Tip Jar: Go with the Flow
Below is a before photo of a beautiful home we have listed at 1015 N 4th Street in Northern Liberties (only $359,900, BTW!). When we first visited this home, the layout had tons of potential but the way the furniture was positioned it really cluttered the space and did not show off the Open Flowing Layout people have come to love these days. As you see in the before photo below, the couch blocks off the dining area. Although this method of dividing rooms can translate very effectively in a huge oversized room, for the narrower rowhome so prevalent in Philadelphia, this method can backfire and give the illusion of a smaller space.
The current popular trend in home design in Philadelphia is for the main living spaces (kitchen living and dining areas) to flow together seamlessly. So we made some suggestions and the transformation was immediate. Below is the after photo. Notice how the room looks bigger, less cluttered and the Open Flowing Layout has been achieved by simply moving the couch that served as a room divider, out of the living room altogether.
To create a separation between rooms that will not effect the Open Flowing Layout that people are looking for, try these 3 tips:
1) One large piece of art or a large mirror on the wall can define a space and create a focal point for a room without taking up floor space.
2) A neutral colored floor rug that blends with the flooring can define a space without blocking the walking path or drawing too much attention through color to one area of the room.
3) Creatively placed soffets, chandeliers, and lighting can serve as an absolutely brilliant room divider without being at eye level or on the floor. This is my personal favorite solution.
Do you think you can implement these ideas into your home to improve flow? Have you done other things to create the same results in your space? I'd love to know.
Tip Jar: How to Avoid a Crappy Situation When Selling Your Home
We primp them. We pamper them. We dress them in costumes. We name them cute names like Zippy, Cinnamon, and Thurston Howell the Third. We walk them in all sorts of weather. We train them to do clever tricks. We get dates because of them and we will break up relationships over them. They are our dogs and we love them. But in Real Estate, man’s best friend can become Realtor’s worst enemy.
Here are a few examples of "Crappy" situations and ways to avoid them when trying to sell your home:
This photo is of a yard filled with “land mines” strategically placed by you know who, Fido!
Tip: Clean up the doggie remnants in the yard or hire someone to to do it for you. No one wants to play dodge the doodie during their showing of your beautiful home.
Last week I showed a beautiful Fishtown home but the topic of conversation was not about what price the buyer should offer, it was about who could identify the smell? Was it a cat, a dog, a ferret...? I said Sasquatch. It really stunk!
Tip: Animals smell. No offense folks, but they drool, they have accidents, even their food leaves behind a noxious odor. Somehow it is undetectable to the pet owner but believe me, the rest of us smell it! Ozium, Lysol, or any organic deodorizer works wonders when used consistently where your precious has made a mess. Smells can and will kill a deal from being made on your home.
Philadelphia, especially Northern Liberties, is a dog-loving neighborhood. There may be 50/50 split of people to pets! But with ratios like that, the old saying rings true, dogs are better to be seen than heard. Last week after playing what’s that smell (see #2 above) we toured a lovely home. We all peered out of the kitchen window to observe the garden that looked like it was a picture cut from Better Homes & Gardens...until we stepped outside to be met by CUJO. Holy crap...we ran for the front door never to return again!
Tip: There are actually sound ordinances, as well as a bunch of rules that pets and their owners must follow. Nuisances such as noise and droppings are topics of big discussion in Philadelphia and there are rules and fines for pets that behave badly. A tall fence makes good neighbors and in this case a discussion with the neighbor might go a long way in keeping CUJO from scaring off potential buyers.
Tip Jar: Be Flexible When it Comes to Settlement!
There are a lot of moving parts in a real estate transaction. That is why our Tip Jar for today reminds you to remain flexible when it comes to planning your settlement date when you buy or sell a home.
We see many delays in settlements these days for a number of reasons (which is another topic in altogether). Buyers and sellers should not make plans written in stone. Our suggestion for consumers is to avoid scheduling trips, important business meetings, and movers on the day of settlement. Leave yourself a few days of flexibility in case your settlement is delayed by an hour, a day, or even a week. If you are selling your home and buying a home with the proceeds the very same day, make provisions with all parties involved so a delay in one settlement will not have a detrimental impact on all of the "tie-in settlements" happening.
Like I said, there are many moving parts to a Real Estate and Mortgage Transaction. If you are considering buying or selling a home, use a Realtor and a Mortgage professional that has handled many transactions. Experience comes with time and hands-on experience. Be flexible!
Tip Jar: Visit the Reading Terminal Market
If you're standing at 11th and Filbert Streets in Center City Philadelphia, you might wonder where is everyone going? Well, I'll tell you where. They are all going to the Reading Terminal Market! If you have not been there yet or have not checked it out in a while, our tip to you is to visit it! The Reading Terminal is filled with all sorts of delights from baked goods made by Amish artisans, handmade chocolates, fresh and colorful produce, fine cheeses, meats, and fresh fish. Or just stop in for lunch like I did and enjoy a number of eating spots to enjoy Philly cheese steaks, deli specialties, Chinese, Italian food, etc. We had an amazing Mediterranean plate that was just out of this world. Admittedly, finding a seat at lunchtime will be a challenge but well worth the experience. If you are a people watcher, you will be in your glory. Don't wait another minute. Come check out Philly's finest indoor market today. Oh, and you might want to start that diet tomorrow.
Tip Jar: 3 Tips to Avoid Renter Faux Pas
We have been doing a lot of rentals lately since the demand for rentals is quite high in Philadelphia. Many sellers who could not sell their home last winter for the price they needed or wanted are now renting their home for a year or two in hopes that the value of their property will be higher.
I have noticed a few Renter Faux Pas that I'd like to share with you in hopes that it may make your experience looking for a rental property more rewarding and stress-free for you.
Don't be cheap
1) Trying to negotiate your rental price down on a "hot property" is a renter faux pas. In this competitive rental market, you will risk losing that perfect unit by trying to negotiate the rental price down on a great property especially if it just hit the market. Your slick bargaining technique will sabotage your chances of wrapping up that room with a view.
Don't come empty-handed
2) Not being prepared with your application package is a renter faux pas. If you love the apartment or house, someone else probably does too. So be the first application in. Be prepared in advance to move on that rental with a full rental package ready to go including:
a) photo id,
b) proof of income,
c) proof of savings for the deposits needed,
d) deposit check,
e) and if possible, have your credit pulled in advance (otherwise come prepared to pay for processing)
Wrap up that rental before anyone else does. The faster you move the more likely you will land that "hot property".
Don't wing it
3) Running several different agencies' realtors around to show you properties is a renter faux pas. Renters deserve a qualified realtor to represent and assist them in finding the right rental property and work out the logistics when it comes to renting a property. Your realtor will get to know your needs, they will qualify you as a renter and advise ways to overcome less than perfect credit, they will review the rental contract with you, and will have your back should you need advice during your tenancy.
Tip Jar: Spring Cleanup Time!
Walking to the office this mild and sunny day, I was inspired to write my seasonal Tip Jar tip...clean it up for Spring!
With the windy days in Philadelphia, trash is blowing everywhere. In this video I remind homeowners and landlords to clean up their stoops and front walk area. With the warmer weather, a Spring Cleanup can really be a weekly event that you can incorporate into your weekly chores. Some folks in the Northern Liberties neighborhood do a great job keeping their street and front stoops clean. On the 800 Block on N Hancock, for example, the local neighbors have even created several flower boxes around unattractive areas like phone poles of which they will enjoy and tent all the way through the fall months.
Cleaning up may not be a lot of fun but it sure does create a really nice sense of community. Do your part this Spring and join the rest of Philadelphia and celebrate the 5th annual Spring Cleanup Day. For more information check out this website: http://www.phillycleanup.com.
Tip Jar: FHA is Wack the Sequel: CASH IS KING
In a previous video blog, FHA is WACK, Stephanie discussed how HUD, last year in 2011 decided that they would cut seller's assist for the FHA loan product and what that means to first time home buyers. In this video the discussion is about what this in seller's assist means for sellers. To summarize Stephanie's thoughts, she believes the buyer pool will become smaller since many of the first time buyers will not be able to afford their closing costs.
Sellers will need to become significantly more flexible on home prices if they want to sell, and sellers may need to become comfortable with the reality that their home may sit on the market for a longer period of time. Sellers may also need to consider staying in their home for another year or so or even rent their home depending on their circumstance.
***FHA is a First Time Home Buyer loan where the buyer only needs 3.5% of the loan for the down payment and they are eligible for 6% "seller's assist". Seller's Assist in essence is when a Buyer rolls all or part of their closing costs into their loan. Seller's assist is a real life line for those buyers who just do not have the liquidity to pay for both a down payment and their closing costs. This reduction of allowable seller's assist had not yet been implemented when this video blog was recorded.***
Tip Jar: 3 Tips You Can Bank On
Today's tips are from our own Chris Somers during his training session on sales and motivation at Remax Access in Northern Liberties this week.

Phone: 215.253.6818


