From: Robert Wagner
[Wags@AbeandWags.com]
Sent: Friday, July 09, 2010 11:15 AM
To: wags@abeandwags.com
Cc: abe@abeandwags.com
Subject: July 2010 Newsletter
July 2010 Newsletter
We’re trying to share more details more often with you on our Real Estate News Site Laurel Highlands Local.com! You can click on the links for the original update on just that topic or you can read the entire newsletter on our News Site! If you go to our News Site you have the opportunity to share your comments, thoughts and experiences! We hope you’ll set up an RSS feed from our News Site so that you can receive our updates WHEN events happen!
1. Market Overview: Buyers Bonanza!
2. Seven Springs: Market Update, Police being disbanded, Union efforts
3. Hidden Valley: Market Update
4. Local: Holiday Inn Express
5. State: Marcellus Shale $3million for 2 local transfers
6. National: Houselogic, Taxes
7. Team News: In TOP 250 of 30,000 for Client Satisfaction in USA
8. Market Snapshot: Real Time marketing updates for buyers and sellers
9. TEK TIP: Getting news updates when they are posted
1.Market Overview –NEVER HAVE BUYERS HAD THE PRICES, INVENTORY, AND INTEREST RATES THAT ARE NOW AVAILABLE AT BOTH RESORTS! After a ski season like we just had (historically) we see a jump in sales the following fall. Buyers recall the hassle of making the trip here (digging out of the driveway, hoping the roads have been cleared, forgetting ski gear, ect) and decide they should BUY NOW!
Stats for the first 6 months indicate sales just about even with last year sold resale transfers. Sold prices are inching up slightly at both resorts. This could be an indication that we may be at the bottom of the market! WHAT ARE YOU WAITING FOR?!
We want to foreworn you that even though interest rates are awesome, down payments are back to being the norm. And we’re not talking 5 or 10%. Before you begin looking at properties have a chat with your loan officer. If you are considering a condo (especially at Seven Springs) you should be talking to the Private Lending Department.
Inventory at both resorts continues to grow ensuring a strong buyers market. Selling or buying you really want to make sure that options are provided to you for sheltering your bottom line! The ONLY way to do that is to work with a DESIGNATED AGENT like us!
2. Seven Springs –Resale transfers for January 1 through June 30 are a tad below numbers for last year. In 2009 there were 18 sales recorded through the end of June, this year that number was only16. HEADS UP BUYERS! The average sales price showed a slight increase from $295,491 in 2009 and it’s now at $317,000. (Note these numbers are usually higher at the end of the year as more properties transfer.) Active listings continue to grow with the number still hanging around 100.
Police to “Disband” – Unless the Boro reverses its decision effective December 31, 2010 the Seven Springs Police department will cease to exist. Apparently Seven Springs Resort notified the department that their contract would not be renewed. Homeowners have a line item in their association budgets for police protection. There is a group of concerned homeowners that have been meeting reviewing their options. Keep up with their discoveries on our Blog.
Union Workers? – The Teamsters, Local Union #30 is
vying for all of the full time employees at Seven Springs. They’re collecting
cards to see if there’s enough interest. They have to have a minimum of 30% to
petition the National Labor Relations Board for a vote. Questions may be
addressed to Gino Bosetti, business agent, phone 724-527-1523 or e-mail teamsters30@Verizon.net .
3. Hidden Valley – The number of resale transfers (18) at Hidden Valleys for the first six months are dead even with 2009. Sold prices on this side of the mountain are also up slightly. They went from $183,839 in 2009 to $189,944 for 2010. (Note these numbers are usually higher at the end of the year as more properties transfer.) Inventory continues to climb and is right around 110 properties for sale.
Association Manager Resigns - Greg Baker turned in his resignation and the search for a replacement is ongoing. The committee is hoping to find someone soon!
Beautification Committee – Newly formed this group is really helping to make first impressions matter! Driving through the communities you’ll notice flower baskets on signage and plantings in focal points.
4. Local – Holiday Inn Express under construction in Donegal! You’ll notice the building going up when you exit 91of the PA turnpike and turn right to head to either resort. It’s on your left hand side across from the Laurel Highlands Campland. They have to put in their own sewage “packaged plant” as there is NO city system available.
Consider that this stretch of road is traveled by home owners at resorts, renters, and visitors headed to the Laurel Highlands! We’re sure that the Family Dollar Store, Rustic Lodge Furniture, and the new Holiday Inn Express checked out the traffic count before they opened their doors!
If you have an idea for these consumers to spend money or just need more room for your company, we have the space! Check out the Visual Tour on our listing at 3843 Rt 31. With over two acres of ground and frontage on both Rt 31 and School House Lane this building is ready for you to take possession!
5. State – Marcellus Shale We first started
bringing you information of these gas leases back in 2008! That’s when our
State REALTOR Association (PAR) had Attorneys Lester Greevy and Dale Tice from Tioga
County speak to our members. They specialize in these type of contracts. In
June we saw our first “Hydrocarbon Deeds.” These two transfers were both filed
in Jefferson Township (the Hidden Valley side of the mountain) and totaled over
3 MILLION DOLLARS!
It is all Greek to us! Both Grantee and Grantors are companies out of Texas. It appears that the grantee is getting just 23-25%! The transfer tax was divided among 16 different school districts! We’ll be posting one of deeds on our Blog if you’d like to take a look!
6. National – Houselogic.com Frustrated by the enormous amount of MISINFORMATION on the Internet concerning the process of buying or selling property the National Association of REALTORS created Houselogic. This site begins with 5 tabs at the top of the page, Improve, Maintain, Engage, Taxes & Incentives, Finances & Insurance, and News and Activity. Under each tab you’ll find subcategories that take you into greater detail about the topic you’re investigating. Read it and leave or build a binder with projects that you’ll see through from start to finish!
For over 100 years the REALTOR Association has championed home owner rights. When you become a FREE member of Houselogic, NAR may ask you to partner on issues or legislation that may impact you as a homeowner. It’s up to you whether to participate in these causes.
Here’s a BIG reason why you should consider logging in NOW! Our National Association is bracing us for tax changes looming on the horizon! Wouldn’t you like to know when there may be a vote on capital gains or the mortgage interest deductions so that you could contact your Representatives? If so make sure you sign up! Remember the people in DC work for us. Hearing from us allows them to best represent their constituents!
7. Team News – In February we received the QSC Platinum Service Award for 2009. This top award is presented in recognition of earning 100% client satisfaction!! The Quality Service consumer website offers these ratings and client comments for prospective clients to review when trying to pick an agent to entrust their real estate needs.
Now we’ve been notified that out of 22,000 other QSC agents in the country our team is in the top 250 for 2009! Our QSC rating of 4.98 out of a possible 5 qualifies us for such recognition. This is the only recognition in the real estate industry based on INDEPENDENTLY VALIDATED CUSTOMER SATISFATION SURVEY RESULTS.
8. Market Snapshot We started offering this valuable resource in January and many of you are NOW watching the market in real time! On a monthly basis this program updates YOU on properties for sale, properties sold during the past 3 months, days on market and much more! The actual feed for the source is from the West Penn MLS.
Remember, it won’t tell you the variables in the market place such as MARKET ABSOPTION, condition, floor plans, or stats from way back! All critical information you should have in your hands BEFORE buying or selling! That’s why we are still around! To try out the Market Snapshot program go to www.LaurelHighlandsHomeValues.com.
9.Tec Tip 
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Robert
" Wags" Wagner
Past President, WRA, PA CRS, PA CRB
CRB, CRS, GRI, OA, e-PRO, RSPS
Resort, developments, and fine homes specialist
Prudential Preferred Realty
3802 State Route 31, Suite 1
Donegal PA 15628
Office
800-419-7653
Cell 412-551-1859
Fax 724-593-6123
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