March 2008 Archives

Site Plan #47

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I've been working as part of our Solon project team for nearly seven months, and in that time our site plan has been continually evolving.  For those who are not familiar with our Central Park project in Solon, we are designing a 90-acre pedestrian friendly downtown for Solon, with a mixture of retail, business, and residential uses.  We will stop at nothing less than designing a world class project, and our team has been working feverishly for get the site plan just right - I estimate we have been through at least 47 iterations of a plan, and we'll probably be through another 47 before it is all said and done.  Why so many drafts?  For one thing, we (and the Solon community) demand excellence.  In addition, we are balancing numerous interests and considerations.  We need a plan that exemplifies sound urban planning principles, but also acknowledges the practical needs of modern retail and business tenants.  We need a site plan that has enough density to create a true sense of place and downtown, but at the same time addresses the concerns of residents who live near our project about height, noise, light, and traffic.  These considerations occasionally conflict, and as we continue to mold the site plan, we constantly re-evaluate it from every perspective.

One specific planning principle we have been working hard on is creating a site that has both an outward focus and an inward focus.  What does this mean?  Many town center / lifestyle center projects are surrounded by surface parking lots and turn their back on the surrounding community.  This may create a sense of arrival and of place, but it creates a disconnect with what is next door or across the street.  We strongly believe that Central Park should fit into the existing civic fabric of Solon and embrace the community around it, rather than turn its back on it.  Our plan will have buildings and activity that face outward, while at the same time having public space and energy that looks inward.  It will link City Hall and the Solon Arts Center into a civic and cultural park.  When it is done, it should look like it has been there all along.  Creating the right balance of inward and outward energy/focus is a challenge, but as we move on to site plan version 48, 49, 50, and beyond, we will continue to focus on it.

New On-Line Real Estate Encyclopedia

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Everyone knows about Wikipedia, the free, open content, community-built encyclopedia that contains over seven million articles on topics from A to Z. Have a question? Consult Wickepdia. Have some knowledge you'd like to share? Enter it into Wickepedia. It's become one of the biggest resources of information on the internet.

I just discovered one for the Real Estate Industry that I wanted to share. New homebuyers, real estate professionals, or anyone who has a question or interest about Real Estate can now consult the brand new Real Estate Wiki.

At first glance it seems to have the makings of a great resource, especially for new home buyers. Topics include, among many:

  • How to buy a new home
  • Building FAQ's
  • The Ins & Outs of Selling your home
  • Homes & Lifestyles

Check it out and bookmark it.

Leanne van Beers-Werneke is the Director of Marketing for The Coral Company.

Is Now a Good Time to Buy a House?

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We have all seen the headlines: 

"Foreclosures Increase 93% Over The Past 12 Months."

"Interest Rates At An All Time Low."

"Freddie Mac Sees Housing Continuing To Tumble."

"Home Prices Drop Fourth Straight Quarter." 

The only thing for certain, to quote leading business consultant, Tom Peters, "If you're not confused, you're not paying attention!"  Don't worry Tom, we are definitely paying attention, and drawing from the mixed messaged headlines above - we are definitely confused!

So, I ask the million-dollar question that is on everyone's mind: Given the current state of today's housing market, is now a good time to buy?

Well ... according to Jim Cramer's, host of Mad Money on CNBC, controversial interview on The Today Show, it is not a good time to buy.  Cramer shocked America and I am sure received several threats of bodily harm from realtors across the nation when he warned viewers, "Don't you dare buy ... Don't you dare buy now.  You will lose money."

Liz Pulliam, author and personal finance columnist for MSN Money, seems to agree with Cramer.  In her blog A Home Buyers Market? Hardly! Pulliam states that today's homebuyer needs to have nerves of steel - placing blame on tumbling home prices, stiff credit standards, gun-shy lenders, and spooked appraisers.

Yet on the other hand, others such as Jason Mook, a Windermere realtor, disagree with Jim Cramer.  Just check out Mook's blog, Jim Cramer Told Me Not To Buy a Home, and My Mechanic Told Me I Need A Colonoscopy.

The National Association of Realtors also agree, having recently launched a national "Buy Now" campaign stating that with interest rates at an all time low, a large inventory of homes available on the market, and the fact that real estate continues to remain the best investment available - now truly is the best time to buy.

So who is right?  Still confused?  Just remember, as long as you are buying the right home for you, at the right price, and on the right terms - it's always a good time to buy, no matter the state of the market!

 

Stephanie Sturzinger is the Director of Sales and Commercial Leasing Associate for The Coral Company.

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