Douglas's Blog

A Solution To The HVCC Nightmare

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Wed, 04 Nov 2009 07:26:22 -0600

On October 22, 2009, the House Financial Services Committee passed an amendment offered by Rep. Gary Miller (R-CA) that could put an end to the problems brought about by the HVCC (Home Valuation Code of Conduct). If the Bill passes in the House and then the Senate, mortgage brokers will once again be allowed to pick appraisers when underwriting loans for real estate mortgages.

“While I am supportive of ensuring accurate appraisals, I have repeatedly expressed concern that the HVCC has potential to increase costs to consumers, significantly hinder a consumer’s ability to obtain legitimate and reliable appraisals, and adversely impact small business professionals who work in the very neighborhoods where these consumers are looking to purchase homes,” said Congressman Miller. “In fact,since the implementation of the HVCC on May 1, there are numerous examples of higher costs for appraisals, poor service, the inability to use one appraisal for more than one lender, questionable quality of appraisals, and the inability to make corrections to inaccurate information on an appraisal report.”

Support The Ongoing Stabilization of Our Markets. Request the Permanent Reversal of HVCC!

Join with over 115,000 people who have already contacted the New York Attorney General, Fannie Mae, Freddie Mac, and the Office of Federal Housing Enterprise Oversight.

Douglas Lavery

50 Tower Drive in Elizabethtown, PA

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Thu, 10 Jul 2008 07:24:17 -0500

Gorgeous two story home on 1/2 acre plus lot features: impressive two story foyer w/second story window, kitchen w/island and eat-in area w/glass doors to deck and patio. Family room with a gas fireplace, formal dining room, master bedroom with full bath, walk-in closet and 10x6 sitting area. The view overlooking Elizabethtown is lovely.

50 Tower Drive in Elizabethtown, PA

Location: Elizabethtown, PA

Gorgeous two story home on 1/2 acre plus lot features: impressive two story foyer w/second story window, kitchen w/island and eat-in area w/glass doors to deck and patio. Family rm w/gas fireplace, formal dining rm, master bedroom w/full bath, walk-in closet and 10x6 sitting area. View out over E-Town is lovely.

Information

Contact Information

Elizabeth & Douglas Lavery

717-367-6200 ex237

Pricing

Asking Price: $274,000.00

Flexibility: Negotiable

Property Location

50 Tower Drive
Elizabethtown, PA 17022
View Map

Links

Our Blog

Our Website

Features

Bedrooms: 3

Bathrooms: 2.5

Parking: Off Street

Year Built: 2003

Subdivision: Northbrooke

Lot Size: .54 Acres

Garage Size: 2 Car

School District: Elizabethtown Area

Square Footage: 2110

Agent Name: Elizabeth Lavery

Broker: Prudential Homesale Srvs Group

MLS #: 136809

Cooling: Central Air

Attributes

Appliances

Range/Oven

Dishwasher

Microwave

Interior Amenities

Fireplace

Hardwood Floors

Kitchen Island

Vaulted Ceilings

Basement

Exterior Amenities

Patio

Grass Lawn

Photo Gallery

View as Slideshow View Photo Gallery (9 Photos)

EQUAL HOUSING OPPORTUNITY

VFLYER ID: 1746830

Douglas Lavery

STRONGER THAN EVER...

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Wed, 25 Jun 2008 16:53:59 -0500

This will be a very memorable June for many Realtors in Elizabethtown, PA. We went to our monthly sales meeting at Preferred Realty Group, Inc. and two hours later we all walked out with new business cards which said Prudential Homesale Services Group.

Douglas Lavery

New Listing in Elizabethtown, PA

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Sun, 22 Jun 2008 20:42:09 -0500

Cape Cod featuring first floor master bedroom, hardwood floors, eat-in kitchen, formal dining room, sunroom and covered porch with gorgeous farmland views in all directions and cozy basement. Enjoy the Artesian well on property.

Douglas Lavery

The 5 Biggest Newlywed Mortgage Mistakes

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Sat, 16 Feb 2008 11:15:52 -0600

-from The LaveryTeam February Newsletter

One of the most common things couples often discuss when planning their wedding is buying their first home. Now, I don't have to tell you that buying a home is a topic best dealt with on its own, but when the love bug bites, it can often make its way into the wedding preparations. This is a huge mistake. In fact, this type of mass newlywed hysteria can cause some couples to make five very costly mistakes when they decide to purchase their home.

Newlywed Mortgage Mistake #1

When talks about purchasing a home make their way into a new marriage, they are often met with a tremendous amount of excitement. Dreams of cooking special meals in the large kitchen, images of frolicking in the creek just out back or talk about future holidays with your ever-growing family are just the tip of the iceberg. What often happens is that the reality of the situation is overshadowed by the magic of it all.

One of the biggest mistakes a couple can make is failing to check their own credit prior to applying for their mortgage. Forget about the old-wives tales about points being taken from your credit report if you check it. The truth is that you are entitled to one free copy of your credit report from each of the three big credit reporting companies. This type of credit check is called a "soft pull," and it doesn't show up on your report. If you take the time to check your credit report, you will be able to remove any discrepancies prior to applying for a mortgage. You could ultimately save an interest rate percentage point or two by cleaning up your credit report!

Newlywed Mortgage Mistake #2

Sometimes, the home buying dream can become a reality very quickly! But one thing you should always do first (and what most newlyweds fail to do) is - get pre-approved for your loan before choosing your home. This will tell you where you fall financially and it can help prevent you from seeing homes out of your reach. In addition, a pre-approval tells the mortgage company that you are ready to go and it tells the home seller that you are interested in making the purchase. It helps to speed up the process and you can get any minor bumps out of the way before they show up at closing.

Newlywed Mortgage Mistake #3

Searching for the perfect home is a lesson in patience and how to avoid temptation. Because newlyweds are still riding high on their wedding euphoria, they will often lose sight of that. When the mortgage company tells the newlywed couple that they are approved for $350,000, they're not telling you to go out and buy a home for that amount! This is a trap that many newlyweds fall into - mortgaging too much money. Always make sure that you can afford the home you want to purchase, not purchase the home you want to be able to afford.

Newlywed Mortgage Mistake #4

Starting off your new life together takes some getting used to. It also requires a lot of money! Don't make the mistake of using all of your savings for your home's down payment. Even though you probably received plenty of gifts on your wedding day, you will still have to purchase a number of big-ticket items for your home, which will cost money. Plus, the last thing you want to do is start out your life together with nothing in the bank. Especially when you move into your new home and you discover the hot water heater just sprung a leak and the electrical panel is corroded and the roof needs replaced, should I go on?

Newlywed Mortgage Mistake #5

Sometimes, first-time buyers don't even realize that there are first-time buyer programs and incentives out there. These incentives can help save you money by reducing the amount you need to put down on your home or they can help you get a loan approved if you have sub-par credit. Always look at all of your options before settling on one choice. Discuss all of your financing options with a professional and make the right choice that will benefit you the most.

Buying your first home is an exciting, yet daunting affair. Don't short change the process or you could find yourself spending much more on your mortgage than you should. Keep the wedding plans separate from the home buying dreams and by giving each their own due, you'll find much more happiness and fulfillment in each of these life changing events.

Douglas Lavery

Just Listed in Elizabethtown

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Thu, 17 Jan 2008 10:15:02 -0600

324 East Park St, Elizabethtown, PA

Great views and access to the fun park in back. Walk and play in nature every day. Garage off alley. This 4 bedroom home features 1676 sq ft of updated home with historic flair. Once part of the Brandt farmhouse, it was in Elizabethtown when it was untouched country. Some of the decorative woodwork in front is original. Huge eat-in kitchen with deck was added and bathroom, of course. Double hung tilt-in replacement windows, 3 covered porches and balcony to enjoy view. Walk from schools, tennis, gym, library, transportation. Easy access to highway. Lovingly restored and kept.

Douglas Lavery

Understanding Adjustable Rate Mortgages

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Mon, 31 Dec 2007 11:02:02 -0600

From The Lavery Team December Newsletter...

You've probably heard a lot about ARMs in the news of late, but many people still find them confusing. They know that the rate changes, but they aren't sure how. ARMs really aren't all that complicated.

An ARM, like its counterpart the fixed rate mortgage (or FRM), has two elements: The interest rate and monthly payment. With a fixed rate loan those items stay the same throughout the life of the loan. With an ARM, the interest rate changes and in turn, causes changes in your monthly payments.

It works like this. An adjustable rate mortgage has a period in between rate changes called the adjustment period. A one year ARM has an adjustment rate period of a year, so that's how often the interest rate - and your payments - can change. A 3-year ARM has a 3-year adjustment period, etc.

The interest rate itself has two parts: the index and the margin. The index determines the interest rate. It may be based on CMT securities, the Cost of Funds Index (COFI), the London Interbank Offered Rate (LIBOR) or even the lender's own cost of funds. These indexes vary, with some changing more often than others and some that are generally higher than others. The margin represents how much your interest rate will be over and above the index. For example, if your index is 3% with a 3% margin, the rate would be 3% + 3% or 6%. Following is the formula.

Index + Margin = Fully Indexed rate

Using the formulas, if the index rose to 4%, the fully indexed rate would be 7%. There is a limit on how much your loan can change: It's called a rate cap. Rate caps limit how much interest the lender can charge you.

There are two main kinds of caps typically used on ARMs:

A periodic cap limits how much your rate is allowed to increase from one adjustment period to the next.
A lifetime cap limits how much the interest rate can change over the entire life of the loan. By law, there must be an overall (lifetime) cap on adjustable rate mortgages.

Note that if the interest rate on a given loan is held down by means of a periodic cap, if the index were to go up, the lender may be able to impose the increase at the end of the next adjustment period. For example, if a periodic cap is 2% but the index rose 3%, the lender may raise the rate 2% during the present adjustment period and the extra 1% during the subsequent period.

There is a third cap called a payment cap that limits how much your monthly payment can go up at the end of each adjustment period. Usually if your ARM has a periodic rate cap, it will not have a payment cap.

The reason it's so important to consider all these caps when evaluating a loan is to understand the way that your monthly payment will increase. This is important because it will directly affect the amount of money you have on hand each month for non-housing expenses. The incremental increases in the index and rates can be deceptive. But do the math: If your monthly payment increases from $953 to $1,395 over the first seven years of the loan, that is nearly a 50% increase and could represent a significant burden to your monthly budget.

If you still aren't sure about your ARM program, get a written disclosure from your lender. If you are considering an ARM, be sure to compare the annual percentage rates (APR) and caps on several ARMs to evaluate which one will cost you less money.

Douglas Lavery

Haunted Grounds - October 27th 6:30-9:00pm

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Mon, 22 Oct 2007 18:37:57 -0500

It's Halloween time again and Elizabethtown will have the 18th Annual Haunted Fairgrounds. This scary event is sponsored by GEARS and The ROTARY CLUB of Elizabethtown. And for those faint of heart there will be non-scary activities like pumpkin decorating and hayrides.

For more information go to www.getinfogears.org or call (717) 367-0355

Douglas Lavery

Elizabethtown History

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Mon, 08 Oct 2007 09:56:19 -0500

Elizabethtown began it's first "Century of Charm" in the 1700's with the founding colonists. Our community has a rural charm of surrounding townships where farming and the tradition of working together are still upheld. We have a hometown newspaper, churches of all denominations, public and private schools, a public library, fire company and many cultural attractions for area residents and visitors to enjoy. Elizabethtown is a great place to live, work and shop.

Elizabethtown is a community of 11,887 residents located in south central Pennsylvania. Situated in scenic northwestern Lancaster County, our town is 10 miles south of Hershey and 20 miles from Harrisburg, Lancaster and York.

There are two stories about the origin of the town's name. In one version it is named after Elizabeth Reeby, wife of Michael Reeby who sold the first building lots here in about 1795. Another version has it named after the wife of Captain Barnabas Hughes who purchased a tavern here in 1750.

The officially accepted history is that, in 1753, Barnabus Hughes acquired land and laid out a town, naming it for his wife, Elizabeth. The early settlers were primarily Scots-Irish and Pennsylvania Dutch.

Elizabethtown became a borough in 1827, and a railroad was built through the area in the 1830s. The town was primarily agricultural until the early 1900s, when the Klein Chocolate Company (now part of Mars, Inc.) and several shoe factories (the last of which closed in 1979) opened. Elizabethtown College was established in 1899, and the Masonic Homes (now the Masonic Village) followed in 1911.

After World War II, Elizabethtown grew rapidly, more than doubling its population between 1950 and 2000. Homes and businesses expanded into nearby farmland, making sprawl, farmland preservation, and revitalizing the downtown area important issues.

Douglas Lavery

New Listing in Elizabethtown PA

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Mon, 08 Oct 2007 07:44:55 -0500

Gorgeous 2.5 story home on .62 acre corner lot features 3241 sq ft of living space including finished in-law quarters (approx. 600 sq ft) in basement, 6 bedrooms, 3 1/2 baths, Great Room with fireplace, dining and living rooms, new oak kitchen and first floor laundry. Oversize front 2 car garage and attached back 4 bay garage (room for 9 cars) equals total garage space of 3116 sq ft.

Douglas Lavery

What the Heck is a Short Sale?

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Tue, 02 Oct 2007 11:47:15 -0500

From The Lavery Team Newsletter...

Over the last several years a lot of buyers have bought homes, intending to live in them for many years, then something happened - maybe good, maybe bad, but regardless - they don't have a choice.

Some owners have to move.

When most homeowners move, they sell their house. Usually, that's not a problem. For some people nowadays, it is a problem.

Because of the easy financing, rampant speculation, flipping, and sometimes fraud, home values skyrocketed most everywhere. That came to an end recently and values plummeted in some areas.

Even when values are stable, sometimes there just isn't enough money in the property to pay off the mortgage, then pay all the selling costs and moving costs.

What happens then?

Default, sometimes bankruptcy, and maybe even foreclosure.

Or a short sale.

A short sale is when the lender agrees to accept a mortgage payoff that doesn't cover the outstanding loan.

Why do lenders accept short sales? Lenders almost always lose money when they foreclose on property. In many cases, they will lose less money through a short sale than they would by foreclosing on the home and selling it as a bank-owned property.

However, there are rules.

The borrower must experience a genuine financial hardship. If this fits, call the lender. Talk to customer service or the collection department and let them know what is going on. That way, knowledge of your hardship is communicated to the lender and becomes a part of their files. Keep your own communication log.

Eventually, you will have to document the hardship and your inability to deal with it financially by disclosing all your assets. Bank statements, stocks, bonds, tax returns, pay stubs -- the lender will want to see everything >>>>

that may document that you are not hiding assets or income.

The lender will not make a commitment based solely on your hardship. You're also going to have to put your home on the market and sell it.

Once you sell the property, you have to supply additional documentation. When the property is listed, your real estate agent prepares a comparative market analysis. You're going to need that and you will need to supply a copy to the lender, along with your hardship letter, the documents mentioned above, a copy of the purchase agreement, and a "net sheet" showing how much you will net (or lose) from the sale of the home.

It may be that you actually want your real estate agent or some other professional to negotiate with your lender. If so, you need to prepare an authorization letter. That lender includes your name, property address, loan number, your representative's name, the date, and your notarized signature.

Your agent will know almost all of this and have the proper format.

Then your agent submits it all to your lender and...

...you wait.

Normally, your lender can't make the decision to accept a short sale on their own. If there is mortgage insurance, they get a say-so. Your mortgage has an investor. The investor gets a say-so.

If the deal "makes sense", they believe your hardship is genuine, and you do not own any other property -- you may get a "yes" decision. Your chances go up markedly if you have someone experienced negotiating for you.

Oh yes. If your lender does forgive part of your debt, there is something you should also know. Debt forgiveness is taxable income. The IRS will require you to pay taxes on that income.

Douglas Lavery

It's a Buyer's Market Out There!

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Sun, 02 Sep 2007 19:42:12 -0500

From The Lavery Team September Newsletter...

When there are lots of homes for sale and it takes a long time to sell them -- that's a "buyer's market." In most of the country, that's the current situation.

If it is a buyer's market where you live and you're looking to buy a home, that puts you in a strong position to negotiate for lower prices and incentives.

What kind of financial incentives can you ask for?

First, let's talk about how much you can ask for. If you are putting ten percent down or more, you can ask for up to six percent of the price of the home. If you are putting less than ten percent down, you can ask for three percent of the price.

Those guidelines do vary from loan program to loan program, so make sure you get pre-qualified first so you can ask your loan officer about the allowable incentives for your loan program and down payment.

Nothing guarantees you will get everything you ask for, but sellers are certainly willing to negotiate and give you something.

The next thing you should do is make your offer and ask for those funds to be applied toward your non-recurring closing costs. By applying the incentives toward your closing costs you lower the amount of out-of-pocket cash you need to close the deal. Otherwise, you would have to come up with a down payment and closing costs.

There are two types of closing costs: non-recurring costs and recurring costs. Non-recurring costs are things like points and fees that you only pay once and never pay again. Recurring costs are things like insurance and property taxes that you continue paying over the time you own the home. Most loan programs only allow you to apply incentives to pay non-recurring costs. FHA and VA loans are exceptions.

Now comes the hard part. Make sure no one takes advantage of you. Sometimes a lender may just inflate your loan costs to useup what you negotiated. You want to work closely with your real estate agent and your loan officer to make sure you use all of those funds for your benefit.

If you can get a 5.75% fixed-rate loan for a one point loan origination fee, you can probably get 5.625% for one and a half points and 5.5% for two points. If you don't think your lender is getting you the best deal, talk to him (or her) directly and ask what would a loan officer from another company would get you for the same costs. If you don't want to play hardball like that, get your agent to play hardball. The agent wants you to close on the real estate deal because if you don't, they don't get paid. Ask for help.

What you don't want to do when you make an offer in any kind of market is ask for a "carpet allowance." Almost no lenders allow carpet allowances because that is just cash in your pocket and there is no guarantee the money will actually be spent on a new carpet. If the carpet really needs to be replaced, just ask the seller to replace the carpet before you close. That's allowable and it still saves you money replacing it yourself after you move in.

Even though it is a buyer's market what you don't want to do is load up your offer with lots of contingencies. For example, if you have to sell your home to buy this one and you make your offer contingent on that sale going through, that is a contingency.

Loading up your offer with contingencies makes it less certain you will actually close, so that makes it less likely the seller will offer you lots of financial incentives. The one contingency you always want to include, especially in this market, is that your offer is contingent upon the property appraising at the purchase price by the lender's appraiser.

Good luck.

Douglas Lavery

The Elizabethtown Fair - August 20 - 25, 2007

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Sat, 28 Jul 2007 13:17:50 -0500

The Annual Elizabethtown Fair, in addition to the events listed below, is when all the Real Estate companies from the area will be together under one roof at their respective booths.

SUNDAY, AUGUST 19
(Fair opens Monday)
    1:00 p.m. - Horse Show
    1:00 p.m. - 7:00 p.m. - Livestock entries received
    1:00 p.m. - 4:00 p.m - Swine weigh-in
    4:00 p.m. - 7:00 p.m - Sheep & Goat weigh-in
    7:00 p.m. - 8:00 p.m - Beef & Dairy Beef weigh-in

MONDAY, AUGUST 20
   9:00 a.m. - 8:00 p.m. - Competitive exhibits received at Church Fellowship Hall (Open 5 p.m. Tues.)
   9:00 a.m. - 1:00 p.m. - Dairy entries received
   5:30 p.m. - Flag Raising Ceremony
   6:00 p.m. - Ride for One Price ($15.00 6-11 p.m.)
   6:00 p.m. - Fair Queen Competition with Dan & Galla (main stage)
   6:30 p.m. - Sadie Green Sales Jugband (midway)
   6:45 p.m. - Opening Ceremony
   7:00 p.m. - Water Balloon Toss (children)
   8:00 p.m. - Living Sacrifices (stage 2)
   8:00 p.m. - Sadie Green Sales Jugband (midway)
   8:00 p.m. - Aaron Kelly (main stage) Sponsored by John Smith Real Estate Group
   9:00 p.m. - Silver Stratus (stage 2)
   9:30 p.m. - Aaron Kelly (main stage) Sponsored by John Smith Real Estate Group

TUESDAY, AUGUST 21
   9:00 a.m. - 5:00 p.m. - Competitive Exhibit area closed for judging
   10:00 a.m. - Dairy Goat Show
   2:00 p.m. - Ride for One Price ($10.00 2-6 p.m.)
   4:30 p.m. - Masters of the Chainsaw
   5:00 p.m. - Exhibits open in Church Fellowship Hall
   5:00 p.m. - Rabbit Show
   6:00 p.m. - Swine Show
   6:30 p.m. - Sadie Green Sales Jugband (midway)
   6:30 p.m. - Masters of the Chainsaw
   6:30 p.m. - Talent Show with Dan and Galla (main stage) Sponsored by Rockvale Outlets
   7:00 p.m. - Sack Race (children)
   7:30 p.m. - Rabbit Showmanship
   7:30 p.m. - Annual Baked Goods Auction (stage 2)
   7:30 p.m. - Force of One Tae Kwon Do Club
   8:00 p.m. - Sadie Green Sales Jugband (midway)
   8:30 p.m. - Masters of the Chainsaw

WEDNESDAY, AUGUST 22
SENIOR CITIZEN’S DAY
   8:00 a.m. - Beef Show
   10:00 a.m. - 11:30 a.m. - Registration for Senior King & Queen
   11:00 a.m. - Taylor Ware( stage 2) Sponsored by Masonic Village
   11:45 a.m. - Senior King & Queen Announced (stage 2)
   1:00 p.m. - Sheep Show
   2:00 p.m. - Ride for One Price ($10.00 2-6 p.m.)
   2:00 p.m. - E-town Idol Away Contest (stage 2) Co-Sponsored by WLAN FM 97
   4:30 p.m. - Masters of the Chainsaw
   5:30 p.m. - Taylor Ware (stage 2) Sponsored by Masonic Village
   6:30 p.m. - Sadie Green Sales Jugband (midway)
   6:30 p.m. - Masters of the Chainsaw
   7:00 p.m. - Taylor Ware (main stage) Sponsored by Masonic Village
   7:00 p.m. - Battle of the Bands (stage 2) Sponsored by McCleary's Pub
   7:00 p.m. - Mini Hay Bale Toss (children)
   7:00 p.m. - Tractor Parade
   7:30 p.m. - Tractor Games (horse arena)
   7:30 p.m. - Capoeira - Martial Arts
   8:00 p.m. - The Uptown Band (Motown)(main stage) Co-Sponsored by Fulton Bank
   8:00 p.m. - Sadie Green Sales Jugband (midway)
   8:30 p.m. - Masters of the Chainsaw

THURSDAY, AUGUST 23
   9:00 a.m. - Dairy Show
   2:00 p.m. - Ride for One Price ($10.00 2-6 p.m.)
   2:00 p.m. - E-town Idol Fly Away Contest Finals (stage 2) Co-Sponsored by WLAN FM 97
   4:30 p.m. - Masters of the Chainsaw
   5:00 p.m. - Celebrity Milking Contest (show ring)
   5:30 p.m. - The Treadlers Thru Time (spinning & weaving demo) Sponsored by HDS Specialists
   5:45 p.m. - Supreme Champions
   6:30 p.m. - Sale of Champions
   6:30 p.m. - Sadie Green Sales Jugband (midway)
   6:30 p.m. - Masters of the Chainsaw
   6:30 p.m. - 8:30 p.m. - Muzette (strolling)
   7:00 p.m. - Milk Chugging Contest (children)
   7:00 p.m. - Battle of the Bands Finals (stage 2) Sponsored by McCleary's Pub
   7:30 p.m. - Fighting Dragons (School of Martial Arts)
   8:00 p.m. - Sadie Green Sales Jugband (midway)
   8:00 p.m. - Mud Flaps (oldies)(main stage) Co-Sponsored by Union National Community Bank

FRIDAY, AUGUST 24
   2:00 p.m. - Ride for One Price ($10:00 2-6 p.m.)
   6:30 p.m. - Sadie Green Sales Jugband (midway)
   6:30 p.m. - Pedal Power Tractor Pull
   7:00 p.m. - Arts & Crafts Auction (stage 2)
   7:30 p.m. - Fighting Dragons Martial Arts Demo
   8:00 p.m. - Sadie Green Sales Jugband (midway)
   8:00 p.m. - "Smokin' Joe" and his Wild Horse Band (country) (main stage)
   9:00 p.m. - Animal exhibits released

SATURDAY, AUGUST 25
   10:00 a.m. - Horseshoe Pitch
   10:00 a.m. - Sponge Relay Race (children)
   11:00 a.m. - Steven Courtney (stage 2)
   11:30 a.m. - Pet Show
   12:00 p.m. - Ride for One Price ($12:00 12-5 p.m.)
   1:00 p.m. - Arm Wrestling (main stage)
   1:00 p.m. - Uncle Pete With Kids (children)(stage 2)
   2:00 p.m. - Hay Bale Throwing Contest
   2:00 p.m. - Garden Tractor Pull
   3:00 - 5:00 p.m. - Competitive Exhibits released
   4:30 p.m. - Frog Jumping Contest
   6:30 p.m. - Sadie Green Sales Jugband (midway)
   7:00 p.m. - E-town Idol Fly Away & Battle of the Bands winners (main stage)
   7:00 p.m. - Mike Bishop, Comedy Hypnotist (stage 2)
   7:00 p.m. - Fear Knot Martial Arts Demo
   8:00 p.m. - Sadie Green Sales Jugband (midway)
   8:00 p.m. - Rich Clare Pentagon Band (oldies)(main stage)
   9:00 p.m. - Mike Bishop, Comedy Hypnotist (stage 2)
   9:00 p.m. - Winners of Baby Photo and Pet Photo Contests announced
  10:45 p.m. - Fireworks

Petting Zoo
OPEN 10 a.m. to 10:00 p.m.

Farmer for a Day Daily
M-F 5:00 p.m. to 9:00 p.m.
Saturday 12 noon to 9 p.m.

RIDES OPEN at 2:00 p.m.
(Noon on Saturday)

Douglas Lavery

National Existing Home Sales Data

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Sat, 07 Jul 2007 20:45:36 -0500

From The Lavery Team July Newsletter...

Home Sales Pace Summary

Sales of existing homes in the USA dropped last month, but only slightly. May sales figures were recently reported down .33% from from April. These are the lowest sales levels we've seen since 2003, just under an annual sales pace of six million homes.

Compared to last May (2006), the sales pace was down 10.33%.

June's sales figures will be announced in late July.

Sales Pace by Region

For month to month comparisons, the Northeast showed a sales gain of 5.77% and sales were up slightly in the Midwest, by .71%. Sales in the South declined by 3.36% and fell only slightly in the West, by .84%.

The figures are adjusted for seasonal fluctuations, then converted to an annual sales pace.

Using raw data and real numbers instead of seasonally adjusted data, we can compare the sales activity to May of last year, instead of month-to-month. In that case, sales were down 10.33% nationwide, with the sharpest decline in the West, by 16.13%. All other regions showed falling sales as well, by 1.88% in the South, 6.62% in the Midwest, and 3.51% in the Northeast.

Figures are calculated using raw data without adjusting for seasonal factors, just comparing May 2006 to May 2007.

Conditions will vary locally.

Inventory Levels Up Again

Inventory is measured in "how many months it would take to sell the total number of homes available for sale right now, at the current sales pace."

It would take 8.9 months to sell all the existing homes currently on the market. The number of homes for sale increased from April by 111,000 homes. Compared to last May at this time, there are 842,000 additional homes available for sale. As you can see, there are many more homes on the market and the sales pace from a year ago has declined substantially across the USA.

Home Prices Decline in USA

Nationally, the median average sales price fell 2.1% compared to one year ago. The only region showing an increase in was the Northeast with only a slight pop in value, a half percent. The other regions show declines: .052% in the West, 1.69% in the Midwest, and 3.82% in the South.

These figures compare current sales prices to those of one year ago using raw data without any seasonal adjustments.

Once again, we will have reports on June sales prices near the end of July.

Douglas Lavery

Should You Try 'For Sale By Owner'?

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Fri, 06 Jul 2007 22:39:55 -0500

-From The Lavery Team July Newsletter...

.
The truth is that only about ten percent of owners successfully sell their home on their own. that varies by region and the number goes up a tad for professional real estate investors because they are more familiar with real estate than your average homeowner.
Those that do sell their home successfully usually accept not only a lower price, but they net less than if they had sold it with a professional qualified real estate agent helping them - especially in an uncertain market with high inventory.
Like today.
It would currently take almost nine months to sell all the homes currently on the market at the current sales pace, even if no new homes came on the market. That is with all the advantages of a real estate agent and the Multiple Listing System (MLS) at your side.
On your own, it's even harder.
Why is the MLS such a big help?
Well, if you run an ad to sell your home, you not only have to pay for the ad, but you can only sell your home to those that see your ad.
That limits demand.
As everyone who has taken a business course knows, the more demand for a product, the higher the price. The less demand, the lower the price.
By sharing information about your home via the MLS with all other Realtors and brokerages in the area, you increase demand for your home. Not only does your agent's company advertise, but so do many others. Since less than ten percent of prospects actually buy the home they see advertised, real estate agents have to find them another home to purchase.
Realtors find those homes in a database called the MLS. Unless you are an agent, you do not have access to the program.
As a result, not only is your agent working to sell your home, but so are all the other MLS members, too.
If you're selling by owner, you're just one person. Your agent's efforts are multiplied by all the other agents in the area.
More demand. Higher price.
Not to mention all the other problems with selling by owner.
A FSBO sign attracts lowball offers, for one thing. Buyers that want not just a deal, but a steal. Have you ever stayed up late and seen an infomercial about how to get rich in real estate? The number one method is to find a steal, often by taking advantage of someone who does not know what they are doing.
Then there are phone calls. Who answers them? What do you say? How do you convince them to come look at your home when you're available to show it? How do you convince them to write an offer? Where do you get the right forms? What forms do you need?
That's just the beginning.
Is the buyer qualified? Do they have money in the bank, good credit, can they get a mortgage loan? Is your buyer's loan officer competent and flexible?
There are also lots of details. Do you need an escrow company or a lawyer? Termite inspection. Home inspection. Warranties. Title inspection.
And when there is a challenge (a polite word for problem), as their always is, who handles it?
It isn't easy and we've just barely scratched the surface.
We're biased, of course, but we recommend a professional agent.

Douglas Lavery

New Listing in Bainbridge PA

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Thu, 05 Jul 2007 16:22:30 -0500

New Listing in Bainbridge PA

Location: Bainbridge, PA

This spacious home has been remodeled inside from top to bottom. New oak eat-in kitchen with dining area and sliding glass to covered porch and large deck. All appliances new and brand new bath and powder room. Lots of windows, tilt-in replacement, and light from all sides. Huge living room full of light with a brick wall and floor pad to accommodate a wood or coal stove. This is a great home, full of space, character, and charm. On over a third of an acre in a lovely country setting, this home is a steal at this price. Won?t last long!

Information

Contact Information

Elizabeth Lavery

(717) 367-6200 x243

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Pricing

Asking Price: $149,900

Flexibility: Negotiable

Property Location

403 Second St
Bainbridge, PA 17502
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Features

Bedrooms: 3

Bathrooms: 1.5

Parking: Off Street

Year Built: 1940

Lot Size: .3 Acres

School District: Elizabethtown Area

Square Footage: 1300

Agent Name: Elizabeth Lavery

Broker: Preferred Realty Group, Inc

MLS #: 121156

Cooling: Central Air

Attributes

Appliances

Range/Oven

Dishwasher

Satellite

Interior Amenities

Basement

Exterior Amenities

Grass Lawn

Deck

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Equal Housing Opportunity

VFLYER ID: 1165523

Douglas Lavery

Press Release

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Fri, 15 Jun 2007 17:49:42 -0500

Elizabethtown, PA --- June 15, 2007 --- Douglas Lavery has completed a highly specialized course in the new skills involved in obtaining and servicing real estate listings, conducted by the COUNCIL OF RESIDENTIAL SPECIALISTS of the NATIONAL ASSOCIATION OF REALTORS®.

The class was conducted in Lancaster and is one of the required courses that must be taken by real estate agents and brokers in order to qualify for the coveted Certified Residential Specialist (CRS) designation.

The course included techniques in seller counseling, pricing, various client servicing activities, marketing techniques and other programs designed to close sales on residential properties.

"Today's real estate market is more complex then ever before and the listing process has become the key in the movement of residential properties," said Douglas Lavery, "This course provided me with new input to enable me to serve both buyers and sellers of residences more effectively."

Certified Residential Specialist Courses are presented in various cities throughout the United States in conjunction with the COUNCIL OF RESIDENTIAL SPECIALISTS an affiliate of the NATIONAL ASSOCIATION OF REALTORS®.

Douglas Lavery

17th Annual Wine & Food Festival

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Wed, 06 Jun 2007 17:30:09 -0500

The 17th Annual Pennsylvania Wine and Food Festival will be held on June 23rd and 24th, 2007 at the Split Rock Resort grounds located in Lake Harmony, PA. The two day festival will feature continuous musical entertainment on three seperate stages, 29 of Pennsylvania's finest wineries, crafts of all kinds and a wide selection of food vendors. Seminars will be held during the festival, be sure to check them out to learn something new about wine.

Advance tickets (Must be purchased by June 21, 2007) are $21. Day of festival admission is $25. For more information call 1-800-255-ROCK (7625) or online goto www.splitrockresort.com .

Douglas Lavery

New Listing in York Haven, PA

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Fri, 01 Jun 2007 15:44:13 -0500

This gorgeous 2 story new build has a stone front with double side-lite door on a 2.5 acre lot. Great lawn ringed by trees. There is plenty of room for a horse or pool. Eat-in kitchen w/elegant cabinetry & plenty of it, breakfast bar & sliding glass door to the deck, 1st floor laundry, formal dining room, huge bedrooms & master suite w/walk-in closet, jacuzi. Bedroom 4 offers your pick of closet style & size although finished as it is. Exposed walk-out basement has plenty of windows.

Douglas Lavery

Requirements for the CRS® Designation

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Fri, 01 Jun 2007 14:34:51 -0500

In response to a comment on my first blog post as an ActiveRain member, Joan asked about requirements for CRS...

Core Courses:

Business Planning & Marketing - CRS 200
Listings - CRS 201
Sales - CRS 202
Wealth Building - CRS 204
Technology - CRS 206
Referrals - CRS 210

Elective Courses:

Elective	# of Units
*Additional* *CRS* *Core Courses - 4 Units Maximum*
Business Planning & Marketing - CRS 200	2 Units
Listings - CRS 201	2 Units
Sales - CRS 202	2 Units
Wealth Building - CRS 204	2 Units
Technology - CRS 206	2 Units
Referral - CRS 210	2 Units
Members who previously took CRS 203, CRS 205 and CRS 207 will receive credit for those courses
*CRS Approved One-Unit Courses - 2 Units Maximum*
Maximize Your Potential...Personally and Professionally*- CRS 103	1 Unit
Making the Right Real Estate Finance Decisions* - CRS 105	1 Unit
Fundamentals of Real Estate Technology - CRS 106	1 Unit
Mastering the Art of Selling New Homes* - CRS 107	1 Unit
"ABC's of XYZ's" - Bridging the Marketing Generation Gap	1 Unit
Advanced Marketing Systems & Techniques for the Recreation & Resort Specialist	1 Unit
Advanced Selling Techniques for the Recreation & Resort Specialist	1 Unit
Connecting with Multicultural Homebuyers	1 Unit
Driving Prospects to Your Website	1 Unit
Earn More, Work Less, Enjoy Life! - Transform Your Business with the Power of eProductivity^TM	1 Unit
Marketing to the Hispanic Consumer	1 Unit
Marketing with Microsoft Office	1 Unit
The New Negotiating Edge...A 5-Step Behavioral Strategy	1 Unit
Ninja Selling	1 Unit
Ninja Selling II	1 Unit
Personal Skills for Professional Excellence	1 Unit
Positioning Properties to Compete in the Market	1 Unit
System Driven Sales	1 Unit
*Members who took CRS 203, CRS 205 and/or CRS 207 cannot receive credit for their one-unit course equivalent.
*Attendance at CRS Sell-a-bration - 2 Units Maximum*
Sell-a-bration, CRS annual education conference - 2005	1 Unit
Sell-a-bration, CRS annual education conference - 2006	1 Unit
Sell-a-bration, CRS annual education conference - 2007	1 Unit
Sell-a-bration, CRS annual education conference - 2008	1 Unit
*Additional Production - 4 Units Maximum*
Additional 40 transactions or $13 million	1 Unit

National Association of REALTORS® Courses - 2 Units Maximum
At Home With Diversity (Class must be taken after January 1, 2005)	1 Unit
International Real Estate for Local Markets (formally named CIPS "Essentials")	2 Units

National Association of Home Builders Courses - 4 Units Maximum
Essential Closing Strategies	1 Unit
House Construction as a Selling Tool	2 Units
Increased Profits Through Effective Builder/Broker Cooperation	1 Unit
Lifestyle Merchandising, Advertising and Promotional Strategies (IRM III)	2 Units
Marketing Strategies, Plans and Budgets (IRM II)	2 Units
Understanding Housing Markets and Consumers (IRM I)	2 Units

*Distance Learning Courses - 4 Units Maximum*
Creating Value for Your Clients (e-Learning course)	1 Unit
Putting Technology to Work for Your Clients (e-Learning course)	1 Unit
Certified New Homes Specialist Interactive CD-ROM Training Program*	1 Unit
Residential Construction Certified	1 Unit
Transnational Referral Certification Program (Offered by ICREA)	1 Unit
*Course revised to one unit 6/1/06. Members who completed the program prior to 6/1/06 will receive 2 units. Students who completed the 2 unit program cannot receive credit for the one-unit equivalent.
*Bachelor's Degree, Designation or Certification - 2 Units Maximum*
Bachelor's Degree	2 Units
ABR, ALC, CPM, CRB, CRES, CCIM, FRI, GRI, or e-PRO	2 Units

Douglas Lavery

Pre-Inspected Listings, The Future of Real Estate

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Mon, 14 May 2007 13:13:00 -0500

Home inspections have traditionally been for the benefit of the purchaser. Pre-inspected listings benefit all parties - purchasers, vendors and Realtors.

Deals Won't Fall Through

Home inspections, performed as a condition of the offer, can upset deals. Sometimes this is because the purchaser gets cold feet; sometimes there's a big problem no one knew about. Sometimes it is because the house has been mis-represented; sometimes it is because the home inspector scared the purchasers by not explaining that minor and typical problems are just that - minor and typical.

If the home inspection is performed prior to the house being listed, all parties will be aware of the physical condition of the house before an offer is drawn. There will be no surprises after the fact. Deals will not fall through.

Pre-inspected Listings Avoid Renegotiation

In a buyers' market, most houses have to be sold twice. It takes a lot of work to get a signed Agreement of Purchase and Sale. Then the home inspection is done and the purchaser wants to renegotiate.

If all parties know the condition of the house prior to the offer, there is no need for renegotiation. As most real estate agents know, renegotiation is very difficult. Vendors have already mentally sold the house; purchasers are suffering buyers' remorse. Egos, pride and frustration can muddy the already emotional waters.

A vendor who pays for a home inspection will be further ahead than one who has to renegotiate. He of she may even sell the house faster.

Unrealistic Vendors

An inspection at the time of listing can also help a Realtor deal with a vendor who has unrealistic expectations. The inspection report is good ammunition for explaining why you can't ask top bucks for a house which is not in top condition.

Repairs Prior To Sale

Sometimes, the home inspection will reveal items which should be repaired immediately. A pre-inspected listing allows the vendor to repair the problem prior to putting the house on the market.

If the inspection occurs after the Agreement of Purchase and Sale, the purchaser could walk, renegotiate or, depending on the inspection clause, the vendor may have the option to repair. A repair done by an unmotivated vendor may not be the best repair and may not meet the purchasers' expectations. This has caused more than one deal not to close.

Peace Of Mind For The Purchaser

There is no doubt that part of the value of a home inspection is a guided tour of the house for the prospective purchaser. The inspection company can return to do a walk-through with the purchaser, if requested.

Douglas Lavery

Just Listed in Elizabethtown

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Sun, 13 May 2007 09:08:21 -0500

Enjoy country style living in Elizabethtown with this 3 bedroom Cape Cod home with large deck and pool. This well maintained home has new carpeting on the first floor Living room, Dining room, Foyer and stairs to the second floor and new tilt-in replacement windows. The remodeled kitchen is complete with ceramic tile floor.

1440 Sq Ft
Large Deck & Pool
Wood/Coal Stove in Living Room
Price: $164,900

Click Here for more information or Contact The Lavery Team!

Douglas Lavery

Elizabethtown Summer Youth Program

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Fri, 11 May 2007 08:14:42 -0500

This summer, your child can have fun with other kids right in your own neighborhood park or elementary school where trained program leaders will be leading supervised, quality recreation activities. Kids will learn social and physical skills through recreation activities. But it's more than fun and games. The program promotes good citizenship among children, and the fun activites keep kids active and entertained.

The program offers a wide variety of recreational activities to children. Playground Leaders will create safe, supervised and fun-filled environments with activities including sports, arts and crafts, and nature activities.

Who: Children Ages 6-14
What: Six weeks of organized FUN!
When: Monday-Friday June 18-August 3 9 am-12 noon
Where:        Bainbridge Elementary School
                   Elizabethtown Community Park
                   Mill Road Elementary School
                   Rheems Elementary School
Registration: Register online at www.getintogears.org
                   Registrations are also accepted at each playground site or GEARS Office by mail,
                   walk-in, or phone-in and fax with credit card. Payment is due at registration.
                   "GEARS", 600 East High Street, Elizabethtown, PA 17022

Douglas Lavery

Home Sales Figures

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Thu, 10 May 2007 15:16:20 -0500

Home Sales Pace Summary

Sales of existing homes were down 8.38% in March, after being up for three months in a row. April's sales figures will be released in late May and it will be interesting to see if this is a trend or an aberration.

Seasonally adjusted, sales in March were at a pace to sell 6.12 million homes this year. That is about equal with the number of homes sold in 2003, which was actually a good year.

For month to month comparisons, sales were down 8.38% nationally, and in all regions of the country, down 10.90% in the Midwest, 9.09% in the West, 8.2% in the Northeast, and 6.23% in the South.

Compared to last year at this time, national sales declined by 11.3%. Regionally, national year-to-year sales figures fell as follows: 5.08% in the Northeast, 9.74% in the South, 13.66% in the Midwest, and down 16.67% in the West.

We will report on April sales near the end of May, when figures are released by the National Association of Realtors.

Inventory Levels Up

Because of the slower sales pace, inventory was up. Inventory is calculated as the the number of months it would take to sell all the homes currently up for sale at the current sales pace.

It would take 7.3 months to sell all the homes listed at the end of March.

Douglas Lavery

Scam Alert: Loan Servicer Takeovers

Douglas & Elizabeth Lavery (Prudential Homesale Services Group) — Tue, 08 May 2007 12:19:36 -0500

Warn your clients!
In this environment of mortgage finance turbulence, consumer advocates warn of reappearance of an old scam whereby a third party comes along and claims to be the new servicer of your mortgage loan. They then begin collecting your mortgage payments (as many as possible until discovered). This is an insidious scam because many people's mortgages will indeed change servicers; and on the surface, they all look similar.

Here's how to fight it!
By law, when your loan is sold, both the current lender and the new lender must notify you in writing. If you get a notice, call your current lender (using a telephone number on your mortgage coupon or older paperwork - don't trust the telephone number on the new letter) and ask if your loan was sold. If you just send the payment without checking-or worse, use the phone number provided on the phony notice-you may quickly find yourself out of a large sum of money.

Douglas Lavery