The uneven nature of the "housing crisis" by state

There is a lot of conflicting information about the state of housing in the U. S.. One reason is that the difference in what has occurred by state.

This map shows the date of the peak prices and how much home prices are off from that peak.

The differences are HUGE. Nevada peaked in 2006 and is still off over 37%. A whole group of states including Texas, Colorado, Vermont and Alaska are now (2014) at their peaks.

Certainly there are also variations within states as well and within local markets. Here in the Harrisburg area, the difference is clear between the shores of the Susquehanna.

As always, if you have questions bout what this means regarding the home you would like to buy or sell, just call text or email.

The Truth About Buying a Home: You DON'T Need 20% Down

In a recent survey, How America Views Homeownership, it was revealed that 68% of Americans feel that now is a good time to buy a home and 95%said they want to own a home if they don’t already.

Franklin Codel, head of Wells Fargo home mortgageproduction, explains:

“Although the home buying process has changed in many ways in recent years, our survey found Americans still view homeownership as an achievement to be proud of and many believe that now is a good time to buy a home.”

Confusion Creates Paralysis

However, the survey also reported that many are afraid to purchase a home because of uncertainty about “qualifying for a mortgage or navigating the home buying process”. Though 74% said they “know and understand” the financial process involved in buying a home, they also gave answers that suggest otherwise. For example:

• 30% of respondents believe that only individuals with high incomes can obtain a mortgage
• 64% of respondents believe they must have a “very good” credit score to buy a home
• 44% believe that a 20% down payment is required

In actuality many of these beliefs are unfounded. Let’s look at the question of down payment:

Freddie Mac, in a recent blog post addressing the issue, confirmed that there is misinformation regarding the amount necessary when determining the down payment for a home purchase:

“Did you know 40 percent of today's homebuyers using mortgage financing are making down payments that are less than 10 percent? And how about this: since 2010, the number of people putting down less than 10 percent for conventional loans has grown three fold.  So, not only are low down payment options real, they represent a significant portion of today's purchases.”

In a separate Executive Perspectives, Christina Boyle, Freddie Mac’s VP and Head of Single-Family Sales & Relationship Management explained further:

• 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)”.
• Qualified borrowers can further reduce the down payment coming out of their own pockets to 3 percent by lining up gifts from family, grants or loans from non-profits or public agencies.

Education is the Key

Boyle talked about the importance of educating potential buyers:

“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.”

Codel agreed:

“It is important for prospective homebuyers to feel empowered to ask lenders and real estate agents questions about available options, such as down payment assistance or FHA loan programs or VA loans for veterans.”

Bottom Line

If you are saving for either your first home or that perfect move-up dream house, make sure you know all your options. You may be pleasantly surprised.

Freshen up your home's interior for fall

Freshening Up for Fall

With the season beginning to change, you may want to refresh the interior of your house. Refreshing may mean some light cleaning, a fresh coat of paint, new air fresheners, etc. However, you may want to consider some places within your house that you probablly have been neglecting to clean.

5 Places You May Be Forgetting to Clean

1.) Air conditioner/heating intake ventshOut of sight, out of mind is how many people treat their vents. Your intake vents may not be visible or are purposely hidden, which allows you to “unknowingly” forget to clean them. It is important to keep your vents clean in order to reduce potential damage inside your heater/air conditioner system. Cleaning off the vents will allow for better air flow and reduce the amount of dust/dust bunnies floating around your home. To clean the vents, you can simply wipe them down, thoroughly clean them by unscrewing the vents or you can have a professional come in and clean them (if necessary).

2.) Curtains

Your curtains are another place that hair and dust are able to easily accumulate. If you have medium to heavy weight curtains, you can use the upholstery brush on your vacuum to give them a quick once over.
 
 
3.) Under Your Area Rugs

Dirt, dust, allergens and pet hair all seem to gravitate underneath the rugs. You don’t want this grit and grime rubbing into your nice hardwood floors with all the foot traffic; therefore you will want to vacuum or sweep when needed.

4.) Upholstered Furniture

Eating snacks and other foods that easily fall in between cushions can cause quite an accumulation of crumbs overtime. Be mindful to vacuum underneath your furniture’s cushions, and you may even find some loose change…….don’t spend it all in place.

5.) Above your cabinets

The tops of your cabinets have most likely not been cleaned for a long time. Dust and cobwebs accumulate quickly up there, so every now and again you should dust and vacuum along that top area.

How Long will it take to sell your home

Here are the figures for how long homes are on the market before they sell 2014 compared to 2013.

Remember these are days on market only of homes that SOLD.

If you are interested in how this applies to your situation please call text or email.

Sunday is the last Lawn Fire & EMS breakfast buffet of the year

Lawn biker breakfast buffet has consistently been the biker breakfast with the best food.

Sunday from 7 'til 11 will be the last one of 2014.

So come to 5596 Elizabethtown Rd., Lawn, PA and enjoy the food meet friends old and new and enjoy the array of bikes that fill the parking lot(s)

What not to look for when Selling your home

Click the pic below to learn more

It's time to start getting your home ready for the weather to come

Preparing Your Home for Fall

The days are becoming shorter and the weather is becoming cooler; fall is right around the corner.  Now is the perfect time to get a jump start on accomplishing a few house chores before the cold weather strikes and it is too late. A lot of things are overlooked by homeowners when making the change from summer to winter. So, here is a guide onPreparing Your Home for Fall to help you remember all of the important tasks to get done to guarantee a safe and warm home for the upcoming cold weather.

Clean Out Your Gutters

Source: http://www.pondarosahomes.com

It is best to put this first on your list of things to accomplish. You will want to clean out your gutters during the last few days of summer or the first few days of fall. However the most ideal time for gutter cleaning is after the last heavy rain or thunderstorm. The rain will have washed away any debris that accumulated on your roof down into the gutters. You will want to start at the opposite end of the downspout and then work your way down the gutter. Once you reach the downspout, take a hose or a bucket of water to flush out the spout. If your downspout appears to be clogged, you will want to eliminate it with a plumber’s snake. Clogged gutters are prone to rust and corrosion, can lead to damaged exterior surfaces and to water in the basement.  Stay ahead of the weather, have your gutters cleaned then covered with mesh guards to keep debris from returning.

Put Away Your Gardening Tools

Source:  http://sjcmastergardeners.wordpress.com/

Once you are finished with your gardening projects, you should properly clean your tools and store them away for winter. Thoroughly clean off all your spades, clippers, shovels, etc. and consider coating them with a thin layer of mineral oil to prevent having to replace them due to rusting over the winter months. After cleaning and coating your tools, make sure you put them in a safe spot like a garage or shed so they won’t be affected by the cold weather.

Check the Weather Stripping

Source: http://beyondinteriorsdesign.com/

Gaps around door frames and windows can account for roughly 10% of your heating bill, according to the U.S. Department of Energy. Don’t lose money by not checking for air leaks in your home. Weather-stripping is a cost-effective way to take control of your home’s heating and cooling costs. It is important to check this material periodically because it can deteriorate over time. If the weather stripping in your home appears to be questionable in certain areas, there are a few options for checking.
– Close the door or window on a piece of paper. If the paper slides easily or automatically falls, your weather stripping needs to be replaced.
– Or light a candle and trace the frame of the door or window. If the flame flickers at any spot along the frame, then there is an air leak.
You should also check for missing or damaged caulk areas around windows, door frames, and any other entry points (pipelines, electrical wiring). If there are any areas where air is leaking seal the gaps with caulk.

Driveways, Walkways and Steps

Source:  http://www.signature-concrete-stain.com/

When any of these concrete areas are damaged it becomes a hazard year round, but the real danger arises when the weather turns icy. Fixing this type of problem in the fall is important in preventing a minor problem now from becoming an expensive headache down the road. Look for cracks, uneven sections, loose railings, crumbling of asphalt and loose-filled pathways. The majority of the cracks you will encounter will be within the ability to do-it-yourself.

Inspect your Fireplace

Source:  http://disney.wikia.com/wiki/Bert

No matter how often you use your fireplace, it is important to check it annually for damages and hazards.

- Flue: Check your flue (chimney) for creosote. Creosote is a flammable by-product of burning wood. If accumulation occurs, the result poses great danger to your home.

Therefore you should consider having your chimney inspected annually. For most people, the best option is to have the entire chimney system inspected by a chimney sweep. Once you know what to look for, you can perform an inspection yourself by shining a flashlight up the flue. Look for deposits approaching 1/8inch in thickness. If you suspect any deposits, then it is highly advised to have the deposits cleaned by an experienced chimney sweep.

- Look for flue blockages: Birds love to nest at the top of an unprotected flue. A chimney cap can prevent this from happening. If you don’t have a cap, look up the flu to ensure that there are no obstructions.

- Exercise the damper: The damper is the metal plate that opens and closes the flu just above the firebox. Move it to the open and closed positions to ensure that it is working properly.

Check Your Smoke Alarm Batteries

A lot of local fire departments will run campaigns urging you to change your fire alarm batteries during Daylight Savings time changes. Take this into account. Always be sure to check that any alarms you have that run on batteries, or ones that are connected to your home’s electrical system to ensure that they’re working.

Change Your Heat Filters

Source:  http://www.timesrecordnews.com/

If your home has a forced air centralized heating system, you need to replace your air filters. Whether they have been running continuously all year, or if your heater has been turned off all summer, you need to change them regardless. They will either be dirty from running all year, or they will be stale and possibly growing mold or mildew due to inactivity. Luckily, filters are cheap and easy to replace. When you’ve decided on a time to replace your filters, set aside a day to turn on your heating system for a few hours so it can blow out all the dust that built up over the summer months. A good time to do this would be when you’re going to be away from the home for awhile so you don’t have to endure a heated house, and the smell of burnt dust, when it’s still warm outside. Once you’ve had the heating system on for a few hours or more, turn it off and let your home air out.

Preparing your home for the fall can sometimes be a tedious job, but you’ll be thankful once the winter weather arrives. Whether you just moved into your new home or are planning on selling in the near future, stay one step ahead by preventing minor problems from escalating, while also saving money.