Lancaster County Market Update - April 2012
Thursday, April 19, 2012
The number of homes that went under contract in March 2012 was up 16% compared to March of 2011. This is the now the third consecutive month of double digit increases in this category. Sold Listings also saw double digit increases in March compared to last year. These improved numbers continue to make a difference as I am seeing fewer housing options available for buyers and more showings scheduled for sellers in select markets and price ranges.
What's The Going Rate?
Rates are holding steady….3.875% on a 30 year note. However the cost involved in obtaining a mortgage continues to go up. So far this hasn’t had a negative effect on buyer’s decisions. If rates start to go up though, the higher fees could start to have an impact. Take advantage of the rates while they are so good!
Spring is here! Even if you checked out this series of articles last month when I posted it, you may want to revisit it. There are some new articles posted. Here are some Spring Cleaning Tips that are sure to inspire!
Thinking of Buying?
USDA loans continue to be the most popular option for first-time homebuyers. It requires the least amount of money from buyer’s compared to the other options available. It is only available in certain areas though. Manheim Twp, Millersville and most of Hempfield don’t qualify, but Lititz, Ephrata, Mount Joy, Manheim, Leola, Strasburg and surrounding areas do. USDA’s rate right now is 3.75%. Call me if you’d like more information. If you are curious to know what is currently for sale, Click here to receive a Daily Email List of Homes for Sale as they Hit the Market!
Thinking of Selling?
As I have been sharing with you for some time now, there is good reason to believe that we haven’t reached the bottom of the housing downturn quite yet, even though the past few months have been better than we’ve seen in quite some time. The reason for concern?...Another wave of foreclosures that has yet to hit the market. It is expected to hit sometime this summer. If you are thinking about selling, now is a great time to beat this next wave and get your house sold before the foreclosure market picks up speed. Give me a call or Click here to request a Home Value Report.