Nice House


by Buz Wolfe

If you have followed my blogs over the past several years, you know that I have frequently pointed out the lack of activity from entry level or first time buyers. In essence, I have attributed this to three factors.

First, many of these younger buyers are loaded with student debt. Second, many are under employed or not working in the field for which they trained or studied. Finally, many of them just fail to see the value in home ownership – – having paid attention to the economic downturn and housing crisis the 2008-2012 period.

Well, according to the Pennsylvania Association of Realtors (PAR) and the Council of Residential Specialists (CRS), young buyers are growing increasingly tired of renting and are indeed beginning to see the value of home ownership. Buyers in the 18-34 age range, frequently known as “Millennials” or “Generation Y”, have discovered owning a home helps build wealth and are now becoming the largest chunk of home buyers in the marketplace. At approximately 35%, they edge out “Generation X” (26%), the “Baby Boomers” (31%) and the “Silent Generation” (9%).

Inasmuch as the residential real estate marketplace is very much a “trade up” phenomena, it is critical to have entry level buyers absorb first homes or starter homes so that those sellers might move on to larger and more expensive homes. This will then facilitate the ability of the sellers of the larger and more expensive homes to downsize – as is increasingly common among the over 55 market.

Millennials are known to be tech savvy and “do it yourselfers”. While most start their home searches on line, it should be noted that, nationally, 90% of Millennials used an experienced real estate professional to complete their purchase. They indicated that the complexity of financing and closing issues were stressful and that the real estate professional was invaluable in helping them navigate the process and close on their new home.

Finally, studies show a reversal trend among young buyers. They are increasingly moving away from city centers and urban areas and looking for homes in the suburbs and small towns. Certainly, this bodes well for the Greater Carlisle Area real estate market as well.

So, the good news is that first time buyers are buying again! And all studies indicate that they are relying on the expertise available from knowledgeable real estate practitioners. EXPERIENCE MATTERS!

*Ray L. “Buz” Wolfe, CRS has been Broker/Owner of his own firm since 1986. In 2015, he was again the Carlisle Area’s Top Producing Independent Broker.
**All information believed to be accurate but not guaranteed.

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by Buz Wolfe

The market is hot! I mean HOT! Honestly, it is the most active local real estate market that I have observed in more than ten years.

Still, there are Sellers who have difficulty finding a Buyer for their property. In a market like this, the only reasons for this are self- inflicted. The top reasons that Sellers are unable to sell their home are the following:

1. Over pricing the home.
2. Overlooking repairs.
3. Failing to declutter and depersonalize the home.
4. Expectations which are too high and a patience level which is too low.

We know that upwards of 98% of Buyers get on-line before ever contacting a Real Estate Broker. According to the Council of Residential Specialists (CRS), to which I belong, the twenty top ranked Real Estate websites cumulatively welcomed 176 million unique website visitors in the month of June last year. The top three sites,, and, shared a combined 68.21% of these visits.

Today’s Buyers are savvy and sophisticated. They will quickly make their own determination if your house is overpriced, if your house is in dire need of updates or if it has other issues about which they are unwilling to overlook. Trust me on this – – today’s Buyers expect a great deal, a perfect home and the need to do virtually no maintenance after acquiring it.

Having said all of that, the market is still good to Sellers. Nationally, homes sold for 98% of asking price in 2014. Locally, this List to Sell Price Ratio consistently exceeds 95% here in our own micro-market.

As the Carlisle Area’s Top Listing Broker, I am uniquely positioned to price your property properly and give you good counsel as to how to make it marketable and desirable to prospective Buyers. With over $130 million in settled transactions since 1982, you can be certain of one thing – – EXPERIENCE MATTERS!

*Ray L. “Buz” Wolfe, CRS has been Broker/Owner of his own firm since 1986. In 2015, he was again the Carlisle Area’s Top Producing Independent Broker.
**All information believed to be accurate but not guaranteed.

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by Buz Wolfe

For several years now, the WHOLE HOUSE INSPECTION (i.e. Home Inspection) has become pretty much a standard condition for all Agreements of Sale for residential real estate. In theory, this is a good thing.

The Home Inspection process was designed to inform the Buyer of any legitimate issues with the home that might require repairs, improvements, or even replacement. Although the Seller is obligated to make good faith acknowledgements in the Seller Property Disclosure Statement, there are often deficiencies within the home about which even the homeowner is unaware.

Legitimate structural issues such as the discovery of termites or radon gas or mechanical issues involving the functionality of the furnace, well or septic almost always should be addressed prior to closing. While there is no obligation on the part of the Seller to remedy these defects, it is generally prudent to do so and rarely are we unable to resolve these types of issues between the parties.

The problem arises, however, when Buyers and Buyers’ Agents use the Home Inspection to create a “second negotiation”. In these instances, the Home Inspection is used as a tool to renegotiate the “business deal” already struck between Seller and Buyer. This causes many problems and, far too frequently, may result in a contract being terminated.

As a Buyer, you would do well to be reminded that the Seller has probably already negotiated to their “bottom line” and, in many cases, agreed to provide seller assistance to the purchaser as well. While LEGITIMATE items are fair game, trying to renegotiate a new roof for the same 15 year old roof that you have already agreed to buy is just asking for trouble. And, my experience tells me that the less amicable a transaction becomes, the less likely it ends up at the settlement table. So, Buyers should be reasonable when evaluating their Home Inspection.

Sellers would be well served to spend $400 or so and have a home inspection done before or shortly after they list their home. By identifying legitimate items that require repairs or improvements, they can save time and money in making these corrections or, at a minimum, quantify the amount of money that will be involved in the “second negotiation”. While Sellers are rarely willing to take this advice, I find that more and more of my clients are beginning to give this serious consideration at the front end in order to avoid a lot of extra headaches at the back.

Keep in mind, too, that there are three types of Home Inspectors. Those that really don’t know what they are doing all that well; those that believe they are “God’s gift to the transaction”’; and those who are good, common sense “providers of information”. There is no certification or requirement to become a Home Inspector in the Commonwealth of Pennsylvania. While it is highly suggested that consumers use an Inspector who is a member of ASHI (American Society of Home Inspectors), these individuals vary greatly with regard to their actual level of expertise. As such, they tend to call out anything imaginable to “keep their butts covered” and avoid any exposure or future litigation. Trade specific experts should be called in to evaluate anything that is uncertain to the Home Inspector himself.

So, the notion of having a Home Inspection is certainly a good idea. The manner in which the Home Inspection results are treated are the difference between a happy Seller and Buyer shaking hands at the closing table or parting ways before the Sold sign appears.

*Ray L. “Buz” Wolfe, CRS has been Broker/Owner of his own firm since 1986. In 2015, he was again the Carlisle Area’s Top Producing Independent Broker.
**All information believed to be accurate but not guaranteed.

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by Buz Wolfe

For many years now, The Greater Carlisle Area Chamber of Commerce has been sponsoring an Economic Forecast breakfast each January, which is generously sponsored by M&T Bank. Scott D. Ehrig, a Senior Investment Advisor for M&T Bank, offers a very well researched presentation regarding both national, regional and local economic matters. I attended the Annual breakfast meeting again a few weeks ago, and came away with several observations for the Harrisburg/Carlisle MSA.

• Favorable job growth is projected.
• The manufacturing sector continues to yield to healthcare and education jobs.
• Cumberland County is outperforming the state overall in most categories.
• Cumberland County’s 3.9% unemployment is better than both the United States and Pennsylvania rates.
• Housing trends are now positive.

Last year, Scott, with whom I have met and spoken with on several occasions, confirmed my theory that regional and local real estate values are now back to 2005 and 2006 levels. We are seeing fewer and fewer people “under water” with their homes or being forced to sell for prices less than that which they may have paid.

The first two months of 2016 have been busy and productive for Wolfe & Company Realtors. We are introducing quite a bit of new listing inventory and working with many good and qualified buyers. Our ability to keep up with ever evolving changes and complications within our own industry remains a great asset to our clients. Simply put, we are “problem solvers”.

Wolfe & Company Realtors continues to deliver to the highest of expectations. Yes, EXPERIENCE DOES REALLY MATTER! All of our Associate Brokers and Salespeople are able to produce five star reviews from past clients upon request. And, as always, with us, it is NO FEES – NO TEAMS – NO NONSENSE!

Have industry related questions? E-mail me any time at

*Ray L. “Buz” Wolfe, CRS has been Broker/Owner of his own firm since 1986. In 2015, he was again the Carlisle Area’s Top Producing Independent Broker.
**All information believed to be accurate but not guaranteed.

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by Buz Wolfe

On January 2nd, 1986 I opened a real estate office in Carlisle. I was twenty five years old, less than four years removed from Dickinson College, and had just obtained my Broker’s License a few weeks before.

I borrowed $7,500, rented a small portion of the office building that I now own and fully occupy, and hired my own mother for her “free secretarial services.” We had one salesperson – – just out of Millersville University and with no experience whatsoever.

Last week, Wolfe & Company Realtors celebrated its 30th Anniversary. Several people have asked me what has changed and what has not. I reflected on this for a bit and felt like I was in a good position to answer that question.

In 1986, we had a Carlisle Association of Realtors. It consisted of about 200 members. We also had our own Carlisle Multi-List, owned by all of the local Brokers. These days, of course, we belong to the Greater Harrisburg Association of Realtors and participate in its Bright Multiple Listing Service. Now, there are about 400 agents or so who are actively engaged in the real estate business within the Carlisle Area.

Thirty years ago, real estate “agents” legally and technically represented the Seller in every transaction. There was no Buyer Agency. There was also no Consumer Notice and no Seller’s Property Disclosure. We could list your house with a one page form and probably sell it with a two page Agreement. Settlements were almost always conducted by local attorneys – not title companies and settlement agents. The local custom was that closing was always held in the office of the Seller’s attorney.

Most Real Estate offices in the area were independent firms owned by local Brokers. While we still have at least two strong, independently owned real estate offices, most of the companies doing business within the Carlisle market are now franchise firms or branch offices for much larger real estate brokerage conglomerates. They have little real attachment to the community.

I would have to say professionalism within the industry has improved over the thirty plus years that I have been in the business. When I started there were no continuing education requirements. Having said that, not nearly as many salespeople today seem to pursue their Broker’s license.

Without a doubt, technology has been the biggest change. We have gone from “onion skin” typing paper and MLS books to an industry where up to 98% of consumers get on-line and view real estate and property from their computer or phone long before ever calling a Broker’s office. While this was a change greatly feared by the “old timers” in the industry, I believe it has been an extremely positive change inasmuch as an educated consumer is a far more attractive client for an experienced Realtor. Still, “high tech” will never replace “high touch” and I continue to be convinced that Wolfe & Company Realtors provides the highest level of professional and individual real estate attention and knowledge available anywhere within the Greater Carlisle Area.

What has not changed is that very few of the people who get in to the real estate business are actually successful. They just do not make it. Several years back, I participated in a National Association of Realtors survey that determined 7% of the licensed practitioners in the country make 93% of the commission income. When I look at the list of the 468 Realtors doing business in Carlisle, I can identify about twenty who actually make a very good living at the practice of real estate. I am pleased to know that about a third of them work right here in my office.

On our 25th Anniversary, we began promoting the mantra “EXPERIENCE MATTERS.” On our 30th Anniversary, it continues to be more true than ever. We look forward to putting our experience to work for our clients and customers again in 2016 and beyond.

*Ray L. “Buz” Wolfe, CRS has been Broker/Owner of his own firm since 1986. In 2014, he was again the Carlisle Area’s Top Producing Broker with $10,000,000 in settled transactions.
**All information believed to be accurate but not guaranteed.

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by Buz Wolfe

Do you think we should take the house off the market? Should we wait until spring to put our house on the market? Do houses sell over the holidays?

These are all questions which I am frequently asked. I am not sure there is a right or wrong answer to any of them, but I have observed some patterns over my many years as a Real Estate Broker.

Yes, overall activity is always down from about Thanksgiving through the early part of January. Local and “trade up” buyers often wait until after the holidays to pursue their search. The buyers that are out there looking, however, are very legitimate. They have either sold a property and need to purchase one or are, perhaps more likely, relocating into the area as a result of a job transfer.

If your home is presently on the market and you have been experiencing good and steady activity and just don’t want to be “bothered” with the process over the holiday season, I would say go ahead and take it off the market. You can likely put it back on the market in February or March and enjoy the same type of steady activity.

If, though, you have a high end or niche property which has had only sporadic activity due to the reduced pool of buyers available to you, I would absolutely keep the house on the market during the holiday season. You simply can’t take the chance on missing out on a transferee who may be coming into the community and looking for a very specific property. Relocation buyers typically tend to be higher end buyers and more inclined to purchase a special or niche property. They can’t buy your house if it is not for sale.

The market in the Carlisle area has never been terribly seasonal. For sure, the second and third quarters are typically more productive than the fourth and first. Having said that, we have had many years where our first quarter or our last quarter was the best. There is a certain “New Year’s Resolution” mentality that brings many people into the market in early January. Again, they cannot buy your house if it’s not for sale.

The key to our long time success is our ability to gauge the market, give you good counsel and advice, and then manage your transaction. We do that round the clock, twelve months a year.

I extend my personal and heartfelt wishes to you and your family for a Merry Christmas. “Remember the reason for the Season.” Remember, too, EXPERIENCE MATTERS!

*Ray L. “Buz” Wolfe, CRS has been Broker/Owner of his own firm since 1986. In 2014, he was again the Carlisle Area’s Top Producing Broker with $10,000,000 in settled transactions.
**All information believed to be accurate but not guaranteed.

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by Buz Wolfe

I would like to take this opportunity to wish all of our clients, friends, peers, and family a blessed and Happy Thanksgiving! As I approach the 30th Anniversary of the founding of our company, I am constantly reminded of the many blessings which have been bestowed upon us over these years.

Since these warm wishes are echoed by my entire staff, I thought it might be fun to give you a quick two sentence description of some “fun facts” about the Wolfe & Company sales staff.

Steve Martson has a law degree. He spent a very successful career in the private sector corporate world.
Harry Snyder is a retired Air Force and Commercial Airline pilot. He has over twenty five years experience as a top producer in high end properties.
Wayne Deakin is a Penn State alumnus. He has spent approximately twenty years handling rental, property management and recreational cabin properties for us.
Mitch Gelbaugh started with the company in 1986 and went on to spend eighteen years at RE/MAX where he was inducted into the RE/MAX Hall of Fame. Mitch holds an Associate Broker’s license.
Eric Shryock just celebrated his twenty fifth anniversary with the company. Before entering the real estate field, Eric was a PGA Class A Golf Professional.
Gary Sausser is a West Point grad and enjoyed a distinguished Army career culminating in the rank of Brigadier General. Gary also holds the CCIM – – the highest commercial designation available in the real estate industry.
Tom Lindsey enjoyed a successful career in the commercial construction business before entering the real estate business in 1988. Tom also holds an Associate Broker’s license.
Sam McLoota is also a Penn State alumnus and a graduate of the Smeal College of Business. Sam is also an alumnus of the Leadership Cumberland program.
Joan Wolfe spent many years “behind the scenes” taking care of bookkeeping, payroll, IT and procurement for the company before securing her sales license. She continues to wear “all of the hats”.
Erin Wolfe is a Bucknell alumnus and taught in the Chambersburg and Cumberland Valley Schools before entering the Real Estate business. Erin is on track to finish among the top five percent of producers in the marketplace for 2015.
John Matasovsky’s first career was with the Pentagon. He relocated to the area because of his love for fly fishing and he also holds the SRES designation.
Michael Garrity relocated to the area from Chicago with his wife who is part of a long established Carlisle business. Michael also has the CCIM designation and is a graduate of Marquette.
Andy Wolfe is a graduate of Juniata College where he played Division III basketball. Andy will soon sit for the General Certified Appraisal examination.
Tracy Sharp has been “running the company” for nearly ten years. Tracy and her family are native to the area and relocated back here after a corporate career in Human Resources.

The market remains good and our staff remains dedicated to serving our clients through the balance of the year and into 2016. At Wolfe & Company Realtors it is still NO FEES – NO TEAMS – NO NONSENSE. And remember – – – EXPERIENCE MATTERS!

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by Buz Wolfe

By now, you have probably heard about TRID – – the big real estate change which occurred on October 3rd. The “TILA-RESPA Integrated Disclosure” was designed and implemented by the federal government in yet another over reaching attempt to “protect” consumers. TILA stands for “Truth in Lending Act” and RESPA stands for “Real Estate Settlement Procedures Act”. These two federal lending requirements are to be “Integrated” into a “Disclosure” that provides very firm rules as to the precision and advance notice to which lenders must adhere in providing information to borrowers.

While the goal of providing consumers/borrowers/buyers with more accurate and timely information is a very good one, the new procedures are fraught with problems and will be likely to create many personal crises and painful delays in settlements.

What do you need to know? Basically, the most important thing that parties to a real estate transaction should know going forward is that it will be more important than ever to deal with LOCAL lenders, attorneys, title companies and settlement agencies.

Many of the functions previously performed by title entities and settlement entities will now be purely the responsibility of the LENDER. Borrowers/buyers will now have three days after receipt of their Closing Disclosure to review the form prior to closing. Any changes to the Closing Disclosure will likely trigger a new three day waiting period before closing can occur. Any changes made by the lender or by any of the borrower’s/buyer’s activities since the initial Loan ESTIMATE will also require the three day waiting period – – there is very little ability to avoid the “three day rule”.

For additional information on TRID and how it may affect you, feel free to contact Wolfe & Company Realtors for additional information. Remember – – the lender and settlement agent must work together. Know who you are working with! Local will almost always be better!

And…EXPERIENCE MATTERS! Managing your transaction is more important than ever and no one does that better than Wolfe & Company Realtors!

*Ray L. “Buz” Wolfe, CRS has been Broker/Owner of his own firm since 1986. In 2014, he was again the Carlisle Area’s Top Producing Broker with $10,000,000 in settled transactions.
**All information believed to be accurate but not guaranteed.

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by Buz Wolfe

A recent industry trend is for real estate companies or real estate teams to offer a “free” moving van to customers and clients utilizing their services. Well, I did a little checking into this.

You can rent the biggest U-Haul available for $39.95 a day plus $.78 a mile – – at least the last time I checked. Most residential moves are made within the course of one day.

These same real estate teams and real estate agencies are charging their clients anywhere from $200 – $700 in additional fees over and above the standard real estate commission. This makes you ask yourself, just HOW FREE IS FREE?

As best I can tell, we are the only leading real estate company in the area that does not charge additional fees. We charge no fees to our Buyer clients whatsoever and no fees above agreed upon commission to our Sellers. That’s what we mean when we say……………………………..


For simply the most reliable and fairly priced real estate service available in South Central Pennsylvania, contact Wolfe & Company Realtors. Experience does matter!

*Ray L. “Buz” Wolfe, CRS has been Broker/Owner of his own firm since 1986. In 2014, he was again the Carlisle Area’s Top Producing Broker with $10,000,000 in settled transactions.
**All information believed to be accurate but not guaranteed.

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by Buz Wolfe

When it comes to real estate, “EVERYONE IS AN EXPERT”.  Trust me on this one.

I do a great deal of industry related reading and research.  For the most part, this is to keep me current with trends in the industry and to assure that my company is complying with all the appropriate rules and regulations.  Seldom, however, do I bother to read about what the “experts” think.

One recent exception was an article in the Sunday Patriot News by Terry Savage of the Savage Truth.  She lists a number of things that should be considered before purchasing a home and states that “If you plan realistically, your home could be your best investment, especially with low mortgage rates.”

Ms. Savage does go on to make two points with which I completely agree.  In fact, I have made both of them many, many times in the past.

First, your home is your residence not a trading investment .  While real estate has traditionally been an excellent investment and the largest savings investment for most Americans, this point should not be lost.

Number two, the family home is not a liquid asset.   See above.

There are, however, many additional benefits to home ownership.  These include property tax deductions, mortgage interest deductions, closing cost deductions (Pennsylvania has among the lowest mortgage closing costs in the Nation according to, home office deductions, Energy Star deductions, and property sale deductions.

It is true that your home should not be a “piggy bank” and that there is more to life than making house payments.  Still, as we have seen time and time again, the single family home remains most Americans best and most significant investment.  With property values returning to 2005-6 levels, inventory at appropriate levels, and mortgage interest rates still at historic lows, now is the time to “start up”, “trade up”, or “downsize”.




*Ray L. “Buz” Wolfe, CRS has been Broker/Owner of his own firm since 1986.  In 2014, he was again the Carlisle Area’s Top Producing Broker with $10,000,000 in settled transactions.

**All information believed to be accurate but not guaranteed.

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