Each week, Stephanie and I post a few random thoughts that came up throughout the week. We encourage you to share your own thoughts or remark on our thoughts in a comment below.
1. Christmas Cards - Are the number of Christmas Cards you receive another social barometer similar to the 
number of friends you have on Facebook (thesomersteam) or followers on Twitter (thesomersteam)?I always get a little sad around Christmas as the majority of Christmas Cards I receive are from people looking for my business or to retain my business such as my insurance agents and dentist. Are Christmas cards a social gauge in terms of your true friends ? Is the quantity of Christmas cards you receive any reflection in terms of how well liked you are or the number of true friends you have ? Does the amount of Christmas cards you receive determine the type of person you really are ? Back when I was a teaching I received a multitude of cards, from the children and their parents. Like receiving reciprical comments on a blog, I am realizing I should be sending out more Christmas cards ! Is it too late this year ? The big picture that even in this day of modern technology, there is still tremendous value of a personal note or card that comes through the mail.
2. FHA Relief for Condos - On December 7th, FHA announced updated condo requirements which are much looser than before. Now a condo must be 30 percent sold or under contractand the developer can still be in control of the association. Before you needed 75 percent soldand the condo association must have been in control of the condo association for over 1 year. The previous requirements basically ruled out every new or newer condo building in Philadelphia. So this could be huge news for developers and owners of condo buildings, Realtors looking to do more business, and a great opportunity for those buyers who are interested in these types of properties who could not get a loan to go through before !
3. Interest Rates- I expect interest rates to be substantially higher 4 to 5 years from now. This belief is also shared by many veteran and seasoned mortgage bankers. So if you are a home-buyer on the fence, this is an opportunity of your lifetime to take advantage of lifetime lows in interest rates. And the same goes for those folks who are in the position to do a REFI. The time is now !
Please share your thoughts in a comment below !
Feel free to subscribe to our blog or our monthly newsletter to stay up to date with our latest posts and information on the Philadelphia Real Estate Market. You can also sign up to receive the Philadelphia Real Estate Blog via email.
In our Florida markets we are seeing a condo Depression. It doesn't matter what the FHA does becucase in some spots there are more condos than people to live in them.
I have to agree with your points about where the interest rates are headed. . good post
Good news on condos...it was getting a little scarry there for awhile.....Thanks for the info
HelpfulHannah
I have stopped sending business Christmas cards for the exact reason you mention. It really feels like am looking for business and I don't want it to be that way.
I remember the "old time" Holiday cards where people actually took time to write you a small, personalized note. I try to send them this time of year to my friends, clients and family.
Christopher and Stephanie:
The FHA is interesting. I was just submitting 2 buildings to be approved.
Thanks for the heads up.
Richard
Just came from a post office. I enjoy the cards a lot. I hope they are not a spam :) .
Thanks for the FHA info.
and some people will be saying " I wish I took advantage of the lower rates. "
Hopefully the condo requirements will help sales for new buyers, and will allow people to "move up" from their current condo.