Tag Archive for: NEPA

Buying vs Leasing Office Space: How to Buy a Commercial Property

Buying or leasing office space comes down to one thing: what makes the most sense for your business right now, and where you’re headed next.

For some, buying is a long-term investment. For others, leasing offers the flexibility they need to grow. In NEPA’s evolving market, knowing how to buy a commercial property is the first step toward making the right choice for your business.

Buying vs. Leasing Office Space: What’s the Difference?

The decision comes down to ownership vs. flexibility. 

Buying office space means you own the asset, build equity over time, and have full control over the property.

Leasing gives you access to a space without the long-term commitment or upfront investment. 

One is a long-term investment strategy, the other is a short-term operational decision. 

Pros and Cons of Buying vs. Leasing

Buying Office Space

Thinking long-term? Buying commercial property might be a powerful move, especially if you’re learning how to buy a commercial property with investment in mind.

Pro: Equity + long-term investment
Instead of paying rent, you’re building ownership in an asset that may appreciate over time. Appreciation = higher property value. Now that’s something you’ll appreciate.

Pro: Control over your space
You can customize, renovate, and use the property exactly how your business needs it. Paint the walls or knock them down—it’s your choice.

Pro: Local market opportunities
In many parts of Northeastern PA, buyers can still find value in commercial properties compared to larger metro areas, making ownership more attainable for growing businesses.

Browse our available commercial listings to get a clearer picture of what’s currently on the market.

Con: Higher upfront cost + responsibility
Here’s where the magic wears off. Down payments, maintenance, repairs, and property management all fall on you.

Con: Less flexibility
Owning a property can make it harder to pivot if your business needs change. Selling or relocating takes time and planning, which can limit your ability to move quickly.

Leasing Office Space

Leasing keeps things lighter and more flexible, especially in earlier stages of growth.

Pro: Lower upfront cost
It typically requires less capital to get started than purchasing, so you can get into your commercial space faster.

Pro: Flexibility
Easier to relocate, expand, or downsize as your business changes. Since businesses go through a lot of changes, especially in the early stages, that flexibility can be a huge help.

Pro: Access to established business areas
Leasing can make it easier to secure space in high-traffic or established commercial areas where buying may be more competitive, especially in NEPA’s more established business districts like Downtown Scranton and Wilkes-Barre.

Con: No ownership or long-term return
Less stability. Monthly payments don’t build equity, and rent can increase over time, leading to higher overhead costs.

Con: Limited control over the space
Lease agreements may restrict how much you can modify or customize the property, which can impact how the space reflects your brand.

Step-by-Step Guide: How to Buy a Commercial Property 

Leaning towards buying? Here’s a quick guide on how to buy a commercial property, without overcomplicating the process:

  1. Define your needs and budget
    Identify how much space you need, where you want to be located, and what you can realistically afford.
  2. Secure financing
    Explore commercial loans, SBA options, or other funding sources to understand your purchasing power.
  3. Work with a commercial real estate professional
    An experienced agent will help you navigate the market and negotiate effectively.
  4. Evaluate properties
    Look beyond shiny appearances. Consider factors like zoning, accessibility, future growth potential, and total cost.
    Tip: NEPA zoning regulations and municipal requirements can vary significantly, so having someone familiar with the area will help you avoid costly surprises.
  5. Perform due diligence
    Ensure there are no surprises after closing with inspections, financial reviews, and legal checks.
  6. Close the deal
    Finalize terms, secure your approval, and complete the purchase with confidence.

Should You Buy or Lease Office Space?

There’s no universal answer, but there is a right answer for your situation.

Buy if your business is stable, growing, and planning to stay in one location for the long-term. Buying allows you to build equity and create a permanent foundation.

Lease if you need flexibility, are still scaling, or want to preserve capital for other investments. Leasing gives you the versatility to keep up as your business evolves.

 

Ready to Explore Your Options?

Whether you’re early in the process or actively researching how to buy a commercial property, having a clear strategy makes all the difference. 

At Realty Network Group, we’ll help you talk through your situation with a local commercial real estate professional, who will listen to your most pressing needs and understands the Northeastern Pennsylvania market. Reach out to our team and evaluate what makes the most sense for your business.

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Why Buying A Home Is A Good Investment

Tired of renting? We know that feeling: When you realize you’re paying every month for a place you’re not allowed to paint. Or when you get your latest lease renewal and you’re shocked at the price jump. You find yourself scrolling through listings late at night and asking: Is it the right time to buy a house?

It’s easy to get caught up in interest rates, inventory, and predictions. But buying a home isn’t just a market decision, it’s a life decision. When you’re thinking about putting down roots, timing becomes less about chasing that non-existent perfect moment and more about recognizing when you’re ready for what’s next.

When to Buy a House Depends on Personal Readiness

For most first-timers wondering when to buy a house, the answer comes down to stability. Are you planning to stay in Northeastern PA for several years? Do you have a steady income? Manageable debt? Enough savings for upfront costs like the down payment, earnest money and home inspection (to mention a few)? If you’re unsure what upfront costs to expect, resources like HUD’s homebuyer guide help break down what first-time homebuyers should plan for.

Interest rates keep rising and falling, and inventory shrinks and grows. But if you’re planning to own your home for more than a few years, those short-term movements don’t matter as much as your long-term plan. Readiness comes from financial and personal preparation, not a crystal ball.

Building Equity Creates Long-Term Wealth

One of the biggest financial advantages of homeownership is the ability to build equity — the difference between what your home is worth and what you owe on your mortgage. With each mortgage payment, you gain equity in an asset that can grow in value instead of paying rent and starting from scratch every year.

Over time, that equity can become a valuable financial tool. It can help pay for your next home or those big renovations you dreamed about when you first moved in. For many homeowners, their property becomes one of their most significant assets.

Appreciation Adds Value Over Time

In markets like NEPA, real estate has historically appreciated over the long term. That growth, combined with paying down your mortgage balance, can strengthen your overall financial position.

For first-time buyers, entering the market means starting that clock. The earlier you begin building equity and benefiting from appreciation, the more opportunity there is for long-term gain. Real estate rewards patience and consistency.

Stability Brings Peace of Mind

Homeownership also provides stability that many renters are looking for. A fixed-rate mortgage offers predictable monthly payments, which can make overall budgeting easier year after year. You’re not left worrying how much your housing costs might increase at the next lease renewal.

There’s also something deeply satisfying about owning your space. You can paint the walls, get a pet (or three) and make updates that reflect your unique style. More than a financial investment, your house becomes home sweet home.

Making a Confident Decision

If you’re asking when to buy a house, take a moment to look at your bigger picture. Are you financially prepared? Do you see yourself staying put for several years? Are you ready for the responsibilities that come with ownership? Those answers will provide more clarity than any market forecast.

Buying a home is a significant milestone. It can feel intimidating at first, especially if you’re navigating the process for the first time. With experienced local guidance and a clear understanding of your goals, the path forward becomes much more manageable.

Final Thoughts

At Realty Network Group, we believe purchasing a home should reflect what’s truly best for you. Our team combines deep local knowledge of Northeastern Pennsylvania with a client-first approach, so you’re never left guessing about your next step. If you’re thinking about when to buy a house, reach out to us today and we’ll help you evaluate your options with a plan that fits your goals.

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A Taste For Buying & Selling In NEPA

For more than twenty-five years David has worked in the hospitality industry, coming together with some of the most renowned chefs in the country to provide unparalleled experiences for diners and special event guests in settings both intimate and grand. Customer-service-obsessed and eminently skilled at building relationships, David has met the incredibly high expectations of clients of the finest restaurants in San Francisco, Chicago and New York. In his role as a general manager, whether in a fine-dining restaurant or a high-end event venue, no detail escapes his attention. Maximizing every opportunity for both his employers and his clients has always been the hallmark of David’s career.

David recently joined Realty Network Group and he’s thrilled to have the opportunity to be part of a growing team and a thriving local business. Like his colleagues there, some of whom he’s known since childhood, David adheres to the highest standards of integrity and is deeply committed to building a collaborative culture. His deep roots in the area – including several of his seven siblings, who live and work locally – have resulted in his building a distinct network. His commitment to the growth and prosperity of Northeastern Pennsylvania (NEPA) and its residents is stronger than ever.

While excited to be connecting buyers and sellers throughout our market, David is particularly drawn to the idea of helping people find homes (their first home, their forever home, their investment home, whatever that may be). In prioritizing getting to know his clients and understanding their values, dreams and vision for their lives, David is an ideal collaborator and guide for anyone looking to make a home in NEPA.

David has the ability to see the potential of a property beyond its surface traits, as evidenced by his personal investment in a turn-of-the-century Victorian home and his ongoing efforts, with his partner Patrick, to restore the home’s original character and grandeur, while making it both beautiful and livable. Recently featured on the Lackawanna Historical Society’s Historic Hill House Tour, this beautifully revitalized home is a great example of David’s eye for interior design, his respect for history, while still having a disposition for the future, and his interest in building community and investing in his beloved hometown.

David Boland is native to our region, having been born and raised in Clarks Summit, where his parents still reside, and now as a resident of Scranton’s historic Hill Section. He loves antiques and has a special talent for upcycling vintage furniture and other elements of home décor. A skilled cook and entertainer in his own right, David can frequently be found at the Co-Op Farmer’s Market in Scranton, at one of the area’s garden centers, sourcing great local ingredients, refining his home landscaping and updating the seasonal décor for his wrap-around porch.

If you’re in need of the services of a REALTOR®, who has his eyes on the details, who looks out for your best interests throughout the real estate process, contact David Boland today at 773-791-0329 or via [email protected].

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Helping To Reach The Places You Want To Go

Realty Network Group is expanding into Luzerne county and now further up into Susquehanna county. The Upstate New York-Pennsylvania border isn’t a stretch either with the recent addition of Sonia Hegedty. She’s an outgoing licensed professional who’s eager to serve clients who know what they want in the way of real estate investments in addition to those trying to find their way toward home ownership. She joins our firm with over a year of experience.

“I look forward to connecting buyers and sellers in Susquehanna, Wyoming, Lackawanna and Bradford counties,” exclaims Sonia. “It’s all about bringing value to my clients and helping them reach the places they want to go.” Realty Network Group’s newest addition is a forward-thinker. Her education, her drive to learn more, her networking ability and willingness to help her clients makes her an invaluable resource to them. She understands the power knowledge has in this business – the power to skillfully navigate through transactions with some pretty hefty price tags. She has her eyes set on becoming an Associate Broker over the next four or five years.

“Being part of events in my community is also important to me,” expresses Sonia. In fact, that’s one of the things that led her to a community-conscious company, like Realty Network Group. “This company is a great fit for me,” reveals Sonia. “It’s somewhere I feel comfortable and whose vision matches mine. Realty Network Group has a great network of agents. One of their strengths is the ability to be present and have an up-to-date way of interacting with consumers through technology, social media, while still maintaining that personal touch.” She enjoys working with homebuyers and sellers alike and uses a visual approach, helping them understand their needs. When working with buyers, she loves making suggestions that they may never have considered before: how a room’s layout can function for them or what modifications can transform the house into a home. These strategies inevitably favor sellers too. The visual components of placing a home on the market are some of the most critical when showcasing real estate to potential suitors.

Sonia was born and raised in Susquehanna county and is a graduate of Elk Lake High School. Her two children attend the same school district as she did. She loves Northeastern Pennsylvania, including the Endless Mountain region and all that it has to offer. She enjoys spending time with her family, golfing and reading.

If you’re in need of a positive, friendly REALTOR®, who understands the value of communicating with her clients in a timely manner, contact Sonia now at [email protected] or 570.767.1668 (cell).

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Real Estate With ‘A Little Extra’ Mixed In

Realty Network Group is pleased to announce that Alicia Miles, a REALTOR® serving the Greater Scranton area, has joined their firm. She recognizes this change will provide opportunities for her clients looking to buy or sell. There are challenges ahead in this market for those Alicia is guiding, for sure, but her optimistic-approach bodes well for anyone she’s representing. Her positive demeanor mixed with a hands on, easy going attitude sets the stage for success in addition to building relationships that will last in this business. “I love making dreams become reality,” underscores Alicia. “And this is a distinct possibility when I first encounter customers looking to take that next big step. Understandably so, it can be intimidating, but some are simply unaware of how close they really are. This is where I come in. As their agent, I’m able to guide them in finding the perfect home or selling theirs or both!”

Prior to real estate, Alicia, with experience in masonry and construction, built commercial swimming pools as well as worked as a full-time preload supervisor for UPS. In addition to presently being employed as an independent contractor for FedEx and being a mother of two boys, she enjoys representing homebuyers and sellers throughout Northeastern Pennsylvania (NEPA). “Whether it’s being an independent contractor for FedEx or Realty Network Group, I want to continue to challenge myself,” maintains Alicia. “In both of my positions, it’s critical that I heighten my attention to detail and go above and beyond for my customers.”

Alicia believed she needed to join a company who would support her in these efforts and provide further training to be successful. That company? “Realty Network Group is a Brokerage where I get a pervading sense of trust from the Broker, Associate Brokers and many of the other agents I’ve interacted with there,” states Alicia. She thinks it’s easy to talk to agents at this company. She reiterated what some have stated in the past – “You feel like you belong. The support goes beyond what you’re provided with at most other Brokerages.” She’s excited to have made the switch. “We’re happy to have Alicia as part of our family and we look forward to many of the amazing things she’ll accomplish in the months and years to come as one of our professionals,” affirms Dianne Montana, Principal Broker of Realty Network Group.

One of the firm’s satellite offices, located in Old Forge, provides her with the perfect place to meet clients. Growing up in Sunbury, a location with a small town vibe, slightly similar to Old Forge, where she currently resides for over the past six years, has helped her appreciate NEPA and all that the area has to offer. She loves the Greater Scranton community. She also enjoys spending time with her family, being involved in the community, going to the gym, her “Jeep life,” camping, cheering on her boys, just to name a few.

If you need a confident real estate professional, who exudes positivity, contact Alicia right away at [email protected] or 570.556.7987 (cell).

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Someone You Can Count On

A real estate career is truly unique, unlike any profession you’ll discover. Those who have been connecting buyers and sellers for some time will tell you no two transactions are alike and there are hurdles along the way – many! Realty Network Group’s newest agent, Florence Avvisato, is eagerly awaiting the challenges that will inevitably appear for her seller and buyer clients in 2023. This industry is always changing, in fact there’s never been a time which has mimicked the past three years in real estate. Florence recognizes present opportunities not only for her clients, but also for her personal growth.

We recently sat down with her to find out where she sees herself in five years. Furthermore, we were impressed with her ability, in the first place, to anticipate the skills needed to be successful. “On the surface, real estate is a challenging space, and that appeals to me,” remarks Florence. “Because this industry grants flexibility for originality and possibilities for those willing to pull in the time, there are a variety of ways individuals can thrive. I believe this gives people the ability to excel creatively, and for that reason, real estate will always be stimulating.” Her forward-thinking approach will be an asset to her clients, who can count on her integrity and ambition, as she seeks to go above and beyond to meet their needs.

Years from now, Florence envisions many of her strengths, which she learned or fine-tuned in the hospitality and medical fields, creating advantages for her homebuyers and sellers. Her experience in hospitality taught her how to be humble. She learned the importance of punctuality, accommodation, thriving under pressure and attention to detail. Each of these traits are often sorely missed in our business. For instance, her ability to “read the room” and meet people in their present situation in order to effectively communicate is an exceptional quality for a REALTOR® to possess today. Moreover, similar to how customers notice the details of their surroundings (such as a restaurant), buyers notice how a property shows or if their agent is someone they can relate to and trust. If people don’t like what they see, they’re not coming back!

As someone starting a new career in real estate, she believes it’s critical for people to know they can count on her. “I truly care about buyers and sellers, and being their trusted guide through one of life’s most monumental moments,” reveals Florence. “I don’t take a purchase or sale of this size lightly. I knew I wanted to team up with a Brokerage, who supports their REALTORS®, one who provides ample training. Realty Network Group is what I perceive as an incredibly safe space for learning, and learning is my key objective at this point.” She sees the value in a firm that provides excellent training, understanding that the more she knows, the better service she can provide to her clientele. She saw a great reputation in Realty Network Group, one with a strong foundation of integrity and ethical practice.  “The way people perceive you is greatly attributed to how you treat and carry out business with them,” asserts Florence.

She’s lived in Northeastern Pennsylvania, specifically the Wyoming Valley, for over the past two decades, but she’s very familiar with the Scranton/Wilkes-Barre area. She loves that NEPA allows for a variety of lifestyles and provides so many places to explore. She’s a devoted wife and mother of three and resides in the Back Mountain. She’s an avid outdoorswoman and enjoys doing anything outside, especially gardening or hiking through national parks. She’s currently training to run her second half marathon race in March.

If you’re in need of the services of a real estate professional, someone who has a positive demeanor, who’s highly motivated and energetic, and who tries to see things from other people’s perspectives, then Florence Avvisato is the agent for you! You can reach her directly via 272-446-0407 or [email protected].

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A REALTOR® With An Entrepreneurial Spirit

Real estate is more than a transaction, it alters lives and creates memories. It’s about helping homebuyers and sellers make the right move at the right time. One REALTOR® who ascribes to this mantra is Halle Stevens. Born and raised in Northeastern Pennsylvania, this passionate, bright and enthusiastic agent is excited for what the future holds. Recently, she made the move to Realty Network Group, a company that embraces many of the ideals she also holds to be true.

“Meeting people and communicating is critical for helping buyers and sellers make the right move,” indicates Halle. “I enjoy learning what my clients need, their wants, then developing a custom plan for the individual or their family, if they’re shopping for a home or investment, or for the property, if they’re looking to sell.” When sitting down with Halle, you understand why she’s successful in this business. What makes her stand out from other agents is her drive, her commitment to her clients in addition to how she’s wired to communicate. Furthermore, she has a strong background in marketing, which is never wasted in our industry.

In her past life, Halle displayed her entrepreneurial mind set when she launched an Instagram page, which quickly became a success. The page focused on the promotion of (national and international) real estate houses for sale. It was during this venture when she discovered how to get the most eyeballs on the listings she was featuring. Now, as she gains more experience dealing with buyers and sellers, homeowners reap the benefits of having an agent who knows how to market their home. And effective marketing is crucial with 51% of buyers now finding the home they eventually purchase online.

Besides her passion and motivation for connecting buyers and sellers, her relationship-forming abilities are a strength too. “My philosophy is simple,” reveals Halle. “My clients come first!” She’s dedicated to providing excellent service, while keeping her clients informed every step of the way. She’s a real estate professional who’s in constant communication with them, available 24/7. Her attention to the transaction, from beginning to end, aids her goal of making it a positive experience for her buyers or sellers.

“Realty Network Group is centered around their agents,” points out Halle. “This allows them to have more tools and knowledge at their fingertips for their clients’ benefit. This firm is a great fit for me, because of the support they provide, their office atmosphere and the positive reputation they have throughout our area. They’re also very involved in giving back to the community, something I’m always striving to do. I’m extremely eager to get started at Realty Network Group. 2023 is my year!”

From a very young age, Halle has always wanted to be a real estate agent. She loves every aspect of the business and couldn’t imagine doing anything else. Her family has been a positive influence in her life as well. Her grandparents instilled in her a strong work ethic and the idea that with hard work anything can be accomplished. They taught her that dreams are only goals you can attain and to never give up.

Are you looking for a fresh start in real estate and need the services of an agent who is locally-connected, who loves what she does, who is always available and who is dedicated to providing you timely, accurate information? Then experience the difference the RIGHT AGENT can make, someone who puts you FIRST. Connect with Halle today at 570-909-6018 (direct) or via [email protected].

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Downtown Living In Northeastern Pennsylvania

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Downtown living is a different way of life, especially in Northeastern Pennsylvania (NEPA). Whether it’s Scranton or Wilkes-Barre, there are arguably more amenities at your fingertips and a different mode of going about your daily activities compared to other areas in the region. Downtown living provides residents options for how they conduct their affairs and how they interact with their community.

Downtown living in NEPA is often perceived as being in sharp contrast to the more rural lifestyle so many from our region experience regularly. Most of our school districts cater to children from bucolic areas. Heck, even some from our communities will joke about how traveling into downtown Scranton is like entering “the big city.” Yet, there are those who migrated in from major metropolitan cities. To them, Scranton is as miniature as you get for downtown living!

The Electric City, as Scranton is also known, once built upon the shoulders of coal-mining families, has evolved into something of legend. On November 30, 1886, the first streetcar system run entirely by electricity, made its debut in America in downtown Scranton. Where there were once strong ethnic concentrated centers of Irish, Italians, Polish, Germans, Jews throughout parts of the city, a melting pot has sprung up giving unique spins on the culture. This is evident in restaurants like Thai Rak Thai or even two in the north side: Casa Bella and Ipanema Grille. There’s a new-found sense of hope for a rebirth movement in this city.

The rebirth of a city plays a role in downtown living done right. Some of the essential features that make for great downtown living are walkable sections of town; commercial space that is of the mixed-used category; gathering spaces for recreation, education and entertainment; a successful residential component; and accessible/affordable parking. While these aren’t the only features that make a downtown thrive, they should be on everyone’s radar. We believe Scranton is building towards something spectacular. Obviously there’s still work to be done, but economic revitalization efforts have been undertaken by the city and organizations, such as Scranton Tomorrow. We simply can’t overstate how vital this volunteer-based organization has been in transforming downtown Scranton, especially in recent years.

Being a walkable community makes for great downtown living. Wide sidewalks, decorative courts/side-streets, greenspaces and removing graffiti/litter are ways to create pleasant spaces for pedestrians. Having a mixed-use mindset is also necessary for any new development and construction that takes place in the downtown area. Pedestrians want to be able to connect to the larger community, which surrounds them, and they want to feel welcomed as they venture around town. Community connection goes beyond commercial businesses. Connecting at events, drinking establishments, performing arts centers, fairs, movie theaters, parks, artisan markets, just to name a few is important for the creation of downtown living, which is a step above the rest. People want downtown living to be their city’s family room, especially in the later hours of the evening. Having affordable and convenient housing as well as parking are also what makes downtown living click.

Since COVID, we’ve experienced a trend in NEPA whenever possible where restaurants and pubs have provided more opportunities for patrons to enjoy food, drink and entertainment outside, in larger upgraded/converted spaces or in semi-covered areas, usually a back patio space or front of a building. Other accommodations have been made at hotels, convention centers, etc., but restaurants seem to have been the most creative to date.

A recent positive trend with respect to downtown living has been a decrease in vacant commercial space. When more businesses are leasing space or renting larger spaces, or when developers start thinking about catering to a person’s balanced lifestyle rather than only one of their aspects, everyone wins. In Scranton, one great example of a business who has done exactly this and has doubled-down on investing in the downtown area is Noteology. For downtown living to be done right, it’s all about a lived experience which is optimized and shared by residents and visitors to the city. Create a story and memories, then some of the first steps toward building a flourishing downtown are realized.

Successful downtowns don’t sprout up overnight. They take time, hard work, cooperation, great minds, forward-thinkers, patience and the like. To produce a “live-work-play” community in Scranton, or anywhere for that matter, takes these things in addition to the attributes described above.

 

* Image courtesy of Discover NEPA

 

Real Estate and Houses for Sale in Scranton, PA

Commercial Properties for Sale Near Scranton, PA

Lake Houses for Sale Near Scranton, PA

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Helping Clients Find Their Vision

Realty Network Group is pleased to announce the addition of Annabelle Rogers to their network of real estate professionals. She’s a newly licensed REALTOR® who’s lived in Northeastern Pennsylvania since the age of six. She’s eager to help families find what they’re looking for: investment properties, starter homes, forever homes and the like. Annabelle has a distinct skill set, which sets her apart from some of her peers in our business. These include an extensive background in child care, experience in customer service, an affinity for interior room design and a Bachelor’s degree in Mathematics.

These abilities will help her succeed, while connecting buyers and sellers in today’s challenging market. “I love assisting children and their parents,” explains Annabelle. “Besides child care or my responsibilities as a nanny, one of the most important things I can do for families is to help them connect the dots as they seek to acquire or sell a home.” Catering to people’s needs is certainly a strength she brings to the table.

Annabelle has her eyes set on furthering her education, perhaps one day becoming an Associate Broker. She plans to keep learning and improving her craft, enabling her clients to prosper. There’s a certain level of knowledge and anticipation needed as a real estate professional and she believes she’s headed in the right direction. Trustworthiness also plays a role. Her past and present employers know she’s very trustworthy – she’s even been left with their infants in foreign countries.

“After interviewing with several companies, Realty Network Group offered the most support for a newer agent like myself,” maintains Annabelle. “This company was most eager to help me excel in this business. Their marketing is a step above the rest and their website is user-friendly and very appealing. I look forward to the new year and assisting homebuyers and sellers on their path to homeownership”

Annabelle will be a great addition to Realty Network Group. Her passion for learning, her ability to problem solve and her willingness to help are also pluses as she begins her real estate career.

If you have your heart set on buying or selling in the near future, get in touch with Annabelle Rogers today. Her upbeat nature and work ethic are sure to be strengths for you in reaching your real estate goals! She can be contacted at 570-862-3331 or at [email protected].

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Holding On To Summer

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Black-eyed Susans are in full bloom, raging across gardens and hillsides in Northeastern Pennsylvania. Chatter has begun about picking apples, not blueberries, from an orchard near you. Ritters, anyone? Sure, Dunkin Donuts is now showcasing its Blood Orange Refresher, claiming it’s their seasonal drink. Schools are reopening for the new academic year. Football has begun again! Did you catch yesterday’s Backyard Brawl thriller? The unofficial end to summer happens this Labor Day weekend. And yes, this morning was a little chilly, I must say, but I’m holding onto summer this year!

We lack the four seasons in our region, we really do. Spring, in recent years, is a mixture of winter slop and daffodils and crocuses refusing to make up their minds whether it’s time to sprout or not. Autumn seems hidden behind the winter breeze that kidnaps the summer heat. When summer finally gets into motion, department stores are cramming Halloween decor and Christmas lights into our shopping carts. Don’t get me wrong, fall is my favorite, absolute favorite season of the year. [I even purchased a case of Founders’ Oktoberfest a few days ago – shhhh!] I’m just not willing to surrender to autumn this year. I don’t care how many times you shout pumpkin spice!

Summer hasn’t made an exit yet. In fact, I had sand between my toes only days ago and a sunburn on my right arm.

Real estate may likewise side with my position. It appears, like me, it could be summer dreaming. Some of its optics exude traditional summer responses. More properties have gone under contract in August of this year as opposed to August of 2021 and the housing supply remains dismal, 1.65 months supply, last time I checked. Keep in mind, a balanced market with normal inventory levels produces a month’s supply between five and seven. Nevertheless, as much as I hate to admit it, our market’s leaves are changing color. Sold listings through last month, year-to-date, are down 6.4%. New listings, likewise, are down month-over-month, when compared to last August, by over 23%. Perhaps this market has had enough of the surge it experienced over the previous twenty-six months (give or take).

Could it be that homebuyers, much like blueberry-pickers of July and August, have had their fill? They’ve looked at the entire inventory (which hasn’t been much), they’re fatigued by record-setting inflation and mortgage rates that don’t look as appealing as they did this past January. Although there’s certainly an element of truth to these pressures, the strain has been on buyers for some time now, our market remains rather healthy. When will inventory increase and the market become more balanced? That’s really anyone’s guess at this point – industry experts have yet to nail that down. In spite of that, year-to-date, there’s been a 19.9% increase in homes sold this year opposed to only five years ago in 2017.

We’re looking forward to a change in season in real estate, after all buyers need reprieve too! But summer wants to stick around this year (it told me so). We hope you can enjoy the few remaining weeks of the season.

* statistics from the Greater Scranton Board of REALTORS® (August 2017 – August 2022)

 

Whatever season you find yourself in, make sure to use our “search by city” feature and discover all our area has to offer.

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