Feng Shui (fǝn shwā) noun: Literally translated means wind water - It is the ancient Chinese practice of positioning objects, such as buildings and furniture, based on a belief that the patterns of yin and yang and the flow of chi (energy) will have positive and negative effects on your life. To create positive Feng Shui in your home, you must allow for a free flow of chi (the energy which permeates the environment - when energy is in disarray, misfortunes rule the day) and have the yin and yang in a perfect cosmic balance.  The yin and yang energies “dance” together continually striving for …

We frequently have buyers asking us about pre-foreclosure homes that they found on the internet.  There are many sites that will give consumers this type of information.  Most of these homes are not listed for sale, but some buyers want to know if they can still see the property with the possibility of buying it. Pre-foreclosure simply means that a homeowner has fallen behind on their mortgage payments.  And while a foreclosure may eventually happen, at the current time, the home is still rightfully owned by the mortgagor (i.e. homeowner).  It does NOT mean that the home is available for sale…

There are many ways to sell a house: listing it with a REALTOR©, for sale by owner, the “We Buy Houses” quick sale businesses, real estate auctions, find a friend or relative willing to buy it ... When it comes to selling, there is no magic pill.  Time and again, no one is going to pay more than market value for your home but you can be sure, many people will gladly take a home off your hands if they can get it for well below market value. As a seller, it is critical to know the true market value for your home so 1) you don’t end up sitting on it forever waiting for it to sell at an …

Everything changes with time and history has a way of repeating itself, the smaller affordable homes of the last few years are giving way to the return of bigger and fancier as homebuyers are feeling more secure with their financial situation and simply worn down from frugal fatigue.  “Green” homes are still hugely popular as plastic and other artificial man-made products are taking a back seat to the more luxurious (and expensive) natural woods and stone.   The world didn’t end in 2012 but there were certainly enough headlines of human tragedies and natural disasters.  A general feel of “…

As the Fiscal Cliff approaches, many reports speculate that reducing or eliminating the home mortgage interest deduction could be part of the deal brokered by Congress.  This would affect millions of homeowners who currently deduct their mortgage interest payments from their income taxes.  The National Association of REALTORS® opposes any change that would harm the housing market.  The mortgage interest deduction is vital to the stability of the American housing market and economy.  Ben Stein discussed this proposal recently on CBS Sunday Morning and referred to the “wisdom” of eliminating …

According to the IRS, if you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be considered taxable income. The Mortgage Debt Relief Act of 2007 was enacted to allow taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a short sale or a foreclosure, qualifies for the relief.  This Act is set to expire at the end of 2012. As home prices spiraled downward and millions of homeowners became underwater on their mortgages (owing …

Most people would NOT want to live in a haunted house but one of the most influential people in the world does exactly that – the President of the United States. We thought it would be fun to share some of the stories about the most famous house in America – The White House and some of the ghosts who reportedly live there. For years, it has been rumored that the White House is haunted. Former presidents, residents, staff members, and visiting heads of state have reported sightings, eerie presences, and unexplained thumps, noises, and chills.  A house which holds so much history and powerful …

Zillow is a great tool for consumers to gauge home prices in their area or for an area that they are considering moving to.  Zillow tracks all the pertinent real estate information regarding listings and sales in the area.  They have complex mathematical models that provide an estimated home value for every single house, known as the Zestimate. However, while Zillow is able to access tax record information (such as age, lot size, square footage, number of bedrooms, bathrooms, size of basement, garage, etc), it has no mathematical way of assessing the condition of a home.  So a 20 year old 4BR…

All kinds of rumors have been swirling about what exactly is the 3.8% tax and how it will affect homeowners. Congress passed this tax in 2010 as part of President Obama’s health insurance and Medicare overhaul and is set to take effect January 1, 2013.  The tax is estimated to bring in $210 billion in revenue over 10 years and is slated to go toward funding the Medicare Trust Fund. Although referred to as a real estate tax, in reality, it is a tax on “unearned” investment income for high earning taxpayers (individuals who have an Adjusted Gross Income (AGI) over $200,000 and couples filing a …

We urge you to contact your state senators and representatives to VOTE YES TO PENNSYLVANIA STATE SB 1495 which is an amendment to the Mechanics’ Lien Law of 1963.  This amendment protects homeowners from having liens placed on their property by subcontractors who have not been paid by the general contractor IF the homeowner has in fact paid the general contractor in full. Introduced by 14 members of the PA State Senate May 31st of this year with bi-partisan support, the Senate referred it to Labor and Industry but now it is back before the Senate for consideration. If it passes the Senate, it…

There are scammers out there who take listing information of legitimate homes for sale and try to dupe potential renters into sending them money in exchange for a rental agreement.  This is becoming a pervasive trend throughout the country and people are falling for it. Vacation rentals are also targeted. The scammers offer ridiculously low rents to attract renters – many of whom have problems trying to find rentals due to poor credit.  The scammers scour the internet for listings to use and copy the photos, listing information, and address.  They will even look up the seller’s name and use …

Maybe you’ve noticed some newly constructed homes sprouting out of the ground in the Lansdale area over the last year and a half and more to be built are on the horizon.  One wonders if this is a sign of the real estate market making a full recovery?  Well, according to the National Association of Home Builders, the numberof metropolitan areas experiencing signs of real estate improvement inSeptember rose from 80 to 99 metro areas. The association feels that this is a slow but steady path of positive growth.   Our community is starting to see home builders increase their supply which may peak…

A home warranty is similar to other warranties that you can purchase on something you buy.  However, a home warranty covers a variety of potential issues in a home.  Most home warranties are good for 1-year and include some deductible ($50-$75) for a service call.  If the serviceman can’t fix the problem, then the warranty will cover replacement of that item.  Policies can be renewed every year if desired. Coverage varies depending upon what level of coverage you purchase.  A basic home warranty will likely include repair or replacement of: › HVAC systems › Ductwork › Plumbing › Whirlpool, …

A point of sale inspection is one that is done when a property is sold.  For the resale of residential property, these are called Use and Occupancy (U&O) inspections and are required by some (but not all) municipalities. Often times, the municipality is looking to see if the there are working smoke detectors, handrails, and GFCI protected outlets.  Other municipalities may be checking the condition of the sidewalks or to ensure storm water is not making it into the public sewer system.  There are some municipalities that treat the U&O inspection almost like a home inspection looking to flag …

A 3rd party negotiator can be invaluable to the success of a short sale.  Good 3rd party negotiators have established relationships with many banks.  They know the in’s and out’s of how to best handle each individual short sale which is unique with respect to the seller’s situation and their bank’s requirements. The process gets even more complex when there are two loans (a first mortgage and a second mortgage) with two different banks. While the seller’s agent may be able to negotiate directly with the bank, a good 3rd party negotiator who specializes in short sales will often produce the …

As some sellers struggle getting their homes sold, many have opted to move on to their next house while still trying to sell their current one.  It is critical to notify your insurance company if a property becomes vacant.  Potential losses and liabilities with a vacant home may not be covered by a standard homeowners’ insurance policy.  Homeowners’ insurance assumes that the owners are living there and vacant homes are generally considered a higher risk and carry a higher insurance premium. Some of the risks of a vacant house include: Higher probability of a break in.  Burglars will watch …

The National Association of Realtors has a planned event today in Washington, D.C. known as the “Rally to Protect the American Dream.” Most people don’t know about the extra efforts many realtors put forth for their industry, livelihood, and most importantly, clients.  Realtors across the country are gathering on Capital Hill to tell members of Congress that home ownership matters to people, to communities and to America. The goal of the rally is to make Congress aware that Realtors are focused on homeownership, housing and real estate issues amidst the election year rhetoric.  The aim is to …

Energy efficient homes don’t end with the structural and interior elements.  One of the most important factors to operating a more energy efficient home is the landscaping around it.  Not to mention that landscaping is more of a long term plan that one day will affect the re-sale value of the home.  It’s a topic we’re familiar with this time of year, as we make our trips (and more trips) to the local home improvement stores looking for that ideal combination of plants, shrubs, trees, and grasses. With the summer months approaching, we’ll soon be looking at cooling costs that air conditioners …

Just like auto mechanics, dentists, plumbers, financial planners, electricians, attorneys, hair dressers, tailors, Realtors ... you name it: home inspectors are human just like any other service provider.  Some are really good, some are not so good, and some are bad.  Luckily word of mouth typically drives the bad service providers out of the marketplace … but not always. There are a few universal truths about homes and home inspections: There is no perfect house. There is nothing that can’t be fixed for a cost. It is the parts of the house that you can’t see that you need to worry about the …

Staging a house for sale comes in many shapes and forms.  But it is always about making your house more visually appealing to homebuyers – highlighting the positives and minimizing the negatives.   While some staging jobs can cost thousands of dollars, many homes can get adequately staged for little or no cost. But the payoff at sale can be huge.  Time and again, a well-staged home will typically sell faster and closer to list price than comparable homes that don’t show as well. Here are some of the key elements of staging: Simply de-clutter, clean and organize.  This is the singular most …