Pocono News Section

Home Prices Plummet in Poconos

Home Prices Plummet in Poconos - Tuesday, April 7, 2009 at 5:05PM EST

STROUD TOWNSHIP, MONROE COUNTY - Home prices are falling across the country and our area is no exception. Prices in the Poconos have plunged about $25,000 in the past year.
As their two young boys played with a train set, Vikki and Carl Parsons, wished they could hop a train out of town and move closer to relatives.

Little Jack Parsons wants to go to Grandma's house in New York. His mom and dad want to move there too but they need to sell their house in Penn Estates first. They've been trying for two years. "We just haven't had a lot of people come," said Vikki.

The home has five bedrooms and three bathrooms. There's a stream in the backyard and a lake within walking distance. "It's a pretty nice area," said Carl.

But it hasn't been enough to attract buyers. So the family repainted most of the interior, remodeled two bathrooms, added a new kitchen floor and increased closet space. "Still no luck," remarked Vikki.

The family originally listed this house for $230,000. Now - three price drops later - you can pick up this home for $198,500. That's a $30,000 difference.

The Parson's Realtor remains optimistic. Lisa Sanderson said, "I continue to see a lot of people looking. I think there's a lot of pent up demand."

Tom Wilkins of Better Homes and Gardens Real Estate agrees. He thinks the federal stimulus package will help. He explained, "The stimulus packages with the interest rates as low as they are - is an incredible benefit for a home owner to go out and buy."

A benefit for buyers and hopefully a solution to the Parson's problem.

For information on how to purchase the Parson's home you can e-mail or call 570-476-2420.