Explore Lancaster, PA

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 1
Percentage of Homeownership by Decade and by State There has been a lot of talk about the falling homeownership rate in the United States. In December 2004, the homeownership rate reached an all-time high of 69.4%, while the current rate is 62.9%. When comparing these two figures, there is some r...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 1
What to Expect When Home Inspecting So you made an offer, it was accepted, and now your next task is to have the home inspected prior to closing. More often than not, your agent may have made your offer contingent on a clean home inspection. This contingency allows you to renegotiate the price pa...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 4
Buying is Now 37.7% Cheaper Than Renting in the US The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The updated numbers actually show t...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 1
Sales of Distressed Properties Hit New Low The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report revealing that distressed property sales accounted for 4% of sales in September. This is down from 7% in 2015, and is the lowest figure since NAR began t...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 3
7 Graphs That Show the Real Estate Market is Back! [INFOGRAPHIC] Some Highlights: Distressed property sales fell to its lowest number since NAR began tracking it in 2008. As you can see, with less distressed properties, sales are up in all price ranges except the $0 - $100K price range. Interest ...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 1
The ‘Great News’ About Rising Prices Recently there has been a lot of talk about home prices and if they are accelerating too quickly. In some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers out looking for a home, which has caused prices to rise. The...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 2
Starting to Look for a Home? Know What You WANT vs. What You NEED In this day and age of being able to shop for anything anywhere, it is really important to know what you’re looking for when you start your home search. If you’ve been thinking about buying a home of your own for some time now, you...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 3
How Historically Low Interest Rates Increase Your Purchasing Power According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.47%. Rates have remained at or below 3.5% each of the last 16 weeks, marking a historic low. The...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 4
Don’t Disqualify Yourself… Over Half of All Loans Approved Have a FICO Score Under 750 The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market. One such study ...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 4
Do You Know the Cost of Renting vs. Buying? [INFOGRAPHIC] Some Highlights: Historically, the choice between renting or buying a home has been a close decision. Looking at the percentage of income needed to rent a median priced home today (30%) vs. the percentage needed to buy a median priced home...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 2
Appraisers & Homeowners Don’t See Eye-To-Eye on Values 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 5%+ over the next twelve months. One major challenge in ...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 3
3 Questions to Ask Before Buying Your Dream Home If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real e...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 2
The Role Access Plays in Getting Your House SOLD! So you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process and they have asked you what level of access you want to provide to potential buyers. There are four elements to a quality listing. A...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 1
The Past, Present & Future of Home Prices CoreLogic released their most current Home Price Index last week. In the report, they revealed home appreciation in three categories: percentage appreciation over the last year, over the last month and projected over the next twelve months. Here are state...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 1
Mortgage Rates by Decade Compared to Today [INFOGRAPHIC] Some Highlights: The interest rate you secure for your mortgage greatly influences your monthly housing costs. In the 1980s, 30-year fixed mortgage rates averaged in the high 12s making the monthly principal and interest payment over $2,000...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 1
Why We Need More Newly Constructed Homes The number of new home sales is far off historic norms. The National Association of Realtors (NAR) just reported that the percentage of all house sales that were newly constructed homes has fallen to the lowest numbers in forty years. Here is a graph showi...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 2
Have You Put Aside Enough for Closing Costs? There are many potential homebuyers, and even sellers, who believe that you need at least a 20% down payment in order to buy a home, or move on to their next home. Time after time, we have dispelled this myth by showing that there are many loan program...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 1
Strong Buyer Demand Continues to Outpace Inventory of Homes for Sale The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, pri...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 3
Think You Should FSBO? 5 Reasons to Think Again! 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 ide...

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Comments 3
Home Sales Expected to Increase Nicely in 2017Lack of Existing Home Sales Inventory Impacting Sales [INFOGRAPHIC] Some Highlights: Existing home inventory is down 10.1% from last year. A lack of inventory explains the modest increase in home sales (0.8% year-over-year) despite strong buyer demand...

Lancaster, PA Real Estate Professionals