Decline in Lehigh Valley Housing Prices Continues: Median price...

Full story: The Morning Call

The pace of price erosion in the Lehigh Valley housing market accelerated in February, with median prices falling to $167,000, a 12.3 percent drop compared to a year ago, according to a report by Prudential ...
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41 - 52 of 52 Comments Last updated Dec 11, 2009
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Since: Feb 07

Paulsboro, NJ

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#43
Mar 17, 2009
 
JoisyGirl wrote:
<quoted text>
Pre 2000 levels for what region? I can attest to the fact that pre 2000 levels for where I lived were ten times as worse as around the year 2005, or more. Homes were WAY inflated in price from the early 90s & on. Maybe for this region of PA the housing market was where it should have been "pre 2000" but it sure wasn't like that everywhere else. I can remember in the early to mid 90s there were homes built 2 blocks away from me that STARTED at 1 mil.
The north Jersey market started inflating way before the local market here. I was referring to the valley pricing. In 2002 you could have bought a 3br twin in bethlehem for like $75-100k, and they still are asking $125-140 for the same house. So we still have a ways to go before we're back to where we truly belong. I'm sure you could do the same comparisons with the 4br 1/2 acre colonials in parkland and east penn and come to the same conclusion.

Since: Feb 07

Paulsboro, NJ

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#44
Mar 17, 2009
 
RODDY wrote:
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You are making a mistake. I have no interest in whether or not you buy (not employed in a housing related field).
Now is close to the optimal time to buy, and not just because of the incentives or low interest rates.
I know that it is hard to imagine with the prices of some goods stagnating or falling, but we will enter a period of mass inflation in the not too distant future due to all of the money being artificially pumped into the system by the government.
It won't take long for inflation to raise these prices right back up.
At one point I was very concerned about inflation as well. However it is obvious that our US dollar has actually gained in value because all of Europe, Russia, and Latin america are struggling too. I'm still not sure which force is going to win out, but I think that the inflation fears may have been exaggerated a bit.
STEELERSROCK

Emmaus, PA

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#45
Mar 17, 2009
 
http://thelastgoodidea.blogspot.com/2009/03/n...

Monday, March 16, 2009
NAR Continues to Amaze

Or perhaps I should say, the NAR continues to deceive?

NAR stooge, Walter Molony said,

"You are looking at the best affordability conditions since we have measurement back in 1970"
Am I missing something? Did prices drop 40% last night? Last time I looked, at best prices were in the 2004 neighborhood. Is there some even more unbelievable loan type out there that makes pay option ARMs look expensive?

Oh wait, read a little further, he picks one of the most deflated and over supplied markets in the country to apply his hyperbole to. Someone once told me that there were three kind of lies ... lies, damn lies and statistics.

Once again, we see the NAR behaving in an unscrupulous manor. Basically, they will put someone out there as an expert and have them say something positive about a market that is 90% lousy. They will say anything to help one more fool buy a house at an inflated price.

Based on the Mr. Molony's comments, I have to wonder why the NAR president, Charles McMillan is upset about potential changes to the mortgage interest deduction proposed by President Obama. In fact, I have to wonder why, if these homes are sooooooo affordable, why they aren't flying off the market. Please note, my tongue is placed firmly in my cheek. Perhaps we don't need Congress and the President to be bailing out foolishly over extended homeowners.

Once again, the NAR proves itself to be less trustworthy than my dog when I leave a hamburger unattended on the table.
STEELERSROCK

Emmaus, PA

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#46
Mar 17, 2009
 


Here's a great video from Peter Schiff. It aired in January 2009 and it's his predictions. It's more realistic than anything you'll get from the local rag.
Middle-Class hopeful

United States

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#47
Apr 14, 2009
 
Westside Homey wrote:
This forum is populated by right wing nutz who love to blame Obama for everything...get over it and get a life.
The minorities you fear moving into your neighborhoods will have to have great credit to get a mortgage these days and that means a well-paying stable job, educated and responsible at paying their bills on time. Your credit needs to be golden to even get a FHA mortgage and FHA is the only ones giving out mortgages. Their standards are high for the borrower and the house that the loan is for so most of the slums of A-town will not qualify for these mortgages.
A-town and the rest of the Valley would be smart to use HUD money for adaptive reuse of the run-down properties through out the valley.
Knocking minorities only shows your insecurities and lack of intelligence.
Right on! Well-said.
Mad Max

Allentown, PA

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#48
Apr 14, 2009
 
Modular homes are built to fall apart, I lived in one many years ago. The floors were sheets of particle board. One minor plumbing leak and you have to re-do the floors. I ended up moving to a brick house with hardwood floors built in 1935. When the windows are closed in this house you can easily sleep through thunderstorms and never know they passed over the house.
STEELERSROCK wrote:
And probably 75% of the new houses won't last 50 years. Crap construction shotty labor! They built most homes with 2 X 4's not even 2 X 6's. Modular homes are better built at 3/4 cost
Realtor

Emmaus, PA

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#49
Apr 26, 2009
 
WTF?

“Beyond all comprehension”

Since: Dec 06

The Moon

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#50
Apr 26, 2009
 
It's said that the house I bought in 2002 is worth about the same now .
I'm glad I didn't buy a few years ago during the bubble . I'm also glad I insisted on a fixed rate .

Since: Mar 07

AOL

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#51
Apr 27, 2009
 
STEELERSROCK wrote:
<quoted text>
You don't live in jersey anymore and that IS NOT PA! You people that come from jersey to pa well in case you didn't realize the past 100 years or so but IT'S ALWAYS BEEN CHEAPER IN THE LEHIGH VALLEY?
Again your un-intelligence prevails. When you make a statement like, "I've been saying this since 2005 that prices were completely inflated and prices will end up back to pre 2000 levels before this disaster is over." That is called a blanket statement, learn what it means smartasss. I responded to that blanket statement, and maybe you should direct those "200k" comments to people who actually did purchase new gigantic homes. My house has been here for 100 years on the same plot of land & cost us way under 100k. You're barking up the wrong tree, go find someone that fits your uneducated agenda. Doesn't matter if you last post on this topic was in March, I'm sure you're no more smarter by now.

Since: Mar 07

AOL

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#52
Apr 27, 2009
 

Judged:

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STEELERSROCK wrote:
PS JOISYGIRL
Here's a NJ/NY real estate blog that's been running for years now. Understand your debate before you open your mouth.
Welcome to PA!!!
:)
Now go home!
lol you know nothing from personal experience, you get your info from the educated work of others on affiliate websites. I'm so positive you're no more than 25. You're naive & don't even know it. I don't need to copy from others in order to prove somethingm unfortunately you do, in every forum you're in.
sinis supremis

Easton, PA

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#53
Dec 10, 2009
 
These section 8 people live way better than many of us. Plus they get foodstamps, cash assistance,
liheap to pay the utilities, free day care and more. Then they make a good income selling drugs on the street and have ipods, wi, sony tvs, computers, and the best of everything with no bills. I think I am going to quit my job and live off the system.
BERNIE MADOFF IS GOD

Kingston, PA

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#54
Dec 11, 2009
 
thank god, and bernie madoff, for the wall street mess---all the mcmansions built in this area from fake money...and that nonsense over with for a few years.

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