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<rss version="2.0" xmlns:dc="http://purl.org/dc/elements/1.1/"><channel><title>Rich Schiffer's answers on Trulia Voices</title><link>http://www.trulia.com/voices/profile/Real_Estate_Pro-19081-69424/</link><description>The latest answers submitted by Rich Schiffer to questions asked on Trulia Voices</description><language>en-us</language><item><title>Why are properties in chester price lower then all surrounding areas?</title><link>http://www.trulia.com/voices/Property_QandA/Why_are_properties_in_chester_price_lower_then_all-71258</link><description>Answer by Rich Schiffer: Your question was about this property:  &#13;
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http://www.trulia.com/property/1071880748-4600-Tosh-Ln-Chester-VA-23831&#13;
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which is in Chester, Virginia.&#13;
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The question was for some reason posted in the section about Chester, Pennsylvania.  (Which was presumably the basis for the answers relating to Chester, Delaware County, PA.)&#13;
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I was about to add my 2 cents to what Aleshia and Kevin said, but once I saw that the area in question was in Virginia, I figured that what ever I had to say wouldn't be worth 2 cents anyway.&#13;
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Good luck, wherever you are looking!</description><pubDate>Wed, 14 Jan 2009 14:26:48 PST</pubDate></item><item><title>how can i find out when a house was built?</title><link>http://www.trulia.com/voices/General_Area/how_can_i_find_out_when_a_house_was_built_-72669</link><description>Answer by Rich Schiffer: As someone who lives in the area, I can tell you that the public records are not always accurate.  For example, the county records (which Kevin referenced in his answer, below) state my home was built in 1900, when in fact it was built c. 1754.  Your best bet, if you have questions is to ask your Realtor, and for older homes, confirm with the Delaware County Historical Society at 408 Avenue of the States, Chester, PA 19013.  Their phone number is 610-872-0502.  Good Luck and Happy New Year.</description><pubDate>Tue, 23 Dec 2008 14:31:46 PST</pubDate></item><item><title>Listing Price</title><link>http://www.trulia.com/voices/Property_QandA/Listing_Price-72800</link><description>Answer by Rich Schiffer: The property had been listed for $219,000 on Dec 11th, 2007.  They reduced the asking price to $217,9000 on Jan 2nd, 2008, then to $214,900 on Jan 5th, then to $209,900 on Jan 18th.  On Jan 22nd, 2008 they accepted an offer of $200,000 which settled on Feb 28th, 2008.  The sale was recorded at the county courthouse on March 7th, 2008.</description><pubDate>Tue, 23 Dec 2008 14:10:36 PST</pubDate></item><item><title>I bought a house it is under agreement of sale with a 4 week settlement. I have my own realtor and the owner</title><link>http://www.trulia.com/voices/Home_Buying/I_bought_a_house_it_is_under_agreement_of_sale_wit-73321</link><description>Answer by Rich Schiffer: If your offer has been accepted by the seller, the listing agent should consider putting a "Sale Pending" sign over the "for sale" sign.  The lock box will remain until the day of settlement, so that inspectors, appraisers, repairmen, etc., will have access to the property as needed.&#13;
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There are times when the "for sale" sign remains, even when there is a contract pending.  If the pending contract carries a sale of home contingency (meaning the buyer must first sell their house, before buying this one) there is often a clause that allows the seller the right to continue marketing the property, and seek additional offers.&#13;
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Each situation is different, but once you have actually closed the deal, and the property is officially yours, you are of course free to remove the sign and lockbox.&#13;
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Have a Merry Christmas, and enjoy the New Year in your new home!</description><pubDate>Tue, 23 Dec 2008 13:55:47 PST</pubDate></item><item><title>Why is it so difficult to find information on Foreclosures.  I've done several web searches and most of the</title><link>http://www.trulia.com/voices/Foreclosure/Why_is_it_so_difficult_to_find_information_on_Fore-42080</link><description>Answer by Rich Schiffer: "Public Information" is not always synonomous with "free."  You can go to the count courthouse in Media, and get information about foreclosures by asking for a list of upcomming sherrif sale properties.  This will tell you which properties are about to go to auction.  &#13;
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To find out about properties not yet on the auction block, you can request a report on notices of default that have been filed with the court.  This report will tell you which properties banks have sent a notice of default to.  (Sometimes referred to as "pre-foreclosure")  some of these will get remedied, and some will end up in a sherrifs sale.&#13;
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Bank often purchase the foreclosed properties at the Sherrif's sale.  These are then referred to as REO (Real Estate Owned) properties.  The banks will then put them on the market with an REO marketing brokerage, and try to recoup their loss on the open market.  These (and HUD homes) are the ones you will find listed on the Multiple Listing Service.    Before the Sherrif's sale, the only way properties get on the MLS is if the owner lists it with a broker, trying to sell it before the bank can get it at the sherrif sale.&#13;
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Anyone can bid on a property at the sherrif sale, but you have to have cash or certified funds.&#13;
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There is a lot happening in the Chester market, because of all the economic development happening there (Harrahs, the New Soccer Staduim, Pacifica Ventures Movie Studio, the Crossroads at Widener, and the Chester Community Grocery Coop, to name a few) and investing in real estate in Chester has never been as promising, in my opinion.  Foreclosures are one way of finding good deals, but don't rule out traditionally listed properties, or even some new construction that is happening.  (Some of the new townhomes are selling for around $110,000, and can rent out for $1100 a month or more.)&#13;
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Feel free to contact me if you want any more information.</description><pubDate>Mon, 11 Aug 2008 11:55:48 PDT</pubDate></item><item><title>can you give me a listing of homes/townhomes for rent in the unionville chadds ford school district?</title><link>http://www.trulia.com/voices/Schools/can_you_give_me_a_listing_of_homes_townhomes_for_r-47134</link><description>Answer by Rich Schiffer: There are currently 14 rental listings on the Multiple Listing Service in Unionville/Chadds-Ford:&#13;
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MLS #        Address                            Price        Bd Bth Type &#13;
 5393149    414  Brandywine Dr      $1,495     2 1/0 Sng &#13;
 5371106  3503  Bridlewood Dr      $1,550     2 2/1 RTC&#13;
 5333692    305  E Street Rd            $1,750     4 2/1 Sng &#13;
 5387478      16  Longview Rd         $1,800    4 2/1 Sng&#13;
 5397913    110  N Village Ln           $2,200     3 3/1 RTC&#13;
 5399581     330 S Village Ln           $2,200      3 3/1 RTC &#13;
 5394820   1319  Vale Dr                  $2,275      3 3/1 Twn&#13;
 5367718     541  Windy Hill Rd       $2,500      3 2/1 RTC&#13;
 5366975       20  Old Orchard Ln    $3,000      5 4/1 Sng &#13;
 5393733     302  Manor Dr               $3,200      4 4/1 Sng &#13;
 5347499     110  Kelly Dr                  $3,500      4 4/1 Sng &#13;
 5356172       80  Atwater Rd             $3,750      4 2/1 Sng &#13;
 5354763   1686  Waterglen Dr        $4,500      7 4/1 Sng &#13;
 5390405     621  Webb Rd               $4,950      4 3/1 Sng&#13;
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Let me know if you need specific details about any of these properties, and I will email you the detailed reports.</description><pubDate>Mon, 11 Aug 2008 11:34:46 PDT</pubDate></item><item><title>Is it a good idea to buy a house in Chester PA (E.22nd st)? Will it be better in 5 years?</title><link>http://www.trulia.com/voices/Home_Buying/Is_it_a_good_idea_to_buy_a_house_in_Chester_PA_E_-44525</link><description>Answer by Rich Schiffer: Chester, despite some of the comments made prior to mine, is certainly worth a look.  22nd Street, especially, is in one of what is considered one of the more desirable areas (1st ward). &#13;
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There are many redevelopment projects happening that will influence the future of property values in the Chester market:&#13;
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Crossroads at Widener:  a new hotel and retail center across from Widener University is underway.&#13;
Chester Towers:  demolished, 4 new mid-rise buildings to replace the former hi-rise eyesores.&#13;
Waterfront Redevelopment:  Professional Soccer stadium, new homes, and commercial areas&#13;
Movie Studio:  Pacifica Ventures is building a hollywood-style movie production facility in Chester Township (which is likely to bring an estimated 2000 new jobs to the region)&#13;
Harrahs Casino:  Brings an estimated 15,000 visitors DAILY to the city.&#13;
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Perhaps the best news is the Chester Community Grocery Co-op.  A coalition of families in the area have come together to provide a full service grocery to the city (which has not had a grocery store in over 15years.)  (see the web reference below for more details)&#13;
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The momentum for Chester is forward-moving.  Property values have continued to increase.  Companies that have moved to Chester are succeeding.  Despite the negative reports, Chester is not all drug dens and gun violence.  I am not spouting a "positive spin."  I live nearby, and frequently attend worship in Chester.   I regularly take my twin 5-yr old boys to play in Chester Park.  I shop regularly in Chester, and attend a Christian Businessman's Breakfast weekly in Chester.  Some of the finest people I know live or work in Chester.&#13;
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The school district is getting an overhaul, and the charter schools are doing well.  (The new Chester School for the Arts is opening this year.)&#13;
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Don't let the nay-sayers make your decision for you.  Learn about the area, weigh the good and the bad, and decide for yourself.&#13;
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If you ask people about investments, they will tell you to "buy low, sell high."  Right now, Chester property values are about the lowest in the County, and are climbing.  I expect (though I cannot predict, of course) that because of all the money flowing into Chester, there will be considerable upward movement in the marketplace, and there could likely be a substantial appreciation on Chester properties in the following years.</description><pubDate>Mon, 11 Aug 2008 11:21:23 PDT</pubDate></item><item><title>are there any programs i.e. grants or forgivable loans for home improvements or home rehabilitation in</title><link>http://www.trulia.com/voices/Financing/are_there_any_programs_i_e_grants_or_forgivable_l-26541</link><description>Answer by Rich Schiffer: Delaware County does have several programs to help out home buyers.  One program provides a $5,000 loan, at 0% interest.  No payments are made till you sell the home, and if you live there for 5 years of more, the loan is forgiven.&#13;
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There are also other programs available.  See the web reference below for more details, and feel free to contact me if you have any questions I can help you with directly.</description><pubDate>Mon, 11 Aug 2008 10:50:40 PDT</pubDate></item><item><title>Offer Price</title><link>http://www.trulia.com/voices/Home_Buying/Offer_Price-48753</link><description>Answer by Rich Schiffer: In Springfield, during the last 3 months, the average Original List Price was $296,488.  The average Sold Price was $277,791.  I don't think your offer is too low, at all.  It is a starting point, and all negotiations have to start somewhere.&#13;
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In the 1st Quarter of '08, the recorded sales in zipcode 19064 averaged 97.3% of the asking prices, (See page 25 of the referenced report) so I suspect you will end up closer to $260,000, when everything is said and done.  &#13;
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Good Luck.  Feel Free to contact me if you need any more help understanding the local market conditions.</description><pubDate>Mon, 11 Aug 2008 10:43:53 PDT</pubDate></item><item><title>What do you do when your loan agent will not return phone calls??</title><link>http://www.trulia.com/voices/Home_Buying/What_do_you_do_when_your_loan_agent_will_not_retur-52001</link><description>Answer by Rich Schiffer: Your real estate agent that referred the loan officer should be able to provide you with several other professionals that they have dealt with in the past.  In this dynamic market, something may have changed, and the WellsFargo loan officer may not even be working for Wells Fargo anymore...a lot of loan officers are finding the need to look for new occupations these days.&#13;
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Open communication is one of the most important aspects of providing quality service.  If your loan officer (or your Realtor) are not providing the level of communication you want, then, as several others have suggested, find another professional that is willing to serve your needs.</description><pubDate>Mon, 11 Aug 2008 10:25:40 PDT</pubDate></item><item><title>We are looking for a relocation package??</title><link>http://www.trulia.com/voices/Home_Selling/We_are_looking_for_a_relocation_package_-32130</link><description>Answer by Rich Schiffer: Chester is on the rise, and nicely remodeled homes like the one you mention are a relatively rare find. Most of the properties on the market are in need of updating or rehabbing, so yours, being in good condition may sell more quickly, especially if you price it to hit the market rather than chase the market.  In April (The latest month I  have full stats for) showed 149 properties on the market, with 23 pending sales.  this represents a 6.5 month absorption rate, which is only slightly leaning to a buyer's market. (the web reference below explains what Absorption Rate is, and why you should know it when selling your home.) &#13;
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In addition, 3 bedroom homes that sold in April sold for an average of 90% of the original price, while the 4 bedroom ones averages 83%, and the 2 bedroom homes averaged only 50%!&#13;
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I am personally involved with the Chester Community Grocery Co-op (www.chestercoop.com) and am very familiar with the specific challenges of marketing properties in Chester.  Please let me know if I can provide you any further assistance.</description><pubDate>Sat, 7 Jun 2008 08:59:17 PDT</pubDate></item><item><title>I am currently living in a shelter with my three children.  I would like to know if there are any programs</title><link>http://www.trulia.com/voices/Quality_of_Life/I_am_currently_living_in_a_shelter_with_my_three_c-12989</link><description>Answer by Rich Schiffer: Sharon,&#13;
You will be pleased to know that there are programs available to help home buyers in the City of Chester.  In addition to the FHA loan programs that many lenders offer, and Downpayment Assistance Programs like the Nehimiah Program, there are county and city grants available.  One county program will give you $5,000 in a 0% loan, that you don't have to repay till you sell the house, and if you live there for more than 5 years, the loan is 100% forgiven.  Free money, essentially.   Contact me if you want more details.</description><pubDate>Fri, 6 Jun 2008 10:19:48 PDT</pubDate></item><item><title>How do I put a price on land that isn't worth much to most but has a lot of value to a cemetery behind me?</title><link>http://www.trulia.com/voices/Home_Selling/How_do_I_put_a_price_on_land_that_isn_t_worth_much-19865</link><description>Answer by Rich Schiffer: The value of raw land is, as you surmise, difficult to determine.  In Chester, in the past 2 years, therre have been only 2 land transactions recorded for comparison purposes.  The prices for those properties ranged between $100,000 to $200,000 per acre, but were very small lots (around 1/20th of an acre each).  If you have a full acre, which would be of value to a buyer, I would expect to price it accordingly.  Feel free to call me directly if you want to talk about ways to get the most for your property.  There are half a dozen or so vacant lot properties on the market right now, and they typically fall into that price range, unless they are in the area of the waterfront redevelopment.  Some of those properties are listed around $400,000 per acre.</description><pubDate>Fri, 6 Jun 2008 10:12:31 PDT</pubDate></item><item><title>Can agents do BPO's?</title><link>http://www.trulia.com/voices/General_Area/Can_agents_do_BPO_s_-7850</link><description>Answer by Rich Schiffer: According to the PA Real Estate Commission, real estate licensees are not permitted to perform BPOs under their real estate licenses. A BPO is considered an appraisal and can only be performed by someone who holds an appraisal license&#8212;such as an appraiser or a broker/appraiser. &#13;
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That being said, however, sometimes companies ask for a BPO when all they really just desire is a Comparative Market Analysis (CMA). Real estate licensees may provide CMAs if the CMA is being performed in order to obtain the listing. Remember, the CMA must have the disclaimer language contained in the RELRA.</description><pubDate>Mon, 21 Apr 2008 09:24:37 PDT</pubDate></item><item><title>Renovating or moving?</title><link>http://www.trulia.com/voices/Home_Buying/Renovating_or_moving_-12909</link><description>Answer by Rich Schiffer: You are in a situation that seems to call for a decision.  Either you need to improve your current home, making it more suitable to your needs, or move to a home that is already more suitable.  In your current home in Havertown, with only a little over a year's worth of equity, you are in a tight spot from a selling point of view.   &#13;
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Improving your basement won't add much in resale value (it is already a "finished" basement).  Altering the layout of the basement won't significantly alter the value.  Adding a powder room in the basement would potentially ad value, however.&#13;
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As to the additional tax issue that one answer brought up -- It is my understanding that only rooms that are above grade (ground level or above) are considered when assessing the square footage in the calculations used to determine the real estate taxes.  A room in the basement would not be considered a bedroom for most such purposes, for the most part (a few exceptions may exist, such as basements with a full walk-out. (not walk-up).&#13;
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If you did decide to sell, you might want to consider an area where you can get more home for your money, or an older home that might need some work, but already has the number of rooms you need.&#13;
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I know of at least one home in the Drexel Hill area that might fit that bill.  You can use the reference link below to see some of the details.  It has 4 bedrooms, and is on about a third of an acre, and the asking price is only 229,900.  Built around the 1860's -- it has a lot of charm.&#13;
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A home like that would need updating, and you would likely spend similar amounts in updating it as you would in renovating your current home.  The difference is that one has a higher potential for you to recapture some of the cost when you resell (hopefully more than 1 year and a half later) than the other, and it has more ground, and more privacy to start with.  If you are interested to see it, I think they will have an open house this Thursday, November 8, from 4:00 to 6:00.&#13;
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Weigh all your options, and do what you ultimately feel is best for your family's needs, both long-term and short-term.  A tough challenge, for anyone, to be sure.  I don't envy you the choice you have, but I will try to make it easier for you by answering any other questions you might have.</description><pubDate>Mon, 5 Nov 2007 17:08:10 PST</pubDate></item><item><title>Please let me know the approximate value of our current property - 419 Llanerch Avenue, Havertown, PA</title><link>http://www.trulia.com/voices/Home_Selling/Please_let_me_know_the_approximate_value_of_our_cu-12323</link><description>Answer by Rich Schiffer: Bryan, as I mentioned in another one of your questions, Havertown has seen an average home sale price increase of 4.95% over the past year, and the average home sale price has been 98% of the asking price.  If you apply those averages to your home, the outlook is not that great for you right now.  Do-able, just not great.  Remember, though, those are averages, and chances are, your home is not exactly average. &#13;
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I could not truthfully give you the kind of answer you want with only the limited information you have given us here, and like so many others before me, I would offer to come to the home, and give you my analysis of the marketability of your home in today's market. &#13;
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As so often before, I wish you good luck.  If you wish to contact me, I will be happy to help you determine the best path forward for you at this time.</description><pubDate>Mon, 5 Nov 2007 15:02:29 PST</pubDate></item><item><title>I live in Havertown, PA, and am thinking of moving within the township to a single home (3 or 4 BR).  How?</title><link>http://www.trulia.com/voices/Home_Buying/I_live_in_Havertown_PA_and_am_thinking_of_moving-12324</link><description>Answer by Rich Schiffer: Fred's answer is not too far off from what I would have said.  But I do disagree with some of his facts, however.  Prices in Havertown (19083) have increased 4.95% over last year.  That is a healthy, sustainable rate of appreciation, (and has out performed many other areas of the county).  In addition, there has been a 14.48% annual increase in the number of homes sold in Havertown, and the average number of days on maket is 45, compared with 52 county-wide.&#13;
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As to the core of your question:  Of the 166 homes sold in 19083 last quarter, the average sale price was 98.0% of the asking price.&#13;
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The recommendation to start your offer 10% below asking is too low in my opinion, especially in what is actually a healthy local market.  However, I say that, not knowing what the subject property is, its condition, history, or asking price.  All those factors (among others) have to be looked at when developing a negotiation strategy.&#13;
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(The web reference below is for the quarterly market statistics report for the entire greater Philadelphia area.  The report breaks down the statistics by County and by Zip Code.)&#13;
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Once again, good luck to you, and feel free to contact me if you have any other questions.</description><pubDate>Mon, 5 Nov 2007 14:18:44 PST</pubDate></item><item><title>Maximizing home profit</title><link>http://www.trulia.com/voices/Home_Selling/Maximizing_home_profit-12512</link><description>Answer by Rich Schiffer: Bryan, I find that whenever we make decisions, we get the best results when we know the facts.  Let me offer you a few facts that might help you evaluate your options.  &#13;
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1.  The median selling price when using an agent is 16% higher than when homes are sold directly by an owner.  (According to the National Association of Realtors, Home Buyer and Seller Survey, 2006)  Even if you paid a 7% commission, that is still 9% more in your pocket.&#13;
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2.  If you sell on your own, you must pay for all the advertising and marketing materials. (This expense is normally paid for by your agent or broker, should you use one.)&#13;
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3.  Buyers buying direct from an owner typically expect to pay (and intend to pay) less.  (see item 1, above)&#13;
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4.  Selling on your own usually takes longer than with an agent.  This results in additional taxes, interest, utility bills, insurance, and potentiall additional travel expenses back and forth if you move before the marketing of your home is complete.&#13;
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5.  Without an Realtor, you may have to engage an attorney to prepare or review contracts for you.  This is likely to cost more than a Realtor's services would have, and attorney's fees most often will be billed to you even if that sale does not go through.&#13;
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When buying a home, and using a Realtor as your "Buyers Agent", you are free to negotiate your contract with them, just as when you hire them to market your property.  It is possible to structure your contract with them so that you pay nothing out of your own pocket.  A Realtor, with their available resources and local market expertise, will also be able to save you money in the negotiation process on the purchase of your new home. &#13;
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So, I think you can see that your original question had a flawed premise. (Which I think you even hinted at when you said, "but again, I wonder if that's even realistic."  In fact, using a Realtor on the Selling side typically nets you more money, and using a Realtor on the buying side costs you nothing, and potentially saves you money on your purchase price.&#13;
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For an article about the "Value" of working with a Realtor, please see http://activerain.com/blogsview/98782/A-REALTOR-s-Worth &#13;
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As always, I wish you luck in selling your home.  If you need any other questions answered, please don't hesitate to contact me.</description><pubDate>Mon, 5 Nov 2007 13:57:08 PST</pubDate></item><item><title>OK, so I asked a question about selling our home (owned 1.5 years, highest-priced house on our block), and</title><link>http://www.trulia.com/voices/Home_Selling/OK_so_I_asked_a_question_about_selling_our_home_-12413</link><description>Answer by Rich Schiffer: This is a question that gets asked a lot.  I have a very detailed article about it on my blog (referrence link, below).&#13;
There are certain things that you can do in marketing your home to position yourself for success, including strategies with pricing and offering creative solutions for buyers, as has already been suggested.  Every real estate agent in the area will be eager to try their hand at marketing the property for you.  I know you also asked a question about buying a home in Drexel Hill.  In this market, you really need to concentrate on getting your home sold before making an offer to purchase another, (unless of course you are able to buy in cash).  Most sellers dont want to see home sale contingencies in the offers they negotiate, and relatively few buyers have the income to qualify for financing on more than one property.&#13;
Good Luck in your process. As always, let me know if there is anything else I can answer for you.</description><pubDate>Mon, 5 Nov 2007 13:20:20 PST</pubDate></item><item><title>Advice on offer price</title><link>http://www.trulia.com/voices/Home_Buying/Advice_on_offer_price-12514</link><description>Answer by Rich Schiffer: The previous answers both gave solid advice.  Let me, as someone local to the market you are buying in offer a few more words of advice, based on the facts of the local market conditions, and the specific property in question.&#13;
1.  229 Flintlock is considered part of Haverford Township, and while it shares the Drexel Hill mailing Address (19026), it is in the Haverford Township School District, not Upper Darby School District, which includes a large protion of Drexel Hill.  &#13;
2.  In the 19026 zip code, the 125 homes that sold in the last quarter did so at an average of 98.4% of the asking price.  The average sale price for that quarter was up .68% over the previous year, which indicates a relatively flat market.&#13;
3.  Public records indicate the owner 229 Flintlock has owned it since 1961, and there appears to be little debt recorded against the property, which indicates to me that the seller may not be as "motivated" as you think.&#13;
4.  When the property was first put on the market, the asking price was $283,900.  The average home sale price in Delaware County during the last quarter was $282,600, and this property does have a modern kitchen, and appears to be in move-in condition, so I don't think that the original price was too off the mark.&#13;
5.  Although much of the media talks about there being a "buyers market" today, that is not neccessarily true in all markets.  Delaware County, PA and New Castle County, DE markets are actually leaning slightly in favor of a Sellers' Market.  For an explanation of what determines a seller's or buyers' market, see http://activerain.com/blogsview/86836/Absorption-Rate-What-it &#13;
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Since they have already dropped their asking price by nearly 10%, and the average sale in the area is 98.4% of the asking price, and the market is leaning toward a sellers market, I would not suggest "low-balling" as an offer strategy.  Even though the property has been on the market for 90+ days, that is reason enough to support a low offer.  On the contrary, the most recent comparable sales in that neighborhood wer recorded between $289,900 and $310,000.  At the current asking price, I think you are getting a good bargain already, (and the seller undoubtably would agree).  &#13;
It is probably not what you want to hear, but I would suggest that you make as strong an offer as you can.  There are possibly other potential buyers out there considering just the same things right now (maybe even reading this Q&amp;A).  I would consider making an offer only slightly under (3% less, for example) where they are asking now, or offer the asking price, and request a "seller's assist" of 3% toward your closing costs.&#13;
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You can also strengthen your offer in how you set up your home inspection contingencies.  Under "option 2" (your REALTOR should explain this to you) you can set a high "deductible."  The higher the deductible you set, the more you show the seller you are willing to take the property, and absorb any neccessary repair costs.  For example, if you have an amount set at $3,000, and the home inspection indicates that only $2,750 are estimated to be needed, you agree to take the property, and assume the full responsibility for the repairs.  If the inspection indicated an estimated $3,600, you agree to pay the first $3,000, and can ask the seller to pay the balance of $600 (or credit you at closing, etc...)&#13;
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You should discuss your offer with your REALTOR, and also with your mortgage loan officer, for specific details of how to improve your chances of getting this home.  Good Luck.  Please let me know if there is anything else I can help you with.</description><pubDate>Mon, 5 Nov 2007 12:56:31 PST</pubDate></item><item><title>Can you help me find a rental house.  We are thinking about relocating but we are not ready to buy yet.</title><link>http://www.trulia.com/voices/Using_Trulia/Can_you_help_me_find_a_rental_house_We_are_think-10870</link><description>Answer by Rich Schiffer: I live in the area around Chester, and as a REALTOR, I can also help you find Rental properties in the area.  For a list of current private rentals in the Chester area, see the web reference below.</description><pubDate>Wed, 24 Oct 2007 14:14:21 PDT</pubDate></item><item><title>is the house 46 elder ave lansdowne pa for sale?</title><link>http://www.trulia.com/voices/Home_Buying/is_the_house_elder_ave_lansdowne_pa_for_sale_-11216</link><description>Answer by Rich Schiffer: 46 Elder Ave is actually in Yeadon, not Lansdowne.  It is not currently listed for sale.  It does appear to have been sold recently, however -- It sold on 1/22/2007 for a recorded sale price of $140,000.</description><pubDate>Wed, 24 Oct 2007 14:09:48 PDT</pubDate></item><item><title>I am thinking of becoming a real estate agent.  After becoming an agent would I be able to save on commissions</title><link>http://www.trulia.com/voices/Home_Selling/I_am_thinking_of_becoming_a_real_estate_agent_Af-10408</link><description>Answer by Rich Schiffer: In many regions it is typical for sellers to not pay commissions to agents acting as a principal in the transaction.  Also, many brokerages policies will not permit an agent to be the listing agent for their own property, as this could create a conflict of interest.&#13;
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Now, there is another thing I have to address here, and forgive me if I sound a bit harsh:  The way you worded your question indicates to me that there are a few things that you may not quite understand about the value of a REALTOR.  &#13;
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If you were to become a REALTOR, the "savings" that you are looking for would be garnered not through your commissions on buying and selling your own home.  The true savings would come from making use of the training you receive -- training on how to properly price a home, training on how to negotiate, and training on how to protect your client (or yourself) from buying into a "bad deal."  This is why on average, a home listed with a REALTOR will net about 17% more on the market than a similar home sold by an unrepresented seller.  A REALTOR serves as a personal advocate, marketing expert, and trained negotiator, (among other things).  If you were to simply get your license to do your own transactions, you would be wasting your time and money.  In addition to the pre-licensing education requirement, testing fees, and licensing fees, there are also the fees to join the local, state, and national association of REALTORS, the fees to use the Multiple Listing Service, and whatever personal marketing expenses you may have.  I don't recommend anyone get into this business unless they actually plan to make a business of it.  You need to consider you will likely incur $5,000 or more in marketing expenses, in your first year alone.  Close to 80% of new agents fail in this business, and do not stay in business more than a year as a result of being unprepared for the reality of it.  You need to actually work, and serve your clients needs in order to succeed.  There is no "get-rich-quick" that you can count on.  I invite you to read the article I referenced, below to get a better idea of the true value of a REALTOR's services.&#13;
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Also, I am not sure what "discouraging" news you are referring to.  Mortgage rates have dropped recently.  Rates for non-conforming loans (sub-prime and Jumbo loans) have been adversely affected by the recent troubles in the mortgage industry, but conforming loans for credit-worthy borrowers are doing quite well.&#13;
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I hope my answer doesn't offend you, but I think you deserve an honest, straight-forward answer, before you potentially lay out your money and spend your time getting your license only to get little if any return on your investment.  Good luck to you, in whatever you decide to do.</description><pubDate>Thu, 4 Oct 2007 03:57:46 PDT</pubDate></item><item><title>What would a twin in Collingdale rent for now?</title><link>http://www.trulia.com/voices/Market_Conditions/What_would_a_twin_in_Collingdale_rent_for_now_-8185</link><description>Answer by Rich Schiffer: To answer your question fully, my first instinct is to ask you a question:  How many bedrooms? But apon actually looking at the data, that became irrelevant.  There are currently only 2 residential rentals lavailable in Collingdale.  Both are 3 BR.  They rents are $1,100 and $1,250.  Now, there may be other rentals available that are not listed, as some landlords choose to market their properties without using a REALTOR.  I only have the statistics on the ones on the Multiple Listing Service.    &#13;
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The Weichert Rental Network (www.WeichertRents.com) can also be very helpful in locating rentals.</description><pubDate>Thu, 4 Oct 2007 03:16:57 PDT</pubDate></item><item><title>How do you find a good agent when you are new to an area?   Hit or miss approach not working.</title><link>http://www.trulia.com/voices/Home_Buying/How_do_you_find_a_good_agent_when_you_are_new_to_a-10377</link><description>Answer by Rich Schiffer: Dear Confused Jan,&#13;
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Finding the right agent for you can be a trying process, but you should be comforted to know that you are already doing one of the things I would recommend.  You are on the internet, looking for a good agent.  There traditional resources (referrals from friends, co-workers, neighbors) that have been mentioned may be useful, but sometimes not.  People tend to work with agents that fit their personal style.  The agent that your friend or neighbor loved working with might be perfect for them, but just not right for you.  Talking to agents in person, at open houses, is a great way to "test the waters" so to speak, but  requires a great deal of your time, (and can burn up gas money pretty quickly).  Online, you can do a search for agents in your area.  I suggest checking out localism.com which is a collection of articles and blogs written by local agents, from all over the country.  Sometimes you can learn all you need to know by the person's writing style, and the way they respond to comments and questions.&#13;
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If you liked working with a particular agent in the past, asking them for a referral to another agent is certainly a good option, which your former agent would greatly appreciate, because the agent they refer you to will likely offer him or her a referral fee.&#13;
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There are also any number of sites that will "help you" find an agent. Directory services, GoogleBase, and sites like Trulia and Zillow or social and business networkin sites like Facebook, and LinkedIn can also be helpful, though you need to take some of what is said on those sites with a grain of salt, so to speak, since the profiles and "featured" positions are often be not much more than self-created propaganda.  For that reason, I think that blogs and published articles will give you a better sense of who the agent is, before you ever actually decide to meet face to face.&#13;
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I hope this was helpful.  Good luck in your search.</description><pubDate>Wed, 3 Oct 2007 16:31:39 PDT</pubDate></item></channel></rss>
