Sunday, February 19, 2006

HOW TO GET YOUR OFFER ACCEPTED IN A COMPETITIVE BIDDING SITUATION:

Always make your best offer first – Give the seller something to “lose sleep over” in the event they turn it down. It may seem counter-intuitive but this truly is the best strategy. Give your full deposit UP FRONT with the initial offer – It costs no more and looks serious, setting your offer above those of other buyers. Make sure you have a strong pre-approval letter, or even better, an actual mortgage commitment. In fact, if you KNOW you can get a mortgage, you should consider eliminating the mortgage contingency clause completely and making it a “cash” offer. Find out what settlement date the seller needs and meet that date. All of these things can help you get the property for the best price possible yet still beat out other buyers.

Monday, February 13, 2006

Sunday, February 12, 2006

Home inventories rise sharply in many major markets

Rising inventory signals some falling real estate prices in Philadelphia and other major cities


In my own marketplace, which is Eastern Montgomery County, Lower Bucks County and Northeast Philadelphia, I have been observing this since Labor Day. Unfortunately, home sellers are frequently the "last to know" and try in vain to cling to the high prices that were being obtained seven-eight months ago. The good news is that this makes it more affordable to trade up, however!! Also, this is great news for first time home buyers.

Inman News - Real Estate News and Advice for Buyers, Sellers & Investors

Inman News - Real Estate News and Advice for Buyers, Sellers & Investors

Friday, February 10, 2006

Too much of a good thing? - 2006-02-06

Industrial Land Scarce in Phila area as Residential Devpt has Flourished.

Businsses looking to find industrial real estate in the Philadelphia area, especially new types of high-tech businesses are being faced with an intense scarcity on both sides of the Delaware. This imbalance does not bode well for economic development for our area as these new businesses that could provide jobs are forced to look elsewhere.