Buy | Sites Realty, Inc.
Why buy with Sites Realty, Inc.
When you are ready to buy a home, property or commercial location in the Gettysburg, Pennsylvania, area, partner with Sites Realty, Inc. We have an excellent reputation and years of experience helping clients find their dream home, providing realistic comps so you know you’re paying the right price. Thanks to our wealth of local knowledge and understanding of the area, we’ve been the Pick of the County first place winner for 11 years in a row.
Call Sites Realty, Inc. today at 717-334-4674 to get started on your real estate journey with a knowledgeable agent.
Living in the Gettysburg area
Gettysburg, Pennsylvania, is a small town that has all the comforts you want and more. Established in 1786, the town is steeped in history, most notably due to its role in the American Civil War. Gettysburg is known as the “Historic Crossroads” as the Union and Confederate Armies fought for three days in July 1863 in and around the town to gain control of the intricate, intersecting road system that ran through the town.
Today, Gettysburg offers residents the comfort of small-town living with plenty of modern, suburban amenities. There are many restaurants, coffee shops, museums, historic buildings, specialty shops, taverns and parks to enjoy. Gettysburg has excellent school districts as well as access to higher education with Gettysburg College, a four-year college founded in 1832. The Majestic Theater brings exciting entertainment to the area, with films to enjoy on the screen and live acts on the stage. WellSpan Gettysburg Hospital brings acute care and emergency health services to residents, and the Gettysburg National Military Park offers a glimpse into history at the Civil War battlefield.
There are a variety of businesses that provide job opportunities while staying local. For those who work from home or are looking to leave the daily rat race, Gettysburg is an excellent alternative to commuting to or living in bigger, busier cities and regions like Baltimore, Washington, D.C., northern Virginia and Harrisburg.
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Financing, home worth and insurance
Financing a home purchase
Buying a new home can sometimes feel like you need a degree in finance for it all to make sense. At Sites Realty, Inc. we want to make it as easy as possible, helping you understand the process in a way that ensures you aren’t paying more than you should. We have the tools and knowledge to provide you with a comparative market analysis for true home values based on real area comps, not simply looking at what Zillow, Trulia or Realtor.com believe the value should be. We also have several local lenders we trust and recommend to our clients for excellent financing service, including Bay Capital Mortgage Corp, ACNB Bank and CrossCountry Mortgage.
Determining home worth
Ultimately, a home is worth what is paid for it. Everything else is an estimate of value. For example, during a hot seller’s market when housing demand is high but inventory is low, homes can sell above and beyond the asking price as buyers bid up the price. The fair market value, or worth, is established when a “meeting of the minds” between the buyer and the seller takes place. Certified appraisers trained to provide the estimated value of a home will determine its appraised value, which is based on comparable sales, the condition of the property and several other factors. The list price, or asking price, of a home is a rough estimate of what the seller wants. To determine whether a list price is fair, look at the sales prices of similar homes that have recently sold in the area — the actual amount homes have sold for, not what they may have been listed for.
Private mortgage insurance, title insurance and homeowners’ insurance
Private mortgage insurance (PMI) is required by lenders on most conventional loans with less than a 20% down payment, as it guarantees the lender will not lose money if the buyer defaults on the loan, forcing the bank to foreclose. This insurance is paid for by the buyer through a small fee at the outset and a percentage of the face amount of the loan added into the monthly payment. Once enough equity has built up in the property, this insurance is usually no longer necessary. Do not confuse PMI with mortgage life insurance, which pays all or a portion of the mortgage in the event of your death.
Title insurance is almost always required for closing on a home and protects the lender against unclear title to the property you are purchasing. For your own coverage, you can purchase an owner’s policy to protect yourself against any title-search errors and losses that arise from disputes over property ownership. The cost of title insurance is usually a set value per thousands of dollars of the total loan amount.
Homeowners insurance protects against disasters, typically including natural, manmade or mechanical. Standard policies insure the home and possessions, including liability for any harm, loss or property damage that you or your family members cause others. It also includes additional living expenses in case you are temporarily displaced because of damage from a fire or other insured disaster. Although this is not legally required, mortgage lenders require it prior to loan approval. Plus, it’s always a good idea to have as protection for your home and belongings. Coverage can also be expanded to protect your home in the event of earthquakes, floods, war and nuclear accidents, some of which may be required depending on the location of your home.
