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Trulia Sees Softening Prices

William (Matt) Kellam — Tue, 20 Jul 2010 20:52:00 GMT

Trulia.com (www.trulia.com), smart real estate search to help you make better decisions, today announced that 24 percent of listings currently on the market in the United States as of July 1, 2010 experienced at least one price reduction. This represents a nine percent increase from the previous month. The total dollar amount slashed from home prices was $27.3 billion and the average discount for price-reduced homes continued to hold at 10 percent off of the original listing price.

Many of the largest U.S. cities saw significant increases in price reduction levels this month with 22 of the top 50 cities across the U.S. experiencing price reduction levels at 30 percent or more, compared to just 10 cities in the previous month. Minneapolis leads the way with 40 percent of its home listings experiencing at least one price cut. This is the third straight month that Minneapolis has held the top spot and no other city has reached the 40 percent mark since Trulia started tracking home price reductions in April 2009. With an average discount for price-reduced homes at nine percent, the city’s total dollar amount slashed from home prices was $30.1 million.

“Sellers are feeling the heat this summer as the economic recovery simmers down and home inventory levels climb,” says Pete Flint, co-founder and CEO of Trulia. “We’re seeing more and more sellers reduce their home listing prices to attract potential buyers, who definitely have the upper hand in negotiations this season. The slow start to the summer season is a major concern that we are heading towards a double-dip in the second half of this year.”

June 2010 Market Stats

William (Matt) Kellam — Mon, 19 Jul 2010 21:23:00 GMT

June, 2010	2009	2010	Change
New Listings	223	251	12.60%
Closed Sales	117	138	17.90%
Pending Sales	110	121	10.00%
Median Sales Price	$175,000	$165,000	-5.70%
Percent of Original List Price Received at Sale	90.90%	91.20%	0.03%
Average Days on Market Until Sale	135	123	-8.70%
Single-Family Detached Inventory	935	1018	8.90%
Townhouse-Condo Inventory	296	297	0.03%

Some of the figures referenced in this report are for only one month worth of activity. As such, they can sometimes look
extreme due to the small sample size involved. Does not include seller concessions.

Year to Date	2009	2010	Change
New Listings	1315	1523	15.80%
Closed Sales	526	637	21.10%
Pending Sales	622	709	14.00%
Median Sales Price	$165,000	$152,050	-7.80%
Percent of Original List Price Received at Sale	91.0%	90.8%	0.02%
Average Days on Market Until Sale	130	130	0.0%

May 2010 Market Statistics for Franklin County

William (Matt) Kellam — Fri, 11 Jun 2010 14:06:00 GMT

May, 2010	2009	2010	Change
New Listings	218	227	4.10%
Closed Sales	92	116	26.10%
Pending Sales	123	85	-30.90%
Median Sales Price	$162,500	$157,000	-3.40%
Percent of Original List Price Received at Sale	93.20%	91.00%	-2.40%
Average Days on Market Until Sale	113	149	31.60%
Single-Family Detached Inventory	921	1006	9.20%
Townhouse-Condo Inventory	314	315	0.30%

Some of the figures referenced in this report are for only one month worth of activity. As such, they can sometimes look
extreme due to the small sample size involved. Does not include seller concessions.

Year to Date	2009	2010	Change
New Listings	1092	1271	16.40%
Closed Sales	409	495	21.00%
Pending Sales	512	602	17.60%
Median Sales Price	$162,250	$150,000	-7.60%
Percent of Original List Price Received at Sale	91.0%	90.6%	-0.3%
Average Days on Market Until Sale	129	132	2.7%
Single Family Detached Inventory
Townhouse-Condo Inventory

May statistics from MRIS.

Open House in Southampton Township on Sunday

Sheena Snyder — Thu, 10 Jun 2010 12:07:00 GMT

Southampton Township, Shippensburg - We invite everyone to visit our open house at 15 Feather Dr on June 13 from 2:00 PM to 4:00 PM.

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Open House in Southampton Township on Saturday

Sheena Snyder — Tue, 08 Jun 2010 12:55:00 GMT

Southampton Township, Shippensburg - We invite everyone to visit our open house at 15 Feather Dr on June 12 from 2:00 PM to 4:00 PM.

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Open House in Chambersburg on Sunday

William (Matt) Kellam — Mon, 07 Jun 2010 14:15:00 GMT

Chambersburg, Franklin County - We invite everyone to visit our open house at 700 Highland Ave. on June 13 from 2:00 PM to 4:00 PM.

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Open House in Penn National on Saturday

William (Matt) Kellam — Mon, 07 Jun 2010 14:14:00 GMT

Penn National, Fayetteville - We invite everyone to visit our open house at 3854 Farmstead Drive on June 12 from 2:00 PM to 4:00 PM.

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2 Story For Sale in Stony Point

William (Matt) Kellam — Thu, 20 May 2010 18:12:00 GMT

• 3,506 sq. ft., 3 bath, 4 bdrm 2 story "Colonial" - MLS® $259,000

Stony Point, Shippensburg - Excellent value in Stony Point community outside of Shippensburg. 4BR, 2.5 bath brick and vinyl colonial on a cul-de-sac with lots of great features including: in ground pool, finished basement with possible fifth bedroom or office, finished recreation/laundry room above the garage with deck and steps to the backyard, covered patio, hardwood floors in the kitchen/dining area, and large island/breakfast bar. The home offers gas forced air heat and central air and nine ceiling fans. Lots of home in a great location with plenty of privacy to the rear. Call us to schedule your appointment to see this well priced home!

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April 2010 Market Statistics

William (Matt) Kellam — Wed, 12 May 2010 14:43:00 GMT

April, 2010	2009	2010	Change	Year to Date	2009	2010	Change
New Listings	229	295	28.80%	New Listings	874	1044	19.50%
Closed Sales	91	144	58.80%	Closed Sales	317	373	17.70%
Pending Sales	102	173	69.60%	Pending Sales	390	519	33.10%
Median Sales Price	$155,500	$149,950	-3.60%	Median Sales Price	$161,000	$150,000	-6.80%
Percent of Original List Price Received at Sale	90.60%	90.80%	0.20%	Percent of Original List Price Received at Sale	90.3%	90.5%	0.2%
Average Days on Market Until Sale	140	121	-13.20%	Average Days on Market Until Sale	133	128	-4.2%
Single-Family Detached Inventory	926	972	5.00%	Single Family Detached Inventory
Townhouse-Condo Inventory	319	286	-10.30%	Townhouse-Condo Inventory

Some of the figures referenced in this report are for only one month worth of activity. As such, they can sometimes look extreme due to the small sample size involved.

MRIS changed their format this month to include more pertinent information such as inventory numbers split between single family and townhouse-condo. While the sale numbers are showing improvement, the median sale price is continuing to decline. Nationally, that number has bottomed and has started to turn around in some markets, so we might also expect to see that decline bottom this year in our area.

Please feel free to comment or contact us for any clarification.

Open House in Guilford Hills North on Sunday

William (Matt) Kellam — Tue, 11 May 2010 11:58:00 GMT

Guilford Hills North, Chambersburg - We invite everyone to visit our open house at 164 Guilford Drive on May 16 from 1:00 PM to 4:00 PM.

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Open House in Laurich Hill on Sunday

William (Matt) Kellam — Mon, 10 May 2010 16:47:00 GMT

Laurich Hill, Chambersburg - We invite everyone to visit our open house at 137 Jameslee Drive on May 16 from 2:00 PM to 4:00 PM.

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Open House in Greencastle on Saturday

William (Matt) Kellam — Mon, 10 May 2010 16:46:00 GMT

Greencastle, Franklin County - We invite everyone to visit our open house at 10689 Scenic View Dr. on May 22 from 2:00 PM to 4:00 PM.

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March 2010 Market Statistics

William (Matt) Kellam — Tue, 13 Apr 2010 19:04:00 GMT

	2010	2009
Total Sold Dollar Volume:	$ 16,654,165	$ 15,994,750	4.12 %
Average Sold Price:	$ 164,893	$ 168,366	- 2.06 %
Median Sold Price:	$ 150,000	$ 160,000	- 6.25 %
Total Units Sold:	101	95	6.32 %
Average Days on Market:	145	149	- 2.68 %
Average List Price for Solds:	$ 188,148	$ 189,550	- 0.74 %
Avg Sale Price as a percentage of Avg List Price:	87.64 %	88.82 %

Statistics from MRIS Franklin County PA, March 2010.

Open House in Guilford Hills South on Sunday

William (Matt) Kellam — Fri, 09 Apr 2010 18:43:00 GMT

Guilford Hills South, Chambersburg - We invite everyone to visit our open house at 289 Briar Lane on April 18 from 1:00 PM to 3:00 PM.

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Open House in Waynesboro on Sunday

William (Matt) Kellam — Sat, 03 Apr 2010 12:00:00 GMT

Waynesboro, Franklin County - We invite everyone to visit our open house at 8464 Stottlemyer Rd. on April 11 from 2:00 PM to 4:00 PM.

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2 Story For Sale in Borough of Shippensburg

Sheena Snyder — Sat, 03 Apr 2010 02:36:00 GMT

• 1,328 sq. ft., 1 bath, 2 bdrm 2 story - MLS® $140,000

Borough of Shippensburg, Shippensburg - Nice starter home, conveniently located close to Shippensburg University. Fenced in backyard and off-street parking with carport. 2 Bedroom, 1.5 bath with an extra room upstairs that would make a great office or nursery.

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Open House in Chambersburg on Sunday

William (Matt) Kellam — Fri, 02 Apr 2010 19:06:00 GMT

Chambersburg, Franklin County - We invite everyone to visit our open house at 1364 Frank Road on April 11 from 2:00 PM to 4:00 PM.

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Open House in Scotland Run on Saturday

William (Matt) Kellam — Fri, 02 Apr 2010 16:32:00 GMT

Scotland Run, Chambersburg - We invite everyone to visit our open house at 3229 Portrait Way on April 10 from 2:00 PM to 4:00 PM.

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Open House in Scotland Run on Sunday

William (Matt) Kellam — Fri, 02 Apr 2010 16:32:00 GMT

Scotland Run, Chambersburg - We invite everyone to visit our open house at 3229 Portrait Way on April 11 from 2:00 PM to 4:00 PM.

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1 1/2 Story For Sale in Chambersburg

William (Matt) Kellam — Tue, 30 Mar 2010 15:58:00 GMT

• 1,376 sq. ft., 3 bath, 3 bdrm 1 1/2 story "Craftsman " - MLS® $135,000 - Short Sale

Chambersburg, Franklin County - Just some cosmetic tlc and this charming borough home can be a gem. Large main level with three bedrooms, the smallest of which would make a great nursery. Carpeted but hardwood floors are underneath. The upstairs has heat and has been drywalled but not finished so is not included in the square footage. Full basement. There is a detached garage with parking on one side and storage on the other. The large backyard backs to CASHS.

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Open House in Fayetteville on Sunday

William (Matt) Kellam — Sun, 28 Mar 2010 20:45:00 GMT

Fayetteville, Chambersburg - We invite everyone to visit our open house at 210 Hartzell Dr. on April 11 from 1:00 PM to 3:00 PM.

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Open House in Guilford Hills North on Saturday

William (Matt) Kellam — Sun, 28 Mar 2010 20:41:00 GMT

Guilford Hills North, Chambersburg - We invite everyone to visit our open house at 164 Guilford Drive on April 10 from 2:00 PM to 5:00 PM.

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Open House in Chambersburg on Saturday

William (Matt) Kellam — Wed, 24 Mar 2010 15:00:00 GMT

Chambersburg, Franklin County - We invite everyone to visit our open house at 8612 Pa Harry Dr on April 10 from 1:00 PM to 3:00 PM.

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10 Tips for Staging Your Home to Sell

William (Matt) Kellam — Fri, 19 Mar 2010 14:37:00 GMT

RISMEDIA, March 19, 2010—(MCT)—Want to sell your home? Get out the bucket, mop and Mr. Clean. The key to making a positive first impression is simple, said Sandra Rinomato, host of HGTV’s popular “Property Virgins” show.

“Get it clean, clean, clean,” said Rinomato. “If your house isn’t clean, it instantly sends up negative thoughts that the home is not well maintained. If your house is spotless, you’re ahead of the game,” she said.

But don’t stop there, advised Rinomato. To increase your chances of making a sale, “stage” the house to make it as attractive as possible. Until recently, “Staging meant pulling out all the stops—setting the dining table with your best china and crystal, arranging flowers, lighting candles,” she said. “Now we take the minimalist approach. Basically, you want to strip the house to its bare essentials, depersonalize it so potential buyers can superimpose themselves and their lifestyle on the house.”

Rinomato offered the following tips for staging a home:

1. Visit model homes and examine shelter magazines for inexpensive decorating ideas. Always keep in mind you are not decorating for yourself but for the general public.

2. Start with the outside. Give the house a fresh coat of paint, add shiny hardware to the front door and plant a few flowers to send a subliminal message the house is loved and well cared for.

3. Declutter every room to make it look larger. Get rid of family pictures, trophies and knickknacks. Closets and drawers should be no more than 30% full.

4. Invest in eco-friendly but bright lights. Open the drapes or remove them completely. “Light, bright rooms give the impression this is a happy place—and everyone wants to move into a happy place,” said Rinomato.

5. Feature only a few pieces of furniture with mainstream appeal. Pull pieces away from walls to make rooms look bigger.

6. Make sure a room’s primary use is obvious. A bedroom should look like a bedroom, not an office, hobby center or gym.

7. Bedrooms and kitchens are difficult to stage because they are in daily use, but make the effort. Clear everything off the counters and nightstands, roll up the rugs and hide the laundry hamper. Buff the cabinets with car wax and clean under the sinks. Invest in pristine white bed linens and towels.

8. Minimize the “pet effect.” Remove food bowls and litter boxes to the utility room. Deodorize thoroughly.

9. Organize the utility room and garage. Hang up the bicycles, roll up the hose. Renting a storage locker is worth the cost if it helps you sell faster and for a higher price.

10. Once your house is staged, invite your friends or Realtor over and walk them through to get an objective opinion.

USDA Out of Money

William (Matt) Kellam — Thu, 18 Mar 2010 18:53:00 GMT

Lenders stopped accepting USDA applications today as the agency has run out of money! According to one lender, this is the earliest this has ever happened and couldn't happen at a worse time. USDA was only one of two 100% financing vehicles left with the other being VA. It will be interesting to see how long it takes Congress to react and re-fund the program.