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Lancaster Home Search Blog

Wednesday, October 10, 2012   /   by Jeremy Ganse

Strategic Default: 32% Believe it's OK

“Our research into the consumer opinion of the economic crisis of 2008 found alarming results. What jumped out is how many Americans feel it is acceptable for homeowners to walk away from a mortgage and go into foreclosure. If Americans carry on with that mindset, it will continue to cause problems as the economy undergoes a slow recovery.”
What is Strategic Default?.  Do you think it's ok to just walk away?  
If this is you or you are behind on payments...my team and I are trained to help!

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Thursday, October 4, 2012   /   by Jeremy Ganse

Shadow Inventory: Monitor Banks’ Speed, Not Just Volume

"What’s more worrisome than the actual “shadow inventory” is how banks dispose of it—and whether there are enough buyers willing to purchase the homes when they do.  It’s increasingly clear that banks—whether by design or not—aren’t going to foreclose quickly and relist all of these homes for sale. While there were 3.25 million loans that were in the foreclosure process or in default at the end of May, banks owned around 407,000 homes at the end of May, according to estimates from Barclays Capital."
...A look at the number of bank-owned properties from now until 2015

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Tuesday, October 2, 2012   /   by Jeremy Ganse

Local Real Estate Headed for an Active Fall Market

"According to a recent report by LCAR, the 482 homes sold in August is an 18.1% increase from the August 2011 mark of 408.  Every month in 2012 has posted a gain over the same month in 2011 with a 14.4% year-to-date increase."
A quick look at Sales Statistics, Mortgage Rates, and a Year-to-Date Home Sales Report in Lancaster County!  Found here.

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Thursday, September 27, 2012   /   by Jeremy Ganse

5 Reasons It Could Be The Opportunity Of A Lifetime To Buy A House

"Since owning a home is typically cheaper than renting after tax benefits are considered, today’s buyers would come out ahead unless housing prices fall substantially.  In fact, though, prices figure to rise, either because of an economic recovery or because of inflation (or more likely, both).

Read more here.

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