Builder Trends: Why You Should Care

Builder Trends for Agents

New home construction starts and new home sales are recovering much more slowly than other housing indicators. In August, new home starts and new home sales were 40-50% below normal levels, in contrast with existing home sales, which were just 2% below normal. (By “normal,” we always mean the long-term historical average, not the peak of the bubble, which was anything but normal.) Likewise, Trulia’s latest Bubble Watch reported that prices look just 5% undervalued. What’s holding construction back? The vacancy rate and household formation are two fundamental drivers of construction demand, and both still look weak.

A Brief Soak in the Bathtub of Housing Data
To understand why the vacancy rate and household formation matter for new construction, here’s a simple analogy. Think of the vacant housing stock as water in a bathtub. The bathtub fills when new homes are built. The bathtub drains as vacant homes are occupied, which depends on how fast the overall number of households is increasing – “household formation.” (Side note #1: Newly formed households, who tend to be young, might not be the actual people moving into the newly constructed homes, which tend to be more expensive; rather, this is about aggregate numbers of housing units and households. Side note #2: for simplicity, we’re ignoring the fact that some obsolete vacant homes get demolished.)

When new construction runs ahead of household formation, more water fills the bathtub than drains out – which means the number of vacant homes grows. But when new construction is slower than household formation, the level of the bathwater falls. There’s no magical level of bathwater that’s perfect, but too little water in the tub means a housing shortage, and when the bathtub overfills, that glut of vacant homes might cause a price crash. In the long run, to keep the bathwater from being too high or too low, the “right” level of new construction depends on BOTH the vacancy rate (how full the bathtub is) AND on household formation (how fast the tub is draining).

In the U.S. today, the bathtub is fuller than normal (high vacancy) and is draining slowly (slow household growth). If the faucet were on full force (normal construction levels), our bathtub would soon overflow. Now let’s all towel ourselves dry and look at the two key facts:

1. High vacancy rate means no housing shortage, despiteinventory shortage.
The national vacancy rate in 2013 is above its pre-bubble level. The share of all housing units that stood vacant (year-round vacancies only, not “seasonal” vacancies like beach homes) was 10.3% in 2013 Q2 according to the Census, closer to its high point after the bubble burst (10.9% in 2010) than to its pre-bubble level (8.9% in 2000).

If you’ve represented many house hunters recently, you’re probably surprised that vacancies are high because relatively few homes are listed for sale. Even though inventory has been recently trending upward a bit, for-sale listings are still well below normal. The share of all for-sale homes each year (based on NAR inventory for June and Census total housing stock for Q2) peaked in 2007 but is now at lowest level since 2000.

That means there’s an inventory shortage, not a housing shortage. Despite the shortage of listed inventory, there are plenty of vacant homes NOT listed for sale. Many of those vacant, off-market homes could come onto the market, especially if their owners are just waiting for prices to rise enough to make selling worthwhile. This represents a significant opportunity for savvy agents to grow the listing side of their business as home values increase.

This graph tells the story visually:

Construction_HousingShortage_Chart

In short: the vacancy rate – or, the level of the bathwater – is still relatively high.

 

 2. Household growth is slow. Relatively few new households are being formed.
Household formation is lagging. As of 2013 Q2, annual household formation was 746,000 according to the Census, and household formation since 2007 has averaged around 560,000 annually – which is roughly half the normal rate of household formation of 1.1 million (depending on the data source).  In most years, new construction and household formation tend to be in sync: water typically flows in through the faucet and out through the drain at a similar rate. But in 2007 and 2008, after the housing bubble burst, there was a sharper drop in household formation than in new construction completions, as this chart shows:

Construction_NewHomesNewHouseholds_Chart

When more water comes in through the faucet than out through the drain – as in 2007 and 2008 – the bathwater level rises. That’s why the vacancy rate increased sharply in those years, as the chart in the previous section showed.

Why is household formation still so low? During the recession, many people doubled up with roommates or lived with relatives, including young adults who stayed in their parents’ homes.  Even now, years after the recession technically ended, young adults remain much more likely to live with their parents than before the recession. A big reason why this is happening is that the share of employed young adults is still closer to recession levels than to normal. In total, we estimate there are 2.4 million “missing households” – people of all ages who should be heading up their own households but are instead living with parents, roommates, or others.

In short: household formation is low, so the bath is draining slowly.

Nice story, but is low construction really that simple to explain?
No – it’s not quite as simple as that. Construction activity varies a lot across the U.S., and supply constraints matter too:

  • Local construction and vacancies: Each local market is actually its own bathtub. Vacant homes in Detroit can’t house families who live in Los Angeles. In theory, there could be a strong need for construction if economically thriving metros had few vacant homes, and vacant homes were concentrated in economically struggling markets. However, the ten metros with the most elevated vacancy rates today include not just struggling metros like Detroit and Cleveland, but also growing metros like Las VegasTampaCape CoralFort Myers FL, and Atlanta. (See note.) Even growing metros, therefore, don’t generally have a housing shortage – in part because many of these metros were overbuilt during the bubble.
  • Supply constraints: Builders have reported that a lack of buildable lots and other constraints are holding them back. In bathtub terms, a shortage of lots, construction workers, or financing is like a flow restrictor on the faucet. However, because the bathtub level today is high and is draining slowly, builders probably wouldn’t turn the faucet way up even if they could. It’s not that supply constraints don’t matter for housing: on the contrary, geographic features, building regulations, and other supply constraints contribute to the perennial affordability problems in San FranciscoNew York, and other cities. But the main reason why national construction today is well below normal is not supply constraints.

There is a strong upside to this bathtime story. Most young adults won’t remain out of work and live in their parents’ basements forever. They represent pent-up demand for housing, which – when unleashed – should push household formation up to and then above its long-term normal rate of approximately 1.1 million annually. That means the bathtub will start draining faster, causing the water level to fall. This will then cue builders to turn up the faucet by building more new homes. And only when that happens might we need to start worrying about a future housing shortage. Until then, let’s be more concerned about missing households than about missing homes.

Note: To estimate the change in vacancy rates by metro, we added together vacancy changes from the Census for 2000-2010, from the American Community Survey for 2010-2011, and from the U.S. Postal Service address file for 2011-2013. This yields the change in vacancy rate between 2000 and 2013. We used multiple sources because no one reports both current and historical metro-level vacancies, and each source defines vacancies differently.

The national household vacancy and household formation data come from the Census’s quarterly Homeownership and Vacancy Survey.

Jesse Storm Team REALTOR’s

4 Things Buyers Can Do To Minimize Surprise

When people say they hate surprises, it’s a little bit like when someone says they don’t like change. Most people actually love change and surprises – so long as the changes are pleasant or they perceive the surprises to be in their favor.  It’s really only unpleasant surprises that agitate, irritate and frustrate the average person.
This is true in life – and it’s certainly true in home buying.

If your agent surprises you with dozens of homes that have amenities far beyond your wish list for $50,000 below your budget, I’m sure you’ll find a way to make peace with that. But if you get a call from your mortgage broker the day before you have to bring in an extra $3,000 more than you expected, chances are good you’ll be disgruntled, at a minimum.

Fortunately, that means that there is actually a pretty short list of unpleasant surprises which threaten to sour your home buying experience.  If you can take a core set of actions to minimize the likelihood of this short list occuring, you’ll protect yourself against 90% of the unpleasant surprises and set your home buying experience up for success. Here are a few of those key surprise-prevention tactics that can take your fear of the unknown, unpleasant surprise down dozens of notches.

1.  Read everything.  It sounds basic – even obvious – to advise a home buyer to read their paperwork. It sounds basic, that is, until you’re in the midst of the process and are presented with literally hundreds of pages of documents to sign, sometimes over and over, and sometimes with a high sense of urgency.  For example, if you are in a hot market, you might have to make offers on 5, 10 or 15 homes before you get one that works for you. After the first few, it’s tempting to just start clicking away to sign the offer documents you’ve seen so many times before, without really reading the critical fine print before you send it back to your agent.

You wouldn’t believe the number of times I’ve seen buyers themselves spot issues or ask questions that illuminated a calculation problem or discrepancy between their good faith estimates and loan documents at closing – before their professionals even had a chance to review the documents themselves!  That’s the kind of buyer you want to be: don’t wait until you get a surprising mortgage statement in the mail two months after closing to spot errors, issues and miscalculations. While it is socially uncomfortable to feel like people are sitting across the table waiting for you to read things before you sign them, your agent, mortgage broker and escrow officer really and truly do not mind.  (And if they do mind, that’s really not your concern – read away anyway.)

Many buyers also neglect to read their HOA disclosures, detailed property inspection reports and natural hazard disclosure reports: all things which, if read, can prevent many major later surprises.

And while I’m calling out commonly un-read documents, I’d be remiss not to mention home warranty policies. Most smart buyers these days know they need a home warranty policy.  But without reading what is and isn’t covered, you do yourself a disservice. Many policies offer optional extra coverage for a small fee of items like appliances, pools and air conditioners – which would normally be excluded under a standard policy. As well, most policies require that you call the home warranty provider before any other service contractor if you hope to have repairs covered.  Reading your policy before you finalize it empowers you to avoid voiding your coverage by inadvertently calling another contractor first. It also allows you to max out the coverage on the items that matter to you – minimizing the chances you’ll be surprised by lack of coverage if and when the item later breaks down.

2.  Buy yourself time.
 Home buying in America in 2013 places buyers under a series of very tight timelines, deadlines and due-diligence-and-decision-making time frames.  You might only have 10 days from the time the seller accepts your offer to make a final decision about whether to do the deal, 30 days to close escrow and an hour at the closing table to review your loan documents and commit to what might be the largest financial decision you’ll ever make.

These time pressures can lead to costly shortcuts and errors. It’s easy to under- (or over-) estimate what all the items in your home inspection report will actually cost to repair. Of course, if you overestimate, you won’t have a later unpleasant surprise – but you might endanger your decision-making in other ways.

So, buy yourself some time.  Get out ahead of your inspection and document review contingencies by working with your agent to get them scheduled for ASAP after you get into contract. That will give you maximum time to schedule follow-up inspections with specialists like electricians, plumbers and other contractors if your home inspector calls out repairs you need to collect estimates and bids on.

If you blow through your inspection or loan timelines despite your most aggressive inspection scheduling and responsiveness to lender requests, don’t assume your only choices are to back out of the deal or plow ahead and take the risk of a later surprise loan problem or post-closing money pit. Talk to your agent about whether you might be able to literally buy yourself an extension of time on your loan or inspection contingencies. First, simply ask the seller nicely for more time. But if necessary, consider offering to release a small amount of your earnest money deposit to them in return for an extension of time. Releasing $1000 of your deposit to the seller to get more time is a much smaller, more sensible risk than the risk of removing contingencies now and forfeiting your entire deposit if your loan doesn’t come through later on.

You can and should also buy yourself more time to review the critical paperwork that will come your way during your home purchase. Ask your mortgage broker and agent to make sure you get any revised good faith estimates of your loan rates, terms and payments at least one day before you need to remove your loan contingencies – and let them know early and often that you’d like to see your mortgage closing documents at least one day before your appointment to sign them.

3.  Show up.  Home inspections have come a long way, baby.  It’s not at all unusual for them to be reported out in pdf form, and sent to the buyer via email within hours of the inspector’s site visit.  Today’s home inspection reports often include color pictures and easy-to-read, color-coded action item lists that pull out all the repairs and suggestions for further inspections into one handy list to help organize your contractor calls and home improvement store shopping lists.

But no matter how detailed, no matter how thorough your home inspection report is, a report can never replace the informational richness and nuances you’ll get if you actually attend the inspection in person.  Most inspectors will welcome you, give you a briefing and explanation of what they will be looking at, and what’s excluded from the inspection at the outset, and then check in with you throughout.  Many will point out to you issues and problems they find, so you can see them with your own eyes.

And they will also often do the invaluable service of showing you how to operate some home appliances and pointing out where you’ll find your emergency shutoffs for gas, water and electricity.

In addition to these need-to-knows, the human touch you’ll get if you show up to your inspection can help you and your agent evaluate, organize and prioritize any repairs or upgrades the inspector deems worth doing, including which repairs (if any):

  • you should ask the sellers to do
  • you should have your own professional do (i.e., so you can select your own materials, finishes, etc.)
  • you should request a repair credit or price reduction for
  • are very inexpensive or otherwise minor
  • you can do yourself
  • pose an actual health hazard or other danger
  • can wait until you have time and money to do them, and
  • which items you should have a professional handle, lickety split.


4. Do your own math, diligence and following-up.  
Your agent and mortgage broker might very well be the highest-paid professional advisors you’ll ever have. And, contrary to what some would have you believe, the vast majority of them put in serious work to earn their keep. Closing a real estate transaction requires a vast and varied array of skills.  But one skill most agents and brokers lack is this: mind-reading.  They have no way to know:

  • what numbers you’ve missed
  • whether your personal mortgage budgeting appropriately calculated for your children’s tuition, your retirement saving and your charitable giving
  • that you have a serious sensitivity to nighttime noise.

The home you are buying is your home, and the transaction is yours, too. It’s essential that you approach the purchase process with a commitment to delegating tasks versus abdicating all responsibility. Buyers who abdicate responsibility for reading documents, planning their own personal finances, reading reports and making sure all the follow-up inspections get scheduled and questions get answered often end up experiencing unpleasant surprises after contingencies are removed, at closing or even years into home ownership. They often express outrage that someone didn’t tell them X, point Y out or repeatedly emphasize Z.

The fact is, there are only so many things your agent can point out and warn you about, and these will generally be the things they know from experience to be important to the average home buyer. So if something is uber-important to you, you need to let them know it and take every measure you can to protect your own interests.  And there’s lots you can do. Show up at inspections, read documents before you sign them, do the math and then ask every single question and follow up every single qualm you have, until your concerns are satisfied.

Buyers: What surprises did you encounter, pleasant or otherwise, in your most recent home-buying experience?

Jesse Storm Team REALTOR’s

3 Rent vs. Buy Market Myths

rent-buy-calculator

Buyers are sometimes stunned at the number of potentially life-changing decisions and choices they are required to make over the course of a house hunt. This neighborhood or that one?  Condo or single family? Fixer or move-in ready? Is that the right house? How much to offer, and on what terms? When to make an offer?  Whether to remove contingencies?

And that’s just the short list.

But one of the most basic decisions real estate consumers ever make is the most impactful one, and it’s often one they make before they have the benefit of our expertise: whether to rent or to buy their home.

At Trulia, we recently released what has been called the most sophisticated Rent vs. Buy calculator ever – you can work with it and experiment with some of the inputs your average buyer client would likely use here. The calculator allows smart would-be buyers to understand the many economic factors that influence whether it is cheaper to rent or to buy in their area and more importantly, in their personal situation, including line items like:

  • how long you intend to stay in the home;

  • your income tax bracket;
  • mortgage down payment, term and interest rate;
  • property taxes;
  • closing costs or selling closing costs;
  • rental and homeowners insurance; and

  • utilities.

When buyers do come to you with assistance on the rent vs. buy decision, you might find the calculator helpful in showing them how their personal life and financial factors change the equation, and helpful in putting together an action plan that takes them to ready-to-buy with increased savings or a more conservative purchase price.

The calculator also makes it incredibly simple for you to help clients understand alternative scenarios by changing the mortgage rate, the income tax bracket for tax deductions, and the number of years that they plan to stay in the home.

We asked our Chief Economist Jed Kolko to help us understand the math – and the myths – around the rent vs. buy cost factors nationwide.  Here’s what he had to say:

Myth:  Rising home prices and mortgage rates make it more expensive to buy than to rent.

Fact: Homeownership remains cheaper than renting nationally and in all of the 100 largest metro areas. But rising mortgage rates have narrowed the gap between the cost of buying and the cost of renting.

The 30-year fixed rate is now 4.80%, compared with 3.75% one year ago (according to the Mortgage Bankers Association, or MBA). This jump in rates has raised the cost of buying relative to renting. As a result, buying is 35% cheaper than renting today, versus being 45% cheaper than renting one year ago.

The key reason buying is still cheaper than renting is this: both rates and prices are rising from very low levels and are still below their long-term historical norms. But the rent versus buy math depends on your local market, as rising rates and prices have pushed a handful of metros very close to the tipping point when renting becomes cheaper.

Myth: The mortgage interest deduction is the only reason home ownership is more affordable than renting.

Fact: A key factor affecting the rent-versus-buy math is whether you itemize deductions on your income taxes and what tax bracket you’re in. If you itemize, you can deduct mortgage interest payments (not principal payments) and property tax payments from your income before calculating how much you owe in taxes. That said, only 33% of tax filers choose to itemize. Itemizing lowers the cost of buying relative to renting – especially if you pay taxes at a higher rate, because that means you’re deducting more.

But buying remains cheaper than renting almost everywhere even if you don’t itemize. Without itemizing – or if your tax situation means you get no benefit at all from itemizing – buying looks 22% cheaper than renting nationally. And buying still beats renting in 97 of the 100 largest metros – everywhere but San Jose, San Francisco, and Honolulu, even without assuming that the buyer will itemize their taxes and use the mortgage interest deduction.

Itemize at 25% (baseline assumption)

Do not itemize

Cost of buying versus renting nationally

Note: Negative numbers indicate that buying costs less than renting.

-35%

-22%

Metros out of 100 where buying cheaper than renting

100

97

What is the national mortgage rate “tipping point”

10.5%

7.5%

Myth:  The increase in home prices, which is hyperlocal, will be the tipping point in making renting a home cheaper than buying, in most areas.

Fact: Actually, the biggest factor narrowing the gap between the cost of buying and the cost of renting is rising mortgage rates – which affect the entire country. In fact, the benefit of buying relative to renting shrank in nearly all of the 100 largest metros over the past year: only in Springfield, MA did the gap widen, from buying being 47% cheaper than renting last year to being 49% cheaper than renting today.

Nationally, rising mortgage rates account for about 8 points of the 10-point shift from buying being 45% cheaper than renting one year ago to being 35% cheaper now. The other 2 points are due to prices rising faster than rents. (How did we figure that out? If you used today’s prices and rents in the rent vs. buy calculation but used a 3.5% mortgage instead of a 4.8% mortgage, buying would be 43% cheaper than renting – 2 points less than last year.)

Because fluctuating mortgage rates can affect the rent versus buy math, we identified the mortgage rate “tipping point” at which renting becomes cheaper than buying, given current prices and rents. If rates keep rising, San Jose will tip first in favor of renting, at 5.2%. Already today, at 4.8%, buying is just 4% cheaper than renting in San Jose. The tipping point is below 6% in San Francisco and Honolulu as well, and below 8% in New York, Los Angeles, and seven other major metros.

Nationally, the mortgage rate tipping point is 10.5%, and it’s 20% or higher in Detroit, Gary, and Cleveland. Click here to download the full rent vs. buy cost considerations and mortgage rate tipping points for the 100 largest U.S. metros: (PDF) or (Excel).

1170 Forest Drive Abbottstown PA Foreclosure home for sale


$105,600

This home is under contract in less then 48 hours!

1170 FOREST DRIVE
Abbottstown, PA 17301
MLS# 212672 Foreclosure
3 beds  |  2 baths  |  1512 sqft



  1 / 38
Contract Information
List Price: 105600Status: Active
Existing/New: N
Property Information
Type of Property: ResidentialRealtor.com Type: Residential – Single Family
Lot Size(Dimensions): 174.5X314.8X92.1X305.7Total Acres: 1.02
Total Bedrooms: 3Total Full Baths: 2
Total Bathrooms: 2Fin SqFt Above Grade: 1512
Year Built: 1996
Location, Legal and Taxes
County: AdamsStreet Number: 1170
Street/Road Name: FORESTStreet Suffix: DRIVE
State/Province: PAZip Code: 17301
School District: OtherElementary School: Verify
Middle School: VerifyHigh School: Verify
APN #/Tax Parcel ID: 0117L09013000000Assessment: 150100
Municipality/Townshp: Out of RegionDeed/Ref #: 2968 0221
Deed Record Date: 2013-09-25
Directions & Remarks
Directions: Abbottstown Square turn onto N Queen St/Pa 194 immediately slight left onto Brough Rd.1 mile to left on Forest prop on RBank Owned/REO: Yes
Short Sale: NoCondo/HOA/PUD: No
Property Features
Stories: 1 Story
Design: Ranch
Type: Mobile/Mfg + Land
Construction: Stick Built
Exterior: Vinyl
Roof: Composite Shingles
Lot Description: Level
Lot Size: 1 Ac to LT 2 Ac
Zoning: Residential
Age: 11 – 20 Years
Dining Area: Breakfast Bar; Formal Dining Room
Miscellaneous Rooms: Florida Room
Interior Features: None
Misc Exterior: Above Ground Pool; Deck
Fencing: None
Basement: None
Heat: Propane
Auxiliary Heat: Wood/Coal Stove
Cooling: Central Air
Water: Well
Sewer: Public Sewer
Hot Water: Propane
Parking: 2 Car Garage; Detached; Off Street Parking
Access/Limitations: Public Road
ASC/Condo Fee Incl: None
Condo Amenities: None
Room Information
RoomFlooringRoom LevelLengthWidth
Living RoomWall to WallMain12.519.8
Dining RoomWall to WallMain9.712.2
KitchenVinylMain10.812.5
Bedroom 1Wall to WallMain13.912.45
Bedroom 2Wall to WallMain12.511.8
Bedroom 3Wall to WallMain108
Bath 1VinylMain
Bath 2VinylMain
SunroomWall to WallMain9.8815.3

Listing Office: Coldwell Banker Select Profs.

Office Phone: 717-735-8400

Last Updated: September – 26 – 2013

All information provided is deemed reliable but is not guaranteed and should be independently verified. Participants, and their affiliated licensees, shall indicate on their websites that IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2005 Keystone MLS Network, Inc.

Thursday 26th of September 2013 10:48 PM

Home for Sale York Pa 616 S Pershing Ave York Pa 17403

Home for sale York PA Seller is offering 6% seller help. With the Money you could qualify for from the city you could by this home no money down. Total remodel move in ready seller is also including washer dryer stove large garage great home.

Living Rm
L-
Dining Rm
L-
Fam Rm
L-
Den
L-
Kitchen
L-
Bdrm 1
L-
Bdrm 2
L-
Bdrm 3
L-
L-
Bdrm 5
L-
L-
L-
L-
Full
Half
Base
L-1
L-2
L-3
L-4
Feature Codes
Home Owner Fee Includes:
Assoc/Condo/Park Amenities:
Tax and Expense Data
Home Own Fee:
Fee Freq:
School Tax:
Municipal Tax:
Approx Yr Blt:
Deed Ref:
Items Reserved:
List Price:
MLS #
Neigh/Sub:
Municipality:
Elem Sch:
Stories/Level:
Finished SqFt:
Sch Dist:
Listing Courtesy of:
Sq.Ft. Source:
Abv Grd:
Blw Grd:
Unfinished SqFt:
Lot Dim:
Acre:
Rd Ftg:
Interm Sch:
High Sch:
Beds:
Full Bths:
Half Bths:
Directions:
Franklin Atlas:
Tax ID #:
Farm Features
Clean & Green:
Appx Wooded:
Appx Tillable:
County Tax:
Bdrm 4
Baths
Total:
Blw Grd:
Sold:
Contract Dt:
Settled Dt:
CC Pd By Seller:
Rp Pd Seller:
Financing:
To Be Built:
Sale/Rent:
Unit #
1
0
1
0
0
0
0
0
0
0
2195 3180
$69,200
08 Ward-York City
616 S Pershing
york
PA
17403
2.5 Story
1729
1729
0
0.0551
William Penn
3
2
Drive S on S. George,turn R on W.Cottage Pl,R on S.Pershey, Home on L
N
67081640400050000000
0
1729
Remodeled home with hardwood flrs,2 full BA. 6% seller help with acceptable offer. Home has a full Attic with a ceder Closet. This is a Restored home like in the 1930’S. Old world charm splashed with modern updates. Move in ready. Seller is motivated to sell this home this week. Bring your offer. Seller is also offering a $500.00 Gas Credit.
For Sale
$258
$1,161
1924
$1,922
No
End Unit
Semi-Detached
This information is deemed reliable, but not guaranteed. ©2013 REALTORS® Association of York and Adams Counties.
Map
ACT
York City
DESIGN
End Unit
CONST.
Stick Built
EXTERIOR
Brick, Cedar/Redwood
ROOFING
Asphalt Shingles
LOT DESC
Level, Clear, Fenced
PARKING
2 Car Garage, Oversized,
Detached, Off Street, On Street
HEAT
Natural Gas
WATER
Public Water
SEWER
Public Sewer
FIREPLACE
Living Room, Family Room
ITEMS INCL.
Washer, Dryer, Refrigerator,
Oven/Range
MISC. EXT.
Storm Windows
AUX. HEAT
Fireplace w/Insert
BASEMENT
Full, Outside Entrance
DINING
Separate Dining Room, Dining Area
LOT SIZE
Less Than 1/4 Acres
ROAD FRONT
Municipal Road
POSSESSION
Immediate, Settlement,
Negotiable
POSSIBLE FIN.
FHA, Conventional, VA
ZONING
Residential
ACCESS/LIMITATION
Public Road
OWNERSHIP
Fee Simple
CONDITION
Excellent
AGE
51+ Years
Jesse A Storm
jstorm@cbsp.com
Conta: (717) 735-6284
CB SELECT PROFESSIONALS
1000 N PRINCE ST
LANCASTER PA 17603
Office: (717) 735-8400
FENCING
Board

BING MAP VIEW
Num
Thumbnail
MLS #
Address
Schl Dist
Price
BR
FB
SqFt
D Center
1
21306529
616 S Pershing
York City
$69,200
3
2
1729
0
This information is deemed reliable, but not guaranteed. ©2013 REALTORS® Association of York and Adams Counties.
ALL FIELDS DETAIL

MLS #
21306529
Status
ACTIVE
Type
Residential/Farms
Address
616 S Pershing
City
york
State
PA
Zip
17403
School District
York City
Class
RESIDENTIAL/FARMS
List Price
$69,200
Sale/Rent
For Sale
IDX Include
Yes
Approx Tillable Acreage
Approx Wooded Acreage
Road Frontage
Total Fin SQFT Abv Grade
1729
Tot Fin SQFT Below Grade
0
Total Unfin SQFT Bel Grd
1729
Total # Bedrooms
3
Total Full Baths
2
Total Half Baths
0
Total Finished Square Ft
1729
GENERAL
VOW Comment
No
VOW Include
Yes
VOW Address
Yes
VOW AVM
No
REO/Bank Owned (Y/N)
No
Condo or Townhouse (Y/N)
No
Agent
Listing Office 1
Listing Agent 2
Listing Office 2
Listing Agent 3
Listing Office 3
Sub Agent Comm
3%
Buyers Agent Comm
3%
Transaction Licensee Comm
3%
Variable Commission
No
Listing Date
1/10/2013
Expiration Date
4/10/2014
Agent Hit Count
93
Client Hit Count
89
To Be Built
No
Stories/Levels
2.5 Story
County
York
Neighborhood/Subdivision
Elementary
Intermediate School
High School
William Penn
Lot Dimensions
Lot/Unit #
Franklin Atlas
ADC Atlas
York Co Parcel ID#
67081640400050000000
Adams Co Parcel ID#
Other County Parcel ID#
Municipality
08 Ward-York City
Clean & Green
N
Total Acreage
0.0551
SQFT Source
Sellers Name
Paul DeCaro
Living Room Level
Living Room Dimension
Living Room Description
-NOT USED-
Dining Room Level
Dining Room Dimension
Dining Room Description
-NOT USED-
Family Room Level
Family Room Dimension
Family Room Description
-NOT USED-
Den Level
Den Dimension
Den Description
-NOT USED-
Kitchen Level
Kitchen Dimension
Kitchen Description
-NOT USED-
Bedroom 1 Level
Bedroom 1 Dimension
Bedroom 1 Description
-NOT USED-
Bedroom 2 Level
Bedroom 2 Dimension
Bedroom 2 Description
-NOT USED-
Bedroom 3 Level
Bedroom 3 Dimension
Bedroom 3 Description
-NOT USED-
Bedroom 4 Level
Bedroom 4 Dimension
Bedroom 4 Description
-NOT USED-
Bedroom 5 Level
Bedroom 5 Dimension
Bedroom 5 Description
-NOT USED-
Other Room 1 Code
Other Room 1 Level
Other Room 1 Dimension
Other Room 1 Description
-NOT USED-
Other Room 2 Code
Other Room 2 Level
Other Room 2 Dimension
Other Room 2 Description
-NOT USED-
Other Room 3 Code
Other Room 3 Level
Other Room 3 Dimension
Other Room 3 Description
-NOT USED-
Basement Full Baths
0
Basement Half Baths
0
Level 1 Full Baths
1
Level 1 Half Baths
0
Level 2 Full Baths
1
Level 2 Half Baths
0
Level 3 Full Baths
0
Level 3 Half Baths
0
Level 4 Full Baths
0
Level 4 Half Baths
0
Total Baths
2
Directions From
Drive S on S. George,turn R on
W.Cottage Pl,R on S.Pershey, Home
on L
Search By Map
Update Date
9/20/2013
Open House Date
7/14/2013
Open House Time
1-3 pm
Off Market Date
GENERAL
Status Date
6/13/2013
HotSheet Date
9/20/2013
Price Date
9/20/2013
Input Date
6/13/2013 10:18:00 AM
Tax ID
Associated Document Count
0
Days On Market
253
Price/Ttl Fin SF
$40.02
Days On MLS
99
FEATURES
CATEGORY/USE
Semi-Detached
DESIGN
End Unit
CONST.
Stick Built
EXTERIOR
Brick
Cedar/Redwood
ROOFING
Asphalt Shingles
LOT SIZE
Less Than 1/4 Acres
LOT DESC
Level
Clear
Fenced
PARKING
2 Car Garage
Oversized
Detached
Off Street
On Street
ITEMS INCL.
Washer
Dryer
Refrigerator
Oven/Range
MISC. EXT.
Storm Windows
HEAT
Natural Gas
AUX. HEAT
Fireplace w/Insert
WATER
Public Water
SEWER
Public Sewer
BASEMENT
Full
Outside Entrance
DINING
Separate Dining Room
Dining Area
FIREPLACE
Living Room
Family Room
SHOWING INSTRUCTIONS
Lockbox
POSSIBLE FIN.
FHA
Conventional
VA
POSSESSION
Immediate
Settlement
Negotiable
ZONING
Residential
LISTING TYPE
Exclusive Right to Sell
AGE
51+ Years
ACCESS/LIMITATION
Public Road
ROAD FRONT
Municipal Road
CONDITION
Excellent
OWNERSHIP
Fee Simple
FENCING
Board
FINANCIAL
Original Price
$69,900
Assessment Value
$57,000
Deed Reference #
2195 3180
School Tax
$1,922
County Tax
$258
Municipal Tax
$1,161
Year Built
1924
Leased/As/Con/Pk Fee
Fee Frequency
Annual Heat
Annual Water
Annual Sewer
Annual Refuse
Annual Electric
Agent View Remarks
$1,000.00 Selling Bonus. for Selling
Agent House must sell and sell now
PUBLIC VIEW REMARKS
Remodeled home with hardwood flrs,2 full BA. 6% seller help with acceptable offer. Home has a full Attic with a ceder Closet. This is a Restored home like in
the 1930’S. Old world charm splashed with modern updates. Move in ready. Seller is motivated to sell this home this week. Bring your offer. Seller is also
offering a $500.00 Gas Credit.
SHOWINGASSIST INSTRUCTION
go and show combo lock box
ADDITIONAL PICTURES
DISCLAIMER
This information is deemed reliable, but not guaranteed. ©2013 REALTORS® Association of York and Adams Counties.
MLS NUMBERS
MLS #
21306529
This information is deemed reliable, but not guaranteed. ©2013 REALTORS® Association of York and Adams Counties
Home for sale in York brought to you by http://stormteamrealestate.com Another quality home for sale in York pa

What is the Best Day of The Week To List Your Home

T.G.I.F. One day of the week can mean an extra $5,000 in a home-seller’s pocket.

iStockOne day of the week can mean an extra $5,000 in a home-seller’s pocket.

Last year, homes listed on Fridays sold for 99.1% of the seller’s original asking price, the highest percentage of any day of the week, according to an analysis by real-estate brokerage Redfin.

Nailing the day that a home listing debuts is crucial, says Glenn Kelman, president and CEO of Redfin, which covers 19 markets in the U.S. “You get four times the traffic on the day of debut than any other time of the week, and you only get one chance,” he says. “Soon, you’re yesterday’s news.”

Listing a home on a Friday rather than a Sunday—the worst day to debut—could mean a difference of nearly $5,000 on a $500,000 house, Mr. Kelman adds. Homes listed on Sundays end up selling for 98.4% of their initial asking price.

Properties listed on Fridays also sell the fastest—81 days, on average, according to the Redfin analysis.

What makes Fridays so special (other than a six-pack and takeout pizza)? Adults who have a Monday-to-Friday workweek tend to be more positive and happier on Fridays, an effect that lasts through the weekend, says Richard Ryan, professor of psychology at the University of Rochester. They also tend to report more vitality and energy on the weekends, which may prompt them to be more proactive in searching for homes, says Prof. Ryan, who has studied how the day of the week affects mood.

Conversely, Sunday listings have to sit around for a few days before people start lining up home tours for the following weekend. By that time, newer listings may make Sunday listings seem stale, says Redfin’s Mr. Kelman.

One other day seems to dominate the real-estate world: Tuesday. Homes that are listed on a Tuesday garner the most interest for home tours, seeing 2.41 home-tour requests, on average, the Redfin numbers show.

Tuesdays are big planning days for many people, says Francesca Gino, associate professor of business administration at Harvard Business School. Productivity peaks at the beginning and end of the workweek, and so some may use Tuesday to nail down weekend plans for home viewings.

Of course, not all real-estate agents focus on Fridays and Tuesdays. Takk Yamaguchi, an agent at Town Residential in New York, lists about 70% of properties on Wednesdays or Thursdays. “That’s the sweet spot,” he says. He finds that many buyers seem to book their weekend home tours by Thursday afternoon.

In the end, Mr. Yamaguchi won’t hang on to a listing waiting for a specific day. Listing later in the week helps, he says, “but it’s not necessarily going to be a game-changer.”

What is the best day of the week to list your Home for sale.  FRIDAY

So what did you think of the story http://stormteamrealestate.com

Home for Sale Lancaster PA Price Reduced for Fast Sale

Home for Sale: 303 N RESERVOIR STREET LANCASTER , PA 17602

List Number207232List Price$ 99,000
Type of PropertyResidentialStatusActive
CountyLancasterTotal Bedrooms3
Total Bathrooms1.00Total Acres0.06
Total Full Baths1Year Built1937
Total Half Baths0Existing/NewE
Land Use CodeZoning (Free Form)
Loc/DevMun/TwnLancaster City
School DistrictLancasterFin SqFt Above1650
Fin SqFt Below0Unfin SqFt Above Grd
Lot SizeAssessment$ 89,700
Total Taxes$ 3,829.93County Tax$ 335.02
Municipal Tax$ 1,169.68School Tax$ 2,325.23
Elementary SchoolWickershamMiddle SchoolLincolnHigh SchoolMcCaskey
Franklin Map Page3173Franklin Map ColumnCFranklin Map Row04
APN #/Tax Parcel ID3362658600000Deed/Ref #5643262Short Sale
Bank Owned/REONo
Directions: East on Chestnut, L on to N Reservoir, Home on R.
Public Remarks: Home for sale with Hardwood Floors throughout, Fireplace, Formal Dining Room, 3 Bedrooms, C/A, 1 Car Garage, Move in Ready or Rent. Has Backup Heating System. Renter is moving out the end of Sept. Buy this home now at a rock bottom price. After Renter moves house Owner is going to rehab home if not sold. But owner will not sell for this price after Rehab.
Design: Traditional
Stories: 2.5 Story
Type: Semi-Detached
Condition: Very Good
Interior Features: Built-in Dishwasher
Dining Area: Dining Area; Formal Dining Room
Basement: Concrete; Partially Finished; Unfinished
Fireplace: Living Room
Items Incl in Sale: None
Heat: Electric; Forced Air; Hot Water/Radiators; Oil
Auxiliary Heat: Fireplace
Cooling: Central Air
Water: Public Water
Hot Water: Electric
Sewer: Public Sewer
Lot Description: Clear; Level
Lot Size: Less Than .25 Ac
Fencing: None
Parking: 1 Car Garage
Access/Limitations: Public Road
Age: 51 – 99 Years
Construction: Masonry; Stick Built
Exterior: Brick
Roof: Composite Shingles; Slate
Misc Exterior: Balcony; TV Antenna; Storm Doors; Storm Windows
Zoning: Residential
ASC/Condo Fee Incl: None
Condo Amenities: None
Miscellaneous: # Fireplaces: 1; # Off Str Prking Spc: 4;Electric Amps: 100
Financing: Conventional; Installment Sale; Lease Purchase; VA
Documents Available: Sellers Disclosure
Room NameRoom LevelDimensionsFlooringRoom Remarks
Living RmMain18 x 15Hardwoodfireplace
Dining RmMain18 x 12Hardwood
KitchenMain15 x 7Vinyl
Room NameRoom LevelDimensionsFlooringRoom Remarks
Bedroom 1Upper16 x 11Hardwoodlarge walk in closet
Bedroom 2Upper13 x 12Hardwood
Bedroom 3Upper18 x 15Hardwood
Bath 1Upper9 x 6Vinyl
 Home for sale in Lancaster PA
 Foreclosures for sale in Lancaster PA
Provided as a courtesy of
Jesse Storm

Coldwell Banker Select Profs.
1000 N. Prince Street
Lancaster, PA 17603
Office Phone – (717) 735-6284
Fax. – (717) 735-2207
Cell – (717) 917-1537
jesse@stormteamrealestate.com
http://www.stormteamrealestate.com

 

Information is deemed to be reliable, but is not guaranteed. © 2013 MLS and FBS. Prepared by Jesse Storm on Friday, September 20, 2013 12:40 PM. The information on this sheet has been made available by the MLS and may not be the listing of the provider.

Willow Street Rancher Home for Sale

Home for Sale: 341   PLEASANT VIEW DRIVE WILLOW STREET , PA 17584

List Number202061List Price$ 162,000
Type of PropertyResidentialStatusActive
CountyLancasterTotal Bedrooms3
Total Bathrooms2.00Total Acres0.22
Total Full Baths2Year Built1982
Total Half Baths0Existing/NewE
Land Use CodeAG-824Zoning (Free Form)
Loc/DevWillow StreetMun/TwnPequea Twp
School DistrictPenn ManorFin SqFt Above1429
Fin SqFt Below0Unfin SqFt Above Grd
Lot SizeAssessment$ 123,900
Total Taxes$ 2,835.44County Tax$ 462.76
Municipal Tax$ 235.41School Tax$ 2,137.27
Elementary SchoolPequeaMiddle SchoolMarticvilleHigh SchoolPenn Manor
Franklin Map Page3278Franklin Map ColumnEFranklin Map Row06
APN #/Tax Parcel ID5107285800000Deed/Ref #0000Short SaleNo
Bank Owned/REONo
Directions: RT 272, L on Penn Grant Rd., L on Pleasant View Drive Home will be on the Right
Public Remarks: This 3-4 Bedroom Rancher with Master Suite has been Family owned since new. Home has had numerous upgrades in recent years. Updated Kitchen, floors, master suite, heating and AC, roof, deck, large 11 x 15 shed, and many more things. Seller just installed new main bath sink and faucet.
Design: Ranch
Stories: 1 Story
Type: Detached
Condition: Excellent
Interior Features: Built-in Dishwasher; Cable TV Available
Dining Area: Country Kitchen; Eat-in Kitchen
Miscellaneous Rooms: 1st Floor Family Rm; 1st Floor Laundry Rm; 1st Floor Master Bdr; 1st Floor Bath; 1st Floor Bedroom; Den/Office; Master Bathroom; Walk-in Pantry
Basement: Concrete; Crawl Space; Sump Pump
Fireplace: Master Bedroom/Bath
Items Incl in Sale: None
Heat: Electric; Forced Air; Heat Pump; Propane
Auxiliary Heat: Fireplace w/Gas Logs
Cooling: Central Air
Water: Public Water
Hot Water: Electric
Sewer: Public Sewer
Lot Description: Clear; Level
Lot Size: Less Than .25 Ac
Fencing: Invisible Fence
Parking: 1 Car Garage; Off Street Parking
Access/Limitations: Public Road
Age: 31 – 40 Years
Construction: Manufactured-1976+; Stick Built
Exterior: Vinyl
Roof: Composite Shingles
Misc Exterior: Deck; Porch; Shed; Storm Doors
Zoning: Residential; Rural
ASC/Condo Fee Incl: None
Condo Amenities: None
Miscellaneous: # Fireplaces: 1; Electric Amps: 200
Financing: Cash; Assumable; Conventional; FHA; Rural Housing; VA
Documents Available: Sellers Disclosure
Room NameRoom LevelDimensionsFlooringRoom Remarks
Living RmMain20 x 14HardwoodGreat Hardwood Floors
Dining RmMain12 x 7Linoleum
KitchenMain14 x 10Linoleum
OtherMain17 x 12ConcreteGarage
Other Room 2Main8 x 7Linoleumwalk in Pantry
Room NameRoom LevelDimensionsFlooringRoom Remarks
Bedroom 1Main17 x 15Hardwoodcyling fan / Fire Place
Bedroom 2Main11 x 11Wall to WallLarge Closet
Bedroom 3Main9 x 11Wall to WallLarge closet
Bedroom 4Main8 x 9Wall to Wallalso could be office
Bath 1Main7 x 8Linoleumtub/shower combo and closet
Bath 2Main11 x 9Ceramic Tileshower and garden tube with jet’s
Provided as a courtesy of
Jesse Storm

Coldwell Banker Select Profs.
1000 N. Prince Street
Lancaster, PA 17603
Office Phone – (717) 735-6284
Fax. – (717) 735-2207
Cell – (717) 917-1537
jesse@stormteamrealestate.com
http://www.stormteamrealestate.com

 

Information is deemed to be reliable, but is not guaranteed. © 2013 MLS and FBS. Prepared by Jesse Storm on Friday, September 20, 2013 12:24 PM. The information on this sheet has been made available by the MLS and may not be the listing of the provider.

Foreclosure – 1023 Fairdell Drive Hummelstown PA New Listing

Foreclosure 1023   FAIRDELL DRIVE HUMMELSTOWN , PA 17036

Homes for sale Lancaster PA, Coldwell banker Select Professionals
Another Great home from Northwest Savings Bank Find foreclosures on our site every day.
List Number211713List Price$ 540,000
Type of PropertyResidentialStatusActive
CountyDauphinTotal Bedrooms4
Total Bathrooms4.00Total Acres2.37
Total Full Baths3Year Built1993
Total Half Baths1Existing/NewE
Land Use CodeZoning (Free Form)
Loc/DevMun/TwnDerry Twp
School DistrictDerry TownshipFin SqFt Above5300
Fin SqFt Below0Unfin SqFt Above Grd
Lot Size2.37Assessment$ 111,111
Total Taxes$ 2,875.18County Tax$ 764
Municipal Tax$ 160.73School Tax$ 1,950.45
Elementary SchoolVerifyMiddle SchoolHersheyHigh SchoolHershey
Franklin Map PageFranklin Map ColumnFranklin Map Row
APN #/Tax Parcel ID240831740000000Deed/Ref #000000Short Sale
Bank Owned/REOYes
Directions: From Hershey Med. 322w,L on Middletown Rd, L on Stoverdale Rd.changesto Kaylor Rd, L on Nottingham, L on Fairdell.
Public Remarks: FORECLOSURE AS IS. Cedar home close to Hershey
Design: Colonial; Contemporary
Stories: 2.5 Story
Type: Detached
Interior Features: Built-in Dishwasher; Built-in Microwave;Built-in Whirlpool; Cathedral Ceiling; Ceiling Fan(s); French Doors; Garage Door Opener; Garbage Disposal; Skylights;Trash Compactor; Wall Oven
Dining Area: Breakfast Bar; Country Kitchen; Eat-in Kitchen;Formal Dining Room
Miscellaneous Rooms: 1st Floor Family Rm; 1st Floor Laundry Rm; 1st Floor Bath; Den/Office; Expandable; Florida Room; Four Seasons Room; Foyer; Great Room; Laundry Room; Master Bathroom; Mud/Utility Room
Basement: Concrete; Full; Roughed-in Plumbing; Unfinished
Fireplace: Family Room; Living Room
Heat: Oil
Auxiliary Heat: Fireplace
Cooling: Central Air
Water: Public Water
Hot Water: Oil
Sewer: Public Sewer
Lot Description: Clear; Fenced; Level
Lot Size: 2 Ac to LT 4 Ac
Fencing: None
Parking: 2 Car Garage; Attached; Off Street Parking
Access/Limitations: Public Road
Age: 11 – 20 Years
Construction: Stick Built
Exterior: Cedar/Redwood
Roof: Composite Shingles
Misc Exterior: Balcony; Deck; Enclosed Porch
Zoning: Residential
ASC/Condo Fee Incl: None
Condo Amenities: None
Miscellaneous: # Fireplaces: 2; # Off Str Prking Spc: 6;Electric Amps: 400
Financing: Conventional; FHA; VA
Documents Available: Sellers Disclosure
Room NameRoom LevelFlooringRoom Remarks
Living RmMainWall to WallStone FPL, Opens to 2nd floor
Dining RmMainWall to WallFrench Doors
Family RmMainWall to WallStone FPL, Floor to Ceiling windows
KitchenMainCeramic TileSkylights
Laundry RmMainCeramic Tile
OfficeUpperWall to Wall
Room NameRoom LevelFlooringRoom Remarks
Bedroom 1UpperWall to Wall
Bedroom 2UpperWall to Wall
Bedroom 3UpperWall to Wall
Bedroom 4UpperWall to Wall
Bath 1UpperCeramic TileMaster Bathroom Suite
Bath 2UpperCeramic Tile
Powder RmMainCeramic Tile
LibraryMainCeramic Tile
 This is a Foreclosure

Homes for sale in Lancaster PA
Find all homes for sale in Lancaster County PA in one location. Free updated listings at your fingers. 17603, 17602, 17601 homes for sale and all surrounding areas
Provided as a courtesy of
Jesse Storm

Coldwell Banker Select Profs.
1000 N. Prince Street
Lancaster, PA 17603
Office Phone – (717) 735-6284
Fax. – (717) 735-2207
Cell – (717) 917-1537
jesse@stormteamrealestate.com
http://www.stormteamrealestate.com

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Matthew Steger, ACI
Owner/Inspector
ASHI Certified Inspector

WIN Home Inspection – “We See More. Clearly.”
Phone: 717-361-9467
Email: msteger@wini.com
Web: www.winhomeinspectionelizabethtown.com
Facebook: www.facebook.com/winhomeinspectionelizabethtown
LinkedIn: www.linkedin.com/in/matthewsteger/

2133 Andrew Avenue
Elizabethtown, PA 17022

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