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February 2012

February 17, 2012

A Brief Outline on Home Mortgage Loans

Filed under: For Buyers,Of Interest to Buyers — Center City Philadelphia Real Estate Agent @ 2:00 pm

Mortgages play very crucial role in the economy. The importance of the mortgage industry was realized during the last economic crisis that the country had faced. Rising number of mortgage loans default cases were reported and housing prices plunged to very low levels. This led to the crash in the real estate market in the economy. The negative effects of the crash in the real estate market were percolated to the other sectors of the economy soon. Eventually, the country, as a whole, went into recession. Anyways, in the aftermath of the global financial crisis, the mortgage lenders have become more cautious and they are keeping in more stringent eligibility criteria for obtaining a home mortgage loan. In other words, they are checking the credit worthiness of the borrowers like never before.

Anyway, before taking out a mortgage loan, you must conduct a thorough research about different mortgage loans and rates available at the market place. After examining the different mortgage loans, you will be able to find the most suitable mortgage loan. In other words, the home mortgage loan that you have taken out, must be very affordable to you. In order to find out your affordability, you can also take the help of a mortgage calculator. A mortgage calculator calculates your affordable mortgage payment amount. Anyways, if you face difficulty in repaying your original mortgage loan, you can opt for home mortgage refinancing too.

A mortgage refinance replaces the original mortgage loan with a new one which is affordable to you. In other words, the aim of mortgage refinancing is to help the borrowers pay off their mortgage loans. This can be done through by lowering down the monthly mortgage payment amount or by raising the term of a mortgage. If you want to pay off your mortgage loan earlier before the scheduled time, then also you can opt for mortgage refinancing. Mortgage refinancing can lower down the term of the mortgage loan but at the cost of increased monthly mortgage payment.

Again, if you want to switch to the safety of a fixed rat mortgage from that of an adjustable rate mortgage, then also, you can opt for mortgage refinancing.

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February 8, 2012

Four Lighting Tips To Help Sell Your Condo

Filed under: For Sellers,General Real Estate,Of Interest To Sellers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 3:06 pm

When you’re trying to make your space more alluring to potential buyers, it’s all about presentation.

Most people know that. Before a showing, they make sure the place is picked up, cart out extraneous furniture and, take out the trash. But what about the lighting?

Lighting is the one thing that can give your condo a warm, inviting atmosphere. Follow the tips below, and you’ll have buyers making offers:

-Use the sun to your advantage. Natural light is an incredibly attractive feature, so use what you’ve got. Trim any outdoor plants that are blocking that sun from streaming in, take down bulky window treatments, and move furniture away from the windows.

-Layers are key. The basics of lighting design involve incorporating at least three “layers” of light in each room. One layer is general lighting – you get that with ceiling fixtures. One is task lighting – that includes your floor/desk lamps and any focused lights such as under cabinet fixtures or desk lamps. One is accent lighting – that’s what will really highlight your decor and bring in the majestic feel. One of the most popular forms of accent lighting is indirect cove lighting via LED light strips installed in a recessed portion of the ceiling.

-Be critical. When you’re selling a condo (this especially applies if you’ve lived in it for years), you have to put yourself in a stranger’s shoes. If you were seeing the place for the first time, what would you think of the light fixtures? It’s easy to accumulate outdated light fixtures and forget to judge them with a discerning eye. Replace any tacky light fixtures with a more contemporary style.

-Go green. Sustainability is such a selling point for potential buyers. They want to hear they won’t get slapped with a huge power bill after move-in. They don’t want to go to the trouble of replacing inefficient light bulbs you installed. If possible, replace light bulbs with low-energy models. You can add it on to the list of benefits you tout to the buyer.

Emily Widle
E-Commerce Marketing Specialist
Pegasus Lighting
P 724.846.5137 x 102
F 724.846.8833
“Unique Lighting Products for Your Special Needs”

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February 3, 2012

Top Signs You are Possibly Dealing with a Desperate Seller:

Filed under: For Buyers,Of Interest to Buyers,Real Estate: Condominiums — Center City Philadelphia Real Estate Agent @ 1:33 pm

1) You see that the condo is vacant, and the front desk tells you they moved
over a year ago.

2) You Google the sellers, and You see that they own multiple properties,
and all of them are for sale.

3) You search the history (in the MLS) of that listing, and see the seller is on
their third listing agent.

4) You walk into the condo, it is vacant, the appliances are gone, and it looks
like the seller left in the middle of the night.

5) You read some unique language in the MLS listing about “seller makes no
warranties”, or “ corporate addendum must accompany…” usually means
corporate owned- aka REO.

These are all possible signs that the condo is ripe for an insulting offer.

Good Luck!

Mark Wade
Berkshire Hathaway Home Services Fox and Roach Realtors
530 Walnut St. #260 Phila., PA 19106

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