Home sales continue rebound
First-time homebuyers spurred by federal tax credit

The road to recovery continues to be paved by first-time homebuyers.

Lifted by a surge in sales of entry-level homes, pending home sales here jumped 26.8 percent in September.There were 464 pending home sales last month, up from 366 in September 2008, the Lancaster County Association of Realtors reported Tuesday. READ MORE.....

SOURCE: Intelligencer Journal Lancaster New Era - Oct 28, 2009

Type Loan
2010
Local
Average
2010
National Average
2009
National Average
15 Year Fixed
4.60%
4.54%
4.83%
30 Year Fixed
5.26%
5.14%
5.10%
  Rates as of 01/18/10
 Source:  www.realestate.yahoo.com

Should I Wait Until Prices Go Lower to Buy?

The housing market is currently in a cyclical downturn, and conditions are ideal to purchase a home. Here's why:
  • - Interest rates are at historical lows
  • - Home prices have decreased
  • - There is a large inventory of homes on the market to     choose from
  • - For qualified buyers who purchase a principal residence before April 30, 2010, there is up to an $8,000 tax credit available to first-time buyers and up to $6,500 available to repeat buyers. 
  • - Some states are offering special short-term tax credit loans to help buyers with upfront closing costs or down payments.  READ MORE....

SOURCE: NATIONAL ASSOCIATION OF HOME BUILDERS

HOME SALES INCREASE

The National Association of REALTORS® (NAR) reported on Thursday of this past week that existing home sales for the month of June increased for the third month in a row fueling speculation that the housing downturn is starting to reverse direction. Excerpts of NAR’s press release¹ follow:
READ MORE.....

SOURCE: 7/29/09 LANCASTER COUNTY ASSOCIATION OF REALTORS