Ask The Realtor!

I want to purchase a home but I am afraid that value will not be there when I am about to sell.  Are there indications that the market will have a return in a few years?

There are never any promises in Real Estate especially when it comes to value during a certain time frame.  However if you have been searching for a home, you probably noticed that prices are increasing in certain areas.  You also have probably noticed that homes are going under contract quickly and more than a few have had multiple offers.  This would indicate that we are moving into a Seller's Market and due to the demand for housing and the number of buyers looking to purchase.   

But let’s look at things another way.  No matter where you live, whether you rent or purchase, you will be paying something monthly to someone.  You will either be paying your own mortgage or the landlords mortgage.  If you rent it is definite that you will not receive any of the monies you have paid over a period of time to the landlord back.  That is 100%.  If you purchase there is a chance that you will not only gain back all the monies you have paid to live there but also have a profit. 

The prices of the homes are still affordable at this time and the rates are very low.  Many times you can purchase a home and have the same mortgage payments as you would if you were renting.  My advice would be to purchase a home and make it your own.  The market is straightening itself out, it always has and it more than likely always will.

Do I have to have a home inspection completed on a property I am purchasing to obtain a mortgage?

The short answer is no you do not.  However if you are purchasing with VA, FHA or USDA financing chances are they will want you to have a termite inspection completed.  If the property is on a Well they will probably also want you to have a water test completed. 

With that said it’s always a good idea to have a home inspection completed if for nothing else but to get to know the house and its components and how they each work.  It’s a good learning experience especially for a house you are going to live in.  It is well worth the money if you find a good home inspector who will be thorough and take the time to walk you through all aspects of the house.  Find a home inspector who has experience with the type of house you are purchasing and who you feel comfortable with.  You should be able to ask questions without feeling you are “bothering” the inspector and they should freely and happily provide you with the answers.  They should also be able to provide you with the home inspection report prior to leaving the house with photos included.

My house has not been shown in 2 weeks.  I’ve done everything my Realtor has suggested, yet still no interest.  I understand that 2 weeks is not a long period but the concern is still there.  Is there anything else that can help with showings?

I’ve never seen your home therefore I’m not sure if there are other things that you could do to draw more attention to your home.  Showings tend to be a bit slow at this time due to buyers are taking vacations, preparing for kids to go to school and just relaxing.  It has been pretty consistent this year however.

A few things that might help, if not already being done, put colorful brochures with photos at the For Sale Sign.  Not the MLS sheet, but a professional brochure providing potential buyers with information regarding your home.  You can also be sure that the house is lit up in the evening to bring potential buyers attention to the house.  Make sure the curb appeal is bright and colorful.  Re-evaluate your list price with your Realtor and be sure it is in line with the comparables.

The right buyer will come along. Remember it only takes one.

Jennifer Daywalt, Realtor
RE/MAX Results Realty- Collegeville, PA
Licensed in PA
Phoenixville's Home Town Realtor
Top Realtor 2004-2011
www.JenniferDaywalt.remax.com
Author of "Ask The Realtor" on www.PhoenixvillePatch.com
RE Blogger for The Phoenixville Patch
610-489-7355 Main - 610-999-7693 Direct