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Real Estate Market Update-Delaware County & West Philadelphia Q2 2020

In this video, I will take you through some of the key housing market stats for Q2 for both Philadelphia and Delaware County, which is the suburban county immediately west of the city. The stats come from Bright MLS and represent only the transactions conducted on market vs. off the MLS.

We will dive into stats on pricing trends and sales activity for both single-family homes and multi-family properties in Delco and West Philadelphia.

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Is it better to buy rental with existing tenants?

In this video, I will review whether it is always time to celebrate when you learn that the property that you are interested in as a rental has a tenant. Well, the answer is “it depends.” It is true that there are advantages to buying a property with existing tenants.

[0:57] Some advantages of buying with existing tenants
[2:10] How it may be worth it end leases for tenants paying below-market rent
[3:10] How inheriting tenants approved with lax screening criteria cause headaches
[4:45] Challenge of completing repairs with tenants living in a property
[6:24] Devil you know is not always better
[7:00] Honoring leases

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Is It a Good Idea to Buy a Fixer Upper?

Have you thought about choosing a house that needed some TLC as your next home but worried that you may bite off more than you can chew? If you are curious about whether buying a fixer-upper home could be a smart move for you, watch this Facebook Live seminar recorded on April 30, 2020.

You can find out how to:

• Create instant equity with your buy

• Pick the right contractors

• Evaluate low down payment options

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How to back-out of a Real Estate contract?

Can you back out of a contract to buy a house even after you put your offer in writing? Watch this video to learn how to protect yourself while making offers no matter what the market is like. While going through the process to buy a home, it is important to understand the conditions that would give you the right to terminate the contract without losing your earnest money deposit in the Philadelphia metro area. In this video, I cover the top 3 contingencies where I advise my clients to read the fine print before signing an offer.

[1:00] Overview of buyer contingencies in PA
[2:45] Inspection contingency
[3:45] Mortgage contingency
[5:55] Appraisal contingency
[6:47] Contingency timelines
[8:53] Seller obligations

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Should You Buy Duplex or a Single-Family Home?

Have you considered buying a duplex where you can live in one unit and rent the other part out? Some call this house hacking. In this video, I will talk about the advantages of choosing to buy a duplex vs. a single-family home if you don’t really need a 3-4 bedroom home, especially as a first-time homebuyer.

[1:05] Overview of house hacking
[1:45] Benefits of buying a duplex and living in one unit
[4:18] Reasons why house hacking may not be right for you

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4 Tips to Buy & Sell a Home at the Same Time

Do you have to sell your home and buy a new one at the same time? Many people move forward with both selling their current home and purchasing a new house at the same time to save money from carrying two mortgages and maintaining two homes.

Watch this video to find out 4 tips to get ahead of the process to sell your current home while buying a new one.

[2:07] #1: Get a realistic view of the market and how much your current home is worth
[3:10] #2: Determine your budget
[4:08] #3: Plan out your finances
[5:22] #4: Make sure you have a back-up plan

Selling in the next 6-12 months? Click the button below to get a advice about how to sell your home on your timeline for top dollar with less stress.

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5 Questions to Ask When Buying an Older Home in the Philadelphia Area

Are you considering buying an older home vs. new construction? If so, you must be careful in your inspections to uncover hidden issues upfront so that you don’t have surprises within the first year of your ownership. If you are looking for a home in Philadelphia, you will likely be purchasing an older home so it is important to ask the right questions.

Watch this video to find out the five questions you should ask before buying an older home in Philadelphia.
[1:05] Background on older homes in the Philadelphia area
[2:48] #1: Signs of Foundation Issues?
[3:45] #2: Signs of Roof Damage?
[4:49] #3: Condition of the HVAC?
[5:24] #4: Up-to-date Electrical System?
[6:35] #5: Signs of Plumbing Problems?

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How to Keep Your Rehab Budget Under Control in Philadelphia

You can lock in your profit with a great Philadelphia real estate deal by keeping your rehab budget under control. The project management side of real estate investing is often overlooked. Everyone from newbies to experienced investors run into surprises from time to time while rehabbing properties. Through good project management, you can preserve your bottom line.

Watch this video to learn how you can manage your rehab budget effectively by avoiding five common mistakes.

[2:04] Mistake #1: Selecting the Wrong Contractor
[3:45] Mistake #2: No On-the-Ground Project Management
[4:46] Mistake #3: Focusing on Personal Taste
[5:47] Mistake #4: Forgetting to Budget for Safety Issues
[7:20] Mistake #5: Not Including a Contingency

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Selling Your Home in the Winter in Philadelphia

In this video, I will review the pros and cons of selling your home in the Philadelphia area during the winter season. Many sellers believe the myth that you have to wait until the spring to sell your home.

Watch this video to learn the advantages to sell during the winter for sellers AND buyers.

Includes 

[0:50] Selling in the Winter Overview

[2:01] 4 Pros for Sellers

[4:37] 3 Cons for Sellers

[5:39] 2 Pros for Buyer

Selling in the next 6-12 months? Click the button below to get a advice about how to sell your home on your timeline for top dollar with less stress.

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Selecting your real estate investing dream team

If you are new to real estate investing, you may not have your real estate dream team of advisors yet. Don’t risk stepping on investment landmines flying without your real estate investing A-team.

[0:00] Intro and overview of the importance of real estate advisory team
[1:44] Your realtor
[3:25] Your contractor
[5:10] Your lender