Masonic Realtors – Guiding Homebuyers Through a Tight Market

Brother Rob, Perseverance Lodge No. 21, Harrisburg, has been a realtor with RE/MAX since 2000, along with his father (also a Mason), his brother and a family friend. He enjoys guiding first-time home buyers through the purchasing process in the Harrisburg and Central Pennsylvania area.

“It is very exciting seeing them accomplish their dreams of homeownership,” he said. “I find it rewarding to give them their first place to call home.”

Rob advises anyone who is looking to buy a home to work with a qualified realtor to represent you as your buyer’s agent. Have your realtor help you through all the necessary pre-approvals and make sure to limit spending during the home-buying process (i.e. avoid large purchases like a new car or new furniture). Most important, take a deep breath and try to have some fun during the process.

“Be patient, because it can be frustrating sometimes,” Rob said. “We’ve had as many as 26 offers on one house after getting out of the pandemic. That has changed a little since then, but it’s not uncommon in our area to see multiple offers on a house.”

Today’s housing market looks different than it has in past years, when you could get a 3% interest rate on a 30-year loan. Mortgage rates now near 8% are cooling the market faster than normal. For the most part, sellers have the upper hand, Rob said.

Owners are not super motivated to sell unless they need to move due to a major life change, like a new job or an expanding family. While there used to be 50 or 60 homes for sale in the Harrisburg area at any given time, today that number is closer to 10 or 15, Rob said.

“There is still high demand and a pool of buyers,” he said. “People want to own their homes and live the American dream. But they are up against a lot of competition. In our area, there are still multiple offers and bidding wars. It’s a hot market if you’re looking to sell but challenging if you’re looking to buy.”

Rob advises sellers to price their home correctly at fair market value or even a little lower. That will lead to multiple eyes on the listing and multiple offers, ultimately leading to a higher selling price.

“It’s also very important to declutter and get your house ready for sale,” he said. “Make sure it’s clean and ready for photos and use a professional photographer. Your first showing is online these days [on Zillow, for example]. It’s really that first experience of showing your home.”

Brother Greg, Dallas Lodge No. 231, Pittsburgh, advises potential homeowners to get their finances in order sooner rather than later, making sure they have enough money for a down payment on a house and to potentially offer more than the asking price.

“It makes you more competitive and a stronger buyer in this market,” he said. “Be prepared for multiple, non-traditional and creative offers, like waiving home inspection or possibly paying for some seller closing cost, such as transfer taxes. Hopefully, the seller’s agent explains to them that the net profit is what they are looking for.”

As far as home improvements that can make a difference in bringing value to the buyer, it mainly comes down to the kitchen and the bathrooms, Greg said. If they are updated, clean and in good condition, you will get the most value from the home. Fresh paint also works wonders.

“Adding super high-end appliances in a moderately priced home would not have a return you would be looking for,” he said. “Over improving for the neighborhood is something to avoid as well.”

The most important thing to look for when touring a home is “Does it fit the lifestyle/family size you are trying to achieve?” Greg said. “Also, are you going to be living in the home for a few years or long term? Resale value is important for short term. As far as making an offer, make sure you are comfortable with the price, down payment and closing costs and the monthly mortgage payment.”

When buying a home, you’ll need to understand what things will need to be repaired or replaced in the near future. If the roof is older, for example, plan on budgeting to replace that. Performing a home inspection to get a basic understanding of the condition of the home is always recommended.

“The best way to keep your home or lodge in good shape is to perform routine maintenance and keep the house or building clean,” Greg said. “Have the furnace inspected every year. Clean the gutters annually. If a problem arises, fix it as soon as possible. Don’t wait for it to become a bigger problem.”