You are on the private e-group of Adrienne "Abe" Wagner and Robert "Wags" Wagner, REALTORS of Prudential Preferred Realty, Laurel Highlands Office, Donegal PA, in the Laurel Highlands of SW PA, USA. If this message comes to you in error our apologies. Please let us know and we will clear you from this group. This update is not an attempt to solicit the offerings of other brokers and is for informational purposes only. All opinions are ours alone.

Thank you to all who enjoy our updates! Always know that we do post these updates on our Newsletters Page on our website www.ABEandWAGS.com so if in the future we may seem to be late please check our site, your spam system may be blocking our message.

1. Overall Local Market - If you'd really prefer NOT to pay Association Fees and would love to do as you please with your property then consider something outside of Seven Springs and Hidden Valley resorts. You are sure to find a selection of properties for under $200,000. This is the first year in long time that there are multiple properties that have water frontage on one of the many protected streams, runs, and creeks that flow thru our mountains. Here is a link to 1534 Glades Pike in Bakersville, just minutes from Hidden Valley and with 858 stream frontage. And there are some parcels that offer views too! Please keep in mind though that WITHOUT the Association you could very easily end up with unsightly neighbors! Contact us for more details.

2. Seven Springs - As the amenities continue to grow so does the price of food, beverages, and accommodations! We recently had lunch at the Seven Springs coffee shop, split the special (hamburger), had 4 cheese sticks, 2 non alcoholic drinks, and spent 26 bucks with a decent tip. We're seeing smaller portions to go along with these new numbers! The menu of adventure options continues to expand (gravity bike park, Frisbee golf, 6 pack chair on Gunnar, etc) while still being under a Nemacolin price tag.

Will the price increases filter down to compensation or benefits for employees? It is going to be very interesting to see how Human Resource reacts to REAL competition from Hidden Valley for employees. For traveling time people living in Mount Pleasant or Somerset (the two closest towns) have a much easier (as in straighter) and shorter drive to Hidden Valley. Benefits could play a big part in signing up the best and brightest!

Shooting Range - Mike Mohr, internationally known in the sport shooting community, brought Wag's up to date on the plans for the new shooting facility at Seven Springs, located near the airport. Tours will be available during October on the weekends. The final facility will be finished after ski season and will feature a 5000 square foot lodge with restaurant. At this time there are plans for a 5 stand for the winter season. WoodRidge resident Ted Coleman has shot there several times and tells me this will be a first class facility and a BLAST!

SOUTHWIND - MARKETING WORKS! Phase Three is now sold out. It's interesting that it is being marketed as the "Final Phase." Not sure what happened to the proposed condo hotel. What will be even more interesting is where the next development will be located (our guess is Saltlick Twp) and how they will position the new starting prices!! The answer will have a direct impact on the existing resale properties throughout the resort. You can sign up for details on the new developments on their web site.

Our first Southwind resale (only one other one recorded so far) closed in September. To fill it's place check out our next two offerings,112 Southwind Dr and 113 Chipmunk Court. Do it in person on October 14 or Oct 21 at our OPEN HOUSES from 1-4 PM (No Steelers conflict!). Both overlook the mountains and Chipmunk Lake.

Note that these numbers include ALL recorded transfers in the 4 major associations at the resort. Reviewing our last update you'll see that three more months of recorded sales are telling a slightly different story about this market. The average listed price of 37 active listings (excluding Southwind) comes out to $330,584. That's the under $400,000 recorded sales price in the above graph which you can see is starting to slow down. When you analyze numbers there are many variables that need to be weighed before a determination can be made concerning which way the market is heading. Especially with the resort market historically being at it's strongest, the second half of the year. We don't expect to see any super buys between now and December!

3. Hidden Valley - We can now OFFICIALLY WELCOME the Buncher Group holding title as Buncher Resort and Hospitality, Building Exchange Company and Buncher Company. Court house recording was September 5 in three separate deeds. (No wonder it took so long!) Adding it up their new land acquisition totals APPROXIMATELY 1,500 acres. Buncher Resort and Hospitality got the sales building, groomers shed, ski building, ski lifts, pump house, ski operations building, snow making, exterior lighting, house and farm house ~245 acres for $435,000. Building Exchange Company, a Virginia Corporation, has title to ski lodge, conference center, maintenance buildings, sports club, inn, pool house, tennis courts, and real estate office ~109 acres for $4,500,000. Buncher Company is now the proud owner of ~1,285 acres containing the sewage treatment, golf course, club house, maintenance storage building, restaurant, maintenance facility and trailer, ski patrol house, barn and rental, store and fruit market, log cabin, multiple Four Seasons condos, Black Cherry lot, and 721 mineral acres. Total deal was about $12.5 Million.

Their approximate land total now adds up to around 2,300 acres. They had their new web site up and running the day the sale hit the press. Make sure you check it out. Ski passes are $375 for adults. They have an e-mail sign up for their future announcements. The old site is still out there and it looks as though several real estate parcels were retained by Hidden Valley (Westview lots and Westridge townhomes). Structuring the deal in three parcels was announced when the resort first went up for sale. Our question is why the diversification in ownership by Bunchers. There are tons of possibilities, financing, future resale, plans for future development. Which, reading on, you will see are abundant!

This quote is from their press release where they first highlight the existing amenities and then, "in addition to being the home of 1,200 residents with a PERMITTED MASTER PLAN FOR ADDING 1,800 MORE VACATION HOMES, CONDOMINIUMS, AND TOWNHOUSES ALL WITHIN the resort." On top of their plans to develop "an upscale gated residential and golf community on property they own immediately adjacent to Hidden Valley fronting along Route 31." This is the old plan that we've discussed before.

How this company positions it's price point for real estate sales and consumer draw will impact our local economy, sales in and around the property, as well as (like it or not) the Seven Springs market. We hear there should be a restaurant open before the snow flies. With the infuse of money into repairs, updating, and moving forward, changes are already happening! Including JOB FAIRS!

What a difference three months have made! The average listed price here comes in at $284,798. Yes these numbers are looking better and we believe the trend will continue! Working for sellers we believe in appreciation and making a profit. HOWEVER if you intend to buy we cannot stress enough how important it is to your pocketbook that you are working with a dedicated BUYER's AGENT. In short that means the agent you are working with IS NOT THE LISTING AGENT! Here's why we feel so strongly about this advice.

Yes some of the differences are due to location, size, condo, town home, and or single family. BUT some of these offerings are in the same community. Keep in mind that an appraiser will only use comparable sales within the past year. We certainly expect prices and amenities to grow as Buncher begins to work their magic. Eventually resale values will have to compete with the new housing products that are soon going to be offered. NOTHING is going to happen overnight so there is still a window of opportunity for you to take advantage of the these prices!

4. Local - Out of the Fire Cafe recently opened their doors in the barn complex on Rt 31. You pass it on your way to either resort if you exit in Donegal. Specializing in smoked salmon they offer a refreshing alternative to the sandwich joints. Wraps, salads, and killer desserts means you need to give them a try! Call ahead at 724-593-4200 to have something ready to pick up on your way up. www.OutoftheFires.com

5. State - True or False? The majority of buyers at both resorts come from outside of Pennsylvania, especially the DC area. FALSE. It is the biggest misconception we deal with! Using our home owner data base for mailing we researched by states. Here are the results. 76+%, in both resorts, came from right here in PA!! NO OTHER AREA was even in double digits! Here's how the rest faired. Our list totals 1,142 for Hidden Valley and 1,030 for Seven Springs.

6. NATIONAL - Many would argue that a type of subprime mortgage has always been around through the government subsidized programs. Several years ago the concept was packaged and made available to just about everyone, even if you had NO MONEY. Many intelligent people believed that their homes would continue to appreciate and had NO worries or concerns about what the economy might do to their loan or to their daily budgets. Their home was used like an ATM machine and no longer was it considered the nest egg of their future. BIG Culture Shift.

How this effects our buyers and sellers is because of the defaults (people walking out on their homes) financial institutions have become MUCH MORE strict about how a buyer qualifies for a loan. If there are fewer buyers in the market, fewer homes will be sold, which in turn increases the inventory of properties on the market and has a negative impact on pricing.

Statistically both resorts have not been impacted by this trend so far. That's not to say we will not be in the future. There is a ripple effect to this market condition and we'll have to wait and see just how far reaching it will go. Jim Cramer of Mad Money told the public NOT TO BUY A HOUSE FOR AT LEAST A YEAR. We say shame on him! Just make sure you are working with an agent that can show you comparable PAST SALES!

7. Local tips and tricks:Autumnfest weekends mean UGLY traffic tie ups on our mountain. Here is our SECRET BY PASS for the traffic. Leaving Seven Springs, go 1 mile west, TR on Firetower Road toward Seasons View Plan, go 3 miles, TL on Route 31 to the turnpike to PGH, this a gravel road with great views but your car may get dusty. OR, from the front gate go 6 miles west, TR on Roaring Road, TR at first stop sign, TL on Route 31 to turnpike. Both routes will bypass the Champion and 711/31 traffic jams. For Hidden Valley very easy, stay on Route 31, this will bypass all stop sign and intersections to the Donegal Turnpike exchange.

8. Team News: July 23 Golf outing SUPPORTS OUR TROOPS PAYS OFF : As President of the Westmoreland Realtors Association Wags choose to send support packages to our local Military serving overseas as his charitable effort. Thanks to the participants of the golf outing ( Erin Mikolich, Chair) we have sent 33 boxes of over $2000 worth of requested items to our local troops serving in Afghanistan or Iraq. Should be a bonus day when the get them. We bought out the local WalMart winter hunting supplies. GREAT DAY.

9. Tec Tip: As members of the Real Estate Cyber Society we publish a neat newsletter with technology topics each month. This month offers a FREE utility tool to better remove programs, Consumer Price Index calculator, search engine for phone numbers, and a download book store. Enjoy!

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	2007	2006	2005
<100	0	0	4
101-200	5	11	17
201-300	15	14	14
301-400	12	20	10
401-500	6	11	2
>500	25	13	0
Totals	63	69	47

	2007	2006	2005
<100	5	10	31
101-200	32	26	53
201-300	11	13	22
301-400	5	4	9
401-500	0	1	3
>500	0	0	0
Totals	53	54	118

AREA	HV	%	7S	%
PA	885	77	778	76
MD	107	9	72	7
OH	49	4	75	7
VA	37	3	40	4
WV	7	%	16	2
FL	15	1	9	%
DC	5	%	3	%
OTHER	37	3	37	4