January 19, 2012 -- Realty Times Feature Article by Carla Hill

It may be cold outside, but it's no time hibernate when it comes to home maintenance. Have you ever wondered how some friends or neighbors live in older homes that are still in good working order? This isn't just a lucky coincidence.

Houses require careful attention, especially in the Winter, in order to keep in good working order. If you take the extra time each season to check your home over and perform the necessary maintenance, then you'll be sure to have a sturdy home for years to come.

First, it's important to keep your family safe and warm when it's chilly outside. Do a twice yearly check on your windows and doors for air leaks. Under most circumstances you can easily fix these with caulking.

Are your windows in need of a more energy efficient upgrade? Have you thought about installing storm windows and doors? These are important questions to ask yourself. If you have older, non-insulated windows it may be time to replace them. You can even deduct some of these upgrades from your incomes taxes!

If you find leaks, then take the necessary action to fix them pronto. You may find that some doors continue to leak air even after you've made them "air-tight." This means it is time for Plan B. Storm doors work wonders for keeping out the elements. Many stores also sell draft blockers that sit at the bottom of you doors.

Next, schedule a time to service your heating system. Central heat and air units need to be checked over. When a unit is well-serviced it will save you fuel and thus money.

If your home is older, then you might consider a trip to the attic to check ductwork. You never know what critter has chewed through ducts or what parts have become disconnected.

While you're in the attic take a hard look at the state of your insulation. Is it adequate for your region? Is ductwork well-insulated? Older homes can sometimes be completely devoid of attic insulation. If so then it's time to bring in some reinforcements. Insulation is relatively inexpensive and can save you big in the long run.

Do you heat using a wood burning fireplace? Is it imperative for your safety to have your chimney cleaned and checked multiple times during the Winter season if you use your fireplace regularly. Chimney fires happen all the time.

There are smaller issues to attend to as well. Did you know that your ceiling fans have two settings for the blades? You want to be sure to reverse your fan in the Winter so that it pushes the hot air (which naturally rises) back down into your living spaces.

Gutters become full of leaves and other debris. If you fail to clean your gutters they can begin to hold water which can eventually rot away the siding and roof of your home.

When the weather drops below freezing you need to keep your pipes from freezing. Let faucets drip and unhook all outdoor hoses.

Finally, every responsible homeowner is stocked with the proper tools. Keep sand or salt on hand to de-ice slipper steps and sidewalks. Invest in a heavy duty snow shovel or snow blower.

Your home is your biggest asset and literally keeps a roof over your head. Be kind and take care even during the chilly Winter months.

• Today's Local Market Conditions Report

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KEEP YOUR OUTDOOR LIGHTING AS SAFE AS POSSIBLE:

*Avoid using the large seven-volt light bulbs. Sure, they are bigger and brighter, but they also burn much hotter than the mini Christmas lights.  One of the most common causes of holiday-time house fires results from these bulbs being too close to gutters filled with dried out leaves.

*Make sure that the strings of lights you are using outside have built-in fuses on the lines.  sometimes, these fuses are located in the actual plug. 

*Make sure to use Christmas lights that are designated for outdoor use only. If you use indoor-rated lights, they may not be able to withstand the weather conditions which will cause them to break down much faster.

Have a wonderful safe holiday!

Posted: 22 Nov 2011 04:00 AM PST

Yesterday, we explained that having someone who truly knows the market was crucial if you were planning to buy or sell a home today. This expert should know what is happening in real estate, understand why it is happening and be able to simply and effectively explain each point to you and your family.  Today, we want to discuss the consequences if you don’t have a true industry professional on your side.

 When families enter into a contract to buy or sell a house, two things are true:

1. The buyer wants to own the home.    
2. The seller wants to sell the home.

In order for both these things to take place, the transaction must be completed. That is not an easy task in the current market.  The National Association of Realtors (NAR) released their Existing Homes Sales Report yesterday. In the report, NAR announced that one out of every three contracts to purchase a home in October never made it to a closing table. 

Cancellations have more than quadrupled in the last 14 months!  According to NAR, cancellations are caused by:  

… declined mortgage applications, failures in loan underwriting from appraised values coming in below the negotiated price, or other problems including home inspections and employment losses.”  

 

Bottom Line

No one can guarantee you won’t face challenges. However, the best agents and mortgage professionals know how to manage the expectations of all the parties involved thus dramatically increasing the chances your deal will close and you and your family will be able to move on with your lives. Hire that true professional!! 

 

Click Here for Rayac's MLS Statistics by School District.

Thinking of listing your home? I can show you how this can be a great time to put your home on the market.

Tom Pendergast

717-880-2111

The study shows that the four major reasons a person buys a home have nothing to do with money. The top four reasons, in order, are:

• It means having a good place to raise children and provide them with a good education
• You have a physical structure where you and your family feel safe
• It allows you to have more space for your family
• It gives you control of what you do with your living space (renovations and updates)

When we talk about homeownership today, it seems that the financial aspects always jump to the front of the discussion. There is no doubt that families must justify a home purchase from a financial point of view today. However, the reasons they actually buy are the same reasons our parents and grandparents purchased their home – to create a better lifestyle for their families.

Opportunity Inc. and Supporters(US Congressman Todd R. Platts, State Rep. Eugene Depasquale, Mayor C. Kim Bracey, York City Councilwoman Toni Smith, Lincoln Charter School)  INVITE YOU TO ATTEND:

CHANCE FORECLOSURE INTERVENTION EVENT                              Saturday, November 12,2011.   9:00 am to 3:00 pm                      Sovereign Bank Stadium, 5 Brooks Robinson Way, York PA 17401.                ALL HOMEOWNERS ARE WELCOME TO ATTEND AND RECEIVE HELP NO MATTER WHAT CITY OR COUNTY YOU LIVE IN.

RSVP by calling (717) 650-0513) Rebecca Jackson

What to Bring: *Last 2 yrs of W-2's & Tax Returns,*Last Mortgage Statement, *Most recent pay stubs,*Last 2 Bank statement,*List of Monthly Expenses, *Letter from Lender,*Photo ID/Social Security No.

Housing Prices: Where they will be in the spring?

Many sellers want to wait until the spring before putting their home on the market. This might be for any of several reasons:

 1. They don’t want to be inconvenienced during the holiday season.

 2. They believe that they will see more potential buyers and as a result will get a higher price.

 3. In the northern part of the country, they might not want people walking through the snow and then into their house.

 4. All of the above In a normal real estate market, this may make sense.

 However, this market has been anything but normal. This spring will also see some abnormalities. The biggest difference will be the direction prices will take. In years past, the spring market would favor the seller because increased demand would outpace any increase in supply: the number of houses coming onto the market would not be as great as the number of buyers newly entering the market. In most situations, when demand is greater than supply, prices increase. The reason this spring will be different is that the supply of homes coming to the market will be dramatically impacted by foreclosure properties being released by the banks. Many believe this increase in inventory will far outweigh buyer demand. In situations where supply is greater than demand, prices decrease.

Will This Actually Happen?

 RealtyTrac, in their latest foreclosure report, explained: “U.S. foreclosure activity has been mired down since October of last year, when the robo-signing controversy sparked a flurry of investigations into lender foreclosure procedures and paperwork. While foreclosure activity in September and the third quarter continued to register well below levels from a year ago, there is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly beginning to ramp back up. This will impact prices.

What Do Experts Believe the Impact Will Be?

Here are the pricing projections by several major entities: 1. Zillow believes we will not see a bottom in prices until the first quarter of 2012. 2. Standard & Poors thinks prices will drop %5 in the next few months. 3. JP Morgan Chase believes prices will depreciate 6 to 7% over the next six months. 4. Barclays says prices will fall 7% by the end of the first quarter of 2012.

Bottom Line You may pay a hefty price for the convenience of not having your property on the market right now.

Call today to get your home sold!

 Tom: 717-880-2111 or email tompenderg@gmail.com

 Disclaimer: This blog covers the national housing market as a whole. Please check with a local real estate professional to discover how the following information will impact your region. – The KCM Cre

Click Here for the August 2011 RAYAC Housing Statistics.

Tour the York Builders Parade of Homes Sept 15-18 and 22-25.  Hours for the new homes are as follows: Thursday and Friday 5-8 pm. Saturday and Sunday 10-5pm.  Free Tour. View this fabulous ranch home by custom built specialist Jeffrey L. Henry.  4001 Country Drive, Dover PA.

The buyers we are talking about are young families and adults between the ages of 31 to 45. These buyers are in full course with their careers and are busy with their growing families and don’t have the time or money to update a house. Watchers of HGTV, they also have strong opinions about design features their new home will include. Take a look at some of these items and ask yourself how your home stacks up if you decide to sell.

1) Buyers want a deal! We are in a very price sensitive market and buyers want to know that they are getting the most value for their money. Saying that, Buyers are willing to pay more for homes that are in model home condition but either won’t buy or will discount significantly a home that needs work.

 2) Kitchens and Baths Sell Homes!  We know many Sellers do not like granite counters and stainless steel appliances but at this moment Buyers do! Bathrooms with dated tile should be updated and older vanities, sinks, medicine cabinets, hardware and light fixtures should be replaced.

 3) Paint is an Easy Crowd Pleaser! Buyers want a house with a neutral palette to help them imagine their own decorating plans. Plain white, however, is mostly out and “Pottery Barn” colors are in. Wallpaper no matter how expensive and dear to a Seller must go as well as dated carpet. And, if you have carpet over hardwood floors, show the hardwoods. They are in and most desirable.

 4) Let there be Light! Your brass or crystal Dining Room light fixture is no longer fashionable. Brush nickel and antique bronze are in. And, the overhead light fixtures that you have in your bedrooms and halls for the last 20 years must go. Good news, however, they are relatively cheap to replace.

 5) Energy Efficiency! While most buyers won’t pay substantially more for  green” and “energy efficient” improvements, they do want to know what it will cost to heat and cool the house and they do question whether windows, doors, the furnace, air conditioner, and hot water heater have been replaced.

 6) It’s Clean Up Time!  Buyers want a clean house. Not just a house where the beds are made and toys are put away but a house with clean windows, baseboards, siding, and refrigerators. Clean carpets, bathrooms, kitchens and flooring are essential as well. 

7) Smelly Houses Don’t Sell!  Any pet odors need to be eliminated, cooking food with strong odors (unless it’s bread or cookies) needs to be avoided, and if you are a smoker, your home will need to be de-odorized and you need to smoke outside-no kidding! If you do plan to sell, do not light any scented candles or install plug-ins. Today many Buyers and their families are allergic and will run out of a house no matter what the smell.

8 Oh Give Me Land!  Buyers want a home with a connection between indoor and outdoor spaces. So even if your lot is relatively small, landscape it, deck it, fence it or do whatever is necessary to create a perception of another wonderful living area, even if that area is used only part of the year.

9)Size Matters! Buyers want more storage space as well as flexibility in the garage. If you have a storage room or area, make it look big by straightening it up and getting rid of anything that you haven’t touched in years or that you don’t plan to take with you. If you have a garage, clear it out so that cars can easily fit in. And if you have a carport, the only thing visible should be your car.

 Beauty Counts! Today’s buyers start their search on the Internet and if they are not impressed by the pictures they see, they are not coming in.  You simply don’t get a 2^nd chance to make a 1^st impression. To help you make your first impression GREAT, call The Tom Pendergast Team at 717-880-2111 or 717-757-7811.

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.