From the start, Eastgate Village has been planned as a truly diverse community of neighbors. That means there’s a home for everyone’s needs...singles, couples, growing families as well as empty-nesters. All will find a wonderful selection of homes and floorplans of every shape and size to meet every budget.

The Eastgate Village community features a state-of-the-art fitness center, professionally landscaped private grounds, large parkways with trees and shrubs, courtyard walkways, and handsome limestone and masonry entry monuments. Come visit us today -- we're ready to show you around and let you in on Chicago's best-kept new community!

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The condominium building, Parc Royale, is at least 10 years old but is in tip-top shape.  The shiny maroon granite and cream facade is well preserved.  The lobby is bright though a bit small, but with a high-ceilinged, airconditioned lobby that is simply decorated.  Corridors on residential floors are well maintained, with shiny marble floors and high-ceilinged corridors. 

There are only around 12 units on the 6th floor.  Security is fairly good. One of the condominium's strong points is its good proximity to Tektite and other major corporate offices such as San Miguel Corporation, the Banco de Oro head office, SM Megamall (though far away to avoid the crowd!), good restaurants, and easily accessible to C5 thru the Meralco Avenue or J. Vargas Avenue routes.  The place is also attractive for rental to expatriates and foreign nationals.

The condominium is 156 sqm, with 2 toilet and bath, master's bath with good-sized walk-in closet, service area for laundry and even cooking if you want to avoid using the main kitchen.  There's also a good maid's room with its own toilet and bath.  The 12.5 sqm parking slot is included in the quoted price.  The unit's interiors include comfortable, clean and functional furniture done in country-style fashion.  Select appliances, custom-built cabinets in pinewood finish, nice lighting fixtures are included in the sale. 

Selling price of unit: Php 8,500,000.00.  Capital gains and broker's fees are for the seller's account; transfer taxes, documentary stamps, registration fees, and other documentation/lawyer's fees/facilitation charges are for the account of the buyer.  Payment may be done thru spot cash or bank financing. Architerra can assist you for bank financing approval as we are accredited with select private banks.  Typical loan application fees payable to the bank are P 3,000-P 3,500.00 for appraisal of property and home loan processing.  Buyers can expect to pay a minimum equity to seller of 20% downpayment  of the purchase price if they avail of the home loan package.   

Please contact Architerra for viewing.  As the unit is vacant, allow at least 1-2 days prior notice to have it opened. 

The above listing is exclusively brokered by Architerra.

Sellers had a 13.6% chance of selling a condo on Seattle’s Eastside in June of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)

June, 2008            1427 condos for sale, 194 condos sold,  13.6% chance of selling.

May, 2008             1472 condos for sale, 211 condos sold,  14% chance of selling.

June, 2007             840 condos for sale,  382 condos sold,   45.5% chance of selling.

The absorption rate, the chance of getting your home sold, did not vary much from May to June of this year.  Inventory is actually down slightly, but the chances of selling were almost the same during the past two months.

Condo values on the Eastside continue to go up, but last month the increase was negligible at only .5% from June of last year.  The actual number of sales is down considerably, by almost 50%. This means the cream of the crop of condos are getting the offers and other condos are just sitting on the market.  Pick your condo/town home purchase wisely.

buy low - get high

SICKIE

this is a comic. read the terms and conditions carefully, then sign on the dotted line

thumbs expand as prices soar and or fall to your financial ruin

- - - - - - - - - - - - - - - - - the newdeference

Earlier this month we wrote about the danger of unguarded, backyard swimming pools and infants.  See "Unwatched Swimming Pools:  Very, Very Dangerous to Young Children" (7/9/08).

The typical, backyard swimming pool is not the only hazard to young children.  The shared pool in an apartment, co-op or condo complex, or hotel, can be equally as deadly. 

Again, a great danger is having an unguarded or unwatched pool where children can wander and play without either a life guard or adult supervision.  If a pool is outdoors, there should be a fence and gate so as to keep-out children as a private homeowner would.  It is not enough to merely post sign with the pool hours.  Also, it is not enough to merely post a sign that no one is to enter the pool without a life guard present.  

The key is to keep-out children during "off" hours.  In an apartment or co-op or condo or hotel with many people under one roof, it is vital to keep-out children before the pool "opens."  A group of restless children visiting a hotel should not be able to sneak into the pool area at 6:00 am.

In the case of an apartment house or hotel, the management and safety of the pool is outside of the hands of either the resident or the hotel guest.  Management must take reasonable steps to prevent an infant drowning.  Otherwise, the property owner will be responsible. 

It is unreasonable for a major resort hotel to have a pool without a life guard.  Sometimes a small hotel or motel will not have a life guard due to economics.  If a hotel does not have a life guard present and post a "swim at your own risk" sign, then it is imperative that parents be extremely vigilant.  This also applies to apartment and condos and co-ops which opt not to hire a life guard.

My firend lives in an apartment house which is a model of how to safely run a pool.  The building has an outdoor swimming pool with adjoining recreation areas on the roof.  The building management has wisely ruled that no one is allowed on the roof outside of the pool hours.  That means that no one is allowed to use any part of the roof except for those hours when a life guard is present.  If a tenant wishes to hold a private party at night after closing hours, the tenant must pay for the life guard who will be present throughout the evening.  Entry to the roof pool is limited and is controlled by the building personnel through two service elevators which are manned 24/7.  Therefore, there are enough deterrent factors to keep-out children during off hours.

Regarding hotels and resorts, parents should not let down their guard because they are on vacation.  The reasonable standard of care for a hotel in the Dominican Republic may not be the same as New York, New Jersey, or California.   A well regarded resort or hotel might not have a life guard.   In other words, it might be the norm of foreign resorts not to have life guards or fencing.  The same applies to pools on cruise ships.  Do not expect a cruise ship to have life guards.  The job falls on the parents to be protective and watchful over their children.

If you live in a co-op or condominium, then as a shareholder you have some voice in the management of the property.  A prudent management will listen to safety concerns.  However, sometimes management or the shareholders will not implement safety practices for a number of reasons.  For example, the cost factor on maintainence, is a big factor.  Many co-ops and condos will not have a life quard so that maintainence is not increased.  Sometimes, the owners and management will not want to construct a fence and gate due to both cost and aesthetic concerns.  In that event the parent must be vigilant.

In the horrible event of an infant drowning, early retention of an attorney and investigation at the site will be the key determinate as to whether there is a viable case of negligence.

Mark E. Seitleman, 7/12/08, www.seitelman.com

.

Cuban spies' ranks on rise in state

An American SPY-CATCHER says Cuba has rebuilt its network of spies in Florida to pre-Wasp Network levels -- or about 210 agents.

BY ALFONSO CHARDY
The Miami Herald

Cuba's communist government has rebuilt its network of spies in Florida to the levels that existed before the FBI rounded up more than a dozen members of the Cuban spy Wasp Network, according to a U.S. Army expert on Cuban intelligence.

Read Full Story on The Investigative Anti-Terrorism Unit of The Miami Herald.

In addition, the company will be required to pay more than $5 million in back assessments the company failed to pay.

Gregoire also announced the state is seeking to revoke Countrywide’s license to do business in Washington for its alleged illegal activity.

Joining Gregoire at today’s announcement was Deb Bortner, director of consumer services at the Washington state Department of Financial Institutions (DFI), and James Kelly, president of the Urban League of Metropolitan Seattle.

“The allegation that Countrywide preyed on minority borrowers is extremely troubling to me,” Gregoire said. “And I hope to learn eventually just how much this may have contributed to foreclosures in our state. The allegation offers evidence that Countrywide engaged in a pattern to target minority groups and engage in predatory practices.”

“That’s why we intend to bring the full weight of the state on Countrywide to rewrite home loans for minority borrowers who may have been misled into signing predatory mortgages,” the governor noted. “My job is to protect hard-working Washingtonians, and protect them we will.”

DFI is required to examine every home-lender licensed in the state of Washington. The agency conducted its fair lending examination of Countrywide last year. At that time, DFI looked at roughly 600 individual loan files and uncovered evidence that Countrywide engaged in discriminatory lending that targeted Washington’s minority communities. The agency also found significant underreporting of loans during its investigation.

“The Urban League is seeing far too many families caught up in the mortgage crisis who are being steered into bad loans,” stated James Kelly. “Today’s announcement from the governor is consistent with her message of protecting Washingtonians from national mortgage instability.”

DFI sent Countrywide a statement of charges on June 23, notifying the company of the fine and the back assessments the state plans to pursue.  Washington says that the investigation continues.

We have written on the disproportionate impact that the mortgage meltdown and housing crisis has had on minorities.

Washington's action against Countrywide comes on the heels of lawsuits for fraud, deception, and unfair trade practices filed against Countrywide by the states of Illinois, California, and Florida.

Sorry to keep harping

Yes, it's true. More information is on the way concerning Highland Development/Highland Homes proposed redevelopment of the old King Arthur's Court site into condominiums.

The problem here is that Highland (Hi John and Bob! — Can I call you Bob?) wants someone to pay for their site clean up. Just do a search for Highland Homes on the blog, you'll see.

Anyway ... Highland went in front of the Planning & Zoning Committee last Thursday (19 June 2008) and asked if they could pretty please change the zoning from R-3/Garden Apartments and Condo District to R-4/Apartment House District. What does that get them, you ask? Density. That's what it gets them.

Residential zonings in O'Fallon are based on a couple of things. The main thing, when talking about residential lots, is lot size. The lower the zoning number, the larger the lot size. R-1 zoning has the largest residential lot size requirement. R-4 has the smallest. There is an R-5, but that's all about mobile home parks and such. So, if the City Council approves the rezoning from R-3 to R-4, Highland will be able to add more condos to the site.

According to their own web page concerning the proposed development – Highland Terrace – they are still on track to build the 240 unit "Green" project. However, a new proposal by Highland that was tabled at the last Planning & Zoning meeting asked for approval of a new site plan that includes 348 condominium units. Do the math: 348-240=108 Tada! They wish to add 108 condos to the same site.

Why would they do that? It's actually rather simple. They'll charge the same amount, or very close to the same amount, for the new designs as they had planned to charge for the old designs. With starting prices in the 160,000 dollar range, and a profit margin of from 10 to 25 per cent, that's just a butt-load of cash. Between 1,728,000 and 4,320,000 dollars in additional cash. (Based on a starting price of 160,000 dollars. Obviously if the price drops, the additional cash will fall off also.)

Now, here comes the bestest part. The last time Highland came in front of the City Council, they said that if they weren't given the Chapter 353 tax abatements, they would have to come back to the city with a whole new financing scheme that would, and I am quoting here, "Probably have to include Section eight housing." What is that? That's state supplemented housing. Isn't that just a great thing? Even now, Highland Development Company, Highland Homes Inc., Smails LLC, John Cavanagh III, and Robert V. Shallenberger, Jr. have found a way for the taxpayers of the city (and now the whole state) to pay for their clean up.

Here's my question though. When I spoke with Mr. Cavanagh after one of the City Council meetings, he told me that they had already sold a substantial number of condominiums in Highland Terrace. What happens to the contracts those people signed? Are they guaranteed to get the condo design and square footage they agreed to pay for? I don't know. I think I'll just have to ask them tomorrow night at the City Council meeting.

And now for something completely differ...er...um... the same?

I have been trying to show the people that read this blog – including Messrs. Hazelwood and Young – that Highland, in all of its various permutations, is a sinking ship that is simply not going to be able to meet its contractual obligations. All of Messrs. Cavanagh & Shallenberger's current development are past their promise dates of completion, they have past due taxes on almost every piece of real estate they own (commercial and residential – corporate and private), they have three pieces of property that University City, Missouri has deemed nuisance properties, and one that they have outright condemned. This is not the kind of builder-slash-developer the City of O'Fallon needs to be working with.

I mentioned the condemned property in University City. It's at 6416 Cates Avenue, and it's a four unit condo building. According to neighbors, the building has remained in its current uninhabitable state with a construction dumpster in front of it for over a year. There has been zero activity at 6416 Cates Avenue for over a year, and the neighbors on Cates Avenue have had to put up with this eyesore and public hazard every day with no end in sight. The pictures that I and one of the neighbors took of 6416 Cates Avenue are available at my Flickr.com page. I will have a couple of new pictures soon. Pictures that show that someone from Highland has visited the site at least twice to remove the bright orange "condemned property" stickers from the front door. I have pictures of the first time it was removed, and I was informed today that now both stickers have been removed and the glass cleaned. University City was called. Not by me, no. I'm just the messenger.

There is also the matter of 6405 Cates Avenue. It is an empty lot with broken bits of concrete scattered around, and surrounded by a perfectly ineffective chain link fence. It is one of the nuisance properties.

There is also a lawsuit that Highland is dragging their feet on that involves 6404 Cates Avenue. I won't go into the explicit details at this time, but it is obvious to any casual observer that Highland is trying to wait out and bankrupt the plaintiffs. I mean how do you install roof trusses upside down? How does that happen? But I shouldn't say too much here. I do want to say one word about 6404 Cates Avenue though, and it is this: M-O-L-D.

There is another set of pictures at my Flickr page as well. Pictures of two other pieces of property that – until recently – were owned by Highland. They have since sold one of the properties, 7009 Darmouth Avenue to an individual. They still own 7011 Dartmouth. It is also incomplete. Before selling off 7009, both properties were classified as nuisances by University City.

There is more I could say, and much more that I should say. I won't yet, because I want to have everything factually perfect before I do. I pulled a lot of punches here today. I have been civil. If I don't see some kind of improvement in this company in a very short period of time, I will make Highland my own little pet project.

Information obtained from Missouri Case.net, the BBB, the Missouri Secretary of State's Office, and any other source I can find will be passed on to the county governments of Saint Louis and Saint Charles; the cities of O'Fallon, Saint Peters, University City, and wherever else I find Highland trying to start up a new project.

I just want to say that everything I have written here is from publicly available sources on the Internet, with the exception of the information I have revealed about 6404 Cates Avenue. That information is available if you ask.

Good night, and good luck.

The Case-Shiller Index of 20 large cities for April 2008 shows housing price declines are accelerating, and are now falling at a rate of 15.3% from last year's levels.

The report also showed that home prices fell 1.4 percent in April from a month earlier after a 2.2 percent decline in March.

There's one bit of "good" news in the report: home price declines were less than expected.  According to economists surveyed by Bloomberg News, the index was forecast to fall 16 percent from a year earlier.

Not surprisingly, the housing bust continues to be most severe in previous boom areas in the West and Florida. 

Here are the markets where prices are falling fastest:

Las Vegas: -26.8%
Miami: -26.7%
Phoenix: -25.0%
Los Angeles: -23.1%
San Diego: -22.4%
San Francisco: -22.1%

Average of 20 large cities: -15.3%

The decline in home prices appears to be spreading.  Chicago showed a 9.3 percent decline and prices in New York City declined by 8.4 percent.  Charlotte, North Carolina, showed a decline for the first time.

According to Bloomberg.com, "One bright spot in the report was that more cities showed a gain in prices in April compared with the previous month. Houses in eight areas rose in value, compared with just two in March. Month-over-month gains were led by Cleveland and Dallas."

Life finally comes to a perfect balance at Royal Palm Residences, a Thai tropical- inspired residential community composed of eight mid-rise and two-high rise buildings, blending old world charm with modern conveniences. Nestled within DMCI Homes' Township Central in progressive Taguig City, here residents are treated to an impressive selection of 12 active play and 23 passive leisure amenities spread across a 1-hectare expanse.

Imagine coming to a place designed to help you achieve a well-balanced lifestyle. A place where work and play come together seamlessly. Where convenience and comfort strike a perfect balance. Where finding your ideal home doesn't have to mean sacrificing your quality of life. 

Area Distances (in KMS):

A. Business Districts

• BGC - 3.65 Km
• Makati - 7.5 Km
• Ortigas - 8.14 Km

B. Commercial

• Market! Market! - 3.65 Km
• Bonifacio High Street - 4.03 Km
• Glorietta - 7.61 Km
• SM Megamall - 9.95 Km

C. Schools

• International School - 4.06 Km
• Colegio San Agustin - 5.14 Km
• Assumption College - 8.01 Km
• CEU Makati - 8.32 Km

D. Hospitals

• Ospital ng Makati - 3.05 Km
• St. Luke's Hospital - BGC - 4.4 Km
• Makati Medical Center - 9.18 Km

How To Get There:

Via C-5 (From Libis) - Exit at Bayani Road tunnel (near Heritage Park) to make a U-turn to C-5 Northbound lane. Drive straight to Petron-BCDA then make a right to Padre Diego Silang Road. Follow the road and turn right to Levi Mariano Ave. Take another right at Acacia Road, corner of Rosewood Pointe, then drive straight until you reach Royal Palm Residences.  

Via EDSA (From SLEX) - From EDSA, turn right to McKinley Road. Take Lawton Ave. then turn left to Bayani Road (Heritage Park). Pass thru C-5 tunnel to enter C-5 Northbound lane. Drive straight to Petron-BCDA then make a right to Padre Diego Silang Road. Follow the road and turn right to Levi Mariano Ave. Take another right at Acacia Road, corner of Rosewood Pointe, then drive straight until you reach Royal Palm Residences.

A 4-hectare, medium density development, Royal Palm Residences is  masterfully planned to envelope 8 medium and 2 high rise residential buildings. Holistic. Revealing and vibrant recreation and leisure amenities are located at the heart of the complex, equidistant to each of the residential towers - designed with your comfort and convenience in mind.

Everyday living at Royal Palm Residences is anything but ordinary, thanks to the impressive selection of resort-like amenities, spread across a 1-hectare expanse of land. Imagine, 23 relaxing leisure and 12 active play amenities, all available for the residents' daily enjoyment.

Amenities:

Passive Leisure amenities

Active Play amenities

• Basketball Court
• Sand Pit
• Children's Playground
• Fitness Gym
• Dance Studio
• Lap Pool
• Kiddie Pool
• Interactive water play
• Open Playfield
• Skating Rink
• Exercise Station
• Jogging / Biking Path

Amenities Pics

Click thumbnails to enlarge:

Facilities

• Guarded grand entrance gate
• 24-hour security
• Water station
• Overhead water tank and cistern
• Garbage collection facilities
• Back-up generator for the Clubhouse
• Wi-Fi accessibility at the Clubhouse

Condominium Units

Typical 2 Bedroom Inner Unit
Unit Area: 50 sq. m. (538 sq. ft.) plus 10 sq. m. (107.6 sq. ft.) Service Area

Typical 3 Bedroom End Unit
Unit Area: 62 sq. m. (667.12 sq. ft.) plus 15.5 sq. m. (166.78 sq. ft.) Balcony plus 10 sq. m. (107.6 sq. ft.) Service Area

Typical 3 Bedroom End Unit
Unit Area: 71 sq. m. (763.96 sq. ft.) plus 15.5 sq. m. (166.78 sq. ft.) Balcony plus 10 sq. m. (107.6 sq. ft.) Service Area

Typical 3 Bedroom Inner Unit
Unit Area: 75.5 sq. m. (812.38 sq. ft.) plus 10 sq. m. (107.6 sq. ft.) Service Area

Typical 3 Bedroom Tandem Unit
Approx: 100 sq. m. (1,076 sq. ft.) plus 20 sq. m. (215.2 sq. ft.) Service Area

PRICELIST AND SAMPLE COMPUTATION

click link to download sample computation and pricelist:

LINK: price-and-payment-terms-_rpr_

For Site Trips, Inquiries, and Property reservation:

JUAN VICTOR "JV" VALENCIA

Tel/Fax: +632.8021068

Mobile:   +63920.9528155

email:  jvr.valencia@gmail.com

This morning's LVRJ reports that One Las Vegas has received its Certificates of Occupancy. That doesn't leave much under construction in Las Vegas, if you cull out all of the glorified hotel rooms on the strip that are for sale. Besides the tiny Mercer and Echelon projects, there's the Juhl project downtown and the ManhattanWest project in the southwest. And that's about it. Everything else is either finished or dead.

This is maybe 1000 condominiums under construction. Compare that with the estimated 10,000+ under construction in Miami.

The point here is that, like babies, condominiums continue to pop out months after the fun happened. But eventually you get to the end of the pipeline. There's not much forthcoming after this in Las Vegas.

Choose

• the only high-rise property with a 180* view of Laguna Bay

• to be part of the biggest urban development of maverick developer Brittany Corporation. 60 hectares of vast prime land envisioned to be bigger than existing urban developments in Metro Manila.

• to be at the heart of the next urban hub, positioned to enjoy the best of what Brittany Bay has to offer.

• a life refreshed by fresh bay winds and lush parks and gardens masterplanned to occupy 75% of the land area.

• a sought after property. Viera, the first of the 5 towers is sold-out and has now broken ground. Tower II is in the pre-selling stage and enjoying brisk inquiries.

The Marfori at Brittany Bay - a prime address in a premium destination.

Price

Studio - 23 sqm - Php 1.5 to 1.9M

1BR - 38 t0 45 sqm - Php 2.6 to 3.9M

2BR - 45 to 54 sqm - Php 3.9 to 4.7M

3BR - 73 to 76 sqm - Php 5.8 to 6.6M

We offer flexible payment terms!

For inquiries and property reservation:

Juan Victor "JV" Valencia

Tel/Fax: +632.8012068

Mobile:  +63920.9528155

email:  jvr.valencia@gmail.com

UNITS

Studio

1BR unit

2BR unit

MARFORI SITE DEVELOPMENT PLAN

At the ground level, an espalier incorporates growing plantlife with the fence, providing a refreshing green frame to the view outside. Gardens, the shaded swimming pool, the private massage coves at the back of the pool, and the wide lanai create a haven for communing with the outdoors, relaxing both mind and body.

Green architecture continues with the elements of the structure. The glass windows are heat-reflective. Cross-ventilation provides for constantly circulating fresh air across the hallways and units. Picture windows both tall and wide, provide a better visual connection to the outdoors while letting in more ambient light for greater energy conservation.

At Avant, the architecture shines with a most brilliant color: green.

Some of the Unit Layouts

Studio -37 sqm

1BR - 54 sqm

2BR - 84sqm

2BR - 108sqm

But recent data released by the U.S. Census Bureau show that Americans are now renting their living spaces at the highest level since 2002, and the percentage of households headed by homeowners has suffered the sharpest decline in 20 years

Households headed by homeowners fell to 67.8 percent from 69.1 percent in 2005. By extension, the percentage of households headed by renters increased to 32.2 percent, from 30.9 percent.

According to the New York Times, these figures "while seemingly modest, reflect a significant shift in national housing trends, housing analysts say, with the notable gains in homeownership achieved under Mr. Bush all but vanishing over the last two years." 

"Many of the new renters, meanwhile, are struggling to get into decent apartments as vacancies decline, rents rise and other renters increasingly stay put. Some renters who want to buy homes are unable to get mortgages as banks impose stricter standards. Others remain reluctant to buy, anxious that housing prices will continue to fall."

“We’re not going to see homeownership rates like that (the 1990s and the early 2000s) for a generation,” said Mark Zandi, the chief economist at Moody’s Economy.com.

“The bloom is off of homeownership,” said William C. Apgar, a senior scholar at the Joint Center for Housing Studies at Harvard University who ran the Federal Housing Administration from 1997 to 2001.  Apgar said the Joint Center had predicted an increase of 1.8 million renters from 2005 to 2015, given expected population trends. Instead, they saw a surge of 1.5 million renters from 2005 to 2007 alone. In the first quarter of this year, 35.7 million people were renting homes or apartments.

Zandi said minority and lower-income homeowners had been hardest hit. Nearly three million minority families took out mortgages from 2002 to the first quarter of this year. Since minority families were more likely to receive subprime loans, economists believe these families account for a disproportionate share of foreclosures.

As we've noted before, the collapse of the housing market and the rise in foreclosures have created an ideal market for apartment owners, especially in economically depressed regions.

As the demand for rental housing has increased, so has the cost of renting.  Nationally, rents are up about 11 percent from 2005.

Christopher E. Smythe, the president of the Northeast Ohio Apartment Association, which represents landlords in the Cleveland area, said the collapse of the housing market had improved the economic climate for apartment owners.

“Our apartment traffic is up, people are renting again and occupancies are up,” he said in a letter to members this year.

The Times also reports that in high-end markets like Los Angeles, the slump in the housing market has begun to push up vacancies as condominiums are converted into rentals.

On the other hand, "those new apartments are often out of reach of struggling families. And since many owners of rental properties are also going into default, the foreclosure wave has resulted in fierce competition for affordable apartments in some cities."

In other words, the housing crisis is hitting the most economically vulnerable families the hardest. 

As we've discussed in an earlier post, minorities have been the most seriously affected by the subprime crisis and the bursting of the housing bubble.  Not surprisingly, the Census Bureau data shows that the percentage increase in renter households from 2005 to 2008 was nearly twice as high for Black families than for Whites.

We're reminded of the old Billie Holiday song, God Bless the Child, written at the end of the Great Depression:

Them that's got shall get
Them that's not shall lose
So the Bible said and it still is news
Mama may have, Papa may have
But God bless the child that's got his own
That's got his own

Yes, the strong gets more
While the weak ones fade
Empty pockets don't ever make the grade
Mama may have, Papa may have
But God bless the child that's got his own
That's got his own

The numbers will now reflect totals from Thursdays.  This will help get the data to you before the weekend, whenever possible.  If the sun is out on the weekend you need to be outside enjoying it, not reading real estate statistics!

(Numbers in parentheses are for last week’s data.  This week’s data is reported through Thursday.)

Active Listings:  25 (25)

New listings:  4(0)

Re-listed properties:  0(0)

Sold subject to inspection:  1(0) 

Pending:  3(1)

Closed Sales:   1(1)

Contingent sale: 0(0)

Number of Price Reductions: 3 (0)

Cancelled listings 0(0)

Expired Listings: 0(0)

Temporarily Off Market:  0(0)

Price increase:  0(0)

Back on market: 1(1)

———————————–

0-$349,999:   0(0)

$350,000-$499,999:  4 (4)

$500,000-$749,999:    5 (5)

$750,000-$999,999:  9 (9)

$1,000,000- $1,499,999:  4 (4)

$1,500,000- $2,999,999:   4 (4)
———————————–
Average Price: $918,247($959,507)

Median Price:   $869,000($869,475)

Average Days on Market: 88(83)

Highest Priced Listing: $2,299,000($2,299,000)

Lowest Priced Listing: $399,500 ($399,500)

The closed sale of the week was for a new construction home on 112th Ave NE.  This home was on the market for 353 days.  The asking price was $1,800,000 and the final sales price was $1,625,000, 10% below the asking price.

_____________________________________________

Town homes/condos:

6 Active, One is pending, one is a canceled listing and two had reduced prices.

Welcome to Omega Properties at Wordpress

LA HABANA, Cuba, junio (www.cubanet.org) - El Maestro no aspiraba a ser como Ché (aún no habían acuñado la frase que repiten cada día, antes de iniciar las clases, los pioneros cubanos). El joven campesino de la Sierra Maestra quiso ser nada menos que Ché Guevara. Fue uno de los primeros infatuados con su personalidad.

Tratándose de Ché Guevara, vaya si lo creemos.

In the last 3 weeks, there have been 4 resale closings at Manhattan. That's as many closings as took place between September 24, 2007, and April 2, 2008, a period of more than 6 months.

There an 11 additional Manhattan units in contract at this time.

A couple of days ago, the New York Times published a piece titled, "Mixed Feelings as Change Overtakes 125th Street." Naturally residents are happy that the streets are relatively cleaner and there are more conveniences than there were, say about 7 years ago; the fact that the familiarity of the area is being lost is most disconcerting to long-time Harlemites. One resident laments the loss of 99 cent stores and bodega:

“The majority of the stores, the 99-cent stores, they’re gone,” said Gwen Walker, 55, a longtime resident of the General Grant Houses in West Harlem, giving one view. “The Laundromat on the corner is gone. The bodegas are gone. There’s large delis now. What had been two for $1 is now one for $3. My neighbor is a beer drinker, and he drinks inexpensive beer, Old English or Colt 45 or Coors — you can’t even buy that in the stores. The stores have imported beers from Germany. The foods being sold — feta cheese instead of sharp Cheddar cheese. That’s a whole other world.”

In my experience, many of the former businesses mentioned by Ms. Walker did not offer quality products. The 99 cent stores were small, dirty and disorganized, as were the bodegas. What I keep hearing from residents is that there is no middle ground in the increasingly rapid gentrification of the area. Nicole Moore, who blogs for UptownLife.net, recently wrote about not fitting into the model of "old and new Harlem."

It’s either bargain basement Conway’s or Tracy Reese selling N (both on 116th St.); fried chicken wings and fries at New Dragon or 21-Spice Coconut Chicken and decadent pineapple rice at Ginger (also located on 116th).

My friend, plus size model Sharon Quinn, also recently touched on the issue of liquor licenses being pulled from local bodegas, which Ms. Walker also mentioned as a concern in the Times article. While it is probably a good thing that malt liquors like Colt 45 and Old English have been pulled, Harlemites should be able to choose to drink Coors or Pabst Blue Ribbon on a hot summer day. Guinness and Heineken aren't always in the budget with increasing rents and living expenses.

The disparity is most evident when we see statistics like, "the average price for new condominium apartments in Harlem hit $900,000, although average household income remains less than $25,000." Whenever something new goes up in Harlem you can count on hearing the following from long-term residents, "This ain't for us."

What are your thoughts and feelings about the gentrification of Harlem. Tell us about the pros, cons and things that you still are not quite sure about.

Photo: Ozier Muhammad/The New York Times

Related: Agents of Urbanism