Critical Data and Rates

Active Listings: 236
Pending Listings: 290
Demand Rate: 123%

15 Year Mortgage Rate: 3.49%
30 Year Mortgage Rate: 4.06%

1. I Am Wowed By Our Markets Consistency…..

There is something comforting in consistency. We are within 10 Units or 10% in all categories!

Talk about a lack of volatility.

Reminder: The fundamentals always apply, regardless of market data….

For Sellers….
If your property is not selling in a reasonable amount of time your list price is too high.

What is a reasonable amount of time? 30 days maximum (even less in peak season).

For Buyers….
You will not be successful if you are not prepared and qualified to ACT.

(It always amazes me how many folks want to look at houses before they are truly ready to act and how many Realtors will accommodate this dangerous whim) (Boy, that last comment sounds a bit harsh(even for me) but it’s busy season, I’m a little cranky and there isn’t time for silliness ).

2. Winter is Coming…………..maybe?

Couldn’t help myself with the Game of Thrones reference (wow, loved the battle episode).

As many of my long term clients know, I commit a fair amount of time and finances to remaining out front on market knowledge/industry trends, etc.

I would estimate I have attended over 50 one week conferences/seminars and invested well over $125,000 in keeping myself educated and informed in my area of expertise during my 23+ year career. Having completed three 4 day workshops in the last 7 months alone.

Based on what I am hearing and learning from other professional like myself, who work in all markets throughout the United States…there is a normal, cyclical market shift underway.

Oversimplified, National Residential Homes Sales, Market Trend Timeline

2002 – 2007
property values nationally increasing(dramatically in some markets)

2008
September/October national financial meltdown, property values collapse

2009 – 2013
national property values remain near flat-line at depressed levels

2014 – 2018
national property values begin to recover and then increase at unsustainable levels

2019 –
top 20 metro markets nationwide see decreasing sales, increasing inventory and days on market

Bottom Line:
No crash coming. We are what I call a small or lagging market, our trends will typically follow the large metro markets by 6 to 12 months(ish).

If we see an increase in inventory(available listings) and an increase in DOM(days on market) I will consider that normal. No market is in a perpetual up or perpetual down trend.

Even if we experience a reasonable shift in market conditions over the next 6 to 12 months, I will be able to get your property sold for Fair Market Value in a Reasonable amount of time. And I will be able to assist you in securing a desirable new home at Fair Market Value in a Reasonable amount of time.

Let me close with what I consider the absolute safest, logical, reasonable statement I can share on the topic of single family residential home-ownership…..(from the ultra safe department).

If you purchase a home you can afford, own it for 10 years or more and do not borrow/use any of your equity(home equity loan), home-ownership is nearly risk free and will provide you and your family a tremendous amount of security and stability.

This Month’s Prize Draw Winners

This month’s winners of the $50 gift cards to Appalachian Outdoors are Lino Toyos and Tim Dunleavy – Congratulations!

Next Month’s Prize

2 winners will each receive a $50 gift card to Facia Luna.

To enter the prize draw, you need to join my newsletter (bottom of the page) and then simply reply to the Monthly Value Message email that is sent.

“I could agree with you, but then we’d both be wrong.”

– Harvey Specter

Todd is honest, hard working, dependable, fiercely intelligent, and extremely knowledgeable of the residential real estate business.

Cate, STATE COLLEGE

I trust Todd’s professional expertise, experience and thorough knowledge of the State College real estate market when buying or selling. I wouldn’t use any other real estate agent.

Gregory, STATE COLLEGE

You’re so good at keeping in touch, Todd.
Thanks!

Betsy, STATE COLLEGE

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