Choosing to Purchase a Short Sale

If you are in the market to purchase a home you definitely need to consider a few things when searching for a short sale. If you have a time limit in which to settle on a home a short sale may not work for you. Although it seems to be getting better, it can take quite some time to negotiate a short sale. Remember your offer has to be approved by a third party, the bank and sometimes even a fourth party, a second bank. Because of this it can take 4-8 weeks to get everything negotiated and then another 45 days to settle due to the mortgage restraints. Therefore if you are trying to take advantage of the tax credit you need to get moving immediately if you want to purchase a short sale.
Also remember while you are waiting for the offer to be accepted additional offers can be coming into the bank. They are not going to just review your offer but all offers that come into the bank. So if you have a time frame in which you must purchase a home you may want to rethink a short sale as this type of purchase requires a lot of patience. However if you have no time frame to purchase you should consider this type of sale.

Taking advantage of Today’s Market

As a home purchaser you should be taking full advantage of an unbelievable Real Estate Market! Purchasers have so much in their favor, and it will not last forever. You have the tax credit whether or not you have previously owned a home. You have low interest rates which are expected to rise in the future. You have homes that are on sale and will have instant equity once the market rebounds, and it will. If you have been waiting for the market to hit bottom, you are experiencing it NOW! What is it that you are waiting for? Lower prices, not likely. Lower interest rates, not likely. Another tax credit, not likely. You are now in a great position to purchase, so get that Spring Fever in Gear and find your new home!

The Positive Side of Short Sales

Although it may be very difficult to believe there is a positive side to short sales there is when compared to foreclosures. When a Seller decides to sell a home in a short sale situation the home normally sells for more than it would as a foreclosure thus keeping the neighborhood values up. Also instead of a foreclosure notice on the front door and a foreclosure sign in the yard the seller will have a Real Estate sign in the yard showing nothing more than they are relocating to a different property thus saving embarrassment for the seller. In addition when you have a short sale on your credit you may be able to purchase another home after 2 years; with a foreclosure in 5-7 years. Short sales will also save your credit score compared to a foreclosure.

If you are in a difficult situation right now contact a local Experienced Realtor immediately. Be sure that Realtor is experienced in Short Sales as it is a difficult process when you do not understand the ins and outs and get the home onto the market. For more information contact me at Sellinghomesjenn@aol.com and/or 610-999-7693.

Moving to Phoenixville

Here are a few great ways to get to know Phoenixville! Take a walk around Reeves Park. There you will find many members of the community walking around, playing with their children in the park, playing football or entering the library. Be sure to take a shopping trip to Bridge Street and visit the quaint shops that are available. Spend a morning at Steel City Coffee House with a friend then see a movie at the Colonial Theater and enjoy lunch at Iron Hill? Looking for night entertainment? Visit Molly Macquire’s for a fun filled night with lots of locals!

Phoenixville has so much to offer! Visit downtown and get ready for 1st Fridays!

Featured Homes!

Perhaps you are searching for a great home in Downtown Phoenixville that will enable you to be around the community and walk to all we have to offer! Perhaps a townhome with the ability to enjoy your weekends without working around the house will do for you. Maybe you are interested in a large single home which will enable your family to grow. Maybe you love old world charm with new modern amenities to make living easier. Maybe a small starter home or perhaps you are adventurous and want a home that you can renovate top to bottom! Whatever your wants and needs there are homes available for you!

Looking Downtown? Take a stroll by 383 Washington Street – a beautifully inside and out renovated 3 story single home or perhaps 222 S. Main Street with an office, or maybe 615 Nutt Road will work just right for you, another beautiful inside and out renovated home! Do not miss 202 S. Main Street! Charming 3 story twin in the heart of downtown Phoenixville!

Searching for a home on the outskirts of Phoenixville but still close to Downtown? Take a drive by 1355 Ridgeview Drive in Schuylkill Township! A great 3 bedroom, 2.5 bath single home on a wonderful corner lot!

Townhome living appeals to you? 116 Huntington Court in Charlestown Hunt may be the ticket for you! Wonderfully cared for with a full finished basement on a cul-de-sac and with a garage! Or perhaps you want to be in a different area! 2000 Bayless Court in Eagleville could be for you! A cute 2 bedroom, 2 bath townhome! Further out? 305 Foxcroft could be yours! This cute 2 bedroom, 2 bath condo is located on the 1st floor and minutes from Rt. 422. Or go shopping at the outlets and be home in minutes while living at 1052 Bramblewood Drive in Pottsgrove! Great 2 bedroom, 2.5 bath 2 story townhome.

Looking for that 1st time home? Just listed 47 E. Grant Street, totally renovated twin with the possibility of 4 bedrooms and 2 full baths!

Need a larger home, further away? Be sure to drive by 4147 Serenity Drive in Skippack. Gorgeous 4 bedroom with 2.5 baths and first floor office with a walk in closet in the main bedroom to die for!

Adventurous? 35 Dayton could be the one! A beauty once renovated. Single Family home on double lot!

As you can see there are plenty of homes waiting for you! Hurry before they are gone. For more information and a complete list of homes available contact me at Sellinghomesjenn@aol.com or 610-999-7693.

Moving Forward

It seems that recently the market is beginning to move forward! Homes are going off the market and settling. Once we get out from under all the white stuff we should be full speed ahead. Expect the prices of homes to begin rising and expect they will sell more quickly. A demand is definitely here and all indications are that we are just at the beginning. With low interest rates, anticipated changes to FHA financing and the tax credit deadline buyers are coming out of their winter hibernation and gearing up for Spring!

Now is a good time to find that home you have been wanting and even the time to get your home onto the market! It seems the buyers are now used to the snow and are not allowing it to stop them in their quest to secure a home!

FSBO

We are entering the Spring Market! Truly it is right around the corner and with the tax deadline looming this will be a good Spring Market! We also find at this time that Sellers sometimes feel they will save money by selling their home themselves and while I won’t lie and tell you that a small percentage of the time this works most of the time it does not. It is a proven fact that listing with a Realtor will provide you with a higher profit margin then not listing with a Realtor even with Commission included.
Think about this…you are going to take the time to market your home. Obviously all avenues of marketing are not available to the general public so you will not be taking full advantage of your marketing avenues. You will have to be sure all is in order with the agreement of sale and you must know the ins and outs of such an agreement. (The New Agreement of Sale will be a part of business shortly and is even more complex than the original). You will have to carefully monitor the mortgage part of the transaction as the mortgages are the most difficult part of the transaction at this time. You will be allowing strangers into your home which can be a safety issue for you and your family. You may also waste a lot of time doing this as the person coming through may not even be approved to purchase. In addition you are going to probably be dealing with a Realtor on the buyer’s side as it is rare a buyer purchases without a Realtor and you will be paying a commission to that agent. So is it really worth the effort and the setbacks to save a small percentage? Also keep in mind that many agents and buyers do not like to deal directly with the home owner as the business aspect is taken away and a more personal aspect replaces it.
The most important thing to realize is although the marketing aspect is very important when selling a home, most of the work truly begins after an agreement of sale has been presented.

FHA Financing

FHA Financing is changing a few of the rules. The first rule they changed was the credit score eligibility. Be sure to keep your credit clean to be approved for such a loan. In addition it is taking longer to close FHA loans, at least 45 days to be sure the transaction proceeds smoothly. If you are a buyer looking to purchase utilizing FHA financing NOW is the time as new changes may be coming into effect. These changes include a required 5% down payment as opposed to the 3.5% now necessary as well as the 6% Seller’s Assist being reduced to 3%.
Many purchasers are utilizing FHA due to the extremely strict conventional financing guidelines now in place. Be sure to take advantage of this type of financing before the rules change.

Snow and the Real Estate Market!

Will it stop snowing? At least not until after Wed. 2 large snowstorms in one week is enough to turn nervous Sellers more nervous! But Spring is around the corner and when we are finally out of this snow system the buyers will again begin to bring out the best in the market! If you are receiving showings even with this weather be sure that your walks are salted and that outside lights are on if it is an evening showing. You may want to place a mat at the front door so no one tracks the cold snow through your house. Keep your home well lit and warm so the buyers want to spend an extended period looking at your house! Candles and a fire in the fireplace are always a nice touch.

Spring Fever!

Every year, no matter what type of Real Estate Market we are experiencing, a touch of Spring Fever comes over buyers and sellers alike! Buyers now is the time to find that perfect home! Rates are low and your competition is not yet in full gear! Sellers get ready for what will be a fruitful Spring Market! Start making those small repairs now! Do your inside work such as painting, fixing that broken doorknob or replacing a tile in the floor! Freshen your home with a top to bottom cleaning! Be prepared to plant colorful plants once the warmer weather begins. Your home will then be fresh and ready for the new buyers ready to purchase your home! For a list of all available listings visit www.JenniferDaywalt.com and start your search today!

Tax Credit!

Believe it or not we have a few weeks before the ability to claim your tax credit is gone! All buyers must be under contract by April 30, 2010 and must settle their property by June 30, 2010. Don’t be a procrastinator! The title companies will be filled with settlements for the end of June for everyone trying to make that deadline. Sometimes a settlement does not occur on time and you don’t want a delay with that type of deadline looming. Try to find the home of your dreams and settle by mid June! And you should be searching now to make sure you have the April 30th date of being under agreement. Happy House Hunting!

No More Talk of Snow!

Most of us have had our fill of the white stuff! Its pretty to watch, but cold to go into and difficult to remove! So I am focusing on 37 days until Spring. That’s right buyers and sellers only 37 days until the Spring Real Estate Market is in Full Bloom and we are expecting that in this particular area it will be a fruitful Spring! So many potential buyers are getting cabin fever and just waiting to burst with Spring Fever! Begin preparing your homes for sale if that is the route you are taking and buyers get ready for a market full of buyers with Spring Fever!

What’s Available to Buyers?

There is a good inventory for buyers at this time and more homes continually coming onto the market. A good cross section of homes available and soon to be available range in size, condition and price! The top of the heap includes a totally renovated single family home complete with 5 bedrooms, 3 full baths, 2 ½ baths, central air, office space, large eat in country kitchen and living room. Completely renovated from top to bottom and absolutely beautiful offered at $599,900. If this is out of your reach there are 2 single homes completely renovated as the above home minus the office space. Both offer 4 bedrooms and 3.5 baths as well as off street parking both within walking distance to Downtown Phoenixville! These homes will not disappoint at sales prices of $260,000 and $365,000. And there are others! A great twin with 3 bedrooms, 1 bath offered at $169,900 as well as a single, 3 bedroom, 2.5 bath offered at $284,000. And the list continues!

Whether you are looking at a home for $150,000 or $700,000 or perhaps an investor looking for that deal the homes are available. So warm up your winter months by looking at great opportunities! For a complete list of homes available view www.JenniferDaywalt.com or email for a complete list at Sellinghomesjenn@aol.com.

Despite Cold Weather, Real Estate Market is Heating Up

Wow what a significant difference one week can make in the Real Estate Market. With frigid weather upon us the heat of the Real Estate Market can be felt. Homes going under contract, new listings coming onto the market and the buyers are coming out in a continuous flow! Perhaps the looming deadline for the tax credit of April 30, 2010 or the low interest rates have something to do with the flurry of activity. Whatever the reason it is clear that this area is moving into a Spring Market in February. Perhaps the worst is truly behind us!

For a complete list of all homes available view www.JenniferDaywalt.com and click view all available PA Homes! For an updated daily list of homes available and new listings email Sellinghomesjenn@aol.com and start receiving those emails on a daily basis.