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John Hersey, e-PRO Realtor

Everyone Likes A Sale, RIGHT??

Can you believe that many homes are selling for 25 to 30 percent less than they were just a few short years ago?

Do you realize that interest rates are historically low?

Put these two together and you have an awesome sale!! We are talking savings of thousands of dollars!!

If this was a Kohl's ad, you people would be all over it! Get out there and do your research, get pre approved for a mortgage, go over your numbers to be REALISTIC with what YOU can afford and be ready, just incase that perfect home comes on the market that you would NEVER want to miss out on.

It probably seems to you that many real estate agents and mortgage lenders are being a little pushy to buy NOW but it is because we know how great a situation this is!! It is also a really great investment if you do it the right way.

Please ask if you have any questions on whether now is the time for you.

Market Report for End of July 2010

Numbers for July are in!! The number of homes sold in York County through July were up 10% over last year to 2,343.

However, the median sale price was down 6% to $150,000. Are you waiting to see how low the prices will go. I wouldn't do that. As the rates go up, you lose any savings that you may have had with a lower mortgage. And NOW you are spending it on interest!!

Rates are still low and FHA is making another change that will add more to your monthly payment in Sept., so GET OUT THERE AND BUY!!

Over 33,000 reasons why you should buy a home NOW!

Did you know that if rates go up to just 6% from 4.5% that equals about $0.93 per $1,000 of principal and interest on a 30 year mortgage? 6% might sound high right now but when I bough a home in 1995 the rates were at 9.5%. Just ask those who bought before that when they were in the teens!

YES, that is $93 a month on only a $100,000 mortgage. That is an extra $33,480 of just interest over those 30 years!!

That is why people need to see the importance of these low rates and do whatever they can to buy! If you need help with getting started, JUST ASK!! That is why I am here!

Where Have All The Buyers Gone?

I can't believe with...

  • the number of homes for sale
  • the number of price reductions
  • the current interest rates

that there are not more buyers atleast trying to buy. Do they really need an incentive by the Govt. to jump in and take control of the best financial decision they could make in a while? Or is the economy and the lack of jobs that serious of a situaton that the number of buyers really is as low as it appears?

I know homes are selling but I also know I see a lot of decent deals out there and I can't believe people are not taking advantage of them...

Are they waiting to see how low they will go? I hope not. That could backfire because the rates could also go back up anytime. That makes a BIG difference in your overall buying power.

I know there are a lot of great buyers out there that are ALSO sellers! That is where their problem lies. They can't buy if they can't sell. WOW!

To anyone on the house buying fence, I would really advise getting in touch with a mortgage lender or bank and seeing if you qualify for a mortgage and how much, etc... These rates will not stay this low forever. They just can't. This may be the best time to buy and you don't want to be kicking yourself later, saying, "I should have... but I didn't".

Numbers are in for January through June of 2010

Numbers for June are in!! York County home sales were 2,049, up 18% compared to Jan-June '09 and the median sales price was down 6% for the same time frame to $150,000.

I am sure the tax credit had a lot to do with that. I predict these numbers will fall on the number of homes sold AND the median price will continue... to drop.

Rates are still low so get out there and buy!! They can't stay low forever!