Real Estate Information and Homes For Sale

The latest data from the US Census Bureau show the homeownership rate in the United States at its lowest level since the bureau began tracking the rate in 1965. As of the second quarter of 2016, the homeownership rate had dropped to 62.9%.

The bursting of the housing bubble is a major contributor to the decline. That said, the rate has actually been declining since 2004 when it peaked at 69.2%. After the bubble burst, the percentage of people who didn’t own a home accelerated.

Many commentators point to the rise in consumer debt or lack of income growth for the downward trend in homeownership. We’re not so sure.

A lot has been said about rising consumer debt, particularly debt tied to student loans. Indeed, student-loan debt has trended higher, rising to $29,000 in 2014 from $18,550 a decade earlier, according to Institute for College Access and Success data. Roughly 70% of graduating seniors graduate with some debt.

Yes, student-loan debt is an issue, but only if it’s out of hand relative to disposable income.  It may not be quite as out of hand as some pessimistic prognosticators lead us to believe.

Consumer debt as a percentage of disposable income stands at 5.5%, where it was 25 years ago. The percentage has actually dropped a full percentage point since 2001. For younger people, student-loan debt might comprise a larger percentage of overall debt, but if the debt is used to fund an education that leads to a marketable degree, it’s really an investment. Researchers at the New York Federal Reserve estimate college graduates earn about $1 million more over their lifetime than those without a degree.

As for income, it’s true: Real wages have stagnated, but they’ve stagnated since 1964. (Real wages are wages adjusted for inflation. Nominal wages, which are unadjusted for inflation, continue to rise.)  But as is always the case when dealing with large averages, meaningful details are frequently lost.

Quality is one meaningful detail. A real hourly wage buys more quality today compared to 1964. For example, televisions of today are not only infinitely superior in every way to televisions of 1964, they’re cheaper as well. Quality also demands a lower percentage of wage income today than in 1964. Real wages might have stagnated over the past 50 years, but you get more bang for your real-wage buck year after year.

Demand more than anything points to a trend reversal. The vast majority of us prefer to own than to rent a home. This preference also resonates with younger adults. Surveys from Fannie Mae continually show that over 90% of millennials are optimistic they will eventually own a home.

In short, we don’t see a problem with the current homeownership rate, because we see the opportunities that will arise when it trends higher. 

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.

Slow and Easy, for Now

It sure feels like the middle of summer.  It felt that way last week; it feels that way this week. There’s not much going on.

We mentioned that with the Brexit vote fading into a distant memory and the lack of any important news pending domestically or internationally, financial markets would likely go on hiatus. We even predicted that lending rates we saw last week would persist into this week and beyond.

So far, we’re right (but when predicting interest rates, you never want to do a victory lap). If you asked for a quote on a conventional 30-year mortgage last week, something between 3.5%-to-3.625% would have been a reasonable reply. That range has held this week (though we should note that the 3.375%-to-3.5% range is gaining in popularity).

We shouldn’t be too surprised rates hold current levels. Second-quarter gross domestic product (GDP), reported last Friday, wasn’t particularly encouraging. Growth posted at a 1.2% annualized rate, below most economists’ expectations.

No need to fret, though. Within the GDP report, nuggets of good news could be found, most could be found in housing. Residential investment remains robust. The segment includes new single-family structures, multifamily structures, home improvement, brokers’ commissions, and other ownership transfer costs.

Focusing on single-family-structure investment, it posted at $242 billion for the second quarter. That’s a slight drop from the first quarter, but year over year investment is up 7.3%. Current investment in single family homes is roughly 1.3% of GDP. From a historical perspective, that’s low. Annual single-family-structure investment has historically averaged between 2% and 2.5% over the past 55 years.

People frequently overlook this fact – investment drives the economy as much as spending. Residential investment should continue to do its part to drive the economy forward.

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.

This low-cost, all natural DIY insect repellent is easy to make and will let you linger outdoors for longer without getting swarmed. That way you can make the most of summer evenings without worrying about bug bites. 

Here's how to make it:

Supplies:

• essential oils of scents bugs hate (we like tea tree oil, rosemary oil, and citronella oil. Other great options are clove oil, lavender oil, and cinnamon oil.)
• eyedropper
• spray bottle
• warm water
• witch hazel (you can swap out with rubbing alcohol if you don’t have any witch hazel on hand)

Mix your ingredients in the spray bottle. Use the eyedropper to add up to 50 drops of your essential oils. You can use more drops if you like your scent to be a little stronger. 

Spray liberally before heading outdoors and use as needed. If you have some leftover, you can store it in the fridge. 

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.

We continue to see a strong future for housing, and we continue to see housing as the primary economic engine for the indefinite future.

Last week, we highlighted strong existing-home sales for June. This week, we highlight strong new-home sales for June. New-home activity is emerging as a positive surprise for the 2016 economy. New-home sales came into their own last month, posting at a higher-than-expected 592,000 units on an annualized rate. In June 2015, new-home sales posted at 472,000 on an annualized rate. Year over year, sales are up 25%.

More impressive, builders were not discounting to move inventory. The median price of a new home jumped 6.2% to $306,700 last month. Existing-home price appreciation has slowed in recent. New-home price appreciation, in contrast, appears to be picking up pace.

The good news is that pending-sales data point to rising sales in coming months. The data show a thin 0.2% rise in June, but the trend remains up. This suggests that existing-home sales, in particular, should post additional gains before summer winds down.  

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.

We’ll Believe it When We See It

No one was surprised.

On Wednesday, Federal Reserve officials again decided to hold the federal funds rate between 0.25% and 0.50%. Thus, they once again delayed an interest-rate hike that most everyone at the beginning of the year thought would have occurred by now.

The vote wasn’t close – nine-to-one to keep rates where they are. That said, the Fed did leave the window open for a rate increase when officials meet again in late September.  In the statement that accompanied the latest decision to maintain the status quo, the Fed noted a “strengthened” labor market and that household spending was “growing strongly.” It’s also worth noting what the Fed didn’t say. There was no mentioned of the UK Brexit vote in the statement.

Many traders parsed the Fed’s words and arrived at a similar conclusion – the window is open. Traders in fed funds rate futures contracts are now betting a 24% chance a rate increase will occur in September. These are the highest odds given since the first quarter of the year. These same traders are giving 50/50 odds that we will see at least one rate increase before the end of December.

It could happen, of course, but we remain skeptical. Traders are a notoriously schizophrenic lot (as are Fed officials). If next week’s employment report for July disappoints, the odds given for a rate increase could be reduced to single digits. If the report goes the other way, so will the odds.

We wouldn’t call the economy a one-trick pony, but let’s be honest, housing has been performing most of the tricks. Seven years after the recession officially ended, normal growth – 3% annual gross domestic product growth – remains elusive. Fed officials have all but thrown in the towel on 3% annualized growth. Without the housing recovery, we can only guess what the annual growth rate would be. Housing is more interest-rate sensitive than many other sectors of the economy. Fed officials will tread carefully on raising interest rates. No one wants to stall the one engine – housing – that’s hitting on all cylinders.

With no meaningful news to report in recent weeks, mortgage rates have drifted higher, though not egregiously so. For most borrowers, a quote around 3.5% on the conventional 30-year loan has been the norm for the past week. After the Fed’s statement on Wednesday, mortgage rates actually drifted a bit lower.

With the Brexit vote digested, the US presidential candidates settled, the lack of anything of importance pending domestically or internationally, we don’t expect to see much movement in lending rates until September (when action in financial markets usually kicks into a higher gear).  In other words, the lending rates we have now are likely the lending rates that will prevail for the next four or five weeks.

Then again, we do have two employment reports between now and Labor Day. These two reports, more than most other scheduled reports, have the potential to move lending rates one way or the other.

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.

Not all rooms are created equal when it comes to lightning. Some spots may only get two minutes of good natural lightning a day, and if that same room doesn’t have any overhead lighting, it can feel like a cave where a Gollum would feel at home.

Don’t fret. You can solve this problem by layering your lights!

“Layering” a room’s lighting basically means setting up three main types of illumination:

1. General

Also known as ambient lighting, this would be overhead lighting for most rooms. In this case, opt for large floor lamps. An especially good replacement for overhead lights are floor lamps that are arced like this one from West Elm.

2. Task

This type of lighting is designed for a specific purpose, such as desk and reading lamps.Note: This can include table lamps, too.

3. Accent

This low-level lighting can range from scone lighting on the walls to candles, and essentially means the tiny details of light that can help create warmth. A single accent light doesn’t do much, but as a whole team spread across the room, accent lights are the difference between cold Gollum cave and luminescent warmth.

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.

WHY DO THIS?

If your home comes with kids, pets or an eco-friendly attitude, the chemicals that come with store-bought cleaning products may make you a little nervous. Good news: by DIYing your household cleaning products, you can break free from those chemical bonds, save money and keep your house squeaky clean! Here are three super-simple, eco-friendly recipes to get you started.

HOW TO:

1. Dish Soap. This is a particularly useful cleaner to make if you have kids – the leading cause of poisonings in the home for children under the age of six is liquid dish soap! All you need is some castile soap (this is any soap made entirely from vegetable oil), mint tea and a few other simple ingredients. For detailed instructions, read: Make Your Own Non-Toxic Dish Soap.

2. Oven cleaner. Wet all surfaces of your oven with a sponge or cloth. Then mix ¾ cup baking soda, ¼ cup salt and ¼ cup water together so they form a paste. Spread throughout the interior of your oven, but avoid vent openings. Let the paste sit overnight, scrape off in the morning and remove all remnants with a wet sponge or cloth.

3. Laundry detergent. This one is nice and simple. Use a cheese grater to grate a bar of laundry soap into a bowl. Add some borax and baking soda, and mix together. Use one tablespoon of the mixture for each load of laundry, and keep the rest in an easy-to-access jar.

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.

Times change, and they frequently change quicker than we think. Black Knight Financial Services drove this point home earlier this week.

We refer specifically to Black Knight and its Mortgage Monitor report. The report shows how dramatically the negative-equity situation has improved in the past five years. As recently as 2011, more than 28% of all borrowers with a mortgage were in negative equity. Today, that percentage is down to 5.6%. This is close to the percentage that prevailed in late 2006.

Black Knight goes on to say, “The first quarter also saw tappable equity grow by $260 billion – a 6% increase in just the first three months of the year. There are now 38 million borrowers who have at least 20% equity in their homes, with an average of $116,000 in tappable equity per borrower.”

This is all good news, of course. It points to a very fluid housing market; one able to maintain stable sales volume and reasonable price appreciation.

Again, times change. We harken back to the post-2008 dark days, when housing prices were trending in one direction – down – with no end in sight.  We kept a positive attitude because we knew the market would eventually clear. Markets always do. A bottom is hit and then the trend reverses.

The moral here is don’t despair during the down times, but don’t take the up times for granted either.

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.

Rates Rise on Strong Employment Numbers

Perhaps we shouldn’t have asked how low rates could go last week. When such a question comes to mind, the answer is usually self-evident. In this case, mortgage rates were unlikely to go lower; they were likely to go higher instead.

We thought they could go higher. The imbroglio over the Brexit vote was already dying down. It wouldn’t take much positive economic news to get things moving, and that includes interest rates.

We received a positive piece of economic news last Friday. The employment numbers for June came in much stronger than anyone expected. Payrolls were up a whopping 287,000 for the month. This was a welcomed turnaround compared to the dismal 38,000 payroll increase in May. Somewhat paradoxically, the unemployment rate also rose, by two-tenths of a percent to 4.9%. This is actually good news. It reflects an increase in labor participation and a decrease in the number of discouraged workers.

Interest rates were given an additional boost when officials at the Bank of England surprised financial markets by holding off cutting interest rates. Analysts expected the BoE to cut rates because of uncertainty and an expected economic slowdown as a result of the Brexit vote. BoE officials said that they would give it another month to assess Brexit’s economic impact.

Financial markets were receptive to the BoE’s actions and outlook. It’s becoming clearer that the Brexit vote will be less damaging to the U.K. economy than initially predicted, hence the delay in cutting interest rates. At the same time, BoE officials said that monetary policy will remain accommodating to financial markets.

Good news generally manifests in higher interest rates. Good news motivates investors to sell haven investments, like U.S. Treasury securities and precious metals, and buy riskier investments, like stocks.  Over the past week, the yield on the 10-year U.S. Treasury note has risen 15 basis points. Stocks are again trading near an all-time high.

Mortgage rates, most notably those on the 30-year fixed-rate loan, also moved decisively higher. This is no surprise. As the yield on the 10-year Treasury note goes, so goes the yield on mortgage-backed securities, and so goes mortgage lending rates.  

For the immediate future, there is no great impending concern to weigh on financial markets. Therefore, we wouldn’t be surprised to see lending rates trend a bit higher.

To be sure, someone is always worried about some possible impending doom somewhere. That’s always the case. But if you were to ask us where mortgage rates will be this time next week, we’d say either flat to slightly higher.  For now, everything looks calm and steady (relatively speaking). Rates rarely move lower when things are calm and steady.

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.

What’ll 80 extra bucks a month get you? Oh let’s see . . . a weekend road trip, an Apple TV, a bottle of really nice champagne, a steak that’ll change your life. And that’s just the tip of the $80 Iceberg of Possibilities.

We’re hoping you can take some of these tips and treatcho’self, because LIFE IS SHORT YOU BEST ENJOY IT.

Here are eight ways you can save $10 a month or more:

Ditch Your Cable

Cable is so last year. If you don’t want to say goodbye to your shows you can always get HBO Go/HBO Now, Showtime or Netflix. It might also behoove you to turn to Youtube, Redbox, books or board games. These are all either free or a one-time purchase opposed to a monthly subscription. Still not sure? Run through this checklist to find out if cord-cutting is right for you.

Dust Off Your Crockpot Again

Crockpot meals are a great way to stop eating out. You can set your meals up at night, cook them during the day, and you won’t be tempted to order food when you get home from work because your home will already be filled with delicious meat smells. You can also use up ingredients that might be one-day too late to sauté (like older spinach).

Use Your Microwave Instead of Your Oven Range

Yeah, yeah, I can already hear you foodies moaning about this tip. But here’s the thing: your microwave uses half the power as your gas range. So if wanna save some cash, go microwave.

Buy a Battery Recharging Station

You can buy 48 batteries for $13, and those’ll last you a long time. Or, you can buy a $13 battery charging station and never buy batteries again. It’ll take a while for you to start seeing the savings, but long term this is an easy way to save some cash.

Install a Shower Timer

Start using a timer when you’re in the shower, and try to keep your sessions under 10 minutes (you can shoot for five if you’re ambitious). This will reduce your monthly water bill.

Cancel Your Home Phone Service

The cost of a LAN line can vary, but it’s usually at least $20 a month. If you can’t just ditch the thing entirely and use your cell phone, try switching to a Magic Jack – a computer plugin that allows unlimited calling within the U.S. and Canada through your Internet. The initial device that connects your phone to your computer is $60. This includes a year of service. After that you will pay $35 a year. In short, you will pay $6 a month your first year and $3 a month every year after that. Still way cheaper than a traditional phone line! Learn more here.

Get a Tree Planted For Free

Many municipality services will provide a free tree planting, if you’re willing to be on a waiting list. Have them plant the tree on the west side of your house and save money on your utility bills – an adult tree on the west side of a home can reduce your AC needs by 30 percent and reduce the energy required for heating by 20-50 percent (trees both shade and insulate).

To find your city’s municipal tree planting program, Google: “Municipal tree planting program [your city]”.

Stop Dry Cleaning So Many of Your Clothes

You’ve probably heard this one before, but dry cleaning is a tough habit to break. While it’s convenient, it ends up costing a lot (industry reports estimate an average of $40 a month per heavy dry-cleaning household). Check out our step-by-step guide on how to start doing your dry cleaning at home so you can start saving!

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.