Real Estate Market Trends - The Pilgrim Team

New, Existing-Homes Sales On Rise

The National Association of Realtors® (NAR) reported a 7.6 percent increase in existing-home sales for the month of August, to a seasonally adjusted rate of 4.13 million units anticipated in 2010. The increase was higher than many experts predicted, as real estate markets showed strong activity even without the home buyer tax credit. Regionally, the West showed the biggest increase in existing-home sales, with a jump of 13.8 percent. The Northeast followed with an increase of 7.9 percent, while the South and Midwest grew sales by 5.2 and 5.0 percent respectively.

NAR chief economist Lawrence Yun remains cautiously optimistic. "The housing market is trying to recover on its own power without the home buyer tax credit," he said. "Home values have shown stabilizing trends over the past year, even as the economy shed millions of jobs, because of the home buyer tax credit stimulus. Now that the economy is adding some jobs, the housing market needs to steadily improve and eventually stand on its own."

Freddie Mac reported that the average commitment rate for a 30-year fixed-rate mortgage dropped to 4.43 percent in August, a record low. The rate was 5.19 percent during this time last year. Total housing inventory fell slightly to 3.98 million units, representing an 11.6 month supply.

First time buyers accounted for 31 percent of the homes purchased during August. Investors also had a strong showing, accounting for 21 percent of the market, up from 19 percent the month before. Repeat buyers acounted for the remaining 48 percent of August home purchases.

Find the Right Coverage

When purchasing a home, you will need to acquire homeowners insurance. In fact, all lenders will require a policy be in force prior to funding the loan. Make sure you have enough coverage, should anything happen. Policies refer to "replacement costs" that may not cover everything. You should ask your insurance agent a lot of "what if" questions. The deductible amount also plays a big part in setting your premium. Higher deductibles lower the number of claims, and reduce your insurance costs.

Check with your insurance agent for more information on these issues, and any others. If you don't have an insurance agent, we have access to several top-notch agents we can refer you to with confidence.

Seller Opportunities

Selling your home in today's market requires strategy and execution. Here are three tips to help sellers reduce their time on market:

•Make it shine. Buyers are attracted to attractive homes. Make your home stand out by mowing the lawn, raking the leaves, washing windows, and cleaning the carpets. These are small things that will make a big difference.

•Remove clutter. Not only do clean homes show better, but tidy homes offer more to the imagination. One person's treasure is another person's trash. Removing unnecessary clutter will help potential buyers envision their own potential or the home.

•Pay attention to the market. Work with your agent and price your home to sell. A competitively priced home is the one that sells first, and in this market that counts for a lot.

These simple tips can help you sell your home and take advantage of our today's market. Please contact us if you have any questions about selling your home. We are here to help!

York PA July 2009 and July 2010 Real Estate Comparison Report

Home Sales Comparisons for July 2009 and July 2010 in York County PA



July 2009

Homes sold = 407, Total new listings = 859, average list price sold was $189,141 and sold price was $183,511, Average unsold median price was $228,398.

July 2010

Homes sold = 271, Total new listings = 741, average list price sold was $176,203 and sold price was $170,014, Average unsold median price was $370,201. The amount of time it will take the market to absorb the current inventory (3,220) would be 11.88 months.

As you can see that there was a -33% decrease in sales from a year ago. With a total inventory of 3,220 currently unsold homes, properties must be positioned at the correct price or the market (buyers) will reject the over priced properties. Most surprising is the huge jump in the unsold median price of homes ($370,201) which is a indication that the upper price brackets are not selling and continue to build in the inventory of homes. This is an alarming trend that must be reversed sooner rather than later.

With the current interest rates hovering in the low 4's NOW is the time to buy a home at low prices and with potentially low principle and interest payments. I believe the current economic uncertainty must be cleared up and property taxes always on the rise are putting a damper effect on higher end homes. Something must be done in Harrisburg soon or we face a worsening crisis with high end homes.

Foreclosure Market Trends

UsForeclosure Market Trends Foreclosure Market Trends

Monday, January 25, 2010by The Pilgrim Team

Phone: 717-757-5955x101
Email: jpilgrim@pilgrimteam.com
Jerry Pilgrim

Professional Realty Associates
3921 E Market St
TYork, PA 17402

I am a Certified Distressed Property Expert and I pride myself as the local expert on buying or Listing York PA Homes distressed Homes for sale in york pa in York County. Contact me for a confidential meeting to assist you.

January 2010

Vol. 4, Issue 3
6 month National Foreclosure Trends

NOD NTS NFS LIS REO

REALTYTRAC® YEAR-END REPORT SHOWS RECORD 2.8 MILLION

U.S. PROPERTIES WITH FORECLOSURE FILINGS IN 2009

A total of 2,824,674 U.S. properties in received a foreclosure filing in 2009, a 21 percent increase in total properties from 2008 and a 120 percent increase in total properties from 2007, according to the RealtyTrac Year- End 2009 U.S. Foreclosure Market Report. The report also shows that 2.21 percent of all U.S. housing units (one in 45) received at least one foreclosure filing during the year, up from 1.84 percent in 2008, 1.03 percent in 2007 and0.58 percent in 2006. Foreclosure filings were reported on 349,519 U.S. properties in December and foreclosureactivity in the fourth quarter decreased 7 percent from the third quarter.

The latest idea bubbling up in the world of real estate is the use of principal reductions to stem the foreclosure tide, the theory being that if we lower mortgage balances then homeowners will have smaller monthly payments and fewer foreclosures. Truth is, the only reason lenders will reduce principal balances is when it's to their advantage. Reducing principal balances will instantly produce big and hideous losses, something Lenders don't want but something lenders will accept if the probability of even bigger and more hideous losses from short sales and foreclosures can be avoided.

Will Principal Cuts Reduce Foreclosures?

Here are some of the most recent Investment opportunities in the area.

Property Type Address Market Value Default Sq. Ft.

Bank-Owned

Airville, PA 17302

Delta Rd,$15,000 N/A 1,381

Auction Date: 2/8/10

Auction Dillsburg, PA 17019 Old Mill Rd,$78,140 N/A 2,127 Pine St Dillsburg PA, 17019 Market Value $126,040 Beds/Bath 3/1

Default Amount $N/A

Sq. FT 1,632

Pre-Foreclosure

FORECLOSURE TRENDS :


NOVEMBER 2009

NODs 88,790 0 0 NTSs160,660 0 0 FSs65,922 3,202 94
LISs 132,813 3,640 244
REOs 152,008 2,724 112

Faster Sales Coming For Foreclosure Buyers

Foreclosure buyers got a Christmas Eve goodie from Fannie Mae, a new strategy that's likely to make foreclosure purchasing very much quicker. The catch? A bunch of lenders are about to be very unhappy. With the growing number of distressed properties there's now a substantial “foreclosure discount” in most markets. What were once tolerable and controlled losses are today steep and sharp declines that leave lender red ink everywhere. The question for loan owners is this: Is there anyway to make such lender losses smaller? The answer, as we shall see, turns out to be good news for foreclosure buyers.

For More information on available foreclosures or short sales go to: www.StopyorkForeclosures.com

York County PA Housing Statistics for year of 2009

RAYAC Housing Snapshot

A year-end review of the residential real estate market in York & Adams Counties

December 2009

2009 Housing Statistics

The REALTORS Association of York & Adams Counties (RAYAC) reports that a total of 647 homes were sold in Adams County in 2009, a decrease of 7%. In York County 4,046 homes were sold in 2009, a 4% increase from 2008. The median sales price in Adams County was $185,000, a 7% decrease from last year. In York County the median sale price was $159,900 reflecting a drop of only 3%. “Starting in June, each month we have continued to see positive increases in the number of homes sold in both York & Adams Counties,”by 2010 RAYAC President.

RAYAC MLS Statistics by School District

2008-2009 (January1-December 31) Comparison School District 2009

Median Sale Price 2008 Median Sale Price % Change 2009 Number Sold 2008 Number Sold % Change

Adams County

Bermudian Springs $169,450 $199,900 -15% 86 85 1%

Conewago Valley $169,700 $184,200 -8% 172 188 -9%

Fairfield $213,450 $235,000 -9% 60 65 -8%

Gettysburg $220,000 $214,950 2% 163 152 7%

Littlestown $182,000 $188,000 -3% 116 131 -11%

Upper Adams $178,325 $175,500 2% 50 71 -30%

Total Adams County

$185,000 $198,451 -7% 647 692 -7%
York County

Central $163,000 $185,000 -12% 439 401 9%

Dallastown $172,900 $190,000 -9% 456 403 13%

Dover $147,900 $164,000 -10% 242 265 -9%

Eastern $140,700 $148,750 -5% 142 130 9%

Hanover $147,000 $148,000 -1% 130 153 -15%

Northeastern $158,000 $169,900 -7% 285 255 12%

Northern $205,000 $188,000 9% 99 84 18%

Red Lion $164,900 $170,000 -3% 352 303 16%

South Eastern $210,000 $213,750 -2% 43 136 -68%

South Western $180,000 $195,000 -8% 238 246 -3%

Southern $214,500 $229,000 -6% 176 128 38%

Spring Grove $176,000 $174,950 1% 241 212 14%

West Shore $178,500 $168,900 6% 144 157 -8%

West York $144,400 $147,000 -2% 273 271 1%

York City $68,700 $68,000 1% 384 467 -18%

York Suburban $156,505 $160,000 -2% 302 275 10%

Total York County

$159,900 $164,900 -3% 4046 3886 4%

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

Haines Acres Home Sales Statistics

Below are the current Homes for sale in york pa that have either been sold, pending or are currently active in the Haines Acres Neighborhod. The date range begins May 1st thru November 19, 2009. The statistics have gome from the Realtors Assocaiation of York and Adams Counties.
LIST PRICE:


SOLD PRICE:

DOM:

HIGH LOW AVERAGE MEDIAN TOTAL PRICE LISTING COUNT

$389,900 $55,000 $200,873 $176,250 $7,030,562

$285,000 $147,500 $202,845 $188,450 $4,056,900 35

336 1 82 40

Appraiser Spreadsheet

MLS # StatusType Schl Dist Address City BRFBHBTtl Fin SF Tot Acre L/P S/P ClsPdBySlrDOM

20906351 PND DET York Suburban 730 Edgewood Rd York 2 0 0 735 0.260000 $55,000 156

20907560 SOLD DET York Suburban 1021 Sundale Dr York 3 1 1 1449 0.231400 $157,900 $147,500 35

20908696 SOLD DET York Suburban 2465 Cambridge Road York 3 1 0 1962 0.206600 $149,900 $148,000 3000.00 61

20904832 SOLD DET York Suburban 212 Greystone Road York 3 1 0 1260 0.143500 $152,400 $149,500 0.00 55

20902035 SOLD DET York Suburban 901 HAINES ROAD YORK 4 2 0 2174 0.354100 $159,900 $154,900 3199.91 145

20814023 SOLD DET York Suburban 2479 Auburn Road York 3 1 0 1513 0.330600 $159,000 $157,000 5000.00 201

20905227 SOLD DET York Suburban 2478 Crystal Lane York 3 1 1 1391 0.198300 $163,000 $158,000 108

20909307 SOLD DET York Suburban 2570 Raleigh Drive York 3 1 1 1992 0.212000 $157,900 $160,000 6100.00 23

20910223 PND DET York Suburban 501 Erlen Drive York 3 2 0 1952 0.234200 $162,500 37

20911516 PND DET York Suburban 2545 AUBURN ROAD YORK 3 1 0 1618 0.220000 $162,900 4

20903782 SOLD DET York Suburban 2456 Bradford Drive York 3 2 0 1716 0.206600 $165,000 $165,000 7500.00 5

20812788 PND DET York Suburban 2512 Brighton Drive York 4 2 0 2548 0.248000 $165,512 297

20911688 ACT DET York Suburban 2661 Cambridge Rd York 4 2 0 1302 0.213500 $169,900 30

20910627 PND DET York Suburban 970 Sundale Drive York 3 1 1 1391 0.247900 $169,900 15

20912395 ACT DET York Suburban 2800 Eastwood Drive York 4 2 0 1911 0.247700 $174,900 10

20911884 ACT DET York Suburban 2456 Wharton Road York 3 1 1 1580 0.214600 $174,900 24

20910982 PND DET York Suburban 2457 Eastwood Dr York 3 1 1 1963 0.217200 $174,900 32

20911698 ACT DET York Suburban 550 Sundale Drive York 3 2 0 1674 0.239700 $176,250 30

20911404 PND DET York Suburban 480 Ardmore Lane York 4 2 1 2332 0.300000 $179,900 8

20906140 ACT DET York Suburban 2464 Schoolhouse Lane York 3 1 1 1957 0.212100 $179,900 177

20906101 SOLD DET York Suburban 770 Erlen Drive York 3 1 1 2323 0.234200 $187,900 $184,000 336

20906433 SOLD DET York Suburban 3230 Dorsett Lane York 3 2 0 1644 0.300000 $184,900 $184,900 23

20909421 SOLD DET York Suburban 491 Maywood Road York 4 1 1 1726 0.288500 $214,900 $192,000 14

20911514 ACT DET York Suburban 2541 Raleigh Dr York 3 2 0 1444 0.200000 $199,500 40

20907546 SOLD DET York Suburban 445 Ivory Road York 3 2 1 1659 0.260000 $214,900 $214,900 21

20903393 SOLD DET York Suburban 2965 FORREST LANE YORK 4 2 1 2647 0.270000 $249,900 $235,000 0.00 57

20903952 SOLD DET York Suburban 2870 Forrest Lane York 3 2 0 2677 0.276100 $249,900 $249,000 1

20814040 SOLD DET York Suburban 2 Hunting Park Court York 3 2 1 2609 0.650500 $249,900 $249,900 7497.00 177

20902130 SOLD DET York Suburban 510 Ardmore Lane York 4 2 1 2674 0.266400 $277,900 $250,000 173

20908262 SOLD DET York Suburban 730 Plymouth Rd. York 4 2 1 2721 0.266900 $259,900 $252,500 51

20909067 SOLD DET York Suburban 520 Ardmore Lane York 4 3 1 2780 0.267000 $259,900 $259,900 5000.00 15

20903877 SOLD DET York Suburban 830 PINEHURST ROAD YORK 5 2 2 3368 0.378700 $259,900 $259,900 10000.00 114

20900679 SOLD DET York Suburban 990 Melrose Lane York 3 2 0 2254 0.315000 $299,900 $285,000 116

20905950 ACT DET York Suburban 3220 Forrest Lane York 5 2 1 2875 0.264500 $319,900 175

20908669 ACT DET York Suburban 3280 Forrest Lane York 4 3 1 4313 0.676000 $389,900 108

Disclaimer

This information is deemed reliable, but not guaranteed

York County PA Home Market Statistics

York PA Housing Statistics

Single Family Homes:

Jan-May 08' SOLD Units - 938 represents a 14% decrease over the same time period in '08. It also represents a 33% decrease over '07.

Time on Market for sold homes in '09 for same time period was 85 days.

Homes that are currently Active (unsold) have been on the markey 120 days.

The Median home price dropped form a high in '07 of $221,013 to $211,335 in '08 to $188,588 a 33% decline.

What these statistics mean for Buyers is obvious. If you have the means to buy a home NOW is the time. The low interest rates couples with the more affordable home prices in York County PA. The $8,000 dollar tax rebate will run out Dec 1st of this year.

For Home Sellers the home must be priced to the market or it will become another unsold statistic. You will need to choose a Realtor with an A+ marketing program that will give your home maximum exposure to potential home buyers. List your home with Jerry Pilgirm and you will get just that.