Lehigh Valley Real Estate Blog, Home Buying & Selling Information

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

Buying a Lehigh Valley Home During the Corona Virus

The Corona Virus has put a Lehigh Valley Home Buyer in a weird situation. (also Home sellers but that's a whole separate topic) 

With the shelter-in-place order, a Lehigh Valley home buyer can still purchase a home but can't go inside to view the interior.

A Home Buyer has to make a decision based on pictures, virtual tours and possibly having the seller Skype them providing an on-line tour of the property. 

Based on this, a buyer CAN actively have their agent do all the paperwork (remotely) to write up an offer. The seller can accept/counter/reject and depending on negotiations the property can go under agreement. The paperwork can all be done on-line with electronic signatures. You can definitely purchase a home contractually without meeting with anyone and breaking the rules (laws?).

But, how do you handle the rest of a typical home purchase during the Corona Virus?

Home Buyer Inspections: A typical purchase involves the buyer having a home inspection or other inspections (water, septic, radon...etc).

Municipal Inspections: Depending on the municipality, there may be a "city" inspection for the sale of a property/home. With a municipal inspection, all issues they find have to be fixed by either the current home owner or in the future by the buyer (there are timelines). 

Mortgage: If the buyer is getting a mortgage an appraisal needs to be done. An appraiser typically goes to the home, goes inside, looks at the complete house and takes measurements and layout details. This allows the appraiser/bank to determine how much a home is worth.

Inspectors and Appraisers aren't allowed to physically go into a home during the shelter-in-place.

With this in mind, an offer can still be written to make the purchase contingent by pushing the dates on closing, inspections, appraisals into the future (maybe the end of May or into June).

Is the Home Seller going to be willing to wait or will they want the Buyer to purchase the home as-is?

Every situation is unique based on what the Home Buyer is willing to accept versus what options the home seller has. Can the Buyer wait? Can the Seller wait?

Visit www.lehighvalleyhomesonline.com for all of your real estate information.

Staging Your Lehigh Valley Home to Sell!

Does Staging Your Lehigh Valley home help to sell it?

100% Yes!

Typically a Lehigh Valley Home Seller has 4 situations (with many varying differences between all 4):

1 - Home is currently occupied and occupants have clutter or home is not being kept up-to-date and clean. Home may need noticeable repairs without even getting to the property inspection part of the purchase.

2 - Home is vacant - There is nothing in any rooms to inspire imagination, nothing to give perspective (will my couch fit here?), may show more signs of needed updates or repairs since nothing catches the buyer's attention. All of the bones are visible.

3 - Home is occupied but very clean, not cluttered, shows well.

4 - Home is vacant but has furniture and other items to show each room in it's best.

A home typically fits into one of the above 4 categories but it is up to the Lehigh Valley Home Seller how much they want to do to make sure the home is in category 3 or 4.

A Home For Sale that is completely staged is the best but typically it is unrealistic to have every room staged.

With that in mind, when Staging Your Lehigh Valley Home you should concentrate on the 4 main rooms in a home that are the most important to a Home Buyer.

• Kitchen
• Family/Living Room
• Master Bedroom
• Bathroom

Lehigh Valley Home Buyers walk into a home and want to feel welcome and can they live comfortably in the home. Do they see themselves cooking in the kitchen and hanging around in the family room or living room. 

The kitchen should have as much counter-space as possible. Remove everything except the necessary essentials. Make sure the appliances are clean. Buyers WILL open the oven door.

Make sure the family room or living room has a cozy lived in look and is free of clutter. You may need to remove that big old chair that you like to use to watch tv.

The Master Bedroom should be clean. Make sure clean or dirty clothes are put away. If small, can any furniture be removed?

For the bathroom remove as many items as possible from the counter, the sink and toilet are clean, and if maintenance is necessary (typically caulking or grout repair) it is done before showings. 

If pets are living in the home make sure there is not an odor. Nothing is worse then walking into a home and smelling a dog or cat odor. Ask someone who doesn't live in the home for their opinion. As home owners we get immune to the smell of our family pet members. I have two cats and a dog and have asked my guests if they notice an odor and I'm not selling my home.

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

Lehigh Valley Homes are Being Sold As-Is - Home Buyer Beware!

The Lehigh Valley has had a very low inventory of homes for sale over the past two years.

The lack of Homes for Sale in the Lehigh Valley has caused the market to get tilted towards the home seller and they may be taking advantage of it.

This is what I am seeing as I show Lehigh Valley homes and look through Lehigh Valley Home Listings.

* Lehigh Valley Home being Sold As-Is

What exactly does this mean? A home purchase can require multiple instances where the buyer gets stopped dead in their tracks by a problem with a house. What type of financing are they going to allow? Is it a cash purchase only? Does only the home buyer have the ability to ignore any issues? (i.e. roof should be replaced in 1-2 years, buyer is okay with that, mortgage company believes roof should be replaced now...before closing).

* Home Buyer WILL BE RESPONSIBLE for any updates/repairs required by the Lehigh Valley Municipality (Certificate of Occupancy, Buyer Notification Inspection...etc).

The PA Agreement of Sale states if a municipal inspection is required the home owner must order it and provide the report to the buyer. The seller will fix or negotiate with the home buyer about repairs. These items are required by the municipality and MUST be Done. One party has to agree to do them and if getting a mortgage it may create a problem. If the report isn't available when you make the offer should you agree to this beforehand? Municipal inspections can involve permit issues and other potential illegal uses of the property.

Lehigh Valley Home Seller will not do any FHA/VA/USDA Mortgage Required Repairs

This one can be a show stopper. If the Lehigh Valley Home Buyer is getting a mortgage an appraisal will need to be done to ensure the home is worth the price. As part of the appraisal, the appraiser will look at the condition of the home. They may be looking for safety issues as well as general condition of the home. If they tag any issues with the property those items must be addressed or the home buyer will not be able to get the mortgage and the closing cannot occur.

As a Lehigh Valley Home Buyer, you should fully do your research on a property with specific conditions that limit your ability to walk away from a property that may need more work than you originally anticipated.

Home Buyer Beware!

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

Lehigh Valley Homes Buyers Still Dealing with Low Inventory of Homes for Sale

For over two years, Lehigh Valley Home Buyers have been suffering from a Low Inventory of Homes for Sale.

Currently (September 8th, 2019), according to the Lehigh Valley MLS, there are 1740 residential homes for sale in Lehigh and Northampton Counties.

A couple of years ago, at any given time, there were 4,000 to 6,000 homes for sale in the valley.

The low home inventory has caused a pent up buyer demand and as a result price increases are occurring.

Home Buyers are making offers on homes that are hard to believe.

When someone purchases a used car they may have a mechanic check it out before completing the purchase.

Lehigh Valley Home Buyers are waiving property inspections in order to win out in a multiple offer situation. A home buyer may spend hundreds of thousands of dollars and not even know if there are any problems with the property. I cannot advise a home buyer to do this!

I had a Home Buyer lose a house because the seller told us they would go forward if we paid $5,000 over the list price, waived all inspections and removed the appraisal contingency from the mortgage. The seller had another offer with these terms. The buyer would be purchasing a house and would not know if there were any problems until they moved in and if the house didn't appraise they would have to make up the difference in "cash". The home buyer would have absolutely NO protections on the purchase of a $185,000 home. What?

Home Buyer Beware!

The low inventory is also affecting investors/contractors looking to flip properties. 

Out of the 1740 homes for sale in Lehigh Valley, 41 are Bank Owned (Foreclosures) and 16 are Short Sales. A far cry from the couple of hundred distressed properties we had a few years ago. Finding the good deal has gotten very hard to find.

For more information about Lehigh Valley Real Estate, visit www.lehighvalleyhomesonline.com