Are you considering buying a home in Central Pennsylvania? With mortgage rates at historic lows and special programs offered by the government, there are lots of reasons to buy, especially if you're a first time home buyer.  Coldwell Banker Select Professionals is posting the following list of five reasons to buy a home in order to provide some incentive for you to begin your home search.

1. Appreciation:  While the real estate market is cyclical, the general trend over time is for a home to increase in value.  This means buying a home is truly an investment for the future.

1. Pride in Ownership:  Owning a home gives you and your family a sense of security and pride—you have a place to call your own where you can do what you like.  You can paint the walls any color, landscape to your liking, and remodel the bathroom without asking for someone else’s permission.

1. Reduce Income Tax:  As long as the balance on your mortgage is smaller than the price of your home, you can deduct mortgage interest on your tax return.  You can also deduct what you spend on property tax.

1. Build Equity:  As you pay off your mortgage, you are building equity in your home, which will serve you well in the future.  As a renter, you are throwing money away—the monthly rent you pay makes no investment in your future.

1. Interest Rates:  The current combination of low interest rates and high inventory makes it an ideal time to buy.  If you decide to wait, interest rates could increase, which will result in a high monthly payments.

Please contact Coldwell Banker Select Professionals if your looking for personal service and have questions regarding buying a home in Lancaster PA, York PA, Harrisburg PA, Lebanon PA, Hershey PA and Cumberland County PA.  Be sure to connect with one of our agents at www.cbselectpros.com.  We have local offices serving all of Lancaster, Lebanon, York, Hershey, Harrisburg, and Cumberland County PA.  Get started on your search today!

Are you planning a move in the near future?  With mortgage rates at historic lows and many properties to choose from, now is the time to make your move and take advantage of the current market.  Coldwell Banker Select Professionals is posting the following 10 tips to help make your move as smooth as possible. 

Notify People of your New Address.  A month prior to your move make sure you inform all your service providers and the post office that you will be moving.  You don't want to be paying for services you're not using!

Pack Yourself.  You will save money if you have the majority of your possessions packed up and ready for the movers to put in the truck.  Organization and prior preparation is key!

Get Creative!  Consider using old newspapers, towels, and even clothing to protect your more fragile belongings. You don’t need to waste your money on all those expensive packing supplies.

Boxes, Boxes…and more boxes!  You will need more than you think, so plan ahead and start saving them early.

Use your Luggage.  Make sure you’re not bringing empty suitcases to your new home!  Pack them full and use every bit of space possible.

Color Coordinate.  Create a color key for each room in your new home.  Each box should be color coded so the movers know exactly where to put them when they unpack.

Stick Together.  Keep items together that go together.  For instance, you’ll want to pack a pair of bookends in the same box and all the electrical cords that go with a particular electronic device together.    

Keep Important Paperwork and Valuables.  Make sure these stay with you at all times.  You do not want to entrust their safety with the movers!

Leave Pets and Small Children with a Friend.  Otherwise, they tend to get in the way and make a stressful day even more so.  Moving can be a confusing process for kids and pets, so try to minimize their angst by making alternate arrangements for them the day of the move.

Survival Kit.  Make sure you keep a box of essentials with you in case the movers are late.  Also, this kit will ensure that you don’t have to scramble to unpack everything as soon as you arrive at your new home.  You will have the basics you need together in one box.

Few things are more hectic than moving, so keep a positive attitude, remind yourself it will be over soon, and follow these 10 simple tips to make life easier.

If your looking for personal service and have questions regarding homes and loans in Lancaster PA, York PA, Harrisburg PA, Lebanon PA, Hershey PA and Cumberland County, be sure to connect with one of our agents at www.cbselectpros.com or one of our mortgage specialists at www.homenat.com.  Home National Mortgage and Coldwell Banker Select Professionals has local offices serving all of Lancaster, Lebanon, York, Hershey, Harrisburg, and Cumberland County PA.

Looking to list your home in Central Pennsylvania? With mortgage rates at historic lows and special programs offered by the government, there's a lot to attract buyers, especially first time home buyers.  In order to enlighten the listing process, Coldwell Banker Select Professionals is posting the following information regarding what you can expect when first listing your home.

To begin the listing process, there are two main steps that must occur.  First, a real estate professional will discuss the Consumer Notice with you.  The main points within this document are as follows: a notice that the licensee represents the consumer only when an agency agreement has been signed.  There is also a description of the types of business relationships allowed in PA, as well as a description of the duties a licensee owes you regardless of the business relationship.

Next, the licensee and you, the seller, discuss the different services offered by the broker, including the marketing program.  At this point you will also provide information about the property as well as personal concerns and desires.  Once all this information is clear between you and the licensee, you both can be assured your business relationship will be suitable to the other and create a contractual agreement which becomes the listing contract.

Now it is time to decide upon a price for the property, which is ultimately your, the seller’s, decision.  A real estate broker or salesperson may assist the seller in this process by creating a comparative market analysis (CMA).  This is a tool analyzing properties that are for sale or have sold which are similar to the seller’s in size, amenities, location, age, and style. It is important to price the home appropriately—overpricing can give a seller false hope while driving away potential buyers.

The above is a basic outline of what you can expect from the listing process, so please contact us if your looking for personal service and have questions regarding listing your home  in Lancaster PA, York PA, Harrisburg PA, Lebanon PA, Hershey PA and Cumberland County, be sure to connect with one of our agents at www.cbselectpros.com.  Coldwell Banker Select Professionals has local offices serving all of Lancaster, Lebanon, York, Hershey, Harrisburg, and Cumberland County PA.

COLDWELL BANKER AFFILIATED COMPANIES IN U.S. AND CANADA INCREASED MERGER/ACQUISITION ACTIVITY BY 71 PERCENT IN 2008; BRAND ALSO ADDED 22 NEW COMPANIES IN 2008

Vietnam and St. Kitts Office Openings Increased International Presence Last Year

PARSIPPANY, N.J. - The downturn in the real estate market provided opportunities for 96 Coldwell Banker^® affiliated companies in the United States and Canada that increased their size and scope in 2008 through mergers and acquisitions.

The Coldwell Banker system added 22 new companies in the U.S. and Canada including Coldwell Banker Integrity (Rancho Cucamonga, Calif.), Coldwell Banker Select Professionals (Lancaster, Penn.) and Coldwell Banker Castle Pines (Castle Rock, Colo.)

Coldwell Banker branded international franchisees also opened offices in Vietnam and St. Kitts.

“I remain bullish on housing and the success of the Coldwell Banker brand,” said Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate LLC.  “Yes, market and economic conditions have reduced the number of homes sold and home prices nationally, but our continued work to renew our affiliated companies, help them grow in size, scope and profitability and at the same time continuously add new affiliates speaks extremely well for what our great brand stands for.”

Gillespie pointed out that the merger/acquisition activity was 71% higher than in 2007 and was highlighted by activity at: Coldwell Banker United (Bryan, Texas); Coldwell Banker Hubbell Briarwood (Lansing, Mich.); and Coldwell Banker Select (Tulsa, Okla.). 

“We continually stressed to Coldwell Banker affiliated companies that merger/acquisitions in this market represent a great opportunity to increase market presence,” Gillespie said.  “In many cases our corporate staff helped by conducting seminars and one-on-one consultations to assist in the negotiations that took place, but the credit goes to the broker/owners who aggressively sought to make deals and then integrate the newly joined sales associates and management teams.”

Locally, The attitude is infectious; with 100% growth in agents and 200% growth in offices, Coldwell Banker now serves Lancaster, York, Lebanon, Dauphin & Cumberland Counties with real estate, mortgage & title service that is second to none.  Ryan Hess, CEO of Coldwell Banker Select Professionals, praised the organization's accomplishments.  "We're poised for more significant growth in 2009 - despite the tough climate.  It's a great team."

Coldwell Banker is always looking to talk to top real estate agents in Central Pennsylvania about their future business growth by partnering with the #1 real estate brand in the United States.  Contact Colleen Johns at cjohns@cbselectpros.com for more information and for upcoming career nights in all four offices.

Whether you’re planning on buying or selling real estate in Central PA, there are several environmental hazards that you should be aware of.  Coldwell Banker Select Professionals has put together this list describing some of the most common hazards that you should be concerned with:

Indoor Mold: This is common in certain areas of the home because it thrives in dark, damp places.  It is dangerous because it can be growing unabated inside walls, air ducts, attics and basements.  A home may have a mold problem if there was flooding, broken pipes, or a leaky roof—not only do these issues cause mold, but they also cause other significant structural issues.  Mold can cause respiratory issues such as asthma as well as irritate allergies.

Asbestos: This mineral is a common additive to construction materials made prior to 1978 when the Environmental Protection Agency began restricting its use.  Because of its fire resistance and ability to contain heat, it was used in many parts of the home building materials, including flooring, roofing, and insulation applications.  When materials containing asbestos are disturbed, fibers can be released into the air and inhaled, which can cause severe health problems.

Urea-Formaldehyde: This is a widely used colorless, pungent-smelling chemical that is present in many modern building materials and is also a natural byproduct of combustion.  It is most commonly seen in pressed wood products such as fiberboard, particleboard, and hardwood plywood paneling.  While urea-formaldehyde has been shown to cause cancer in animals, its effects on people are inconclusive.  It has been shown to trigger attacks in people with asthma.

Carbon Monoxide: This toxic gas is both odorless and colorless, meaning it can harm or kill you without you being aware.  It is a natural byproduct of combustion, so it can be produced by your home’s furnace or any fuel burning appliance.  Lower levels of exposure can cause flu-like symptoms, but high levels can be fatal.

Radon Gas: This radioactive gas is odorless and colorless, meaning it can only be detected through testing.  It is a naturally occurring substance emitted by the decay of radioactive particles in rocks and soil underground.  In well-ventilated areas, radon causes little threat, but in confined, poorly ventilated areas, such as basements, it can accumulate to dangerous levels.  Exposure to radon gas has been linked with causing cancer.

Lead-Based Paint: Such paint was widely used in homes built before 1978, and lead was used as a drying agent as well as a pigment.  Exposure to lead-based paint most commonly occurs from improper removal through scraping, sanding or burning.  Homes with lead pipes can also create an exposure risk.  Elevated levels of lead in the body can cause serious damage to many organs.  As a result, consumers looking to buy or rent a home built prior to 1978 must be provided with a lead-based paint disclosure. 

If your looking for personal service and have questions regarding homes and environmental hazards in Lancaster PA, York PA, Harrisburg PA, Lebanon PA, Hershey PA and Cumberland County, be sure to connect with one of our agents at www.cbselectpros.com.  Coldwell Banker Select Professionals has local offices serving all of Lancaster, Lebanon, York, Hershey, Harrisburg, and Cumberland County PA.

DISCLAIMER: This information is not meant as professional or medical advice.  If you are concerned that a home has any environmental hazards, Coldwell Banker Select Professionals urges you to have it professionally tested. 

When selling a home, establishing a reasonable and, ultimately, profitable listing price is perhaps the biggest challenge that a homeowner faces. A home priced too high may go unsold, but a home priced too low will result in a loss for the seller.

While determining the correct asking price may take some work, it will ultimately pay off. In fact, in a recent survey of Coldwell Banker real estate professionals, 79 percent agreed that homes in their market that are priced appropriately attract more buyers and move more quickly.

Before settling on an asking price, the professionals at Coldwell Banker Select Professionals recommend taking the following steps:

Choose the Right Sales Associate.  While many home sellers use a friend or relative's referral when selecting a sales associate, it is smart to interview a variety of prospective associates and invite them to show their listing presentations.  Pay attention to how they plan to market the home, and find out how many homes they (and their companies) listed in your local market in the past year as well as how many of them were sold.  Also, make certain they plan to list the home on the multiple listing service (MLS), and inquire about the breadth of the sales associate’s network of contacts.  Remember, the more prospective buyers a sales associate can attract, the better the chance for a successful sale.  Finally, because selling a home will require a lot of communication, the seller should ensure he or she connects with the sales associate’s personality. 

Do the Homework. Home sellers should work with a real estate sales associate to develop a written comparative market analysis (CMA). This will provide a list of recent sales prices of similar homes in the area (with comparable numbers of bedrooms, baths, square footage and lot size), the asking prices of homes currently for sale in the neighborhood and other relevant information.

Take the Emotion Out of It. Sellers often take great pride in their homes, but it is important to set a priced based solely on factors like location, condition and size. A house in a secluded, exclusive area may be appealing to some buyers, while others will want to be closer to schools, shopping and health care facilities. What is the physical condition of the home? Is it a fixer-upper? Does it make a good first impression (or have “curb appeal”)? Will it appeal to a growing family, or is it better suited for empty nesters? These are all things that need to be considered when pricing a home.

Determine If It Is a Buyer’s or Seller’s Market.  Home inventory, mortgage interest rates and the economy play a role in determining whether the buyer or seller has a negotiating advantage.  Interest rates remain at historically low levels even as the economy shows signs of improving, allowing buyers to be in a good position to shoulder the “good” debt of homeownership.  A sales associate will know the inventory levels in the community.

Do the Math. Do not forget to figure in closing costs, legal fees and other selling expenses when determining the selling price.  The sales associate should be able to provide cost estimates, and negotiate with a potential buyer to ensure a fair sale price. 

Give It the Once Over. After working with a Lancaster PA real estate sales associate to get a CMA and considering all the other factors, the listing price will be set.  But there is one more step in trying to ensure that the house sells for that price, or more.  Do as much as possible to improve the home’s appearance: touch up the paint, fix leaks, seal any cracks, clean the home, eliminate clutter and rid the home of any pet odors. The house has only one chance to make a first impression.

Coldwell Banker Select Professionals serves the Lancaster PA real estate, York PA real estate, Lebanon PA real estate, Harrisburg PA real estate, Hershey PA real estate and Cumberland County real estate markets with professional Realtors, real estate agents and homes for sale.

Looking to buy a home in Central Pennsylvania? With mortgage rates at historic lows and many properties on the market, there's a lot to attract first time home buyers this spring.  In order to enlighten your home buying process, Coldwell Banker Select Professionals is posting this Q&A you should go through with potential home inspectors courtesy of the US Department of Housing and Urban Development:

1. What does your inspection cover?

The inspector should ensure that their inspection and inspection report will meet all applicable requirements in your state if applicable and will comply with a well-recognized standard of practice and code of ethics. You should be able to request and see a copy of these items ahead of time and ask any questions you may have. If there are any areas you want to make sure are inspected, be sure to identify them upfront.

2. How long have you been practicing in the home inspection profession and how many inspections have you completed?

The inspector should be able to provide his or her history in the profession and perhaps even a few names as referrals. Newer inspectors can be very qualified, and many work with a partner or have access to more experienced inspectors to assist them in the inspection.

3. Are you specifically experienced in residential inspection?

Related experience in construction or engineering is helpful, but is no substitute for training and experience in the unique discipline of home inspection. If the inspection is for a commercial property, then this should be asked about as well.

4. Do you offer to do repairs or improvements based on the inspection?

Some inspector associations and state regulations allow the inspector to perform repair work on problems uncovered in the inspection. Other associations and regulations strictly forbid this as a conflict of interest.

5. How long will the inspection take?

The average on-site inspection time for a single inspector is two to three hours for a typical single-family house; anything significantly less may not be enough time to perform a thorough inspection. Additional inspectors may be brought in for very large properties and buildings.

6. How much will it cost?

Costs vary dramatically, depending on the region, size and age of the house, scope of services and other factors. A typical range might be $300-$500, but consider the value of the home inspection in terms of the investment being made. Cost does not necessarily reflect quality. HUD Does not regulate home inspection fees.

7. What type of inspection report do you provide and how long will it take to receive the report?

Ask to see samples and determine whether or not you can understand the inspector's reporting style and if the time parameters fulfill your needs. Most inspectors provide their full report within 24 hours of the inspection.

8. Will I be able to attend the inspection?

This is a valuable educational opportunity, and an inspector's refusal to allow this should raise a red flag. Never pass up this opportunity to see your prospective home through the eyes of an expert.

9. Do you maintain membership in a professional home inspector association?

There are many state and national associations for home inspectors. Request to see their membership ID, and perform whatever due diligence you deem appropriate.

10. Do you participate in continuing education programs to keep your expertise up to date?

One can never know it all, and the inspector's commitment to continuing education is a good measure of his or her professionalism and service to the consumer. This is especially important in cases where the home is much older or includes unique elements requiring additional or updated training.

If your looking for personal service and have questions regarding homes and loans in Central PA, be sure to connect with one of our agents at www.cbselectpros.com or one of our mortgage specialists at www.homenat.com.  Home National Mortgage and Coldwell Banker Select Professionals has local offices serving all of Lancaster, Lebanon, York, Hershey, Harrisburg, and Cumberland County PA.

Looking to buy a home in Central Pennsylvania? Mortgage rates are at historic lows and there's a lot to attract first time home buyers this spring.  If you're curious about how home loans can be repaid, here's a summary of some common repayment options:

Fully Amortized Loans—The borrower pays a constant amount every month that goes towards both principal and interest.  The lender credits the interest portion before the principal, meaning that over time, more of the payment is applied toward the principal.  This is the most common type of loan and it is long term.  They run for 15 and 30 years.

Adjustable-Rate Mortgage—ARMs are made at one interest rate, but over the term of repayment, they fluctuate up or down based upon an economic indicator called an index.  ARMs usually have rate caps that limit the amount the rate can increase, while payment caps set a maximum amount for individual payments.  The adjustment period identifies how frequently the rate can change—e.g. monthly, quarterly, or yearly.

Interest-Only Loan—Borrowers only repay the interest on the loan, meaning they’re not repaying any of the principal and are expecting to build equity in the home from the strength of the marketplace.  While you benefit from relatively low monthly payments, you risk that your property will not build equity as anticipated leaving you with a large loan to repay.

Balloon Payment Loan—These are considered partially amortized loans because at the end of the term, the borrower still owes principal.  The final payment is called a balloon payment because it is usually much larger than all the others. 

Growing Equity Mortgage—GEMs are also called rapid-payoff mortgages because payments of the principal increase over the repayment period allowing the loan to be paid off more rapidly.  They have fixed interest rates.

Reverse Annuity Mortgage—RAMs are unique because payments are from the lender to the borrower and are based on the equity the homeowner has in their home.  This is a popular choice among senior citizens on fixed incomes.  The property is given as security for the loan upon the death of the borrower.       

If your looking for personal service and have questions regarding loans, be sure to connect with one of our mortgage specialists at www.homenat.com.  Home National Mortgage has local offices serving all of Lancaster, Lebanon, York, Hershey, Harrisburg, and Cumberland County PA.

Moving can be a complicated process, especially when the new home is in a different state or across the country. Buyers must research the town, school systems, job market, and neighborhood all before settling on a new location.
The professionals at Coldwell Banker Select Professionals recommend taking the following steps to ensure that when it comes time to move to a distant location, the process goes as smoothly as possible.

First, Get Organized.

When moving many miles away it makes sense to compile a list of the key information required before deciding where to live.  Important questions that will need to be answered include:

•    What is the cost of living? How far will the new money go?
•    What is the price of a similar sized house in the new location?
•    What is the community like? Crime rates?
•    How is the school system?
•    What is the noise factor?
•    Will this be a good area for my spouse to find work?
•    What is the public transportation system like?
•    How long will the commute be?

Due Diligence.

To learn more about the typical lifestyle of the new town, as well as community events and crime rates, get a few back copies of the local newspaper, or log on to the local paper’s Web site.  This third party information, together with information from the local Chamber of Commerce, will give a sense of the area.

Use the Internet.

When it comes to selecting the home itself, the Web is an invaluable tool. Web sites such as www.cbselectpros.com can provide visitors with an abundance of useful information. Functions like the Coldwell Banker Home Price Comparison Index will calculate approximately how much a house will be worth in the new market, which as a result will provide insight into the cost of living.  Visitors also can find a variety of community and neighborhood information including median age and income, percentages of married couples and children, recent home sales, and a listing of elementary and high schools with demographic information on the schools.  

Feet on the Street.

Begin to work with a real estate associate early on when visiting the new city. Look to see how much new construction and remodeling work is taking place. This will indicate whether the neighborhood is growing and developing, and whether current residents plan to stay.  Also, have the sales associate take you through the neighborhood “after hours” to see what the neighborhood looks like when all have returned from work and school.  

Coffee Talk.

If possible, try to have a few conversations with the “locals” near a prospective home. More than anyone, they have their fingers on the pulse of the neighborhood and the community at large.

Work With Your Employer.

If your spouse will be in need of a job, make it clear to your new employer. The company likely will have relationships with relocation experts and executive recruitment firms to help in the spousal job search process.

Simplify the Move. 

Coldwell Banker® customers can use their local Coldwell Banker Concierge® Service Program for assistance in all aspects of the move.  With service categories across the nation, local Coldwell Banker Concierge Service Program representatives can help make things easier.

Looking to buy a home in Central Pennsylvania? Mortgage rates are at historic lows and there's a lot to attract first time home buyers this spring.  If you're curious about the different kinds of mortgages available, here's a summary of some common home loan programs.

The classification of loans is usually based on their loan-to-value ratio where value is either the sale price or the appraised value—whichever is less.  The lower the ratio the, the less risky the loan is for the lender.

Conventional Loans—These loans are generally viewed as the most secure because the loan-to-value ratio is lowest with a down payment of 20% or more.  Borrowers can still obtain these loans with a lower down payment through a private mortgage insurance program.  This insurance acts as additional security for the lender in the event that the borrower defaults.

FHA-Insured Loans—In order to make loans more affordable, the Federal Housing Administration (FHA) insures these loans to protect the lender from the borrower’s default.  These loans have a high loan-to-value ratio but they also have competitive interest rates.  In order to qualify for an FHA loan, the property in question must meet FHA standards.  There is no prepayment penalty and the loans are assumable.

VA-Guaranteed Loans—Such loans are only available to eligible veterans and their spouses and the home must be owner occupied.  Eligibility depends on length of service and the years of service.  There is no prepayment penalty on these loans and they are assumable after certain qualifications and a processing fee are satisfied.

Agricultural Loan Programs—The Farm Service Agency (FSA) is an agency associated with the Department of Agriculture that helps people who want to buy or run a family farm.  The FSA can also provide loans to people in rural areas who want to improve single-family homes.  These loans are available to families with low to moderate incomes and they have low interest rates.

If your looking for personal service and have questions regarding loans, be sure to connect with one of our mortgage specialists at www.homenat.com.  Home National Mortgage has local offices serving all of Lancaster, Lebanon, York, Hershey, Harrisburg, and Cumberland County PA.