July 6, 2010
Marcellus Shale, we first started bringing you information of these gas leases back in 2008! That’s when our State REALTOR Association (PAR) had Attorneys Lester Greevy and Dale Tice from Tioga County speak to our members. They specialize in these types of contracts. In June we saw our first “Hydrocarbon Deeds.” These two transfers were both filed in Jefferson Township (the Hidden Valley side of the mountain) and totaled over 3 MILLION DOLLARS!
Yes, the type of deed caught our eyes but the $1,638,127.49 and $1,371,041.49 transfer prices made us dig a little deeper! Usually deeds for transfer of minerals are recorded WITH A $1.00 PRICE tied to them with NO transfer tax involved. Here’s a copy of one of Hydrocarbon Deeds if you’d like to take a peek!
Both transfers were from company to company. In fact the Grantor on both transactions was BRC Minerals, LP from Texas and the buyers were; Oxy USA, Inc a Delaware corporation with a Texas address and BP Mineral Holdings II, LLC also a Texas company.
Here are some questions and thoughts that came to us. Did they really pay for only a partial interest? It appears that these transfers were for only 23-25% “undivided interest (on an eight-eights (8/8ths) basis)”. That just says to us they didn’t get the whole cow!
Where was the parcel? Of course we were thinking that it was one large farm. As the transfer was from and to out of state companies we were trying to figure out where the well would appear! After trying to read the deed and pulling up previous deeds we saw that there are MULTIPLE PROPERTIES INVOLVED!
The transfer tax was divided among 16 different school districts! Even though it is Greek to us we’ll do our best to keep you updated with resources!
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Consumer Info, Laurel Highlands | Tagged: Consumer Info, Marcellus Shale, market report | 
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Posted by admin
June 8, 2010
You be the judge, our clients know! We thought it would be interesting to compare a few of the properties that have sold this year to the same design that sold before it (we only went back to last year) and see if the sales prices are higher or lower.*
As you review the numbers keep in mind that factors such as location, financing, appraisals or lack thereof, condition, and furnishings could impact the final sales price. Consideration to these variables should be discussed during the decision making process with your designated agent. Are you sure you know what’s happening with the market?
| Area |
Design |
Price |
Year |
| SunRidge |
Libra |
$350,550 |
May 2010 |
| |
|
$320,000 |
Jan 2010 |
| |
|
|
|
| Southwind |
Somerset |
$547,000 |
February 2010 |
| |
|
$580,000 |
September 2009 |
| |
|
|
|
| Southwind |
Lancaster |
$630,000 |
February 2010 |
| |
|
$675,000 |
October 2009 |
| |
|
|
|
| Swiss Mtn |
Matterhorn |
$204,000 |
March 2010 |
| |
|
$200,000 |
March 2009 |
| |
|
|
|
| MeadowRidge |
Tarragon |
$289,900 |
May 2010 |
| |
|
$230,000 |
March 2010 |
| |
|
|
|
| SunRidge |
Gemini |
$295,000 |
April 2010 |
| |
|
$253,000 |
November 2009 |
| |
|
|
|
| WoodRidge |
Evergreen |
$375,000 |
May 2010 |
| |
|
$350,000 |
August 2009 |
Our clients are given past and present details of sales, listings, and an overview of issues that are looming in the future for them to digest BEFORE MAKING A BUYING OR SELLING DECISION. This gives them a competitive advantage!
We’ve kept detailed records of the market activity at both resorts for many years and encourage all buyers and sellers to be represented by a DESIGNATED AGENT. That is someone that is looking out for your interests ONLY! Call to see if the services we offer can help you!
*Transfers were acquired from court house records. Only similar designs were used going back to 2009.
Leave a Comment » | Seven Springs | Tagged: 7 Springs, market report, Market Update, real estate, Seven Springs | Permalink
Posted by admin
May 7, 2010
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.
Leave a Comment » | Seven Springs | Tagged: 7 Springs, Laurel Highlands, market report, real estate, Seven Springs | Permalink
Posted by admin
May 7, 2010
| 5026 |
Summit View |
|
$216,000 |
| 1235 |
Gristmill |
|
$102,000 |
| 2424 |
South Ridge Plaza |
|
$407,500 |
| 6 |
Black Cherry |
|
$295,000 |
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.
Leave a Comment » | Hidden Valley | Tagged: Hidden Valley, Laurel Highlands, market report, real estate | Permalink
Posted by admin
March 3, 2010
| 53 |
Southwind |
|
$547,000 |
| 4308 |
Swiss Mtn |
|
$225,000 |
| 7 |
Southwind |
|
$630,000 |
We keep a multitude of statistical information and welcome the opportunity to share our market knowledge with motivated parties.
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
Leave a Comment » | Seven Springs | Tagged: 7 Springs, market report, Market Update, real estate, Seven Springs | Permalink
Posted by admin
March 3, 2010
| 1228 |
Gristmill |
|
$138,000 |
| 36 |
Stonewood |
|
$70,000 |
We keep a multitude of statistical information and welcome the opportunity to share our market knowledge with motivated parties.
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.
Leave a Comment » | Hidden Valley | Tagged: Hidden Valley, market report, real estate | Permalink
Posted by admin
November 3, 2009
Dear Broker, agent, or client with an active interest in Laurel Highlands properties located in the SW Pennsylvania real estate market. You are on the confidential “property update” e-list of “Abe” and “Wags” Wagner, Realtors and resort property specialists, Prudential Preferred Realty. If this comes to you in error or is a duplicate our apologies, just let us know and we will correct our mistake. This update is not an attempt to solicit the offerings of other brokers and is for informational purposes only. Properties referred to are those listed or represented by our team and do not represent all properties in market area. If you are a hot buyer/seller contact us for daily updates, you will need them in this market. For previous reports go to our Property Update page at www.AbeAndWags.com. To contact us use the e-mail in the signature block or reply to this update.
BETWEEN THE NUMBERS/ OUR READ ON THE MARKET
With active listings at 96 for Hidden Valley and 94 for Seven Springs inventory continues to set record highs. The stats we watch indicate this trend will continue at least through next year. Prices are becoming more competitive and will be contracting further as inventory rises. The drop in the average sales prices for properties transferred through the third quarter of this year compared to years gone by is proof of the market changes.
We urge you to take advantage NOW of the great selection of properties available at both resorts! Yes, inventory may continue to grow but inflation is on the horizon!! With inflation will come higher interest rates. Get the most bang for your buck TODAY and enjoy the winter festivities!!
There’s a ton of good, bad, and outdated information to be found on the Internet. Interpreting the information is critical when giving guidance to buyers and sellers. Make sure you are in a designated relationship with your REALTOR.
For more current information on this area we are frequently updating our BLOG with resort property transfers and news events.
Get the sellers disclosure, MLS information, room sizes, taxes, fees, and virtual mapping on the “Property Information” page.
For Visual Tours and photos of all our listings go to “VIEW OUR LISTINGS” .
Review our past newsletters on www.ABEandWAGS.com for the update of news events in this area influencing property values and homeowners.
For a FREE NO OBLIGATION referral to an experienced and knowledgeable REALTOR in SW PA or other resort areas contact us a Wags@AbeandWags.com.
Leave a Comment » | Hidden Valley, Laurel Highlands, Seven Springs | Tagged: Laurel Highlands, market report, property for sale | Permalink
Posted by Adrienne Abe Wagner
