hempfield real estate news: 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)

hempfield real estate news: Do Lancaster, PA Buyers always get Home Inspections ? - 05/09/18 04:40 AM
Home Inspections: What to Expect So you made an offer, it was accepted, and now your next task is to have the home inspected prior to closing. Oftentimes, agents make your offer contingent on a clean home inspection.
This contingency allows you to renegotiate the price you paid for the home, ask the sellers to cover repairs, or even, in some cases, walk away. Your agent can advise you on the best course of action once the report is filed.
How to Choose an Inspector Your agent will most likely have a short list of inspectors that they have worked with in … (0 comments)

hempfield real estate news: What's Causing Lancaster, PA Home Prices to Rise ? - 03/23/18 01:06 PM
Freddie Mac: Rising Mortgage Rates DO NOT Lead to Falling Home Prices Recently, Freddie Mac published an Insight Report titled Nowhere to go but up? How increasing mortgage rates could affect housing. The report focused on the impact the projected rise in mortgage rates might have on the housing market this year.
Many believe that an increase in mortgage rates will cause a slowdown in purchases which would, in turn, lead to a fall in house values. Ultimately, however, prices are determined by supply and demand and while rising mortgage rates may slow demand, they also affect supply. From the report:
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hempfield real estate news: 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)

hempfield real estate news: There is no Housing Bubble in Lancaster,PA ! - 03/13/18 08:24 AM
A New Housing Bubble Forming…Not Before 2024! A recent report by CoreLogic revealed that U.S. home values appreciated by more than 37% over the last five years. Some are concerned that this is evidence we may be on the verge of another housing “boom & bust” like the one we experienced from 2006-2008.
Recently, several housing experts weighed in on the subject to alleviate these fears.
Sean Becketti, Freddie Mac Chief Economist  “The evidence indicates there currently is no house price bubble in the U.S., despite the rapid increase of house prices over the last five years.”
Edward Golding, a Senior … (2 comments)

hempfield real estate news: 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)

hempfield real estate news: 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)

hempfield real estate news: 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)

hempfield real estate news: 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)

hempfield real estate news: 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)

hempfield real estate news: 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)

hempfield real estate news: 5 Key Services from your Lancaster , PA Agent - 02/10/18 09:30 AM
5 Skills Your Lancaster, PA REALTOR will bring You ! Highlights: Hiring a real estate professional to guide you through the process of buying a home or selling your house can be one of the best decisions you make! They are there for you to help with paperwork, understanding the process, negotiations, and helping you with pricing (both when making an offer or setting the right price for your home). One of the top reasons to hire a real estate professional is their understanding of your local market and how the conditions in your neighborhood will impact your experience.     … (1 comments)

hempfield real estate news: How High will Interest Rates Go in Lancaster, PA ? - 02/10/18 09:27 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 Are Lancaster's Mortgage Interest Rates Headed in 2018? The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.
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hempfield real estate news: Buy a Home Now says Millionaire ! Lancaster, PA - 02/06/18 08:25 AM
Millionaire to Millennials: Don’t Rent a Home… Buy! In a CNBC article, self-made millionaire David Bach explained that: “The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.”
Bach went on to explain:
“Homeowners are worth 40 times more than renters. Now, that first home doesn’t need to be a dream home, it can be a very small home. You might literally have to buy a small studio apartment, but that’s how you get started.” 
Then … (1 comments)

hempfield real estate news: Is Everyone in Lancaster Co.,PA Paying a Mortgage ? - 02/05/18 09:20 AM
Whether You Rent or Buy, Either Way You’re Paying a Mortgage! There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:
“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by … (0 comments)

hempfield real estate news: 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)

hempfield real estate news: 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)

hempfield real estate news: 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)

hempfield real estate news: 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)

hempfield real estate news: 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)

 
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Michael J. Perry

Lancaster, PA Relo Specialist

Lancaster, PA

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KW Elite

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

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