Monthly Value Message – April 21

Let’s get together and talk!

“Someone you care about will be selling their home soon. Please pass this along, I’d be glad to sit down and talk with them…”

Todd
Office: (814) 231 – 8200 ext. 355
Cell: (814) 880 – 4427
toddcostello@remax.net

Market Data

This data is based on information from the Centre County Association of REALTORS® MLS for the period indicated. Totals include all existing single family residential properties located in the following school districts: SCASD, BEASD, BASD, PVSD as of the first business day of each month.

1. Remember….You’ve Got To Live Somewhere.

Hard not to hear all the “noise” of the current Real Estate Market.
Inventory levels are low, interest rates are low and property values are rising.

Oh My Gosh….”it’s so exciting”. Well, that’s one way to look at it.

As a service provider, I tend to keep my emotions in check, when representing my clients.

I don’t ever want to board a plane when the plane’s pilot is really amped-up about the flying conditions, whether they are good or bad.

I never want to go into surgery when the surgeon is overwhelmed or excited about anything.

It is exciting to find your new home. It is exciting to sell your current home.

The Point Is…..

You have to live somewhere.

So when the market conditions are “hot” and properties are selling quickly for top dollar…that feels good for sellers. Yet most seller’s are then buyers, buying into the same ‘hot” market conditions, so the excitement and benefit of getting top dollar on the selling side may offer the opposite effect on the buying side.

Sometimes the “noise” or “excitement” is just a distraction.

Buying and or selling is a process, regardless of the market conditions.

Let’s remain focused on setting your goals, developing a plan to meet them and then taking action.

2. Size Matters… In developing expectations

Question: What is one reason property values seem to be rising?

Answer: Money is so cheap!

Example: Securing a $350,000.00 Mortgage for a 30 Year Term

Interest Rate of 5% = A monthly principal/interest payment of $1879.50/month

Interest Rate of 3% = A monthly principal/interest payment of $1477.00/month

Savings Each Month………………………………………………$402.50/month

Make regular payments for 30 years and the savings is $144,900.00

That’s one reason.

“Where’s Todd” Winner…

Sam Richards was this months winner! Congratulations!

Todd was eating Cake at Wegmans.

Where’s Todd?

The third person to respond via email with the correct location of this photo wins a $10 Panera gift card.

Hint…it will always be somewhere in Centre County.

This Month’s Prize….

2 winners will each receive a $50 gift card to Appalachian Outdoors.

*Odds of winning 1 in 500

“It was one of those March days when the sun shines hot and the wind blows cold: when it is summer in the light, and winter in the shade.”

– Charles Dickens