About Centre County, PA

A friend of mine introduced me to a friend of his last night at his friend's business establishment. We had some pleasant conversation and it was mentioned that I was in real estate. The small business owner then asked if I worked in a particular area since he wanted to open a second business in this area.

Then he described his recent meeting with a realtor whom he stumbled upon during a Sunday open house in the area. Since he was thinking about opening a second business he is considering buying a second home so he was checking out the area. The business man told me that the realtor wouldn't even look him in the eye never mind have a serious conversation with him. It goes without saying that the business man was dressed in jeans, a t-shirt, a baseball cap, and has two degrees from the school of hard knocks. He left his BMW and his alligator shoes at home. Actually, he never bought them because he was working a hundred hours a week and they are not a requirement in this guys business. The realtor with the impressive suit and car couldn't bother to give this guy the time of day but she did offer to help him open a new business in town when he told her what he wanted to do.

Fast forward three weeks later and the agent with the magic mojo hasn't even bothered to call the guy or return his calls. I'm sure she is too important to be bothered with a guy in blue jeans and a pick up truck.

So I would like to thank the arrogant, condescending realtor for her lack of follow-up and professionalism because I'm more than willing to treat this guy with respect and help him open the new business. I won't be disappointed to earn the $20,400 commissions that will be generated by this guy in the next 90 days. I'm really looking forward to the future referral income that I will generate by helping this small business man advance his goals in life.

Maybe I'll even buy a pair of alligator shoes or maybe not.

....And why should you care? Well, you shouldn't really care if you are not selling your house but you should pay attention to the index if you are selling or buying a home in the local market.

Every week on Top Gun Tim's Real Estate show on 970 AM WBLF I discuss this phenomenon (not unique to Centre County) and update the index.

What is the Disgruntled Sellers Disconnect you ask? This is the disparity in list price between those homes that have sold in the past month as compared to those that have decided to beat their dog and Realtor because their home has not sold in the past 50 years (well maybe not 50 years but at least six months) and have fired their Realtor, canceled the listing and changed companies, or simply had it expire after 755 DOM. For the most recent week the disparity in our market was $30,000 and represented a 20% price differential between closed sales and canceled angry expired home sellers.

The interesting thing about the disconnect is how the Realtor always gets the brunt of it, along with the sellers spouse, dog, hamster and goldfish. The funny thing is that after the seller blames the Realtor they immediately change companies and then adjust the price and terms to EXACTLY what you told them they should do for months while they were administering your daily beatings. You gotta be kidding me! I waste my time jumping through hoops with an unrealistic sales price and then they change Realtors and follow my advice.

I tell them what to expect and receive an on-going dose of "SELLERS EXPERTISE." You know how that sounds, I paid X for the property and I'm not selling it for Y. I put two years of my life into the house and $50,000 so I'm not selling it for Y. My neighbors house sold for X so I should get 400% more money because my house is 800% better and even you, Mr. Realtor should know that.

My response is always that the seller can NOT defeat the market and as always I'm correct about it. But the sellers continue to administer the beating until the DISGRUNTLED SELLERS DISCONNECT reaches such a fever pitch that they change Realtors and immediately change the price and terms to what you told them the whole time.

In my experience I would have to say good riddance and pity the next Realtor even though they got the disgruntled seller to list for the real price.

I'm getting good at spotting the disgruntled sellers and have actually refused three listings this year. Oh, yea, I've heard the stories from the unlucky Realtors that have signed the Disgruntled sellers to listing contract and I sit back with a big smile and a lot less stress.

Next up will be a discussion on why buyers should pay attention to the Disgruntled Home Sellers Disconnect.

You can call the Coaches Corner Hot Line at 814-272-9700 to discuss any real estate issue of choice.

I receive numerous questions about the USDA Rural Home Loan program so I would like to answer the most common questions relating to the USDA Rural Home program. I will answer a question every day until all

Question - There are several programs for buyers can you please explain the difference?

Answer - The two programs include the direct home loan program and the guaranteed loan program. The direct loan program is administered by the local USDA office and will lend money directly to the home buyer. The guaranteed loan program is a program that is administered by a local bank in conjunction with USDA. The bank makes the loan to the home buyer and USDA guarantees the loan in the event of default.

To secure a direct loan you need to call the local USDA office at 570-726-3196. Numerous local banks can underwrite the guaranteed loan and you can give me a call for those local banks that participate in the program.

For more information about first time home buyer programs or affordable housing alternatives in Centre County or the State College, Bellefonte, Penns Valley, Bald Eagle or the Philipsburg school districts give me a call or tune into Top Gun Tim's Real Estate Radio show every saturday morning on 970 A.M. WBLF radio. Call the show from 8:00 to 9:00 am on the Coaches Corner hotline at 814-272-9700.

Just East of Penn State University is a large 4/5 bedroom 1 bath home with more than 2,600 sq. ft. of living space and a detached 3 car garage. Situated in Spring Mills, this large home has been completely renovated on the exterior including roof, siding, and new windows. Bring your personal touches to finish the interior and enjoy the over size country kitchen, the large yard, and the short walk to trout fishing along Penns Creek.

This would make a good home for first-time home buyers and will qualify for USDA, PHFA, FHA, and Centre County Grant money for first-time home buyers.

Priced at $122,500, this home will go fast to a buyer that needs the space and the location. MLS #28464.

Well, it's a beautiful day here in Central PA! Blue skies and sunny! High is supposed to be 86 today! Woohoo! I'll be at an open house in OpeQuon Hill from 1:00-3:00. I bet lots of buyers will turn out! And then showing some new buyers one of my listings after the open house! Awesome day! Down market? Huh? Centre County is a great place to be! Sure, we feel the effects. But not like many other areas in the country. That's actually how it got it's nickname Happy Valley! It was given that nickname in the Great Depression because State College didn't get hit that hard in the economic downturn. So, why not check out Happy Valley (State College, Penn State, Central PA or whatever name you want to give it!) as your new home or next investment!

Your State College, PA Real Estate Connection!

~Nyssa Smith