Hello and welcome! Today we’re talking about “seller help” – you hear about it but what is it? “Seller Help”, “Seller Assist”, “Closing Cost Assistance” all refer to the same financial concept – moving some of the seller’s proceeds over into the buyer’s side of the settlement sheet. So, if a seller is expecting to receive $20,000 in proceeds at a certain price point, they can offer $5,000 to the buyer as an incentive as part of the agreement. Naturally they would then net only $15,000. Normally, the buyer initiates the proposal to add seller help.

(note that the name doesn’t much sense – most people think it should be “buyer help” or “buyer assist”. Sorry, I didn’t make it up!)

In this buyers market a great number of offers are made including seller help. Generally, if there is equity to be used, a seller is wise in considering these offers. With the general scarcity of qualified buyers even an offer with large (6% plus) amounts of seller assist included are worth considering. By the way, the typical range of seller help is 3%-6% per mortgage guidelines, but it can be more.

Now you know all about “seller help”!

The “F.L. Suter Home” is an expansive 4,604 square foot Tudor Revival home nestled along Wheatland Avenue in the first phase of School Lane Hills (homes built in the first quarter of the 20th century).  The 5 huge bedrooms and 4 updated baths make the upper floors fully functional for any family, but it’s the first floor that truly delights.

Here’s a list of some of the features of 1112 Wheatland Avenue:

• Prestigious School Lane Hills neighborhood
• Wide street with light through traffic
• 2 blocks from President Buchanan’s Wheatland estate
• Close to vibrant Lancaster City downtown and F&M college campus

• Architecturally and period-sensitive kitchen remodel
• All new premium appliances
• Restored and expanded butler’s pantry
• Baths remodeled or restored
• Central staircase to all floors
• Large foyer and full-length central hall
• Huge living room and covered side veranda
• Dramatic 1927 great room extension
• Master suite with full dressing/laundry room/balcony
• Full third floor guest living capability
• Formal dining room with French doors
• Abundant closet space throughout
• Full basement with plenty of extra storage
• Flagstone walkways and patio
• Terraced rear yard with new privacy fencing

• Updated electric and mechanicals
• New high efficiency gas Boiler and Hot Water Heater
• Excellent exterior condition, no deferred maintenance
• Many upgrades and maintenance work completed – move right in!

This is a Coldwell Banker Previews Home in Lancaster County, PA so you can expect something wonderful… see the big photo tour and more property details at www.1112Wheatland.com.

Today we’re with Josephine Stoltzfus of Sprama Design to talk about getting into décor in your home or apartment. Josephine is an experienced Lancaster PA home designer and talks about layering techniques and using color & patterns to pull things together.

While some aspects of design and decoration are best left to a professional in the field, Josephine was enthusiastic about the possibilities that can be explored even on a tight budget using relatively inexpensive pieces. Creative groupings, offsetting pattern sizes and color schemes that can be replaced as your taste changes are some of the ways she lays out in this video episode.

If you are interested in professional home design services (from décor choices to actual CAD layouts and working with your contractor) reach out to Josephine or her partner Harmony Boore at http://www.Sprama.com or 717-238-1001 anytime.

For tips on desgning for small spaces, check out this episode filmed in Lancaster City:http://www.youtube.com/user/yourlancasterhome#p/f/65/wFbE4TYK7jw
_____________________

Thanks for watching! If you LIKE this episode PLEASE take a moment to subscribe here at http://tv.yourlancasterhome.com and pop over to my facebook page to LIKE it at http://www.facebook.com/lancasterhomes

Choose Jeff Geoghan for you next home sale or purchase in Lancaster! Thanks.

(c) 2011 Jeff Geoghan

Today we’re going to talk about the Arts & Crafts movement (also known as Craftsman Style homes) in Lancaster County and Central PA. Homes for sale that were built in the 1920’s and 1930’s can either be all Craftsman or use bits and pieces of the architectural style that was extremely popular at the time.

I shot this episode at my listing at 67 Valley Road in Neffsville, next door to Manheim Township Middle and High Schools. You can see the bright, big photos of this home at http://www.67valley.com

Craftsman homes in Lancaster PA or throughout Central PA were largely constructed out of masonry – that was the common base material at the time and while there are examples of stick-built Arts & Crafts homes in Lancaster County I would say they are few and far between. A major component of the style is the large covered front porch, allowing people to spend time outside in the environment. You can spot a craftsman home by the porch and also by the integrated square columns… no round columns. The column in this home I’m at are perfect craftsman columns.

Also, simplicity and staying true to the original materials (wood, block etc) was key to the craftsman home style. You’ll notice that this porch is very clean, with no extra details in the flooring or millwork. Arts & Crafts homes arose as a response to the overbearing european styling that was heavy on “fluff” in the design – therefore it follows that craftsman period home designers would keep it simple.

You can read more about the period online – it’s a favorite home style of mine and, interestingly, since these homes are a)older and b)smaller than most homes for sale in Lancaster, the price to buy a decent craftsman home can be very affordable! This home in Neffsvile is only $149,000. Keep an eye out for those big porches and square columns…

_____________________

Thanks for watching! Please take a moment to subscribe here athttp://tv.yourlancasterhome.com and pop over to our facebook page to “like” it at http://www.facebook.com/lancasterhomes

Choose Jeff Geoghan for you next home sale or purchase in Lancaster! Thanks.

(c) 2011 Jeff Geoghan

Today I take a brief look at Log homes in Lancaster County and the region – do we really have any?  You bet.

It’s an 1878  home, 3 bedrooms 1.5 baths with some outbuildings – a larger garage and barn most notably.  The lot is pretty cool, L-shaped with some ground back away from the road.  1.56 acres on the books.

It’s a bank foreclosure priced ONLY AT $124,900!!!  The negatives are that the house needs lots of work (but is not in disrepair as I understand it) and that the septic system is a cesspool that needs to be pumped.  It’s my understanding that the property may actually qualify for FHA or VA financing!  If you could finance it using FHA’s 203K program you could potentially install a proper septic drainfield or sandmound system and still be way under market price…

If you want to see this property give me a call at 717-799-0851 or email at farmettes@yourlancasterhome.com.

]]> http://www.lancasterparealestateblog.com/2011/08/03/lancaster-pa-farmettes-watch-great-deal-in-conestoga/feed/ 0 http://www.lancasterparealestateblog.com/2011/07/28/lancaster-pa-real-estate-first-half-2011-lookback-price-bracket-sales/ http://www.lancasterparealestateblog.com/2011/07/28/lancaster-pa-real-estate-first-half-2011-lookback-price-bracket-sales/#comments Thu, 28 Jul 2011 19:42:34 +0000 Jeff http://www.lancasterparealestateblog.com/?p=1313 Yesterday we looked at total home sales for Lancaster County, PA real estate in the first half of 2011.  You can see that here: http://www.lancasterparealestateblog.com/2011/07/27/first-half-home-sales-lookback-for-lancaster-county-pa/

Today we examine what price brackets are selling better than others…

The biggest increase was in homes priced under $100,000, a whopping 36% increase over last year!  The “meat & potatoes” bracket of $100,000-$199,999 was essentially flat (4% up to be exact).  The losers?  Everything over $200,000…

North Shippen Place condominiums are located at the corner of East Walnut and North Shippen in Lancaster City, Pennsylvania.  The address of the main building is 231 North Shippen Street, Lancaster PA 17602.  There are 4+ floors (they have a little “half floor” the way the building is constructed).  The building apparently was converted from a tobacco warehouse in a good example of adaptive re-use in Lancaster City.

The prices for condos in North Shippen Place range from the low $90,000’s to about $130,000.  It is possible to rerent them – units will show up on Craigslist from time to time.  The condo fee is fairly low – approximately $210 per month that covers most everything.  Owners don’t get any extra storage, but parking is wide open and nobody ever complains about not getting spaces.  Of course, city property taxes aren’t cheap but overall these condo homes are very affordable homes in Lancaster County.

The real cool stuff, though, is the proximity of North Shippen Place to the heart of Lancaster City.  It’s only a few blocks to Lancaster General Hospital’s main campus, and does qualify for the the Lancaster General “Home In The City” homebuyer incentive the hospital offers.  A couple of blocks further is North Queen Street with it’s shops and restaurants.  Another block and you’re right in the middle of downtown Lancaster City.

Search Lancaster City Condos For Sale

As we can see, homes sales are indeed off this year – 17% to be exact.  Without any tax gimmicks to shore things up, we’re looking at raw sales trends.  New listings are also off by almost 10%.  The listings trend most likely reflects homeowners sitting on their houses in the face of financial uncertainty of various sorts.  Pending sales are also down, by 6%, over 2010.

Of course, prices are also down.  The burning question is “how much?”.  Well, the median sold price was down 6% over 2010 prices – that’s covering all price ranges and all over the county, all residential properties.  Sellers listed at 4% less on the median, too – a welcome trend as sellers finally come grips with the real estate downturn.  Lastly, average days on market was WAY up, 34% in fact.  Frankly, it’s taking a lot longer to get houses sold.

Here’s the historic home sales graph.  The lavender line shows how sales this first half of 2011 have been low.  Important to see is the red line, which shows how the last tax credit affected the market in 2010.  We need to get past July’s skewed numbers to see where sales will go in the second half of 2011.   Hopefully these Lancaster PA real estate market stats give you a truer idea of how sales are going.

I’ll be back tomorrow with the sales by price range – very interesting how the Lancaster County home sales market is shifting pricewise….

If you’re looking at buying a home you’ll likely come across the phrase “privacy violation” somewhere. In a nutshell, a privacy violation occurs in real estate where you have to pass through one room to get into another, specifically with bedroom spaces.

This is a common issue in homes for sale in Lancaster City, PA and also in older farmhouses around Lancaster County. I was just in one such home this morning showing it to some buyers from New Jersey. Privacy violations can be a significant issue when listing agents don’t disclose them properly and buyers are led to believe that there are 3 bedrooms (for example) when in reality you have to walk through 1 of the them to get into another. The real estate convention is that, for a room to be counted as a bedroom, it must have 2 things:

1) Independent access to a common area (hallway, living room etc).
2) A closet space of some sort.

Rooms with privacy violations are commonly included in the MLS and advertising as “bedrooms” – there’s just so many of them and the county tax records generally note them so why not, right? As a buyer you’ll need to know that before setting up the showing, though.

_________________

Thanks for watching! Please take a moment to subscribe here athttp://tv.yourlancasterhome.com and pop over to our facebook page to “like” it at http://www.facebook.com/lancasterhomes

Choose Jeff Geoghan for your next home sale or purchase in Lancaster PA! Thanks.

(c) 2011 Jeff Geoghan