Quarterly Newsletter – April through June 2012

Lebanon County Parade of Homes and Mortgage Pre-Qualithon

Get pre-qualified at the “Mortgage Pre-Qualithon” at the Lebanon Co. Assn. of Realtors this Thursday or Sat. 

Dates:  4/19/12 from 6pm – 8pm and 4/21/12 from 10am – 12 Noon

Location:  989 Quentin Rd. Lebanon, PA 17042

Appointments preferred, but walk-ins are welcome. 

Go to www.Lebanon-Realtors.com and click on the Open House Parade tab to register or call 717.272.6126.

National Housing Survey

(We report on Fannie Mae’s Quarterly National Housing Survey every ninety days. Fannie Mae also does a monthly survey covering different aspects of the housing market.

Here are some record numbers we found interesting in Fannie Mae’s March report (emphasis added).

  • Thirty-three percent of respondents expect home prices to increase over the next 12 months, the highest level over the past 12 months.
  • The percentage of respondents who say it is a good time to buy rose to 73 percent, the highest level in over a year.
  • Forty-eight percent of respondents think that home rental prices will go up, the highest number recorded to date.
  • On average, respondents expect home rental prices to increase by 4.1 percent over the next 12 months, the highest number recorded to date.

Doug Duncan, chief economist of Fannie Mae, capped the report off by stating:

“Conditions are coming together to encourage people to want to buy homes. Americans’ rental price expectations for the next year continue to rise, reaching their record high level for our survey this month. With an increasing share of consumers expecting higher mortgage rates and home prices over the next 12 months, some may feel that renting is becoming more costly and that homeownership is a more compelling housing choice.”

Interest Rate Trends:

30 Year fixed: rate 4.06% – APR 4.08% – Change – 0.005%

15 Year Fixed: rate 3.29% – APR 3.43% – Change – 0.013%

15 year- Home Equity Year – fixed: rate 6.94% – Change + 0.006%

For more information on FHA and VA rates, visit:

http://www.mortgage101.com/articles/dailyratesurvey.asp

Featured Listings

189 Cemetery Road, Jonestwon PA 17038 Home – MLS 183098

http://www.trulia.com/property/3060627464–Monroe-Valley-Area-Jonestown-PA-17038

354 Timber Lane Mt. Gretna, PA 17064 – MLS 182343

http://www.trulia.com/property/3058789056-354-Timber-Ln-Lebanon-PA-17042

26 PATRICIA DRIVE LEBANON, PA 17042 – MLS 178649

http://www.trulia.com/property/3051036290-26-Patricia-Dr-Lebanon-PA-17042

429 N 7TH AVENUE LEBANON, PA 17046 – MLS 182543

 http://www.trulia.com/property/1050407053-429-N-7th-Ave-Lebanon-PA-17046

300 W WATER STREET ANNVILLE, PA 17003 – MLS 180840

http://www.trulia.com/property/3028271402-300-Water-St-Annville-PA-17003

130 CASSADEE LEBANON, PA 17042 Lot # 6 – MLS 167825

http://www.trulia.com/property/3029830194-130-Cassadee-Ct-6-Lebanon-PA-17042

174 Furnace Court, Lebanon Pa 17042 – MLS 184657

http://www.trulia.com/property/3064670967-174-Furnace-Ct-Lebanon-PA-17042

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