Buyers Category

5 Tips for First Time Home Buyers

Philadelphia homes for sale Are You A First Time Home Buyer? Thinking about breaking into the market for the first time?  Are you sick of paying rent?  Are you overwhelmed by the conflicting national news stories? Buying a home for the first time can be emotional, confusing & overwhelming.  It can also be exciting, fun & liberating. 1. Understand the Finances Behind Home Ownership When you think payment think P.I.T.I. which stands for Principal, Interest, Taxes & Insurance.  The best way to understand a full monthly payment is...Continue Reading!

12 Do’s & Don’ts When Getting A Mortgage

Philadelphia homes for sale Getting a Mortgage is Tough These Days... This information was provided to us by Matthew Boyce of Annie Mac Mortgage.  This is a comprehensive list of the problems he has run into over the past decade working as a loan officer.  He created this list to provide to clients & realtors in an effort to simplify the process.  If you really want to simplify the process hire a good lender & a good Realtor to advise you correctly & assist you...Continue Reading!

Time to Buy is Now! Interest Rates are Creeping Up!

Philadelphia homes for sale Interest Rates Jumped to a 7 Month High Last Week After some positive employment news that was released it looks as thought mortgage rates crept up.  According to Freddie Mac the average rate for the 30-year fixed rate loan rose to 3.63% from 3.52% last week. Low interest rates help increase affordability.  Prices are still somewhat stagnant, although they seem to be creeping up a bit due to less supply.  If you were thinking of purchasing a home; now is the time...Continue Reading!

Rent Vs. Buy

Philadelphia homes for sale This Is One of the Most Important Questions Potential Home Owners Ask & We Want to Help Answer! In the wake of the recession many consumers have (or had...according to some of the latest research) lost confidence in the housing market.  It is very important to do local research on your market as real estate is hyper local (as in neighborhood...not even region).  We find that the national media has been very unkind to real estate.  What we have found locally...Continue Reading!

Under Contract. Now What?

Philadelphia homes for sale Congratulations! You have successfully navigated your financial qualifications, found the right home & came to terms on an Agreement of Sale.  Now we just wait for settlement, right?  NO!  We covered steps 1-5 in a previous post.  Here are the final steps to get to closing. Step 6 Conduct Inspections and Negotiate for Repairs or Credit if Needed After the agreement is signed we will schedule any necessary inspections.  Once these are completed we will try to negotiate for any needed repairs &/or...Continue Reading!

More Home Inspection Questions Answered!

Philadelphia homes for sale A Little More In Depth Information About Home Inspections.. Earlier we defined the basics of a home inspection, however, we wanted to go into a little more detail & answer a few of the less common questions we get about the inspection. QUESTION: Who defines the scope of the home inspection? ANSWER: The scope of a home inspection, the services to be performed, and the systems and conditions to be inspected or excluded from inspection may be defined by a contract between the...Continue Reading!

5 Ways to Make Your New House Feel Like a Home

Philadelphia homes for sale Moving is Stressful We have 5 tips that will make your new house feel like a home & cut down on some of the stress of moving. 1. Make It Smell Like Home Bring  a familiar smelling candle.  The olfactory sense is one of our strongest senses & can trigger positive memories.  You'll be spending a lot of time cleaning, organizing & unpacking.  A familiar scent can make it smell like home instantly!  It will also smell like YOUR home; not the previous...Continue Reading!

Overwhelmed by the Buying Process?

Philadelphia homes for sale Hire a Professional to Help! Buying a home can be an overwhelming undertaking.  It is helpful to hire a professional to help guide you through the transaction & streamline the process. What Does a Buyer Agent Do? A buyers agent is a Realtor you hire to represent you.  This means they work with your best interests in mind at all time, negotiate for you, identify properties based on your needs, advise you through the inspection, mortgage process & facilitate the communication between all...Continue Reading!

Home Inspection Questions Answered!

Philadelphia homes for sale The Basics A home inspection contingency is one of many contingencies set forth in a purchase contract.  The time period is completely dependent on negotiations, however, what inspections to be performed are chosen by the buyer.  The financial burden for paying for the inspection is the buyer's responsibility & varies depending on company & which inspections are to be performed.  We recommend all our buyers get a home inspection regardless of the homes condition as it is crucial to uncover any...Continue Reading!

2 Important Changes to FHA Loans

Philadelphia homes for sale Many First Time Home Buyers Use FHA.  Will These Changes Effect You? An FHA Loan is a mortgage insured by the Federal Housing Administration.  It was created to increase home ownership through more flexible guidelines related to credit scores, down payment & savings requirements.  An FHA loan always has a Mortgage Insurance Premium (M.I.P.) that is paid by the borrower. So, what's changing & when? In April the FHA is Raising M.I.P. Premiums This is for any FHA case # assigned on or after...Continue Reading!