Dave Miller Real Estate, by Shepherd Realty

Dave Miller's Blog

A Business Person’s Haven, Lancaster County PA

Posted on 12/14/2012

by Dave Miller

Why do business in Lancaster County?

Rock and Roll Lititz

Labor

The culture in the county is of the hardworking type. You can expect that your labor field will have plenty of people looking for a reason to work extra hours rather than finding reasons to go home early. As one friend stated, “I work from “can till can’t”. If its daylight I can see, if its dark I can’t”.

Expertise

Outsourcing work or repairs is easy in this area because there is always an expert close by. If you need to have someone to do aluminum welding you have the option of finding not just a welder but a welder that is experienced and proficient and considered an expert in whatever specialty you need.

Taxes

From a Real Estate tax stand point Lancaster County holds the bragging rights when compared to its eastern and southern neighbors. Chester County, Pa and the state of Maryland hold some good jobs but a growing trend is for their workforce to live in Lancaster County and commute.

NY Times Agrees

Here is a quote from an article in the NY Times:

“There is just a formidable work ethic in Lancaster County, the hearty farmers who saw the Amish and the Mennonites around here working so hard. Then there is an innovative, entrepreneurial streak here, too. Finally, there is the loyalty. The owners want to give jobs to local people and keep them here forever.” – Barry Miller, Susquehanna Bank

The article is titled: An Unlikely Haven for Rock ’n’ Roll Entrepreneurs

It’s about why Michael Tait from Tait Towers say’s business in Lititz was too good to move elsewhere.

Read the rest of the article: http://www.nytimes.com/2010/01/28/business/smallbusiness/28sbiz.html?_r=1&

I Gave Myself a Raise

Posted on 12/13/2012

Did you ever catch yourself handling a high dollar client differently? I have. It seems easier to act efficiently professional in profitable situations.

A few weeks ago I hung Tim Miles’ blog article on my wall in front of my desk. It has not made me an expert in this area but I do see an improvement. That is my goal – improvement.

Here is an excerpt from his blog:

I decided – in 2012 – my time would be worth $300 an hour. I don’t mean necessarilycharging $300 an hour. I mean – acting like it.

This year, fueled by my new-found mental wealth, I’ve watched two things radically transform:

  1. Who I decide to spend time with and how much of that time.
  2. How I carry myself to make sure I’m delivering $300 an hour to myself and to others.

Nothing changed. Except my mindset……… Read the rest of Tim Miles’s blog here

From this day forward, if you want to hire me for my services, I’ll provide you with $300 an hour service for much less than $300 an hour. Just ask.

Price Reduced – 4 Unit

Posted on 12/10/2012

4 Unit Apartment Building For Sale

Build Your Wealth One Property at a Time

$193,000

179,000

347 W King St – Front view

Lancaster PA is an excellent place to start

347 W King St, Lancaster PA

  • 4 unit apartment building
  • Cashflow
  • Energy Efficient
  • Tenant Paid Heat
  • Good property manager in place
  • Extensive rehab already done
  • Very little maintenance

Surrounding Area

  The surrounding area is mixed with commercial and residential. King St is the main route running east through the city. This makes for exceptional public transportation with a bus stop right outside the front door. Restaurants and shopping are within easy walking distance.

This property borders a residential apartment on one side and a nice pharmacy on the other. The pharmacy has a parking lot that wraps the side and rear yards. This parking lot is gated and closed at night. A chain link fence separates the parking lot and the yard. This pharmacy has undergone an extensive upgrade. I am proud to have it beside my property. With a cleanly run business like this beside you your tenants will appreciate the peace and quiet. Well run, clean businesses tend to be better neighbors than residents, in my opinion.

Across the street sits a beautiful chapel. Its high 4 pronged steeple graces the streets below.

The convention center which has been creating buzz in the last years is just up the street.

Work completed in the past 6 years

By previous owner

  • All new vinyl windows (27)
  • Updated kitchens
  • Tile installed in kitchens

(All floors are tile and some backsplashes)

Work Completed Since 2009

By our contractors

  • Flat rubber roofs; 1 repaired and 1 replaced
  • Complete new plumbing
  • 4 new water heaters
  • Paint front on building
  • Complete Painting of 3 units, doors and trim of fourth unit
  • Cosmetics that are too long to list
  • Brought entire apartment up to City Code

More Photos

[slideshow]

Contact me with any questions. I will email you a cash flow pro forma with all the numbers at your request.

Dave Miller, Realtor

717-569-1300

717-951-0201 cell

dave@realstreetpro.com

An Uptick In Multi-Units

Posted on 11/12/2012

After a year or two of stagnation the Lancaster PA rental properties are on the move again. Ron Shepherd was telling me few months ago that if I have buyers or sellers in this market I should inform them that the market is moving up. So I kept an eye on that particular market and was amazed. Not amazed at the upward movement but Ron’s ability to once more accurately gauge a trend.

Here is my analysis of the trend for multi-units in Lancaster City:

2011 and 2012 YTD comparisons:

Average Sale Price: 2011; $132,463.00 2012; 141,126. That’s a 6% price increase.

Number of sales: There were 10% more sold in 2012

Average days on market for the sold properties is up extremely: 2011; 73 DOM, 2012; 103 DOM that up 43%. I do not have an explanation for this spike as it seems to contradict the other numbers.

Here a link to a freshly listed city property. I’ll also have two more till next week. Stay tuned.

Recent blog about residential prices increasing: Refreshing! Home Values First Annual Increase In Nearly Five Years

An Uptick in Multi Units

Posted on 09/15/2012

by Dave Miller

After a year or two of stagnation the Lancaster PA rental properties are on the move again. Ron Shepherd was telling me few months ago that if I have buyers or sellers in this market I should inform them that the market is moving up. So I kept an eye on that particular market and was amazed. Not amazed at the upward movement but Ron’s ability to once more accurately gauge a trend.

Here is my analysis of the trend for multi-units in Lancaster City:

2011 and 2012 YTD comparisons:

Average Sale Price: 2011; $132,463.00 2012; 141,126. That’s a 6% price increase.

Number of sales: There were 10% more sold in 2012

Average days on market for the sold properties is up extremely: 2011; 73 DOM, 2012; 103 DOM that up 43%. I do not have an explanation for this spike as it seems to contradict the other numbers.

Here a link to a freshly listed city property. I’ll also have two more till next week. Stay tuned.

Recent blog about residential prices increasing: Refreshing! Home Values First Annual Increase In Nearly Five Years