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Pocono Real Estate - Pocono Homes For Sale
Bookmark this guide to Real Estate in the Pocono Mountains. With over 40 years experience our Pocono Homes for Sale professionals will find you the best deals in the local Pocono real estate home buying and selling markets. There are free tools on this web site to help get your next real estate transaction started, whether you're buying, selling, renting or investing. Poconos Home Buying Tips Below you will find details on communities in the Poconos real estate region and information on services to help get you the most for your real estate investment. Remember to check the communities and service pages often, as we are always adding more information including up to date statistics on the Pocono Home for Sale Market.
Pocono Homes for Sale MLS Search
Our Pocono MLS search, enables you to browse local homes for sale and get a sense of the market before you buy or sell. Every home for sale from every real estate broker in the region is listed and updated every day right here. You have access to the latest Poconos MLS listings from every other participating broker in the area so bookmark this site and make it a favorite! Whether you're looking for luxury homes, view homes homes, lakefronts, foreclosures, or fixer uppers you'll find them on this site. You can also have the newest listings of interest sent to you automatically - all listings will include multiple pictures, virtual tour, addresses, prices, bedrooms, bathrooms, year built, property features maps, and more. For investors we also offer by request, a free list of Pocono foreclosures.
Pocono Home Values
Home values in the Pocono Mountains have fallen since 2009 about 25-28% in total. with about 8% of that occurring in the last year. There are pockets of communities throughout the region, specifically the mountain areas and prominent luxury developments in Arrowhead Lakes, Lake Naomi, Timber Trails, Hemlock Farms, Glen brook in Stroudsburg, PA and Buck Hill Falls where prices have not fallen quite as much. In addition, Lakefront homes have weathered the downturn better than most others.
Thinking of Selling Your Home?
If you're thinking of selling your Pocono home because you're ready to downsize, ready to move up to a larger home, transferring out of the area, or you can no longer afford to own your home any longer and you need to sell fast to avoid a short sale or foreclosure, then a home evaluation is necessary to get started. A Poconos Real Estate Agent's free home evaluation include up-to-date detailed comparable sales information (CMA) so you will know what homes are selling for in your neighborhood. This detailed information will be emailed in an easy to read format that you can print and save, and is also available by mail or an agent can visit and drop off the evaluation at your door. Again, there is no cost for the home evaluation service. Ask for it in the request form above or call 570 517 2428 anytime.
Pocono Real Estate News
Its no secret. The Pocono Real Estate Market like the U.S. economy has slowed since the beginning of 2011, with the housing market in decline, high unemployment levels and consumer spending now leveling off. But Federal Reserve Chairman, Ben Bernanke, reports that the pace of contraction may be slowing. He says, "We expect that the recovery will gradually gain momentum and that economic slack will diminish slowly. In particular, businesses are likely to be cautious about hiring, implying that the unemployment rate could remain high for a time even after economic growth resumes later this year." In terms of housing, the Fed forecasts indicate the housing market is in fact stabilizing.
One trend noticed in this last few months (starting in Mid 2011) is that the foreclosure market is now being dominated by investors with cash. Investment buyers (those seeking to buy and then to rent, or those buying to hold, fix and resell later) are now recognizing that the market is at or near bottom. These buyers are now swooping in to pick up some of the really cheap foreclosures some of which when properly priced last only days on the market.
Mortgage Money is Available from Local Pocono Banks
Pocono Banks like East Stroudsburg Savings, Pocono Community Bank and Penn Security Bank are aggressively seeking to lend money to borrowers on mortgages on Poconos Real Estate in the Monroe, Wayne, and Carbon County areas. These institutions are virtually unscathed by the current credit crisis as they tend not to sell their mortgages and work with their own cash on hand. It is unlikely that any of these three banks have issued any sub prime mortgages and they all have lower than the national average foreclosure rates. 03/6/2012 - Credit is loosening up we now have 3% down mortgages again. Call USA Realty to discuss homes that qualify for low down payments 570-517-2428.
The State of Real Estate in the Poconos Mountain of Eastern PA
- Here's what's happening in real estate in the Poconos and in Pennsylvania Homes For Sale Real Estate.
As you can see by the following Pocono Real Estate Sold Market Analysis * There has been a shift in the third Quarter of 2012 vs third Quarter of 2011. Total listings or properties available are down by 6.5%. Days on the market are down by 3 days or 2.2% (bad for buyers, good for sellers). Number of homes sold is UP by 4.8% (bad for buyers, good for sellers). The average price continues to be lower (bad for sellers, good for buyers) by about 5.7% below prices of the same period last year.
Active Listings: About the Same as this period last year
This is good news. There are slightly fewer Poconos properties on the market. This is now a consistent trend. And a trend reversal from 2009-2010 and this is good news. The bad news is that there is still a large supply and unless a home is priced at the lowest competitive price for homes in its price range, there will be a longer than normal marketing time. One of the unique aspects of the Poconos Market is that there are MANY more second and vacation homes in inventory than the national average (Who buys a second home in Pittsburgh, Harrisburg?) Second home owners are typically more patient than the average home seller, are willing to wait to get the best price and can (and do) often rent the home while it is being marketed. The Poconos Real Estate Experts expect this number should be higher than the national average.
YTD 2011 VS YTD 2012
3773 VS 3531
Great news for Sellers - Bad News for Buyers. Fewer properties to choose from means we are headed towards more stable prices. .
Days on the Market : DOWN 11% Still at 149 days but doing better
YTD 2011 VS 2012
138 vs 135
This is great news. Homes are still taking less time to sell than in the past. This now is a trend for the last few quarters. Sellers still must be aggressive with pricing and be willing to accepting reasonable offers even as this gets better.
Number Homes Sold: UP 7%
YTD 2011 VS 2012
1140 VS 1195 up 4.8%
Average Sale Price: -8% below same period last year
YTD 2011 VS 2012
The Best Places to Live in the Poconos - Since everyone has different needs and wants on housing, we've picked different neighborhoods for retirement, vacationing, skiing, commuter family life, the in town lifestyle and more. If you're considering buying a home in the Poconos this is a Must Read.
Best All Around Low Priced Vacation Home Neighborhood - Pocono Farms Community Association (note not Pocono Farms East) This community has homes from the low 100's, paved roads, community water, a small lake, a nice pool and tennis complex, good management, a golf course, low dues, and a sense of community. Check out Pocono Farms Homes for Sale
Best Place to buy an inexpensive home - Pocono Country Place. Homes here start in the $40,000 range. Most need renovation and are on small lots, but it is the neighborhood most likely to appreciate when the market shifts. Check out Pocono Country Place Real Estate
More to come tomorrow.
*Obtained from the Pocono Mountain MLS System Sold Market Analysis on 10/23/2012
Prepared by USA Realty - 39 Years Poconos Real Estate experience. April 2011. The information on this sheet has been made available by the MLS and may not be the listing of the provider. The data relating to real estate for sale on this web site includes listings held by MLS-IDX Participants of the Internet Data Exchange program of the Multiple Listing Service of the Pocono Mountains Association of Realtors. All listing data is the copyrighted property of the aforesaid Association and its MLS-IDX Participants with all rights reserved. It is not Guaranteed to be accurate. USARealty.Net PA Licensed Real Estate Broker RB 066233 718 Milford Road, East Stroudsburg, PA 18301 570-517-2428 All Rights Reserved.