Montgomery County PA Real Estate Guide

Obama proposes new home loan refinancing plan

2012-02-01T12:08:00.000-08:00

Obama proposes new home loan refinancing plan

Realty Times - How Does My Home Compare to Others on the Market?

2012-01-20T07:00:00.000-08:00

Realty Times - How Does My Home Compare to Others on the Market?

Lansdale, Montgomery Township, Autumn Woods, North Penn School District, For Sale, First time home buyer, Townhouses.Search MLS in Montgomery County.Joanne Genesio, Realtor, Lower Gwynedd, Prudential Fox and Roach

2012-01-20T06:56:00.000-08:00

Lansdale, Montgomery Township, Autumn Woods, North Penn School District, For Sale, First time home buyer, Townhouses.Search MLS in Montgomery County.Joanne Genesio, Realtor, Lower Gwynedd, Prudential Fox and Roach

Fireplaces Provide a Warm Glow to a Home on the Market

2012-01-04T02:29:00.000-08:00

Fireplaces Provide a Warm Glow to a Home on the Market

With winter weather gripping most of the country the fireplace takes on greater importance in the sale of a home.
The National Association of REALTORS® recently conducted a survey that found nearly two-thirds of homebuyers had a fireplace on their wish list. The fireplace has become a coveted amenity and homes boasting this feature see its benefits during resale.
“The fireplace is a focal point when people come to see your home,” said Hillary Staats, an interior designer for Sanctuary on Church in Vienna, Va.
That’s why it’s important to make sure that the look of your fireplace has been updated and is working properly. An older looking fireplace that seems an eye-sore can be easily updated.
“There is a lot you can do to enhance the fireplace before a sale. A lot of times, if it has older brick, I will re-stone a fireplace. Other times it could be as simple as changing mantels, adding a fancier screen or placing a beautiful piece of art above it.”
Transformation materials that are inexpensive and easy to work with are tile, manufactured stone, granite, marble and wood. Sometimes even painting over old, ugly brick will make a huge improvement.
“A masonry fireplace can really set a home apart from the rest and significantly improve resale value,” said Larry Kett, owner of Kett’s Hearth and Home in Grand Rapids, Mich. “Adding a mantel also helps. An engaging fireplace and mantel can provide grandeur for an otherwise ho-hum room.”
Keeping the mantel clean and uncluttered is also a must. “You want the fireplace to look inviting but not cluttered, so keep the mantel clear of all photos and knickknacks,” Staats said. “It’s fine to decorate with accessories, but they shouldn’t distract from the fireplace itself.”
If you want to add a fireplace to improve your home’s resale value, consider an electric fireplace as it’s often the least expensive option and reasonably easy to install.
Gas fireplaces are more common today and easy to use, plus they can be installed just about anywhere. There is no need for a chimney, wood or even matches with this type of fireplace and there is no mess to clean up either. Ceramic log kits are efficient and look like the real deal, without ashes to clean up.
Finally, regardless of the season, a fireplace should be kept clean and in working order. “You want your buyer to go home feeling really great about that room and knowing they can move in and sit in front of that wonderful fireplace and hearth,” Staats said. “There are few things as warm and inviting as a burning fire on a wintry day.”

Prudential Fox & Roach is an independently owned and operated member of BRER Affiliates Inc. Used under license with no other affiliation with Prudential. Equal Housing Opportunity. Source.

The Pros and Cons of Home Selling During the Holidays

2011-12-20T04:09:00.000-08:00

The Pros and Cons of Home Selling During the Holidays

One of the great debates in real estate concerns the prospect of keeping a house on the market during the holiday season. Some argue that the time between Thanksgiving and New Year’s Eve is busy enough without the worry of buying a home, while proponents like the prospects since those shopping are generally more serious about buying.
A downside for the seller is that the hectic time of year makes it harder to get your home ready at the drop of a hat if a call comes in. People are busy making food, wrapping presents and preparing for a house-full of guests.
However, your house will also be decorated with beautiful lights and decorations and will create a festive elegance to a home that will attract buyers.
Some agents believe that keeping your house on the market will have you appealing to a much smaller inventory of buyers who have very specific needs that your home might not match. Others counter that less inventory over the holidays means less competition and since more people have vacations this time of year, they actually have more time to search for their ideal home.
The holidays can provide a breather for homes that have been on the market awhile, as some use the time to remove property from the market in favor of a fresh start in January. However, you risk losing the buyer who may have been looking in December to capture tax benefits that many consider with their need to buy a home.
What’s the best solution? Of course it’s up to individual homeowners and their respective circumstances. Prospective sellers should discuss their holiday prospects in detail with their Prudential Real Estate agent. Working together, they can make holiday wishes come true.

Prudential Real Estate

FURNACE AND FIREPLACE SAFETY......Lowe's Inside Out Home Improvement Tips | Produced by Inman News

2011-12-15T05:17:00.000-08:00

Lowe's Inside Out Home Improvement Tips | Produced by Inman News

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2011-12-09T03:57:00.000-08:00

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Looking to Buy a Home

2011-12-01T07:28:00.000-08:00

Looking to buy a home? Checking out homes for sale is a lot of fun … but it’s also work since you want to choose a home that’s not only going to meet your needs but your budget too. So, what should you do to effectively view homes when you are looking for a house to buy?

First, consider how the home meshes with your wants and desires. The home you purchase needs to be functional for your family when you move in, since major renovations can be very costly. More weight should be given to things that cannot be changed, like location and floor plan. I advise my clients to look at it like a pie chart. 35% location (neighborhood, city, schools, etc) and 35% floor plan. Then move on to secondary items that can be changed such as price and condition and weight them at 15% each. Price can be negotiated and condition can be fixed.

As for the technical aspects of the home, leave that to the professionals. “Also consider that a licensed inspector will be brought in during the Option Period negotiated in the contract. Rely on the professionals and don’t make big decisions based on assumptions. But be sure to work with professionals you are comfortable with and don’t be afraid to ask for references.”

That said, buyers should be cognizant of the work that the home might need. “Aging systems like plumbing or electrical can quickly and easily turn a dream home into a money pit for a buyer who’s been lured in by some great curb appeal or staging.”

–Move.com Sarah W. Caron, Contributing Writer

Costs for First-Time Buyers

2011-11-17T03:46:00.000-08:00

Costs for First-Time Buyers

Buying a new home can be a huge, complex undertaking, especially when it’s your first time. That’s why it’s important to have an experienced real estate agent guiding you along the way.
In a survey conducted earlier this year by Prudential Real Estate and Relocation Services (PRERS), a Prudential Financial, Inc. [NYSE:PRU] company, 75% of respondents highlighted the importance of real estate agents in the process of buying or selling their home.
“Americans continue to see real estate agents as having a very important role in helping them price, buy and sell their homes,” said James Mallozzi, PRERS’ chairman and chief executive officer. “Although the data underscores the value real estate agents provide, it also shows that the industry needs to continue to work hard to meet clients’ unique needs.”
First-time buyers need to look at their financial situation and crunch the numbers to see if this is the right time to buy. Chances are the numbers they see today will be the best they will see for some time, which is why so many are considering homeownership.
Still, understanding the money that goes into a home purchase is important. The biggest mistake new buyers make is underestimating the costs of buying a house and maintaining it over time.
Homebuying requires more than a down payment as closing costs and future expenses will figure prominently. Many experts agree that homeowners should have 1%-3% of their homes’ purchase price in savings for improvements and surprise expenses. Mortgage experts also say it’s wise to have at least six mortgage payments in the bank after a closing.
While those numbers may not be feasible for everyone, if you are spending above your means on a new home, you may find yourself in financial trouble fast.
Inspections are important for the first-time buyer, as they list repairs that will be needed for the home. A buyer should put together a short-term and long-term plan based on the inspection so they know how much money they will need in the months and years ahead.
As renters, people are accustomed to paying rent and basic utilities. As homeowners, you’ll also pay for water, sewer and trash collection. Then there are property taxes, homeowner’s insurance and homeowner’s association dues, plus yard care, snow removal and other expenses unique to your location.
To be sure, buying a home is one of the largest investments you’ll make and when done wisely, it can be one of the best decisions of your life. Your real estate agent will help each step of the way, first helping you establish a realistic price point for your home purchase and a clear understanding of your monthly expenses.

Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential company. Equal Housing Opportunity.

Winter Is Approaching … Is your Home Ready?

2011-11-02T05:50:00.001-07:00

Winter Is Approaching … Is your Home Ready?

Autumn winds blow a chilly reminder that winter is fast approaching. Perform the following maintenance tips each fall to protect your property's value and prevent major repairs.

Roof, Gutters and Downspouts

Rain, ice, snow and wind can all cause damage to your roof and gutters. Now’s the time to trim back all tree limbs and vegetation away from the roof. You also should remove debris, such as leaves and sticks from your gutters and downspouts. Clogged gutters don’t allow water to properly drain away from the home, which can cause seepage in your ceilings and walls. You can also invest in gutter guards, a screen that prevents debris from entering the gutter and directs the flow of water away from the house and into the ground.
Water Heater

You don’t want to find out that your water heater isn’t operating properly when you need it most. So use this time to perform an annual inspection, which includes having your tank’s pressure and temperature relief valve checked. In addition, remove sediment from the bottom of the tank by draining two gallons of water to improve heat transfer and the efficiency of your heater.
Heating and Cooling System

If you have a forced warm-air heating system, you should check the exhaust vent and air shutter openings for dirt and dust. Clean any lint and dirt from the blower blades, motor and burner (if you have a gas heater). Vacuum air passages and check and replace, if necessary, fan belts. To prevent airborne dirt from circulating throughout your home, wash out your reusable filter or replace it if it’s disposable.
Doors and Windows

To help control heating costs, make sure your doors and windows are properly sealed. Now is the time to repair or replace weather stripping around door bottoms and jambs and window frames. Check for loose or missing glazing putty and caulking for deterioration. If you have storm windows, install them.
Water Pipes

Frozen or burst pipes can cause major damage to your home and be expensive to remedy. Before frigid weather hits, protect your pipes in unheated areas from freezing by adding insulation, which reduces heat loss from hot-water pipes and condensation on cold water pipes. This can be accomplished by wrapping the pipes with heating tape or blanket insulation and duct tape or by encasing the pipes with preformed plastic foam. In addition, examine your pipes for cracks and leaks.
Fireplace

Before you light the logs and get ready to settle in front of a cozy fire, make sure that your fireplace is in good working order. Clean the chimney flue and, if needed, have it inspected and repaired. Check the seal on your flue, which is designed to keep out drafts. Replace the seal if it is loose or damaged.
If you decide to perform the fall maintenance yourself, disconnect the power for any electrical or gas systems. In addition, before inspecting, cleaning or making any repairs refer to your owner’s manual for all equipment for proper instructions, which should be the final authority on any maintenance.

Outdoor Surfaces and Landscaping

Fall is also a great time to seal your driveways, wood patios and other hardscape surfaces. In addition, prune tree branches away from your home and electrical wires. Plant spring flower bulbs and move sensitive potted plants indoors.
Although this list is merely a guide, it can help you keep your home in good shape and have a winter free of major repairs.

Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

Home Sellers: Five Tips to Make Your Bathroom Stand Out

2011-10-24T05:12:00.000-07:00

Home Sellers: Five Tips to Make Your Bathroom Stand Out

Every homebuyer has a vision of their perfect house and the rooms that are most important to them. Because of their relatively small size in comparison to the rest of a home, bathrooms are often overlooked in the staging process, but for many, it could be the most important room in a buying decision.
A bathroom is more than just a place for grooming; it’s a sanctuary. It’s a place one can relax in a hot bath and escape the stresses of daily life for a few moments at a time.
Updating a tired-looking bathroom is one of the best things you can do to increase a home’s resale value and the fixes are not too costly or labor intensive.
Easy fixes include adding new, luxurious-looking towels, replacing the shower curtain and adding candles around a bathtub. However, with a little more money and effort, your bathroom can become a talking point of the house.
Here is a look at five great ways to upgrade a bathroom.
1. Beautify: By adding decorative glass, stone tile or accents to the bathroom, it will stand out among the other houses in the neighborhood that are for sale. Extra-wide wall tiles are popular these days and wood cabinets can be beautifully embellished with intricately carved wooden inlays.
2. Lighting: Add more lighting options around the room, especially around the vanity to reduce shadows and glaring. This is something that isn’t too expensive and can really highlight the positive features of a bathroom. Mood lighting around the tub area is also increasing in popularity.
3. Bath/Shower: It’s not too often you hear someone complaining about a bathtub being too large, and that’s because there’s nothing better than coming home from a hard day’s work and relaxing in a big soothing tub. By putting in a new tub and creating more of a spa-like atmosphere, you will have buyers imagining themselves washing their cares away. Adding a massage element to the showerhead or one that replicates rain showers is also something that will appeal to buyers.
4. Update Fixtures: Not as costly as some of the other tips, changing out the fixtures in a bathroom can add a great deal. From cabinet handles to faucets, the addition of brushed nickel or other metals that are polished and elegant are always a huge hit. And if space permits, add a second sink.
5. Think Green: The bathroom is a prime place to start putting those environmentally friendly devices to work. Installing fixtures that save water, such as a low-flow showerhead, a low-flow faucet aerator, and a dual-flush toilet, can save thousands of gallons of water each year. Adding energy-efficient windows is another easy option, since the size of bathroom windows are relatively small. Another fix that is both decorative and energy efficient is the addition of natural stone flooring, which helps the bathroom stay cool during the summer, and warmer during the winter.
When buyers walk into a renovated bathroom that exudes quality and offers an intimate, contemporary feel, it’s one of the top things that people will remember about a home.

Prudential Fox & Roach is an independently owned and operated member of The Prudential Real Estate Affiliates, Inc., a Prudential company. Equal Housing Opportunity.
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Selling an Ugly Home

2011-10-12T04:25:00.000-07:00

Selling an Ugly Home

Let’s say that you inherited an old house in a distant location and want to put it on the market. You may not have the time, resources or energy to make it perfect and just want a quick sale.
Or, maybe you had renters at your property who did substantial damage and you don’t have the money to make necessary renovations.
Fear not. Just because the house needs work doesn’t mean you can’t sell it. Many homebuyers today are shopping for deals and want to see the potential in your home. In that case, leave brochures for new cabinets in the kitchen, color palates around the bedrooms and even create computerized images of what updates could look like.
In addition, secure bids from licensed contractors on necessary fixes and provide them to your potential buyers. People may overestimate the cost of a new roof, shower stall or drywall repair and fresh paint. Estimates will bring the home into clearer perspective.
Work with your real estate agent to make the home as presentable as possible for the least amount of money. Make a room or two inviting so you have the photos that will attract buyers to what you can call “a fixer upper.”
Of course, nothing is going to attract people more than a low price. Obviously, you will need to discount the sales price to gain an advantage over comparables in better condition.
A down-and-out house doesn’t mean you’re stuck. With small repairs, research and practical pricing, you can turn that “Ugly Betty” into a sale.

Prudential

TIPS FOR PURCHASING IN A 55 PLUS COMMUNITY

2011-10-04T04:59:00.000-07:00

Buying in a 55+ community will be very similar to buying in any community but there are some differences to be aware of.

Assuming you already know the 55+ community you are interested in, just looking within the community itself, here are some questions to explore when buying a home:

1. Find out about the monthly homeowner's association fee; what does it cover, how much is it and when is it expected to go up. If the community is older, find out if any special assessments are coming up or expected.

2. Get a copy of the homeowner association documents. Before you buy, review the rules of the association. Find out the rule for any areas of special interest to you, like pets, additions like building a patio or fence, visitors, children, leasing your property, etc.

3. Find out about the amenities. Remember in this economy many clubhouses and other amenities that were planned will not get build for some time, if ever.

4. Find out about activities offered. How often, what types, any extra fees?

5. Look at resales, not just brand new properties. Maybe you can get a deal on a resale that has been upgraded substantially. Preview listings with a resale real estate agent and ask questions about the property and the community as well.

6. Talk with the current owners/residents to see how happy they are living in the community and how happy you will be living with them. Are they your age? People love to talk, so ask questions.

7. Find out about the cost of utilities and any related cost of ownership.

8. Find out the cost of any upgrades, which appliances, counter tops, floor coverings, etc come with the property.

9. For newer communities, how strong is the builder and/or developer of the community? Is the community just getting started and right after you buy if goes in to foreclosure, will the community be a ghost town? There is less risk in a community that is further along in its development.

10. Remember buyer's agents also handle 55+ homes.

I hope these questions will help in your search process.

Copyright 55communityguide.com

70 GRANDVIEW DR JUST LISTED...

2011-10-02T08:16:00.000-07:00

70 GRANDVIEW DR

5 Ways To Make Your Home For Sale Stand Out

2011-09-29T04:41:00.000-07:00

With so many homes on the market, it's important to make your home for sale as attractive to potential buyers as possible. Even if your home isn't perfect, following these five guidelines can improve the appeal and value of your home for sale.

1. Clean your home thoroughly and keep it clean!

According to real estate professionals, doing a very thorough deep-cleaning of your home, inside and out, is a great way to make your home appeal to buyers. And just to be clear, by "clean," they don't mean the typical cleaning you might do on a regular basis. Go the extra mile by cleaning every window, every baseboard, cabinets, ceiling fans, etc. Maintain this level of cleanliness until closing, if at all possible. Once you do the majority of the deep cleaning, keeping it clean will be easier as long as you keep up with it regularly. Another option would be to hire a professional cleaning service to do this for you.

2. Have quality, relevant photos on your home's listing.

Since most people browse home listings online first, it is essential to have a good selection of quality photos of your home. Dark or blurry pictures will not do a property justice, and may give the impression that you are trying to hide something. Make sure you or your real estate agent photographs your home's interior AND exterior. Listings that only show one or the other will not make a great online impression. A good rule of thumb is, if there aren't pictures of something, buyers are going to presume it's not worth seeing. Also, it is important to make your photos relevant to what you really want to show off. As nice as your furniture may be, most people don't want to see a photo that makes it the main focus of the picture. Take photos of the entire room, not just one wall or corner.

3. Keep your yard well-maintained.

Curb appeal is a big selling point, especially once a potential buyer visits your home in person. Having a tidy, well-landscaped yard will give your home a nice presentation. If you don't have much or any landscaping in your yard, just do the best you can with what you've got. Spread some fresh mulch around shrubs or flower beds, keep your yard mowed and free of weeds, and invest in a lawn edger if you can. Make sure your yard isn't cluttered by lawn ornaments and decorations. When it comes to presenting a home for sale, less is more. And speaking of clutter...

4. De-clutter your home.

Some real estate agents suggest getting a head start on the packing you'll have to do anyway by going ahead and packing things you won't need for everyday use. You can even rent a storage facility to house any non-essential furniture pieces. Whatever you decide to do, just make sure your home is free of clutter. Don't feel like you have to make your home look like a motel room; a few knickknacks can give your home a "lived in" feel to it. The important thing to remember is not to hide your home's potential. Buyers will want to envision their furniture and their things in your home. This will be much easier for them to do if they aren't distracted by a lot of art on the walls or collections of bric-a-brac.

5. Upgrade, update away!

Take stock of your home's appliances and interior features. Wherever possible, update or upgrade anything that you think is outdated. It will cost money, but not always as much as you think. And remember, whatever you put into your home is an investment and a selling point. This is especially true when it comes to kitchen appliances. If your stove, refrigerator or dishwasher is more than 10 years old - you should seriously consider an update. Many appliances these days are also more energy-efficient, which is something more and more buyers are looking for. In addition to appliances, look at the condition and age of your floors. If you have hardwood, perhaps getting them refinished would be a good idea. If you have old linoleum in your bathrooms, check prices on some new laminate or tile. This principle doesn't just apply to floors and appliances, of course. If you see anything in your home that could use some spiffing up, do it. And you can do it without breaking the bank. Even replacing old carpet with new carpet (even if it isn't top grade) will make a difference.

These are just a few ideas to help your home make a great impression on buyers. Talk to your real estate agent for more ideas, or to get a specific list of things you can do for your property.

Article Alley

Weighing 30 and 15 Year Fixed Rate Mortgages

2011-09-15T11:15:00.000-07:00

Weighing 30- and 15-year Fixed-Rate Mortgages

One important decision homebuyers face is whether to secure a 30-year, fixed-rate mortgage or go for a 15-year one, which carries a lower interest rate.
“All things equal, a 15-year mortgage allows you to pay off your mortgage twice as fast while saving a significant chunk of money on interest,” explains Mark Crosby, a mortgage expert in Wilmington, Del. Still, “I think the 30-year mortgage is a logical choice for most people because it has more advantages.”
For starters, mortgage payments are less expensive with a 30-year mortgage, enabling more consumers to qualify for home purchases. “With a 30-year mortgage you are almost always free to make additional principal payments necessary to pay off your loan [faster] without penalty,” Crosby says. “With the 15-year loan, you are committed to giving that extra money to your lender each month, whether you can really afford to at the time or not.”
Higher payments that come with a 15-year mortgage make little sense if they keep you from building savings or contributing to a 401(k) plan, IRA, and perhaps your kids’ college funds, adds Dan Green, a loan officer with Waterstone Mortgage in Laurel, Md. “You could be needlessly tying up too much of your money into your house.”
Green said another reason people favor a 30-year fixed mortgage is the tax benefit that can be achieved. “This is because the amortization schedule of 30-year fixed is back-heavy, with early-term payments big on interest and light in principal,” he explains. “By contrast, the 15-year fixed is always light on interest which lowers its taxpayer benefits.”
While it’s true you gain more of a tax break from a 30-year loan, it shouldn’t be the main consideration when deciding on a term. The 30-year borrower pays less in yearly taxes because he or she pays significantly more in interest.
Sot it all comes down to choice and circumstances. Choose the 15-year loan if you have the financial wherewithal to assume the payments. Your interest savings will be substantial and you’ll own your home faster. Opt for the 30-year loan for lower payments and greater flexibility. You can always choose to pay more on your mortgage when the money is available.

Prudential Fox & Roach Realtors is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential company. Equal Housing Opportunity.

How to Choose a Neighborhood

2011-09-05T12:22:00.000-07:00

How to Choose a Neighborhood

Narrow your home search by identifying neighborhoods that are right for you.
When evaluating a neighborhood you should investigate local conditions. Depending on your own particular needs and tastes, some of the following factors may be more important considerations than others:

quality of schools
property values
traffic
crime rate
future construction
proximity to schools, employment, hospitals, shops, public transportation, prisons, freeways, airports, beaches, parks, stadiums and cultural activities such as museums, concerts and theaters.
Neighborhood search strategies
If you’re a first time-buyer with limited financial resources, it's wise to buy a home that meets your primary needs in the best neighborhood that fits within your price range. You can maximize your home purchase location by incorporating some of the following strategies into your neighborhood search:
Look for communities that are likely to become "hot neighborhoods" in the coming years. They can often be discovered on the periphery of the most continuously desirable areas. Look for a home in a good neighborhood that is a bit farther out of the city. If commuting is a concern, purchase a home that is close to public transportation.
Look at the neighborhood demand by asking your REALTOR® whether multiple offers are being made, whether the gap between the list price and sale price is decreasing, and whether there is active community involvement. You can also drive around neighborhoods and see how many "sale pending" and "sold" signs there are in a particular area.
Look into purchasing a condominium rather than a house, in a desirable neighborhood. This way you still may be able to purchase in a prime area that you otherwise could not afford.

Copyright © by Move, Inc.

Why Isn't My Home Selling?

2011-08-12T08:44:00.001-07:00

Why Isn't My Home Selling?

Price is the No. 1 culprit

If your answer is price, you’ll be right a good majority of the time. If your home isn’t selling, buyers think the value of your house is less than the price you want.
For all the time and effort that goes into buying and selling, the economics of the process is relatively simple. Anything is only worth what a buyer is willing to pay and a seller willing to accept. This is the same whether it’s a pack of baseball cards or a $1 million house.
Although the economics may be simple, arriving at that magic price is difficult. Just think of the cost, time and energy that companies put into pricing a product so it succeeds in the marketplace. It’s no different in real estate.

If you’ve taken the time to educate yourself on the local market and are diligent in hiring a professional agent, and are willing to listen to her, you can get a lot closer to the magic number. But you are setting yourself up for disaster if you don’t do your homework and go with what you “feel” your house is worth. Worse yet, is interviewing agents and choosing one solely because she says she can get you more than what the other agents think the house will sell for.
These are some of the most common mistakes sellers make when setting a price:

Price based on need
What you want to make from selling your home means absolutely nothing to buyers or the marketplace. So setting a price based on what you want so you can retire, move up, start a business, etc. will almost certainly fail.

Price based on ego
Your neighbor sold for $200,000 last year so you want $210,000 because you “know” your house is better. Regardless that the market dropped five percent since your neighbor sold. Nearly every owner thinks their house is the best on the block, or at least better than any of the ones that have recently sold or are on the market. Unfortunately for sellers, your opinion doesn’t carry any weight with buyers. Only their opinion matters.

Price based on greed
Even if it’s been shown that your house will likely sell for around $250,000, you insist on listing it for $275,000 because “you never know, someone could come along who just has to have it. Besides, if we don’t get any bites we can always lower the price later.” The problem is it won’t take long for buyers to realize your price is unrealistic and think you are, too, and won’t want to deal with you unless the house is “a steal.” The listing languishes, so you drop the price, but not enough, it sits even longer and pretty soon you have a listing that’s been on the market so long buyers decide there is something wrong and steer clear.

The solution is to get the price right. This is done by using what is called a Competitive Market Analysis (CMA). If you’ve hired the right agent, this is the first folder out of their briefcase when you meet to list your home. A CMA breaks down the sales price of homes that are similar to yours in location, size, age and condition.

Your agent will also consider the listing prices of homes on the market, but these are used more to identify the competition. Even with a strong agent and CMA, your price may not be on target. That’s because the market is always changing and your agent should be updating your CMA whenever anything comparable to your property sells.

Not every reason your home isn’t selling will be the price, although they will be related to it. Here we have that value vs. price issue. If buyers perceive imperfections in your listing, they will want a discount, so if they’re not buying, your price is not discounted enough for buyers to believe the value to them at least equals that of your price.

For example, if your lawn is brown and the landscaping worn, buyers will want a discount. The problem is that a seller will not consider this a major issue and attach a much lower discount than a buyer will accept.

This is why it is imperative that sellers do everything they can to eliminate any issues buyers may have with their house before listing. Obviously, you can’t do anything about a bad location, such as being near railroad tracks, or that you have just one bathroom. But you and your agent should have factored these drawbacks into the listing price.

Here are some of the most common reasons buyers are turned off by a particular house, so make sure these are addressed before lopping thousands of dollars off the asking price:

Put on a good show
This is the second biggest reason a home isn’t selling. Buyers often talk of “connecting” to a house. This is not likely to happen if your house is not company-coming-over clean and ready to show like a model. This goes for the outside as well. If you don’t want to put the effort into doing this, then you’d better adjust your price to compensate because buyers will only consider your house because it’s a good deal, not because it “speaks to them.”

Can’t buy what they can’t see
If you make it difficult for people to see your property, then chances of a sale at the price you want drops considerably. Selling can be a nuisance, but it’s a necessary one. If you don’t allow a lockbox or require appointment-only showings, you are the culprit to the house not selling.

Out of your hands
It’s not always the seller’s fault that a house isn’t selling. Sometimes the market changes and buyers disappear. Maybe a new home development has opened nearby and they are “stealing” the customers. Or maybe you’ve received bad advice from your agent. Any of these can affect whether your house sells, which means you need to consider the reasons and make the necessary adjustments.

Great article by...
Copyright © by Move, Inc. By Diana Lundin

The 203K Mortgage

2011-08-02T04:07:00.000-07:00

The 203k Mortgage

Real estate consumers today can find ample value in distressed homes – properties that are under a foreclosure order or up for short sale. In many cases, however, “distressed” speaks more for the condition of the homes than their recent financial histories, as they’ve sat empty for extended periods and have been subject to vandalism and theft.
Those considering homes in need of repair and renovation should consider a 203k mortgage, which enables homebuyers to finance both the acquisition and rehabilitation of the property with just one loan.
“FHA 203k purchase loans are the perfect financing vehicle for homeowners seeking the value proposition offered by REO homes,” said David Wind, president and board chairman of White Plains, N.Y.-based Guaranteed Home Mortgage Company, in a company statement this June. “Home buyers’ ‘perfect’ home can be purchased in less than perfect condition with a single-close loan product that allows repairs and remodeling.”
There are two types of 203k loans: the 203k streamline and the full 203k. The 203k streamline is the most popular among homebuyers and lenders.
“The maximum allowable in repairs is $35,000 under the 203k streamline and it does not allow any structural repairs to be done to the home, unless [the repairs are] a result of an unforeseen circumstance,” explained David Krushinsky, a certified mortgage planning specialist for Mesa, Ariz.-based AmeriFirst Financial Inc. “The full 203k allows structural repairs and will allow the buyer to exceed the $35,000 in home repairs. Both loans allow up to $1,500 in swimming pool repairs.”
Contractors chosen to perform repairs must be licensed, bonded and insured, and they usually must provide the lender with a resume and two client-reference letters.
“After the close of escrow is when all the rehabilitation work begins,” said Krushinsky. “Funds usually aren’t released immediately so it’s important for your contractor to start work in a timely manner. Typically, if they’ve been in business, they have existing relationships with vendors so they can order materials and begin work. If not, the project may take longer than anticipated.”
Since the 203k mortgage is based on the home’s potential value after repairs -- not its existing value -- you can be approved for a higher loan amount. The mortgages also carry long-term-fixed rates, are insured as soon as they fund, and include escrow accounts for the scheduled repairs.
Loan amounts are capped according to local FHA limits. Only owner-occupied properties of one to four units qualify for 203k mortage financing; homes also must be at least one year old.

Prudential Fox & Roach Realtors is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential company. Equal Housing Opportunity.

AVOID FORECLOSURE WITH A SHORT SALE

2011-07-25T03:44:00.000-07:00

A short sale is one of the common alternatives used to avoid a foreclosure. It can be an advantage to a homeowner facing foreclosure and who desires to avoid having a foreclosure on a credit record. Short sales are exactly what the term sounds like. When a home is sold for less than what is owed on it the difference between the amount the home sells for and the mortgage loan amount on the home is called a short sale. Thus, if a home's mortgage amount is $400,000 but is sold in a short sale for $200,000 the amount short is $200,000.Getting approval from a lender involves a process of filling out certain documentation and submitting it to the bank or lender's loss mitigation department for consideration and approval of the short sale. It is the bank that has the final say over whether the short sale is approved rather than the homeowner who is selling the property.

The first decision that should be made by a homeowner considering a short sale is whether a short sale is the best solution? If the homeowner simply wants to walk away from the home a deed in lieu of foreclosure may work better. The homeowner simply deeds the property back to the bank. In many cases the bank, in return for a deed in lieu of foreclosure, will pay the homeowner money called "cash for keys". This process allows the bank to avoid substantial fees and costs that would be involved in a foreclosure and provides the homeowner with money that can be used to assist with moving expenses or to begin to rebuild a financial standing. Follow the guidelines below in order to obtain the best results, if a short sale is determined to be the best solution in resolving a foreclosure problem.

1.GET THE BANK OR LENDER'S SHORT SALE PACKAGE.This can be done by simply going to the lender's website and finding it's criteria for submitting a short sale package. Download the package and fill it out. If the homeowner will be represented by a real estate agent, this function and the rest of the steps in this article will generally be handled by the real estate agent. If the homeowner chooses representation by a real estate agent, the homeowner should ensure that the agent is experienced in handling short sales.

2.SHORT SALE DOCUMENTATION.The short sale package should contain at minimum an authorization to release information authorizing the real estate agent to represent and speak on behalf of the homeowner; a completed financial statement, copies of the homeowner's last two years tax returns; the most recent two months bank deposit statements and a hardship letter written by the homeowner that clearly and accurately explains the homeowners' hardship circumstances that justify an approval for a short sale.Without hardship circumstances justifying a hardship it is unlikely the lender will be motivated to approve a short sale. The bank also generally requires the homeowner to submit an IRS Form 4506T which permits the bank to obtain copies of past tax returns. These documents generally make up the short sale package. Some banks or lenders may require additional documents in which case they should simply be provided.

3. MAKE THE SHORT SALE PACKAGE ATTRACTIVE FOR MAXIMUM RESULTS!Presentation of the short sale package is an important step. Appearance and perception of the package is crucial. The package should be submitted with a cover letter requesting short sale consideration with a table of contents and tabs separating the various documents. This presents a professional appearance and is helpful to the negotiator assigned to review the package and to determine whether to recommend approval or declination of the short sale.Take care to make the negotiator's job as easy as possible and not have to search for information within the package. Tabulation serves this purpose well and will be appreciated by the negotiator.Although not always required, it is also a good idea to wait until there is a bona fide offer from a qualified buyer before submitting the short sale package. The offer should also be accompanied with a HUD-1 statement also. A HUD-1 statement will show the bank what it can likely expect to receive as a final amount resulting in a short sale.An experienced real estate agent will know what to do in submitting these documents. If the homeowner chooses to handle it personally, help should be sought directly from an escrow company or closing agent who will usually be glad to assist in preparation of the HUD-1 in return for the fees in closing or handling the escrow.

4.ESTABLISHING AND MAINTAINING RAPPORT WITH THE SHORT SALE NEGOTIATOR.Once the short sale package is submitted to the bank's loss mitigation department a negotiator will be assigned. It is important to establish a good relationship with this person because the success or failure of the short sale rides on an approval recommendation from the negotiator.Be courteous and professional at all times and provide additional documentation when requested so long as it is reasonable and it makes sense. Most negotiators are professional and courteous and will be helpful when they perceive the same from the homeowner's side.

5.CLOSING THE DEAL AND WALKING AWAY.If all goes well the short sale will be approved. The homeowner will be able to walk away without a foreclosure on the record and to commence rebuilding a favorable financial record.

copyright article alley

REALTOR® Magazine-Daily News-Fastest Way to Sell a Home? Underprice By 10%

2011-07-11T05:25:00.000-07:00

REALTOR® Magazine-Daily News-Fastest Way to Sell a Home? Underprice By 10%

FIVE TIPS FOR A GREEN HOME

2011-07-02T06:18:00.000-07:00

Five Tips for a Green Home

Eco-friendly. Carbon footprint. Global warming. Energy-efficient. These catch phrases have become part of our lexicon as we’ve become more aware of our impact on the environment and our role in protecting it. As a homeowner, there are some simple, inexpensive steps you can take to make your home energy-efficient. Get started on the road to being “green” with these five tips:

Change Your Light Bulbs
By replacing just five incandescent light bulbs with compact fluorescent (CFL) bulbs, you can save $100 per year on electric bills while using up to 75 percent less energy and removing greenhouse gases from the environment.

Buy ENERGY STAR® Appliances
ENERGY STAR-qualified appliances, such as refrigerators, washers and air conditioners, meet a higher level of energy efficiency set by the Environmental Protection Agency and U.S. Department of Energy than standard models. According to ENERGY STAR, if just one in 10 homes used ENERGY STAR-qualified appliances, the impact could be compared to planting 1.7 million new acres of trees. And, switching to these appliances is not only good for the environment, but easy on your pocketbook. Although these appliances may costs more, you can reduce your energy bill by $80 per year.

Seal Up
Cracks and air leaks represent cash seeping from your doors and windows. Get rid of air leaks in doors, windows and other areas by caulking gaps and cracks. This will help decrease your heating and air conditioning bill. But make sure you use silicone sealants. Acrylic caulk tends to shrink, while silicone sealants are waterproof and won’t shrink or crack, creating less waste.

Use Less Water
Did you know that roughly 60 percent of a home's water consumption takes place in the bathroom, according to the California Urban Water Conservation Council? The largest culprit is the toilet, which accounts for 27 percent of your household supply every year. By installing low-flow toilets, showerheads and faucets, you can save thousands of gallons of water each year. In addition, replace leaky fixtures. That slow-dripping faucet can waste as much as 2,400 gallons of water per year.

Adjust the Thermostat
When adjusting your home’s thermostat, the rule of thumb should be: turn up the dial in the summer and down in the winter. Lowering the temperature by just one degree will reduce your electrical costs. And if you use a programmable thermostat, you can program your air-conditioning and heating systems to reduce output while no one is at home or at night while you sleep. Ceiling fans are also helpful in circulating the air to keep the room cool in the summer and warm in the winter.

Going green doesn’t have to be overwhelming or costly. By making just a few small changes within your home, you can help decrease energy consumption and help make the world a “greener” place.

Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

Mortgage Points: To Pay or not to Pay?

2011-06-14T16:18:00.001-07:00

Mortgage Points: To Pay or Not to Pay

If William Shakespeare financed a home today he’d probably ask on the subject of mortgage points: “To pay or not to pay? That is the question.”
Homebuyers direct the same question to their real estate agents. Here are some perspectives:

In its simplest definition, a point is an additional loan fee that is paid to the lender in exchange for a lower interest rate. It’s called “buying down,” and it allows you to reduce your rate for the life of the loan.

Let’s say you secured a mortgage loan for $500,000 without points, at 4.6% on a 30-year mortgage, your payment would be approximately $2,560 a month. If you paid two points ($10,000), the interest rate in this example would go down to 4.1% and the monthly payment would decrease to around $2,415, a savings of $145 a month.

In this scenario, it would take you about eight years to recoup the money you paid up front, so if you are planning on staying in your home a while, this will save you money in the long-run.

Home buyers must answer some key questions to determine if paying points is a wise decision. Specifically:

• How long will you keep the home?
• Do you have extra money to pay points?
• Could that money be better used for something else?

Money managers may suggest that a smarter option is to invest that $10,000 because you could do much better than your $140 savings, but you have to weigh the variables.

“Paying points depends on your career, your interests and all the things that predict your future,” said financial advisor Thomas Watkins of Total Mortgage Services in Milford, Conn. “Points are paid up front while your savings will be spread out into the future. Therefore, you get more benefit if you own your home longer, or if you don’t refinance for a long time.”

The rule of thumb when it comes to points is simple: If you plan to stay in the house for less than three years, do not pay points. If you plan to stay in the house for more than five years, pay 1 to 2 points. If you’ll be in the house for three to five years, paying points doesn’t make a significant difference.

Another important aspect to consider: Since points are interest-payment related, they are fully deductible on your taxes in the year that you close. See your tax advisor for details.

Mortgage points can add up to valuable savings over the course of your loan, but the future isn’t always predictable. Even if you “plan” on staying in your home for
20 years, changes in your career or family life could alter the plan.

Prudential Fox & Roach Realtors is an independently owned and operated member of Prudential Real Estate Affiliates, Inc.

Work with A Realtor When Purchasing in an Active Adult Community

2011-06-03T05:24:00.001-07:00

Most prospective buyers do not know the answer to this and we need to get the word out to retired folks that are in the market. Finding the perfect retirement community is a process and the more knowledge you have the better your experience will be.

It is my experience, most prospective buyers are not aware of their options to work with a Realtor when purchasing a new home in an active adult community. They assume they have to work directly with a new home consultant who works for the builder. The new home consultant is going to get the highest price and best terms for the builder.

It is in the best interest for the buyer to work with an independent Realtor instead of dealing directly with the builder without an agent. An experienced agent knows the area and is able to keep up with the builder’s and their competitor's latest incentives. They are familiar with the purchase agreements and can help you understand what you are signing. Also, they can represent you if you are an out of town buyer and help you through the process. There is no out of pocket expense for the prospective buyer because the builder pays the commissions.

If you are in the market for new construction it is something that would be wise to consider.

Realty Times - Mortgage Rates Today: Low Mortgage Rates Remain in Holding Pattern

2011-06-01T02:17:00.000-07:00

Realty Times - Mortgage Rates Today: Low Mortgage Rates Remain in Holding Pattern

Lawn Care

2011-05-27T05:45:00.000-07:00

Great article on Lawn Care.....

Spring is in the air and that means that homebuyers are going to be paying just as much attention to the exterior of a home than the interior. Those shopping for a home want to envision their kids playing in the yard, their friends coming over for barbeques and the lazy Sunday afternoon laying on the lawn.
While people are inclined to bring in flowers, paint the deck and work on the curb appeal, often the lawn itself is neglected. The positives of a well-maintained grass yard are many and it’s important to get your grass in tip-top shape before showing your home.
When it comes to growing grass, consistent care is key and failure to invest in long-term turf care can open the window to any number of problems in your lawn.
It’s also important to give your grass the fertilizing lawn care and control treatments it needs based on the season. Lawn care for growing grass as we enter May has different needs than what is expected in late summer and fall.
The way you mow your lawn can either make growing grass easier or harder. In the spring, you need to keep the grass high. You never want to remove more than one third of the total blade height when mowing, or you could chop off the food-producing parts of the grass blade and end up with a brown lawn instead of a green one.
You should also leave grass clippings on the lawn to help recycle important lawn fertilizing nutrients.
Lawn care experts share that growing green plants is the best thing you can do to clean the air and grass is considered to be better than most other plants or trees at removing carbon and other impurities from the atmosphere. Through the process of photosynthesis, grass takes carbon from the air and stores it in the ground.
“A grass lawn enriches the soil by providing a home for beneficial micro-organisms and insects that eat nature’s leftovers—decomposing grass clippings, plant leaves and other vegetation—and recycle nutrients back into the soil,” said Michael McDermott, a lawn care expert in Larchmont, N.Y. “It also pollinates plants and serves as food for other animals, making grass an important part of nature’s cycle.”
An important component of growing grass is to properly water it, and it is better to water deeply (down to a depth of 6 inches) and less frequently, than lightly and more often. If your lawn dulls in color or begins to wilt, then your lawn needs water. Make sure to sweep any fertilizer that lands on driveways and sidewalks back on to the lawn.
Grass also acts like a natural air conditioner that cools the air as it releases water vapor through its blades. The water evaporates and draws heat, cooling the air in the process. As a result, lawns are a safer surface for children to play on and provide the cool comfort we desire on hot days. Those are selling points that can help any home sale.

Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential company. Equal Housing Opportunity.

Home Sellers: A Deck May Make the Difference

2011-05-10T03:56:00.000-07:00

Home Sellers: A Deck May Make the Difference

With spring in the air, the exterior of a home becomes even more important when putting your house on the market because buyers now will spend more time outside looking at your property and envisioning what their summer barbeques and family playtime will look like.
The addition of any amount of usable real estate to a property increases value. Customized decks and personalized outdoor living areas are a hot trend in home improvement upgrades, and a great-looking deck may entice more people to come see your home.
Building or updating an existing deck isn’t simply a great investment; it also provides opportunities to personalize your backyard and customize the look to your taste. And with many families staying home this summer to save money, why not think about creating the perfect location for entertaining?
Deck experts agree that multi-level decks are the most popular now. These are a series of decks connected by stairways or walkways, which are aesthetically pleasing and can be used for different purposes. One level can be used to catch the sun, one level can be positioned for shade and another can be set close to the house for entertaining and barbequing.
Wood decks have always been the most popular, but caring for them is tough. They will rot over time, are subject to insect infestation and require a great deal of maintenance to keep the wood from fading. Accordingly, people are embracing composite materials for their decks, which cost significantly more but will last longer with less maintenance.
For those homes that already have a deck, it’s important to make sure that it’s still in good shape and adds to the attractiveness of a property. You can change your deck’s appearance with interesting balusters to match other decorative accents on your house or in your yard and really add unique touches to make the deck a personal haven. Meanwhile, railings offer a good opportunity to pull in color and ornamental detail that complements the house.
By designing your deck with accents, lights and unique accessories, you can transform your backyard into an outdoor retreat one will never want to leave. Whether you’re catching up with friends over a grilled dinner in the evening or are curled up with a book in a lounge chair on a sunny afternoon, a deck is the perfect place to be.

Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential company. Equal Housing Opportunity.

HORSHAM COLONIAL FOR SALE IN THE SQUIRES COMMUNITY! GREAT OPPORTUNITY!

2011-04-30T11:44:00.000-07:00

I just found a property and wanted to share it with you!

Floor the Competition

2011-04-27T04:11:00.001-07:00

When people enter your home they usually look down before up, so that first step is vital for attracting a homebuyer and making a great first impression. This is one reason why more people are installing hardwood floors in their homes.

Hardwood flooring enhances the look of any room and can create a classic ambiance that will beautify the interior design of your home. Residential real estate agents agree that homes with wood floors hold their value better, sell faster and fetch higher prices.

Last year, 99 percent of real estate agents responding to a national survey conducted by the National Wood Flooring Association agreed that homes with hardwood floors are easier to sell. The survey also found that 82 percent believe that homes with hardwood floors sell faster and 90 percent said they would sell for more money.

The American Hardwood Information Center adds that restoring hardwood flooring in the home is one of the best long-term investments to be made.

“Hardwood floors are environmentally friendly, forever fashionable, and will last for generations,” said Pembroke Jacobs, president of the Hardwood Manufacturers Association. “Plus, with an expected life span of up to 100 years for certain premium hardwood flooring, you can be assured that that the hardwood really is a one-time investment with a very long-term payoff.”

Real estate agents also agree that carpeting does not impress potential buyers, but hardwood floors are always a draw. Engineered wood floors impart warmth, depth and richness to a home’s decor that cannot be matched by carpeting, tile or vinyl flooring.
Despite the existence of modern architectural trends in flooring, hardwood can still compete with floor tiles and other artificial materials. It comes in a variety of colors and grains; light, medium, or dark shades; and a variety of sizes, styles, finishes and species.

Maple, mahogany and oak are the most popular woods, but some homeowners are investing in exotics such as Brazilian cherry and purpleheart.

The Environmental Protection Agency has said that indoor air quality is one of the top health threats and wood floors can help contribute to a healthy living environment. In fact, a recent EPA study found that pesticides used in gardens and homes accumulate on floors and other surfaces in the home, but that wood floors greatly reduce the accumulation of such toxins. Hardwood floors also do not trap or harbor dust mites or molds.

Though wood floors will probably need to be refinished at some point, when properly taken care of they are much easier to maintain than other floor surfaces.

The NWFA recommends regular sweeping of hardwood floors with a soft-bristle broom or dust mop to remove surface dirt and debris. If your floor contains beveled edges, it recommends using a vacuum with a soft bristle brush attachment to remove dirt and debris from between the floorboards.

Having hardwood floors could be the difference between selling your home or watching a potential buyer walk out the door on a less-appealing type of flooring.

Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc.

10 Ways to Protect Your Family From Fires

2011-04-17T09:04:00.000-07:00

10 Ways to Protect Your Family From Fires
According to the National Fire Protection Association (NFPA):

In 2009 there were 1,348,500 fires reported in the U.S., resulting in over 3,000 deaths, 17,050 injuries and property damage of $12.5 billion. One home fire was reported every 87 seconds. Households can expect to average a home fire every 15 years, or five fires in an average lifetime.

Pretty sobering statistics, which suggest it’s just a question of time before the average household is faced with the task of dealing with fire. The good news is that fire deaths have slowly declined over the past decade, due in large part to greater fire prevention awareness. In case of fire, the difference between death and survival is often simple preparedness and practice.

Here then are 10 ways to protect your family from fires:

Fire Prevention Equipment

Install smoke detectors on every floor, place one outside each sleep area.
Check smoke detector batteries every 6 months, at the same time you’re re-setting your clocks for daylight savings.
Another option is hard-wired smoke detectors. The advantage of these is that you will hear the alarm throughout the house regardless of which individual unit detects smoke or fire.
Purchase several ABC- class fire extinguishers for various locations such as the kitchen, utility room, hallway, and garage.
Train each family member in their proper operation, and when to use them.
Residential fire sprinkler systems have become very affordable, and can enhance the market value of your home considerably. Check out some other advantages at FEMA.
Fire Escape Planning

Draw an escape plan for your home.
Discuss with each family member where the escape routes are.
Identify two exits for every room in your home.
Practice fire escapes, in daylight and at night, at least twice a year.
Establish a meeting place near the home for the family to gather after evacuating.
Have the phone numbers for emergency personnel and nearby contacts programmed into your home and cell phones. Make sure every family member knows who to call, and how to call them.

Home Heating Precautions

Have chimneys and wood stoves inspected and cleaned at least once a year.
Wood stoves should be installed near walls made of fire-resistant material.
Fireplaces equipped with glass doors should burn with doors open to avoid creosote buildup in chimney. Close doors when fire is out.
Stack firewood away from house.
Space heaters should be placed away from all objects, and have a tip-over shut-off switch.
Kitchen Safety

Never leave cooking unattended. This is the leading cause of fires in the kitchen.
Keep flammable items like oven mitts and potholders away from the stove top.
Avoid wearing clothing that can come into contact with cooking surfaces (long sleeves, loose-fitting clothes).
Never use metal objects or aluminum foil in microwave ovens.
If fire erupts in your microwave oven, unplug it and leave the door closed.
Stay Plugged-in (Electrical Issues)

Discard extension cords or electrical devices which have frayed or damaged wiring or plugs.
Install safety covers over electrical outlets in households with small children.
Never bypass or remove the grounding terminal on three-prong plugs.
Be aware of the maximum current rating for each circuit in your home; never exceed their limits.
Do not run electrical cords in traffic areas or under rugs.
Smoking Savvy

If you must smoke, take it outside.
Use ashtrays that are sturdy and deep-sided.
Consider switching to fire-safe cigarettes, which are made with paper that burns slower.
Try using ashtrays or buckets filled with sand to ensure those butts are extinguished, and
Make sure they are before emptying those trays.
Put Your Worries to Bed

Keep bedroom doors closed at night. In the event of fire, they offer protection and help limit the spread of fire.
Check that electric blanket for faulty wiring. Make sure it’s UL-approved.
Pre-2007 mattresses should be replaced with newer ones meeting the 2007 Federal Mattress Flammability Standard.
Candles in the Wind

Never leave burning candles unattended.
Candles should be placed in sturdy, non-flammable holders and positioned where they won’t be easily knocked over.
Keep matches out of children’s reach.
Keep candles away from drapes, which can blow into the flame or knock the candle over.
Car Care

Check vehicles regularly for fluid leaks or faulty wiring.
Examine exhaust system for excessive smoke plumes or leaks.
Avoid smoking in vehicles.
Keep a fire extinguisher in each of your vehicles.
Stormy Weather

Unplug electrical appliances during a storm.
Turn off air-conditioners.
Stay off corded phones.
Ensure outdoor antennae, electrical lines are properly grounded.
As you can see, fire prevention is 90% common sense. Preparedness, the other 10%, is really nothing more than putting that common sense into practice. Knowing what causes fires, or even how to prevent them, is a good start; but the difference between knowing and putting that knowledge to work, could be the difference between surviving and becoming another statistic.

FREE SHREDDING EVENT

2011-04-04T16:54:00.000-07:00

SHREDDING EVENT

Shred all those old documents that have been accumulating quickly and dispose of sensitive papers safely - while you watch!

APRIL 16, 2011 10am-12pm

Prudential Fox and Roach Realtors
1600 North Bethlehem Pike Suite 100
Lower Gwynedd, PA 19002

Why Isn't My Home Selling

2011-03-30T03:39:00.001-07:00

Why Isn't My Home Selling? Price is the No. 1 culprit If your answer is price, you’ll be right a good majority of the time. If your home isn’t selling, buyers think the value of your house is less than the price you want.For all the time and effort that goes into buying and selling, the economics of the process is relatively simple. Anything is only worth what a buyer is willing to pay and a seller willing to accept. This is the same whether it’s a pack of baseball cards or a $1 million house.Although the economics may be simple, arriving at that magic price is difficult. Just think of the cost, time and energy that companies put into pricing a product so it succeeds in the marketplace. It’s no different in real estate.If you’ve taken the time to educate yourself on the local market and are diligent in hiring a professional agent, and are willing to listen to her, you can get a lot closer to the magic number. But you are setting yourself up for disaster if you don’t do your homework and go with what you “feel” your house is worth. Worse yet, is interviewing agents and choosing one solely because she says she can get you more than what the other agents think the house will sell for.These are some of the most common mistakes sellers make when setting a price: Price based on need What you want to make from selling your home means absolutely nothing to buyers or the marketplace. So setting a price based on what you want so you can retire, move up, start a business, etc. will almost certainly fail. Price based on ego Your neighbor sold for $200,000 last year so you want $210,000 because you “know” your house is better. Regardless that the market dropped five percent since your neighbor sold. Nearly every owner thinks their house is the best on the block, or at least better than any of the ones that have recently sold or are on the market. Unfortunately for sellers, your opinion doesn’t carry any weight with buyers. Only their opinion matters. Price based on greed Even if it’s been shown that your house will likely sell for around $250,000, you insist on listing it for $275,000 because “you never know, someone could come along who just has to have it. Besides, if we don’t get any bites we can always lower the price later.” The problem is it won’t take long for buyers to realize your price is unrealistic and think you are, too, and won’t want to deal with you unless the house is “a steal.” The listing languishes, so you drop the price, but not enough, it sits even longer and pretty soon you have a listing that’s been on the market so long buyers decide there is something wrong and steer clear. The solution is to get the price right. This is done by using what is called a Competitive Market Analysis (CMA). If you’ve hired the right agent, this is the first folder out of their briefcase when you meet to list your home. A CMA breaks down the sales price of homes that are similar to yours in location, size, age and condition.Your agent will also consider the listing prices of homes on the market, but these are used more to identify the competition. Even with a strong agent and CMA, your price may not be on target. That’s because the market is always changing and your agent should be updating your CMA whenever anything comparable to your property sells.Not every reason your home isn’t selling will be the price, although they will be related to it. Here we have that value vs. price issue. If buyers perceive imperfections in your listing, they will want a discount, so if they’re not buying, your price is not discounted enough for buyers to believe the value to them at least equals that of your price.For example, if your lawn is brown and the landscaping worn, buyers will want a discount. The problem is that a seller will not consider this a major issue and attach a much lower discount than a buyer will accept.This is why it is imperative that sellers do everything they can to eliminate any issues buyers may have with their house before listing. Obviously, you can’t do anything about a bad location, such as being near railroad tracks, or that you have just one bathroom. But you and your agent should have factored these drawbacks into the listing price. Here are some of the most common reasons buyers are turned off by a particular house, so make sure these are addressed before lopping thousands of dollars off the asking price: Put on a good showThis is the second biggest reason a home isn’t selling. Buyers often talk of “connecting” to a house. This is not likely to happen if your house is not company-coming-over clean and ready to show like a model. This goes for the outside as well. If you don’t want to put the effort into doing this, then you’d better adjust your price to compensate because buyers will only consider your house because it’s a good deal, not because it “speaks to them.”Can’t buy what they can’t seeIf you make it difficult for people to see your property, then chances of a sale at the price you want drops considerably. Selling can be a nuisance, but it’s a necessary one. If you don’t allow a lockbox or require appointment-only showings, you are the culprit to the house not selling. Out of your handsIt’s not always the seller’s fault that a house isn’t selling. Sometimes the market changes and buyers disappear. Maybe a new home development has opened nearby and they are “stealing” the customers. Or maybe you’ve received bad advice from your agent. Any of these can affect whether your house sells, which means you need to consider the reasons and make the necessary adjustments. Great article by...Copyright © by Move, Inc. By Diana Lundin Posted by Joanne Genesio - PA REALTOR

Getting Ready to Sell? ... Freshen Up the Inside

2011-03-23T05:17:00.000-07:00

Getting Ready to Sell? ... Freshen Up the Inside

A prospective buyer’s willingness to buy more quickly – and at a higher price – is often driven by emotion. A home that shows exceptionally well helps arouse the prospective buyer’s emotional desires for that home. First impressions count. That’s why you’ll see neat, clean homes getting snatched up while others just sit there on the market. Buyers will buy the perceived value of the property, the image and feeling that they get from experiencing the property. As it’s often been said: buyers buy on emotion. The emotions that you, the Seller, are trying to stimulate are triggered by sensory experiences. Aim for the senses - especially touch, smell, and sight. Uncluttered, clean, fresh-smelling homes sell faster and for higher prices. Try to clear your mind of any preconceived notions, then walk into your house, close the door, look around… and truly feel your house. Then consider these steps:

Organize and de-clutter! Remove clutter from countertops, desks, and garage. Remove excess furniture. Organize closets, drawers, storage areas. Throw away, sell or store excess! Rent a storage unit if necessary. Clutter makes the home appear smaller and masks the home’s good points.Freshen interior paint as needed. Again, fresh paint is the best bang for the buck. Light, neutral colors such as beige, white, or off-white have a broader appeal and can make small rooms seem larger and airier. Remove ‘tired’ or busy wallpaper. Brighten drab garage interiors, storage areas with fresh paint. Paint/stain woodwork as necessary.Make kitchen and bathrooms sparkle. Clean/oil cabinets, clean appliances/fixtures. Add fragrances. New color-coordinated towels are an excellent investment. Fresh looking kitchen and bathrooms will often make or break a sale.Clean floors and carpeting. Add carpet freshener to carpeting which is ‘tired’ or to eliminate smoking or pet odors. Make minor repairs. Tighten loose knobs, fix leaky faucets, lubricate squeaky hinges, replace filters, tighten loose banisters, repair doors and doorknobs, remove stains, and make sure your doorbell works. Make sure all lighting fixtures work. Add new bulbs with the highest wattage allowed to make your rooms seem brighter. Light, airy homes seem bigger and more inviting. It’s well worth the extra cost. Is the fireplace in good working order? Remove ashes from the fireplace and add fresh logs. Buy fresh, colorful indoor flowers or plants. They get a lot of mileage, and they will enhance your new home as well. Exterminate, one bug, dead or alive, will make a bad impression on prospective buyers. Hire a professional to sell your home, it is a process, not a single event. Getting your home ready to sell is part of that process. As you prepare to put your home on the market, make sure to pay close attention to how your home is prepared to show – it can make all the difference in the world and will help you stand out from the crowd.

Article Alley

Why work with a Realtor for an Active Adult Community

2011-03-09T06:26:00.000-08:00

Real Estate For Sale in Willow Grove Upper Moreland Twp PA, Joanne Genesio Prudential Fox & Roach REALTORS

2011-03-08T14:52:00.000-08:00

Real Estate For Sale in Willow Grove PA, Joanne Genesio Prudential Fox & Roach REALTORS

Good Faith Estimate Vs HUD-1

2011-03-04T06:20:00.001-08:00

Good Faith Estimate Vs HUD-1

There are a couple of documents you will hear about when you are buying a home. One is the Good Faith Estimate and the other is the HUD-1 Settlement Statement. Aren't they the same thing you may ask? No they are not, although they are used for figuring the closing costs on the home you are about to buy. Let me explain the difference between these two documents.

The Good Faith Estimate
Very simply, the good faith estimate (also know as the GFE) is a list of estimated items and their fees to close on the mortgage. You use this to compare apples to apples in deciding which lender you want to go with. Once again it is just an estimate of the closing costs associated with the mortgage. You are to be given this estimate within three days of completing the loan application.
Now to compare apples to apples you will need another document. This document is called the Truth in Lending Disclosure Statement (TIL). This document discloses all the costs associated with making and closing the loan. This document is also to be given to you within three days of the loan application.

With both these documents you can now compare lenders to find the best deal for you.

The HUD-1 Settlement Statement
This is a form listing the FINAL settlement of those closing costs you will need to pay to close on your mortgage and buy that home you are looking forward to.
You should get a copy of this form a day prior to closing to inspect according to the Real Estate Settlement Procedures Act (RESPA). Now you can compare this final document with the estimate document and the TIL document. This gives you the opportunity to question your lender or broker about any differences you may find.
No one is perfect so errors do happen. That is why you want to look at this document closely. If you have any questions, ask the closing agent to explain the item to you. Unfortunately, you don't have a lot of time before the closing to do this. So ask away and be persistent to be sure your final settlement statement is accurate.

What items are on a HUD-1
You will find items like the commissions paid to the real estate agencies, your home closing costs, those items required by the lender, title charges, recording fees, the gross sale price of the home and the total amount due the lender to name just a few.
You will also see a section that lists the items paid outside of closing (POC). These particular fees can include what are sometimes called "junk fees." Take a close look at these charges to be sure they match what you agreed to on the Good Faith Estimate. Many times this is where you might find those "unnecessary" fees. Be sure you understand these.
Conclusion
Although both the Good Faith Estimate and the HUD-1 Settlement Statement are similar, their purposes are very different. Remember, one is an estimate of those fees you will need to pay to close on your loan and the other is a list of the actual final fees you must settle close on your mortgage.

Article Alley

Dresher, Upper Dublin Montgomery County PA Homes For Sale

2011-03-01T02:57:00.000-08:00

Dresher, Upper Dublin Montgomery County PA Homes For Sale

http://bit.ly/g8u487

Short Sale Homes: Things You Need to Keep In Mind When Buying

2011-02-20T05:21:00.001-08:00

Now is a great time to purchase short sale properties. This is because of the abundance of properties whose values are less than the value owed to the lender. However, it is not that easy to buy a short sale. You will need to think of various considerations when buying such property. An advantage of a short sale is that the seller is motivated to sell the property. This means that you have the upper hand during the negotiation process. Although this is the case, you will still need to be careful when making an offer. Another benefit is that there are several short sale properties to choose from. This means that most of the properties are in good shape because sellers want to attract buyers. And since there are fewer buyers, you have the luxury of choosing the property that works for you. But what is short sale in the first place and why are these properties cheap? Short sale happens when a lender accepts a discounted payment for the mortgage. This usually happens when the balance of the mortgage exceeds the value of the property. However, the steps taken are not simple. The buyer making an offer will not be able to close the deal right away. It is true that a short sale is a waiting game. You will need patient if you want to be able to acquire the property. If your first offer was rejected, you can make a higher offer and wait for the decision of the lender.

Here are some tips to help make the short sale purchase easier.

Work with an experienced agent. It is essential that you work with a realtor who has handled short sale purchases before. This way, he can assist you better and can help you make favorable decisions. He will be able to have access to listed short sale properties as well. Moreover, he can negotiate with the seller and facilitate the immediate approval of the short sale application.

Find the right home or investment property. If you are looking for a property, where you can move into right away, and then rethink the purchase of a short sale property. As mentioned earlier, it is unlike that you will be able to close it in a month. In addition to that, making an offer will not guarantee that you will be able to purchase the property. This is because the lender may still reject it.

Make a good offer. This is crucial in owning the short sold property. If you have a good offer, the lender may approve it and you will be able to close the deal. But what is a good offer? The best thing to do is to have the property appraised. This will help you identify the real value of the property. Your offer does not have to match the appraised value. However, it would greatly help ensure the approval of the short sale. If the lender agrees to the offer you made, you will be able to purchase the property and close the deal.

North Wales, Montgomery County Pa. New Construction Pulte Townhomes

2011-02-20T05:14:00.000-08:00

North Wales, Montgomery County Pa. New Construction Pulte Townhomes

I just found a property and wanted to share it with you!

5 Tips for First Time Home Sellers

2011-02-11T03:51:00.000-08:00

5 Tips for First Time Home Sellers

Selling your home can be a seamless, smooth and successful transaction – but only if you have the right information to help you make it through the real estate maze. This is particularly important for first time home sellers, who certainly can’t afford to “experiment” with selling their house; because the consequences of any mistakes can cost thousands, or more likely tens of thousands of dollars.

However, generally speaking there are 5 solid tips that first time home sellers should know:

1. Have a customized plan. If there’s one thing that all first time home sellers must have – but not all of them do – it’s a customized plan. Each market is different. And within markets, there are sub-markets that are categorized into neighbourhoods, or types of homes, or proximity to amenities (e.g. malls, hospitals, schools, etc.), and more. It’s vital to work with your Realtor and create your unique plan. Even if you know someone who “was in the same boat as you and sold their house without any problem,” I can assure you that there are key details that will differ.

2. Stage your house. There was a time when simply cleaning your house was enough to make it attractive and compelling for buyers – those times have changed. Now, home staging is essential to not merely attracting the right kinds of buyers, but influencing them to make an offer that will make you happy. Staging goes far beyond merely cleaning. It looks at your house “though a buyer’s eyes” and proactively beautifies anything that may detract from your home’s overall appeal. As an experienced Realtor, I can always immediately tell the difference between a staged home and one that’s just merely clean. And guess what? Buyers can tell the difference, too!

3. Make any major repairs. Home staging is about cosmetic (how things look) improvements, but if there’s something that needs to be fixed – like, say, a big hole in the roof or the gutters are about the fly off – then you certainly want to repair those before you start showing your home. This not only helps attract favourable offers, but it prevents potential buyers from having contingencies in their offer (e.g. the seller must repair A, B and C by a certain date, and it must pass an inspection, or else the offer is null and void).

4. Be competitive. The real estate market is competitive. The price that your next door neighbour sells his or her house for will influence the value of your home. And the same goes for a comparable house in your neighbourhood, or even for a comparable house on the other side of the city. It’s important to work with a Realtor who will scope out the competition and give your home an edge.

5. Work with a Realtor. Your home is your biggest asset. Just as you wouldn’t perform surgery on yourself, you shouldn’t try and “go it alone” or, often just as mistakenly, choose a low-cost or discount option. When you’re talking about an asset that is worth hundreds of thousands of dollars, spending a few thousand dollars on the services of a Realtor more than pays for itself. You’ll get the peace of mind you need, plus you’ll access a variety of services that will help your home sell for top dollar. Obviously, there are more tips out there – and as noted above, your unique situation and plan will determine the selling strategies that work best for you. However, the 5 tips above are the essentials that you should always keep on-hand and ready to help you experience a smooth, stress-free and successful first time home sale.

Article Alley
Chris Proctor

Home Sellers: Five Tips to Make Your Bathroom Stand Out

2011-02-05T08:00:00.000-08:00

1. Beautify:

By adding decorative glass, stone tile or accents to the bathroom, it will stand out among the other houses in the neighborhood that are for sale. Extra-wide wall tiles are popular these days and wood cabinets can be beautifully embellished with intricately carved wooden inlays.

2. Lighting:

Add more lighting options around the room, especially around the vanity to reduce shadows and glaring. This is something that isn’t too expensive and can really highlight the positive features of a bathroom. Mood lighting around the tub area is also increasing in popularity.

3. Bath/Shower:

It’s not too often you hear someone complaining about a bathtub being too large, and that’s because there’s nothing better than coming home from a hard day’s work and relaxing in a big soothing tub. By putting in a new tub and creating more of a spa-like atmosphere, you will have buyers imagining themselves washing their cares away. Adding a massage element to the showerhead or one that replicates rain showers is also something that will appeal to buyers.

4. Update Fixtures:

Not as costly as some of the other tips, changing out the fixtures in a bathroom can add a great deal. From cabinet handles to faucets, the addition of brushed nickel or other metals that are polished and elegant are always a huge hit. And if space permits, add a second sink.

5. Think Green:

The bathroom is a prime place to start putting those environmentally friendly devices to work. Installing fixtures that save water, such as a low-flow showerhead, a low-flow faucet aerator, and a dual-flush toilet, can save thousands of gallons of water each year. Adding energy-efficient windows is another easy option, since the size of bathroom windows are relatively small. Another fix that is both decorative and energy efficient is the addition of natural stone flooring, which helps keep cool in during the summer, and heats the bathroom longer during the winter. When buyers walk into a renovated bathroom that exudes quality and offers an intimate, contemporary feel, it’s one of the top things that people will remember about a home.

Prudential Fox & Roach Realtors is an independently owned and operated member of Prudential Real Estate Affiliates, Inc.

Short Sales, Reos Or Motivated Sellers, Which Is More Profitable?

2011-02-02T06:28:00.001-08:00

Short Sales, Reos Or Motivated Sellers, Which Is More Profitable?

In a market full of mortgages going into default, a lot of real estate investors are never sure which way to go to get the best deals.

Do you get foreclosed REOs from the bank? Should you negotiate short sales to buy the houses for less than the mortgage balance? Or should you buy directly from the motivated sellers?
We will analyze these 3 situations here.

These 3 methods all have their pros and cons; let's analyze each one:

1) Buying foreclosed houses from banks - REOs Banks have too many foreclosed properties and they increase in number every day. As soon as they acquire them, they then try to sell them quickly.
Buyers are few and these properties can take a long time to sell.
Banks can therefore offer great discounts, especially if they need to be fixed up.
As a real estate investor, shop carefully for good REO deals because not all them will meet your buying criteria or equity margin for you to make a profit.

2) Short Sales Banks foreclose on homes when home owners are unable to pay. Before they foreclose, they are often willing to take less than the mortgage balance. This is called a short sale.
A bank will order an appraisal to get the true market value of the property. Then they can give you a discount on the mortgage based on their numbers.
A bank that holds a first mortgage is likely to offer very little discount on the mortgage, usually not more than 20% especially if it does not need major repairs.
A bank that holds a second mortgage can lose 100% of their investment in a foreclosure, so they are more willing to negotiate much lower. It is not unusual to get 80-90% discount on a second mortgage.
A property with more than one mortgage is therefore the best candidate for a short sale.
Short sales can also take a long time, usually 3 to 6 months. You must therefore have enough patience and capital to last you through such long waiting periods.
Banks can reject your short sale application even when all numbers look good. You must therefore be ready for rejection.
You must close fast as soon as you get an approval. Banks will not accept creative financing on short sales.
When all is said and done, you can create a lot of equity and profits as long as you select the right deals, have patience to wait for a long time, can take rejection and you can close fast.

3) Motivated sellers You can employ a wide variety of techniques to buy houses from motivated sellers.
This includes creative financing.

This is always a great way to buy investment houses as long as the sellers are in need of selling their houses.

Article Alley

Author: Kahethu

Tips for Buying a Home in a 55 plus Community.

2011-01-24T07:56:00.000-08:00

SHOULD YOU MOVE OR REMODEL?

2011-01-16T08:40:00.000-08:00

Should You Move or Remodel?
By: Dona DeZube

When your house no longer suits you, you can move or remodel. Find out which big change is the right investment of your housing dollars.
Just about everything else—remodeling costs, the hassle of living in a construction zone, or the ability to live happily without one more bathroom--is a personal preference. After all, your home isn’t just your largest investment; it’s also the place where your family lives.
1. Will remodeling make your home better than everyone else’s?
To make the right move-or-remodel decision, you have to know:
Your home’s value. Easy. Just ask a REALTOR® to estimate it and tell you how it compares with the value of the other homes in your immediate neighborhood. Ask her what she thinks your house will be worth after the improvements, too.
Your neighbors’ home value. Hit some open houses. Seeing the inside of area homes will inspire you; help you make good choices about finishes, room sizes, and how much to spend; and, admit it, entertain you.
Your remodeling costs. Once you’ve got your renovation vision, get a quote from a home improvement contractor or, if you’re remodeling it yourself, tally the costs of the items on your supplies shopping list.
Then add the remodeling costs to the value of your home. If the number you get is more than 10% above the average value of homes in your neighborhood, you’re over-improving and probably won’t be able to sell for what you put into the remodel.Here’s why: No one wants to buy the most expensive home on the block (your home) if they can spend the same money to get a similar home on a block of higher-priced homes. Would you pay $200,000 to live on a block where all the other homes are valued at $100,000? We hope not.Make home improvements that are typical for the neighborhood. Don’t put granite countertops in a trailer, and don’t put laminate countertops in a Trump Tower condo. Your tour of open houses gives you a chance to verify that your planned remodel isn’t an over- or under-improvement for the neighborhood.
2. Do you love where you live?
Want to keep your kids in the same school district, but can’t find or afford a bigger, better house? Love the neighbors? Have an easy commute to work? Stay put. If you’ve soured on the traffic, the neighborhood’s crime rate, or the nosy neighbors, move on.
3. Do you have room to expand?
If your remodeling plans include increasing the overall size of your home, the size of your lot may be the deciding factor in whether to move or remodel. If you live in a 1,500 sq. ft. ranch on a 3,000 sq. ft. lot, you might be able to add a second story to turn it into a 3,000 sq. ft. two-story, but you’re not likely to add 1,500 sq. ft. at ground level. And if you have a septic tank and well, the location of those will limit how and where you add onto your home (or cost you a bundle to move).
4. Can you afford to move?
Consider these moving costs: sale costs for your existing home, shipping your household goods, buying window treatments and possibly furniture for the new house, costs to fix up your existing home before sale, higher utility costs (if your next house is bigger), insurance cost differences, and property taxes.

More from HouseLogic
Q&A: Author Sarah Susanka Talks Budget-Smart Remodeling Should You Move or Improve?
Other web resources
Find your local remodelers Average project cost
Dona DeZube, HouseLogic’s news editor

Home Sellers: Cut to the Chase in Home Repairs and Enhancements

2011-01-07T05:33:00.001-08:00

2011 opens as a strong buyer’s market so home sellers must be on their toes to give their homes maximum appeal. Not only should sellers complete the home repairs they know must be made, they should also hire a certified home inspector to thoroughly and impartially evaluate their properties. If this inspection results in a fix-it list, review the list with your real estate professional to establish necessities and priorities. Depending on your budget and objectives, you may want to repair only items that could cause significant deterioration to your property, such as a leaky roof. Ideally, the closer you can get your home to “move-in-ready” status, the more likely you are to attract today’s cautious and discerning buyers. Among the most common repairs and enhancements yielding immediate buyer appeal include:
Paint inside and outside in neutral colors
Steam clean or replace carpets
Polish or replace hardwood floors
Clean or re-grout kitchen and bathrooms
Replace light fixtures
Change light bulbs throughout and replace wall-switch covers
Repair dripping faucets
Fix sticking door
Repair broken fencing
Home sellers wanting to do more should consider the findings of Remodeling magazine’s 2010-’11 Cost vs. Value Report, released in December 2010. The survey used input from REALTORS in 80 cities to rank home remodeling projects according to those that bring the greatest cost recovered at sale. Many of the top projects focus on exterior replacements, as replacements are generally less expensive than other types of projects and they add all-important curb appeal – essential for today’s competitive market or any other. The Top Five projects in the Cost vs. Value Report include:

No. 1 – Entry door replacement (steel)

No. 2 – Garage door replacement (four-section door, reuse existing motorized opener)

No. 3 – Siding replacement (fiber-cement siding)

No. 4 – Kitchen remodel (minor: new cabinet doors, drawers and hardware, plus new energy-efficient appliances, flooring, counters, sink and faucet)

No. 5 – Deck addition (wood)

When the dust clears and projects are complete, be sure that you and your real estate professional document your repairs and enhancements, and share the report with prospective buyers. Walk prospects through the enhancements and include their costs. A home in good condition demonstrates pride of ownership. Taking the time to make enhancements helps ensure your home is presented in its best-possible light, primed for sale.

2010-2011 Costs Vs. Value: Home & Design: REALTOR Magazine

2011-01-04T11:18:00.000-08:00

2010-2011 Costs Vs. Value: Home & Design: REALTOR Magazine

FIRST TIME HOMEBUYERS FACE THE OPPORTUNITY OF A LIFETIME!!!!

2010-12-16T08:32:00.000-08:00

First-Time Homebuyers Face the Opportunity of a Lifetime

Today’s first-time homebuyers are presented with the opportunity of a lifetime. Mortgage rates in early December stood near lows last seen during the Truman administration while home prices were well off their peaks of previous years. The combination made housing affordability, as measured by the National Association of REALTORS®, the highest since NAR® launched its Affordability Index in 1973. Housing inventory is also abundant in many markets, enabling first-timers to secure good homes and pave the way to their financial futures. Indeed, homes and their long-term virtues of shelter, wealth-building and personal and civic pride are available at bargain-basement prices that won’t, or can’t, last.
Naturally, first-timers have many questions about home buying, starting with costs. With research and the services of a licensed real estate professional, these consumers can demystify the process and place themselves on the fast track to homeownership.
Knowledge is power – Nine out of every 10 home searches today begin on the Internet. With just a few mouse clicks, you can peruse neighborhoods, search countless online listings and take virtual tours packed with detailed photographs. The process gives you working knowledge of home availability and pricing in your local markets so by the time you sit down with your real estate sales professional you’re well on your way.
Also visit informative websites such as www.ginniemae.gov, www.realtor.com and prudential.com, and check the local newspaper for homebuyer seminars.
Affordability – Costs involved in the purchase of a home – mortgage, down payment and closing expenditures – can be overwhelming to first-time homebuyers. By looking at your income and debt ratio, your real estate professional can help you calculate how much you can afford each month in mortgage payments. But before determining your price range, you should also take into consideration other factors that will affect your monthly budget once you are a homeowner, such as property taxes, insurance, utilities and maintenance. And if your down payment is less than 20 percent of the cost of the home, you will be responsible for private mortgage insurance.
Mortgage payment – In today’s buyers market, you may face competition for your dream home. To establish your spending limit and gain the ability to move quickly on a home, get pre-approved for a loan before you start looking. The fact that your loan has already been approved is of great value to the seller because it shortens the purchase process, and there is less of a chance that the buyer will back out of the sale. This process will also help you identify any credit challenges you must address prior to your purchase.
If you don’t have a specific mortgage lender in mind, ask your sales professional for a recommendation.
Down payment – The down payment amount varies depending on the value of the home you choose and your mortgage lender. First-time homebuyers may also qualify for down-payment assistance programs and grants available through their states and municipalities. Contact your state housing finance authority, county housing and community development office for an application.
Closing costs must be factored in as well. These include origination fees charged by the lender, title and settlement fees, taxes and prepaid items such as homeowners insurance or homeowner association fees. All told, buyers should spend no more than 28% of their income on housing costs, according to Fannie Mae. Your real estate professional will be able to explain your options.
Making offers – Make sure you visit several different homes to get a feel for the marketplace. Visit the ones you like again to see things you might have missed. Work with your real estate professional to get all of your questions answered before making an offer. And remember there are no silly questions. Make sure you understand and are comfortable with every aspect of the transaction.
Indeed, home ownership remains a sound financial decision for most and a key component of long-term financial planning. First-time buyers who seek homes for all the right reasons – a place to raise a family, build for the future and face life’s opportunities and challenges – can secure their dreams and build for their futures at some of the most attractive values in years.

Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial

BEAUTIFUL HORSHAM COLONIAL

2010-12-16T08:31:00.000-08:00

Great opportunity to live in a desireable community in Horsham. Rare offering!

I just found a property and wanted to share it with you!

AVOID FORECLOSURE WITH A SHORT SALE

2010-12-03T03:00:00.000-08:00

1.GET THE BANK OR LENDER'S SHORT SALE PACKAGE.This can be done by simply going to the lender's website and finding it's criteria for submitting a short sale package. Download the package and fill it out. If the homeowner will be represented by a real estate agent, this function and the rest of the steps in this article will generally be handled by the real estate agent. If the homeowner chooses representation by a real estate agent, the homeowner should ensure that the agent is experienced in handling short sales.

2.SHORT SALE DOCUMENTATION.The short sale package should contain at minimum an authorization to release information authorizing the real estate agent to represent and speak on behalf of the homeowner; a completed financial statement, copies of the homeowner's last two years tax returns; the most recent two months bank deposit statements and a hardship letter written by the homeowner that clearly and accurately explains the homeowners' hardship circumstances that justify an approval for a short sale.Without hardship circumstances justifying a hardship it is unlikely the lender will be motivated to approve a short sale. The bank also generally requires the homeowner to submit an IRS Form 4506T which permits the bank to obtain copies of past tax returns. These documents generally make up the short sale package. Some banks or lenders may require additional documents in which case they should simply be provided.

3. MAKE THE SHORT SALE PACKAGE ATTRACTIVE FOR MAXIMUM RESULTS!Presentation of the short sale package is an important step. Appearance and perception of the package is crucial. The package should be submitted with a cover letter requesting short sale consideration with a table of contents and tabs separating the various documents. This presents a professional appearance and is helpful to the negotiator assigned to review the package and to determine whether to recommend approval or declination of the short sale.Take care to make the negotiator's job as easy as possible and not have to search for information within the package. Tabulation serves this purpose well and will be appreciated by the negotiator.Although not always required, it is also a good idea to wait until there is a bona fide offer from a qualified buyer before submitting the short sale package. The offer should also be accompanied with a HUD-1 statement also. A HUD-1 statement will show the bank what it can likely expect to receive as a final amount resulting in a short sale.An experienced real estate agent will know what to do in submitting these documents. If the homeowner chooses to handle it personally, help should be sought directly from an escrow company or closing agent who will usually be glad to assist in preparation of the HUD-1 in return for the fees in closing or handling the escrow.

4.ESTABLISHING AND MAINTAINING RAPPORT WITH THE SHORT SALE NEGOTIATOR.Once the short sale package is submitted to the bank's loss mitigation department a negotiator will be assigned. It is important to establish a good relationship with this person because the success or failure of the short sale rides on an approval recommendation from the negotiator.Be courteous and professional at all times and provide additional documentation when requested so long as it is reasonable and it makes sense. Most negotiators are professional and courteous and will be helpful when they perceive the same from the homeowner's side.

5.CLOSING THE DEAL AND WALKING AWAY.If all goes well the short sale will be approved. The homeowner will be able to walk away without a foreclosure on the record and to commence rebuilding a favorable financial record.

I just found a property and wanted to share it with you!

2010-12-02T15:45:00.000-08:00

Harleysville Colonial....

I just found a property and wanted to share it with you!

SHORT SALES EXPLAINED...

2010-12-01T17:32:00.000-08:00

What is a short sale and why do homeowners prefer it? A short sale happens when the mortgage is more than the value of the property itself. This could be because the value of the properties in the area where the property is located has decline. It could also be because of the condition of the property. Many property owners apply for a short sale because they want to avoid foreclosure. Through this, they can pay off the mortgage and star anew. Before a short sale can take place, the lender has to approve the package presented by the homeowner first. The package presented has to be complete. It should have a hardship letter. This letter will explain to the lender why the homeowner could no longer make his payments. This could be because of unemployment, divorce or death in the family. In addition to that, you will be asked to present an offer from a buyer as well. Ask your lender about the other requirements you need to present. The lender has the right to approve or reject the proposal because he will definitely lose if he agrees to this. However, this maybe a better option for him rather than foreclosing the property. It is not easy to get your lender’s approval. This shy you should be ready. All your requirements have to be complete. Moreover, you should be familiar with your documents so that you can defend your package and explain it thoroughly to your mitigating officer.One of the major reasons why your lender would reject your short sale package is when the value offered is way lower than the value of the property. If this happens, the lender will send a broker to check the property. The broker will determine the value of the property and will recommend it to the lender. If the value is higher than the offer made by the buyer, your short sale package will be rejected. However, you can prevent this. Just make sure that the offer to your property is reasonable. Be there when the broker arrives and walk him through your property. You can also present to him images and documents of the repairs made in your property.If the lender rejects your package, do not be disheartened and try to qualify again. Get a better offer for your home. You can ask your current buyer or you can look for another buyer who will be willing to make a better offer for your property.If you are the buyer, make sure that you make a good offer. See to it that you consider several factors before you make an offer. Check the property as well as the location. Of course, you will offer a discounted value since it is a short sale but be careful not to make a very low offer.Many turn to short sale to prevent foreclosure. However, getting an approval from the lender is not easy. You have to make sure that your requirements are complete and that the offer made is reasonable.

article alley

Winter Is Approaching.......Is Your Home Ready...

2010-11-15T08:41:00.000-08:00

Autumn winds blow a chilly reminder that winter is fast approaching. Perform the following maintenance tips each fall to protect your property's value and prevent major repairs.

Roof, Gutters and Downspouts Rain, ice, snow and wind can all cause damage to your roof and gutters. Now’s the time to trim back all tree limbs and vegetation away from the roof. You also should remove debris, such as leaves and sticks from your gutters and downspouts. Clogged gutters don’t allow water to properly drain away from the home, which can cause seepage in your ceilings and walls. You can also invest in gutter guards, a screen that prevents debris from entering the gutter and directs the flow of water away from the house and into the ground.

Water Heater You don’t want to find out that your water heater isn’t operating properly when you need it most. So use this time to perform an annual inspection, which includes having your tank’s pressure and temperature relief valve checked. In addition, remove sediment from the bottom of the tank by draining two gallons of water to improve heat transfer and the efficiency of your heater.

Heating and Cooling System If you have a forced warm-air heating system, you should check the exhaust vent and air shutter openings for dirt and dust. Clean any lint and dirt from the blower blades, motor and burner (if you have a gas heater). Vacuum air passages and check and replace, if necessary, fan belts. To prevent airborne dirt from circulating throughout your home, wash out your reusable filter or replace it if it’s disposable. Doors and Windows To help control heating costs, make sure your doors and windows are properly sealed. Now is the time to repair or replace weather stripping around door bottoms and jambs and window frames. Check for loose or missing glazing putty and caulking for deterioration. If you have storm windows, install them.

Water Pipes Frozen or burst pipes can cause major damage to your home and be expensive to remedy. Before frigid weather hits, protect your pipes in unheated areas from freezing by adding insulation, which reduces heat loss from hot-water pipes and condensation on cold water pipes. This can be accomplished by wrapping the pipes with heating tape or blanket insulation and duct tape or by encasing the pipes with preformed plastic foam. In addition, examine your pipes for cracks and leaks.

Fireplace Before you light the logs and get ready to settle in front of a cozy fire, make sure that your fireplace is in good working order. Clean the chimney flue and, if needed, have it inspected and repaired. Check the seal on your flue, which is designed to keep out drafts. Replace the seal if it is loose or damaged.
If you decide to perform the fall maintenance yourself, disconnect the power for any electrical or gas systems. In addition, before inspecting, cleaning or making any repairs refer to your owner’s manual for all equipment for proper instructions, which should be the final authority on any maintenance.

Outdoor Surfaces and Landscaping Fall is also a great time to seal your driveways, wood patios and other hardscape surfaces. In addition, prune tree branches away from your home and electrical wires. Plant spring flower bulbs and move sensitive potted plants indoors.

Although this list is merely a guide, it can help you keep your home in good shape and have a winter free of major repairs.

Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company.

A Consumer's Guide To Selling or Buying A Home In PA

2010-11-04T01:52:00.000-07:00

Buying or selling a home can be intimidating, even if you've done it before. That's why we recommend using a real estate professional -- a REALTOR® -- to guide you through the process. Even if you elect not to use a REALTOR® and strike out on your own, the more informed you are as a real estate seller or buyer the more pleasant your experience is likely to be. The Pennsylvania Association of REALTORS® (PAR) publishes a number of forms that are designed to help guide the consumer (and your REALTOR®) through the steps of the home buying/selling process.

Legal Stuff
Please keep in mind that this document is only meant to familiarize you with some of the basic elements of a real estate transaction. In no way is it meant to present a comprehensive explanation of all the various laws, regulations and business practices involved in buying or selling a home -- there may be certain things that are not discussed at all, and the explanations that are given are often simplified. Further, this document is not intended to provide legal advice to consumers, and it should not be relied on in place of seeking professional advice from a REALTOR® and/or attorney if you are unsure of any of the terms or concepts involved, or if you have questions about any aspect of the process. Obtaining the services of a REALTOR® and a real estate attorney are always encouraged.

Agency and Business Relationships
Whether you are buying or selling a home, it is important understand what relationships exist -- or can exist -- between you and a real estate professional. Even if you have chosen to go it alone (i.e., buy or sell without the help of a REALTOR®), chances of escaping this experience are pretty slim. Here's why: every real estate licensee that you meet during the course of your transaction (open houses, listing appointments, phone calls to brokerages, etc.) is under a legal obligation to explain to you the various business relationships you can have with him or her -- even if you do not wish to work with them at all. This explanation will come by way of a written Consumer Notice if the meeting is in person, or via an Oral Consumer Notice if it's by telephone. By law, the Notice must be given before you start discussing your real estate needs and, in effect, puts you on notice not to mention anything that might hurt your negotiating position until you know who the real estate licensee works for. The written Notice must be delivered to you at the first personal meeting where a discussion of your needs takes place OR, if the original Notice was given orally, at the first face to face meeting. You'll have to sign the Notice so the real estate licensee has proof that it was presented to you.
Your options for working with the real estate licensee will be limited by two things: whether he or she is already working with the "other side" in the transaction, and the internal policies of the broker that the licensee works for. The full slate of possible relationships are: buyer agency, seller agency, dual agency, designated agency, and transaction licensee.

The Paper Parade: Agency/Employment Contracts
Once you have read the Consumer Notice and have made a decision to work with a REALTOR®, you will be required to reduce your relationship with him or her to writing.
If you are a seller, this will be in the form of a listing contract, where you define your relationship with the REALTOR® and outline the terms under which he or she will market your property, including the fee to be paid to the broker. As a seller, you also are required under Pennsylvania law to fill out a Seller's Property Disclosure Statement. This Statement must be delivered to all prospective buyers before an offer is made.
If you are a buyer, the form you sign will depend on the relationship you choose to create with the REALTOR®. A very common form used for this purpose is the Business Relationship Between Broker and Buyer. This form deals with three types of business relationships. First, if the REALTOR® is already working with the Seller, or as a subagent of the Seller, this form gives you an opportunity to acknowledge Seller Agency, and provides important notices on the back. You will encounter this most often if you are not opting to work with a REALTOR® during your buying process.
Second, if you choose to work with a REALTOR® as a Transaction Licensee, this form allows you to create that relationship; again, the notices on the back come into play.
Finally, if you choose Buyer Agency, an Exclusive Buyer Agency Contract is contained in the form, allowing you to create a relationship with a REALTOR® who will look out for your interests through the entire process of searching for and buying a home. You also have the option to create a Non-Exclusive Buyer Agency relationship, in which you are obligated to work with the broker only if you end up buying a property that he or she showed to you, but not if you purchase a property shown by another broker. You should discuss with your REALTOR® what he or she offers, and what will work best for you.

Dual Agency
As you might expect, there will be occasions when a buyer and seller, represented by the same broker, enter into a transaction together. When this occurs, the broker, having duties to both the buyer and the seller, takes on the role of a dual agent. Most brokers have policies that allow them to serve as both seller and buyer agents in the same transaction. Brokers whose practices include dual agency may designate separate agents to represent the separate interests of the buyer and seller. The designated agent for the seller will continue to act as a seller's agent, advocating on behalf of the seller; similarly, the designated buyer agent will work to serve the buyer in that transaction. As a buyer or seller, you have the right to choose the designated agent with whom you will work. When the same designated agent represents the seller and buyer in the same transaction, he/she will be a dual agent.
Fees
Whether you are buying or selling, you'll probably want to know how your REALTOR® is being compensated. Most fees are usually paid by a seller, and the PAR listing contract contains a provision setting the fees for your broker as either a flat fee or a percentage of the sale price. Most listing brokers have policies under which they will pay a portion of their fee to another broker who brings a buyer to the property; this is also covered in the listing contract.
If you choose to sell your property yourself and are approached by a broker who represents a possible buyer you will probably be asked to fill out a Broker Fee Agreement stating that you will pay a certain fee to the buyer's broker only if his or her client ends up purchasing the property.
Buyers are frequently charged with a "transaction" or "conveyancing" fee by the selling broker (the office working with the buyer). These fees generally are charged in connection with the many miscellaneous services provided to the buyer such as coordinating inspections, assisting with the loan application and placement for the order of title insurance etc. Like any fee imposed by a real estate licensee, it is payable only when it has been agreed to in writing. This rule holds true for sellers as well: no fee can be charged unless you agree to it in writing.

The Paper Parade: Committing to Buy or Sell
Offers to purchase real estate must be in writing and generally are submitted to sellers via an Agreement of Sale. Before you get to that point, though, there are a few more forms you might encounter.
All sellers and buyers must receive their estimated closing costs before an Agreement of Sale is signed. Buyers whose deposit is being transferred to another broker (a common practice when the agent taking your check is not the listing broker) must be informed of the transfer generally via a Deposit Money Notice. The buyer also must have received a Seller's Property Disclosure Statement. The buyer and seller have a chance to acknowledge receipt of these and other forms that may be required as they fill out an Agreement of Sale.
Until a written offer is received and accepted (all terms agreed to and acknowledged by signature or initials by both parties), the property is still "on the market." That means that if a second offer is received from another buyer before the first offer is "signed, sealed, and delivered," the seller could very well accept that second offer. The seller is not under an obligation to review offers in the order in which they are received, so if more than one offer comes in during the window of time that seller has for approval, offers can be compared. Sellers should consult their REALTOR® and attorney for guidance if they are receiving multiple offers.
Buyers can put a little pressure on the seller to accept or reject an offer quickly. When an offer is made, the buyer stipulates in the Agreement of Sale how long the seller has to review it. In a competitive situation, the buyer may consider keeping that period short. The buyer's REALTOR® can help determine an advisable time-frame by taking market conditions, desirability of neighborhood, and other factors into account.
All offers and counteroffers should contain a time period for acceptance. If the time period passes with no action, the offer (or counteroffer) dies.
More information is available to potential buyers about the Agreement of Sale in a booklet titled "The Buyer's Guide to the Agreement of Sale." The booklet should be available through your REALTOR® or your local association of REALTORS®.

Inspections, Contingencies, etc.
Buyers can make their offers contingent on the property passing certain inspections. The PAR Agreement of Sale contains pre-printed inspection contingencies for the property in general, for wood boring insect (termite) infestation, for radon, for lead-based paint hazards, for the water service, and for the sewage system. Notices regarding these inspections, and giving other useful information, are found on the backs of most pages of this form. Some of these Notices are required by law, so both the seller and buyer should read them.
Buyers and sellers should be aware that if the property was built before 1978, a federal law regarding lead-paint hazards applies. The seller must disclose any knowledge of lead paint, and the buyer has the right to inspect and/or assess the property for lead. A pamphlet titled "Protect Your Family from Lead in Your Home" must be given to the buyer of pre-1978 properties.
The Agreement of Sale also contains other non-inspection contingencies that may affect the sale of the property. For example, there is a Mortgage Contingency which gives one or both parties the option to cancel the agreement if the buyer is unable to get financing for the purchase. There are also several frequently requested contingencies the most common of which makes the purchase contingent upon the buyer being able to sell his or her current home that can be added to the contract by filling out one of the many available addenda. If you have special conditions that need to be met to make you comfortable with the sale or purchase of a home, talk to your REALTOR® about setting up special contingencies to cover those conditions. Keep in mind that you cannot enforce a promise if it has not been written into the Agreement of Sale, an Addendum (written "add-on" to the Agreement), or an Amendment to the Agreement (usually written sometime after the original Agreement).

When the Offer is Accepted
If you are using a REALTOR®, he or she will assist with the scheduling of any agreed upon inspections and will work with you in meeting the requirements imposed upon you as a buyer or seller. During this time, a title search will be performed to make sure there are no "clouds on the title" (meaning there are no legal impediments to the seller providing the marketable title that buyers and their lenders usually require).
Most buyers have an opportunity for a pre-settlement "walk-through" of the property, where they make sure everything is there that should be there, and where they have an opportunity to check that required repairs were made, etc. It's important that buyers take advantage of this opportunity, so that any outstanding issues can be dealt with properly at settlement. It is also important to remember that the property was bought "as is," or in the condition it was when the Agreement of Sale was executed. Improvements that were not specifically spelled out in the agreement will not have occurred, and normal wear and tear from the time of the agreement to settlement are acceptable.
Settlement
When all contingencies have been fulfilled, title searches completed, and monies secured, settlement can occur. Settlement, or closing, is when the property actually changes hands and the title, or deed, is transferred. In most transactions, sellers are required to be out of the property by settlement and the property is to be in "broom-clean condition." Occasionally, with advanced planning and by special arrangement, sellers may remain in the property after settlement, or buyers may move into the property prior to settlement. When these special circumstances occur, arrangements are made for the payment of security deposits and the payment of appropriate sums in exchange for the privilege of having possession before or after settlement. The Pennsylvania Association of REALTORS® has a form to accommodate those times when the seller will remain in the property after settlement, or to allow the buyer to move in early or to at least gain access to the property to store materials or to prepare it for the buyer's move.

If Something Doesn't Work Out
As a seller, if you find yourself in a Listing Contract with a real estate agent who is just not doing the job you expected, what are your options? Your first act should be to call the broker and or office manager and discuss your dissatisfaction. The broker is responsible for the actions of salespeople in the office and may be able to offer some solutions. If discussions with the broker or manager are unsuccessful, you make seek to be released from the Listing Contract. This requires the agreement of the broker. Some brokers offer a period of time where the seller can walk away from the contract; others will charge the seller a fee for costs incurred marketing the property. Because it is a service contract, you do have the option of canceling the contract, without the broker's consent, but it may not be without some cost to you. If a broker believes that the cancellation was unjust, he/she may seek a legal remedy. And remember, if a buyer who was introduced to the property during the term of the broker's Listing Contract ends up buying the property, you may be liable for the broker's fee.
If you are a buyer in a buyer agency contract with a real estate agent whose style is not suited to your personality, or if you are dissatisfied for some other reasons, you should first call the broker or office manager to give him or her the opportunity to fix the situation. If that doesn't resolve the problem, you may terminate your buyer agency contract. Whether the broker has any remedy will depend upon the reasons for your terminating the Agreement. Remember, though, if you buy a property that you looked at with the agent (or, if you signed an exclusive buyer agency agreement and you buy a property that you looked at during the term of your buyer agency contract), the agent will still be entitled to the agreed upon compensation.
If the buyer or seller has a problem with the other party in the transaction there are always several options available to resolve the problems (informal agreement, mediation, court proceedings, etc.). Near the end of the Agreement of Sale is a contract term giving the buyer and seller the option to mediate any disputes they may have over the transaction instead of taking them directly to court. There is an in-depth Notice explaining this option on the back of the last page of the agreement, but you should discuss with your REALTOR® and/or attorney if you wish to elect this option. You should look upon mediation as a service offered by the local association of REALTORS® as a benefit to the buyer and seller. Though it is the rare occasion when a transaction ends up in a dispute, having the dispute resolved quickly, inexpensively, and out of the courtroom is to everyone's advantage. The mediation system has been working for nearly a decade in Pennsylvania with a high percentage of the cases having been amicably resolved quickly and inexpensively.
As for your relationship with the real estate professionals involved in a transaction, it's important to remember that licensees using the term REALTOR® belong to the NATIONAL ASSOCIATION OF REALTORS® and subscribe to a Code of Ethics that holds their behavior to a higher standard than Pennsylvania law requires of them.

Source: Pennsylvania Association of REALTORS

When the Perfect Home and Price Pop Up.......

2010-10-14T04:05:00.001-07:00

Make Your Offer Stand Out

Real estate consumers are realizing that there has rarely been a better time to buy a home. In fact, historically low mortgage rates coupled with lower home prices have even sparked bidding competition in markets around the country.
A good home in a solid location may attract ample attention only hours after being listed. Home buyers can make their offers stand out from the rest through one or more of the following strategies:

Price. Obviously, price tends to be the primary consideration for sellers. When you’re competing for a home, to get an edge, think about adding a clause stating that you will beat the highest offer by “x” dollars up to “x” amount. Cash offers can be more attractive to sellers as well. Although sellers will receive their money at closing whether buyers pay with cash or take out a loan, cash offers don’t require lender approval.

Financing. It’s not enough to be pre-qualified. Pre-qualification only tells how much you can afford. Pre-approval goes a step further. Your lender will thoroughly evaluate your application—including verifying employment information and financial disposition—then clear you for a loan of a determined amount. Having your loan pre-approved gives you a sizeable advantage by putting you on equal footing with cash buyers.

Good Faith Deposit. Buyers offering a larger-than-customary amount of “earnest money,” a deposit that accompanies an offer, may get a seller’s attention. By committing more money up front, buyers demonstrate greater sincerity and motivation to close the transaction. Your real estate professional can guide you as to the appropriate sum for your specific transaction.

Contingencies. Consider minimizing contingencies, those clauses that allow buyers to back out of a contract if certain conditions are not met. For example, it’s common for buyers to make the purchase contingent upon their securing satisfactory financing. Obviously, offers with the fewest conditions tend to be more attractive to sellers.
From a contingency standpoint, first-time buyers are often better prospects for a seller’s home than move-up buyers. That’s because first-time buyers’ offers are not contingent upon the sale of a present home. Even if a move-up buyer has an offer in hand, that buyer’s offer may be contingent on another contingency, and so on down the line. If one transaction derails, they all might.

Relationship. Help the seller get to know and identify with you by looking for ways to connect. Find common interests, such as a shared appreciation of gardening. You can then persuade the seller that her prize roses will be well tended. Share brief family stories. The more the seller gets to know and like you, the better chance your offer will stand out in a competitive environment.

Considerations for Short-sale and Foreclosure Transactions – Bank-owned properties represent a significant portion of today’s housing inventory. Competition can be most keen for these homes as their prices can run 10% to 20% below current market value.

Banks conduct extensive research to set these prices and generally base them on current market value less the cost of required repairs. Make your offer based on your own check of comparable sales and other due diligence. Banks won’t get offended by a low offer, yet a realistic offer will more likely keep you in the running.

Remember, patience is essential when buying bank-owned property as the process can take up to six months and longer.

Work with a local Realtor to buy your dream home or investment property. His or her knowledge, skill and expertise will help you make sound real estate decisions today or any other time.

Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

Downsize Your Home - wikiHow

2010-10-06T03:46:00.000-07:00

Downsize Your Home - wikiHow

Great tips on Downsizing your current home...

Move in Condition Blue Bell Townhouse in the Deer Lake Community

2010-09-30T11:48:00.000-07:00

I just found a property and wanted to share it with you!

Home Not Selling....It's Probably Price...

2010-09-23T03:12:00.000-07:00

Home sellers face a new reality as they look to move up, down, in or out of their American dream in today’s market. Consumers, particularly those who purchased their homes within the last five years, often find their options limited by a lack of equity. Those who can sell are sometimes numbed by deflated home prices and find it difficult to justify yesterday’s valuations with today’s reality. Many home sellers have dug in on price hoping to lose no additional ground. Others seem to have taken this market personally, letting emotions override analysis when setting price. Buyer sentiment has shifted as well, centered on maximum value with abundant amenities – resulting in stalemates and homes languishing on the market. Both sides should be realistic as comparable sales and local-market dynamics still determine fair-market value. And there are compelling reasons to be realistic and make a move now. Sellers, assuming their objective is to buy another home, can capitalize on some of the lowest mortgage interest rates on record and an inventory of homes at attractive prices. So while they will sell for less, they will also buy for less and with significantly cheaper borrowing costs. Of course, professional sales representation is essential this transitioning market or any other. The Prudential Real Estate Network, recently recognized for “Highest Overall Satisfaction for Home Sellers Among National Full Service Real Estate Firms” in J.D. Power and Associates’ 2010 Home Buyer/Seller StudySM, is composed of true, local-market experts whose experience, analysis and consultation generate results in all market conditions. As the local experts, they’ll help set fair-market prices using factual reference points, such as an appraisal, comparables sales and personal knowledge to help estimate market value. Today, a house priced at or slightly below market value will attract the interest of real estate professionals and buyers, while overpricing chases them away. Even if the sellers adjust their prices later, it’s difficult to recapture buyer interest. Sales professionals develop comprehensive marketing strategies to sell a home. They generally use open houses, yard signs, Internet exposure, MLS, newspaper ads, brochures and other means to market properties. Beyond that, they counsel sellers on other conditions that may keep sellers’ homes on the market, including:

• Condition and appearance. Sellers shouldn’t rely on buyers to use their imagination; they need to capture it. Remember that buyers may see seven or eight homes in a single day. The most memorable home will be the one that seemed the brightest, the most spacious, and the most cheerful. This invariably means rearranging and eliminating furniture, removing excess knickknacks and so on, to create an open, uncluttered look. Outside, do a visual check of the front of the house from across the street. Does it have curb appeal? It should look inviting, with a trimmed lawn and a freshly painted front door. A real estate professional can offer some guidance in this area.

• Terms/conditions. Even if the home is accurately priced, and the buyer is delighted with what he or she sees, if the buyer can’t live with the terms of the sale, he or she may walk away. Keep an open mind on terms and conditions and evaluate how they may affect a potential sale.

• Incentives. Offering incentives can be just the impetus a potential buyer needs a buyer needs to choose your property over others. Consider offering a carpet or paint allowance. If the buyer knows up front there is allowance for the worn carpet or paint, then may overlook those cosmetic flaws. You could pay for a professional home inspection or a home warranty, or pay closing costs.
Indeed, real estate opportunities abound for sellers and buyers who can come to terms with today’s market conditions. A qualified real estate professional will help you navigate the market, protect your interests and keep you moving toward your housing dreams.

Lower Moreland Beautiful Colonial

2010-09-17T15:28:00.000-07:00

View Video

Tips for Hiring a Home Remodeling Contractor

2010-09-03T06:48:00.000-07:00

10 Tips for Hiring a Home Remodeling Contractor

With the U.S. economy facing the lowest home sale statistics in fifteen years and home values continuing to slide in many regions, it's not surprising to hear that housing trends point towards a large percentage of American homeowners looking to improve and maximize their existing property investment versus buying a new home. When deciding to undertake a remodeling project however, there are several invaluable tips to keep in mind as you discuss your home make-over with potential contractors.Through advice and stories shared by both contractors and consumers, StageofLife.com, a blogging resource for homeowners, discovered 10 important tips on how to find a trustworthy home remodeling contractor to help ensure the right person or company is hired for your next home improvement project.
Tip #1: Does Your Contractor Have Proof of Insurance?Ask the contractor to have his insurance company mail or fax a copy of his current contractor insurance card to you. If the contractor can't do this - stay away. Why? If there is an accident at your home, you are then liable. This also applies to any sub-contractor or employee that the contractor may use - those individuals should have active insurance cards faxed or mailed to you as well.
Tip #2: Did You Check References and See Photos?Ask for at least three references - with two of them being for the same type of project you are planning - and then call the references. Additionally, ask the contractor to provide photos of previous work, especially for the same type of project. If he produces lawn and garden photos and you're planning a bathroom remodel, you may want to check out another contractor.
Tip #3: Does Your Contractor Take Debit or Credit Cards?Besides your ability to earn a few points, bonus miles, or cash back on your project, a good sign that a contractor is financially savvy and has a bank behind his business is his ability to take debit and credit cards. This doesn't just apply to big contracting companies. Many small, one-man shops will take cards if they have a good relationship with their business bank or credit union.
Tip #4: Manners and Appearance?If the contractor drove his vehicle to your home to give you an estimate, take a look at the way he keeps the equipment and vehicle. Are things clean? Neatly arranged? If not - that's a big warning. The way a contractor treats his tools is a direct connection to how he'll treat your home. During the initial meeting, does the contractor present himself in a professional way? Do you feel comfortable around him or his employees? They will be working in your home after all.
Tip #5: Clean Up Policy?Ask about the clean-up policy. For example, if your home improvement is a multi-day project, will the contractor be cleaning up at the end of every day or will he leave the dust, wood chips, and other mess laying there for day #2? The more mess in your home - the more it gets tracked around. Many homeowners find themselves with mouths gaping wide after the contractor has left for the day and their floors and home are dirty and messy around the project area.
Tip #6: Will the Contractor Put It In Writing?Is your contractor willing to put both his bid and the scope of work in writing? If not - walk away immediately. You'll be surprised how many homeowners have been duped by contractors who verbally tell you what's included in their scope of work, but will then, in the middle of everything, require extra money to finish the remodel, thus holding you hostage with an uncompleted home project.
Tip #7: Availability?Can the contractor get the job done in your timeline rather than his timeline? There's nothing more frustrating than if a contractor tells you that a job will be done by a certain date and then it isn't . On the flip side, if you can't find a good contractor that's willing to commit to your timeline, your expectations may be too high and you may need to adjust your timeline.
Tip #8: Does Your Contractor Use "Subs?"Does your contractor plan on doing everything himself? Or will he "sub out" work to the "trades?" For example, if you are remodeling a bathroom, you may need a plumber, electrician, and carpenter. It's okay if the contractor subs work out to these specific trades - it shows he wants the work done right.Also, it's fair to say that you can expect your contractor to make money off the trades, or other sub-contractors, by marking up those quotes for the project. That is a standard practice to help the general contractor recover costs in the time it takes to manage the schedule. If you don't want to spend the extra money on your contractor marking up the trade quotes, then you should prepare to project manage the remodel yourself, but know this may limit your options on contractors willing to work with you.
Tip #9: Quoting & Billing Procedure?Ask the contractor about his quoting procedure. Will it contain general information, or will it be specific? For example - most contractors will charge you for a fuel surcharge, material up-charges, waste removal, labor, etc. Some will show you these exact costs in a line item invoice, but others roll it up into one big bill. How much detail do you want? You should clarify that with your contractor upfront.Also - what is the payment or billing policy? Is money required upfront? If so, go back to #1 and #2 above to make sure you have the contractor's references checked and have a copy of his contractor's insurance.
Tip #10: Did Your Contractor Get the Permits?Ask your contractor to take care of the permits. Although permits cost you money, the inspection process is meant to protect you from poor workmanship and to make sure that everything is being built to code.By following these 10 tips for hiring a home contractor, you'll feel more confident.

RIS Media

Prudential Real Estate Ranks Highest for Seller Satisfaction in J.D. Power and Associates’ 2010 Home Buyer/Seller Study

2010-09-02T03:59:00.000-07:00

Prudential Real Estate Ranks Highest for Seller Satisfaction in J.D. Power and Associates’ 2010 Home Buyer/Seller Study

J.D. Power and Associates announced July 28 that the Prudential Real Estate Network ranked “Highest Overall Satisfaction for Home Sellers among National Full Service Real Estate Firms” in J.D. Power and Associates' 2010 Home Buyer/Seller Study. This marks the second time in three years that the Network ranked highest in seller satisfaction.

The annual study measures customer satisfaction of home sellers and buyers with major national real estate companies. Overall satisfaction is determined by examining four factors for the home-selling experience: agent (44%); marketing (30%); office (15%); and services (11%). Among home sellers, Prudential Real Estate scored highest on a 1,000-point scale and received particularly high ratings from customers in the marketing and agent factors.

PRERS Chairman Jim Mallozzi said the award speaks for the quality and consistency of the Prudential Real Estate Network. “Affiliate to affiliate, our sales professionals are the local-market experts who market and price homes right, while providing attentive service,” Mallozzi said.

Make One Final Inspection

2010-08-16T06:03:00.000-07:00

Make One Final Inspection

In the sales contract, the sellers of your new home agreed to leave the custom blinds, refrigerator, built-in entertainment system and those fine cabinets and workbench in the garage. But when you show up on moving day, all of those amenities are long gone. Moreover, the lock on the back door is broken; there is a huge gouge in the drywall near the front bathroom.
Although these circumstances are extreme, they could happen, which is why it is important to have a final inspection of the home you are purchasing before the closing. A pre-closing inspection gives you, one last opportunity to verify that you are getting all that was promised in the sales contract. Although buyers still have legal recourse if they discover—even after closing—that the condition of the home is not as it should be. Of course, the best time to identify problems is before closing when the seller will be motivated to correct any deficiencies to close the transaction.
Typically, a buyer takes possession of a property one to three months after signing the sales agreement. And a lot can happen before the actual move-in. Appliances and fixtures can break, and walls, carpets and doors can be damaged during the seller’s final weeks in the house, particularly during move-out. Sometimes the seller will simply have forgotten that he or she has agreed to leave the refrigerator or window coverings with the house. Whatever the reason, problems identified before the closing have the best chance of being remedied.
If possible, schedule the inspection right before the closing, such as the day before. Ask your real estate professional to attend the inspection with you. Here’s what to do:
Using a copy of the sales contract as a checklist, first make sure that all items that should be in place (appliances, built-in furniture, window coverings, fixtures, etc.) are there.
Test each appliance to make sure they work properly. Bring along an electrical clock or radio to test each electrical outlet. Test all electrical switches and the garage door opener. Run the garbage disposal and turn on every water faucet, checking under the sinks for leaks. Flush the toilets. Inspect the floors, carpets, walls and doors for recent damage.
If you discover that something is damaged or missing, make a note of it and inform your real estate professional immediately. In most cases, the seller is usually able to take care of small problems immediately, either by making a needed repair or offering compensation to handle it. And, if there are major problems, the seller can even sign a statement acknowledging the deficiency and agree to correct it. Although pre-closing inspections take time and may be inconvenient, they are important and well worth the buyer’s time.

I just found a property and wanted to share it with you!

2010-08-01T08:48:00.000-07:00

Ambler Move in Condition......

I just found a property and wanted to share it with you!

Pre-Settlement Walk-Through

2010-07-30T10:21:00.000-07:00

Final Walk-Through Tips

There will come a time during your home buying process when you'll need to do a final walk-through of the home before closing.
Around a week before you close, take the time to visit your "new" home again. When you're there, check to be sure that the terms of your contract have been met, and that the condition of the property has not changed significantly since talks began.
As your reference guide, be sure to bring your purchase contract with you for this walk-through. This will help you look for little details, without having to remember each item.
What are things you should be on the lookout for?
1. Major appliances: Be sure that any items that were to remain in the home are still there, and that they are in good working order.
2. Major systems: Do the air conditioning, heat, and plumbing still function?
3. Walls and floors: Has any damage occurred to the floors or walls during the sellers move? Were rugs, artwork, or carpets covering water damage that was not disclosed?
4. Repairs: As part of your purchase contract, the seller may have been required to make specific repairs. Be sure that these have been completed, or that the seller has a written timeline for when the repairs will be done.
5. Screens and Storm Windows: If it is the season for these items to be in storage, be sure they have been left behind and that they are in good shape.
6. Remotes: Garage doors, alarms, sound systems, and the like all use remotes, some of which can be very expensive. If any of these components were part of your agreement, be sure they have been kept with the house.
7. Cleanliness: The home should have been cleaned and all debris removed. You don't want to spend the first week living in your new home cleaning up other people's junk.
8. Landscaping: It may seem ridiculous, but yes, some sellers may try to run off with your shrubs and plants. Refer back to your contract to see what should have stayed. If plants were taken, let your agent handle the situation.
9. Fixtures: Light fixtures, curtains, and other items that were agreed upon should still be in the home. If they are not, let your agent address the conflict.
10. Exterior: Has there been any damage to the home since your inspection or first visit? If there have been storm with high winds or hail, be sure to visually inspect the exterior of the house for damage. Once you have signed on that dotted line, the house is yours. Hail damage and all.
Closing time can be very hectic. Be sure to make time for your final walk-through. It's a smart way to bring to completion a long, but joyous, process.

© Copyright 2010 Realty Times.

Real Estate For Sale in North Wales PA, Joanne Genesio Prudential Fox & Roach REALTORS Homes for Sale in Horsham PA. Hatboro Horhsham Schools, Montgomery County. Search MLS

2010-07-29T17:27:00.000-07:00

Victorian for Sale in Horsham.....

Real Estate For Sale in North Wales PA, Joanne Genesio Prudential Fox & Roach REALTORS Homes for Sale in Horsham PA. Hatboro Horhsham Schools, Montgomery County. Search MLS

Does Moving Up Make Sense?

2010-07-10T04:33:00.000-07:00

Does Moving Up Make Sense?

These questions will help you decide whether you’re ready for a home that’s larger or in a more desirable location. If you answer yes to most of the questions, it’s a sign that you may be ready to move.

1. Have you built substantial equity in your current home? Look at your annual mortgage statement or call your lender to find out. Usually, you don’t build up much equity in the first few years of your mortgage, as monthly payments are mostly interest, but if you’ve owned your home for five or more years, you may have significant, unrealized gains.

2. Has your income or financial situation improved? If you’re making more money, you may be able to afford higher mortgage payments and cover the costs of moving.

3. Have you outgrown your neighborhood? The neighborhood you pick for your first home might not be the same neighborhood you want to settle down in for good. For example, you may have realized that you’d like to be closer to your job or live in a better school district.

4. Are there reasons why you can’t remodel or add on? Sometimes you can create a bigger home by adding a new room or building up. But if your property isn’t large enough, your municipality doesn’t allow it, or you’re simply not interested in remodeling, then moving to a bigger home may be your best option.

5. Are you comfortable moving in the current housing market? If your market is hot, your home may sell quickly and for top dollar, but the home you buy also will be more expensive. If your market is slow, finding a buyer may take longer, but you’ll have more selection and better pricing as you seek your new home.

6. Are interest rates attractive? A low rate not only helps you buy a larger home, but also makes it easier to find a buyer.

EXPIRED REAL ESTATE LISTINGS

2010-06-23T02:42:00.001-07:00

What Should You Do If Your Listing Has Expired?

Sellers find it difficult to be optimistic after a listing has expired. Most are excited and nervous when that listing agreement is first signed, hoping that the home sells quickly and for a big profit. It's frustrating to wait week after week for a purchase offer when that offer never arrives.
Regardless of the length of listing -- whether the agreement was for a term of 90 days, 180 days or a year -- when the listing has expired, the broker / seller relationship has come to an end (more or less). This is when sellers often ask whose fault is it that the home isn't selling?

Check Motivation
The first step is to review your reasons to sell. If you are not motivated to sell, you are not a seller. You're a home owner with a sign in the yard. Without motivation, you've got about as much hope for selling as an owner with a sign that reads, "Keep Off the Grass."

Review Marketing
Where is the business plan to sell your home? Review the marketing with your agent, step-by-step. Did your agent drop the ball? Did you? What worked, what didn't pull ad calls or showings? Did you have a virtual tour, send out direct mail, put a lockbox on the property?

Consider Condition
Go out and look at other homes on the market to determine if your home is in the same condition as those actively for sale. Perhaps you need to do repairs before selling. Maybe your home needs to be staged. Does your home scream curb appeal?

Look Again at Buyer Objections
What have buyers said about your home? Review buyer feedback, which your agent should have obtained for you when your home first went on the market. Is there validity to what buyers were saying? How can you compensate for those objections?

Discount Sudden Activity
You won't have to look too far to find agents because they'll all come crawling out of the woodwork when your listing expires. Realtors are prevented from soliciting a seller when the listing is active in MLS. But you're fair game when the listing has expired.
You may wonder why your listing, now that it has expired, is so popular. Many agents specialize in contacting expired listings because they want the listing. Period. Moreover, realize that some agents will take an overpriced listing just to get signage.

Contact Several Listing Agents
Interview agents. Ask the hard questions to determine if the agents are giving you the right answers. Find out what another agent might do differently. If another agent offers substantially more service than your existing agent, list with that agent.

Talk to Your Existing Agent About Why the Listing Expired
If your agent has fulfilled the marketing plan, worked diligently to sell your home, and the market is not answering the ring to your dinner bell, then you might need to conform to the market. This means a price reduction. Ask your existing agent to prepare another comparative market analysis to determine if your home is priced to sell.
If you respect and value your agent, relist with that agent. Adjust your price accordingly and follow your agent's suggestions, even if it means making repairs or improvements you'd rather not do. If your agent is spending money on your listing through advertising, aggressive marketing and networking that listing, that agent deserves your loyalty.

Elizabeth Weintraub, About.com

Eleven Reasons to Use a Real Estate Sales Professional When Buying a Brand-New Home

2010-06-09T05:23:00.001-07:00

Existing and potential homeowners are looking at real estate from all angles as the U.S. economy and local housing markets continue their recovery. For many, there is strong appeal in buying brand-new homes as myriad builder incentives and low interest rates create significant value.
Today’s new homes boast exciting floor plans and designs tailored for specific lifestyles, complete with a huge array of features and appointments. They include energy efficient products and building techniques, reducing buyers’ utility bills. Of course, new-home consumers love that their properties, from roofs to appliances, will not need replacement for many years.
It might not seem necessary to involve a real estate professional in a transaction where a buyer can deal directly with a builder. Yet by using a real estate professional you gain a skilled professional to protect your interests and guide you along the right path.
Here are 11 advantages to using a real estate professional when buying a newly constructed home.
1. Just as a real estate professional calls on experience and knowledge of an area to help buyers locate pre-owned homes in a community, he or she can also direct buyers interested in newly built homes to developments and communities that match client specifications.

2. A sales professional can suggest builders with reputations for delivering a high-quality product, responding quickly to issues, and being financially sound.

3. A sales professional may be familiar with how a builder prices his products and where there may be room to negotiate price or upgrades.

4. Without representation, you are one buyer purchasing only one home. But a sales professional can significantly impact a builder’s bottom line by providing a steady supply of customers. This leverage may work in your favor at the negotiating table. [Note: The builder may require your sales professional to accompany you on your first visit to the site. Check with the builder.]

5. The lender approval process may go smoother if a sales professional schedules visits, accompanies you to lenders, and helps expedite required documents.

6. What may seem like a simple transaction can grow legally complex and risky. A sales professional is familiar with those complexities and risks inherent in the homebuying process. When such questions arise, we can steer you to the right advisors and services you may require.

7. If your contract includes a contingency to sell an existing home your real estate sales professional assuredly can help, though your sales professional will explain that buying before selling isn’t always in your best interest as it can undermine your bargaining.

8. When relocating to a new area, sales professionals can be particularly valuable resources. In addition to providing local area information regarding schools, day care or elder care services, public transportation, proposed development, and so on, once construction is under way, they can periodically stop by the work site, supply you with progress reports, and photograph or videotape phases of the construction.

9. A sales professional can assist you as you face hundreds of design choices and consider which upgrades could potentially add value to the home when it comes time to sell.

10. A sales professional can accompany you at the site while you okay the plumbing and electrical locations prior to dry walling, as well as on the walk-through or builder orientation.

11. Lastly, most often the builder pays the sales professional’s commission. You enjoy individual attention and support at no cost to you.

Builder incentives and heightened affordability have many real estate consumers considering brand-new homes. Rather than rely on builders’ agents – who are paid by the builders – savvy shoppers are hiring real estate sales professionals to help them through the buying process and on to the American dream.

Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc.

2010-05-25T04:43:00.000-07:00

Shredding Event

2010-05-12T20:12:00.000-07:00

SHREDDING EVENT

Shred all those old documents that have been accumulating quickly and dispose of sensitive papers safely - while you watch!

MAY 22, 2010 10am-12pm

Prudential Fox & Roach
1600 North Bethlehem Pike Suite 100
Lower Gwynedd, PA 19002

Buy or Sell First????

2010-05-08T06:17:00.000-07:00

Consumers Are Returning to the Real Estate Market with an Age-old Question: Buy or Sell First?

Residential real estate is gaining stability in concert with the recovering U.S. economy. Consumers, drawn by one of the most attractive buyers’ markets on record marked by historically low interest rates and lower home prices in many areas, are returning to the market to move up, trade down, improve location and otherwise enhance their share of the American Dream.

When it comes to home buying, the ideal situation would be to find a new home, just as you receive an offer on your existing home. You would then be able to close concurrently and move into your new home a few days prior to closing on your previous home. This does happen more often than not, but anyone looking to buy a new home needs to consider all the possible scenarios.

Should you buy or sell first? There are many schools of thought on this subject. Ultimately, it depends on you and your situation. For instance, can you afford to pay two mortgages in the event your previous home does not sell by the time you move? Would you consider a bridge loan (a short-term, high-interest loan that lets you borrow against the value of your old home to covers the bills until you secure the new, larger loan)? Are you willing to move twice to find the home of your dreams if you sell first and can't find the dream home fast enough?

This is where the advice of a real estate sales professional is invaluable. Real estate sales professionals know the current market conditions. They are trained and experienced in working with home buyers and sellers to determine an ideal time to buy and sell.

It is generally less stressful to sell your home first, because you won't have to worry about owning two homes at one time. The market will dictate how long it will take for your home to sell, as will the property’s location and the time of year. As a rule of thumb, it is a good idea to put your home of the market as far in advance as possible when purchasing a new one. But, since interest rates are low and confidence is returning to the market, there’s a good change your home will sell faster if priced properly. (Again, your real estate professional’s advice is critically important here.) In that case, you may want to purchase a new home first.

What if your present home sells before you find a new one, putting pressure on you to find the right house more quickly? You may then decide to make an interim move or request to rent back your home for a specified amount of time as you continue to look for your new home. Those may be worthwhile options if you have your heart set on a specific location or type of home or if you are purchasing a home that is under construction.

If you buy a home before selling your present home, you may end up with two mortgages. Under those circumstances, you may be able to apply for a bridge loan to assist you in making two mortgage payments until you sell your first home. Your real estate sales professional can assist you in finding a lender.

So should you buy or sell first? This is a challenging question regardless of real estate cycles, yet your own circumstances and a knowledgeable real estate professional will help you make the right decision.

Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

Find Out the Difference in a Buyers Agent and a Sellers Agent

2010-04-26T12:58:00.000-07:00

Find Out the Difference in a Buyers Agent and a Sellers Agent

In every real estate transaction - whether the transaction involves condos or other starter homes, luxury properties, or even commercial properties - there are buyers and sellers as well as real estate professional who represent them throughout the transaction. These are the buyers agent and the sellers agent - and each play a very different role throughout the sale.

Clearly, a buyers agent is the real estate professional who works with the buyers. These agents will focus on listening to what a buyer is looking for in a home, identifying the buyer's budget, providing information about different neighborhoods and school systems, and searching through lists of available properties that will meet their clients' needs. Buyers agents can work with their clients to find financing for their home purchase and will schedule times when the buyers they are working with can see available properties for themselves. Finally, the buyers agent will help to negotiate the price of the home and work to complete the transaction.

Similarly, the sellers agent - as you might expect - works with property owners who need to sell a home that they own. Whether the seller is looking for a larger or smaller home, leaving the area for the sake of a job, or is responsible for selling a home that was left to them as a part of a loved one's estate, the sellers agent takes the lead during the sale process. From helping the seller understand what's involved in selling a home to staging the property before prospective buyers see it to negotiating the final sales agreement, the sellers agent will focus on making sure the transaction goes smoothly for the seller.

Though the buyers agent and sellers agent will work together, each represents a very different interest throughout the property.

Article Alley

TOP TEN TIPS FOR STAGING A HOME

2010-04-16T06:02:00.000-07:00

Top 10 Tips for Staging a Home

April 15, 2010 -- Realty Times Feature Article by Broderick Perkins

Provided your home-for-sale has the curb appeal to get potential buyers inside, keeping them inside for a further look requires a staging strategy that sticks the deal.

HGTV's FrontDoor.com offers what it considers the Top 10 tips that can turn a languishing listing to a multiple offer attraction.

• Reclaim the yard. First impressions rule. Spruce up curb appeal by maintaining a clean yard, adding plants for a splash of color and applying a fresh coat of paint to the front door.

• Let the foyer flourish. The home portal sets the tone for the entire home. Make the space up-to-date, well-maintained and eye catching -- top to bottom.

• Back off beige. Don't let neutral colored walls dominate a room. Splashes of color liven up boring spaces. Throw pillows, artwork and fresh flowers add pops of color and personality.

• Cure kitchen craziness. Consistency pleases. All countertops and cabinets should match. New hardware, a new backsplash and a thorough cleaning can transform a bleak kitchen into one with smiles.

• Denude the dining room. De-cluttering and depersonalizing is the first rule of home staging. Homebuyers can have trouble envisioning themselves living in a home that's full of the seller's personal items.

• Avoid focal point faux-pas. Highlight the great features in a home by positioning furniture to highlight them. Windows, fireplaces and other architectural details will be noticed by a buyer if they are emphasized in the home correctly.

• Perk up the patio. The outdoor space is an extension of the home. Capture a higher selling price by cleaning and adding style to any outdoor space with furniture, lighting and accessories.

• Master the master suite. The best approach to staging is often working with existing accessories. Using what is already in the room and repositioning the furniture will highlight the room's best features.

• Cure bathroom blues. Older vanities and dreadful wallpaper will make any bathroom feel outdated. Apply a fresh coat of neutral-hued paint and new hardware to modernize and brighten.

• Repurpose extra rooms. The value of a space decreases when homebuyers see a room without direction (think part office, part playroom, part home gym). Though almost every homeowner is guilty of having a "junk room," take sure to stage each room with a clear purpose before putting the home on the market.

--------------------------------------------------------------------------------

Getting Your Property Ready For A Warmer Market...

2010-04-07T05:55:00.000-07:00

Ah, Spring … Make Sure Your Property Is Ready for a Warmer Market

Spring is a season of renewal – this year in particular. Just as the birds are chirping and flowers are starting to bloom, the U.S. economy is moving forward with real estate sales percolating in many markets. Indeed, the days grow longer in spring, allowing more time for consumers – especially those motivated by current, historically low interest rates and attractive home prices – to shop for their American dream.

If you’re considering selling your property this spring, now's a good time to complete some spring maintenance to make sure your home is in tip-top shape. Even if you aren't planning to sell your home, you should still add these chores to your list to help preserve your home's value and help avoid major repairs later on.

Walk Around the Outside

Check for any damage caused by winter's cold weather. Look for those sagging or loose gutters, window frames or siding. Is your roof missing any shingles, or is there any water damage under the eaves? Promptly schedule repairs for those items you can't do yourself.

Over the fall and winter, leaves, mud and debris may have accumulated in your gutters. Check your gutters for clogging and damage and schedule an appointment for cleaning.

Walk around your yard as if you were a first-time visitor. What impression does your home make? Be sure to clear away fallen branches and leaves. Loosen the soil around perennials, plant annuals or a vegetable garden. Prune shrubs and trees.

If your water supply has been off for the winter, turn it back on. Test your automatic sprinkler system or connect your water hose and check for cracks and leaks. Replace old washers or sprinkler heads.

Don't forget the backyard! Is it time to condition your deck? Be sure to hammer in any loose nails, or replace them with galvanized deck screws. Replace any broken boards or rails. Consider renting a power washer to clean dirt and mildew from the wood, and then apply an all-weather sealer or stain. Then dust off that patio furniture you kept protected over the winter.

Repair any broken fence boards and paint or seal them as needed. Clean the pool if it has been covered all winter. Wash windows, screens and windowsills; repair any winter damage.

Take a Tour Inside

Start making a list of things to do in each room. Then go to work. Dust walls and ceilings to remove cobwebs and wash any grimy areas. Wash window curtains or remove drapes for dry cleaning. Deep clean rugs and carpets. Dust and polish wood or laminate floors.

Clean fan blades using mild soapy water. Check the central air-conditioning unit for debris and obstructions; vacuum the main condenser coil on top of the unit. Check the operating condition of window air-conditioning units; remove and wash filters in mild soapy water.

Make sure all exhaust fans and vents are clean and clear. Don't forget to remove the lint buildup from the clothes dryer vent.

One often-overlooked area is the fireplace. Be sure to sweep ashes carefully into your fireplace's ash pit or into a dustpan. Clean and lightly oil fireplace tools. Remember it's springtime, so you may want to decorate the fireplace or wood stove with a large silk flower arrangement.

Look around for clutter. Are there items you don't use any longer? If you are planning on moving, what items will you not need? Consider having a garage sale and then either donate or trash the remaining items.

And lastly, don't forget to replace batteries in smoke and carbon monoxide detectors. A good time to change them is when you change your clock for daylight savings.

Although performing these spring chores may be dreaded task, they go a long way in maintaining and even enhancing the attractiveness and quality your home. With more buyers out and about, you must be sure your property is ready for its next new owner!

How to Successfully Buy a Home

2010-03-27T17:21:00.001-07:00

When you are ready to buy a house, make a list of all the features that you would like to have in your new home. Consider things like a garage, basement, the number of bedrooms and bathrooms, central air conditioning, ranch style or a home with two or three stories. Do you want large bedrooms with walk in closets? Is the size of the kitchen important to you? Do you want a separate utility room or pantry? Would you like to have a large yard? Your list can be quite long, but realize that it is not likely that you will find all of the features you want in one house, although, if you find one with most of your wants, you may be able to make some minor changes so that it will suit you. When you start viewing houses for sale, bring the list with you and note which features each home has and what changes you could make so the house will meet your needs and desires. For instance, if you need four bedrooms but the house has only three, does it have a den that could be converted to a bedroom?

After you have a good idea about the type of house you would like to purchase, contact a real estate agent in the area that you are considering for your home purchase, and share your ideas with him or her. A professional real estate agent will know about the houses that are available in the area and can set up appointments for viewing the properties. He or she will be familiar with the homes for sale and the features of each one and can save you a lot of time in your search for the right house.

When you are ready to make a decision and give an offer for a house, you will probably need to get a real estate loan to finance your purchase. Your real estate agent can give you advice about the best lending agencies to consider for this major step. If you have a bank account or an account at a credit union, ask a real estate loan officer about their rates and terms for home loans. Inquire about fixed rates and adjustable rates to determine which mortgage type would be best for you. The rate would be lower for a 15-year loan, but your payments would be higher. A 30-year loan may be more affordable, but you will pay more interest over the life of the loan. Compare the rates and terms of several different lending institutions before selecting the one that offers the arrangements that will be the most satisfactory for your situation.

If you are a first time home buyer, you may qualify for an 8,000 tax credit, and if this will not be your first home purchase, you may still be eligible for a 6,500 tax credit. Ask your lender or real estate agent for the details regarding tax credits – or you can find more information about them on the Internet.

AA

I just found a property and wanted to share it with you! Immaculate Warrington Colonial....

2010-03-25T08:27:00.001-07:00

I just found a property and wanted to share it with you!

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HOW TO CHOOSE A MOVER FOR YOUR LOCAL MOVE

2010-03-16T02:13:00.001-07:00

HOW TO CHOOSE A MOVER FOR YOUR LOCAL MOVE

Avoid Extra Charges!

Take extra charges, for example. Internet is full of stories how people were ripped of by unfair moving companies. General rule of thumb: if the price sounds too good to be true, you will end up paying two times more than the original quote, and if you refuse to pay additional charges, chances are you will not see your belongings until you take care of outstanding bill.

I cannot stress this too much: never hire a moving company that has shrink wrap, blanket, overtime and over charges of this kind. This is the fastest way to overpay.

Let's say someone offers you a rate of $80 per hour for a crew of 2 movers and a truck with no extra charges for packing supplies for your furniture. Another company will offer you $70 per hour, but will charge you $5 per item that needs to be shrink wrapped. Guess what!

Although many people will opt for a mover who charges less per hour (sounds like a better value), most likely you will end up paying more than with the first moving company. It's very simple: every piece of your furniture will have to be wrapped with shrink wrap simply to minimize the chances of your belongings to be damaged during transition.

So, if you have just 10 pieces of furniture, it will add up to extra $50 on your bill. If your move takes 3 hours, you will end up paying $70 x 3 + $50 = $260, while if you took the first offer, you would get away with $80 x 3 = $240. And this is just if you have 10 pieces of furniture! (most people have way more than that)

My strong suggestion and general rule of thumb is: always go with a moving company that offers the simplest, uncluttered and most clear pricing structure, even if the hourly rate is a little higher. Do you really want to be counting the pieces that needed to be wrapped? Do you really care? Not only simple pricing structure will save you a headache and make your move more pleasant, 99% of the time it will also save you money at the end of the day.

Ideally, you should choose a moving company that offers hourly charge with no extra or hidden charges (mileage, shrink wrap, blankets and other) as opposed to a company that charges for these items, even if the hourly rate is a little higher. Simplicity and clarity is the key not only to save money, but also to ensure you have a pleasant moving experience!

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Make Sure Your Home Stands Tall in a Competitive Market

2010-03-06T09:40:00.000-08:00

Make Sure Your Home Stands Tall in a Competitive Market

Home sellers today must convince a new era of buyers returning to the market that their homes stand for value and quality.

You only have one chance to make a first impression. Here are several ways to make your property shine, inside and out.

Start with the outside. Do a visual check of the front of the house from across the street. Does your property have curb appeal? It should look inviting, with a trimmed lawn and flowerbed and a freshly painted front door. Polish door handles and knockers and replace worn items such as a rusty doorbell. Consider adding a new doormat and flowering plants at the entrance. Don’t forget to wash your windows and clean any oil or rust spots from the driveway.

Be sure to inspect the side and back yards. Add some flowering plants to the back as well. Clean and rearrange the outdoor furniture to look inviting. Put away gardening tools, and tidy around the grill area.

Now focus on the inside of the home where cleanliness, space, smell and lighting are vital. First get your house in tip-top condition by cleaning and clearing away clutter. Steam clean and vacuum the carpet. Make sure your floors are waxed and shiny. Touch up nicks on walls and make sure the porcelain sinks and tubs and metallic fixtures shine.

Be conscious of any lingering odors such as smoke, pets or strong-smelling foods. You may need to air out your home prior to your open house event. Consider grinding fresh lemons in the garbage disposal. And don’t forget to empty all trash containers.

Look at your countertops in the kitchen and bathrooms and the tops of your bureaus. Do they seem cluttered? Clear away and store as much as possible. You want your home to seem spacious.

Next, set the mood. Let your prospective buyers picture your home as their own. Rearrange the furniture so that rooms look more spacious, or consider removing furniture and accessories.

Lighting is also important to creating a desirable atmosphere. Bright lights provide a cheerful environment and make a small space appear larger. Pull back all the drapes and open the blinds. Turn on all the lights. Make sure all light sockets have fresh bulbs. Use softer lights for rooms in which you want a warm, cozy feeling.

Don’t forget little touches such as fresh flowers, lighted candles in the bathrooms, new logs in the fireplace, or a bowl of fresh fruit on the kitchen counter. You may even want to set your dining-room table with color-coordinated table settings.

Home buying is steeped in emotion. Sellers shouldn’t rely on buyers to use their imagination; they must capture buyers’ imagination. Remember that buyers may see seven or eight homes in a single day. The most memorable home will be the one that seemed the brightest, the most spacious and the most cheerful.

SHORT SALES EXPLAINED

2010-02-25T12:41:00.001-08:00

What is a short sale and why do homeowners prefer it? A short sale happens when the mortgage is more than the value of the property itself. This could be because the value of the properties in the area where the property is located has decline. It could also be because of the condition of the property. Many property owners apply for a short sale because they want to avoid foreclosure. Through this, they can pay off the mortgage and star anew.

Before a short sale can take place, the lender has to approve the package presented by the homeowner first. The package presented has to be complete. It should have a hardship letter. This letter will explain to the lender why the homeowner could no longer make his payments. This could be because of unemployment, divorce or death in the family. In addition to that, you will be asked to present an offer from a buyer as well. Ask your lender about the other requirements you need to present.

The lender has the right to approve or reject the proposal because he will definitely lose if he agrees to this. However, this maybe a better option for him rather than foreclosing the property. It is not easy to get your lender’s approval. This shy you should be ready. All your requirements have to be complete. Moreover, you should be familiar with your documents so that you can defend your package and explain it thoroughly to your mitigating officer.

One of the major reasons why your lender would reject your short sale package is when the value offered is way lower than the value of the property. If this happens, the lender will send a broker to check the property. The broker will determine the value of the property and will recommend it to the lender. If the value is higher than the offer made by the buyer, your short sale package will be rejected. However, you can prevent this. Just make sure that the offer to your property is reasonable. Be there when the broker arrives and walk him through your property. You can also present to him images and documents of the repairs made in your property.

If the lender rejects your package, do not be disheartened and try to qualify again. Get a better offer for your home. You can ask your current buyer or you can look for another buyer who will be willing to make a better offer for your property.

If you are the buyer, make sure that you make a good offer. See to it that you consider several factors before you make an offer. Check the property as well as the location. Of course, you will offer a discounted value since it is a short sale but be careful not to make a very low offer.

Many turn to short sale to prevent foreclosure. However, getting an approval from the lender is not easy. You have to make sure that your requirements are complete and that the offer made is reasonable.

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UPPER DUBLIN FIRST TIME HOMEBUYER DRESHER WOODS TOWNHOUSE.

2010-02-16T17:05:00.001-08:00

I just found a property and wanted to share it with you!

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It’s a Buyers’ Market for Real Estate Investors, too

2010-02-14T14:54:00.000-08:00

By Joanne Genesio
Prudential Fox & Roach

Turn on any financial news program and at some point you’ll hear the experts extolling the virtues of diversification. Real estate, even through the market downturn, has long been considered a conservative, long-term strategy to growing wealth.

In fact, that very downturn has created a historic buying opportunity for potential homebuyers and investors alike. The combination of lower home prices across American and historically low mortgage rates, two essential factors that usually don’t trend in the same direction, have triggered a buyer’s market in many areas of the country. For real estate investors who want to rent their properties, this can make the difference in achieving positive cash flow sooner or right off the bat.

While some seasoned real estate investors make it look easy, to be successful, beginners should follow some basic principles.

Learn all you can. Before committing your cash, you should have a fundamental understanding of real estate. For example, be aware that, in general, investment properties are not liquid investments. Barring exceptional circumstances, real estate does not sell at a moment’s notice. It could take days or months to sell a property, depending on the strength of the market in a particular region.
Consider cash flow. You’ll need to have enough capital on hand to cover any short-term losses due to vacancies between tenants.

Start small. Look into buying a condominium, single-family home or a duplex. Leave large apartment buildings and commercial properties to the pros.
Inquire at the local Chamber of Commerce about companies relocating into or out of the area. Company movement is one indicator of demand for rental and/or office space.

Find a property that will be in demand. Look for a moderately priced home with three or four bedrooms, two bathrooms, and a garage that sits on a quiet street.
Research the property. The most common way first-time investors lose is by failing to investigate a property thoroughly. Look beyond the front door. Investigate the reputation of the school district, the crime rate, and plans for expanding a nearby highway or developing vacant land. Ask a local real estate professional about the area, its history, and how fast (or slow) properties are moving.

Inspect the home you’re considering for signs of water damage, such as stains on the ceiling and crinkling or gathering wallpaper; open and close every door and window; and check all electrical sockets by plugging in an appliance. Get an independent home inspection, roof inspection and termite inspection. Unexpected repair costs can eat away your cash flow. Because even the best inspection can’t always predict problems, try to set aside some of the rental income for unexpected repairs.

Spend time driving the streets of the neighborhood noting the condition of other properties. Are lawns maintained? Are roofs in good shape? Are homes kept up?
Be ready to make fixes quickly and respond to the renter’s needs. If you’re not prepared to be a hands-on landlord, consider hiring a property management firm.
See your tax advisor for related planning and laws that can affect your investment decisions.

Remember, investing in a property is much different than living in one, and while emotion and attachment can be prime motivators when it comes to homes, it is return on investment that counts when investing in real estate.
Joanne Genesio can be reached at (215) 641-2413. Prudential Fox & Roach is an independently owned and operated member of The Prudential Real Estate and Relocation Services, a Prudential company. Equal Housing Opportunity.

U.S. Department of Housing and Urban Development (HUD)

2010-02-07T10:22:00.000-08:00

U.S. Department of Housing and Urban Development (HUD)

Upper Dublin Townhouse

2010-02-01T17:28:00.001-08:00

I just found a property and wanted to share it with you!

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Homeowners Insurance Explained

2010-01-31T17:21:00.001-08:00

Homeowners Insurance Explained

Check out the video below with an illustrated explanation of homeowner’s insurance along with tips and tricks. They even remember to suggest that buyers check with their auto insurer for a rate quote. click here for the video.

http://agentgenius.com/g-rants-insanity-more/real-estate/video-for-your-blog-homeowners-insurance/

Philadelphia Housing Market, Interview with Prudential Fox Roach CEO Larry Flick

2010-01-30T09:08:00.001-08:00

Why Asking too Much For Your Home Doesn’t Help it Sell

2010-01-28T04:40:00.000-08:00

Why Asking too Much For Your Home Doesn’t Help it Sell.

Thinking of Overpricing?

Since the fall of housing prices over the last few years, many home owners seem determined to get at least their purchase price out of their home for sale, while many others are looking to recoup the amount of money that they’ve paid into their homes. While this seems like a reasonable strategy, when you consider that the fall in housing prices has greatly reduced the amount of money that many of these homes are worth now, it is easy to see how listing your home at possibly a hugely inflated price is most certainly going to hurt your chance of a sale.
There are many problems with pricing your home with unrealistic expectations, as you can well imagine. Firstly, if you price your home like you’re trying to sell it to home buyers who’ve taken a time machine trip from 2005, you’re likely to not get many people coming to look at your home. Anyone who is looking for homes in the price range that you’ve set for your home is probably going to be looking at substantially nicer or larger homes than yours because your home should be priced in a lower bracket. If you do get any prospective buyers coming through to tour your home, you are likely to not get many offers—at least not in the range that you’re looking for.
What home owners might not realize though, is that a home that sits on the market for long periods of time isn’t encouraging for prospective buyers; they see that a property has been on the market for months—maybe with small drops in the outrageous asking price—and decide that all the other buyers out there have already decided that it’s not a property that’s worth buying. In addition, you’ve had to keep your home in a show-ready state for months in case a realtor calls to show your house; this can be merely a hassle to keep a home in a permanently staged state and it can also cost you money if you’re renting furniture or having a house cleaner come in to help you keep it immaculate.
For your best results in home selling, consult your realtor for their judgment on what kind of listing price they think that you should start with; many listing agents won’t even take on a client if they insist on pricing their home completely unreasonably because they know that it can be a waste of time to go through all that work for something that isn’t going to sell.

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Musts for a Bathroom Renovation to go Easily and Smoothly

2010-01-16T05:58:00.000-08:00

A bathroom renovation is not really something to be undertaken lightly. You cannot simply decide one day to start tearing out the toilet, sink and bathtub and start knocking down the walls. A must for any bathroom renovation to go smoothly is to plan things out carefully. If you do, you are more likely to be successful in getting your bathroom to come out exactly the way you want it to, or perhaps even better than you expected.
Another must before any bathroom renovation is to decide how long you are planning to remain in the house. If you are planning to move out in the short term, you may not be in the home long enough to recover all of the money you will invest in the renovation. The less time you are planning to stay in the home, the less money that should go into your renovation.
You must make a list of all the things you will want in your renovated bathroom. Really think about how you want your bathroom to look and where you want things to go, and then you are going to have to decide whether your budget will allow for everything that is on your list. This means that it is a must to set a budget for your bathroom renovation, and it must be reasonable. If you build a palace fit for a king, you will never recover your investment, and you may end up having to ask too much for your home.
If it is going to be a space that will be used by the whole family, then you are going to have to take their thoughts and ideas into consideration. You cannot renovate a room according to your likes and tastes without taking everyone else in the family into account. You might have very particular tastes and ideas which will not please the rest of the family. It is a must for you to sit down with your whole family and discuss the idea of renovating the bathroom.
It would be a good idea for you and your family to visit places where there are bathroom displays to see if there is something that the whole family can agree upon. You will not all agree on the same things, but there can be a general agreement, which is how family decisions should be made anyway. If there is general agreement, then everyone will be able to enjoy the renovated bathroom instead of trying to avoid it at all costs.
You have to stay focused and always keep in mind what you can actually afford, which will not include everything you want. There are so many things that you can put into a bathroom that it can really drive up the cost and your budget if you are not careful. In addition, if you hire someone to do the work, delays will definitely put your over budget because it will take longer to do the renovation. This is why it is a must to have a clear idea of what the renovation objective is and how to go about it. You will end up with a renovated bathroom that you can are really going to take care of and enjoy.

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Elkins Park, Cheltenham Twp, Montgomery County PA Move-In Condition Home For Sale

2010-01-15T19:25:00.001-08:00

I just found a property and wanted to share it with you!

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I just found a property and wanted to share it with you!

2010-01-10T08:55:00.001-08:00

I just found a property and wanted to share it with you!

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Home Inspections

2010-01-08T05:14:00.001-08:00

Home Inspection- Why do You Need it When you Buy a House

You plan to have your house go through a home inspection process; you will definitely know some issues that might need your immediate attention. You want to know if you will hire a plumber or electrician to get rid of those problems. Your ceiling, chimney, roof and other parts must also be inspected to avoid having serious problems in the future. Primarily, you want your home to go through home inspection process so that you can assess the actual state of the house and some other reasons that you can think of.
Home inspection procedure will let assess if you are making the right decision in buying the house. If the home inspector begins to inspect other areas in the house, sees a lot of defects, you can ask for a price adjustment. You really don’t have to pay for skyrocketing prices during the start of your home purchase procedure. Alternatively, if he finds minor damages, then you can be secured of choosing such property that will last for a long time.
After you have bought the house, it is also imperative if you have it go through the process again to identify which defects need to be done immediately. Based on the form provided by the home inspector, you can find those damages that will require your fast response to the problem. These repairs will not require you to do all at the same time. You can just choose those that need to be done as soon as possible.
A home inspection after closing the deal will let you know that you are not adding more value to the house without undergoing the proper documentation. It will just show you that you have the initiative to fix and improve the house. When you dispose your house, you can ask for a better price than the original amount that you have paid. Potential home buyers can be assured in buying your property if this will be the case.
Letting your home go through the inspection process, before or after the transaction is a smart move. It is a sort of protection from possible problems that will go along your way which can be more expensive in the future. It can aid you to assess if the property that you like is a worthwhile investment. It can also be a fruit of your labor.
For security reasons, get all the important papers that are provided by the home inspector. They can be useful in the future. You will find the importance of home inspection procedure once you have started to live in the house. Thus, do not ignore the importance of home inspection in your home buying process.

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REDUCED!! 1222 Dell Road Worcester

2010-01-05T20:15:00.000-08:00

1222 Dell Road

Realtor vs FSBO

2009-12-21T19:21:00.001-08:00

Trained Realtors - The Understanding You Require To Sell Your House

It is very difficult to market your home for sale all by yourself, as many people who do so often run into a difficult situation and trying to give themselves maximum exposure. For this reason it is a good idea to utilize a professional Realtor.
When it comes to having your house sell or not, it all comes down to marketing. Without any of the exposure that you get from a real estate agent, putting your home in front of prospective buyers is difficult.
These days one of the best ways to get some attention for your home is by using the Web, and an agent who is already established with a web presence could be a real boon to get people to look at your house. Let's face it, this is the era of the internet.
The vast majority of those in the market to buy a home have spent quite a bit of time on the Internet looking around to find homes before they actually contact a Realtor to go see them. This is why it is vital for a Realtor or agent to have a commanding web presence.
Another thing that an agent excels at is putting your home in front of other agents who may have potential buyers. This is probably one of the most important parts in the process of selling your home.
Your Realtor will most likely know all of the other realtors in town and set up a private viewing for all of his or her agent buddies so your home can get full exposure to all of the different realtors in the area. These are some pretty powerful benefits as I'm sure you can imagine. Most all of your realtors will also have a budget for advertising their listings both in print and media.
This should be including full-color advertisements in your local newspaper, and have your home listed and flyers that can be found 24 hours a day on a sign in the front of your yard. Without the help of a Realtor it is nearly impossible to gain this type of exposure.
Not only is the Realtor going to make an investment of their time and effort into the sale of your home, but they will also put their money into it as well. It is in their best interest to see that your home is sold in a timely manner and for the best price possible. They are able to showcase your home in a fashion that most home owners cannot achieve due to the time involved.
Not only do they have very good knowledge of the market in the area, but they have access to all of the marketing media as well. You might surely be surprised when you ask your Realtor what it is they are doing to effectively market your home. Discovering the right Realtor can be tough I understand, and as this article said you need to get one with a powerful web presense.

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Phantastic Phinds - Philadelphia Consignment Second Hand Used Furniture and Home Goods

2009-12-16T02:35:00.000-08:00

Phantastic Phinds - Philadelphia Consignment Second Hand Used Furniture and Home Goods

Energy Savers: Tax Credits for Energy Efficiency

2009-12-13T17:09:00.000-08:00

Energy Savers: Tax Credits for Energy Efficiency

Owning a Home Has Its Benefits

2009-12-01T09:46:00.000-08:00

By Joanne Genesio
Prudential Fox & Roach

Opportunity is knocking for those considering homeownership for the first time. Historically low interest rates, lower home prices in most markets and the first-time homebuyer tax credit – part of the American Recovery and Reinvestment Act of 2009 – brought first-timers to the market in droves throughout the year.

In fact, these consumers represented about half of home sales logged during 2009, according to the National Association of REALTORS®, a significant increase from historic levels. And the favorable conditions that prompted many of these first-time buyers are likely to continue. President Obama in early November signed into law a five-month extension of the first-time homebuyer tax credit of up to $8,000, as well as a new tax credit of up to $6,500 for existing homeowners who want to purchase a home to be their primary residence (see your real estate professional and tax advisor for details). Both credits will be available through April 30, 2010.

Today’s opportunities aside, here are eight time-honored reasons why those considering homeownership for the first time should make their move.

1. Pride of Ownership Owning your own home adds to your own sense of self-esteem and personal pride. The satisfaction that comes from feeling connected to the land you occupy and the home in which you live is ages-old.

2. Security of Tenancy
With homeownership comes stability. When renting, you never know when you may have to move because of new ownership, rent increases or other changes. As a homeowner, you decide when and if you want to move.

3. Privacy
While there are usually some limits on the access landlords have to property, almost all landlords can access your property for necessary inspections and maintenance. For many renters, this lack of privacy is a significant discomfort. Homeowners on the other hand generally have much stronger property rights and experience an increase in perceived and actual privacy.

4. Decorating
Homeowners are free to decorate, remodel and accessorize a home any way they want. Not only do you have the right to make improvements, but the value of those improvements becomes yours as well. Having your living space and exteriors just the way you want them can significantly increase your satisfaction with your living environment.

5. Financial Predictability
When you buy a home with a fixed-rate mortgage, you have more predictability over future housing costs. Because your interest rate never changes, the amount of your payment never changes. Financial planning and credit are more easily managed with a fixed-rate mortgage compared to renting.

6. Building Equity
When you own your own home, you pay rent to yourself instead of a landlord. Most homeowners pay for their purchase by obtaining a mortgage. As you pay off that mortgage, your equity builds and you gain an increasingly larger share in a valuable asset. Over time, that asset can work for you in many ways, such as home equity lines of credit. And of course, a home is a wonderful asset to pass along in an estate.

7. Investment Appreciation
There are certainly no guarantees of property value appreciation. In the long-term, however, real estate valuations almost always increase. This means that when you decide to sell your home, its value may be significantly higher than when you purchased it. The difference in value is called appreciation. You can reinvest that appreciation in other real estate or you may wish to downsize and keep the value of that appreciation for retirement or other purposes.

8. Tax Benefits
In the United States, the cost of home mortgage interest and property taxes are usually tax-deductible. Depending on your circumstances, thousands of dollars in taxes can be saved each year. These tax savings are not limited to federal taxes either. Many states and localities either base their tax system on the federal system or offer similar incentives to homeownership. Some additional benefits are designed specifically for first-time homebuyers. (See your tax advisor for additional information.)

If you still have doubts, contact a real estate professional in your community. He or she can answer questions you may have about homeownership and explain the buying process to you.

Joanne Genesio can be reached at (215) 641-2413. Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

Congress Extended & Expanded Homebuyer Credit

2009-11-08T18:45:00.000-08:00

Congress has extended and expanded the current homebuyer tax credit. The new credit will include some current homeowners as well as new homebuyers and will be extended until April 30, 2010. Contact Joanne for more details today!

Who Qualifies for the Extended Credit?

* First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
* Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Is Available?

The maximum allowable credit for first-time home buyers is $8,000.

The maximum allowable credit for current homeowners is $6,500.
How is a Buyer's Credit Amount Determined?

Each home buyer’s tax credit is determined by tow additional factors:

1. The price of the home.
2. The buyer's income.

Price

Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income

Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.

These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see 2009 First-Time Home Buyer Tax Credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.
Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.

Above information from of the NAR website. Visit http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit for more information.

Extending the First Time Home Buyer Credit?????

2009-11-02T14:36:00.001-08:00

Extending the Credit — Almost There

The extension and expansion of the homebuyer tax credit is the pending business in the Senate. After a long week of negotiation on the credit, an agreement on the scope of both expansion and extension has been reached. The extension is part of a larger bill that has not yet gone to a vote, however. A Senate vote on the underlying bill will occur in the Senate during the week of November 1. The package will then go back to the House. The House is expected to accept the Senate amendments, vote on the package and send it to the President for signature. The underlying bill is an extension of unemployment benefits. Other provisions in the bill include expansion of the net operating loss carryback rules, new requirements for some tax return preparers and noncontroversial provisions that "pay for" these changes.

The agreement on the extension and expansion of the credit is as follows:
Credit available for purchases before May 1, 2010. Prospective purchasers with binding contracts in place as of April 30, 2010 will be allowed an additional 60 days to complete the transaction.
Credit remains at $8000 for first-time purchasers. No change to definition of first-time purchaser.
New $6500 tax credit for repeat buyers who purchase between December 1, 2009 and May 1, 2010. Repeat buyers must have lived in their homes consecutively for 5 of the previous 8 years.
Income limits are expanded to $125,000 on a single return and $225,000 on a joint return. Current law $20,000 phase-out retained.
New anti-fraud limitations are imposed.
The White House has indicated that President Obama will sign the legislation.

Call Your Senator
Take Action
Visit www.realtor.org/2009housingtaxcredit

I just found a property and wanted to share it with you!

2009-10-30T12:12:00.001-07:00

I just found a property and wanted to share it with you!

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Get Pre-Approval before Beginning your Home Search

2009-10-25T15:11:00.000-07:00

One of the most exciting and highly anticipated events in your venture to real estate is when you go house hunting to finally discover your sought-after dream house. You may have set yourself all geared up for a great home search adventure yet you need to know first the most important component that ought to signal the start of your venture. Loan pre-approval must be on top of your priority list before you go any further in your pursuits for home acquisition. You realize that looking for a prospective house is useless if you have not yet been pre-approved of your mortgage.

This is often a common misconception and error for home seekers resulting to wastage of their time, effort and money. Yes it is a very good ordeal to start looking for a house, yet it is totally of no avail if you are looking in the wrong place at definitely the wrong time. You do not have the full and accurate picture of the things allowable in the home purchase in the first place, so how could you find the perfect property to consider for your investment?

If you have a loan pre-approval, you know the entire scenario and you know exactly what property you can realistically afford, basing on your mortgage loan and what type is granted you by your mortgage provider. Therefore, you can focus your time and efforts in trying to search for a property that is suitable and affordable with the kind of financial allocation you can actually spend. This is much less stressful and efficient compared to searching for random properties which you are not certain about their affordability and your eligibility to purchase. It saves you the disappointment knowing that you cannot realistically pay for it even if you have already fallen in love with the house.

Loan pre-approval is also a necessity if you are going to make the required home purchase offer. Say you have already seen the property of your choice and you are more than willing to make a proposition in initiating your transaction. However, the only problem there is that you do not have the pre-approved loan as evidence of your eligibility to carry on and complete the transaction. Home sellers prefer those who already have a stable and actual source of finances for the home purchase. It also gives them the notion that you are truly serious with your venture if you already have a pre-approved loan to use as their basis of accepting your offer.

Hence, before you embark on a home search endeavor, make sure that you have a loan pre-approval to avoid the hassle and bustle of uncertain offers and intangible sources of financial credibility. Prioritize that your loan be pre-approved by submitting all the requirements such as your employment history, monthly expenses and income, credit standings and scores among others.

Finding a house for the realization of your dreams is a fulfilling pursuit to begin with, however you need to make it as realistic as possible. Do this by securing a pre-approval for your loan and you can then enjoy this once-in-a-lifetime ride of your life.

The Real estate market can be an enjoyable, satisfying and lucrative experience for you.

article alley

Tips on Making an Offer to Purchase Real Estate

2009-10-14T07:55:00.001-07:00

Tips on Making a House Offer

When you’ve done shopping around for a new house, you and your family has finally decided on one that is perfect for your family. It is now time to make an offer for that house. The offer you can give on a home can be quite tricky since you do not want to offend the seller by offering a very low price on it and you do not want to pay too much as well just to get that home of your dreams..
Below are some tips to help you make an offer to the home you are willing to buy and own.
1. Ask the advice of a real estate agent or even friends and family who are very knowledgeable in these matters. An agent is not supposed to recommend an asking price for a home but the information he or she can give you will help you a lot on what to offer the seller. An agent especially, has a lot of knowledge when it comes to homes in the market.
2. Find out the history of the home you are interested in. You can find out if the seller has bought it in a down market. More or less you will be able to pay the same price or near to the price your seller bought it for. This can help you to determine a good price for the home.
3. It is helpful to check out prices in the market. If you are in a seller’s market, the seller might not want to go lower than the list price. If you are in a buyer’s market, you might be able to talk the seller into the price you are willing to offer for the house.
4. Try to compare houses that have more or less similar features to the house you wish to buy. This is one way of getting a better estimate of the price you can offer for the home. If you know the prices of other homes, then you can offer a reasonable price to offer the seller.
5. Make sure to set your limit. Do not go beyond your means just to get the house you want. If you think the price is too high for you and it may cause difficulty later on in paying it off, explain to the seller your offer and try to see if he or she is willing to accept it.
7. Some homeowners have emotional attachment to the home they are about to leave. You may be able to get a deal in your favor if you tell them that you love their home and you are very much interested in buying it. Sellers might prefer to sell a house to a buyer who empathize with them. Be careful in doing so because some seller might take advantage and will demand for a very high price for the house.
8. Do not hesitate to negotiate money off the asking price. If the home survey reveals some faults or damages in the home that might need repairs and your money put into it, consider this when you offer a price to the seller.
With this information, you can start to narrow down your asking price options and hopefully will lead you to a decision. This way you and your family can have the house of your dreams soon!

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Six Reasons Why Your House Won't Sell | ThinkGlink

2009-10-12T08:33:00.001-07:00

Six Reasons Why Your House Won't Sell | ThinkGlink

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