Tuesday, December 15, 2009

Dallastown Area Schools Home Report for September 1 through December 14 2009

Dallastown Area Schools Home Report for September 1 through December 14 2009

This report are for all the homes sold in Dallastown Area School District as of September 1st through today.

Total homes sold was 130.

The lowest price was listed for $58,000 and sold at $48,500 located at 6 E Frederick St, Dallastown, PA 17313

The highest property was listed at $525,000 and sold at $515,000 located at 2773 Chestnut Run Rd, York, PA 17402

Price ranges of homes that sold in the following chart

$40,000 - $75,000 6 homes

$75,001 - $100,000 5 homes

$100,001 - $125,000 10 homes

$125,000 - $150,000 23 homes

$150,001 - $175,000 29 homes

$175,001 - $200,000 18 homes

$200,001 - $250,000 17 homes

$250,001 - $300,000 11 homes

$300,001 - $400,000 10 homes

$400,000 - $515,000 2 homes

The median price range for Dallastown Schools real estate is $168,850 for the period.

Average of days on the market until it went under contract was 62 days

Active Listings

There are currently 265 homes on the market.

Least expensive listng is $89,999 located at 2956 Cape Horn Rd, Red Lion, PA 17356

The most expensive is $1,295,000 located at 2709 Augusta Circle, York, PA 17402

Average days on the market is 127 days or a a little over 4 month supply of inventory.

These statistics are provided by the Multiple Listings Service by the Realtors Association of York and Adams Counties

RAYAC Housing Snapshot

A monthly review of the residential real estate market in

York & Adams Counties

October 2009

October Housing Statistics

The REALTORS Association of York & Adams Counties (RAYAC) reports

that a total of 540 homes were sold in Adams County during the first 10 months

of 2009. In York County 3,343 homes were sold through the end of October.

The median sales price in Adams County was $185,950, a 7% decrease from

last year. In York County the median sale price was $159,900 reflecting a drop of only 3%. Comparing the month of

October 2008 to October 2009 number of homes sold was up 38% in York County and 12% in Adams County.

“The real estate market appears to be improving. We are interested to see the impact of extending the first time
Tuesday, December 15, 2009by The Pilgrim Team

Solving the foreclosure crisis one homeowner at a time.™

Short Sale Deed-in-Lieu of Foreclosure:

Dignified Solutions

©2009 Distressed Property Institute, LLC All Rights Reserved.

The above brokerage assumes no responsibility nor guarantees the accuracy of this information and is not engaged in the practice of law nor gives legal advice.

It is strongly recommended that you seek appropriate professional counsel regarding your rights as a homeowner.

Possible Crisis? There are Dignified Solutions.

The state of the U.S. economy and housing market has brought many homeowners from security to uncertainty. But within this uncertainty, solutions have been created to assist those who need help. If you or someone you know is struggling to pay the mortgage, it is vital to understand ALL the options available.

The pressures of an upside-down mortgage are not just felt by the homeowner. Lenders are looking to avoid foreclosure and work with homeowners to find solutions to their financial situations. Lenders are not in the real estate business, do not wish to take ownership of a home, and do not want a house to sit idle on the market

So what options are available to YOU?

If you or someone you know is facing foreclosure and the damages it will cause to credit scores, employment or security clearance, you should consider a short sale or a deed-in-lieu of foreclosure (or “deed-in-lieu”). These options could allow you to sell or walk away from your home without incurring liability for deficiency.

What Are Your Options…

judgments from creditors, or tax lie

In both a short sale and deed-in-lieu, your lender can claim you owe a deficiency judgment on your remaining balance. This means the lender may have the right to pursue the difference of what you owed and the eventual sale price of the home.

In a foreclosure, all rights to your property are lost, while the lender retains the right to pursue a deficiency judgment. It will also remain on your credit history for ten years or more.

During negotiations for both short sales and deed-in-lieu transactions, it is imperative to understand whether your lender reserves the right to pursue a deficiency.

What Are The Possible Tax Consequences?

When it comes to the tax implications of a short sale or deed-in-lieu transaction, you will need to consult a tax professional. As a general rule, any debt forgiven by the lending institution will be considered income. Lenders are required to file a 1099-A with the IRS showing the deficiency, which could have tax implications for you. Once you have received Form 1099-A, you will need to complete IRS Form 982 to report how much of the debt was forgiven by the lender.

Again, consulting a tax professional is a vital part of this process, and can save you from future financial difficulties. Distressed Property Institute, LLC All Rights Reserved.

What’s Your Fastest Way Out?

A deed-in-lieu is the fastest solution out of a foreclosure, compared to the timeline of a short sale. However, very few lenders will negotiate a deed-in-lieu if a lien, or second mortgage has already been taken out on the home. Also, a deed-in-lieu will be a typicalqu estion asked on any future credit applications. Your history of short sales will not be a concern. In addition, a short sale provides the feeling of accomplishment for Listing York PA Homes your home.

What Should I Look Out For?

If you are considering either a deed-in-lieu or a short sale, it would be wise to review the terms and conditions of your transaction carefully. Make certain your agent can explain whether or not a deficiency balance is forgiven, or how long the lender can pursue this judgment.

Both options can save you from the distress that foreclosure will cause on your credit, finances, future employment and, most importantly, your stability.

I Heard About “Deed-For-Lease” ... What’s That?

You might have read about a new program called Deed-for-Lease™. Fannie Mae created this program as an option for homeowners who are in distress but not eligible for a mortgage modification. Through this program, qualifying homeowners have the option to remain in their Homes for sale in york pa as renters after voluntarily transferring the property deed back to the lender. The homeowners must prove they are able to afford market rent, and then sign a lease with the lender.

Deed-for-Lease provides an additional option for borrowers who do not qualify for, or have not been able to sustain other loan-workout solutions. While this program is unique to Fannie Mae loans, be sure to discover what options your lender offers to homeowners who do not qualify for loan modifications but wish to stay in their Homes for sale in york pa.

Following are a few of the homeowner qualifications for this program:

*The property is to be used as the occupant’s primary residence

*The occupant’s income is sufficient to cover rental payments

*Inspection shows that the property has been kept in good condition

*The occupant agrees to be responsible for regular maintenance

*The number of occupants is appropriate for the home

*The occupants signing the lease must agree to a credit review

*To learn more, please contact me or visit www.efanniemae.com.

With more than 1 in 7 U.S. homeowners not paying the mortgage, it’s clear that no one is immune to the current economic situation.

I believe every homeowner deserves the best information and education to protect themselves from losing their home to foreclosure and ruining their credit. For those already struggling to pay their mortgages and unsure of what to do next, understanding short sales and deeds-in-lieu can ease their stress and potentially save them from an impending foreclosure. Deciding on which route will be best for you and your family’s future is the most important decision you can make. Please use this information to better understand the options available.

As a CDPE, I have been trained to assist homeowners in these difficult situations. If I can provide you with more information or assistance, please don’t hesitate to contact me or go to my web page here.

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