west lampeter real estate news: Lancaster Home Prices Scheduled to Appreciate ! - 10/30/18 05:21 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.   Where Lancaster Values are Headed over the Next Few Years? There are many questions about where home prices will be next year as well as where they may be headed over the next several years to come. We have gathered the most reliable sources to help answer these questions:
The Home Price Expectation … (6 comments)

west lampeter real estate news: 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)

west lampeter real estate news: Has Lancaster's housing been affected by Tax Changes ? - 05/29/18 05:57 AM
5 Ways Tax Reform Has Impacted Lancaster's Housing Market Starting late last year, some predicted that the 2018 tax changes would cripple the housing market. Headlines warned of the potential for double-digit price depreciation and suggested that buyer demand could drop like a rock. There was even sentiment that homeownership could lose its coveted status as a major component of the American Dream.
Now that the first quarter numbers are in, we can begin to decipher the actual impact that tax reform has had on the real estate market.
1. Has tax reform killed off home buyer demand? The answer is “NO.” … (1 comments)

west lampeter real estate news: More Buyers than Homes in Lancaster , PA ! - 05/29/18 05:48 AM
 
 
 
Drop in Inventory Fuels Sales Slowdown in Lancaster ? Some Highlights: Existing Home Sales are now at an annual pace of 5.46 million. Inventory of existing homes for sale dropped to a 4-month supply, marking the 35th month in a row of declines. The median price of homes sold in April was $257,900. This is the 74th consecutive month of year-over-year price gains.  Sellers - Now is clearly the time to obtain TOP DOLLAR for your property . TEXT me (717-951-9933) to receive a Pre-Listing Packet    … (2 comments)

west lampeter real estate news: 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)

west lampeter real estate news: How should a Veteran buy a Lancaster, PA Home ? - 05/09/18 04:50 AM
VA Loans by the Historical Numbers , Lancaster, PA  Some Highlights: Since the creation of the VA Home Loans Program, 22 million veterans have been able to achieve the American Dream of homeownership. In 2017, $188 billion was loaned to veterans and their families through the program. VA Purchase Loans are on the rise in 46 out of 50 states and Washington, DC.   Vets, your first step is obtaining Mortgage Pre- Approval ! Text me to get started !
     … (1 comments)

west lampeter real estate news: 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)

west lampeter 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)

west lampeter real estate news: 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)

west lampeter 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)

west lampeter real estate news: End the Rent Cycle in Lancaster, PA ! - 03/31/18 04:49 AM
The Cost of Renting vs. Buying Today in Lancaster 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 (28.9%) vs. the percentage needed to buy a median-priced home (15.7%), 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!    Your first step to end the Rent Cycle is obtaining Mortgage Pre-Approval .    Email  mikeperrykw@gmail.com  to get started !
    … (5 comments)

west lampeter real estate news: Too Many Buyers in Lancaster, PA ? - 03/27/18 11:54 AM
Buyer Demand Still Outpacing the Supply of Homes for Sale The price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.
Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).
Buyer Demand The map below was created after asking the question: “How would you rate buyer traffic in your area?”

The darker the blue, the stronger the demand for homes in that area. Only four … (1 comments)

west lampeter 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:
(1 comments)

west lampeter 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)

west lampeter real estate news: 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)

west lampeter 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)

west lampeter real estate news: Lancaster,PA Housing is Increasing at What Percentage ? - 03/09/18 07:49 AM
 
Home Prices: The Difference 5 Years Makes The economists at CoreLogic recently released a special report entitled, Evaluating the Housing Market Since the Great Recession. The goal of the report was to look at economic recovery since the Great Recession of December 2007 through June 2009.
One of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from December 2012 to December 2017 to show how prices over the last five years have fared.
Frank Nothaft, Chief Economist at CoreLogic, commented on the importance of breaking … (2 comments)

west lampeter real estate news: Lancaster's Housing Market will Spring Forward - 03/09/18 07:47 AM
Housing Market Expected To “Spring Forward” This Year in Lancaster,PA Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.
Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.
Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions.
That hasn’t happened … (0 comments)

west lampeter real estate news: New Inventory in Lancaster,PA 's Home Market ? - 03/06/18 08:54 AM
 
Competition is Coming, Are You Thinking of Selling Your Lancaster Home? The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.4% over last year.
How will this impact buyers? More inventory means more options. Lawrence Yun, NAR’s Chief Economist, explained this is good news for the housing market – especially for those looking to buy:
“This rise in … (3 comments)

west lampeter real estate news: How Much are Lancaster,PA Homes Really Appreciating ? - 03/02/18 08:47 AM
 
  Are Lancaster's Home Values Really Overinflated? Last week, the National Association of Realtors (NAR) released their most recent Existing Home Sales Report. According to the report:
“The median existing-home price for all housing types in January was $240,500, up 5.8 percent from January 2017 ($227,300). January’s price increase marks the 71st straight month of year-over-year gains.”
Seventy-one consecutive months of price increases may have some concerned that current home values may be overinflated.
However, at the same time, Zillow issued a press release which revealed:
“If the housing bubble and bust had not happened, and home values had instead appreciated … (4 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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