I get this question over and over again all the time. How is the Real Estate Market?
Well, that has a complicated answer. I have to say it all depends if you are a Seller or a Buyer! If you are a Seller...I'd have to say, "It could be better!" If you are a Buyer...I'd have to say "AWESOME!"
It's very difficult for me to utter even a sprinkle of negativity to anyone. But my job as a true professional is to be brutally honest, ethical and direct. Sellers need to get real! What happened or sold in your neigborhood years ago...does not apply. Even if your neighbor sold within the last 6 months...you better hold your breath! The reason I say this is because of the appraisal.
More than likely, a buyer who purchases your home, will need a mortgage. Let's face it...the bank is bringing all the bucks to the table! They want to make sure there is value! The mortgage company will send out an appraiser to do an appraisal on the property. He/She will use recents comps that sold in the neighborhood within the last 3 months! If there are no comps, the appraiser will err on caution. It's that simple. An appraisers job is more and more difficult because they are being held accountable.
I find this to be a double edged sword. If we want to get out of this housing market slump, then we need the help of appraisers to give value to our listings! If they continue to err on caution, it will be a long time for recovery.
As a listing agent, I need to find at least two comps...RECENT comps...to list a home for marketvalue. My job is to continue to watch what sells and lists during the listing and share that information with my clients. It can be a harsh reality but it's the sign of the times!
However, on a positive and much brighter note, it's a awesome time to buy! With interests rates so low and a ton of inventory, Buyers need to take advantage! You will get a deal...no matter what! And it will be your investment of a lifetime! You WILL make a boat load of a money over time! That is our reality as well!
I actually wish my kids were of age to buy! I'd have them scooping up every blessed piece of real estate out there! Talk about Warren Buffet! Our kids today have the potential to be just like him!
If your home is priced right...it will sell. No doubt! The buyers are out there. They too need to get real of thier expectations and it's our job as a Real Estate Professional to share the news and educate our clients!
It's the time to buy! Take advantage and improve your quality of life! You want to get rich??? Buy a house!
Any questions...feel free to give me an email at MariaLOrr@aol.com or call me at 610-639-3872. Thanks!
Maria Orr, ABR, Realtor
Prudential Fox and Roach
Newtown Square, Pa
Tuesday, September 6, 2011
Tuesday, April 20, 2010
April Deadline
These days it doesn't seem to be a motivational factor to be under contract
by the April 30th deadline. To be honest, I'm quite surprised that the month of April isn't sizzling like we all anticipated. Don't misunderstand me,
there was plenty of activity, with plenty of folks thinking about buying
or selling real estate. I guess I always prepare for more!
I am not concerned about the expiration of the tax credit. Yes it has sustained us, however,
it's not the end of the world. I believe most folks are evaluating their "Quality of Life"
and moving forward with their plans and dreams regardless. It always comes down to improving your lifestyle.
Buyers will still want that single home with the white picket fence to raise their family. Jobs will be offered in different locations that will have folks giving serious consideration to a potential move. And many folks will always consider downsizing. It never goes out of style.
Overall, it's improving yourself and your families lifestlye. I trust there's been a shift in the real estate market. If you are thinking of a possible move, now is the time. Low interests rates
and loads of inventory to choose from.
Of course, I have to mentioned the short sale volume. Yes...it does exist...AND... it's in your neighborhood. Don't think anyone area is immuned to it. It's happening and it's happening
closer and closer to home. Does this effect value? Of course it does. Overall, we're about 8-10% down on home values in Delaware County. This is a reality....but I do not want to alarm you.
If you haven't done a blessed thing to your home, you are not going to reep the rewards.
That's a plain fact. If you've done improvements to your home and the right improvements, you will see value. It's not rocket science...it's just being a good homeowner with values and of course,
"Quality of Life!"
by the April 30th deadline. To be honest, I'm quite surprised that the month of April isn't sizzling like we all anticipated. Don't misunderstand me,
there was plenty of activity, with plenty of folks thinking about buying
or selling real estate. I guess I always prepare for more!
I am not concerned about the expiration of the tax credit. Yes it has sustained us, however,
it's not the end of the world. I believe most folks are evaluating their "Quality of Life"
and moving forward with their plans and dreams regardless. It always comes down to improving your lifestyle.
Buyers will still want that single home with the white picket fence to raise their family. Jobs will be offered in different locations that will have folks giving serious consideration to a potential move. And many folks will always consider downsizing. It never goes out of style.
Overall, it's improving yourself and your families lifestlye. I trust there's been a shift in the real estate market. If you are thinking of a possible move, now is the time. Low interests rates
and loads of inventory to choose from.
Of course, I have to mentioned the short sale volume. Yes...it does exist...AND... it's in your neighborhood. Don't think anyone area is immuned to it. It's happening and it's happening
closer and closer to home. Does this effect value? Of course it does. Overall, we're about 8-10% down on home values in Delaware County. This is a reality....but I do not want to alarm you.
If you haven't done a blessed thing to your home, you are not going to reep the rewards.
That's a plain fact. If you've done improvements to your home and the right improvements, you will see value. It's not rocket science...it's just being a good homeowner with values and of course,
"Quality of Life!"
Wednesday, March 10, 2010
Market is Heating Up.
Well, well, well. Seems like the market is heating up. All those folks who've been waiting to purchase a home are out! The snow pushed back the activity, however, I still kept a steady beat in February.
It's kinda weird selling a home with 30 inches of snow all around and parking in the middle of the street. Snow covered roofs and piles of snow at the front door made for plenty of small talk between buyers and sellers.
I have to say since the beginning of this month, I'm beginning to feel a bit nostalgic about real estate. Almost gives me those fond memories of the bygone days when there was multiple bids on homes. This is exactly what is happening if the home is priced right! Buyers are pouncing on opportunities and not skipping a beat! If you snooze you lose!
Overpriced homes are still sitting on the market with no activity. Buyers are passing up on those homes and looking for those well priced houses that show well and are clean as a whistle. That's the secret for Sellers to a successful sale. Price Right! Don't be greedy! If there's not much equity in the property...reconsider and sell another time. If that's not an option...price aggressively...and walk away with your head held high. Remember...it's about the quality of life! Nothing else.
I haven't heard any word yet about extensions. Not sure if that's an option. I'll make sure I post any news and updates. Wishing all those potential buyers and sellers a peaceful, successful, sale which creates sheer happiness between both parties.
It's kinda weird selling a home with 30 inches of snow all around and parking in the middle of the street. Snow covered roofs and piles of snow at the front door made for plenty of small talk between buyers and sellers.
I have to say since the beginning of this month, I'm beginning to feel a bit nostalgic about real estate. Almost gives me those fond memories of the bygone days when there was multiple bids on homes. This is exactly what is happening if the home is priced right! Buyers are pouncing on opportunities and not skipping a beat! If you snooze you lose!
Overpriced homes are still sitting on the market with no activity. Buyers are passing up on those homes and looking for those well priced houses that show well and are clean as a whistle. That's the secret for Sellers to a successful sale. Price Right! Don't be greedy! If there's not much equity in the property...reconsider and sell another time. If that's not an option...price aggressively...and walk away with your head held high. Remember...it's about the quality of life! Nothing else.
I haven't heard any word yet about extensions. Not sure if that's an option. I'll make sure I post any news and updates. Wishing all those potential buyers and sellers a peaceful, successful, sale which creates sheer happiness between both parties.
Sunday, January 17, 2010
Market's Heating Up!
Believe it or not, the market in Delaware County seems to be heating up. Thanks to
the extension for the First Time Home Buyer Tax Credit and the Existing Homeowner Tax Credit, people seem to be taking advantage of it.
Contrary to this time last year the market was extremely slow. The months of January and February in the office place were like ghost towns. Day in and day out the news media squashed any glimmer of hope for the real estate market. The elements around us were tanking. Stocks were diving, unemployment was rising and the real estate industry came to a complete halt. It was a frightening time and the unknown was unsettling.
Thankfully in the spring of 2009, the First Time Home Buyer program was introduced and it gave the real estate industry a pulse. Thank God. It got houses the appointments Sellers needed and then contracts were being written.
Overall, things have kept a steady beat with real estate. Delaware County is HOT. There are plenty of deals to be had. Historically, this is the BEST time to buy. Interests rates are low, buyers only need 3. 5% down money, housing prices are at it's lowest and the government is giving money back. What are you waiting for????
If I was in the marketplace, I would be looking at homes that have been on the market for a long time. This is when you can take advantage of that listing that's been sitting forever. Sellers are motivated and want out!!! A great deal can be made if Buyers have an open mind, don't have high expectation and looking for a good home in a good neighborhood for a great deal!
What are you waiting for?? Give me a call at Century 21 Alliance...610-355-7037 or email me at
MariaLOrr@aol.com. You won't be sorry!
the extension for the First Time Home Buyer Tax Credit and the Existing Homeowner Tax Credit, people seem to be taking advantage of it.
Contrary to this time last year the market was extremely slow. The months of January and February in the office place were like ghost towns. Day in and day out the news media squashed any glimmer of hope for the real estate market. The elements around us were tanking. Stocks were diving, unemployment was rising and the real estate industry came to a complete halt. It was a frightening time and the unknown was unsettling.
Thankfully in the spring of 2009, the First Time Home Buyer program was introduced and it gave the real estate industry a pulse. Thank God. It got houses the appointments Sellers needed and then contracts were being written.
Overall, things have kept a steady beat with real estate. Delaware County is HOT. There are plenty of deals to be had. Historically, this is the BEST time to buy. Interests rates are low, buyers only need 3. 5% down money, housing prices are at it's lowest and the government is giving money back. What are you waiting for????
If I was in the marketplace, I would be looking at homes that have been on the market for a long time. This is when you can take advantage of that listing that's been sitting forever. Sellers are motivated and want out!!! A great deal can be made if Buyers have an open mind, don't have high expectation and looking for a good home in a good neighborhood for a great deal!
What are you waiting for?? Give me a call at Century 21 Alliance...610-355-7037 or email me at
MariaLOrr@aol.com. You won't be sorry!
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