Monroe County, PA Real Estate News

By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
If you’re thinking of buying a home, there really is no time like the present. With today’s low mortgage rates, you have a great opportunity to get more home for your money. The challenge is inventory. Like you, many buyers want to capitalize on these market conditions, and it’s leading to more buyer competition and bidding wars. If you’re having a hard time finding a home to buy, it may be time to talk to your trusted real estate advisor about a newly built home. Early indicators show new-home construction is beginning to ramp up. While new homes alone won’t be able to fix all of the inventory challenges, this does mean you’ll soon have more options as you search for a home. As a buyer, a newly built home may be exactly what you’re looking for – it’s brand new, and with builder customi...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
  The question of whether the real estate market is a bubble ready to pop seems to be dominating a lot of conversations – and everyone has an opinion. Yet, when it comes down to it, the opinions that carry the most weight are the ones based on experience and expertise. Here are four expert opinions from professionals and organizations that have devoted their careers to giving great advice to the housing industry. The Joint Center for Housing Studies in their The State of the Nation’s Housing 2021 report: “… conditions today are quite different than in the early 2000s, particularly in terms of credit availability. The current climb in house prices instead reflects strong demand amid tight supply, helped along by record-low interest rates.” Nathaniel Karp, Chief U.S. Economist at BBVA: “T...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
You may have been told that it’s important to get pre-approved at the beginning of the homebuying process, but what does that really mean, and why is it so important? Especially in today’s market, with rising home prices and high buyer competition, it’s crucial to have a clear understanding of your budget so you stand out to sellers as a serious homebuyer. Being intentional and competitive are musts when buying a home right now. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan. Just as important, being able to present a pre-approval letter shows sellers you’re a qualified buyer, something that can really help you land your dream home in an ultra-competitive market. With limited housing inventory, there are many more...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
In today’s real estate market, low inventory and high demand are driving up home prices. As many as 54% of homes are getting offers over the listing price, based on the latest Realtors Confidence Index from the National Association of Realtors (NAR). Shawn Telford, Chief Appraiser at CoreLogic, elaborates: “The frequency of buyers being willing to pay more than the market data supports is increasing.” While this is great news for today’s sellers, it can be tricky to navigate if the price of your contract doesn’t match up with the appraisal for the house. It’s called an appraisal gap, and it’s happening more in today’s market than the norm. According to recent data from CoreLogic, 19% of homes had their appraised value come in below the contract price in April of this year. That’s more t...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
As we move into the latter half of the year, questions about what’s to come are top of mind for buyers and sellers. Near record-low mortgage rates coupled with rising home price appreciation kicked off a robust housing market in the first half of 2021, but what does the forecast tell us about what’s on the horizon? Mortgage Rates Will Likely Increase, but Remain Low Many experts are projecting a rise in interest rates. The latest Quarterly Forecast from Freddie Mac states: “We forecast that mortgage rates will continue to rise through the end of next year. We estimate the 30-year fixed mortgage rate will average 3.4% in the fourth quarter of 2021, rising to 3.8% in the fourth quarter of 2022.” However, even as mortgage rates rise, the anticipated increase is expected to be modest at mos...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
  Some Highlights Today’s sellers’ market provides unique challenges—and benefits—for buyers. Current low interest rates won’t last forever, and home prices are forecast to rise. If you’re a homebuyer, hang in there. Homeownership improves your quality of life, and the long-term benefits outweigh the short-term challenges. Bottom Line What best fits your real estate goals right now - buy, sell, perhaps both? With years of area knowledge, repeat clients, trusted service and personalized guidance each step of the way, we find the solution(s) customized to your needs - growing family space, single or multi-generational residence, remote workplace, relocation, retirement, vacation or investment. Your Home Sweet Home is waiting.  Contact Kris Collis now, your Trusted Pro in the Poconos for p...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
Selling a house is a time-consuming process – especially if you decide to do it on your own, known as a For Sale By Owner (FSBO). From conducting market research to reviewing legal documents, handling negotiations, and more, it’s an involved and highly detailed process that requires a lot of expertise to navigate effectively. That’s one of the reasons why the percentage of people selling their own house has declined from 19% to 8% (See graph below): To help you understand just how much time and effort it takes to sell on your own, here’s a look at a few of the things you need to think about before putting that “For Sale” sign up in your yard. 1. Making a Good First Impression While it may sound simple, there are a lot of proven best practices to consider when prepping a house for sale. ...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
When it comes to buying a house, you’re looking for the perfect place to call home. The problem is, in today’s market there just aren’t that many homes available to purchase. With inventory hovering near record lows and sky-high buyer demand, a multi-offer scenario is the new normal. Here are five things to keep in mind when you’re ready to make an offer. 1. Know Your Numbers Having a complete understanding of your budget and how much house you can afford is essential. That’s why you should connect with a lender to get pre-approved for a loan early in the homebuying process. Taking this step shows sellers you’re a serious, qualified buyer and can give you a competitive edge in a bidding war. 2. Brace for a Fast Pace Today’s market is dynamic and fast-paced. According to the Realtors Con...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
We’re in the ultimate sellers’ market right now. If you’re a homeowner thinking about selling, you have a huge advantage in today’s housing market. High buyer demand paired with very few houses for sale makes this the optimal time to sell for those who are ready to do so. Whatever the move you want to make looks like, here’s an overview of what’s creating the prime opportunity to sell this summer. High Buyer Demand Demand is strong, and buyers are actively searching for homes to purchase. In the Realtors Confidence Index Survey published monthly by the National Association of Realtors (NAR), buyer traffic is considered “very strong” in almost every state. Homebuyers aren’t just great in number right now – they’re also determined to find their dream home. NAR shows the average home for ...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
The pandemic created a tremendous interest in vacation homes across the country. Throughout the last year, many people purchased second homes as a safe getaway from the challenges of the health crisis. With many professionals working from home and many students taking classes remotely, it made sense to see a migration away from cities and into counties with more vacation destinations. The 2021 Vacation Home Counties Report from the National Association of Realtors (NAR) shows that this increase in vacation home sales continues in 2021. The report examines sales in counties where “vacant seasonal, occasional, or recreational use housing account for at least 20% of the housing stock” and compares that data to the overall residential market. Their findings show: Vacation home sales rose by...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
In a normal market, it’s good to have an experienced guide coaching you through the process of buying or selling a home. That person can advise you on important things like pricing your home correctly or the first steps to take when you’re ready to buy. However, the market we’re in today is far from normal. As a result, an expert isn’t just good to have by your side – an expert is essential. Today’s housing market is full of extremes. Mortgage rates hovering near record-lows are driving high buyer demand. On the other hand, an absence of sellers is creating record-low housing inventory. This imbalance in supply and demand is leading to a skyrocketing rate of bidding wars and more houses selling over their asking price. This is driving home price appreciation and gains in home equity. Th...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
  Some Highlights Longer days and sunny weather mean summer is upon us, and what better conditions than right now to upgrade to the home of your dreams? If your needs have changed, it’s a great time to upgrade – there’s likely high demand for your current house, and today’s low mortgage rates can help you afford your dream home. If you’re ready to upgrade to a home that matches your changing needs, let’s connect today. Bottom Line What best fits your real estate goals right now - buy, sell, perhaps both? With years of area knowledge, repeat clients, trusted service and personalized guidance each step of the way, we find the solution(s) customized to your needs - growing family space, single or multi-generational residence, remote workplace, relocation, retirement, vacation or investment...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
The major challenge in today’s housing market is that there are more buyers looking to purchase than there are homes available to buy. Simply put, supply can’t keep up with demand. A normal market has a 6-month supply of homes for sale. Anything over that indicates it’s a buyers’ market, but an inventory level below that threshold means we’re in a sellers’ market. Today’s inventory level sits far below the norm. According to the Existing Home Sales Report from the National Association of Realtors (NAR): “Total housing inventory at the end of April amounted to 1.16 million units, up 10.5% from March's inventory and down 20.5% from one year ago (1.46 million). Unsold inventory sits at a 2.4-month supply at the current sales pace, slightly up from March's 2.1-month supply and down from the...
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By The Jeff Rickert Team, Poconos - RSPS - The Jeff Rickert Team
(RE/MAX Property Specialists)
Tour This Pocono Home 1442 Arrowhead Dr, Pocono Lake, PA 18347MLS # PM-88788Welcome to Lakeview Lodge! Enter this stunning 5 bedroom, 5 bathroom contemporary with views of Lake Arrowhead. Located in the gated, amenity-filled community of Arrowhead Lake. Home has central A/C, 2 covered decks, and tile floors. The main living area has a stone propane fireplace and sliders to the outside covered deck. Kitchen has granite counter tops, stainless steel appliances, an eating bar and a pantry. There are 2 bedrooms on main level, 2 bedrooms upstairs and one bedroom on the lower level. Lower level family room has a propane fireplace & a wet bar area. The main level features a sun room with sliders to the deck. Outside features a fire pit area, stone driveway, and a 1 car garage. Walking distance...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
Home price appreciation continues to accelerate. Today, prices are driven by the simple concept of supply and demand. Pricing of any item is determined by how many items are available compared to how many people want to buy that item. As a result, the strong year-over-year home price appreciation is simple to explain. The demand for housing is up while the supply of homes for sale hovers at historic lows. Let’s use three maps to show how this theory continues to affect the residential real estate market. Map #1 – State-by-state price appreciation reported by the Federal Housing Finance Agency (FHFA) for the first quarter of 2021 compared to the first quarter of 2020:As the map shows, certain states (colored in red) have appreciated well above the national average of 12.6%. Map #2 – The ...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
Some Highlights June is National Homeownership Month, and it’s a great time to consider the benefits of owning your own home. If you’re thinking of buying a home, it might just help you find the stability, community, and comfort you’ve been searching for over the past year. Let’s connect today to determine if homeownership is the right next step for you. Bottom Line What best fits your real estate goals right now - buy, sell, perhaps both? With years of area knowledge, repeat clients, trusted service and personalized guidance each step of the way, we find the solution(s) customized to your needs - growing family space, single or multi-generational residence, remote workplace, relocation, retirement, vacation or investment. Your Home Sweet Home is waiting.  Contact Kris Collis now, your...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
Are you clamoring for extra rooms or a more functional floorplan in your house? Maybe it’s time to make a move. If you’ll be able to work remotely for the long-term or your overall needs have simply changed, it’s a great time to sell your house and move up. Why? With mortgage rates in their favor and higher-priced home sales powering more moves across the country, sellers in today’s market are finding the space they need (and have always dreamed of) by purchasing a home in the upper end of the housing market. With so few homes available for sale and high demand from today’s homebuyers, sellers are profiting in major ways this season. Bidding wars are gaining traction, driving up the sale price of more and more homes throughout the country. This means sellers are able to leverage extra c...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
This year, Americans are moving for a variety of reasons. The health crisis has truly reshaped our lifestyles and our needs. Spending so much more time in our current homes has driven many people to reconsider what homeownership means and what they find most valuable in their living spaces. According to the 2020 Annual National Movers Study: “For customers who cited COVID-19 as an influence on their move in 2020, the top reasons associated with COVID-19 were concerns for personal and family health and wellbeing (60%); desires to be closer to family (59%); 57% moved due to changes in employment status or work arrangement (including the ability to work remotely); and 53% desired a lifestyle change or improvement of quality of life.” With a new perspective on homeownership, here are some o...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
Our homes are so much more than the houses we live in. For many, they’ve also become our workplaces, schools for our children, and safe harbors in which we’ve weathered the toughest moments of a global pandemic. Today, 65.6% of Americans call their homes their own, a rate that has risen to its highest point in 8 years. As National Homeownership Month kicks off this June, homeowners have every reason to celebrate. A survey by Gallup just ranked real estate as the best investment you can make for the eighth year in a row. However, unlike other investment options, the benefits of owning a home aren’t purely financial. Here are the top ways Americans are winning by owning a home. Non-Financial Benefits: 1. Civic Participation: Owning a home is owning a part of your neighborhood. Homeowners ...
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By Kris Collis, Associate Broker, Professional Results you Expect 570-801-5525
(Smart Way America Realty)
During the Great Recession, just over a decade ago, the financial systems the world depended on started to collapse. It created a panic that drove some large companies out of business (ex. Lehman Brothers) and many more into bankruptcy. The financial crisis that accompanied the current pandemic caused hardship to certain industries and hurt many small businesses. However, it hasn’t rattled the world economy. It seems that a year later, things are slowly getting back to normal for many companies. Why is there a drastic difference between 2008 and now? In a post from RealtyTrac, they explain: “We changed the rules. We told banks they needed more reserves and that they could no longer underwrite toxic mortgages. It turns out that regulation — properly done — can help us navigate financial ...
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