New Mobile Search of the MLS

I'm excited to announce that our company has partnered with Smarter Agent, the nation’s leader in mobile real estate technology, to provide mobile search capability to ALL of our clients! 

CENTURY 21 advantage Gold's custom mobile App allows consumers to search homes for sale anytime, anywhere - right from their cell phone! The App works on standard cell phones and smartphones across all mobile carriers. The public can download the app to their phone to view all homes for sale in Southeast Pennsylvania, South Jersye and Delaware - the region covered by Trend MLS. 

Now consumers will have easier access to property information no matter where they are or what they're doing, including rentals, and properties sorted by location using the GPS features of your phone. Whether driving, or walking around looking at properties, consumers have access to all of the MLS information on the homes for sale around you, with just one touch of a button on your cell phone.   Hit “Call to See” and you will be put right in touch with our call center where you can get even more information to assist you in your home search.

The App is free and easy to obtain.  Just text C21AG to 87778, and the application will be sent to your phone by text message.  Just click on it and the application downloads right away.

With all of us relying on our phones more and more for valuable information, I know our consumers will love this great new way to look for homes.  So don’t delay – start searching for your dream home TODAY!

Home Buyers are Coming Out !

A real estate trade group reported Tuesday that Pending Home Sales ticked higher in December 2008. A "pending home sale" is a home under contract to sell, but not yet closed.

The group positions Pending Home Sales report as a predictor of future activity, suggesting that home sales will spike 60 days hence.

This is good news for the economy.

However, despite the Pending Home Sales report's correlation to the actual number of homes sold in the future, that connection may not be the report's best use. This is because of what Pending Homes Sales doesn't measure.

Specifically not included in Pending Homes Sales are:

1. Sales of new construction homes
2. Sales of For Sale By Owner properties
3. 80 percent of non-surveyed MLS transactions

And, lastly, it should be noted that Pending Home Sales tracks contracts -- not closings -- and until a home is sold and closed, nothing has really happened in the economy. That's especially relevant in a market like this in which finding financing isn't always so easy.

Pending Home Sales still has its place, though, because it's a terrific look at the current buy-side demand for homes. Clearly, low mortgage rates and falling home prices are making an impact and this is why the December's Pending Home Sales report is so important. It's the third housing report this month that shows the demand for homes rising while the supply of homes falls.

The other two reports:

1. The number of "used" homes sold monthly is rising
2. The number of new homes being built are falling

This is good news for home sellers and for the economy. As the existing inventory shrinks the value of the remaining inventory stabilizes and then increases. nd in an area like Philadelphia, where the prices have not been dramatically reduced, the benefot is even greater. If housing is expected to lead the U.S. out of recession, the seeds for that recovery may have already been planted.

(Image courtesy: The Wall Street Journal)

Philadelphia's Housing Market OMG I'm their Expert!

Image via WikipediaLike everyone, I spend part of my day at the computer, reading news, looking at my emails, and deciding which of them to read.

Since I subscribe to a number of publications on-line, I have to pick and choose the ones that get my attention first. SO this morning, as I was reviewing that I looked at my RealtyTimes headlines to see a headline reading, "Hot Market: City of Brotherly Love Grows Jobs". Obviously, as the CEO of Philadelphia's largest Century 21 firm, this is news I can use, so I jump right on the link and start reading the article, figuring that here is additional information for our agents to share with potential buyers.

As I read the article the second paragraph jumps out at me;
Blogger and real estate broker Bill Lublin says, "In Philadelphia, our real estate market has seen some decline in the number of homes sold through the MLS this year, but a remarkable stability in price. Combined with the affordable interest rates available to buyers to day, our city is poised (according to Smart Money Magazine) for a housing recovery."

I'm crushed! How do I quote myself to my agents? But the article goes on the retrieve its value by quoting a Philadelphia Business Journal article quoting a Brookings Institution study. entitled "Recent Immigration to Philadelphia: Regional Change in a Re-Emerging Gateway". Gateway cities are defined as cities where there are substantial immigrant popultions, and this study showed that This article showed that there has been tremendous growth in immigrant population, providing data showing that 75 percent of Philadelphia's labor growth over the past 8 years came from our immigrant population.

The article went on to note that Philadelphia's job growth was the 6th largest in the country, and that our prices were relatively flat , with little decline since last year, bucking the national trend and providing additional security for Philadelphia area home buyers.

So in the final analysis,even if I am the expert they quoted, , the good news they reported had solid and substantial roots in common sense for Philadelphia's home buyers. What a relief!

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• Existing Housing Sales Stable!

Existing Housing Sales Stable!

In real estate, the term existing home refers to a "used" property; one that can't be classified as new construction.

The number of existing homes sold each month is tracked by the National Association of REALTORS. The report is often used as a gauge for the health of the real estate market nationwide.

In October, nearly 5 million existing homes sold across the U.S. This figure represents a slight drop from September's reading, and a equally slight drop from the October 2007 data.

But, October's Existing Home Sales figures marked the 14th straight month in which Existing Home Sales straddled 5-million units. This is a remarkable statistic because 14 months of anything is a pattern, not a blip. Despite what the news tells us, Americans are buying and selling real estate at a somewhat steady clip.

In Philadelphia, our real estate market has seen some decline in the number of homes sold through the MLS this year, but a remarkable stability in price. Combined with the affordable interest rates available to buyers to day, our city is poised (according to Smart Money Magazine) for a housing recovery. Smart buyers who can should be out there buying right now.

As we head into the Holiday Season, buyer activity should slow, reducing demand for homes. At the same time, however, widespread foreclosure moratoriums should reduce the number of homes available to buy. These forces should counter-act to help keep the market (and prices) in balance.

(Image courtesy: USA Today)