New Bank Owned Properties

Here are the foreclosures that have hit the market in the past 12 days in Chester, Montgomery and Delaware counties.  Bank Owned properties are typically good deals but usually require a lot of TLC.  Email me at laurajlaws@gmail.com or call 484-985-5222 if you’d like a listing directly emailed to you or if you’d like to set up a private tour.  Click on the pictures below to enlarge them.

Chester County Foreclosures

Chesco 8-29

Montgomery County Foreclosures

MontgCo 8-29

Delaware County Foreclosures

Delco 8-29


Increase in Cash Buyers

More than half of all homes sold in 2012 & so far in 2013 have been done with cash.  That’s an amazing statistic when you consider that percentage was only 20% before the housing downturn.  Many of these are investors buying up the distressed properties in the hardest hit areas of the US like Florida, California and Nevada.  Even considering that it still seems like a huge increase in cash buyers especially when you consider how low interest rates have been in the past year.

Every day I see bank owned properties in the area being bought up for cash and I have seen an increase in foreign investors as well.  However, when I pull up recent sales for homes in the $200,000-$500,000 price range in our area I’ve noticed a lot of cash sales of homes that are not distressed sales.  There’s no way of knowing who these cash buyers are but I would guess after the economic downturn many people began saving more and now they need a place to put their cash.  It could be more Americans are looking for the peace of mind that comes with living in a home without a mortgage.

Click here for the article in the Wall Street Journal.


New Bank Owned Properties

Here are the foreclosures that hit the market in the past 10 days in Chester, Montgomery and Delaware counties.  Bank Owned properties are typically good deals but usually require a lot of TLC.  Email me at laurajlaws@gmail.com or call 484-985-5222 if you’d like a listing directly emailed to you or if you’d like to set up a private tour.  Click on the pictures below to enlarge them.

Chester County Foreclosures

ChestCo 8-17

Montgomery County Foreclosures

MontgCo 8-17

Delaware County Foreclosures

DelCo 8-17


How is the Market Doing?

Here are some statistics on single family homes in the area for July 2013.  Inventory is down, sales are up and the days that homes sit on the market are down compared to a year ago.  Email me at Laurajlaws@gmail.com if you are looking for specific statistics in a school district or a township.

CHESTER COUNTY

Chester Co July Inventory

Chester Co July Sales Trend

Chester Co July DOM

DELAWARE COUNTY

Del Co July Inventory

Del Co July Sales Trend

Del Co July DOM

MONTGOMERY COUNTY

Mont July Inv

Montg Co July Sales Trend

Mont July DOM

This data is compiled from sales reported to Trend, our local MLS.


New Bank Owned Properties

There were many foreclosure that hit the market in the past 10 days in Chester, Montgomery and Delaware counties.  Bank Owned properties are typically good deals but usually require a lot of TLC.  Email me at laurajlaws@gmail.com or call 484-985-5222 if you’d like a listing directly emailed to you or if you’d like to set up a private tour.  Click on the pictures below to enlarge them.

Chester County Foreclosures

Chester Co Bankowned

Montgomery County Foreclosures

Moco 1 Moco 2

Delaware County Foreclosures

Delco


Staging your Home to Sell

15 seconds!  That’s how long most buyers spend clicking through pictures of houses when they begin their search.  I’ve heard numbers as high as 90% of buyers begin looking online before they buy.  As a seller how do you get their attention, get them off of their smartphones and into your beautiful house for sale?  Stage your home!

Our MLS system allows up to 25 pictures for a listing, so tell a story of a beautiful home through these pictures to capture buyer’s interest.  When we take photographs of your house the rooms should be decluttered to show off the space, have great lighting to bring in warmth, beautiful curb appeal and they should be beautifully accessorized.  Below is just a few of the tips I give my sellers.

Declutter-One of the major contributors to a cluttered look is too much furniture.  Many professional stagers remove half of the furniture in a home.  Take a look to see if you can sell some furniture or put the furniture in storage.

Update your kitchen– Here is an example of a quick update to a kitchen that you can get completed in probably two weeks.  Buy stainless steel appliances and sell your old ones to help with the cost.  Replace laminate countertops, old sinks and faucets with new granite, undermount stainless steel sink and new faucets.

(Click on the photos to enlarge them)

Before

Before

After

After

After

After

Room Transformations– Repurpose a room or a large nook in a hallway.  Make a reading nook with an arm-chair and a throw.

Hallway Nook

Add accent tables

Create a Reading Nook in an office.

Create a Reading Nook in an office.

Bathrooms– Create a spa like feeling with candles, matching towels, plush bath mats, rolled up wash cloths in baskets and flowers.

Accessorize a Bathroom

Accessorize a Bathroom

Take a look at the online listings of similar properties for sale in your neighborhood.  How does your house compare?  Preparing your house to put it on the market takes a lot of work and an eye for detail.  Snap your own pictures, sit down and look at them with a critical eye.  Put yourself in the buyer’s shoes and consider what their impression will be when they take that 15 seconds to click-through pictures of your house online.