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Real Estate Finance & Financial Info

Do you “make enough money” to buy a home? Probably yes!

Have you thought about owning but didn’t think you “made enough money” to buy a home?

Short Sales are the Answer! But What Was the Question Again?

I was reading an article on CNN Money.com today titled “How to rescue the housing market: Foreclosures!”.   Not a great title I would say and more importantly in my opinion not a great concept at all.

The gist of the article is that the government needs to reverse the policies of the last 4 years since the housing downturn and actually encourage foreclosures as a means of “stabilizing” the housing market.  They included this interesting graph (above) showing how more home owners are becoming delinquent for longer periods of time.  (read on after the jump for more)

Again, Zillow Ranks Lancaster PA one of the Best Places to Buy a Home Right Now!

Welcome Back Readers!

Once again Zillow.com  has ranked Lancaster County as one of the best places to buy a home right now!   As reported on Forbes.com yesterday, due to “affordability, as measured by home price to income ratios; the unemployment picture (both the absolute figure and how it’s trending over time); the foreclosure situation; and year-over-year housing price trends”  Lancaster County PA is the 8th Best Place to buy a home in the nation!  Read on after the jump for more!

Help with Foreclosure in Lancaster Pa, Foreclosures Rising

http://www.flickr.com/photos/jacob_ruff/3349494481/Welcome Back Readers.  Today we are touching on a timely topic for many.  Foreclosure.  Timely for many, as an article about it in today’s paper was titled “Record number losing homes”.  Ouch.  Record number. 

The article cites 2010 Lancaster County Pa Foreclosure filings as setting a new record at 1,334.  This is an increase over 2009 at 1,319.  But who really expected differently?  With the state of the economy, I look at those numbers and am surprised they aren’t higher.  That figure represents an increase of 1.21%. 

That’s the new record, up 1.21%.  If all we are going to do is talk statistics, that is nothing, an anomaly, barely worth a mention in the history books.  In the end, statistics, nameless, faceless statistics are what these numbers become when reported this way.  And therin lies the problem.  Read on after the jump to find out more.

Home Buyer Incentives for Lancaster Pa Homes for Sale

Welcome Back Readers!   Today we’re talking about Buyer Incentives.  You’ve seen them, buy this house and seller will pay selling agent bonus, seller will include new Cadillac, enter contest to win a Cruise to Bahamas.  Now, not many sellers have been offering these types of incentives in Lancaster, but in new construction we have seen No Mortgage Payments for a Year, $40,000 in Builder Upgrades, buy our home and if yours doesn’t sell we buy yours, etc. 

On the surface, you might think these are all great ideas, but they aren’t.  They are actually terrible ideas.  Read on after the jump to find out why!

Is There a National Real Estate Transfer Tax On All Homes Sold After 2012?

Image courtesy of Alan Cleaver via Flickr

Welcome Back Readers!  Thanks for stopping by again!  There’s alot of emails that circulate during an election year, one of the most common ones this year relates to a real estate is that the federal health care legislation (affectionately called Obama-care) passed in March 2010 contains a 4.0% transfer tax on all real estate sold after 2012.  You might be wondering if this is true or not.  Well, in short the answer is no.  There is no national transfer tax on all real estate.  

But like all great myths, this one does have a small grain of truth to it.  There is indeed a tax on certain real estate transactions specified in the bill, read on after the jump to find out more! 

Help with Foreclosure

Welcome Back Readers!   Thanks for stopping by again, I just wanted to take a minute and let you know about a new website from Fannie Mae.  The site, www.KnowYourOptions.com is full of great information regarding forclosure and as the title would suggest, what your options are.  Check it out and if you are thinking of selling your home to avoid foreclosure, call me, I will be happy to help you through!

10 Simple Steps to Buying a Lancaster County PA Home

Welcome Back Readers!  Ok, so you’ve decided to buy a house.  What do you need to do?  How does the process work? I’m going to give you a simple 10 step approach to buying a home “the right way”.

Is it the right time to buy a house?

http://www.flickr.com/photos/billtex48/886589178/

Photo Courtesy of B&M Photography

To buy a house or not to a buy a house, that is the question.   It’s a big decision, some would say due to the huge impact it can have on your lives it’s the biggets decision you’ve ever made.  Some people will tell you to buy a house right away, others will tell you to wait a few years.  These opinions vary between friends, family members, co-workers, even Mom and Dad might disagree on the right thing for you to do.  Who’s right, what should you do?

Well, the short answer is that it’s completely up to you.  You should rely on the advice of friends and family, their experiences can save you a lot of trouble, but in the end no one can make this decision but you and your spouse.  As a Realtor, I get asked all the time by nervous buyers whether I think they are making the right decision and while I am happy to give advice, my answer is always the same, it doesn’t matter what I think, because in the end YOU will be living in whatever home you buy and YOU will be paying for it.  For that reason and that reason alone, you need to tune out everyone else’s opinions and focus on what you want to do.

Craigslist Rental Scams

Scam Check, http://www.flickr.com/photos/cafemama/3638263765/Welcome Back Readers!  Thanks for stopping by, I wanted to pass on a little info about a scam that has been happening across the internet, as always if something sounds to good to be true it probably is a scam.

If you think Nigerian Bankers are the only ones out there scamming people, I have news of a new (well not new but it’s becoming more widely used) scam involving craigslist and real estate rentals. (read on to find out more)