Sunday, August 7, 2016

Thinking about downsizing? Here are some tips:

Are you realizing your home, lawn or bills are becoming too big to maintain? I often consult with homeowners that are in the very beginning stages of asking themselves "are we ready to scale down?" 
Some questions we discuss during this initial consultation are; have you thought about where you want to move? Will you stay local, move towards kids or move to more enjoyable weather? Have you thought about the type of lifestyle and community you want? It's easy to get fed up with maintaining your home, but you need to dig deeper to figure out your what you want from your next home. 
Whether scaling down due to age, health or just be more economical, it's a big transition and takes time to make the official leap. 

Here are some questions to ask yourself when thinking about downsizing:

What is my budget?  Have you determined the equity you may get out of your current home? A Realtor can help give you a good idea of the current market and value of your home ( I do these consultations for free!) Often your next home costs significantly less than your current. So may have a minimal or no mortgage at all. But there are also other bills to consider like utilities, taxes, medical and home maintenance. Rule of thumb- don't spend over 30% of your monthly income on housing. Ideally less than 30%.

What is the market like where I want to buy? Will I be able to find an affordable home now if it's a sellers market? Some areas are really hot right now and not showing signs of slowing down anytime soon. If you want to move to these areas, such as Denver, it may make sense to take out an equity line to purchase a new home then pay off when you sell your home. Seek financial advice to determine what makes sense for your budget and means.

How will downsizing affect my family? Will your son or daughter move back after college? Does your extended family always stay at your home for the Holidays? You can certainly work about these scenarios, but it's something to keep in mind. 

What kind of lifestyle do I want? Why are you downsizing? Simpler life? Less maintenance? Moving to a different country? Deciding what you want to achieve by this move first will help you find the home that aligns with your goals and dreams! 

If you or someone you know is thinking about downsizing, I'm happy to give a personal consultation to see if now is a good time for them.
Kelly Steyn, Realtor® SRES
Keller Williams Blue Bell & Cherry Hill
RE License: PA-RS306853 NJ-1109349
(484) 343-2406 Cell/Text


Thursday, July 28, 2016

Glenside Living

Love to be outside? Visit one of these parks. Love the arts? Visit historic Keswick Theater. Love supporting local eateries? Plenty to choose from here! Love charming colonial homes? Check out this one:

548 Twickenham Rd.

All of these great sights and attractions are located in Glenside, PA. Glenside is about a 30-minute drive to downtown Philadelphia, 2 hours to New York City, 2 hours to the Poconos, and 1.5 hours to the Jersey shore. The town is super convenient to many major highways, such as US Route 19576, the PA Turnpike. Plus in the middle of many local roads like 611, 309 and 73, making commutes simple. SEPTA has two rail lines serving the station too! 
Come check it out for yourself!

Questions about the area, the featured home above or real estate in general, contact me.

Saturday, July 23, 2016

Buy a home this summer!

Why is it that summer always seems to fly by! Just yesterday I was talking with some friends about how it feels like summer is already over! Now, that's me being a little dramatic, but it honestly does feel like there's so much to do and so little warm weather left. 

Although I haven't gotten my desired sun time in, there's still plenty of time- more than a month in fact. August tends to slow down with work which makes it a great time to vacation AND house hunt!  

I recently read an article about why summer is the best time to buy. Here are 3 basic reasons that I thought were informative and may help you decide if now is a good time for you.

1. Prices will continue to rise. CoreLogic’s latest Home Price Index reports that home prices have appreciated by 5.9% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.3% over the next year. Get in now, before prices rise too high for what you want and need.

2. Mortgage interest rates are projected to increase. Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained around 4%. The Mortgage Bankers AssociationFreddie Mac & the National Association of Realtors are in unison, projecting that rates will be up almost a full percentage point by this time next year.
Higher interest rates (and sale prices) will affect your affordability and monthly payment!

3. End of Summer tends to be slower. Less buyer competition and sellers want to sell. If it makes sense for you financially and personally, there's no better time than now!

 <---This home in Pottsgrove is available and ready for a summer buyer! Click here for more details