In today's challenging economy, what better way to build financial growth and security than to have your home pay for itself! Whether as an investor, or first-time home buyer, this charming duplex offers the opportunity to live in the one unit and have the 2nd unit's rent cover your mortgage!
2715 N 16th Street offers just that solution. Listed at only $113,000 mortgage payments could be as low as $462.94 per month. There are many programs available for first-time home buyers at great rates, too! See the financing details below for FHA rates as low as 3.81%
For more information about investment properties, call 267-238-1048 for your complimentary consultation.
The unique neighborhoods of Philadelphia add to its charm and diversity. This Sunday you can preview 3 delightful homes in 3 different areas offered at the same price - $239,000!
1) Queen Village - Philadelphia's first neighborhood, a rich past, restaurants, shopping and easy access to Center City make it one of the city's most interesting spots. Abbott's Court offers convenient living with completely renovated homes in a courtyard community.
Price Reduced on all 5 units! Ranging from $225,000 to $252,900. Completely renovated with luxurious finishes and central air. 10 Year Tax Abatement. No condo fees ever! Move in without worries of maintenance and repairs! Seller motivated!
2) Art Museum - A part of Center City, Art Museum residents enjoy close access to all the City has to offer, but enjoy living in a residential area. There are many, many attractions - from the Rodin Museum to favorite restaurants, in addition to easy access to Center City nightlife. 792 N Pennock Stis a delightful bi-level condo offering a quiet Art Museum retreat. Hardwood floors gleam as you enter.
The open reverse floor plan is very creative and well suited for an artist's easel. Also offered at $239,000 - it's ready to move in.
3) East Falls - A unique area that has direct access to the Schuylkill River and Fairmount Park. Lots of open space, parks and a pet friendly neighborhood.For those that want the advantages of more space and parking that the suburbs offer, but still want easy access to Center City, 3670 Calumet is walking distance to the train for a short commute to Center City. The best of both worlds!
With 3 stories, 3 bd / 3 ba, plus bonus room, full basement, 3-car garage and fenced yard you have all that suburban living offers, but still part of the city lifestyle. You'll find lots of extra living space and storage. Be sure to check out the master suite on the 2nd floor. Also offered for $239,000 and ready to move in.
It's the job of thereal estate appraiser. His or her job is to evaluate a property and tell you, the buyer, what condition it is in and the value. Of course, as a seller, you can also have your home appraised so you get an objective "third party" view of your property. Real estate appraisers are licensed by the state. Regulations vary, however, so I recommend you contact either me or a bank for information on qualified and ethical appraisers (more on this later). Often, they are independent contractors associated with appraisal firms headed by aCertified Appraiseror the equivalent.
What are the Benefits of Using an Appraiser's Services? When you are a buyer, appraisers can provide you with two great benefits:
First of all, they can uncover hidden problems that could end up costing you a lot of money down the line. Their appraisal can help you to either avoid the property all together or negotiate a lower price to compensate for future costs.
Second, appraisers can do the opposite -- uncover hidden opportunities for you! For example, you might be considering a home that doesn't look all that wonderful on the outside, but is actually in solid shape as far as its structure is concerned. So, through an appraiser's efforts, you may end up with an outstanding bargain.
From the seller's viewpoint... an appraisal can uncover items that need to be fixed before you put your home on the market. This ensures that your property is in the best shape possible before prospective buyers ever look at it.
What Kind of Report Will I Receive from an Appraiser?
A certified appraiser should provide you with a written report. These reports generally consist of the following nine items:
1. A description of the property and its location based on a visit to the property by the appraiser. The appraiser evaluates the condition, overall livability based on design, layout, and appeal to the market, and other external factors).
2. An evaluation of the “highest and best use” of the land; that is, the use for a piece of land, or property in general, that maximizes its net present value.
3. An evaluation of sales of comparable properties (usually three) as similar to the appraised property as possible.
4. Information regarding current real estate activity and/or market area trends.
5. An evaluation of the overall real estate market in the area.
6. Statements about items the appraiser feels are detrimental to the property's value, such as poor access to the property.
7. Notations about seriously flawed items, such as a crumbling foundation, leaking roof, etc.
8. An estimate of the average sales time for the property.
9. What type of area the home is in (a development, stand alone acreage, etc.).
How Do I Find a Certified Real Estate Appraiser?
I can direct you to very qualified appraisers, or you can find one through your bank, as it too should have a list of approved appraisers. If you decide to find an appraiser on your own, check his or her background carefully. As with any profession, there are always a few scam artists who inflate appraisal amounts in order to make more money.
Check with the Better Business Bureau and the Pennsylvania State Appraisal Board. You can also check with your bank to make sure an appraiser is not blacklisted.
How Much Does An Appraisal Cost?
Generally speaking, an appraisal runs from $300 to $500. However, fees do vary with location.
If you need more information on real estate appraisers or any other real estate topic, be sure to call me. I would love to discuss these matters with you!
Buying a foreclosure is a "horse of a different color" and requires some expertise, knowledge and old fashioned negotiation skills! Maria is a Certified Negotiation Expert and shares her knowledge, tips and tools with the Buyer Specialist team. In addition, at a recent REO conference Maria and I learned some inside tips on how to buy an REO and what asset managers are looking for in an offer.
Top 3 Tips for buying a foreclosure:
1. Buying "As-Is" When you're buying a foreclosure, there is no sellers disclosure. Usually the asset manager responsible for the sale has never seen the property. Although in some situations, lenders may pay for some repairs or offer some concessions - it's best to plan on an "As-Is" contract and do your due diligence before making your offer. We have invested in technology & training that allow our Buyer Specialists to submit a repair estimate with your offer, using software that is recognized by lenders and appraisers. By doing this up-front, we increase the probability of your offer being accepted.
2. Be prepared for a 29 day close. Most lenders require a 30 day closing, but some national lenders have a 29 timeframe with no exceptions. We'll work with you to prepare for a smooth closing - on time!
3. Proof of Cash Funds. Lenders will require documentation of your funds as well as qualification information from your lender. We will want to thoroughly discuss what loan you plan to use. For instance, if it's a FHA or VA loan the property condition has to be at certain standards to qualify. We'll want to review options and problem solve before submitting the offer, reducing the risk of delays or unpleasant surprises.
For more information about how to buy a foreclosure, please contact us for a confidential Buyer Consultation. 267-238-1048 or SKunkel@CBPREF.com
Diversified Investors Group (DIG) is having their 7th Annual Investor & Landlord TRADE SHOW & VENDOR EXPO today, AUGUST 25th from 6–9PM at the Holiday Inn in Ft Washington, PA.
Whether you're interested in rehabbing, flipping or becoming a landlord - you'll find great information, resources and some "how-to" workshops at tonight's event.
Here's our top pick of real estate investment opportunities:
Charming fully renovated townhomes in Abbott's Court gated community offer a lifestyle of comfort and convenience. Located within walking distance to all the attractions of Queen Village, South Street and Center City.
Great fit for first-time homebuyers. The security of knowing all the work has been done for you! Interest rates are very attractive, and additional funding has been made available for first-time homebuyer assistance. Seller motivated! Will consider all offers.
To find out more, please contact us for a free buyer consultation, or to request a showing at 267-238-1048.
Open House this Sunday from 1-4:30 pm. For more details visit www.AbbottsCourt.com
Amazing architectural details throughout this stunning 3-story home in charming Graduate Hospital neighborhood. New construction from the ground up. Tiger wood flooring throughout. Gourmet kitchen with high-end stainless steel appliances, including a built-in wine cooler.
Master suite has deck with spiral staircase to roof-top deck that offers 360' degree views of Center City skyline.
Perfect for entertaining! Enclosed patio on first floor, media room in finished basement, and gourmet kitchen. Second floor has two bedrooms, full bath and home office. Third floor is dedicated to the master suite. For more details, visit www.2053Pemberton.com or call 267-238-1048 to arrange a showing.
Every two weeks I'll update you with a new video and article to help you make a smart decision in real estate and improve the value of your home in Philadelphia, PA.
