Wednesday, July 7, 2010
Monday, April 19, 2010
Home Inspections Help You Sell Your Home
When you're ready to sell your home in the current market, you need to take every step you can to ensure a timely sale at the price you want. A surplus of homes for sale means that yours needs to stand out in style, amenities and quality to make an impression on potential buyers. The more steps you take to make your house sale-ready, the better results you'll get.
Currently, home sales are at a historic low—so what do you need to do to buck that trend? Updated decor and proper staging certainly help present your home well, but don't think that cosmetic fixes are all you need. Buyers want to know the home they're considering is safe and sound, and the best way to establish that is to hire a home inspector.
Twenty years ago, it seemed extravagant to hire a home inspector, but today it's standard practice. Buyers will often bring their own inspectors to the table, so you need to start by hiring one yourself. Hiring a professional will give you a realistic perspective on what's going on in the bones of your home. "In a down market, a pre-sale inspection can make a home stand out," says David Tamny, president of the American Society of Home Inspectors. "More and more, sellers are obtaining pre-sale inspections to help uncover and address potential issues before the first prospective buyer walks through the door. This simple step allows for better planning and lowers repair costs, adds value to the home, and it could increase the likelihood of an offer." Even if someone in your family is handy, a professional home inspector will be able to point out issues that might go unnoticed by someone who doesn't know the ins and outs of inspecting.
Today's buyers are quick to point out flaws uncovered by the home inspectors they bring with them, particularly if the flaws could compromise health or safety. Buyers can use problems as bargaining chips, causing previously agreed upon prices to be lowered or even the cancellation of a deal. Inspections help uncover imperfections that often can be fixed easily and inexpensively, so it's worth it to get your home inspected before you list it. In addition, a good inspection can raise the likelihood of an offer being placed on your home.
Buyers are looking for security. If you can show them your home has been inspected, they'll feel more comfortable with it. That confidence often equates to more dollars in your pocket when you agree to the sale. The areas covered in home inspections are: the major systems and components such as the foundation, exterior siding, flashing and trim, the roof, plumbing, electrical and heating and cooling units. In addition, some home inspectors offer additional services including radon testing, energy assessments and pool and spa inspections.
The current housing market requires a proactive approach to selling, and to get the result you want, you have to think about every aspect of your home. Having a home inspection can add value to the property, speed up the negotiation process, increase the likelihood of an offer and, most importantly, help sell your home.
Wednesday, April 14, 2010
Support the 40th Anniversary Earth Day Celebration - April 22, 2010
How the First Earth Day Came About
By Senator Gaylord Nelson, Founder of Earth Day
Actually, the idea for Earth Day evolved over a period of seven years starting in 1962. For several years, it had been troubling me that the state of our environment was simply a non-issue in the politics of the country. Finally, in November 1962, an idea occurred to me that was, I thought, a virtual cinch to put the environment into the political "limelight" once and for all. The idea was to persuade President Kennedy to give visibility to this issue by going on a national conservation tour. I flew to Washington to discuss the proposal with Attorney General Robert Kennedy, who liked the idea. So did the President. The President began his five-day, eleven-state conservation tour in September 1963. For many reasons the tour did not succeed in putting the issue onto the national political agenda. However, it was the germ of the idea that ultimately flowered into Earth Day. CLICK HERE to continue article.
Friday, April 9, 2010
20 Ways to Enjoy Springtime
Spring weather is definitely here, and depending on where you live, it might feel like you’re on a speeding train to summer (or maybe that’s just me).
This is one of my favorite times of year (it’s a tie with fall, I think), and it flies by much too quickly. Young children love being outside, so outdoor activities are just a few of the liturgical activities our families enjoy during the spring. In our air-conditioned, drive everywhere, year-round produce section world, it’s far too easy to ignore the rhythm of nature and life the way God orchestrates it. We are missing out.
Generations past appreciated each season for what it provided and for what it required, and we don’t want that to die with ours. So here are a few ways you can take full advantage of the spring with your family. Click Here to Continue Article
Tuesday, April 6, 2010
The 203(k) Mortgage Program
You should consider a 203(k) mortgage if you want to purchase a home that needs rehabilitation.
The top three benefits of a 203(k) program include:
1. Higher Loan Amounts: The 203(k) mortgage is based on the home's potential value (after repairs), not its existing value. This means you can be approved for a higher loan than if you were taking out a mortgage based on your home's current worth.
2. Simplicity: Without a 203(k) mortgage, if you wanted to buy a house that needed rehabilitation, you'd have to finance every step of the purchase and rehabilitation separately. This means you'd first have to get a loan to buy the home, and then find additional financing to cover the rehabilitation costs, and finally obtain a permanent mortgage after completing the rehabilitation. With the 203(k), you roll all these loans into one easy-to-manage mortgage.
3. Better Security: Without the help of a 203(k) mortgage, you have to just hope that all the money you spend on rehabilitation costs will be less than the value of the home after repairs are complete—and that you won't have to cover any unexpected costs out-of-pocket. A 203(k) mortgage covers the cost of repairs from the outset. Also, the mortgage usually carries a long-term-fixed rate, is insured as soon as the loan funds, and has an escrow account set up for the repairs.
Are there Restrictions?
There are some restrictions. For example, the home you want to purchase must be a one-to four-family dwelling that has been on its foundation for at least one year. The number of units must adhere to local zoning requirements. Any newly constructed units must be affixed to the existing home.
The 203(k) Mortgage Program By Antonia Anderson Photo: © William Britten - iStockphoto
Monday, April 5, 2010
Every Home Needs a Deep Spring Cleaning
In your busy daily life, it is difficult to find time to run a vacuum over the floor and clean the bathroom on a regular basis. Even when you find time to do a thorough basic cleaning job, dust, dirt, and grime still builds up in places you seldom clean, such as your baseboards, blinds, and ceiling fans. With a thorough “spring” cleaning, which actually should be done two to three times a year, you can get by the rest of the year with simply a basic cleaning job while the demands of your busy life take over.
It's a Big Job.
A thorough cleaning of your house entails cleaning every nook and cranny, from vacuuming under the couch to dusting the uppermost corners of your walls, and everything in between. Ideally, you will take a few weekends, taking one or two rooms of the house per day, and really do a thorough job. Open up every drawer and cabinet. Make piles of things to throw out and donate to a charity. If things have made their way into the wrong room of the house, put them back in their place. If you find that a particular section of your house is exceptionally disorganized, spend some time organizing it in a way that fits with your family's lifestyle. Perhaps purchase a shoe rack or buy storage bins where necessary.
Clean Everything!
During a normal housecleaning, you may vacuum and dust. When you are spring cleaning, you want to clean every nook and cranny of each room, including your baseboards and windowsills. When you are cleaning out drawers, wipe them down with a cloth to clean out any dust or debris. Vacuum out the closets and wipe down the blades of the ceiling fans. After a thorough cleaning of the carpeted areas, steam clean your carpets with a rug cleaner or have them professionally cleaned to get all of the trampled in dirt and grime out of the carpets.
Complete Side Projects.
If you've been putting off small maintenance items, such as touch up paint in the kids rooms or greasing a squeaky door hinge, now is the perfect time to do it. Change that burned out light in the closet. If the kids have outgrown some of their larger toys, such as a train table or dress-up vanity, remove these items as you go. As you go through each room of your home, make a point of getting each room in perfect, tip-top shape and complete those small tasks. When these small items build up over the course of weeks and months, your list of to-do items around the house can seem daunting. But when these items are tackled room by room, they are broken down into much more manageable workloads.
You can do spring cleaning any time of year, giving you a fresh, clean house you can relax in and enjoy. In addition, a thorough spring cleaning of your house will give you the luxury of a clean house for months to come with a simple, basic cleaning job.
Thursday, April 1, 2010
Check Out My April Newsletter!
Monday, March 29, 2010
The Top 5 Tax Perks for Buyers, Sellers and Homeowners - 2009 Tax Edition
It's tax time, but it doesn't have to be excruciating, especially if you bought, sold or owned a home in 2009.
While so many of us think of tax time as time to write a check, the Obama Administration's stimulus package promised to reverse that tradition, effectively writing a check (in tax credit format) to buyers, sellers and even short sellers and those who lost a home through foreclosure.
CLICK HERE for a quick list of tax tips to your personal tax guru and cash in your check from Uncle Sam!
Saturday, March 27, 2010
Opening Your Swimming Pool... YEAH! :D
I am SO EXCITED that Summer is right around the corner. We had a beautiful inground pool installed last fall, so this will be our first season to get out there and really enjoy our backyard! I've been researching a ton of stuff about pools - and found this one article about opening your pool by yourself. I thought I would share. ENJOY and Swim Safetly :D
CLICK HERE to read the article How to Open Your Swimming Pool
Wednesday, March 24, 2010
Check Out My NEW Website! www.GinaStango.com
Check out my new website at www.GinaStango.com
For all of your Real Estate Buying, Selling, Relocation, Investment and Searching needs in Montgomery, Berks, Bucks and Chester County. Search for homes in Gilbertsville, Collegeville, Limerick, Pottstown, Red Hill, Douglassville, Boyertown and the surrounding areas. School Districts: Boyertown Area, Perkiomenville, Pottstown and Springford.
Tuesday, March 23, 2010
Monday, March 22, 2010
How to Put Out an Electrical Fire
Last night I was folding laundry and all of a sudden heard a bunch of sparking and smelt smoke coming from our fish tank. Luckily the breaker jumped shortly after to contain any possible electrical fire, but for a split second I wasn't sure what to do. Attached is an article from eHow on what to do if this or something similar should happen to you.
Contributor By an eHow Contributing Writer Article Rating: Many people think they are prepared for a fire, but there are different kinds of fires and not all of them can be treated the same way. Just because you have a fire extinguisher in your home, doesn't mean you can use it to combat any fire. Electrical fires are one type of fire that must be attacked in a precise way in order to put out the flames quickly and safely. CLICK HERE to read more.
Saturday, March 20, 2010
Single-Family Starts Hold Firm in February 2010
The pace of single-family home production remained virtually unchanged in February 2010, with a 0.6% decline to a seasonally adjusted annual rate of 499,000 units, according to figures recently released by the U.S. Commerce Department. Meanwhile, a large decline on the more volatile multifamily side brought the overall number of housing starts down 5.9% to a seasonally adjusted annual rate of 575,000 units. CLICK HERE to continue article.
Friday, March 19, 2010
ZIP Realty Real Estate Application for Android
Now, real estate goes where you go! With ZipRealty's Android app you can get current information on homes for sale right around you, or for homes on the other side of the country.
ZipRealty's Android app allows you to:
Exclusively designed for the Android. Try it for free. You'll love it.
Download ZipRealty's app for free from the Android Marketplace on your phone. And don't forget to rate us!
Thursday, March 18, 2010
What's on your new home checklist? Visit a home with me, and you could win $5,000!
Here's How:
1. Find a home that you're interested in visiting.
2. Click the "Request a Showing" button.
3. Fill out days and times that will work best for you to visit the property, and I will follow up shortly.
4. Visit the property and you'll be automatically entered to win $5,000!
Why ZipRealty?
You'll be working with a professional, responsive and reliable ZipAgent who is dedicated to helping you find your ideal home.
Over 77,000 people have worked with us to buy or sell their home.
We've sold over 10 billion in home sales revenues.
Our client satisfaction rating is 96%!
About us: We're a full service residential real estate brokerage that is focused on you, our client, and how we can best serve your needs during the process of buying or selling a home. That's why we designed a website that has comprehensive search tools, up-to-date property information, and valuable tips - all available at your fingertips 24/7. When you're ready to start seeing homes in person, I will arrange viewing at the earliest possible date, provide you with expert advice along the way, and work with the seller's agent to close the deal once you find your ideal home.
Tuesday, March 16, 2010
Time to Invest in Housing?
Is now the time to invest in housing? ZIPRealty's CEO Pat Lashinsky speaks about housing and cash buyers. CLICK HERE to view the video.
Monday, March 15, 2010
Get 3 Home Estimates for FREE Instantly!
Wondering what your house is worth in today's market? Get 3 Home Estimates for FREE Instantly! Just CLICK HERE
Sunday, March 14, 2010
OPEN HOUSE Today! :D
Stop by for my Open Hosue TODAY from 1:00- 3:00 at 724 E. 2nd Street in Birdsboro.
For more information about this listing, please CLICK HERE.
Friday, March 12, 2010
How to Hire a Pumber, Electrician, Exterminator, Housepainter and Roofer.
The number one rule in hiring any service professional: Get references. Word of mouth from friends and neighbors is the best way to find a good worker who'll deliver great results. You can also search user reviews on Websites like servicemagic.com (free to use, because prescreened member contractors pay to belong) or angieslist.com (subscription-based, but with no sponsor companies).
Ask anyone you hire about minimum charges, and what might cause the price to go up from the quote. Inquire about insurance (in case of injury, or damage to your or others' property), and about professional affiliations and accreditation. Read contracts carefully. Here, some specifics to ask a prospective...
Plumber
- Do you specialize in repair work or remodeling? Some may do both, but you'll get better rates and results if their expertise matches the job you need handled.
- Do you charge for travel time? Plumbers spend a lot of time on the road; their hourly rate may include driving to and from your house.
- Are you likely to have the necessary parts handy? A plumber worth his or her salt should be fully stocked; you don't want to get stuck paying for multiple supply-gathering trips.
Electrician
- Do you need a permit to do the work? They're usually needed only on larger jobs, and require that the wiring be inspected by your town (this can protect you against shoddy work). Discuss who'll be filing for the permit, and what it will add to the cost.
- Will you buy the fixtures or parts for me? It's generally preferable, because the electrician will then be responsible for the product warranty and any breakage or missing pieces.
Exterminator
- Will we need to leave the house? Are there any risks to people or pets? All pesticides should be EPA-certified, but there may be safety steps you or the exterminating crew need to take.
- How soon will the critters be gone? Total eradication may not happen after just one visit.
- Are return visits covered in the cost? Many firms offer 30- or even 90-day guarantees.
Housepainter
- What is included in the service? From masking off of unpainted areas to moving of furniture (for interior jobs), priming, and multiple coats of paint, all should be delineated in the contract, as well as what supplies and tools (brushes, rollers) are included.
- Can you get a discount on paint? A good painter has a relationship with a supplier to get you the best price on the best product for the job.
Roofer
- Should I repair or replace? Leaks are often difficult to diagnose, and a repair in one spot may not fix the whole problem. Recommendations will vary, so get three estimates.
- Will you be roofing over existing shingles? If the basic structure is sound and leaks will be easy to patch, a cover-up job is far more cost-effective; if you already have two layers, most building codes require removal and replacement. This should be factored into the quote.
- Is there a warranty or guarantee? There should be both: The manufacturer backs the materials for defects, while the work may be covered for up to 10 years by the roofer.
- By Amy Roberts, Good Housekeeping
Thursday, March 11, 2010
OPEN HOUSE on Sunday from 1:00-3 at 724 E 2nd Street in Birdsboro, PA
OPEN HOUSE
Sunday Mar 14th
1:00 - 3:00
Be prepared to fall in love with this Charming Cozy Cape with hardwood floors throughout. From the moment you enter, the quality makes it apparent that this home is special. Relax by the fire in the comfortable, spacious living room. The entire home has just been repainted. The unique built-in shelves and alcove are so quaint. The upstairs master bedroom is actually two rooms that flow together, make it a sitting room, or 2 separate bedrooms. This floor plan is NOT your typical cape. Enjoy a romantic dinner in the adorable dining room. Leave through the private side door and you ll find outside this exceptional home is a very large yard with a great driveway and charming slates.
This well maintained,… Show more lovely home even has central air. It is very conveniently located near Route 724 and 422. 1 Year AHS home warranty provided by the seller. Come see for yourself and be prepared to want to stay.
Wednesday, March 10, 2010
What's On Your New Home Wishlist? You Could Win $5,000!
Here's How:
1. Find a home that you're interested in visiting.
2. Click the "Request a Showing" button.
3. Fill out days and times that will work best for you to visit the property, and I will follow up shortly.
4. Visit the property and you'll be automatically entered to win $5,000!
You'll be working with a professional, responsive and reliable ZipAgent who is dedicated to helping you find your ideal home.
Over 77,000 people have worked with us to buy or sell their home.
We've sold over 10 billion in home sales revenues.
Our client satisfaction rating is 96%! About us: We're a full service residential real estate brokerage that is focused on you, our client, and how we can best serve your needs during the process of buying or selling a home. That's why we designed a website that has comprehensive search tools, up-to-date property information, and valuable tips - all available at your fingertips 24/7. When you're ready to start seeing homes in person, I will arrange viewing at the earliest possible date, provide you with expert advice along the way, and work with the seller's agent to close the deal once you find your ideal home.
Housing Help for Unemployed, Underwater Borrowers
The jobless may not be getting much help from President Obama's loan modification program, but those in Pennsylvania have another place to turn. The Pennsylvania Housing Finance Agency offers the jobless and those suffering financial hardship loans of up to $60,000 for as long as three years to cover their monthly payments or take care of their arrears.
Created in 1983, the program boasts an 80% success rate in preventing foreclosures. "If you allow people some time to find a job, they can keep their home, which saves their family, their neighborhood and their communities," said Brian Hudson, the agency's executive director. The emergency mortgage assistance program, which is funded by the state and borrowers' repayments, has come into the spotlight in recent weeks as the president searches for a way to help the unemployed stay in their homes.
The administration late last month announced a $1.5 billion initiative that gives money to the states hardest hit by the mortgage crisis: Arizona, California, Florida, Michigan and Nevada. The effort calls for the states' housing authorities to assist the jobless and those who are underwater -- meaning they owe far more than their homes are worth. Already, officials in Nevada, California and Florida have been in touch with Hudson to learn how to replicate Pennsylvania's program, which has distributed $450 million on behalf of 43,000 homeowners since inception. Similar efforts also exist in Delaware, North Carolina and Massachusetts.
Here's how the Pennsylvania program works: Housing counselors send the agency applications of those suffering temporary hardships beyond their control, Hudson said. Those approved could have their arrears wiped out, their monthly mortgage obligation covered, or both. Hudson attributes the program's success to a careful inspection of applicants' financial backgrounds, which are reviewed annually. Those who've racked up credit cards debts are not likely to gain approval, for instance. Those likely to land a job within a few months or years are. "You must have a reasonable prospect of resuming full payments within 36 months and of paying the mortgage in full," Hudson said. Loan payments are made directly to the servicers and a lien is placed on the property. The aid is repaid at a 5.25% interest rate over 10 years on average, though the borrower's financial circumstances are taken into account.
For Erin and Robert Smith, the loan program helped them keep a roof over the heads of their three children. The Harrisburg, Pa. couple had no problem handling the $2,000 monthly payment on their home ... until they lost their jobs in 2008. Their loan servicer refused to help them, instead sending them a foreclosure notice. But the Pennsylvania agency stepped in, giving them a $30,000 loan to cover their arrears and real estate taxes. "All we needed was a break," said Erin Smith, 33. "We knew once we found employment, we could start making those payments."
The Smiths are among the 3,250 homeowners that the housing agency's mortgage assistance program saved from foreclosure last year. A record 14,000 homeowners applied for help in 2009, up from 10,000 in most years. "Not too many mortgage companies say we'll only take a small payment until you get back on your feet," said Linda Harvan, a foreclosure intervention counselor with Action Housing in Pittsburgh. Such loan programs are not that easy to administer, however.
Fannie Mae unveiled a similar program, HomeSaver Advance, in 2008 to help those suffering temporary financial hardships. It provided unsecured loans of up to $15,000 that borrowers could use to clear their arrears. But the program was effectively discontinued within a year after redefault rates soared to nearly 70%.
By August 2009, HomeSaver Advance accounted for only 3% of Fannie Mae's foreclosure prevention actions, down from 42% a year earlier. Awilda Mercado is thankful that the emergency loan program in Pennsylvania continues to serve the state's residents. In 2008 she lost her factory position and her husband had an on-the-job accident that left him unable to work. To help her stay in her York, Penn., home, the agency took care of her arrears of $7,386 and paid four months of her mortgage. 0:00 /3:58The challenges facing job growth Now that she's receiving unemployment and her husband is on disability, the Mercados have been able to resume their mortgage payments. They also are reimbursing the housing agency, often sending in more than the $25 minimum payment. "They helped me not only save my home, but got me back on my feet," said Mercado, 52, who has three grown children.
By Tami Luhby, CNNMoney.com
Tuesday, March 9, 2010
Saving Money with Salvaged Building Materials
If you're looking to improve your home on the cheap, consider using salvaged building materials. Besides being less expensive than new materials, secondhand features can add character, quality, and value to your home. But note that the savings in dollars may require a greater investment in time and effort.
Remodeling with secondhand building materials has many fans. Some are owners of historic houses who improve their homes by adding period elements. Others follow green building practices and appreciate conserving resources and keeping materials out of landfills. And still others are looking for quirky elements that will break their homes out of cookie-cutter molds.
Recycled building materials are getting easier to find According to the Building Materials Reuse Association, recycling is becoming more common in the construction industry. That means reclaimed building elements like doors, windows, plumbing fixtures, and wood flooring are increasingly easy to find.
Habitat for Humanity’s nationwide chain of ReStores sells recycled items, and many cities have architectural salvage yards. Online, neighbors advertise unwanted items on community bulletin boards, such as Craigslist, and national directories of recycled materials, such as EcoBusinessLinks, can be great sources for hard-to-find elements. And the price is right: reused pieces can be 50% to 75% cheaper than their new counterparts.
Searching for salvaged materials Sounds terrific, right? But it’s not that simple. Using recycled building elements is like shopping at a thrift store: You can’t be certain you’ll find exactly what you’re looking for. Anyone interested in a good deal to spruce up their home—an ornate wood mantelpiece or a set of Victorian doors, for example—has to be willing to compromise on some of the details and commit some time to the endeavor. If you live in or near a city and have access to a salvage yard, you’re in luck. Many receive multiple new shipments daily, and some, such as Seattle’s Second Use, post their offerings online. But in most cases, there’s no substitute for regularly showing up in person to check out what’s available.
If you’ve got something particular in mind, plan on spending a few afternoons at the salvage yard trying to track down what you’re looking for. The same is true if you’re exploring online: locating the right piece may take longer than you’d expected.
Before beginning your search, make sure you’ve got measurements in hand. It’s useful if you can allow for some wiggle room: unlike big home improvement stores, the items on sale are usually one-of-a-kind pieces. So while a recent truckload might have dropped off a beautiful old mantelpiece, the size might not be an exact fit; know in advance if you can manage with a slightly larger or smaller size.
Some old items need to be treated with serious care. Ruthie Mundell of Community Forklift, a salvage yard in Edmonston, Md., says that the staff tries to flag items that appear to be lead paint hazards—that is, anything painted prior to 1978, when the Consumer Product Safety Commission (CPSC) banned lead in paints. Nevertheless, buyers of old painted items need to be aware of the potential hazards. Older paint doesn’t mean the pieces are unusable, but the paint must be thoroughly removed or sealed—never scraped or sanded. The CPSC offers guidelines for treating lead paint in the household.
Finding savings Some salvaged pieces are better deals than others. The best is often flooring: careful shoppers can find used floor boards from quality old wood that’s difficult to come by these days. Sat Jiwan Ikle-Khalsa, a green living consultant in Takoma Park, Md., scoured a local salvage yard and found maple, white oak, and rare heart pine flooring at a low price for his renovated 1940s-era home. He estimates he saved more than $2,000 over the cost of new flooring.
Other useful finds are doors, particularly those already on a frame, and plumbing elements. Antique light fixtures can be a great bargain, but check whether they’ve been recently rewired before you buy; otherwise, you may have to do it yourself, or pay an electrician for the service.
Windows are common, but many older widows are single-pane and not energy efficient. These are better used for interior walls to add light and air flow between rooms.
Stained glass panels are relatively common at salvage yards and cost from $50 to $500. Sample price comparisons for various salvaged materials Salvaged oak flooring: $1 to $3 per sq. ft. New oak flooring: $4 to $10 per sq. ft. Average savings for 12x16-foot room: $960 Salvaged interior solid panel door (basic): $20 to $50 New interior panel door: $200 to $400 Average savings: $265 Secondhand pedestal sink: $20 to $250 New pedestal sink: $100 to $800 Average savings: $315 Recycled crown molding: $.30 to $1 per lineal ft. New crown molding: $.90 to $3 per lineal ft. Average savings for 12x16-foot room: $72.80 Don’t forget to add in transportation costs. Not all salvage yards deliver, and those that do aren’t necessarily cheap: the cost of getting materials across town could be $100 or more. It might make more sense to borrow or rent a truck on your own.
The value of salvage building components Salvaged elements may not add to a home’s appraised value, according to Chicago appraiser Tim McCarthy, president of T.J. McCarthy and Associates. An appraiser probably won’t include a home’s reclaimed heart pine beams in the kitchen or the bathroom’s antique plumbing fixtures when calculating the house’s value. But that doesn’t mean the seller can’t use those amenities as selling points and boost the asking price accordingly. “It’s very market-specific,” McCarthy says. In higher-end neighborhoods, homebuyers may be willing to pay more for authentic elements that give a house personality. McCarthy recommends talking with a local realtor before making changes; they’ll have a good sense of the housing market’s current demands and should be able to tell you whether a vintage element will boost your home’s market value.
To effectively integrate salvaged items, Arne Mortensen, owner of Mortensen Design/Build in Seattle, recommends choosing a contractor who has a particular interest and experience in working with recycled building materials. Salvage yard staffs may be able to recommend someone; other sources for ‘green’ contractors include online sites like Angie’s List. Nonetheless, the time-consuming legwork of finding good pieces generally falls to the homeowner.
To make the process easier, spend time thinking about and researching online what you want before you begin to shop. And be prepared to be persistent; happy hunting takes patience.
By: Amanda Abrams, House Logic
Monday, March 8, 2010
Program to Pay Homeowners to Sell at a Loss
In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave. This latest program, which will allow owners to sell for less than they owe and will give them a little cash to speed them on their way, is one of the administration’s most aggressive attempts to grapple with a problem that has defied solutions.
More than five million households are behind on their mortgages and risk foreclosure. The government’s $75 billion mortgage modification plan has helped only a small slice of them. Consumer advocates, economists and even some banking industry representatives say much more needs to be done.
For the administration, there is also the concern that millions of foreclosures could delay or even reverse the economy’s tentative recovery — the last thing it wants in an election year. Taking effect on April 5, the program could encourage hundreds of thousands of delinquent borrowers who have not been rescued by the loan modification program to shed their houses through a process known as a short sale, in which property is sold for less than the balance of the mortgage. Lenders will be compelled to accept that arrangement, forgiving the difference between the market price of the property and what they are owed. “We want to streamline and standardize the short sale process to make it much easier on the borrower and much easier on the lender,” said Seth Wheeler, a Treasury senior adviser.
One owner's case The problem is highlighted by a routine case in Phoenix. Chris Paul, a real estate agent, has a house he is trying to sell on behalf of its owner, who owes $150,000. Mr. Paul has an offer for $48,000, but the bank holding the mortgage says it wants at least $90,000. The frustrated owner is now contemplating foreclosure. To bring the various parties to the table — the homeowner, the lender that services the loan, the investor that owns the loan, the bank that owns the second mortgage on the property — the government intends to spread its cash around. Under the new program, the servicing bank, as with all modifications, will get $1,000. Another $1,000 can go toward a second loan, if there is one. And for the first time the government would give money to the distressed homeowners themselves. They will get $1,500 in “relocation assistance.” Should the incentives prove successful, the short sales program could have multiple benefits.
For the investment pools that own many home loans, there is the prospect of getting more money with a sale than with a foreclosure. For the borrowers, there is the likelihood of suffering less damage to credit ratings. And as part of the transaction, they will get the lender’s assurance that they will not later be sued for an unpaid mortgage balance. For communities, the plan will mean fewer empty foreclosed houses waiting to be sold by banks.
By some estimates, as many as half of all foreclosed properties are ransacked by either the former owners or vandals, which depresses the value of the property further and pulls down the value of neighboring homes. ‘Tailor-made for fraud’ If short sales are about to have their moment, it has been a long time coming. At the beginning of the foreclosure crisis, lenders shunned short sales. They were not equipped to deal with the labor-intensive process and were suspicious of it. The lenders’ thinking, said the economist Thomas Lawler, went like this: “I lend someone $200,000 to buy a house. Then he says, ‘Look, I have someone willing to pay $150,000 for it; otherwise I think I’m going to default.’ Do I really believe the borrower can’t pay it back? And is $150,000 a reasonable offer for the property?”
Short sales are “tailor-made for fraud,” said Mr. Lawler, a former executive at the mortgage finance company Fannie Mae. Last year, short sales started to increase, although they remain relatively uncommon. Fannie Mae said preforeclosure deals on loans in its portfolio more than tripled in 2009, to 36,968. But real estate agents say many lenders still seem to disapprove of short sales. Under the new federal program, a lender will use real estate agents to determine the value of a home and thus the minimum to accept. This figure will not be shared with the owner, but if an offer comes in that is equal to or higher than this amount, the lender must take it. ‘In a perfect world ...’ Mr. Paul, the Phoenix agent, was skeptical. “In a perfect world, this would work,” he said. “But because estimates of value are inherently subjective, it won’t. The banks don’t want to sell at a discount.”
There are myriad other potential conflicts over short sales that may not be solved by the program, which was announced on Nov. 30 but whose details are still being fine-tuned. Many would-be short sellers have second and even third mortgages on their houses. Banks that own these loans are in a position to block any sale unless they get a piece of the deal. “You have one loan, it’s no sweat to get a short sale,” said Howard Chase, a Miami Beach agent who says he does around 20 short sales a month. “But the second mortgage often is the obstacle.”
Major lenders seem to be taking a cautious approach to the new initiative. In many cases, big banks do not actually own the mortgages; they simply administer them and collect payments. J. K. Huey, a Wells Fargo vice president, said a short sale, like a loan modification, would have to meet the requirements of the investor who owns the loan. “This is not an opportunity for the customer to just walk away,” Ms. Huey said. “If someone doesn’t come to us saying, ‘I’ve done everything I can, I used all my savings, I borrowed money and, by the way, I’m losing my job and moving to another city, and have all the documentation,’ we’re not going to do a short sale.” But even if lenders want to treat short sales as a last resort for desperate borrowers, in reality the standards seem to be looser.
Copyright © 2010 The New York Times
Sunday, March 7, 2010
Do a Home Search by Local Neighborhood Names!
You can now do a Local Home Search by Neighborhood Name with ZipRealty! Download the software for FREE CLICK HERE!
This feature gives ZipRealty’s clients even more map information to better understand the neighborhoods in which they are shopping. “Our clients have told us that searching and comparing properties by neighborhood is essential to purchasing a home,” said Myron Lo, VP of Innovation at ZipRealty. “After researching various providers, Maponics showed that they provided the best data and solutions to fit our needs.” The integration of Maponics Neighborhood BoundariesTM data will allow ZipRealty clients to search by locally-known neighborhood names, resulting in better search results.
“ZipRealty is the first national real estate brokerage to recognize the importance of mapping in the online real estate space,” says Mark Friend, Maponics VP of sales and marketing. “We are proud to provide the neighborhood boundary data that will form the backbone for their incredibly useful local real estate guides, heat maps and sales comparison information.”
Saturday, March 6, 2010
Enjoy the SPRING Day!
What a FAB-U-LOUS Day! I'd LOVE to SPRING around town to help you find your Dream Home! Not going to be sitting infront of a computer for long... contact me at 1-800-CALL ZIP ext. 3405
Friday, March 5, 2010
Fabulous Spring Weekend to Search for a Home!
What a FAB-U-LOUS Weekend we have ahead of us! I'd LOVE to SPRING around town to help you find your Dream Home!
To search for homes, see what your home is worth, check your credit score, figure out closing costs, get driving directions, recieve e-mail notifications or get pre-approved - visit my website today at www.GinaStango.com PLUS get 20% of commission back to buy new furniture or decor for your home!
Wednesday, March 3, 2010
5 Thing You Should Know About Your Credit Score
By now most people are aware of the importance of their credit score and the huge financial costs and hassles that a bad score can cause. However, there're still many misconceptions regarding credit scores. We spoke to one of the premier credit reporting services, GoFreeCredit.com about the most common mistaken beliefs that people have:
Checking my credit score can hurt my score
You may have heard that the very act of checking a credit score can have a negative impact on your score. Its true - completing a credit application can actually reduce your score by 10 points each time. However, using a service such as GoFreeCredit allows you to access your credit ratings without affecting your score.
I checked my score and everything looked good - so I am fine
You actually have three scores because there are actually three credit tracking agencies; Experian, Equifax and Transunion. It's possible that you have a different score with each, as any one of them may have received incorrect or detrimental information about you. You should always check all three of your credit scores as you never know which one your bank or credit card company will use. Reputable services like GoFreeCredit.com will always check all three of your credit scores for you.
If I am a victim of ID theft, I will be notified by my bank or Credit Card Company
Unfortunately many victims of identity theft discover far too late that they are victims. If a criminal uses your identity to take out a loan you may only find out when the creditor contacts you looking for re-payment. However, regular monitoring of all your credit scores is a great way to immediately spot when someone is attempting to illegally use your identity so that you have a chance to stop the crime takes place.
My credit card company can't cancel my card without warning
Unfortunately they can and increasing they do. More and more credit card companies are tightening their risk profiles and eliminating customers that deem too risky. They often mail out a cancellation notice at the same time as they pull the card, leaving many consumers embarrassed to discover what has happened when they try to use the card at the register. Ensuring that any negatives on your account are corrected or removed will ensure this does not happen to you.
Checking and managing my credit ratings is a hassle
The good news is there is a quick and easy way to view your official credit report and credit score online instantly. Start by visiting GoFreeCredit.com. The site not only lets you see your free credit report and credit score, but also offers a free 3 bureau credit monitoring trial. The service helps you keep an eye on your credit and protect against identity theft with instant alerts of any changes to your credit report or score. So you can just sit back and let them do the work.
This article sponsored by GoFreeCredit.com Copyright Howlifeworks.com 2010
Tuesday, March 2, 2010
Attention Real Estate Investors: Anti-Flipping Rule Suspended
Real estate investors and house flippers all over the United States are celebrating: HUD has suspended its anti-flipping 90-day seasoning rule for a year. This means you can buy a HUD-owned home and flip it immediately to an FHA insured buyer—no need to hang on to the property (and a mortgage) for three full months, or turn FHA-insured buyers away. This is huge news for those who want to make some money in the housing market this year.
Individuals and real estate investing LLCs are now allowed to move homes through the books much faster. It's not a free-for-all, though, because some rules must still be followed:
• There must be no “identity of interest” between the seller and the buyer. This simply means that the transaction must be arm's length and above board.
• The seller must actually hold title to the property. This means that the seller must acquire the property completely and have the title transferred into his or her name or company name before selling it to an FHA insured buyer.
• LLC and corporate buyers must be legally established with state governments and operating under all state and Federal laws.
• The property must not have been flipped within the last 12 months. Multiple title transfers could raise a red flag for HUD.
• The property must be marketed openly through a real estate agent, an MLS listing, via public auction, or by the owner. In other words, no under the table deals.
• The new buyer's price cannot be more than 20 percent above the seller's purchase price. This cap protects potential homeowners from predatory practices. However, there is an important caveat: If the seller significantly improves the property and an appraiser agrees, the profit can be more than 20 percent.
Whether you buy and flip one property or a dozen this year, your market of potential buyers has just grown exponentially. Take advantage of the rule change before time expires in 2011. Find out more about this significant rule change by visiting the HUD website at hud.gov, or read the rule change at www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf.
Monday, March 1, 2010
Check Out My March Newsletter!
Hot off the Presses... Check out my March Newsletter filled with information on Anti-Flipping Rules, Investing in Kitchen and Bathrooms to Sell Your Home, and Home Improvements - Should you do it yourself? Click HERE to access these articles. For more information about Buying or Selling your Home in Boyertown, Collegeville, Gilbertsville, Limerick or Pottstown - Please contact Gina Stango at ZIP Realty at 1-800-CALL ZIP ext. 3405 or gina.stango@ziprealty.com
Happy Monday! :D
Sunday, February 28, 2010
ZipRealty Utilizes Maponics' Neighborhood Boundary Data
In an effort to improve its property search and map display, ZipRealty, Inc., a national real estate brokerage has partnered with Maponics, LLC, a Norwich, Vermont-based provider of neighborhood boundary data.
“Our clients have told us that searching and comparing properties by neighborhood is essential to purchasing a home,” said Myron Lo, VP of innovation at ZipRealty. “After researching various providers, Maponics showed that they provided the best data and solutions to fit our needs.” According to ZipRealty, its new alliance with Maponics will give its clients even more map information to better understand the neighborhood in which they are shopping.
In addition, the integration of Maponics’ neighborhood boundaries data will allow ZipRealty homebuyers to search by locally-known neighborhood names, resulting in better search results.
“ZipRealty is the first national real estate brokerage to recognize the importance of mapping in the online real estate space,” says Mark Friend, Maponics VP of sales and marketing. “We are proud to provide the neighborhood boundary data that will form the backbone for their incredibly useful local real estate guides, heat maps, and sales comparison information.”
ZIPRealty - Buy a Home and Get 20% of Our Commission Back!
Do you know about the ZipRealty Rebate Program? We rebate 20% of our commission back to our buyer clients either as a credit at settlement or a check within 30 days of closing. Here's a link so you can calculate what the rebate amount would be: http://www.ziprealty.com/buy_a_home/rebate.jsp
Friday, February 26, 2010
Gina Stango recieves VIP Status on Trulia
Gina Stango has recieved VIP Status for her contributions to trulia. Trulia VIPs are the top members of the Trulia Voices community. They are always available to answer community questions or write informative blogs and they consistently post content that is rated helpful by other members.
To check out Gina's trula BLOG, please CLICK HERE
Thursday, February 25, 2010
Bring Garden Cheer Into Your Home
Bring Garden Cheer into your home with a SPLASH of COLOR!
Today's the day to start planning your home projects...
What better thing to do in the SNOW :D
Wednesday, February 24, 2010
Home Buyer Tax Credits - Tax Credits Provide Outstanding Opportunities for Home Buyers
The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. It also authorized a tax credit of up to $6,500 for qualified repeat home buyers.
CLICK HERE for information about:
- Frequently asked questions about the $8,000 first-time home buyer tax credit.
- Frequently asked questions about the $6,500 tax credit for repeat home buyers.
- Some key points for prospective home buyers.
- Special rules that apply to members of the military, the foreign service and the intelligence community.
Then search for your DREAM HOME on www.GinaStango.com Want to chat over a cup of coffee? Give me a call at 1800-CALL ZIP ext. 3405 and we will set up an appointment today! :D
Home Buyer Tax Credits - Tax Credits Provide Outstanding Opportunities for Home Buyers
The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. It also authorized a tax credit of up to $6,500 for qualified repeat home buyers.
CLICK HERE for information about:
- Frequently asked questions about the $8,000 first-time home buyer tax credit.
- Frequently asked questions about the $6,500 tax credit for repeat home buyers.
- Some key points for prospective home buyers.
- Special rules that apply to members of the military, the foreign service and the intelligence community.
Then search for your DREAM HOME on www.GinaStango.com Want to chat over a cup of coffee? Give me a call at 1800-CALL ZIP ext. 3405 and we will set up an appointment today! :D
Tuesday, February 23, 2010
You May Have Too Much Debt But You Also Have Options
If you feel like you're in over your head with personal debt, you're not alone. Millions of Americans have become overextended, many as a result of easy credit and the recessions. Credit cards, medical bills, personal loans and raising interest rates do not make a good financial mix. The 5 strategies you may want to avoid:
The first advice of experts in the field is to be sure you don't make your situation worse by making common mistakes. In particular:
1.Beware of just paying the minimum payments. This will results in your overall debt actually growing and your problems will only become worse.2.Beware of relying on friends and family as it could damage relationships with the most important people in your life.
3.Beware of unscrupulous credit counselors that demand cash upfront or high fees for help they promise, but don't deliver.
4.Avoid taking out a new high-interest loan to pay off lower interest rate loans. It may be easier to just have one payment but it will actually increase the amount you have to pay back.
5.Declaring bankruptcy when debt settlement may work for you...
Debt Settlement or Bankruptcy
Two common solutions people turn to are debt settlement and bankruptcy. Generally, if you are struggling with a financial hardship and are behind or falling behind on your minimum payments, then debt settlement may be right for you. If your situation is more dire, then you may consider bankruptcy. However, bankruptcy is a serious step with long term implications for you and your financial future. Most experts would suggest it only as a last resort. The better course is to attempt to work through your debt issue with your creditors and this is where debt settlement companies can help.
What is Debt Settlement?
You may have heard companies advertising recently that they can get much of your debt eliminated. Is this process legitimate? Working with a Debt Settlement company can actually be a great solution for many people struggling with a financial hardship. Debt settlement is the process of negotiating with your creditors to get them to forgive a potion of your debt. Specialty settlement companies determine a reasonable monthly amount that you can afford to pay, which is based on total amount owed. You make your affordable payment every month into a special purpose account, and as these funds accumulate, the settlement company reaches out to creditors to negotiate a final actual settlement amount. Typically these companies have excellent relationships with creditors and are negotiating on behalf of thousands of people every day.
Every situation is different, but it is not uncommon for debt settlement companies to be able to negotiate a reduction that of as much as 50% of what you owe.
So, how to find a legitimate and trustworthy debt settlement company to work with? A great way to start is by visiting Freedom Debt Relief for a free, no-obligation consultation to evaluate your options.
This article sponsored by FreedomDebtRelief.com Copyright Howlifeworks.com 2010
Monday, February 22, 2010
The Snow is Melting in PA... Great Time to Search for that Perfect Home!
With the snow melting - now is a great time to get out there and start searching for your "Place to Call Home" in Gilbertsville, Collegeville, Limerick, Pottstown and the surrounding areas. Want to check out some of the homes on the market, visit my website at www.GinaStango.com or contact me at 1-800-CALL ZIP ext. 3405 Happy Monday!
Sunday, February 21, 2010
10 Rookie Home Buyer Mistakes to Avoid
If you're a property virgin about to take the plunge, here are some common blunders to avoid--and helpful tips that could mean the difference between financial security and a mountain of debt:
1. Not checking your credit report and score
You've clicked through hundreds of online listings, compared floor plans and square footage, and are eager to jump-start your search. But before you even think of setting foot in an open house, make sure you get a copy of your credit report. The cleaner your credit report and the higher your credit score, the more likely you are to be preapproved for a mortgage at a low interest rate. According to Keith Gumbinger of HSH.com, most home buyers will need a credit score of about 720 to obtain the most favorable mortgage rates. Review your credit report a few months before you begin your house hunt, and you'll have time to ensure the facts are correct and dispute mistakes before a mortgage lender checks your credit. You can access a free copy of your credit report at annualcreditreport.com once every 12 months.
2. Not getting preapproved
After you've assessed your credit report, it's time to establish with a qualified lender how much you can afford. "First-time home buyers need to take the time to get an approval from their lender before looking at homes," advises Ray Boss Jr., a six-year licensed Realtor in Maryland. "This includes getting a credit check and giving their lender a copy of W-2s, pay stubs, and bank and brokerage statements." Getting preapproved can help you save time by looking for homes that you know you can afford instead of lusting after something out of your price range. And it will put you in a better position over another bidder with no preapproval.
3. Not creating a long-term budget
If the housing crisis proved anything, it's that mortgages were given to people who clearly did not have the means to pay them back. To avoid making this mistake, home buyers should create a budget before even beginning their home search to determine just how much house they can really afford. A good rule of thumb is to devote no more than a third of your monthly household income to housing costs, which include mortgage principal, interest, taxes, and insurance. "A good number would be 30 percent," Zandi says. "If you are over 35 percent, you are really pushing the envelope." There are several work sheets available online to help you figure out how your income, debts, and expenses affect what you can afford each month for the next 15 or 30 years.
4. Forgetting about the hidden costs
You grossly underestimated what you can afford to pay each month. You factored in the purchase price of the home but didn't consider the cost of taxes, insurance, utilities, and fees. There are several hidden costs that first-time home buyers neglect to prepare for. They can be anything from the closing costs to appraisal fees, escrow fees, homeowner's insurance fees, property taxes, and even moving costs. Another factor is the cost of repairs and maintenance. "When you're renting and the furnace goes out, what do you do? You call the landlord," says Tom Vanderwell, mortgage officer in Michigan. "When you own a house, what do you do? You have to fix it yourself." You may find there are numerous "nickel and dime" things to account for that could add up to a significant chunk of money over time.
5. Not using professional help
Sure, it's possible to go out and buy a home without the aid of a professional real estate agent. But think about how much time and stress a good agent can save you. For starters, Realtors have access to all the homes on the market through the multiple listing service, or MLS, plus all the ones that are under contract and have been sold. A specialist has time to sift through all of these listings, says Boss, and make the appointments to show you the houses, create comparative market analyses to determine proper pricing, and meet with necessary inspectors. Real estate agents also can help buyers traverse a taxing, 70-page legal contract. "I would want someone who is going to look out for my interests first and foremost," says Boss. "Someone who knows the contracts, who has experience negotiating, and who can walk me through the entire process smoothly--step by step--and make sure I get the house that's right for me."
6. Picking your real estate agent and lender blindly
"One of the mistakes a lot of people make is finding a Realtor they aren't comfortable with," says Boss. Begin your search at the National Association of Exclusive Buyer Agents, a nonprofit that represents buyers. Or ask relatives, friends, neighbors, and coworkers for referrals. First-time home buyers, Boss says, are generally more time-consuming than the average buyer and require more attention. A good real estate agent will be friendly and accommodating, show only homes that fit your parameters, and help you with strategies during the bidding process--but never pressure you into something you're not comfortable with. "It's important that the Realtor be experienced with first-time buyers, understand their wants and needs, and be able to connect with them well," says Boss. Similarly, the buyers should feel at ease with and have complete confidence in their mortgage lender, and they should fully discuss and understand their financing options with that lender. "Don't apologize for asking questions," says Vanderwell, who stresses the importance of knowing what you're getting into. "There's a pretty substantial chunk of people who are in really rough straits right now and would not have been had they done their homework."
7. Thinking you'll get everything on your "wish list"
Another mistake people make is being too close-minded while searching for their home, says Boss. He suggests sitting down with your real estate broker before searching for a home and creating a need/want list. Some of the items you might want to include as "must haves" or deal breakers are the towns you'd want to live in, square footage, or accessibility to transportation. The second part of the list would be things you don't necessarily need but wish to have, such as a garage, new kitchen appliances, or an extra room for an office. "As you search for your home, you may realize there are certain parameters you really want or don't want," says Boss. "Understand that a certain amount of flexibility is essential." Your aim is to be able to afford everything you need--as well as some items you want--all while staying within a long-term budget.
8. Not keeping your feelings in check before hiring a home inspector
You've already chosen the perfect paint color to match your living room set. But hold on: Before you start picking out accent pillows for your sofa, you need to bring in a home inspector to check the safety of your potential new home. Inspectors will evaluate the structure, construction, and mechanical systems of the home and will give you the approximate price of repairs that may be needed. They will examine everything from the electrical system, water heater, and HVAC system to the foundation and floors. Buyers should find and hire their own inspector--independent of the real estate broker--to ensure there isn't a conflict of interest. When you make your offer, make sure the seller is aware that your offer is contingent on the house passing inspection. You can also add a clause to the contract stating that the seller will pay up to a certain amount for any repairs required as a result of the inspection.
9. Not researching your neighborhood
You may be living in your dream home, but your neighborhood's a nightmare. Or you may have children or are planning to have children in the near future, but you didn't consider the quality of the school districts or parks in the vicinity. You should ask yourself a number of questions during your home search, such as "Are there good schools nearby?" and "Do I feel safe coming home at night?" Boss suggests that if schools are an important factor, you should go check them out personally. Speak with the principals or the parents waiting on the steps outside to pick up their kids. To learn more about the community, open up the local newspaper, Boss says. You can find out about community events or even how good the local high school football team is. Today's buyers can gather all sorts of neighborhood information from real estate blogs and websites like Zillow and Trulia. (U.S. News has a partnership with Trulia.) "It is the responsibility of the buyer to check crime reports, school options, churches, and shopping," says Boss. "Remember, you can change your house, but you can't change the neighborhood."
10. Not considering the resale value of your home
You've just started the home-buying process. The prospect of selling a home hasn't even crossed your mind. Besides, you're thinking you might live in whatever home you buy forever. Yet life is full of surprises, whether it is a job transfer or having another child or taking care of an incapacitated relative. When the time comes to put your house on the market, will your home be easy or difficult to sell? While you're on the hunt, it's a good idea to account for preferences of the typical home buyer. Just because you love to landscape or enjoy a bright-pink backsplash doesn't mean a prospective buyer will. "How we make our plans initially has a big impact on our ability to adjust those plans and to deal with whatever comes our way," says Vanderwell.
By Kimberly Castro for U.S. News
Saturday, February 20, 2010
Search for Homes that have been RECENTLY REDUCED in Our Area...
Looking for some of the best deals in your area? Check out ZIP's RECENTLY REDUCED MLS Listings. Then when you are ready, give me a call and we will Check Them Out!
http://www.ziprealty.com/buy_a_home/search/form/reduced_price_search.jsp
Gina Stango, Real Estate Agent
ZIP Realty - Gilbertsville, Pottstown, Collegeville, Limerick, Douglassville and the Surrounding areas.
Phone: 1-800-CALL ZIP ext. 3405
www.GinaStango.com
Friday, February 19, 2010
HomeScan™: ZipRealty's powerful new iPhone app feature
With HomeScan™, ZipRealty's newest app feature, you can look through your phone and instantly discover which homes near you are for sale (or recently sold). Easily view details of any home you see with HomeScan™ — including the asking (or sold) price, photos, distance from you, and more with this powerful augmented reality real estate app.
ZipRealty's iPhone app allows you to:
■ Instantly discover which homes near you are for sale, then view price, photos and more with HomeScan™.
■ Quickly search for MLS "For Sale" homes in 4,897 cities, complete with photos, maps and home details.
■ Easily view price estimates for homes from Cyberhomes, and eppraisal.
■ Clearly See what homes have recently sold in your neighborhood or across the country.
Try it for FREE. You'll LOVE it!
Click HERE to access the download and more information.
Seen everything on the oustide with your iPhone and now your ready to go inside? Give me a call to set up a showing in Gilbertsville, Limerick, Collegeville, Pottstown, Red Hill, Douglassville and the surrounding areas! Gina Stango, ZIPRealty 1-800-CALL ZIP ext. 3405 www.GinaStango.com
Thursday, February 18, 2010
Achieving Curb Appeal in the Snow
Now that we are finally starting to thaw out from the snow - Buyers are coming out of hibernation and starting to peruse the streets in the neighborhood. If your house is FOR SALE, it's time to freshen up a few things to give your home "Curb Appeal".
1) Make sure your driveway and walkway is completely free of snow and ice - you don't want anyone tripping as they are preparing to walk into your home.
2) Make sure your "FOR SALE" sign has been unburried from the snow and it's straight and upright. If there are flyers in your flyer box - make sure they are legible and the ink is not dripping from the melting snow.
3) Clear your house of sleds, shovels, scrapers and things that have been "left behind" during snow play - that what the corner of the garage is for!
4) A Welcome Wreath is GREAT to have on the door - but if it's still covered with drippings of ice and snow, it looks unmaintained. Take your wreath off the door and shake it out... it will make a HUGE DIFFERENCE!
5) Snow treks in not only water, but fragments that leave floors not so happy. Spend the time to make sure all entry ways have been swept and cleaned. It makes a BIG IMPRESSION!
6) I LOVE my Mud Room, but the Winter HATES IT... Gloves, Hats, Boots, Scarves - all over the place. My recommendation, TOTES! Pack em' up and get them out of eye sight :D
Hope these few pieces of advice are helpful! Even in the COLD of WINTER - you can still give your home curb appeal with the white winter covering that remains...Have a Question about Real Estate in Gilbertsville and the surrounding areas? Check out my website at www.GinaStango.com or give me a buzz at 1-800-CALL ZIP ext. 3405.
Wednesday, February 17, 2010
Sellers are Sticking to their Original List Prices
Just over 40 percent of available homes for sale had reduced prices in January, compared with 44 percent in December, according to a monthly survey of home listings in 27 markets conducted by the national real estate brokerage ZipRealty (NASDAQ: ZIPR) (www.ziprealty.com).
With fewer reduced price homes available in January, sellers were able to ask for their original list prices, rather than cut them to attract buyers. "Sellers are taking a realistic look at current market conditions before listing their homes," said ZipRealty CEO Pat Lashinsky. "We have a lot fewer homes for sale right now than we did last year, and we are seeing more sellers sticking to their original list prices, rather than cutting them to try to attract buyers."
Tuesday, February 16, 2010
Why the High Offer Gets Snubbed...
Cash offers often trump offers that are contingent upon obtaining financing, even when the cash offers are lower than the financed offers. This is because a cash offer can close much more quickly (two weeks on average, versus 45 days on average currently for a financed contract to close escrow). Also, cash purchases are much more certain to close in a marketplace that has grown fraught with reasons that financed transactions fall out of escrow. With most cash offers, there's no question as to whether the home will appraise at the sale price; there are no potential glitches that might arise if a condition problem is found with the property; and there are no potential problems like the buyer losing their job or having their credit score drop at the last minute. Because they offer certainty and speed, most cash buyers insist on a major discount -- and they often get it, even in multiple-offer situations.
Similarly, if your offer is financed by an FHA loan, it's not unusual to get beat out by an offer financed by a conventional (i.e., non-FHA) loan. Many homes -- even ones in seemingly good condition -- have seemingly minor condition problems that make the listing agent a little doubtful as to whether the place will meet FHA's particular condition guidelines. Additionally, an FHA buyer's typical characteristics, including low downpayment and little assets in the bank, tend to make sellers who have other options wary of whether their transactions will actually close.
Finally, if you've been making offers on bank-owned homes, be aware that some asset managers are hesitant to accept offer prices significantly above the asking price, for the express reason that they are so high above asking. This is counterintuitive, as you'd think they'd just want to recoup as much money as possible. However, there were a number of buyers out there who offered excessively high prices for foreclosed homes just to beat out the other offers, counting on them not to appraise that high. Then, they'd just turn around and demand a price reduction when the appraisal came in low.
You've got to understand the context. Before a bank-owned property comes on the market for sale, there has usually been a couple of weeks (or months) of wrangling between the listing agent and the asset manager, with the listing agent making the case that a low listing price is supported by the comparables. Listing agents know the lower the price, the more likely the place is to sell. However, that primes the asset manager to disbelieve that the property will appraise at a significantly higher price than the list price. So, even if you and your agent see comparables that support a higher price, and believe it will appraise at the higher price, the listing agent might feel you're trying to game the system and set yourself up for a price reduction down the road. Asset managers look bad when their projected recovery on a given property doesn't come to fruition at closing. They'd rather have a sure deal that will close at the contract price than have to go ask their boss for a price reduction mid-stream. Accordingly, my REO listing agent buddies are telling me that some of their asset managers prefer to accept either (a) a sale price that they are 100 percent certain will be supported by the appraisal or (b) an over-asking sale price accompanied by documents demonstrating your ability to make up the difference between the list price and your offer price with cash in the event the property doesn't appraise.
There are lots of other things that happen in isolated instances resulting in an offer other than the highest one being accepted, including situations where the listing agent represented both sides (and gave the seller a break on commission), but these are the most frequent. Moving forward, make sure that your offer paints the strongest honest picture of your financial qualifications to close the deal, and eventually you will prevail!
By Tara-Nicholle Nelson Inman News
Monday, February 15, 2010
ZIP Realty's iPhone App - How Cool!
With access to current for-sale homes in 36 major markets across the US, the ZipRealty iPhone app provides home shoppers with mobile access to over 1 Million MLS-listed homes for sale.
Whether you want to see high quality photos of homes, view ALL of the information available about a home, or see what third-parties such as Zillow, Cyberhomes or eppraisal think the home is worth - you can now do it all from your iPhone. With the addition of easy to use driving directions and nearby sold-home prices, we hope that this app will help you find the home of your dreams even faster!
Read more about the ZipRealty iPhone app. Download the it directly from iTunes.
Sunday, February 14, 2010
Breakdown on REO, Short Sales and "Normal" Sales
REO, foreclosures and short sales appear to be currently flooding the real estate market. And many potential homebuyers may feel that they can get a great deal for these types of homes, as opposed to what some in the current market are calling “normal” sales.
But as David Welch tells us, this may not necessarily be the case. There are definitely deals to be found with these types of properties, but should someone in the market to buy a new home stay particularly focused on REO, foreclosure and short sales only?
David Welch gives us the breakdown between REO, short sales, and what some call “normal” sales.
“The bank-owned and short sales just tend to be concentrated in lower price ranges. While half of all “normal” listings are priced above $249,000, only about 10 percent of all the closed sales are above $249,000.
Around 7 percent of bank owned properties for sale exceed that number, and just under 13 percent of short sales are currently on the market for $250,000 and above.”
It is still a buyer’s market, so no matter what type of property you find, with a trusted and experienced REALTOR® by your side, you just may be able to get yourself a great deal on the home of your dreams.
~ Reposted from Realtor.com
Saturday, February 13, 2010
Heat Tape - The Solution for Icy Gutters
Allowing ice to build up in gutters forms an ice dam that is really hard to get rid of. To nip this problem before it happens, do some "Spring Cleaning" this season.
First, clean out your gutters and keep in mind that anything designed to catch the leaves and needles and keep them from getting into the gutters can also be a problem when it comes to ice buildup. The barriers create crevices that trap ice and snow.
To be proactive for the Winter, install heat tape in gutters and downspouts. Heat tape is the easiest way to stear clear of ice. Heat tape is simply a long strip of electrically heated, rubberized cable. It is available in different lengths to meet your home's needs. Heat tape has a grounded 3-prong plug at one end, and is plugged into a properly grounded, GFCI-protected electrical outlet. The tape is placed inside the gutter or you can clip it to the sides of the gutter. You can then control the activation of the tape when the temperature outside turns to a certain level. This will prevent the ice from forming.
Friday, February 12, 2010
Things That INCREASE and DECREASE the Value of Your Home...
When you're searching for a new home. A great thing to keep in the back of your mind are things that will Increase the value. It's also good to realize certain amenities are pleasure items that won't add any value (even though you may feel you can not live without them).
The Following Items DEFINITELY Add Value:
1. An Updated Kitchen - One of the most favorite and critical places in a home. Solid surface counters, high-quality floorings are a plus.
2. Modern Bathrooms - Buyers want a little extra room in their bathrooms. Spas or Whirlpool Tubs are a plus!
3. Master Suite - People get excited about Master Suites that include a large bathroom, lounging areas and walk-in closets.
4. Natural Materials - Earth made materials like ceramic tile, hardwood floors, and granite are a plus.
5. Curb Appeal - First impressions can easily add 5-10% to the value of the home.
6. Light, Airy, Spacious Feel - "People buy space and light".
7. Good Windows - Insulated and energy efficient windows are always a plus.
8. Landscaping - Mature landscaping and trees carry their weight adding value to a home.
9. Storage - People LOVE oversized garages, some attic space and plenty of closets.
10. Basement - If it's dry, it's a BIG PLUS. But if it's wet, it's a BIG Negative.
On the Flip Side, Here are a Few Things That Will DECREASE Your Home's Value:
1. POOL - I absolutely LOVE my pool, but when we had it put in last Fall, I was well aware this was a luxury item and would not in any way increase the value of our home.
2. No Garage or Small Garage - Buyers want garages, not having one is a big downfall.
3. Bad Floor Plan - Small rooms and bathrooms, bad floor plan or a layout that requires you to access bedrooms or bathrooms through other rooms will detract value from your home.
4. Outmoded Appliances or Systems - No one wants someone elses headaches.
5. Stale Decor - Wild, flashy and dated colors are a turn-off to many people. Always try and stay neutral.
6. Bad Roof - Roofs are expensive to replace and a good roof is considered standard equipment in a house. If your roof has problems, expect to take a hit in the price.
7. Bad Location - What are you surrounding by? Highways, ugly utility lines and views of distracting landmarks will decrease your value.
8. Poor Maintenance - If you don't maintain your home and care for it and it shows, your offers will show the decreased too.
9. Environmental Hazards - Besides being a danger to human health, lead, mold or asbestos can kill home value.
10. Needed Improvements (lots of them) - If you can't move in it today because there are a list of must-dos just to conduct everyday life will scare off a lot of potential home buyers.
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