Lancaster County PA Realty Check

Brownstown, PA Bilevel Coming Soon...

Wed, 17 Feb 2010 18:29:31 -0600

Brownstown, PA Bilevel Coming Soon...

Just in time to take advantage of the $8,000 First Time Homebuyers' Tax Credit! Gleaming new appliances, main bath with elegant marble floor and granite countertop, and a finished family room for entertaining...

For more information, email brian@cbselectpros.com or text or call (717) 951-5552.

Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

BREAKING NEWS: HUD Press Release - Important FHA Policy Changes for 2010

Sat, 23 Jan 2010 10:28:41 -0600

The FHA has had so many defaults that it has been depleting its mortgage insurance premium fund. Therefore it will soon be raising its fee to cover mortgage insurance. In addition, to make loans less risky, it will be reducing the amount of seller assistance allowable to the buyer.

Below is a HUD press release outlining the details. Buyers should take note: waiting to purchase will increase your costs once these FHA changes are in place!

Via Jeff Geoghan MBA - Lancaster PA Real Estate Expert (The Jeff Geoghan Realty Group, Coldwell Banker Lancaster PA):

FHA Announces Policy Changes to Address Risk and Strengthen Finances
New Measures Will Help FHA Better Manage Risk, While Maintaining Support for the Housing Market and Access for Underserved Communities

WASHINGTON – Federal Housing Administration (FHA) Commissioner David Stevens today announced a set of policy changes to strengthen the FHA’s capital reserves, while enabling the agency to continue to fulfill its mission to provide access to homeownership for underserved communities. The changes announced today are the latest in a series of changes Stevens has enacted in order to better position the FHA to manage its risk while continuing to support the nation’s housing market recovery.

The FHA will propose to take the following steps: increase the mortgage insurance premium (MIP); update the combination of FICO scores and down payments for new borrowers; reduce seller concessions to three percent, from six percent; and implement a series of significant measures aimed at increasing lender enforcement. U.S. Housing and Urban Development Secretary Shaun Donovan previewed the changes in December of last year, noting that the FHA would announce additional details before the end of January.

“Striking the right balance between managing the FHA’s risk, continuing to provide access to underserved communities, and supporting the nation’s economic recovery is critically important,” said Commissioner Stevens. “When combined with the risk management measures announced in September of last year, these changes are among the most significant steps to address risk in the agency’s history. Additionally, by continuing to provide affordable, responsible mortgage products, FHA will support the housing market’s recovery. Importantly, FHA will remain the largest source of home purchase financing for underserved communities.”

Announced FHA Policy Changes:

Mortgage insurance premium (MIP) will be increased to build up capital reserves and bring back private lending

The first step will be to raise the up-front MIP by 50 bps to 2.25% and request legislative authority to increase the maximum annual MIP that the FHA can charge.

If this authority is granted, then the second step will be to shift some of the premium increase from the up-front MIP to the annual MIP.

This shift will allow for the capital reserves to increase with less impact to the consumer, because the annual MIP is paid over the life of the loan instead of at the time of closing

The initial up-front increase is included in a Mortgagee Letter to be released tomorrow, January 21st, and will go into effect in the spring.

Update the combination of FICO scores and down payments for new borrowers.

New borrowers will now be required to have a minimum FICO score of 580 to qualify for FHA's 3.5% down payment program. New borrowers with less than a 580 FICO score will be required to put down at least 10%.

This allows the FHA to better balance its risk and continue to provide access for those borrowers who have historically performed well.

This change will be posted in the Federal Register in February and, after a notice and comment period, would go into effect in the early summer.

Reduce allowable seller concessions from 6% to 3%

The current level exposes the FHA to excess risk by creating incentives to inflate appraised value. This change will bring FHA into conformity with industry standards on seller concessions.

This change will be posted in the Federal Register in February, and after a notice and comment period, would go into effect in the early summer.

Increase enforcement on FHA lenders

Publicly report lender performance rankings to complement currently available Neighborhood Watch data - Will be available on the HUD website on February 1.

This is an operational change to make information more user-friendly and hold lenders more accountable; it does not require new regulatory action as Neighborhood Watch data is currently publicly available.

Enhance monitoring of lender performance and compliance with FHA guidelines and standards.

Implement Credit Watch termination through lender underwriting ID in addition to originating ID.

This change is included in a Mortgagee Letter to be released tomorrow, January 21st, and is effective immediately.

Implement statutory authority through regulation of section 256 of the National Housing Act to enforce indemnification provisions for lenders using delegated insuring process

Specifications of this change will be posted in March, and after a notice and comment period, would go into effect in early summer.

HUD is pursuing legislative authority to increase enforcement on FHA lenders. Specific authority includes:

Amendment of section 256 of the National Housing Act to apply indemnification provisions to all Direct Endorsement lenders. This would require all approved mortgagees to assume liability for all of the loans that they originate and underwrite

Legislative authority permitting HUD maximum flexibility to establish separate "areas" for purposes of review and termination under the Credit Watch initiative. This would provide authority to withdraw originating and underwriting approval for a lender nationwide on the basis of the performance of its regional branches

In addition to the changes proposed today, the FHA is continuing to review its overall response to housing market conditions, and continuing to evaluate its mortgage insurance underwriting standards and its measures to help distressed and underwater borrowers through FHA/HAMP and other FHA initiatives going forward.

###

HUD is the nation's housing agency committed to sustaining homeownership; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development ad enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.

Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

It's Time For Realtors to Stand Firm on Not Doing Open Houses

Tue, 12 Jan 2010 07:31:45 -0600

The following article makes a a good case for both the ineffectiveness and the security risks of holding open houses. There are far more effective ways to market a home to a wider audience.

Via Lee Morof, Associate Broker/Attorney (RE/MAX Showcase Homes):

Every year I order the results of the National Association of Realtors (NAR) Survey of Home Buyers and Sellers. I am particularly interested in How the Buyer Found His or Her Home in the last year because that determines where my marketing efforts will go to sell the homes that I list. Because the numbers pertaining to open houses are so dismal, it is no longer a category in the survey results. I do understand that open houses were more successful before personal computers and the internet but now, approximately 90 percent of buyers begin their home search on the internet. Thirty six percent will find their home on the internet, another thirty six percent will find their home through the help of a realtor, twelve percent from a yard sign and six percent from a friend, neighbor or a relative. That covers ninety percent. Another five percent, will purchase new construction from a home builder or the builder's agent.

So why do some realtors continue to do open houses? I find that generally two types of realtors continue to do open houses despite the numbers. The first category is the realtor who has not adapted to the internet. He or she refuses to accept that it is here to stay and plans to retire in the next few years, so why bother? The other category is the new and inexperienced realtor. Both categories of realtors have just a few listings and hope to acquire some buyers from the open houses. The reality is that qualified buyers who are looking for a home such as the one listed by the realtor will find it from the top sources listed above and either call the listing agent or have his or her own realtor schedule a showing.

Open houses are also a HUGE security risk for the sellers and the realtor. We all have been notified by our Boards of murders, robberies, rapes, etc. that have occurred at open houses. Let's face it. A realtor has no control over who is coming through the door at an open house. By doing so, you are leaving the door wide open to those who have motives other than buying a house. Besides those who intend to do harm to a realtor, you invite nosy neighbors, people looking for free food or a bathroom, and burglars to see what the seller has inside the home for him to take when no one is home.

At every list appointment that I have, I advise the seller prospects about the facts of open houses. Almost all of them, after being given the facts,, respond with "That's great. We were worried that you would want to do open houses and we are not comfortable with idea." Since I have been doing this in listing appointments, I have never had a seller insist that I do open houses. If I do, I will pass on the listing. A seller who refuses to accept the facts, will probably be difficult when it comes to the many other things that come with selling a home such as pricing, taking care of the home, etc.

I sell approximately 85% of the homes that I list. I am not a "mega" lister. I am interested in the quality of the seller and his or her home they want to sell and its price. When other realtors are doing open houses, I am doing things that are much safer and productive like showing homes to buyers who contact me through the internet or yard signs or just having some me time.
Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
www.NorthWoodwardHomes.com
info@NorthWoodwardHomes.com
Call: 248-514-2640

Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

The Cost of Waiting for First Time Home Buyers

Tue, 05 Jan 2010 08:14:29 -0600

The following analysis for first time home buyers is so important that I felt the need to expose it to more home buying prospects. Whild the economy is still unsteady, certain factors can be measured and quantified, including how much equity and savings can be gained by purchasing a home before April 30, 2010 and getting it settled before June 30, 2010.

Via Charles Dailey (iLoan):

Ever since the first version of the first time home buyer tax credit, home buyers have been eager to engage but uncertain about home values and for some, this has caused them to sit on the sidelines. I am not writing to suggest that this consideration is good or bad cause for not taking advantage of the first time home buyer tax credit. I’m strictly writing from the perspective of a financing nerd. Two influences will converge in April of next year that should serve as the decisive factors for causing first time home buyers to understand that this time, waiting will have a cost. What’s more, that cost can be quantified.

The first factor concerns the expiration of the first time home buyer tax credit. Sen. Benjamin Cardin introduced S.B. 1678 with bi-partisan co-sponsors (including Harry Reid) and it will only extend the credit for 6 months from its expiration date. The 6 month extension was a disappointment for those who were hoping for a 12 month extension but Zillow estimated that a 12 month extension would cost approximately 14.86 billion based on current trends if that were to happen and 6 months seemed to be the fiscally responsible compromise. This bill would set the tax credit to expire at the end of May and it doesn’t look likely that it would be extended barring a double dip recession. It did not pass overwhelmingly and there was a of of opposition to the cost.

The second factor has to do with Ben Bernanke and the Fed. In an effort to keep mortgage rates low and the secondary market machinery of the mortgage industry working, the Fed agreed to purchase 1.25-1.45 trillion dollars of mortgage backed securities. Estimates of the impact of this effort on interest rates ranges from lowering them by 0.375% to 1 % but I find 0.5% to be credible. The MBA rate forecast also lends credence to this assumption (shows rates going to 5.7 by year's end). The Fed has announced that they will bring an end to this effort by March of 2010. Consequently, we can expect a bump in rates in April of 2010 barring a double dip recession. What’s worse is that there have been rumors that the Fed is doing to start selling some of what they bought and this could have the effect of driving rates up faster.

These two changes could cost first time home buyers tens of thousands of dollars if they don’t act in time. Not only does an interest rate that’s ½ of one percent lower create a lower monthly payment but it pays down the principal balance faster on the front end of the amortization cycle. If these two factors are added to the value of the tax credit the exact loss (financially speaking) to first time home buyers can be calculated if the assumptions are to be trusted. Here are some examples:

Purchase Price

$125,000.00

$150,000.00

$200,000.00

$225,000.00

$250,000.00

$275,000.00

$300,000.00

$325,000.00

Loan Amount

$120,625.00

$144,750.00

$193,000.00

$217,125.00

$241,250.00

$265,375.00

$289,500.00

$313,625.00

10 year monthly payment differential assuming ½ point change to rate

$4,482.53

$5,379.03

$7,172.04

$8,068.55

$8,965.06

$9,861.56

$10,758.07

$11,654.57

10 year amortization differential assuming ½ point change to rate

$1,446.21

$1,735.45

$2,313.93

$2,603.17

$2,892.41

$3,181.65

$3,470.89

$3,760.13

tax credit

$8,000.00

$8,000.00

$8,000.00

$8,000.00

$8,000.00

$8,000.00

$8,000.00

$8,000.00

Potential Loss of Waiting

$13,928.74

$15,114.48

$17,485.97

$18,671.72

$19,857.47

$21,043.21

$22,228.96

$23,414.70

While it may have been unclear before as to when the right time to jump into the market might be, these factors combine to calm some nerves because even if home values do dip again at the end of the year, the savings from the combination of capitalizing on lower rates combined with the tax credit should offset value drops, should they occur.

Zillow’s analysis of current market trends shows that, if the credit had been extended for 12 months, a total 1.86 million first-time home buyers would purchase homes between Dec. 1, 2009 and Nov. 30, 2010. We didn’t get the credit extended that far. I wonder how many are going to pack those plans into the first part of the year.

Well we've got less than six months now so let’s saddle up!

Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

A Story of Two Historic Homes on the Marietta PA Candlelight Tour

Wed, 23 Dec 2009 08:32:24 -0600

Back in the 1980s, I was restoring two homes in Marietta, PA. One was an 18th century log & stone home, and the other was a Federal mansion that had been cut into apartments, sustained a fire, lost its roof and been condemned. As the Christmas season approached, I thought it would be good publicity to put them both on the annual Marietta Candlelight Tour of historic homes, even though they were far from finished.

As rough as they still were inside at the time of the tour, I decorated them with greenery and a tree. I had a display inside the stone & log house showing some of the things I had dug up under the floor, which had needed to be replaced. There were hand-blown bottles, shards of crockery, and even a rusty Derringer pistol!

We received many positive comments from the visitors who had bought tickets to the Candlelight Tour!

Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

Expanded Home Buyer Tax Credit is About to Become Law!

Fri, 06 Nov 2009 08:31:33 -0600

Expanded Home Buyer Tax Credit is About to Become Law!

The Senate has overwhelmingly passed an expanded home buyer tax credit, 98-0. Yesterday the House passed the new bill as well!

It now goes to the President, who has supported it and is expected to sign it into law.

The new tax credit bill does several things. First, it will preserve the tax credit for last-minute buyers who are having difficulty getting mortgage approval early enough for settlements before December 1, 2009.

Second, it extends the expiration of the $8,000 First Time Home Buyer Tax Credit for contracts on a principal residence written before May 1, 2010, with settlement taking place before July 1, 2010.

Third, the new bill expands to include a $6,500 tax credit to homeowners trading up who have lived in their homes for 5 out of the last 8 years!

Lancaster County PA first time home buyers who were afraid of missing the previous home buyer tax credit deadline can now relax a bit - and present home owners considering trading up can now get in on the action!

Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

First Time Buyer so you like to live dangerously ? - Well now you are on the edge.

Tue, 27 Oct 2009 14:31:33 -0500

Time is quickly running out for the $8,000 First Time Home Buyer Tax Credit. Homes must be settled before December 1, 2009 in order to qualify for the credit. A recent post by Jennifer Fivelsdal spelled out the situation.

This can be cash in your pocket from Uncle Sam! If you live in Lancaster County PA and want to take advantage of the tax credit, email brian@cbselectpros.com or call (717) 951-5552.

Via Jennifer Fivelsdal, Fishkill NY (Keller Williams Realty Team - Real Estate Agent):

Ms. First time buyer you spent the last several months looking at homes, actually you pretty much went through the entire inventory within your price range; foreclosures, single family homes, and townhouses yet you never pulled the trigger.

The $8000 tax credit for first time buyers was something you hoped to get; yes who doesn't like free money. News flash for you , it is now mid September and based on how long it is taking to close on a home I would say you are right on the edge.

No more opportunity to delay, you have come to the end of road; so make it a top priority to pick out that property this week and just maybe you can close by November 30Th and benefit from the tax credit.

Jennifer Fivelsdal- Associate Broker- Keller Williams Realty Team - 845-758-6842- jennifer@jfivehomes.com and www.jfivehomes.com

I would love to assist you with your real estate needs.

SEARCH FOR HOMES IN THE HUDSON VALLEY

Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

Restoring Old Houses

Mon, 04 Feb 2008 12:08:13 -0600

Buying and restoring old houses is indeed a labor of love! In my career I have restored a number of homes, including in historic Marietta PA. You still need to be cognizant of costs, and probably everything you estimate for renovations will turn out to cost more because of unknown factors you will discover during the course of the renovation.

The Victorian house in the photograph is a home that I once owned in Columbia, PA. The third floor had been in a fire and the roof destroyed. Still, there was beautiful oak and cherry woodwork inside.

Do be careful not to remove old paint with either a torch or sander, because of possible lead being released. A heat gun is a good solution because it softens the old paint without burning it. Burning off old paint is one of the reasons historic houses sometimes catch fire during restoration - there may be embers under the eaves, for instance, that go unnoticed overnight while the workers go home.

Having said that, if you love these types of houses and the ambience that they create, nothing new will ever compare with the joy of living and entertaining in one.

Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

The Linden House, Marietta, PA

Fri, 08 Jun 2007 17:54:50 -0500

In 1983 I purchased the Linden House in Marietta, PA. Built ca. 1805 by lumber magnate Henry Cassel, the 6,000 SF mansion had fallen on hard times. After being unceremoniously chopped up into ten low rent apartments, the roof had been burned off and the house condemned. The mansion had 606 window panes (yes, I counted them), most of which were broken. It also had three center halls, fifteen fireplaces including a walk-in fireplace in the summer kitchen, and an ornate fanlight over the front door.

Linden House Antiques was just one of the plans I had for the Linden House. I envisioned an antique dealer cooperative. My ultimate plan was to restore the mansion and live there in historic Marietta PA, but my ex-wife could not be convinced to give up her modern home and live across the street from an industrial plant which blocked the original Susquehanna River view.

I loved that house. I could picture the fabulous parties that must have been given in the early days, with those beautiful center halls and stairway, and the linden trees for which it was named, that lined a walk all the way down to the river. I always felt that I was entering another century when I went into the back kitchen door of the house, with the walk-in fireplace. As soon as the door closed, all the modern traffic noise went away, and there was a certain serenity inside. I actually felt like I was communicating with the original builders as I uncovered their original materials.

Another corporation I started was Linden Realty, which I would have headquartered there. Unfortunately, I ran out of money after I had gotten the house back to its original configuration, removed 110 tons of debris out of it, saved it from condemnation, and made it weathertight again. I had to sell it at a loss in 1985 before I could start the actual restoration, after all the work I put into it. The mansion was subsequently allowed to deteriorate again.

Recently the present owner, who purchased the house in 2004, found me on Localism.com and contacted me! He was looking for early photographs of the house as he continues the restoration. I will have to look in my archives, because I too had searcched for early photographs so I could do an accurate restoration. I also took many photos of the Linden House before and during my work on it. I'm looking forward to seeing the progress he has made. Don't ever believe that no one will see you on Localism.com!

Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

Are Lancaster County PA Home Mortgages Harder to Get These Days?

Thu, 15 Oct 2009 19:12:18 -0500

Are Lancaster County PA Home Mortgages harder to get these days? If so, it's not because the Lancaster County housing market is slower than other areas of the country - in fact, Lancaster County is up 30% over last year for real estate sales!

See the press release below published by the Lancaster County Association of Realtors:

Local Home Sales Continue to Rebound August 2009 pending home sales up 30 percent

Lancaster, PA (September 22, 2009)-Lancaster County's real estate market continues to show signs of recovery, according to a recent report released by the Lancaster County Association of Realtors® (LCAR). In August 2009, pending home sales were up 30 percent over August 2008 with most price ranges seeing double- digit growth in pending sales.

The $100,000 to $200,000 price range has proven to be 2009's strongest performing market with pending home sales up 45 percent in August 2009 versus August 2008. Growth in other price ranges is an indication that the first-time homebuyer tax credit has had a "trickle up" effect that has reenergized the real estate market as a whole, LCAR members say. In August 2009, pending home sales were up in the $0 to $100,000 price range (26.5 percent), $200,000 to $300,000 price range (13.7 percent) and $400,000+ price range (36.4 percent) over August 2008.

"We've seen a tremendous number of first-time buyers realize the dream of owning their first home. We're also seeing buyers and sellers in general regain confidence and move ahead with their homeownership goals," commented Scott Ulrich, president of LCAR.

A September 2009 article in BusinessWeek magazine recognizing Lancaster as the 19th strongest housingmarket in the U.S. further affirms that the local real estate market is fundamentally sound. With mortgage rates continuing to hold steady at historically-low rates, ample inventory available at all price ranges and a seeming boost in consumer confidence, LCAR looks for sustained market improvement.

As I discussed in Lancaster PA mortgage rate analysis, government overspending and overborrowing is robbing the credit markets of private money that could have been lent to private investors who would have restarted the recovery.

Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

Stunning Elizabethtown PA Contemporary Home For Sale

Wed, 23 Sep 2009 17:45:16 -0500

Stunning Elizabethtown PA Contemporary Home For Sale

Take a look at this lovely Elizabethtown PA contemporary home with its stone trim and beautiful open floor plan! The soaring Palladian windows frame a cozy gas fireplace in the 2-story great room.

You'll love the custom cherry den with its built-in cherry desk, shelves, cabinets and entertainment center.

The first floor master bedroom suite and first floor laundry add to the easy living style.

Entertain in the formal dining room with its tray ceiling, chair rail and wainscoting. Professionally lighted landscaping surrounds the house.

P.S. - THIS HOME QUALIFIES FOR ZERO-DOWN USDA FINANCING!

Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

How Should We Be Commemorating 9/11?

Fri, 11 Sep 2009 17:35:15 -0500

How should we be commemorating 9/11? There seems to be some dilution of the poignant memories of what happened to this nation on September 11, 2001. I watched the morning news today, and on most networks there was hardly any footage of the terrible things perpetrated on our country eight years ago.

OUr President in Washington DC, and the Mayor of New York at the site of the World Trade Center both mentioned something similar - that this day should be spent in community service in honor of those who gave their lives that day. Kathleen Sebelius, the Secretary of Health wrote a letter to her employees expressing a similar theme.

But should community service be foremost on the anniversary of the deadliest day in our nation's history on American soil at the hands of a foreign enemy? (Yes, I realize that there were days of greater losses during the Civil War).

The attacks on the Trade Center, the Pentagon, and Shanksville, PA were acts of war by a foreign enemy, not crimes to be dealt with by a judiciary. September 11 is a day in which we should remember what happened on that terrible morning, remember and honor the men and women who lost their lives, and those heroes who put themselves at risk, sacrificing in many cases their own lives and health.

We also should honor the brave men and women of our military - as we vow not to allow such an attack on our country to occur ever again.

Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

Lancaster PA First Time Home Buyers Should Avoid This Settlement Date!

Tue, 21 Jul 2009 16:28:50 -0500

By now, many first time home buyers are aware of the $8,000 First Time Home Buyer Tax Credit. A first time home buyer is defined as a buyer who has not had an interest in a primary residence within the past three years. The tax credit provides a credit of 10% of the purchase price of a home to the buyer, up to a sale price of $80,000; hence, first time home buyers are eligible to receive checks from the IRS in amounts up to $8,000!

The tax credit is only in effect for settlements which take place BEFORE December 1, 2009 - i.e., the settlement must take place no later than November 30, 2009. The tax form with which to apply for the tax credit is IRS Form 5405.

Bear in mind that in today's credit atmosphere, it can take a minimum of 45 days to get a mortgage approved. Therefore, it would be desirable for first time home buyers to have a home selected and under agreement no later than early October 2009.

What's going to happen as we get closer to the deadline fot the $8,000 tax credit? All the first time buyers who haven't yet bought a house are going to be in a rush to get their purchase on the books in time to be eligible for the credit.

When is the latest allowable settlement date? November 30, 2009, which happens to fall on a Monday. That date is going to be the craziest date for settlements that anyone has ever seen! It will be hard to reserve a time with a title company to hold the settlements, and there will be delays with financing packages from lenders due to the rush.

Some settlements will be delayed for one reason or another until the following day - and there goes $8,000 out the window.

My suggestion? If you're a Lancaster County, PA first time home buyer, don't wait for the last minute to look for a home. Leave plenty of time for your settlement - and don't schedule your settlement for the last day in November.

Brian Schulman offers expert real estate representation for buying and selling homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

Lancaster PA Singles Have a Blast at a Regional Dance

Wed, 09 Sep 2009 17:10:41 -0500

Lancaster PA Singles Have a Blast at a Regional Dance:

New Singles sponsored one of the biggest dances in the south central PA region Saturday night. The dance was held at the Wisehaven Banquet and Expo Center, York, PA.

The dance featured The Hubcaps Band, one of the finest rock'n'roll bands in the area.

Singles came from all over Lancaster County, York County, Adams County, Dauphin County and even Maryland, as far south as Baltimore!

The banquet hall was beautiful, with seating on the main floor plus tables on the second floor balcony as well.

A number of members of the Red Rose Singles of Lancaster PA were in attendance, as well as many friends and acquaintances from other dances in adjoining counties.

I estimated that over 500 singles came to the dance - and you wouldn't believe the energy in the room once The Hubcaps started their music...

I had only my cell phone with me, but no separate camera, so the photos I took in the dimmed light do not really do justice to the atmosphere or to the size of the crowd - but you can decide for yourself if they looked like they were having a great time!

Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

Pets Are Underreported Victims of Foreclosure

Fri, 14 Aug 2009 19:37:22 -0500

Pets seem to be an underreported side effect of foreclosures of the ongoing recession.

Most foreclosed families don't have any choice but to rent. And many landlords won't accept pets.

I have seen unfortunate pets abandoned or left behind during tenant rental evictions for years. I have discovered abandoned pets locked in a vacated apartment without food or water!

Now, with the addition of mounting foreclosures, the phenominon has become even more widespread.

Humane shelters are overrun with surplus pets, and many people are reluctant to take unwanted animals there because the pets may be euthanized if not adopted within a relatively short period of time.

Organizations like ORCA (Organization for the Respect and Care for Animals) do not euthanize - but they are chronically short of money to care for the animals they treat, and often are only able to accept distressed animals.

What can be done to alleviate the situation?

Donate money, food or time to your local animal shelter.

Make a donation to ORCA so that they can continue their mission of mercy.

Find a willing home for a pet you can't keep.

PLEASE, PLEASE, NEVER abandon a pet either inside or outside! They are living creatures who have a right to food, water and shelter!

Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/

Purchase Price	$125,000.00	$150,000.00	$200,000.00	$225,000.00	$250,000.00	$275,000.00	$300,000.00	$325,000.00
Loan Amount	$120,625.00	$144,750.00	$193,000.00	$217,125.00	$241,250.00	$265,375.00	$289,500.00	$313,625.00
10 year monthly payment differential assuming ½ point change to rate	$4,482.53	$5,379.03	$7,172.04	$8,068.55	$8,965.06	$9,861.56	$10,758.07	$11,654.57
10 year amortization differential assuming ½ point change to rate	$1,446.21	$1,735.45	$2,313.93	$2,603.17	$2,892.41	$3,181.65	$3,470.89	$3,760.13
tax credit	$8,000.00	$8,000.00	$8,000.00	$8,000.00	$8,000.00	$8,000.00	$8,000.00	$8,000.00
Potential Loss of Waiting	$13,928.74	$15,114.48	$17,485.97	$18,671.72	$19,857.47	$21,043.21	$22,228.96	$23,414.70