Lancaster, PA is the seventh best place in the country for mortgages which are staying afloat according to 24/7 WallStreet.com
Lancaster is a great place to be and one can still buy a great little house for under $100,000, like one of the Living in Lancaster Groups listings at 312 N Arch Street. This home is in great condition and listed at $84,900. But I digress from the facts found in the article regarding places in the country with mortgages which are staying afloat.
Only 5.44% of all mortgages are greater than what the homes are worth. Prices are stable with only 1.83 % decline in prices during the past 12 months. This stability is very positive.
This coupled with an unemployment rate of 7.3% makes it a great time to buy a home or to sell your home in order to buy another home.
The real estate market is local and the oft heard bad news of the national market is not true of the Lancaster home for sale market. The lower number of homes with mortgages which are staying afloat creates ripe opportunities for buying and selling homes in Lancaster.
To learn more about these opportunities give me a call.