hempfield real estate news: Why are Lancaster,PA Sellers Listing Now ?
- 10/27/17 03:09 AM
The #1 Reason to List Your House, NOW! The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that sales rose 0.7% month-over-month, but remain 1.5% lower than they were a year ago. Some may look at these numbers and think that now is not a good time to sell their house, but in fact, the opposite is true.
The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! The inventory of homes for sale … (2 comments)
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hempfield real estate news: Zero Downpayment Loans are Available in Lancaster,PA !
- 10/26/17 07:12 AM
Millennials Flock Towards Low Down Payment Programs
A report released by Down Payment Resource shows that 61% of first-time homebuyers purchased their homes with a down payment of 6% or less.
The trend continued among all buyers with a mortgage, as 73% made a down payment of less than 20%.
An article by Chase points to a new wave of millennial homebuyers:
“We teamed up with Google to help us better understand what customers are searching for and how the home buying landscape is evolving. We found that millennials and first-time homebuyers are making a big splash in the market, and affordability remains top of mind.”
Among … (1 comments)
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hempfield real estate news: It's Cheaper to Own than Rent in Lancaster,PA !
- 10/26/17 07:01 AM
The Cost of Renting vs. Buying a Home
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 (29.2%) vs. the percentage needed to buy a median-priced home (15.8%), 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! Buyers , your first step is Mortgage Pre-Approval ! Email mikeperrykw@gmail.com to get started . … (1 comments)
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hempfield real estate news: Build Wealth with a Lancaster Co.,PA Home !
- 10/16/17 05:03 AM
Net Worth of Homeowners 44X Greater than Renters Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey data, covering 2013-2016 was released two weeks ago.
The study revealed that the 2016 median net worth of homeowners was $231,400 - a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).
These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.
Owning a home is a … (3 comments)
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hempfield real estate news: Should I Wait toBuy a Home ?
- 10/16/17 04:52 AM
Millionaire to Millennials: Buy a Home Now! In a CNBC article, self-made millionaire David Bach explained that “the single biggest mistake millennials are making” is not purchasing a home because buying real estate is “an escalator to wealth.”
Bach went on to explain:
“If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to this day is 38 times wealthier than a renter.”
In his bestselling book, “The Automatic Millionaire,” Bach does the math:
“As a renter, you can easily spend half a million dollars or more on rent over the years ($1,500 a month … (1 comments)
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hempfield real estate news: Will I need a 20% Down Payment to Buy ?
- 10/13/17 08:43 AM
No… You Do Not Need 20% Down to Buy In Lancaster,PA !
The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that non-homeowners cite the main reason for not currently owning a home, as not being able to afford one.
This brings us to two major misconceptions that we want to address today.
1. Down Payment NAR’s survey revealed that consumers overestimate the down payment funds needed to qualify … (3 comments)
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hempfield real estate news: Why Lancaster Co.,PA Homes will Sell this Fall
- 10/13/17 08:35 AM
4 Reasons to Sell This Fall in Lancaster, PA
Some Highlights: Buyer demand continues to outpace the supply of homes for sale! Buyers are often competing with one another for the listings that are available! Housing inventory is still under the 6-month supply that is needed for a normal housing market. Perhaps the time has come for you and your family to move on and start living the life you desire. Sellers, update your Current Market Value with a FREE national RPR Report To get started email mikeperrykw@gmail.com … (1 comments)
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hempfield real estate news: What Lancaster,PA Price Points have the Greatest Demand ?
- 10/07/17 08:06 AM
A Tale of Two Markets: A 6-Month Update Six months ago, I reported that the mismatch between the type of inventory of homes for sale and the demand of buyers in the US was causing the formation of two markets.
In the starter and trade-up home categories, there were significantly more buyers than there were homes for sale, causing a seller’s market. In the premium, or luxury, home categories, the opposite was true as there was a surplus of these homes compared to the buyers that were out searching for their dream homes, which created a buyer’s market.
According to the National … (1 comments)
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hempfield real estate news: How Do I Get a Mortgage in Lancaster Co., PA ?
- 10/07/17 08:03 AM
The Mortgage Process: What You Need to Know Some Highlights: Many buyers are purchasing a home with a down payment as little as 3%. You may already qualify for a loan, even if you don't have perfect credit. Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford . Your first step in the Home Buying Process is to obtain a Mortgage Pre-Approval . Email MikePerryKW@gmail.com to get started .
… (2 comments)
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hempfield real estate news: What Lancaster,PA Price Point is in Most Demand ?
- 10/05/17 05:06 AM
Which Lancaster Homes Increased Most in Value??? Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-home price at 5.6%. CoreLogic, in their most recent Home Price Index Report, revealed that national home prices have increased by 6.7% year-over-year.
CoreLogic broke appreciation down ever further into four price ranges which gives a more detailed view than simply looking at the year-over-year increases of the national median home price.
The chart below shows the four tiers and each one’s growth from July 2016 to July 2017 (the latest data available).
… (1 comments)
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hempfield real estate news: Should Lancaster,PA Home Buyers Wait til Next Year ?
- 09/29/17 06:40 AM
Should I Buy a Home Now? Or Wait Until Next Year? 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 4.4% by next year. CoreLogic predicts home prices to appreciate by 5.0% over the next 12 months. If you are ready and willing to buy your dream home, find out if you are able to! Buyers, your first step is obtaining Mortgage Pre-Approval ! Email mikeperrykw@gmail.com to get … (1 comments)
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hempfield real estate news: When Selecting a Lancaster , PA Realtor
- 09/28/17 05:59 AM
What to Look for in Your Real Estate Advocate How do you select the members of your team who are going to help you make your dream of owning a home a reality? What should you be looking for? How do you know if you’ve found the right agent or lender?
The most important characteristic that you should be looking for in your agent is someone who is going to take the time to really educate you on the choices available to you and your ability to buy in today’s market.
As Dave Ramsey, the financial guru, advises:
“When getting help … (1 comments)
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hempfield real estate news: Do Lancaster Co.,PA Home Buyers pay Closing Costs ?
- 09/28/17 05:57 AM
More Than Half of Lancaster Buyers Are Surprised by Closing Costs According to a survey conducted by ClosingCorp, over half of all homebuyers are surprised by the closing costs required to obtain their mortgage.
After surveying 1,000 first-time and repeat homebuyers, the results revealed that 17% of homebuyers were surprised that closing costs were required at all, while another 35% were stunned by how much higher the fees were than expected.
“Homebuyers reported being most surprised by mortgage insurance, followed by bank fees and points, taxes, title insurance and appraisal fees.”
Bankrate.com gathered closing cost data from lenders in every state and Washington, D.C. in … (1 comments)
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hempfield real estate news: Getting Top Dollar for your Lancaster, PA Home !
- 09/28/17 05:56 AM
How to Get the Most Money from the Sale of Your Lancaster Home Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive 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. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your … (2 comments)
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hempfield real estate news: Are Any Homes for Sale in Lancaster Co., PA ?
- 09/26/17 02:45 AM
Why Are So Few Lancaster Homes for Sale? There is no doubt that the largest challenge in today’s housing market is a lack of housing inventory for sale. This challenge has been defined as an “overwhelming lack of supply,” and even a “straight up inventory crisis.”
First American just released the results of a survey which sheds light on the reasons for the current lack of supply.
The survey asked title agents and real estate professionals to identify what they believe are the top reasons for this lack of inventory in their markets. Here are the results of the survey:
47% … (4 comments)
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hempfield real estate news: Should I List My Lancaster, PA Home Yet ?
- 09/22/17 05:44 AM
Most Lancastrians Say Now is a Good Time to Sell! Recently released data from Fannie Mae’s National Housing Survey revealed that rising home prices were the catalyst behind an eight-point jump in the net percentage of respondents who say now is a good time to sell. The index is now 21 points higher than it was this time last year.
Overall, 62% of Americans surveyed said that now is a good time to sell (up from 58%), while 26% of respondents said that now is not a good time to sell (down from 30%). The net score is the difference between the … (1 comments)
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hempfield real estate news: Strong Lancaster Housing Market Predicted for 2018
- 09/22/17 05:43 AM
Home Sales Expected to Increase Nicely in 2018 Freddie Mac, Fannie Mae, and The Mortgage Bankers Association are all projecting that home sales will increase in 2018. Here is a chart showing what each entity is projecting in sales for the remainder of this year and the next.
As we can see, each entity is projecting sizable increases in home sales next year. If you have considered selling your house recently, now may be the time to put it on the market.
Update your home's Current Market Value with a FREE national RPR Report .
Email mikeperrykw@gmail.com to get started !
… (2 comments)
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hempfield real estate news: Lancaster, PA Home Sellers have been waiting for Fall !
- 09/22/17 05:41 AM
5 Reasons to Sell This Fall Here are five reasons listing your home for sale this fall makes sense.
1. Demand Is Strong The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now Housing inventory is still under the 6-month supply … (1 comments)
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hempfield real estate news: How's Lancaster, PA's Housing Inventory ?
- 09/22/17 05:40 AM
Lack of Existing Home Inventory Slows Sales Heading into Fall Some Highlights: The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report. First-time homebuyers made up 31% of all sales in August. Homes are selling quickly with 51% of homes on the market for less than a month. A limited supply continues to drive up prices for the 66th consecutive month. Sellers , this shortage of homes is driving Price upward ! Now is the time to list your Property for Top Dollar ! Email mikeperrykw@gmail.com to update your Property's Value . … (2 comments)
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hempfield real estate news: Why Millennials Buy in Lancaster Co., PA
- 09/15/17 05:46 AM
Top 5 Reasons Why Millennials Choose to Buy in Lancaster County ! 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 that they will be able to paint the walls whatever color they'd like, … (4 comments)
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The #1 Reason to List Your House, NOW! The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that sales rose 0.7% month-over-month, but remain 1.5% lower than they were a year ago. Some may look at these numbers and think that now is not a good time to sell their house, but in fact, the opposite is true.
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