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Main Line Real Estate News & Market Trends

You’ll find my real estate blog to be a wealth of information, covering real estate Market Trends and real estate news, financial articles, numerous guidance articles on buying a home, selling a home, financing a home purchase, home loans, home maintenance, decorating, and design, among many others. The articles are valuable to both first-time home buyers and sellers, as well as to experienced home buyers and sellers. Please reach out if you have any questions at all. The articles in this blog contain a wealth of valuable insights and information. Enjoy! I love helping my clients find their dream home and preparing their home for sale. I'd love to talk with you!

Janis

Janis Peterson, Realtor®, GRI, ABR, SRES, CSP

Nov. 1, 2021

Easy and Inexpensive Ways to Add Value to Your Home

Easy and inexpensive ways to add value to a home Main Line Homes

Easy and Inexpensive Ways to Add Value to Your Home

 Are you selling your home and on a budget for ways to add value to your home for sale (or even if not selling your home, to add value to it)? The ideas below could be just what you're looking for. These unique ideas are easy to implement and won't break the bank. Many of these home improvement projects are do-it-yourself, so you won't have to spend money on a professional.

Power Wash 

Power wash your home.  Give the outside of your home a good cleaning. You can hire a local company or individual to power wash your house at a very reasonable rate. You will be surprised how much dirt settles on the outside of your house. Getting rid of that layer of dirt will make a major difference in the outside appearance of your home. Don't just power wash the house though. Go ahead and clean the driveway while you're at it. Removing old oil stains from the driveway will have a big impact on your curb appeal. Speaking of curb appeal, that's next on our list.

Landscaping

 Sure, you can spend thousands of dollars on landscaping but you don't have to. There are many simple and inexpensive landscaping ideas that will have a major impact on the curb appeal of your home. Here are a few easy landscaping ideas: 

  Mulch flower beds and trees

  Plant a tree

  Plant vibrant colored flowers

  Lay down some pavers

  Add solar lighting to flowerbeds

Paint

 Giving your whole house a fresh coat of paint does not have to cost an arm and a leg if you do it one section at a time. Consider starting on the front porch since that will have the most effect on your curb appeal. Don't forget to paint the front door. After the porch, paint the rest of the outside. Once you move inside, start with the kitchen before moving on. Most of the time, the experts at your local paint store are happy to help you select colors. Remember to bring along some pictures of your house when you go to the paint store. This will help them as they assist you in selecting colors. Here's a bonus tip. Paint the floor in your garage. It will look amazing and give your whole garage a facelift.

Kitchen Faucet

Upgrading to a modern faucet with a bold new look will make a huge impact on your kitchen's appearance. When choosing your new faucet, make sure you select one with a modern design. You want a faucet that makes people say "Wow!" when they walk into your kitchen. Spend a few extra dollars for that trendy new faucet. You won't regret it.

Water Purifier

 A water purification system can be added to your kitchen for a very reasonable price. These units are typically installed under your sink and add a filtered water tap to your sink. This means no more buying bottled water. The only drawback is that you will need to hire someone to install this system.

Cabinet Hardware

 The next best thing to upgrading your cabinets is to upgrade the cabinet pulls and knobs. This project is so simple that almost anyone can do it. It's also very inexpensive. Pulls and knobs are surprisingly affordable. If you only have time or money to make one change in your kitchen let this be the one.

Garbage Disposal

If you don't already have a garbage disposal in your kitchen, you should add one. They are very inexpensive and will definitely add value to your home. These days, not having a garbage disposal will actually detract value from your home.

Smart Technology

Adding smart technology to your house has never been easier. Even something as simple as adding a digital thermostat will give you that "smart-house" vibe. You can start slow and add one piece of technology at a time. After the thermostat, consider starting with a smart garage door opener. Other things to consider are smart power outlets and light fixtures.

Switch Faceplates

 Depending on the age of your home, the faceplates for the light switches may be very dated. Take a picture of your current light switch faceplates then go to a hardware store. Compare your faceplates with the modern ones they have for sale. If yours seem dated, buy new ones. They are very inexpensive and easy to change out.

Security System 

There are many options for adding a home security system these days. The new trend in home security is a wireless system that you can install yourself. These modern security systems allow you to purchase each of the components separately. For example, you could simply start by protecting one door. Then, over time you could protect more entry points. A security system adds value as well as a layer of protection to your home.

As you see, there are many inexpensive things that can be done to add value to a home, whether selling it or not. The ideas above are by no means an exhaustive list. As you work your way through our list, you will most likely come up with many new and creative ideas of your own. Best of luck to you on your home improvement journey.

About Main Line Homes

Janis Peterson, Realtor®, GRI, ABR, SRES, CSP, www.mainlinehomes.com, is an Accredited Buyer Representative (ABR). The process of preparing, listing, and selling your home has many complicated steps for you to navigate along the way. If you are considering selling your Main Line home, contact Janis, and she can help guide you through all the steps of selling your home, including determining how much your Main Line home is worth, staging, listing your home for sale, and advertising, to maximize the sale price of your home and to minimize the hassle and inconvenience. Janis Peterson has been helping Main Line home Sellers and Buyers since 1994. Areas in which she specializes include homes and real estate for sale in Montgomery, Delaware County, and Chester County, PA, Pennsylvania, including Lower Merion Township, Narberth Borough, Haverford Township, Radnor Township, Newtown Township, Easttown Township, Tredyffrin Township, Willistown Township, Malvern Borough, and Marple Township. Contact Janis at Tel: 610-642-3744 or e-mail her at janis@mainlinehomes.com, and she will help you create a winning strategy to sell your home!

Janis Peterson, REALTOR®, GRI, ABR, SRES, CSP
Main Line Homes Luxury Real Estate

Keller Williams Main Line
Suburban Square
6 Coulter Ave 
Ardmore, PA 19003 
Direct: 610-642-3744 
www.mainlinehomes.com
www.mainlinehomes.com/blog/
Janis@mainlinehomes.com

Posted in Selling A Home
Oct. 4, 2021

Top 3 Renovation Projects That Add Value to Your Home

Top 3 Renovations that Add Value to Your Home Main Line Homes

Home Improvement: Top 3 Renovation Projects That Add Value to Your Home

 If you have plans to sell your home or you want an upgrade, you might want to consider tackling a home renovation project. However, while there are many home renovation projects that you can take up, not all of them will add value to your property. Because home remodeling can be a massive undertaking, making sure that the reward is worth it before taking on the project is very important.

 In other words, having a good understanding of the type of renovations that yield the highest return for your money is vital, especially if the house is going on the market. Even if you don't have plans to sell your home anytime soon, it is always best to choose a home improvement project that adds value to your property. Here are the top 3 home renovations that will increase the value of your home.

 1. Renovate Your Kitchen

A kitchen remodel should be done with functionality in mind. Although the aesthetics aspect is important, the functionality aspect must be your top priority. The kitchen is generally considered the heart of the home, and it is not hard to see why. Although the main purpose of a household kitchen is to prepare and cook meals, it is also a place where family and friends tend to congregate, making it the epicenter of the home. For instance, in addition to preparing and cooking meals, it is the ideal place for the family team huddle, a computer room where bills are paid, an art museum for the kids, and a good place to chitchat with friends.

That is why it is important to have a functional kitchen. A kitchen remodel project can be fun and satisfying, especially if your needs and desires are met. According to Remodeling Magazine's 2021 Cost vs. Value Report, homeowners can expect a 72.2% return on investment for a minor kitchen remodel, and 57.4% for a major remodel. So, when it comes to home improvement projects that can raise the value of your home, kitchen remodeling definitely makes the list. You can update your kitchen with new appliances and other trending features such as wine refrigerators, commercial-style ranges and, drawer-style microwaves.

2. Modernize Your Bathroom

You can also increase your home's value by upgrading your bathroom. According to Remodeling Magazine's Report, homeowners can expect a 60.1% return on investment for a bathroom remodel (midrange), and 57.9% for a universal design. Although the bathroom may seem like a small part of your home, a well-designed bathroom can be a major selling point for any house. You can start with small upgrades that can have a big impact, like replacing inefficient or broken elements such as a leaky faucet or an old showerhead, adding bold finishes and spa-like amenities, adding a fresh coat of paint, or adding new light fixtures.

If you don't have a limited budget, you can take on a bigger bathroom remodeling project that will increase the value of your home. For instance, you can replace your old vanity with a modern one. And, make sure that the vanity countertop has high-end materials like marble and granite. If the bathroom has sufficient space, you can also add dual sinks, especially if it's the master bathroom. You can also consider high-quality flooring options such as ceramic tiles or engineered hardwood flooring.

3. Replace Your Garage Door

According to Remodeling Magazine's Report, homeowners can expect a 93.8% return on investment for a garage door replacement project. Exterior renovation projects such as garage door replacements generally have a high return on investment because first impressions and curb appeal normally make a huge difference for potential homebuyers. So, although garage doors tend to last for decades, one of the best ways to raise the value of your home is to replace an old, worn-out garage door with a new one. Because the cost of replacing the garage door pays for itself, when you invest in a new garage door, you will essentially be making a cost-effective and smart decision.

Apart from monetary profit, a garage door upgrade also has other notable benefits. For instance, it is easier for intruders to break into garage doors with predictable access codes or worn-out locks. And, once the intruders manage to enter your house through the garage, the central area of your house will be easily accessible to them. For maximum security, opt for modern garage doors and openers that have rolling code technology. This type of technology sends a randomly created password to your mobile phone every time you want to open the door. Modern garage doors are also energy efficient. These days, you can choose garage doors made from high-quality materials that provide adequate insulation. If your garage door is properly insulated, it helps to keep the rest of your home warm during winter and cool in the summer.

Although there are many renovation projects that homeowners can tackle, there are certain projects that provide a better return on investments than others. If you are considering putting your house on the market, the three home renovations discussed above will add major value to your home.

About Main Line Homes

Janis Peterson, Realtor®, GRI, ABR, SRES, CSP, www.mainlinehomes.com, is an Accredited Buyer Representative (ABR). She specializes in real estate in Montgomery County, Delaware County, and Chester County, Pennsylvania, and has been offering exceptional service to Philadelphia Main Line Buyers and Sellers, helping them list, sell, and buy Main Line homes and properties since 1994. We offer homes for sale in some of the most popular Main Line neighborhoods, including Ardmore, Berwyn, Bryn Mawr, Gladwyne, Wayneand Villanova. Get started on your Home Search today!

The process of preparing, listing, and selling your home has many complicated steps for you to navigate along the way. Janis Peterson has been helping Main Line Buyers and Sellers since 1994 and can help guide you through all the steps of selling your home, including determining how much is your home is worth, staging, listing your home for sale, and advertising, to maximize the sale price of your home and to minimize the hassle and inconvenience.  

If you are thinking of selling your home, Contact Janis at Tel: 610-642-3744 or e-mail her at janis@mainlinehomes.com, and she will help you create a winning strategy to sell your home!

Janis Peterson, REALTOR®, GRI, ABR, SRES, CSP
Main Line Homes Luxury Real Estate

Keller Williams Main Line
Suburban Square
6 Coulter Ave 
Ardmore, PA 19003 
Direct: 610-642-3744 
www.mainlinehomes.com
www.mainlinehomes.com/blog/
Janis@mainlinehomes.com

Posted in Miscellaneous
Sept. 1, 2021

What's So Great About Hiring A Realtor®?

What's So Great About Hiring A Realtor? Philadelphia Main Line Homes

What's So Great About Hiring A Realtor®?

Before you buy a new home or sell your existing residence, you need to decide whether you want to hire a real estate agent. So, what exactly is so great about hiring a Realtor®? Continue reading the information-packed paragraphs below to learn about what a professionally licensed real estate agent can do for you.

(1) Helps You Find a Suitable Home

With several free real estate apps available to download on your cell phone or another electronic device, you can search for a new home yourself. So, why would you need to hire a realtor? A licensed real estate agent often has privy information about homes, of which you may have limited to no access. This privy information could include items, such as houses not yet listed on the market, more comprehensive data on specific homes, current neighborhood sales statistics, and networking with other realtors.

(2) Supplies Answers to Real Estate-Related Questions

No matter whether you're buying or selling a house, you're sure to encounter a barrage of questions regarding them. By hiring a top-notch realtor, you have someone with expertise who can provide the answers you need. And if your agent doesn't know the answer to a specific question or concern you may have, they can tap into their professional resources and contacts to find out the correct answer for you.

(3) Takes Care of Contract Legalities

A certified real estate agent is proficient in handling real estate contracts. They are responsible for making sure every real estate contract, negotiation, addendum, and other property-related items are carried out correctly. A realtor also serves as the professional liaison between a buyer or seller and their agent, so there is generally no need for direct verbal contact between a buyer and seller.

(4) Gives Professional Advice

A seasoned realtor who assists you in buying or selling a home often possesses a wealth of information and real estate-related advice that you might need. For example, a real estate agent can point you towards competent, customer-friendly mortgage institutions that they've dealt with in the past if you need to apply for a loan. They can also provide you with a list of local home inspectors, internet and cable providers, qualified repairmen, lawn service companies, and other service people who are proficient in their trades.

(5) Provides You with Peace of Mind

When you hire a reputable, licensed real estate agent, you've instantly acquired an expert to help you sell or purchase a home. They work on your behalf in your best interest to take care of a variety of real estate-related items, such as professionally marketing your home, preparing legal contracts, negotiating sales prices, and scheduling house showings. And since a qualified realtor is overseeing the entire real estate buying or selling process, it provides you with peace of mind and much less stress than without them.

Refer to the valuable information above to revisit the many reasons why an experienced, honest real estate agent is a great choice for you as a home buyer or seller. Their expertise, professionalism, and experience can make all the difference when you're buying or selling a home. Reduce your stress levels and hire a proven, certified realtor for your next property transaction. 

Want to learn more?

If you’re buying or selling a home, you will want to work with an experienced Realtor®.  We at Main Line Homes have been working with home buyers and sellers in Philadelphia’s best suburbs for years. Let us answer your questions today!

Janis Peterson, REALTOR®, GRI, ABR, SRES, CSP 
Keller Williams Main Line 
6 Coulter Ave
Suburban Square 

Ardmore, PA 19003 
Direct: 610-642-3744 
www.mainlinehomes.com
www.mainlinehomes.com/blog/
Janis@mainlinehomes.com

Posted in real estate topics
July 16, 2021

Preparing to List Your Home for Sale? Start with the Basement

Preparing to list your home? Start with the basement Main Line Homes

Preparing to List Your Home for Sale? Start with the Basement

If you're hoping to sell your home quickly and for a good price, you can't overlook the importance of staging. But while making the living areas look bright, spacious, and comfortable is an essential start, not everyone pays the same level of attention to the basement.

This is a mistake, as savvy buyers know that a basement can reveal a lot about a home, and showing it in a bad light could easily cost you that sale. Here are six things to cover before thinking about listing.

1) Check the Heating System

Your home's heating system not only needs to be in good working order, but it needs to inspire confidence in a potential buyer. Make sure there are no unusual odors or noises coming from the furnace, and that the control panel and other visible surfaces are clean and look well maintained.

It's also a good idea to bring forward a routine service for the system, so that you'll have a recent certificate to show viewers as an extra selling point.

2) Electrical Control Panel

Similarly, if your home's electrical panel is in the basement, give it a quick clean to make sure it looks fresh and well looked after. Replacing a home's electrical system is an expensive inconvenience that any buyer will want to avoid, so make sure the panel looks in reassuringly good condition.

3) Inspect the Pipework

Pipework is often concealed in other parts of your home, but in the basement it's usually on full show. Check all the joints for any signs of rust or leaks, and also check the walls and floor nearby for lingering evidence of any old bursts.

4) Signs of Pests

From rodents to termites, pests in the basement can often go relatively unnoticed. However, an alert viewer will soon pick up on any signs of an infestation. Check for droppings, chew marks, or other tell-tale signs, and remove any bait or traps you might usually leave down. Don't give a potential buyer any excuse to suspect a pest problem.

5) Damp and Mold

It's normal for a basement to smell at least a little musty, but any clear odor of damp or mold will be a quick turn-off for a buyer. Also check for visible water marks or stains, even from a previous damp problem that's since been fixed, and deal with any patches of mold that may be lurking in the darker corners.

6) Deep Clean

Lastly, while a basement is usually a functional space rather than an area for daily living, it's still important that it's as clean and welcoming as possible. A deep clean to remove cobwebs and dust from every nook and cranny will give a much more positive impression, and will also help to clear up any stale odors that are inevitable in a closed, subterranean space.

When you're preparing to list your home, you'll probably spend hours on improving curb appeal and staging the main rooms. But even though your basement might not be a main selling point for your home, any problems that meet a viewer could quickly scupper their interest. Don't overlook the importance of making your basement look the part, and you'll reap the rewards with an easier sale.

About Main Line Homes

Are you interested in hiring a real estate team that is experienced in home selling throughout the Philadelphia Main Line suburbs, including Montgomery County, Delaware County, and Chester County? Janis Peterson, Realtor®, GRI, ABR, SRES, CSP, Main Line Homes, specializes in offering exceptional service to Philadelphia Main Line Buyers and Sellers since 1994.

The process of preparing, listing, and selling your home has many complicated steps for you to navigate along the way. Janis Peterson has been helping Main Line Buyers and Sellers since 1994 and can help guide you through all the steps of selling your home, including determining how much is your home is worth, staging, listing your home for sale, and advertising, to maximize the sale price of your home and to minimize the hassle and inconvenience.  

If you are thinking of selling your home, Contact Janis at Tel: 610-642-3744 or e-mail her at janis@mainlinehomes.com, and she will help you create a winning strategy to sell your home!

Janis Peterson, REALTOR®, GRI, ABR, SRES, CSP 
Long and Foster Real Estate, Inc. 
355 Lancaster Ave. Suite 100 
Haverford, PA 19041 
Direct: 610-642-3744 
www.mainlinehomes.com
www.mainlinehomes.com/blog/
Janis@mainlinehomes.com

Posted in Selling A Home
June 16, 2021

Tips to Sell Your Home Quickly

How to sell your home quickly Main Line Homes

Tips to Sell Your Home Quickly

Selling your house quickly, without delay, might seem like a tall order. In a busy city, it could even border on the bewildering. Where to start? New properties come onto the market every week, so how can yours stand out from the crowd?

Don't despair! Below, you will find practical tips to attract buyers to your home. Even if dozens of other houses are on the market, following this advice will boost the probability of an early sale.

First impressions

Firstly, potential purchasers place a great deal of importance on initial appearance. That's why entrance ways and garden areas should be well maintained and trimmed. Similarly, doors and window frames are at their best with a fresh lick of paint.

Well-kept surroundings

If you have green fingers, a hanging basket or window box is an extra detail that helps to make a property look presentable and welcoming. It's important not to overlook the backyard or lawn, too. Serious home seekers will find it easier to imagine themselves moving in and relaxing there if it appears well-maintained.

Spick and span inside

Inside, minor improvements count. Consider changing net curtains or window blinds, touching up paintwork and placing flowers in the sitting room. Little touches will add value by raising the overall standard and, ideally, leaving buyers with a warm feeling. On the other hand, grubby carpets or cupboards with doors askew or missing handles will likely put them off.

Tasteful colors

If you plan to redecorate before selling, a neutral choice of color(s) makes it easier for a buyer to visualize living there. Most people find it easy to imagine their belongings superimposed on a blank canvas of muted tones. Conversely, bright and bold shades are a personal choice and will narrow down the appeal.

Uncluttered shelves

To get prospective buyers visualizing themselves living in the property, depersonalize shelves and pare down the ornaments wherever possible. While you may not want to opt for total minimalism, simplified, uncluttered interiors tend to appeal more.

Attracting Buyers

On the day of the viewing, neutral background music at a low volume is an excellent idea to help promote a relaxed atmosphere. Similarly, the aromas of freshly brewed coffee or newly-baked bread tend to evoke positive emotions.

Pricing

To achieve that yearned-for sale within a reasonable timescale, it is essential to be realistic and not set the price too high. Make a comparison with similar-looking properties in the neighborhood, especially those with the same number of bedrooms and bathrooms.

Remember price points: a price tag of $495,000 sounds considerably less than $520,000.

Timing

With few exceptions, Spring and Autumn are the best times of year to put a home on the market. You might want to list yours on a digital channel, as well as with an agent.

Whichever option you choose to promote the house or flat for sale, professional-quality photographs present the best possible image. For some of your picture portfolio, you could make judicious use of a wide-angle lens to show off that bay window or refurbished kitchen.

Spreading the word

By following the above suggestions, your property ought to sell when the right buyer comes along. One final tip: be ready to mention your home for sale in conversation if or when a suitable opportunity presents itself.

Good luck with selling your home and moving to a new one!

About Main Line Homes

Janis Peterson, Realtor®, GRI, ABR, SRES, CSP is an Accredited Buyer Representative (ABR). She specializes in real estate in Montgomery, Delaware, and Chester County, PA, Pennsylvania, and has been offering exceptional service to Philadelphia Main Line Buyers and Sellers since 1994.

The process of preparing, listing, and selling your home has many complicated steps for you to navigate along the way. Janis Peterson has been helping Main Line Buyers and Sellers since 1994 and can help guide you through all the steps of selling your home, including determining how much is your home is worth, staging, listing your home for sale, and advertising, to maximize the sale price of your home and to minimize the hassle and inconvenience.  

If you are thinking of selling your home, Contact Janis at Tel: 610-642-3744 or e-mail her at janis@mainlinehomes.com, and she will help you create a winning strategy to sell your home!

Janis Peterson, REALTOR®, GRI, ABR, SRES, CSP 
Main Line Homes
Long and Foster Real Estate, Inc. 
355 Lancaster Ave. Suite 100 
Haverford, PA 19041 
Direct: 610-642-3744 
www.mainlinehomes.com
www.mainlinehomes.com/blog/
Janis@mainlinehomes.com

Posted in Selling A Home
June 3, 2021

Quick Budget-Friendly Ways to Update A Home for Sale

Quick budget-friendly ways to update a home for sale

Selling Your Home? 5 Quick and Budget-Friendly Ways to Update It

Just about everyone who sells their home does some work before putting it on the market. Even in the hottest areas for real estate, updated homes in good condition sell the fastest and command the highest prices.

But it doesn't make financial sense to spend a ton of money on major work if you're not staying in the home. Quite simply, not many home improvement projects result in anywhere near a dollar-for-dollar return on investment.

That said, you can often freshen up a dated home with a few cosmetic touches. If you're selling your home, here are five quick and budget-friendly ways to update it.

Start outside

The front of your house is what prospective homebuyers see first. If you want them to have the impression of an updated home, the curb-facing exterior is a good place to start.

A modern entryway is one thing buyers appreciate, and replacing an old front door with a more contemporary one is a quick fix. Even painting a drab existing door with a more contemporary color can freshen up your home's front.

A new garage door can also dramatically change the appearance of your home's exterior. And, according to Remodeling Magazine's annual "Cost vs. Value" report, both garage doors and front entryways provide above-average returns on investment.

Do minor kitchen touch-ups

The kitchen is often the hub of the household, where most people spend the most time together, so it's a room that can make or break a home sale. A major kitchen overhaul, however, is a costly undertaking. Fortunately, there are a few ways to modernize a dated kitchen with a few tweaks rather than an entire renovation.

Instead of replacing existing cabinets, you could paint them or replace only the fronts with modern faces. Contemporary cabinet hardware that ties in with a new faucet is an updated touch. Replacing old appliances with new stainless steel units never hurts, and swapping old lighting fixtures out is quick and inexpensive.

Fresh paint can do wonders

Especially if your home doesn't get a lot of natural sunlight, dark or dull wall colors can make it appear dated. A lighter, neutral-toned coat of paint throughout can help provide a better flow, which fits more contemporary design trends. Any walls that have old wallpaper are especially candidates for peeling and painting.

And don't forget the ceilings. You might be surprised at how a new coat of bright white paint overhead can truly transform a room that hasn't been painted in some time.

Interior painting is an inexpensive project that most people can do themselves, and it can be completed over a weekend or two, even if you have to do an entire house.

Brighten up the bathrooms

Bathrooms are parts of the house that can seem outdated very easily. A deep clean that includes scrubbing old tile grout is a good place to start. Like the rest of the house, bathroom walls can usually use a fresh coat of light-colored paint to brighten things up.

Speaking of brightening things up, replacing old lighting fixtures with modern, brighter LED arrays can do wonders for an old, dull bathroom.

Focus on flooring

Your home's flooring is something prospective buyers will notice right away, in every single room of the house. Flooring that's super-outdated or that has excessive wear and tear is a huge turnoff for homebuyers.

Hard-surface flooring gives a house a more up-to-date look, and materials such as luxury vinyl tile planks make it inexpensive and fairly easy to replace old flooring with something fresh. If carpet is a must, you'll want to make sure older carpet is at least thoroughly cleaned by a professional or replaced with something contemporary.

The bottom line

Almost every home seller is going to do some work before putting their home on the market. If you want to freshen up an outdated home, keep in mind that you don't always have to break the bank or spend months doing projects.

About Main Line Homes

Janis Peterson, Realtor®, GRI, ABR, SRES, CSP, owner of www.mainlinehomes.com, is an Accredited Buyer Representative (ABR). She specializes in real estate in Montgomery, Delaware, and Chester County, PA, Pennsylvania, and has been offering exceptional service to Philadelphia Main Line Buyers and Sellers since 1994.

Janis Peterson, REALTOR®, GRI, ABR, SRES, CSP 
Long and Foster Real Estate, Inc. 
355 Lancaster Ave. Suite 100 
Haverford, PA 19041 
Direct: 610-642-3744 
www.mainlinehomes.com
www.mainlinehomes.com/blog/
Janis@mainlinehomes.com

Posted in Selling A Home
May 23, 2021

CONGRATULATIONS 2021 GRADUATES

Congratulations Grads 2021

CONGRATULATIONS 2021 GRADUATES!

WWW.MAINLINEHOMES.COM
Janis Peterson, REALTOR®, GRI, ABR, SRES, CSP
Long and Foster Real Estate, Inc.
355 Lancaster Ave. Suite 100
Haverford, PA 19041
Direct: 610-642-3744
https://bit.ly/2BYcaTV
#mainlinehomes #RealEstate #Realtor #BuyHome #homebuying #homebuyers #1stimehomebuyer #homeselling #homesellers
Posted in Miscellaneous
May 15, 2021

5 Factors that Determine How Much You Should Sell Your Home For

5 factors that determine how much you should sell your home for

 

5 Factors that Determine How Much You Should Sell Your Home For

Selling a home, even if you use a real estate agent, is a stressful experience, especially if you're trying to sell quickly. But before selling your home, you have to consider how much to sell it for. This is true for both sellers who are moving and those who are selling as an investment. The big question is what price should you tack on it? You should take into account five factors when deciding how much to sell your home for. Let's look at each one.

Competitive Market Analysis

One of the most important factors to consider is the comparative market analysis, a report your real estate agent can run to help you decide how to price your home for a fast sale. The CMA is a snapshot of sales in a similar neighborhood in which your home is offered, and it provides insight into how much a buyer might be willing to pay for a home similar to yours. The CMA is a very useful tool for sellers since it gives a good idea of how much you can expect to receive for your home in the current market. You can also research yourself by looking at how much comparable properties sold for on online real estate sites.

The Location of Your Home

Location is one of the biggest factors that will affect the value of your home. Though house prices vary from region to region, they are all affected by your location. Even within the same city, the value of the home will change based on its location. For example, a house located in a neighborhood with easy access to amenities and a good school system will have an advantage over one in a neighborhood next to a busy highway. The best way to look at the effect of location on a home's selling price is to compare homes that are comparable in size and quality but differ in their location.

The Condition of Your Home

The condition of your home plays a major role in determining how much it's worth A property in good condition usually moves faster and commands a higher price than one in bad condition or in need of repairs or upgrades. Does your home have a new roof and a fresh coat of paint? That's an advantage in a buyer's eyes.

Plus, there are factors you might not consider that can influence a buyer. If you're unsure of the condition of your home, do a top-to-bottom home inspection with fresh eyes. Walk around your home and note anything that loos amiss, whether it's a broken window or mold in the bathroom. Use a camera to take pictures of any problems you spot, so you can decide whether you should address the problem before selling. . You can also check for hazards like exposed electrical wiring or leaking pipes that might be a hazard. Hopefully, you've maintained your home over the years and it shows!

Have You Done Any Updates?

Real estate agents recommend putting your best foot forward as soon as your home hits the market. An updated home is likely to attract buyers and sell for a higher price than a house that has a dated interior. An updated kitchen and bathrooms are highly desirable to buyers and can help your home move quickly and at a higher price.

If you can only update one room before putting your house on the market, choose the kitchen. Homes that have a contemporary kitchen sell faster and at a higher price. Other renovations may not count as much or could be detrimental. For example, a swimming pool might sound like an advantage, but some buyers have no interest in one and may even see it as a safety liability and something they have to spend time to maintain.

The Recommendation of Your Realtor®

Consider the advice of your real estate agent too. Your agent will be the one doing the hard work so you don't have to. Agents know how to price your home, and they know how to sell it. So go ahead and let your agent do the pricing for you! They understand the nuances of the housing market in your area and often have an intuitive feel for how much homes will sell for. Plus, they're able to run a comparative market analysis and base their recommendations on what the report shows.

When you hire a real estate agent, you count on them to be your advocate, which means they do the work of selling your home for you. They will market your home, show it to potential buyers, negotiate the selling price, and handle all the paperwork and minor details that come with selling a property. So, choose a competent one with experience.

The Bottom Line

Price your home appropriately and you have a better chance of selling it quickly. Now you know some of the factors to consider when deciding on a price.

References:

"How to Price Your Home to Sell | Zillow." .zillow.com/sellers-guide/how-to-price-home-to-sell/.

"A Guide for Pricing Your Home to Sell | realtor.com®." 02 Jan. 2014, realtor.com/advice/sell/set-the-list-price-of-your-home/.

 About Main Line Homes

Janis Peterson, Realtor®, GRI, ABR, SRES, CSP, www.mainlinehomes.com, is an Accredited Buyer Representative (ABR). She specializes in real estate in Montgomery, Delaware, and Chester County, PA, Pennsylvania, and has been offering exceptional service to Philadelphia Main Line Buyers and Sellers since 1994. 

If you're thinking of selling your home, give Janis a call at 610-642-3744 or e-mail her at janis@mainlinehomes.com, and she will be happy to come out and give you a full Comparative Market Analysis (CMA) of your house at any time.

Janis Peterson, REALTOR®, GRI, ABR, SRES, CSP 

Long and Foster Real Estate, Inc. 
355 Lancaster Ave. Suite 100 
Haverford, PA 19041 
Direct: 610-642-3744 
www.mainlinehomes.com
www.mainlinehomes.com/blog/
Janis@mainlinehomes.com

Posted in Selling A Home
May 1, 2021

5 Major Benefits of Hiring a Buyer's Agent When Purchasing a Home

Buyers Agent Philadelphia Main Lines Montgomery Delaware Chester County PA Pennsylvania

 

5 Major Benefits of Hiring A Buyer's Agent When Purchasing A Home

If you're planning to shop for a new home soon, consider hiring a buyer's real estate agent to guide you through the process. Unlike a seller's agent, who works for the home seller, a buyer's agent works for a home buyer. Keep reading to discover five major benefits of hiring a buyer's agent when purchasing a new home.

(1) They Work for You

A buyer's agent works specifically for you as a home buyer and has your best interest in mind. They can help you not only locate a house that suits your needs, budget, and wants, but also assist you through the entire home-buying process. Hiring a buyer's agent provides you with a sense of security in knowing that you have a licensed realtor to work on your behalf.

(2) No Additional Expense

One of the great perks of hiring a buyer's real estate agent is that it probably won't cost you a penny for their services. This is because the commission for a buyer's agent and a seller's agent is typically paid for by the home seller and is split evenly between the two parties. For example, on the sale of a $300,000 home with a 6 percent commission, the buyer's agent would receive 3 percent, or $9000, and the seller's agent would receive the same amount.

(3) Assist with Negotiations

Because a buyer's agent is a licensed, professional realtor, they are extremely familiar with real estate negotiations. Their bargaining expertise can be invaluable to you as a buyer. For instance, a buyer's agent can assist and guide you with negotiations involving home inspection repair requests and the selling price of a home. They can also help you negotiate additional items to remain in a home, such as existing furniture or major appliances.

(4) Communication Liaison with Seller's Agent

When you have a buyer's agent working for you, it relieves you of the responsibility of communicating directly to the seller's agent. They work for you as a liaison between you and the seller's realtor. A buyer's agent communicates with a seller's realtor about items such as, houses that you would like to tour, home negotiations that you initiate, updates on your home loan status, and other relevant information in your home purchasing process.

(5) Resource of Valuable Information

Hiring a buyer's agent to work on your behalf automatically provides you with access to a professional resource of valuable home-related information. For example, they can serve as a resource for names of local home inspectors, mortgage lending institutions, and moving companies. A buyer's agent can also provide you with information about specific neighborhoods and homeowner's associations, the current market value of recently sold homes, and current real estate trends.

It makes a lot of sense to hire a buyer's agent to represent you and work for your best interest when purchasing a home. Not only can they help you search for a new home, but they can also assist you with home-buying legalities, negotiations, questions, and communications with a seller's agent. Also, as you just read, the commission for a buyer's agent is typically paid by the home seller. It's good to know that a licensed real estate expert is working on your behalf when you hire a buyer's agent.  

Janis Peterson, Realtor®, GRI, ABR, SRES, CSP, is an  Accredited Buyer Representative (ABR); she specializes in homes and real estate in Montgomery, Delaware, and Chester County, PA, Pennsylvania, and has been offering exceptional service helping Main Line Buyers and Sellers since 1994.

Janis Peterson, REALTOR®, GRI, ABR, SRES, CSP 
Long and Foster Real Estate, Inc. 
355 Lancaster Ave. Suite 100 
Haverford, PA 19041 
Direct: 610-642-3744 
www.mainlinehomes.com
www.mainlinehomes.com/blog/
Janis@mainlinehomes.com

Posted in Buying A Home
April 15, 2021

3 Big Buying Mistakes to Avoid in a Home Bidding War

3 Big Buying Mistakes to Avoid in A Home Bidding War Philadelphia Main Line Homes Montgomery Delaware Chester County PA Pennsylvania

3 Big Buying Mistakes to Avoid in A Home Bidding War

In real estate markets where homebuyer demand exceeds the supply of homes available for sale, it's common for houses on the market to receive multiple purchase offers. And when home sellers have offers from more than one buyer, a bidding war often ensues.

It's not as violent as it sounds. The "war" simply consists of counteroffers made by the competing buyers. It can go back-and-forth, with each buyer trying to out-do the other until someone entices the seller with the winning offer.

Such a scenario is great for the seller, who usually gets a price above what they were asking, but it can be expensive for homebuyers. Sometimes, submitting the "winning" bid doesn't make total financial sense. Here are three big buying mistakes to avoid in a home bidding war.

Not making your best offer first

You might think it's gamesmanship or a strategy to save money, but in a multiple-bid situation, it almost always makes sense to make your best offer early on. Even though "bidding war" makes it sound as though you're fighting other buyers, you're really just trying to make the right impression on one seller.

Especially in a hot market, an initial offer below the asking price could offend the seller. A lowball offer can change the way the seller sees you, which could hurt you later even if you make a higher offer.

If you really love a home, why risk losing out on it when you're willing to pay more from the beginning?

Extending yourself too far

Most buyers begin their home search armed with a pre-approval letter from a mortgage lender. This gives them an idea of just how big a home loan they can afford. But what the bank says you can afford and what you truly can afford might be two different things.

If you make an offer at the very top of your budget, you must know that you truly can swing the monthly payment. Your lender is determining that top-end by using a mathematical formula, not by truly examining your spending habits. If your housing expense is going to increase by, say, $1,000 each month, only you can honestly answer whether you can afford it without stressing about it every month.

Keep in mind, too, that if you spend your entire life savings on a down payment, it could leave you house-poor. You might not have cash left to furnish or improve the home the way you'd like, and you might find yourself without any sort of rainy-day fund, which protects you against other large unexpected expenses.

Waiving the wrong contingencies

If you find yourself in a bidding war, you might be tempted to make your offer more attractive by waiving one or more of the typical contingencies in a home sale contract. Keep in mind, though, that those contingencies are meant to protect buyers.

If you're making an all-cash offer, it's reasonable to waive the financing and appraisal contingencies. But if you're taking out a loan, waiving those contingencies can be costly. You could wind up on the legal hook for a home you can't get financing for, or you might have to bring more cash to the table because the property doesn't appraise high enough for the lender.

You also might be tempted to waive the home inspection contingency, which could wind up being a huge mistake. Unless the seller provides inspection results ahead of time, passing up on an inspection could mean taking on a house that needs a new roof, has damage to the foundation or has a pest infestation. Those are all major problems.

The bottom line

Multiple-offer situations are common in many real estate markets. If you find yourself in one as a homebuyer, avoiding a few key mistakes might help you avoid expenses - and regret - down the road.

In many parts of the country, homes are currently selling quickly and above asking prices; you will need an experienced Realtor® who can guide and help you make a competitive offer. Janis Peterson, Realtor®, GRI, ABR, SRES, CSP specializes in Philadelphia Main Line real estate and homes for sale, including Montgomery County, Delaware County, and Chester County, PA, Pennsylvania, and has been helping Philadelphia Main Line Buyers and Sellers since 1994.

Janis Peterson, REALTOR®, GRI, ABR, SRES, CSP 
Long and Foster Real Estate, Inc. 
355 Lancaster Ave. Suite 100 
Haverford, PA 19041 
Direct: 610-642-3744 
Fax: 610-658-0267
www.mainlinehomes.com
www.mainlinehomes.com/blog/
Janis@mainlinehomes.com

Posted in Buying A Home