Have you located the home of your dreams and are now anxiously awaiting settlement day?  Do you have all kinds of plans for how to decorate or remodel your new home?  This is an exciting time for you and your family, but don’t let it cloud your judgment when you go for the final walk-through.  Coldwell Banker Select Professionals has compiled the following guide outlining some of the most crucial aspects of a final walk through—you will want to be as thoroughly as possible.

The final walk-through is ideally performed the day of settlement so the buyer can ensure the property’s condition has not changed significantly since they decided to buy, that all agreed upon repairs have been finished, and all the seller’s belongings that are not staying with the home are gone.  You may want to bring a copy of your contract with you so you’re not relying solely on memory to guide you. 

You may be tempted once inside the home to visualize how you will be decorating or arranging furniture, but it is important to stay on task.  Especially if the home is vacant, you will want to be meticulous and check every aspect of the property.  Here is a list of what you should check:

1. Turn every light switch/fixture on and off
2. Run all appliances and major systems (i.e. air conditioner and furnace) to make sure they’re working properly.
3. Open and close all windows and check garage door openers
4. Flush toilets and run water on all spigots to make sure nothing is leaking.
5. Inspect the walls, floors, and ceilings for any damage that might have occurred when the seller moved out or that may have been hidden by furniture.
6. Make sure to inspect the attic, basements, and closets for any hidden problem spots or discarded items.
7. Do a thorough search outside the home to make sure all the seller’s belongings and debris have been removed. 

If possible, have the seller present during the walk through so if you have any questions, the seller will be there to answer.  Also, you will want your agent to be there as well so you have a witness in case you find something wrong—you will want to be able to confirm the issue was there before you arrived. 

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.  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!

Cumberland County, Pennsylvania has added over 250 years of county archives to the public website, according a press release this week.  Documents dating back to the county's founding in 1750 are now available for public viewing at www.ccpa.net.

The types of records are non-active, permanent records of various Cumberland County offices & departments (primarily pre-1930).  There are detailed instructions on the website for how to access the archives, and for bigger questions the Cumberland County Archivist is Barbara Bartos, whose contact info is readily available on the site.

For the history-minded, the Cumberland County Historical Society has a page on the county website.  They have an online museum tour which is pretty cool.

The Cumberland County webpage is one of the best in Central PA, and they keep making it better!  If you live in the Cumberland County area it's well worth a look.

Have you built up equity in your home and are in need of some extra money, so you’re looking for a way to take advantage of it?  If so, then you’re like a lot of other homeowners during this economy who are struggling to make ends meet and looking for new ways to supplement their income.  Beware, this is exactly the climate that scammers take advantage of—they offer you options and deals that promise you exactly what you want, but they end up leaving you worse off than you started.  Coldwell Banker Select Professionals is providing the following information to inform you about the two of the most popular scams.

Equity stripping scams start with a homeowner who has built some equity in their home but still needs more money coming in each month.  An unscrupulous lender will encourage you to lie about your income level in order for you to get a bigger loan.  This lender does not care that you will now be unable to afford the new monthly payments, in fact, they are banking on this.  As soon as you stop making payments, the lender will foreclose, taking your home and the equity you built up on it.

Loan flipping is another way in which scam lenders dangle the temptation of extra income in front of you in order to get your money.  In this case, the lender will process a refinance for you to help you take advantage of the equity in your home. After you make the first few payments, they will attempt to convince you to refinance again with the bait that the rates have reduced significantly.  What they don’t tell you is that each time you refinance, there are fees and penalties that wipe out any advantage you gained.  You may have some extra cash, but you also have a lot more debt to pay back over a longer time period. 

Please contact Home National Mortgage for more information on refinancing and home loans.  If you’re looking for personal service you can trust and have questions regarding loans, be sure to connect with one of our mortgage specialists at www.homenat.com. They have local offices serving all of Lancaster, Lebanon, York, Hershey, Harrisburg, and Cumberland County PA.

In situations where the homeowner does not want to retain ownership of the home, the following disposition options may be available as an alternative to Foreclosure. These options affect the owner’s credit rating less than a Foreclosure will.

1. Sell The Home: If there is sufficient equity in the property, the owner may be able to receive more for their property than what is due on the mortgage loan.
2. Assumption: With this option, the owner would sign over the property to another person. That person would then take possession of the home, and take over making the payments.
3. Pre-Foreclosure Sale (Lancaster SHORT-SALE): This option may allow the owner to sell their property for an amount less than what is necessary to pay off the mortgage loan. 
4. Deed In Lieu Of Foreclosure: This option may allow the owner to voluntarily "give back" the property to their Lender without further damaging their credit.

Pennsylvania Housing Finance Agency   www.PHFA.org    HOTLINE  800-342-2397

I.        Lancaster SHORT SALES will have a negative impact on the owner’s credit similar to a foreclosure for a period of time and will most likely prevent them from obtaining another mortgage at a favorable rate for at least 24 months (based on current Fannie Mae rules).

II.    Except for certain conditions pursuant to the Mortgage Forgiveness Debt Relief Act of 2007, be aware the I.R.S. could consider debt forgiveness as income which could result in the owner owing taxes resulting from the sale of the property and/or the forgiveness of debt by the lender.

III. A lender who accepts a Lancaster short sale may pursue a borrower for the difference between the amount owed and the amount paid. In some states, this amount is known as a deficiency. A lawyer can determine whether the loan qualifies for a deficiency judgment or claim.

IV. The Lancaster SHORT SALE process can be lengthy.  Many lenders will take 4-16 weeks to negotiate and accept a contract and settle.

Previously, we described two common equity stripping scams that are prevalent in today’s economic climate.  While the current condition of the economy has many people struggling to make ends meet, you must be conscientious not to fall prey to scammers trying to take advantage of the misfortune of others.  Coldwell Banker Select Professionals has compiled the following list of tips to help you avoid unscrupulous lenders.

1. Ignore solicitations that come unexpectedly by mail, email, phone or door-to-door from people or companies you are unfamiliar with.
2. Avoid agencies that advertise on roadside signs and make offers like, “We buy homes now for cash!”
3. Avoid paying up-front fees.  Any reputable lender will offer a consultation free of charge to help you identify the options that will work best for your situation.
4. Ignore anyone who tells you not to speak with your bank or consult a lawyer.  Information is power, so a lender up to no good will attempt to keep you away from people who can reveal their scam.
5. Do not sign anything you haven’t read thoroughly or had an attorney review—avoid signing documents with blank spaces. Scammers will try to create false urgency to get you to sign documents, but you must resist doing so.

 Remember, if it sounds too good to be true, it probably is. You need to trust your instincts and use companies with good reputations and happy customers.  Please contact Home National Mortgage for more information on refinancing and home loans.  If you’re looking for personal service you can trust and have questions regarding loans, be sure to connect with one of our mortgage specialists at www.homenat.com. They have local offices serving all of Lancaster, Lebanon, York, Hershey, Harrisburg, and Cumberland County PA.

Calculating the estimated mortgage payment...

Several formulas exist to help determine how much a lender will allow a consumer to borrow. One of the more accurate formulas is a front- and back-end ratio. It states that the buyer can afford as much as 28 percent of his or her gross-monthly income toward the monthly mortgage payment, assuming that the consumer's other debt payments(credit cards, car loans, student loans, etc...) are less than or equal to 8 percent of his or her gross-monthly income.

To better understand this formula, assume a gross-family income of $5,000 a month. The front-end ratio or maximum monthly mortgage payment is (28 percent of $5,000) $1,400. The back-end ratio is (8 percent of $5,000) $400. Therefore, the buyer can afford a $1,400.00 monthly mortgage payment as long as monthly debt payments are less than or equal to $400. If debt payments exceed the back-end ratio, it will reduce the monthly mortgage payment dollar for dollar. For example, if debt payments are $500, the maximum monthly mortgage payment a person could afford would be reduced to $1,300.

Are you considering buying a home or possibly in the midst of a home search?  If so, you likely have learned that there are many steps to the house hunting and buying process.  Coldwell Banker Select Professionals is providing the following list of common mistakes buyers make, so please read carefully and avoid these pitfalls.

1. Forgetting about resale: You may love a particular home, but think twice if it is the nicest one in the neighborhood.  You will have difficulty getting a good resale since the surrounding lower home values will weaken yours. 
2. Going at it alone: Although you may be tempted to handle a home purchase on your own, you will most likely regret it.  Buying a home is a very complex process involving many steps and a variety of people.  There are legal issues, inspections, and insurance and mortgage needs that must be addressed.  You will be thankful for involving a realtor who handles a multitude of transactions a year and knows about the hidden roadblocks so you can safely navigate around them.
3. Changing your financial outlook before closing: When you’ve found a home you want to buy, you may be tempted to make some big purchases to outfit it.  After your loan application has been completed, do not buy anything major (large appliances, electronics, a car) on credit or with a credit card.  Alterations in your credit rations could jeopardize your loan and leave scrambling at the last minute.
4. Putting off getting pre-approved: So you’ve found a house you really like and want to put in an offer.  Since you haven’t been pre-approved yet, you rush to get this accomplished.  In the meantime, another party puts in an offer that is accepted, and you’ve missed out on a great opportunity.  To avoid this, you’re first step—even before going on any showings—should be speaking with a lender and determining what you qualify for.
5. Making snap decisions: You may fall in love with a house the second you see it, but do your best to view the situation objectively.  Does the home satisfy the needs of your family and will the mortgage fit comfortably within your budget?  Make sure you have a thorough list of your needs and wants before you start shopping…preparation is the key to success!

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.  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!

So you’ve just moved into your new home and are excited about starting your life in a new place—the possibilities are endless!  Nothing dampens this mood like discovering your neighbor has some undesirable characteristics, and you are wondering how exactly to approach them about it.  Coldwell Banker Select Professionals has compiled the following strategies to help you combat your problem neighbor. 

Do you have a neighbor that is constantly in your business and seems to ask a million questions?  While you probably want to tell them to get lost, you're better off giving as concise and polite an answer as possible and then turn the conversation back on them.  Afterall, people who seek out your attention are most likely looking to tell you about themselves, so satiate their need for discussion by questioning them and saying very little.  Soon, they will get the hint that you’re not keen on sharing the details of your personal life.

You’ve just spent your Saturday out in the yard mowing, weeding, edging and generally beautifying your home, so it really annoys you to look next door and see the unkempt property of your neighbor.  This can be a difficult problem to rectify, but your best bet is to report the problem as soon as you notice it.  Typically, people with little desire to care for the grounds around their home need more motivation to clean-up than a friendly nudge from you.  The authorities can use the zoning code to convince them to tidy up, and if they refuse, a contractor can be hired do the work and then bill the homeowner. 

You’ve had a long day and all you want to do is go to bed and rest in peace.  Unfortunately, your neighbor has his music blaring or his dog is barking incessantly.  Here is another situation in which the authorities may help, but before you go that route, consider approaching your neighbor in a friendly way.  It’s possible they’re unaware the noise is bothering you and would be happy to tone it down.  On the other hand, they may be offended by your request and become confrontational.  Don’t let it get to you—politely decline to get into an argument and just leave.  Let the authorities deal with it, and until the problem is rectified consider using ear plugs to sleep or creating some white noise in your bedroom.

You’ve been looking everywhere for your hedge trimmers when you suddenly remember you let your neighbor borrow them several months ago and he has yet to return them.  While you might be frustrated that he has taken advantage of your generosity, do not let it show when you go to retrieve your property.  Be as friendly as possible and tell him you were planning to use your trimmers (or whatever he borrowed) over the weekend, so you’d appreciate having them returned.  In the future, think twice before lending him your property.

Navigating a tense relationship with your neighbor can be difficult, but if you’re tactful and polite, you will yield the most positive, productive results. 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, be sure to connect with Coldwell Banker Select Professionals and one of our agents at www.cbselectpros.com. 

If you're interested in parks and recreation in Lebanon County, Pennsylvania then I've got a list of some local opportunities for you to check out.

Lebanon PA is a beautiful area located east of the Susquehanna River and Harrisburg, almost midway between Harrisburg, Reading and Lancaster PA.  Historic downtown Lebanon has many gorgeous homes and other architecturally interesting buildings.  An outdoorsman will fill many things to do in Lebanon County PA as well, with parks, walking trails and the wonderful Mount Gretna PA area including Governor Dick, a popular hiking, biking and walking destination.

Here's a snapshot of some key Lebanon PA recreational locations:

So you’ve just moved into your new home and are excited about starting your life in a new place—the possibilities are endless!  Making sure you get off on the right foot with your neighbors is a key component to ensuring your home environment is happy and peaceful.  Coldwell Banker Select Professionals has compiled the following suggestions to help you navigate the path to good neighbor etiquette.

1. Host a Housewarming Party: What better way to introduce yourself to the neighborhood than hosting a friendly gathering where your new neighbors can meet your friends and family.  It shouldn’t be anything fancy—just a low key get-together with a little food and a tour of the new home.
2. Be Conscientious:  Realize that whatever you decide to do to your home will affect those living around you.  Not only should you be meticulous about outdoor upkeep, but if you decide to make any big changes to your home’s exterior, be polite and inform your neighbors ahead of time.  They will appreciate your thoughtfulness and might even have a useful suggestion for you to use regarding good contractors.
3. Avoid Gossip: This is more easily said than done, but it is very important.  Falling into the trap of listening and even participating in conversations within the local gossip mill is so easy, but you must resist the temptation.  Rarely does anything good come of it, and more likely someone’s feelings will get hurt.  You have more productive things to do, so avoid the gossip!
4. Don’t Take Advantage of Other’s Talents & Tools:  You’ve just moved in and there are parts of your home you need to fix to better suit your needs.  You learned that your neighbor works in landscape design, so he has lots of tools and experience you would like to tap into.  Do not take advantage of his generosity by constantly trying to wrangle him into giving you free help—he will get sick of it fast!  If you do borrow his tools, make sure you return them as soon as you’re finished and in the condition you received them.
5. Be Open-Minded: You may find that some of your neighbors come from different cultural backgrounds than you do.  Take the time to learn from them and their culture.  You may feel out of place at first, but you will find that most people are happy to share their culture and experiences with you.  This is a great way to foster positive relationships and broaden your horizons.

Creating positive relationships with your new neighbors can be one of the most rewarding aspects of moving into a new home.  While learning all the social nuances of a new place is a daunting task, the best course of action is to get started right away since the neighbors will be curious about the new arrivals. 

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, be sure to connect with Coldwell Banker Select Professionals and one of our agents at www.cbselectpros.com.