Real Estate Information and Homes For Sale

The principal reason we remain housing bulls is that we have a lot of ground to make up.

It's worth mentioning that the new-home market is not the existing-home market. Many people want new homes, and there aren't as many of them as there was in the recent past. This suggests that we will see a sustained uptrend in housing construction over the next few years. This is important not just for us, but for the economy in general, as housing has historically contributed 2%-to-3% to gross domestic product.

The good news is that we see stronger economic growth and stronger job growth in 2014. The bad news is that this growth will ensure higher lending rates.

 Courtesy of 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.

Strangely Calm and Settled

The employment numbers for November were better than expected. Payrolls increased by 203,000 for the month, which handily beat the consensus estimate for 180,000. These new jobs helped drop the unemployment rate to 7.2% from 7.3%.

Last week, we mentioned that an unexpected spike in job growth would likely move mortgage rates higher. Interestingly, that wasn't the case: Bankrate.com's national survey held steady at 4.55% on the 30-year fixed-rate mortgage. Freddie Mac's survey shows that the rate on the 30-year loan actually declined four basis points to 4.42%.

Some credit-market analysts believe the mortgage-rate spike that occurred last week was a matter of market participants anticipating a strong employment report. That's plausible, given strong gross domestic product (GDP) growth, which also beat most economists' estimates.

More likely, though, uncertainty surrounding the federal budget kept investors in bonds, and, thus, kept mortgage rates under wraps. We say that because after a budget agreement was announced late Tuesday, mortgage rates moved discernibly higher.

This suggests economic growth will pressure mortgage rates going forward. By that, we mean growth will pressure rates to move higher. The meeting of Federal Reserve officials this coming Wednesday will provide further insight. The odds are rising that the Fed will initiate some level of tapering of its monthly Treasury and mortgage-bond purchases within the next couple months.

Frankly, when we look at the rebound in the yield on the 10-year Treasury note – a good proxy for the 30-year fixed-rate mortgage – we see a yield poised to move higher. And as the 10-year Treasury note goes, so, too, goes the rate on the 30-year loan.

But even if rates stand pat, costs on many mortgage products will rise beginning in 2014. The Federal Housing Finance Agency says Fannie Mae and Freddie Mac will increase the fee they charge lenders to guarantee mortgage loans. Of course, consumers don't directly pay for the fees, but lenders must recoup costs. So in the end, the consumer does pay.

Stricter rules on ability to pay also kick in. Stricter rules mean circumstances will arise where people who should get a mortgage won't. There are no free lunches: If costs aren't covered monetarily, they are covered through reduced opportunity.

That said, if rates don't stand pat, and we doubt they will, a 50-basis-point rise isn't out of the question. Many economists predict the rate on the 30-year loan will gradually work its way up to at least 5% by the end of 2014. We think that's a conservative estimate.

If we've said it once, we've said it a 100 times: risk in this market is in the waiting. Holding out for a meaningfully lower rate can potentially be very costly at this point. Courtesy of 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.

Everything is tucked away and out of sight. You can relax now, right? Not so fast! Just because something is put away doesn’t mean it’s put away correctly. Sometimes organizing your abode can actually do more harm than good!

Follow these storage Dos and Don’ts to protect your belongings, keep your family safe and even make your food taste better:

In the Bedroom

DON’T: Hang pearls. If you have a strand of pearls, it requires special TLC. Never hang the strand, because the necklace’s thread will stretch out prematurely. Also, keep the pearls away from other jewelry, because the surface of a pearl is easily scratched. The best place to store pearls is in a silk bag or velvet-lined box.

DO: Store seasonal clothes in a dry spot. Dark, damp areas of the home are basically mold’s paradise! Keep your seasonal clothes safe from mold and mildew by storing them in a dry, well-ventilated area (like under the bed). Unless you live in a dry climate, keep your storage units out of the basement or attic.

In the Bathroom

DON’T: Ignore the space above your toilet. What’s under your bathroom sink? If you have a long list of beauty tools, toiletries and cleaning supplies, it’s time to find those items a new home. Don’t let the spot over your toilet go vacant. Grab a few easy-to-install shelves at your local hardware store and start re-organizing your bathroom supplies above your toilet.

DO: Move medicine out of the bathroom. “Medicine cabinet” is a total misnomer – the bathroom is actually the worst place to store your meds! Bathrooms tend to get hot, muggy and damp – all bad things for medication. Humid environments cause medications to break down and lose their potency far before the expiration date. The best place for your pills is in a desk drawer or a kitchen or dining room cabinet. If you haven’t checked out your medicines in awhile, it’s probably time to safety check your medicine cabinet.

In the Kitchen

DON’T: Keep unused appliances on the countertop. Unless you drink smoothies at every meal, the blender probably doesn’t belong on the countertop 24/7. Same goes for the toaster and the coffee grinder – put them away! Tip: If your lack of cabinet space is forcing the appliances onto the counter, try one of these new spots to store kitchen gadgets.

DO: Store some veggies out of the fridge. Your fridge may have a crisper drawer, but that doesn’t mean every veggie belongs there! Some produce – like avocados, onions and tomatoes – thrive outside of the refrigerator. For a full list, check out: Fridge or Counter: Where Should Fresh Foods Go?

Information provided by BrightNest.com.

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 month or so ago, we opined that home prices would cease to appreciate at a double-digit rate. Perhaps we jumped the gun. Trulia reports average asking prices rose 1% in November compared with October. This helped lift the year-over-year rate to 12.1%.

But in our defense, Trulia reports that price appreciation is slowing in some markets, particularly in ones that experienced the greatest price growth. Among the 100 largest metropolitan markets, the quarterly price increase in the 10 metropolitan areas where prices rose more than 20% year over year fell to 3.7% in November from 6.1% in August. This is no surprise; the hottest markets are always the first cool (and vice versa).

The point we want to emphasis is that many local real estate markets have been hot over the past two years, so we should expect to see more cooling in more local markets. Three months from now, we wouldn't be surprised to see a cooling trend appearing in Trulia's data.

Courtesy of 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.

Will the Fed Cease Ruling the Roost?

Mortgage lending rates have made a beeline northward in recent weeks. This past week, Bankrate.com's national survey of lenders shows the average rate on a 30-year fixed-rate mortgage rose 11 basis points to 4.55%. Freddie Mac's survey shows an even bigger jump, with the average rate on the 30-year loan spiking 17 basis points to 4.46%. (A basis point is 1/100th of a percentage point.)

So what's going on?

By initial appearances, the economy is stirring to life. Revised gross domestic product (GDP) data for the third-quarter point to accelerating economic growth. The latest revision shows GDP growth increased 3.6% when annualized, exceeding most economists' estimates.

The $64,000 question is can the current growth rate be sustained?

As we've seen in the recent past (such as in the fourth-quarter of 2011), a couple quarters of growth are strung together, but the trend peters out. Companies building inventory levels was a key contributor to growth in the third-quarter. Most economists would have preferred to see more capital investment and more hiring leading the charge. That said, companies frequently build inventory in anticipation of increased business activity.

Friday's employment report will provide additional information to the state of the economy. We noted last week that the Federal Reserve keeps a close eye on employment numbers. Fed officials have said they'd like to see the unemployment rate below 6.5%. It stands at 7.3%.

The trend is the key, though. If job growth again beats the consensus estimate – as it did last month – this suggests the GDP-growth trend that's developed over the past year will be sustained. That in itself points to greater loan demand, which will pressure interest rates, including mortgage rates, to move higher.

Just as important, more growth (economic and payroll) will embolden the Fed to finally taper; that is, reduce its monthly purchases of Treasury and mortgage-backed securities. The Fed's demand for these securities has been key to holding mortgage rates so low for so long.

As we all know, mortgage rates have been moving higher ahead of actual data releases. This is normal, because markets are anticipatory: they act on expectations, not what's known at the moment.

It's obvious that more credit-market participants expect stronger economic growth; hence the rise in mortgage rates. Should Friday's job numbers support that contention, by meeting or beating the consensus estimate for 180,000 payroll additions in November, rates will likely move higher still. We stay that because exceptions for stronger future growth will rise.

But nothing is certain. The majority can be wrong – as it was when it expected the Fed to begin tapering in September. If job growth disappoints, interest rates will likely fall because the Fed will have less incentive to taper.

Back in September, we were among the correct minority: We didn't think the Fed would taper. More recently, we thought the economy still wasn't that strong and that the Fed might not begin to taper until 2014. We still believe the Fed will hold off until next year. That said, next year is less than a month away.

The bottom line is that pressure is building for the Fed to taper, which strongly suggests mortgage rates are much more inclined to go higher in coming months.

Courtesy of 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.

If your idea of decking the halls includes a live evergreen heavy with lights and tinsel, you’re not alone. In fact, over 29 million households are getting a real tree this year to adorn their living rooms and twinkle through their front windows. Keep your perfect tannenbaum alive (with its needles intact) by following these easy steps:

Inspect the Needles

When you’re at the nursery picking out your tree, inspect the needles – they should feel flexible, not dry and brittle.

Trim Your Tree

Before you put your tree in its stand, cut off the bottom inch of the trunk to provide a fresh surface for water uptake.

Water the Tree

As soon as possible, get the tree in water. The base of the tree should never dry out, so make sure your water bowl doesn't become empty! A basic rule of thumb is that a typical tree will absorb a quart of water each day for every inch of trunk diameter.

Give 'Em Something Sweet

This is up for debate, but some people swear by adding sugar, aspirin or corn syrup to their tree’s water. While there is no scientific data backing these substances, we say don’t knock it ‘til you try it. If sugar has worked for you in the past, keep on adding the sweet stuff!

Block the Sun

Keep your tree away from direct sunlight, heaters and fans because these things will speed up the drying-out process.

Keep It Humid

If you have a humidifier in your house, put it in the tree-room. It will help keep the needles fresher long, as well as reduce the risk of fire.

If all of this seems like too much work, opt for a potted tree instead. You can find them at your local nursery. Bonus: Instead of slowly dying in your living room, potted trees can be donated to the parks department or replanted in your yard come January!

Information provided by BrightNest.com.

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.

The mortgage market has been subdued, and we don't expect that to change until Dec. 6 when the all-important November employment report is released. The report for October was exceptionally strong, and motivated a few Federal Reserve governors to ponder “tapering” the Fed's bond purchases in December.

If the employment numbers come in strong again (payroll growth above 200,000), the odds measurably increase that the Fed will undertake tapering as soon as December. The amount and pace of tapering – if any – is anyone's guess. But should the Fed begin to taper, mortgage rates will surely rise. How much they will rise, again, is anyone's guess, because the Fed will attempt to moderate any rate increase. Whether it can actually do that is another story.

We have to confess that we're still somewhat circumspect on the strength of the October employment numbers (which were likely hastily compiled). We would not be surprised to see them revised lower; nor would we be surprised to see payroll growth come in below the consensus estimate of 180,000. Economic growth appears to be gathering momentum, but still not enough to maintain payroll growth near 200,000 per month.

With that said, higher lending rates loom in the future – if not this month, then very likely within the next quarter. So at this point, waiting to buy a home with a purchase mortgage or waiting to refinance a current mortgage makes no economic sense.

Courtesy of 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.

Home Prices Continue to Chug Along

A month or so back we thought a slowdown in the rate of home-price appreciation was upon us. After all, data from the NAR and the Census Bureau pointed to stagnating national median home prices.

But the latest issue of the S&P/Case-Shiller Home Price Index suggests otherwise. The index showed prices in its 20-city index increased 0.9% month over month in September. For the second-consecutive month, prices increases swept all 20 cities. This latest increase lifted the year-over-year gain to an impressive 13.3%.

We'll be interested to see what Case-Shiller reports for October. Data we've seen from Zillow and CoreLogic suggest some slowing in the rate of price appreciation. Our own anecdotal experience also suggests some slowdown in more local markets. We'd like to see if empirical evidence bears this out.

Unfortunately, empirical evidence still bears out weak sales growth. The Pending Home Sales Index slipped 0.6% to a 102.1 reading in October. The index is at the lowest level in nearly 12 months. Contract signings were likely impacted by the government slowdown, which made verifying income difficult for anyone needing a purchase mortgage. At the same time, rising prices and low inventory continue to impede sales.

Given the strong price increases over the past year, we're surprised we haven't seen more homes come to market. Rising prices always increase supply. With housing, though, the increase has been less than we expected.

Nevertheless, we are seeing at least a marginal increase in inventory, which is up 3.2% for the year. To be sure, i nventory remains very low, but if it continues to increase, you can be assured that the rate of home-price appreciation will slow. Rising supply always leads to a slowdown in the rate of price growth, if not an outright price reduction (which we don't expect).

New construction is another factor in raising overall supply. The Census Bureau hasn't published housing starts in a couple months due to the government slowdown, but it did release data on permits. On that front, permits for residential construction increased to 1.034 million units on an annualized basis in October, a considerable increase over the 918,000 units in August.

Unfortunately, all the gains are attributable to the multi-family segment. Single-family permits posted at 620,000 units on an annualized basis in October, which is actually a decreased compared with the 627,000 units in August.

The encouraging news is that we've seen a recent uptick in purchase-mortgage activity. Now, we'd just like to see this recent uptick morph into a long-term trend.

Courtesy of 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.

You probably haven’t gotten your first blast of freezing weather yet, but winter is right around the corner. You wouldn’t go outside without a warm coat in December, so don’t leave your house defenseless against the elements, either!

Here are five ways to prep your house for winter:

Insulate Your Hot Water Heater

For a lot of homes, the hot water heater is one of the biggest energy users in the house. This is especially true if your heater is located in a non-insulated room like the garage. Just think how much harder your heater has to work to deliver those piping hot showers if it’s sitting in a 30 degree room! Consider adding an insulating blanket over your heater to maximize its efficiency this winter. For more ways to save energy and money, read: Inspect and Maintain Your Water Heater.

Bundle Up Your Attic and Crawlspaces

Gaps and holes in your insulation are similar to having gaps and holes in your coat. They kind of defeat the purpose. By repairing your insulation, you can save more than 20 percent on your utility bills this winter. To learn how, read: Inspect and Repair Your Insulation.

Protect Your Pipes

 When water freezes, it expands. If it’s inside a pipe when it expands, the water breaks the pipe and leaves you with a gargantuan repair bill. To prevent this, shut down your sprinkler system and hose spigots before the first big freeze of the year. To protect your indoor pipes, be sure to never set your thermostat below 55 degrees F (even if you’re going out of town for an extended period of time).

Schedule a Checkup for Your Furnace

We’re entering the prime furnace-usage season, so if there’s a problem, you want to take care of it now, not when it’s 10 degrees outside. Schedule a routine checkup for your furnace to make sure everything is kosher.

Perfect a Warm Drink

Now that your house is prepped for the cold, it’s time to get your winter libation figured out. If hot chocolate is your thing, nothing beats this indulgent Mexican hot chocolate recipe from Babble. For an adult version of the winter beverage, try this hot toddy from Tyler Florence.

Information provided by BrightNest.com.

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.

The latest data on existing-home sales were something of a head-scratcher. Things didn't quite move the way we expected.

For one, prices on the national level continued to move higher, and meaningful so. The median price rose 0.5% to $199,500 in October. This latest increase pushed the year-over-year increase to 12.8%. Given the recent data on slowing price appreciation, we were expecting a less robust gain.

Nor were we expecting a continued reduction in existing-home inventory, which fell a third-consecutive month to 2.13 million units. The prospect of slowing price appreciation can motivate people to list their home. More people in positive-equity territory is another motivator. According to Zillow's Negative Equity Report, the national negative equity rate fell to 21% in the third quarter from 31.4% at its peak in the first quarter of 2012.

When asked about the direction of this market – both mortgage and housing – perhaps simply pointing in opposite directions and saying “ it's going that away ” isn't so silly.

Courtesy of 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.