Monday, January 8, 2018

2018 Trend

At the beginning of a new year it's natural to reflect on the previous 12 months and look ahead at what's to come. Personally, the last year was my favorite! I became a mother to our daughter Madison and professional I achieved goals and learned a lot. Now politically, well it was even more historic. 

Looking ahead in terms of the real estate, the overall assumption for 2018 is positive. Slight increase in sale prices, only a slight increase in interest rates and economic growth.

Forecasting exactly what the mortgage interest rates will be is tough without a crystal ball. But we can make some educated guesses by watching the Federal Reserve trends. It's predicted rates will go up 3 to 4 times this year, but not to exceed 5%. According to Housingwire recent article, "The MBA predicts rates will increase to 4.6% in 2018, 5% in 2019 and 5.3% in 2020."

What does this mean? If rates increase, home buyers may be priced out of the homes they want. With this threat, it will encourage many buyers that are on the fence to purchase a home sooner than later. This will spur a healthy market in 2018, especially for the 'move up' homeowners. Also, inventory is predicted to remain low, favoring home sellers-again a great opportunity for the 'move up' buyer. However, builders are gradually increasing their construction and their confidence is at an 18 year high according to the National Associations of Home Builders. "NAHB’s Chief Economist Robert Dietz said that the measure of homebuyer traffic increased 8 percent, and “with low unemployment rates, favorable demographics and a tight supply of existing home inventory, we can expect continued upward movement of the single-family construction sector next year,” he added." source: https://www.nahb.org/

Tax reform is a biggie for 2018... 
Definitely speak with your accountant to see how you'll personally be affected. Here are few changes:
1.Generally lower tax rates for individual tax filers. Example; Individual income between $38,700-$93,700 was in 25% bracket. Need law is income between $38,900-$82,500 is 22% and $82,500-157,500 is 24% bracket
2. Itemized deductions for state and property taxes as well as income or sales tax is capped at $10,000
3. Standard deduction for single is $12,000 and $24,000 for joint returns.
Here is more information >>https://www.forbes.com/

Want some good news about taxes? Locally, Chester, Delaware and Montgomery counties did not include property tax increase for 2018. However, Bucks county approved a 5.4% property tax increase.
https://www.apartmenttherapy.com

Now the important stuff 😀- what is the color of the year to spruce up your home? Try a pop of Ultra Violet! https://www.pantone.com/color-of-the-year-2018


Friday, October 27, 2017

3 Generations in 1 Home

I'm seeing it more and more and am actively educating myself on how to best service these homeowners (hence my Senior Real Estate Specialist designation). The scenario often goes like this; aging parents decide they want a smaller space and need less maintenance. The family decides it's best to move in with one of their children to save money plus possibly provide care and assistance to their grandchildren. Now there are 3 generations under one roof and space may be tight if it wasn't planned out ahead of time. (Pew report did find that more than three-quarters of "boomerangs" — the young adults ages 25 to 34 who move back in with their parents — were satisfied with their living situation- but that's another post for later.)

It's not uncommon for my buyer clients to have an in-law suite or potential space to build a suite be on their wish list because of this exact scenario.  These homeowner's are called 'sandwich generation' and it's becoming a growing trend as the baby boomers age. Luckily as the trend grows, homes to accommodate multigenerational families are growing as well. Builders, contractors and architects are supporting this need and there are even certified aging-in place specialist (CAPS) to help.

If you decide to modify your home to fit the needs and conveniences of your parents, think about their safety and daily conveniences. Such as adding more light in rooms, installing grab bars in bathrooms and near stairways and ensuring floor transitions from room to room are smooth. Motion censored lights, remote controlled fans and window treatments and walk-in showers are desirable to the majority of homeowners and buyers and are beneficial for aging family members! Win-Win!

If you need to make extra space or even move to a more accommodating floor plan, I am your
resource. In the meantime, get some inspiration here >> https://www.thehouseplanshop.com/multi-generational-house-plans/house-plans/130/1.php  (I can' t be the only one that loves to look at floor plans, am I?!)

Lastly, there are many things to consider when living in a multigenerational home and at times can be hard for the 'sandwich generation.' Here is a link for some helpful tips:
https://www.care.com/c/stories/5326/9-tips-for-managing-sandwich-generation-stres/

Thursday, September 14, 2017

Looking to invest in real estate?

There are so many different ways you can invest and plan for your future. One proven method is investing in real estate and even that has multiple methods and strategies. Do you want to be a landlord, buy and flip or be a hard money lender- the options are endless and available.
3 bed. 2.5 bath town home in West Chester, PA $235,000.00

Whether you're looking to get your first investment or are a seasoned investor, I have 3 properties that could be great rental investments.

First is 150 Weedon Ct. West Chester, PA 19380
This property is located in Exton Station, a desirable neighborhood that is right near Exton Station shopping, route 100 and many corporate centers. Rental prices in the neighborhood range from $1500 on up!


4 bed 1 bath row home in Cobbs Creek, PA $115,000



You'll want to check out this row home in Cobbs Creek too! 6023 Webster St. Philadelphia has tons of charm and offers a 4th bedroom which is unusual in the neighborhood. A landlord could easily get $1100-$1300 a month in the area. 
2 bed 1.5 bath town home in West Norriton, PA
$189,000

814 Treetop Lane in Norristown is in the popular Regents Park neighborhood. The home is 2 bedrooms, 1.5 bathrooms and features a walk out finished basement! 
Rentals go for $1200-$1600 depending on upgrades and if there is a basement and half bathroom.

For more information or questions, please contact me directly at:
215-646-2900