Scranton, PA

According to a recent article in the Scranton Times, home values have dropped in the Scranton Wilkes-Barre real estate market.

Home prices have shown a decline in recent years in the Scranton real estate market. Price drops were not as fast or significant as markets in Las Vegas, Florida, Arizona and some parts of California.

Those areas were hit hard and fast early on as a result of the real estate bubble.

• CoreLogic a real estate data aggregation firm reported that in the month of August home values fell in the Scranton/Wilkes-Barre/Hazelton metro area by 11%.
  
• The report went on to say the Scranton Pa metro area fell more than any other metro area in the state. 11% is a substantial adjustment especially for home owners who purchased their homes prior to the real estate collapse.

Inman and other economic advisers predict we will not see a recovery in the market before 2020.

• Buyers are watching statistics, and are far more educated about market trends than they were 5 or 6 years ago. The term buyers market certainly describes today's Scranton real estate environment.

Read the full article Scranton Pa Real Estate 11% drop.

It appears now that the trends seen in other markets are finally catching up here in Scranton Pa.

Bargain Priced Homes In Scranton Pa.

• Looking to take advantage of great deals now available on the market?

Bank owned properties offer a great selection even if your budget is modest.

Get them before they are gone.

Take a peek at some very reasonably priced homes in Scranton Pa. just

use the link below to see a current list of homes.

BARGAIN PRICED HOMES

Every now and then an American company will do something not for financial gain, but to make a point. We are all Americans - we have all been touched by the tragedy. From the smallest to the largest we are united by our common bond - Love of the United States.

I am so moved by this 9/11 10th Anniversary commemoration by the Budweiser Company that I just had to share it. Please view it and pass it on to your friends and family.

MUST SEE: Very Rare Budweiser 9/11 Commercial

Today the National Association of Realtors circulated a story I saw on the wire yesterday.

It seems that Robo signing of documents around the United States has led to paperwork discrepancies in real estate transactions.

• The current owner of the home may not in fact own it, if the documents filed are robo signed. What happens when they want to sell their home?

• At the same time the banks who hold mortgages on homes in default may not legally be able to foreclose on them because of robo signatures.

We have already heard that banks who acquired mortgages and do not have the original signed note may not be able foreclose without it. There are attorneys who have been savvy to this fact for quite some time. Many homeowners have managed to win in court and challenge the legality of a foreclosure due to the lack of original documentation.

• Now come the robots marching into the arena. I was not aware robo signatures existed except for politicians and celebrities.

It's one more debacle to add to an already fragile real estate market.

You can read the article here: ROBO DOCUMENTS

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Disasters can be created as a result of one incident or a combination of incidents leading to an unfavorable outcome.

• It appears the accumulation of rain from both Irene and Lee has pushed river stages into the danger zone here in Pennsylvania. Officials expect massive flooding similar to what was experienced from Hurricane Agnes in 1972. In Luzerne County the Susquehanna River is expected to crest at or above flood stage later today or tomorrow.

I lived through and experienced the devastation of Agnes when it hit. I can tell you first hand how treacherous the force of water can be. I remember tiny trickles in farm pastures that turned into raging rivers of mass destruction.

• Roads and bridges were washed away like they were toothpick structures. I can still see herds of cows being swept down the Susquehanna struggling and flailing, trying to keep their heads above water. Houses floating past like a child's toy boat. Coffins were uprooted and floated down stream landing who knows where. It was a total nightmare.

Luzerne County where Wilkes-Barre Pa is located has mandatory evacuations under way at this moment. The list of counties in the path of flooding is extensive.

If you have family or friends located in any of these areas communicate with them.

• Tell them to heed the warnings and get out if they are in a potential flood zone. Portions of Interstate 80 and 81 are already closed. Ordinary routes may not be passable at this time.

You can follow the news live on the local channel WNEP NEWS

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