Testimonials

or

RAVING FANS!

There is no greater compliment in business than an unsolicited "YOU ROCK" from a satisfied customer. Following is an e-mail I recently received from a satisfied client. Only the names have been changed to protect the innocent (or guilty).

Tim,

I just wanted to let you know that you are the man.
I really appreciate all the time you have given us with this move. I am sure we were a little more high maintence then the usual buyer.
I can't thank you enough for going to bat for us with ***** homes. Your email definitely got the job done. S***** has not responded so quickly since we have started this whole process!!
I will make sure to tell EVERYONE I come in contact with what a fantastic real-estate agent you are and can't thank you enough for all your time and effort.( I don't know if M*** told you but I have a really big mouth!).

Thanks again!!!!!

J***** and M***

M*** and J*****

I must say it was a pleasure working with you and I will donate a percentage of my commission in your name to a local school library in Bellefonte to support literacy in your community.

Several Sobering Market Statistic's

224

2001 - Q1

24

224 - Total closed transactions in the first quarter 2007.

2001-Q1 - The last quarter that total closed sales in MLS recorded a smaller number.

24 - Total number of quarters that exceeded the number 224.

Is there anything else to say about the current market?

WE'VE GOT LOSERS....
....WE'VE GOT WINNERS

We appreciate the following markets or....

THE TOP 10 MARKETS W/GREATEST 2006 HOME APPRECIATION

Market 2006 Appreciation (%)

1. 
   
   
   Salem, OR. 19.8



2. 
   
   
   Virginia Beach/Norfolk 19.4



3. 
   
   
   Spokane, WA. 17.7



4. 
   
   
   Salt Lake City, UT. 16.7



5. 
   
   
   Eugene/Springfield, OR. 16.7



6. 
   
   
   Baton Rouge, LA. 15.9



7. 
   
   
   Gainesville, FL. 15.9



8. 
   
   
   Ocala, FL. 15.5



9. 
   
   
   Dover, DE. 14.7



10. 
    
    
    Portland/Beaverton, OR. 14.7

Source: NAR Existing Home Sales Report

It's interesting to note that 4 of the Top 10 markets are home to large universities. Only one market is in the northeast (barely) and half of the hottest markets are in the Pacific Northwest. Perhaps the stampede is on as California "Goldrushers" abandon ship for the tranquility to the north.

Compare the winners with the previous list of losers. 6 of the top 10 losers markets were in Ohio and Michigan and 9 of the 10 biggest losers are in the rust belt. So as things rust in the upper midwest, the boom is on in the Pacific Northwest. Or so it appears for at least one year;2006.

WE'VE GOT WINNERS....

WE'VE GOT LOSERS

TOP 10 MARKETS w/ Greatest loss in home value

2006

Rank
Metropolitan statistical area
One-year loss (%)

1.Detroit-Warren-Livonia, Mich. -7.4

2.Toledo, Ohio -6.2

3. Sarasota-Braden-Venice, Fla. -5.6

4. Akron, Ohio -4.9

5. Youngs-War-Brdman, OH/Pa. -4.8

6. Bloomington-Normal, Ill. -4.4

7. South Bend-Mishawaka, Ind. -4.0

8. Indianapolis -3.6

9. Cleveland-Elyria-Mentor, Ohio -3.2

10. Lansing-E.Lansing, Mich. -3.2

Isn't it interesting that three or four of the markets are home to large universities? I think that should help put the Centre County market in perspective. Although we are home to a large Big 10 University, we are a small market removed from the metro areas and insulated from the huge price fluctuations of larger metro areas.

NEW LISTING - BELLEFONTE SCHOOL DISTRICT

First Time Homebuyers

1.51 acres surrounded by woodland

Great starter home! Cute 2 bedroom 2 bath house on 1.5 acre wooded lot - perfect for first time buyers. New windows, new hot water heater.

NEW LISTING

THE COUNTRY LIFESTYLE BUT CLOSE TO PENN STATE

Gorgeous saltbox style 3/2.5 on 3+ acres in the Penns Valley School District but minutes to State College and Penn State University. Located on a quiet country cul-de-sac and surrounded by a thriving fruit orchard and lush perennials, the spacious interior lends itself to a growing family. First floor master bedroom, dining room with french doors and woodburning fireplace, and a beautiful country kitchen with cherry cabinets and an island, make this home the perfect country farmette. Post card views of the surrounding countryside and breathtaking view of Egg Hill. $269,900

What’s selling in Millheim?

The data reflect primarily E. Main St. and not the entire town for calendar year 2006.

$953,700 is the value of the property sold in your neighborhood in 2006.

$125,564 Average selling price

$69,000 Low Price

$146,500 High Price

83 – Average Days on Market

HOMES SOLD FOR 92.2% OF LIST PRICE

COMING SOON


An overview of the real estate market in Steeplechase.

What's selling in PARK VIEW HEIGHTS Real Estate?

$2,154,500 is the value of Property sold in your neighborhood in 2006!

9 HOMES SOLD AVG DOM-39

AVG PRICE-$239,389

Low Price - $161,000 High Price - $319,000

923 Woodland Dr. - $161,000 951 Tanney - $178,000

1239 Shady Ln. - $219,500 1239 Sylvan Cr. - $222,500

901 Woodland Dr. - $220,000 1308 Laura Ln. - $262,000

1316 Joanna Dr. - $285,000 1316 Joanna Dr. - 287,500

1209 Sherwood Ct. - $319,000

Note: 1316 Joanna Dr. sold twice in 2006.

HOMES SOLD FOR 97.5% OF ASKING PRICE

NEW PRICE in AARONSBURG - $139,900

Large 4 bedroom center hall farmhouse w/impressive country kitchen w/fireplaces in kitchen and dining room. Large rooms make for comfortable living. Perfect setting with 1 3/4 acres set on a hill and surrounded by several large shade trees.

This is a must see home - don't be fooled by a dreary winter exterior photo. Call me now before it is SOLD.

IF YOU WANT TO BE RICH, DON'T BE A RENTER!

With apologies to all of the landlords in the Centre Region and you folks graciously paying them...

STOP IT ALREADY!!

Even if you don't aspire to be rich, you should still make financial decisions that will benefit you and your family today and in the future. I promise you that paying rent on the first of every month is not good for your financial future.

Did you know that the average homeowner is 34 times RICHER that the average renter? I'm talking about the average. I'm not comparing renter's to the owners of the million dollar McMansions that are quickly polluting suburban America. I'm telling you that the average tenants net worth is LESS THAN $5,000 and the average homeowner is worth almost $172,000.

Step off the renter treadmill and launch your financial future. You don't need much money and you don't even need great credit. You simply need the desire and the assistance of an expert.

Don't think you can fire your landlord?

I challenge you to call me and fire your landlord.

Remember, IF YOU WANT TO BE RICH, DON'T BE A RENTER!

NEW LISTING - Bellefonte, PA
Affordable Housing in Bellefonte

3br/1.5 bath

$155,500 List Price

*Monthly Payment P & I - $912.39

$56,000 Annual Joint Family Income Needed#

Don't miss this cozy home on a quiet dead-end street in Bellefonte. Huge 1/2 acre fenced yard. Snuggle by the wood burner on crisp winter evenings or soak in the hot tub on the screened-in porch on cool spring mornings. New wood laminate in the kitchen and new roof 2 years ago. Close to schools, shopping and the historic district in downtown Bellefonte. Don't wait long on this very comfortable home.

*Based on 30 yr fixed with $5,000 dp and 6.125% interest rate. #Based on Mortgage101 calculator.

WORD OF THE MONTH

And you thought it would be related to Love and Cupid. There is lot's of love behind this word in a strange kind of way.

Jumper
From Wikipedia, the free encyclopedia
Jump to: navigation, search
The word jumper has many meanings:
A jumper is a garment.
In the United Kingdom and Australia, it is similar to the US sweater or a jersey.
In the US, it refers to a sleeveless collarless dress; see jumper dress.
A jumper is a type of horse, used in the sport of show jumping.
A jumper in computer electronics is a conductor used to connect two pins.
A jumper is also a slang term for someone who commits (or attempts) suicide by jumping from a great height.
A jumper is a parachutist; a smokejumper is a firefighting parachutist.
Jumper (novel) is a science fiction novel by Steven Gould.
Jumper (film) is the film adaptation of the novel.
Jumper (band) was a swedish pop band during the late 90's.
A jumper in basketball terms means a jump shot.
A song by Third Eye Blind on their first album.
The Citroën Jumper (Relay in the UK)
The word as it refers to garments comes from the Quechua language in which chompa means "a loose, outer jacket". It was first applied to a sailor's jacket.Jumpers may refer to:
Jumpers is a satirical play by Tom Stoppard
"Jumpers", a song by Sleater-Kinney from their album The Woods
Jumpers, a nickname for a member of the Welsh Methodist revival

Wikepedia did not inlcude the meaning that I was looking for or the one real estate brokers would understand.

7 For '07 - 7 Selling tip's for selling a home in 2007

So the market has been in correction mode the second half of last year and I'm continually asked when the market will pick up. The market is self-correcting as is the high risk mortgage market. The market correction in Centre County will be more about a softening in price, longer days on market for sellers, and educated buyers having more power in negotiating than in the giant price swings into negative territory that other markets are experiencing at the moment.


1. Market timing - When should I put my house on the market?

There is no time like the present. The market is heading in the direction of increased activity and will build every month into June and July. If you can picture a bell curve with early July the zenith and January and December representing points at the bottom of the curve on either side of July, you have a visual. What this means to sellers is that to reach the maximum number of buyers they should have their home on the market by the end of April. Sellers must realize that there will be more competition at this time, so I counsel sellers to list just ahead of the peak season in hopes that your property will be "sale pending" just prior to the onslaught of properties coming into the market.

2. Pricing

This is always the most important factor when selling your home no matter what the market. Please remember this; the market establishes the price of your home. The economics of home buying/selling mirror that of the commodities market in that sellers come to market with pricing based on availabilty and demand for their product and buyers purchase offers are based on the same knowledge plus the intrinsic value they place on the home

3. Home Inspection

Bite the bullet and pay for a home inspection prior to listing your home. In a competitive market it may come down to the minor details and the easy negotiations to get a home sold. If the buyer has the inspection in hand when considering an offer, it could save valuable time in the negotiation process and eliminate needless delays after a purchase offer is accepted.

4. Offer a Home warranty

When a buyer has narrowed the selection to one or two homes it may be something small like providing a one year home warranty to push the buyer to write on offer on your home and not the one down the street.

5. Prepaids

Be willing to offer buyers assistance with closing costs, inpsections, and interest rate buydowns. Maybe you will prepay the first years real estate taxes and insurance. Don't be afraid to tell them in the marketing material that you are offering items that your competition may not. Remember, you are competing with a limited number of savvy buyers that are aware of market conditions.

6. Negotiate

Sellers that have a serious interest in actually selling their home must be willing to engage buyers when they present an offer. I have been on both sides of the negotiation process when a seller reacts with disdain when presented with an offer that they consider to be insulting. If you simply bury your emotion and engage the potential buyers in a negotiation process, you may be surprised with the ultimate result. If you react like a teenager and refuse to respond, it will be the sellers loss. Remeber, almost 80% of the first offers are the best offers so at least take the time to counter-offer no matter how upset you may be with the initial offer. This is a business transaction. Remove the emotion and treat it as such.

7. Stay another year

If there is no urgent need to sell you may want to stay another year as the market bottoms out and completes the correction. What are your motives for moving? Do you want to trade up to a larger home? Are you empty nesters? You may find a more friendly market next year than you do at the moment. If selling this season is a luxury more than a necessity, you may want to re-think your strategy.

The trick is to get a great realtor, price the property well, and eliminate in advance as many potential problems as you can without spending a fortune.

For help in selling your home feel free to give me a call directly at 280-0054.

TOP 5 MYTHS FOR FIRST-TIME BUYERS


1. Prices have exploded so we should wait until they come down next year to buy.

Fact: Prices for closed sales rose 5.0% in 2006. They rose 3.0% in 2005.
Prices have appreciated in Centre County but not at the rate of certain "hot" markets across
the country. Our market over the past 30 years has averaged about 1% appreciation per
year. If you wait until next year hoping prices will fall you will be disappointed. Prices may
level off or drop a bit this year and next but any savings you may realize in waiting will be
offset by the increasing cost of mortgage money as rates are certain to be higher in 2008.
The important point to remember is that higher rates next year will negate any savings realized by price fallback.

Fact: The differences in a 30 year 200K mortgage comparing the current rate of 6% versus a potential rate in 2008 of 7.75% is $234 a month and $84,139 over the life of the loan. (P&I only). Will you save 84k on a $200k home by waiting until next year? NOT!

2. The market in Centre County real estate is slow so we can get a great deal from a seller.

Fact: Days on market or the average time it takes to sell a home was up 18.4% in 2006.

It did take longer to sell homes in 2006 but the market hardly slammed into a brick wall.
The market in Centre County could be described today as it could years ago; nice and steady and not too heady. It will take longer to sell a home in 2007 but the homes will sell. You may get a great deal from a seller but you may simply pay a fair price for a home that meets all of your search criteria and you can't live without.

3. I should contact the listing agent

Fact: Seller agency law in PA. states that the listing agent owes the fiduciary responsibility to the seller to get them the best price and overall deal. That will be at the expense and best interest of the BUYER.

Many buyers think they should call the listing agent of the property they want to preview. Buyers agents work with buyers to get them the best possible deal in the transaction. They owe the fiducuary responsibility to the buyer and not the seller. If you work with the listing agent on a transaction they will not have your best interests in mind as they are legally bound to the seller. Buyer agency was intended to negate the old adage; "let the buyer beware." When you call the listing agent you are by default renewing the "old adage."

Don't put yourself in that position by dealing with the listing agent.

4. As a buyer I need to pay a fee to my buyers agent before searching for homes.

Fact: Sellers brokers pay the fee for both sellers agents and buyers agents.

Only pay a fee to a buyers agent if they will entertain you by performing in a Mardi Gras costume while singing the Macarena and drinking green beer on St. Patricks Day morning. Otherwise, buyers agents work on your behalf and are paid at closing via funds provided through the selling broker.

5. Can we just go look at houses today?

Fact: The law requires agents in Pennsylvania to have signed buyer agency agreements in place prior to previewing homes.

The answer to the question is possibly. You are required to sign the PA Disclosure and buyers agency agreement. If you are serious about buying you should have your buyers agent get you prequlaified with a mortgage professional. Many sellers request 24 hours notice to view their homes. So, yes, you can go look at a few homes today if:

A. You have signed the required paperwork as requested by the state of Pennsylvania.
B. You have prequalified with a mortgage professional.
C. The sellers agree to a short notice showing.

If you need answers to other buyers myths or help buying or selling a home call me. I will give you the facts and the truth.

Fourth Quarter 2006 sales data for the Penns Valley School District.

4th Quarter 2006
Penns Valley Overview
16 Homes Sold Avg. DOM - 110
Avg. Price - $196,564

Low Price - $69,000 High Price - $336,350

Millheim
259 E. Main - $69,000
144 E. Main - $142,500

165 Penn St. - $148,050

Spring Mills

689 L. Georges Valley - $78,000

105 Fieldstone Court - $217,000

173 Ayva Ln. - $295,000
132 Bilmar Ave. - $310,000
296 Harter Rd. - $366,350

Rebersburg

134 W. Main - $92,000

277 White Deer Rd - $269,000

Centre Hall

123 Schaeffer Ave. - $146,000

128 Pennsylvania Ave. - $159,000
411 Pennsylvania Ave. - $162,000
100 Water St. - $150,000
113 Charles St. - $221,000

Woodward
209 Whitetail Rd - $167,000

www.MyPennStateHome.com
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Builders in trouble?

This morning I was doing some research on new home construction in Centre County when I stumbled across another article relating to the Florida building business. The only reason I mention this in my blog is that it supports my recent blog post relating to builders and developers carrying a substantially greater share of infrastructure costs in Florida. Read the post titled, "Who pays this tax anyway?" on December 30, 2006.

The builder states in the latest news release that 218 employees will be FIRED (layoff would be the politically correct term) between Feb. 16 and March 1, 2007. Merry Christmas to all - they were told on December 18, 2006. The builder "trimmed" 135 jobs on November 15, 2006. The company blamed the downturn in housing construction as new construction homes wallow on the market for months.

I wonder how much government regulation has impacted the sales of new construction housing? A billion dollars in new government regulations paid directly by builders must impact the costs (increasing them) to builders that are passed on to consumers in the form of higher prices. The higher prices slow demand because potential buyers may buy a resale at a lower price rather than buy the new higher priced home. Or trade-up buyers don't trade up and stay in their homes for additional years.

The losers? Employees of the builders and developers that lose jobs because builders and developers are not charity operations. I'm sure the employees sent packing have no idea their local elected officials have impacted their lives in this manner.

The good news is that government can take the "savings" they have realized from infrastructure taxes and use the money to keep the FIRED employees afloat while they search for new jobs in the state.

So, again I ask, "Who pays this tax anyway?" And now we know that empoyee's of builders "pay" this tax as well.

What is "Green Building" anyway?

The first thing I think of when someone mentions "green building techniques" is the old bi-level house in our neighborhood that sported the beautiful green aluminum siding so popular in the early seventies (the 20th century). You probably remember the era when the cars wouldn't fit in the garages because they were the size of large boats and the coal delivery guy showed up several times in winter. I remember how grateful I was that we had oil heat when my friends had to haul coal ashes in the middle of winter.

"Green building techniques" have nothing to do with the color of the aluminum siding (or any other siding) on the old houses back in the day. According to the B.E.S.T. Green Building Primer green buildings:

Green Buildings are really resource efficient buildings and are very energy efficient, utilize construction materials wisely -- including recycled, renewable, and reused resources to the maximum extent practical -- are designed, constructed and commissioned to ensure they are healthy for their occupants, are typically more comfortable and easier to live with due to lower operating and owning costs, and are good for the planet. The overall environmental impact of new building and community development and the choices made when we either reuse or demolish existing structures is very important.

Green Building Construction Techniques:

1. Create minimum site impact

One wouldn't clear cut a lot prior to building a home. Selective cutting and site planning are considered. Water containment and run-off are minimized. Solar consideration is given when considering solar heat availability throughout the day. Shade availability is considered when thinking about additional cooling in warmer months.

2. Use renewable, recycled, or reused building materials.

Construction materials including insulation, framing, sheathing, and some roofing material are manufactured using recycled, renewable, and reused materials in concentrations ranging from 25% to nearly 100% in their overall content of recycled materials*

3. Maximize energy efficiency

Insulation is used in every available space. There are new renewable insulation sources builders can apply including a soy based foam insulation product that fills all cracks and crevices as it expands during the application process. An agent is added to deter rodents and other critters from "lunching" on the insulation. Caulk is applied to gaps and crevices in the framing of the home.

Energy efficient lighting, windows, furnaces, appliances, and boilers or heat pumps should be implemented in the design build.

Geo-thermal heat pumps should be used when they can be implemented within the overall design. Consideration should be given to the responsible use of the additional water available from the geo-thermal heat pump.

4. Use water efficiently

Low-flush toilets, well insulated hot water piping, low-flow shower heads and faucets, and dishwashers and clothes washers that have "water-miser" features are all important to lower home water use*

Water conservation should be carried outside the home into the landscape as well. Plant material and placement should be carefully planned based on the water needs of the exterior site plan and environment.

5. Indoor air quality

Certain air quality issues such as Radon gas and Mold have been addressed by the state of Pennsylvania. Other items to be addressed inlcude excesive moisture, mildew and dust mites.

6. Use local when possible

Green builders use local materials when available because they reduce transportation costs and environmental effects of transporting materials great distances. Many local building products are renewable or are second time use (recycled).

This is a brief overview of the green building process. Believe it or not there are no national standards that the industry has developed and adhere too when considering green building. There are several organizations that are working toward national standards and certifications so it is a matter of time before the industry takes this important step.

For additional information please check the green building link.

*Material provided by http://www.energybuilder.com/greenbld.htm

Bayberry Candle Tradition on New Years Eve

Happy New Year and following is a poem that is used in conjunction with burning Bayberry Candles. Some burn the candles on Christmas Eve and others on New Years Eve. We burned our candles on New Years Eve.

This Bayberry candle comes from a friend. So on New Years Eve burn it down to the end. Because a Bayberry candle burned to its socket, brings good luck, good health and wealth to your pocket.

Who pays this tax anyway?

The headline states, "Burden of Growth Shifting to Developers." My thoughts immediately were directed to local and state government and how they are finally doing something on behalf of the rest of us. The sub-heading, "Over 2 Years, State Law Nets Millions for Roads." Wow, how cool is that? Our government is finally coming through for us. YESSSS!

But, I'm never one to draw a conclusion from the headline so I made the mistake of reading the body of the article. Darn it. Why did I ruin my feel-good attitude with the content provided. It turns out that during the past two years developers have funded nearly $1 billion in new or improved county roads, bridges, lights, drainage systems and sidewalks.

The expenditures mark a fundamental shift in who carries the burden of paying for new development. For decades, most of those costs fell to the county. The results of the study look like this:

FY 2004 - Developers share of infrastructure - $8 million
FY 2005 - Developers share of infrastructure - $368 million
FY 2006 - Developers share of infrastructure - $554 million

Now that is a state law we can embrace. Right? Right?

The law requires builders and develepors to pay for infrastructure impovements not only in their development but within a five mile radius if the government determines the development will impact the given radius. The law was passed because consumers (users of government programs) have been complaining about too many tax increases and the burden those consumers are facing with ever escalating taxes. It said so right in the article. Interesting.

So, are developers now responsible for building schools, 24 hour emergency care, and Starbucks coffee houses? What is a development without a Starbucks two minutes away. But I digress.

The first question that popped into my simple mind was; what has the county government done with the $1 billion in savings during the past 24 months? I know, I know. We are not supposed to ask government officials those kinds of questions. We would't want them creating a silly answer.

The second question. Do government officials and newspaper editors really think that their constituency is so oblivious to reality to believe the headline. Apparently, the answer is yes.

For one to understand the operation of a business one must understand that the bulk of government imposed regulation will be passed on to the the end user via increased prices. I understand that many of my friends think that is such a simpleton approach but it is the truth. Will the builders pay some of the increased costs? Yes. Will they pass the bulk of the costs to the end user? Yes. Otherwise, they would operate on razor thin margins and the money used to fund the developers would flow to other activities and industries.

The strange twist to this story is that the state referred to in the article is Florida and the county is Hillsborough. The article was featured in a recent edition of The Tampa Tribune and I had the opportunity to read it as I was relaxing by the canal on a warm December morning during my trek to the Outback Bowl.

Now, without completing an in-depth analysis of the Florida real estate market let me tell you what is happening in Florida. Prices sky-rocketed in the past three years and have recently nose-dived. Much of the cost has been market-driven. For developers building new subdivisions, part of those increased costs are driven by government regulation. I stopped by a new development and talked with rep's from four different builders. To say the market for new homes is slow would be the understatement of the year in Florida. They will do almost anything to sell a new home in inventory. They are not building many spec homes at this point because it takes too long to sell them. Imagine making interest payments on 50 spec homes that sit on the market for the next 12 months. DOM for inventory is approaching one year.

Market forces are at work but what part of government regulation has impacted the new developers? I saw a billboard from a developer in the Tampa area that offered "UP to 60% off New Home Purchase." I laughed when I saw it but I'm sure the builder wasn't laughing.

I'm sure the politicians are laughing. The press and the public think that they have saved consumers $1 billion in taxes in the past couple years and no one has bothered to ask the officials what they have done with the $1 billion in savings.

So, who really pays the cost of development in Florida or elsewhere. It's obvious I think. And so do the laughing politicians.