52 Weekends in the Poconos

If you’re thinking of buying a home in today’s housing market, you may be wondering how strong your investment will be. You might be asking yourself: if I buy a home now, will it lose value? Or will it continue to appreciate going forward? The good news is, according to the experts, home prices are not projected to decline. Here’s why.

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Even though experts agree there’s no chance of a large-scale foreclosure crisis, there are a number of homeowners who may be coming face-to-face with foreclosure as a possibility. And while the overall percentage of homeowners at risk is decreasing with time (see graph below), that’s little comfort to those individuals who are facing challenges today.

Sweater weather is coming—and you need more than a Pumpkin Spice Latte to get ready for it!

There’s no denying we’re in a sellers’ market. With low inventory and high buyer demand, homes today are selling above the asking price at a record rate.     According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR):

• Homes typically sell within 17 days 
• (compared to 26 days one year ago).
• The average home sold has five offers to pick from.
• 54% of offers are over the asking price.

Classic Quality Ranch Home - Click to get an arial view!

For first-time homebuyers, Pennsylvania is a relatively affordable market with a median home values statewide that are some 30 percent lower than the national median. The commonwealth has a number of helpful programs for first-time homebuyers — and other categories of homebuyers — to obtain affordable mortgages. In addition, there are Pennsylvania home assistance programs that can provide funds for down payments and closing costs.