Five Tips to Create a Home Wish List That Works

Coldwell Banker Realty Corp. Associates explains how to identify the “must-haves” vs. “nice-to-Haves” for a first home!

Lansdale, PA — When dreaming of a first home the options are endless. From a backyard oasis with a patio and swimming pool, to a gourmet kitchen with the most up-to-date appliances, plenty of space to entertain friends or a gorgeous master bedroom suite, no first time home buyers wish list is the same. However, in reality, it is not always possible to find a first home with everything, so buyers must decide in advance what items are “must-haves” and “nice-to-haves” on a first home wish list.

To help first-time home buyers, the professionals at Coldwell Banker Realty Corp. Associates have provided the following five tips to help determine what they will need vs. what is nice to have in a first home.

 

1. Know your budget: The first step to creating a list of “must-haves” is to be realistic about what is affordable and determine a budget. Buyers should enlist a local real estate agent to help with the home search. An agent with years of expertise understands the local market and can help buyers find comparable home prices and determine what is affordable in their budget.
2. Find that perfect “location, location, location”: Everyone has heard this phrase before when it comes to real estate, and while the surrounding neighborhood and home itself may improve over time, the physical location will remain the same. Buyers should determine in advance how close they would like to live to their work, schools or extended family. A short commute to work, proximity to family or having easy access to highways and mass transit are often “must-haves.” The location will also determine some home amenities that are possible or difficult to have within the buyer’s budget. For example, if a buyer has to live close to work in a big city, they may have to cross a garage or outdoor space from their wish list.
3. Determine non-negotiable accommodations: A comfortable place for everyone in the family is always a “must have.” For a family of four, three bedrooms may be non-negotiable. For a family with grandparents living at home, an extra bedroom on the first floor may also be non-negotiable. After determining the budget and neighborhood, the most important factor is that everyone living in the home has a comfortable place to stay.
4. Pick a lifestyle fit: After fulfilling the most important needs, buyers should find out what features of a home will best fit their lifestyle. For example, buyers who love to cook and entertain may want a home with a gourmet kitchen and decide to give up the large master bedroom. Or, buyers who love to spend time outdoors may compromise a large family room for a big backyard.
5. Have a vision: When looking at a first home, buyers should avoid getting distracted by decorations, paint or flooring that may not fit their taste. Items such as paint color or carpeting are easy to fix and always worth compromising on. If everything else about a home fits the wish list, a new coat of paint and a little redecorating are easy finishing touches on a dream home.

Horsham & West Norriton in Montgomery County named best places to live

Coldwell Banker Realty Corp. Associates services two of the best places to live in the United States! CNN’s Money Magazine recently announced the Best Places to Live in 2011, which lists 100 of the most  desirable communities in the United States. Horsham, PA and West Norriton, PA, both located near our office in Montgomery County, were ranked #31 and #59, respectively.

Click here to check out CNN Money’s “Best Places to Live 2011!”

1157 Scobee Drive, Lansdale – Reduced to $460,000

The price has just been reduced on the gorgeous home located at 1157 Scobee Drive in Lansdale, PA, 19446, Montgomery County, in the North Penn School District. Originally listed for $475,000, take another look at this home packed with amenities for only $460,000!

Click here to take a virtual tour of the property and to learn more about its features (in-ground pool, remodeled basement and more!).

Inexpensive Updates to Complete Before Listing Your Home

From RISMedia:

5 Inexpensive Home Updates to Complete before Listing Your Home

By Lisa Johnson Sevajian

RISMEDIA, August 11, 2011—There is no perfect formula for selling your home efficiently, but by following these five tips prior to listing you can increase your chances to close quickly at a higher price.

Click here to read the full article!

Add over $36,000 of value to your home!

There are many large and small scale projects that can add value to your home. Adding a sunroom addition, has the potential to add over $36,000 of value to your home. The project cost is high, with the national average standing at $75,200, but it can be a successful short and long term investment. This article from Houselogic discusses how to evaluate your home for a sunroom addition:

July 2011 Market Statistics

It’s always good to know what’s happening in your local real estate market, that’s why Coldwell Banker Realty Corp. Associates provides monthly market statistics for the greater Philadelphia region! These market statistics are based on data gathered and distributed by TReND MLS.

The statistics compare several aspects of the local real estate industry, including the number of single family settled units, median and average settled prices, total settled volume and the number of settled condo units. The July 2011 report examines trends between 2009, 2010 and 2011.

To view the July 2011 real estate market statistics for Montgomery County, Delaware County, Chester County, Bucks County and Philadelphia County, visit http://cbrca.com/market_stats.html.

Open House this Sunday in Lansdale, PA (Montgomery County)

Sharon Dysart of CBRCA will be holding an open house, this Sunday, from 1 PM to 3 PM at 211A South Line Street, Lansdale, PA 19446. 4 bedroom/1 bath, $224,000.

This Montgomery County home is in the North Penn School District. It is within walking distance to the Pennbrooke train station, Memorial Park and downtown Lansdale. Great flat backyard that can be seen from the kitchen window. The electrical panel has been updated to circuit breakers, the heating system is only 6 years old and the roof is approximately 10 years old. Click here for a full listing report!

Should you MOVE or IMPROVE?

article courtesy of houselogic

By: Oliver Marks

Published: August 28, 2009

If your house has curb appeal, a good kitchen, and the right price, offers will come.

What do you do when your family outgrows your house, or when the quirks you once found charming about the place just aren’t livable anymore? A few years ago, the answers were easy. With house values climbing an average of 50% from 2001 to 2005 and lenders handing out big checks to nearly anyone who asked, you could quickly unload a too-small house and use the profits to help pay for a larger one. Or you could borrow against that growing equity to fund a big home-improvement project, with the full expectation of making your investment back someday when you sold. Flash forward a few years, and the rules of real estate have changed.

In this marketplace, with home equity shrinking and banks reluctant to lend, is it smarter to move or improve? Here’s some advice to help you decide.

Moving has gotten harder

With median housing prices down 25% since their peak in 2006, some 15 million homeowners—almost one in four—owe more on their mortgages than they could get from a buyer, according to Celia Chen, senior director of Moody’s Economy.com. And even folks who bought before the big run-up and can afford to sell at today’s lower prices still face steep odds trying to unload their homes with the glut of inventory on the market (36% more lawns wear For Sale signs now than a few years ago).

There was an uptick in units sold in early 2009, leading some economists to predict that the market has begun to rebound, but selling a house is likely going to remain difficult for a while.

Still, there can be an advantage to trading up now: If your house has curb appeal and a good kitchen—and you price it right—offers will come. You may not turn a big profit, but once you sell, you become a buyer in this buyer’s market. That means you’ll find what you’re looking for and pay less for it than a few years ago.

To analyze your trade-up options, check local listings to ballpark the price you could realistically get for your home and what you’d have to pay for the next place. Then contact a bank to see if, based on those figures and your financial situation, you’re likely to qualify for the new mortgage. Or do your research online: Investigate home values at online real estate sites and how much of a mortgage you’d qualify for at bankrate.com.

Improving has gotten easier

The economic slump has actually made renovating the home you already own a bit easier. The construction-industry slowdown has lowered the cost of some building materials: Plywood is down 46%, for example, framing lumber is down 42%, and drywall is down 25%, according to Bernard Markstein, senior economist for the National Association of Home Builders. Many contractors are also charging less for labor, to compete for the smaller pool of available jobs. What’s more, you won’t have to wait months for a contractor to show up—chances are he’ll be able to start in a matter of days.

Of course, you’ll still need to come up with cash to pay for the project. And the news is good there, too: As a general rule, improving costs less than trading up. Figure somewhere between $100 and $200 per square foot for new construction or a major remodel, depending on the scope of the project and labor costs in your area. (For help with budgeting and financing, see “Budgeting for a Remodel”) A two-story addition with a family room, bedroom, and bathroom costs an average of $165,200, according to Remodeling Magazine’s 2010-11 Cost vs. Value Report.

Now more than ever, though, you need to make sure that you invest your money wisely. In other words, will your $75,000 kitchen remodel increase your home value by $75,000—or by anything close? For guidelines, check out the Cost vs. Value Report, which gives national average cost and payback figures for 35 popular remodeling projects.

To assess what’s right for your particular house, let your neighborhood be your guide. If there’s any chance that you’ll move within the next 10 years (and in this economy, who can be sure?) keep your improvements in line with those of other houses on your block, or you risk losing the money when you sell.

The most important considerations haven’t changed

Your house isn’t just your largest investment, of course, it’s also the place where your family lives. Financial considerations aside, the question of whether to move or improve should be decided by the things you cannot change about your current home: the school district, the amount of traffic on your street, the size and layout of your yard, your commute, the ease of access to markets and malls, and your neighborhood quality of life. If you love the spot, improving makes sense. But if a different location would be an improvement in its own right, then trading up could be the way to go.

A former carpenter and newspaper reporter, Oliver Marks has been writing about home improvements for 16 years. He’s currently restoring his second fixer-upper with a mix of big hired projects and small do-it-himself jobs.

Read more: http://www.houselogic.com/articles/should-you-move-or-improve/#ixzz1UeM4R900

Coldwellbanker.com revamps properties section

COLDWELLBANKER.COM Revamps Properties Section in Response to Growing Number of Visitors Conducting Non-traditional Searches

Parsippany, N.J. (July 28, 2011) – Coldwell Banker Real Estate LLC today announced a relaunch of the Properties Real Estate Search section of coldwellbanker.com to respond to the growing percentage (38%) of visitors using non-traditional search options on the site. Non-traditional searches include mobile phone sites and apps, as well as unique search functions such as keyword, lifestyle, affordability and BlueScape®.

This newly enhanced section of the website combines various real estate search options and tools available on coldwellbanker.com into one location to help consumers explore and acquire information for their home search.

From local community amenities to an affordability radar, informational videos to direct access to agents, this unique search section now provides consumers with more than a dozen ways to search, gather information and find the right home and community for their lifestyle. Visitors will also gain access to download mobile tools including apps for the iPhone, Android and iPad for searching on-the-go.

“With nearly 40% percent of all searches on our website now being conducted in non-traditional ways, we continue to provide visitors with search alternatives and resources to access during the home buying process,” said Michael Fischer, chief marketing officer, Coldwell Banker Real Estate. “The days of only offering bed/bath search functionality are over. Consumers want and need more options, and allowing them to search for homes as they see fit is critical.”

The following search options and tools are available on the new Properties Real Estate Search section:

• Lifestyle Search*: From public transportation to wide open spaces, restaurants to trendy neighborhoods, those who are focused on location, location, location can rate which lifestyle characteristics are important to them.
• Affordability Radar*: For the budget conscious, this tool enables users to identify upfront if a home on coldwellbanker.com fits within their budget based on their household income, monthly debts, available funds and loan terms.
• BlueScape®: Built for dreamers and designed for home buyers, BlueScape allows consumers to experience the home searching process in an entirely non-traditional way, by rating abstract images with thumbs up or thumbs down. The BlueScape technology serves up listings that match each individual’s inherent preferences.
• Coldwell Banker On Location®: Honing in on video as the future of real estate, Coldwell Banker’s branded YouTube channel provides thousands of videos, including community videos, virtual tours and agent videos.
• Home Listing Report: The Coldwell Banker Home Listing Report allows site visitors to compare the average home price listing for a four-bedroom, two-full-bathroom home in more than 2,300 markets so they can see how each area stacks up in affordability.
• Mobile Apps and Mobile Sites: Users can download the mobile app that fits their needs to search for a home anywhere, anytime from their iPhone, Android, iPad or other handheld device.
• Luxury Properties: Those in search of the most extraordinary properties in the world can begin their search here.
• International Property Search: Global home buyers can find a property overseas by searching coldwellbanker.com listings in 50 countries.
• Vacation and Second Homes: Home buyers who want to hit the slopes, lounge on the beach or chill in a villa can identify the perfect home-away-from-home.
• New Homes: If finding a new construction home is a priority, home buyers can narrow down their search with the New Homes area.
• Agent and Office Search: Coldwell Banker has an expansive network of agents and brokers who can help home buyers and sellers make smarter real estate decisions. This feature allows site visitors to begin their search by choosing a trusted agent or office first, who will help guide them through the process.

*Note: The Lifestyle and Affordability search options are not included on the Coldwell Banker Canada website (coldwellbanker.ca)
About Coldwell Banker®
Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of nearly 92,000 sales associates and brokers working in approximately 3,300 offices in 50 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to augment its web site http://www.coldwellbanker.com for smart phones, the first to create a iPhone application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel.The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.

Why not own it?

Why not own it?
COLDWELL BANKER REALTY CORP. ASSOCIATES OFFERS Five reasons to purchase a home now

For most people, deciding to purchase a home is the largest financial decision of their lifetime. Rather than sitting on the fence, why not own it?, asks Coldwell Banker Real Estate. Mortgage rates are near historic lows and with home prices more affordable, right now is the perfect time to speak with a professional real estate agent and seize the opportunity to achieve the American Dream of homeownership.

According to a recent survey from the National Association of Realtors, nearly eight out of 10 respondents believe buying a home today is a good financial decision. Based on this, the professionals at Coldwell Banker Realty Corp. Associates have provided the following five reasons why now is an optimal time to get off the fence and consider owning the fence instead (and the home within it)!

1. Homes are More Affordable – Home prices remain more affordable than ever before in markets across the country. According to the Freddie Mac House Price Index, current housing prices are down 27 percent on average across the nation from peak values five years ago. Coldwell Banker Real Estate showcased affordability levels in its 2011 Home Listing Report, which ranked more than 2,300 markets.
2. Rates are Low – Mortgage interest rates remain near historical lows, which can mean lower monthly payments and/or shorter lending terms. Coldwell Banker Real Estate recently launched an online First-Time Home Buyer Resource Center that features content and tools to help educate potential first-time home buyers.
3. Homeownership is Still the American Dream – Lifestyle changes such as marriage, having children and starting a new job are some of the most common reasons that people decide to purchase a new home. But the American Dream of homeownership is much more than just a piece of property, it’s a home. According to a recent Coldwell Banker survey of more than 300 consumers who purchased their home in the last year, 67 percent said the market afforded them the opportunity to buy a home sooner than expected and half said they found a home in a more desirable neighborhood than expected.
4. Financing is Available – Though many people decide they want to purchase a new home based on lifestyle factors, the financial aspect of purchasing a home needs to be top-of-mind. A potential homebuyer should conduct the necessary research to prepare for the home buying process. Today’s borrower needs to have stable employment of at lease two years; sufficient income to cover the monthly mortgage payment and living expenses; adequate savings to make at least a 3.5 percent down payment; and, in general, a credit score of at least 620.
5. Timing is Everything – “Timing is everything,” a saying used to describe just about anything, is incredibly true when it comes to home buying. When preparing to purchase a home, take the time to research other factors that could affect the home buying process. For example, according to new loan limits published by FHFA and HUD, conforming loan limits will be reduced on October 1, 2011, which will decrease the availability and affordability of mortgage credit for many home buyers in 42 states.

Coldwell Banker Realty Corp. Associates located at 600 E. Main Street, Lansdale, PA can be reached at 215-855-5600 or by visiting http://www.cbrca.com. Coldwell Banker Realty Corp. Assocaites has been serving the greater Philadelphia area for 30 years. Each Office is Independently Owned and Operated.  Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC.