Apprasial Notes

Warren Group is reporting a big drop in August price compared to August last year in Massachusetts. I don't like the way they report these figures - I think most of the hit had been taken subject to changes due to the current financial market news. Also this figure doesn't factor in changes in housing size - I think new construction has dropped in numbers and in square footage and these tended to be the largest and most expensive homes.

http://www.thewarrengroup.com/portal/Solutions/PressReleases/tabid/190/newsid751/1321/Default.aspx

Interesting article about why what has happened with the markets is happening

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/22/AR2008092201922.html

The federal reserve is making billions available for loans and supplying cash to foreign banks as well to loosen credit.

http://news.yahoo.com/s/ap/20080929/ap_on_bi_ge/fed_credit_crisis_8;_ylt=Ap0GgcJ5O3lMq7xZ9iWyZFyOe8UF

news story style video regarding affects of stock market on real estate. Most of the data they site is before market woes so its is a little lipstick on a piggish but it shows things were improving. It is just me or has anyboby else noticed that the initial DJIA drop that everyone was so concerned about last week was the same value as of Mid-June 08 and nobody was jumping off a bridge then. Also, the market grew 22% since mid-2006 was that really realistic

http://realtytimes.com/

This may be a good option for banks trying to sell vacant homes or builder's selling new construction that isn't moving. It about staging the home - a franchise will come in and set up the house with furniture and decorations to present it to home buyers

http://realestate.aol.com/article/improve/_a/staging-twist-helps-vacant-homes-sell/20080922170309990001?ncid=AOLCOMMre00DYNLsec0002&icid=200100397x1210289414x1200601030

The Eagle tribune reports on a development seminar for the city. Response appears to be positive based on the article. I recently appraised a large apartment development and some of the ongoing projects in the city are very surprising.

http://www.eagletribune.com/punews/local_story_266015745.html

http://www.psnh.com/SharePDFs/ESHomeswithGEOQ_A.pdf

This link is a PDF from PSNH regarding rebates and incentive to Geothermal heating - There is a $3,500 tax incentive and up to $7,500 PSNH incentive for new construction homes

Geothermal heat has not taken off due to its link to air heat pump style systems and their initial up front costs. However, with average air conditioning and heating costs rising to prohibitive levels the return of investment is making these systems more than practical and nothing can be greener. Basically, these are heat pump systems that use the constant below ground temperature of the earth, typically around 55 degrees, instead of the air temperature. The following article claims heating and air conditioning cost of $500 per year for a 2,300 sq. ft. home. with installation costs around $23,000. 

http://www.treesfullofmoney.com/2008/07/heating-your-home-with-geothermal.html

Picture of house rebuilt after Hurricane Rita that survived Hurricane Ike - it was built to survive a Cat 5 hurricane - I bet the insurance companies are taking note of this photo.  Photo from AOL article

Office, Warehouse and Retail markets expecting 10 to 14% vacancy by next year

Multifamily market favorable due to home buyers staying on sideline

link to article:

http://www.realtor.org/press_room/news_releases/2008/commercial_real_estate_woes

The Realtors Online Magazine reported a 33% increase in mortgagte applications in the last week - this link will connect to the article

http://www.realtor.org/RMODaily.nsf/pages/News2008091703?OpenDocument