obtaining a mortgage: 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)

obtaining a mortgage: How Low are Rates in Lancaster Co., PA ? - 05/09/18 04:53 AM
Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate! Interest rates hovered around 4% for the majority of 2017, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased from 3.95% up to 4.45% and experts predict that rates will increase even more by the end of the year.
The rate you secure greatly impacts your monthly mortgage payment and the amount you will ultimately pay for your home. Don’t let the prediction that rates will increase stop you from purchasing your dream home this year.
Let’s … (3 comments)

obtaining a mortgage: 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)

obtaining a mortgage: 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)

obtaining a mortgage: 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)

obtaining a mortgage: 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)

obtaining a mortgage: Should I Rent or Buy in Lancaster,PA ? - 03/02/18 08:44 AM
 
Is Now a Good Time to Rent in Lancaster ? People often ask if now is a good time to buy a home, but nobody ever asks when it’s a good time to rent. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent.
The Census Bureau recently released their 2017 fourth quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or … (2 comments)

obtaining a mortgage: Can I Buy a Lancaster,PA Home with My Tax Refund ? - 03/02/18 08:43 AM
 
It’s Tax Season… Use Your Refund to Jump Start Your Down Payment Savings! According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $2,840 this year when filing their taxes. This is down slightly from the average refund of $2,895, last year.
Tax refunds are often thought of as ‘extra money’ that can be used toward larger goals; for anyone looking to buy a home in 2018, this can be a great jump start toward a down payment!
The map below shows the average tax refund Americans received last year by state. … (2 comments)

obtaining a mortgage: Home Ownership is Alive & Well in Lancaster, PA ! - 02/25/18 07:30 AM
80% of Lancaster Renters Believe Home Ownership is a Part of Their American Dream According to the latest Aspiring Home Buyers Profile by the National Association of Realtors (NAR), 82% of surveyed renters desire to own a home in the future, with 80% believing homeownership is a big part of achieving their American Dream.
The profile went on to state that 50% of millennials believe that their rent will increase, with 20% believing that an increase in rent will be the catalyst that pushes them to consider buying a home vs. renewing their lease.
So, what is holding renters back?
(2 comments)

obtaining a mortgage: Let The Perry Property Group Represent You in Lancaster,PA - 02/23/18 08:33 AM
Top 5 Reasons to Hire the Perry Property Group to Represent You ! Whether you are buying or selling a home it can be quite the adventure, which is why you need an experienced real estate professional to guide you on the path to achieving your ultimate goal. But in this world of instant gratification and internet searches, many sellers think that they can ‘For Sale by Owner’ or ‘FSBO.’
The 5 reasons you NEED a real estate professional in your corner haven’t changed but have rather been strengthened by the projections of higher mortgage interest rates & home prices as the market … (0 comments)

obtaining a mortgage: 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)

obtaining a mortgage: 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)

obtaining a mortgage: 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.
(3 comments)

obtaining a mortgage: 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)

obtaining a mortgage: 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)

obtaining a mortgage: 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)

obtaining a mortgage: 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)

obtaining a mortgage: 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)

obtaining a mortgage: 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)

obtaining a mortgage: Update on Buying vs.Renting , Lancaster, PA - 01/22/18 04:18 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.   Buying A Home Is More Affordable Than Renting In 54% Of US Counties According to ATTOM Data Solutions’ 2018 Rental Affordability Report, “buying a median-priced home is more affordable than renting a three-bedroom property in 240 of 447 [or 54% of] U.S. counties analyzed for the report.”
For the report, ATTOM Data Solutions compared recently released fair market rent … (3 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

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