To Lock or not to lock? That is the question;

                 To lock or not to lock: that is the question:
                 Whether 'tis buyer in the mind to suffer
                 The high rates and losses of fortune,
                 Or to take ARMs against a sea of risks,
                 And by opposing end them? To buy: to own now;




"It's a good day to get a mortgage rate," wrote Dan Green, author of The Mortgage Reports blog, immediately following Wednesday's Fed announcement.
But was it a good day for the housing market? What did it really say about the health of the recovery? It's like when you were a kid, and you don't have to go school because you are sick. Great! No school! Except you're still sick. That is exactly what the Federal Reserve's message was to the U.S. housing market.
"An insipid victory for housing markets," tweeted economist Sam Chandan. "Fed doesn't believe rebound can be sustained absent artificially low mortgage rates."
Source: cnbc news article

Best Home Improvements: Cost vs. Value

Thinking of sprucing up your home, but want to be sure that you’ll recoup those costs at the settlement table? Read up on The National Association of Realtors’ 2013 Cost vs Value Report!

Two words: Curb Appeal. Hands down the best value of home improvement is through updating the exterior of your home to keep its first impression looking great year-round. The number one cost vs. value on our list is replacing your current front door with a steel door (85.6). Number two is fiber-cement siding replacement (79.3%), and a wood deck addition (77.3%) comes in third. Garage door replacement (75.7%) is fourth. 

Some of the worst home improvements for cost vs value include a home office remodel, a sunroom addition, and a bathroom addition. Why? These are some of priciest add-ons, and they’re hit or miss with potential buyers.

If you’re about to embark on a home improvement project, we would be more than happy to give you a no-obligation individualized evaluation of how it may impact future buyer behavior. Just let us know at volkan.andic@everyhome.com

How to Find Great Tenants or Become One!

Investment properties can be financially rewarding, and having great tenants is one major key to success. Screening potential tenants can be a tedious process, so some landlords prefer to hire a rental property management company. But if you prefer to keep a little more cash in your pocket, check out these guidelines to keep yourself protected:

1. Develop a comprehensive rental application for all of your prospective tenants (psst…you can find some of these online!). Ask about finances, present/past employment, number of occupants, and lifestyle information. Be certain to mention that by submitting an application they are subject to a credit check and background/criminal record check.

2. We recommend that you actually run the credit check and background check for every applicant. It’ll

give you a clearer picture of their finances, as well as any eviction history, criminal history, and public records. While a late payment or two may not signify a poor tenant, be on the lookout for major delinquencies such as bankruptcy or theft.

3. Consider scheduling a phone or in-person interview with the tenant to get a better sense of their lifestyle. Do they work odd hours? Do they expect to have family stay over often? Do they have pets? Are their pets housebroken? Do they smoke? This can give you a better sense of whether or not they’re a match for your property and the neighbors.

Speaking of pets, did you know that a recent Apartments.com survey found that nearly 75% of renters own a pet? That’s a huge market of renters struggling to find appropriate housing for Fido and Garfield. It’s true! Nearly all of the pet owners surveyed said that pet policies played a major role in their decision of where to live. Pet owners are considered to be “responsible and respectful neighbors” for the most part, so consider easing up on your pet policies to allow the greatest market of potential renters.

Which Type of Loan Works Best For You?

If you’re in the beginning stages of your home hunting process, you’ve probably thought about talking to a mortgage lender. After submitting all of the paperwork, your lender will give you an idea of your budget for a mortgage…and what type of mortgage you can qualify for. The most popular mortgages are FHA and Conventional, and they each have their relative pros and cons.

 

5 Strategies for Pricing a Home to Sell

Once you think you know your home’s value and have a price range in mind, you need to decide the final “list” price. 

In real estate, good old trick of "99" strategy is almost always used. It just looks cheaper to the eye. :) There’s a fair amount of psychology — and strategy — that goes into determining a home’s asking price.

Here are five pricing strategies for sellers.

Choosing a Great School District

It’s no secret that choosing the right school district is important to every parent. When faced with a big move, the challenge of picking the perfect place to live can be daunting. Here are a few tips to keep your search on track:

1. Don’t be afraid to ask questions! Call the local elementary/middle/high school and ask to speak with a principal or guidance counselor. Not only will they appreciate your effort to learn about their school, but you’ll likely get a behind-the-scenes tour of the place where your child will be attending. For even more info, ask for the numbers or e-mail addresses of a few PTA members. They’ll be happy to share their experiences with you! Also you can go to open houses that schools hold.

2. Keep your options in mind! We're lucky to have an abundance of private, public, and charter schools in the Greater Philadelphia area. For detailed info about local private schools, check out www.privateschoolreview.com

3.Consider your budget. It’s no surprise that many of the most highly rated schools are in areas with the priciest homes and the highest local taxes. Help narrow down your lists by searching by school district and price on EveryHome's site! We'll even give you detailed info about the taxes you'll be expected to pay.

4.Rankings are a guideline, not a rule book. If you checked out the article I posted yesterday, you may have read up on some of the most highly ranked high schools in our area. While standardized testing scores, class size, and diversity are all undeniably important, remember to keep your gut feeling (and your budget) in check.

What's a Comparative Market Analysis?

	If you’ve sensed that home prices are rising, you’re right. In fact, home prices are rising at the quickest paces since before the housing bust. This is great news if you’ve been thinking of selling! In order to get the best estimate of value on your home, you can ask a real estate professional (that would be me!)  to provide you with a complimentary Comparative Market Analysis.Comparative Market Analyses (CMA’s) take into account a variety of factors that affect your home’s value. The biggest variables are location, size, and condition…but there are a lot of other things that affect the value, too!