penn manor real estate news: Move Up Buyers Abound in Lancaster Co., PA ! - 01/12/17 05:36 AM
Is This the Year to Move Up to Your Dream Home? If So, Do it Early
It appears that Americans are regaining faith in the U.S. economy. The following indexes have each shown a dramatic jump in consumer confidence in their latest surveys:
The University of Michigan Consumer Sentiment Index National Federation of Independent Businesses' Small Business Optimism Index CNBC All-America Economic Survey The Conference Board Consumer Confidence Survey It usually means good news for the housing market when the country sees an optimistic future. People begin to dream again about the home their family has always wanted, and some make … (1 comments)

penn manor real estate news: What are Boomers buying in Lancaster Co., PA ? - 01/11/17 09:43 AM
Top 3 Things Second-Wave Baby Boomers Look for in a Home
According to data from the U.S Census bureau, there are approximately 76.4 million baby boomers living in the United States today. Contrary to what many think, there are very different segments within this generation, and one piece that sets them apart are their housing needs.
John McManus, editorial director of Hanley Wood’s Residential Group says his company “is focusing on the preferences of the younger half, or second-wave baby boomers, as they exhibit different needs than the older boomers.”
What are ‘second-wave baby boomers’ looking for? McManus says, “They are … (1 comments)

penn manor real estate news: Do you need an Agent to buy a Home, Lancaster Co.,PA ? - 01/10/17 11:43 AM
You Need a Professional on Your Team When Buying a Home
Many people wonder whether they should hire a real estate professional to assist them in buying their dream home or if they should first try to do it on their own. In today’s market: you need an experienced professional!
You Need an Expert Guide if You Are Traveling a Dangerous Path The field of real estate is loaded with land mines; you need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and is ready for you to move … (1 comments)

penn manor real estate news: Why Some Properties aren't selling in Lancaster Co. , PA - 01/09/17 01:00 PM
If Your Home Hasn’t Sold Yet… Check the Price!
The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pace since February 2007. Demand has remained strong throughout the winter as many real estate professionals are reporting bidding wars with many homes selling above listing price. What about your house?
If your house hasn’t sold, it is probably because of the price. If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the … (2 comments)

penn manor real estate news: Lancaster Co., PA Buyers are doing these 3 Things ! - 01/06/17 06:45 AM
3 Tips for Making Your Dream of Buying a Home Come True [INFOGRAPHIC]
Some Highlights: Realtor.com recently shared “5 Habits to Start Now If You Hope to Buy a Home in 2017.” Setting up an automatic savings plan that saves a small amount of every check is one of the best ways to save without thinking a lot about it. Living within a budget now will help you save money for down payments and pay down other debts that might be holding you back. Buyers , your first step in entering the 2017 Housing Market is to obtain Mortgage Pre-Approval  ! … (4 comments)

penn manor real estate news: Millionaire tells Lancaster,PA Millennials to Buy Now ! - 01/05/17 05:58 AM
Millionaire to Millennials: Buy a Home!!
Last week, CNBC ran an article quoting self-made millionaire David Bach explaining that not purchasing a home is "the single biggest mistake millennials are making" 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 … (0 comments)

penn manor real estate news: How are Properties Appreciating in Lancaster Co., PA ? - 01/04/17 06:02 AM
Year-Over-Year Price Appreciation Reaches Double Digits in 5 Price Categories
The National Association of Realtors’ most recent Existing Home Sales Report revealed that, compared to last year, home sales are up dramatically in five of the six price ranges they measure.
Homes priced between $100-250K showed a 20.7% increase year-over-year. This is an impressive increase, showing that November was an excellent month for home sales in this price range.
But surprisingly, the 20.7% increase in sales in this range was not the highest percent change achieved, as sales of homes over $250,000 increased by double-digit percentages with sales in the $750,000- $1 million range showing the … (3 comments)

penn manor real estate news: Why are Prices Increasing in Lancaster Co. , PA ? - 01/03/17 07:34 AM
Inadequate Inventory Driving Prices Up
The latest Existing Home Sales Report from the National Association of Realtors (NAR) revealed a direct correlation between a lack of inventory and rising prices.
We are all familiar with the concept of supply and demand. As the demand for an item increases the supply of that same item goes down, driving prices up.
Year-over-year inventory levels have dropped each of the last 18 months, as inventory now stands at a 4.0-month supply, well below the 6.0-month supply needed for a ‘normal’ market.
The median price of homes sold in November (the latest data available) was … (4 comments)

penn manor real estate news: Real Estate will do well in 2017, Lancaster Co., PA ! - 01/02/17 05:30 AM
Here’s to a Wonderful 2017!
We hope 2017 is a great year for you, both personally & professionally.     All signs point to 2017 as being a very good year for eal estate .   Mortgage rates will be below 5%  and there are still many buyers   who are hoping to find a new home in 2017 , Sellers will also experience   very good appreciation of their property's value  !  Email       mikeperrykw@gmail.com  to update your Current Market Value .  
  … (3 comments)

penn manor real estate news: Can FSBO's Succeed in Lancaster Co., PA ? - 01/01/17 06:04 AM
Top 5 Reasons You Should Not For Sale By Owner
In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.
Here are the top five reasons:
1. Exposure to Prospective Buyers Recent studies have shown that 94% of buyers search online for a home. That is in comparison to only 17% looking at print newspaper ads. Most real … (1 comments)

penn manor real estate news: Lancaster, PA REALTORS help you with these 5 skills ! - 12/30/16 08:39 AM
5 Reasons to Resolve to Hire a Real Estate Professional [INFOGRAPHIC]
Some Highlights: As we usher in the new year, one thing is for certain… if you plan to buy or sell a house this year, you need a real estate professional on your team! There are many benefits to using a local professional! Pick a pro who knows your local market and can help you navigate the housing market! Interview  several Agents  before signing an Employment Contract for  Representation exclusively with just one agent ! Email mikeperrykw@gmail.com  for more detail .  
   … (1 comments)

penn manor real estate news: Put Your Property on the Market Now , Lancaster, PA ! - 12/29/16 08:14 AM
Start 2017 Off Right… List Your House for Sale
As we are about to bring in the New Year, families across the country will be deciding if this is the year that they will sell their current house and move into their dream home. Many will decide that it is smarter to wait until the spring “buyer’s market” to list their house. In the past, that might have made sense. However, this winter is not like recent years.
The recent jump in mortgage rates has forced buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!! … (0 comments)

penn manor real estate news: Home Ownership = Net Worth in Lancaster, PA ! - 12/27/16 06:37 AM
Homeowner’s Net Worth Is 45x Greater Than A Renter’s
Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).
In a Forbes article, the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun predicts that by the end of 2016, the net worth gap will widen even further to 45 times greater.
The graph below demonstrates the results of the last two … (2 comments)

penn manor real estate news: Holidays do not Slow Down Lancaster, PA Housing Market ! - 12/23/16 08:58 AM
Existing Home Sales Surge Through The Holidays [INFOGRAPHIC]
Some Highlights: November’s Existing Home Sales report revealed that sales are now at an annual pace of 5.61 million which is “now the highest since February 2007 (5.79 million) and is 15.4% higher than a year ago (4.86 million).” Total housing inventory (or the inventory of homes for sale) fell 8.0% from last month and is now 9.3% lower than November 2015. Inventory has dropped year-over-year for the last 18 months. The median price for all home sales in November was $234,900, up 6.8% from last year and marks the 57th consecutive month … (0 comments)

penn manor real estate news: Will the FED keep me from Buying, Lancaster Co.,PA ? - 12/22/16 07:49 AM
The Fed Raised Rates: What Does that Mean for Housing?
You may have heard that the Federal Reserve raised rates last week… But what does that mean if you are looking to buy a home in the near future?
Many in the housing industry have predicted that the Federal Open Market Committee (FOMC), the policy-making arm of the Federal Reserve, would vote to raise the federal fund's target rate at their December meeting. For only the second time in a decade, this is exactly what happened.
There were many factors that contributed to the 0.25 point increase (from 0.50 to 0.75), … (2 comments)

penn manor real estate news: Will Student Debt Keep me from Buying , Lancaster,PA ? - 12/21/16 03:41 PM
Student Loans = Higher Credit Scores
According to a recent analysis by CoreLogic, Millennial renters (aged 20-34) who have student loan debt also have higher credit scores than those who do not have student loans.
This may come as a surprise, as there is so much talk about student loans burdening Millennials and holding them back from many milestones that previous generations have been able to achieve (i.e. homeownership, investing for retirement).
CoreLogic used the information provided on rental applications and the applicants’ credit history from credit bureaus to determine if there was a correlation between student loan debt and credit … (5 comments)

penn manor real estate news: Rent pays for Other's Mortgage in Lancaster Co., PA ! - 12/20/16 09:48 AM
Whether You Rent or Buy: Either Way You’re Paying a Mortgage
There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage - either yours or your landlord’s.
As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.
Are you … (5 comments)

penn manor real estate news: How do I get Top Dollar for my Lancaster Co.,PA House ? - 12/19/16 06:07 AM
2 Tips to Ensure You Get the Most Money When Selling Your House
Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring 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 house … (2 comments)

penn manor real estate news: Should I wait until Spring to sell my Lancaster,PA Home ? - 12/18/16 07:06 AM
The #1 Reason to Sell Now… Not Next 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 2016:

Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense.
Bottom … (4 comments)

penn manor real estate news: Can I Still Afford to Buy a Home , Lancaster Co., PA ? - 12/17/16 04:47 AM
The Impact Your Interest Rate Has on Your Buying Power [INFOGRAPHIC]
Some Highlights:
Your monthly housing cost is directly tied to the price of the home you purchase and the interest rate you secure for your mortgage. Over the last 30 years, interest rates have fluctuated greatly with rates in the double digits in the 1980s, all the way down to the near 4% we are experiencing now. Your purchasing power is greatly impacted by the interest rate you secure. Act now before rates go up! Home Buyers , interest rates are still very attractive !  Your first step is obtaining … (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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