Looking to Buy a Home

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

FREE SHREDDING EVENT

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 work with a Realtor for an Active Adult Community

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.

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

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

North Wales, Montgomery County Pa. New Construction Pulte Townhomes

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