Upper-end home sales rising - Lebanon Daily News

Local Realtors say the upper-end residential market is on the rise after a couple of down years. Within the past six months it seems things have picked up. On Thursday, Freddie Mac announced that the average rate on a 15-year fixed mortgage has fallen to 3. That's the lowest result since Freddie Mac began tracking it in 1991. Fulton's products include some designed for new medical professionals and jumbo loans of $417,000 and above. One hundred percent financing packages are available for veterans with VA mortgages and customers who qualify for U. For the first seven months of 2011, 592 units were sold in Lebanon County at an average price of $165,662, compared to 653 units sold during the same months of 2010 at an average price of $172,433. In 2009, 661 units sold in the first seven months at an average price of $171,046. Miller recently sold homes for $515,000, $499,000 and $360,000 in Fieldcrest. Some of her customers live in the area and are moving into larger homes. Bollard said five new-build jobs have been started in the past six months in Shadow Creek in North Cornwall Township. Eight lots remain in the 63-lot development, which is just west of Creekside and accessible from Route 241. Shadow Creek home values range from $400,000 to $1 million. Although the market is great for buyers, it's not as good for sellers, and that is holding back customers who need to sell a home before they can buy, Bollard said. Pending sales are 20 percent above figures for June 2010, led by the Midwest at 26 percent followed by the Northeast at 91 percent. Existing home sales are expected to total 5 million this year, the national association predicted, which would be a slight increase over last year. Miller believes the entire local Real Estate market is improving, not just the upper-end properties. Realtors