main line: Reverse Mortgages: Be Aware
- 10/08/09 09:51 AM
Reverse Mortgages are very appealing to older home owners on Philadelphia’s Main Line as well as in other areas of the United States during these hard economic times. A reverse mortgage is basically when a lender gives you a cash advance on the equity you have in your home. You don’t have to pay back the advance until you either sell the home or die. However, there are several things you should be aware of before getting a reverse mortgage, such as: 1. How much money will you actually be able to borrow? There is a maximum home value which was … (2 comments)
main line: How You Can Improve your Credit Score
- 09/14/09 10:29 AM
Money magazine had a great article on credit in its September issue. Many people on the Main Line, who are interested in real estate, ask me if it is hard to get a loan these days and the answer is “no” if you have a good credit score. What is a good credit score and how can you keep it high? FICO is the most used credit rating system. The top score is 850 and the lowest is 300. “You need a 750 or better today to have the same treatment you got with a 700 two years ago,” says John … (2 comments)
main line: Buyers Beware of Purchasing New Construction
- 04/22/09 12:18 PM
Although there are not a lot of new construction subdivisions on the Main Line, buyers need to be aware of some of the potential hazards of purchasing new construction and some of the precautions they need to take. Homebuilders have been hit hard by this economy and many are filing for bankruptcy. If a builder goes bankrupt, buyers could lose their deposit monies, liens could be placed on homes just completed and purchased, builders would no longer be able to uphold their warranties, houses, clubhouses, pools, and/or parks could be left uncompleted and neglected. What should a buyer do if they … (4 comments)
main line: How a Foreclosure on the Main Line Can Affect the Community
- 03/15/09 12:21 PM
There are not a lot of real estate foreclosures here on the Main Line. According to the Philadelphia Inquirer, Philadelphia and the eight surrounding counties placed number 77 out of 100 metro areas nationwide in the number of people filing for foreclosures in 2008. However, I am starting to see more foreclosures on the Main Line and it is worrisome and it affects the whole community. There is a home four houses down from mine on the Main Line that went through foreclosure. It once was a beautiful home surrounded by a picket fence with perennials planted next to the road. … (1 comments)
main line: How the $8000 First Time Home Buyers Tax Credit can Help You Purchase a House Now
- 03/05/09 02:57 AM
Many people who have never been able to purchase a home on the Main Line would love to take advantage of the new 2009 $8000 tax credit, but they don’t have enough money for a down payment or to cover the closing costs. If you are a first time home buyer and you need your 2009 $8000 tax credit to help you purchase a home, there is a way to receive your tax credit early. First time home buyers who would qualify for the tax credit are allowed to lower their income tax withholdings up to the amount of the tax … (0 comments)
main line: First Time Home Buyers $8000 Tax Credit Explained
- 02/22/09 05:59 AM
Currently it’s a great time to be a first time homebuyer on the Main Line, or any where in the United States for that matter. The main reason being the new first time homebuyers $8000 tax credit that is retroactive to January 1, 2009 and lasts until November 30, 2009. How does the $8000 tax credit work? Basically, if you purchase your first home within the time period mentioned above, when you file your taxes next year you will receive a refund check for $8,000 if you do not owe any taxes. If you owe $3000 in taxes then you will … (45 comments)
main line: The Basics of Buying at Real Estate Auctions on the Main Line
- 02/21/09 10:49 AM
I was watching the Today Show recently and their real estate expert, Barbara Corcoran, had a segment about foreclosures and auctions. While the real estate market on the Main Line has not been hit as hard as other areas, there are still foreclosure properties on the Main Line for sale. Radnor, St. Davids, Wayne, Devon, Berwyn, Bryn Mawr, Ardmore, and Haverford are all great areas to buy in on the Main Line because of their great school districts and proximity to Philadelphia. If you are currently looking to buy foreclosures at auctions, here are three really good websites to help you … (2 comments)
Even though the Main Line is an affluent area, the current economic hard times have caused home sales to decrease. Homes are taking longer to sell and home owners are facing stiff competition for buyers. So, why not use every marketing tool available to get a home sold faster? In real estate as in other industries, time equals money. The longer a home stays on the market the more money it costs the home owner and realtor. In my opinion, home staging is an underused marketing tool. According to the International Association of Home Stagers, staging a home … (1 comments)
main line: First Time Home Buyers: Isn't it Time to Buy a House on the Main Line?
- 11/05/08 03:38 AM
For first time home buyers now is the perfect time to purchase a home on the Main Line. Currently the Main Line real estate market has a large supply of homes and few buyers; therefore the likelihood that you will be competing with another buyer for the same house is slim. In addition, you can get a lot more house for your money than you could a couple of years ago due to low interest rates. Combine these all together and you have the perfect first time home buyers' market. Besides the purchase price of the house, few things affect … (1 comments)
main line: Main Line Real Estate: The Truth about the Housing Market
- 10/24/08 03:19 AM
The housing market has been constantly in the news this past year with the media reporting on decreasing property values and increasing foreclosures. Unfortunately most of the information on the housing market reflects what is occurring in Florida, California, Arizona, Nevada, and Michigan some of the hardest hit states. What the media neglects to mention is that real estate is extremely localized. The values and prices of homes for sale vary from state to state, school district to school district, and town to town. Since I live and work as a Realtor on the Main Line, I decided to examine the … (3 comments)
Reverse Mortgages are very appealing to older home owners on Philadelphia’s Main Line as well as in other areas of the United States during these hard economic times. A reverse mortgage is basically when a lender gives you a cash advance on the equity you have in your home. You don’t have to pay back the advance until you either sell the home or die. However, there are several things you should be aware of before getting a reverse mortgage, such as:;)
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