Here some News Article that I think are interesting for housing/business in the Lehigh Valley.
Some Land Development News:
1. Lower Nazareth has approved a 54 acre site development for Industrial Developments International
Comments: This development comes with significant improvements required in regard to the reconstruction and widening of Hecktown Road.
Source: MCALL.com
2. Jaindl Development has submitted its Rutz Farm plans for Formal Review
Comments: I like the open space that will be added. In my opinion, this would not have been possible without the Overlay Ordinance that would have been enacted on the acreage. In general, I'd like to see local municipalities have more transparency in regard to zoning changes, simply posting on a website or newspaper does not seem to be an ideal way to discuss a zoning map.
Source MCALL.com
3. Jaindl Warehouse developement in Lower Macungie
Comments: This project is further proof that warehouse development is an attractive developement area for people in and outside of the area. It will be interesting to see if the roads will be made to withstand the extra traffic.
WFMZ.com
The Lehigh Valley Business Journal has some intriguing stories about the following:
1. Pennsylvania Venture Capital Inc, owned my Abe Atiyeh, is attempting to build a new Subidvision by the Fedex distribution center.
Reaction: Folks seem to have belief that the FedEX will bring development to the area.
2. Straight Arrow Inc. is a manufacturing company in Bethlehem that is moving to Fork Township. Will Ferrel uses their product a reference in Blades of Glory
Comments: This is a cool story that can show the impact of state financing initiatives, hopefully business booms for Straight Arrow.
Taxes:
1. It seems that Lehigh County will lower its tax rate.
2. In the Parkland School District, it seems that taxes will be going up.
Monday, October 27, 2014
September 2014 Update
Market Update:
The Lehigh Valley Market seems to be on a slow path to growth. The interest rates went down this month and this likely has a convincing correlation to the precipitous drop in oil prices.
1. Supply September 2014: Please Click here for the Chart
Most importantly, bank properties continue to make up less of the market place as compared to a year ago. 4.4 MSI vs 6 MSI MoM. This seems to be encouraging non-distressed sales, you know, normal homeowners, to put their properties on the market. It would be my guess that bank properties are likely seeing more multiple bid situations since their are less of them.
2. Lehigh Valley Association of Realtors: Please click here for the full report.
Reaction: Closed Sales are down, however, prices went up? I believe is this is due to distressed sales composing less of the market.
Here is a break down of each School District in the Lehigh Valley
3. Zillow Report -- click here for the full report
I like to show a report that is generated from outside of the Lehigh Valley Realtors. Zillow's listing sometimes differs from the MLS, so the information being processed is a little different.
Lehigh and Northampton County comprise the Lehigh Valley. I think the growth forecast Zillow has for each county is accurate in respect to its conservative spirit.
Negative Equity for each county is 19.9 % and 20.0 %
The Lehigh Valley Market seems to be on a slow path to growth. The interest rates went down this month and this likely has a convincing correlation to the precipitous drop in oil prices.
1. Supply September 2014: Please Click here for the Chart
Most importantly, bank properties continue to make up less of the market place as compared to a year ago. 4.4 MSI vs 6 MSI MoM. This seems to be encouraging non-distressed sales, you know, normal homeowners, to put their properties on the market. It would be my guess that bank properties are likely seeing more multiple bid situations since their are less of them.
2. Lehigh Valley Association of Realtors: Please click here for the full report.
Reaction: Closed Sales are down, however, prices went up? I believe is this is due to distressed sales composing less of the market.
Here is a break down of each School District in the Lehigh Valley
3. Zillow Report -- click here for the full report
I like to show a report that is generated from outside of the Lehigh Valley Realtors. Zillow's listing sometimes differs from the MLS, so the information being processed is a little different.
Negative Equity for each county is 19.9 % and 20.0 %
The Lehigh Valley is catching up to the National negative equity ratio. This is important because it means people will start to make money on their home when they go to sell. It is also nice because it psychology supports folks thinking about making upgrades to their home. The Lehigh Valley has made incremental but steady improvement in this area and it is nice to see folks continue to get more equity in their homes.
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