Market Conditions in 17404>Question Details

RGRDC, Both Buyer and Seller in York County, PA

Is the Market Really that bad in York County?

Asked by RGRDC, York County, PA Tue Feb 26, 2008

I just finished reading an article in the Patriot News (Harrisburg area), which stated that York County has the one of the worst foreclosures rates in this area. This is starting to make me somewhat nervous.

My wife and I began the process of building a new home closer to my job in the Harrisburg area. Long days and a total commute time of almost 3 hours per day finally got to me. However, this would be the first time we ever sold a home when the market conditions were not considered a sellers market. Our current home is in the “Twin Pines / Pine Springs” area. In the past few years we built a large garage, replaced the siding & windows, installed a 95% efficient gas furnace not to mention many other upgrades. In 2006 homes in the area were selling between $189,000. & $219,000. Now in 2008 I don’t see homes selling at all. However, I did notice that the homes on the market in our neighborhood are not updated.

So is the market really that bad here in York County?

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Answers

5
Hi - Sw...Absolutely NOT - in fact the recent stats showed that York and in Particular Northern York area had over 15-20% increase in sales price but lower sales volume...

This is typical in this kind of market - Lower than usual volume and still an increase in sales prices etc and values in general. PA Statewide just had 2-3% (depending on who you talk to) growth last year - that's right 2007 when the Nation had -3% Growth...

Go back to your Agent / Broker (or contact a Realtor you trust) and DOUBLE CHECK THE CMA Values to see if there are threats or allies in the area currently on the market. GO SEE THEM ALL - if you need to (or your Realtor could?) and check for upgrades etc.

If in doubt get an appraisal! Now let's look at this picture a little broader here for a moment...

If you can beat down the current sellers in the market when you buy and offset your PERCEIVED VALUE LOSS on your sale end you can start to see that it could balance out in your favor???...
Get a good set of strategies and counter strategies in this market my friend...Hope this helps!
0 votes Thank Flag Link Fri Apr 11, 2008
It sounds like you got some very good advice here. Price is key for sure! The homes that are priced right, especially within the last few weeks, are selling fast. Good luck, let me know if I can help!

John
0 votes Thank Flag Link Sat Apr 5, 2008
I believe the market is back to normal. In 2006 we were seeing some home prices rise by 25% something I never saw in 15 years in Real Estate. In 2006 some lenders were lending money to buyers who really should have not been buying or at least not the price they were approved for therefore home values went way up because there were a flood of buyers who could now buy, this is one of the reasons we are now seeing all these forclosures. Homes are now taking longer to sell and need to be priced not only by what has sold but by what is available. One change has really helped you, most buyers do not want to do any work at all and will pay more than homes that need work. Realtors need to work harder and smarter in today's market and I would recommend you speak to 3 Realtors before you decide who should list your home.
0 votes Thank Flag Link Wed Feb 27, 2008
Price is the main key. Your home sounds wonderful. and I am sure you have put lots of heart and soul into it When you list your home the best thing to do to insure a sale have it priced correctly from the start. Internet exposure is very important. (I place my listings on twenty differant web sites.) This way Your home can be viewed by anyone with internet anywhere!! Good Photos. Lots of room sizes and brag it up. The more info the better. You maybe selling to someone in CA. Buyers are online now. most have seen your home before they step inside.
0 votes Thank Flag Link Wed Feb 27, 2008
To be honest with you, pricing the home correctly is the best thing you can do to insure that your home sells. It sounds like you have a nice home and have done a lot work to it. Any home will sell as long as it stands out, gets noticed with proper advertising, and most importantly, is priced correctly.
0 votes Thank Flag Link Wed Feb 27, 2008
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