Prudential Homesale Achieves a Billion Dollars in Sales
Homesale Real Estate Services, Inc., the parent of Prudential Homesale Services Group, has surpassed a billion dollars in real estate sales thus far in 2010.
Lancaster, PA, September 26, 2010 --(PR.com)-- Homesale Real Estate Services, Inc., the parent of Prudential Homesale Services Group, has surpassed a billion dollars in real estate sales thus far in 2010.
To achieve the billion dollars in sales volume, the Company completed 5,690 real estate transactions. Sales volume represents the sum total of the sale prices of all the transactions completed by the Company.
Headquartered in Lancaster County, Homesale Real Estate Services, Inc. has 19 real estate offices in nine south central and southeastern PA counties.
“Hitting the billion-dollar mark again is significant,” said Douglas W. Rebert, Managing Director. “It helps people understand that our local real estate market is healthier than the national media might lead some to believe.”
Prudential Homesale first achieved a billion dollars in sales in 2001 and has hit that mark every year since. Last year, the Company reached a billion dollars in sales volume during the fourth week of September.
“People buying now are taking advantage of the historically low interest rates and the abundance of mortgage money,” said Rebert. “Mortgage rates have not been this low since 1955.”
The first-time homebuyer tax credit added to the strength of the real estate market in the early part of the year, but that program ended on April 30. Since then, however, “...interest rates have dropped low enough that a homeowner can save more than the value of the expired tax credit,” according to Rebert
Rates for a conventional 30-year, fixed-rate mortgage have hovered at 4-1/2% for the last several months. In ten years, a consumer financing $171,000 at 4-1/2% can save $32,548 in monthly mortgage payments versus mortgaging the same amount in the future at a rate of 7%.
75% of the time since 1971, when the Federal Government started to track mortgage interest rates, the average interest rate has been 7% or above.
For more information about Prudential Homesale, please contact Doug Rebert at 717-333-6123, or go to www.prudentialhomesale.com.
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To achieve the billion dollars in sales volume, the Company completed 5,690 real estate transactions. Sales volume represents the sum total of the sale prices of all the transactions completed by the Company.
Headquartered in Lancaster County, Homesale Real Estate Services, Inc. has 19 real estate offices in nine south central and southeastern PA counties.
“Hitting the billion-dollar mark again is significant,” said Douglas W. Rebert, Managing Director. “It helps people understand that our local real estate market is healthier than the national media might lead some to believe.”
Prudential Homesale first achieved a billion dollars in sales in 2001 and has hit that mark every year since. Last year, the Company reached a billion dollars in sales volume during the fourth week of September.
“People buying now are taking advantage of the historically low interest rates and the abundance of mortgage money,” said Rebert. “Mortgage rates have not been this low since 1955.”
The first-time homebuyer tax credit added to the strength of the real estate market in the early part of the year, but that program ended on April 30. Since then, however, “...interest rates have dropped low enough that a homeowner can save more than the value of the expired tax credit,” according to Rebert
Rates for a conventional 30-year, fixed-rate mortgage have hovered at 4-1/2% for the last several months. In ten years, a consumer financing $171,000 at 4-1/2% can save $32,548 in monthly mortgage payments versus mortgaging the same amount in the future at a rate of 7%.
75% of the time since 1971, when the Federal Government started to track mortgage interest rates, the average interest rate has been 7% or above.
For more information about Prudential Homesale, please contact Doug Rebert at 717-333-6123, or go to www.prudentialhomesale.com.
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Contact
Prudential Homesale Services Group
Sarah Sechrist, Communications Manager
717-286-9924
www.PrudentialHomesale.com
Sarah Sechrist, Communications Manager
717-286-9924
www.PrudentialHomesale.com
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