PA Lake home prices skyrocket during Covid

[LPJR]

Spent a couple of days with family at the lake house in the Hideout in Pa this weekend. A resident (year round) and neighbor was saying how homes in Lake Ariel are going for double of what they were purchased for only a couple of years ago. Some are going for more, no joke. 

Door to door it is exactly one hour from the house. No way we would even think to sell.

Took my twin nieces fishing again because they called me and wanted me to go with them.  Caught a bunch of sunnies and rock bass. But when my one niece said the sunny was the most "beautiful, GINORMOUS, MONSTER" fish she has caught, those smiles and times are worth their weight in gold! They did not want to leave to come back to the house for dinner, ha! 

Had to post a pic of the monster- zoomed in! 

 

Edited September 8, 2020 by LPJR

[Russ 11]

Looks like a great time Lou .   With the ridiculous amount of NY plates driving on Rt 80 heading out to PA it doesn’t surprise me .  On a side note those New Yorkers are the absolute worst drivers possible . Either doing 60 in the fast lane or driving like the Fast and Furious . 

[thefirstndsecond]

Hey just make sure those transplants vote properly. 

Great job fishing!

[MPSR]

The price of dentistry went up in that area as well. It’s a sellers market right now. I would sell, problem is you would have to split with 50 people.

nice pics👍

[BowhunterNJ]

Great time and pic Lou!  

[LanceinNJ]

I used to vacation in The Hideout when my kids were younger. Awesome place. Wish I had bought then.

[tcook8296]

Ha the lochness guppy

[Swamprat]

Great pic. 

Next time stick a hook thru it's back and send back out. Moby will eat it. 

[JHbowhunter]

had 5 of the 14 houses flip on my street - some didn't last a day on the market!     Hopefully no hunters!  

May have to consider selling my little slice of whitetail and bear heaven soon.       Serious offers only!

[Lunatic]

Sellers market. A house just sold on my street in two days for very good money. I wish it was my time to retire and move out right now

[mazzgolf]

What bait were you using? Pound test?? What's that reel???? Inquiring minds want to know!!!  

A couple weeks ago, my neighbors put their house up for sale again (they moved to NC, but they couldn't sell it last year - so they got stuck having to try to rent it to what ended up being freeloaders that skipped out on 6 months rent). Anyway - one weekend, 40+ showings, 11 offers later, they sold the house for 25K OVER asking price. Wasn't on the market for more than a couple days.

I'm hearing the same stories over and over so I asked the realtor one day while he was over there, "why - in the middle of a pandemic - are people buying up houses like this?". He said the past 2 warm winters we had didn't allow for inventory to build up. We have no inventory. Supply and demand. Add in the fact that a lot of people are wanting to leave cities... and we have a perfect storm. I found out my new neighbor is a woman coming from Staten Island. No idea if that's a good or bad thing - I hear those people don't like deer hunting. 

[Nomad]

It's amazing that this is not big news.  City folks are fleeing the city!  I guess it doesn't fit the dems and liberal medias agenda.  The real estate market went from dead to houses doubling in price as soon as coronavirus and the rioting started.  Houses sell almost immediately.  Would sell and get out now , but I think prices may go up higher as availability dwindles and my son has one more year of high school.

[_X7]

What a great photo showing off  her catch.

Don't know what to say about the housing sell and buy, but I wish I had some homes to flip. Its madness.

Edited September 8, 2020 by _X7

[Farmingdales Finest]

It's amazing that this is not big news.  City folks are fleeing the city!  I guess it doesn't fit the dems and liberal medias agenda.  The real estate market went from dead to houses doubling in price as soon as coronavirus and the rioting started.  Houses sell almost immediately.  Would sell and get out now , but I think prices may go up higher as availability dwindles and my son has one more year of high school.

It’s on CNBC almost daily because it effects how business is run.

I have a client who is the CEO of a public company in NYC. I met with them the end of January and he and and his wife were going to look in the SE the next week to get an idea where they wanted to move in retirement. COVID closes everything and he discovers that his employees are happier at home with no drop off in productivity. He decides when the office lease is up they are not renewing and going to get a much smaller space just so he and his employees have a place to go when they have meetings.

They closed on a house they bought Friday in South Carolina and will be moving there full time in two weeks.

I as a financial advisor have clients all over the country and am looking to move either to Montana or Colorado with Montana in the lead.

Everything is changing with this virus.


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[Batsto]

A home on our street sold within 12 hours. No Sale sign necessary. Low interest rates has everyone house jumping.