Local Market
- “Centre County Housing Market Trends: 2010 Review and 2011 Outlook”
- by Nancy VanLandingham
- January 2011
- The national forecasters are calling for 2011 to be the start of the home sales recovery. The predictions are for 5.2 million existing home sales (up from 4.8 million in 2010), and a modest 1% increase in prices. But all of this depends on consumer confidence. The economic recovery cannot really take hold until most Americans think we are having an economic recovery. Do you see the conundrum?
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- “Mortgage Interest Deduction Pays Dividends for Home Owners”
- by Steven Bodner
- December 2010
- Although recent reports of plans to eliminate or modify the mortgage interest deduction are widely exaggerated, the National Association of Realtors® will remain actively engaged to ensure that the nation's 75 million home owners will continue to receive this important benefit.
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- “Today's Home Buyers Experience Significant Savings”
- by Steven Bodner
- November 2010
- Buying a home can be a life-changing decision and one that many people take seriously, especially in this market. Part of becoming a responsible homeowner is weighing every aspect of the decision before buying, including lifestyle preferences, job and financial situation, and affordability.
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- “A Heart for Service”
- by Steven Bodner
- October 2010
- Changes are you know a few Centre County REALTORS. Our members work hard to serve the real estate needs of our community. It's likely that you know us in other capacities, too, such as our volunteer and philanthropic efforts. REALTORS come with a heart to serve and that's exactly what we deliver.
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- “Global Pursuit of the American Dream”
- by Steven Bodner
- September 2010
- American real estate is catching the eye of international buyers. Foreigners who understand the value of owning U.S. property are flocking stateside to cash in on the opportunities in the U.S. housing market. This is according to the National Association of Realtors® 2010 Profile of International Home Buying Activity, which revealed an increase in the number of international clients serviced by Realtors® over the past year.
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- “Becoming a Homeowner – Now What?”
- by Steven Bodner
- August 2010
- More than 2.5 million people became first-time homeowners last year. Like graduating or getting married, this life-changing event will usher in a new chapter in their lives. Once new homeowners have their house keys in hand and prepare to move furniture into their new place, one question they may find themselves pondering is, “What happens now?”
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- “Home Ownership Your American Dream”
- by Steven Bodner
- July 2010
- Even during the uncertain housing market of recent years, 90% of surveyed homeowners maintained that their house is a source of comfort in their lives, according to The Pew Research Center. Have you ever stopped to think about why so many people make it a goal to buy a home one day?
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- “Centre County Housing Market Trends: 2010 January to June Snapshot”
- by Nancy VanLandingham
- June 2010
- With all of the national media reporting about the housing market, it is easy get swept up in negativity and believe that this down cycle has hit all local markets and that it will never end. Not so! The Centre County housing market continues to be strong and most houses have retained their value over the long run.
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- “Benefits of Homeownership: What Matters Most”
- by Steven Bodner
- June 2010
- At some point in time most people are faced with the decision to either buy a home or continue renting, and with the expiration of the home buyer tax credit, that choice may be on many people's minds these days.
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- “HouseLogic.com: The Logical Source for Homeowners”
- by Steven Bodner
- May 2010
- Homeowners who appreciate the long-term value of owning a home have a powerful new online resource at their fingertips. HouseLogic.com, developed by the National Association of Realtors®, aims to help homeowners maintain and enhance the value of their home.
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- “Home Sweet Homes”
- by Steven Bodner
- April 2010
- Despite economic challenges over the past year, consumers continue to invest in second home properties. Many Americans purchase second homes either as vacation retreats or investment properties. According to the National Association of Realtors® 2010 Investment and Vacation Home Buyers Survey, vacation-home sales rose 7.9 percent to 553,000 last year, up from 513,000 in 2008.
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- “What a Difference a Year Makes…”
- by Steven Bodner
- March 2010
- With all of the national news highlighting an imploded residential real estate market struggling to gain some ground, it's easy to fall into the trap that we, in Happy Valley, have fallen victim, too. And to some degree, we have. For instance, take the dip in the average sales price that occurred in 2009.
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- “Weary Sellers Turn to Real Estate Agents”
- by Steven Bodner
- February 2010
- Today’s market challenges are prompting more sellers to work with a real estate agent than ever before. According to the National Association of Realtors® 2009 Profile of Home Buyers and Sellers, “for-sale-by-owner” transactions dropped to a record low 11 percent.
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- “Centre County Housing Market Trends: 2009 Review and 2010 Outlook”
- by Nancy VanLandingham
- January 2010
- Welcome to 2010 and the improving national economy which should provide a shot of energy to the Centre County housing market. Let's back up a step and look at the 2009 market in some detail before we move on to 2010. Last year 1434 homes were sold through the Centre County multiple listing service (MLS) compared with 1491 in 2008.
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- “Tis the Season… to Buy a Home”
- by Steven Bodner
- January 2010
- Winter is often considered a relatively slow time of year when it comes to buying and selling real estate. In colder regions, trekking through snow and ice to visit open houses isn't the way most people tend to spend their free time. Winter weather conditions can also make packing up and moving into a new home more difficult.
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- “Centre County Housing Market Trends: 2008 Review and 2009 Preview”
- by Nancy VanLandingham
- January 2009
- Oh Boy! I'll bet you've been waiting with bated breath for my report on the 2008 real estate market! To answer the question that is probably foremost in your minds, “No, we are not in as awful shape as many other areas of the U.S., but yes, we are still subject to the influences of the national economy.”
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- "Housing Market Snapshot
Centre County: January–June 2008"
- by Nancy VanLandingham
- September 2008
- Now that we are at the year's midpoint, let's take a peak at how the Centre County housing market
has performed during the first half of 2008. So far, 670 homes have sold through our multi-list --
that is 43% of last year's total. Does that mean we are falling behind? Not necessarily. The market
behaves differently every year. In 2006, 51% of total closings took place in the first six months; but
in 2007 this was just 46%. We can say that fewer homes have closed so far this year than in the last
two years, but we don't know what the next six months have in store.
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- "County Ends 2007 with Some Good News"
- by Ellen Kline
- February 2008
- With 2007 now in the books, we can look back and find that real estate prices were just a bit higher in average price than in 2006 – that's good new compared with changes in many parts of the US. This is especially great news based on the numbers as of the second quarter of 2007 – then, we were down 15 percent in units sold, not creating a favorable outlook for the balance of the year as we usually consistently sell the most homes in the first half of any year.
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- “Housing Market Centre County: January to June 2008 Snapshot”
- by Nancy VanLandingham
- July 2008
- Now that we are at the year's midpoint, let's take a peek at how the Centre County housing market has performed during the first half of 2008. So far, 670 homes have sold through our multi-list -- that is 43% of last year's total. Does that mean we are falling behind? Not necessarily.
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- "Centre County Housing Market Trends: 2007 Review and 2008 Preview"
- by Nancy VanLandingham
- January 2008
- The national media would have you believe that housing markets all across the country are in a tailspin. But remember, all real estate is local, and our market here is in much better shape than those on the east and west coasts. Across Centre County, the housing market of 2007 behaved very much like the housing market of 2006. A total of 1562 homes sold through the county wide multi-list in 2007, compared with an almost identical 1556 in 2006.
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- "Housing Market Experiences First-Quarter Slowdown"
- by Ellen Kline
- July 2007
- The real estate market in Centre County is softening. A Quick review of first-quarter numbers from 2005, 2006, and 2007 from The Centre County Association of REALTORS Multiple Listing Service (MLS) shows an erosion in units sold of almost 40 in two years. State College-area units are down 29 from 2005 but average sale price has steadily increased from $206,123 in 2005 to $232,222 for the first quarter this year. See the chart below for details.
- Click here for the chart and complete article
- “2007 Economic Outlook for Sovereign Bank”
- by Nancy VanLandingham
- January 2007
- In 2006, 1556 homes were sold in Centre County through the County multi-list. The average price was just shy of $200,000 and the average market time was 58 days. In comparison, 1602 homes sold in 2005 (3% more) for an average price of $190,000 (5% lower), in an average of 48 days (17% quicker).
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- "State College and Centre County Housing Market: 2006 Review and 2007 Outlook"
- by Nancy VanLandingham
- January 2007
- Across the United States more than two-thirds of Americans own their own homes and the percentage is increasing every year (U.S. Census Bureau, 2005). In Centre County, with the presence of 40,000+ Penn State students, those numbers are slightly lower. Still 60% of Centre County housing units are occupied (Centre County Planning Office, 2004).
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