downdate.

David F Joslin, Jr (Grand Real Estate Services, Media PA) — Mon, 07 Apr 2008 08:42:59 -0500

March Housing Market Update for Delaware County Pennsylvania

Consumer confidence is at an all time low. Job losses in March were the highest is years, topping 80,000. And this means is that the housing market is also feeling the lack of confidence as home buying in Delaware County Pennsylvania is feeling the crunch. Since last month Delaware County has taken a slide and home sellers may not like the stats. Here is what the TRENDMLS numbers are telling us about last month...

The number of units listed for sale is up, just under 11% over the number of units listed in February '08. However listings are down about 13% over the number of homes listed in March 2007.
The Average list price is down about 11% over February ‘08 and down 8.9% over March '07, a nice increase in pricing
The Average SOLD price however is down 12.5% over February 2007 and the discouraging news is that the SOLD price from last year was down 7.6% over March '07.
The Average Days on Market decreased to 78 days, a 2.5% decrease. However, the 78 days on market average is up 16.4% over March 2007 days on market of 67, so properties are sitting out there longer.

Until consumers gain confidence, the numbers may not be favorable for sellers. As we always proclaim the home is worth what the buyers are willing to pay. Not good news for the home sellers as they may need to have a greater amount of patience. The three big items for home owners to remember is price, location and condition. If they are all in line with the market competition you may need to sit tight and wait for the right buyer.

Happy Buying and Selling

See Ya!

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties