New to market 329 Peffer Street

Fresh paint and carpet.  Huge (27 feet) master bedroom.

Only a mile from the State office complex and just blocks from the river front.  Nice Olde Uptown location.

Gas heat and cooking.

Call, text or email today

Huge Master Bedroom

Coming Soon in Olde Uptown

Escape to your huge master bedroom - it's over 27 feet long - the whole 3rd floor.  Fully equipped kitchen, fresh carpet and paint.  Just blocks to mid-town and the  river front. Economical gas heat.

Call, text or email to make it yours

Buying Home Less Expensive than renting

Buying a Home is 36% Less Expensive Than Renting Nationwide!

In the latest Rent vs. Buy Report from Trulia, they explained 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 that the range is an average of 5% less expensive in Orange County (CA) all the way up to 46% in Houston (TX), and 36% Nationwide!

Other interesting findings in the report include:

• Interest rates have remained low and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.

• Some markets may tip in favor of renting if home prices increase at a greater rate than rents and if – as most economists expect – mortgage rates rise, due to the strengthening economy.

• Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989.

Bottom Line

Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to discuss the best course of action to get you into your dream home!

Just call text or email.

Time to Sell? Remember Supply and Demand

If You Are Thinking of Selling, Now Is The Time

 Monday April 18th, 2016  For Sellers, Housing Market Updates

If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.

Jonathan Smoke, the Chief Economist of realtor.com, in a recent article revealed that:

“Would-be buyers face a dilemma: There will be more homes on the market over each week of the next three to four months, but there will also be even more prospective buyers. We are entering the busiest season of home buying with the lowest amount of inventory in three years. To be competitive, buyers should get pre-approved for a mortgage and be ready to act quickly if they find a home that meets their needs.”

Smoke goes on to say:

“Listings are growing as they normally do this time of the year, but because demand has been growing faster than supply, homes are selling faster. So the monthly trend is the normal seasonal pattern, but the year-over-year decline is reflective of demand being stronger than supply for more than a year, which is resulting in fewer homes available and faster-moving inventory.”

In this type of market, a seller may hold a major negotiating advantage when it comes to price and other aspects of the real estate transaction including the inspection, appraisal and financing contingencies.

Bottom Line

As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas.

To see where you are in today's market, call, text or email

SAVE YOUR DOWN PAYMENT FASTER

You Can Save for a Down Payment Faster Than You Think

In a study conducted by Builder.com, researchers determined that nationwide, it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home.

Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage of income a renter spends on housing in each state, and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to save.

According to the study, residents in South Dakota are able to save for a down payment the quickest in just under 3.5 years. Below is a map created using the data for each state:

What if you only needed to save 3%?

What if you were able to take advantage of one of the Freddie Mac or Fannie Mae 3% down programs? Suddenly saving for a down payment no longer takes 5 or 10 years, but becomes attainable in under two years in many states as shown in the map below.

Bottom Line

Whether you have just started to save for a down payment, or have been for years, you may be closer to your dream home than you think! Let's meet up so I can help you evaluate your ability to buy today.

Just call, text or email

Harrisburg Real Estate Market thru March 16

Here is the chart for market absorption for the first quarter. Remember that 6 months is a balanced market/

To see how this impacts your unique situation, call, text or email.

I always appreciate your referrals.

And don't forget:

Is it time to Downsize?

Wondering If It’s Time To Downsize? Take These Questions Into Consideration First.

Whether your children are going off to college, your utility payments, mortgage, and upkeep have become unmanageable, or you want to boost your nest egg, there are countless of reasons to consider trading square footage in for a cozier living space. But before signing into a new mortgage or down payment, be sure to consider both the pros and cons of downsizing to guarantee it’s the best choice for your lifestyle and future.

How Much Does Size And Space Really Matter To You?Decide how much of your identity reflects on your home. For many of us, more than any other possession, our home is used as a barometer of our status in the community. This leads to the notion that “bigger is better” and “small is worse”. Before downsizing, it’s important to confront those notions and explore how it may or may not affect your decision.

Will You Miss Certain Aspects Of Having A More Spacious Home?
Think about daily routines and activities you do in your home. Do any of these activities require space? Decide how you use your extra space such as a home office, gym, guestroom, or multiple restrooms. Are these amenities something you could live without? Think about how often you entertain guests, and if downsizing will affect that part of your lifestyle.

Is Cost Important To You?
It’s no secret that downsizing saves time and money. You will have less to clean, less to heat, and overall less energy usage. Many people decide to downsize for financial reasons whether it be to boost your nest egg or have lower monthly payments. Reducing the cost of living will free up extra cash for you to either invest or to improve your lifestyle. For example, selling a $300,000 home with the mortgage paid off for a less expensive $150,000 home, you will have an extra $100,000 in your pocket, minus transaction costs.

Don’t Forget About Taxes
A smaller home means smaller property taxes. Depending on the amount you decide to downsize, you can save thousands of dollars in property taxes alone. If you currently live in a more urban area, try to explore further out from the city to compare how far your budget will take you in a less in-demand area.

Downsizing Your Furniture
Calculate the cost of buying new furniture that will fit in a smaller space. A large sectional in your current home may not be ideal for your new home. Consider bedroom furniture and closet space. Will a smaller home have enough storage space for your belongings? Will you be able to sell or give away precious antiques or family heirlooms that are too bulky to store in a new home?

How Much Will You Get For Your Current Home?
Will the sale price of your home be enough to cover the costs of moving, purchasing a new home, and moving costs? If you’re downsizing because you want extra cash to invest in your future, calculate realistic savings once you’ve settled in your new home. Remember to set extra money aside in case you run into unexpected construction or maintenance in your new home. Hire a Realtor to help you negotiate sale and list pricing to ensure you will get the most bang for your buck.

For help answering these questions, call, text or email

Bad News Good News About Getting a Mortgage

Lots of confusion

A lot of wrong assumptions and just not knowing according to recent survey of consumers:

Here are the real typical down payments:

And even more dramatic the average down payment by loan type

The credit score required isn't ridiculous either. Remember these are averages not minimums.

If you are even considering moving, don't assume on your mortgage.  Let's get you face to face with a lender to see where you really are.

Just call, text, or email.