Startegic Foreclosures Good or Bad?

Recently there has been some talk about "strategic foreclosures". Unfortunately there have been some individuals promoting to people who are in financial distress and don't know where to turn when they have fallen behind in their mortgage payments. They have taken the stand that it is O.K. to just walk away and never look behind them for the consequences that come with such a move.

Just last week Good Morning America had a special about walking away from your commitment. The analogy they used was that if it is good enough for corporate America to do so, it is O.K. for the average homeowner too. It was totally irresponsible reporting and they should be taken to task to promote such a terrible injustice to the public. They did not mention what consequences there are to individuals who actually must work and maintain households, credit ratings and personal reputations if they allow a foreclosure to happen. Obviously they did not realize or even care that with that type of reporting people could be jeopardizing their financial futures including holding on to the job they currently have or a job in the future. Corporations don't have to think about those things as it not part of the business world. So yes, corporations do that sometimes but with different consequences.

Please don't consider a Strategic Foreclosure as you might not be happy what you may end up with. Call me today for a confidential interview and we can set the record straight and get you on the right financial path.

York PA 2012 Real Estate Forecast

Looks like things are starting to stabilize here in York County after nearly four years of depreciation in the housing market locally. Looks like on average a 12% drop in prices have hit is this year. The silver lining in this cloud isthat prices have come down enough the the locally employed population can now afford to buy a home, especially with interest rates as low as 4%. For years as people from Maryland migrated here along with the higher wages they earned in Maryland they continued to push up the prices of homes. That trend has all but come to a halt. Maryland buyers use to make up nearly 80% of purchasers back in the pre-bubble days. It appears they are now around 12%.


Now is the time as a buyer to have a broad choice of homes to choose from at very reasonable prices and low mortgage payments. Lenders are loaning out money with as little as no money down with a USDA mortgage, or 3.5% total down paymentfor a FHA mortgage with help coming form the home seller in the form of a cash contribution. There are plenty of programs out there to choose from.

I expect 2012 to provide us with home price stabilization and even possible a slight tick up on prices. If you have been on the fence about buying a home now is the time to jump into the market.

Call the Pilgrim Team of Professional Realty Associates will we will help you to either buy or sell a home in a stress free way.

Visit our Exciting New Community of Ashcombe Farms South

The Pilgrim Team of Professional Realty Associates and Lancaster Home Builders are proud to announce the opening of their newest community known as Ashcombe Farms South. Prices begin in the $170's. It is centrally located near shopping, parks, restuarants and schools. 17 floor plans are available and the builder will customize each plan to accomadate your individual needs. It is a small community consisting of 14 home sites with an average size of just under one-half acre. All utilities are underground as in the other Dover communities that we have built.

This is the fifth community The Pilgrim Team and Jerry Pilgrim has been involved in the area over the last 10 years. The other communities we have now completed were Cranbrook Acres, Ashcombe Farms, Ashcombe Farms West in Dover. Shiloh Farms is located in West Manchester Twp. We also have another community that has been quite successful in Dover Township called Fox Run Creek Estates where prices begin in the $160,s. Stop by our model homes located in Fox Run Creek Estates located off Cardinal Lane on Fountainhead Drive. We do have have a Sunday open house form 1-3pm. If you would like a private showing call or email us and we will be happy to accommodate you.

Make Your Home Search Easy and FAST!!

Have you met a house you liked?

That may sound funny to you. But the longer I'm in the business, the more I find that homes have personalities. To really get to know a home, you need some background. You need a proper introduction to the area, the neighborhood, the features, the amenities, and even some of the challenges.


As you use the Internet to tour unlimited geography, you may need help on a local level. To that end, I can help! Im a professional introducer. Ive seen and know hundreds of homes, so as we clarify what you prefer, its easier to find a match. When you see the right home, there will be a reaction. Youll know the right home when you see it, right?

In the meantime, if there are homes on the market in York Pa and the surrounding area's that you would like to meet, Id love to arrange an introduction. Just give me a call.

Jerry Pilgrim team leader of the Pilgrim Team and Broker of Professional Realty Associates

What is a Realtor Worth?

In today’s market what you need to be the most concerned about is what level of marketing you can expect from a Realtor. Secondly the Realtor must have the ability to negotiate not just with the buyers on your property to get the highest price for you, but also there is a high incidence of properties not appraising for the sales price on the contracts. When that happens I then must negotiate with the appraiser to prove to them that the value they came up with is incorrect and that they must change the appraisal. I have made and saved my home sellers thousands of dollars due to my experience and knowledge of the market. Please don’t get caught up on a difference of 1% broker fee when actually a fulltime agent such as me can save you thousands of dollars particularly in today’s market. If you want a fulltime professionals real estate agent in York, PA call me Jerry Pilgrim of the Pilgrim Team of Professional Realty Associates.

How to Buy a Short Sale Home the RIGHT WAY!

So you want to buy a house and have noticed that the best deals in York PA are typically short sales. Buy you've talked to people and they have told you not to buy one because they have heard stories about how someone they new wanted to buy a short sale and they waited for months and they never did buy it.


There are a few reasons for short sale not to be approved by the Lenders.

1. The Realtor who has the listing has NO knowledge of the process and shouldn't have taken it to begin with. Not only did the house did not sell to the buyer but they also may have jeopardized the homeowners chance to keep the house from foreclosure.

2. The Realtor listed the house at a very low price to get an offer from a buyer, knowing full well the offer would most likely be countered back at a much higher price which the buyer will not accept or can't accept because they cannot be approved by their lender to get a mortgage for the property at the higher price. Now the Realtor who listed the property thinks they have an approved price (but they really don't) and re-lists the house at that price and they change the price and now claims it is approved. Wrong! Once another offer comes in the offer must be approved again even if it is the "approved" asking price.

3. The Realtor does not know what the Lenders want during the negotiating process and cannot present a complete short sale package. What happens is the negotiator may totally reject the offer.

4. The Realtor may continue to take back up offers and forward them to the bank. Just in case the 1st offer falls through. This confuses the Lenders negotiator and they stop processing the offer.

5. The offer may contain many contingencies that the Lender does not want to see. There should not be any contingencies to make it a strong offer.

6. Believe it or not some real estate agents will take a listing as a short sale and not even know whether it can even be approved as a short sale based on necessary criteria. So what happens when an offer is submitted to the Lender and it will not even be considered because the seller has the ability to make the payments and nothing has changed that would keep that seller from not making that mortgage payments. The Seller just wants to sell because the house has lost equity, this is not a reason for the short sale to be approved.

Bottom line make sure if you want to buy a short sale use an experienced agent who has successfully negotiated sold short sales and helped buyers buy short sales. The Pilgrim Team is specially trained to help both Sellers and Buyers achieve their home goals. Call Jerry Pilgrim at Professional Realty Associates at 717-757-5955. You will be glad you did!

Bring your horses and a Contractor!

4 acres in the country! Located in Red Lion School District. 3 stall barn and over 2 acres fenced pasture. Bring your horses! Priced at only $225,000, this property has unlimited potential and is a perfect location for the Maryland commuter. Could go FHA 203K so you can bring this home back to like new condition.

203K Loan - Rehab Program Overview


The Federal Housing Administration (FHA), which is part of the Department of Housing and Urban Development (HUD), administers various single family mortgage insurance programs. These programs operate through FHA-approved lending institutions which submit applications to have the property appraised and have the buyer's credit approved. These lenders fund the mortgage loans which the Department insures. HUD does not make direct loans to help people buy homes.

The FHA 203k loan program is the Department's primary program for the rehabilitation and repair of single family properties. Basically a home improvement loan. As such, it is an important tool for community and neighborhood revitalization and for expanding homeownership opportunities. Since these are the primary goals of HUD, the Department believes that FHA 203k loan is an important program and they intend to continue to strongly support the program and the lenders that participate in it.



Lenders have successfully used the FHA 203k loan program in partnership with state and local housing agencies and nonprofit organizations to rehabilitate properties. These lenders, along with state and local government agencies, have found ways to combine the FHA 203k loan with other financial resources, such as HUD's HOME, HOPE, and Community Development Block Grant Programs, to assist borrowers. Several state housing finance agencies have designed programs, specifically for use with FHA 203k loan and some lenders have also used the expertise of local housing agencies and nonprofit organizations to help manage the rehabilitation processing.



HUD also believes that the FHA 203k loan program is an excellent means for lenders to demonstrate their commitment to lending in lower income communities and to help meet their responsibilities under the Community Reinvestment Act (CRA). HUD is committed to increasing homeownership opportunities for families in these communities and Section 203(k) is an excellent product for use with CRA-type lending programs.





FHA 203K Loan - How the Program Can Be Used:



This program can be used to accomplish rehabilitation and/or improvement of an existing one-to-four unit dwelling in one of three ways:

• To purchase a dwelling and the land on which the dwelling is located and rehabilitate it.

• To purchase a dwelling on another site, move it onto a new foundation on the mortgaged property and rehabilitate it.

• To refinance existing indebtedness and rehabilitate a dwelling;

To purchase a dwelling and the land on which the dwelling is located and rehabilitate it, and to refinance existing indebtedness and rehabilitate such a dwelling, the mortgage must be a first lien on the property and the loan proceeds (other than rehabilitation funds) must be available before the rehabilitation begins.



To purchase a dwelling on another site, move it onto a new foundation and rehabilitate it, the mortgage must be a first lien on the property; however, loan proceeds for the moving of the house cannot be made available until the unit is attached to the new foundation.

2505 Tara Lane, York, PA 17404

PRICED TO SELL!

This home was just relisted today and won’t last long at this price. No longer a short-sale, buy this home outright for $26,605.00 less than it was offered just a month ago. This home was on the market just last month for $196,505.00 as a short-sale and is now being offered for $169,900. Now you can buy it with less risk and in less time (with cash or proper financing, in most cases you could settle and be in this home in less than 30 days). Let me show you how!

This two story colonial in Stillmeadow Farms was built in 1993 and offers 4 bedrooms and two and a half baths. Situated on a corner lot with .2859 acre, this home has 2000 sq.ft. of finished area on the first and second floors with another 680 sq.ft. of unfinished area in the basement. Features include things such as Natural Gas Heating, Central A/C, Two Car Garage, Refrigerator, Oven/Range, Built-in Dishwasher, and Built-in Microwave Oven.

Do you commute out of York a lot? You can be on I-83 or US Rt30 in less than two minutes from this home. Shopping is only minutes away as well. Close to tons of stores and restaurants, you’ll save on gasoline costs for sure.

To schedule a private showing and see this home for yourself or for more information on this or any other homes for sale in York, PA, call Dennis Harbold. Dennis is a Buyer Specialist with The Pilgrim Team at Professional Realty Associates. You can reach Dennis on his cell phone any day or evening by calling 717-887-3302 or by emailing him at dharbold@pilgrimteam.com.
This information is deemed reliable, but not guaranteed
Listing courtesy of Morgan-Collins, Inc

2320 Addison Ct York Pa 17404

New to the market in Manchester Meadows. This 4 bedroom 3.5 bath with over 3500 square feet of living space is competitively priced at 289,900. There is a 3 car garage and open space throughout the community. Located in Central York Schools and convenient to many popular York County shopping destinations and restaurants. Mike Rudacille with The Pilgrim Team can set up a private tour of this home at your convenience. There are many homes for sale in York PA but this one is special.

Most homes for sale, or sold in Central York Schools have held their value more than other areas in York County Pennsylvania. The Pilgrim Team can help you buying or selling a home in York PA. Contact Mike Rudacille at 757-5955 or 318-0991 for further information.

Listing provided courtesy of: Century 21 Heritage Realty

Fayfield

341 S KERSHAW ST

Hidden between 7th and 9th St in the middle of the 300 block of Kershaw you will find this gem of a home. This neighborhood located on the west side of Haines Rd straight across from Haines Acres is know as Fayfield. If you like the Fayfield area and are looking for a deal on a spacious home there, look no further, this is it. Don't let the look fool you, this solid brick Cape Cod style home offers over 3600sq.ft. of finished living space. Inside you'll find 3 bedrooms and 3 full bathrooms. You'll also be amazed when you see the two-story family home theater room. Outside around the back of the home on this almost 1/4 acre lot you'll see the in-ground swimming pool. In the front attached to the home you have a two-car garage. The home is heated with natural gas forced hot air in the winter and cooled with central A/C in the summer and is close to plenty of shopping venues and restaurants. It is located in The York Suburban School District and The East York Elementary School area.

This home can be purchased for as little as 3% down through Fannie Mae's HomePath Mortgage Financing. For details on this type of financing and/or to schedule a private showing for this or any other home currently for sale in York, PA, call Dennis Harbold. Dennis is a Buyer Specialist with The Pilgrim Team at Professional Realty Associates. You can reach Dennis on his cell phone any day or evening by calling 717-887-3302 or by emailing him at dharbold@pilgrimteam.com.
This information is deemed reliable, but not guaranteed
Listing courtesy of EXIT Platinum Plus Realty

3185 Balsa Street York PA 17404

This home in the Central York School District has just been lowered

10,000 dollars down to 249,900

The home features 4 bedrooms with 2 full baths and 2 half baths and over 2000 square feet. The home sits on almost a half acre lot and there is a private rear yard with a maintenance free deck and a POOL!

For more information contact Mike Rudacille with The Pilgrim Team at Professional Realty Associates 717-757-5955 or MRudacille@PilgrimTeam.com

Listing courtesy of: Country Home Real Estate

Penn Oaks South

3732 CAYUGA LANE

This well-built brick colonial on a level mature .37 acre wooded lot in Penn Oaks South located on the east end of York, PA is just waiting for someone to come along and call it home. It's living space on the first and second floors total 2800 sq.ft. with another 1400 sq.ft. unfinished area in the basement. The four bedrooms are all very nicely sized and the two and one-half bathrooms keep everyone moving in the mornings. The huge 19 x 23 ft master bedroom hosts a sitting area, walk-in closet, vanity area with sink, full bath with shower and a second sink. The family room has gorgeous wood floors, built-in book shelves and a wood-burning fireplace. The eat-in kitchen opens to a sunroom with windows and screens. Parking is no problem with the attached, side loading, oversized two-car garage with garage door openers. Included with this home is a one year home warranty, refrigerator, oven/range, built-in dishwasher, built-in microwave, garbage disposal, washer and dryer. The neighborhood is home to Penn Oaks Park located off of Kingston Road South. This 16 acre park includes such amenities as a picnic shelter, a basketball court, 1 athletic field (baseball & soccer) and a playground area.

To schedule a private showing and see this home for yourself or for more information on this or any other homes for sale in York, PA, call Dennis Harbold. Dennis is a Buyer Specialist with The Pilgrim Team at Professional Realty Associates. You can reach Dennis on his cell phone any day or evening by calling 717-887-3302 or by emailing him at dharbold@pilgrimteam.com.

This information is deemed reliable, but not guaranteed

Listing courtesy of Morgan-Collins, Inc

1664 Guildford Lane York PA 17404

This bank owned home in Brittany II located in Central York Schools has just been lowered 30,000 down to 264,900
The home has 4 bedrooms 2.5 baths sits on over a half acre lot and is almost 3000 square feet. The home is in good condition for being a bank owned home.
If you would like more information just contact me at mrudacille@pilgrimteam.com
use the subject line "Guildford"






Listing provided courtesy of: Coldewll Banker Select Professionals

618 S Maurice St. York PA 17404

This home in Central York School District just sold.
Penn State Estates is the neighborhood where it is located.
The home was originally listed at 215,000 on July 15, 2010
The price was lowered to 209,000 on 8/13/10 and then again down to 204,000 on 9/2/10
The home went under contract on 9/14/10 and settled on 12/14/10
It was sold for 194,750
The Cape Cod style home has 3 bedrooms and 2 full bathrooms and just under 1700 square feet. The lot is .28 of an acre.
Location is convenient with easy access to Route 30 and Interstate 83

2120 Phillip Court in Aslan Heights

This home sold on November 10, 2010
It sold for 284,900 but the seller did pay 14,245 towards the buyers closing costs making it a "net" sale of 270,655
The home has 4 bedrooms, 2.5 bathrooms and is 2700 square feet. The lot is .28 of an acre.
Some of the many features of this home are 9 foot ceilings, stainless steel appliances, and wood floors.

Fox Run Creek Estates in Dover PA

New Construction homes in Dover Township York County Pennsylvania.
We are offering over 15 different floor plans and many lots to choose from.
Prices start at 169,900. Most homes are three bedrooms and 2.5 baths.
Enjoy the mountain views from the quiet neighborhood. Close to shopping, schools, and parks. Many different options and upgrades are available. We have a couple homes already built to view or purchase now. These homes are located in the Dover Area School District. Weigelstown Elementary is the elementary school for this area.
Giant and Weis are the closest grocery stores. Wal-Mart, Target, and Kohls are some of the stores within a 10 minute drive. For more information contact The Pilgrim Team 717-757-5955

Cheltenham a Desirable Place to Call Home

This article should provide you some helpful information on the community called "Cheltenham". It is located in the northern part of the Central York School District (which is known for its lowest tax base in York County) also it is in Manchester Township.


The best way to get there is by driving I-83 to west on route 30 to right on Roosevelt Ave, and bear right on Greenbriar Rd, go approximately 2.5 mile past Cousler park and it located just past The Outdoor Country Club and across from Brittany II.

This are is one on the more desirable area's in the county due to the excellent schools, recreation and parks nearby. One of the main attractions would be the Outdoor Country Country Club with a membership of over 500 and is still seeking new members designed in 1959 by Ed Ault and it is a par 72 and 7000 foot course.

Cheltenham is surrounded by high end homes and the communities would include Brittany, Brittany II, The Outdoor Country Club, Country Club West and Hepplewhite Estates. It is not a large community consisting of approximately 107 home sites. The home sizes average from about 24 sq. ft. to over 3800 sq. ft. Lot sizes average about 1/3 acre. All Utilities are underground and include public water, sewer, natural gas and CATV.

As of this writing there are a few lots remaining that could be built on. If you would like information on those lots and what Builder would be available to build your custom home, please don't hesitate to call us here at The Pilgrim Team at Professional Realty Associates as we have the experience to make your build an enjoyable one. If you are looking for an existing home prices range form $234,000 to $299,900. If you would want us to provide further information contact us and we will be more than be of service to you.

The Pilgrim Team Introduces Fox Run Creek Estates

The Pilgrim Team of Professional Realty Associates is proud to announce Lancaster Home Builders Newest Community located in Dover Towship in York County PA. Lancaster Home Builders is offering 13 home floor plans priced from the Mid $150's. House designns include Rancher, Two Story, Cape Cod. The Builder will work with the home buyer in some floor plan modifications so that the homeowner can modify a particular design to fit their individual needs and requirements. The Sales Representative is Jerry Pilgrim Broker of Professional Realty Associates located in York, PA.




Open houses will begin in early November on weekends, but appointments can be arraigned to meet with a representative to tour different floor plans throughout the week. Bring your own house design and we will be glad to work with you.



Fox Run Creek Estates is located in an area of York County wit gently rolling hills with scenic vistas of the Skytop area north of Dover, PA. Parks including Pinchot State Park, Ski Roundtop are nearby. For more information visit us at: Fox Run Creek

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.

Mortgage Financing Programs

I am going to cover different loan programs that are being offered as of now over the next few days. With new RESPA rules loan programs have been changing along with how they are offered.

I first will discuss FHA loans as they are known as of today. This is becoming the most popular loan out there today in the York, PA area. The most important factor is the amount of money down that is required by HUD. As a buyer you will need to have at least 3.5% down of your own in the transaction. The Seller can contribute up to 6% of the sale price towards the Buyers closing costs as of today. That will be changing shortly to 3% in april. You can see why it is one of the most popular loans in the market. You can get into a $200,000 house for as little as $7,000! With the rates hovering around 5% +/- and the tax credit of between $6,500 for a current married homeowner or $8,000 for a first time homeowner (not owned a home in the last 3 years) you can practically get in for no money down. Keep in mind there is an up front mortgage insurance premium that you can add either to the mortgage amount or pay it at time of settlement. There is also a monthly fee that is added to your mortgage payment.

For more information call us at The Pilgrim Team. 717-757-5955