Why Is The Market So Hot?

If you are looking for a home, you may be experiencing what we commonly see in 717 area code for short stretches. A couple of weeks. Maybe 30 days.

The difference now is we have had the pedal to the metal since mid-May. Why? If you read news reports --- the answer is that the interest rates are low. It is true that low interest rates can prompt an uptick in the amount of buyers. However --- I feel the real reason is simply low inventory.

A case could be made that more buyers than homes for sale *because* of the interest rates. Again - it's part of the equation. The real answer (my opinion) is even simpler. People like living here. They like their community. So much that a number of us just aren't moving.

Let's face it, we have had low interest rates for a long time. Polling my recent clients, some repeat reasons for moving included down-sizing, getting married (or the opposite), and job relocation to the Harrisburg area. Not one client I asked mentioned low interest rates as a reason they chose to pack up and move. When I brought it up they didn't really think it was a factor. What is a factor (though they may not have realized it) is that their buying power increased with low rates. Sort of. Values are up, and competition is strong.

Why should you care about this? Move when you want to. When the time is right. You want to live next to the creek. Great, make a move! Kids left home and you only need a condo or small home. Let's talk!

Something else to consider is many of us (not me!) spent so much time at home this summer, we realized we want to live in another house. Or maybe we finally fixed it up. We had time to *think* about moving down the road, up on the hill, or over by the lake. This may be a very big factor. But still --- people are moving within our community. There isn't a mass exodus across the PA border. Some, but not alarming.

Why is the market hot? Because you are comfortable here. What's that, you want to move to Hawaii? Forget everything I said. Let's talk this week :-)

Let's Go For A Walk: Meet the Wurbles

When's the last time you opened your front door and walked down the street for a cup of joe or to hit the gym? A number of people, especially those in the "717", can't do that. We live in the suburbs. The country. We drive to work, shop, and play. Some stats and news reports the last two years would have you believe that everyone is moving to the sticks. The truth is, I've never had so many people tell me they want to live in a community where they can walk or bike for shopping, exercise, work, school, etc ... Some things to consider if you find it appealing to be using your car less. This goes for both buying a home or renting. - Flirt with living in town . A novel idea! Take your pick, almost all of them have housing options that allow you to do a number of things on foot or two wheels. If sustainability is important to you, this is a homerun - Live near public transportation . The "717" doesn't have a subway, but options include the CAT bus,

Trails and Parks: Do They "Upgrade" Your Home?

I have a vested interest in the community where I work and live . When hearing about plans for a park or trail, I listen. Not only do I use them, I have seen the positive impact public outdoor space can have in local communities. Honest. Work experience influences how I think parks and walking trails affect a community. A deeper dive into the historical data complements my opinion. Being in the real estate business, I'm often (almost always) thinking about home values . There are many items that affect market value. Negatives may include: Deferred or neglected maintenance Shoddy workmanship Outdated kitchens and bathrooms Crime rate Proven positives: Smart home improvements Updated kitchens and bathrooms Professional landscaping Parks and trails Speaking of crime , the National Association of Realtors reports: " ....recent studies have confirmed living near trails and greenways will likely raise your property value an average of 3-5% and sometimes even as high as 15%. There

Housing Shortage or Thought Scarcity?: A Common Sense Proposal

Photo by Roberto Nickson from Pexels With low inventory, BOTH buyers and renters are having a challenging time getting into a home. A solution, one would think, is creating more available homes. A gut reaction would be to build big developments, with large homes or maybe a condo complex. But what if you could build a home on your current property and rent it out? I see small towns around me push back, and a common reason is "parking" . Meanwhile, a quick drive down their streets will show plenty of parking. And get this, the people that would shop in the now almost empty stores in their town wouldn't need to drive there - they would walk. Another pushback I hear is that a new structure will create too much non-permeable space . It's always an interesting thing to hear from a sector that listens and smiles - but does nothing - when I talk about clean water bills, riparian buffers, and other common sense solutions to a healthy local environment. The more I learn ab

717 Real Estate

Search This Blog