Real Estate Information

Home appraisers are a necessary part of the Lancaster, PA real estate transaction and it is important to know exactly what Lancaster, PA appraiser's responsibilities are, and to whom.

One of the most common misconception about appraisers is that they work for the home seller. Actually, appraisers are hired to be impartial and provide an accurate "value" to your home in order for lenders to determine if the collateral supports the debt. These same lenders are also putting a lot of pressure on appraisers which result in higher than market value home appraisals.

If you are buying or selling a home it is a good idea to do some research on the role of appraisers and how they effect you.  Click here for some good facts on appraisers and the process.

Have you had any experience with home appraisers? Share your thoughts with us!  If you have any additional questions about the appraisal process call me or email today.

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I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.