REBarCamp Virginia Beach

I'll be sharing information and learning from my peers later this week at ReBarCamp Virginia Beach.

ReBarCamps are a phenomena that have swept the real estate industry this year after the initial event in San Francisco held in July 2008. They are "Un-Conferences" where the agenda is created the morning of the event by the participants. This year saw these volunteer driven events spring up in New York, Portland, Phoenix, Philadelphia, Fredricksburg, Denver, Los Angeles, Charlotte, Orange County, and Boston, with events still to come in Lynchburg, Columbus, and Miami.

If you haven't been to one, you ought to try to get there - Its free, its fun and its a great place to learn.

Real Estate Technology from Philadelphia to Los Angeles

Image by reeltor99 via Flickr

Ok, so it looks like I'm hard at work writing this blog for your pleasure, but I'm actually on the way to Philadelphia International Airport (PHL) to catch my flight to Los Angeles (LAX). Though the weather is probably warmer there than here (I'm in Philadelphia writing this earlier this week), the weather is not why I'm going.

Tomorrow is REBarCamp Los Angeles, (actually being held in lovely Pasadena) another one of the many ReBarCamps which have been springing up across the country.

ReBarCamp is

an ad-hoc gathering born from the desire for people to share and learn in an open environment. It is an intense event with discussions, demos, and interaction from attendees.

I had the pleasure of attending the very first ReBarCamp last July in San Francisco just prior to the Inman Connect event. It was boisterous, friendly and educational. The camaraderie was intense, as were a number of the sessions.

This year, the REBar Camps have really taken off, with events being held in New York and Virginia and more Camps scheduled all over the country, in fact yesterday I visited sites for REBarCamp Philadelphia which will be held on May 27th at Greater Philadelphia Association of REALTORS, located at 1341 N. Delaware Ave. - Suite 200 - Philadelphia, PA (just north of Penn Treaty Park where William Penn signed his treaty with the local native Americans).

I know that I have enjoyed the experience and increased my knowledge every time I have participated in an RE Bar Camp, and I think almost anyone will. And if I don't see you tonight at the welcome for ReBarCamp LA, then I hope I'll see you in Philly on May 27th!

Buying a House in Philadelphia becomes a "No Brainer"

Image via Wikipedia

In a recent article , talking bout the national real estate market (a real oxymoron since there is no "nationl" real estate market) the Realty Times staff quoted the National Association Realtors,

Buyer are still hesitating on whether to enter to market, but the National Association of Realtors estimates "the impact of the stimulus package and lower interest rates on the housing market to be about 900,000 additional home sales in 2009 compared to conditions before the stimulus package."

Though the stimulus package makes buying a home attractive everywhere in the country, in a market like ours, the impact for homebuyers is even greater than it may be in areas like Washington DC, Los Angeles, San Diego & Manhattan where the spike in prices was very high, and the price reductions over the past two years have been so large.

In a market like Philadelphia, the impact of the stimulus is even greater. A $250,000 property here can be a pretty nice property. And a buyer using an FHA mortgage with a 3% down payment, essentially recieves their down payment back from the stimulus package $8,000 tax credit. If thy ask the buyer for a 6% seller assist with their closing costs, they can purchase the home with little or no cash out of their pocket. In normal times a pretty good deal. In a market that has seen limited price reductions in the past 2 years (only an average of 3% from the highest point of the real estate boom) it becomes even more attractive. After all that price stability means that your long term financial benefits are pretty much "money in the bank" . Combine our moderate prices with low interest rates, and an attractive deal becomes even more of a no-brainer.

So if you can buy a home, now is the time to do it. If you can't buy a home, now is the time to find out what you need to do so that you will be able to do so soon. Good Luck and Hapy House Hunting.