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. Properties referred to are those listed or represented by our team and do not represent all properties in market area. 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 so if in the future we may seem to be late please check our site, your spam system may be blocking our message.

1. Market Overview Don't let the news scare you into thinking that there is no mortgage money out there!! Every bank we have talked with has money and is eager to lend it to YOU! The two different markets we talked about in August have merged! Using the market absorption rate formula both resorts are NOW showing up as buyer's markets! The formula uses the past 12 month sales and existing inventory to determine how long it will take to sell the current listings. The only segment that is still showing as a seller's market are the properties under $200,000 at Hidden Valley.

What we do know is that even when interest rates were at 20% we were still selling properties. This is just another cycle and if you are a buyer you should be here! Think about it, would you rather be in stocks or real estate right now?! At least with property you can see it, touch it, and USE IT! Remember we are still only an hour or so drive for most of you to escape too! Both resorts are owned by companies with deep pockets that continue to make major improvements in infastructure and amenities. This may be your best time to get in at the RIGHT price at either resort. If you are selling, our aggressive marketing and pre sale coaching and preparation program allows you to realistically plan your sales strategy.

2. SEVEN SPRINGS: One caveat to remember is that home owners at Seven Springs have always seemed to manage their money well. That is why you seldom see foreclosures or tax sales. Just because the stats are showing that there is a buyer's market here doesn't mean that the sellers will readily give into it! Increasing inventory and the Hidden Valley market will continue to push down on prices.

Speaking of inventory it's nearing 100 at 88 active listings. We have to wonder if the old market models will hold true for this unique time in history or if we'll see a whole new pattern emerge. Time and recorded transfers will tell and we'll be there collecting the data! Here are the third quarter recorded transfers for both NEW AND RESALE properties. Best deal on the mountain right now, slope side H7 in SunRidge at $225,000, 2 bedrooms, 2 baths. Last one went for $290,000 in 2007.

October had two transfers that caught our eyes as Kettler Forlines sold the real estate and construction town homes in WoodRidge to Seven Springs Resort Realty, LLC. Yes, they were still set up as offices and that could be why 9067 transfered at $240,000 and 9068 was at $285,000. The last town home in WoodRidge transfered at $360,000 in September! It will be interesting to follow as the Villages Declaration, Section 21 states clearly, "No lot or residence shall be used for any purpose other than single-family residential purposes..." This sets a precedent and who knows what other business ventures home owners may have on their minds!

3. Hidden Valley: The economy has even caught up here. The first half of the year was sizzling and now Hidden Valley is also dealing with a buyers market in properties ABOVE $201,000. Even with all of the wonderful improvements that Buncher has made and plans to continue to make the numbers are down for what is historically the busiest sales time of the year. Take a look.

Inventory continues to grow and now stands at 46. Square footage is higher and prices are still way below comparable offerings at Seven Springs. E-mail Abe at ABE@ABEandWAGS.com to find out how your property fits into this market or call her at 412-897-8535.

SKI ALLIANCE: SO the first joint venture offering season pass holders more bang for their buck goes to Hidden Valley and Wisp . Yes, we were hoping to see this type of offering with resorts in PA first but hey it’s a start! They're both offering discounts on passes but it ends on October 31!! Our BLOG has more details!

Here’s how it works. If you have a an “unlimited Season pass” at either resort you will receive “ONE complimentary full day NON-holiday lift ticket with a 50% discount off regularly priced lift tickets for additional visits to the other resort. Available Sunday through Friday (NO SATURDAYS).”

Let's see how they stack up. Hidden Valley (according to their web site) has 700 vertical feet with 28 runs covering 140 skiable acres. That’s all serviced by one quad, two triples, three doubles, two surface lifts, and four rope tows with handles. Snowboarders are welcome on all runs and in the terrain park.

Wisp Mountain Resort offers 32 slopes and trails with a total of 132 skiable acres, and 700 feet of vertical off a 3,115-foot summit. You’ll find two quad chairs, five triple chairs, three carpets, and four surface tows servicing the trails. We were very impressed with the resorts support on their web site of their Ski P atrollers!

4. Local Activities: Family Dollar Store The areas first National store is under construction! When you get off of the turnpike headed to either resort go .9 miles and it’s on your right. Yes, we have McDonald's, Subway, and the gas stations at the turnpike entrance but this is the first stand alone store that is a Fortune 400 company! The store sizes run between 7,000 and 10,000 square feet which includes both the sales area and stockroom. Family Dollar is not a grocery store but does carry snacks, clothes, and household products. It’s a convenient location for anyone traveling to either resort in case you've forgotten anything! Plans are to be open for the holiday season.

5.Homeowner Tips for safe guarding your second home. Where ever your second home is located following these tips could save you thousands! First ALWAYS, when leaving, turn OFF your main water line. You'll most often find it located by your hot water tank. There are two sides to this advice. You certainly do not want to be gone for a week, walk up to your door and wonder WHY there is water underneath it!! Most often nobody notices until you get there and find a water line has broken. The second part is being a good neighbor, especially if you're on an upper floor, water will find it's way to the lowest point!!

Heat. The safest way to go is to keep your thermostat set at 55 degrees or higher and keep the cabinet doors open that expose water pipes. Keep blinds closed for additional insulation and set your ceiling fans in slow rotation to push air down. Improve your door seals or replace. Replace any compromised glass as it has the insulating ability of a piece of cardboard. Get your furnace serviced and filters changed, you should have gotten a $10 discount card from us for this service from www.Trimboliheating.com or mention our name. Chimneys and flues should be serviced yearly to avoid flue fires.

6.State: PA Gaming Commission Completes Resort Slot Licensing Hearings: So sorry for all of those speculators out there as Hidden Valley is not one of the two resorts! Valley Forge Convention Center Partners, L.P. and Bushkill Group, Inc. (Fernwood Hotel & Resort) are the two applicants. The license permits a maximum of 500 slot machines in well-established resort hotels. The Board can award both licenses, one, or neither! So there could still be hope depending upon the outcome! We'll keep you posted.

7. National: Gas Leases: At our state REALTOR meetings last month we had the opportunity to sit through a session on gas leases. The power point presentation was provided by Greevy & Associates, 1460 Washington Blvd., Williamsport, PA 17701 570-326-6561. Our biggest lesson learned was that sub-surface rights (under ground) always trump surface rights. Next biggest was that title searches are only required to go back 60 years and that most gas leases were recorded in the 1800’s!! Buyers always take a property SUBJECT to the lease.

This session highlighted terms of the gas lease and what buyers, sellers, and agents, should be considering! More info can be found on our BLOG or our consumer friendly Pennsylvania Association of REALTORS site. Check it out!

Vote: All we are going to say about the election is, please VOTE! No matter who is elected it will take all of us being more diligent in conveying our wishes to our local representatives to move our economy forward. One site we have found useful is called fact check which is supposed to be an unbiased analysis of the candidates messages. There are so many issues that have a global impact that whom ever is elected will need our support. Get out and Vote!

8. Rental Department at Prudential: Not ready to purchase yet? A great way to get a good feel for the area is by renting a place. Erin and Mike Mikolich have the program up and running! If you are looking for weekdays, weekends, or seasonal rentals ON OR OFF either resort call today!! They tell us you will be pleasantly surprised at the rental rates! You'll be able to find these properties at REALTOR.com under the zip code of the area where you want to stay. Shoot Erin an e-mail at EMikolich@prudnetialpreferred.com or give them a call at 800-419-7653 for more details.

9. Team News: November will see us in Orlando for our National REALTOR convention. We'll be there on election day as our organization heads into it's second century of existence in a state that has really been slammed economically. We always thought that 20% interest rates would be our biggest challenge! Wags has been selected as a member on the Resort and Second Home committee and Abe will be on her second year with the International Operations Committee. Abe is also an NAR Director for Pennsylvania and on the National CRB Board of Directors.

10. Tek Tip: As members of the Real Estate Cyber Society we have a Monthly Newsletter with really neat Internet tips and tricks. This months tips are sites that evaluates the financial strength of your bank, a free Body Mass Index calculator to see if you are healthy, Googles new internet browser Chrome, and an international MD list for overseas travelers. Enjoy!

We appreciate your feedback or questions. Please ask for Abe or Wags personally. Feel free to forward this newsletter in entirety to any other interested parties.

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Price	2008	2007
<200	1	3
201-300	0	2
301-400	1	4
401-500	0	3
>501	10	8
Totals	12	20

Price	2008	2007
<200	7	18
201-300	1	5
301-400	2	3
401-500	0	0
>501	1	0
Totals	11	26