BREAKING NEWS: HUD Press Release - Important FHA Policy Changes for 2010 - 01/23/10 10:28 AM
The FHA has had so many defaults that it has been depleting its mortgage insurance premium fund.  Therefore it will soon be raising its fee to cover mortgage insurance.  In addition, to make loans less risky, it will be reducing the amount of seller assistance allowable to the buyer.
Below is a HUD press release outlining the details.  Buyers should take note: waiting to purchase will increase your costs once these FHA changes are in place!
Via Jeff Geoghan MBA - Lancaster PA Real Estate Expert (The Jeff Geoghan Realty Group, Coldwell Banker Lancaster PA):
FHA Announces Policy Changes to Address Risk and Strengthen Finances
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I Don't Cold Call and I Don't Want to BE Cold Called - 01/14/10 08:09 AM
I don't cold call and I don't want to be cold called.  Jay-Paul Lowry has posted a blog on the hypocracy of agents who hate calls from telemarketers soliciting their own services.  He feels that real estate agents prospect for a living and that it's hypocritical of us to resent calls from others trying to do the same thing.
Every time I get a call from a stranger that starts with a cheery "How are YOU?", I know it's going to be a solicitation 100% of the time.  The only prospects whom I call are people who have already indicated an interest in what I … (26 comments)

It's Time For Realtors to Stand Firm on Not Doing Open Houses - 01/12/10 07:31 AM
The following article makes a a good case for both the ineffectiveness and the security risks of holding open houses.  There are far more effective ways to market a home to a wider audience.
Via Lee Morof, Associate Broker/Attorney (RE/MAX Showcase Homes):
Every year I order the results of the National Association of Realtors (NAR) Survey of Home Buyers and Sellers. I am particularly interested in How the Buyer Found His or Her Home in the last year because that determines where my marketing efforts will go to sell the homes that I list. Because the numbers pertaining to open houses are so … (16 comments)

The Cost of Waiting for First Time Home Buyers - 01/05/10 08:14 AM
The following analysis for first time home buyers is so important that I felt the need to expose it to more home buying prospects.  Whild the economy is still unsteady, certain factors can be measured and quantified, including how much equity and savings can be gained by purchasing a home before April 30, 2010 and getting it settled before June 30, 2010.
Via Charles Dailey (iLoan):
Ever since the first version of the first time home buyer tax credit, home buyers have been eager to engage but uncertain about home values and for some, this has caused them to sit on the sidelines.  … (5 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

Office Phone: (717) 735-6265

Cell Phone: (717) 951-5552

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Lancaster County PA real estate news, homes, communities, information, local events plus useful advice on buying and selling your home!



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