Lehigh Valley Real Estate Blog, Home Buying & Selling Information

Traditions of America 55+ Active Adult in the Lehigh Valley, Allentown, Bethlehem and Easton

Traditions of America Lehigh Valley 55+ and Active Adult

Traditions of America is a popular 55+ Active Adult Home Builder in the Lehigh Valley.

Traditions of America communities are located throughout the Allentown, Bethlehem and Easton areas.

Known for their Active Clubhouses and lifestyles, Traditions of America communities provide the sought after amenities that every 55+ home buyer wants:

• Maintenance of Lawn and Landscaping
• Snow Removal
• Exterior Maintenance of Home
• Use of all Facilities including Clubhouse and Pool

The Clubhouses at Traditions of America Communities include:

• Social Room
• Fitness Center
• Craft Rooms
• Billiard and Card Playing Rooms
• Outdoor Pool

Every TOA  55+ Community has a large clubhouse with additional activities and services, A monthly activities calendar is published in every 55+ community.

Tradtions of America 55+ Communities in the Lehigh Valley Including Allentown, Bethlehem and Easton

Glenmoor - Palmer Township (Easton and Nazareth area)

Highlands of Glenmoor - Palmer Township (Easton and Nazareth area)

Wild Cherry Knoll - Lower Macungie Township (Allentown area)

Willow Green - Northampton and Allen Township (North of Allentown area)

Traditions of America at Bridlepath - Hanover Township (Bethlehem area)

Traditions of America at Hanover - Hanover Township (Bethlehem area)

Traditions of America at Green Pond - Bethlehem Township

Traditions of America at Locust Valley - Upper Saucon Township (Coopersburg area)

Traditions of America at Saucon Valley - Upper Saucon Township (Coopersburg area)

Traditions of America 55+ Active Adult New Construction

Currently, Traditions of America has two communities in the Lehigh Valley offering new construction and your selection of a brand new home built to your specifications.

• Traditions of America at Green Pond
• Traditions of America at Locust Valley
  
  
  

Building a new home involves selecting your home layout and a lot for the home to be built on. Pricing involves the base price for the home, an additional fee for the lot of your choice plus any additional upgrades that will make the home your own. For instance, you may wish to add a sun room, hardwood flooring throughout, finished 2nd floor or a gourmet kitchen...etc.

For more information about any of the above Traditions of America 55+ Communities or any of the 29 55+ communities in the Lehigh Valley contact Joe Finnerty at 484-241-1641.

Buying a Lehigh Valley 55+ home when you have a Home to Sell!

It is typical when purchasing a Lehigh Valley 55+ Home that you own a home somewhere else.

Do you need to Sell your Current Home in order to purchase your new 55+ home in the valley?

In a competitive market, this can be a large negative. The Seller on the Lehigh Valley Home you wish to purchase may prefer an offer that doesn't involve the sale of a home somewhere else.

Some 55+ Home Buyers have the ability to get a mortgage or pull from a retirement account to purchase the home and then sell their current home. They Remove Any Decisions, about buying a new home, based on the sale or status of their current home.

If not, a few other options are available:

Your offer on a Lehigh Valley Home can include  a Sale and Settlement Contingency.

Mr Seller, I wish to buy your home and here is my offer but it includes a contingency for me to list my home for sale and get a buyer that closes on the purchase to provide me the funds to purchase your home. I may need 2-3 months to do this.

Your offer on a home can include a Settlement Contingency.

Mr Seller, I wish to buy your home and here is my offer but it includes a contingency for me to close on my current home (scheduled to close in 35 days) to provide me the funds to purchase your home. I already have a buyer on my current home, the inspections have been done and we are just waiting to close.

If a Lehigh Valley Home Seller has multiple offers they may prefer an offer that is cash or a mortgage rather than the risk involved in a home sale (many moving parts) even if that offer may be higher in price.

For all of your Lehigh Valley Real Estate information, visit www.lehighvalleyhomesonline.com

Waiving Property Inspections when Buying a Home in the Lehigh Valley!

When a Home Buyer makes an offer on a Lehigh Valley Home IT IS common to make the offer Contingent on Property Inspections.

The Pennsylvania Agreement of Sale includes defaults for many inspections but the most commonly requested are:

• Property Inspection - A complete inspection of the home including electric, plumbing, structural, roof and pretty much everything with the home itself. If the home has any detached structures such as a garage or other out-building the home buyer should let the inspector know whether to include every structure on the property.
• WDI Inspection - Wood destroying insect  inspection. Includes termites, powder post beetles, carpenter bees/ants.
• Radon - Are Radon gases entering the home through the basement or slab?
• Water Test - Typically done when the property has a well versus public water but the test can include checking for Ecoli, Lead, Pesticides...etc.
• Septic Inspection - A septic system can run thousands of dollars to replace. Are the tanks and filters working correctly as well as the in-ground system or sand mound?

There are other inspection contingencies but the above are the most common. Some of the others are Deed Restrictions/Zoning, Survey, Lead Based Paint Testing.

The Low Inventory of Homes For Sale in the Lehigh Valley is causing multiple offers. Potentially Highly Qualified Home Buyers are losing homes even though offering more than the List Price.

A common reason for the Buyer not getting the home is: The Seller accepted an offer with no inspection contingencies.

Can you, as a Lehigh Valley Home Buyer, make an offer on a home and Waive all of the Inspections?

A while back someone said to me "You know, any problem with a home can be fixed". 

For most cases, they are probably correct but at what cost? 

I've seen a septic system cost $35,000. Sink hole damage to a basement run $80,000.

As a result, I can't advise waiving inspections in order to purchase a Lehigh Valley Home with or without multiple offers. 

When buying a used car you may take it to your mechanic to check it out. Are you willing to spend potentially hundreds of thousands to purchase a home without a professional looking at it?

Depending on your financial situation are you willing to take the risk?

For all of your Lehigh Valley Real Estate Information visit www.lehighvalleyhomesonline.com.

Lehigh Valley Homes For Sale and Current Inventory

The Lehigh Valley Real Estate Market and Homes for Sale are suffering from a lack of Inventory.

Let's take a look at the current inventory for Lehigh Valley Homes (Lehigh and Northampton Counties):

At the time of this posting (04/18/2021):

Lehigh Valley Residential Homes Currently Available and Listed For Sale (all types, twins, singles...etc): 629 homes for Sale

Lehigh Valley Residential Homes Currently Under Agreement (all types, twins, singles...etc): 1,394 homes

We can delve a little further into the price range of currently available Lehigh Valley Homes for Sale.

• Under $100,000: 32 homes
• $100,000 - $200,000: 149 homes
• $200,000 - $300,000: 132 homes
• $300,000 - $400,000: 95 homes
• $400,000 - $500,000: 104 homes
• $500,000+: 121 homes

This is a major change from back in 2011 and 2012 where the Lehigh Valley had 5,000 to 6,000 Homes For Sale.

The real estate market is causing a pent up demand from Home Buyers and putting negotiation power fully in the hands of the Lehigh Valley Home Seller.

For all of your Lehigh Valley Real Estate information, visit www.lehighvalleyhomesonline.com.

Buying a Home in a Lehigh Valley 55+ or Active Adult Communities

Are you considering Buying a Home in a Lehigh Valley 55+ or Active Adult Community?

The Lehigh Valley has over 25 55+ Communities!

As a result, the definition of 55+ and 55+ Active Adult needs to be looked at.

What exactly, as a Lehigh Valley 55+ Home Buyer, are you looking for?

After working with a lot of 55+ Home Buyers, common concerns and decision making questions are:

- Purchase price, taxes, monthly HOA fees
- Location and proximity to my children and/or grandchildren
- No exterior work; the HOA does everything outside the home (grass, snow, landscaping, roof..etc)
- I want a clubhouse and a pool
- Does PA tax pensions?
- Is there an Active clubhouse with many amenities and monthly activity calendar
- Are pets allowed in 55+? Fence  or Invisible Fence?
- What are the age restrictions to live in the community/home?

Typically, all 55+ Communities have age restrictions on whom can live in the home. Other than that assumptions can't be made. Grass and snow removal MAY NOT be Included! There may not be a  pool or even a  clubhouse.

Give me a call to discuss your options when considering a Lehigh Valley 55+ home!

Call Joe at 484-241-1641 to discuss all of the 55+ communities in the Lehigh Valley.

For all of your Lehigh Valley 55+ Information, visit www.lehighvalley55plus.com

Jacob's Farm and Village at Fox Crossing in Forks Township, Lehigh Valley PA

Jacob's Farm and Village at Fox Crossing are two 55+ communities in the Lehigh Valley, PA located in Forks Township. 

                                            Jacob's Farm                    Village at Fox Crossing

Both of these communities are located in Forks Township; right off of Sullivan Trail near the Weiss Grocery Store at Uhler Road. 

The homes in Jacob's Farm and Village at Fox Crossing are/were all stick built homes, built off-site and then brought in and placed on a foundation.

I get a lot of emails from buyers asking about Jacob's Farm when actually they are asking about Village at Fox Crossing. If you drive into these communities, it will be hard to figure out if a home is in Jacob's Farm or Village at Fox Crossing.

Jacob's Farm - Forks Township PA

Jacob's Farm is located on the south side of the community. It is a completed community so only resales are available for sale (currently none are listed). The typical home costs between $100,000 and $200,000. The homes are leasehold ownership which means the land the home sits on is rented each month. The home owner must sign a yearly lease for the "land". The monthly rental lot/HOA fee is approximately $610.00/month with yearly taxes in the range of $3,000 to $4,000. The community has a clubhouse (included in the HOA) but grass and snow around the home are the complete responsibility of the home owner as well as all exterior maintenance of the home.

Village at Fox Crossing - Forks Township PA

Village at Fox Crossing is a newer community located on the Northern side.  Sale prices typically range from $175,000 to the low $200,000's. Unfortunately, this community is on "Hold" and all New Construction has been stopped. These are stick built homes built offsite and brought in and placed on a slab or foundation. The community has some lots available and even some unfinished homes but at this time NONE of them are available for sale. The community, when construction resumes, will have a clubhouse and includes grass cutting at each home. The monthly fees are approximately $435.00/month.

Village at Fox Crossing does have a completed section so a home may come on the market as a resale.

Real Estate Statistics for Jacob's Farm and Village at Fox Crossing

As of this posting (03/26/2021):

Jacob's Farm

Completed community - only resales

No homes currently available for sale

8 homes sold in 2020

Village at Fox Crossing

No homes currently available for sale

2 homes sold in 2020

All new construction on Hold

Lehigh Valley 55+ Communities

The Lehigh Valley has over 25 55+ communities. I am only aware of 6 that have purchase prices that may be below $250,000. 

Jacob's Farm - leasehold
Village at Fox Crossing - leasehold
Village at Upstream Farms - leasehold
Lockwood Congress - leasehold
Evergreen Village - leasehold
Millbrook Chase - condo

For all of your Lehigh Valley 55+ Communities and Active Adult info visit www.lehighvalley55plus.com.

Lehigh Valley Home Sales and Current Inventory of Real Estate

Happy New Year!

As we go into 2021, I thought it was time to take a look at the inventory of Homes For Sale in the Lehigh Valley.

Unfortunately, before the Corona Virus home sale inventory was already low in the Valley. The virus caused the inventory to go lower even as a pent up demand existed with Lehigh Valley Home Buyers.

Pennsylvania Real Estate never fully shut down during the virus but for a few months a home buyer had to purchase a home without even physically visiting the property. Home Sales did occur during this time.

Once real estate agents were allowed to show homes again, the market took off. The first weekend I had buyers put an offer on a home that had 18 offers on it. The home was only listed for 3 days. 

So, lets take a look at the Lehigh Valley Real Estate market right now.

As of 01/04/2021 Properties for sale in Lehigh Valley (Northampton and Lehigh Counties):

Residential Properties : 601

Under Agreement Properties: 1146

Bank Owned/Foreclosures: 8

Short Sales: 1

Adult/55+ Properties: 45 (mainly new construction)

Detached homes for sale: 394 (out of the 601 available residential properties)

This is what is currently available "For Sale" in both counties (Northampton and Lehigh). 

This is far different from the real estate market over the past decade. At one point, we had over 5,000 available homes for sale in the Lehigh Valley with a few hundred bank foreclosures and short sales.

Lehigh Valley Investment Properties:

Properties Available: 176

Properties - Bank Owned: 0

Properties - Short Sales: 0

The inventory is causing the typical supply and demand curve to kick in and causing Lehigh Valley Home Prices to go up. 

For all of your Lehigh Valley Real Estate needs visit www.lehighvalleyhomesonline.com

Lehigh Valley 55+ Home Buyers and the Covid Virus

Lehigh Valley 55+ Home Buyers are looking to purchase in the Lehigh Valley but are concerned about the Covid Virus. 

Is now the time to move from my current home (listing and selling it)?
Is now the time to look at buying a 55+ Home in the Lehigh Valley?

For everyone, this is a personal decision and a degree in comfort level going forward.

I can't make the decision for you but can explain how things are currently being done to help you make a decision on whether you should wait or start moving forward.

To View a Lehigh Valley 55+ Home For Sale during the Covid Virus:

Before the showing of a home, a COVID questionnaire needs to be signed by the agent and the buyers. The questionnaire asks things like Have you had the Covid Virus; Had contact with anyone with the Covid Virus; Been out of the country??..etc. 

The real estate agent is only allowed to bring two people in the home at one time. 

A ,mask must be worn by everyone.

Some Lehigh Valley Homes may require booties or shoe removal, gloves, and require wiping down of anything touched. 

Scheduling has become a little difficult in order to ensure Home Buyers don't show up at the home at the same time.

Lehigh Valley 55+ New Construction typically requires an Appointment Now versus just walking into a model home.

 

If you are interested in buying a Lehigh Valley 55+ Home give me a call at 484-241-1641

For all of your Lehigh Valley Real Estate information, visit www.lehighvalley55plus.com.

Will Lehigh Valley Home Prices Go Down as a Result of the Corona Virus

 A common question I am asked is Will Lehigh Valley Home Prices Go Down as a result of the Pennsylvania shutdown and the Corona Virus/Pandemic?

For now, I don't believe we will see a DECREASE in home prices in the valley.

Before the Corona Virus, the Lehigh Valley had a lack of inventory for over two years and many home buyers were facing multiple offers on properties that were only on the market a day or two.

Before the virus, I was working with a Grade A home buyer (20% down conventional loan, large deposit). They lost a home they really wanted to 16 offers and then to 12 offers on the next home they really liked. Both homes sold for over $15,000 of what they were listed for. Inspections were waived!

The shelter-in-place has stopped Lehigh Valley Home Buyers from being able to physically view homes but they can still purchase one. How many home buyers have purchased homes in the past two months without actually seeing them in person? Good question.

How many Lehigh Valley Home Sellers held off listing their home? Stranger - Danger! I don't want anyone in my house possibly spreading germs. I'll wait for now! Another unknown.

Ok. So how does this play into pricing. 

When the real estate market opens back up any buyer that was lucky enough to maintain financial stability during this pandemic will probably still be in great shape. There may be some buyers that had to dip into their "buying a home money" and no longer have the amount they need to purchase a home or something may have affected their credit.

So, there may be fewer Lehigh Valley Home Buyers, but there were too many buyers for the low home inventory we had before the virus. 

We will probably see an influx of Lehigh Valley Home Listings from sellers that held off putting their home on the market during the shutdown. 

For at least the first few months after the shutdown is lifted, this may create a better real estate market. Level the playing field a little bit.

If there are less home buyers but more homes for sale we may see a little neutralization in a market that had fully become a sellers market before the pandemic. This probably won't affect home prices but may give the buyer a little more power to not pay $10,000 more for a home and waive the inspections putting all the risk on the home buyer.

For all of your Lehigh Valley Real Estate information, visit www.lehighvalleyhomesonline.com.

Selling a Lehigh Valley Home During the Corona Virus

A Lehigh Valley Home Seller CAN still list and sell their property during the Corona Virus shutdown.

The problem is that the home can't be physically shown and your real estate agent, photographer, inspector and even the Bank's appraiser aren't currently allowed to enter the home. All of these services are typically essential in day-to-day real estate transactions.

For a Home Seller to list a home (during this shelter-in-place from the PA GOVT)  the  home seller must:

- Provide all pictures of the interior of the home - even a professional photographer cannot go into the home
- Since physical showings aren't allowed be willing to Skype a home buyer or provide additional media
- Provide any type of virtual/remote media to provide the home amenities without a physical visit from a buyer

Even if a Lehigh Valley home is vacant it cannot be physically shown.

The Home Buyers I have spoken to in the past few weeks all said they will wait until they can physically view the home.

"We aren't going to purchase a home without actually seeing it in person!"

A Lehigh Valley Home Seller has to make a tough decision. Do they need to sell now or should they wait until the restrictions are lifted?

Buyers ARE purchasing homes without physically going to them. Buying them as-is (since inspections aren't allowed) and taking a potential risk.

Does this benefit a Home Seller? Do liabilities issues come into play with buyers relying only on seller input for the purchase? Is the roof in good shape...etc?

The inspections allow a 3rd party to be involved in the condition of the home. The inspection is relied upon to answer many of these questions and put a wall up between the buyer and the seller. The home inspection protects both the buyer and the seller.

There are a lot of unknowns proceeding in a home purchase at this time. Ultimately, it is left up to the home buyers and sellers on how they wish to proceed.

For all of your Lehigh Valley Real Estate information, visit www.lehighvalleyhomesonline.com