first time buyers: It doesn't pay to Wait, Lancaster Co. , PA !!! - 05/10/17 04:04 AM
Do You Know the Cost of Waiting? Some Highlights: The “Cost of Waiting to Buy” is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time. Freddie Mac predicts that interest rates will increase to 4.8% by this time next year, while home prices are predicted to appreciate by 4.9% according to CoreLogic. Waiting until next year to buy could cost you thousands of dollars a year for the life of your mortgage! Start your Home Search asap !!!  … (3 comments)

first time buyers: Are You getting these 4 Benefits , Lancaster Co., PA ? - 05/04/17 06:41 AM
Financial Planning: 4 Reasons to Buy a House Today Homeownership will always be a part of the American Dream. There are advantages to owning your own home (educational, health, social) that far transcend any economic impact. However, we want to look at several of the financial advantages of homeownership in today’s post.
1. Buying is Cheaper Than Renting The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The report reveals that:
“Interest rates have remained … (3 comments)

first time buyers: Important Real Estate terms used when Buying , Lancaster, PA - 05/03/17 07:18 AM
Buying a Home? Do You Know the Lingo? Buying a home can be intimidating if you are not familiar with the terms used during the process. To start you on your path with confidence, we have compiled a list of some of the most common terms used when buying a home.
Freddie Mac has compiled a more exhaustive glossary of terms in their “My Home” section of their website.
Annual Percentage Rate (APR) – This is a broader measure of your cost for borrowing money. The APR includes the interest rate, points, broker fees and certain other credit charges a borrower … (1 comments)

first time buyers: Will I Need PMI when I Buy in Lancaster Co., PA ? - 05/02/17 07:44 AM
Get All the Facts about PMI When it comes to buying a home, whether it is your first time or your fifth, it is always important to know all the facts. With the large number of mortgage programs available that allow buyers to purchase a home with a down payment below 20%, you can never have too much information about Private Mortgage Insurance (PMI).
What is PMI? Freddie Mac defines PMI as:
“An insurance policy that protects the lender if you are unable to pay your mortgage. It's a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans … (2 comments)

first time buyers: Will We Run Out of Homes in Lancaster Co., PA ? - 05/01/17 07:52 AM
Is the Current Pace of Home Sales Maintainable? There are some experts questioning whether the current pace of residential home sales is maintainable. Are too many people buying homes like in 2004-2006? Are we headed for another housing crisis? Actually, if we look closely at the numbers, we can see that we are looking at a very healthy real estate market.
Why the concern? Some are looking at the last four years of home sales and comparing them to the three years just prior to the housing bubble. Looking at the graph below, we can understand that thinking.

However, if … (4 comments)

first time buyers: What will you do with your Tax Refund, Lancaster,PA ? - 04/27/17 07:01 AM
Your Tax Return: Bring it Home This time of year, many people eagerly check their mailboxes looking for their tax return check from the IRS. But, what do most people plan to do with the money? GO Banking Rates recently surveyed Americans and asked the question - “What do you plan on doing with your tax refund?”
The results of the survey were interesting. Here is what they plan to do with their money:
41% - Put it into savings 38% - Pay off debt 11% - Go on a vacation 5% - Make a major purchase (car, home, etc.) 5% … (0 comments)

first time buyers: Saving for a Down Payment in Lancaster Co., PA ? - 04/24/17 11:45 AM
How Fast Can You Save for a Down Payment? 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 would it take you 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 household … (3 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