Gwyn Ayre 3 bedroom 2/12 bath.
299,900.
Showing posts with label Lower Gwynedd. Show all posts
Showing posts with label Lower Gwynedd. Show all posts
Thursday, December 31, 2015
Lower Gwynedd Townhome for sale
http://150474501.homesconnect.com/Search/ListingDetail_NoWebProd.aspx?lid=133092907
Tuesday, August 19, 2014
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Thursday, March 13, 2014
Wednesday, April 3, 2013
Staging for the Spring
Any home stager will tell you that “staging is staging” and the principals remain the same throughout the year—keep things clean, clutter free and colorful. But that doesn’t each season comes without its own brand of staging magic.
For spring, there are a number of things you can do both inside and outside to take advantage of the beautiful weather.
Barb Schwarz, creator of Homes Staging® and CEO of Stagedhomes.com, suggests adding splashes of color to your porch with potted flowers. She favors larger pots placed on each side of the front door bearing tulips or daisies with greenery in the middle.
Bringing spring colors into a home is just as easy, especially with accessories like throw pillows, area rugs, artwork, towels and bedspreads.
“Change accessories and the whole house changes,” Schwarz said. Swap-out decorative pillows on a sofa for a fresh, new look. “This year nature colors are really in; green is really big and hot orange is an accent that is strong.”
Designers recommend using other knickknacks that speak of spring, such as pears, eggs, sea shells, nature, leaf patterns in fabrics, wicker, real leather and rust metal as contrast.
Schwarz said it’s also a good idea to replace the drapery panels in a home or office. She recently changed a den from a daisy pattern in blue to cream plain panels that went from ceiling to the floor “and the whole room looked bigger and more elegant,” she said.
Of course, all rooms in the house are important and there are ways to liven up each one as the spring season blooms. You want the buyer to buy the whole house, not just one or two rooms staged, so it’s important to create a cohesive design.
Yet don’t forget your “great outdoors.” Clean up your yards, remove fallen leaves and dead plants, and trim bushes and hedges.
Indeed, spring brings more buyers so take advantage of all that the season has to offer.
Prudential Fox & Roach is an independently owned and operated broker member of BRER Affiliates, Inc. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
Thursday, September 27, 2012
Inspect for Code Violations Before you Sell
Inspect for Code Violations Before you Sell
Code violations can extend the home-selling process or halt it altogether. Therefore, it’s good business to hire a home inspector before placing your home on the market.
A quality home inspector is well-versed in all local codes dealing with electrical, plumbing, building/structural and more, and can help sellers understand any code violations and the steps and costs necessary to meet codes.
Code violations have a way of popping up in paperwork. When the city records a code violation, a fee is assigned to the property, but because the violations don’t appear as a lien on a title search, it can be difficult to ascertain whether a sanction has been assessed that will delay closing.
According to Code Violation Services Inc., Windsor, Colo., violations can include the presence of garbage in a yard, maintenance issues, overgrown lawns, non-sanctioned improvements, safety issues or other dangerous items needing repair in a property.
Here are some of the most common inspection problems:
Bedrooms -- All rooms listed as bedrooms must have an operating window with 30 square inches of clearance for fire escape. Bedrooms also must have heat. If a home is listed with three bedrooms, and one does not meet both these requirements, it cannot be legally called a bedroom.
Furnaces and Compressors -- Rust in the heat exchange is a common problem that shows up on inspections. So is missing insulation where required by code at the time the house was built or improvement or replacement was installed.
Electrical -- Common electrical code violations include junctions not enclosed in a junction box, a lack of GFCI outlets in bathrooms and kitchens or reverse-polarity on outlets. These are inexpensive fixes that can hold up a sale.
Life-saving Equipment -- Smoke and carbon monoxide detectors are required by law in most states, and by not having them—or having the proper kind—it will be considered a code violation.
Plumbing -- Violations can include everything from dripping faucets to loose toilets to improper drainage.
Structural -- While these can be more expensive to fix, if they aren’t taken care of properly, they can prolong or even cancel a sale. Common code violations include rotting wood trim around windows and doors, rotten or delaminating siding and missing flashing on roofs or above windows and doors.
Extra Rooms -- Many who renovate basements or add sunrooms do so without permits. For the safety of everyone involved, be sure your improvements and additions are backed by the proper permits and resulting inspections.
Don’t hurt your sale because of code violations that can be easily fixed. Get an inspector, make the changes and enjoy the comfort your efforts bring when the closing comes to fruition.
Prudential Fox & Roach is an independently owned and operated broker member of BRER Affiliates, Inc. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. Equal Housing Opportunity.
Thursday, March 29, 2012
Wednesday, November 2, 2011
Winter Is Approaching … Is your Home Ready?
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.
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.
Monday, October 24, 2011
Home Sellers: Five Tips to Make Your Bathroom Stand Out
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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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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Wednesday, October 12, 2011
Selling an Ugly Home
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
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
Monday, July 25, 2011
AVOID FORECLOSURE WITH A SHORT SALE
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
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
Tuesday, June 14, 2011
Mortgage Points: To Pay or not to Pay?
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.
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.
Friday, June 3, 2011
Work with A Realtor When Purchasing in 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.
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.
Sunday, April 17, 2011
10 Ways to Protect Your Family From Fires
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.
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.
Monday, April 4, 2011
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
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
Wednesday, March 9, 2011
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.
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.
Friday, March 4, 2011
Good Faith Estimate Vs HUD-1
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
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
Tuesday, March 1, 2011
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