penn manor 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their own homes dream of the day when they will be able to paint the walls whatever color they’d like, or renovate an outdated part … (7 comments)

penn manor real estate news: Scarcity is Dominating Lancaster, PA Market in 2018 - 01/25/18 07:36 AM
If You’re Considering Selling, ACT NOW!! Definitely an aggressive headline. However, as the final data on the 2017 housing market rolls in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!
How did we finish 2017? New-home sales were at their highest level in a decade. Sales of previously owned homes were at their highest level in more than a decade. Starts of single-family homes were their strongest in a decade and applications to build such properties advanced to the fastest pace since August 2007. And Bloomberg Business just reported:
“America’s housing … (0 comments)

penn manor 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)

penn manor real estate news: Important Skill Lancaster,PA Buyer Agents Possess - 01/23/18 05:22 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.   Why You Need a Professional on Your Team When Buying Your Next Lancaster Home Many people wonder whether they should hire a real estate professional to assist them in buying their dream homes or if they should first try to go through the buying process on their own. In today’s market: you need an experienced professional!
You … (1 comments)

penn manor real estate news: 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)

penn manor real estate news: Will the New Tax Changes Affect My Property Value? - 01/18/18 04:34 AM
What Impact Will the New Tax Code Have on Home Values? Every month, CoreLogic releases its Home Price Insights Report. In that report, they forecast where they believe residential real estate prices will be in twelve months.
Below is a map, broken down by state, reflecting how home values are forecasted to change by the end of 2018 using data from the most recent report.

As we can see, CoreLogic projects an increase in home values in 49 of 50 states, and Washington, DC (there was insufficient data for HI). Nationwide, they see home prices increasing by 4.2%.
How might the … (4 comments)

penn manor real estate news: How Much Downpayment Do I Need in Lancaster , PA ? - 01/17/18 05:25 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.   61% of First-Time Buyers Put Down Less than 6% According to the National Association of Realtors’ latest Realtors Confidence Index, 61% of first-time homebuyers purchased their homes with down payments below 6% from October 2016 through November 2017.
Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have … (3 comments)

penn manor real estate news: When is the Best Time to Buy a Lancaster,PA Home ? - 01/16/18 04:47 AM
Wondering If You Can Buy Your First Home? There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they are married and have a family, others might think they are too young, and still, others might think their current income would never enable them to qualify for a mortgage.
We want to share what the typical first-time homebuyer actually looks like based on the National Association of REALTORS most recent Profile of Home Buyers & Sellers. Here … (3 comments)

penn manor real estate news: Should I List My Lancaster,PA Property Today ? - 01/15/18 06:14 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.   Thinking of Selling? Now is the Perfect Time It is common knowledge that a great number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is whether or not that will be a good strategy this year.
The other … (2 comments)

penn manor real estate news: Why Lancaster,PA Sellers Stage Their Homes ! - 01/12/18 07:41 AM
The Impact Staging Your Home Has on Sales Price Some Highlights: The National Association of Realtors surveyed their members & released the findings of their Annual Profile of Home Staging. 50% of staged homes saw a 1-10% increase in dollar value offers from buyers. 77% of buyer’s agents said staging made it easier for buyers to visualize the home as their own. The top rooms to stage in order to attract more buyers are the living room, master bedroom, kitchen, and dining room.  Email mikeperrykw@gmail.com to learn more about Staging your home.   … (3 comments)

penn manor real estate news: Lancasterians Believe in Home Ownership ! - 01/12/18 07:37 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. In Lancaster County, PA  ..... 93% Believe Home Ownership Is Important in Attaining the American Dream  Americans continue to believe that homeownership is important in achieving the American Dream. A recent survey by NeighborWorks America reported that:
“Owning a home remains a core element of the American Dream.”
When asked “How important a part of the … (3 comments)

penn manor real estate news: Will a Low FICO Score Keep Me From Buying in Lancaster,PA ? - 01/12/18 07:34 AM
FICO® Scores on Approved Home Loans Drop Again According to Ellie Mae’s latest Origination Report, the average FICO® Score on all closed loans dropped to 722 which is its lowest mark since April. The average includes all approved refinance and purchase loans.
FHA and VA loans showed the most opportunity for millennials looking to enter the market with low down payments and even lower FICO® Score requirements.
Ellie Mae’s Millennial Tracker revealed that those who purchased homes in December with an FHA Loan were able to do so with an average down payment of 4% and a FICO® Score of only … (3 comments)

penn manor real estate news: Shortage of Resale Housing Continues in Lancaster,PA ! - 01/11/18 03:55 AM
The Impact of Tight Inventory on Lancaster's Housing Market The housing crisis is finally in the rearview mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. It seems that the market will continue to strengthen in 2018.
However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up.
Here … (3 comments)

penn manor real estate news: Lancaster Co.,PA Homes Gaining More Equity ! - 01/09/18 07:51 AM
712,000 Homes in the US Regained Equity in the Past 12 Months! CoreLogic’s latest Equity Report revealed that “over the past 12 months, 712,000 borrowers moved into positive equity.” This is great news, as the share of homeowners with negative equity (those who owe more than their home is worth), has dropped more than 20% since the peak in Q4 of 2009 (26%) to 4.9% today.
The report also revealed:
The average homeowner gained approximately $14,900 in equity during the past year. Compared to Q3 2016, negative equity decreased 22% from 3.2 million homes, or 6.3% of all mortgaged properties. U.S. … (0 comments)

penn manor real estate news: Cold Weather Won't Stop Lancaster, PA Home Sellers ! - 01/08/18 06:00 AM
4 Reasons to Sell This Winter Some Highlights: Buyer demand continues to outpace the supply of homes for sale which means that buyers are often competing with one another for the few listings that are available! Housing inventory is still under the 6-month supply needed to sustain a normal housing market. Perhaps the time has come for you and your family to move on and start living the life you desire.  Update your Current Market Value with a FREE RPR Report . Email mikeperrykw@gmail.com to get started.   … (5 comments)

penn manor real estate news: Lancaster, PA Homes Flying Off the Shelves ! - 01/05/18 06:33 AM
Time on the Market Drops to New Low in 2017 According to recently released data from the National Association of Realtors (NAR), the median amount of time a home spent on the market hit an all-time low of only three weeks in 2017.
Strong buyer demand, a good economy, and a low inventory of new and existing homes for sale created the perfect storm to accelerate the time between listing and signing a contract. The time needed to sell a home has dropped substantially since its highest mark of 11 weeks in 2012.
The chart below shows the median weeks on … (2 comments)

penn manor real estate news: Why Should I buy a Lancaster,PA Home ? - 01/03/18 05:09 AM
The Benefits of Owning a Lancaster Home Go Beyond the Financial Homeownership is a major part of the American Dream. As evidence of that, 91% of Americans believe that owning a home is either essential (43%) or important (48%) to achieving that “dream.” In a market where some people may be unsure about the benefits and possibilities of buying a home, it is important that we remember this.
Homeownership is NOT just about the money. In fact, some of the major benefits are non-financial. Here are a few of those benefits as per the National Association of Realtors:
Consistent findings show that homeownership … (3 comments)

penn manor real estate news: Your Lancaster,PA Home Increases Your Net Worth ! - 01/02/18 10:56 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.   How Rising Prices Will Help You Build Family Wealth in 2018 Over the next five years, home prices are expected to appreciate on average by 3.35% per year and to grow by 24.34% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.
So, what does this mean for homeowners and their equity position? As an example, let’s assume … (0 comments)

penn manor real estate news: Are Lancaster Co., PA Homes Appreciating in 2018 ? - 12/29/17 08:26 AM
There’s More to a Bubble Than Rising Home Prices What truly causes a housing bubble and the inevitable crash? For the best explanation, let’s go to a person who correctly called the last housing bubble – a year before it happened.
“A bubble requires both overvaluation based on fundamentals and speculation. It is natural to focus on an asset’s fundamental value, but the real key for detecting a bubble is speculation…Speculation tends to chase appreciating assets, and then speculation begets more speculation, until finally, for some reason that will become obvious to all in hindsight, the ‘bubble’ bursts.
I have taken … (0 comments)

penn manor real estate news: Why Do Lancaster,PA Residents Buy a Home ? - 12/29/17 08:18 AM
Top 4 REAL Reasons We Buy a Lancaster Home We often talk about the financial reasons why buying a home makes sense. But, more often than not, the emotional reasons are the more powerful or compelling reasons.
No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones.
1. Owning your home offers stability to start and raise a … (5 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

Office: (717) 735-1145

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