buying a home: Lancaster, PA rent is costing too much ! - 10/30/18 05:10 AM
 
  
 
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It looks like you are using an ad blocker in your browser.This may cause challenges with your Personalized Posts, and prevent the share buttons from appearing with each post. We recommend whitelisting the KCM website or changing your settings to prevent any potential issues. Copy Copied to Clipboard!Unable to Co Are You Spending TOO Much on Rent in Lancaster? Chances are if you are renting you are spending too much of your income on your monthly housing expense. There is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their rent or … (1 comments)

buying a home: Has Lancaster's housing been affected by Tax Changes ? - 05/29/18 05:57 AM
5 Ways Tax Reform Has Impacted Lancaster's Housing Market Starting late last year, some predicted that the 2018 tax changes would cripple the housing market. Headlines warned of the potential for double-digit price depreciation and suggested that buyer demand could drop like a rock. There was even sentiment that homeownership could lose its coveted status as a major component of the American Dream.
Now that the first quarter numbers are in, we can begin to decipher the actual impact that tax reform has had on the real estate market.
1. Has tax reform killed off home buyer demand? The answer is “NO.” … (1 comments)

buying a home: Can Myths Stop me fromBuying a Home in Lancaster,PA ? - 05/09/18 04:46 AM
Home Buying Myths we Avoid in Lancaster, PA  Some Highlights: The average down payment for first-time homebuyers is only 6%! Despite mortgage interest rates being over 4%, rates are still below historic numbers. 88% of property managers raised their rents in the last 12 months! The credit score requirements for mortgage approval continue to fall. Buyers - your first step is obtaining Mortgage Pre-Approval ! Then you will need to hire a Buyers Agent to represent your interests through out the entire transaction ! The current Buyer's Market is Very Competitive ! TEXT ME to learn more !   … (0 comments)

buying a home: End the Rent Cycle in Lancaster, PA ! - 03/31/18 04:49 AM
The Cost of Renting vs. Buying Today in Lancaster Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.9%) vs. the percentage needed to buy a median-priced home (15.7%), the choice becomes obvious. Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!    Your first step to end the Rent Cycle is obtaining Mortgage Pre-Approval .    Email  mikeperrykw@gmail.com  to get started !
    … (5 comments)

buying a home: How much will I need to Buy in Lancaster, PA ? - 03/13/18 08:26 AM
You Can Save for a Down Payment Faster Than You Think! Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state.
Using data from the United States Census Bureau and Zillow, we determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on their dream home. There is a long-standing ‘rule’ that a … (2 comments)

buying a home: What Can Happen in One Hour ? Lancaster,PA - 03/09/18 07:46 AM
The Difference an Hour Will Make This Spring ! Some Highlights: Don’t forget to set your clocks forward this Sunday, March 11th at 2:00 AM EST in observance of Daylight Saving Time. Unless of course, you are a resident of Arizona or Hawaii! Every hour in the United States: 614 homes are sold, 81 homes regain equity (meaning they are no longer underwater on their mortgage), and the median home price rises $1.51 . Spring is a great time to enter the Real Estate Market and the added daylight provides more activity during the week . Email mikeperrykw@gmail.com  to get started … (3 comments)

buying a home: Buy Your Lancaster Co., PA Home Now ! - 02/18/18 08:45 AM
Should I Wait Until Next Year to Buy? Or Buy My Lancaster Home Now? Some Highlights: The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time. Freddie Mac predicts interest rates to rise to 5.1% by 2019. CoreLogic predicts home prices to appreciate by 4.3% over the next 12 months. If you are ready and willing to buy your dream home, find out if you are able to!  
Your first step is obtaining Mortgage Pre-Approval ! Email mikeperrykw@gmail.com … (3 comments)

buying a home: Stock Market Not Affecting Lancaster,PA Real Estate - 02/18/18 08:38 AM
Calm Down! The Real Estate Market is NOT Falling Apart There has been tremendous volatility in certain markets over the last few weeks (for example, the stock and currency markets). When this happens, some tend to lump all of their investments together and create an almost ‘Armageddon’ scenario where everything loses value quickly and dramatically. Real estate is an investment that can get caught up in this hysteria. Does the concern about the current housing market have merit?
Financial advisors have been warning us for months that the stock market was ripe for a “correction.”
Experts have been questioning the value … (2 comments)

buying a home: Who is Buying Homes in Lancaster, PA ? - 02/18/18 08:37 AM
Which Comes First… Marriage or Mortgage? According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2017 at 57% of all buyers. It is no surprise that having two incomes to save for down payments and contribute to monthly housing costs makes buying a home more attainable.
But, many couples are also deciding to buy a home before spending what would be a down payment on a wedding, as unmarried couples made up 16% of all first-time buyers last year.
If you’re single, don’t fret! Single women made up 18% of … (3 comments)

buying a home: Do Lancastrians Still Value Home Ownership ? - 02/13/18 05:39 AM
Homeownership: “The Reports of My Death Have Been Greatly Exaggerated” The famous quote by Mark Twain in the title of this article can be used to describe homeownership in America today. Last week, the Census revealed that the percentage of homeowners in the country increased for the first time in thirteen years.

A story in the Wall Street Journal gave these new homeownership numbers some context:
“The annual increase marks a crucial turning point because it comes after the federal government reined in bubble-era policies that encouraged banks to ease lending standards to boost homeownership. This time, what’s driving the … (1 comments)

buying a home: Sellers are Receiving Multi- Offers in Lancaster, PA ! - 02/01/18 09:20 AM
Bidding Wars Abound… How Long Will They Continue? Just like with any product or service, the law of supply and demand impacts home prices. Any time that there is less supply than the market demands, prices increase.
In many areas of the country, the supply of homes for sale in the starter and trade-up home markets is so low that bidding wars have ensued, and the busy spring-buying season is just around the corner.
CoreLogic recently conducted an analysis on national home prices at the time of sale for their January 2018 MarketPulse Report and found that a third of homes … (3 comments)

buying a home: Lancaster,PA Millennials Entering the Market ! - 01/31/18 08:15 AM
Study Shows “Millennials Deserve More Credit” When it comes to talking about millennials, there are many stereotypes out there that have influenced the way the public feels about the generation. Whether it’s the assumption that millennials are irresponsible with money and would rather buy avocado toast than save for a down payment, or that millennials jump from job to job, the majority of these stereotypes paint the generation in a negative light.
A new study by Bank of America entitled Better Money Habits Millennial Report recently came to the defense of the generation when it reported that:
“Millennials deserve more credit … (0 comments)

buying a home: Will these 2 Myths Stop Lancaster,PA Buyers ? - 01/30/18 06:41 AM
2 Major Myths Holding Back Home Buyers Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership,” which revealed that “eighty percent of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 percent.”
Myth #1: “I Need a 20% Down Payment” Buyers often overestimate the down payment funds needed to qualify for a home loan. According to the same report:
“Consumers are often unaware of the option to take out low-down-payment mortgages. Only 19% of consumers believe lenders would make loans with a down payment of 5% … (1 comments)

buying a home: Why Lancaster, PA Millennials are Buying Now ! - 01/26/18 03:42 AM
5 Reasons Lancaster Millennials Choose to Buy  Some Highlights: “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.” The top reason millennials choose to buy is to have control over their living space, at 93%. Many millennials who rent a home or apartment prior to buying their own homes dream of the day when they will be able to paint the walls whatever color they’d like, or renovate an outdated part … (7 comments)

buying a home: Important Skill Lancaster,PA Buyer Agents Possess - 01/23/18 05:22 AM
 
×It looks like you are using an ad blocker in your browser.This may cause challenges with your Personalized Posts, and prevent the share buttons from appearing with each post. We recommend whitelisting the KCM website or changing your settings to prevent any potential issues.   Why You Need a Professional on Your Team When Buying Your Next Lancaster Home Many people wonder whether they should hire a real estate professional to assist them in buying their dream homes or if they should first try to go through the buying process on their own. In today’s market: you need an experienced professional!
You … (1 comments)

buying a home: How Much Downpayment Do I Need in Lancaster , PA ? - 01/17/18 05:25 AM
 
×It looks like you are using an ad blocker in your browser.This may cause challenges with your Personalized Posts, and prevent the share buttons from appearing with each post. We recommend whitelisting the KCM website or changing your settings to prevent any potential issues.   61% of First-Time Buyers Put Down Less than 6% According to the National Association of Realtors’ latest Realtors Confidence Index, 61% of first-time homebuyers purchased their homes with down payments below 6% from October 2016 through November 2017.
Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have … (3 comments)

buying a home: When is the Best Time to Buy a Lancaster,PA Home ? - 01/16/18 04:47 AM
Wondering If You Can Buy Your First Home? There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they are married and have a family, others might think they are too young, and still, others might think their current income would never enable them to qualify for a mortgage.
We want to share what the typical first-time homebuyer actually looks like based on the National Association of REALTORS most recent Profile of Home Buyers & Sellers. Here … (3 comments)

buying a home: Lancasterians Believe in Home Ownership ! - 01/12/18 07:37 AM
 
×It looks like you are using an ad blocker in your browser.This may cause challenges with your Personalized Posts, and prevent the share buttons from appearing with each post. We recommend whitelisting the KCM website or changing your settings to prevent any potential issues. In Lancaster County, PA  ..... 93% Believe Home Ownership Is Important in Attaining the American Dream  Americans continue to believe that homeownership is important in achieving the American Dream. A recent survey by NeighborWorks America reported that:
“Owning a home remains a core element of the American Dream.”
When asked “How important a part of the … (3 comments)

buying a home: Careful who You Listen to about Home buying ,Lancaster,PA - 11/16/17 07:07 AM
Your Friends Are Crazy Wrong If They're Telling You Not to Buy The current narrative is that home prices have risen so much so that it is no longer a smart idea to purchase a home. Your family and friends might suggest that buying a home right now (whether a first-time home or a move-up home) makes absolutely no sense from an affordability standpoint. They are wrong!
Homes are more affordable right now than at almost any time in our country’s history except for the foreclosure years (2009-2015) when homes sold at major discounts. As an example, below is a graph … (0 comments)

buying a home: Why Aren't People Moving as Often ? - 11/15/17 03:10 PM
Feeling ‘Stuck in Place’? You Aren’t Alone… And There’s Hope! Whether you are a renter who is searching for your dream home or a homeowner who feels like your only option is to renovate, you have at least one thing in common: feeling stuck in place.
According to data from the National Association of Realtors’ Profile of Home Buyers & Sellers, the average amount of time that a family stays in their home remained at 10 years in 2017. This mark ties the highest marks set in 2014 and 2016. Back in 1985, when data was first collected on this subject, … (0 comments)

 
Michael J. Perry, Lancaster, PA   Relo Specialist (KW Elite ) Rainmaker large

Michael J. Perry

Lancaster, PA Relo Specialist

Lancaster, PA

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KW Elite

Address: 1280 Plaza Blvd., Lancaster, PA, 17601

Office: (717) 735-1145

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