Advice for First Time Home Buyers in Bucks County

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Today we have our buyer’s agent with us and he will be speaking about some things that first-time buyers in Bucks County should know. He will also speak about some things to avoid if you are a first time buyer in Bucks County.

For starters, buyers should know that lenders are a little more lenient than expected. You can qualify for a loan with a credit score just above 600. You don’t need an 850 score and 20% down to qualify for a loan. All you really need to put down for a $200,000 home is $8,000 to $10,000. It’s important to recognize that you don’t need a fortune to get into a home. However, it’s important to know your budget and not overexert yourself financially. Purchase something that you can comfortably afford.

"Get pre-approved to find out what you can afford to purchase."

As far as inspections go, we recommend that every single client has one performed on their prospective home. Even newly-built homes will have problems, so it is always a good idea to get yours inspected. It is well worth the few hundred dollars you spend on the inspection. You don’t want to buy a home and then find out that you need a new roof.

We also like to educate our buyers on the tax benefits of buying a home. You can save a few thousand dollars every year from mortgage interest write-offs. It’s okay to spend more monthly on a home than a rental because of this tax difference, but many people simply don’t understand this.

If you have any further questions about buying a home in Bucks County, please don’t hesitate to contact us. We look forward to speaking with you!

Benefits of Working with Our Buyer’s Agents

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I’m happy to be joined by Brent Parsons today, who is a buyer’s agent on our team here in Bucks & Montgomery County. We’re a buyer-centric team, meaning we’re very concerned with taking great care of our buyers from first timers to those who are downsizing.

We work with a lot of first-time buyers and just a lot of buyers in general. My goal is to satisfy any individual buyer’s exact goals. Right out of the gate, we align ourselves and make sure we’re a good fit for each other. Usually this happens on the weekends or at night, for your convenience.

We’ll get together and formalize the partnership. In fact, I spend so much time with a lot of clients that we become good friends. After we’ve formalized the partnership, then we’re on to looking at homes. We communicate about what’s important to you; school district, is price an absolute factor, are you pre-approved, the kind of things to make sure we’re prepared. It’s an ongoing process.

"We’ll get together and formalize a partnership."

We’re also going to be very aggressive. We’ll look at the market every day and I’m personally on the MLS twice a day looking for available homes for my clients.

I find that communication is the most important thing. My clients always have an open line of communication, whether that’s emailing, texting, or Facebook, and we’ve also got an awesome home search site to familiarize yourself with the market.

It’s full-time for me, I take it very seriously, and I have a great time doing it, and I expect the same approach from my buyers. I’m willing to sacrifice for my clients and I think they have an advantage because of that.

We’d love to talk with you about your buying situation, so feel free to reach out via phone call or email.

We fight for our clients in Bucks County

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Today we have Tim Connelly with us, and he is a certified Negotiation Expert on our team. He handles many of our negotiations, and he is always fighting in the best interests of our clients.

Tim notes that a negotiation is only a discussion aimed at coming to an agreement. This is like when you’re trying to get your kids to eat their vegetables. You make a compromise that they can have dessert once they eat their vegetables, and that is the negotiation right there. Everyone negotiates multiple times a day without realizing it.

There are different kinds of negotiators as well. A competitive negotiator would be reminiscent of a Donald Trump-type character. They will do anything to win, and this is unnerving for most people, but Tim knows how to handle these types of people.

"Tim wears different hats depending on who he is negotiating for."

A collaborative negotiator is one that most people enjoy. This person understands that when something is given, another thing needs to be offered in return. This is the ideal negotiator if you want a smooth and stress-free transaction.

A compliant negotiator is someone that will do anything to avoid conflict. This person simply wants to be liked, and although this may seem like a bad fit for a negotiator, it’s sometimes necessary to wear this mask.

Tim interchanges between these three types of negotiators for our clients in order to get them the best deal possible. If you would like to continue this discussion, please don’t hesitate to reach out to us!

Avoid Missing Out as a For Sale By Owner Seller

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For Sale By Owner (FSBO) sellers typically sell their home for 15% to 20% less compared to homes listed with a real estate agent. That’s a big difference. In fact, most FSBO sellers already knew their buyer prior to the transaction. That means these properties aren’t usually marketed towards a wide audience. Today, I’ll share three tips for FSBO sellers.

• Watch out for missed opportunities. When someone calls to schedule a viewing, make it available and respond quickly. This is critical for buyer-seller contact.

• Don’t underestimate the amount of time it takes to prepare your home. You need to spruce up your home and make it shine! That’s how you draw in potential buyers. Additionally you need to obtain certifications and fill out disclosures. It really takes time to attract buyers.

• Watch out for accidental brush offs. There are millions of people searching on the web. Don’t solely rely on the MLS to advertise your home. There are other efficient ways to lure in a buyer online.

If you’ve already tried the FSBO route and would like an expert’s advice, feel free to reach out to me by phone or email. I’d be happy to answer any real estate questions you might have!

Four Important Factors for Bucks & Montgomery County Sellers

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As an experienced Realtor, I predominantly focus on four factors: price, condition, location, and marketing. These are the four key areas to sell a home quickly in the Bucks and Montgomery county area.

1. Price: Your property needs to be at an appropriate price to compete with similar homes in the market. You’ll receive more offers with a low price compared to a higher one.
   
   
2. Condition: The condition of your home should be better than the competition. Your home should be as nice as you can possibly make it. Ensure to clean every crevice and remove unnecessary clutter. Bring in a stager in if possible!
   
   
3. Location: While you can’t change location, you can make your property shine on the outside. If your location isn’t exactly what a buyer is looking for, you have the potential to overcome that.
   
   
4. Marketing: This is where the professional comes in. Your Realtor should have strategies lined up to attract potential buyers. Your listing should be receiving a lot of online activity. We do social media, video marketing, and advertise on websites all over the world.

If you’re thinking about buying or selling a home in the surrounding area, give me a call or email! We can help you sell quickly and for top dollar this year. Additionally, I’m always here to answer any real estate questions you might have!

The Truth About Real Estate Commissions in Bucks & Montgomery County

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There is a misconception in the marketplace that Realtors keep 100% of their commission, but that’s just not how it works. Throughout the United States, Realtors are mostly independent contractors. This means that they are self-employed small business people.

Throughout the country, commissions are all negotiable. They are set by the buyer and the seller, and they range anywhere from 1% to 10%. Realtors pay all their own expenses: their cards, marketing costs, promotional costs, professional photography, website supplies, cell phones, retirement plans, insurance plans, and many other things that are usually provided by places of employment.

It’s so expensive to be a Realtor that more than 80% of new Realtors go out of business within two years. When an agent acts as a representative for the seller, they receive 100% of the commission, but at closing they give the other agency half of that commission. So, the buyer’s agent and the seller’s agent split the commission, and the commission that each of them takes away is split once more with the agency they work for. In other words, agents almost never keep 100% of the commission, and that’s before considering taxes!

I hope this helps you understand how commission works. If you have any questions about this topic, please don’t hesitate to reach out to us. We would love to hear from you!

Price and Cost Between Buyers and Sellers

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You might think price and cost are the same, but in reality, they are extremely different! They have different meanings for buyers and sellers.

On the buyer’s side, price is what goes to the seller. For buyers, cost includes mortgage payments, utility bills, ongoing maintenance expenses, and replacement fees of aging parts of the home (like the roof).

However, the seller’s side is a little bit different. Sellers earn the price from the buyer, but the cost is what they walk away with. The cost to a seller would include bank commissions, inspections, required certifications, taxes, and similar expenses.

Particularly, when you pay an agent a commission, sellers need to weigh both the price and cost. The seller pays the price, but the cost must be considered. For instance, if an agent sells home for 2% more than the average list-to-sale price ratio, they can help you earn 2% more on average from your listing.

If you have any questions about today’s topic or anything else real estate related, please reach out. We’d be happy to address any concerns and answer all of your questions.

How We Helped Karl Safran Buy His First Home

"We finally bought our home, it was our time. We went through Linda, and everyone that works with her. It's a great team. They made it a simple process, we were in and out in a hour. I highly recommend them." - Karl Safran

How We Helped Amir Elboghdady With His Real Estate Needs

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"I worked with Linda at Re/Max. I had traveling conditions with my job, she not only helped me, but communicated with me in the right manner. We expedited the whole process, and in five weeks we closed, so I really appreciated her help." - Amir Elboghdady

Homes Are Incredibly Affordable in Bucks & Montgomery County

 

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Today, we're here to talk to you about the affordability of homes in our current market. There are a few reasons why homes are so affordable right now.

First of all, mortgage credit availability has gone up over the last two years. Two years ago, it was very difficult to get a mortgage. Credit standards are loosening and because of that, more buyers are able to get mortgages.

Secondly, FICO score requirements have gone down. It used to be that you needed a high FICO score, especially when the market wasn't doing well. Now your credit score doesn't have to be so high. In fact, if you weren't able to qualify six months ago, you could get a mortgage now!

Mortgage companies are also allowing you to make smaller down payments. You don't need to put 20% down on a home anymore. In fact, the current average is 10% down. First-time buyers are putting down 4%, and repeat buyers can put down as little as 13% across the country. That gives you plenty of leverage to buy a home today.

Another reason homes are so affordable right now is the historically low interest rates. Right now, rates for 30 year fixed rate mortgages are at 4%. Mortgages are incredibly affordable right now with these spectacular rates.

Finally, interest will be going up in 2016. As rates go up, you qualify for less money in a mortgage. You should buy now while rates are low and homes are affordable.

As you can see, now is a great time to buy a home. If you have any questions, give us a call or send us an email. We look forward to hearing from you!

Where Is the Bucks and Montgomery County Market Heading?

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Buyer traffic between July and September was very strong across the United States. For that same time period, however, seller traffic has been pretty weak nationwide. In other words, the demand for homes is outpacing the supply, which means we need more homeowners to step up and sell their homes!

Our goal is to get more sellers involved in the marketplace. A balanced market is a six-month supply, anything over is a buyer's market and anything under is seller's market. Right now, our inventory is sitting at 4.6 months, which means sellers currently have a huge advantage!
 

Despite the fact that we didn't have too many sellers in the marketplace, existing sales in the marketplace are way up year over year. Not only are homes selling -- they're selling quickly because inventory is low!

If you're ready to sell your home, there's simply no reason to wait! The market is in fantastic shape for sellers, so now is the time to start preparing your home for the market!

If you have any questions about our market, or if you would like real estate help of any kind, please don't hesitate to reach out to us. We would love to hear from you!

When Is the Right Time to Sell?

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As the holidays approach, many sellers wonder whether they should take their home off the market and just wait until the spring season. Today, I want to share the pros and cons of selling now.

The most important thing to remember is that the best time to sell is when you're ready to. Conventional wisdom typically says that the winter is not a great time to sell, but now that the Internet plays such a huge role in real estate, buyers can look at homes year-round. The holidays don't stop people from buying and selling homes like they used to.

To be fair, there are fewer buyers in the cold months here in Bucks & Montgomery County. However, the buyers who do come out to view homes in the cold are quality buyers who are serious about making their move. Although there are fewer buyers in the winter, there are also fewer sellers, which means homeowners have less competition when listing in the winter months.

Recently, the Fed has made it clear that they intend to raise interest rates. When rates start to rise, it will take many buyers out of the market as their ability to afford a home will decrease as rates increase. This is why we highly encourage you to buy or sell now before rising rates negatively impact our market  

If you have any questions about the current market, or if you would like our assistance buying or selling this winter, don't hesitate to reach out to us. We would love to hear from you!

Join Us for Our Pie Giveaway!

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As most of you know, every year we have a Thanksgiving pie giveaway to honor the support of our past clients and to thank you for the referrals you have given us.

This year, we will be taking orders for apple and pumpkin pies up to Tuesday, November 17th. Call Barb at (215) 591-4796 to place your order, or send her an email at barb@lindadalerealestateexperts.com.

We will distribute the pies at our office on Tuesday, November 24th between 3:00 and 6:00 p.m., and Wednesday, November 25th between 1:00 and 4:00 p.m. Just let Barb know if you would like an apple or pumpkin pie, and then you can pick it up at 1126 Horsham Rd, Maple Glen, PA 19002.

We look forward to seeing you, and we sincerely appreciate the support we've received. We wish you and your family a happy Thanksgiving!

How Can a Home Inspection Protect You When Buying a Home?

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People often come to us asking why they need to do a home inspection. Today, Rick Ray of SPY Inspection Services explains just a few of the many reasons home inspection are so important.

We work closely with SPY Inspection Services in Lansdale. During a home inspection, they will look at seven main components. They will look at the foundation and the framing of the home to ensure it's structurally sound; the exterior of the home, focusing on doors, windows, grading, driveways, sidewalks, and the attached decks and porches; the roofing, looking at the age of the roof, the gutters, and the shingles; the plumbing, including the water heater and drainage systems; electrical systems, like service entrance wires, the panels, the breakers, the fuses, and the outlets; the HVAC components, including the heating and air conditioner systems; and a complete interior inspection, looking at the walls, ceilings, floors, stairs, the garage, and any appliances included with the sale of the house.

Home inspections are simply a safe way for the buyers to know exactly what they're buying! There are over 100 items that the folks over at Spy Inspection Services will look at, so they are clearly very comprehensive. If you have any specific questions about the home inspection process, you can reach Rick at (215) 362-1234 or Info@SPYInspections.com. Of course, if you need help on the real estate side of things, don't hesitate to reach out to us. We would love to hear from you!

Why Should You Consider a Pre-Listing Home Inspection?

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Lately, there has been a trend developing in the real estate industry regarding home inspections. Many sellers are now choosing to do a pre-listing home inspection before they even put their home on the market. Today I have brought in my favorite home inspection expert, Rick Ray from Spy Inspection Services, to talk about the advantages of getting a pre-listing home inspections. There are 6 main benefits. They are:

1.  Choices

With a pre-listing home inspection, the seller is in control. They can choose when they want to have the inspection done, who they want to do the inspection, and they also have the opportunity to inform the inspector about upgrades or improvements made to the home. 

2. Flexibility

Once you have the pre-listing home inspection report, you can be proactive about any changes or improvements that need to be made to the home in order to sell for the highest amount of money possible, according to the home inspector. It also gives you ample time to get competitive bids put together in order to do those changes and upgrades, which is often more cost-effective than having to do improvements based on the buyer’s inspection.

3. Putting together an accurate listing price

This is huge. A lot of times this accurate listing price can be put together in a way where we actually get a higher asking price because the home was inspected better than we thought. It also limits re-negotiations by identifying problems ahead of time.

4. Full disclosure

This is huge for buyers. By providing this pre-listing inspection, you give the buyers more confidence in their purchase. When they get the inspection report and see the third-party evaluation, it lets them know you are trustworthy and they might even waive their own inspection as a result.

5. Less stress

When all of these things are combined, it leads to much less stress for both buyer and seller.

If you have any questions for us, feel free to give us a call or send us an email. If you want to get a hold of Rick for any of your home inspection needs, give him a call at (215) 362-1234 or send an email to info@spyinspections.com.

We look forward to hearing from you soon!

The Best Place to Live

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Many relocating buyers ask me why Montgomery & Bucks County is such a great place to live. 

There are really too many reasons to mention, but if I had to narrow it down, I would say one thing is we are a mere three-hour drive from 25% of the population of the United States.

We have the best of everything. We have the city, the suburbs, and the country. We have the best schools and beautiful farms. Our schools compete with private schools throughout the nation. The weather is great through all four seasons. Winter is about two months long, and then it's spring again 

We are also very close to Philadelphia, the birthplace of our nation, so our area is rich with national history. 

No matter what you're looking for, you'll find it here. If you have any questions, give me a call or send me an email. I look forward to hearing from you!

What Simple, Inexpensive Updates Can You Make on Your Home?

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If you are looking to sell your home, your goal is to get the most money possible in the shortest amount of time. One of the best ways to add value and appeal to your home is through home staging. Home staging is the art of selling a home faster by making a home more appealing to the right buyer. You have a lot of options for how you want to go about it. You could hire a professional staging company, which could be substantially costly. However, most of the time, a few simple fixes is all it takes to transform a living room. 

Today we are going to go through some of our most favorite, inexpensive home staging tips for you. We hope these will help you save both time and money when it comes time to sell your home.

A fresh coat of paint is always a good idea. Neutral, warm colors work best for highlighting the natural light in your home. This will make it easier to brighten the room with some colorful accessories and pull everything together.

A common design problem facing many homeowners is that they have no real entry way, as their front door opens up to the living room. To fix this, you can add a table, some lighting, and a rug to "fake a foyer" and make it feel like the living room and entryway are two different spaces.

A patterned rug, some pillows, or bright curtains add a ton of texture and an eclectic layer to the space, which is essential to a well-designed room.

In some cases, a "make-under" is just what you need. In the case of most fireplaces, taking some accessories and clutter away enhances the look and feel of the room greatly.

You could spend well over a few thousand dollars with a staging company, or you could do these fixes yourself for around $500. That's a small investment considering the value that you add to your home by adding those pieces.

If you have any questions for us about staging your home or anything else real estate related, give us a call or send over a quick email. We are always here to help, and would love to hear from you!

How Can You Buy and Sell Simultaneously in Bucks & Montgomery County

A lot of home sellers also need to buy a home. This creates a common problem where people need to buy and sell simultaneously. This can be a logistical nightmare if proper planning and organization are not involved. 

1. Selling first and then buying: You can sell your home and get equity to help you buy another, but then you have to hurry to find another home if you want to avoid having to use interim housing.


2. Buying a home and then selling: This is a good option if you can afford it. Rushing into a home purchase is risky, and we don't recommend it. Paying a double mortgage is difficult even for people who can afford it, but this strategy also allows you to focus energy on selling your home for top dollar.


3. Buying and selling at the same time: This is where my experience comes in. We can use contingency clauses to ensure that as soon as you sell, you have a home to move into. This strategy takes a lot of communication and planning, but it's entirely possible and we've done it many times before.

If you need any assistance when you're buying, selling, or doing both at the same time, please don't hesitate to contact me.