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!
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!
Resale transfers for January 1 through June 30 are a tad below numbers for last year. In 2009 there were 18 sales recorded through the end of June, this year that number was only16. HEADS UP BUYERS! The average sales price showed a slight increase from $295,491 in 2009 and it’s now at $317,000. (Note these numbers are usually higher at the end of the year as more properties transfer.) Active listings continue to grow with the number still hanging around 100.
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.
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.
Watch for our posting of comparable properties! We took transfers from this year and went back to the last similar property (no further than 2009) to share what’s happening with prices!
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.
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.
The first quarter re-sales show that 8 of the 10 transfers at Seven Springs were CASH DEALS. In other words there were no mortgages recorded against the property purchased. In theory that could mean no bank involvement, no appraisal, and possibly no title report.
It could also mean that these folks used a home equity line, cashed out stocks, inherited some money or had it stuffed in their mattress. If you are a CASH BUYER we strongly encourage you to have an appraisal contingency added to your offer.
Sales are up from the past two years where there had been only 6 transfers for the first three months. So is the average sales price, going from $285,641 in 09 to $317,000. From years gone by we can share that when we experience a winter like we just had, sales tend to jump!
There’s plenty of inventory and awesome rates. 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.
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!
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