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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

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. Contact us today for a home valuation and comparative market analysis (CMA), to determine the value of 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 
Fax: 610-658-0267
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.

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 
Fax: 610-658-0267
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
www.mainlinehomes.com
www.mainlinehomes.com/blog/
Janis@mainlinehomes.com
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, 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. 

If you're thinking of selling your home, give Janis a call at 610-947-4785 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 
Fax: 610-658-0267
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 
Fax: 610-658-0267
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
April 1, 2021

Tips to Get the House You Want in A Market Where Homes are Selling Quickly

Tips to Get the Home You Want In a Market Where Houses Are Selling Quickly Philadelphia Main Line Homes for Sale.png

Tips To Get The House You Want in A Market Where Homes Are Selling Quickly

In a many parts of the country, homes are currently selling quickly, often at or above the asking price. Part of this has to do with the very low home loan interest rates that have been available, low inventory of homes for sale, and more buyers than sellers, resulting in a “seller’s” market. As a result, you might find that you put in an offer on a home just to find out that the seller already accepted someone else's offer. If you've been having difficulties landing the homes that you've wanted, learn more about some ways that you can get a better shot at the houses you want to buy.

Put in An Offer Right Away

One of the biggest mistakes that you can make in a market where houses are selling quickly is to wait a day or two to think about it. Sure, you want to make sure that you're not rushing into something that's actually a bad deal, but you need to process your decision-making much more quickly. In many areas of the country, houses are being snatched up within a couple of days of being listed, so if you wait to think it through on a house that's in the mid-price range and is likely to be attractive to a lot of homebuyers, you're likely to miss out.

Have Your Finances In Order

In a market where houses are moving more slowly, a seller might be willing to wait for you to apply for the loan, but in a market where houses are moving quickly and they already have a couple of other offers, you're going to need to have a letter stating that you already have a pre-approved loan amount. This will also enable you to determine how much you can afford to spend on purchasing a property.

Get a Good Real Estate Agent

When you're trying to buy in a seller's market, make sure that you do your research on real estate agents before you settle on whom to work with. The best real estate agents will give you a competitive edge because they'll tell you about the newest homes that you might be interested in the quickest, so that you can get your offer in quickly. They'll also be able to give you advice about the price of your offer and all of the details so that your offer is attractive to the seller.

Give Your Best Offer

If houses are selling quickly in your market area, you're not going to be able to cut money off their asking price unless their asking price is genuinely overpriced. So if you see a house that you love, make sure that you give your best offer.

Be Flexible

When the seller has the upper hand, you might have to be more flexible about certain things. For instance, you might decide to be more relaxed about how much you have the home seller fix before you're willing to buy. You certainly shouldn't be nitpicking repairs that will cost a few hundred dollars or less to fix.

If you've been missing out on the houses that you've been putting in offers on, you should use these tips to increase your chances of actually getting the next house that you put in an offer on.

In a tight real estate market, where homes are selling quickly, you need an experienced Realtor® who can guide and help you make your best offer. Janis Peterson, Realtor®, GRI, ABR, SRES, CSP specializes in real estate in Montgomery County, Delaware County, and Chester County, PA, Pennsylvania, and has been 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
March 5, 2021

March Home Maintenance Tasks

March home maintenance tasks philadelphia main line

March Home Maintenance Tasks

It’s hard to believe, but it has now been one year since the Covid-19 pandemic began and changed our world. Yet, March is now here, and with the rising temperatures and longer days, we will soon begin to see the first signs of Spring.

Before the arrival of April showers, it is a good time to get started on some Spring maintenance items, both to shed the winter layers, and to give your home a fresh new start.

·        Groom your lawn. Get ready to mow by picking up debris that may have accumulated on your lawn over the winter, and fill bare spots with grass seed and fertilizer.

·        Clear gutters and downspouts. Prevent damage from Spring rains by clearing out debris. Make sure that water is diverted away from the home, to protect its foundation.

·        Re-seal exterior woodwork. Stain or reseal outdoor structures such as fences, pergolas, railings, and wood decks to keep them in good condition.

·        Schedule air-conditioning service. Make sure your HVAC unit is working and is in good condition, before summer arrives. Schedule service, if needed, and don’t forget to regularly change the filters.

·        Clean carpets and soft furnishings. Have floor carpets cleaned, and send out area rugs for professional cleaning. Launder furniture slipcovers and pillow covers, and clean or install new shower curtains.

·        Test smoke and carbon monoxide detectors. Test smoke and carbon monoxide detectors. Change batteries at least once a year, and replace each unit every 7 to 10 years.

Despite the pandemic of the past year, the real estate market has remained strong, with home values growing at a fast pace. After this year of hefty appreciation, if you’d like to find out what your home is worth, contact me for a complimentary comparative market analysis (CMA).

Whether you are looking to buy, sell, or invest in real estate in 2021, I can help you with all of your Philadelphia Main Line real estate needs. Specializing in Montgomery County, Delaware County, and Chester County, PA Pennsylvania real estate, including Lower Merion TownshipNarberth Borough, Haverford TownshipRadnor TownshipNewtown TownshipEasttown TownshipTredyffrin TownshipWillistown TownshipMarple TownshipMalvern Borough, and all of the Philadelphia Main Line communities in between and beyond!

Thank you.

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

#mainlinehomes.com #realestate #buyingahome #firsttimehomebuyers #homebuying #marchhometasks #home maintenance #pandemic

Feb. 2, 2021

Housing-Related 2020 Taxes Considerations

Housing-Related 2020 Taxes Considerations

It has now been nearly a year since the Covid-19 pandemic began and changed the ways we live, work, and play. Although tax filing deadlines were extended last year due to the pandemic, this year, the deadline will be back to its usual April 15 date. As you prepare your 2020 taxes, here are a few housing-related items to keep in mind.

Home interest deductions

·        Mortgages that closed before Dec. 14, 2017
A married couple filing jointly and single filers can deduct mortgage interest on a combined debt limit of $1 million.

·        Mortgages that closed after Dec. 14, 2017
For both primary residences and second home loans, mortgage interest can be deducted on a combined debt limit of $750,000.

Property tax deductions

Taxpayers who itemize can only deduct up to $10,000 on a combination of state and local property, income and sales taxes. This applies to property taxes on your primary residence, a vacation home and undeveloped land.

Capital gains tax exclusions

Married-joint filers can exclude up to $500,000, and single filers can exclude up to $250,000, when selling their primary home, provided they’ve lived there two of the past five years.

Those are just a few of the housing-related tax laws. You should consult your tax advisor for more information on how these and other tax deductions may apply to you individually.

If you have any real estate-related questions, please feel free to contact me. Whether you are looking to buy, sell, or invest in real estate in 2021, I can help you and  look forward to helping you with your future Philadelphia Main Line real estate needs. Looking to buy a home? Call me – I can help you find your dream home.

*The information contained in this posting is not intended to be and does not constitute financial or investment advice.

Posted in real estate topics