http://www.mikeskillman.com/Top-10-Things-to-Do-in-Lancaster-County

http://www.kcmblog.com/2012/01/30/what-does-warren-buffet-think-about-buying-a-home/

Here is another indication that things are improving...December (and November) showed a lower reliance on the entry level homes to carry the market.   Although still the busiest segment of the market, homes selling under the $200,000 price level only accounted for 64% of the number of homes that went under contract and 67% of the number that sold in December, down from the past year average of 70%.  This has helped increase the Average Sales Price from November to December by $9073. 

What's The Going Rate?
RATES ARE STILL VERY LOW….3.75% on a 30 year note.   Here is an example of what the current interest rates (3.75%) can do compared to what is considered the average interest rate (7.0%) for the past 30 years.  Let’s say you can afford a monthly principal and interest payment of $1000.  At the 30 year average interest rate of 7.0%, your $1000 per month could cover a mortgage amount of 150,308.  At today’s current rate of 3.75%, that same $1000 per month could cover a mortgage amount of $216,000.  That is a $65,692 difference in buying power with today’s rates!

Thinking of Buying?
We are starting to see some sustained improvement in the overall economy and in the housing market.  Showing activity is picking up during what is historically considered the slowest time of year.  Curious to know what is currently for sale in your area, click here to receive a Daily Email List of Homes for Sale as they Hit the Market!

Thinking of Selling?
Many people thinking of selling in the near future tend to believe that it is best to wait until warm weather returns before putting their home on the market.  That may be true in years past during better markets, but in the current market, I don’t recommend waiting.  With the interest rates staying so low, buyers would be wise not to wait until the warmer weather to buy.  If you are thinking of selling, now is a great time for us to meet to get things started.  I can walk through your home with you and give suggestions as to how best prepare your home for the market.  Give me a call or Click here to request a Home Value Report.

The segment of the market seeing the most activity continues to be the under $200,000 price level (entry level homes), which accounted for 68% of the number of homes that went under contract and 70% of the number that sold in November.  Because of the high percentage of entry level homes selling, the Average Sale Price in the county continues to drop and in November was $173,123.

What's The Going Rate?
RATES ARE STILL VERY LOW….3.875% on a 30 year note and 3.375% on a 15 year note.  Yes, I did say 3.875% for a 30 year rate!  That’s amazing!  With rates so low and inventory so high, there are some incredible opportunities out there right now!

Thinking of Buying?
Do you have a goal of purchasing a home in 2012?  If so, you may want to get started early in the year.  We are starting to see some sustained improvement in the overall economy and in the housing market.  If this continues I would not be surprised to see interest rates start to rise.  Winter is a great time to be searching for a home because there are fewer buyers to compete against and there is plenty of inventory to choose from.  I’d be happy to help you get the process started.  Give me a call today.  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?
Many people thinking of selling in the near future tend to believe that it is best to wait until warm weather returns before putting their home on the market.  That may be true in years past during better markets, but in the current market, I don’t recommend waiting.  With the interest rates staying so low, buyers would be wise not to wait until the warmer weather to buy.  If you are thinking of selling, now is a great time for us to meet to get things started.  I can walk through your home with you and give suggestions as to how best prepare your home for the market.  Give me a call or Click here to request a Home Value Report.

I gladly welcome any questions/comments you may have about this information.  And please keep me in mind if you come across someone considering buying or selling real estate in Lancaster County.  Referrals make up a large part of my business!  And feel free to pass this post along to anyone you think could benefit from it!
 

http://www.mikeskillman.com/Top-10-Things-to-Do-in-Lancaster-County

Well maintained Cape Cod in great Brickyards location. Flexible floorplan offering an option for a 1st floor Master Bedroom. Very nice sunroom overlooking backyard. Laundry on 1st floor. Two large bedrooms and a bonus room (could be nursery or office) on 2nd floor. Finished walkout lower level with plenty of room for storage. HVAC system only 4 years old.

300 homes sold in Lancaster County in the month of October, up 13% compared to October 2010.  Pending Sales, homes that went under contract, increased 4% in October compared to October 2010.   This is a slight improvement from last month, which has helped lower the overall Supply of Inventory, a key indicator of the overall health of a market.  (4-6 months of Supply is ideal.  October’s Supply was 10.44 months.  It was as low as 2 during the peak of the market in 2005.)  The segment of the market seeing the most activity continues to be the under $200,000 price level (entry level homes), which accounted for 70% of the number of homes that went under contract and 73% of the number that sold in October.  Because of the high percentage of entry level homes selling, the Average Sale Price in the county continues to drop and in October was $175,806.

What's The Going Rate?

RATES ARE STILL VERY LOW….4.25% on a 30 year note and 3.75% on a 15 year note.  These rates are amazing!  With rates so low and inventory so high, there are still some incredible opportunities out there right now!

Thinking of Buying?

If you are thinking about upsizing or downsizing here in Lancaster County, now is as good of a time as any to be looking.  Interest rates and lower home prices are making homes more affordable than they have been in a long time.  If you are currently renting and are thinking about buying your first home, you may be pleasantly surprised with the impact that the low interest rates can have on a monthly mortgage payment.  If you are thinking about buying a home, click here to receive a Daily Email List of Homes for Sale as they Hit the Market!

Thinking of Selling?

Many people thinking of selling in the near future tend to believe that it is best to wait until warm weather returns before putting their home on the market.  That may be true in years past during better markets, but in the current market, I don’t recommend waiting.  With the interest rates staying so low, the buyers won’t all wait until the warmer weather to buy.  Plus, there are still many unknowns as to what the market will be like in 2012.  If you are thinking of selling, now is a great time for us to meet to get things started.  I can walk through your home with you and give suggestions as to how best prepare your home for the market.  Give me a call or Click here to request a Home Value Report.

I gladly welcome any questions/comments you may have about this information.  And please keep me in mind if you come across someone considering buying or selling real estate in Lancaster County.  Referrals make up a large part of my business!  And feel free to pass this email along to anyone you think could benefit from it!

Have a Happy Thanksgiving! 

Read more: http://www.kcmblog.com/2011/11/14/is-there-a-3-8-tax-on-homes-in-the-health-bill/

http://www.mikeskillman.com/Property/2038-Northbrook-Drive-Lancaster-Pennsylvania

 http://www.mikeskillman.com/Top-10-Things-to-Do-in-Lancaster-County

Large One Story Home in Great Neighborhood, Nicely Updated Interior, 3 Large Bedrooms and 2 Full Baths on Main Level, Finished Lower Level with Partial Bathroom. Gas Heat and Central Air. Sunroom and Large Deck with Sunken Hot Tub Overlooking Private Backyard. Walk to Stoner Park!

Read more: http://247wallst.com/2011/10/28/the-american-cities-where-mortgages-are-staying-afloat/#ixzz1cU0FPzob

334 homes sold in Lancaster County in the month of September, down 8% compared to September 2010.  Pending Sales, homes that went under contract, decreased 31% in September compared to September 2010.   Even though these numbers are down quite significantly, the Supply of Inventory still decreased month over month, due to a drop in the number of Listings Available.  The segment of the market seeing the most activity continues to be the under $200,000 market (entry level homes), which accounted for 74% of both the number of homes that went under contract and the number that sold in September.  Because of the high percentage of entry level homes selling, the Average Sale Price in the county continues to drop and in September was $171,170.

What's The Going Rate?

RATES ARE STILL VERY LOW….4.25% on a 30 year note and 3.75% on a 15 year note.  These rates are amazing!  With rates so low and inventory so high, there are some incredible opportunities out there right now!

Thinking of Buying?

Attention RENTERS…Last month I mentioned that had come across a local lender offering a 3% down Conventional loan WITH NO PMI!  PMI (Mortgage Insurance) is normally required on all loans with less than 20%.  PMI rates have been rising and typically cost $50-100 per month.  So this program with no PMI represents a great opportunity to buy a home with little down payment and a monthly payment very comparable to your monthly rent.  Call me for details.

If you are thinking about buying a home in Lancaster County, click here to receive a Daily Email List of Homes for Sale as they Hit the Market!

Thinking of Selling?

Although the numbers I shared above indicate that, in general, our market is still struggling, that does not immediately mean that all sellers considering selling should wait.  In fact, my recommendation is typically quite the opposite.  There are plenty of indications that our market is not yet close to hitting the bottom.  It may take several more years before we get there.  Waiting it out may not be the best option for you, especially if you are planning to buy something else.  Allow me to sit down with you and discuss your situation with you, and together we can figure out when the best time would be for you to consider putting your home on the market.  Give me a call or Click here to request a Home Value Report.

I gladly welcome any questions/comments you may have about this information.  And please keep me in mind if you come across someone considering buying or selling real estate in Lancaster County.  Referrals make up a large part of my business!  And feel free to pass this email along to anyone you think could benefit from it!

An overview: VA mortgages are bundled, securitized and sold in the secondary market with the backing of the Federal Government. In order to insure these mortgages, the government charges a type of insurance premium, called a VA Funding Fee, which is typically added to the loan amount (thereby financed).

Read more: http://kcmblog.com/2011/09/29/some-good-news-for-veterans/