How much of a down payemnt

Check here and you may be pleasantly surpised

Survey from Joint Center for Housing Studies of Harvard University

Harrisburg PA home sale prices 2014 v 2013

Here is where house prices have gone so far this year compared to last year.

When you would like to see what this means for your unique Selling or Buying situation, please don't hesitate to get in touch with me.

Harrisburg Market Absorption through June

A lot of indication of close to a balanced market (6 month supply) in both Cumberland and Dauphin Counties

When you would like to zero in on what this means to your unique situation, just call or email me.

BBB warns against summer scams

The Better Business Bureau (BBB) is advising consumers to use caution when booking hotels and making summer travel plans, especially at unfamiliar destinations.
The BBB says that fraudsters are employing a wide array of methods to steal money and personal information from their victims.
High pressure door-to-door sales tactics – Even though many legitimate companies use door-to-door sales, there are many illegitimate salespeople as well. It’s important to do your research and not to sign anything with open-ended completion dates or blank spaces.
Vacation scams – Summer is a popular time for vacations, and a popular time for scammers to offer too-good-to-be-true deals. Double check with airlines, hotels, and tour operators directly. 
Unscrupulous movers – Summer is also the peak time for moving, so many fraudsters seek to prey on residents during the busy season. Consumers are reminded to always review companies on bbb.org. A company unwilling to send an estimator to your home ahead of time is always a red flag and the lowest estimate can sometimes be unrealistic and contain lots of hidden fees.
Online ticket scams – When you’re looking for some great summer shows, always make sure the seller is reputable. Scammers often print the same ticket multiple times, selling copies to victims.
Employment scams – Summer employment is a top priority for college and high school students, but you should always be wary about companies that demand fees for training and background checks. Jobs advertised as ‘no experience needed’ can also be red flags.
Shady contractors – Many fraudsters posing as landscapers and contractors attempt to take advantage of unsuspecting homeowners during the summer. Residents should be particularly wary of contractors who approach them, claiming ‘they were in the neighborhood’. 
Opt-out lawn care contracts – If you have a contract in relation with your lawn care, some companies will need you to go through a number of steps to cancel the contract when you no longer need or want it.
For bureau information, or to report a problem, go to bbb.org.

Why I'm here to help you understand all you can achieve

Buying a Home? Know ALL Your Options

by The KCM Crew on July 2, 2014 in For Buyers, Millennials

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In a post earlier this week, we suggested that the Millennial generation’s struggles with student debt and the overarching concept of homeownership are not the reasons for so many first time buyers hesitating to move forward with the purchase of their first home. Now there is another firm suggesting the same. The asset management company, Nomura, came out with strong guidance to their investors. According to an article in Housing Wire last week:
“Nomura’s note to clients has a take few have offered: The first time homebuyers are holding out and it’s not student debt, a shift away from homeownership as a choice by Millennials, or any of that.”
Instead, they think it is a lack of a full understanding of the mortgage process. The article explains:
“Analysts say it’s not that Millennials and other potential homebuyers aren’t qualified in terms of their credit scores or in how much they have saved for their down payment. It’s that they think they’re not qualified or they think that they don’t have a big enough down payment.” (emphasis added)
This comes off the heels of a survey by Zelman & Associates that revealed that 38% of those between the ages of 25-29 years old and 42% of those between the ages of 30-34 years old believe that a minimum of 15% is required as a down payment to purchase a home. In actually, a purchaser may be able to put down far less.

The Reality of the Situation

According to Christina Boyle, Freddie Mac’s VP and Head of Single-Family Sales & Relationship Management, in a recent Executive Perspectives piece:

• A person “can get a conforming, conventional mortgage with a down payment of as little as 5 percent (sometimes with as little as 3 percent coming out of their own pockets)”.
• Freddie Mac's purchase of mortgages with down payments under 10 percent more than quadrupled between 2009 and 2013.
• More than one in five borrowers who took out conforming, conventional mortgages in 2014 put down 10 percent or less.
• Qualified borrowers can further reduce the down payment coming out of their own pockets to 3 percent by lining up gifts from family or grants or loans from non-profits or public agencies.

Ms. Boyle goes on to explain:
“Letting more consumers know how down payments are determined could bring more qualified borrowers off the sidelines. Depending on their credit history and other factors, many borrowers can expect to make a down payment of about 5 or 10 percent.”

Bottom Line

If you have considered purchasing a house or moving-up to a new dream home, know all of your options. Reach out to a real estate and/or mortgage professional in your marketplace to get the best, most up-to-date information available. You may be surprised to learn what you and your family are capable of achieving.

Let's Remember to be Fire Safe at Home

Fire Safety Tips

Every year, more than 3,800 people die in house fires in the United States alone. An additional 18,300 survive but are disabled or injured. It is important to keep your family and your home up-to-date on fire safety.

Fire Alarms
Every level of your house should have at least one working fire alarm. Be sure to test the alarms every month, keep them clean, and change the battery at least once a year. Every ten years, fire alarms should be replaced unless the manufacturer says otherwise. There are also smoke alarms available for the deaf or hearing impaired that flash strobe lights and shake the bed.

Causes of Fires
The leading cause of fatal home fires in the United States is smoking. If possible, smoke outside and dispense of remnants in designated areas, such as ashtrays. Cooking is another leading cause of fires, typically as a result of people leaving the oven or range unattended for any length of time. Heating equipment should be cleaned, checked regularly and kept away from furniture according to fire regulations. Lastly, burning candles should never be left unattended in the home.

Carbon Monoxide
Carbon Monoxide is the deadly result of fuels burning incompletely. It is recommended that every house has a CO alarm on each floor as well as a fire alarm; in 2010 the United States fire department dealt with over 80,000 non-fire CO related incidents. Be sure to keep your home well ventilated, and use charcoal or gas grills outside only. Never keep a car running for an extended period of time indoors.

Escape Route
It is very important to have planned escape routes from your house in case of a fire. If possible, try to have at least two different ways out of every room, and make sure everyone in the house is familiar with them. It is advisable to practice your plan twice a year, both at day and at night. If an actual fire occurs, immediately get low, stay low, and get out of the building. Most fire-related deaths are caused by smoke inhalation rather than burns, since fire burns the oxygen out of the air and lets off poisonous gases. You can suffocate from a fire even if you aren’t in the same room.