Real Estate Information

Whether you are selling your home or you are looking to buy a home, there are a few things that you need to know to help your home inspection go as well as it possibly can.  Home buyers need to know that the house they are buying is in good shape and home sellers need to be on the up and up when selling their home. When it comes to home inspections there are a few tips that can help the inspection go smoothly and the process be as stress free as possible. 

• If you are selling your home and you have a home inspection on the schedule, do your part to make it easy on the inspector by getting your pets out of the house while he or she is doing the inspection.  Your home inspector may love and adore animals as much as you do but your pets being under their feet during the inspection will not make the job any easier. 
• During a home inspection, typically the potential buyers are inside alone with the inspector and they may want to look around to take one last look at things before making a final decision.  If you want to make a good impression on those potential buyers, you may want to clean up the clutter you have left laying around.  Believe it or not clutter can cause a potential home buyer to walk away without making an offer.
• As a home buyer don’t freak out if the home inspector comes up with a list of things that need to be taken care of in the house.  You need to realize that most houses have some sort of upkeep or maintenance that needs to be taken care of and that inspector’s are known for being nitpicky.   Realize too that most everything can be fixed.  Even the dreaded mold and radon.  Realize as well that home inspectors cannot predict the future and won’t be able to tell you how long something will last; they will just be able to tell you that it needs attention. 

Hopefully these tips will help you out the next time you have a home inspector coming to your home, whether you are selling or buying.  Remember that the home inspector is there to help you not to harm you or to ruin your dreams.

Courtesy of Chester County PA Realtor Scott Darling.

The holidays should be joyful and relaxing, filled with quality family time, but with all the pressures of gift buying, parties and traveling, you might view the season a bit differently. Whether you’re worried about money, checking everyone off your gift list or sending your holiday cards, it seems there’s never enough time to get everything done.

But the season doesn’t have to bring about feelings of stress and anxiety. When you focus on all the happiness the season brings, you can get back to enjoying what the holidays are all about.

Here are some tips to help you beat the many holiday stressors and enjoy this time of year:

1. Get organized.

Never underestimate the power of list-making and planning. Use a planner or your phone to keep track of all the tasks and events on your to-do list. Crossing items off as you go will help keep your stress levels in check.

2. Avoid taking on debt.

Money worries are one of the biggest triggers for holiday stress, but that doesn’t mean you have to go into debt. By planning and sticking to a budget, you can easily avoid spending too much. Decide what you can truly afford given your regular bills and expenses and don’t overlook easy ways to find “hidden” money in unexpected places. Gather all your coins from coat pockets and jars around the house… you’ll be amazed how those pennies can add up to. And be sure to also check your wallet for gift cards you may never use.

3. Be realistic.

You can only make it to so many parties and events in a given time frame, so don’t overdo it. You don’t have to be the perfect holiday host or please every one of your family members. Instead, focus on the traditions and holiday events that mean the most to you. If family events tend to overwhelm you, remember it’s OK to set a time limit for any event or visit.

4. Take time for yourself.

Sixty-six percent of holiday shoppers can name at least one thing they’d be willing to do to ensure they can purchase gifts for everyone, including eating out less, spending less on entertainment and taking on credit card debt. Try not to take enjoyable activities out of your budget, if you can. Treat yourself to dinner and a movie every now and then to keep yourself sane when the stressors start piling up.

5. Get active.

Stick to your normal exercise routine and make a point to get out and move. Regular exercise decreases feelings of anxiety, releases endorphins and improves your sleep quality, which are things you could use during the holidays. And even though it may be dark for a large portion of the day, spend a few minutes outside or sit near a window on particularly sunny days.

When you incorporate these tips into your routine, you’ll find it easier to enjoy all the wonderful things that come along with the holiday season. And instead of collapsing in relief at the end of the season, you’ll carry that calm and positive momentum right into the New Year. (BPT)

The average person will shell out approximately $805 on holiday spending this year, according to the National Retail Federation. That’s a significant increase in spending for most people, and in the excitement of shopping, purchasing and doling out gifts, it can be easy to forget about account balances and bills.

One solution that could help shoppers stay within their means this season: their smartphone.

According to the Bank of America Trends in Consumer Mobility Report, many Americans view their smartphone as an indispensable companion. In fact, 36 percent say they check it constantly, to the point of a few times an hour or more. With this growing mobile-mindset, shoppers have an invaluable tool at their disposal to help manage and simplify their holiday finances.

“During the rush of the holiday season, mobile banking makes it convenient for consumers to stay on top of their finances and manage their spending on the go with alerts about their accounts,” said Michelle Moore, head of digital banking at Bank of America. “For example, we send more than 1.5 million alerts a day to customers, including notifications of low account balances and upcoming bill payment due dates.”

Additional findings from the Report reveal how consumers may be using their phones to manage their finances this season:

• Constantly connected. More than six in 10 (62 percent) consumers using a mobile banking app say they access it at least a few times a week or more, with two in 10 (20 percent) checking once a day or more.
• Keeping a watchful eye. The majority (81 percent) of mobile banking app users are receiving push alerts and notifications via their mobile device to keep an eye on their account activity in real-time, with low balance (43 percent), unusual activity (41 percent) and deposit made (41 percent) alerts as some of the most popular elections. And it’s not just Santa who’s always watching — nearly one in seven (13 percent) Americans admit to tracking the spending of their parents, children or their significant other via mobile banking.
• Ditch the cash. More than half (56 percent) of respondents would consider paying someone using person-to-person payments via a mobile banking app, specifically family (44 percent), friends (29 percent) and household helpers (20 percent). Additionally, nearly two-thirds (63 percent) of mobile banking users use mobile check deposit.
• Smartphones as shopping companions. Nearly two in five (38 percent) consumers shop for goods and services on their mobile device, with more than half (51 percent) of millennials doing so. Shoppers are also using their smartphones in store, with more than one-third (34 percent) citing they would consider or have already used their smartphone to make a purchase at checkout. (BPT)

We all have New Year’s resolutions each year.  Why not make 2016 a great one by deciding once and for all to get your finances in order.  There are several ways that you can make a big step to improving your finances for this coming year that are not that difficult to do. 

• One of the first things you should do in order to get a hold of your finances is to write down everything you spend for at least a month.  This way you will be able to clearly see where your money is going and where it is not.  You may find that you are a bit surprised by exactly how much money you waste on a daily basis buying things that you can definitely do without. 
• Another easy step to taking a hold of your financial situation this coming year is to start paying off your credit cards.  It is a good idea to start with the smallest amounts owed on credit and pay that amount off first, then move to the larger amounts owed and whittle them down as well.  Once you pay off your credit cards do your best to do without them if you possibly can.  Living on a cash only basis is a great way to take charge of your finances.  If you don’t have it, you don’t spend it…it can be as simple as that!
• This is a bit old school, but clipping coupons is a great way to help ease financial strains that you may have gotten yourself into.  There are several ways to coupon and many times you can get products completely free of charge if you get good enough at couponing.   Make a stockpile of things that you use on a regular basis such as toilet paper and toothpaste and other items you can get very cheap or free.
• If you can, it is a good idea to save up an emergency fund for things that may go wrong now and again such as car repairs and the like.  A good amount to strive to save up is around $1,000.  This will be a big help when you find yourself in need. 

This should be a good start to getting you thinking about your finances and how to take control of them before they take control of you.  This time of year it can be hard to think about finances due to the holidays and all that they include but it is well worth it if you do so that you can start out the New Year in the right direction.   

Courtesy of Chester County PA Realtor Scott Darling.

Realtor.com has ranked the HOTEST Real Estate Markets in November. The temperatures may be dropping but California real estate is hot, hot, hot scoring 12 of the top 20 spots with San Francisco as #1. The good news for the rest of the country is trends always seem to start in California and move eastward. This bodes well for our local market in 2016!

Residential activity in Chester County (Single-family and Condo)

What's happening in the Local Market?

November was right where expected, sales up, but not by as much as we’ve been seeing, and prices level. Year-to-date sales are up 14% and median sales price is up 2%. Looking ahead to next year as predictions from experts begin to appear: more of the same. Strongest headwinds are low inventory and the probability of mortgage rates increasing, although it’s unlikely that the expected increase to 4.5% by the end of 2016 will adversely impact home sales.

Curious about the value of your home? Get your home's value here!

Think you know what a real estate agent does on a daily basis?  You might have to think again in order to correctly identify all the responsibilities on the shoulders of your REALTOR (a real estate agent who is a member of the National Board of Realtors).   You most likely would be surprised—and impressed—to discover the wide range and long list of activities undertaken by your REALTOR in your pursuit of buying/selling a home.

A basic job description would include renting, and buying, and selling (oh, my!) real estate for clients, interviewing potential clients, previewing and showing  property, discussing sales conditions, drawing up and presenting offers, holding open houses, and writing contracts—all the while meeting deadlines and hand-holding when necessary.  Oh, but there is so much more for your REALTOR to do, including, but certainly not limited to, the following duties:

• Staying current with market trends in your area
• Analyzing comparables
• Exploring and evaluating mortgage options
• Finding buyers or properties for clients
• Scheduling appraisals
• Keeping up with changing federal/state laws and program
• Negotiating between parties
• Preparing MLS listings
• Promoting properties via ads, web sites, videos, and virtual tours
• Completing required courses, attending seminars, and the like
• Coordinating inspections, walk-throughs, and closings
• Arranging for title searches

But did you know that the National Association of Realtors awards grants to groups of state and local real estate associates who attempt to go above and beyond in promoting and expanding housing opportunities in their communities?  These REALTORS work together to design and implement affordable housing programs and are thus eligible for the NAR grants twice a year.  In addition, the NAR offers programs, training, and resources for these groups.  Click here for details of the Housing Opportunity Program.

Remember, real estate doesn’t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner’s contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally pre-screen and accompany qualified prospects through your property.                                                                                

Contact us!  We’re qualified, experienced, and looking forward to assisting you.

Courtesy of Chester County PA Real Estate Expert Scott Darling!

The time is upon us and Christmas will be here before you know it.   Finding the right Christmas tree for your  home can be a lot of fun if you go about it the right way and with a few guidelines. Below are some tips for putting up your Christmas tree without messing up your home.

• The first thing you should do even before purchasing your Christmas tree is to prepare your home for its arrival.  If you have furniture that will need to be moved out of the way in order for your tree to take its rightful spot in your home then go ahead and move it out of the way before you leave so that when you arrive home you won’t have to worry about it being in your way. 
• Be sure to put a sheet down before you drag the Christmas tree across your hardwoods.  The sap that is possibly still present in your tree can get onto your hardwood floors and destroy them if you are not careful.   This will also make it easier for you to put the tree where you want it as it will alleviate you having to carry the tree through the house. 
• Take measurements where you want your tree to go before you go get one.  This way when you are searching for a tree you know exactly what size you will need for the space allotted.  No one wants to pay top dollar for a Christmas tree only to get it home and realize you have to cut three inches or more off so that it won’t hit the ceiling. 
• Water your tree daily to avoid it catching on fire due to dry and brittle branches.  Be sure if your tree is not freshly cut that you trim at least a half inch off the bottom of the tree before you place it in its stand and water it, otherwise the tree will not be able to absorb the water and therefore will die prematurely and may catch fire.   

Now that you have read these tips for setting up your Christmas tree, you better get on out there and get you one of your own before Christmas has come and gone!

Courtesy of Chester County PA Realtor Scott Darling.

Wondering if the holidays are a good time to put your home up for sale? Here are 7 reasons to list your home during the holidays...

Courtesy of Chester County PA Realtor Scott Darling.

The following article, 6 Home Repairs Owners Shouldn't Delay, just appeared in Realtor Magazine and I thought you could use the reminder coming into the colder weather...

Some home repairs that owners linger on could turn into financial catastrophe. BobVila.com recently highlighted several things home owners should repair in their home before it’s too late, including:

1. Gutters: If not cleared, gutters – crucial for proper drainage -- could be the root of problems for home owners. During the winter, clogged gutters could lead to ice or water damage. Also, gutters and downspouts that are overflowing with leaves or that appear to not be draining properly or draining toward the house can also cause water issues.

2. Decks: Loose railings along your porch, deck, or steps should not be ignored. The fix may be as simple as a few screws that need to be tightened in a few places. But if ignored, a loose rail could give in and risk injury and more costly repairs.

3. Water spots: A spot on the ceiling should be handled immediately. The cause, however, of the water damage may not be obvious. A roofing contractor may be the first source of contact to determine if it’s from a loose shingle.

4. Asphalt cracks: Water that seeps in and then freezes can cause cracks to get wider. The water may also saturate the soil underneath the driveway and cause a shift overtime. Home owners should seal their driveway as soon as they notice any signs of wear to prevent damage from rain, snow, ice, or sunlight.

5. Leaky faucets: A slight drip or a running toilet is not an issue that should be overlooked either. These may be signs of a bigger problem and the fix will likely save you money on your water bills. Small leaks can get bigger if left ignored and become more costly to repair.

6. Blocked chimneys: Proper maintenance of chimneys is important or home owners could risk suffering from a fire or smoke inhalation. Soot and creosote build up in in the interior of chimneys and need to be removed. Also, owners would be wise to inspect the chimney cap to make sure it’s not rusty or damaged to prevent debris or pests from coming into the home.

Source: “Time’s Up: 9 Things to Repair in Your Home Before it’s Too Late,” BobVila.com (November 2015)

The home loan process can seem intimidating, especially for a first-time homebuyer. It is not a simple process, but it doesn't have to be too complicated. There are many resources available to help you prepare for your home buying journey, and your mortgage lender can answer the questions you have throughout the process.

Here are some of the key steps to the home loan process, as well as some tips to help you understand what you can expect:

1. Preparation and self-assessment

Before you dive head-first into buying a home, make sure that you know how much you can afford.  The first step is to calculate your "debt-to-income ratio." You can do this by adding up your current monthly bills then subtracting your total current income. This will help you determine whether you can afford a mortgage payment, and if so, what amount might fit into your budget. Using an online mortgage calculator is a good way to help you determine what the estimated cost of your monthly mortgage payment will be. Doing these calculations first will help you assess your resources and determine your budget to purchase a home.

2. The loan application

Download a blank loan application ahead of time so you can look it over and familiarize yourself with it. This will give you an idea of the information you need when completing and submitting the application. The necessary documents may include: proof of income, proof of employment for the past two years, proof of identity, proof of residency and your social security card.

3. Origination and Underwriting

Origination - The loan officer will review your financing options, work with you to complete the credit application and create the loan account.

Underwriting - An underwriter will review the application and determine the level of credit risk you represent based on your credit score, income, existing debt and down payment. You may be asked to provide additional information about your finances during this step.

4. Satisfying loan conditions and full loan approval

In this step, you will receive a "conditions to approval" list from your lender, which outlines the tasks you must complete before the loan can be closed. For example, the lender may ask for additional documentation to verify income, savings or emergency funds or other proof that you can afford to repay the loan. At this point in the process the lender may offer a conditional loan approval and start the document verification process. If you accept the conditional loan approval offer, once all conditions have been met, the lender will issue a full loan approval.

5. Processing

Once you've selected your dream home, you'll sign a purchase agreement with the seller. The purchase agreement tells the lender how much you have agreed to pay to purchase the home. The lender may then have the home appraised and will provide you with a copy of the appraisal.

6. Closing

In the final step of the process, the lender works with a title company to obtain and review a title report and then finalize your title on the home. The titling company receives a closing package, which contains the documents that need to be signed, recorded and become part of your mortgage loan file. At the closing, you will sign all closing documents and pay any closing costs. The lender then receives all of this signed paperwork to complete the process.

Once this process is complete, you're ready to move into your dream home. The home loan process may take some time, but these steps are well worth the wait. (BPT)