Easton PA Real Estate - Easton, Nazareth, Bethlehem

If you live in the Lehigh Valley and you have young children you may be interested to read on. The Regal Theatres offer a free family movie festival - each week they offer two movies for free for the kids!

Here is the lineup for the Regal on Route 248 in Easton PA.

The movies start at 10:00 AM and run on Tuesdays/Wednesdays and are on a first come basis. If you search the PA Regal Link here you will find out all the information you need for showtimes/dates and theatre locations in PA. My children enjoy getting to the movies and who can complain when it FREE!!!!!

Easton Real Estate Market Update for April to May 2008 -

Sales were up 4.2% for this month,  however the average sale price was down 5.2% from April, dropping from 229,000 to 217,000.  The average time on market increased from 67 to 68 days during this month.

The average sale price compared to list price was 97%, which held consistent from last month.

If you think the real estate market continues to be slow your right. Sales in the Easton PA and Lehigh Valley Pa area are have dropped 22% from May of 2007 with a larger drop of 38% from May 2006. In May of this year there were 517 homes sold in the Lehigh Valley, with an average time on market being 68 days, an increase of 17 days from 2007. The majority of homes sold in May of 2008 fell in the range of 150,000 to 200,000. Homes continue to sell at 97% of list price which is the same as it was last year!

Why does the houseing market continue to be slow? The most obvious reasons include:

Mortgages are harder to come by and require a larger down-payment as well as better credit.

Not enough buyers for the number of homes available.

Slowing economy affects jobs and feelings of security which leads to a “sitting duck” outlook.

Home prices spiked over the last 10 years and buyers are waiting for the all time price correction.

Sellers have a hard time letting go of their home for less then what it was worth over 2 years ago.

If your watching and waiting, your not the only one. Homes do sell, in fact we have 3 closings this month, but it often times takes the right combination of price, condition, marketing, location and lets admit it a little luck to find the right home and to sell your home. We would be happy to chat if you have questions or just need clarification on whether or not its the right time for you to enter the market. Feel free to give us a call anytime! With over 22 years combined experience we have lots of insight we are willing to share to help you make the right choice.

Jill and Ron Fuhrer 484-241-5186

www.northampton-homes-online.com 

Check out our website for more info!!!!!

As we enter the traditionally busy season of spring/summer the market is picking up some here in the Nazareth PA area.

In Nazareth we had 49 active listings, 56 new listings, 28 sales and 14 under agreement. The average sale price was 278,000.

The average time on market was 67 days, a decrease from 73 days from March.

For the Nazareth School District area we saw that 4.7% of homes listed sold during April. The 2 year average is 9.7% with the low of 3.95% of homes sold during the slowest month of December 2007.

Finally, we had an average supply of 18.9 months supply of inventory for the month of April. This number is in line with the national numbers and reflects the trends locally as well as nationally.

On a personal level, Ron and I have been busy with both buyers and sellers. The buyers we see have been around for many months and are taking their time, waiting for the right home at the right price and being very selective about which homes they put offers in on. Some homes are moving.. as we saw 4.7% of homes exactly. This means competition is still alive and thriving. In order to get that SOLD sign one must offer more then the competition, either in the form of condition of home/lot and or price.

As many of you know, the mortgage industry has continued to tighten the credit scores necessary to secure the lowest rates. In fact, buyers must have a 720 or above credit score in order ot get the best possible mortgage rates. This of course is leading to a shortage of buyers. We believe the market correction will continue for several months, however things seem to be stabilizing for the short term. There is no way to tell if this will remain, but we will cotinue to review the numbers each month to determine where we are at for Nazareth PA Real Estate.

Please give us a call today if you need any real estate guidance!

Jill and Ron Fuhrer 484-241-5185

The good and the bad of the real estate market here in Lehigh Valley PA for the month of April 2008 can be found below.

Easton PA - Sales were up 11.7% from March 2008 with 496 sales in Easton PA. The average sale price was 229,000 also up 10.1% from March. The average sale price wsa 97% of list price which was up form 96% the previous month. These numbers are up as we appraoch our busy season for the year. Spring/summer is the most popular time to move as children are out of school and the weather is prime for moving/cleaning and showing homes.

Year In Review - Sales were down 15% from April 2007 and the average time on the market increased from 55 days to 67 days. The average sale price for April 2008 was 229,000 up 3.2%from April 2007. The average sale to list price was 97%, the same for 2007.

For April we have a 28 month supply inventory of homes. These numbers are merely a guide to let you know the trends within the Real Estate residential market right now. This is local, relevant information for both buyers and sellers. These trends if you track them can be helpful in making sense of what’s happening and will help you understand the concept of the buyers market we are operating in at this time.

If you would like to view some Easton PA homes feel free to give us a call! Ron and I are always happy to help and to educate buyers and sellers on the current market.

Ron and Jill Fuhrer 484-241-5185
Call us today with your questions

What is Radon?  Radon is a colorless, odorless, tasteless, invisible radioactive gas which gets trapped in homes as it comes in through cracks and or openings in the walls and foundation. Radon can reach harmful levels if trapped indoors and is often a problem in basements where little ventilation is found. It travels up from underground sources and uranium in the earth’s crust. And can be found all over the county and is quite prevalent in
Pennsylvania. Should you test? Consider this: 

• Breathing radon in a trapped home causes approximately one hundred times more deaths each year than carbon monoxide poisoning.
• Radon is the second leading cause of lung cancer.
• Some 20,000 people will die this year due to breathing too much radon without even knowing it.
• Radon is estimated to be a health risk in as many as one in fifteen homes throughout the country. 

With all of these facts there is cause for concern, however with some testing and attention to remediation homes high Radon levels can be returned to normal levels. Some techniques prevent radon from entering the home and others reduce radon levels already in the home. There are numerous radon reduction systems available with the most popular one being the installation of a vent pipe and fan, which pulls radon from beneath the house and vents it to the outside.  This system does not require any major changes to your home.  Sealing foundation cracks and other openings makes this kind of system more effective and cost-efficient.  Similar systems can also be installed in houses with crawl spaces. These systems can typically be installed for about an average of $800.00 to $1500.00 per system depending on the level in the home and the complexity of the system needed. Additional Resources: www.epa.gov/radon  EPA’s main radon page.  Includes links to publications, hotlines, private radon proficiency programs and more.Hotlines1-800-SOS-RADON (1-800-767-7236)
Operated by the National Safety Council in partnership with EPA to order radon test kits.1-800-55RADON (1-800-557-2366)
Operated by the National Safety Council in partnership with EPA, for live help with radon questions.1-800-844-6999
Radon Fix-It Hotline, operated by the National Safety Council in partnership with EPA for information on how to mitigate your home.Ron and I ALWAYS recommend that a home buyer test for Radon - even when there is a system in place - in order to make sure it’s working. If the levels are found to be high, we can request that the sellers put in a radon reduction system and if they don’t agree to put in a remediation system (many times they don’t have the cash available, we will request a credit at closing to cover the costs of an installed radon reduction system) which the buyers can install after closing. Give us a call for our trusted Radon testing and reduction contractors in the

Lehigh
Valley. We are always happy to help and as usual we will always put our client’s needs FIRST! Jill and Ron Fuhrer484-241-5185

Hello! Here we are again, looking the most recent numbers. What I have to share here relates to the housing market in the Easton PA School District area. If you have interest in seeing statistics broken down in to the Forks, South Easton, Palmer areas we can do so if you let me know.

During the month of March 2008 we saw

• 714 Homes for sale in the Easton School District
• 22 Under Contract
• 42 Sold Homes

In contrast during March 2007 we saw

• 714 homes for sale (how uncanny, the same number as 2008)
• 83 under contract
• 84 solds

What a difference! Homes under contract dropped 61% from last year and homes sold dropped 42% from last year for the Easton School District area.

This information maybe somewhat depressing, but it clearly explains what we are up against in this market. Not enough buyers for the number of properties for sale. In order to sell we have to present your home with your best foot forward at all times…. we must price it rigth - so it beats out 95% of the competition and we must be willing to provide incentives. Sometimes this comes in the form of covering closing costs for a buyer. Often times buyers don’t have the cash in hand to purchase a home - now that they will need 3% down in addition to up to 6% closing costs. Sometimes buyers can get the loan but can’t come up with the cash… so keep an open mind and give us a call if your interested in fiding out what ALL of your options are!

If your a buyer there are deals to be had!

You might also like reading:

Number One Home Selling Tip

PA Real Estate Market - How is it really?

Looking for a home in PA

Jill and Ron Fuhrer

484-241-5185

A few months ago I wrote about my sense that we were facing a recession in our country, althought it was not offically declaired by the financial wizards who guide our country. The growing feeling is now becoming more apparent. Today, in fact new records were made and oil hit $114 a barrel as gasoline and diesel prices struck new highs as a result of a report that indicated Russia’s oil production was down in 2008.

Last week Alan Greenspan, the former Federal Reserve Chairman said the United States economy was in a recession and the mortgage industry might need to be bailed out by public funds. in addition, for the first time, Federal Reserve Chairman Ben Bernanke acknowledged last week that a recession was possible. Realizing we were facing shrinkinng growth, the Federal Reserve has been cutting interest rates since last September in an effort to aviod a U.S. financial meltdown.

It seems the fears of economic recession have become global, with recent focus on the decreased global growth and the potential for inflation to affect us all.  So, our sense that in Easton PA we are dealing with a recession is starting to make the headlines. I still belive the sooner we admit and or accept that we are in a recession the sooner we can get ourselves out of this situation. Housing prices became inflated and homeowners expected their homes to continue to increase in value, but now we are seeing the values shrink and this is a market correction, prices were overinflated.

If you planning to sell your home and you can wait, that might be right choice for you right now. We have a very large inventory here in the Lehigh Valley - 27 months right now to be exact and last month only 3% of homes listed sold. If you need to sell or are open to accepting the fact that you may sell lower but remember, you will also be buying lower - give us a call so we can discuss the market value of your home and help you market your property to the right buyers.

We are always happy to help!

Other real estate related articles you may have interest in:

Nazareth PA Real Estate - March Update

How is the Real Estate Market Really?

Lehigh Valley PA Home Seller Tips

Jill and Ron Fuhrer - homes@jillandron.com

484-241-5185

We always have time for your referrals!

The market updates are in for March of 2008 and I will break them down into Lehigh Valley as a whole and then we will take a look at Nazareth PA sales specifically.

Lehigh Valley PA -

• Sales up 23% in March from February - sales down 22% from March 2007
• Average sales price 208,000 down .95 from February
• Average time on market was 73 days, a 1 day decrease from February
• Homes sold at 96% of asking price, no change from February

Nazareth PA -

• There were 62 Active Listings
• 68 New Listings Added in March vs 60 added in Feb
• 15 Pending Sales - 17 Pending Sales in February
• 12 Sales - we had 13 home sales in February
• Average Price was 330,000 - February saw average price at 338,000
• Median Sale Price in Nazareth PA School District was 287,000 in March of 2008

In February of this year, sales dropped to 5.42% of all avaliable sold. That number dropped to 3.41% This means that only 3.41% of homes listed actually sold in March 2008. This number is quite low, espeially when looking back over the last two years we saw record highs of 17.26% of listings sell in a single month. Again, this tells us that the competition is stiff and sellers who have to sell, need to sell or are determined to sell need to be better then or lower priced or offer more then 97% of the competition out there.

Ron and I believe the market is picking up and hope these numbers are going to bottom out soon. We have personally been much busier with buyers and writing offers then in the last several months. These numbers take time to translate to the stats. We will keep our eyes on the market and hope you will come along for the ride!

Feel free to use our MLS Search for PA Real Estate anytime! Or contact us for specific comps on your home and information on the market in your neighborhood! We are always happy to help.

Jill and Ron Fuhrer

484-241-5185

I was talking to a friend of mine who is planning to list her home on the market in the near future - her home was listed last year and she had two offers but they both fell through. She and I talk frankly about the PA real estate market all the time, as a matter of her interest and my casual anecdotal stories. She happened to mention today that she has talked with a few other Realtors fairly recently who have painted a very upbeat pretty picture of current conditions- quite different from what we have seen here most recently in the area. In fact she has made a point to ask the Realtors -”So are you selling houses? How is the market?” She reports they smile and say things are great and they are selling lots of houses! But how is this possible when sales are way down and we have a 23 month supply of homes in the Lehigh Valley?

So…. whats the deal? Are they being dishonest or just trying to paint a hopeful picture in an effort to earn your buisness? In their defense its true that Realtors success is often about creating the image of success.  But to paint a picture that is just plain untrue? How much respect will this earn? Are they the exception? No Doubt, there are some realtors that are doing well - but the  current Real Estate market conditions make the selling environment challenging these days. Seems to me there needs to be a balance here between reality and keeping your chin up when Realtors come face to face with sellers.

What I do know is this. Ron and I will tell you the truth about the market conditions, how it will affect you and the current market value of your home. We won’t tell you what to do, but we will provide the information you need to make educated and thoughtful decisions. It may not always lead to us getting the listing but we will act responsibly and we understand the home selling process is already difficult, never mind when a person is acting on untruthful data.

Yes, some homes are selling, but it only about 5% of homes listed at this time that are moving each month. In addition, some do move quickly, but you must be willing to price your home very competitively, making it one of the nicest homes in your price range. If you not willing to do this then its likely it may take longer to sell. We will tell you where we advertise and we will provide you with a communication book that holds all of the information we provide including contracts/advertising/listing and other necessary paperwork.

I hope when you talk with your Realtor your getting the straight story. If you need an honest professional opinion we are always happy to help!

homes@jillandron.com

Jill and Ron Fuhrer

484-241-5186