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Investment Property, York PA

by The Pilgrim Team

With college starting back up it could be time to consider buying an Real Estate Investment property for your child to live in rather than paying for a dorm room. With interest rates being so low it makes sense to invest in something that you can later sell or hold onto as a rental property rather than pay rent for a room.

York College, Penn State York, Gettysburg College, HACC, and York Technical Institute are some of the campuses nearby.

Pilgrim Team can help you find just the right property that could work for you. Contact us to discuss this opportunity further.

Don't Let Your Credit Score Drop Unnecessarily

by The Pilgrim Team

Don't Let Your Credit Score Drop Unnecessarily

Avoiding Foreclosure now could make or break your attempts to get a loan in the near future and determine whether you can get affordable interest rates.

That's why I've made this site available for anyone in our community struggling with Home Financing payments. Foreclosure alternatives like short sales and deeds-in-lieu allow homeowners to avoid many of the damaging effects of foreclosure. In addition, short sales may have less of an impact on credit scores than foreclosure.

To get all the information on how these options affect your credit score, fill out the form below and click "Send". If you need immediate assistance, contact me right away.

I'm here to assist you.

 
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York PA Real Estate Sales for July

by The Pilgrim Team

Home Sales Comparisons for July 2009 and July 2010 in York County PA

 

July 2009

Homes for sale in york pa sold = 407, Total new listings = 859, average list price sold was $189,141 and sold price was $183,511, Average unsold median price was $228,398.

July 2010

Homes for sale in york pa sold = 271, Total new listings = 741, average list price sold was $176,203 and sold price was $170,014, Average unsold median price was $370,201. The amount of time it will take the market to absorb the current inventory (3,220) would be 11.88 months.

As you can see that there was a -33% decrease in sales from a year ago. With a total inventory of 3,220 currently unsold Homes for sale in york pa, properties must be positioned at the correct price or the market (buyers) will reject the over priced properties. Most surprising is the huge jump in the unsold median price of homes ($370,201) which is a indication that the upper price brackets are not selling and continue to build in the inventory of homes. This is an alarming trend that must be reversed sooner rather than later.

With the current interest rates hovering in the low 4's NOW is the time to buy a home at low prices and with potentially low principle and interest payments. I believe the current economic uncertainty must be cleared up and property taxes always on the rise are putting a damper effect on higher end Homes for sale in york pa. Something must be done in Harrisburg soon or we face a worsening crisis with high end homes.

 

Electric Rate Caps Expiring

by The Pilgrim Team

'What does the electric rate caps expiring mean?' The electricity rate caps were put in place in 1997, controlling costs after legislators restructured the electric industry. The caps for FirstEnergy's Met-Ed, which services most of York County, are set to expire Dec. 31.  This means that Met-Ed can increase its rates. Customers may want to shop for another company to cover the generation portion of their home electricity service, explained Terry Gilman, FirstEnergy spokesman.  Met-Ed will still service the area for transmission and distribution, he said, regardless of which company a customer chooses for generation. Generation reflects only the production of electricity.  The electricity will still be transported through Met-Ed's lines, and Met-Ed crews will still be on scene when there's a problem with lines, he said.  Customers have had the ability to shop for generation suppliers for years, but few chose to do so because Met-Ed's rates were capped, he said.

'What can homeowners do?' Customers who choose to find a new generation company can start by visiting www.papowerswitch.com said Christina Chase Pettis, a spokeswoman with the state's Public Utility Commission.  The PUC Web site walks customers through the process of finding a supplier, she said. By November, the site will be updated to include a list of the generation rates of several licensed companies, she said.  Area residents are likely to be inundated with mailings from companies over the next several months, but it's important to choose a company licensed with the state, she said.  It's also important to read the terms of the contract into which the customer would be entering. Some companies, just like credit cards, offer a low introductory rate that increases after the initial term expires, she said. Some companies also charge a penalty fee for canceling service before the contract expires, she said.  "It's not just as cut and dry as picking the lowest price," she said. "One company might only be cheaper for the first three months."  If a customer finds a rate lower than Met-Ed's and agrees to the terms of the contract, that company becomes the customer's generation supplier.  But customers don't have to do anything.  In that case, Met-Ed will continue to be the default provider, she said.  "The only way you're not going to have (electricity) is if you don't pay your bill," she said.  But customers who choose to stay with Met-Ed are likely to notice an increase on their bills.

'How much will my bill go up?' Though the PUC months ago predicted Met-Ed rates could increase as much as about 30 percent, recent projections show an increase of 9.1 percent.  Met-Ed hasn't committed to a number, but a spokesman said the first three of the four auctions for consumer electricity this year have had rates "about 10 percent higher than the capped rate that is currently in effect." By early November, after the last auction, consumers will know exactly how much of an increase to expect.

Historic York Walking Tours

by The Pilgrim Team

Next up in Downtown Inc’s Historic Walking Tour series is an exploration of Colonial and Revolutionary era York. Daniel Roe of the York County Heritage Trust will guide participants to no less than:

  • The former residence of a signer of the Declaration of Independence.
  • The former residence of a Revolutionary war colonel.
  • The headquarters for two American generals.
  • Buildings visited by John Adams, Benjamin Franklin and George Washington.

Participants will also get a peek at York City as it was through a collection of drawings by Lewis Miller and William Wagner.

The walk begins at 6 p.m. Friday, Aug. 6, and will last about two hours. Participants will be told where to meet after they register.

The fee is $12 for adults and $6 for children 12 and under. A goodie bag filled with coupons and gifts from downtown businesses will be given to each participant.

To register, call (717) 849-2331 or e-mail info@downtownyorkpa.com. When e-mailing or leaving a voicemail message, include your name, phone number and the number of people in your party. Payment will be collected at check-in before the tour begins.

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The Pilgrim Team
Professional Realty Associates
2002 S Queen St, Suite 3
York PA 17403
Office: 717-757-5955
717-755-2683
Fax: 717-757-2887