Are Short Sale Properties Stigmatized?

I wonder if we are starting to see a new type of stigmatized property. As I look through the MLS and see properties that are below value and read on to see it’s on the market for hundreds of days and its a short sale. 

I can’t help but think the people who need the help the most are not getting showings and in effect are having their properties stigmatized as a result of all the “Notices” agents place on the property listing description. 

There must be a better way than scaring off potential buyers and buyers agents, with what in effect is a sign that says “DON”T SHOW”

The Gettysburg Festival ~ June 18th – 27th, 2010

The Gettysburg Festival ~ June 18th – 27th, 2010.

Gettysburg Home for Sale

Come and check out this wonderful home with spectacular view on Upper Adams County at 45 Orchard Court, Biglerville, PA

For more info:

www.45Orchard.com

Property Features

* Quaker Valley Estates                                       * Located on a cul-de-sac

* Single Family Property                                    * Menallen Township

* Adams County                                                    * Upper Adams  Schools

* On about 1.45 acres                         * Residential Zoning

* Partially wooded, Sloped, Southern Exposure

* Well and Septic Sewer                                       * Approximately 3052 sq. ft.

* Stick Built: 2004                                                 * 4 total bedrooms

* 2 ½ baths                                                              * Heating features: Propane

* Central air conditioning                                * Exterior vinyl construction

* Asphalt roof shingles

* Two story contemporary style, center foyer open floor plan design

* Living room is 17 x 13.4 w/ vaulted ceiling, floor to ceiling stone fireplace

* Formal dining room is 13.4 x 12.8

* Kitchen is 13.6 x 10, w/ 11.25 x 16.3 eating area

* Upper deck located off the eating area includes hot tub and spectacular southern views

* SS appliances include dishwasher, oven/range, microwave, side by side refrigerator

* 1^st floor bath includes unique glass sink and fixtures

* Master bedroom is 21.8 x 12 w/ ceiling fan, blinds and wall to wall carpet

* Master bath 8 x 10 with separate shower and tub

* Bedroom #2 11.3 x 10 w/ ceiling fan, blinds and wall to wall carpet

* Bedroom #3 11.3 x 9 w/ ceiling fan, blinds and wall to wall carpet

* Bedroom #4 / Den 24.8 x 11 in the lower level

* Fully finished basement with walk out to lower deck level and garden area

* Family room in the basement is 24.25 x 18.6

* 1^st Floor laundry 7 x 6.83 w/ washer and dryer

* 2 car attached garage, with garage door openers

A Sign of Spring?

I just read this Realty Check article  A Sign of Spring in Housing? – CNBC.  on the recent nation wide surge of mortgage purchase applications indicating a 9% one week increase. While one week, the time period over which this increase was measured is short, it is a trend that we have seen in our own South Central PA real estate market in Adams and York Counties.

At the start of 2010 Adams County experienced a whooping 33% increase in units sold in January after finishing 2009 with a 7 % decrease from 2008 to 2009. More encouraging news was also received in York County, where January 2010 finished with a modest 6% increase in units sold after ending 2009 with a 4% increase over 2008.

Both Adams County and York County have overall price point sensitivity with Adams reporting a 7% price decrease in 2009 and York County reporting a 3% decline.

While these are countywide averages, there are a few community pockets that have experienced some limited price and volume growth, Gettysburg, Northern York and Spring Grove to be exact.

The good news, it seems that prices and volume have stopped declining uniformly in all areas and that pockets of volume increases at reduced prices exist in some areas with other communities reporting price stabilization / increase at reduced volumes.

Hello world!

I’m Ed Kelly a REALTOR in Gettysburg PA for Long & Foster Real Estate. I serve the South Central PA Real Estate market in communities in Adams and York counties.I’m new to blogging, I hope to be able to use this site to offer help and information about the trends in the local market, mortgage and financing sources, and the latest information in the industry that may be of importance to home buyers and sellers in our area. I will also be posting listing information from time to time, that will also include historic and distinctive properties in the area and occasionally some information about places I’ve visited in my travels. 

I’m a life long resident of PA but I have only been in South Central PA since 2006. I am an avid motorcyclist and I truly enjoy the area, the rolling farmland leading up to the mountains to the west of us make for spectacular views and scenery. Coupled with the history of the area and the ease of access to Philadelphia, Baltimore and Washington makes our area a great place to live. 

 Please feel free to leave a post or drop me an email or visit my Ed Kelly Real Estate web site for more information.