July is when all of the boroughs and townships publicize their new millage rates. These rates are used along with the assessed value of your property to determine what amount of county, township/boro, and school taxes that you will pay.
Here are the new rates for all of the areas in the counties we do business 2010 Fayette Millage, 2010 Somerset Millage, and 2010 Westmoreland Millage. Each county uses a different formula for calculating the assessed value of your property. Millage for Hidden Valley (Jefferson Township) went from 48.95 to 50.26 and Seven Springs (Middlecreek Township) saw a slight decrease in mills going from 32.11 to 31.97.
Here’s an example of the difference! If your property has an assessed value of $75,000 and you are in Hidden Valley your total tax bill (county, township and school) would be $3,769.50. At Seven Springs your tax bill would come to $2,397.75 This is just one of the variables that should be considered when deciding between the two resorts!
Amenities, facilities, association fees, services, these are a few that should be at the top of your list. Then there is location, price, size, ect granted most times you will have to compromise! The best advice we can give you is make a wish list of what is important to and hold out for at least for the top three items! REMEMBER ALWAYS work with a REALTOR offering designated agency!
Wednesday the work began and it will take till next week to finish! When I tried to find out just what was being done and how long it would take I tried the Pennsylvania Department of Transportation, (Penn Dot) web site. I was unsuccessful in finding anything about the project on line but did find some numbers to calls for help.
According to Val, “It’s from Route 381(around the Jones Mills post office) to 711 (around the PNC bank) on Route 31, that’s about a mile and a half.” This is the Gateway to the Laurel Highlands and when it’s done it will be one smooth ride! On Wednesday the milling work began on both sides of the road. There were no signs posted about the drop offs!
The resurfacing with asphalt begins as soon as the milling work is completed. As Route 31 is down to one lane you may end up sitting outside of the Prudential Preferred Realty Office. Here’s a slide show of the construction and the gang that works in the Prudential office! Remember you pass the office on the way to Hidden Valley, Seven Springs, and the Laurel Highlands!! Stop in for ANY OF YOUR REAL ESTATE NEEDS!
If you don’t want to deal with the construction and are headed to Seven Springs, when you exit the turnpike turn right, then turn left on Hellen School Road, at the cross road turn left (it’s County Line Road) and you’ll end up at the four way stop by the Champion post office and gas station.
Between the Hidden Valley and Seven Springs communities there are 16 associations. We are here to share that as HOMEOWNERS and PROSPECTIVE BUYERS you really should read through the ASSOCIATION DOCUMENTS that apply to you! Remember that your primary residence may be governed by an association too! Dig them out of the files and review!
This BLOG post was created because of a segment we heard on National Public Radio (NPR)! The story in a nutshell goes like this, a reservist from Texas was deployed and his wife missed two payments of their association dues. Their $300,000 home was foreclosed upon, sold on the court house steps for $3,000, and then flipped for $135,000! Yes, it is being appealed but the original owners are without their home!
There are 33 states that allow forclosures to happen without involvement from a judge or arbitrator. These are called non judicial forclosures. Pennsylvania allows you to have your day in court and follows the judicial foreclosure procedure. Neither is an experience you would want to have!
Best advice we can give you is to keep those payments current! Many of our associations will allow you to pay for the entire year with a small discount included!
We started offering this valuable resource in January and many of you are NOW watching the market in real time! On a monthly basis this program updates YOU on properties for sale, properties sold during the past 3 months, days on market and much more! The actual feed for the source is from the West Penn MLS.
Here are a few tips to consider when answering the 11 questions. The first three questions are the norm until you get to the “I am.” The program wants to know if you are a buyer or seller. We have found that the system works best if you select “buyer”.
Questions 6-11 all relate to YOUR search criteria. Here are a few zip codes that you may want to use, Hidden Valley (15502), Seven Springs (15622), Donegal (15628), and Somerset (15501). Unfortunately you are only allowed ONE selection for any of these six fields.
HOWEVER, we have an override! For example, if under home type you would consider condos AND town homes we can adjust your search parameters to accept them both! This really gives you a clearer picture of the market activity is in any price range. You just need to ask us to “fine tune” your search!
Remember, the report won’t tell you the variables in the market place such as MARKET ABSOPTION, condition, floor plans, or stats longer than 3months! All critical information you should have in your hands BEFORE buying or selling! That’s why WE are still around! To try out the Market Snapshot program go to Laurel Highlands Home Values.
We try to keep our readers more informed on the current happenings in the Laurel Highlands which includes Hidden Valley and Seven Springs Resorts. Now you are able to set up an RSS feed from our BLOG into your reader. That way you don’t have to search for our updates they come to when we post something new.
Many of you have a dazed look on your face! RSS feed! What’s that?! More technology?? Here’s a short YouTube video from commoncraft explaining what an RSS feed is and how it works!
Ok, now that you have a better understanding of how this will keep you updated on a more timely manner go get your reader! Then open up Laurel Highlands Local, look in the right column and scroll down until you come to the RSS Subscription box.
Click on the RSS symbol and it will ask if you want to subscribe and what folder you want the post to be delivered to. I have one in my e mail folders. That way you will get the latest on what’s happening in the Laurel Highlands, or from any other Blog or news source that you want to hear from!
NEVER HAVE BUYERS HAD THE PRICES, INVENTORY, AND INTEREST RATES THAT ARE NOW AVAILABLE AT BOTH RESORTS! After a ski season like we just had (historically) we see a jump in sales the following fall. Buyers recall the hassle of making the trip here (digging out of the driveway, hoping the roads have been cleared, forgetting ski gear, ect) and decide they should BUY NOW!
Stats for the first 6 months indicate sales just about even with last year sold resale transfers. Sold prices for the first half of the year are slightly higher at both resorts compared to the same time last year! This could be an indication that we maybe at the bottom of the market! SO WHAT ARE YOU WAITING FOR?!
We want to foreworn you that even though interest rates are awesome, down payments are back to being the norm. And we’re not talking 5 or 10%. Before you begin looking at properties have a chat with your loan officer. If you are considering a condo (especially at Seven Springs) you should be talking to the Private Lending Department.
Inventory at both resorts continues to grow ensuring a strong buyers market. Selling or buying you really want to make sure that options are provided to you for sheltering your bottom line! The ONLY way to do that is to work with a DESIGNATED AGENT like us!
The number of resale transfers (18) at Hidden Valley for the first six months are dead even with 2009. Sold prices on this side of the mountain are also up slightly. They went from $183,839 in 2009 to $189,944 for 2010. (Note these numbers are usually higher at the end of the year as more properties transfer.) Inventory continues to climb and is right around 110 properties for sale.
Association Manager Resigns – Greg Baker turned in his resignation and the search for a replacement is ongoing. The committee is hoping to find someone soon!
Beautification Committee – Newly formed this group is really helping to make first impressions matter! Driving through the communities you’ll notice flower baskets on signage and plantings in focal points.
In July we will have the the first half stats to share!
If you would like to see a monthly active and sold report tailored to your specific criteria and delivered to your e-mail sign up for our Market SnapShot. It pulls information out of the West Penn MLS system. We keep a multitude of statistical information and welcome the opportunity to share our market knowledge with motivated parties.
For EVERYONE, the trick in getting relevant information pertinent to your needs is in the set up! Try going into the advanced screen to tailor the market areas YOU are interested in for buying or selling! Better yet catch up with Abe and she’ll help walk you through!
Recorded sales transfers for the resorts are acquired electronically from records inputted at the Somerset County Court House, Office of the Recorder of Deeds. We review sales in Jefferson (Hidden Valley) and Middlecreek (Seven Springs) Townships on a weekly basis. We have the ability to search records in Somerset, Fayette and Westmoreland counties to assist our clients.
Prices do not reflect bill of sales and other out of settlement transfers. Furnishings, which are included in the majority of sales are assigned no monetary value. We do not post transfers that carry $1.00 values.
If you would like to see a monthly active and sold report tailored to your specific criteria and delivered to your e-mail sign up for our Market SnapShot. It pulls information out of the West Penn MLS system. We keep a multitude of statistical information and welcome the opportunity to share our market knowledge with motivated parties.
For EVERYONE, the trick in getting relevant information pertinent to your needs is in the set up! Try going into the advanced screen to tailor the market areas YOU are interested in for buying or selling! Better yet catch up with Abe and she’ll help walk you through!
Recorded sales transfers for the resorts are acquired electronically from records inputted at the Somerset County Court House, Office of the Recorder of Deeds. We review sales in Jefferson (Hidden Valley) and Middlecreek (Seven Springs) Townships on a weekly basis. We have the ability to search records in Somerset, Fayette and Westmoreland counties to assist our clients.
The Hidden Valley market had 9 transfers for the first quarter which continues a downward trend from previous years. The average sales price for these three months was $189,944. That’s just a tad below the number last year! Fewer properties are transferring but the average sales price is holding. The good news for buyers is the inventory keeps growing giving you more properties to compare!
Mortgages still are strong at Hidden Valley with 6 of the 9 transfers showing up with them. If you are a CASH BUYER we strongly encourage you to have an appraisal contingency added to your offer. And as always, whether you are buying or selling make sure you have a designated agent working for you to take full advantage of this market before it is gone!
If you would like to see a monthly active and sold report tailored to your specific criteria and delivered to your e-mail sign up for our Market SnapShot. It pulls information out of the West Penn MLS system. We keep a multitude of statistical information and welcome the opportunity to share our market knowledge with motivated parties.
Historically, big snow winters (like we just went through) tend to increase sales the following fall. Skiers remember the drive and how nice it would be to sleep over! Pick out your mountain get away NOW and take advantage of the BUYERS MARKET!
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