We have been hearing about changes to FHA loans for a while, and according to the information we received at our company meeting today these changes will be coming into effect before too long.  Many of your readers out there might not know much about FHA loans.  The basics of the loan are that it's a loan that is available with little money down.  In this day and age when nobody seems to have cash, this loan is pretty much the bread and butter of the housing market.  Currently an FHA loan requires 3.5% down.  The only loan that requires less down is a USDA rural housing loan, which is harder to qualify for and requires the home to be located in an area deemed rural by the USDA.  FHA loans also have regulated mortgage insurance premiums, which make them more appealing than a 5-10% down c... 01/06/2010

$6500.00 isn't nearly enough incentive for existing home owners. When you look at the costs associated with selling even an average priced home I just don't see how this is enough money to entice anyone to sell and trade up, or downsize. Consider the costs associated with the sale of a house. In Gettysburg, PA you'll pay 1% transfer tax, 6% commission (could be more or less) at minimum to sell your house. This doesn't even take into consideration anything that might arise on a home inspection. What if you need a survey? I suppose many of you are starting to see my point. So, lets say you're saying well I could afford to spend 7% to trade up into a house considering the rates are still down. Hey great but don't forget you'll be paying closing costs on your new home as well. If you're bu... 01/06/2010

I've been preaching that rates are going to start to climb for a while now, well guess what, they have.  The fantastic rates we were seeing over the past few months are one of the things we are likely going to leave back in 2009.  The government is running out of funds to buy mortgage backed securities (mortgages).  What does this mean for the consumer?  It means that rates are going to climb.  When the government was buying the loans they were buying them at very low profit margin.  In fact at much lower returns than most investors are willing to accept.  As the government runs out of funds to purchase at low rates, the rates will rise accordingly.  I'm not an economist but I expect a slow steady climb of interest rates over the next few months.  So again I ask what does this mean for ... 01/05/2010

Gettysburg’s Colt Park Neighborhood Teems with History   Visiting the neighborhood of Colt Park in Gettysburg Pennsylvania one would not know how much the neighborhood is steeped in history. The actual ground sits on the edge of the historic Bliss farm, and was where Generals Pettigrew and Trimble commanded troops during the battle of Gettysburg. The housing development sits on the edge of the Gettysburg National Military Park.   The neighborhood is named for Camp Colt, which was established in 1917 as a training camp for the new U.S. Army Tank Corps during World War I. The camp included barracks, workshops, and firing ranges. At that time approximately 15,000 men trained with two French tanks under the command of Captain Dwight D. Eisenhower. This was Eisenhower’s first independent com... 01/05/2010

A lot of people end up with a real estate agent because they called a number from a sign and someone answered the phone.  This person showed them a house had them sign a buyer agency agreement and are now representing them as their buyer agent.  This is probably the most common scenario, but what do you know about your agent?  Is this agent reputable? How much experience do they have?  When choosing a buyer agent considering doing some research, or read blogs like this one.  Look for people who proven that they have knowledge in all areas.  If you're purchasing a foreclosure you are going to want an agent that is familiar with the typical obstacles associated with a foreclosure.  If you're a first time buyer you will want an agent that is familiar with first time buyer financing.  The R... 01/03/2010

The dropping of the blinking, shining, LED covered New Years ball officially launched us into 2010.  This year, more so than any year this decade felt like a sigh of relief as we moved into the new year.  There is something in the air.  People want change.  There is a calm, quiet feel of rising confidence.  Younger generations are digging their feet in, not accepting the current economic conditions are refusing to be ruled by old school thought processes.  We are technologically savvy, we are educated, and we are driven. We have the ability to effect change, to create new energy and to bring our historic town out of the past.  While it might seem ironic to talk about bringing a historic town out of the past, its simple evolution.  Recently I read an article in the Gettysburg Times that ... 01/03/2010

I had written a blog a while back about a 1 mil increase in the Gettysburg Borough taxes.  This has indeed come to fruition.  I received my mortgage bill for December and the payment increase was roughly 50.00/ month.  Now I escrow my taxes and insurance.  This means that I pay money into my mortgage company each month to cover taxes and insurance.  When the bills come due, I've paid the money forward to the mortgage company to cover those bills.  The reasoning behind this is to avoid getting bills in with large lump sums.  It helps people be a bit more responsible and not get shocked by huge tax or insurance bills. If you don't escrow your taxes, be prepared for a larger bill early in 2010.  The municipal bills run Jan 1 to Dec. 31.  So these bills come out in March or April, sometimes... 12/22/2009

Gettysburg, PA is well known for pretty much two things.  It's the  home of the Battle of Gettysburg, which marked the end of the Civil War.  It's also the home of Gettysburg College.  With in the borders of Gettysburg there are many hidden treasures.  There are a number of small shops also restaurants with great food. Among those hidden treasures is The Roman Inn Pizza and Sub Shoppe.  Mr. Mike Frank the owner brought the New Jersey pizza sub shop experience to Gettysburg, PA.  He, like many others, came to Gettysburg and realized that the town had a lot to offer.  Fortunately for us, Mike had a lot to offer Gettysburg as well. The Roman Inn features the absolute best subs in Gettysburg.  The meat is fresh sliced, and piled high.  "It's not a good sub if you can close the bread," says... 12/08/2009

Yesterday I wrote a blog about First Friday in Gettysburg, PA.  I started searching for information online about the event and came up with very little, if anything about the event.  Last night I went out in and effort to get to the bottom of what First Friday in Gettysburg was all about.  The information online simply stated that First Friday was an opportunity for local businesses to have open houses, guest artists and writers, and light refreshments. After my experiences last night I can tell you that First Friday in Gettysburg, PA is a fantastic event.  It was as much a social event as it was an chance for Gettysburg's local businesses to share with the community.  Many of the stores had discounts for that day only.  Just Jennifer was 25% off for the whole store.  The stores were f... 12/05/2009

The day after Thanksgiving each year, the Gettysburg square is decorated with a large Christmas tree. The nearby streets are decorated with wreathes with red bows and Christmas lights. Our quaint historic town looks very welcoming and festive this time of year. It's really a great time of year to enjoy Gettysburg. It's also a time of year where the town is free of tourist traffic and at some point college students. Our town thrives because of these two income sources, but everything slows down a bit around Christmas time. It's a great time to visit to enjoy the sites and all of what Gettysburg has to offer. The first picture is of the Pub restaurant which looks fantastic every single year. They really decorate it nicely. The second two shots are of the Christmas tree in the square. Behi... 12/05/2009

The First Friday of every month is an opportunity for Gettysburg's local businesses to host special open house receptions.  The event is focused primarily in the Gettysburg's rich historic district.  Typically about 25 different businesses participate.  The participating businesses will be denoted with the First Friday flag.  Many of the businesses will have special guests like artists, authors, and so on.  The open house style of this event also lends itself to refreshments to include wine and cheese in some venues.  Many of the businesses will also extend their hours on First friday (until 8pm).  This weekend each month brings additional people into town to support local business.  I hope to have a more in depth outlook on First Friday next month.  There is little information or pictu... 12/04/2009

The Preserves at Cumberland Village by Summit Homes is located in Gettysburg, PA. The community is nestled about 2 miles outside of Gettysburg. It's situated very close to the many civil war attractions Gettysburg has to offer.  Gettysburg also provides a large number of quality restaurants and activities for all ages.  The community is tailored toward Active Adults.  There are 12 different floor plans to choose from, each of which provides luxurious single family living.  There is also a semi-detached villa that provides 1.5 story living but maintains a first floor master suite.  Homes in this neighborhood having been moving fast.  The quality craftsmanship and niche market have really contributed to the success of the Preserves at Cumberland Village.  If you are interested in purchasi... 12/01/2009

With the market being a bit tricky these days and with all the new legislation it got me thinking about the CMA's I'm working on.  I'm looking for comps that are less than 6 months old, which aren't always easy to find.  Then I'm looking for properties that are actually similar besides sq footage, also a difficult task at times. I would like to first say that I don't doubt my ability to do a CMA and price something correctly.  I must however ask the question.  Would it be beneficial to Sellers to have an Appraisal done prior to listing? I was looking at the price of an appraisal and just wondering how many problems an ACTIVE appraisal could potentially solve.  Sometimes this appraisal can even be used by the buyers lending institution.  It would certainly decrease the time from contract... 11/30/2009

Dogs, You Will Live Longer and Better Dogs, You Will Live Longer and Better    Yeah that's him, my big guy, my go to guy, my best friend, that's for sure. This is him before we both retired from re-enacting here in Gettysburg, Pa. He was the unit's loyal and trusted mascot. In fact one of the unit's artillery pieces was named after him, so he can still be heard barking during re-enactments.   Studies have shown that owning and caring for a dog increases our age, and our quality of life. While I am fortunate to have a home and yard large enough to accommodate my big lug, what about those that think that their home is too small to get a dog. Let's concentrate on the positive, and leave the negative for someone else to dwell on. Consider a smaller dog; small dogs have their own personaliti... 11/29/2009

A friend and sports writer for the Gettysburg Times, Adam Michael put the following together.  The Artists are all guys I went to high school with.  I've yet to see them perform live, but tonight might be the night.  They will be performing at the Ragged Edge Coffee house at 7.  If you don't know where that is in Gettysburg, It's located at the corner (almost) of Chambersburg and Washington St right in the heart of Gettysburg. Adam, the writer of the following is a very talented sportswriter.  Beyond sports he has an incredible knowledge of hip hop, rap, and the like, but I'm sure you'll notice that when you start reading.  If you're local come out and support some local talent.  The show is FREE.   Here is a link to the Article but I copied the text portion below.   Gettysburg’s first ... 11/28/2009

PHOTO GALLERY DESCRIPTION AND FEATURES Beautifully upgraded rancher on 1.63 acres. New kitchen with stainless steal appliances. Hardwood floors throughout. Wood burning fireplace in Living room. Rear deck with propane fireplace. Fantastic setting, and easy commute to MD. This house will not last long. Bedrooms:3Bathrooms:2Parking Spaces:3Square Feet:1548Lot Size:1.63Year Built:1939Floors:1MLS #:20910720 LOCATION Click to view map: 2380 Emmitsburg Rd. Gettysburg PA 17325 11/21/2009

Courtesy of www.Gettysburgmuseum.com I grabbed the quick history of the Remembrance Day Parade.  The 2009 parade will be held November 21, 2009 at 1pm.  So what are we remembering?  Here is the blurb from the website.  "In 1956, when the last surviving soldier passed away, Albert Woolson, a monument was dedicated at Gettysburg to the memory of the Grand Army of the Republic. The dedication included a parade and ceremony. The event has taken place every year since the original dedication and is now known as "Remembrance Day"." This weekend every year brings large crowds of people, history buffs, reenactors, and the like to Gettysburg to celebrate this event.  Local bars with history or bars that have developed a historic following due to their location are packed with fully dressed soldi... 11/17/2009

According the Gettysburg times the borough residents will receive a 1 mill tax hike for 2010.  This will result in 117,000 in increased tax revenue.  Click Here for the Complete Article The idea behind the tax increase is to cover the debt on a 3 million dollar loan that is needed to rehab the Gettysburg Borough Offices.  It's estimated that this project will cost about 2 million dollars.  Some motivation for doing this now instead of later is the favorable interest rates that are currently available.  The other one million will go toward infrastructure of the borough.  The mileage rate will increase from 14.38 to 15.38.  The current rate is already the highest in the area.  This is partially due to Gettysburg College operating as a not for profit, thus not paying borough property taxes... 10/30/2009

This Sunday from 1-3 the below pictured house will be open for public viewing. This weekend is about the latest you will be able to go under contract toreceive the first time home buyer tax credit. Remember to be considered a first time buyer you cannot have bought or sold a home within the past three years. This means that it doesn't have to be your first home purchase to qualify. Take advantage and lets get this settled by the end of November. It's a fantastic little rancher. 3 Beds, 2 baths, a beautiful kitchen and 1.63 acres to give you some privacy. I look forward to seeing you this Sunday. See Flyer Below. PHOTO GALLERY DESCRIPTION AND FEATURES Beautifully upgraded rancher on 1.63 acres. New kitchen with stainless steal appliances. Hardwood floors throughout. Wood burning fireplac... 10/06/2009

I have seen a few blog posts stating that Fannie Mae is offering special Homepath financing on the properties that they own.  You can find properties that qualify for the home path mortgage HERE. Most of the time if the property qualifies for this loan it will be noted on the MLS sheet.  Recently one of the buyers I've been working with emailed me a link to a home that qualifies.  I had them preapproved to go FHA.  We went to the house and looked around.  It didn't take long to realize that in its current condition this house could not go FHA.  The problems were the following - Leaking roof, hot water heater not connected/didn't work, furnace from a company so old not even the contractor could identify it, and signs of some water issues in the master bath (unrelated to the roof). Thanks... 08/31/2009