Buyers look for hard wood floors

Wood Floor Care: Polish Your Skills

Houzz- Kitchen Remodel, Bathroom Remodel and More »

Browse Bedroom Products on Houzz- For Example:

Bed Pillows · Bedskirts · Duvet Covers · Quilts · Headboards · Makeup Mirrors · Nightstands And Bedside Tables · Sofa Beds ·

4 tips to determine how much mortgage you can afford

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  4 Tips to Determine How Much Mortgage You Can Afford

  By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget. Read

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Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

Why you should buy now? Here are a couple of reasons...

It was surprising to have such a great attendance at my open house today in Wallingford.  Temperature of 24F , with wind chill of I’m told close to 0.  Buyers are out and looking to buy.   

They are wise as they know that Buying now can be a wise decision. 

  

1. Your new move up home can cost significantly more in 5 years
2. Interest  rates will rise as the economy improves
3. You can buy more home with the same payments

For a more legible flier contact me. I will be glad to email it to you.

How much will this home really cost me?

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  How to Assess the Real Cost of a Fixer-Upper House

  When you buy a fixer-upper house, you can save a ton of money, or get yourself in a financial fix. Read

Visit houselogic.com for more articles like this.

Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

Should you move or remodel?

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  Should You Move or Remodel?

  When your house no longer suits you, you can move or remodel. Find out which big change is the right investment of your housing dollars. Read

Visit houselogic.com for more articles like this.

Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

Branka's January Real Estate Update Newsletter

Here is a link to my "January Real Estate Update":



This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month's issue includes topics such as:

"Home Improvement Projects That Pay Off";

"Selling And Buying All At Once?";

"Use Experts to Navigate Homebuying Process";

"Pros and Cons of Condo Living";

"The X Factor--Why Making An Offer On A Home Should Be Based On Value To You";

Plus a roundup of December real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

Remember this is a "big picture news": Best-Case Scenario for Foreclosure Freeze

Daily Real Estate News

October 13, 2010


Best-Case Scenario for Foreclosure Freeze

Gregor Watson, a principal with McKinley Partners, a development company that buys foreclosed homes, told listeners on a Citi home-builder conference call that there were three potential outcomes from the foreclosure fiasco:



· Best case: These are technical issues that can be resolved quickly so the foreclosure process can continue and the glut of foreclosed homes is cleared from the market.



· Medium case: There is significant litigation that takes years to sort out and this slows the troubled housing market even further.



· Worst case: The market grinds to a halt and title insurers refuse to insure mortgages involving foreclosed homes. “It would be devastating for the resale market if this robo-signer issue spiraled out of control,” Watson says.



Source: The Wall Street Journal, Dawn Wotapka (10/12/2010)

What's Real Estate Weather Like in Philadelphia Area Today?

As a Realtor, I have this love/hate relationship with media. I love to be informed and I strongly object when the information is not accurate and local experts are not consulted. Remember, Real Estate is like weather, it is local and it has cycles.

Great example:  Five years ago, good news about the real estate market was exaggerated. Now the statistics from the worst market in the country are generalized as if they were occurring everywhere.
Here’s a quiz…

TRUE OR FALSE:

1. Home prices have come down over 50%.

2. Over 6% of households are in foreclosure.

3. The suspension of foreclosures by major financial institutions will delay recovery of the real estate market.

The answer for each is – IT DEPENDS.

In Las Vegas, Nevada prices have come down an average of 58%. In the Prudential Fox & Roach market area, prices have declined an average of 7% from the peak of the market until now – a very moderate number.

In addition to having the distinction of experiencing the greatest price declines, Las Vegas also has the highest foreclosure rate at 6.6%. Less than ½ of 1% of households in our market area are in the foreclosure process – one of the lowest rates in the country. Because foreclosures make up such a small percentage of households in our market, if some were suspended the impact would be insignificant.

As our clients in Philadelphia area you must understand that real estate markets are local, that our prices have not taken a nosedive, and that our market is not flooded with foreclosures. You may think differently because you, our clients have been inundated with a continuous stream of negative news from the press because extremes, whether booms or busts, get attention.
Here’s another quiz:

TRUE OR FALSE:

Now is the best home buying opportunity of a lifetime.

The answer for our marketplace is TRUE!

Here’s why:

1. The Market

• We have clearly seen the bottom of the market. Unit sales have dropped after the April 30, 2010 expiration of the home buyer tax credit, but annual sales have been stable for three years.

• Prices have been stable this past year.

• There is a great selection of homes and sellers have become more realistic.



2. Interest Rates

• Interest rates are at generational lows. It is hard to believe they will go much lower, and they will definitely rise as the economy begins to improve. We would normally think of 5.5% as a terrific rate but at the current rate of 4.25% is outstanding. A buyer borrowing $250,000 over 30 years will save $2,700 each year over the life of the loan. That’s a total savings of $68,000!



3. Quality of Life

• It’s not unusual to hear conversations about the rent versus buy scenario. There are some advantages to renting but in reality, the Philadelphia area has never been a rental market. The best communities are made up of owners who care about their properties. Owning a home is one of the best ways to take control of our future.

• Houses are more affordable than they have been in years. Stable prices and incredibly low interest rates allow buyers to purchase more for their money so they can enjoy living in a house that better meets their lifestyle needs.



4. Long-term Investment

• Owning a home has been the best long-term investment in our area, far outperforming the stock market. In the past ten years, the value of Philadelphia area housing rose an average of 91%, while the S&P 500 lost 22.5%.

Right now, many people are carefully considering whether or not to buy a home. Lack of confidence in the economy and the job market are holding them back. But there is only so long to wait before this opportunity ends. If life circumstances dictate a move, it’s best to act now! I can’t imagine that conditions will improve for potential home buyers in this area!

In five or seven years, many of you my clients will look back and either be glad that you bought a home or be sorry that you didn’t. It’s my job to provide you with the expertise and knowledge to make the right choice now, or else you will look back and say, “I should have.”

After all, the true value of what I do goes beyond showing houses or writing contracts. It is in helping people make their dreams come true!

Find the Most Walkable Neighborhoods! See how your home scores on the walkability scale.

Check out this great website that shows where the most walkable neighborhoods are.  Type in your address to see how it scores or, view the Walk Score Map which shows walkable locations and distances from the address. You can even check out how far your commute to work will be.

How Walk Score Works:
Walk Score is a number between 0 and 100 that measures the walkability of any address.


Walk Score Description
90–100 Walker's Paradise — Daily errands do not require a car.
70–89 Very Walkable — Most errands can be accomplished on foot.
50–69 Somewhat Walkable — Some amenities within walking distance.
25–49 Car-Dependent — A few amenities within walking distance.
0–24 Car-Dependent — Almost all errands require a car.

Go to http://www.walkscore.com/ and see how your present home scores or where you might like to live next!

7 REASONS WHY ACTIVE ADULTS MOVE

1. Move for Lifestyle
2. Move for Work
3. Move to Flee Dissatisfaction
4. Turn Second Home into First
5. Move for Health Reasons
6. Move to simplify life
7. Move for Family

Could your home have been purchased from a Sears catalog?

Can you imagine buying your home from a catalog?  From 1908 – 1940 Sears Modern Homes program offered over 500 ready to assemble “designs” from bungalows to mansions.  A quaint, three-room and no-bath summer cottage called the Goldenrod could also be purchased. The outhouse was sold separately. The details of construction and completion of the home was enclosed with a shipping schedule and mailed to the customer. The pre-fab houses were sent by rail and arrived pre-cut with a set of specifications and instructions on how to put it together.
There is a large collection of Sears Modern Catalog Homes still in existence. The Crescent Hills section of Hopewell VA has 44 homes. Elgin, Illinois has the largest known collection of over 200 homes. There are some homes in Pennsylvania as well.
If you want to learn more about these homes go to the Sears Archives website. Sears no longer has records but has suggestions on how to find out if your home might be from Sears. Rosemary Thornton, the author of The Houses That Sears Built offers this “How to Identify a Sears Home Kit” at wikihow.com.

So how's that for some fancy catalog shopping?

What do buyers and sellers want in a Realtor?

Prudential Real Estate did an online survey of people who own homes and people who intended to buy a home within two years. It found that people are aware that today's real estate market is very complicated and requires greater sophistication. 

• 69% agree that buying a home is a much bigger decision than it used to be.
• 76% agree that buying or selling a home is more complicated than in the past
• 89% agree that previously "any home used to sell" but that marketing a home today must be much more sophisticated. 

Because of this it is no surprise to see that:

• 93% agree that finding an agent and real estate firm they can trust is more important than ever.

Many people are searching for their information online. Unfortunately not all information we see online is reliable, which can hurt buyers and sellers. That's why it is crucial to select a professional Realtor with the knowledge, experience and creativity to guide you through the process. When buying, it is important to have current information about what is on the market. When selling, it's important to understand that buyers are looking for value, and sellers who have their homes in great condition, have them priced right, and use staging techniques will experience success. Prudential Fox and Roach can assist in all of these areas. We are the market leader with a history of trust and integrity dating back to 1866. Our professionals are experts and the consultants of The Trident Group (mortgage, title, and insurance) will make the process easy and convenient while helping you settle on time, with great service and value.

Low Interest Rates makes NOW the best time to buy a home!

Many buyers rushed to purchase their home by April 30th, 2010 before the $8000 federal tax credit expired. Well guess what? – the even lower mortgage interest rates available make now AN EVEN BETTER TIME TO BUY! Here it is in dollars and cents:


April 29 – interest rate of 5.06% (according to freddiemac.com)
August 17 – interest rate down to 4.42%

SAVINGS WITH LOWER RATE: $154 per month savings on a 30 year fixed rate mortgage of $400,000 and $55,510.00 savings over the 30 year life of the loan!

OR

A home purchased in 2005 with a $400,000 mortgage at an average rate of 5.87% has  payments of $2,365 per month. Refinance now and reduce your monthly payment:

SAVINGS WITH LOWER RATE: $508 per month savings (payment reduced to $1857 per month).

OR keep the payments the same and shorten the length of the loan.

SAVINGS: Tens of thousands of dollars in interest to be saved over the life of the loan.

There has likely never been a better time to buy or refinance! There are lots of homes on the market, and prices and interest rates are low, low, low! Don’t wait to see if prices go down as it is likely that interest rates will inch up! ACT NOW!

Branka's July Real Esate Update

Here is a link to my July Real Estate Update - thank you for your patience, very busy times and I am grateful for it.  http://realtytimes.com/140/BrankaDoych

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.



July issue includes topics such as:

"How To Make Buyers Want Your Home";


"Debunking Credit Score Myths";


"Choosing The Best Home";


"Home Warranty FAQs";


"Should You Move Up?";



Plus a roundup of June real estate activity as well as much more advice and information.
I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

Buyers and Renters: Several reasons why you may wish to own a home.

1. Tax Breaks The U.S. Tax Code lets you deduct interest and part of other costs involved in buying a home.

2. Equity – Money paid for rent is helping pay landloard's mortgage. Payments on your mortgage are building your equity in your own home.

3. Appreciation – Long term,  real estate has a stable growth value. Median price values have increased 88.5% over the last 10 year period… according to the NATIONAL ASSOCIATION OF REALTORS®.

4. Predictability – unlike rent your fixed rate mortgage stays the same over 10, 20 or 30 year period as determined at the time of purchase. You can even refinance for a lower rate and potentially have a lower payment in a few years. Keep in mind that property taxes and insurance cost will go up. Rent will always go up.

5. Savings – building equity in your home is a readymade savings plan. Even when you sell your home if the laws do not change you can take up to $250,000 or $500,000 for a couple in capital gains.

6. Stability – Remaining in a neighborhood for several years gives you a chance to participate in community, create a circle of friends for adults and children that lasts a life time sometimes, offers stability of education for children.

7. Freedom – you do not need to live with white walls, the home is yours, you can paint and decorate any color and any way you wish inside or out ( unless it is a historic community)

And there is this gift: biggest gift ever, $8000 tax credit for 1st time buyers - think about this: how long will it take you to save $8000.00 for a down payment on a new home?  Check with a qualified and reputable mortgage company to find out if you qualify for a loan, knowledge is power and you have nothing to lose, may be an hour or so... Once you know what you can and cannot do, get a professional to help you find that perfect home for you and for your family.  There are only few weeks left. Best of luck!
  
Online resources: To calculate whether buying is the best financial option for you, use the “Buy vs. Rent” calculator at http://www.ginniemae.gov./