Collegeville, PA

As Realtors and residents of Collegeville, Pa, Jayne and I would like to share this information for people thinking of moving into the area:

Collegeville, Pa is 22 miles NW of the city of Philadelphia. Residents have easy access to Philadelphia, New York, the Jersey Shore and the Poconos. As of 2009, Collegeville's (zip 19426) population is 37,668. The growth since the 2000 was 19%.

The average age of homes is on the "young" side and property taxes are reasonable but adequate for the funding of local schools and services.

The median home cost is $282,000 and home appreciation in the last year has been -5.90 percent.

There is ample shopping, including the Kink of Prussia Mall, The Philadelphia Premium Outlets and a brand new "high end" shopping center featuring establishments like Wegman's, PF Chang etc.

Local public schools in the Collegville area include: Perkiomen Valley SD, Springford SD and Methacton SD. Collegeville public schools spend $7,656 per student. The average expenditure in the country is $6,058. There are approximately 18 students per teacher in Collegeville, Pa. The local college is Ursinus College. Ursinus was esatblishes in 1869 and was rated among the "Best 361 Colleges" in America by the Princeton Review.

The unemployment rate in Collegeville is 6.70%, below the national average.

More families and individuals may be eligible to become homeowners with the help of a USDA guaranteed home loan.

The federal government agrees to "guarantee" a loan, therefore lending institutions can help buyers while incurring less risk.

Through this program, low and moderate-income people can qualify for mortgages even without a down payment.

TO BE ELIGIBLE:

1. Applicants must have adequate and dependable income.

2. Be a U.S. Citizen, qualified alien, or be legally admitted to the USA for permanent residence.

3. Have an adjusted annual household income that does not exceed the moderate income limit established for that area.

4. Applicants may be eligible to make adjustments to gross income, such as annual child care expenses and $480 per child, in order to qualify.

5. Have a suitable credit history.

6. Have repayment ability based on total debt divided by gross monthly income must be equal to, or less than, 41 percent.

7 reasons for buying in 2009:

1.First-time buyer tax credit ($8,000 or up to 10% of the cost of the purchase) EXPIRES soon

2.Mortgage rates remain near historical low (around 5%)

3.Best affordability and prices since 2003-2004

4.Better choice of inventory - distressed, resale, new

5.Motivated sellers may be more willing to give concessions

6.Federal, state, and local grant or assistance programs

7.Low down-payment programs - FHA, VA

If you're renting and have a stable job with some savings, and a credit score in the high 600 range, you can likely qualify for FHA or conventional financing at historically low rates.

The key question you need to consider is,of course, why are you still renting? Think about it........ If your reason is fear, then it may be time to let go of that fear and focus on the facts of homeownership. Here is one example:

I can't afford to buy my dream home.

The best way to get closer to buying your dream home is to buy your first home. TRUE OR FALSE?

When you're looking for a real estate professional to help you, know that above all else good agents put their clients first.

Put The PammerKerkering Team in your corner!!

We will educate you about your market. We will analyze your wants and needs and guide you to homes that fit your criteria.

We will coordinate the work of other needed professionals.

We will negotiate on your behalf.

We will check and double-check paperwork and deadlines.

We will solve any problems that may arise.

Call us today and we can get you started....www.pammerkerkeringteam.com

Existing home sales have been increasing steadily. Also on the rise are home prices, an all-important indicator of stability. In today's "beat up" market, rising home prices translate to a more balanced supply and demand picture. Be the one to sell your current home to a first-time buyer and continue to capitalize on historically high affordability conditions. The housing "inventory" is also steadily getting smaller which will also translate to a more balanced supply and demand picture. We are still well below mortgage rates averaging 6.52% one year ago. As an existing home owner, it is to your advantage to "trade up" and net increased appreciation and value in your new property.