are we stupid

Are we stupid? you may ask why would I ask this ? because I can't believe what is going on and we let it. This January 1, 2011 Pennsylvania the first state in the nation will require sprinklers in single family and duplex properties. And the chorus of "but it's for your own good" rises to a crescendo.. it amazes me how many people don't even know that this is going into effect. The cost of this along with some other "no value to the buyer" added requirements is going to add approx $10,000 to the cost of a new home. Some buyers think well our insurance is going to go down, my first hand experience with investment properties that we own was the same units with sprinklers cost us an additional $100 per year over the same unit without sprinklers. This theft of your hard earned money came about because of the sprinkler industry getting the right lobby to yell loud enough. Most don't even understand that the sprinklers are not designed to save your home but give you an additional 7-9 minutes to get out of your house. York County also has the hardship of having properties on wells which will require additional pumps etc. I have yet to see facts or figures on how this will save anymore lives than smoke detectors. why do we not get to choose? I guess we are just too stupid.....

It amazes me how the media only wants to cover the negative, they lead with housing sales down 27%, I don't not see it, we are actually up significantly, I am seeing more of what i call the educated smart buyer getting back into the market, the buyers with lots of equity, the people who are putting money down. we are seeing more people taking advantage of the lowest interest rates we have ever seen and we are not new to the real estate industry. while it is true you are not selling your house for as much as you would have a ways back but you are not going to pay as much for what you are buying either. I am seeing developers buying development land and builders buying inventory again but the media does not want to hear this stuff even when we tell them they only go with the negative...

Just a point

Would $122 extra dollars each month make a difference in your budget?
-A night out on the town?

What would you do with an extra $1,466 per year?
-A nice vacation?

Does a savings of nearly $44,000 over 30 years sound appealing?
Wow!

Well, that is the difference between a 4.5% interest rate and a 5.5% rate on a $200,000, 30 year loan.

An upswing of just one percentage point can make a difference in not only the monthly principal and interest payment, but also impact your buying power.

The payment on a $225,000 loan paying 4.5% over 30 years is less than $5 per month more than what you would pay on a $200,000 loan at a 5.5% rate.

Rates are currently at or near historic lows. Don't miss this opportunity!

Tax Credit Still Available for Military Personnel

If you (or someone you know) were serving overseas between January 2009 and May 2010, you are still eligible for the $8,000 first-time homebuyer and the $6,500 move-up tax credits. Don't miss out on these opportunities if you are eligible. Talk to your real estate professional today!

So Long, Sunbelt

Older Baby Boomers (aged 55-64) are not just prolonging retirement plans. They are also changing their housing preferences. Boomers who can afford to moving are choosing to go closer to children and grandchildren instead of heading south for the Sunbelt. A recent survey conducted by real estate advisory firm, RCLCO, found 75% of boomers were interested in mixed-age and mixed-use communities. Walkable, suburban town centers seem to be a popular solution for these Boomers.

It will be interesting to see how this trend plays out over the next decade. Could this create an increase in time spent with family? With greater economic strain placed on parents, perhaps they will lean on grandparents to take care of the kids? This could also be good news for Pennsylvania, which has witnessed a great deal of residents leaving the "Ironbelt" for the "Sunbelt" over the last two decades.

Other interesting generational trends:

• Younger Boomers (46-54) are feeling "stuck" in their homes due to flat incomes, lost home equity, and children moving back home. This segment is the largest, which means less younger homebuyers are available to "move up" into these larger homes. Instead, these homes might become an attractive option for immigrant families, who are seeking larger homes for their larger household.
• Generation Y (teens-early 30s) are an emerging force in the home market. This segment of the population values community above all. However, this generation is much more unpredictable than others. It will be interesting to see the behavior of this segment unfold over the next decade.

Electric Rate Caps

Our goal is to alert the public of what is going on in real estate land. I am sure you have all heard about the rate caps expiring the end of 2010 which will mean a significant increase in the cost of electricity. PPL has already started raising their rates some of our client are reporting seeing 20% increases thus far. One way you may want to leel the field is shopping rates for different providers, on August 3rd from 6-8 pm York Adams Smart Growth Coalition will be hosting a service provider fair at Heritage Hills Resort. There will be specialists on hand to answer questions. It is a free event but registration is required. You can contact Shanna Wiest at shanna@yorkadamssmartgrowth.org or call 870-1230. This should make it easy to compare and hopefully make this change less painful,

Getting Your Home Ready for Photos

I handle a lot of the marketing for The Sold Team of Century 21 Heritage Realty. One of my most frequently asked questions is "What do I need to do to get ready for photos?" First impressions are by far the best impressions and when selling a home, first impressions are especially important. "First" photos are uploaded to the MLS system and a ton of websites feeding off the MLS system. Some websites are harder to maintain, so getting them right the first time, is extremely critical. Sellers can help the process by having homes lightly cleaned, pillows fluffed, blankets put away, papers collected, beds made, and toilet seats down. Virtual tour photos pickup everything in a room, so it is very important to have all rooms tidy and free of debris. Toys should be put away in a closet. Kitchens and bathrooms should have counters free of objects. If possible, hang accent towels, in decent condition, to add color.

Don't forget the exterior! The most important photo taken of your home will be the front elevation, so please give your exterior special attention. Mow the yard, pull weeds, plant pretty flowers, freshen up mulch, store toys, have driveways free of vehicles. Look at your house from the curb. Put yourself in the mind of a buyer, and make sure it is a home you would still want to purchase. Professional stagers are available to assist homesellers with their questions, but most of the time, all a home needs is some extra TLC.