Real Estate Information and Homes For Sale

How much sun does your home receive? Is your roof south facing? And does your state offer tax incentives? These are just a few of the questions to consider before installing solar panels on your home.

Solar energy comes with a lot of benefits, including lower energy bills and a reduced carbon footprint, but these benefits can vary a lot from one house to the next.

So, should you install or not? Well, that depends. Before making a final decision, always contact a clean energy professional to discuss the specifics of your home and your needs, including the amount of sunlight your area typically receives.

Additionally, consider the following frequently asked questions before deciding if solar energy is right for you:

Can I afford the upfront cost?

The price breakdown of solar panels is typically about $5 per watt with installation. So, the average cost of solar panels on a 3kW system in a residential home is $15,000 with installation.

Can my home properly accommodate solar panels?

The exact same solar system on different homes can produce vastly different results. Energy production depends on factors like trees, roof angle, roof size, temperature, latitude, degradation of panels and orientation. To get a more exact estimate of what you should expect from a system on your home, contact a local professional.

Will I get a tax credit?

Until December 31^st, 2016, there is a residential federal tax credit of 30 percent when a solar panel system is installed. There are also various state-specific tax credits available. To find out if there are any tax credits offered by your state, visit the Database of State Incentives for Renewables and Efficiency.

How much money will I save each year?

Again, the amount of energy produced by your particular solar system can vary greatly. But, Nerd Wallet estimates that the approximate yearly savings on your energy bill from solar panels is about $600. So if you pay $15,000 to install a solar panel system, it would take 25 years to recoup your entire investment.

If I sell my house, will I recoup my investment?

Given the ever-changing nature of solar panel technology, you should not assume that you would recoup the cost of solar panels when selling your home. Think of it like this: When you first bought a flat screen television, it was fancy, new and expensive. But, as time goes by, the cost of flat screen televisions goes down. So, if you were to sell the television with your home, you’d have to lower the price from the amount you originally paid for it. Solar panels work the exact same way.

Bottom line: Unless you live in an extremely sunny climate and expect to live in your home for at least 25 years, you may not receive a high return on your investment. Cost of Solar has outlined which states and climates may be best for solar, which is a good first hand glance at the cost benefit of solar. But, solar panels will undoubtedly lower your carbon footprint, which should also be considered when deciding if solar panels are right for you. 

As a homeowner, there are countless tweaks and additions you can make to your abode. If you’re enthusiastic, Home Depot can eventually start to feel like an all-you-can-eat home improvement buffet of fun. But before you go into project-planning overdrive, slow down! It’s important to be selective with your add-ons because some changes can actually devalue your home. Here are six things to double-check.

1. Removing a bedroom. If you’re an empty nester, it can be tempting to convert that unused boudoir into the home gym you’ve always dreamed about. But the number of bedrooms in your home directly affects its value, so ask yourself: do you really need the new room? If the answer is “yes,” just make sure the changes continue to meet building codes for a bedroom (these can vary, so it’s best to check with a professional). That way, you can still market the space as a bedroom. Note: Even if the room meets bedroom building codes, its perceived value will drop if it’s being used for something else. So if you’re planning to sell in the near future, it may be best to leave the bed!

2. Mediocre renovations. A quality, well-installed kitchen island is a great way to boost your home’s value. But imperfect work is easy for potential buyers to spot, and if they feel like your renovations will need to be tweaked (or redone entirely), they may lower their offer. To avoid this problem, carefully weigh the pros and cons of doing a project by yourself before you begin. If you decide to hire help, make sure you vet your contractor thoroughly!
    
3. Showcasing a satellite dish. Let’s be clear: there is absolutely nothing wrong with 1,000 premium channels of HD entertainment. The more the merrier! But if a prospective buyer can see your satellite dish as soon as they turn onto your block, your curb appeal is going to take a hit. If you get a dish installed, work with the technicians to place it in an out-of-the-way spot.
    
4. Sporadic home maintenance. Big renovations tend to take the spotlight when it comes to increasing your home's value, but regular maintenance can be just as important! In fact, without proactive maintenance – like cleaning lint from the dryer or changing your furnace filter – your home could lose up to 10 percent of its value. Routine maintenance not only protects the value of your property – it can also enhance curb appeal, ensure safety and prevent simple problems from turning into costly repairs. If you’ve fallen a little behind, that’s not a problem. It only takes one hour to get back on top of things.
    
5. Smoking inside. The whole “post-intimacy” cigarette looks cool in movies, but it’s not as suave when it comes to your home’s value. In fact, one survey revealed that some buyers believe smoking inside of a house can lower its value by as much as 29 percent! When you combine this with the fact that fires caused by still-burning cigarette butts are the leading cause of home-fire fatalities, smoking outside becomes a no-brainer.
    
6. An above-ground pool. Depending on where you live, an in-ground pool can bolster your home’s value by as much as 11 percent. However, the above-ground counterpart isn’t as popular. Since they aren’t as visually appealing, buyers will tend to focus on the negatives of the pool (maintenance costs and safety hazards), and your home’s purchase price may take about a two percent hit. Note: If you and your family simply can’t live without some pool-side fun, don’t let this deter you! You can’t put a price on epic water-basketball matches or fun Marco Polo sessions.

The housing market is a mixed-bag nationally. The mortgage market, on the other hand, is trending higher.

To be sure, we are still plagued by a dearth of purchase activity (though purchase applications increased 0.3% for the latest reported week). We'd love to see purchases trend materially higher; for no other reason that it will signal a more normalized housing market – one driven by owner-occupied buyers.

We mentioned a couple weeks ago that lending standards have eased considerably over the past two years based on the MBA's Mortgage Credit Availability Index . We don't expect that trend to reverse. We see further easing in the future.

For one, the state of the mortgage market looks pretty darn good. Black Knight (formerly LDS) reports loan delinquencies are down 15% year over year. Overall, foreclosure inventory is now at its lowest since May 2008.

Fewer loan delinquencies and lower foreclosure inventory are by-products of improved job growth and higher home prices. On job growth, the economy has been adding 200,000+ new jobs a month for the past five months. An improving employment outlook makes lenders more willing to lend – more jobs, more risk tolerance.

At the same time, mortgage loans are still cheap. Bankrate.com shows the national average on the 30-year fixed-rate loan below 4.3%. Freddie Mac shows it below 4.15%. These are 2014 lows.

Today, the mortgage market is as favorable to lender and borrower alike as it has been in the past six or seven years. Therefore, we highly recommend borrowers take advantage of the opportunity, because it's impossible to know how long it will last.

Information provided by Jessica Regan.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.

It has taken nearly a year, but existing-home sales are finally moving in the right direction. Sales were up once again, climbing 2.6% to a seasonally adjusted annual rate of 5.04 million homes in June. This marks the third-consecutive month of national gains.

The existing-home market appears as healthy as it has been for some time. Sales were up, and so were prices. The median price of an existing home increased a stout 5.3% month over month to $223,300. What's more, total existing-home inventory rose to a 5.5-month supply at the current sales pace.

So we have rising inventory and rising sales, which point to a lower rate of price appreciation. As more supply comes to market, price growth will naturally ease (though the rate of easing will be tempered by additional demand). Slower price growth coupled with a consistent level of inventory and demand point to a healthier overall market.

Many market participants were encouraged by double-digit annual price increases after the bubble burst in 2008, but double-digit annual increases aren't the norm. They can lead to another bubble if they continue for an extended period. This is why we welcome annual price appreciation in the low-to-mid single digits at the national level.

Of course, local markets are impacted by variables unique to the area – demography, supply, demand, job growth, composition of jobs, etc. – but over the long-haul the rate of price appreciation and the rate of sales will tend to moderate to a lower-single-digit mean.

The good news is the existing-home market is progressing at the national level. The bad news is the new-home market is regressing. This is somewhat surprising, given the strong gains in home-builder optimism in recent months.

New-home sales were actually quite pitiful in June, plunging 8.1% month over month to 406,000 units on an annualized rate. The drop in sales raised supply to 5.8 months vs May's 5.2 months. Total new homes for sale increased to 197,000 vs 191,000.

What's more, discounting couldn't even move inventory. The median price of a new home declined 3.2% month over month to $273,500. Year over year, the median price of a new home is up 5.3%, but sales are down 11.5%.

If demand falls to pick up, either more discounting is in store or fewer homes will be constructed. If either scenario materializes, you can be sure builder sentiment will dive.

Information provided by Jessica Regan.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.

Do you treat your home like your ATM card?

Many Americans apparently do, according to recently released housing data. The Wall Street Journal reports that in the first quarter this year, homeowners took out more than 230,000 home-equity lines of credit, also known as HELOCs, giving them access to some $23.4 billion—the highest quarterly figure since 2008.

What’s behind the peak in borrowing? Lenders are offering more attractive interest rates (the average HELOC rate was 5.01% in June, down from 5.16% a year ago) and allowing people to borrow a greater percentage of their home’s value. Homeowners are taking advantage of the lower rates and greater access to help pay for renovations or even to buy new homes, as well as to pay off non-housing-related costs like emergency expenses and higher-interest credit card balances or personal loans.

While it might be tempting to take on new debt in order to pay off old ones, there’s a hidden danger in doing so: Defaulting on a HELOC could carry far worse consequences than defaulting on a credit card or other type of loan. Because you’re putting up your home as collateral, a lender can foreclose if they don’t get their money back.

And homeowners who use their lines of credit to buy a new home put themselves at risk because a drop in home prices could mean that, with your mortgage and what you’ve borrowed from your HELOC combined, you end up owing more for your property than you could sell it for.

Still, there are some benefits to HELOCs over conventional loans. For starters, unlike with a home-equity loan, you’re not receiving a lump sum of cash; you’re only borrowing the amount you need, which may or may not be up to the full line of credit. And if you draw down only a small amount at a time, you only have to pay interest on that amount—just make sure you’re aware of changing interest rates, as HELOCs typically have adjustable rates rather than fixed ones.

A couple weeks ago, we lamented the dearth of young adults venturing out on their own. Indeed, Pew Research , a think tank, reports that nearly one in four young adults (age 25-to-34) still live with their parents, more than double the 11% who lived with their parents in 1980. We reasoned that many of these young adults have either poor job prospects or are weighted down by onerous student-loan debt.

Perhaps we over-reacted a bit. Now, it appears more of these young adults are willing to become actual adults by moving out on their own. What's more, many of them are buying a home. Trulia reports that the number of young adults age 18-to-34 who became homeowners rose 0.9% in 2013. Trulia's data contrast with Census Bureau data that show ownership fell by 0.1%.

More millennials entering the market would be the start of an important housing trend. Better yet, it would be the start of a trend with considerable staying power.

A large percentage of young adults out of the housing market is a source of large pent-up demand, which could lift overall demand for years to come. As more millennials enter the market, they will have a ripple effect that will lead to more demand for more expansive homes. As millennials become more established in their jobs, they'll naturally seek to trade up.

Living with mom and dad is comfortable, but unhealthy as an adult. Eventually everyone has to make a break. This basic fact of life bodes well for housing over the long term.

Information provided by Jessica Regan.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.

A Tale Of Two Markets!

Actually, we refer to one market – the new-home market. But we say two, because we refer to the new-home market now and the new-home market in the future.

As for the here and now, the market appears somewhat languid. New-home starts come in at 893,000 units on an annualized rate in June. This is 9.3% lower than the revised 985,000 units posted in May. As for the important single-family segment, starts come in at 575,000 units on an annualized rate, which is 9% lower than the number of units in May.

The good news is that the future new-home market appears more robust – at least that's our take from the latest Home Builder Sentiment Index .

Builder confidence for new single-family homes surpassed an important milestone in July, rising four points to a reading of 53. Anything above 50 indicates that builders are more positive than negative on the outlook for new-home activity. This is the first time since January that the index has crested above 50. This suggests we should look forward to more new-home construction and more new-home sales in coming months. Let's hope that's the case.

We say “hope” because we'd be more optimistic on a pick up in both new- and existing-home activity if we saw a pick up in purchase-mortgage activity. Unfortunately, weekly activity across the country is down, and not by an insignificant percentage. The Mortgage Bankers Association reports its purchase index fell 8% for the July 11 week, more than reversing a 4% gain in the prior week.

Of course, we offer our usual caveat: all markets are local. So, what occurs in any local market doesn't necessarily jibe with a national number. (For instance, a large slice of fewer housing starts in June was centered on the South.) Still, we would like to see more purchase activity, especially purchase activity driven by the owner-occupied buyer.

Fortunately, rates are still very favorable for anyone seeking financing. Bankrate.com's national survey has the 30-year fixed-rate conforming loan pegged at 4.3%, about where it has been for the past month. Freddie Mac's survey has the 30-year loan at 4.13%.

To be sure, mortgage rates have shown little inclination to go anywhere, but another month or two of 200,000+ monthly job gains could easily (and quickly) set rates on a path to higher ground.

Information provided by Jessica Regan.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.

Tight credit is frequent lament. In a Redfin survey , 16% of respondents stated that difficulty in obtaining financing was a challenge in the second quarter of 2014 compared to 8% in the first quarter.

This might be the perception, but the reality is that credit is gradually becoming easier to obtain, and that's been the case for the past two years. The Mortgage Bankers Association Mortgage Credit Availability Index continues to creep higher. In June, the index posted at 115.8 compared to 115.1 in May, which was better than the 113.8 in April. The index was set at 100 in March 2012.

To be sure, the younger crowd still has some difficulty with financing. As we noted a couple weeks ago, high student- loan debt is an issue. Obviously, that drives up the debt-to-income ratio. That aside, the issues aren't materially different for younger people today compared to younger people of previous generations. When starting off in life, most of us lack assets and have to scrimp to get head. That hasn't change.

The good news is housing continues to change for the better for all age groups. Price appreciation is falling back in line with historical norms. The prospect of slower price growth will bring more homes to market; there will be less incentive to hold out for a higher price. This, in turn, will further slow price growth.

The bottom Line: More people will be able to afford a home, and more funding will be available to those who want to buy a home. That's good news for everyone .

Information provided by Jessica Regan.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.

Bill Gross Just Bought $60-Million Worth of Bonds: Why That's a Big Deal

The name Bill Gross is meaningless to most Americans. For those in finance, it's different. The name is universally known, because Bill Gross is the preeminent bond investor in the country. Specifically, Gross manages the $270-billion PIMCO Total Return Fund Institutional closed-end fund, which is the largest bond fund in the United States.

Gross' actions attract attention. This past week, he attracted considerable attention when it was revealed he had poured $60 million of his personal wealth into bond funds he manages. This $60 million is on top of the $140 million he already has invested in these funds.

In short, Gross in betting in a big way that low interest rates will remain low for quite a while longer.

When you look at the yield performance on the 10-year U.S. Treasury note over the past six months, it's difficult to disagree with Gross' bet. Yields have actually shown more of an inclination to go lower than higher.

The 10-year Treasury note is a good proxy for mortgage rates, particularly the 30-year fixed-rate loan. If you lack access to immediate mortgage information, a quick glance at the yield on the 10-year note (readily accessible at Yahoo! Finance) will give you a good idea to the direction of rates.

As for the actual 30-year fixed-rate loan, it remains subdued. Bankrate.com had the 30-year loan averaging 4.31% for the past week, a slight increase over the previous week. Freddie Mac had it at 4.15%. Over the past day or so, the rate has actually drifted a little lower.

Last week, we cautioned that another strong jobs report – which we got – would pressure rates to rise. Rates rose, but only by a few basis points. That interest rates remain low in the face of improving job prospects (which is indicative of an improving economy) suggests there is little impetuous for interest rates, in general, and mortgage rates, in particular, to rise.

As for our prediction of 5% on the 30-year fixed-rate loan by the end of the year? Anything can happen, but it's a more distant target than it was at the beginning of the year. That said, we still have nearly six month until Dec. 31. By October, the Federal Reserve is expected to have ceased buying Treasury notes and mortgage-backed securities (MBS). What's more, the Fed will likely cease or cut back reinvesting interest and principal from maturing notes and MBS into more notes and MBS.

Basically, this means that the Fed – a key factor to low mortgage rates for the past six years – will be a much smaller player as we progress through the fourth quarter. What this means to the direction of interest rates is anyone's guess. At least we know what Bill Gross' guess is – rates will remain low. But, of course, that's subject to change.

Information provided by Jessica Regan.

Search all Harrisburg PA homes for sale.

When you are buying or selling property in today's Harrisburg PA real estate market, it's important to have confidence in your real estate professional. Don’s commitment as your Harrisburg PA REALTOR® is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why Don’s goal is to keep you informed on trends in Harrisburg PA real estate. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of Harrisburg PA area communities, Don’s objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call me at (717) 657-8700, complete my online form, or e-mail me at don@donroth.com.