Tips For Selecting A Real Estate Professional.

Chip Plumley

Prudential Fox & Roach REALTORS^®

Technology has changed the way consumers do business. The real estate industry is no exception. In fact, more than 80% of homebuyers use the Internet during their property search. However, most agree that when it comes to buying or selling a home, a transaction of this magnitude requires the guidance of a professional. In the same study, 90 percent of buyers and 87 percent of sellers use a real estate professional during the process.

Whether you're buying or selling a home, you'll want to interview two or three real estate professionals. To locate a pool of potential candidates:

•· Ask family, friends, and business associates for referrals.

•· Attend open houses. If the sales professional or broker impresses you, ask for a business card.

•· Drive through neighborhoods that interest you and look for yard signs to see what company handles most of the sales.

•· When referred to a company rather than an individual, call and ask to speak with the "sales professional on duty."

•· Search local newspapers and real estate publications.

•· Call the local Prudential Real Estate Network member office for a referral to an office in another town.

Now you're ready for the interview. Whether you're buying or selling, the sales professional should explain the entire process up front. Sellers can use the "listing presentation" to compare sales professionals on their preparation and professionalism. Ask questions that will display the sales professional's experience, knowledge and motivation to help you. Questions such as:

•· Do you work full time or part time?

•· How long have you been selling homes in this area?

•· Are you familiar with the areas I'm considering?

•· What type of homes do you usually handle?

•· What percentage of your business comes from referrals and repeat clients?

•· How many sales have you closed?

•· How many homes did you sell last year?

•· What percentage of your listings sold during the listing period?

•· Did they sell close to the asking price?

•· On average, how many days does a home stay on the market?

•· Will you guide me as I prepare the house to be shown?

•· Will I receive a copy of the marketing plan?

•· How will you advertise our home? In what publications and when will ads run?

•· Will you employ an Internet marketing program?

•· Will you hold open houses? How will you advertise an open house?

•· What other ways will you else to get the word out?

•· How often can I expect to be updated, even if there's nothing to report?

A word to sellers: Don't base your selection solely on selling price or commission. It's probably best to avoid working with someone who promises you the moon-in this case, an unrealistically high price-then has to make price reductions until the property sells. Instead, focus on marketing plans, service and past results. Also, don't be persuaded by low commissions. A seller could actually net more than with a discount broker when a winning marketing plan combined with proper pricing results in a faster sale and at a better price.

Aim to select someone who is knowledgeable and with whom you feel comfortable. It almost ensures a productive and mutually rewarding relationship.

Chip Plumley can be reached at (610) 444-9090 or (610) 357-8635. Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

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The ABC’s of Closing Costs.

Chip Plumley

Prudential Fox & Roach REALTORS^®

You've found your dream home, the seller has accepted your offer, your loan has been approved and you're eager to move into your new home. But before you get the key, there's one more step-the closing.

Also called the settlement, the closing is the process of passing ownership of property from seller to buyer. And it can be bewildering. As a buyer, you will sign what seems like endless piles of documents and will have to present a sizeable check for the down payment and various closing costs. It's the fees associated with the closing that many times remains a mystery to many buyers who may simply hand over thousands of dollars without really knowing what they are paying for.

As a responsible buyer, you should be familiar with these costs that are both mortgage-related and government imposed. Although many of the fees may vary by locality, here are some common fees:

•· Appraisal Fee: This fee pays for the appraisal of the property. You may already have paid this fee at the beginning of your loan application process.

•· Credit Report Fee: This fee covers the cost of the credit report requested by the lender. This too may already have been paid when you applied for your loan.

•· Loan Origination Fee: This fee covers the lender's loan-processing costs. The fee is typically one percent of the total mortgage.

•· Loan Discount: You will pay this one-time charge if you have chosen to pay points to lower your interest rate. Each point you purchase equals one percent of the total loan.

•· Title Insurance Fees: These fees generally include costs for the title search, title examination, title insurance, document preparation and other miscellaneous title fees.

•· PMI Premium: If you buy a home with a low down payment, a lender usually requires that you pay a fee for mortgage insurance. This fee protects the lender against loss due to foreclosure. Once a new owner has 20 percent equity in their home, however, he or she can normally apply to eliminate this insurance.

•· Prepaid Interest Fee: This fee covers the interest payment from the date you purchases the home to the date of your first mortgage payment. Generally, if you buy a home early in the month, the prepaid interest fee will be substantially higher than if you buy it towards the end of the month.

•· Escrow Accounts: In locations where escrow accounts are common, a mortgage lender will usually start an account that holds funds for future annual property taxes and home insurance. At least one year advance plus two months worth of homeowner's insurance premium will be collected. In addition, taxes equal approximately to two months in excess of the number of months that have elapsed in the year are paid at closing. (If 6 months have passed, 8 months of taxes will be collected.)

•· Recording Fees and Transfer Taxes: This expense is charged by most states for recording the purchase documents and transferring ownership of the property.

Make sure you consult a real estate professional in your area to find out which fees-and how much-you will be expected to pay during the closing of you prospective home. Keep in mind that you can negotiate these costs with the seller during the offering stage. In some instances, the seller might even agree to pay all of the settlement costs.

Chip Plumley can be reached at (610) 444-9090 or (610) 357-8635. Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

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Think Spring, Think Maintenance.

Chip Plumley

Prudential Fox & Roach REALTORS^®

Spring is a season of renewal. Birds are singing and the flowers are beginning to burst into bloom. The days are getting longer and people are getting outdoors again. So not surprisingly, real estate activity begins to swing into high gear. The weather is more cooperative and families are looking to move during the summer break.

If you are considering putting your home on the market, now's a good time to do some spring maintenance to make sure your home is in tip-top shape. Even if you aren't planning to sell your home, you should still add these chores to your list to help preserve your home's value and help avoid major repairs later on.

Walk Around the Outside

Check for any damage caused by winter's cold weather. Look for those sagging or loose gutters, window frames or siding. Is your roof missing any shingles, or is there any water damage under the eaves? Promptly schedule repairs for those items you can't do yourself.

Over the fall and winter, leaves, mud and debris may have accumulated in your gutters. Check your gutters for clogging and damage and schedule an appointment for cleaning.

Walk around your yard as if you were a first-time visitor. What impression does your home make? Be sure to clear away fallen branches and leaves. Loosen the soil around perennials, plant annuals or a vegetable garden. Prune shrubs and trees.

If your water supply has been off for the winter, turn it back on. Test your automatic sprinkler system or connect your water hose and check for cracks and leaks. Replace old washers or sprinkler heads.

Don't forget the backyard! Is it time to condition your deck? Be sure to hammer in any loose nails, or replace them with galvanized deck screws. Replace any broken boards or rails. Consider renting a power washer to clean dirt and mildew from the wood, and then apply an all-weather sealer or stain. Then dust off that patio furniture you kept protected over the winter.

Repair any broken fence boards and paint or seal them as needed. Clean the pool if it has been covered all winter. Wash windows, screens and windowsills; repair any winter damage.

Take A Tour Inside

Start making a list of things to do in each room. Then dive in. Dust walls and ceilings to remove cobwebs and wash any grimy areas. Wash window curtains or remove drapes for dry cleaning. Deep clean rugs and carpets. Dust and polish wood or laminate floors.

Clean fan blades using mild soapy water. Check the central air-conditioning unit for debris and obstructions; vacuum the main condenser coil on top of the unit. Check the operating condition of window air-conditioning units; remove and wash filters in mild soapy water.

Make sure all exhaust fans and vents are clean and clear. Don't forget to remove the lint buildup from the clothes dryer vent.

One often-overlooked area is the fireplace. Be sure to sweep ashes carefully into your fireplace's ash pit or into a dustpan. Clean and lightly oil fireplace tools. Remember it's springtime, so you may want to decorate the fireplace or wood stove with a large silk flower arrangement.

Look around for clutter. Are there items you don't use any longer? If you are planning on moving, what items will you not need? Consider having a garage sale and then either donate or trash the remaining items.

And lastly, don't forget to replace batteries in smoke and carbon monoxide detectors. A good time to change them is when you change your clock for daylight savings.

Although performing these spring chores may be dreaded task, they go a long way in maintaining and even enhancing the attractiveness and quality your home.

Chip Plumley can be reached at (610) 444-9090 or (610) 357-8635. Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

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Attract Buyers with a Home That Has Eye Appeal.

Chip Plumley

Prudential Fox & Roach REALTORS^®

The housing market has become much more competitive. Many communities are beginning to see homes remain longer on the market and the bargaining pendulum swing in favor of the buyer. This is called a buyer's market, as the number of available homes outnumbers the buyers. As a seller, your challenge is to turn a buyer's market to your advantage.

The right price is vital, because overpricing your home can cause you to eliminate potential buyers and lengthen the time that your home stays on the market. But equally important is making sure that you give your home a competitive edge by giving it creative eye appeal.

Many homeowners make the mistake believing they are selling "their home," but once on the market your home is actually a product. You need to create an environment the buyer can't resist. In other words, do everything you can to make the home so attractive, charming, cozy, inviting, comfortable and exciting that a buyer will want to buy that lifestyle for himself.

This can be accomplished by making just a few improvements in your home's presentation. Here are some guidelines to make your property distinctive and memorable.

1. Eliminate clutter. Have you ever noticed how model homes are perfect with no mess, clutter, or mass of personal belongings heaped about? There should only be a few exquisite and well-placed accessories on tables, desks, chests, etc. Also, clear kitchen and bathroom counters and furniture of everything except decorative accessories. Put the personal things--cosmetics, toiletries, clothes, bills, papers, and homework-out of sight. Tuck wastebaskets under counters or inside cabinets. Clutter and personal belongings detract from the important features of the home.

2. Create a color theme. If you embark on any investment decorating, like painting, wallpaper, draperies or new furniture purchases, create a color theme that's consistent. Wall-to-wall carpeting should be the same throughout the house. Neutral colors are best to please all tastes.

3. Rearrange the furniture. Just the slightest readjustments can make a big difference. Pull the furniture from against the walls to create a more intimate setting. Move furniture from one room to another. That extra armchair in the living room may create a cozy sitting area in the guest bedroom.

4. Create custom spaces. Luxury master bathrooms, decorator kitchens, built-in cabinets, computer workstations, exercise rooms, and children's play areas are the kinds of features that generate sales appeal. Even if you don't have these specific custom spaces, you can fashion them or suggest the potential for creating them. Accessories, mirrors, plants and fluffy new towels can generate a feeling of luxury even in a plain-Jane bathroom. Turn an extra bedroom into an exercise room if you've got the equipment, or a loft space into a child's play area or hobby center.

5. Keep it clean and pristine. Dust, vacuum, mop and polish on a regular basis. You're not selling the furniture, but a high shine on wood furniture and floors can make a room sing. Touch up nicks on walls and make sure the porcelain sinks and tubs and metallic fixtures shine. Windows should sparkle. Keep yards and landscaping neat and attractive. Add color spots of flowers to perk up entryways and yards.

6. Consult with a professional. There are decorator professionals trained to "stage" a home for sale. They are able to offer an objective view of what buyers are looking for in your competitive market. Depending upon location, neighborhood, demographics and price range, the special touches that turn on buyers may range from splashy master bathrooms and gourmet kitchens to children's play areas or home offices.

You don't have to spend a great deal of money to give your property the competitive edge. Just try to imagine the kind of lifestyle your target buyer would enjoy, and use a few decorative touch-ups to create it.

Chip Plumley can be reached at (610) 444-9090 or (610) 357-8635. Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.

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