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Archive for December, 2008

Growth in the future?

How can you predict where the most active real estate growth is likely to take place in the future?

In a down market like this one, it’s not exactly a science. But the Wall Street Journal recently wrote about that subject. And one of their sources was William Frey, who studies demographics at the Brookings Institution in Washington, DC.

Frey says Florida is a good bet for a real estate rebound, because immigrants and young people are likely to move to areas that have lower housing costs and good employment prospects. Using that yardstick, Frey likes Florida, Georgia, the Carolinas, Tennessee, Virginia, Nevada, Arizona and some interior sections of California.

He DOESN’T like Michigan, Ohio, the Dakotas, Iowa, western Pennsylvania and upstate New York.

Tags: growth

Arts festival is this weekend in Palm Harbor

If you live in North Pinellas County, one of the local events you look forward to is the annual Fine Arts and Crafts Festival, which is held just before Christmas in Downtown Palm Harbor. This year the festival is Dec. 6 and 7 — this very weekend.

This year’s festival is the 34th annual, and it includes a juried art show, some really good food, and a number of special displays and activities. It’s a great place to find some unique Christmas gifts.

I’m planning on spending some time at the festival on Saturday, so look for some stories and photos right here on my blog.

If you want some additional information, visit the Palm Harbor Chamber of Commerce web site at http://www.palmharborcc.org/

Counters

Tags: art festival, Palm Harbor

Things could be worse…

Are you looking for the abolutely best rock-bottom price on a new home? Do you want to take advantage of the deflating real estate market? Here’s what you do:
Get in your car; drive across the Howard Franklin Bridge or the Courtney Campbell Causeway until you get to Tampa; head for the airport; get on a westbound flight; and don’t stop until you get to Phoenix, Las Vegas or San Francisco.
THAT’S where the real deals are.
According to the Standard & Poor Case Shiller home price index, western housing markets are where the real market collapses are taking place.
According to the index, home prices in the Tampa Bay area declined 18.5 percent between September 2007 and September 2008. That’s a lot, but compare that number to these:

• Phoenix: 31.9 percent
• Las Vegas: 31.3 percent
• San Franciso: 29.5 percent
• Miami: 28.4 percent
• San Diego: 26.3 percent

The national average is 16.6 percent, not really that far away from the Tampa Bay decline. So we should count ourselves lucky. I guess.

Counters

Tags: mortgages