Comments on: National Real Estate Stories http://www.amybergquist.com/blog/2009/01/27/national-real-estate-stories/ News and views about real estate in Greater Hartford Thu, 09 Feb 2012 18:10:57 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Eric http://www.amybergquist.com/blog/2009/01/27/national-real-estate-stories/#comment-412 Eric Sun, 01 Feb 2009 04:18:53 +0000 http://www.amybergquist.com/blog/?p=1847#comment-412 30,000 more jobs will be lost by the end of Q1 2010 in the Hartford Metro area according to one of the leading forecasting firms. If so, the same number of workers will be employed here as in 1997, incidentally, the year the last housing cycle bottomed; a lost economic decade+. I don't know about "freefall" but the rates of job loss over the next 12-15 months will be double the rate of the US. Tough to see this as a stable, confidence enhancing situation for either jobs or house prices. 30,000 more jobs will be lost by the end of Q1 2010 in the Hartford Metro area according to one of the leading forecasting firms. If so, the same number of workers will be employed here as in 1997, incidentally, the year the last housing cycle bottomed; a lost economic decade+. I don’t know about “freefall” but the rates of job loss over the next 12-15 months will be double the rate of the US. Tough to see this as a stable, confidence enhancing situation for either jobs or house prices.

]]> By: Amy http://www.amybergquist.com/blog/2009/01/27/national-real-estate-stories/#comment-411 Amy Fri, 30 Jan 2009 13:38:08 +0000 http://www.amybergquist.com/blog/?p=1847#comment-411 I'd have to agree with your first comment. I find it interesting that there are several communities built in the area that are on severely sloping lots, so they essentially have no usable yard and the driveways are mini-switchbacks. I actually just comped one for a market analysis on a different home Tuesday. The comparison house has been on the market for 6+ months, most of the reason being that buyers just can't get past the fact that the backyard drops off a cliff. And I have no idea how it is physically possible to mow the front yard... I’d have to agree with your first comment. I find it interesting that there are several communities built in the area that are on severely sloping lots, so they essentially have no usable yard and the driveways are mini-switchbacks. I actually just comped one for a market analysis on a different home Tuesday. The comparison house has been on the market for 6+ months, most of the reason being that buyers just can’t get past the fact that the backyard drops off a cliff. And I have no idea how it is physically possible to mow the front yard…

]]> By: Steve_ctmq http://www.amybergquist.com/blog/2009/01/27/national-real-estate-stories/#comment-410 Steve_ctmq Fri, 30 Jan 2009 13:04:20 +0000 http://www.amybergquist.com/blog/?p=1847#comment-410 "... Many Say Goodbye to McMansions. ... This would suggest that newer, larger, more expensive homes, which are often built at the outskirts of communities, would be most at risk of losing value." --- And I suggest this is a market coming back to reality. Most "McMansion" communities are hastily and shoddily built, with no regard for the topography of the land. Sewer pipes are often substandard, walls are paper thin, and roofing leaves a lot to be desired. Plus, they are almost universally ugly and wasteful for a myriad of reasons. They are the SUV's of houses. “… Many Say Goodbye to McMansions. … This would suggest that newer, larger, more expensive homes, which are often built at the outskirts of communities, would be most at risk of losing value.”

— And I suggest this is a market coming back to reality. Most “McMansion” communities are hastily and shoddily built, with no regard for the topography of the land. Sewer pipes are often substandard, walls are paper thin, and roofing leaves a lot to be desired.

Plus, they are almost universally ugly and wasteful for a myriad of reasons. They are the SUV’s of houses.

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