Recently, the merits of the 30-year fixed rate mortgage (FRM) have been debated in some financial circles. However, there appears to be little dispute for consumers; the 30-year FRM is a valuable tool for budgeting and that value will only rise with mortgage rates over the coming decade. That, according […]
We’re pleased to report that nationally, pending home sales (contracts, not closings) were higher in May than they have been in six years. Realtors across the nation keep a close eye on indices like the Pending Home Sales Index because they are based on far-reaching and forward-looking. The PHSI increased […]
It’s summertime, and that means it might be time to get off the sidelines and into the home shopping action. At Bowen Agency Realtors, we look forward to helping you find the right home for your needs. Here are a few Summer 2013 trends to consider: Mortgage Rates Will Stay […]
If you’re on the fence about listing your home, you’ll be pleased to discover that in Central PA, we’re currently experiencing a low inventory of homes and increased buyer traffic. In fact, many homes in our region are receiving multiple offers in a short amount of time. The time to […]
We’re pleased to report that across the nation and regionally, the outlook for the housing market in 2013 is stronger than in years past. National home prices have been on the uptick for eight straight months and jumped 6.3 percent year-over-year in October – the largest increase since June 2006. […]
One measure that experts use to gauge housing affordability is known as the “Median Multiple,” which is the annual pre-tax median house price divided by the median household income. Generally speaking, in the decades following the Second World War, a ratio below 3.0 has been considered to be the benchmark […]
The continuing foreclosure situation affects nearly all homeowners, either directly or indirectly. Until the situation is resolved, the large nationwide inventory of foreclosed homes undermines home values and disrupts entire families. One way that banks are working with homeowners facing foreclosure is to expedite the process by conducting “short sales.” […]
Every day the news media report statistics, sometimes with confusing and conflicting messages. Housing is up! Housing is down! Interest rates are low—buy now! The market hasn’t bottomed yet—better wait! The average consumer considering a move isn’t sure which way to go. Numbers, percentages, pie graphs, flowcharts—splashed across websites and […]
Be sure to keep track of our market activity. Hover over the ‘About’ tab on the home page and scroll down to ‘Local Statistics’. They’re updated monthly for your convenience. As always, we welcome your comments and questions.
Please join us this Wednesday February 9th at the Central PA Chamber Office, 30 Lawton Lane, Milton for a consumer friendly overview of local real estate market conditions. Topics of discussion will be where we are and where we are headed. A few vendors related to the industry will be bringing you up to date on […]
