West Lampeter Township (Lancaster, PA)
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 )
Do You Know the Real 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 (15%), the choice becomes obvious. Every market is different. Before you renew your lease again, find out if you could use your housing costs to own a home of your own! Buyers , your first step is Mortgage Pre-Approval  !    Email      mikeperrykw@gmail.com  to get started  ! 
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
The Great News About Rising Prices for Homeowners Recently there has been a lot of talk about home prices and if they are accelerating too quickly. As we mentioned before, 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 great news about rising prices, however, is that according to CoreLogic’s US Economic Outlook, the average American household gained over $11,000 in equity over the course of the last year, largely due to home value increases. The map below was created using the same report from CoreLogic and shows the average equity gain per mortgaged home from June 2015 to June 2016 (the latest data available). For those who are worried that we are doomed to repeat 2006 al...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
First Comes Love… Then Comes Mortgage? According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2016 at 58% of all buyers. It is no surprise that having two incomes to save for down payments and contribute to monthly housing costs makes buying a home more attainable. But, many couples are also deciding to buy a home before spending what would be a down payment on a wedding, as unmarried couples made up 14% of all first-time buyers last year. If you’re single, don’t fret! Single women made up 18% of first-time buyers in 2016, while single men accounted for 8% of buyers. One recent article pointed to a sense of responsibility and commitment that drives many single women to wa...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Homeownership Offers Stability & Wealth Creation The most recent Housing Pulse Survey released by the National Association of Realtors revealed that the two major reasons Americans prefer owning their own home instead of renting are: They want the opportunity to build equity. They want a stable and safe environment. Building Equity In a recent article by The Mortgage Reports, they report that “buying and owning a home is the essence of ‘The American Dream.’ Each month, your housing payments go toward owning your home instead of renting it; building your personal wealth and assets instead of someone else’s. History has shown that homeownership is a clear path to wealth-building, with homeowners boasting a net worth [that is] multiples higher than the net worth of renters.”   Family Stabi...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Buyers Are Searching For Your House The most recent Pending Homes Sales Index from the National Association of Realtors revealed a slight bump in contracts with an increase of 1.6% in December. This news comes as existing home sales are also forecasted to be on pace for 5.54 million in 2017, a 1.7% increase over 2016, which was the best year for sales in a decade. The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed. According to NAR’s Chief Economist, Lawrence Yun, “Pending sales bounded last month as enough buyers fended off rising mortgage rates and alarmingly low inventory levels to sign a contract.” So, what’s the problem?...
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By Michael J. Perry, Lancaster, PA Relo Specialist
(KW Elite )
Lack of Homes for Sale Slowing Down the Housing Market The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2017 will be the year that the housing market races forward again. However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up. Here are the thoughts of a few industry experts on the subject: National Association of Realtors “Total housing inventory at the end of December dropped 10.8%...which is the lowest level since NAR began tracking the sup...
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Lancaster, PA Real Estate Professionals