Answers - Real Estate

Like most places, buying real estate in Birmingham Alabama takes skill, knowledge, and a little good fortune. But lately, home buyers are running into unusual situations with home sellers dictated by the repercussions fr

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

om the refinance and alternative financing boom that took place over the past few years. Traditionally speaking...

Typically, home shopping in Birmingham, Alabama goes something like this:

1. Find a H

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

me
2. Write an Offer
3. Expect a Counter Offer
4. Negotiate
5. Reach Agreement
6. Close the Deal

Lately though, buyers are flexing their muscle and attempting to take advantage of the supposed b

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

yer's market conditions throughout the Birmingham Alabama real estate market. What is happening though is very interesting and leading to some tough negotiations and a slow down in the Birmingham market.

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

Currently, the traditional analysis on the Birmingham market would be considered a buyer's market. Home sales are slowing, homes are sitting on the market for longer periods, while more homes are being listed for sale o

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

a daily basis. One would think that this is a prime scenario to pick up some properties at discounted prices. Despite these conditions, home buyers are not getting the great deals they expect! Primarily because there is

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

a new factor altering the resale market making this Realtor® think that we are in a "false" buyer's market.

A Brief History

2004, 2005, 2006 Refinance Bonanza

Interest rates in 2004 w

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

re at all time lows. People were refinancing, home prices rising, things looked fantastic. 2005, more of the same. 2006 started much the same as the previous two years. But as the year moved on, speculation that the home

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

bubble would burst inevitably slowed the market down while interest rates crawled back up.

The bottom never fell out, but...

Despite the expectation that the bottom would fall out of the real e

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

tate market, and in some places nationally you could argue that it had, Birmingham stayed relatively stable. Although home prices came down a few percentage points, there was not the drastic drop in home prices

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

xperienced in other areas in the country. This is good news for most. However those home owners that had taken advantage of the low interest rates and cashed out the equity of their homes are finding themselves in precar

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ous positions. Especially if they had used an interest only loan or other alternative financing for the primary note on their home.

Where these home owners find themselves is in a situation where the value of their home

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

had lowered enough to close the gap between amount owed on, and equity left in, the home. Thereby placing them in a position where it can be too expensive to sell and with interest rates on the rise, too expensive to sta

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

!

The resale market is stalling while new construction rises

The situations resulting from the above have altered the normal course of events during a buyers market creating what I call the false buyer

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

market in the resale sector.

How?

Well normally a buyer's market swings the advantage of negotiation to the buyer following a traditional supply and demand curve. What is occurring now though, despite supply being way

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

above demand, is a shift in the curve resulting from the lack of equity found in homes currently being marketed. The result is that sellers are having to ask for higher prices than the current market would normally suppo

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

t, in turn resulting in tougher negotiations. With buyer's being patient and willing to wait until a better deal can be had, Birmingham is experiencing an overall slowing down of the resale real estate market. Although t

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ere are some exceptions, see Birmingham Real Estate Price Void, it could be speculated that the ability to negotiate with

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

less limitations financially is why new construction home sales are becoming a larger percentage of home sales throughout the Birmingham area.

And the cradle will rock

Recently buyers and sellers are h

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ving difficulties meeting common ground resulting in this "false buyer's market", but unless things change in the seller's favor, eventually Birmingham will explode into a true buyer's frenzy at the expense of the seller

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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