Real Estate Issues and Answers

A forum for discussing various aspects of real estate.


Predicting Home Value in Cyberspace

New real estate metrics offer agents a whole new way of helping sellers predict the value of their homes.

One of the primary duties of a real estate agent is to assess the value of their seller client’s property. While a value assessment is considered an opinion, it is a benchmark in establishing a responsible and equitable sale price of a home.

Understanding how Multiple Offers on a Home Should be Handled

The dream of many a home seller is to receive multiple offers. The unfortunate part of a multiple offer situation is that there will likely be winners and losers. The outcome of these situations is important to all parties, and it is critical they understand the ethics and strategy of how to handle multiple offers.

Will 2017 Bring Property Tax Reform in Pennsylvania?

A hope I hold for the coming year is that our legislators have a renewed interest in property tax reform in Pennsylvania.

Since the early 1830s property taxes have been debated in the halls of the Pennsylvania State Capital. Ever since that time it has been the hope of most homeowners that the debate would result in the abolishment of, or at the very least reasonable, property taxation. But alas, property tax reform in Pennsylvania remains the hope of many.

Real Estate Representation on the Verge of Change?

A case relating to real estate representation has reached the California Supreme Court. The outcome may force the real estate industry into the biggest change since the inception of buyer agency.

Before the early 1990s homebuyers who worked with a Realtor® or brokerage to find and purchase a home were not represented. The only party represented was the seller, no matter how many brokerages were involved. Since that time buyer agency has emerged and has served to represent homebuyers exclusively.

Ready to Sell Your Home? Don’t Remove Family Photos Just Yet

Be careful how much you depersonalize your home when preparing it for sale. You could be sending the wrong message.

Getting a home ready to be seen by the masses is no easy task. It’s important everything look good and is working properly. I think most would agree; a clean, well-decorated home will sell for more money in less time. But is there more to it than that? Maybe so.

Really Want That New House? Consider an Escalation Addendum

Finding the right home is just the beginning. The next step is to acquire that home. Understanding your home purchase options is critical. An escalation addendum may be a solution.

So you have found that perfect home. You tell your Realtor® you want to make an offer. Your Realtor® calls the listing agent and asks if there are any other offers on the home. The listing agent says no but there have been several showings and an abundance of interest. In fact, the listing agent says that another agent is likely to bring an offer.

What Would Happen to Home Values if there was No Seller Credit?

Many home sellers consider paying some or all of a home buyer’s closing costs a negative. Would it be better if the practice of paying closing costs did not exist? The answer may change your way of thinking about the practice.

Spend any time in the real estate industry and you will hear the adage, home values are mainly a product of three things, location, location, location. Obviously, the location has much to do with home values but is there another term that should be considered? How does liquidity, liquidity, liquidity sound?

Don’t Get Caught in the Home Inspection Trap

Most home buyers consider hiring a home inspection company to review the condition of the property they are about to purchase. The home inspection can include the following: Home/Property Inspections and Environmental Hazards (mold, etc.), Radon, Wood Infestation, Water Service, On-Site Sewage, and almost anything else one can think of.

Where Has the Deposit Money Gone?

When a buyer and seller enter into an agreement of sale to purchase real estate in Berks County, it is a common practice for the buyer to provide deposit money. The deposit money is often recognized as a sign of good faith and commitment from the purchaser to honor their obligation to purchase the real estate.

The Feedback on Home Showing Feedback

You have your Berks County home for sale. The phone rings and you are notified that someone wants to see it. The showing request is for tomorrow at 2:00pm. It is a bit inconvenient but you do not want to lose the opportunity. You approve the showing, adjust your schedule and proceed to prepare the home for the event.

You work hard and everything is right. You leave the house so the prospective buyers and their agent can freely preview and discuss it.

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