Central PA (Central Susquhanna Valley) Market

[Kevin Walter]

Hey all -- wifey and I love the site -- thanks for all the awesome information!

So, I'm currently an agent in Denver (where the market is ridiculous, and inventory is at a historic low), but my wife and I are contemplating a move back to central Pennsylvania where I grew up, and where my family still lives.   This would happen at the end of summer.

We would be looking at the Central Susquehanna Valley Region:  Lewisburg, Mifflinburg, Milton, Selinsgrove, Sunbury, etc.  I've been in the real estate world since 2010 (in CO) being a somewhat traditional agent, but now we are looking at potentially rehabbing and flipping, and doing the traditional "agent stuff" on the side.  I also have buy and hold experience here in Denver (we just sold a duplex we bought 2 1/2 years ago for $120k profit...and I mean, real profit, after paying the rest of the mortgage off and all closing costs), so that is another strategy we may employ as well.  I'm actually one of those guys that LIKE being a landlord, as I've done leasing for a long time.  Anyway, we're looking at doing a mix of both, depending on what makes sense.  I've lucked out in life and have a father who's built homes from scratch, and have a grandfather who is a master carpenter, so I know I will have a support team in PA.  I've also read and reread J. Scott's flipping books (and if you haven't read his books yet, I highly recommend them!), but I know I have a LOT to learn.

From the somewhat limited research I've done, and from my trips back there, I know it's a huge buyer's market. Houses sit for months, most of the time they expire and are taken off the market. Even without MLS access, I know there are some deals to be had there.

I wanted to put my feelers out there first:  does anyone else have a feel for the market out there?  Are there specific strategies that work well in that area?  Even any tips/things to look out for would be great.    Like I said, I grew up in the area and know it well, but I've been in Colorado since 2009.  

Any thoughts/comments/questions would be greatly appreciated.  Thanks!

[Jean Bolger]

Hi! I live in Denver but have a cousin in Lewisburg. It's beautiful there, but certainly a much different RE environment than Denver. I don't have a lot to offer except encouragement- I've looked at listings in the area and I can tell that it would really take a lot of local knowledge to know what areas were strong and which weren't, so I didn't pursue it any further. I'd guess there are some good rental markets near the universities (Bucknell, etc). If I were moving there I'd be on the watch for economic drivers like new hospitals and the like and look for opportunities near them. I have also read that PA has some different tax laws for investment (doesn't recognize 1031 exchange for state taxes, I think?) Anyway- something else for you to look into, perhaps