Taking Care of Your Home Maintenance this Summer

As we get into the dog days of summer, it’s important to remember to take care of some routine maintenance items in and around your home before the cold Pennsylvania months roll in. By performing these tasks regularly, you can ensure that you keep your home in great condition, giving you a better chance of receiving a good price if or when you decide to sell.

For a safer and happier home, don’t let these warmer months pass you by. Here are some areas to address in your home this summer, from a friendly Chester County realtor:

1) Interior. An increasing number of homeowners today are looking to keep their homes energy efficient to cut costs and keep themselves comfortable. To ensure that your house will be in top condition all year around, be sure to check your heating and cooling systems regularly.

Keep in mind that repair professionals are often very busy fixing air conditioning problems in the summer and heating problems in the winter. Checking your air conditioning in the spring and your heating in the fall will provide you with enough time to schedule an early appointment if any repairs need to be made. 

2) Exterior. Summer weather is perfect for getting some fresh air and making sure the outside of your home looks great. A simple wash with your garden hose or a coat of fresh paint could be just what your house needs to look brand new again. Adding flowers and watering your lawn regularly are also great ways to spruce up your landscape.

While you’re making the exterior of your home look great, be sure to take a close look at it. This will be your best chance of finding any signs of termites or other unwelcomed guests that might try to stay with you in the winter.

3) Garage. The garage often holds materials and chemicals that can be hazardous and sensitive to changes in temperature. Before fall arrives, make sure that all of your summer tools are taken care of and put in a safe area until next year. Take care to properly dispose of any and all chemicals, including pesticides and weed killers. Not only could these prove to be harmful if they are accidentally spilled, but they may be sensitive to temperature change and could cause quite the mess as the months go by. If you have children, make sure they know to stay out of the garage unaccompanied.

4)Walkways and driveways. Checking your driveways and walkways every now and then could save you a great deal of money and headaches in the future. Cracks and holes in the pavement may not seem like big issues now, but if they are not taken care of at an early stage, they could cause injury due to tripping or even large potholes that need to be resurfaced.

If you have weeds popping up in between the cracks of your pavement, try carefully pouring boiling water over them to prevent future growth. Taking care of the little problems now will prevent big problems in the future.

In many ways, your home is like any other asset you own—it needs regular maintenance to ensure it retains its value over the long term. Take these steps today to maximize your home’s value when it comes time for you to sell property in Chester County, PA.  

The Best Time to Sell Real Estate: Now!

Deciding on the right time to sell your home can be challenging, and it can really be different for everyone. Depending on what’s going on in your life, you may want to wait for the industry to recover, but if you want to be out of your house in the next six to 18 months, then the time is now.

Here are some tips on the best times to sell your property:

1) It’s the best time of the year. The most common time for buyers to look for houses is between the months of March and July. After that point, the market typically levels off and then picks up again in September and October. Don’t miss your chance to catch potential buyers at this crucial time. Not only will you find more hopefuls in the spring and early fall, but it will be easier for you to give your home curb appeal during these months than in the winter.

2) It’s a great time to upgrade. It’s a buyer’s market and there’s no better time for you to upgrade to a more desirable home. Interest rates are at an all-time low, and moving into a more sought-after property now will provide you with more opportunity to gain equity in the future. There has never been a better time for you to sell your current house and upgrade.

3) It’s early enough to beat the competition. There is expected to be an increase in distressed properties, including short sales and foreclosures, beginning in the fall. These low-priced houses will be extremely appealing to potential buyers who will be able to get a good-sized home with an inexpensive price tag. Distressed properties are expected to affect the market for at least the next 12-18 months, so get your house in the public eye now before they become your competition later.

4) It’s the push you need to move out and move on. With lending standards tightening and demand lessening, mortgages are becoming more difficult to obtain. To sit around and wait for the market to improve is to wait for something that may not occur for quite some time. There’s a reason you want to sell your home, and you shouldn’t let a less-than-desirable real estate market hinder you from making a crucial life choice for you and your family.

Talk with your family about your reasons for moving. Answers will differ for every household, but it’s up to you to decide what’s right for you.

If you need help making this decision, speak with a qualified real estate agent.

Handling a Real Estate Short Sale

When times are tough, homeowners may be forced to make sacrifices and sell their property in Chester County. A “short sale” in suburban Philadelphia real estate is an agreement reached between the owner of a home and his or her moneylender, wherein the lender agrees to accept less money than what is owed on the house. An alternative to foreclosure, a short sale may be a good option to consider if you qualify for one.

The following are the common steps associated with a short sale situation:

Step 1: Contact the lender and send a letter of authorization

It may take time, but try to get a hold of a supervisor who can give you some direct answers regarding short sales when selling a home in Chester County. Once you have your facts straight, you can submit a letter of authorization to the lender. Lenders don’t want to get in trouble by disclosing your personal information, so the letter of authorization will get the ball rolling by permitting the lender to disclose information about you to the specific parties mentioned. Be sure to include your name, the date, the loan reference number and the property address in your letter.

Step 2: Create a preliminary net sheet and hardship letter

The preliminary net sheet displays an estimate of the sales price that is expected to be received, and all of the costs of the sale, including unpaid loan balances and late fees. Don’t worry if you aren’t sure how to calculate these costs—you can always work on this with a lawyer and/or closing agent. You will not need a short sale if the bottom line shows cash to the seller.

Once this is set up, it’s time to start work on your hardship letter. This list of facts explains to the lender how you got into your financial crisis. The lenders are human beings, too, and they can be more understanding than you think. Just make sure to be honest about your situation.

Step 3: Send in a proof of income

Just as you’ve been honest in your hardship letter, it’s important to tell the whole truth when disclosing information about your income and assets. Lenders cannot afford to lose more than they have to when it comes to suburban Philadelphia real estate, so they want to make sure that you’re really in need of the help you are asking for. Be sure to include in your proof of income anything of tangible value, including cash and other real estate, as well as any bank account balances you may have.

Step 4: Complete a purchase and listing agreement

Once you’ve found a buyer, the lender will expect a copy of the offer and of the listing agreement. Make sure that you are prepared for the lender to refuse to accommodate for certain things, such as home protection plans. If all goes well, you will be able to sell your property in Chester County and your short sale will be approved.

Short sales can be difficult, but with the help of a certified realtor, the process can be easier on you. If you have questions about this process, contact Liz Saunders, Associate Broker with Coldwell Banker Preferred, today at 1-888-914-4833, or send her an email.