Real Estate Information Archive

Cleaning the kitchen doesn’t have to be a daunting, time-consuming task. The secret to getting it done in 20 minutes is good preparation and a good system. Have all of your supplies handy and then ready, set, clean!

For this speed clean, you’ll need:

• 1 cup baking soda
• soft cloth
• sponge
• 5 lemon slices
• microwave-safe bowl
• old sock
• rubber band
• broom
• 1 cup white vinegar

Minutes 1 – 5: Clean Your Kitchen Sink

Wet the entire surface of your sink with warm water. Sprinkle baking soda onto the surface and rub it in with a soft cloth or sponge until it forms a paste. Then, rinse! Note: If you have a copper or stone sink, follow these special instructions.

Minutes 5 – 7: De-Clutter the Kitchen

If you’re kitchen is uber-cluttered, you won’t get everything in two minutes. But, you’ll be able to make a big dent by clearing out any surface-level trash like old coupons, takeout bags and anything else that’s lying around your countertops.

Minutes 8 – 10: Clean Your Microwave with Lemon

Put 1 cup of water and 5 lemon slices into a microwave-safe bowl. Heat it on high for 3 minutes, and then let the bowl sit for a full 2 minutes (you can go on to the next step while it sits). When you’re done, the microwave will be clean! Carefully remove the bowl of water and wipe down the inside of the microwave with a warm, damp sponge. Curious how this trick works? Check out our full step-by-step.

Minutes 10 – 12: Clean Under the Fridge

Grab a broom, put an old sock around the handle (fasten it in place with a rubber band) and swab the area out. We call this method the “crack attack.”

Minutes 12 – 15: Clean Your Sponges in the Microwave

Now that your microwave is clean, it’s time to kill the bacteria on your sponge. Microwave a wet sponge on the highest setting for two minutes. Carefully remove the sponge and let it cool before use.

Minutes 15 – 16: Disinfect and De-Stink Your Dishwasher

Pour one cup of distilled white vinegar in the bottom of the empty dishwasher and start a complete cycle on the hottest temperature setting. 

Minutes 17 – 20: Wipe Down Counters & Stovetop

And finally, wipe down the stovetop and counters. Wipe away any residual food, dust or suspicious spots with your cleaning product of choice and a paper towel or soft cloth.

And in less time than it takes to watch a Big Bang Theory episode, you have a clean kitchen. Can you get it done in 20 minutes? Time yourself and tell us in the comments!

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.

Is Sub-4% the New Norm?

Nearly everyone believes the Federal Reserve will raise the influential federal funds rates this year. The fed funds rate has been held near zero for the past five years. This rate matters because it influences other lending rates.

With so much chatter about the Fed raising interest rates this year, you would think rates would begin to rise in anticipation of the event. That's hardly been the case. The yield on the 10-year U.S. Treasury note has steady declined over the past year, and was recently quoted below 2%.

As the 10-year note goes, so frequently goes the 30-year fixed-rate mortgage (and other fixed-rate term loans). Sub-4% on the 30-year loan has been the norm in recent months. Bankrate.com's national survey, which tends to be higher than many local quotes, shows the 30-year loan averaged 3.85% this past week. That's the lowest it has been in 20 months.

Though the Fed might want to see rates rise that simply hasn't been the case, at least for longer-term loans. This is extraordinary when you consider the U.S. economy has produced new jobs at a monthly rate of 200,000+ through 2014.

Consumer-price inflation just might keep all rates low through 2015. Falling oil prices have kept inflation risk at bay. Consumer-price inflation remains below 2% in the United States, and will likely remain below 2% through the first half of 2015.

Meanwhile in Europe, deflation, not inflation, is the overarching worry.

The European Central Bank (ECB) recently admitted that inflation will likely spend a large part of 2015 in negative territory. Eurozone inflation, 2% at the beginning of 2013, has drift lower since. Consumer-price inflation was below 1% for all of 2014.

Today, you can find European bonds that actually pay a negative rate of interest. The two-year German bond is quoted at a negative 0.12%. The price on the five-year German bond has risen to drive the yield down to zero.

If the choice is between a negative interest rate, like in Germany, or a nominally positive rate, like in the United States, many investors will choose the latter. This means more foreign money will likely flow into U.S. Treasury notes and bonds. This flow of money, in turn, will raise prices on U.S. notes and bonds and lower their yield.

We do offer a caveat on our outlook: Interest rates are akin to predicting the flight path of a butterfly. It's impossible to know where it is going at all times. But given recent events, we would not be surprised to see mortgage rates flutter at today's lows through the first quarter of 2015.

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.

Nothing exists in a vacuum. All markets are interconnected to some degree.

Last week, we discussed stocks and housing. Which is the preferable asset? The reality is that the two are not mutually exclusive. It's not an “either/or” scenario. What's more, one can influence the other, and frequently does. Stock market losses can lead to decreased housing demand, or to increased housing demand. Housing can have the same impact on stock prices.

We saw falling home prices lead to falling stock prices in 2008. When housing values plummeted, so did stock prices. Through late 2007 to early 2009, the S&P 500 stock market index lost more than half its value. Interestingly, though, when stock values sank after the bursting of the Internet bubble in 2000, home prices, on average, rose.

Stocks have been on a strong run since early 2009. The S&P 500 has nearly tripled in price. This has no doubt produced a “wealth effect” that has helped the housing recovery. When people feel wealthier – as they do when they see the value of their investments rise – they are more willing to spend. This includes spending on housing.

That said, the stock market is on a six-year bull run. That's long as bull runs are concerned. Therefore, we would not be surprised to see a retreat in stock prices in 2015.

If stock prices retreat, could this lead to falling home prices? Or could it lead to rising home prices?

If stock prices were to retreat, we think the latter scenario – continued rising housing prices – is more likely. We say that because homes are much more reasonably priced today compared to 10 years ago. That said, it will be worthwhile to keep an eye on the stock and housing markets in 2015.

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.

Easing Into 2015

We like where home price are headed. That is, they are easing. They have assumed a more steady and sustainable rate of growth.

Recent price data from Black Knight supports our contention. Black Knight follows completed transactions in more than 18,500 U.S. ZIP codes. For October, prices were up 0.1%, on average. Year over year, they were up 4.5%. This is much closer to historical growth rates.

Mortgage lending rates are also easing into 2015. The 30-year fixed-rate loan is still regularly quoted below 4%, which is no surprise. The yield on the benchmark 10-year U.S. Treasury note hovers around 2.2%. This is nearly 100 basis points less than where it was a year ago. The 10-year note is showing no inclination to move higher. Mortgage rates are also showing no inclination to move higher.

Unfortunately, homes sales are easing into 2015 at too languid a pace.

In November, existing homes sales sank 6.1% to 4.93 million units at an annualized rate. The number of units sold on a monthly basis has yet to pick up pace. We are still at the same annualized rate we were at this time last year.

As for new home sales, they too, are easing into 2015. November new home sales were down 1.6% in November, to an annualized rate of 428,000 units. As with existing home sales, the sales pace is on par with where we were a year ago. 

Home sales had been showing some life going into the fourth quarter, but the readings on November have been a disappointment. We were expecting better.

That said, we still like the longer-term outlook on both housing and mortgage financing. Yes, sales are flat, but the continued gains in economic growth and employment will prove salutary. (This is a theme we've pounded on frequently over the past six months.) Gears will eventually mesh and sales will move higher.

Financing available to a wider swath of the population will help. Lending – mortgage and consumer – is heading in the right direction. Lenders are more willing to make loans, and consumers are more willing to take them. That's a sign of growing confidence in the economy.

We were one of the few voices promoting housing and mortgage lending in the dire days of 2009. We were proven correct: Housing indeed recovered.

These aren't dire days by any stretch of the imagination, though sometimes they are frustrating days. The good news is that housing is as poised as it has been in years to lead the economy forward. The funk will be broken.

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.

Actually, Things Aren't All That Loose

Last week, we mentioned that Fannie Mae and Freddie Mac introduced a new program to buy mortgage loans with down payments as low as 3%. For borrowers to qualify for 3% down they'd need a FICO score of at least 620. They'd also have to prove their income, assets and job status, and purchase private mortgage insurance. Of course, this is all within the norm.

Fannie and Freddie's new mortgage program inspired a spurt of head shaking and finger wagging from media outlets : Could low down payments lead to another housing boom and bust? Could another mortgage bubble form?

We don't see booms and busts or bubbles in our future. For one, housing sales and purchase mortgage financing is still muted from a historical perspective. Lending standards are still high, and you can argue still too high. (Fed Chair Yellen stated that she was surprised that the housing recovery has not been more robust and indicated that it is because of tight credit markets.) This is reflected in the dearth of first-time home buyers. The NAR reports that first-time home buyers account for just 33% of all home purchases. That's the lowest level in 27 years.

Given the strength in employment and the economy, there is no reason for lenders not to reach out on the risk curve. There is also no reason for regulators to dissuade lenders from not extending credit to riskier buyers – if intelligently done.

Most of us vividly remember what occurred in 2008 and 2009, so everyone is sensitive to market disconnects. Are lending standards too loose? Not by a long shot. The benefits of easing credit standards far outweigh the risk of another bubble at this point in the recovery.

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.

Sentiment Up, Starts Flat, Rates Fall

Home builders remain upbeat. The National Association of Home Builders Sentiment Index posted at 57 for December. This is a point lower than the 58 reading posted in November, but is still the sixth-consecutive reading above 50. (A posting above 50 indicates more optimism and less pessimism.)

Home builders appear to be viewing the market farther afield. For the here and now, the data are not particularly encouraging. Housing starts posted at 1.028 million units on an annualized rate for November. This is in line with expectations, but the pace of starts is off 7% compared to this time last year.

Strength in starts was found in the volatile multi-family component, which was up 6.7%. Unfortunately, the more-important single-family component was down 5.4%. Looking to the future, housing permits were down 5.2%.

In recent months, housing numbers have oscillated perceptibly. October was relatively good but November was not. When we take a longer-term perspective – over the past six months – we see housing growth that has been flat to moderately positive.

Given where mortgage rates have trended lately, we could see housing activity begin to trend more positively. Rates have been dropping for the past six weeks, and are now down to levels last seen 18 months. Bankrate's survey, which tends to lean toward the high side, showed the 30-year fixed-rate mortgage averaged 3.94% over the past week. Freddie Mac's survey showed the 30-year loan averaged 3.8%.

Moreover, it doesn't appear rates will be heading for higher ground in the near future. In the minutes from the latest meeting of Federal Reserve governors, Chair Janet Yellen indicated that language switch to "patience" from "considerable time" on the federal funds rates does not indicate a change in Fed policy.

In other words, the Fed has no intentions to raise interest rates in the near future. Many market watchers don't think anything will change on the rate front until the second half of 2015. Inflation remains low, and is unlikely to move higher given the drop in energy prices. And despite a strengthening economy, there are still enough lagging sectors to keep rates low.

Our New Year's predictions on home prices, the economy, and job growth have turned out as we expected. As for mortgage rates, we were off base. This time last year we were expecting 5% on the 30-year loan by this time. As things stand now, we see nothing to move rates higher any time soon.

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.

2014 has seen significant improvement in housing. We think there is plenty of room for housing to move higher when the market is viewed from a historical perspective.

Private real estate investment, for one, is still at levels that existed a decade ago. The same is true of household real estate value as a percent of GDP and mortgage debt as percent of GDP. The market is running sub-optimally. That means there is still plenty of upside to capture.

It's also worth remembering that we are a growing country. There are more people than a decade ago. Our population increases year over year. Millenials in particular are a fertile source of pent-up housing demand. Contrary to many accounts , young people still want to buy a home. With the job outlook continually improving, many more of them will.

What's more, a rising tide will lift all ships. We expect to see more activity in all segments of the market. We expect not only to see more people enter the market, but we expect to see more buying and selling within the different price segments.

In short, we look forward to 2015, and we would not be surprised if it turns out to be one of the best years for sales and lending that we've seen in over a decade.

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.

The Strong Get Stronger

The jobs keep coming. Better yet, they keep coming at a faster pace.

Job growth was much stronger than nearly everyone expected in November. Payrolls for the month jumped 321,000 . At the same time, job numbers for October and September were revised up by 44,000. More of us are not only working, but we are earning more doing so. Average hourly earnings spiked 0.4% in November after edging up 0.1% in October.

At the beginning of the year, we said 200,000-or-more monthly job growth was key to a sustained recover. Job growth for the year has exceeded our expectations. All but one month reported over 200,000 in new jobs, while two months posted over 300,000 new jobs.

Job growth and economic growth go hand-in-hand. On the latter, many economists have ratcheted up their gross domestic product (GDP) growth expectations.

The U.S. Commerce Department believes final GDP growth will post at 4.6% at an annual rate for the third quarter, up from 3.6%. The economists at JPMorgan Chase see GDP growth posting at 4.4%, up from 4.3%. Barclays upped its final estimate to 4.2% from 4.1%. Annualized GDP growth above 4% is considered strong.

The growth we're seeing in the waning months of 2014 certainly gives us reason to anticipate 2015. Indeed, we expect 2015 to be a breakout year for housing. In addition to continued economic growth, home prices will continue to rise, though at a rate that will likely revert to historical norms. This is good news because it means market expectations will be better calibrated with market reality.

When it comes to lending reality, we're seeing a sustained pick up in purchase-mortgage activity. Last week, the Mortgage Bankers Association's weekly survey showed purchase applications were up again. Over the past two months, purchase applications have trended generally higher.

We expect purchase activity to continue to trend positively. With growth comes more willingness to lend. Lenders and regulations naturally become more willing to reach further out on the risk curve, thus creating a larger pool of potential buyers. (To wit: Fannie Mae and Freddie Mac recently introduced new programs that allow borrowers to put only 3% down for a mortgage.)

This market is extraordinary in that we have strong economic growth coupled with low interest rates. Despite last week's strong jobs report, mortgage rates have actually drifted lower. The 30-year fixed-rate mortgage is still regularly quoted below 4%.

With that said, we shouldn't expect mortgage rates to remain at these levels if growth continues to steam ahead at the current rate. One day the Federal Reserve will move to lift interest rates. Growth sustained at the current rate means that day will come sooner than later.

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.

The Big View

The holidays are a nice respite. Things slow down a bit, which allows us to stand back and take in the big picture.

We like what we see, because the big picture includes steady improvement in housing. As we reported last week, housing sales are trending higher. In addition, more sales are being financed with a mortgage. That we are seeing more purchase applications is a sign of more owner-occupied buyers. These buyers have always been the key drivers of the housing market.

Recent trends in home prices point to more buyer interest and more inventory from which to choice.

On the pricing front, S&P/Case-Shiller's closely followed 20-city price index rose 0.3% month over month for September. Year over year, the index is up 4.9%. This is the slowest pace of year-over-year price growth since October 2012. This is actually good news because we are seeing the pace of price appreciation return to historical norms, and historical norms are sustainable norms.

That said, price appreciation is still found in most local markets. Of the 20 markets in Case-Shiller's index, 18 showed price gains for the month.

We expect home prices to continue to appreciate in most markets Case-Shiller follows. We say that because we remain confident in the economic outlook. Fortunately, many consumers apparently share our perspective.

Consumer confidence , overall, remains encouraging. Though down slightly in November, confidence has been on the rise through most of 2014. Better yet, consumers remain upbeat on the outlook for job creation. The latest data from the Conference Board show more people view the job market favorably. This, in turn, points to another favorable employment report next week. (Look for another month of 200,000-or-more new jobs for November.)

The positive data on jobs, housing, and mortgage lending over the past six months gives us even more reason to be thankful this time of year. The good news is that we don't expect this sense of gratitude to abate any time soon.

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 suspect one day they will, but we doubt that day is imminent.

We've done an about-face on interest rates compared to our outlook at the beginning of the year. Back in January, we thought the 30-year fixed-rate mortgage would be approaching 5% by now. That hasn't been the case. Today, it appears 5% lies somewhere on the distant horizon.

We say that because the Federal Reserve has affirmed that it has no intention of raising the federal funds rate (the important rate banks lend short-term to each other). What's more, the Fed continues to plow money from maturing Treasury and mortgage-backed securities into new issues. Though quantitative easing (QE) officially ended last month, the Fed continues to support the mortgage market. We are still looking at a very accommodating low-rate monetary environment.

At the same time, consumer-price inflation remains muted. This means the Fed has the leeway to hold interest rates low. (The Fed had offered a 6.5% unemployment rate and 2% annual inflation as guideposts before raising rates. The Fed has certainly disregarded the former, with the unemployment rate now below 6%.)

Maybe interest rates will rise when GDP growth hits 6% annually and the unemployment rate hits 4%, as it did 15 year ago. If that drives the rate on the 30-year loan up to 6%, so be it. We'll take that trade-off any 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.