What's Up With Glenmaura? (sale, foreclosure, mortgage)

[SteelCityRising]

Originally Posted by I LOVE PA!

I was told a few times that the average home sales are 10% of the houses in the area. So...that would seem within normal limits...might be even under!
Where's our friend Karen Rice??

True. If that's the case then this is indeed nothing out of the ordinary, as there are well over 150 homes in Glenmaura. I never did an official "count," but perhaps I'll do that at some point today.

[The Commish]

Originally Posted by John From Scranton

And no im not mad because im not one of the lucky few that get to live up there.. Most of them have all that money handed down to them, after someone from a big company dies..

You don't know that at all.

I also find it highly ironic that you're making these comments about inheritance since I peg you as the type of guy to support permanently repealing inheritance taxes. Is that accurate to say, John from Scranton?

[nkotb]

I think it goes back to the tread -- affluent in NEPA -- Life was good in the 1990's - and now its not !! People were living beyond their means --- Wannabees !!!

[blip]

Originally Posted by The Commish

You don't know that at all.

I also find it highly ironic that you're making these comments about inheritance since I peg you as the type of guy to support permanently repealing inheritance taxes. Is that accurate to say, John from Scranton?

Inheritance taxes? You mean the death tax?

[John From Scranton]

Originally Posted by blip

Inheritance taxes? You mean the death tax?

Now, now, blip.... He's a Law, kid he knows what he's talking about..

[blip]

Originally Posted by John From Scranton

Now, now, blip.... He's a Law, kid he knows what he's talking about..

Yeah. You didn't answer his question though..

[The Commish]

Originally Posted by blip

Inheritance taxes? You mean the death tax?

Haha.

Gotta love the conservative version of "political correctness."

[The Commish]

Here is the master plan for Glenmaura:

For the residential part, the O'Connor and Greene sections are being built right now. The Amato section is built, but not completely built up with homes. So far, the Wordsworth and Swift sections aren't built. Swift in particular is interesting because it's supposed to be located so close to the baseball stadium. There is no getting around traffic at that distance!

Does anyone know when construction is supposed to start on widening Montage Mountain Road? It was supposed to start after the summer concert season was over.

http://www.glenmaurasales.com/images/overview.jpg (broken link)

[KarenRice]

Here I am -

Problem is, I know nothing of the real estate market for Glenmaura, or much of Scranton for that matter. My market area is the more rural Wayne & Pike County.

I don't know that 15 homes for sale is unusual for a subdivision though, I guess it depends on the subdivision. Here by Lake Wallenpaupack, there is a tiny subdivision known as Aspen Ridge. Not big at all. At one point there were NO homes for sale - to suddenly at least 5 all within a similar time frame. It looked suspicous...what's going on in Aspen Ridge?

Well, the house I had listed for sale was a matter of the owner getting transferred to another job in another county. Another one my office had listed was an elderly lady who lived alone and just wanted to be with her kids. I don't know the other stories..

I do question John From Scranton's supposition that 99% of them are foreclosures...

I did a search of Glenmaura. There are 17 homes listed for sale in that subdivision - and none of them is a foreclosure. There might be some short sales though...

I would say that the amount of homes for sale that are actual foreclosures is closer to 10% (based on what's listed with real estate agents. There could be more that are NOT listed with agents, but NOWHERE NEAR 99%!)

It's an even lower percentage in my area.

[blip]

Originally Posted by ScranBarre

True. If that's the case then this is indeed nothing out of the ordinary, as there are well over 150 homes in Glenmaura. I never did an official "count," but perhaps I'll do that at some point today.

sounds like it is far from the norm for the entire zip code-- 46 properties for sale out of 2161, or ~2% vs ~10% in glenmaura.

i'd guess that the people living there are not the norm for the zip code either, and more wealth usually means more mobility, but that number still seems high. given the real estate climate of the past few years, i'd bet on there being some over-reach..