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Traditional Real Estate vs. Help-U-Sell

I want to share a true story with you that recently took place.  I received a call from a former seller whose home I had listed several years ago asking for my help.  Her home had still not sold and she wanted me to list the home again, which I gladly did.  You might relate to the story she told me.  While I had the home listed, the owner was in the process of building and was trying to time the market so she could move once.  As such, she was not very motivated and when she didn't get any offers in the six months I had the home listed, she fired me and went to a traditional real estate company.  She relisted at the same price and was with the agent for the next year and a half! Next she went to an auctioneer, spent money to advertise the auction, and held open houses only to have the auctioneer tell her there was not enough interest to hold the auction.  So, it's back to a traditional company at a lower price for another six months with the same results. 

So, she came back to Help-U-Sell.  How will the story end?  I hope I will be able to say that it will end with the sale of the home.  But, for those of you who think having the big name companies sign in your front yard guarantees success in selling your home, think again.  And before you offer to pay someone a large chunk of the equity in your home, call us!  

Open House in Findlay Park on Sunday

February 2010
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Findlay Park, Mercersburg  -  We invite everyone to visit our open house at 240 Overhill Dr. on February 14 from 2:00 PM to 4:00 PM.

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Changes to FHA Lending

Seller help is being reduced from a maximum of 6% to 3%.
The up front mortgage insurance premium that gets rolled into the mortgage is being raised to 2.25%
from 1.75%
Down payment is remaining the same at 3.5%
This means that with the maximum seller help of 3% the buyer will need 3.5% down plus an additional
1-2% to cover the remaining closing costs. Borrowers will need more money or more gift.

Duplex For Sale in Scotland Run

3229 Portrait Way

• 1,561 sq. ft., 2 bath, 3 bdrm duplex - MLS® $225,900

 -  In Scotland Run close to conveniences, you'll enjoy care free single level living in this spacious duplex. Open floorplan with hardwood throughout the main area. Full, walkout basement with rough in for future finishing. 3 bedrooms, 2 full baths, and 2 car garage. Covered deck to enjoy the .62 acres. Monthly HOA covers lawn, snow, maintenance, and insurance. Simplify your living!

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Bi-Level For Sale in Mountain Shadow

3873 Mountain Shadow Circle

• 1,762 sq. ft., 2 bath, 4 bdrm bi-level - MLS® $175,000

 -  Well maintained bi-level home on a corner lot in Mountain Shadows. Convenient location and nice features including four bedrooms, 2 full baths. nice deck on the back with stairs, new shed added in 07, central air just two years old, garage has been finished, double hung-tilt windows added in 06, and more. All appliances convey including washer/dryer. There is also an ADT security system in place. Large family room on the lower level as well as the laundry area. Additional storage on lower level as well. Ready for new owners!!

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December 2009 Market Stats

    2009  2008  
Total Sold Dollar Volume: $ 12,895,579$ 13,656,154 - 5.57 %
Average Sold Price:$ 165,328$ 187,071 - 11.62 %
Median Sold Price: $ 166,000$ 176,900 - 6.16 %
Total Units Sold: 7873 6.85 %
Average Days on Market:110126 - 12.70 %
Average List Price for Solds:$ 184,143$ 208,703 - 11.77 %
Avg Sale Price as a percentage of Avg List Price:89.78 % 89.63 %

Here's the final monthly report of the year.  As expected, the number of homes sold dropped from November, due in part to the original end date of the first time homebuyer tax credit.  We continue to see lower prices of the homes that are selling in comparison to the asking price. 

Year end numbers will be posted soon as well.

November 2009 Franklin County Market Stats

  2009   2008   % Change
Total Sold Dollar Volume: $ 20,001,531$ 11,368,886 75.93 %
Average Sold Price:$ 165,302$ 180,459 - 8.40 %
Median Sold Price: $ 165,000$ 162,000 1.85 %
Total Units Sold: 12163 92.06 %
Average Days on Market:134112 19.64 %
Average List Price for Solds:$ 181,270$ 196,268 - 7.64 %
Avg Sale Price as a percentage of Avg List Price:91.19 % 91.94 %

There was finally some solid good news in November based on the number of homes sold.  It's hard to tell how many of these were the result of the tax credit plus last November was not a great month, but we're happy to take good news from anywhere at this point.  Pending sales for December are weaker, as you might expect, and the number of homes on the market is still over 1100 but with the tax credit being extended and expanded and interest rates still low we're hopeful for a better winter than last year. 

Any time you have questions about market conditions and how Help-U-Sell can help you save the equity in your home, feel free to call or email.

October 2009 Market Stats

Finally, a bit of good news from the market in October.  Total number of homes sold was up along with the dollar volume but the median price fell again which is indicative of higher priced homes continuing to struggle to sell.  With the extension of the tax credit and expansion to cover other buyers, we'll see what effect that has in the coming months.

        2009   2008  
Total Sold Dollar Volume: $ 20,945,041$ 16,707,355 25.36 %
Average Sold Price:$ 177,500$ 168,761 5.18 %
Median Sold Price: $ 159,950$ 164,900 - 3.00 %
Total Units Sold: 11899 19.19 %
Average Days on Market:133136 - 2.21 %
Average List Price for Solds:$ 197,713$ 184,452 7.19 %
Avg Sale Price as a percentage of Avg List Price:89.78 % 91.49 %

2 Story For Sale in Chambersburg

58 Cornertown Rd

• 2,839 sq. ft., 3 bath, 4 bdrm 2 story - MLS® $899,000

 -  Welcome to this magnificently restored 1864 farmhome on nearly 15 acres overlooking the trout rich Conococheague stream. Perfect for the gentleman farmer, bring your horses or cattle and enjoy the breathtaking views of the meadow and stream. Enter through the tree lined circular driveway. The home has been upgraded with modern conveniences such as the kitchen with granite counters, cherry cabinets, and Sub-Zero, Bosch, and other upper end appliances. All windows are Marvin Infinity Fiberglass. There is central air,propane forced air, and heat pump. The original hardwood floors are in place and have been refinished. The hardwood on the third level was taken from a building on the property. The great room features two wood burning fireplaces at either end of the room. There is also a den/office and sunroom on the main level. Three bedrooms and the main bath are on the second level. The master bath features a Jacuzzi tub and steam shower. The laundry has been moved upstairs for convenience so one bedroom could be used as a craft or computer room. Two additional rooms and another full bath are on the third level. The all brick exterior has been professionally landscaped and there is a large patio off the kitchen with a goldfish pond. The 40x80 bank barn has great potential and there's a detached 4 car garage that opens on either end.
The property has been sub-divided and is being offered as home and barn with approximately 11 acres. Owners will consider selling the additional building lots.
Fantastic opportunity to own a piece of Franklin County history. Call us to schedule your tour.

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Colonial For Sale in Saddle Ridge Estates

99 Bridle Hill Ct.

• 5,288 sq. ft., 5 bath, 5 bdrm colonial - MLS® $389,000

 -  The space you need at a great price. Fully finished on three floors, the "Harvard" model has over 5,200 finished square feet of space including an incredible master suite with sitting area that measures 37x30 total. The main level of the home features a large kitchen with morning room addition, breakfast bar, and informal dining area. It opens to the family room which has a gas fireplace. Also on this level is the formal dining room, living room, den/office, and laundry room. The lower level is completely finished with a media room with surround sound speakers built in, a large recreation room, and exercise room with lots of storage. The basement walks out to the backyard where there is a basketball court. The upper level has five bedrooms and three full baths. The master suite also has a large walk in closet, shower, and garden tub. There is a laundry shoot from the master. This home also features upgrades like central vac. and a security system. A great value in any market.

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Colonial For Sale in Antietam Commons

12450 Jackson Dr.

• 1,950 sq. ft., 4 bath, 3 bdrm colonial "End Townhouse" - MLS® $175,000

 -  Lovely end unit townhome in Antietam Commons. Built in 2008, this home has been gently lived in and the owners have finished a family room/office and added another half bath on the entry level. The main level features a large living room and open kitchen/dining area. There is an additional half bath on this level. Upstairs are three bedrooms including the master suite. Enjoy the convenience of the location of this home. Just off Rt. 16, great for commuting to Maryland or working locally. Close to shopping as well. Give us a call today to take a look!

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BiLevel For Sale in Fieldcrest

Pretty!
Better Than New Home in Fieldcrest!

• 1,885 sq. ft., 3 bath, 3 bdrm single story - MLS® $195,000

 -  Like New 3 Bedroom, 2 & 1/2 Bath Home in Fieldcrest...just minutes to town and I81. This home features brick and siding exterior; large partially covered deck off the dining room; side loading- finished 2 car garage w/ workshop area ; ceramic tile foyer & landing; Seperate laundry w/ half bath, spacious Master Bedroom w/ ensuite bath- jet tub and walk-in closet. One more large Full Bath on main level, huge family room on lower level w/ sliding glass door to your generous corner lot. Eat breakfast on the kitchen island with plenty of room for stools! Suprising contemporary open floor plan! Take a personal tour today!

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September 2009 Market Statistics

  

  

2009

  

2008  

Total Sold Dollar Volume:

 $ 18,102,358

 $ 17,518,403

 3.33 %

Average Sold Price:$ 167,614$ 184,404 - 9.10 %
Median Sold Price: $ 164,500$ 174,900 - 5.95 %
Total Units Sold: 10895 13.68 %
Average Days on Market:143125 14.40 %
Average List Price for Solds:$ 184,108$ 202,217 - 8.96 %
Avg Sale Price as a percentage of Avg List Price:91.04 % 91.19 %

Statistics from MRIS month end report......  The glimmer of good news was the fact that we saw positive numbers on the number of homes that settled in the month vs. last year.  This is the first month since July 2008 that has happened.  The number we need to beat for October is 99. We're also seeing a trend up in the number of homes that are under contract.  The down side is that median home prices are still sliding. The first time homebuyer credit will end November 30 and is essentially over at this point, meaning those that have not put a contract on a home by now are not likely to get in under the wire.    

Open House in Chambersburg on Sunday

October 2009
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Chambersburg, Franklin County  -  We invite everyone to visit our open house at 1364 Frank Road on October 18 from 1:00 PM to 3:00 PM.

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Manufactured Home For Sale in Chambersburg

1585 Mark Dr.

• 1,568 sq. ft., 2 bath, 3 bdrm manufactured home "Doublewide by Clayton" - MLS® $124,900

 -  No ground rent here! 1999 Clayton doublewide with over 1,500 square feet of living space on .33 acre home site just outside the borough. Features include 3BR, 2 Full Baths, Family room with a working fireplace that has never been used, Living Room, and Kitchen with an island and breakfast bar. Laundry room off the kitchen, washer and dryer are included. Full deck on the back of the home. Storage shed also included. Home is located on a cul-de-sac.

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