Paul's Blog

For Sale in Palmyra, PA. 5 BR, Cape Cod, Corner Lot

2008-07-15T09:33:30Z

Photo	List #	List Price	Beds	Baths	Fin SqFt Above Grade	Address	County	School District	Lot Size(Dimensions)	Listing Office
	137112	199,500	5	3	1,932	401 W MAPLE STREET PALMYRA, PA 17078	Lebanon	Palmyra Area	60 x 150	RE/MAX Of Lebanon County Phone: (717) 270-8808

Information is deemed to be reliable, but is not guaranteed. Prepared by Paul B Lorenzetti, CRS, SRES, Paul B Lorenzetti, Associate Broker on Tuesday, July 15, 2008 10:26 AM

Paul Lorenzetti, Real Estate Agent Lebanon PA

2008-07-15T09:26:04Z

Paul B Lorenzetti

Paul earned a BS from St. Francis College and an MS from the University of Mississippi. He continued graduate studies at St. John's University and New York University and joined the FBI in 1971. He retired from the FBI in 1997 after 26 years of service.
While pursuing his career goals and education, he worked extensively in the construction trades.  After his retirement from the FBI, he obtained his Real Estate Broker's and Mortgage Broker's licenses in Texas, and was very active in commercial and residential real estate. He set up and managed several successful real estate and mortgage related companies and repeatedly received recognition for high dollar volume. Upon his first moving to Pennsylvania, he worked in the mortgage divisions of two prominent bank/mortgage companies.  Throughout his working life, he has managed many varied programs including building and construction related projects, and multi million dollar real estate and finance transactions. Paul has obtained the following coveted designations:

Certified Residential Specialist CRS
Seniors Real Estate Specialist SRES
Certified New Homes Specialist CNHS                                                                                             Residential Construction Certified RCC

A Real Estate Professional should exhibit honesty, integrity and experience. After dedicating 26 years to the FBI, in the protection our country, and operating several successful real estate and mortgage companies in Texas he chose to affiliate with RE/MAX of Lebanon County as an Associate Broker, specializing in Residential and Commercial Real Estate.

When you are buying or selling property in today's real estate market, it's important to have confidence in your real estate professional. His commitment as your local REALTOR® is to provide you with the specialized real estate service you deserve. Don't you want this kind of experience working for you?

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call or send an e-mail so he can provide you with the stellar service he has demonstrated throughout his career, for all your real estate needs.

Take a minute or so and visit Paul's website ( www.paullorenzetti.com )- please consider it as your online source for local real estate information, and return often for the latest property listing updates.

State of the Real Estate Market

2008-07-15T09:06:20Z

What do you all think the problems with Fannie Mae, etc are going to do to this tenuous market? Add to that the saber rattling in the Middle East and I think we are in for a rough ride for the foreseeable future. Even though Iran cannot really get to us at home as they would like, the closing of the oil pipeline and shipping in the region would have a profound effect on the world energy prices. I had a client call this morning to tell me that he is concerned about investing in properties because of the world tension. My only response to him was that I personally would rather be in invested in real property than equities at a time when the economic situation is in shambles. I am actually thinking of buying a few more rental properties myself. If people will not be able to buy a home, they still need to live somewhere.

What do you think? I am looking for opinions not in depth analysis. What will you say to your clients? Where do you think we are going? It is interesting, one day I am up on the market, the next day I am neutral and then out of the clear blue comes a week of bad news like we have been hearing about. What is next?

Antique Autos

2008-07-03T20:11:03Z

Some of my esteemed collegues have requested that I show all of you my cars. When I am not selling or buying for a client here is what I work on. Enjoy. If any of you have an old car please let me know. My MG and Huckster Truck have both taken first place National AACA awards and the fire engine took best of show, but I must confess it was at a fire department. To view go to http://www.paullorenzetti.com/about.html and let it load.

The Market in Lebanon County PA

2008-07-02T17:48:57Z

I am a Real Estate Broker in Lebanon PA and have been in the business here and in Houston Texas for about 12 years. I have been through good and bad markets but they always seemed to be defined. This one is absolutely nuts. The press has scared just about everyone. The naysayers have caused an enormous amount of confusion.

I don't know about anyone else out there, either in the Real Estate Business or not, but I am finding that I have several buyers for every property I want to show. If this market is so bad, how is it that I am writing competing contracts.

The general public needs to know that in this area, Now, repeat Now is the time to sell. The Buyers are searching for good clean homes. I have one buyer that has written 2 contracts on homes and wound up competing with another buyer or got in the middle of another "Short Sale." Between the Seller and the Bank, we did not know when anything would be done. We finally bailed.

Anyone out there on the fence about selling ought to consider that Mortgage rates are going up, Oil prices are going to cause the price of new homes to esclate, the existing home market for good quality homes is drying up and where does that lead us to.....a Seller's Market. But only if the Sellers List their homes. We need to find out how to get confidence back into the market. I am trying to do that in my own way and following the suggestions of CRS, RE/MAX and even NAR. But we need to re-instill confidence in the Sellers minds.

What is your opinion? Let me know. Comment here.

Newsletter July, 2008

2008-07-02T17:31:19Z

"I like to see a man proud of the place in which he lives. I like to see a man live so that his place will be proud of him."

- Abraham Lincoln

Featured In This Issue

Special Days and Events
Existing-Home Sales Show Modest Gain
Dangers of Overdoing it in the Summer Heat
Cooking Corner

Special Days and Events

July 4 - Independence Day
July 11 - World Population Day
July 20 - Moon Day
July 23 - National Hot Dog Day
July 27 - Cross Atlantic Communication Day
July 30 - Father-in-Law Day

The birth flower for July is the Larkspur. The birth stone for July is the Ruby.

Existing-Home Sales Show Modest Gain

Sales of existing-home sales increased in May with buyers responding to lower home prices, NAR says.

Existing-home sales - including single-family, townhomes, condominiums and co-ops - increased 2.0 percent to a seasonally adjusted annual rate of 4.99 million units in May from a level of 4.89 million in April, but are 15.9 percent below the 5.93 million-unit pace in May 2007.
NAR President Richard F. Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said buyers are seeing value in the current housing market. "Home buyers are starting to get off the fence and into the market, drawn by drops in home prices in many areas and armed with greater access to affordable mortgages," he said. "Today's buyer plans to stay in a home for 10 years, which is a good strategy for building long-term wealth."

The national median existing-home price for all housing types was $208,600 in May, down 6.3 percent from a year ago when the median was $222,700.

Lawrence Yun, NAR chief economist, said there's still a lot of inventory in the market. "The large supply of homes on the market clearly favors buyers, and it should take several months to draw the inventory down," he said. "Stabilization in home prices can only occur with buyers returning to the market, so we are encouraged by rising home sales, particularly in distressed markets. Foreclosures and short sales appear to be a larger part of the market, particularly in California, and are creating a drag on current home prices."

Total housing inventory at the end of May fell 1.4 percent to 4.49 million existing homes available for sale, which represents a 10.8-month supply3 at the current sales pace, down from a 11.2-month supply in April.

Although conditions remain mixed around the country, unpublished snapshot data shows a number of areas are experiencing much higher sales activity than May 2007, including Sacramento, the San Fernando Valley and Monterey County in California; Sarasota, Fla.; and Battle Creek, Mich.

"Keep in mind that the volume of home sales is the primary driver of economic activity that is tied to housing," Yun said. "It'd be premature to say the improvement marks a turnaround. The market is fragile, so a first-time home buyer tax credit and a permanent raise in loan limits would be important steps to get the housing engine humming."

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 6.04 percent in May from 5.92 percent in April; the rate was 6.26 percent in May 2007.

Single-family home sales rose 1.6 percent to a seasonally adjusted annual rate of 4.41 million in May from 4.34 million in April, but are 14.5 percent below the 5.16 million-unit pace in May 2007. The median existing single-family home price was $206,700 in May, which is 6.8 percent below a year ago.

Existing condominium and co-op sales increased 5.5 percent to a seasonally adjusted annual rate of 580,000 units in May from 550,000 in April, but are 24.6 percent lower than the 769,000-unit level a year ago. The median existing condo price4 was $223,400 in May, down 2.1 percent from May 2007.

Regionally, existing-home sales in the Midwest rose 5.5 percent in May to a pace of 1.16 million but are 16.5 percent lower than a year ago. The median price in the Midwest was $165,300, which is 0.7 percent below May 2007.

In the Northeast, existing-home sales rose 4.6 percent to an annual rate of 910,000 in May, but are 15.0 percent below May 2007. The median price in the Northeast was $278,000, down 2.4 percent from a year ago.

Existing-home sales in the West increased 2.0 percent to an annual pace of 1.02 million in May, but are 12.8 percent below a year ago. The median price in the West was $286,600, which is 16.0 percent lower than May 2007.

In the South, existing-home sales slipped 0.5 percent to an annual rate of 1.91 million in May, and are 17.0 percent below May 2007. The median price in the South was $175,000, down 4.3 percent from May 2007.

Dangers of Overdoing it in the Summer Heat

With longer days, warmer temperatures, and an abundance of sunshine, it's no wonder so many of us take to the outdoors for summertime fun. While it feels great to be outside for recreational activities and exercise in the summer, too much exertion can lead to serious health problems.

"When the temperature soars and humidity rises, it is time to take precautions to avoid dangerous health consequences such as heat exhaustion, heat stroke and overexposure to the sun," says Dr. Sean Robinson, assistant professor of education at Argosy University/Washington DC and ACE-certified personal trainer.

Seniors, children, and people with chronic illnesses are most susceptible to heat exhaustion and stroke, however, everyone is at risk. Many tell-tale symptoms and warning signs are associated with heat exhaustion, including dry mouth, fatigue, dizziness, headache, weak and rapid pulse, and cool, clammy, pale skin. And many of these symptoms take several hours to appear.

"The early symptoms of heat exhaustion can sneak up on us," explains Dr. Robinson. "Some people feel a bit lightheaded and weak, and might have a touch of nausea. The serious problems develop when symptoms are ignored and additional fluids are not taken right away." Dehydration - and the resulting loss of electrolytes such as sodium - is the primary cause of heat exhaustion. Dr. Robinson advises people to stay well-hydrated and take in extra salt. "Drink even though you don't feel like it - you can't count on your thirst mechanism to prompt you."

Heat stroke is the most severe form of heat illness and is a life-threatening emergency. It is the result of long, extreme exposure to the sun, in which a person does not sweat enough to lower body temperature, reaching over 103 degrees. People suffering from heat stroke may experience extremely serious medical conditions, including hot, dry, red skin; no sweating at all; disorientation, hallucinations, or delirium; convulsions; and a loss of consciousness.

"Heat stroke can occur within 10 to 15 minutes of the first symptoms. If treatment is not given immediately, permanent damage can occur to internal organs," says Dr. Robinson. He also emphasizes that heat stroke is a medical emergency. "Call 911 or transport the victim immediately to a hospital." While waiting for medical help, Dr. Robinson advises that an attendee to a heat stroke victim should move him or her to a cool place indoors and lower the body temperature by wrapping the victim in wet sheets, wet clothing or ice packs.

Summer is always a great season to enjoy and be physically active in the fine weather and outdoor opportunities. Knowing the signs of heat exhaustion and heat stroke, and what to do when one is exposed to these conditions, will help keep you, your family and friends healthy and safe during the dog days of summer.

Courtesy of ARA Content

Cooking Corner

Roasted Summer Vegetable Salad
Courtesy FoodNetwork.com

1 ear corn - grilled, shucked, and cut off the cob
1 red pepper -- roasted, peeled, and cut into a 1/2-inch dice
1 tomato -- grilled, peeled, seeded, and cut into a 1/2-inch dice
2 zucchini or other summer squash -- cut into 1/2-inch slices, grilled, and cut into 1/2-inch dice
1 tablespoon lime juice
1 tablespoon lemon juice
2 tablespoons white wine vinegar
2 ounces extra virgin olive oil
Salt and pepper

Combine all ingredients. Marinate for 30 minutes. Adjust seasonings to taste.

Hope you've enjoyed July's Newsletter. Please call or send an e-mail if you have any questions about buying, selling, or investing in real estate.

Paul Lorenzetti
REMAX of Lebanon County
Email me at:
paul@paullorenzetti.com
Visit my website at:
http://www.paullorenzetti.com/