Poconos Real Estate Blog

Some Home Sellers Consider Renting Instead

2011-10-06T16:30:26-04:00

It is tough to be a listing agent in the Poconos these days. With home values in some areas reaching almost 10-year lows, advising clients about selling their properties is not always pleasant. The realities of the marketplace mean there are many tough decisions to be made, including whether to take a loss on a sale or to even move at all, or to rent out the house so you can move on with your life. My job is to help you to weigh the pros and cons of selling and/or renting your home, allowing you to make the most well-informed decision possible.

The rental market here in Monroe County and surrounding areas is very good right now. There are many potential tenants looking for homes to move in to, so lease prices have been increasing. There are some drawbacks, though, as tenant applications show the effects of a tough economy - low credit scores, bankruptcies, foreclosures, job insecurities, etc, all require thorough screening of potential renters. And, while monthly rental amounts may be higher, in many cases the rents collected may still not be enough to cover mortgage payments, taxes and homeowners' association fees. Sometimes it is a matter of minimizing losses rather than eliminating these financial obligations altogether.

All this is not to say that renting out your house is a bad idea, however. Every situation is different and you need to evaluate the benefits and risks of doing so. I am happy to discuss any of this in detail with you if you'd like, as well as describe the process of marketing your rental, screening tenants, document preparation, and even managing your property after the lease is signed. I can be reached at 570.421.4693 x 4006, or lisa.sanderson@realpocono.com.

If you would like to see what homes are currently available for rent and what kind of rental amounts owners are asking for, click here: Homes for Rent in the Poconos

Vacation Rental for Sale - Near Bushkill Falls

2011-09-20T15:44:27-04:00

This uncommon vacation home is for sale but offers something many others do not...a rental history! Imagine having a place to escape to in the Poconos that pays for itself. This vacation rental home is turn-key ready and perfect for year round or seasonal use.

Ultra sleek, contemporary styling, high quality materials, energy efficient systems - if you've been looking for something special, this could be it. Unique, upscale, beautiful! Everything's been remodeled in the past couple of years - be sure to check the photos. Located in an amenity community near Bushkill Falls with easy access to all the great Pocono attractions.

At 1800 square feet, this bilevel home is the perfect size to be easily maintained, heated and cooled. Three bedrooms, two full baths, a garage and a pretty lot on a quiet cul de sac. $157,500

Interested? Contact me! Your patience is appreciated when scheduling a showing - the nature of an in-demand vacation rental such as this means it may be occupied and unavailable to show sometimes. Plenty of notice is appreciated.

Ten Year Real Estate Trends, Monroe County, PA

2011-04-09T10:03:00-04:00

Ahhh, statistics. So much fun. As President of the Pocono Mountains Association of REALTORS, I get a lot of calls from journalists and business leaders in the Poconos looking for home sale trends in our area. Lucky for you, I can make my research in the Multiple Listing Service do double duty by sharing some of it here :) So today, I bring you a ten year history of home sales in the lovely Monroe County Poconos.

The chart below illustrates the change in the number of closed residential transactions over the past 10 years.

And here is the illustration of average sale prices in our market each year since 2000:

For those of you who really dig data, here are the specific numbers:

	Avg Sale Price	# Units
Monroe County Poconos
2010	$153,581	1,499
2009	$162,880	1,594
2008	$186,760	1,720
2007	$206,166	2,343
2006	$202,696	3,122
2005	$186,812	3,491
2004	$165,873	3,354
2003	$144,204	3,070
2002	$125,755	2,946
2001	$111,217	2,408
2000	$100,663	1,641

These figures represent residential real estate sales in all municipalities of Monroe County, Pennsylvania. Keep in mind that each specific neighborhood and/or community may trend similarly or be very different. Real estate is local, and here in our area that is especially true...specific location can make a big difference. If you are selling or buying in the Poconos you will want to have more specific data, so be sure to ask your real estate agent!

**Information gathered from the Pocono Mountains Association of REALTORS Multiple Listing Service on 4/8/11 and is deemed reliable but not guaranteed.**

Preliminary 2010 Pocono Home Sale Statistics

2010-12-06T16:44:39-05:00

The number of home sales in the Monroe County Poconos in 2010 is off by about 7.5% from last year and 15% from 2008, according to data I compiled from the Pocono Mountains Association of REALTORS Multiple Listing Service on 12/6/10. The 314 sales reported as 'Pending' (under contract but not closed yet) right now would go a long way to redeem 2010 from being the worst year yet for number of transactions, but the likelihood of all of these closing before December 31 is doubtful.

Foreclosures and short sales accounted for 32.5% of the 1,360 homes sold so far this year. This segment accounted for 31.6% of closed sales in 2009 and 23.8% in 2008.

Today there are 2,404 homes for sale in Monroe County, 112 of which are bank owned. 260 of these current listings are advertised as short sales. This inventory represents a 19.7 month supply at the current absorption rate (average of 122 sales per month from January 1-November 30, 2010).

Please don't shoot the messenger ;)

The Swimming Pool at Big Bass Lake

2010-07-17T16:47:42-04:00

It was a beautiful Pocono day today, perfect for touring vacation home buyers through two of our nicest recreation communities, Arrowhead Lakes and Big Bass Lake. We hit BBL at about noon and visited their pool not long after. As you can see from the photo, there was stuff going on but it wasn't very crowded at all. The beautiful tennis court complex was busy with players of all ages getting some sets in before the afternoon temperature got too high. Oh, and the food at the snack bar looked yummy :)

For more info on Big Bass Lake and any other vacation home community in the Poconos, drop me a line or inbox me at info@lisasanderson.com

Blog posted here.