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A List to Create for Potential Buyers

Monday, November 23, 2020
by Scott Darling


Selling a house usually involves so many things, decluttering, deep cleans, moving belongings to storage, and many more tasks. Once the big jobs are done, and the For-Sale sign is staked out, sit back, and put yourself in the shoes of a prospective buyer. Some questions cannot be answered in photos and home description, so why not jot a few things down to make it easier for someone who would like to buy your property?  

 

Best in the Neighborhood Provide addresses, phone number, and emails for the “best of” the community: 

  • - pizza, veggie burgers, coffee shop, or other places to eat 

  • - nearest parks and recreational areas; include neighborhood sports organizations for children 

  • - lawnmower or auto repair, neighborhood teen that mows grass, local handyman, tree service 

  • - HVAC repair, plumber, electrician, pool care,  

  • - banks, dry cleaners, salon, and barbershop 

 

Necessities List the companies in your area that provide the following services: 

  • - electricity, cable, satellite, internet, phone providers, heating fuel 

  • - sanitation pick up, local municipality office, water/sewage, emergency management, health department 

 

Work Performed on Property 

  • - additions, renovations, foundation repair, painting, floor work, roof repairs, snaked/cleared drains 

  • - plumbing, electric, septic/sewer, water pump, well water testing, ductwork repair/cleaning, added insulation, HVAC service 

  • - Cleaned gutters, window/door repair/replacement, tree work, lawn care, garage door opener  
     

Utility Information List average cost of monthly expenses, as buyers sometimes are  curious about them: 

  • - Electric, water, phone/internet, cable/satellite, landscaping/pool care, waste removal/recycling, heating fuel 

 

Finally, create a list of the fun things that happen in and around your community! Share information about local festivals, any farmers’ markets, the annual neighborhood cook-out--anything you would think useful to someone new to the area. Creating these lists may not be necessary, but the information will be ready in case a potential buyer asks. You can never make too much effort to sell your home. 

 

Courtesy of Chester County PA Realtor Scott Darling.

 

Photo credit: wordpress.com

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Chester County PA Real Estate Market Trends for October 2020

Wednesday, November 18, 2020
by Scott Darling

Chester County PA Real Estate Market Trends for October 2020

Chester County PA single-family homes saw pending sales increase by 24.5% in October 2020 when compared to October 2019. 757 homes sold in October with a median sales price of $395,000.  The average days on the market fell by 16 days. 

If you are thinking about selling your home get a free instant home evaluation Learn More. 

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Build vs. Buy

Wednesday, November 11, 2020
by Scott Darling

It is time for a new home, but there is a dilemma:  a new neighborhood is in development in an area you love, and the model home is calling to you! On that same note, in an older, established community, you see several houses that would be a great fit for your family. Should you buy an already-built, older home, or go with the brand-new construction, tailor-made for you? Let this guide help you make that decision: 

 

  • Buy: Buying an existing property isn’t an instant process, but it does not take long to get pre-approved for a mortgage, go house hunting and find the house you love, close on the deal, and move in.  
     

  • Build: According to the latest research from the US Census, new construction takes an average of seven months from planning to moving in.   
     

  • Buy: Negotiating is key to many home purchases and if a house needs some work or repairs, the seller usually makes exceptions and changes to reflect reasonable inspection findings. 
     

  • Build: Model homes will be shown with upgrades that can add thousands to the base selling price.  Customizing your dream home, however, cannot have a price tag. 
     

  • Buy:  What you want in landscaping, such as trees, a garden, or an established lawn, are ready for you to enjoy. Personalizing it with your favorite plantings will cost much less than starting a new lawn and landscaping. 
     

  • Build:  You may see a brand-new yard as a canvas and plan your own landscaping design.  Where you want trees or outdoor structures are all according to your imagination--the possibilities are almost endless! 
     

  • Buy:  An earnest money deposit generally starts at 1% of the price of the home.  Closing costs can sometimes be part of the sale negotiations, but not always. 
     

  • Build: Many builders prefer an earnest money deposit to be at least 5% of the sale price and closing costs do not vary as much unless the builder is offering to cover those costs as a purchase incentive. Just ask--you might receive!  
     

  • Buy:  Buying an older home may require some work to update wall colors/coverings flooring or fixtures.  Keep in mind that if any of those jobs can be DIY, costs will be significantly lower, and can be done when you have the extra money in the budget. 
     

  • Build:  A new build may not always be maintenance-free. Whether you are considering a new development or building on your own land, contact owners of the builders’ completed homes and make certain you will be paying for a quality home without new construction issues. 

 

What matters most in the end is your happiness with your new home!  The best thing you can do, however, is contact a RealtorⓇ to represent you as a buyer!  The agent in a builder’s office is there as a service to the builder/seller. Finding a buyer agent is key to helping you decide what is best for you, your family, and your budget! 

 

Courtesy of Chester County PA Realtor Scott Darling.

 

Photo credit: Raj Architects

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Tax Benefits of Homeownership

Friday, November 6, 2020
by Scott Darling

When listing pros of owning a home in comparison to renting one, many think of things like lower monthly payments for the roof over their heads, the freedom to renovate or simply paint as they desire, or the opportunity to finally have a garden of their dreams. Tax benefits, however, are not something many consider; learn about some of the main tax-related advantages homeownership can bring: 
 

  • Tax deduction on mortgage interest:  when a homeowner’s mortgage is no greater than $750,000, the interest on that mortgage is tax-deductible. 

  • - In 2017, the IRS made changes to this deduction, reducing the mortgage limit. If your mortgage was taken out before December 2017 and is $1 million or less, this deduction applies to your situation as well. 

  • - Having a home equity line of credit (HELOC) that meets the above standards will receive the interest tax credit as well. 

  • - In case a homeowner has two mortgages that are each less than the $750,000 limit, but the total of those mortgages exceeds the limit, not all interest is deductible.  Learn more from the IRS Newsroom. 


  • When the home was purchased, were mortgage points used as part of the loan transaction? This may qualify for a tax credit. Use this handy worksheet from the IRS to determine eligibility. 
     

  • Many have used their homes for office space this past year, but not everyone qualifies for a home office tax credit.  Those who are independent contractors or self-employed are the only taxpayers allowed this credit. 
     

  • Your lender is required to include property taxes paid on the 1098 form they send at tax time.  Property taxes paid up to $10,000 are eligible for a tax deduction. 
     

  • If you are paying private mortgage insurance (PMI), the law to receive a tax credit for this has been reinstated as well as being retroactive. House Logic has more information about the changes and benefits. 
     

 

Do not miss out on these tax deductions!  Normally, hiring a professional tax preparer will get the most benefits for you if you give them all the necessary paperwork.  Keep in mind that using an online tax prep service will ask homeowner-related questions as you work through your return, and self-tax prep is generally less expensive, depending on the software company you choose.   

 

Courtesy of Chester County PA Realtor Scott Darling.

 

Photo credit: LA Property Solutions

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