Should You Consider Private Flood Insurance?

Thirty years ago, when I was starting my real estate career, I met Bill Ross and his wife Hope and had the privilege of helping them sell their home in Lancaster County.  Since that time, Bill has become a managing partner of Ross Insurance Agency and spurred its growth to one of the premier, independent insurance agencies in Lancaster County.

Over the past month, we have witnessed the devastating damage caused by floodwaters in the state of Texas.  Many of the images we have seen are of quaint residential neighborhoods that were destroyed by the torrential rain dumped on this area by Hurricane Harvey.  What is even more astounding is that most of these flooded areas are not in a flood zone as defined by the government. Homeowners are left wondering, “Could this happen to me?”

Bill recently wrote an article that appeared on the Lancaster County Association of REALTORS® blog, “Closing Comments”, that I thought was both interesting and informative.  Hope it provides you with valuable insight and helps you determine whether private flood insurance is something you should consider. Continue reading

Lancaster County Real Estate Market Statistics for February 2017

And you thought Old Man Winter had taken a vacation.  I think it was just a coffee break before he decided to really get to work.  Oh well, on to the numbers.

(Click on any of the charts to enlarge and/or download)

2017 02 February Market Stats - Avg Sales Price

A steady rise in average sales price bodes well for the real estate industry.  This past month, the benchmark inched closer to the $200,000 mark and was up 4% over last year at this time.  Homeowners across the board are finding that the equity in their homes that had been lost during the Great Recession, is making a steady comeback.  In fact, according to Core Logic, just over 1 million borrowers moved out of negative equity during 2016, increasing the percentage of homeowners with positive equity to 93.8% of all mortgaged properties, or approximately 48 million homes.  As the economy strengthens, this will only get better.  Continue reading

A lot happened in the Lancaster County business world this year that will help shape its future for decades to come.  Real estate made a huge comeback with residential housing leading the way.  More consolidation in the banking industry and new entrants into the market vying for customers’ attention.  Lots of approved expansions in local health care facilities.  And on top of all that, you can now buy your favorite adult beverage at local grocery and convenience stores.

Read the Top 10 business stories of the year here as published by Lancaster Online.

All the best!

 

Lancaster County Real Estate Market Statistics for November 2016

The month of November has come and gone, and with it, the cool, crisp air has turned a little frosty.  But that change in temperature has not deterred the local real estate market from continuing to perform at a high level.  Take a look at the numbers.

(NOTE:  Click each slide for a larger image.)

november-2016-market-stats-avg-sales-price

The average sales price in Lancaster County ticked up 1% in November as compared to last year.  This steady rise is good news for those people that saw the equity in their home get squeezed during the Great Recession of 2006-2010.  It appears that the $200,000 is right around the corner.  Continue reading

Guide to Presentation of Multiple Agreements

The real estate market has been extremely active this year.  It is not unusual for an agent to put a well-priced home on the market and within a short period of time, receive multiple agreements on the property.  As a listing agent, you feel a sense of relief and excitement all at the same time.  However, this positive situation can go off the tracks quickly if you don’t handle the presentation of the agreements to your seller in the proper manner.  Continue reading