And the Good News Is...

November 20, 2008

It's getting to be more and more difficult to find good news on TV. Reporters seem to be reveling in stirring up as much "doom and gloom" news as they can – after all it's been proven that bad news sells better than good. Our addiction to news tickers and 24 hour coverage was solidified during horrific news events of the last decade. But there IS positive news to be found if you dig hard enough.

28 Metropolitan areas showed increases in median existing single-family home prices from the same quarter in 2007. Areas such as Elmira NY, Tulsa OK, Wichita KS and Urbana IL.

But even in areas where average home sales have dropped drastically, there is good news. Buyers who have been shut out of the home ownership market, are now finding that they can afford to buy. And they ARE buying. Three states where the ‘housing bubble' has burst are seeing some of the highest increases in sales. The largest sales gain during the third quarter was in Arizona, up 28.3 percent from the second quarter, followed by California which rose 28.1 percent and Nevada, up 26.2 percent. These areas have seen some of the strongest sales gains with some reports of multiple bidding.

And there's also good news for sellers. The typical seller purchased their home six years ago and is still experiencing net equity gains, even in today's depressed markets. The national increase in value since the third quarter of 2002 is 18.3 percent, which is a median gain of $31,000. Even with the current downward price distortion, 90 percent of metro areas are showing six-year price gains.

So while we are definitely in turbulent economic times, there is GOOD NEWS to be found if you look for it. Hopefully, some home buying incentives will be passed soon to stimulate even more home ownership. Lawrence Yun, the chief economist at the National Association of Realtors, said that, "A pattern of sharply higher sales in areas with large price declines is well established," Yun said. "Affordability conditions have consistently been a major factor in driving sales. Historically during recessions, buyers have responded to incentives and it's important for government to keep that in the forefront of stimulus decisions."

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Local Information for Servicing SE Michigan., MI

Latitude: 26.818239 -- Longitude: -80.063714

Other Area Cities: North Palm Beach Jupiter Palm Beach Gardens Palm Beach Riviera Beach West Palm Beach

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North Palm Beach was mangrove swamps and farm and ranch land until development occurred in the mid 1950s. The area to become North Palm Beach was punctuated only by Monet Road and Johnson Dairy Road to the east-west US 1 and Prosperity Farms Road to the north-south. Full scale development and incorporation as a village occurred nearly simultaneously in 1956, with extensive dredging creating waterfront cul-de-sacs, and the development of a new east-west artery, Lighthouse Drive connecting Old Dixie Highway and the newly aligned US - 1. US - 1 was widened and became the main office and civic corridor. Lake Park West Road was also extended from Old Dixie Highway to US 1 and was renamed Northlake Boulevard, becoming the village's main commercial corridor. Twin City Mall, an enclosed shopping center, opened in 1970 at the corner of Northlake Boulevard and US - 1 as Palm Beach County's second enclosed shopping mall. -- Source: Wikipedia.com

Florida 2000 Census Population Profile Map

	North Palm Beach	Florida	United States
Population	12,064	15,982,378	281,421,906
Median age	50.4	38.7	35.3
Median age for Male	47.9	37.3	34
Median age for Female	52.5	40.1	36.5
Households	6,196	6,337,929	105,480,101
Household population	12,057	15,593,433	273,643,273
Average household size	1.95	2.46	2.59
Families	3,327	4,210,760	71,787,347
Average family size	2.58	2.98	3.14
Housing units	7,325	7,302,947	115,904,641
Occupied units	6,196	6,337,929	105,480,101
Vacant units	1,129	965,018	10,424,540

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