housing market: 10 Predictions for 2014
- 01/01/14 04:20 AM
10 Predictions for 2014 from The Somers It is hard to believe how quickly 2013 went by ! We were super busy all year selling properties and have a feeling 2014 will be just as busy, it not more... So to get right at it, below are some of our 2014 Predictions:
1. The Philadelphia Real Estate Market will have its third straight year of appreciation. 2. The top appreciating zip-code will be 19122 (South Kensington). 3. The 10 year tax abatement will be altered by City Council to be a five years with a full abatement (years 1 … (2 comments)
In the past, I would be upset when a current tenant would call and say they were leaving one of our investment properties that we owned. I would be concerned that the rental amount might go down and even worse it might take a month or two to rent it out. There is nothing worse than having a vacancy (or two) as a property owner! However, in the last 6 months, when a tenant has said they are leaving, no worries! In every single case, the property was rented out immediately, with multiple applications … (22 comments)
housing market: The Homebuying Chance of a Lifetime
- 05/04/12 11:24 PM
The Homebuying Chance of a Lifetime It always happens in every market, in the stock market, in business cycles and in the housing market where there are extreme movements to the upside and the downside. The extreme upside is the unsustainable bubble and the extreme downside is the fearful falling knife and doom and gloom. In simplicity, for the best profit the mantra is "buy low, sell high". The housing market adds many wrinkles besides the financial aspect because the home provides quality of life, a place to live and so many other factors besides just the pure financial decision. But … (7 comments)
housing market: Where Do Presidential Candidates Stand on Housing?
- 01/23/12 07:36 AM
Where does your favorite candidate stand on housing issues? This Zillow post breaks it down, from Obama's plan to eliminate Mortgage Interest Deduction for the "rich" to Romney's position that "the right course is to let the markets work." The graph, from Zillow:
[image via Zillow.com] … (0 comments)
housing market: 2012 Predictions from The Somers - Obama will be reelected President
- 12/26/11 12:44 AM
2012 Predictions from The Somers It is that time again to make bold predictions as 2012 is right around the corner! So let's just get right into it! 1. Barack Obama will be reelected as President of the United States. 2. Mitt Romney will be the GOP candidate. 3. The United States economy will see improvement each quarter in 2012 (which bodes well for the Obama prediction). 4. The turnaround story for 2012 is Housing. 5. Republicans will gain seats in the Senate and the House. 6. The Stock Market (all three indexes DOW, S&P and NASDAQ) will see double … (11 comments)
housing market: Occupy Philly - Ignorant Americans or Americans Against Ignorance and Greed?
- 10/09/11 03:32 AM
Occupy Philly - Ignorant Americans or Americans Against Ignorance and Greed? I originally had mixed feelings about Occupy Philly and Occupy Wall Street, or to be honest, I was negative about it. I mean I kept thinking to myself the protesters have it wrong, they should be protesting against Congress and Capitol Hill instead of big banks and corporations! So as usual, I am bantering on my Facebook and Twitter and have some threads that go 70 plus comments long with some very interesting discussion. It really gets me thinking - who are these "protesters" and who am I to say … (16 comments)
housing market: A Dramatic Decrease of Housing Inventory !
- 01/02/11 01:00 AM
A Dramatic Decrease of Housing Inventory ! In Philadelphia, in the last 4 days, 855 properties just went off the market ! Gone, just like that ! Was this from that last minute holiday shopping frenzy ? Government stimulus ? No... it was neither. It was expired listings that disappeared off of the market. Every month Realtors have listings that when do not sell, they expire. Many of these listing contracts are dated to expire at the end of the year which is why there is always such a higher amount of expired listings that go off the market December 31st. I wrote a blog in … (12 comments)
housing market: "It's the End of the World As We Know It..." or is it?
- 09/01/10 01:15 AM
REM sang it and now we are singing it too. "It's the end of the world as we know it." Of course, we are talking about the end of the Real Estate market. But hasn't that been the hit song sung by CNBC and the news headliners for the last 2 years? So what is the reason for the end of the world this time? Let's recap. On August 24th it certainly seemed as if the housing market was falling apart at the seams when the National Association of Realtors (NAR) announced the sales forecast for the 2010 year fell short. … (49 comments)
housing market: 5 Predictions for the Philadelphia Real Estate Market 2010: Step Aside Psychic TV Network !
- 01/20/10 11:46 PM
5 Predictions for the Philadelphia Real Estate Market 2010 Step Aside Psychic TV Network The Somers Team, RE/MAX Access, Northern Liberties 215-400-2600 I admit it. I love the Sy Fi Channel. I am riveted by the shows about the Clairvoyant Mom's and Ghost Hunting Graduates, and Multi dimensional Universes. I know that Predictions are better left to daytime TV's Montel Williams and Sylvia Brown but just for fun, Chris and I decided to put together a list of our 5 predictions for the Philadelphia Real Estate Market. We do not have any paranormal supernatural powers. We are more like the … (4 comments)
housing market: 5 Predictions for the Future of the 2010 Housing Market: 5 Suits Speak 5 Different Perspectives
- 01/17/10 11:52 PM
5 Predictions for the Future of the 2010 Housing Market 5 Suits Speak 5 Different Perspectives The Somers Team Remax Access (215) 400-2620 When I went with Chris to NYC, the Big Apple, to attend Real Estate Connect sponsored by Inman News, it came as no surprise to me that that the leaders in the housing industry were all men and of course they were all wearing suits. Nice ones ! Very handsome. But what did take me by surprise was what these 5 men predicted for the future of the 2010 housing market. Below is a shot of the stage and our … (13 comments)
housing market: Random Thoughts for the Week - November 15, 2009
- 11/15/09 10:36 AM
Here are a couple of things that Stephanie and I were thinking about this week: 1. Smartphone revolution- I switched from a Blackberry to a Palm Pre this past weekend to have a touch screen. I have not been super happy with my blackberry, plus my wife Stephanie has been very happy with her Palm. These gadgets are just amazing. I think soon everyone (outside of business professionals) will have smartphones. So if you agree, own some Apple (APPL), Research in Motion (RIMM) or Palm (PALM) in your portfolio (disclosure - we own PALM) and I am sure we own the others in … (15 comments)
housing market: Housing Affordability Index is at Record High in 2009
- 06/13/09 11:08 AM
Housing Affordability Index is at Record High in 2009 What does that mean to you ? Simple ! This is probably the best time to purchase a property in your lifetime, especially if you are a first time homebuyer ! Even though interest rates have climbed, it is still a great time and historically those rates are still very low. We also believe that rates will continue to trend up over the course of the next year or two due to the risk of inflation. The signs are already there with the price of crude oil, gold, copper and all the … (11 comments)
housing market: Should I list now or wait until spring ?
- 12/13/08 11:28 PM
Should I list now or wait until spring ? I received a call yesterday from a consumer who said "Chris, I know it is not a great time to sell. Should I put my properties up now or wait until spring ? " . What is interesting is that I have found myself answering this question frequently and I have been seeing the same question on Trulia Voices and Zillow discussions. So, I figured it made sense to write about it as it relates to the Philadelphia real estate market. The first part of the answer depends on a seller's personal goals. If a … (97 comments)
housing market: Is buyer confidence, demand and traffic at record lows ?
- 11/11/08 12:36 AM
Bob Toll of Toll Brothers was quoted last night that as part of their preliminary outlook that "Buyer confidence, demand and traffic are at record lows." I have always respected Mr. Toll as he has been consistently upfront and direct in regards to the status of the housing market where other CEOs seemed to be in denial. However, this statement I am not too sure about. I think Mr. Toll is posturing for additional stimulus from the Federal Government, not in terms of a bailout, but to provide stimuli such as a larger tax credit for home purchasors and pressure for mortgage … (29 comments)
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Norris Point in Fishtown will 10 New Construction Town Homes with ground breaking underway. Here's a Sneek Peak:
10 Predictions for 2014 from The Somers
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