“How much work does it need?”

That’s one of the first questions asked when considering homes for sale.  Some are surprised at the home prices – even fixer-uppers- in the Lake Wallenpaupack region of Pike and Wayne County.

Why home values are the way they are:

• Pike County is the fastest growing county in the Northeast U.S. (not just PA.)  Supply & demand at work.
• Lake Wallenpaupack is a major attraction & is the largest powerboat lake in Northeast PA.  It is the 3rd
  

  Homes Sold in Pike & Wayne County 2008

  largest man made lake in the state (maybe the 2nd largest – more about the controversy here.)

• The Poconos offers year round recreation.
• Something for everyone: golfing, skiing, boating, hunting, hiking, fishing, camping, museums, great restaurants, waterfront homes, rivers, lakes, woods, waterfalls…you get the idea.
• Close to major metro areas;  convenient location for commuters.
• Lower real estate taxes than New York & New Jersey.
• Good school districts (list of schools.)

In a nutshell, there’s a lot to love. Even though we’re in the mountains and many areas are rural, you’ll find the expected modern conveniences:  indoor plumbing, electricity (okay, ignore my sarcasm! ) High speed internet and cable TV is available in most areas.  Ample health care and shopping is within a 20 to 45 minute radius of Lake Wallenpaupack.

Folks looking for a 2nd home in Pike or Wayne County don’t want to spend “too much.”  They want

Cheep! Cheep!

something “cheap.”  Doesn’t everyone?

“Cheap” is subjective; what’s cheap to you may not be cheap to someone else.  I define a cheap home as “low priced compared to similar or neighboring homes.“

“How much work does it need?” is also quite subjective.

To some, “a little fixing up” means applying a fresh coat of paint.  To others, it means new carpets, new fixtures, and replacing paneling with drywall.

Everyone has a different perspective.

My husband and I bought a doozy of a fixer-upper 13 years ago, for one reason and one reason only: it was the cheapest home available in an area we wanted.

It had a working roof, furnace, and bathroom.  The windows kept out drafts and let in the sun. The house was cheap.

We looked beyond the ugly burnt orange carpeting.  The house was cheap. We looked beyond the hideous purple & black 1950’s bathroom tiles.  The house was cheap.  We ignored the paneled walls and ceilings.  The house was cheap.

You may have to decide what you want vs. what you need.  Everyone wants a cheap house – but homes are priced according to market value.

Homes that need work are priced at the lower end of the market; those needing less work are priced higher. Typically, the lower the price, the more work is needed.

Either you want a cheap home, or you want a home that doesn’t need much work.  It’s rare to get both in one fell swoop.

Unfortunately, watching HGTV for insights into real estate is like reading Harlequin romances for insights into love & marriage.  The two have very little connection to the real world.

Is Lake Wallenpaupack the largest man made lake in PA?

In a word, no, even though you may see it stated as such on real estate websites.  Some sites say it’s the 2nd largest man made lake in PA, but it’s not quite that either.

Lake Wallenpaupack is the 3rd largest man made lake in PA…unless you disqualify the largest lake due to the fact that part of it is shared by Ohio.

Here are some facts:

Pymatuning

Pymatuning Reservoir claims to be the largest lake, period, in the Commonwealth of PA…but part of it is also in Ohio.

Constructed in the 1930s (a CCC Project) is 17,088 acres in size.  Pymatuning seems to have the market cornered on “the most” – it is the largest State Park in PA, has the most campsites in the PA state camping system, and hosts more visitors than any other state park in PA.

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Raystown Lake

Raystown Lake in Huntingdon County claims to be the largest man-made lake that is entirely within the Commonwealth.  It is 28 snake-like miles long and is made up of 8,300 acres.

It was created in the late 1960s and early 1970s by the US Army Corps of Engineers as a flood control project.  Like Lake Wallenpaupack, Raystown Lake has part of a village beneath its depths.  Maximum depth is about 200 feet.

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Lake Wallenpaupack

Lake Wallenpaupack is 5,700 acres, is 13 miles long, and has a maximum depth of about 60 feet.  As you probably know, PPL (Pennsylvania Power and Light) owns the lake.  The lake was created in the late 1920s into the 1930s as a hydroelectric project.  The lake still generates electricity during high energy demand times.

So, Lake Wallenpaupack is not the largest man made lake in PA, and unless you really want to argue details about borders, it’s not even the 2nd largest lake in PA.

Oh well…Lake Wallenpaupack can still be the BEST even if it’s not the BIGGEST, right? It is the largest lake in northeast PA, and the nicest powerboat lake around.

Click the picture below to see some other views of Lake Wallenpaupack – it’s beautiful all year long.

Lake Wallenpaupack

I’m sure there’s a dock with your name on it – call me to claim it today!

Q: Why should I sign the contract before the home inspection? What if something is wrong and we don’t want to buy the house after the inspection?

A: Because that’s the way we do it here in Pike and Wayne County, PA.

Please forgive me for being a smart-aleck. The truth is, it’s for your protection as a buyer. Think about it. You find a house you love, maybe a lakefront home on Lake Wallenpaupack, and decide you’d like to purchase the home, contingent upon satisfactory inspections. So, you contact a home inspector who tells you he’ll inspect the home sometime next week.

Great. Once the inspection comes back clear, you’ll sign the contract, right?

You hire the inspector, and pay the $250 – $500…and then you contact your real estate agent to write up the contract.

Uh-oh. It’s already under contract. Someone else beat you to it. And you’re out the inspection fee.

The contract is contingent upon satisfactory inspections; so if there is something wrong with the home you can negotiate further with the seller. It’s in your best interest to enter into a contract before having the home inspection.

WEICHERT, REALTORS® – Paupack Group Independently Owned and Operated

Karen E. Rice is a real estate agent working in Pike & Wayne County of Northeastern PA in the Pocono Mountains. Lake Wallenpaupack is one of Pennsylvania’s most popular destinations for vacations, retirement, and purchasing a home.