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Pocono Real Estate News

Read news stories and information about the Pocono Real Estate market, Pocono Vacation Rentals and local happenings.



Pocono Resorts Realty the areas leader in Sales and Rentals of Vacation and Investment properties is expanding its business with the opening of the Rte. 903 Albrightsville office.
Robert P. Ludgate, President/CEO of Pocono Resorts Realty says that the expansion into the Albrightsville area will better serve sellers and buyers in the Towamensing Trails, Holiday Pocono, Indian Mountain Lakes, Bear Creek Lakes and all of the surrounding communities in the area.

Pocono Resorts Realty has been selling and renting vacation and investment properties through out the Pocono’s since 1984, and has been the leader in the industry with the most advanced website and software available. When many local agencies were only concentrating on sales, Pocono Resorts Realty focused on all aspects of the secondary market, allowing its customers and clients that purchased their homes from another agency the opportunity to turn that purchase into an investment.

Our agents are the most experienced in finding the perfect home for vacation /holiday tenants. The vast inventory of quality vacation homes in many communities through out the Pocono’s allows our tenants to choose the perfect home to suit their needs.

For our Owners/Landlords, we offer the finest in rental management. We have cleaning and maintenance companies and contractors to accomplish every task needed to keep the rental property up to date. We have linen services available to tenants that don’t wish to bring their own linens, and multiple check-in areas, convenient to their rental homes. The keys are not merely left at a drop station for tenants to pick up; but rather our experienced rental agents are here to answer questions in person at check-in.

With more than 25 years of service in the sales and rentals of vacation and investment properties our agents can provide the expert help and assistance to clients wishing to purchase a vacation or investment home. Now is not the time to gamble with an agency that is either just starting a rental department, or does vacation rentals as a hobby. Trust your investment to Pocono Resorts Realty the area renowned leader in the sales and rentals of vacation and investment properties.


Another Professional Joins Pocono Resorts Realty

Ellyn V. McGinnis, Broker/Owner of Town & Country Homes, LLC has joined Pocono Resorts Realty as an Associate Broker, Ellyn and her husband Steve reside in Lake Harmony. Ellyn brings with her over 23 years of expreience as a Broker/Owner in the Bucks and Montgomery County area.

Ellyn experience includes listing, selling and land development, and new construction where most recently she assisted C&M Home Builders in the sale of over 500 homes in the Blue Mountain Lake Estates.


Rates on 30-year mortgages set new record low

Average rates on 30-year mortgages drop to 4.71 percent, setting new all-time low

The average interest rate for a 30-year mortgage dropped to a record low of 4.71 percent this week, pushed down by an aggressive government campaign to reduce borrowing costs.

READ MORE...


Rates on 30-year mortgages sink, match record low

Average rates for 30-year fixed mortgages fell this week, matching a record low set last spring and more than a full percentage point below what they were a year ago, Freddie Mac said Wednesday.

Rates for 30-year mortgages averaged 4.78 percent this week, down from 4.83 percent last week and equaling the record low reached the week of

READ MORE...


October sales gains lift hopes for housing market

First-time buyers seized on a tax credit, combined with low mortgage rates and falling prices, to boost home sales in October to their highest level in 2 1/2 years.

Home sales are now nearly 37 percent above their bottom in January, though still 16 percent below their peak in 2005. At the current sales pace, there's a modest seven-month supply for sale. Bidding wars are occurring in...

READ MORE...


News Flash!

Pocono Resorts Realty Rental Department announces that they now have Linen Service available anyone interested should contact their Rental Agent for details


News Flash!

Robert P. Ludgate, President/CEO of Pocono Resorts Realty announces that the company will be opening an office on Route 903 in Albrightsville. Ludgate says that opening this office in the Twin Builders Building allows Pocono Resorts Realty to better serve the people living in the Towamensing Trails, Holiday Pocono, Indian Mountain Lakes, Bear Creek Lakes, Penn Forest Streams and surrounding areas and communities in the Albrightsville, Carbon and Monroe Counties. The Rte 903 Office will be a full service office offering the following services, Sales, Rentals and New Construction.

Ludgate is please to be able to offer Lot/Home Packages, with quality Homes built by one of areas finest Builders, Twin Builders has been in business for more than 20 years with many styles in every price range.

Pocono Resorts Realty has offices on Rte 940, Lake Harmony, at Big Boulder Ski Area, at Jack Frost Ski Area, and the new office on Rte 903 which will be opening soon.


Another Professional joins Pocono Resorts Realty, Robert P. Ludgate, President/CEO is pleased to announce that Christine Byrd of Bear Creek Lakes, in Carbon County has joined the 940 offices of Pocono Resorts Realty.


Mortgage rates remain below 5 percent

The average rate on a 30-year fixed mortgage was 4.87 percent, down from 4.94 percent last week, Freddie Mac said. The last time rates for 30-year home loans were lower was the week ending May 21, when they averaged 4.82 percent.

This week's average rate for 30-year mortgages remained above the record low of 4.78 percent established in the spring. Last year at this time, the 30-year fixed-rate mortgage

READ MORE...


Mortgage applications surge to 4-month high

U.S. mortgage applications surged last week to their highest since mid-May as consumers sought to take advantage of the lowest interest rates in months, data from an industry group showed on Wednesday.

The Mortgage Bankers Association said rates on 30-year fixed-rate mortgages, the most widely used loan, were below 5 percent for a third straight week, reaching a four-month low. Demand for

READ MORE...


U.S. pending home sales jump 6.4 percent in August: NAR

Pending sales of existing U.S. homes rose sharply in August, for a seventh consecutive month of gains, reaching the highest since March 2007, data from a real estate trade group showed on Thursday.

The National Association of Realtors Pending Home Sales Index, based on contracts signed, was up 6.4 percent to 103.8, the longest consecutive month-on-month gain

READ MORE...


U.S. pending home sales jump 6.4 percent in August

NEW YORK (Reuters) - Pending sales of existing U.S. homes rose sharply in August, for a seventh consecutive month of gains, reaching the highest since March 2007, data from a real estate trade group showed on Thursday.

The National Association of Realtors Pending Home Sales Index, based on contracts signed, was up 6.4 percent to 103.8, the longest consecutive month-on-month gain in the history of the series, which began in...

READ MORE...


Pocono Resorts Realty announces that it's web site, www.prr1.com now has video of many of the communities in the Pocono's. Robert P. Ludgate, President/CEO says by adding video tours to our web site both buyers and renters can view all of the amenities of the communities prior to starting their search for a home to purchase or rent. Simply by clicking on the "Community Tour" button you will be taken on a virtual tour of many of the Pocono's finest communities, Ludgate says that we are adding new communities weekly.


Two more professionals join Pocono Resorts Realty, Robert P. Ludgate, President/CEO is pleased to announce that Lorraine G. Amato of Lake Harmony and Mary DiGioia Bogin of Effort have joined the 940 Offices of Pocono Resorts Realty. Lorraine Amato is a newly licensed Sales Associate and Mary Bogin was formerly with Weichert, Realtors Acclaim


Pocono Resorts Realty is please to announce the opening of our new branch office at Jack Frost Ski Area. Robert P. Ludgate, President/CEO says by opening this branch office at the ski area allows us to better market the homes and condos in Snow Ridge Village Community for Sales and Rentals. Pocono Resorts Realty now has offices in Big Boulder Ski Area, Jack Frost Ski Area and it's main office of Rte. 940.


Pace of U.S. existing home sales fastest in 2 years

Sales of previously owned U.S. homes jumped 7.2 percent in July to mark the fastest pace in nearly two years, a survey showed on Friday, in a strong sign that housing is pulling out of a three-year slump.

Sales in July rose for the fourth straight month to hit an annual rate of 5.24 million units, the highest since August 2007, the National Association of Realtors said...

READ MORE...


Existing Home Sales Up for Fourth Straight Month in July

Existing home sales rose 7.2% in July as buyers took advantage of historically low prices as first-time buyers took advantage of a tax credit, the National Association of Realtors said on Friday.

The annual rate was 5.24 million units, versus an estimate of 5 million and up from 4.89 million units in...

READ MORE...


Pending home sales surge in April

Make it three for three for pending home sales. Sales of pending homes -- sales contracts people have signed for existing homes -- unexpectedly surged 6.7 percent in April to a 4.68-million-unit annual pace, the National Association of Realtors announced Tuesday.

The pending home sales index has risen 3.2 percent since April 2008, with the NAR's pending home sales index now at 90.3. Economists...

READ MORE...


Pending home sales rise 6.7 percent in April

Pending US home sales rise more than expected in April, biggest monthly jump in nearly 8 years

The number of U.S. homebuyers who agreed to buy a previously occupied home took the largest monthly jump in nearly eight years in April, but there are still plenty of danger signs for the U.S. housing market.

Home sales appear likely to head upward this summer, potentially to levels not seen since the stock market collapsed last autumn, but prices are expected to keep falling well into next year. Layoffs, which are causing foreclosures to soar, coupled with rising mortgage rates could dampen any real estate...

READ MORE...


5 New Agents at Pocono Resorts Realty

Pocono Resorts Realty is please to announce that five agents have joined the Pocono Resorts Realty team, all five agents were formally with Jack Frost/ Big Boulder Real Estate, the agents are Teresa A. Benz, Associate Broker, Richard P. Shiner, Anthony Pace, Cosma S. Cunningham, Jacqueline McDonnell Albrecht.

Robert P. Ludgate, President/CEO of Pocono Resorts Realty is please to have all five agents join the company and bring many years of selling Vacation and Investment properties in the Lake Harmony area.



News Alert

Lake Harmony Real Estate Companies Merge

Robert P. Ludgate, President/CEO of Pocono Resorts Realty announced the merger of Pocono Resorts Realty and Jack Frost/ Big Boulder Real Estate. The merged companies will retain the name of Pocono Resorts Realty, a name well known for over 25 years in the Pocono’s for Sales and Rentals of vacation and investment properties. The merger of these two powerhouse companies will create the largest independent Real Estate Company in Carbon County.

Pocono Resorts Realty will also be marketing the new construction projects at Boulder Lake Village Condominiums on Big Boulder Lake, Laurelwoods II Single Family Homes, and Laurelwoods II Cedar Duplex Townhomes. All three new construction projects are located at Big Boulder Lake and Ski Area, Kidder Township, Carbon County, Pennsylvania with two model homes available and one more model coming online in the near future

Ludgate says that Pocono Resorts Realty will also be opening an office on Big Boulder Drive and at Jack Frost Mountain Summit Lodge in the near future, and operating inside both Jack Frost Mountain and Big Boulder Ski Area Lodges. Information regarding the new projects can be viewed on our website: www.prr1.com or call us at 800-444-3721



U.S. mortgage rates nudge closer to record low

U.S. mortgage rates fell in the latest week, nudging closer to a recent record low, helped by government efforts to bring rates down to levels that will spur demand and help the hard-hit housing market begin to recover.

Interest rates on U.S. 30-year fixed-rate mortgages fell to 4.80 percent for the week ending April 23, down from the previous week's 4.82 percent, according to a survey released on Thursday by... READ MORE...


Mortgage rates sink again in most recent week

Home mortgage rates continued to march lower, according to two separate reports released on Thursday.

The average 30-year fixed mortgage rate sank to 5.13%, down from 5.19% the week prior, according to Bankrate.com's weekly national ... READ MORE...


Pending home sales up in sign of life for housing

Tentative signs of life are appearing in the long-battered U.S. housing market.

Thanks to historically low mortgage rates and deeply discounted prices, homes in much of the country are now the most affordable in decades. First-time homebuyers are now able to take advantage of a new $8,000 tax credit that runs until ... READ MORE...


Mortgage rates drop to record low

Rates on 30-year mortgages fell this week to the lowest level on record after the Federal Reserve launched a new effort to assist the staggering U.S. housing market.

Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dropped to 4.85 percent this week, from 4.98 percent last week. It was the lowest in the history of Freddie Mac's survey, which dates back to 1971 and... READ MORE...


Home prices post 6.3 pct annual decline in January

A government report says U.S. home prices fell 6.3 percent in January from the same month last year.

The Federal Housing Finance Agency says prices, on a seasonally adjusted basis, rose 1.7 percent from December to January.

Changes in the geographic mix of sales explained the unexpected monthly increase. Home sales included in January's data were... READ MORE...


February home sales rise as prices sink

One month does not a recovery make. But a surprising leap in existing home sales in February was a welcome if tentative sign of hope that the real estate market may be stabilizing.

While sales of existing homes remain at lows not seen in more than a decade, economists were encouraged by the news, saying it reflected buyers who were taking advantage of deep discounts on foreclosures and other distressed properties. That's essential if home prices are to find their long-awaited... READ MORE...


Mortgage rates sink to new record low

Rates on 30-year mortgages plunged to a record low Thursday after the Federal Reserve launched a new effort to prop up the flailing housing market.

The national average rate on 30-year, fixed mortgages was 4.94 percent on Thursday, according to financial publisher HSH Associates, down nearly a quarter point from a day earlier. That's the lowest on HSH's records, which... READ MORE...


Home mortgages soared last week.

Applications for U.S. home mortgages soared last week, nearing the levels last seen as rates dropped in early January, the Mortgage Bankers Association said on Wednesday. The 30-year rate as measured by the MBA fell to 4.99 percent in the week ending February 13.

Mortgage rates averaged the lowest in the northeastern U.S., at 4.92 percent, according to Freddie Mac's survey. Rates averaged the highest in the southwest, at 5.14 percent, it said.

All rates in the survey are based on up-front payments of about 0.7 percentage point of loan principal to the lenders.


Now is the time to BUY

As home prices continue to moderate, and interest rates hit historic lows, homeownership becomes increasingly accessible to more people, and more affordable to others.

An article in a recent edition of the New York Times gave many reasons for why this might be the "golden age" for buying a home. But above all, author Ron Leiber stressed that, "unfortunately, we do not know when this "golden age" will begin, because we will be able to identify a bottom to the housing market only with the benefit of hindsight."

Robert P. Ludgate, President/CEO of Pocono Resorts Realty says, "If you wait for the bottom of the market, prices will have already started going up." Ludgate advises his clients not to wait, and has been pointing out lately the factors in the market are creating a wonderful opportunity to buy now.

First time homebuyers are in a particularly advantageous position, because they have nothing to sell. Combine the low interest rates and reasonable prices with tax credit the U.S. Government is offering as an incentive to First Time Homebuyers, and the deals look even sweeter.

Part of the government’s $300 Billion Dollar Housing and Economic Recovery Act of 2008 includes a $7,500. tax credit for any person who purchases a first home before July1, 2009. The definition of a first time buyer is someone who hasn’t owned a home in the last 3 years.

One worry among buyers is the continuing moderation of prices, but most people buying a home should look at it as a long-term investment. A recent survey from the National Association of Realtors (NAR) backs that statement up. The survey found typical first time homebuyers plan to stay in their home up to 10 years, up from seven years, in a similar survey one year ago.

Ludgate also points out that the vacation and investment home buyers are in a partially advantageous position, with the vast fluctuations in the stock market, clients are looking for a more stable environment to invest their funds in.

Ludgate’s company, Pocono Resorts Realty, is the area’s leader in sales and rentals of vacation and investment properties, many of the clients purchase a vacation/investment property thru Pocono Resorts Realty and then have the agency manage the property for the client.

Ludgate says that rentals of vacation homes have increased every year, “we have never had a down year in rentals” thus our clients are receiving higher rental income on their vacation home.

All of this points to the timing being right to buy now. “Our sales force is highly trained to handle all of transactions, either for a first time home buyer, sales of vacation or investment properties, short sales or foreclosures”

Call or email us today and get started on the path to homeownership, we can be reached at 800-444-3721, or email us at prr1@ptd.net or view us on line at www.prr1.com


Mortgages: What You Need to Know in 2009

With all the doom and gloom over housing, you might be surprised to know that this is a fantastic time to get a mortgage. Not if you have poor credit, to be sure. But you can get a great deal on a 30-year, fixed-rate, conforming loan these days if you have a solid FICO score, a manageable debt burden, and proof positive of a reliable income.

You have to go back to around 1961 to find a time when 30-year mortgages had rates this low, according... READ MORE...


Leading indicators, home sales rise

A private research group's monthly forecast of economic activity rose unexpectedly in December, mostly because the flood of federal bailouts increased the money supply.

Separately, existing home sales rose 6.5 percent in December to an annual rate of 4.74 million units, as the median home sales price plunged to $175,400, down 15.3 percent from $207,000 a year ago. The decline is the largest year-over-year drop on records going back to... READ MORE...


Nobody’s perfect, but they can still get credit

Rumors and misperceptions abound in today’s mortgage marketplace, and one of the most crippling is the notion that borrowers need perfect credit in order to get a mortgage. This is simply not true. Not at Sovereign Bank.

Sure, the country is facing serious financial problems and credit is tighter than it used to be. But Sovereign still offers a host of affordable mortgage options for qualified borrowers with credit scores as low as 580. Because nobody is perfect - especially in this economy... READ MORE...


Rental Homes at Camelback and Shawnee

Pocono Resorts Realty announces that coming soon they will be offering Vacation Rental Homes at Camelback and Shawnee. Mary Ludgate, Vice President and Rental Coordinator, says that due to increased demand for vacation rental properties in these locations. Pocono Resorts Realty is actively looking for quality vacation rental homes in both locations to add to the more than 700 homes and townhouses Pocono Resorts Realty currently rents. Pocono Resorts Realty has been in the Vacation Rental business continuously since 1984, the Pocono’s largest vacation rental agency.


30-Year Mortgage Under 5 Percent

Weak Economy Keeps Pushing Interest Rates Lower
The benchmark 30-year mortgage fell below 5% for the first time ever in Freddie Mac's weekly rate survey as economic weakness continued to push interest rates lower, the mortgage agency said Thursday.

The national average rate on the 30-year loan fell to 4.96% in the week ending Jan. 15, down from 5.01% a week ago. That is the lowest on record. Freddie Mac began its rate survey in 1971. A year ago the loan averaged 5.69%.

Adjustable-rate loans also fell. The 5-year, Treasury-indexed hybrid mortgage averaged ... READ MORE...



Pocono Resorts Realty celebrates its 25th year in business.

Robert P. Ludgate, President/CEO announces that Pocono Resorts Realty celebrates its 25th year in business. Pocono Resorts Realty of Lake Harmony has been the leader in Sales and Rentals of Vacation and Investment properties since 1984. Ludgate would like to thank his agents and loyal clients for the continued business.



Hope you haven’t forgotten about US!!



**30 yr Fixed @ 4.99% 0 points**
***95% First Time Homebuyer @ 4.75%***
****FHA 30 yr FX 5.5%****


Call Me For More Details
ROSS CRAWFORD

Office 215-345-8438
610-349-2546 Cell


as of 12/17/2008


Rates Could Be as Low as 4.5% for Newly Issued Loans

The Treasury Department is considering a plan to revitalize the U.S. housing market by reducing mortgage rates for new home loans, according to people familiar with the matter.

The plan, which is in the development stages, would use mortgage giants Fannie Mae and Freddie Mac to bring loan rates down as low as 4.5%, a full percentage point lower than the prevailing rates for 30-year fixed ... READ MORE...


Mortgage applications post largest gain ever

Mortgage applications surged by the largest amount on record last week as a new Federal Reserve program pushed interest rates down to their lowest level in more than 3 years, data from an industry group showed on Wednesday.

The U.S. housing market is suffering the worst downturn since the Great Depression as a huge supply of unsold homes, tighter lending standards and record foreclosures push down home prices.

But, the latest weekly data from the Mortgage Bankers Association showed potential borrowers were lured by enticing mortgage rates, which dropped dramatically after the Federal Reserve unveiled a plan last week to buy up to $500 billion of mortgage securities backed by... READ MORE...


Mortgage Rates Tumble on Fed Debt Purchasing Plan

Nov. 26 (Bloomberg) -- U.S. mortgage rates plunged by the most in at least seven years yesterday as a Federal Reserve pledge to buy $600 billion of debt succeeded where seven cuts in the central bank’s benchmark rate had failed.

The average rate for a 30-year fixed... READ MORE...


Pending home sales up 7.4 percent in August

Pending home sales rose 7.4 percent from July to August, an unexpected piece of positive news for the battered U.S. housing market.

The National Association of Realtors said Wednesday its seasonally adjusted index of pending sales for existing homes rose to 93.4 from an upwardly revised July reading of 87. The reading

Home sales are considered... READ MORE...


Sovereign Bank, Great Mortgage Rates

Sovereign Bank, Senior Loan Officer, Ross O. Crawford announced to the agents of Pocono Resorts Realty on Tuesday September 9, 2008 that rates on 30 year fixed, 0 points mortgage have dropped to 5.875%.

Now is a perfect time for buyers with good credit to purchase a home, with interest rates at these low rates, and home prices low, buyers can afford more home, and at Pocono Resorts Realty our inventory of quality vacation/investment homes is excellent.

Sovereign is among the top five Most Admired Companies in mortgage service for 2008. To find out what Sovereign's award-winning mortgage services can do for you contact Ross today to get pre-approved, 1-215-345-8438 View Website


What rescue means for mortgage rates

Sunday's federal takeover of Fannie Mae and Freddie Mac will likely translate into lower mortgage rates and greater availability of credit, experts said. Rates could drop by 1 percentage point from the stubbornly-high 6.39% for a 30-year fixed... READ MORE...


Government takes on role in mortgage market

WASHINGTON (AP) -- Uncle Sam has just become the 800 pound gorilla in the U.S. mortgage market. The Bush administration is seizing troubled mortgage giants Fannie Mae and Freddie Mac in a bid to help reverse a prolonged housing and credit crisis.... READ MORE...


How to find good investment property

The idea of owning rental real estate seems to be gaining popularity as investors tire of the swoops and swoons of the stock market. As I pointed out in a separate column, not everyone has what it takes to be a landlord. But those who do may find rentals to be a good way to build wealth.

Once you've made the decision to buy rental... READ MORE...


Golf Play & Stay Packages

Pocono Resorts Realty announces the introduction of a new service for golfers looking to stay in the Pocono's and play a variety of local golf courses. Golfers can log on to our website, www.prr1.com and pick a course and choose a home and our Agents will customize a Play and Stay package. Pocono Resorts Realty, the Pocono's Largest Vacation Rental Agency, currently has more than 700 homes, townhouses and condo's to choose from and 5 golf courses, with others golf courses joining the Play and Stay package group shortly.

With the introduction of this new service Pocono Resorts Realty is responding to owners of rental properties that have been seeking a way to increase their occupancy rate. With the large number of golfers coming to the Pocono’s during the spring, summer and fall this makes perfect dollars and sense.


Top 5 Places to Own a Summer home

Looking for a destination for all seasons? The Pocono Mountains offer skiing (winter), horseback riding (spring), sailing (summer), and hiking (fall). (There's even a Fall Foliage Hotline to point you to the most spectacular views and scenic driving routes.) Single-family homes range from $175,000 to $300,000, with lakeside and mountainside properties available... READ MORE...





Pocono Real Estate Office

Toll Free 800-444-3721

P.O. Box 231
Route 940
Lake Harmony, PA 18624
License # RB-044920-C
(570)443-9555
Fax: (570) 443-9544
Email
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