Interesting article in this month’s Philadelphia Magazine regarding real estate in the area. Although not specific to the shore, the information is relevant because the majority of our owners and potential buyers live in the Philadelphia region.
Bottom line: We should not be lumped together with other markets. The conservative financial traits of home owners in our area have allowed us to weather the downturn better.
Read the article on line:
 Other than the deep snow on the beach path and the 25 degree temperatures, it looked like a summer day! A clear blue sky, warm sunshine on my face, and calm winds made for a nice walk this afternoon.
 The spring flower bulbs don’t seem to mind the snow- a postive sign of warmer days to come.
Spent the weekend in sunny Denver, CO- busy visiting family, going to the museum and walking around the zoo in a light jacket- did not pay close attention to the Philadelphia area weather until shortly before my return flight last night.
Lesson 1- just because a plane can land at the airport, doesn’t mean the passengers should drive home from that location.
Lesson 2- sometimes the Weather Channel doesn’t over play a weather event- when they said you “would be nuts to be on the road at 2am”- they were right!
Lesson 3- a simple rest stop on the Expressway can look like a palace in the middle of the night- a warm, safe place to wait out the storm.
  Thankfully, I made it home before the 2nd band of snow arrived at day break.
    And, very happy that today’s snow driving is limited to Dune Drive 🙂
 The cold winds calmed down and bright sunshine helped our temperatures climb in to the 40’s today.  Much more comfortable for my walk on the beach. Tomorrow afternoon, my view will be the Rocky Mountains instead of the Atlantic Ocean!
 I drive by this park everyday- officially known as the Marion Armacost Memorial Park- but haven’t seen it up close for some time. There is a large playground area suitable for young children, plus swings for the young at heart. And bird watchers will appreciate the walkway to a platform viewing area. A great walking destination if you live nearby.
Making a quick weekend trip to 5600 feet above sea level. Since our son moved to the mountains of Colorado, I have learned so much about elevation- mainly that it doesn’t agree with me. He lives with his family at 10,000 feet in a scenic mountain town. I have tried everything to combat my altitude sickness- without success.  Every trip includes a visit to a local doctor or urgent care facility!
So, plan B: I will stay near Denver at a lower elevation, and they will come down to see me. This will be an experiment to see if my sea level metabolism can at least handle the mile high city. I guess I should ask for a room on a lower floor of the hotel just to be safe!
 The best cure of all… a much anticipated hug from my grandson 🙂
 What a surprise…another cold, windy day at the shore 😉
The weather forecasters try to be creative- “blustery and cold”; “high winds today along the beach”; “breezy and chilly”; “a strong sea breeze”. Can you tell I’m anxious for spring?
Who’s around town in February? Every few blocks- the vehicles for construction crews line the street.
 
 And, although “spec” home construction is rare, we see more individual homeowners tearing down or transforming their existing homes with extensive renovations. It makes sense financially- the builders are anxious for work and providing competitive bids.
 Beautiful start for a February day- sun breaking through the clouds and mild temperatures. Glad I walked early- high winds and colder weather predicted for this afternoon 🙁
According to the IRS web site, a “first time homebuyer” is someone who hasn’t owned a home in the 3 years prior. The new legislation may not apply to our segment of the real estate world, but hopefully it will help jump start the cycle. The following paragraph is from the United States Senate Finance web site:
Refundable First-time Home Buyer Credit. Last year, Congress provided taxpayers with a refundable tax credit that was equivalent to an interest-free loan equal to 10 percent of the purchase of a home (up to $7,500) by first-time home buyers. The provision applies to homes purchased on or after April 9, 2008 and before July 1, 2009. Taxpayers receiving this tax credit are currently required to repay any amount received under this provision back to the government over 15 years in equal installments, or, if earlier, when the home is sold. The credit phases out for taxpayers with adjusted gross income in excess of $75,000 ($150,000 in the case of a joint return). The bill eliminates the repayment obligation for taxpayers that purchase homes after January 1, 2009, increases the maximum value of the credit to $8,000, and removes the prohibition on financing by mortgage revenue bonds, and extends the availability of the credit for homes purchased before December 1, 2009. The provision would retain the credit recapture if the house is sold within three years of purchase.
For the Birds
Exceptional weather this weekend- great excuse to visit the shore!