Restaurant Weeks in the Philly Burbs
Foodies, unite! Three local towns will be hosting restaurant weeks in the month of March. Like Philadelphia’s ever-popular Restaurant Week, reservations fill up quickly — so be sure to make yours soon!
Paris Bistro in Chestnut Hill – one of our favorites! Photo: Steve Legato
Media’s finest eateries will be offering special three- to five-course meals from March 1-5. King of Prussia will be hosting a similar affair from March 2-8, and Chestnut Hill will be joining in from March 1-5 and again from March 8-12!
Check out more details via Main Line Today!
Submitting An Offer
Generally speaking, homes sell for less than their asking price. Unless there is a bidding war between buyers occurring (which actually isn’t all too uncommon in the spring), most buyers will offer a dollar amount that is a bit less than the seller’s current asking price. And this is a great thing for our buyers! In fact, on average in our area, homes sell for around 90-92% of their original asking price.
It can be tempting for buyers to “lowball” or submit an extremely low offer on a home that’s been sitting on the market for some time. And sometimes, this is a great idea! Submitting a very low offer is typically more successful when you’re working with a foreclosed home or a short sale when there are no other buyers submitting offers. You’re dealing with banks (not humans) and luckily, banks have fewer emotions (and aren’t easily offended)! It’s also not a bad idea to “lowball” if you’re not dead set on the home, which is why you’ll often see investors and home flippers do this. And, lastly, it’s not a bad idea to submit a lower offer than normal if you’re paying cash, or waiving major contingencies such as a home inspection contingency.
The EveryHome team would love to help you land the home of your dreams!
Of course, there are times when it is not a good idea to submit a lowball offer. First, we’ll clarify that an extremely low offer is typically considered anything less than 65-70% of the current asking price (especially when the home has been on the market a while). Often times, the biggest concern is offending the sellers and not receiving a counteroffer from them. Sometimes as a buyer, it can be hard to believe that there’s more than just dollars and cents occurring – but consider that the seller has serious emotions and attachment to the home. We often experience buyers submitting “lowball” offers and becoming upset when a seller does not provide a counteroffer. Or, if the seller does provide a counteroffer, it typically can become very difficult for both sides to reach an agreement. In the rare case that an agreement is reached, there is often a good deal of hostility between parties.
The goal, as real estate agents, is to assist our clients with purchasing their dream home for the greatest price possible. Your EveryHome agent will provide you with a comparative market analysis to determine the market value of the home you like, and assist you with the best strategy for submitting an offer. Of course, every situation is different – so we always recommend you speak with your agent (and lender).
Are Open Houses Worth It?
|While open houses are great tools for agents seeking new clients, many real estate professionals believe that they aren’t typically worth it for sellers. Most real estate agents report that only 1-3% of their listings actually sell from an open house, which means that it is much more likely that someone will purchase your home from a private showing.
|Rather, buyers today tend to be much more interested in browsing for homes online at their convenience and scheduling a showing on their own time. Open houses in our area typically don’t receive too much traffic, and many visitors tend to be curious neighbors and “looky-loos” with no intention of buying.
|Of course, there are times that open houses may work to your advantage when trying to sell your home. If you’re looking for feedback from prospective buyers, it’s a great way for your agent to ask people for their opinions. It also provides a good source of motivation to get your home extra spruced-up! Open houses also tend to be a great option when they’re a luxury home or otherwise really unique in your market.
Amanda Martin’s beautiful new listing in Gilbertsville, PA
Deflating Our Commission to 4 percent!
List your home between March 1-7 with an EveryHome agent and we will reduce our commission to 4 percent. On a $250,000 home, this means you’ll keep $5000 more than an agency that charges 6%!
EveryHome agent VolkanAndic’s newest listing at 423 Candlewood Way in Harleysville PA
Learn about selling with EveryHome here.
In order to ensure that your home is ready to hit the market in early March, be sure to reach out to the EveryHome office soon because our commission won’t be down to 4 percent forever. We would love to provide you with a complimentary market analysis to determine your home’s value (no obligation!) and assist you with staging ideas. Just give us a call at 215 699-5555, email at firstname.lastname@example.org, or text us at 215 896-6764.
We look forward to working with you!
Bidding Wars Coming
Bidding wars are coming this spring as low mortgage rates and a strengthening job market indicate that we’ll see a high demand for homes this spring according to industry experts. In fact, most professionals expect that we’ll see the highest percentage of first time buyers since before the recession.
The only problem? Homeowners aren’t listing their homes as much as we’d like to see. The inventory of homes for sale is low, despite increasing home prices. “This should signal existing home owners, who may have been slow to think of selling, to consider now a great time to list,” explains Jonathan Smoke, chief economist of realtor.com.
This combination leads to a comparatively large number of buyers and a small number of homes on the market. As a result, we can expect to see more bidding wars coming this spring–that is, competition between buyers to land their dream home. We’d love to assist you with the homebuying process, and our skilled buyer’s agents specialize in navigating bidding wars. Just send us an email at email@example.com!
Buyers Agent & Listing Agent
Clients sometimes ask us how a Buyers Agent works, if they really need one, or how much a professional Buyers Agent costs. We know it can all get a little confusing, so here’s an easy way to break it down:
Let’s start with some great news: A professional Buyers Agent (that would be us) costs you nothing. Not a single penny! When you decide on the home you wish to buy, the seller will cover the costs of both their own agent and the buyers agent. Exceptions here are rare, and we’ll be sure to let you know if this isn’t the case.
A Buyers Agent is designed toadvocate on behalf of the buyer throughout the entire transaction. We work for you, and only you. Any communication we have is confidential, and it’s our duty to help you find and purchase your dream home for the lowest fee. Without a Buyers Agent, you’ll be working with the Seller’s Agent—and their fiduciary interest is to the seller. Yikes! Plus, you’ll be navigating the contracts and legal documents without any assistance.
The best part of working with a Buyers Agent, though, is receiving cash back at settlement in the form of our Cash@Closing program. Yep, you read that right! Underneath the price of nearly every home on our website, you’ll see a Cash@Closing amount…and that’s the amount that you’ll receive at settlement when you purchase a home with an EveryHome agent! We offer you a portion of our commission as a “Thank You” for choosing EveryHome. Learn more about this on the Cash@Closing tab on the right-hand side of our homepage.
Lastly, not all real estate agents are created equal. It’s often a good idea to speak to a few (even if only over the phone!) before settling on a trustworthy, friendly agent who is excited to help you find your dream home. One of our favorite things to do is match clients with the best agent for their needs, so feel free to give us a call at 215 699 5555!
Most Romantic Homes in the Country
‘Tis the season for love, and Top Ten Real Estate Deals compiled a list of the most romantic homes in the country:
NYC is home to this poetic dining area
Aloha! This sprawling mansion offers romantic views of Maui
Cozy! This log cabin is tucked away in the Smoky Mountains
Contemporary and seductive are two words to describe this Dallas home
This pool/hot tub hideaway is located in New Orleans
San Francisco is home to this charming dining room
Looking for more? Check out AOL Real Estate’s list of exquisite homes in the country here!
Can You Qualify For HomeBuyer Assistance Programs?
There are over 2,290 programs across the country designed to assist homebuyers with meeting their down payment requirements, according to RealtyTrac. The real estate research giant teamed up with Down Payment Resource, a purveyor of down payment assistance programs, to evaluate the many options.
The average amount of down payment assistance per buyer? Over $11,500! These loans typically come in the form of below-market interest rates or 100% financing, mortgage credit certificates that provide greater tax credits, or neighborhood stabilization programs designed to revitalize communities.
Down Payment Resource’s website can be found here. If you’re looking for a home, be sure to talk to your lender and agent for individualized assistance programs
Recent Surge in Home Improvement Spending
Americans are remodeling and upgrading their homes more than ever before, according to a report published by CNBC. Industry experts believe that home improvement spending will hit record levels in 2015, despite that the new residential construction pace remains well below pre-recession levels.
Why now? With rising home prices, more and more homeowners are feeling confident enough to invest in their property. A strong job market, rising consumer confidence, and federal and state subsidies for energy-efficient upgrades haven’t hurt either!
Looking to update your home prior to selling? Be sure to reach out to EveryHome and first consult with an agent to ensure that you invest in updates that have a high rate of return.
Must Have Valentines Reservations in Greater Philadelphia
Looking to take your sweetie on a romantic date this Valentines Day? Or planning a “single girls only” dinner soiree? Be sure to make your valentines reservations as soon as possible for these top restaurants in and around Philadelphia!
1. XIX Nineteen at the Hyatt in Philadelphia has some of the very best views of the city. Just wait until you see pictures! XIX Nineteen – Image via Trip Advisor
2. Teresa’s in Wayne will appeal to your favorite wine and cheese connoisseur. The ambiance and great service keeps us coming back!
Honey Restaurant in Doylestown
3. Honey in Doylestown offers one of the most inspiring menus we’ve come across lately, and you’ll love the romantic private seating!
4. Talula’s Garden in Philadelphia is one of our very favorite Stephen Starr restaurants — you won’t believe the stunning nature-inspired décor.
5. 19 Bella in Skippack is a quaint, eclectic tapas BYOB with a special Valentine’s Day menu.
6. Osteria in Philadelphia is an incredible Marc Vetri restaurant with an eclectic menu, casual elements, and a drink menu that is sure to impress any man in your life.
7. Shula’s in Center Valley is the very best for a traditional surf and turf dining experience. Don’t forget to order their truffle fries!
Take care of your valentines reservations before it’s to late so you and your special someone can have a night you both deserve.