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TheSomersTeamBlog
29Feb/121

“It’s A Buyer’s Market.” True or False?

It's a buyer's market. Is that a true or false statement? Hmm...I would imagine many would say it is true.  So I asked a few people what they thought. See my video clip:

Looks like most people believe that it is TRUE that we are in a buyer's market but I beg to differ and I challenge the popular belief, particularly in my Philadelphia Real Estate Market.

In a video clip I did a few weeks ago, I featured one of my clients as he was looking at trinity homes in Queen Village and Bella Vista. Recently we wrote an offer on one of the properties he viewed. This property was on the market for quite some time and needed a decent amount of home improvements and updating. But just as we worked out an agreeable written offer for the seller, two more offers from other buyers came into the picture! What are the chances? I thought this was a buyer's market!

Well, the chances are clearly better than what most people think. Multiple offers are not a thing of the past in Philadelphia, even in this so-called "buyer's market".  A multiple offer situation will often occur when the subject property is #1- priced right and #2- is located in a highly desired location. These two key criteria when combined create a powerful win-win scenario for a savvy buyer whether they are a first time home buyer, a seasoned home owner or a Real Estate Investor.

I always say to my buyer clients, if you love this home enough to write an offer, someone else probably does, too. Therefore if you are considering writing an offer on a home that is priced right and located right, then be prepared to write a strong and fair offer and do not delay. Timing is often everything.

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23Feb/120

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.

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16Feb/120

Tip Jar: Don’t Believe the Hype!

Today's national headlines read that the home builder market is at an all time high, in fact has doubled since September 2011, and the housing crisis will end this year. The future certainly sounds bright. We are all ready for some good news, right? Let's just keep in mind that there is still a significant amount of foreclosures that are bringing prices down for many communities and appraisals are still coming in low. Thankfully we have historically low interest rates for those who are able to get a loan but there again, getting a loan still remains challenging for so many people who want to buy.

Our tip? Don't believe the hype! 

These headlines are attention getters, I admit, but let's take a step back. The data gathered to fuel these headlines are gathered nationally. That means the info is a collective from all of the states across the U.S. So, the market condition in your area may not reflect the national headline news.

My strong suggestion for you as a consumer, a home buyer, a home seller or just an inquiring mind, is to contact your local real estate expert to get the market statistics in your neck of the woods. Find out about the new construction projects, the foreclosures, and the recent sales data. That information will provide you with the real news.

So don't believe the hype, not until you do a little due diligence in your real estate market!

Public Enemy said it best:

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6Feb/120

Inside a Philadelphia Trinity Home

Philadelphia is home to many Trinity-style houses. We spoke with a client to find out his thoughts on these three-room, three-story homes with those funky spiral staircases. What's your take? Have you ever lived in a trinity? Love it or hate it?

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25Jan/120

What is a Turnkey Property? Stephanie Somers Explains…

Come take a ride with Stephanie Somers and she'll explain what a turnkey property is, along with a peek at a ready-to-rock property for short sale in Northern Liberties.

Any questions? Ask Stephanie!

Related:

Tip Jar: To Sell or To Rent Your Property in 2012? Ask Stephanie!

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19Jan/120

Tip Jar: To Sell or To Rent Your Property in 2012? Ask Stephanie!

To Sell or Rent Your Property in 2012. That is the Question asked by Stephanie Somers.

Stephanie lets us take a peek of how she goes about determining the best strategy for her client. Stephanie is hands on and actually visits a home in Brewerytown.

This property is currently rented. The exterior 3 story home has a lot of original charm but has been greatly neglected as evidenced by the peeling paint and overall facade. After viewing the interior Stephanie explains that this 4 bedroom one bath home with tons of original details needs a lot of work. After going back to the office and crunching the numbers Stephanie comes to a conclusion. Market Value says it may be best for her client to rent the property for another year and reevaluate the market stats next year. Selling the home for a profit may not be possible in this market for this property.

What will you do with your home in 2012? Our tip? Ask Stephanie!

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19Dec/110

Fresh Address: 3563 Joyce Street

 Today's Fresh Address puts us North, in Harrowgate, where Santa and his elves a 2 Bedroom Home awaits at a miraculous price of $49,000.

This is Where It's At: 3563 Joyce Street is located in the Harrowgate section near Port Richmond, close to the shopping centers on Aramingo Avenue.

Come On In:  Enter to a center staircase with a formal living and dining room, and a newer kitchen with tile floor. Good size fenced in cemented rear yard. The basement is full and unfinished. The 2nd floor offers 2 bedrooms and a hall bath that has been updated over the years, white vanity with storage and a tub enclosure style bath and shower combo.

Easy to show. Motivated to sell! Contact the Somers Team for more information!

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18Nov/110

OPEN HOUSE: Sunday 11/20 1-3PM–A Great Weekend to Check Out this Modern Condo

912 N 2nd Street, Unit B - $249,900

Photo Gallery

You won’t want to miss this Open House on Sunday from 1-3PM. Here’s your chance to tour a modern condo with lots of space to pamper yourself and located in an incredible neighborhood.

Here are some of the great features you’ll see on your tour:

African Walnut Hardwoods
A Dream Kitchen with subway tile, maple cabinets, Italian granite and Stainless Steel appliances
Large Guest Room
Huge Master
Lots of Closet Space
Spa Bathroom
Recessed lighting
Balcony
And so much more!

Since Sunday is expected to be a perfect fall day, why not spend some time in this Northern Liberties neighborhood to get a taste of what it will be like to live here. Check out all the hot spots around this home.

Call us TODAY for more details: 215-400-2600 - Ask for Chris or Stephanie Somers

Remax Access - The Somers Team
Chris and Stephanie Somers
Contact Us

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18Nov/110

Is There Spinach in my Teeth?

There is spinach in your teeth.

All of us have peered in the mirror to find spinach in our teeth and ended up wondering "How long has that been there?" or "I wonder why no one told me?" or  worse "I don't even remember eating spinach!"

This simple and seemingly ridiculous fact gets me thinking that there are two types of people in the world. There are those who will tell you that you have spinach in your teeth, or your zipper is down, or there's schmootz on your face, and those who won't.

Those people who won't tell you that you are walking around in this unsightly manner are not bad people. As a matter of fact, often, they are extremely sensitive people who recall having had a similar experience in the past and do not want you to be victim of a similar embarrassment. It is a classic case of "what you don't know won't hurt you".

Then there are those who will boldly but gently pull you aside and tell you, "Hey, dude. Check your teeth" or "XYZ"  the code we used to say in elementary school when your zipper was down, or "You have a little something on your nose".  These folks are bold enough to inform you that you are the unwitting subject of a hygiene mishap. They have your back. They want to spare you the potential embarrassment of walking around all day with your shirt hanging out of your fly.  I admit, I am the one who WILL tell you. It took awhile but I finally convinced Chris after five years of marriage, that it was okay to tell me I have food in my teeth. (Thanks, Chris!)

Okay. So let's turn this around and apply this strange theory to Real Estate. There are only two types of Listing Agents in the world. There are those that will boldly inform you that your home needs to be de-cluttered, or staged or priced lower in order to sell. In essence, those are probably the Realtors that would also tell you that you have spinach in your teeth. And then are the other Listing Agents that will just smile, yes you to death, and avoid the tough conversations that are required to get a client's home to sell. I would be so bold to generalize that these same Realtors would just as soon let you wander around with your zipper down.

Which kind of person are you?

Should I tell you you have spinach in your teeth or should I hold my tongue because using the words of Jack Nicholson "You can't handle the truth"?

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17Nov/110

Energy Bills to Drop 10.6%

We're buzzed to see that Peco Energy Co.'s residential supply charge will decrease 10.6 percent starting January 1. According to Philly.com, "its price for most residential customers would decrease from 11.14 cents per kilowatt hour to 9.96 cents. For a customer using 500 kilowatt hours, the monthly savings would amount to $5.90."

Not huge, but we'll take it!  Why the change?  The charge is adjusted according to market conditions.  The article also warns that the decrease is not entirely good news, as it will impact customers who already have a discounted rate. These customers are free to switch to an alternative supplier.

One of our favorite ways to save on energy bills this winter, that also increases value to your home?

Replace old fixtures, systems, bulbs and appliances with Energy Star rated versions.

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Phone: 215.253.6818