York Real Estate Market Favors Buyers, Offers Great Deals
by Kaitlin Kraft
Although 2007 may have been a bumpy road for many markets and real estate agents, the Pilgrim Team of the Professional Realty Associates has had a different experience. With so many hyped-up stories about the lending crisis and the supposed downfall of the real estate market, how does Jerry Pilgrim, broker/owner, remain positive?
“We expect to have a great year in 2008. The PilgrimTeam actually had a positive increase in volume this year, which we’re very pleased about. We expect that trend to continue in the upcoming year, even though volume maybe down with the competition,” says Pilgrim.
Pilgrim continues that not only did his team fare better in 2007 than the competition, but that the York housing market has also been holding stable. “There hasn’t beena drastic price reduction here as there has been in other parts of the country, or even other parts of Pennsylvania. We have experienced only a slight drop, approximately 5 percent, compared to the 30 – 40 percent decrease some other area markets are feeling,” he says.
Pilgrim emphasizes the importance of knowing whento snatch up a good deal, and right now the market is ripe with good deals. “In the current market, buyers are like kids in a candy store—there are a lot of houses to choose from and the options are endless. Interest rates are low again, so that gives buyers opportunities that they haven’t experienced in the past few years,” he says.
“There are a lot of good buys out there, but don’t wait because that may change in the new year.
”Buyers need not be worried about slightly dipping home values either, according to Pilgrim. “Traditionally, home values always go up. The market may have peaks and valleys, but don’t be hesitant to buy. Even if the market drops slightly, history has proven that home values will always trend up,” he explains.
And now, sellers are working harder than ever to attract serious buyers, says Pilgrim. “A year and a half ago, you couldn’t find today’s properties for the current price, location and amenities that are being offered,” he explains. “Savvy sellers are reducing their prices, offering to pay closing costs and making sure their houses are in excellent, move-in-ready condition for buyers.”
Pilgrim adds that with all these buyer perks, 2008 should prove to be the best year yet for motivated buyers.“We pride ourselves in customer service and do everything we can to help buyers find their perfect home,”he says. He and everyone on the Pilgrim Team are always ready to negotiate a lower price for you and have proven their dedication to their clients year after year.