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Real Estate update, Lancaster County Pa

Showing activity has increased and properties going pending are increasing. It’s believed to be the tax credit is motivating people to push forward before this ends. As of today I have heard nothing leading us to believe that this credit will extend. People have asked what will values and activity do after these credits on the table end (if they do). People have asked will values sustain or will they decrease with less demand? My answer, I’m not sure. There will always be a need to buy and sell real estate, people relocate, get fired, get hired, death and not to forget family’s increase and decrease in size every day. Real Estate will undoubtedly come back, but probably not until after a few more years of decreasing values and bumps along the way. They’re already talks of more waves of foreclosures, which will only lesson already uneasy values.

On a positive note, this will provide great opportunities to invest in real estate. Invest in a home or an income producing property right here in Lancaster County. I have no doubt there will be some great deals on real estate yet to come.

Alex