Archive for the 'Buyers' Category
Foreclosure Vandalism
July 31st, 2008 categories: Buyers, Investors, Sellers
You’ve seen or heard stories of angry homeowners who, when dealing with foreclosure, trash their house before leaving. Some spray paint the walls or siding. Others break every window with a baseball bat. Sometimes homeowners turn on all the water faucets and plug up the drains before departing.
These homeowners, angry at the bank for foreclosing, think it’s somehow permissible to turn the home into a total nightmare. They don’t stop to think about the consequences for the next set of first-time home buyers who have pinched, saved and worked hard to qualify to buy a bank-owned home priced at the bottom of the market, in “as-is” condition.
Desperate homeowners also strip assets from their house. These fixtures are not personal property, which mean they should stay with the house. The following items should not be removed from a home that is in foreclosure:
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Cabinets and counter tops
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Appliances such as stoves, built-in microwaves, dishwashers, etc.
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Furnaces and air conditioning units
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Plumbing and copper pipes
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Romex or other electrical wiring
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Light fixtures and ceiling fans
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Doors and hardware
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Flooring, ceilings and walls
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Windows and vents
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Medicine cabinets, sinks, tubs, toilets and showers
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Sink drains and faucets
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Built-in shelving / bookcases
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Landscaping, fencing, built-in pools and spas
People who vandalize a home they are losing through foreclosure are not harming the bank by their illegal actions. They are harming innocent home buyers who, just like they once were, are hoping to achieve the dream of home ownership.
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Pittsburgh: A Best City for Young Professionals
July 17th, 2008 categories: Buyers
There are many reasons why Pittsburgh is one of the best places to live for young professionals (or anyone, if you ask me). It has low crime rates, affordable housing options, and look at all of the great activities the city has to offer. But don’t just take my word for it…
Earlier this month, Forbes ranked the country’s 40 biggest metros on economic opportunity for up-and-coming young professionals to gauge which cities are attracting the next generation of top business talent. Pittsburgh came in at #13!
Strong performing companies like Allegheny Technologies, Ansoft and Consol Energy have helped lift Pittsburgh’s post-industrial economy and gave the city a No. 2 ranking in its concentration of top firms from our 400 best big companies and 200 best small companies lists.
Take a look at the Forbes article for an explanation of its methodology and the complete list of city rankings.
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Frustrated First-Time Home Buyers: Avoid These 3 Mistakes
July 3rd, 2008 categories: Buyers
Looking for your first home is a new experience, so of course you’re going to make mistakes (maybe even lots of them!). House hunting can be fun, but here are 3 of the most common mistakes that will surely kill your enthusiasm and make your search seem like it will never end:
#1 - Searching for the perfect house 
There is no such thing as the perfect house. Every home you look at will have its positives and negatives. Often homebuyers think that, if they search long enough, the perfect property will come along. There are always things that people change to make a house a home. You need to look past how it currently looks and see the home as it can become. It is what you make of it that makes it perfect.
#2 - Having a scope that’s too wide
Too many choices can be confusing. You really need to narrow your search to 2 or 3 communities and not drive all around the city. That may seem too difficult but, if you do enough research into the neighborhoods, you should be able to see which areas stand out based on your priorities. With so many homes to look at, too much choice can overwhelm a first-time homebuyer.
#3 - Making an offer that’s way too low
Don’t get sidetracked by how big of a discount you can get. Buyers should understand that home sellers are often emotional about their homes. They’re not automatically turning up their noses at lower offers but, if you really want the house, a very low initial offer may irritate the sellers to the point that they won’t consider a better offer, if you decide to submit one. Then you need to move on and your search continues…
So steer clear of these three mistakes, and you could actually enjoy your home shopping and buying experience!
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Pittsburgh Recognized as a Real Estate Best Bargain
June 27th, 2008 categories: Buyers
It’s no surprise to those of us living here, but Pittsburgh has been recognized as a Real Estate Most-Livable Bargain Market. This is based on MSN Real Estate’s 2008 list of the nine best, livable cities where you won’t need to trade the good life for the boring.
Pittsburgh has shaken off its steel-town image to be an attractive and desirable location for families and retirees. In addition to housing many major corporations, it is home to Duquesne and Carnegie Mellon universities. The employment picture is solid, but not as robust as some of the other picks on this list.
It’s easy to afford a home here and there are more than 90 recognized neighborhoods to choose from, each with a unique identity and personality. Steep hills rise on all sides of town, with some of these neighborhoods accessed by a19-century incline tram from the central city. The population is ethnically diverse and the downtown area is vibrant, with nightlife along the river and plenty of places to shop. The area is well-known for its sports, education and cultural amenities. Pittsburgh has major-league teams in football (Steelers), hockey (Penguins) and baseball (Pirates). Fan support and interest is legendary.
Overall, Pittsburgh is a solid place, locals say, rooted in traditional values.
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Popularity of Peters Township
June 16th, 2008 categories: Buyers, New Developments, Peters Township
For those of you who don’t live in Peters Township but are considering a move there, you may want to take a look at the article “Peters Housing Market Stays Strong“ which appeared in Peters Township Magazine. It was written last year but highlights several of the community’s strengths that are still relevant for potential home buyers today.
New developments – some featuring custom-built, single-family homes, others boasting townhouses and quad units – dot the landscape. As the community grows, township planners are trying to maintain the rural character of the 19.5-square mile area by preserving its green spaces, wetlands and woodlands.
Luring buyers away from Allegheny County are the country charm of Peters Township, its close proximity to downtown Pittsburgh (it’s located just 15 miles outside of the city) and Washington County’s low taxes.
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Don’t Waste Time Filling Your Gas Tank
June 11th, 2008 categories: Buyers
Many people spend their Saturdays driving around, hoping to come upon a house for sale that will fit their needs and desires, thinking it’s a great way to get to know the neighborhoods and what the market is like.
But it just leads to confusion, lots of questions and a waste of precious gas and time. More than likely, the perfect house is the same one lots of people are looking for and, by the time you find it and contact the agent to arrange a viewing, someone may have beaten you to it.
Please — ask a Realtor for help finding a home. If you’re seriously looking, it just saves you a LOT of time from circling neighborhoods.
Here are some of the advantages of contacting a real estate agent first:
- It’s a great way to find out if the Realtor is committed to doing whatever it takes to find you the ideal home.
- An agent will direct you to the price range of homes that will fit your pocketbook. He/she may even suggest you visit some open houses but will keep you from wasting your time on areas you don’t want to move into.
- When you do visit an open house you can use the phase “I’m already working with an agent” that will let you off the listing agent’s hook.
- If something really juicy hits the market, your agent will get you there first.
- If you’re honest with your agent, let them know you’re just looking and not ready to purchase yet, they will keep in touch and get to know your likes and dislikes. By the time you are ready to buy, that agent, if they are worth their commission, will be in tune with you and will direct you to the homes that best fit your needs.
- It doesn’t cost you anthing but your commitment to work with them. You’ll receive many hours of professional guidance which you will not pay a penny for — until and unless they can accomplish your goals.
And that’s just for starters. Once you’re ready to enter into negotiations, you will know your agent well enough to know he/she is on your side and promoting your best interest.
Sure, buying a home will have its share of stress and surprises, but having a guide, consultant and trusted advisor working for you from day 1 will save you from spending your Saturdays driving around the suburbs.
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Downtown Living - You Can Afford It
May 19th, 2008 categories: Buyers, Downtown Living
In case you missed it, the Pop City archives feature an interesting article “Downtown Living - More Affordable Than You Think.”
You’re reading more and more news stories about the trend of people living Downtown, both locally and nationally. You’re hearing about cool new places to live in Downtown Pittsburgh, like the Granite Building, 151 First Side, 930 Penn Avenue, the Carlyle and Piatt Place. And maybe you’re saying to yourself, “I wish I could live Downtown, but I can’t afford to live in the City.”
Think again. Living in Downtown Pittsburgh is not only less expensive than you might think, but you might actually save money (not to mention time) by making the move.
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On-line Shopping for Real Estate
May 16th, 2008 categories: Buyers, Sellers
We all do it with clothing and electronics; some people even purchase vehicles on-line, but real estate?
It’s a great age we live in - the age of technology. Ebay and other on-line retailers have made shopping on a computer virtually effortless. So you purchase a $50 shirt on-line, maybe even a $700 computer, but a $150,000 home? Understand, I realize you are not purchasing homes on-line (although it does happen on eBay), but you ARE eliminating good homes based on pictures and descriptions you are viewing on-line. It’s a bad idea, and here’s why:
Back in the day, homes for sale weren’t available for viewing on-line. Agents will tell you they used to get books weekly with interior specs and black and white exterior photos of homes for sale - black and white, I know, can you believe it? In turn, buyers would do a drive by of the home and be forced to look at the number of rooms and room sizes on the sheet they were provided by their agent - nice color interior pictures weren’t an option. Agents will be the first to admit that on-line home shopping has made their lives easier and it definitely has. What I’m not sure of is the true impact it’s had on the buyer.
Let’s face it, some real estate agents are horrible photographers (just check out my worst MLS photos). Unfortunately for sellers, once a potential buyer views a not-so-good picture of their home it’s immediately thrown on the chopping block. At the same time, many agents are excellent photographers and can make a crappy little house look like a palace. How many times have you seen, let’s say, a sweater on eBay that looked beautiful and you just had to have it. You know where I’m going with this right? Your package comes and the sweater is something you wouldn’t let your dog sleep on! The same goes for real estate. Not that you would see a house on-line and make an offer sight unseen, but I can’t tell you how many clients call me and say ‘I just saw this house on-line I have to have, it’s perfect’. To be let down when we get there, as it isn’t nearly as perfect as it appeared in the photos. At the same time, a lot of times buyers immediately rule out properties due to really bad photos.
Not only are some agents bad photographers, some are also bad at selling a property. By ’selling’ I mean describing the positive features of a home. The one thing they do get right? Room dimensions. When looking at homes on-line, don’t just check out the photos, check out the room sizes. If you’re not good at visualizing room sizes, measure out the size of the rooms compared to room sizes where you are currently living.
One of my recent buyers was adamant about not looking at a house I thought would be perfect for her and her family. She told me she saw it on-line and didn’t like it (it was also on the market for a while because it was overpriced to start out - check out my article “Selling Your Home in Today’s Real Estate Market“). I literally forced her to see this house. We walked in and she instantly fell in love! She began raving about the room sizes and number of bathrooms. I asked her if she even read the info sheet I emailed to her - no, she just looked at the pictures.
Do yourself a favor and look at ALL of the information you’re given. In addition to seeing some ugly pictures, you may be pleasantly surprised with what you will find.
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New Spot in Peters for Parched House Hunters
May 14th, 2008 categories: Buyers, New Developments, Peters Township
After spending all day with your real estate agent looking at houses, you get pretty thirsty, right? Well, if one of the communities you’re visiting is Peters Township, then you should take a break at a new pub in the area.
The Sharp Edge Brasserie, just off Route 19 on Gallery Drive (near Raddichio’s grocery store), is the fourth and largest Sharp Edge location. They claim to be “The Best Belgian Beer Bar in the USA” and its list of beer is pretty impressive.
So go ahead and quench your thirst so you can get back to finding your new home!
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Foreclosures Are for the Birds (Or Not)
May 12th, 2008 categories: Buyers, Investors
In the WSJ Real Estate Journal, there’s an eye-opening article called “Overwhelmed Homeowners Foreclose on Fido.” It’s heart-breaking to hear that people are leaving their pets behind in the house or backyard when they vacate their foreclosed property.
“Call it reckless abandonment. Shelters and animal rescue organizations across the country are packed cage-to-cage with dogs and cats, even birds and reptiles, that have been ditched or dropped off as scores of foreclosed-upon homeowners relocate. It is a disturbing trend and a sign of the tough economic times that has prompted a number of organizations to form hotlines for pet foster homes and to implore pet owners — or what the industry calls “pet parents” — to seek help for their animals before they head off.”
If you want to help, consider adopting a pet and then visit 1-800-Save-A-Pet.com to search their online database of available cats and dogs.
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