cma: Lancaster Home Prices Scheduled to Appreciate ! - 10/30/18 05:21 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.   Where Lancaster Values are Headed over the Next Few Years? There are many questions about where home prices will be next year as well as where they may be headed over the next several years to come. We have gathered the most reliable sources to help answer these questions:
The Home Price Expectation … (6 comments)

cma: More Buyers than Homes in Lancaster , PA ! - 05/29/18 05:48 AM
 
 
 
Drop in Inventory Fuels Sales Slowdown in Lancaster ? Some Highlights: Existing Home Sales are now at an annual pace of 5.46 million. Inventory of existing homes for sale dropped to a 4-month supply, marking the 35th month in a row of declines. The median price of homes sold in April was $257,900. This is the 74th consecutive month of year-over-year price gains.  Sellers - Now is clearly the time to obtain TOP DOLLAR for your property . TEXT me (717-951-9933) to receive a Pre-Listing Packet    … (2 comments)

cma: Are there Two Different Markets in Lancaster , PA ? - 05/09/18 04:49 AM
Both Seller's & Buyer's Markets in Lancaster , PA  ? Some Highlights: A trend that has been emerging for some time now is the contrast between inventory & demand in the Premium & Luxury Markets vs. the Starter & Trade-Up Home Markets and what that’s, in turn, doing to prices! Inventory continues to rise in the luxury & premium home markets which is causing prices to cool. Demand continues to rise with low inventory in the starter & trade-up home markets, causing prices to rise! Buyers - you will need Representation to navigate through a Very Competitive Market in most local … (3 comments)

cma: How are House Sales doing in Lancaster Co., PA ? - 05/09/18 04:44 AM
    SELLERS - Now is the time to obtain TOP DOLLAR for your property BUYERS - You will need skilled Representation to navigate your way through this very competitive Sellers Market !  Text or email me to get started mikeperrykw@gmail.com  The PERRY PROPERTY GROUP is a PAID Vender Account on NextDoor.com  FOLLOW us on FB !  … (1 comments)

cma: Spring into Action - List Your Lancaster House Today ! - 03/23/18 01:05 PM
20 Tips for Preparing Your House for Sale This Spring  Highlights: When listing your house for sale your top goal will be to get the home sold for the best price possible! There are many small projects that you can do to ensure this happens! Your real estate agent will have a list of specific suggestions for getting your house ready for market and is a great resource for finding local contractors who can help! Inventory is still very low ! Email mikeperrykw@gmail.com  to update your Current Market Value .   … (1 comments)

cma: Lancaster,PA Housing is Increasing at What Percentage ? - 03/09/18 07:49 AM
 
Home Prices: The Difference 5 Years Makes The economists at CoreLogic recently released a special report entitled, Evaluating the Housing Market Since the Great Recession. The goal of the report was to look at economic recovery since the Great Recession of December 2007 through June 2009.
One of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from December 2012 to December 2017 to show how prices over the last five years have fared.
Frank Nothaft, Chief Economist at CoreLogic, commented on the importance of breaking … (2 comments)

cma: Lancaster's Housing Market will Spring Forward - 03/09/18 07:47 AM
Housing Market Expected To “Spring Forward” This Year in Lancaster,PA Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.
Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.
Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions.
That hasn’t happened … (0 comments)

cma: New Inventory in Lancaster,PA 's Home Market ? - 03/06/18 08:54 AM
 
Competition is Coming, Are You Thinking of Selling Your Lancaster Home? The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.4% over last year.
How will this impact buyers? More inventory means more options. Lawrence Yun, NAR’s Chief Economist, explained this is good news for the housing market – especially for those looking to buy:
“This rise in … (3 comments)

cma: How Much are Lancaster,PA Homes Really Appreciating ? - 03/02/18 08:47 AM
 
  Are Lancaster's Home Values Really Overinflated? Last week, the National Association of Realtors (NAR) released their most recent Existing Home Sales Report. According to the report:
“The median existing-home price for all housing types in January was $240,500, up 5.8 percent from January 2017 ($227,300). January’s price increase marks the 71st straight month of year-over-year gains.”
Seventy-one consecutive months of price increases may have some concerned that current home values may be overinflated.
However, at the same time, Zillow issued a press release which revealed:
“If the housing bubble and bust had not happened, and home values had instead appreciated … (4 comments)

cma: Should I Sell My Lancaster,PA Home Now ? - 03/02/18 08:41 AM
 
Latest NAR Data Shows Now Is a Great Time to Sell Your Lancaster Home ! We all realize that the best time to sell anything is when demand for that item is high, and the supply of that item is limited. Two major reports released by the National Association of Realtors (NAR) revealed information that suggests that now is a great time to sell your house.
Let’s look at the data covered in the latest REALTORS® Confidence Index and Existing Home Sales Report.
REALTORS® CONFIDENCE INDEX Every month, NAR surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions.” This month, the index showed (again) … (4 comments)

cma: Will Rising Interest Rates Affect My Lancaster,PA Home? - 02/25/18 07:32 AM
Mortgage Rates on FIRE! Lancaster Home Prices Up in Smoke? Mortgage interest rates have already risen by over a quarter of a percentage point in 2018. Many are projecting that rates could increase to 5% by the end of the year.
What impact will rising rates have on house values? Many quickly jump to the conclusion that an increase in mortgage rates will have a detrimental impact on real estate prices as fewer buyers will be able to qualify for a loan. This seems logical; if there is less demand for housing then prices will drop.
However, in a good economy, … (2 comments)

cma: 2 Things that will Help Sell Your Lancaster Co.,PA Home - 02/23/18 08:29 AM
 
2 Ways to Get the Most Money from The Sale of Your Home Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the maximum value for your house?
Here are two keys to ensure that you get the highest price possible.
1. Price it a LITTLE LOW  This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand … (3 comments)

cma: Lancaster, PA Prices Continue Upward ! - 02/18/18 08:34 AM
Lancaster's Low Inventory Pushes Home Prices Higher ! According to CoreLogic’s latest Home Price Index, prices appreciated by 6.9% year-over-year from December 2016 to December 2017 on a national level. This marks the fifth month in a row with at least a 6.9% increase.
Dr. Frank Nothaft, Chief Economist for CoreLogic, gave insight into the reason behind the large appreciation,
“The number of homes for sale has remained very low. Job growth lowered the unemployment rate to 4.1 percent by year’s end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective homebuyers. The … (0 comments)

cma: Why Lancaster, PA Sellers are Listing this Month ! - 02/13/18 05:40 AM
The #1 Reason to Sell Now Before Spring The price of any item (including residential real estate) is determined by ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.
According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2017:

Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense.
Bottom Line … (3 comments)

cma: Is Now a Good Time to Sell My Lancaster,PA Property ? - 01/29/18 08:30 AM
U.S. Housing Inventory Crunch Continues… List Your Lancaster, PA House Today! Every winter, families across the country decide if this will be the year that they sell their current houses and move into their dream homes.
Mortgage rates hovered around 4% for all of 2017 which forced many buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!
At the same time, however, inventory levels of homes for sale have dropped dramatically as compared to this time last year.
Trulia reported that “in Q4 2017, U.S. home inventory decreased by 10.5%. That is the biggest drop we’ve seen … (2 comments)

cma: Scarcity is Dominating Lancaster, PA Market in 2018 - 01/25/18 07:36 AM
If You’re Considering Selling, ACT NOW!! Definitely an aggressive headline. However, as the final data on the 2017 housing market rolls in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!
How did we finish 2017? New-home sales were at their highest level in a decade. Sales of previously owned homes were at their highest level in more than a decade. Starts of single-family homes were their strongest in a decade and applications to build such properties advanced to the fastest pace since August 2007. And Bloomberg Business just reported:
“America’s housing … (0 comments)

cma: Home Sellers are Obtaining Top Dollar- Lancaster,PA - 01/24/18 08:04 AM
Gap Between Homeowners & Appraisers Narrows to Lowest Mark in 2 Years In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 4% or more over the next twelve months. One major challenge in such a market is the bank appraisal.
When prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.
Every month in their Home Price Perception … (2 comments)

cma: Will the New Tax Changes Affect My Property Value? - 01/18/18 04:34 AM
What Impact Will the New Tax Code Have on Home Values? Every month, CoreLogic releases its Home Price Insights Report. In that report, they forecast where they believe residential real estate prices will be in twelve months.
Below is a map, broken down by state, reflecting how home values are forecasted to change by the end of 2018 using data from the most recent report.

As we can see, CoreLogic projects an increase in home values in 49 of 50 states, and Washington, DC (there was insufficient data for HI). Nationwide, they see home prices increasing by 4.2%.
How might the … (4 comments)

cma: Shortage of Resale Housing Continues in Lancaster,PA ! - 01/11/18 03:55 AM
The Impact of Tight Inventory on Lancaster's Housing Market The housing crisis is finally in the rearview mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. It seems that the market will continue to strengthen in 2018.
However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up.
Here … (3 comments)

cma: Cold Weather Won't Stop Lancaster, PA Home Sellers ! - 01/08/18 06:00 AM
4 Reasons to Sell This Winter Some Highlights: Buyer demand continues to outpace the supply of homes for sale which means that buyers are often competing with one another for the few listings that are available! Housing inventory is still under the 6-month supply needed to sustain a normal housing market. Perhaps the time has come for you and your family to move on and start living the life you desire.  Update your Current Market Value with a FREE RPR Report . Email mikeperrykw@gmail.com to get started.   … (5 comments)

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

Michael J. Perry

Lancaster, PA Relo Specialist

Lancaster, PA

More about me…

KW Elite

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

Office: (717) 735-1145

Mobile: (717) 951-9933

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog