Hank Baskett III my most viewed photo in Flickr

Hank Baskett III is moving to the Colts, so I heard this morning. I’ll miss him. He is from Clovis, New Mexico and went to school with my daughter, AChrome23. It was fun to have him close by.

Good Luck with the Colts and GO E-A-G-L-E-S!

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When I signed into my MLS system today, I noticed a new Market Statistics at a glance and I thought it would be perfect to highlight the figures here on WestofPhillyBurbs.com.

As always, if you have particular questions – because the real determinations are very localized – don’t hesitate to ask in an email or comment for a write up on your township, neighborhood, town.

All based on Single Family Homes in Chester County

Chester County Inventory of Houses for Sale

February 2008 3,507 (Accumulation 7.9 months)
February 2009 3,463 (Accumulation 9.6 months)

The Inventory Accumulation is based on how long it is calculated to sell the current inventory at the current rate of sales.

Chester County Market History

Settled in February 2008 285 (Median Price $309,000)
Settled in February 2009 199 (Median Price $267,000)

Year to Date in Chester County

Jan-Feb 2008 534 (Median Price $310,000)
Jan-Feb 2009 401 (Median Price $285,000)

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Sell House? Buy House? What First?

This is a common question that is presented to me more than I can count. It is important to gather research before making any conclusion. It’s sort of like getting together all of the pieces to a puzzle first; then putting the pieces together to make the master plan.

Some of the pieces to the puzzle you should investigate are:

• What is the current housing market?
• What does the future look like for the housing market?
• What is the hyper-local activity and competition around you?
• What funds do you have available to use? (And what would happen if you got stuck with two mortgages?
• If you plan on carrying two mortgage on your houses, are you prequalified to do so?
• Do you have temporary housing (or options available) if you sell first?

It can be done, but it’s sometimes tricky to have your settlements (sell and buy) on the same day. You have to coordinate moving company, be confident there won’t be any hiccups, and have impeccable timing procuring a Buyer & a new house you’d love to buy.

I can hear you now, “Aren’t there sale of home contingencies?” Yes, there are, and those could work to help with the timing issue.

There are many pieces to fit together. It can be overwhelming and sometimes painful. I won’t tell it how I think you want to hear it, I’ll give you my opinion, even if it might be painful for you – like wait and don’t buy or sell your house right now.

It is important to sit down with the experts that can help to guide you in making the decision to sell or buy first. If you are contemplating this Real Estate question around Chester County, I’d be happy to talk with you and help gather your pieces to help you make the best decision. Whether you listen is totally up to you!

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Tips to Get your Home Sold in Chester County

There are a lot of homes for sale in Chester County; what can you do to stand out as the favorite of the home buyers?

1. The REALTOR(R)- Make sure you have hired a professional real estate agent that will guide you in getting your home dressed up and in shape for the best opportunity to get your home sold!  I am not afraid to give you a “Client Do List” that I believe will help in bringing you the most money and highest potential for a sale.

2. Price it Right- Yeah, yeah, yeah you’re tired of hearing about it. But it is very important to price your home better than the competition.

3. De-clutter- One of the near impossible things as a REALTOR(R) to teach a buyer is how to envision a home in a different condition. That is a hard thing to learn – Some people have it and some don’t. So go get a storage unit – and fill it up! All surfaces should be bare.

4. Go Away- Most buyers will agree it is a lot more comfortable when sellers are not present during home showings. They are more free to look and it’s easier for them to come away with the feeling of House Love.

5. No Pets- Dogs can be the friendliest of creatures and quickly turn into very good guard dogs when owners are not around. Some buyers have fear of both dogs and cats… I’ve even had some people not enter a home if they know a dog or cat is there.  Take them out for a walk/ride – everyone will be happy. (And clean the cages, litterboxes, and grass !)

6. Neutralize- Both odor and overbearing smells are offensive. Ask a close friend or agent if your house smells, you usually won’t be able to tell yourself. Air fresheners & candles that are overwhelming end up being a negative.

7. Color Splash- Setting the stage is important. It makes a ‘house’ warm and inviting so more apt to be thought of as a possible ‘home’. I can give you some helpful hints and there are also professional stagers you can hire.

8. Bright- Natural light is best so open those blinds & curtains! In addition, turn on all the lights to maximize the brightness.

9. Curb Appeal- The outside welcome of the property is important. The first impression. Trim the bushes, weed the flower beds, add some potted plants of color, touch up the door & mailbox, put away the trash cans and go pressure wash happy!

10. Clean- On the days of showings or an Open House, go around with the bottle of glass cleaner and clean all mirrors, sliders/doors, and faucets; vacuum; dust; and clean bathrooms.

These are all helpful tips in getting your home sold in Chester County or elsewhere. Of course nothing can be summed up in 10 points – but it’s a start. I’m happy to meet with you and discuss different options and timing on getting your home sold for the most money!

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Take Pictures before you Move

Many times in life we have to let things go. It doesn’t always get easier with time, let me tell you! As an Air Force Brat, I grew up moving our home every couple of years or so. That meant a lot of letting go…. learning to not get attached to a house, understanding that I probably wouldn’t ever see the people who became my friends after we moved, and saying goodbye to my grandparents in Chester County before we left for each assignment. It didn’t get easier.

There has been one thing that has made it easier for me … pictures! With every move I’ve made as an adult, I’ve found it’s much easier to throw/give things away and pack less to move if I take pictures of things first!

I wish I’d known that as a preteen. My parents still joke with me that they found a box of wrappers when moving from England back to the United States. I still think I have a good defense, “It was only one shoebox and the candies & crisps were so different than anything they had in the US!” (Crisps=potato chips. England was way ahead of US with Salt & Vinegar, Pizza, Crab, etc. US still doesn’t have Beef flavored ) The wrappers got tossed. Wish I had a picture!

When you prepare to move … take lots of pictures. Not just of the “house” but of people enjoying it! Get the kids sitting at the island for their after school snack, the neighbors gathered on your deck for a BBQ, the family lined up the stairway, etc.

To ease the pain of letting go of sentimental items, take pictures! When we cleaned out my grandmother’s house to move her to assisted living – it was hard not taking everything that I had a memory of childhood from. But taking pictures of those items made it so much easier.

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I’ve discovered over the years that I’m actually ok to hang out with. I used to hate every minute I was alone and needed people around me at all times.

I have a friend whose daughter loves to read. She has a very special place. I’m sort of envious over it. It’s a spot in a tree. Just the right spot. Comfy. Cozy. She reads for hours up in her tree. Last night there was a storm. PANIC! ::BOOM:: “What if that was my tree?”

Find your place. Love your place. Don’t let it go.

There are a lot of emotional ties that go with a house sometimes. I’ve found most of people’s emotions to be Happy Ones. If your special place is in your home… what will you do if you move ? What will you do if the storm comes?

You’ll be guided to another special place. Really. You will. It’s a place that makes you feel good. You can get to that relaxed state. No worries. You might make some big decisions while in your place.

Moving into a new home takes some getting used to. You have to let it wrap itself around you, but soon it will be comfy and you’ll wonder what you did without each other. You’ll get to know each other in no time. Maybe it will even give you a special place.

Some places to try… on the window bench seat by the nook, on the deck, in a tree, on a raft in the pool, on a bench by the creek, on the porch in a rocker…… where is your special place?

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Technology has come so far – and it isn’t going to stop. I don’t want to get left in the dust. When I have Buyers or Sellers that are looking for a Real Estate professional to handle one of the most expensive investments in their future, they need someone who is up to par with today’s marketing needs.

I began blogging a year ago on ActiveRain. West of Philly Burbs was born in the fall of 2007. What is in the future? You better believe I’ll come away knowing after this conference! And I plan on changing my business pattern to stay ahead of the game. I’m devoted to that for my Buyers and Sellers in the Greater Chester County area.

Five years ago, if you were going to buy or sell a house, you would probably look in the newspaper classified section. You would also know when the local retail store or restaurant received their copies of the latest Real Estate Print Magazines for the month as you knew when to run out and grab the latest edition.

Today, home buyers and home sellers are looking on the internet to buy or sell their home. In my business, 100% of the buyers I’ve helped have used the internet in some way. According to NAR (National Association for Realtors®) the number is over 80%. Sellers should expect their home to be marketed and talked blogged about. Sellers should not settle for a mere “MLS presence”. Your Real Estate agent should be shouting about your home from the Mountain top!

Sellers, would you like an easy way to tell if they are? Ask the Real Estate Agent to give you a property address they are currently marketing. Google search it. Make sure the first page at the least is filled with various websites.

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Of course, timing is everything as far as pricing a home, so I won’t be able to offer much help as far as that goes unless we are talking about <30 days. The market changes frequently in – I wish I had a crystal ball in the Real Estate world!

It doesn’t matter that the homes are in Thorndale or Norristown, the story will be similar around the entire Greater Chester County Area. My focus will be what the sellers can do to add value to the price of the home.

Each home has different needs as far as increasing value. I have a long checklist, but some homes only need a few items worked on. So I don’t mind taking the time to come out and give my professional opinion about what to do to prepare the house and property for selling.

I will tell you what the majority of home buyers are requiring in the homes they buy during this market.

There are so many homes for sale on the market today, there are plenty of homes to chose from. Buyers are not looking for fix-up projects like they used to. They’d rather pay a little bit more, and have it ready to move in. A year ago, I could help my clients disregard even carpet and paint in the home they were looking at. Not anymore. Why? Because there is another home a block away that is the same price or a tiny bit more with brand new carpet and new paint. (No offering money for credit is not as effective right now).

A few of the items that seem to get repeated on many of the homes I market for sale in Greater Chester County:

• Clean, Clean, Clean: Most of the time this means de-clutter. My general rule for people is “pack like you are going away for a month to a vacation home, then put all of the extra stuff in storage somewhere.” I get a lot of “ewh” and “how can I live” comments from that, however, I’m only telling you what will increase value, you can take it or leave it, just know it will cost you in the long run.
• Curb Appeal: Take a look at the frontage of your home from the mailbox to the front door. How does it look? Need some weeding? Add some splashes of color (plants)? Does the front door need a coat of paint? New kickguard?
• Flooring: This depends on the wear and tear (and color), sometimes you can get a good carpet cleaning that makes it sparkle again.
• Repairs: If you’ve had some things you keep meaning to fix – do it! Home Buyers do not want to come into a home and have fix up projects waiting for them. The overall appearance makes all the difference.
• Upgrade: This is a bigger project, and depends on how long you have until you sell your home, however, if your bathrooms and/or kitchen have lime green or purple stoves or bathtubs, consider upgrading. Maybe it isn’t super old and you can get away with some new flooring. In any case, take a look at it, and think with a Home Buyer’s set of eyes.

Again, this is a very personalized list. If you’d like some help trying to decide what to do to get your home ready to sell at the very highest price possible, I’d be happy to come and give you some pointers. You can request an appointment via email Kim(at)KimWood.net or call me at (610) 692-6823.

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The assessment price is shown on our MLS printouts that a Buyer is given before viewing a home for sale in the area.  It is a portion of the market value price for the property that the county has established. (Each county is a little bit different however, In Chester County, PA,  the figure is based on 100% of the appraised value as of 1996.)

You can determine how much money you will pay in taxes based on the Millage Rate. (List for Chester County Millage Rates (For Chester County, PA you have to add the Millage for the School Districts to this sheet) , Montgomery County Millage Rates, Delaware County Millage Rates)   The millage rate is the rate the tax revenue is generated. It is 1/1000th of assessed value.

To calculate the taxes for a property, use the formula AV(assessed value)  x M (Millage)  = T(tax)

For example: Assessed Value = $100,000   Millage Rate= 3.804 mills (.003804)  Tax = $380.40
What is the Assessed Value?  $380.40 x .003804 = $100,000
What are the Taxes?  $100,000 x .003804 = $380.40

If you need some help finding your Millage Rate or Calculating the above… contact Kim Wood any time

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I got the pleasure of hearing our Co-Founder of RE/MAX International, Dave Liniger, speak last week in King of Prussia. He said the above and it was one of those “write down” statements.

If you are really ready to sell your home, you can not be on equal level with your competition. You have to be priced *better* than the house around the corner.  Why? If you were looking for a new car – and there were two that you liked equally – the only difference was the price – which would you buy?

A beauty contestant gets all dressed and ready for the big day. Sparkling clean, refreshed, energetic, primped, and shining! Primp your home, keeping it very simple. Clean, Clean, Clean! (That includes neutralizing smells – no strong odors of any kind whether you think they are “good” or “bad” ones)  De-Clutter everywhere – pack it up and move it out! 

I hope you are the winner of the war! Beautify the house and get it sold!

If you are thinking of putting your home on the market to sell, I can help give you more personalized direction in regards to price and things you can do to set yourself ahead of the competition.

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