LiveHarrisburg

REALTOR OF THE YEAR

2008-03-15T17:49:00.000-07:00

(Lemoyne) RSR REALTORS® President/CEO and Broker of Record, Greg Rothman was awarded the Greater Harrisburg Association of REALTORS® prestigious “REALTOR OF THE YEAR AWARD” on Friday, March 14, 2008.

Rothman, who joined RSR in 1989, was named a partner in 1999, and rose to his current position in 2001. He was ranked in the Top 1% in production out of over 1,700 licensed REALTORS in the Greater Harrisburg Area. His production placed him number 3 and he was ranked number 4 in terms of number of transactions closed in 2007. He has been ranked in the Top 1% for the last four years. He closed over $30 Million in 2007.

He has served as a member of the Board of Directors of the Greater Harrisburg Association of REALTORS® and the Pennsylvania Association of REALTORS®. He also served as Treasurer, Vice-President, President, and Past-President of the local REALTORS. In 2001, he was named Outstanding Sales Associate of the Year.

“No one wins awards by themselves. This award goes to my family, my staff, my clients, and all the amazing people who allow me to work with them and for them in real estate,” said Greg Rothman. “I am humbled by the award and will work to be worthy of the honor.”

Past REALTOR of THE YEAR Award winners from RSR REALTOR include: William F. Rothman (1976), Charles F. Schubert, Sr. (1982), and James L. Helsel, Jr. (1985). Samuel Reed won the Outstanding Sales Associate of the Year in 1974 and Garrett H. Rothman was named Outstanding New Sales Associate of the Year in 2005.

Garrett H. Rothman was also ranked in the Top 1% for the second year in a row. He was ranked number 9 out of 1,700 REALTORS in the Greater Harrisburg market in terms of production. Jamie Berrier was ranked in the Top 5% of agents for production.

Julie Trogner, Curt Trogner, and William F. Rothman were awarded the Winner’s Circle awards for top Commercial production.

RSR REALTORS was founded in 1970 and is the Harrisburg area’s most versatile full service real estate company.

New Office Space Listing

2007-05-16T21:51:00.000-07:00

Amazing office space on City Island with the National Sports Hall of Fame and the Harrisburg Senators baseball stadium. RSR has been named exclusive marketing and listing agent for this 63,000 square foot Class A office space. Please view the new website for more information.

ELECTION DAY 2007

2007-05-13T14:34:00.000-07:00

Only 20% of the registered voters will go to the polls on Tuesday, May 15th for the Primary. Your vote will make an even bigger impact this year.

PLEASE VOTE!!!! The polls are open from 7:00 AM to 7:00 PM.

JACKIE ROBINSON DAY

2007-04-15T16:37:00.000-07:00

#42

Today marks the 60th Anniversary of one of the most important events in the 20th Century in America. Jackie Robinson took the field at first base at Ebbets Field with the Brooklyn Dodgers, making baseball truly America's pasttime. The Dodgers are my favorite baseball team and I as an adult baseball player still proudly wear number 42 in honor of the man who did so much more than just bring equality to baseball.

Jackie was a great athlete and a great baseball player. I have had the good fortune to have heard stories first hand of several who played with Jack, including: Duke Snider, Clem Labine, Carl Erskine, Johnny Podres and Preacher Roe.

As a Dodger fan, as a baseball player, as an American...

Thank you Jackie Robinson.

HAPPY EASTER

2007-04-07T17:31:00.000-07:00

"The Sacrifice" by George Herbert

O all who pass by, behold and see;

Man stole the fruit, but I must climb the tree;

The tree of life to all, but only me:

Was ever grief like mine?

Lo, here I hang, charg'd with a world of sin,

The greater world o'th' two; for that came in

By words, but this by sorrow I must win:

Was ever grief like mine?

Such sorrow as, if sinful man could feel,

Or feel his part, he would not cease to knell.

Till all were melted, though he were all steel:

Was ever grief like mine?

But, O my God, my God! why leav'st thou me,

The son, in whom thou dost delight to be?

My God, my God ---

Never was grief liek mine.

Shame tears my soul, my body many a wound;

Sharp nails pierce this, but sharper that confound;

Reproaches, which are free, while I am bound.

Was ever grief like mine?

Now heal thy self, Physician; now come down.

Alas! I did so, when I left my crown

And father's smile for you, to feel his frown:

Was ever grief like mine?

NEW LISTING... 429 Hivner Road, Rolling Ridge

2007-04-07T17:29:00.000-07:00

Great new listing in Swatara Township. Rolling Ridge development off of 50th and Derry Streets. Three bedroom, two story home with 1.5 baths, a level and good size rear yard with a wooden fence, nice wooden rear deck and one car garage. $169,900. Call Greg Rothman at 717-571-3345 for a private showing.

ABC NEWS Channel 27 Story

2007-04-07T17:25:00.000-07:00

Greg Rothman was on Channel 27 (ABC) talking about the residential real estate market. While some segments of the market are slow (over $500,000 and new construction) the $150,000 to $300,000 residential market remains brisk. Interest rates are still very attractive in the 5.75% to 6.25%.

http://www.abc27.com/news/stories/0407/412072.html

ROTHMAN RANKED NUMBER TWO

2007-03-23T20:35:00.000-07:00

The Greater Harrisburg Association of REALTORS had their annual "Winner's Circle" Awards Night at the Harrisburg Hilton and Towers on Friday night, March 23, 2007.

Greg Rothman was ranked NUMBER TWO out of over 1,700 REALTORS in the Central Pennsylvania market. Only John Smith from John Smith Realty in Lebanon was ranked higher. Smith has been ranked number one for the last decade.

2006 was the third year in a row that Rothman was ranked in the Top 1%. Joining him in the Top 1% was his younger brother Garrett, ranked 14 out of 1,700 agents.

Long-time associate, Jamie Berrier was ranked in the Top 5%. RSR agents Bill Rothman, Jim Koury and Julie Trogner were named to the Top Commercial Agent List.

Greg Rothman closed over $25 Million in transactions in 2006 with 134 transactions. He sold $29 Million in 2005 and was ranked number 4.

"Thanks to all the clients and friends who helped RSR and me personally to reach this pinnacle. I hope to continue to be worthy of your confidence and kindness," said Greg Rothman.

CPBJ names RSR NUMBER ONE again...

2007-03-06T08:35:00.000-08:00

RSR REALTORS President/CEO W. Greg Rothman is shown standing on the site of the Capitol View Commerce project.

RSR REALTORS was just named number one on the Central Penn Business Journal's list of commercial real estate companies.

King Mansion

2007-03-06T08:32:00.000-08:00

I have had the great priviledge to sell some of the most beautiful real estate in the Harrisburg area.

Here is the KING MANSION on North Front Street in Harrisburg.

CAPITOL HEIGHTS & GOVERNORS SQUARE

2006-12-03T21:31:00.000-08:00

STRUEVER ROUSE HOMES of Baltimore has selected Greg Rothman and RSR REALTORS to be the exclusive marketing real estate agents for the remaining 48 residential units in Capitol Heights and the 52 residential units in the Townes at Governor's Square.

The following units are available in Capitol Heights immediately:

HOLIDAY SAVINGS…
Homesite #156- The Cameron-1634 North 5th St
3 level, end of group, flat front home featuring: 3 bedrooms (including luxury bath) small front porch, 2 car garage, 10X12 deck, all appliances included!! Too many to list! MOVE IN, ~ 30 DAYS OR LESS… $208,015…$6000 Towards closing!!

Homesite #150-The Cameron-1625 Fulton St.
3 level, end of group, single dormer home featuring: 3 bedrooms, 2-1/2 baths (including luxury bath), large front porch, brick watercourse
$188,727…$4000 towards closing!!

Homesite #153-The Cameron-1640 North 5th St
3 level, end of group, flat front home featuring: 3 bedrooms, (vaulted ceiling) 2-1/2 baths (including luxury bath)brick watercourse
$181,432…$4000 towards closing!!

Homesite #157- The Cameron-1632 North 5th St.
3 level, end of group, single dormer home featuring: 3 bedrooms, 2-1/2 baths ( including luxury bath), small front porch, brick watercourse $185,427…$4000 towards closing!!

Homesite #161- The Cameron-1624 North 5th St.
3 level, end of group, flat front home featuring: 3 bedrooms(vaulted ceilings) 2-1/2 baths(including luxury bath)brick watercourse
$181,432…$4000 towards closing!!

Urban Land Institute Speech

2006-11-29T17:01:00.000-08:00

Greg Rothman served on a panel at the October 24, 2006, Urban Land Institute (ULI) regional conference on land use. The panel was led by Peter Korpacz and Greg spoke on emerging trends in the Central Pennsylvania residential market.

Urban Land Institute: Emerging Trends October 24, 2006

First of all – as a caveat – I am an optimist. If I were falling out of a 20 story building and you asked me on floor ten how I’d be doing, I’d say “so far, so good.” How else do you succeed in real estate? My firm has decided not to participate in the housing bubble bust.

But, I have a news flash for you… based on the number of transactions (7,249) and volume – if the sales currently listed as pending close by the end of the year – likely since there are 67 days left – we will end up in 2006 with the SECOND Best year all time for number of transactions. The same goes nationally.

Look below: 2006 will be the BEST year ever for Average Sale Price and Total Volume.

Year # Of Sales Days Avg. Price Appr. Volume
2000 6,631 89 $123,661 1.0% $820 Mil
2001 7,189 86 $126,294 2.2% $908 Mil
2002 7,265 78 $132,382 4.8% $962 Mil
2003 7,565 59 $142,610 7.7% $1.08 Bil
2004 8,468 51 $156,158 9.5% $1.32 Bil
2005 8,751 47 $169,840 8.8% $1.49 Bil
Q3 2006 7,249* 47 $176,372 5.1% $1.52 Bil

Pending transactions equals 1,351 for a total of 8,600 sales.

2006 Looking Back

Certain segments of the residential market began slowing down at the end of 2005 and the beginning of 2006. However, in Central Pennsylvania and the Harrisburg Market, 2006 has been a steady year. The extraordinary appreciation and quick wind-falls are gone. National builders are pulling back. Higher priced homes are sitting longer. Those who don’t have to buy – are putting on additions and staying put keeping their 5% interest rates in place and getting home equity seconds to pay for the addition.

Empty-Nester Downsizing: Sell the family home of 20+ years and purchase or build a new home – with less space – more efficient (new kitchen, large masterbedroom) for more than the old homested.

2007 Looking Forward

Beginning in January, the Federal Reserve will begin lowering rates again.
The rest of the industry will reassessing the severity of the unfolding downturn. Some are predicting housing price declines of up to 20% and a common perception is that we are in for a multi-year correction. But not necessarily in Central PA.

Those effects include the impact on the job market, on consumer spending via the housing wealth effect, on lending institutions, and on the global financial system as mortgage credit quality weakens.

The unwinding of the long housing boom began in the summer of 2005, when interest rates began to creep up. While the long-term interest rates that govern the costs of fixed-rate mortgages have risen modestly, short-term rates and adjustable mortgage rates have risen substantially more.

The housing downturn has become more dramatic with the departure from the market of the "flipper," the so-called buyers who intend to re-sell their properties quickly at a profit in an environment of rising prices.

David Lereah, NAR’s chief economist, said the housing market is showing signs of life and that sales may be leveling out. “Many potential home buyers who have been taking a wait-and-see attitude or taking their time and being methodical in the search process are being enticed by lower home prices,” he said. “Given a positive economic backdrop of lower interest rates and job creation, we expect sales activity to pick up early next year.”
Existing-home sales are forecast to be fairly stable in the fourth quarter and sales for all of 2006 are expected to drop 8.9 percent to 6.45 million – still the third strongest year after consecutive records in 2004 and 2005. New-home sales are forecast to fall 17.3 percent this year to 1.06 million, the fourth highest year on record. Housing starts should be down 10.9
The 30-year fixed-rate mortgage will probably average 6.5 percent in the fourth quarter but will trend up modestly in 2007.
The unemployment rate should average 4.8 percent in the fourth quarter. Inflation, as measured by the Consumer Price Index, is expected to be 3.4 percent for all of 2006, while growth in the U.S. gross domestic product is forecast at 3.3 percent. Inflation-adjusted disposable personal income is likely to grow 3.4 percent for 2006.

Many of the reasons for today’s real estate slide are obvious: home values got too high, affordability deteriorated and the homebuying public lost confidence. Households and investors are now sitting comfortably and patiently on the sidelines waiting to get back into the real estate game, but only when property prices come down to more suitable levels. The good news is that prices are beginning to soften. Price growth (year over year) turned negative in the West and Northeast regions of the nation during July. Hopefully, this trend can continue for the next several months. With price reductions come gains in home sales. If prices continue to fall, the decline in sales might have bottomed out in July.

LAND to HOUSE RATIO’s have jumped to 30%-35%. In Bethany Beach the land costs $4,000,000 and the improvements $1,000,000 – or 4 to 1. Historically, single family houses were 20-25%, and townhouses 15-20%. We have been seeing 30% for townhouses and 35% for single family lots. Most new sales are package deals, so determining the land prices is sometimes tricky.

2006 is going to be down from last year… the bubble has burst, the boom has busted…and 2006 will be the second best year of all time for number of units sold and total volume and number one in Central PA for average sale price and a chance to be the best year ever for volume.

If you are driving 100 miles an hour and you slow down to 75 – that is a 25% reduction in speed, but you are still going over the speed limit.

Interest rates began climbing in the summer of 2005 – but have started leveling off and even declining in the last few months. Rates will drop below six percent again by mid-January.

GREG’s Predictions:

We will still see 6% to 8% appreciation in residential real estate on resale. Builders will drop profit margins from 18% back to 12%.

Yogi Berra quote “Nobody goes there any more, it’s too crowded.” Record percent of homeowners in Central PA and nationally.

Rothman Appointed to Massachusetts Civic Initiative

2006-11-29T16:54:00.000-08:00

Greg Rothman, (Political Science Class of 1989)was recently named to the Board of Advisors to the University of Massachusetts' Office of the President Donahue Institute's Civic Initiative.

"The future of our democracy is dependent upon Americans doing their civic duty: contributing the the general welfare, becoming informed citizens, voting and participating in the election process, serving in the military and other service organizations. I am proud to be associated with an organization that is promoting civics to America's students."

New Listing... New Website

2006-11-29T16:46:00.000-08:00

I recently listed this amazing home in Upper Allen Township in the Ford Farm Development.... 2820 Myrtle Drive, Mechanicsburg, PA -- check out the website.

Island For Sale

2006-10-30T10:53:00.000-08:00

Greg Rothman just listed the McCormick Island for sale on behalf of the City of Harrisburg. The island consists of 100 acres in the middle of the Susquehanna River.

Ground Breaking at Capitol View Commerce

2006-09-01T13:09:00.000-07:00

Yesterday, Advanced Communications President/CEO David R. Dodd, II, broke ground on the 210,000 square foot printing facility and office complex at 1000 Cameron Street (Cameron & Herr). Check out the website at www.capitolviewcommerce.com

QUOTE OF THE MONTH

2006-08-04T18:18:00.000-07:00

From the Monday, July 31, 2006 Harrisburg Patriot News Business Section

By Dan Miller "The Race for Space"

... But the market still has plenty of opportunities, said, Greg Rothman, president and CEO of RSR Realtors.

"IF YOU ARE DRIVING 100 MILES AN HOUR AND YOU SLOW DOWN TO 75, IT LOOKS LIKE A 25-PERCENT SLOWDOWN, BUT THE REALITY IS YOU ARE STILL GOING OVER THE SPEED LIMIT."

Premier Issue of Broker/Agent Magazine Features RSR

2006-07-30T10:36:00.000-07:00

REALTORS Magazines Profile Greg Rothman

2006-07-29T14:38:00.000-07:00

The July Issue of the Greater Harrisburg and Carlisle Association of REALTORS did a fun profile on me. With my beloved LA Dodgers in last place, my fantasy is truly a fantasy. Hope you enjoy.

Capitol View Commerce Center

2006-07-15T10:44:00.000-07:00

Are you looking for Class A office space in the City of Harrisburg with PARKING and an amazing view of the Capitol Building -- for $13.75 Full Service (landlord pays taxes, insurance, utilities, but not including janitorial) -- check out www.capitolviewcommerce.com

We have nearly 100,000 square feet to lease to you!!!!!

Construction is starting any day now and will be complete by Fall 2007. Pre-leasing rates.

OOPS...

2006-07-15T10:40:00.000-07:00

I have been so busy this Spring and Summer dealing with the "busting bubble" that I haven't posted in months. I am sorry. However, I would like you to know that I'll do better.

The first half of 2006 turned out to be the best HALF YEAR in my company's history -- with over $160,000,000 in closed transactions. We did a total of $339,000,000 last year, so we are on pace to come close.

Personally, I have had my best first half of a year as well.

Interest rates have settled in around the 6.25% to 6.5% range. My thoughts on the market are that for the first time in five years the residential market is in "BALANCE". There are as many buyers as there are sellers. This is a good thing. There is no way Central PA could have continued the "boom" we had been experiencing. We just couldn't build houses fast enough.

Greg

Bad News for the Real Estate Pessimists

2006-03-23T19:13:00.000-08:00

Sales of existing homes unexpectedly rose last month as a warmer than usual winter boosted demand in many parts of the country, but a slack demand in some areas produced what one analyst called a "tale of two cities."

The National Association of Realtors reported Thursday that that sales of existing single-family homes and condomiums rose by 5.2 percent in February to a seasonally adjusted annual rate of 6.91 million units.

Analysts said the weather-related boost was likely to be short-lived with sales expected to slow again in coming months as rising mortgage rates further cool the housing market which has posted record sales levels for five straight years.

"Weather conditions across much of the country were unseasonably mild in January and likely were a factor in higher levels of buyer activity, which boosted sales that closed in February," said David Lereah, chief economist for the Realtors.

The Realtors have been forecasting that sales of previously owned homes would fall by about 5 percent this year compared to last year's record pace. But Lereah said he may have to revise that forecast given the unexpected strength in February.

The price of homes sold in February rose to $209,000 for the nationwide median, the point where half the homes sold for more and half for less. That was 10.6 percent above the median price in February 2006. But analysts are forecasting those double-digit price gains will also moderate this year as demand slackens.

From Breitbart.com

Presidential Appointment

2006-03-21T18:16:00.000-08:00

On Friday, President Bush announced his intention to appoint me to the National Veterans Business Development Corporation. The Veterans Corporation Board of Directors includes Defense Secretary Donald Rumsfeld, Veterans Administration Secretary James Nicholson, and Adminstrator of the Small Business Administration, Hector V. Barreto.

"The National Veterans Business Development Corporation, doing business as The Veterans Corporation, is a Federally-chartered 501(c)(3) organization that was created by Public Law 106-50, the Veterans Entrepreneurship and Small Business Development Act of 1999. This Act recognized that America "has done too little to assist Veterans.in playing a greater role in the economy of the United States". The Corporation is charged with creating and enhancing entrepreneurial business opportunities for Veterans, including Service-Disabled Veterans. The Board of Directors is appointed by the President of the United States and provides governance over TVC." http://www.veteranscorp.org/

I am thrilled and humbled by my appointment. I intend to be worthy of the honor. To be sure, I also intend to continue my full-time work at RSR REALTORS, selling and appraising real estate.

Patriot News Sunday Editorial March 12, 2006

2006-03-13T20:40:00.000-08:00

HARRISBURG’S FUTURE IS LOOKING UP

For over 25 years I have run along the Susquehanna River and as a teenager I would run at night across the Harvey Taylor Bridge inspired by our shining Capitol and Lady Liberty. During this time, I often longed for Front Street to return to its idyllic past of gracious mansions along the tranquil currents of the mighty Susquehanna.

My dream of white picket fences and children playing in the front yards of Front Street is just that. The reality is the Front Street mansions, then and now are only suitable residences for select few or the Governor.

Most mansions have been converted to office buildings. Other structures along Front Street have no architectural or historical value. Raising the height restrictions on Front Street would change the highest and best use to demolition and redevelopment.

Harrisburg City Council is considering a proposal that would raise the height limit to 110-feet along a 12-blocks from Verbeke Street to MaClay Street. The changes should not block the view of the Capitol which reaches 272 foot into the sky.

Already there are a dozen buildings along Front, Second and Third Streets that exceed the height limit proposed. The proposed zone is a full seven blocks north of Forster Street and the Capitol Complex.

Ironically, the State Archive Building, which was built in 1965 to house and preserve our Commonwealth’s history, blocks the view of the Capitol Dome from the north of the City – including, in more irony, the view from Capital Street.

The only building more depressing than Archive Tower is the similarly windowless building on North Second and Pine – looks like it was designed in the Soviet Bloc circa 1975. I am guessing it is even more depressing for those inside than out.

The most notable academic studies into building height restrictions are Alain Bertaud’s report for the World Bank (2003) and MacKinnon Arnott’s (1977) general equilibrium model. Both concluded that height restrictions, for all their aesthetic benefits, increase the cost of housing and real estate, drive development to outer spatial rings and ultimately have a cost to society in areas of congestion and affordable housing.

Land-use decisions are affected by government action in real estate markets. Zoning rules and regulations aspire to minimize externalities by separating different types of uses, as well as greenbelt laws and urban growth boundaries, which limit the spatial expansion of cities.

Governments also exert control over the density of development. While minimum-lot-size rules and other regulations are designed to limit suburban development densities, a much used tool is the building-height restriction and FAR (floor area ratios), which govern development in the central district of cities.

The most obvious examples are Washington, D.C., where no building can be taller than the U.S. Capitol, and Paris, where height restrictions attempt to preserve the character of the central city. Although the use of height restrictions in both of these cities is driven by aesthetic considerations, building-height restrictions may also be imposed in an attempt to achieve other goals.

Washington, DC’s height restrictions, passed by Congress in 1899 enacted a height limit for the District prohibiting private buildings from being higher than the Capitol, which reaches 288 feet above Capitol Hill at the crest of the Statue of Freedom.

It was George Washington who issued the first height restriction on buildings in the Nation’s Capital. The Father of our Country wasn’t trying to protect the Capitol (built in 1793) or his monument (started in 1848 and completed in 1885 – interrupted by the Civil War). He was concerned about architectural design and fire safety.

The modern urban planning professionals and academics now believe that the only appropriate way to develop in constricted urban areas are to build up instead of out. Due to our Commonwealth’s arcane laws against annexation, the redevelopment of the City of Harrisburg will be confined to its 8.1 square miles.

Allowing development to go up will create less expensive residential and commercial real estate opportunities. By driving development out of the cities more farms are lost to sprawl. This spatial enlargement affects consumers both by raising their average commuting distance and by pushing up the housing prices they must pay.

Harrisburg’s tremendous rebirth over the last twenty years is reaching a critical point where demand exceeds supply. As it is said, “buy land, they ain’t making any more of it.” Modern Urban development sees new land in the redevelopment of under utilized building sites by building up – preserving farm land in the suburbs and lessening congestion into the region. The future of Harrisburg is looking up, City Council should continue to look there for inspiration and progress.

W. Greg Rothman is President/CEO of RSR REALTORS® and was a founder of the Harrisburg Young Professionals.

Harrisburg Magazine: "To Buy or Not to Buy"

2006-03-05T16:26:00.000-08:00

Nice piece in Harrisburg Magazine offering advice from REALTORS:

"There are a limited number of properties on the market...However, with historically low interest rates, there has never been a better time to be a buyer.

The City of Harrisburg has been popular for young professionals... Emerging markets (for investment) are the towns of Central Pennsylvania -- places like Steelton, Carlisle and New Cumberland.

Most people want to know what their homes are worth -- and what their neighbors homes are worth."

TIP: "Like everything else, be honest. In a hot market, it is important to be financially, mentally and emotionally ready to buy or sell. If you are just looking or exploring the market, that's fine-- just tell your agent up front."

HOMES IN HARRISBURG WEBSITE

2006-03-04T17:11:00.000-08:00

Visit the updated Greg Rothman real estate website...http://homesinharrisburg.com

Mortgage Rate Slips Lower

2006-03-04T17:07:00.000-08:00

Freddie Mac reported on March 3, 2006, that interest rates on 30-year, fixed-rate mortgages averaged 6.24 percent this week, down from 6.26 percent last week.

The 30-year rate declined for three straight weeks at the beginning of the year, then posted four straight increases, hitting a high for 2006 of 6.28 percent three weeks ago.

Average rates on one-year, adjustable-rate mortgages edged up slightly to 5.34 percent this week, from 5.32 percent last week.

One year ago, 30-year mortgage rates averaged 5.79 percent and one-year ARMS were at 4.41 percent.

New Keller Williams of Central PA franchise opens.

2006-03-01T19:24:00.000-08:00

Congratulations to Patrick Smith, formerly of the Homestead Group and Keith Sealover, formerly of Jack Gaughen ERA, on their new residential real estate franchise of Keller Williams Realty. Keller-Williams Realty already has over twenty offices in Pennsylvania, but none in the Greater Harrisburg Market.

Both Patrick and Keith are outstanding top producers who I finally joined in the Top 1%* of residential agents in the Greater Harrisburg Area last year. Their new office will immediately make a positive impact on the residential market. I have enjoyed working with them in the past and consider them class acts who I admire.

I wish them luck -- though they won't need luck to be successful.

2005 Winner's Circle Top 1% (in alphabetical order) April 1, 2005

Timothy Clouser, REMAX
Timothy Costello, REMAX
Joy L. Daniels, REMAX
Donna Fleetwood, REMAX
Joan E. May, Jack Gaughen ERA
W. Greg Rothman, RSR REALTORS
Keith A. Sealover, Jack Gaughen ERA
Patrick Smith, The Homestead Group
John H. Smith, REMAX
Steve Thompson, Prudential Thompson Wood
James Wise, The Homestead Group

THE NEW LISTING FOR 2006 WILL BE ANNOUNCED ON MARCH 24, 2006. Check back for the upated list on March 25, 2006.

Building Surges in January 2006

2006-03-01T19:10:00.000-08:00

From the news....

Construction of new homes and apartments shot up in January 2006 at the fastest pace in more than thirty (30) years!

The Commerce Department reported yesterday that building activity was up 14.5% when compared to December 2005, pushing construction to a seasonally adjusted annual rate of 2.276 million units nationally.

That was the fastest construction rate since March 1973 and the annual rate of 1.819 million units is the all-time high.

Reminds me of the Yogi Berra quote about the restaurant..."Noboby goes there anymore, it is too crowded." He might remark on this market...

"Nobody is buying real estate anymore, there is nothing for sale."

RSR COMMERCIAL NUMBER ONE!!!!

2006-02-26T11:08:00.000-08:00

According to the Central Penn Business Journal annual "The List" RSR REALTORS has jumped three spots to Number 1 in 2005 $ Volume. The $270.49 million of commercial sales and leases was $35 million more than the number two ranked company (Coldwell Banker-Bennett Williams of York). The companies were ranked based on transactions done in the Central PA region (York -Harrisburg- Lancaster)

For the list:

1 RSR REALTORS (Harrisburg) $270.49 Million
2.Coldwell Banker-Bennett Williams (York-Harrisburg) $225.30 Million
3.Landmark Commercial (Harrisburg) $166.28 Million
4.Rock Commercial (York) $110.52 Million
5. High Associates (Lancaster-Harrisburg)$92.90 Million
6. LMS Commercial (Lancaster) $79.52 Million
7. NAI/Commercial Industrial Brokers (Lancaster) $68.21 Million
8. Penn Partners (Lancaster) $62.15 Million
9. Campbell Realty Group (Harrisburg) $42.36 Million
10. U.S. Commercial Realty (Lancaster) $16 Million

RENT versus OWN ANALYSIS

2006-01-18T02:27:00.000-08:00

With historically low interest rates, homeownership has risen steadily in the last decade. Homeownership is at an all time high of 68% versus a twenty year average of 65%. The issue of home affordability varies greatly across the United States. To this end we can attempt to quantify home affordability in the subject property market and compare it to rental rates.

To determine the housing choice ratio the first step is to examine median home values, median income values, and rents in the metropolitan Harrisburg market. Median mortgages can be quantified and added to property taxes and insurance as well as the tax benefit homeowners derive from interest and property tax deductions. Home affordability can be gauged by calculating qualifying lending ratios and median income levels and median mortgage payments.

The rent vs. own ratio of monthly mortgage payments to apartment rent payments in the market is based on a value of “1”. A value of “1” means the cost of the mortgage equals the cost of the monthly rent. In a national study by LaSalle Investment Management[1] found that the five markets where the gap between rents and median mortgage payments is the widest are as follows: Orange County, CA; Newark, NJ; San Jose, CA; San Francisco, CA; and Middlesex, NJ. The five markets where rents most closely approximate median mortgage payments are: Philadelphia, PA; Atlanta, GA; Houston, TX; Dallas, TX; and Minneapolis, MN.

The median housing value in the Harrisburg MSA is $138,000. The current residential 30 year mortgages are readily available for interest rates of six percent (6.0%). Typical financing for first-time homeowners and/or entry-level mortgages involves an equity requirement of three to five percent, for the purpose of this analysis I will choice equity of 4% and financing of 96%. The mortgage debt service on financing $132,480 over a thirty year amortization at six percent is equal to $790.33 per month. In the subject market real estate taxes are based on market value of the real property. Using a market value of $138,000 and a typical millage rate in the market area of 21 mils, the annual real estate taxes (county, municipal, school and library) are $2,901 or $241.75 per month. The annual insurance cost for a $138,000 residential owner-occupied property is $600.00 or $50.00 per month. The total monthly housing cost (Principle, Interest, Taxes and Insurance) are $1,082. Most American homeowners qualify for deduction of principle, real estate taxes and insurance. Using an amortization schedule the homeowner can expect to pay an average of $7,900 in principle each year in addition to the taxes and insurance. Using the annual taxes of $2,901 and the annual insurance of $600 the annual amount that may be deducted for household expenses is $11,401. Using a combined tax rate of 25%, the net tax savings benefit to the homeowner is $2,850 annually or $237 per month. As a result the net housing expense for the median homeowner is $845 per month.
[1] Home Ownership and the Impact on Apartment Demand, by Todd A. Canter and Ben Lentz 2002.

Harrisburg University Update

2006-01-12T20:13:00.000-08:00

Check out this month's newsletter from the Harrisburg University of Science and Technology.

2005 Residential Appreciation....

2006-01-05T19:49:00.000-08:00

8.8%

It appears a slow last quarter knocked our residential appreciation numbers down below 2004 (9.5%). I had predicted double-digits. I was wrong! Thanks to the Fed raising short-term interest rates 10 straight times and the continual drum-beat of the coming bust to our housing boom. Can you say "self-fulfilling prophecy" ????

RSR YEAR IN REVIEW

2006-01-04T18:50:00.000-08:00

2005 YEAR in REVIEW

HIGHLIGHTS:

Sold and leased over $338 million in real estate transactions, a sixty-five percent (65%) increase from 2004’s record $220 million. We completed over 450 transactions in 2005.

The appraisal division, RSR Appraisers & Analysts completed over 220 commercial appraisal assignments and over 350 residential appraisal reports and reviews.

RSR Appraisers and Analysts acquired L.G. Connor Appraisers, ranked #5 on the Central Penn Business Journal’s Book of Lists of Commercial Real Estate Appraisers. L.G. Connor was founded in 1957 and has been led by Karen Darney for the last ten years. Darney and Pam Rittenbauch will join RSR as General Certified Appraisers.

RSR Appraisers and Analysts were ranked #1 Commercial Appraisal Company again, this makes every year since the CPBJ began ranking appraisers in 1997.

Named by the Central Penn Business Journal “Fifty Fastest Growing Companies” in the region (#28), after being #33 in 2004.

We now represent four of the finest homebuilders in the area:

Classic Communities, Inc. Silver Creek of Hampden
Fine Line Homes Hearthside Manor
Haubert Homes Creekstone Manor
McNaughton Homes Deer Path Woods
OM Management Houses at Oakhurst

DEALS OF INTEREST:

Listed and sold Pennsboro Commons Shopping Center to Cedar Shopping Centers for $17,750,000. The shopping center consisted of 110,000 square feet with a 66,000 square foot Giant Food Store as the anchor.

Listed and sold 24.5 acres approved for 176 residential units in Hampden Township, to Classic Communities, Inc. for $2,500,000.

Listed and sold 1854 Brookwood Street, Harrisburg, a facility leased to the Commonwealth of Pennsylvania for $6,000,000.

Sold 38 residential townhouse rental units at Stanford Court in Hampden Township to Cumberland Valley Real Estate, LLC for $4,000,000.

Listed 4775 Linglestown Road, Lower Paxton Township that sold to Touchdown Flannery, consisted of two office buildings with approximately 24,000 square feet for $2,550,000.

Sold a 8,000 square foot office condominium in Saratoga Office Center for $500,000 to Classic Communities, Inc. for use as their offices.

Listed and sold 4800 Linglestown Road, Lower Paxton Township, that sold to Kusic Capital, consisting of 40,000 square feet of office space for $2,500,000.

Listed and sold 3.5 acres of residential land to be developed with 14 units at the Woods of Waterford in Wormleysburg, representing the seller and the buyer Classic Communities, Inc. for $555,000.

Sold 70 acres along the Carlisle Pike in Silver Spring Township to Bobby Rahal & Ferris Development for $3,500,000.

Sold the Hoover Plaza in Lemoyne Borough, a 50,000 square foot retail strip center to State College Premier Rentals for $2,100,000.

Sold 553 Bridgeview Drive in Bridgeport Condominium in Lemoyne Borough for $1,200,000.

Listed and Sold the Cliffdale Office Center on Cedar Cliff Drive, New Cumberland for $1,201,000.

Sold ten townhouses to be built on Shady Lane in Enola to Pin Kuo to be built by Haubert Homes for $1,235,000.

Greater Harrisburg Association of REALTORS® WINNER’S CIRCLE

Commercial
Top 1% William Rothman
Jim Koury
Al Simokat
Residential
Top 1% Greg Rothman
Top 10% Garrett Rothman
Top 20% Jennifer Kerr

AWARDS:

Agent of the Year Jim Koury
Commercial Agent of the Year Julie Trogner
Residential Agent of the Year Garrett Rothman
Platinum Club for Production Gordy Banzoff
Jamie Berrier
Keith Sultzbaugh

Partner James Helsel served as a Board Member and member of the Finance and Executive Committees of the National Association of REALTORS®.

Greg Rothman graduated top in his class from Johns Hopkins University with a Masters of Science in Real Estate with a 3.96 GPA. He received an award from the Maryland Chapter of the Appraisal Institute for best thesis.

Jamie Berrier was elected to the Board of Directors of the Greater Harrisburg Association of REALTORS.

Greg Rothman was appointed Vice-Chairman of the Cumberland County Economic Development Corporation and was appointed by the Cumberland County Commissioners to a three year term on the Cumberland County Industrial Development Authority where he was elected Secretary.

Greg Rothman is serving on the Board of Directors of the United Way of the Capital Region.

Partner William F. Rothman served on the Board of Advisors to Shippensburg University’s Grove School of Business.

Garrett Rothman, Esquire was named to the Board of Directors of the Harrisburg Young Professionals.

Garrett Rothman served on the Harrisburg Area Community College Multi-Cultural Advisory Committee and Channels, a non-profit food distribution agency.

Jackie Eakin served as President of the Investment Commercial Industrial Council of the Greater Harrisburg Association of REALTORS®.

New Additions:

Nicholas Paul Berrier, born February 22, 2005, son of Shawn and Jamie Berrier.
Chloe Mills Herbert, born to Melissa and Grant Herbert on April 13, 2005.

FHA Changes

2006-01-03T18:33:00.000-08:00

Effective December 19, 2005, FHA will no longer require automatic repair on minor property conditions including, but not limited to:

1. Missing handrails
2. Cracked or damaged exit doors that are otherwise operable
3. Cracked window glass
4. Defective paint surfaces in homes constructed after 1978.
5. Minor plumbing leaks (like leaky faucets)
6. Defective floor finish or covering
7. Trip hazards (cracked or partially heaving sidewalks)

FHA will no longer automatically require an inspection for the following:

1. Wood destroying insect inspection.
2. Well water test.
3. Septic test or inspection.
4. Flat roof or unobservable roof.

Thank you to Carolyn Albright at GMAC (717-975-8012) for this update.

Milton Hershey Book hits stores tomorrow...

2006-01-02T17:14:00.000-08:00

Joel Berg of the Patriot News called me the other day to get my take on the new book by Michael D'Antonio on Milton S. Hershey. I wrote a 4,000 word biography on Mr. Hershey in the Winter 1996/1997 issue of Cigar Aficionado.

I received an advance copy this morning and have been speed-reading for a review. The author is a Pulitzer Price winner who has authored five other books. The book clearly reveals "new" stories about Milton Hershey gleened from secondary sources and the Hershey Archives.

However, the book is like the crazy custom I recently read about in Dillsburg. A local candy shop sells chocolate covered pickels on New Year's Eve. The indepth research of Milton Hershey is the chocolate on the outside. Revelations about Hershey's gambling; his wife's affliction with syphilis; references to drinking alcohol during Prohibition; and Milton's missing out on the premiere of The Birth of a Nation; are the sour, center of the pickle.

Maybe I haven't read enough, but I didn't find many references to Milton's habit of smoking 8 to 10 cigars a day. He also wasn't that tall, perhaps illiterate, and from a broken home. Worst of all... he failed in business in Lancaster, Philadelphia, Denver, New York, Colorado.

I guess smut sells, but D'Antonio should know something about Central Pennsylvania and our relationship with Milton Hershey. We could care less about the warts. None of us are perfect. Milton Hershey's legacy is seen in the town, the company, and the school.

The world needs more Milton S. Hershey's...warts and all.

HAPPY NEW YEAR!!!!

2006-01-01T11:39:00.000-08:00

Happy New Year. Last night the City of Harrisburg and Mayor Steve Reed outdid themselves with a fantastic firework display after the strawberry dropped on Market Square. I could have sworn I was in San Francisco, Boston, Washington or New York City.

2005 was a record year for Harrisburg Real Estate, RSR REALTORS and me personally. I sold and settled on $30,000,000 in transactions. In 2004, I sold and settled $22,000,000. And in the last five years I have sold a total of $100,000,000.

RSR sold nearly $300,000,000, up from $220,000,000 in 2004. We had our best year in the appraisal division as well with over 210 assignments completed.

The other highlights of 2005:

I graduated from Johns Hopkins University with a Masters of Science in Real Estate.

The Cumberland County Commissioners appointed me to the County's Industrial Development Authority and Economic Development Corporation.

My largest deal was the sale of 38 townhouses in Stanford Court, Hampden Township for $4,000,000.

I am excited about the market for 2006. Don't believe the doomsayers, pessimistics and bubble-bursters.

I am proud of my fellow Marines who are in harm's way in Iraq. I pray for them and their station in life should put all our troubles in perspective.

My son, Niko, made the varsity soccer team at Cumberland Valley as a freshman. He scored two goals, had two assists, and made me proud. My highlight of the season might have been the pass he made to set up the winning goal in overtime during the first game of the season against Erie Prep: or his goal and assist against Red Land; or his game-winning goal against Cedar Cliff in the rain. The highlight was after the Chambersburg game when I asked him about spending the entire game warming up, but not getting in he replied..."I had the best seat in the house." Good kid.

Congratulations to Joe Paterno, who like the real estate market, defied the naysayers.

My New Year's resolution is to post to my blog on a daily basis during the week. So far, one day down and 364 to go.

My "Man of the Year" is my little brother Garrett. He would have been MOY in 1971 also, but I didn't award it then. Garrett graduated from Penn State, spent three years in Poland with the Peace Corps, went to Catholic University for Law School, clerked for a judge in Washington, moved back to Harrisburg and joined McNees Wallace and Nurick as a legal associate.

During a jog over Thanksgiving two years ago, he told me he wanted to stop being a lawyer and come sell real estate at RSR. I was skeptical since he had a family and I made a whopping $8,000 my first year in real estate.

He ignored my discouragements and began selling real estate in January 2004. In 2004, he was RSR's Rookie of the Year and named Outstanding New Associate for the Greater Harrisburg Association of REALTORS. In 2005, he was RSR's Top Residential Agent.

It has been a dream come true to work with my father for the last 16 years. Imagine how lucky I am to work with my little brother as well.

I wish you all the most prosperous and healthy 2006. Keep coming to my blog.

Merry Christmas

2005-12-24T14:48:00.000-08:00

From my family to yours.... Merry Christmas 2005.

Happy Thanksgiving

2005-11-23T18:42:00.000-08:00

We live in the most bountiful and wealthiest nation in the world. Even when times are tough, we still have the best systems in place to assist those out of work or without food and shelter.

More than anything else, America is great because we were founded on the fundamental love of freedom. As our brave men and women are in harm's way in Iraq and Afghanistan, remember freedom isn't free.

The first Thanksgiving was a celebration of the harvest and gratitude for the blessings bestowed on the Pilgrims. I have so much to be thankful for again this year.

May you continue to have much to be thankful for at Thanksgiving. God Bless America.

Greg

Re-elect Harrisburg Mayor Stephen R. Reed

2005-11-06T16:48:00.000-08:00

The Harrisburg Patriot News had a nice profile on Harrisburg Mayor Stephen R. Reed in today's paper. On Tuesday, don't forget to vote. While he is unopposed for re-election there is a contested race for City Council. I am supporting Otto Banks and Linda Thompson for re-election. Click here to read Mayor Reed's biography.

One of my heroes died yesterday....

2005-10-25T06:14:00.000-07:00

She was just over 5' tall and yet a giant in the history of the United States. Fifty years ago, she refused to give up her seat on a bus. She said her feet hurt, but it was her heart that helped her make that stand.

She was a seamstress, like Jesus was a carpenter. Mrs. Parks, an active member of the local chapter of the National Association for the Advancement of Colored People, was riding on a city bus December 1, 1955, when a white man demanded her seat.

She refused, despite laws requiring blacks to yield their seats to whites. Two black Montgomery women had been arrested earlier that year on the same charge, but Mrs. Parks was jailed. She also was fined $14.

Rosa Parks' courage led to the Montgomery Bus Boycott a year later, which introduced the world to a young Baptist Minister named Martin Luther King, Jr.

The rest is history. I'm certain God has given Rosa a special seat in Heaven.

Cumberland County Housing Demand

2005-10-16T22:34:00.000-07:00

Are you interested in knowing how many new homes we need in Cumberland County in the next five years? Consider this....According to the United States Census Bureau estimates, the population in Cumberland County is estimated to grow by 1.7% per year or approximately 3,600 people annually. As of the 2000 Census, there were 83,015 households in Cumberland County. The number of people per household is 2.41. The number of owner-occupied households is 60,645, or 73.1%. The number of renter-occupied households is 22,370, or 26.7%.

If the population grows by 3,600 people per year, the number of total households needed to meet the demand is approximately 1,494 per year, or 7,470 over the next five years. Using the ratio of owner occupied to rentals of 73.1% to 26.7%, the demand for new owner-occupied homes in Cumberland County annually is approximately 1,092 or 5,460 over the next five years.

And now from the Optimists at CNN...

2005-10-13T23:59:00.000-07:00

Let's look at each of CNN's examples and see what factors created the bust:

Austin....Tax Reform Act of 1986 and Tax Hike of 1989.

Denver.... Tax Reform Act of 1986

Detriot.... American Automobile Industry slide of the early 1980's.

Honolulu...I don't know about this, but I which I had bought real estate in Hawaii in 1994. The average price today is probably twice this much.

Los Angeles...Earthquakes, riot, urban issues.

New Orleans... Tax Reform Act of 1986, urban issues.

New York... 1990 Recession

Peoria... ??????

Phoenix.... I wish I had bought every house available in Phoenix in 1987, I would be able to pay someone else to blog for me.

San Francisco... by 1990 the prices in San Francisco had gone up so high, that they had to come down. However, had I bought at 1990 prices, I'd have made a mint in the last four years.

Peoria is the only market without explanation. I just don't know enough about it. But it seems as if the media optimists want to scare the country into a real estate bust.

Legendary Real Estate Trainer Tom Hopkins in Harrisburg

2005-10-04T21:12:00.000-07:00

Tom Hopkins is the best-selling author of How to Master the Art of Selling Real Estate, and one of the most famous real estate agents of all time. He was the first real estate agent to make $1,000,000 in commission sales (his average sale price was only $17,500) in the early 1970's.

I began listening to his tapes in 1989, during my first summer of real estate. I didn't own a cassette player at my apartment, so I would sit in my car and listen to them there.

I had the honor of introducing Tom today in Harrisburg as he spoke to 500 sales people. His teachings and training are timeless.

Thanks Tom Hopkins.

What Harrisburg Needs.....

2005-09-29T21:35:00.000-07:00

No, we don't need $1 Million condominiums like Mary K. is proposing.... what we need are cool, hip, lofty condominiums like these.... check out the websites.

www.avenuelofts.com

www.foundrylofts.com

www.sunsetandvine.com

Thanks to Lou Colon for the Florida tips and Scott Hagopian for the Hollywood tip.

Cumberland Valley School District

2005-09-29T21:19:00.000-07:00

Elementary School Totals..........................3,306 students

Middle School Totals..................................1,920 students

High School Total........................................2,557 students

Total Students in 2005..............................7,783 students

I must have a good reason for telling you this.... stay tuned.

Meet Jamie Berrier

2005-09-28T21:15:00.000-07:00

Jamie Berrier serves as Residential Manager and is one of the Top Residential Agents at RSR REALTORS. She began her career in real estate as personal assistant to Greg Rothman in 1996.

"Jamie was a vital key to my success as an agent and is now a key to the success of RSR REALTORS." Said, Greg Rothman. "She has all the tools needed to be a successful real estate agent. There is no surprise she's been successful. She has a sense of urgency and cares about her clients. Real estate is her life."

She is a graduate of Penn State University with a degree in Information Technology. She was "Residential Agent of the Year in 2004" for RSR.

She represents McNaughton Homes in the Carriage Homes Development and Classic Communities, Inc. in Silver Creek. Check out her website for more information.

Article Review

2005-09-28T20:55:00.000-07:00

Data Analysis Technology and Appraisal Fraud
George Dell, MAI, SRA, The Appraisal Journal, July 2002

Though this article was published more than three years ago, it remains timely and important to anyone interested in the appraisal industry. Real estate appraisal fraud continues to be a cancer on our industry. Thousands of consumers are suffering from the effects of appraisal fraud in the Pocono Resort areas of Pennsylvania. Dozens have been indicted. Fraud hurts lenders, real estate brokers, the consumer and the reputation of all appraisers. Advances in technology intended to improve the quality and efficiency of the appraisal work has made manipulation and fraud easier.

The residential sales boom and re-finance bonanza brought about by low interest rates have created a boom in the appraisal industry. Lenders and borroIrs alike demand a quick turnaround of the appraisal and have little tolerance for appraisals that “don’t hit the right number.” Therefore, the appraiser is often new to the business and has not been properly trained. Furthermore, the new appraiser is more likely to succumb to pressures from their client to raise values to make refinancing easier.

Mr. Dell provides an interesting look into the evolution of data collection of comparable sales. Prior to the rise of technology and availability of data, appraisers “nurtured, developed, and refined” comparable sales data and market analysis information. The sales data was often considered proprietary and the appraisers guarded and protected the data as if it Ire their stock in trade.

The article points out that paradoxically the conciseness of the form reports is also its Iakness. “It is easier to place inaccurate information in a box, or to just leave the box empty.” Perhaps the guilty appraiser considers the offense less egregious because it requires only misplacing an “x” in the wrong box. As the author puts it, “Each box is similar in size; therefore, they appear to be similar in importance, making the “box” mentality a convenient tool for deception.”

There are a number of ways appraisal fraud can take place in the production of the appraisal report. Misinformation or fraud can occur by “commission” or “omission.”
Commission is fraud by making statements that are untrue. Omission is fraud by leaving out or failing to make statements that due to the silence create an inaccurate picture. Fraud by commission would be an appraiser reporting that a property has more bedrooms than it actually has. Fraud by omission would be an appraiser failing to note that the property was next door to a seIr plant.

Another mode of misrepresentation is “generalization.” Generalization is information that would be accurate for most properties in the area but does not pertain to the subject property. Not stating adverse characteristics of the subject property is also a common falsification, according to the article. Failing to use the most applicable and available comparable sales in an appraisal report in order to chose comparable sales that increase or loIr the actual value of the subject is another common fraudulent activity.

The author discusses an interesting concept about the number of comparable sales that are used in an appraisal report. The Uniform Residential Appraisal Report only has room for three main comparable sales, with the ability to add additional comparable sales in an addendum. The concept of using three or four comparable sales was conceived when the ability to obtain accurate sales data was limited. With the multi-lists, internet and high-technology, dozens of comparable sales are available literally at the appraiser’s fingertips.

The Uniform Standards of Professional Appraisal Practice (USPAP) requires that the appraiser “collect, verify, and analyze all information applicable” and “must analyze such comparable sales data as are available.” The author suggests that today’s appraiser should insert a tabular chart of all the comparable sales in the subject’s market area. From this list the appraiser can choose three comparables to use in the report, but the table remains a part of the report to show the reader or revieIr the range in value and the comparables that Ire not used in the report. This is an excellent idea that would make fraud more difficult in the residential form report and the narrative reports.

The article also discusses fraud through externalities. The appraiser can commit fraud by ignoring the economic or political influences that can affect the value of the subject property.

The author suggests using graphics and numerics in the report to help mitigate possible fraud. He writes, “Statistics can be misleading, but not as misleading as words.” Using more data and statistics illustrates the range in data, the mean, mode, standard deviation and variances that make fraud more difficult.

The article offers several recommendations to protect the industry against fraud. He suggests that fraud would be more difficult to commit if the appraiser was required to report (even in summary form) all the data not just the convenient parts. Appraisal professionals must be proactive in the use of technology to improve our work product. He states that, “Our clients and intended users must be educated from within the appraisal report. We cannot expect our clients to demand improvement.” A good appraiser should make their clients aware of technology, not the other way around.

Dell makes the strong case that by increasing the data included in the report appraisal review would be easier, cases of fraud would be easier to prosecute and easier to prove. Ultimately, fraud would be harder to commit and the consumer and the public would be better served.

RSR REALTORS named #28 by Central Penn Business Journal

2005-09-28T20:48:00.000-07:00

Yesterday, the Central Penn Business Journal announced and honored the top fifty businesses that have made significant contributions to the growth, strength and success of the Central PA region. The ninth annual Top Fifty Fastest Growing Companies awards breakfast was held at the Hilton Harrisburg. “RSR REALTORS” is proud to announce its rank of number “28” on this year’s list.

Harrisburg Makes List of Top 100 Places to Live

2005-09-26T22:58:00.000-07:00

The Harrisburg and York areas are good places to raise a family, according to national non-profit America's Promise. The organization, headed up by Colin Powell, has announced the results of its first annual 100 Best Communities for Young People competition. The communities on the list, ranging from large cities to tiny towns, were deemed to provide good support for kids from birth to higher education. The communities were not ranked.

Congratulations to York and Harrisburg for making the list.

Thank you to Julia Taylor of the Central Penn Business Journal for this story.

Don Cunningham for Executive in Lehigh County

2005-09-26T22:45:00.000-07:00

Don Cunningham, former Mayor of Bethlehem and Secretary of the Department of General Service is a rising star in Pennsylvania Politics. He directed the cost-saving programs at DGS and has returned home to Lehigh County to run for County Executive. Please join Governor Ed Rendell and the host committee in honoring him on Tuesday, September 27th, at 5:00 pm at the Red Door (110 North Second Street, Harrisburg). The recommended contribution is $500.00. Checks should be made to: Friends of Don Cunningham Committee. To learn more about Secretary Cunningham, check out his website. I expect he'll be Governor of Pennsylvania someday.

Donald T. Cunningham, Jr. was confirmed by the Pennsylvania State Senate on February 11, 2003 as Secretary of the Department of General Services (DGS), which oversees the core business operations of state government and manages nearly $4 billion in annual spending.

Cunningham was nominated by Governor Edward G. Rendell because of his experience with managing large government operations during difficult financial times and improving the quality of services while reducing the cost of operations. He played a central role in the Rendell Administration's effort to improve the management and productivity of state government, leading the effort to reduce $250 million in spending by streamlining government and introducing modern business management practices.

Prior to his appointment, Cunningham was Mayor of Bethlehem, Pennsylvania, the state's seventh-largest city, from 1998 to February 2003. In a city hit hard by the decline of Bethlehem Steel Corp. and the loss of 20,000 steel manufacturing jobs and a substantial portion of its tax base, Cunningham guided more than $1 billion of new development and the creation of 2,500 new jobs into the city during his tenure as mayor. He received national recognition for his work in economic development and urban revitalization for leading an economic renaissance and transforming Bethlehem into a New Economy city.

In addition to his work in economic development, Cunningham proposed five city budgets with only one small (5½ %) tax increase and developed new and innovative programs to improve public safety and the delivery of neighborhood services. He was recognized for his innovations in the delivery of local government services by both the U.S. Conference of Mayors (1999) and former Governor Tom Ridge (2001). The Democratic Leadership Council named Cunningham one of the top ten state and local "rising stars" in the Democratic Party in 2000.

His service-driven approach to government, emphasizing fiscal austerity and aggressive economic development, led to his election by his peers in 2002 as the president of the Pennsylvania League of Cities and Municipalities. Cunningham was the youngest mayor elected in the history of Bethlehem (1997) and the first mayor reelected (2001) with no opposition in the primary and general elections.

While in office, Cunningham spearheaded the redevelopment of the former Bethlehem Steel manufacturing lands, one of the largest urban brownfield renewal projects in the United States.

Before his term as mayor, Cunningham served for two years as a member of Bethlehem City Council. He also worked in the private sector where he served as Senior Information Specialist at Pennsylvania Power and Light Co. in Allentown and Media Relations Director at Moravian College in Bethlehem. Cunningham started his career as a newspaper reporter working for the former Bethlehem Globe Times and as a suburban correspondent with the Philadelphia Inquirer.

While in state government as Secretary of DGS, Cunningham served on the State Public School Building Authority and Pennsylvania Higher Educational Facilities Authority, as well as the Board of PENNVEST, the Capitol Preservation Committee, the Governor's Homeland Security Advisory Council and the Agricultural Land Preservation Interagency Committee.

Cunningham is a native of Bethlehem, Pennsylvania and was educated entirely in Pennsylvania schools. He graduated from Shippensburg University with a Bachelor of Arts in Journalism and earned a Master of Arts in Political Science from Villanova University.

Cunningham resides in West Bethlehem, the Lehigh County portion of the City, where five generations of the Cunningham Family have lived in the same neighborhood. He is married to the former Laura Allen. His children, Bridget, Shane, and Brendan, attend Bethlehem Area public schools.

City Council to vote on Mary K's Demolition

2005-09-26T22:38:00.000-07:00

Important Notice!
The Harrisburg City Council will meet

consideration of
the proposed development of
2900 block of North Front Street

The meeting will be held on
Tuesday, September 27, 2005
at 6:00 P.M.
City Council Chambers
King Government Center
10 North Second Street

My take on Sprawl....

2005-09-26T22:33:00.000-07:00

What is sprawl? Loss of Open Space? Traffic congestion? Malls? Loss of farm land? Isn’t it really low-density, single-use development? Malls in one place, employment centers in another place and living somewhere else.

Is sprawl the pejorative term for suburbia?

The Industrial Revolution brought people from the country to the cities. The history of zoning. We too often think of the Village of Euclid vs. Ambler Realty (Ohio in 1926). In fact, zoning began in 1916, with “Bolton’s Plea” from developers.

The city grew and then wars came. After WWI there wasn’t enough work and prosperity for homeownership to grow.

However, the suburbs boomed, when the troops came home from World War II, the GI Bill and VA financing, expanded and was subsidized by the National Defense Highway System that literally drove the population out of the cities.

Some statistics:

From 2000 to 2010, 24.5 million more Americans will need housing. During the same time, 17 million more workers will commute to and from their jobs.

Here are my solutions:

Efficient use of land resources: high-density and mixed use. Transfer of Development Rights.

Full Use of Urban Services – Back to the City Movements are followed by back to the small town: Carnegie in Pittsburgh, Steelton in Harrisburg, and Bethlehem in Lehigh Valley.

Mixed Use – New Urbanism, mixed social-economic uses and prices.

Transportation… high gas prices, soaring parking rate costs in the city and traffic congestion. We need new modes of transportation. Public transportation must be more convenient, faster and cheaper than driving alone in your car.

Changing outdated zoning and planning to integrate not segregate uses. Bolton’s Plea is replaced by the Commuters Plea.

1031 Like-Kind Exchange

2005-09-23T22:00:00.000-07:00

A 1031 Exchange (Tax-Deferred Exchange) Is One Of The Most Powerful Tax Deferral Strategies Remaining Available For Taxpayers. Anyone involved with advising or counseling real estate investors should know about tax-deferred exchanges, including Realtors, lawyers, accountants, financial planners, tax advisors, escrow and closing agents, and lenders. Taxpayers should never have to pay income taxes on the sale of property if they intend to reinvest the proceeds in similar or like-kind property.The Advantage of a 1031 Exchange is the ability of a taxpayer to sell income, investment or business property and replace with like-kind replacement property without having to pay federal income taxes on the transaction.

A sale of property and subsequent purchase of a replacement property doesn't work, there must be an Exchange. Section 1031 of the Internal Revenue Code is the basis for tax-deferred exchanges. The IRS issued "safe-harbor" Regulations in 1991 which established approved procedures for exchanges under Code Section 1031. Prior to the issuance of these Regulations, exchanges were subject to challenge under examination on a variety of issues. With the issuance of the 1991 Regulations, tax-deferred exchanges became easier, affordable and safer than ever before.

Great new listing...CV Schools and Apartment

2005-09-23T21:49:00.000-07:00

$369,900 Single family home in Hampden Township plus three car garage and seperate apartment that can generate $600 per month in rent.

50 Oak Avenue, Camp Hill, PA 17011

Land Statistics that NIMBY's won't tell you!

2005-09-23T21:42:00.000-07:00

There are 2.3 Billion acres of land in the United States of America.

There are 1.9 Billion acres of land in the lower 48 states (not including Alaska or Hawaii)

There are 103 Million acres of land in California alone.

75% of Americans live in 3% of the land. I repeat, 75% of Americans live in 3% of the land.

66 Million acres in the United States are considered "developed" with 75% of the people.

80 Million acres in the United States are planted in corn. (USDA)

75 Million acres in the United States are planted in soybeans. (USDA)

City of Harrisburg Aerial Photograph

2005-09-19T21:53:00.000-07:00

Condominiums for Sale....

2005-09-18T19:38:00.000-07:00

There is a three bedroom, two and a half bathroom 3,046 square feet condominium currently for sale in Waterford (with a spectacular view of the Harrisburg Skyline) for $419,900.

I know of three investors who each lost over $1,000,000 in the Waterford Condominium project. The original developers shared Mary K's vision for opulence. They thought Central PA buyers would gladly pay $300,000 for their condominiums in the late 1980's.

In the last 16 years, only a dozen homes have sold for over $1,00,000, ANYWHERE in Central Pennsylvania. Mary K's project will not work at $1,000,000 for residential condominiums. However, with all the parking she is proposing, an office condominium might work.... hmmmm.

I also have a vision of Front Street someday returning to it's history of gracious residential homes. It is sad that three beautiful mansions have to be torn down to build condominiums when there are at least three other potential sites for a similar project in the city.

1301 North Front Street (Front and Verbeke, owned by the Vartan Estate, for sale for $1,500,000).
204-210 North Second Street (disclaimer, I am one of the owners of this site).
555 Walnut Street (15 floors of air rights available to be developed with condominiums).

Central Pennsylvania Statistics

2005-09-18T08:44:00.000-07:00

Year Units Sold Avg. Price Market Days Properties For Sale Appreciation

1995 5,289 $109,501 87 3,294 4%
1996 5,518 $113,949 90 3,154 4%
1997 5,560 $114,332 89 3,554 0%
1998 6,420 $119,850 91 3,290 5%
1999 6,482 $122,650 88 3,122 2.3%
2000 6,331 $123,661 89 3,200 1%
2001 7,189 $126,294 86 2,969 2.2%
2002 7,265 $132,382 78 2,366 5%
2003 7,565 $142,610 55 1,950 8%
2004 8,468 $156,158 50 1,883 9.5%

Take notice to the total number of units sold and the decreasing number of days a property is on the market. In a decade the time of the market has dropped from 87 days to 50 days. The "properties for sale" column is the average number of properties on the market at any given time during the year. The trends are clear... increasing demand, decreasing supply, increasing appreciation like Central Pennsylvania has never experienced.

In January of 2005, I predicted the trends would continue and that we would see double-digit appreciation in the residential market. I'll have the year-to-date 2005 statistics for you in the next couple of days. Want to guess what the average sale price and days on the market has been in 2005? The winner gets a $25.00 gift certificate to LOLA'S DAY SPA.

Welcome to my real estate blog....

2005-09-10T22:46:00.000-07:00

Thank you for visiting my real estate web log (aka "blog"). I am a native of Harrisburg, Pennsylvania and the President/CEO and Broker of Record at RSR REALTORS. I am a 1985 graduate of Cumberland Valley High School. I received a Bachelor of Arts in Political Science from the University of Massachusetts, Amherst in 1989. I have a Master of Science in Real Estate Degree from Johns Hopkins University.

Since 1989, I have been involved in virtually every facet of the real estate business. I am ranked in the Top 1% of all residential agents in the Greater Harrisburg Area. Only 7 agents out of 1,500 sold more homes than I did in 2004.

I also have done numerous commercial, investment and office real estate deals including the $6.1 Million sale of 901 North Seventh Street on behalf of the City of Harrisburg in November 2004.

I am a State Certified General Appraiser and was one of the founders of RSR Appraisers & Analysts.

Please come back and visit my blog for interesting information about the Central Pennsylvania real estate market and local information. If you have any questions please post them.

Thanks again. Take Chances.

Fight the Brain Drain and Have Fun....

2005-09-10T22:37:00.000-07:00

ImPAct Conference comes to Harrisburg!

I had the honor of serving as Conference Chairman of the 2nd Annual ImPAct Pennsylvania Young Professionals Convention in Harrisburg in 2001. The conference is back to Harrisburg this year and worth attending if you are interested in "brain drain", economic development, and young professional organizations. It is also a great opportunity to network and socialize with like-minded young professionals from around the Commonwealth of Pennsylvania.

My Best of Harrisburg List

2005-09-10T21:49:00.000-07:00

Best Restauranteur.................Rick Galiardo and Donnie Brown
Best Spa.................................... Lola's on Third Street
Best Coffeehouse..................... Cornerstone Coffeehouse
Best Bike Shop......................... Holmes Cycling and Fitness
Best Political Columnist.......... Peter DeCoursey (Capitol Wire)
Best Lawyer (Technology).... Eric Morrison (McNees Wallace & Nurick)
Best Lawyer (All things)........Andrew Giorgione (Klett Rooney)
Best Lawyer (Regulatory).... Mark Stewart (Wolf Block)
Best Lawyer (Corporate)...... James Ellison (Rhoads & Sinon)
Best Lawyer (Real Estate).... Michael Pykosh
Best Lawyer (Family Law)... Lee Smigel
Best Lawyer (Criminal)......... Scott Foulkrod
Best Prosecutor...................... Fran Chardo
Best Accountant..................... Donald Burgard (Smoker Smith)
Best Men's Clothing............... Michael Boyd's (Sam Boyd)
Best TV Anchor...................... Kirsten Page and Dennis Owens
Best Politician......................... Mayor Stephen R. Reed
Best "Go To" Guy.................. Fred Clark
Best Public Relations............. David LaTorre
Best Businessman.................. Dan Schwab (D & H)
Best Businesswoman............. Jessica Meyers (Reynolds)
Best Leader............................ Brad Jones (Harristown)
Best Patriot Columnist.......... Pat Carroll and Sara Bozich
Best Patriot Reporter............ I love them all... Ellen Lyon, John Luciew, Jack Sherzer
Best Business Reporter......... Julia Taylor (Central Penn Business Journal)

KELO and Congress....

2005-09-09T15:55:00.000-07:00

http://www.valuationreview.com/pub/news/headlines/4143-1.html

Out with Sara...

2005-09-09T10:42:00.000-07:00

You can read Sara Bozich's latest column on what's happening in Downtown Harrisburg. You can also hear Sara on Friday's at 7:50 AM on 960 AM on the Scott Donato Show.

When the Harrisburg Young Professionals were founded, it was with people like Sara in mind. She is clearly a "brain gain" for Central PA.

Since 1970...RSR REALTORS has been selling Harrisburg...

2005-09-05T20:20:00.000-07:00

Meet my Family...First Day of School

2005-09-04T17:09:00.000-07:00

BOOMS & BUSTS...

2005-09-04T00:58:00.000-07:00

The Inman News article details the sky-rocketing home prices in the United States and the FDIC’s report titled, “U.S. Home Prices: Does Bust Always Follow Boom?” The five year increase of almost fifty percent overall and the greatest increase in any year during 2004, has real estate practioners, economists, and consumers wondering if a bust will follow this boom. The FDIC defines a “boom” as a thirty percent or more increase in inflation-adjusted home prices during any three year period. A “bust” is defined as an inflation-adjusted price decline of fifteen percent or more in five years.

The article points out that sixty-three U.S. metropolitan areas have had at least one housing boom since 1978. In the last twenty-five years, twenty-one cities have experienced a “housing bust.”

The article presents case studies of housing booms and busts in the Mid-west, Northeast and California. The FDIC reports that currently no cities are experiencing home-price busts and interestingly “only infrequently” do home-price booms lead to busts.

The FDIC does caution that there is more sub-prime lending and higher-leveraged borrowing then ever before. These factors could make a decline in the housing market more likely to become a bust.

Sir Issac Newton first taught us that “what goes up must come down.” Based on the real estate market activity in recent times Maryland and nationally may defy gravity. Short housing supply and a healthy economy are going to continue to keep home prices up for the foreseeable future.

Housing Bubble or Rational Price Appreciation?

2005-09-02T22:48:00.000-07:00

Article Review
W. Greg Rothman

Housing Bubble or Rational Price Appreciation?

James W. Hughes, PhD, and Joseph J. Seneca, PhD, The Appraisal Journal

This article discusses the cycles of residential real estate and focuses on three booms and bubble busts. The key question is whether or not the current real estate market has reached a bubble in the northeast. The authors compare the residential real estate market with the 1990’s high-technology boom and subsequent bust. It is rightly noted that the housing market carried the United States out of a recession in the early 2001 and lifted us out of the ruins of the September 11th terrorist attacks.

The strength of the residential real estate market in the last half decade has been driven by 45-year low mortgage interest rates. The authors specifically look at the tri-state area of New York, Connecticut, and New Jersey. All three of these states have experienced extraordinary increases in housing prices. In addition to near half-century low interest rates, the authors also cite the diminishing availability of building lots in the tri-state area and its impact on housing costs.

Their conclusion is that the swell in housing prices in the New York region “does not represent an excessive, unsustainable advance, at least when assessed at the statewide level.” They also conclude that “the combined impacts of rising interest rates, advancing incomes, and a stronger economy are likely to lead to a soft landing – a slowdown in house price appreciation – rather than a painful housing price correction or crash.”

The article examines three other real estate market bubbles in the last quarter century. The first is the commercial office space boom in the early 1980’s following the accelerated cost-recovery established with the passing of The Economic Recovery Tax Act of 1981. The legislation gave commercial office building owners the ability to depreciate their office buildings over only fifteen years, rather than the current 39 years. This change created a tax benefit for commercial building owners that made owning this type of real estate extremely attractive.

The article also cites the legislation that deregulated the Savings and Loan industry and permitted S & L’s to make non-residential loans. These changes in the tax code and deregulation led to the boom in commercial real estate for the first half of the 1980’s.

The authors fast-forward to 1990 when the bubble burst and blame it on the “development excesses [that] were glaringly revealed.” To be sure, there were development excesses and loose loans made by the numerous Savings and Loans throughout the country. However, the authors fail to address the 1986 Tax Reform Act that took away the accelerated depreciation, effectively pulling the rug out from under commercial real estate developers and building owners in the United States. The government inspired boom was bust by the 1986 legislation.

The second boom-bust example that is analyzed by the authors was the high-technology investment boom of the late 1990’s. The so-called “dot com” exuberance in the stock market was driven by high-flying stock values without any relation to profits or assets.

Herein lies the major problem with comparing the real estate market with the hi-tech stock market sector. Real estate is valued by three different, distinct and equally important approaches. The Cost Reproduction Approach values the building based on the cost to construct the property less any applicable depreciation. The Income Approach values the real estate based on actual or expected income less expenses. The Sales Comparison Approach values the real estate by comparing it to other recent confirmed sales of similar properties.

The “dot com” stocks that rocketed to sky-high prices in the late 1990’s had no such valuation approaches. The values of the company’s assets did not reach anywhere close to the total stock share value. Applying the traditional real estate Income Capitalization Approach to the 1990’s hi-tech stocks would yield a value nowhere near the stock price, as often the companies had no profits to show.

The third boom was the related stock market boom in the mid and late 1990’s. The authors cite the NASDAQ Composite Index and its growth from 1996 to 1999. By October 2001, NASDAQ had given back all of its gains and declined three straight years 2000, 2001, and 2002. The NASDAQ began recovering by 2003. The authors fail to note three other events that impacted the U.S. during late 2000 and 2003. The first event was the prolonged presidential election of 2000. Financial markets are never comfortable with uncertainty and it took several weeks after Election Day before the Supreme Court ratified the election of George Bush. The second event was the aforementioned terrorist attacks designed to cripple our financial market and destroy our economic morale. While “9-11” has become the hackneyed excuse for economic failures, a study of the capital markets in the early 2000’s is not complete without addressing the impact of the attacks on our economy. The third event that has impacted our economy was the war in Afghanistan and Iraq. Many would seek to separate these two wars, but their impact on the economy is as a single seamless war. The authors fail to mention either war.

The article provides an analytical perspective of changes in housing prices between 1983 and 2003 in the tri-states and the entire United States. The authors use the Office of Federal Housing Enterprise Oversight (OFHEO) House Price Index (HPI) to “measure the change in house prices of the same single-family properties over time expressed as a housing price index.” The tables illustrate the total and compounded annual rate of change in housing prices showing various periods in the New Jersey market, the United States market, the New York market and the Connecticut market.

The authors next explore the bursting housing bubbles that led to the 1989-1992 recession in the Northeast. They explore the recovery nationally and in New Jersey (1991 to 1998). They also cite the housing recovery in New York and Connecticut.

The article addresses another federal legislative change that led to a boom in the residential real estate market. Congress passed a change in tax law in 1997 that exempted the first $500,000 in capital gains from the sale of their primary residence. Prior to the change, many empty-nesters were locked into keeping their homes rather than down-sizing and paying capital gains taxes in the 20% plus range. The only way the homeowner could defer the capital gains tax was to purchase a home of the same or higher value. Many states, including Pennsylvania, quickly followed suit and passed capital gains exemptions from state tax. The second factor was the boom in the stock market that gave homebuyers more capital to invest in their home choices. The market continued to grow from 1997 to 2000, fueling the housing booms in the tri-state and beyond. The third factor was the Federal Reserve’s aggressive reduction of interest rates. Thirteen times in a two year period, the Fed reduced interest rates to generational lows.

The authors consider whether the region’s housing prices have reached the bubble point. Since they demonstrate that appreciation rates from 1998 to 2002 have not exceeded the same levels of the appreciation seen in a similar five year period from 1983 to 1988, they conclude the tri-state housing market has not reached the bubble yet.

When the bubble and bust arrive will be a result of the economy, job growth and income levels. The authors offer the optimistic opinion that “the tri-state regional housing market is not about to suffer a collapse. The bursting of the housing bubble in 1988 remains an informative subject of history, not a predictor of our housing future.”

The safest way to predict the future is to study the past. The past as demonstrated by the authors well documented article is that government legislative changes in tax law and the Federal Reserves actions will have a greater impact on real estate market than any free-market forces can ever have.

Harrisburg Map

2005-09-02T20:03:00.000-07:00

When will the Bust come to Harrisburg, PA?

2005-09-02T19:23:00.000-07:00

Despite the farewell warnings of one of my heroes, Alan Greenspan, I don't believe a BUST is coming to Central Pennsylvania's residential real estate market anytime soon. Here is why....

1. Demand still exceeds supply.
2. Interest rates are still low. (They actually fell by week's end).
3. Unemployment rates are at record lows in Central PA and four year lows nationally.
4. Central PA is "recession proof" due to the size and scope of government.
5. Housing prices in the Harrisburg area are still extremely affordable.
6. Quality of Life factors are still great in the Harrisburg area: schools, crime, shopping, recreation, pollution (except the awful allergy levels), and employment opportunities.
7. Mortgage financing is still readily available.
8. Our population is growing at a steady rate.
9. Government and education (our top employers) ain't getting any smaller.
10. We are NOT in a boom* yet.

*A boom is defined as an aggregate 30% increase in value over three successive years. According to the Central Penn Multi-List appreciation in 2002 was 5%; 2003 was 8%; and 2004 was 9.5% -- that is only 22.5%. I predicted in January of 2005 that we would see double-digit appreciation this year. It looks like it could be as high as 12%. So....we will finally have met the definition of a BOOM.

Townhouses at Silver Creek....

2005-09-01T20:13:00.000-07:00

Click here for information.

Starting at $179,900.

National Civil War Museum

2005-09-01T20:03:00.000-07:00

The National Civil War Museum®
HARRISBURG, PENNSYLVANIA

Regular Business Hours: Mon. - Sat. 10 a.m. - 5 p.m. Sunday 12 Noon - 5 p.m.
The only museum in The United States that portrays the entire story of the American Civil War. Equally balanced presentations are humanistic in nature without bias to Union or Confederate causes.

Harrisburg University Welcomes Pioneer Class

2005-08-31T09:40:00.000-07:00

Greg Rothman serves on the Board of Trustees of the Harrisburg University of Science and Technology.

CAUTION... BACK TO SCHOOL

2005-08-31T06:13:00.000-07:00

Today is the first day of school in several Central Pennsylvania communities. DRIVE CAREFULLY, RESPECT SCHOOL BUS RULES, KEEP OUR CHILDREN SAFE.

Cumberland County Economic Development

2005-08-31T04:28:00.000-07:00

ROTHMAN NAMED VICE-CHAIRMAN OF THE CUMBERLAND COUNTY ECONOMIC DEVELOPMENT CORPORATION... Cumberland County, Pennsylvania....click here.

. . . the crossroads of South-Central Pennsylvania, where a confluence of interstate highways put the world within arm's reach, where history and high-tech work side by side, where city lights and starry nights meet. So, let us introduce you to this jewel that we call home. Begin your journey here.

Harrisburg is a place without stress...

2005-08-30T22:05:00.000-07:00

Pittsburgh Post Gazette article.

Elegant Harrisburg Mansion for Sale

2005-08-30T21:39:00.000-07:00

One of the most elegant and beautiful homes in Central Pennsylvania is now available for sale for $1,100,000.

http://www.homesinharrisburg.com

JHU Graduation...Meet my Family

2005-08-30T20:02:00.000-07:00

Meet my family...Mia's Birthday

2005-08-30T20:01:00.000-07:00

Oakhurst Village Condominiums

2005-08-30T19:35:00.000-07:00

Contemporary Condominiums in Harrisburg

starting at $169,900.... take a virtual tour.

Biographical Sketch

2005-08-30T19:18:00.000-07:00

W. Greg Rothman is the President/CEO and Broker of Record and Chairman of the Board of RSR REALTORS®, LLC and RSR Appraisers & Analysts. He supervises over 45 licensed real estate agents, eight State Certified Real Estate Appraisers.

He has provided appraisal and real estate consultation to the Commonwealth of Pennsylvania Real Estate Commission, the Office of the Attorney General and the Appraisal Certification Board on fraud and consumer complaints.

Mr. Rothman received his Bachelor of Science from the University of Massachusetts/Amherst. He is a graduate of the Masters of Science in Real Estate degree program at Johns Hopkins University in Baltimore, Maryland. His cumulative GPA is 3.97.

Mortgages, Mortgages, Interest Rates....

2005-08-30T18:51:00.000-07:00

If you have any questions about financing your real estate purchase visit Capital Mortgage Resources and ask for Angela Shaw -- shown above. She has been helping me with mortgages for ten years. Great people, great service and great rates.

Patriot News Editorial

2005-08-30T10:38:00.000-07:00

Click here to read the Patriot News Editorial on Fannie Mae.

2005-08-30T07:17:00.000-07:00

This is me with Colonel Wesley Fox, USMC, recepient of the Congressional Medal of Honor.