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Author Archive wjadan

Should you wait until spring to sell?

As coats are put away for good and flowers are in full bloom, the real estate market begins to shift. Spring market.  Summer Market. We’ve all heard the terms. It’s often a busy time for buyers, sellers, and Realtors. 

But does that mean you should wait until spring if you’re ready to sell now?

We’ve said it before and we’ll say it again: don’t let the market dictate your life. If you have a deadline, then it’s your time. List when it’s right for you. 

There are, however, some interesting numbers out there, stating that the prime time to sell is May, April, and June (in that order). Sellers received over a 10% increase above market value during those months. 

After an analysis of 51 million single-family home and condo sales from 2011 to 2022, ATTOM found the top 3 months for increased seller premiums:

  • May: 12.8% above market value
  • June: 10.7% above market value
  • April: 10.3% above market value

All that to say, the market is always shifting. There are no guarantees in how the market will behave, but we can still help! No matter the market, no matter the season, we can help you buy or sell. Give us a call or text at (717) 371-0557 !

Your Friends in Real Estate, Jason Burkholder Real Estate Team

——————

Jason Burkholder

Kelly Burkholder

Adam High

Jaci Hoosier

717-371-0557 direct or text

Welcome Home Real Estate

717-298-8040 office

57 E Main St, Lititz, PA 17543

Lancaster County & Beyond Market Update- April 2023

This month we’ve got numbers for all of Central PA, courtesy of Bright MLS! Long story short, similar to what we’ve been saying, there’s still plenty of opportunity for buyers and sellers right here in Central PA.

Don’t watch national news for local coverage friends, the numbers won’t tell you the reality here. Home sales (pending and closed) would have been, and would still be, higher if we had more inventory (homes for sale). There is still a lot of buyer demand.  Does that mean a buyer can’t compete?  No, not at all.  The reason the listing inventory isn’t rising is a multifaceted discussion, but the main reason?  Buyers are buying as quickly as they come on the market, and then those are the closings you see.

Whether you’re a buyer or a seller, we can help you navigate this market. We’ve been through the ups and downs of the real estate market and have the experience to help you.   Questions on these things and what they mean?  Just ask, we are here to help !

Let’s dive in!

If you’re a buyer, don’t let the current interest rates scare you away from buying. The interest on rent is still 100% and you can refinance your mortgage when interest rates decrease. Don’t let the market dictate when it’s time to buy, or sell, for that matter. The best time for you to make a move is when it’s right for you!

While homes aren’t sitting on the market long (7 days is the current median), that doesn’t mean buyers don’t have a chance. Work with a Realtor who can help you write competitive offers, while still looking out for your best interests. Yes, that is possible. We can help.

If you look at the column on the right, you’ll see the Home Demand Index (HDI) for each county. HDI “tracks pre-sale activity to measure housing market competitiveness.” Overall, Central PA is at a 93, which is in the “steady” range. You can learn more about the HDI here.

Now, focusing on Lancaster County specifically, here’s a snapshot for April ’23:

Again, if we had more inventory, we’d have more solds and more pendings, but that doesn’t mean you can’t buy.

Mortgages still hold the majority for home financing! This percentage has remained steady the last several months.

Hyper local, this is what Warwick School District looks like:

Median Sales Prices and Number of Units Sold for Lancaster County School Districts in March 2023:

Solanco (13): $355,000

Pequea Valley (2): $410,000

Penn Manor (27): $291,250

Columbia (7): $195,000

School District of Lancaster (55): $215,000

Eastern Lancaster (15): $282,000

Conestoga Valley (13): $307,650

Lampeter Strasburg (17): $355,200

Warwick (20): $335,375

Cocalico (14): $287,500

Elizabethtown (22): $323,750

Manheim Central (20): $323,000

Ephrata (11): $226,000

Donegal (18): $275,250

Manheim Township (36): $384,900

Hempfield (25): $340,000

 

For our surrounding counties:

Need help buying or selling in any of these counties? We’re happy to help! Give us a call or text at (717) 371-0557

Your Friends in Real Estate, Jason Burkholder Real Estate Team

——————

Jason Burkholder

Kelly Burkholder

Adam High

Jaci Hoosier

717-371-0557 direct or text

Welcome Home Real Estate

717-298-8040 office

57 E Main St, Lititz, PA 17543

The History of 225 N Broad St & The Power of the Lititz Historical Foundation

You may have seen a pretty unique Downtown Lititz home from 1869 on my Facebook or Instagram- that was one of our listings (now pending of course!) and I knew we just had to ask the Lititz Historical Foundation to get the background on it!

225 N Broad St image Copyright Dan Williams Photography

The Lititz Historical Foundation is a nonprofit dedicated to preserving the rich history of Lititz. They also have the Lititz Museum and Johannes Mueller House, which are home to artifacts, exhibits, family heirlooms, and more.

You can support the foundation by becoming a member or purchasing a ticket for a guided tour of the Mueller House or their 2023 Lititz Departed Spirits Tour this October! 

The amazing volunteers there pulled together an extensive report of the history of the home and it’s owners.

Here’s what they found, click the link and take a look at the report :

225 N Broad Street, Lititz, PA

“The property where 225 N. Broad Street is located was originally part of the Nicholas Stroh farm. It included 66 acres of land north of Lititz.”

History, alive and well in Lititz PA, the community where preservation meets progress!

Not sure where to start when it comes to buying or selling?   Want to discuss your property, historic or not, and how we can market it?  Let’s meet and we’ll tell you what works best for you personally, because when it comes down to real estate, the best time to buy or sell is when it works for YOU!

Your Friends in Real Estate, Jason Burkholder Real Estate Team

717-371-0557

——————

Jason Burkholder

Kelly Burkholder

Adam High

Jaci Hoosier

717-371-0557 direct or text

Welcome Home Real Estate

717-298-8040 office

57 E Main St, Lititz, PA 17543

Buyer Expectations- Buy Now, Upgrade Later

Just start somewhere. When you decide you’re ready to buy your first home (and stop throwing money into the bottomless pit that is rent), you don’t have to get your dream home. You can buy a starter home, stay awhile, build some equity, sell it, then move up.

Why do we say that?  Well, according to a recent survey  57% of buyers looking for their first home want it to be their “forever home”. Forever.  Wow.  As the purple one himself, Prince, said:

“Dearly beloved
We are gathered here today
2 get through this thing called life.

Electric word life
It means forever and that’s a mighty long time
But I’m here 2 tell U
There’s something else:
The afterworld.”

Too deep?  What does a song lyric have to do with buying a home?   Well, let’s focus on one sentence: forever’s a mighty long time.  It really is.  So final.  Here’s the thing.  No one knows where they’re going to be in 10-20 years with 100% certainty. 38% of millennials don’t expect to be with the same employer in 5 years.

If you are like most people, and you’re buying your first home, you simply don’t have the budget for that perfect “forever home” and if you did, the huge majority of homeowners buy 2-3 homes in their lives and move about, on average, 7-10 years after they buy their first home.

Odds are, you’re buying something, and moving in the next decade or two.  Why not buy and make it your own?

Your money is better spent paying off your own mortgage, rather than someone else’s.  The interest rate on rent is 100%.

Did you know that since 2012, low-income homeowners built $98,900 in home appreciation and upper-income households built $150,800? The NAR report also states that “middle income homeowners accumulated $122,100 in wealth as their homes appreciated by 68% in the last 10 years.”

“In the areas with the highest homeownership rates for low-income households, wealth gains were $140,000 on average.”

You don’t wait to buy. You buy, and wait, so when it’s time to sell and upgrade to a new place, you’ve got equity to use!

Not to mention some of the other benefits of home ownership:

  • Paint to your heart’s content
  • Remodel whatever you want
  • Pets without needing permission
  • Tax write offs
  • Stable mortgage payment, rather than surprise rent increases (and you can refinance for a better rate too!)
  • Consider using your property as a long or short term rental when you do move?

Don’t let the internet, or the tv, fool you. Most of those influencers on social media are still renting, and pretending to be happy anyway. Perfect is rarely attainable without a selfie filter, and they don’t make those for home buying.  It’s not only ok to buy a starter home, it’s better for you.  It’s what your generations before you have done, and it’s how most “middle class” people in the last century have built their wealth.  How about you think about getting started now?

Ready to take the first step as a homebuyer? Give us a call or text at (717) 371-0557 and we’ll get you on the path that’s best for you!

Your Friends in Real Estate, Jason Burkholder Real Estate Team

——————

Jason Burkholder

Kelly Burkholder

Adam High

Jaci Hoosier

717-371-0557 direct or text

Welcome Home Real Estate

717-298-8040 office

57 E Main St, Lititz, PA 17543

 

 

Lancaster County & Beyond Market Update- March 2023

Another month, another market update for not only Lancaster County, but also our surrounding counties!

Numbers. They make the world go round, some say math is a universal language. The thing to remember about numbers is that they simply are.  What does that mean?  They “are”?  Well, it means, despite what someone on a Tiktok, Instagram or tv channel says, the world is not ending.  The market is not crashing.  Far from it actually.   Let’s see what the numbers say, and of course, if you ever want to discuss any of this, you can always call us at 717-371-0557!

Let’s look at a snapshot of Lancaster County:

Compared to February, things are getting a little busier, which is exactly what we expected!

When it comes to the median and average sold price for March, numbers are holding steady.  Don’t believe the hype friends, home prices are stable and still rising at “normal” appreciation levels.

Here’s where we’re at (based on the 375 units sold last month):

And again, mortgages are still the most popular form of financing.

Median Sales Prices and Number of Units Sold for Lancaster County School Districts in March 2023:

Solanco (24): $310,000

Pequea Valley (4): $400,000

Penn Manor (28): $281,500

Columbia (15): $175,000

School District of Lancaster (75): $229,900

Eastern Lancaster (16): $325,000

Conestoga Valley (18): $319,000

Lampeter Strasburg (13): $395,000

Warwick (19): $325,000

Cocalico (14): $268,000

Elizabethtown (21): $270,000

Manheim Central (12): $348,000

Ephrata (26): $280,719

Donegal (15): $250,000

Manheim Township (39): $383,800

Hempfield (33): $350,000

 

When it comes to our surrounding counties, here’s where we’re at:

Need help buying or selling in any of these counties? We’re happy to help! Give us a call or text at (717) 371-0557

Your Friends in Real Estate, Jason Burkholder Real Estate Team

——————

Jason Burkholder

Kelly Burkholder

Adam High

Jaci Hoosier

717-371-0557 direct or text

Welcome Home Real Estate

717-298-8040 office

57 E Main St, Lititz, PA 17543

Outdoor Projects- Are They Worth It?

You’re getting quotes for a new patio and wondering- is it worth it? Will I enjoy it? Will this add value when it comes time to sell?

Short answer: if it will bring you joy, then it’s worth it. You own the house. Do what makes you happy!

Long answer: if you want to consider resale value, consider the following numbers-

For all of these projects, on a joy scale of 1-10, homeowners gave each of them a 9 or higher. In ground pools and landscape lighting were both at 10!

Whether you want to remodel for aesthetics, functionality, or just because it makes you happy, do it!

Need a contractor recommendation? Give us a call at (717) 371-0557 and we’ll be happy to connect you with a local professional!

Find the full report here!

Your Friends in Real Estate, Jason Burkholder Real Estate Team

——————

Jason Burkholder

Kelly Burkholder

Adam High

Jaci Hoosier

717-371-0557 direct or text

Welcome Home Real Estate

717-298-8040 office

57 E Main St, Lititz, PA 17543

HOAs- Are They Worth It?

A Homeowner’s Association (HOA) is “an organization in a subdivision, planned community, or condominium building that makes and enforces rules for the properties and residents.” (Investopedia)

How do you join an HOA? If you rent or buy a property that’s part of an HOA, you become a member automatically!

HOAs are run by dues, which are usually paid monthly or annually. The amount can vary as the benefits are different for each HOA, but according to LendingTree, the average dues are $3500 annually, or $291 monthly.

A few examples of what an HOA offers:

  • Neighborhood landscaping
  • Personal landscaping
  • Security
  • Sports and leisure amenities (gym, pool, tennis courts, etc.)
  • Concierge

Each HOA has its own rules and regulations, which Associa states could include the following:

  • Home maintenance standards
  • Noise complaint policies
  • Home occupancy limits
  • Architectural controls (paint color, fences, etc.)
  • Short-term rental restrictions
  • Parking rules and guidelines

LendingTree also notes that HOAs can help maintain home value. “Those strict HOA rules can lead to a lot of nice curb appeal.”

LendingTree goes on to say that 57% of HOA members say it has made their lives easier and 63% say they’re priced fairly for the benefits received.

On the flip side, of those who believe their HOA is too expensive, 43% report that the HOA has made their life harder.

Some example violations include:

  • Improper landscaping
  • Painting or decorating outside of regulations
  • Improper or infrequent disposal of trash

So, should you choose a home inside of an HOA? That’s up to you! It’s worth reviewing the cost and regulations of an HOA before purchasing or renting a property that’s part of one. It’s a personal choice!

Looking to buy or sell in Central PA? We can help! Give us a call or text at (717) 371-0557!

Your Friends in Real Estate, Jason Burkholder Real Estate Team

——————

Jason Burkholder

Kelly Burkholder

Adam High

Jaci Hoosier

717-371-0557 direct or text

Welcome Home Real Estate

717-298-8040 office

57 E Main St, Lititz, PA 17543

 

Lancaster County Market Update- February 2023

The February numbers are in for Lancaster County! Let’s take a look.

Another month of opportunity for lots of sellers and buyers.  Let’s take a quick look at some numbers that you might find useful!

Half of homes sold for less than $260,000.  As we said last month, there are affordable homes out there, they are simply selling quickly.

Mortgages are still the most popular way to purchase, versus cash.  Not sure what your financing options are?  We partner with trusted lenders that offer every program imaginable- give us a call or text at (717) 371-0557 and we’ll connect you with the lender that’s right for you!

The average sales price is a bit different than the median, in the way it’s calculated.   They aren’t too different this month though!

302 new listings and 331 listings under contract in February.   New homes are coming on the market all the time, and they are selling fast.  There’s a home out there for you, you can buy, you just have to be as fast as everyone else!  Your best way to do that is to talk to us.  Let’s get you ready before you see the home you love, so when you do see it, we can move quickly.

Zooming in, here’s where we’re at for the Warwick School District.  The median sales price is a point where the exact middle is, and like most of the county, lots of affordable opportunities pop up each month, as the median is where you find half the sales under that price, and half the sales over it.

Median Sales Prices and Number of Units Sold for Lancaster County School Districts in February 2023:

Solanco (17): $265,000

Pequea Valley (3): $100,000

Penn Manor (18): $265,000

Columbia (4): $267,250

School District of Lancaster (46): $196,750

Eastern Lancaster (7): $385,000

Conestoga Valley (10): $270,500

Lampeter Strasburg (10): $349,000

Cocalico (11): $237,000

Elizabethtown (19): $271,000

Manheim Central (20): $243,000

Ephrata (19): $235,000

Donegal (10): $265,000

Manheim Township (22): $352,450

Not sure where to start when it comes to buying or selling?   Want to discuss these numbers and how they affect you?  We can help! We’ll tell you what works best for you personally, because when it comes down to real estate, the best time to buy or sell is when it works for YOU!

Your Friends in Real Estate, Jason Burkholder Real Estate Team

——————

Jason Burkholder

Kelly Burkholder

Adam High

Jaci Hoosier

717-371-0557 direct or text

Welcome Home Real Estate

717-298-8040 office

57 E Main St, Lititz, PA 17543

 

 

 

Lancaster County Market Update- January 2023

The real estate market is local. There is no national real estate market, just like there is no national weather forecast. Well.  There is a “national” weather forecast, it’s just that 99% of it simply doesn’t affect you here in Lancaster County.  Wherever you are, always get the local numbers and make decisions based on that.  Lucky for you, we have those local numbers!

Did you know that 50% of homes sold for under $300,000 in January? Despite the headlines, buying is within reach. 

Again, not everything you hear is true. It’s not all cash buyers out there. The majority of sales are still done with a mortgage. Not sure what your financing options are? We partner with a variety of local lenders, who have every program imaginable, for any buyer’s situation. We’ll connect you with the one that’s right for you! Give us a call or text us at (717) 371-0557 !

Getting more local, here are some numbers for Warwick, and the median sales price for all the school districts in Lancaster County for January.  The median sales price is a point where the exact middle is.  The median is where you find half the sales under that price, and half the sales over it.

Median Sales Prices for Lancaster County School Districts in January 2023:

Solanco: $284,500

Pequea Valley: $442,500

Penn Manor: $250,000

Columbia: $210,000

School District of Lancaster: $222,500

East Lancaster: $265,000

Conestoga Valley: $267,500

Lampeter Strasburg: $380,000

Cocalico: $322,450

Elizabethtown: $297,000

Manheim Central: $330,500

Ephrata: $227,500

Donegal: $238,000

Manheim Township: $390,000

Not sure where to start when it comes to buying or selling?   Want to discuss these numbers and how they affect you?  We can help! We’ll tell you what works best for you personally, because when it comes down to real estate, the best time to buy or sell is when it works for YOU! Don’t let the market dictate your life.

Your Friends in Real Estate, Jason Burkholder Real Estate Team

——————

Jason Burkholder

Kelly Burkholder

Adam High

Jaci Hoosier

717-371-0557 direct or text

Welcome Home Real Estate

717-298-8040 office

57 E Main St, Lititz, PA 17543

 

 

 

10 Tips for a Smooth Move

  1. Tubs over boxes- they’re durable, have lids, and double as permanent storage once you’re settled in. Start collecting them once you know a move is coming!
  2. Essentials bin- designate a tub or tote bag as the one you’ll use once you’ve made it to the new place. Put in hand soap, trash bags, paper towels, cleaning supplies, change of clothes, toiletries, phone chargers, disposable silverware, and paper plates. 
  3. Order takeout- on the topic of food, now’s the time to embrace takeout. Use it as an opportunity to try out the new local restaurants!
  4. Labels- put a strip of masking tape on each box with the appropriate label, such as kitchen, bathroom, etc. Bonus points if you list the items inside!
  5. Towels over paper- instead of buying packing paper or bubble wrap, use your towels to wrap the fragile items.
  6. Closet to go- this one you may have seen on the internet: with your clothes still hanging in your current closet, just put a trash bag over them, leaving the hangers exposed, and you can easily hang them back up at the new place!
  7. Purge BEFORE you move- dedicate a weekend to going through your items to see what to donate, sell, or throw away. No point in moving items you don’t need, use, or want!
  8. Get a head start on furniture- it can take weeks, if not months, to get furniture shipped. Try to pick out your furniture sooner rather than later!
  9. Consider a new credit card- speaking of ordering furniture, there’s a good chance you’ll be dropping some money during the move. Similar to a wedding, this is a great time to consider a new credit card with some awesome welcome rewards for spending x amount in the first few months of opening it. 
  10. Keep sandwich bags on hand- you’ll be taking apart and reassembling furniture. Make sure you’re keeping everything sealed and clearly labeled!

 

Looking for help finding your new place? We can help ! Reach us at (717) 371-0557

 

Your Friends in Real Estate, Jason Burkholder Real Estate Team

——————

Jason Burkholder

Kelly Burkholder

Adam High

Jaci Hoosier

717-371-0557 direct or text

Welcome Home Real Estate

717-298-8040 office

57 E Main St, Lititz, PA 17543

 

 
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