the Resourceful Realtor

In a surprising turn of events the Dad Vail Regatta, previously announced to be moving to the Navesink River in May 2010, is actually now going to stay put in Philly. 

J. R. Hanna, president of the Dad Vail Regatta organization issued a statement: "After carefully evaluating all of the factors related to optimizing the success of staging the year 2010 Dad Vail Regatta at which attendance is expected to exceed 3,500 rowers, and after serious deliberation taking into consideration the many voices of Dad Vail stakeholders near and far, an official, final decision has been made to stage the year 2010 Regatta on the Schuylkill River in the City of Philadelphia."

Although the Rumson borough council tentatively agreed to host the Dad Vail Regatta, which made the rowing competition's departure from Philadelphia one step closer to becoming official, it never quite got there. 

"Certainly, it is a disappointment," Rumson Mayor John Ekdahl was quoted in the Philadelphia Inquirer. "I'm frankly shocked at the turn of events."

According to that newspaper, despite the surprise, Ekdahl said Rumson would not sue for breach of contract.  "From a technical standpoint, we only had a handshake," he said. "We're not litigious. There's no way this is going near a courtroom.

Yikes.... another year.  Bailouts & Layoffs.  Swine Flu & Health Care.  Even Christmas Day terrorism.   

Are we having fun yet?   

In real estate terms, the year was quite a thrill ride with all sorts of twists and turns like tax credits, loan modifications, shorts sales, foreclosures, and the Return of the Buyer. 

While many buyers remained in hiding, increasingly, especially toward the end of the year, die-hards were returning to the game poised for action, convinced they were the only ones crazy enough to be playing:

• Many came expecting the Deal of the Century and left disappointed.
• Others came making what appeared to be perfectly reasonable offers only to learn of a seller's sharp difference of opinion. 
• Sometimes these sellers actually found another buyer who was more in sync with their idea of their home's value. 
• Other buyers still found realistic homeowners who were receptive to their reasonable purchase offers and now are in their new homes. 

I'm nothing if not exhausted by it all.  Stay tuned for my annual market reports, they'll be posted on my blog in a week or so.  I'll be sure to let you know they're available.   

Happy New Year!