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November 8, 2007 - While the latest S&P/Case-Shiller home price statistics for 20 of the nation’s largest metro markets showed a 4.4 percent year-over-year decline, a closer examination of the data reveals that on average, these same markets appreciated in value by more than 50 percent over the past five years. ldquo;It’s important to keep things in perspective,” said Brian Catalde, president of the National Association of Home Builders (NAHB) and a home builder from El Segundo, Calif. “The current housing price correction is most pronounced in the once super-heated markets in California, Nevada, Florida and Arizona. In most other markets, price declines have been pretty modest.”

For example, in Chicago, home prices declined 1.3 percent between

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Have you seen everything that is going on along West 7th Street near Fort Worth’s Cultural District lately? Montgomery Plaza has nearly sold out of their 240 luxury condos, and has begun construction with move-in dates planned for early 2009.
So7 just broke ground on their retail/commercial development (see the blog and rendering from last week) and are putting the finishing touches on their Arthouse. They have prices starting at $229,000 for a large one bedroom with very reasonable home owner’s association dues. 
Just down the street Cypress Equities is still clearing out blocks of land for their sprawling development of mixed use buildings with retail, commercial and condos. Looking over their site plans and renderings is quite revealing. Let me know…
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We are hosting an exclusive viewing Friday night November 16th at the BRICKYARD.  Viewing will be from 7pm to 8.30pm. 

Building is a secured building so please if you are interested in coming to this event please RSVP to Danielle by calling 800.577.4919 x 718.

We will be serving a light snack and drinks!!

Additional Info
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As if the 100% 15year tax abatements for many of the new construction condo projects downtown weren’t enough, how about taking 1.5% of the prime interest rate?  Sound like a scam?  It's not.  Through cooperation with the city, National City Bank has been able to offer special rate financing in areas where the National City Community Development  Corporation has made a direct equity investment.  The NCHAMP mortgage, as it is called, is available for qualified buyers on many of the condos that I feature on this site.  

 

If you are starting to think that your buck may go a bit farther downtown, YOU ARE RIGHT!!! 

 

In a recent comparison that Scott Phillips Jr. of Cleveland City Living did, he shows that, with all else being equal, a person

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Well, buyers if you have been waiting for the right time to buy....it's here! The market has gotten so competitive that buyers are dropping price like crazy to get their properties sold. You should also know that if you have good credit 100% financing is still available to you. So, what are you waiting for?????
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McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 6.26 percent with an average 0.4 point for the week ending November 1, 2007, down from last week when it averaged 6.33 percent.  Last year at this time, the 30-year FRM averaged 6.31 percent.  The 30-year FRM has not been this low since the week ending May 17, 2007, when it averaged 6.21 percent.

The 15-year FRM this week averaged 5.91 percent with an average 0.4 point, down from last week when it averaged 5.99 percent.  A year ago, the 15-year FRM averaged 6.02 percent.  The 15-year FRM has not been this low since the week ending May 10, 2007, when it averaged 5.87 percent.

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During the transition period of 2006 and early 2007, home buyers adjusted their behavior to adapt to the new housing market environment. The 8th Annual California Association of REALTORS® (C.A.R.) Internet Versus Traditional Buyers Survey describes these changes among consumers in the real estate market, driven in part by the slowdown in the demand of housing, as well as by the influence that the Internet has on the real estate marketplace. 


KEY FINDINGS

• The share of Internet buyers has grown from 28 percent in 2000 to 72 percent in 2007, while the share of traditional buyers declined from 72 percent in 2000 to 28 percent in 2007. Growth in the use of the Internet in the home buying and selection process has been accelerated by the growth

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If you are like many Clevelanders who have felt, first hand, the inconvenience of trying to get around Euclid, or are just curious about what’s going on and when its going to be finished, this blogs for you.

The Euclid Corridor is responsible for the mess on Euclid.  The vision for the project began around 1998 and was originally projected to be finished sometime in 2005.  This obviously didn’t happen for a number of reasons but it looks like the finish line may finally be in sight. 

 

If things remain on track, this 200million dollar bus line will be completed at the end of 2008.  “Bus line” simply doesn’t do it justice though.

The Silver Line, as it has been dubbed will be the first of its kind in the nation.  The Bus Rapid

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We are excited to hear that, Axis, a new downtown San Jose’s luxery high rise condo complex, will open a presentation center this weekend beginning on Saturday, November 10. Its will not be a “sales” center but instead a "presentation center." The reason being that Axis won’t actually be taking reservations and deposits until early 2008, but a virtual tour, brochures and floorplans will all be available at the Axis presentation center starting November 10th.

If you are considering purchasing an Axis condo or any other downtown developments, be sure to talk with a realtor that understands purchasing new construction and purchasing in a common interest development. There is no cost to you the buyer for having a professional looking out for your interests.…
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If you've visited the restaurants on Magnolia Avenue, or driven down Rosedale, lately you know things are changing in the Near Southside (Fort Worth South). Not only are the hospitals expanding and improving, but there are more dining, shopping and living options then yesterday. I know many people have driven down Magnolia in recent months and seen the large sign at Magnolia and Henderson for a development including several thousand feet of retail/commercial space as well as even more "condo" style living on upper floors.
PD Development is planning a 5-story structure on the site with underground parking, first floor retail/commercial space and condos on floors two through five. PD is still in the conceptual phases but hopes to have renderings by the…
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