Actual - Real Estate

So what happened in Kalamazoo's real estate market in 2006? It was a very interesting year (if you're a REALTOR). Let's look at

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

5 key indicators:

Number of houses SOLD: 4700 homes were sold in 2006, this is 5% less than in 2005. Our 10

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

Examples of combination products may in

year average is 4500 homes sales.

Ave sale price: The median sale price went from $150,000 in 2005 to $145,00

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

0 in 2006. This was the only year in the past 10 where average properties values have not increased. The current average sale p

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

rice is on par with those in 2004.

Homes for sale: On Jan 1, 2007 there were 4900 houses for sale, up from 35

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

Combination pro

00 in Jan of 2006 and 3300 in January of 05. This represents a 48% increase in just 2 years!

Time on the market:
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
ong>The average time it took to sell a house in 2006 was 121 days, up from 75 days in 2005 and 60 days in 2004. The 5 year aver
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
age is 72 days.

Interest rates: Mortgage rates on a 30 year conventional loan are currently 6.25%. The 10 yea
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
r average is 6.50%.

Please, please, please do not use these averages and generalizations to assume anything about your house,
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
your neighborhood or a specific school system. Some of our neighborhoods actually experienced an increase in both the number of
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
sales and in market value. Homes in some price ranges actually experienced shortened market times. There was also a wide varia
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a
tion in key indicators from one school system to another.

Please call us (the Veenstra team) if you are considering selling a
dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod
house. It is crucial that we consider the specific market conditions that are impacting your house, neighborhood and school sys
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
tem.

Kalamazoo Schools and the Kalamazoo Promise: It is very interesting to compare the market trends in the
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
Kalamazoo School System (Kalamazoo Promise) with our over-all market. David Veenstra has made a presentation to the Westwood Ne
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
ighbrhood association and has done considerable research in this area. The market statistics do show that the Kalamazoo Promise
ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust
has positively impacted the real estate market as well as the educational opportunities for the children in Kalamazoo Schools.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
The Veenstra Team is happy to present and discuss the results with individuals and groups.

Perhaps the most important thing t
.

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
o learn from all of these statistics is that it is a great time to buy a house! Interest rates are great, there's a broad selec
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
tion of houses to choose from and there are some super buys. Give us a call. Contact us at 269-488-0214 or SOLD@VeenstraTeam.co

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

Tags

Links

Actual - Kalamazoo MI Real Estate Market Summary For 2006, Including Comments On The Kalamazoo Promise

Related Articles: