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Lancaster, PA Real Estate News

By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
   On Tuesday May 7th , 8:30am til Noon , Mike Perry will be teaching the Foundation’s of Investment RE. We will cover the Two Primary Reasons that people    Invest inReal Estate . We will study that there are 5   factors that determine whether people will invest .             We will examine Rental Income , Operating Expenses,      and Cash Flow ( using an APOD Form) . We will be         taught how to “Ballpark” Rental Property values . We.      Will examine how tax Benefits can reduce taxation via.       a Schedule E . You will learn Rates of Return to show        your Client how much they’re making on their money.       Finally we will study the “ HOLD Strategy “ to accumulate  Wealth . There are still seats so register online or call        717-569-4625 . See you there !       
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
         About 12 years ago , my Daughter turned me ontosushi. And about 10 years ago Ginza Sushi opened inGreenfield . I like their Miso Soup and Vegetable Tempura and their Lunch Bento Boxes.        Pictured above is one of my favorite Takeout Rolls.2 Spicy Tuna , a Cali Roll, Philly Roll, a Spicy Salmon andof course 1-2 Spicy Mayo .  Ginza also does “All you can eat sushi “ when dining in . So if you are craving some really good Sushi, I’m recommending GINZA, 565 Greenfield Rd., Lancaster, PA ..  Arigatou  
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
.    A new Sandwich Shop opened around the corner.They specialize in High -quality, chef-driven salads &Sandwiches . Their Sandwiches are packed with premium ingredients and creative flavor exploration.In addition they have Loaded Fries and 2 interesting Cheesesteaks . All of their Sandwiches are specialties and have a name . They have 3 Full Meal Salads .      Pictured above is “the Brooklyn “ . It’s loaded with Pastrami,Gruyère ,coleslaw B&B pickles, topped with Russian Dressing . It was fantastic ! There are so many specialty Sandwiches I can’t wait to try. Will you join in this creative flavor exploration ?
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
     Fastnachts are German/ PA Dutch tradition on Fat Tuesday. In German their name means “fast nite”or the night before Ash Wednesday when Lenten fast begins . Fastnachts are eaten before and during the Lenten season. They come plain , powder sugaredor glazed .  I eat about 3 donuts per year , but always celebrate Fastnacht Day with a 2fer  !   Thank you to Weis Markets Bakery for great Fastnachts ! 
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
        In 1981 , one of these appeared on the scene . Prior to this , Real Estate Agents had to carry pocket sized Mortgage Payment Books . By 1995 , real estate trainers had taught more than 50% of all licensees how to use a Financial Calculator. In a matter of seconds you could show a consumer what the monthly mortgage payment would be for the mortgage amount they were requesting.          Today many Realtors have visited the App Store and acquired ( for their cell phone) the abovecalculator for a mere $5.99 . Talk about bargains !I can’t tell you how many times I have used this function at Open Houses ! Also it’s a show stopper in Buyer Consultation Sessions.  But it’s much morethan just Real Estate . It can be for Any InstallmentLoan you are considering. Buying a new car , furnitur...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
.          As the Real Estate continues to Shift , we are experiencing a return to a Normal Real Estate Market.Both 2021 & most of 2022 were Record Setting years .Days on Market has increased to 25 Days , which is still a very good indicator. Sales activity is down , but not far from a typical January. Finally more Sellers are entering the Market as prices/ values continue to rise . Text me to update your Home’s Value 717-951-9933  ! 
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
      Several times a year I am hired by 4 different Realtor Associations to teach a full day on Business Planning . I have each participant introduce them-selves to the class and tell us what either their niche is or Primarily Market is . Through the yearsI’ve been shocked by how many answer by saying -“Wherever My Car Takes Me .”         On Page One of our Seminar I warm up the class with several quotes. Those that fail to plan ,have planned to Fail !  Also , you can not hit a Target that you do not have . Before we get to ourLunch Break, I introduce the concept of being Purpose Driven . I then quote Zig Ziglar from his Timeless Classic -See You at the Top. “ You will never get anywhere as a Wandering Generality, you Must Become a Meaningful Specific !”         To compete with 1,500 A...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
     More than a decade ago we moved to a development called Mill Creek in West Lampeter Twp. , Lancaster Co.PA 17602 . One of the deciding factors for me was a walking trail that was 2+ miles of mulched walking path along a tributary of the  Conestoga River . Two of our dogs love this walk and have swam in the River on hot sunny days .      Along our walks we see all kinds of wild life andnative plant species. Some of these are Geese and Ducks in the water and Egrets on the River Bank .Squirrels , rabbits are abundant and often we bumpinto a deer or two . Numerous Bird species are chirping from the trees . Sometimes it’s near impossible to get my Black Lab out of the Woods.       Thanks to West Lampeter Twp. for maintaining this Wood land paradise.
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
        We live along several miles of Woods and a Tributary ( that as wide as a River) . My Black Lab ,Tucker is always ready to navigate his walks into the Woods. We have a well maintained & mulched pathway along the Conestoga River. We see all types of birds, squirrels, deer and egrets . But there’s one character that always lets us know he is there .         You guessed it the Woodpeckers, busy peckingon trees along our trail . The other creatures attempt to stay out of our way , but not Woody . He is determined to make sure we know these are his trees ! Well in late December we had a Cold Wave for 7+ days and stayed out of the Woods . Woody seemed to miss us because I was awakened by himknocking on our Sunroom’s exterior wall ! He continued this for a second day until I got his mes...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
      The Equal Credit Opportunity Act prohibits discrimination in the lending process and applies for all lease applications. Property Managers need to know and implement the Act into all of their tenant selection activities. Property Managers need to conductthemselves in a consistent and systematic manner . The Property Manager should usethe same Lease Application for every applicant. Additionally if the Property Manager requires a Credit Report from one applicant, they must require them for all applicants .The same can be said about Criminal Background Checks . A Property Manager will use the following when evaluating potential tenants :1. Credit References & Credit Report 2. Criminal Backround Check 3. A Search of the Public Record 4. Information on previous Landlords 5. Employment ...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
.     Tenants occasionally find themselves in a rental where the Landlord is slow to fix things . Many times that Landlord is actually “milking the property”. They are pocketing the CashFlow the Property is generating , but not investing it back intothe property . Many are renting properties that may not be legally habitable.        So what exactly is the Implied Warranty of Habitability,that is offered to tenants? It’s a warranty contained in every Residential lease promising that the landlord will provide a rental unit that is safe, sanitary , and environmentally healthy.The Landlord must make necessary repair through out the lease period to maintain the unit as “fit to live in” . The right to livable housing can not be waived by the tenant . Some examples of violations:1. Unit is ins...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
    Many Propery Managers are confronted with one more challenge when inspecting a now vacant rental unit . The exiting tenants have left behind Personal Property . What should they do with all of this stuff ?     The “PA Landlord Tenant Act” requires tenants to remove their personal propery from the rental unit when they have relinquished possession. Regardless of why they leave , tenants have 10 days to communicate their intentions ( to the Property Manager) that they want to retrieve their property. The LT Actrequires Landlords To give the tenants notice that all personal property needs to be removed within 10 days of abandoning the property.     If the tenants communicate their intention to collect their abandoned personal property , then the Landlord must safe guard the tenant’s pr...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
     Some investors attempt to improve Cash Flow by eliminating unnecessary operating expenses . And some of these investors quickly learn that a Property Manager is not an expense , but rather a key component to your Investment Team. No business can grow unless the person at the top can Delegate . The true value of a Property Manager quickly becomes obvious when you realize just what they can do better than you ( the owner) . Here’s a short list of services / attributes :1. A Property Manager(PM) will keep a full time eye on eliminating Vacancy 2. A PM has been professionally trained how to Legally screen potential tenants. 3. A PM has ongoing Marketing that produces a pool of potential tenants. 4. A PM uses Legally Approved Leases and documents ( that hold up in court).5. A PM has a t...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
    America has always been a Land of Opportunity . From its' beginning you had no guarantees and had to take risk to live here . Those who boarded ships to sail here , knew that 10-20% would not survive the trip . But they came . Once they arrived, many decided to settle in some of the most dangerous parts of the Western territories. They slept with their guns , knowing they could be subject to hostile attack at any  moment . But still they came !      They came for opportunity , and greater freedoms than they had experienced in  Europe (and other parts of the world ) . Clearly they knew that they were risking  their lives and of their families to pursue settlement in America . But they came ! At any time did they have Fear ? Of course they did ! But many also had Faith . They had vis...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
    × 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 Survey – A survey of over 100 market analysts, real estate experts, and economists conducted by Pulsenomics each quarter. Zelman & Associates – The firm leverages unparalleled housing market expertise, extensive ...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
     × 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 mortgage payment. This percentage allows the household to save money for the future while comfortably covering other expenses. According to new data released from ApartmentList.com, 49.5 million renters in the Un...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
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.” According to the Showing Time Index which “tracks the average number of buyer showings on active residential properties on a monthly basis” and is a “highly reliable leading indicator of cur...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
    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   
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
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 the past that they can recommend to you. HGTV recommends that you consider the following 5 areas when choosing the right home inspector for you: Qualifications – find out what’s included in your inspection and if the age or location of y...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
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 !  
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