Real Estate Information Archive

First things first: We LUV pets. But, it’s not really a secret that owning one can be expensive. Monthly bags of food, unexpected vet bills, new toys and boarding costs add up quickly – but that’s only part of the price of pet ownership.

It turns out the estimated value of your home can plummet (potentially to the tune of $30,000!) when a potential buyer finds out the home was shared with a pet.

Why? Sometimes, pets stink. And they scratch. And they pee on stuff.

Here are three pet-related issues to watch out for if you want to retain your home’s pre-pet value:

Scratches, Scratches Everywhere

Scratches from pets aren’t limited to hardwood floors – although they should definitely get some attention.  Other commonly scratched spots include doors, windowsills, window screens, wall molding, cabinets, porches … and pretty much anything else your pet can get their claws on.

Even a well-trained pet gets bored, and boredom leads to scratching, which leads to reduced home values. To fight the problem before it starts, make sure your pet gets plenty of exercise and has toys and treats to occupy their time while you’re away. We recommend checking out BarkBox for a constant supply of new, awesome toys.

Or, if your pet really needs some extra supervision, look into a doggie daycare or pet-sitter while you’re away. The upfront cost of daycare (about $25 a day) isn’t exactly cheap, but it can help you recoup serious cash when you’re ready to sell your home. 

Lingering Odors

This is a biggy. An accident here, a litter box there, and your home never smells the same. And one whiff of a bad odor is really difficult to recover from when trying to sell your home.

You know how they say love is blind? Pet smells work like that, too. The issue here is that many homeowners get used to the smells associated with having a live-in pet, so it’s commonly overlooked. Don’t do that! Instead, take the time to deep clean any mess that happens and use these stink-fighting tricks when an appraiser or potential buyer is visiting your home. Tip: Ask an honest friend to rate your home’s stink from 0 – 10. If it’s anything over a 3, you may want to consider hiring a professional to handle the smell.

Ugly Yard = Bad First Impression

Let’s be straightforward: Poop and pee kills grass. Dogs love to dig holes, and to some animals, plants look delicious. All of these issues can make a once well-manicured lawn look messy. When you’re selling your home, curb appeal can make or break a deal, so pay attention to your lawn. Fix issues like dead grass from a favorite pee spot immediately. We’re not saying Lassie shouldn’t enjoy your lawn! Just clean up after her and keep the digging to a minimum.

From important checkups of major systems to repairing your front door, sometimes it can feel like your to-do list is more of a cash drain than anything else. Give your wallet a break and try these free ways to improve and maintain your home.

1. Inspect important areas of your home. Regularly inspecting parts of your home that are prone to damage or infestation is one of the easiest ways to prevent expensive repairs. If it’s been awhile, start with your attic and your basement.

2. Relocate a spare dresser. Is there a dresser in your guest bedroom that’s never been used? Move it into your kitchen or dining room! Spare dressers are perfect for storing things like plates and cookware, plus it’s a great opportunity to freshen up a room.
3. Block drafts. A leaky door might not seem like a big deal, but drafts can consume up to 30 percent of your home’s energy usage. For a quick, no-cost solution, roll up an old bath towel and place it at the base of drafty doors or windows. (For a more permanent fix, reach into your wallet and purchase a $4 tube of caulk.)
    
4. Go minimalist. Nothing costs less than getting rid of stuff. If you’re feeling industrious, you could even try to sell unused items on Ebay or at an old-fashioned garage sale. If you’re not sure where to start, brush up on the minimalist lifestyle with these tips: Save Money and Space: Furniture You Don’t Really Need.
    
5. Clean your dryer ducts. This is an important, free task that a lot of people forget! Dryer lint can ignite if it’s allowed to build up in the exhaust duct. Clean your dryer ducts twice a year to prevent this fire hazard.
    
6. Test for hard water. It’s harmless to drink, but hard water (which contains high levels of minerals like calcium and magnesium) can damage your boiler and clog your pipes. Those issues can be expensive to repair – like, $10,000 expensive – but testing for hard water is free! All you need is a plastic water bottle and a little bit of dish soap.

The Phoenix housing market provides an insightful, if not cautionary, tale.

If you enjoy roller-coaster rides, then Phoenix is your kind of housing market. Over the past 10 years, Phoenix has seen a bubble followed by a bust followed by a strong upswing. According to data from Case-Shiller, Phoenix house prices bottomed in August 2011, traded flat for the remainder of the year, and then increased 23% in 2012 and 15% in 2013.

Now it appears Phoenix has crested and could be headed down again. Overall housing sales dropped 17% year over year in July, according to the Arizona Regional Multiple Listing Service . Investors, who have driven Phoenix's market over the past couple years, appear to be loosing interest: Cash sales dropped to 25% of total sales in July compared to 43% a year ago.

We imagine most people don't like roller-coaster rides in real estate. The whipsawing is much more painful when your wallet is involved. Volatility also tends to repel both buyers and sellers on the margin. Volatility raises uncertainty, and people don't want to feel uncertain when contemplating a big purchase like a house.

Of course, we wish the best for Phoenix. But the key to Phoenix, and every other volatile housing market, is a return to single-digit annual price appreciation and a market driven by mortgage-financed owner-occupiers. Slow and steady always wins the race over the long haul, and always will in housing.

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.

Six in a row, which is the number of months payrolls have increased 200,000-or-more per month.

The latest employment data show 209,000 jobs were created in July. At the same time, the unemployment rate inched up to 6.2% from 6.1%. More jobs and more unemployment? This phenomenon is the result of a higher labor participation rate. As more jobs become available, more people are compelled to enter the labor force.

At the beginning of the year, we mentioned that job creation running at 200,000+ per month was key to sustaining the economy and housing. The good news is the economy is meeting our expectations for job growth. In time, we expect to see a spillover effect: Housing sales, construction, and investment will rise as people become more settled in their new jobs.

Interestingly, strong job growth is holding little sway over interest rates. When job growth picks up, interest rates usually pick up with it. That hasn't been the case. Mortgage rates continue to hold near 2014 lows. Bankrate.com's latest survey has the national average on the 30-year, fixed-rate loan at 4.29%; Freddie Mac's survey has it at 4.14%

To understand why mortgage rates remain low look no further than the yield on the 10-year U.S. Treasury note. Its yield is down to 2.4%. This bellwether security yields 60 fewer basis points than it did at the beginning of the year.

Interest rates remain low because consumer-price inflation remains low. A rush to quality is another factor. Quality interest-paying investments (like bonds and notes) have gained additional support in recent months due to turmoil surrounding the Ukraine and Russia, and, separately, the Middle East. Investors have flocked to haven investments – like the 10-year Treasury note – to wait out the turmoil. Their demand, in turn, has helped keep interest rates in general, and mortgage rates in particular, low.

Low rates are certainly good news for anyone seeking a mortgage these days. The fact that lending standards continue to ease is more good news. A recent survey of lenders by the Federal Reserve shows that lenders have indeed made credit available to more people. Then again, we've known this for some time. The MBA's Mortgage Credit Availability Index (MCAI) has risen substantially over the past nine months, and has trended higher over the past two years.

Expect this important trend to continue because of falling mortgage delinquencies. The delinquency rate has dropped five-consecutive quarters and is at the lowest level since the fourth quarter of 2007, according to the MBA's National Delinquency Survey .

An expanding economy, job growth, low interest rates, and available credit: This is the perfect storm for anyone considering a housing change. We suggest anyone interested in a home to take advantage of today's opportunities before the storm passes – and it will pass one day.

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.

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.