Saving on Home Purchase Financing Costs - 06/29/07 06:11 PM
                                                     
Saving on Home Purchase Financing Costs
Everyone wants to make the best deal they can on a home purchase!  But there's more to saving money than just the price of the house.  Many buyers overlook the potential savings they could get on the financing of their new home.
There are two major types of costs when it comes to getting a mortgage.  The first is the initial investment, which includes the down payment and the closing costs.
The second is the monthly payment, which includes principal, interest, taxes and insurance.
Here are some ways to save on your initial investment:
… (2 comments)

Northgate in Lancaster PA - 06/25/07 09:53 PM
Northgate in Lancaster PA:
An exciting new project is taking place at the corner of North Queen and East Lemon Streets.  The complex of buildings formerly owned by J. F. Wilde is being partially demolished and partially restored and converted.  The new gated community of Northgate in Lancaster will consist of upscale condominiums, office and retail spaces.

The historic warehouse on North Christrian Street shown above will be converted into six luxury condos with 13-foot ceilings,  hardwood floors, and fireplaces.
               
Townhouses along East Lemon Street will be converted into additional condos.      
                                   
Thirty parking spaces will be … (0 comments)

Six Steps for Success in Buying a Home - 06/22/07 07:12 PM
Six Steps for Success in Buying a Home:
Buying a home can seem like an intimidating prospect.   So much is at stake - your credit rating, your savings - it can be difficult to work up the nerve to sign a contract.  How do you determine whether or not the purchase of a home is a good investment?  Here are some steps for success in your search:
1)  Start out by establishing your needs and wants.  I recommend that you do this in writing.  Make two columns:  one for what you would ideally want, and the other for what you definitely … (0 comments)

Lititz Springs Park, Lititz PA - 06/22/07 04:23 PM
Lititz Springs Park, Lititz PA
The first Independence Day celebration in Lititz Springs Park was held July Fourth, 1811.  Apparently the Moravial board of overseers disapproved of all the merry-making and noise!  It wasn't until 1818 that Lititz held another community-wide observance on July Fourth.

Since then, there hs been a continuing tradition of patriotic demonstrations at Lititz Springs Park every Independence Day.
                   
On July 4, 1843, a feature was started which has become a unique tradition ever since.  It was decided to light 400 candles at night, described as a "general illumination of the grounds".  At the … (2 comments)

Lancaster County PA Firsts & Bests, III - 06/21/07 08:50 PM
Lancaster County Firsts & Bests, III
Lancaster County has an unusual depth of history and variety in its economy.  Did you know that for all the commercial and residential growth in recent years, Lancaster County is still the largest producing agricultural county in Pennsylvania?
In Lititz, the Sturgis Pretzel House is the oldest commercial pretzel bakery in the United States!  The stone house was built by Peter Sturgis in 1784, and the first pretzels were baked by Julius Sturgis in 1861.
In Elizabethtown, A. Buch & Sons was the first commercial wheelbarrow manufacturer in the U.S.
In Columbia, The National Watch … (2 comments)

Property Tax Reform Act 1 Defeated - 06/18/07 07:26 AM
The latest attempt at property tax reform was soundly defeated in the May 15 primary.  Pennsylvania lawmakers are busy trying to figure out what the voters were trying to tell them.  Apparently the voters had little trust that Act 1 would fix the problems with the present tax system.
Since the property tax would have been replaced with an increase in the state income tax, only those in the lowest income brackets supported the idea.  Even retirees, many on fixed incomes, voted 54% against the act.  Almost everyone who thought their taxes would be higher voted against the initiative.  It seems that … (0 comments)

Columbia, PA Classic Car Show - 06/16/07 08:05 PM
Columbia, PA Classic Car Show
June 16 was a perfect day for a classic car show in Columbia, PA.  The temperature was a comfortable seventy-eight degrees.  The sun framed the few white clouds in the sky, making a great backdrop for some of the finest antique, classic and customized cars and motorcycles in Lancaster County.

American flags festooned the street lamp posts, and a good crowd was out for the celebration.  Locust Street, Columbia's main business street, was closed off from traffic.  Some local businesses had displays or refreshments out on the sidewalk.
                
OF course, concession food was … (0 comments)

Sturgis Pretzel House to be Renovated - 06/14/07 11:34 AM
In 1784 Peter Sturgis built a lovely stone house at 219 East Main Street, Lititz.  In 1861, Julius Sturgis began baking pretzels at the house.  The Sturgis Pretzel House, now a Lititz landmark, is the oldest commercial pretzel bakery in the United States.
                          
Lititz Improvement, Inc. has purchased the Pretzel House for renovation.  Managed by Dennis Beck, Lititz Improvement is a real estate investment group made up of civic-minded local investors who have purchased and renovated several Lititz buildings in the past.
Modern rest facilities are planned so that the Pretzel House can accommodate bus tours.  Lititz Improvement, Inc. … (2 comments)

Central Farmers Market Enforces Standholder Hours - 06/13/07 05:31 PM
Lancaster's Central Market, the nation's oldest (1730s) publically owned, continuously operated farmers market, is changing its rules - and not everyone is equally happy about it.  The non-profit Central Market Trust, which was formed a year ago to take over management of the Central Market from the city, has decided to enforce the hours that standholders will be open for business.

The present Central Market building, built in 1889, is pictured here to the right of the Heritage Museum.  The market's hours have traditionally been 6:00 am to 4:00 pm Tuesdays and Fridays, and 6:00 am to 2:00 pm on Saturdays.
… (2 comments)

"The Edge of the East": Lancaster's New Strategic Plan - 06/13/07 04:12 PM
Mayor Rick Gray, along with top city officials, has come up with a strategic plan for Lancaster.  Starting with group sessions conducted last summer, the plan has been in formation for a year.  Now it has been boiled down to one page, which the mayor pledges to carry in his pocket.
Mayor Gray is comitting to rebranding the city as an East Coast arts destination.
City Hall will become focused on its customers, the people.
Three hundred owner-occupied housing units will be brought onto the market.
More police officers on foot or bicycle will patrol the city.  It has been shown that police are accepted … (0 comments)

Harrisburg Avenue Office and Retail Construction in Full Swing - 06/12/07 05:38 PM
Across from the Williamson Athletic Field at Lancaster's Franklin & Marshall College, Construction of new retail and office space is going full swing!
The new construction is part of the overall downtown Lancaster City renovation.
                        
The projects are being coordinated as part of the James Street Improvement District.
                
The new stores and offices will compliment the Clipper Magazine Stadium, the Lancaster Convention Center, and other projects coordinated by the Downtown Investment District.
… (4 comments)

Southern Lancaster City Townhouse - 06/12/07 04:21 PM
SOLDHere's a low-cost four-bedroon townhouse that would make a great starter home, or an excellent investment property!  The house has new wiring throughout.  The gas furnace is only two years old.
Priced at only $34,900, the house has a remodeled kitchen and 2-year-old Pergo flooring!  For more information on this and other city homes, or for your own showing, call Brian Schulman at 717-951-5552.
… (0 comments)

Burning Bridge Antiques Market, Columbia PA - 06/11/07 09:06 PM
Burning Bridge Antiques Market, Columbia PA:
For over 100 years, Herr's Hardware Store stood on the corner of North Third and Walnut Streets in Columbia, PA.  When Herr's closed its doors a few years ago, it was hoped that the whatever new use was found for the building, its unique architectural features would be preserved. 

And indeed they have been!  Burning Bridge Antiques Market is one of the finest dealer cooperative antiques markets in Lancaster County.  The ornate pressed tin ceilings have been preserved, as has the original antique elevator that runs from the basement to the second floor.  The … (2 comments)

Prices Still Trend Up; Home Sales Decrease - 06/10/07 09:27 PM
The Lancaster County  Association of Realtors(R) reports that 490 homes sold this May, a 15.1% decrease from May 2006. However, the average May sales price was $195,173, which was an 8.1% increase from May 2006.  However, the average sales price was down from the record April 2007 average of $200,996.  
New residential listings were up 9.7% to 912 properties, up from 831 listings in May 2006. Interest rates are still historically low, and home sales are still fairly strong. although slower when compared to the hot markets of the last few years.
In Lancaster County our market seems to be following the … (0 comments)

Is Inflation Returning? - 06/10/07 08:08 AM
As of May 31, the national average mortgage commitment rate for a 30-year fixed-rate loan was 6.42%.  The 15-year fixed-rate mortgage was 6.12%, and the one-year adjustable rate averaged 5.57%. 
A poll of local Lancaster County lenders, conducted by the Lancaster County Association of Realtors(R) on June 6 showed an average 30-year fixed conventional mortgage rate of 6.11%, and an average conventional 15-year rate of 5.78%.  Lancaster County's mortgage lending industry is very competitive, and typically seems to have rates a bit better than the national averages.  
These rates are still historically low, and are rising only moderately.  The question … (0 comments)

The Linden House, Marietta, PA - 06/08/07 05:54 PM
The Linden House, Marietta PA:
In 1983 I purchased the Linden House in Marietta, PA.  Built ca. 1805 by lumber magnate Henry Cassel, the 6,000 SF mansion had fallen on hard times.  After being unceremoniously chopped up into ten low rent apartments, the roof had been burned off and the house condemned.  The mansion had 606 window panes (yes, I counted them), most of which were broken.  It also had three center halls, fifteen fireplaces including a walk-in fireplace in the summer kitchen, and an ornate fanlight over the front door.

Linden House Antiques was just one of the plans I had for … (12 comments)

Lake Grubb Nature Park & Walking Trail, Mountville PA - 06/08/07 03:31 PM
Lake Grubb Nature Park & Walking Trail, Mountville PA:
Lake Grubb was created on the site of the former Chestnut Hill Iron Ore mine.  The ore pit was filled with water, creating the 13-acre lake.

The 55-acre Lake Grubb Nature Park and Walking Trail was created in 2001 as a joint effort between Mountville Borough and West Hempfield Township.
                      
The park has two picnic pavillions, a playground, parking and restroom facilities.
                                   
The walking trail around Lake Grubb is a mile long, somewhat hilly, but not too difficult to hike.  There are several scenic stops.  A quarter mile … (4 comments)

Question: Just What Does an Agent Do? - 06/06/07 08:05 PM
Many members of the public seem to have a negative perception about agents when this question is asked.  They say things like "Real estate agents sleep until 10 a.m., drink coffee until noon, and do very little except the Four P's: Put up a sign, Put it in the MLS, Put it in the paper, and Pray that it sells!"
Often the uninformed public believe that Realtors(R) have an easy job.  Some even believe that they could do the job of a Realtor better, any day of the week.  Perhaps, with the right training, they could do the Realtor's job.  But … (12 comments)

Eleven Questions to Ask a REALTOR Before You List Your Property - 06/05/07 05:18 PM
Not all real estate agents are the same!  The best Realtors(R) will have good answers to these questions:
1)  How familiar are you with my neighborhood?
2)  What real estate designations have you earned?
3)  How many real estate transactions have you been involved in over your career? 
4)  Do you have a personal assistant to aid you in providing quality serfvice to all your clients?
5)  Am I stuck with you for six months, or do you guarantee your work 100% and give the seller the right to cancel the listing if they are not completely satisfied?
6)  How much time … (2 comments)

Why Do Lenders' Requirements Seem So Stringent? - 06/05/07 04:21 PM
With the recent collapse of the sub-prime market, waves are being felt throughout the lending industry.  For years, lenders had been getting more and more lenient, with lower down payments, lower credit scores, and higher debt rations being allowed.  Unfortunately, the risk of such loans was largely ignored by some lenders.  Now, rising default ratios have put some large subprime lenders out of business.
Is this a cause for alarm?  Not necessarily.  While weak borrowers may have more trouble getting good terms on a mortgage, creditworthy borrowers will still find mortgages available at historically low interest rates. 
However, I would like … (0 comments)

Buyers: Is Your Real Estate Agent Representing YOU? - 06/03/07 08:12 PM
Buyers:  Is Your Real Estate Agent Representing YOU?
About a dozen years ago, the Federal Trade Commission conducted a survey among home buyers.  They were asked, "Who is the agent you are working with representing?"  Almost all buyers assumed that the agent they were working with represented them.  Almost all those buyers were wrong.  The agents they were working with at that time almost always represented sellers exclusively.  The agents' job was to get their clients, the sellers, the best price and terms possible.
Since that time, buyer representation has become much more widespread.  In Pennsylvania, a Consumer Notice must be … (0 comments)

Renters - Are You Adequately Insured? - 06/03/07 12:55 PM
Renters - Are You Adequately Insured?
Recently I read a sad post by Steve Conklin.  A family of renters lost everything they had, to a devastating fire.  Fortunately, they were out of the house at the time of the fire, and are not physically hurt.  However, they are now homeless, and have lost every photograph, keepsake, and personal item that took a lifetime to accumulate.
Apparently the family was uninsured, thinking that since they were only renting, they were not eligible to get insurance.
I hope that my post today reaches someone who is renting and who thinks insurance is unavailable, … (2 comments)

 
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Brian Schulman - Your Lancaster County, PA Real Estate Expert

Lancaster, PA

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Coldwell Banker Select Professionals, Lancaster PA

Address: 1000 N. Prince Street, Lancaster, PA, 17603

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