---

I am pleased to announce that Real Estate Shows are here!

The latest data from the National Association of REALTORS reveals that 87% of home buyers used the internet in their home search. Even more interesting, the study found that only 1% of buyers found the home they purchased through a home book or magazine. I say interesting because that seems to be a very popular advertising medium for the typical Pocono real estate agent, and home sellers ask about them a lot. Sure the books are pretty and every McDonald's and grocery store has them on display, but should this be the center piece of your marketing program? I think not.

Knowing all this, and knowing where every piece of business that I do comes from, you may not be surprised to hear that I recommend and use internet advertising extensively and near-exclusively. I am not saying I put your home on my website and wait...oh no, I am talking about a continuous stream of marketing across a vast array of sites and media online. I spend a lot of time online, networking with potential clients and web-savvy agents across the country, and I am continuously trolling for the latest and greatest tools and strategies to get my name and my listings out in front of people. And Real Estate Shows are the newest addition to my internet marketing arsenal.

I love Real Estate Shows because the are easy to use. So easy, in fact, I can have a show up and running in only a few minutes after downloading the photos from my camera. Also, I can make changes very easily and quickly so that your Pocono home is always presented in it's best light and with the most up-to-the-minute information. Check out this example:

Are you sitting down?

It's no secret sales are down. But the bad news for Penn Estates homeowners looking to sell their property anytime soon is that your chances of doing so are at least 55% less this year than they were last year. In analyzing the data I noticed a marked drop in number of sales (yeah, I know - duh) for the same time period last year, as well as a huge increase in the number of sales that are bank-owned, or foreclosure, sales. By my calculations, sales of NON-foreclosure homes, owned by real people like you reading this now, are down a whopping 55%. Ouchie for us Penn Estates peeps (yes, as a homeowner here, I feel the pain too!)

A comparison of sales data from January 1 - November 18 for the years 2007 and 2008:

Furthermore, in looking at historical data that I have been gathering since the year 2000, our average sale price and price per square foot has dropped to levels close to those enjoyed in 2004 and 2005.

There are currently 92 homes in Penn Estates listed for sale, which is a 21 months' supply based on this year's absorption rate. 6 homes are under contract, awaiting settlement.

So what does this mean?

As I wrote back in August, don't sell if you don't have to. If you do have to, listen to your trusted real estate agent about pricing and preparing your home for sale. You will only compromise your eventual selling price by over-pricing and hoping for a miracle. Additionally, you will contribute to the already-unfavorable market conditions we are experiencing by placing your home on the market un-aggressively.

Let it never be said that I don't tell it like it is.

If you are looking to buy, prices & selection are great

You and your Buyer's Agent will have no problem identifying good buys in Penn Estates right now. I suggest buying in the next three months in order to maximize your purchasing power and make the most of ripe market conditions. I anticipate changing conditions in the Spring as government economic stimulus efforts take hold and pent-up demand overcomes market nervousness.

Smart investors know you have to be bold when others are afraid.

This information is provided as an overview of market conditions for those curious about the state of the real estate market in Penn Estates, a gated amenity community in the heart of the Poconos. The nature of real estate markets is ever-changing and reliant on many factors. For this reason I ask that if you are looking for specific market data related to your Penn Estates home, or if you need reliable data to determine if buying a home in Penn Estates makes sense for you, you contact me to discuss it or to make arrangements for a complimentary market analysis. Every home is different and value can only be determined on a case by case basis.

There are currently 2,591 homes (single-family,residential properties) listed for sale, which is a 19 months' supply based on this year's absorption rate. 261 homes are under contract, awaiting settlement.

This information is provided as an overview of market conditions for those curious about the state of the Monroe County, PA real estate market. The nature of real estate markets is ever-changing and reliant on many factors. For this reason I ask that if you are looking for specific market data related to your Pocono home, you contact me to discuss it or to make arrangements for a complimentary market analysis. Every area, neighborhood, street and home are different and value can only be determined on a case by case basis.

For example, this home beat the statistics by selling in 58 days for 96% of the owners' asking price, which is higher than the above stated average sale price. There is some good news :)

Ok, I may be a tad late to the party here, but did you see the August issue of Better Homes and Gardens Magazine? Page 16 of the 'Better By Design' section of the magazine has Arrowhead Lake/Pocono Mountains, Pennsylvania, listed as one of 5 Up and Coming vacation home hot spots. Schweet!!

Arrowhead was listed, along with Gatlinburg, TN, Cody, WY, and others, as a still-affordable, low profile market. This is as opposed to the 'Biggies' like Cape Cod, Lake Tahoe and Chincoteague Island, which were listed as Tried and True and where I don't even want to try to guess what you'd pay for a vacation home. (Kind of like buying a place at the Jersey Shore where prices can seem intimidating. Come to the Poconos, we are within reach, geographically AND financially!)

So, you no longer have to take my word for it. Arrowhead is the place to be. BH & G says so!

For information on homes in Arrowhead Lake and other up-and-coming vacation home areas in the Poconos, please contact me via email [email protected], or by phone 888.794.5589. Or, if you prefer to help yourself for a while yet, search the Pocono Mountains MLS for properties here.

Some of the benefits of this move include:

• A highly recognized brand name with a fresh & attractive contemporary look (see BHGRealEstate.com)
• The convenience of 8 offices in the Greater Pocono Region
• Exposure in up to three area MLS Systems: Pocono Mountains, Pike/Wayne and Lehigh Valley Associations
• The power of a 100+ agent team, promoting the brand and our listings
• Sales and rentals of primary, vacation and investment properties, farms, vacant land, acreage and commercial properties, all for lease or sale
• Full-service Relocation Department
• Property Management through integrated affiliate, NEPA Management Associates
• And more!

Blending Old & New

We have considered this move very carefully and found that BHGREWA was the best fit because of the fact that this company is growing in spite of the challenging real estate market, and has a company culture that encourages innovation and embraces the opportunities that new technologies bring. We feel this is a great move for us and look forward to a mutually beneficial relationship with the Better Homes & Gardens Real Estate Wilkins & Associates family.

Our new office is located at 304 Park Avenue, Stroudsburg, just a few blocks south of our location on Seventh Street. Our phone numbers and email addresses will stay the same. Also, clients will continue to enjoy all of the benefit of our personalized service in addition to all of the exciting new offerings that our new affiliation allows us to provide.

Debbie O'Brien, our Transaction Coordinator / Assistant / Right Arm Extraordinaire will still be fielding calls and keeping Bob and me, and our files, on track. Be sure to say 'Hi' to her when you call in!

Thanks Are In Order

Yarrow Wilkins and the whole BHGREWA family have really made this transition a pleasure and I want to take this opportunity to thank everyone - the staff, the managers, the agents, everyone company-wide - for welcoming us so warmly and helping us through the move. The calls, emails, and the Welcome Breakfast held on Monday morning, all mean a lot to us and make us even more excited to be a part of the team. Thank you all!!

We look forward to continuing to serve our customers and clients with even better services in the coming days, weeks and months, and hope you share our excitement in this beneficial change. As always, we welcome your comments and questions.

THE BOBHAY.COM TEAM
Lisa Sanderson & Bob Hay

P.S. How do you like the new look the Poconos Real Estate Blog is sporting? :)