Why are some homes in Baltimore selling for less than $10,000?

Posted on August 25, 2011 by sean adkins
I’m not sure what my house is truly worth in the current housing market.  I could guess, but I’d probably be wrong.

What I can say is that my property is worth more than $10,000.  During the first half of the year, one of every 10 homes sold in Baltimore, about 275 properties, carried a price tag of $10,000 or less, according to a recent story in the Baltimore Sun.

Yes, it has gotten that bad.

In York, for example, the median sale price for a home sold between January and July was $38,250, according to the Realtors Association of York & Adams Counties. True, that’s better than $10,000, but you can see the direction in which local prices are sliding.

Check out this story about the housing market in Baltimore and let me know what you think.
Posted in For sale, mortgage, RAYAC, Real Estate, Sean Adkins, York | Leave a comment

Which do you pay first? The mortgage payment or the credit card bill?

Posted on August 23, 2011 by sean adkins
Apparently, more people have decided to pay off their credit cards before making their mortgage payments.

During the recession, mortgage delinquencies climbed at a much fast pace than credit card delinquency rates, according to an analysis by TransUnion.

What does this rethinking of priorities mean?  It means that people are more focused on paying off a bill that will eventually be satisfied rather than sinking cash into an investment that, if you pay attention to home prices, will never offer a return.

I would never advocate people not paying their home loan. If you take out a mortgage, you are responsible for the payback.  A person can blame everything from predatory lending to ignorance, but at the end of the day, it’s their signature that adorns that all-important dotted line.

However, I do applaud people taking their own economic well being into their own hands.

For example, it might make sense to make a couple extra payments on a credit card and miss a mortgage payment. I mean, if you miss one credit card payment, your interest rate could skyrocket.  Miss one mortgage payment and nothing happens to your rate.  Just remember that, next month, your mortgage payment will be double to make up for past month.

If you can, budget your money so that you don’t pay late fees on either bill.  I know, this country’s economy runs on late fees and debt.  But, this country doesn’t need your late fee.

Posted in housing trends, mortgage, Real Estate, Sean Adkins, York | Leave a comment

Retirement village to get a sip of York County

Posted on August 9, 2011 by sean adkins


Pending approval by state regulators, York Water Co. expects to soon
start funneling its signature product to Cross Keys Village in Adams
County.

York Water entered into an agreement Monday that, if approved by the
Pennsylvania Public Utility Commission, will allow the York-based
utility to supply water service to the 250-acre retirement community
beginning Oct. 1.

“We are looking forward to providing Cross Keys Village with ‘that good York water’,” said Jeff Hines, president of York Water.

Aside from its deal with Cross Keys Village, York Water stated Monday
that the company’s second quarter operating revenue $10.45 million
increased $704,000 and that net income climbed $114,000 to $2.45 million
compared to the same period last year.

Higher water revenues brought on by a growing customer base and a rate
increase that the company put into place last fall contributed to an
increase in York Water’s six-month net income, Hines said in a
statement.

During the first half of the year, York Water reported that operating
revenue of $20 million increased by $1.3 million. The company’s net
income of $4.59 million increased $414,000 compared to the first six
months of 2010.

During that same period, the company invested $4.1 million in capital
projects for upgrades to water treatment facilities and standpipes as
well as various replacements of aging infrastructure.

Posted in housing trends, Real Estate, Sean Adkins, Utilities, York | 1 Comment

Shamed into cleaning

Posted on August 3, 2011 by sean adkins

My wife and I are like most other couples who juggle careers with housework.

When we get home from a long day, the last thing either of us wants to do is grab a broom, a dust rag or laundry detergent and launch into an evening of chores.

And, on our days off, we would rather spend our leisure time swimming or going to the movies than scrubbing the bathroom.

No, our house isn’t a mess. We do straighten up on a regular basis.

However, on a given week day, you might spot a kitchen sink half-filled with dishes or a clump of dog hair blowing like a tumbleweed through the family room.

Given that we’re not big fans of everyday housework, I came up with a plan that has motivated both my wife and I into cleaning on a regular basis.

And, it involves other people. And shame.

Continue reading →

Posted in Do it yourself, housing trends, Real Estate, Sean Adkins, York | Leave a comment

Agents board York trolley bound for urban landmarks

Posted on July 29, 2011 by sean adkins

trolley.jpegBefore Thursday, Jennifer Ravegum was not too familiar with York City.

To become more accustomed with the amenities found downtown, Ravegum,
manager of the

Prudential Homesale Services office in Dallastown,
boarded the White Rose Trolley and joined a handful of other local real
estate agents on a tour of the urban area’s local landmarks.Before Thursday, Jennifer Ravegum was not too familiar with York City

“I don’t think that many agents think to recommend houses in the city,” she said. “They might not live in the city.”

The goal of the tour, put together by the City of York and the Realtors
Association of York & Adams Counties, was to point out specific
areas of York that could be used to draw more people into the city.

Continue reading →

Posted in Do it yourself, For sale, housing trends, mortgage, RAYAC, Real Estate, Sean Adkins, York | Leave a comment

Mowing in a heat wave

Posted on July 27, 2011 by sean adkins
The recent heat wave appears
to have confused many residents of my neighborhood. 
 
Despite the high temperatures, some of my neighbors have labored to
keep their lawns neatly trimmed.  Some of those front yards are now brown while
others have managed to retain some their natural green. 
 
The rest of my neighbors have just let their
grass grow, waiting for a few days of rain to bring their yards back to life. 
 
If you’re still not sure how to manage
your lawn during the dog days of summer, here’s a few tips from All About
Lawns: 
 
– Keep your lawn a little long. Longer
lawns do a better job of retaining water and standing up to heat. If you can,
wait for a cooler day to mow and you will minimize water loss.
 
– Skip the lawn fertilizer. Extreme heat
and lawn fertilizer are a bad combination.
 
– Water in the early morning.
Early morning watering is a good idea for lawn care throughout
the year,  but during a heat wave, it is particularly useful in fighting
evaporation, which dries out your garden.
 
– Water deeply. Light and frequent
watering might seem like a good idea for a parched lawn. But in fact, a deep
watering two or three times a week works best, particularly during heat waves.
Deeper watering helps the lawn extend its roots deeper into the soil, where
moisture can be found even after the top inch or two of soil dries out.
Posted in housing trends, Real Estate, Sean Adkins, York | Leave a comment

Parade of Homes set to march in September

Posted on July 20, 2011 by sean adkins

    If you’re shopping for a new house and are not yet sure about a particular style, you might want to try the upcoming Parade of Homes.

    A joint venture between the York County Builders Association and MediaOnePA, the event allows people to tour 20 new and remodeled across York County York during two weekends – Sept. 15 through Sept.18 and Sept. 22 and Sept. 25.

    For details; call 767-2444 or visit www.yorkbuilders.com.

 
    
 

Posted in For sale, housing trends, Real Estate, Sean Adkins, York | Leave a comment

App allows you to search foreclosed properties by zip code

Posted on July 19, 2011 by sean adkins

        
complete_foreclosures_app.png            The next time you take an interactive stroll through Apple’s App Store, take a moment to check the recently added “Complete Foreclosures” application. 
         
             This app, powered by data from RealtyTrac, allows you to search foreclosures by zip code. It offers photographs and detailed information about each listing.

        For example, if I type “17408″, the app produces 106 total listings in that zip code.
 
       To find the app, go to the app store and enter “Complete Foreclosure.” 

Posted in Cathy Hirko, For sale, housing trends, Real Estate, Sean Adkins, York | Leave a comment

In fickle market, home-sellers might struggle to set a price

Posted on July 8, 2011 by sean adkins

Check out this Philadelphia Inquirer story written by Alan J. Heavens.

The article provides a good overview of the national housing market, especially in regards to the pricing of property.

It’s a good read if you’re thinking about selling your home: 

During the housing boom, many real estate agents found it extraordinarily tough, if not impossible, to come up with even ballpark asking prices for their listings.

“Values were increasing at a pace we had never seen in this area,” said John Duffy, of Duffy Real Estate in the Philadelphia area.

For four-plus decades, real estate agents had been used to gradual price appreciation of 3 percent to 6 percent a year, “and then the boom came along, and we were seeing a much faster and higher appreciation, which made it very difficult to price properties,” Duffy said.
 
The results: Multiple bids, and prices exceeding what homeowners were asking.

Continue reading →

Posted in housing trends, mortgage, Real Estate, Sean Adkins | Leave a comment

Volunteers need for York Habitat Build-A-Thon

Posted on July 7, 2011 by sean adkins

  
build.jpeg     York Habitat for Humanity will host a groundbreaking at 4 p.m. July 13 for its 100th home.

    The construction is part of York Habitat’s Build-A-Thon 2011, which will take place Aug. 2 through Aug. 6 and involve the framing of a duplex at 355 and 357 E. Poplar St. in York.
 
    To volunteer, call 854-6168.

Posted in Do it yourself, For sale, housing trends, Real Estate, Sean Adkins, York | Leave a comment