Should you accept a buyer offer for your home?

Should you accept the buyer offer on your home?

Property Manager PA NJ

Great news! You have a contract on your house. Do you take it?

So…your house is on the market. You’re ready to sell. You have done your homework. You have decluttered it and cleaned it up. You have staged it and had great pictures taken. Now it’s show time. More good news. You just received your first signed offer to buy your house. You’re thrilled. Right? So, what’s the problem? Should you take it?

This is part of our on-going 2021 best-in-class series of real estate articles by Nick Santoro and Joe Santoro of Personal Property Managers who service Pennsylvania and New Jersey and specialize in buying and selling homes, the real estate industry, home content downsizing, property management and estate sales. These tips and insights are especially important and true in the environment we are in today, with the global economy turned upside down, massive job losses, and the need for extreme social distancing due to the Corona Virus, which causes the COVID-19 disease.

Naturally, if you have received an all cash, as is, quick close, full price offer, you should jump on it. But, as we all know this rarely happens. In this brief article, we’ll share with you some things to consider when a buyer makes an offer on your home.

After the initial excitement of receiving a written offer, home sellers need to take a close look at the details. We are talking about looking beyond just the offer price.

Nick Santoro says, “You should look at every offer the same way, whether you have one offer or multiple offers.” Nick points out that anyone can write anything in a contract, so it’s up to your listing agent to check out whether the buyer is truly qualified.

Sellers automatically look first at the purchase price. Nick shares that other factors should have equal weight. Financing is an important consideration.

“A lender letter should be attached to every offer, so your agent can contact that lender and ask about the buyer’s qualifications,” Santoro says.

A home sellers listing agents will want to know if the loan is fully documented; if the lender foresees any credit problems and if the buyer’s cash is in the bank. Joe Santoro recommends requesting a document called a BFI or buyers financial statement, which includes income, debt and assets, including the cash needed for the purchase.

Nick suggests that you compare the mortgage preapproval letter and the buyer purchase offer to make sure the buyers are fully approved to borrow as much as they need.

Joe Santoro, co-founder of Personal Property Managers points out that virtually all buyer offers include contingencies on the buyer’s financing, home inspection and appraisal. Joe points out that the more contingencies there are, the more opportunities there are for the buyers to walk away.

Here are four Buyer and Seller contingencies that should be reviewed carefully:

Buyer Financing. The financing contingency should be 21 days or less, If someone makes a full-price offer but they need 60 days to tie up their financing, they’re asking you to take your home off the market while they figure out how to buy it.

Buyer Home inspection. The home inspection contingency should take place in 7 to 10 days at most. A seller can choose to sell their house “as is” and agree to an inspection that allows the buyer to walk away if they don’t like the report but doesn’t allow negotiations for repairs. Buyers who bid up the price on a house sometimes try to use the inspection as a way to lower it back down by having the seller subtract the cost of repairs from the price. Joe Santoro points out that often times, a buyer home inspection, done by a third party is often where a deal breaks down. Every seller thinks their house is perfect and nothing needs to be done to it, and certainly does not want to pay for any repairs as they are leaving anyway. Conversely, every buyer wants to buy a house that they feel is perfect and wants all home inspection issues addressed in fully. This is not always possible or particle. If you have never sold a house before, a buyer home inspection report often is about 40 pages in length and can scare away both buyers and seller. It is not meant to be this way, but is often taken as an insult. Diplomacy and negotiations are the key here.

Buyer lender appraisal. The appraisal contingency should be 21 days or less, An agreement of sale can be fully accepted by both buyer and seller but it can fall apart if the buyers lender when conducting a market analysis and appraisal feels that the house is worth less than it may be listed for and agreed upon. No bank or lender will lend mortgage money on a property that is valued less than the home purchase price. We recommend making sure the buyer has enough cash to bring extra money to closing if the appraisal comes in low. Otherwise, the seller would have to reduce the price or split the difference with the buyer.

Settlement date. Typically, closing is set for 30 to 45 days after the contract is accepted. If a buyer asks for a longer term, it could be that they are not financially ready. A longer settlement gives the buyer more time to back out, which could force the seller to put their home back on the market. If the seller is moving into a new house, the settlement date is crucial. A seller doesn’t want to be caught between two houses with furnishings in storage or paying two mortgages at once.

A substantial deposit shows the buyer’s desire for your home, while a small deposit makes it easier for them to walk away. It also may signal that they have very little cash and that they’re stretching to buy the house.

Some sellers are so relieved to receive an offer that they say yes to the first one they get. That’s not necessarily bad, depending on the market.

Some sellers are afraid they won’t get another offer, but if it’s the first weekend on the market, they may want to wait a few days.

For multiple offers, such as is the case in todays market, compare prices and terms to determine which one makes the most sense for your situation. Your agent will negotiate with the buyer’s agent, but you decide what to haggle over.

“It’s always best to negotiate on the least amount of details,” Joe says.

Nick says that if the price is lower than you want, we recommend that your agent go back to the buyer’s agent with a comparative market analysis (CMA) and specifics about your home to show why it’s priced as it is.

“Sometimes sellers think they need a perfect offer and won’t accept one if it’s slightly under the asking price,” Santoro says.

Nick said that he has had sellers who refused to accept an offer very close and or just under list price, only to have it sit on the market for a much longer time than anticipated, only to have an anxious seller panic and accept less money. Time is money as taxes, insurance and utility bills keep mounting. All these things need to be factored into the decision to accept or decline all reasonable offers.

“It’s possible to end up with nothing if a seller gets too greedy,” says Santoro. “If you have a willing and able buyer who can afford to buy your house and is within reason of your listing price, you should try to make it work. If you don’t, you could end up with a lower offer later.”

So all buyer offers are dependent upon many factors as noted above. In addition, there are many factors to consider on the seller side too. Factors such as how long the house is on the market. The amount of work that will need to be done to the house. Market comps. Whether or not the seller is carrying two mortgages or not; their new house and the one they are trying to sell. All of these factors must be considered when making your decision to accept a buyer offer or not.

More information can be found on who we are and Understanding market Comps via these brief video links

Personal Property Managers, can take care of all your home selling needs along with downsizing, content liquidation and renovation work. With Personal Property Managers, one call does it all. For more insights, tips and videos please visit our Resource Page in the About us tab.

We offer 6 primary services to help families or executors. They are:

Additional info can be found on this brief 90 second video or a full array of great tips and insights and video by clicking on our resource page.For more information on real estate or home downsizing please contact Nick Santoro or Joe Santoro of Personal Property Managers at 215-485-9272 or 908-368-1909. Personal Property Managers specializes in helping home owners transition from their home of many years into a new community. Personal Property Managers services Pennsylvania and New Jersey and offers downsizing services, estate sales services, home staging, discount full service real estate services via its association with EveryHome Realty. Learn more about Personal Property Managers from our recent News Stories.

2021 Housing Market – Facts, Forecasts and Tips

We wanted to share some insights with you regarding the housing market as we enter 2021, and give you a good feel for where the market is heading. Based on this information, we also will share with you some tips and insights if you are a buyer or a seller in todays housing market.

First and foremost, we want to give thanks to the brave men and women who are out on the front line; our first responders, healthcare workers, medical personnel and support providers. Secondly, we ask all to continue to practice safety and social distancing during this national emergency.

This is part of an on-going series of real estate articles by Nick Santoro and Joe Santoro of Personal Property Managers ( www.personalpropertymanagers.com ) who service Pennsylvania and New Jersey and specialize in real estate, home content downsizing, senior transition services, property management and estate sales.

So, let’s take a quick look at the facts:

  • By all measures the housing market is exploding.
  • There is more demand than there is inventory.
  • Houses are selling well over list price and are selling much faster than in the past.
  • In fact, house prices are up 12% full year 2020 vs 2019.
  • Houses sold 40% faster in 2020 than in 2019. So, the availability for a buyer to preview a house is much shorter as is days on market with many homes going under contract within the first two days, with multiple offer and many above asking price.
  • Mortgage rates are at historic lows, with current rates under 3%
  • With the advent of more people working remote and working from home there is an exodus from the city to the suburbs where there is more space when working from home.

So, now that we have shared the current trends, where are we heading in 2021 and what you may wish to do if you are a buyer or a seller in todays housing market

Here is our list of 6 predictions for the housing market in 2021. They are:

Economic Recovery

  • The combination of several viable COVID-19 vaccines and the promise of an economic recovery suggests the strong housing trends that emerged in 2020 will continue in 2021.
  • However, tight supply and strong housing prices present affordability challenges, so homebuyers may confront a slightly different landscape in the months ahead.

Housing supply will be tight despite new construction

  • As we enter 2021, homebuyers can anticipate a continuation of tight housing inventories. The uncertainty associated with the pandemic has stalled some new home construction. The U.S. Census Bureau found housing starts in the latter part of 2020 to be almost 13% above 2019. New home construction has not been sufficient for the rising housing demand. However, if signs of a strong economic recovery emerge, inventory may start to normalize in the latter part of 2021. Builders could resume previously delayed projects. In addition, slowly increasing mortgage rates and rising home prices may curtail some of the demand.

Home sales growth will be higher than last year

  • According to many industry experts annual home sales growth will be the highest in 40 years in the United States at an estimated 21.9%.
  • The pool of potential homebuyers has increased, in part due to the pandemic. In particular, millennials are looking for first homes or trading up in housing size due to their desire to leave the major cities and find space for growing families.
  • A recent survey from Realtor.com shows those who think it’s a ‘good time to sell’ now outnumber those who think it’s a ‘bad time to sell’, 48% to 44%, respectively, for the first time since the pandemic started, any additional housing inventory that has come to market has yet to dampen prices.

Rising mortgage rates may temper housing demand

  • Economists foresee the record low mortgage rates of 2020 slowly increasing. According to Realtor.com, mortgage rates will be closer to 3.4% by the end of this year. The 30-year fixed mortgage rate currently hovers around 2.875%, so the expected increase is almost half a point. Therefore, rising mortgage rates may impact the number of people able to afford homeownership, but mortgage interest rates are still extremely attractive and at or near historic lows. Some researchers argue that demand for new homes will stay healthy for the foreseeable future as buyers weigh the financial burden of renting versus purchasing, especially in major cities. Then on top of this you’ll need to factor in more and more people working remotely from home, which will further impact the demand for suburban housing.

Residents will continue to leave major cities for the suburbs

  • With many companies announcing a shift to flexible working arrangements, people are relocating outside of many major cities, such as New York, Philadelphia, Washington and Chicago. Where there was once a shortage of rental units in these major cities, now there are thousands of vacant units.
  • Low mortgage rates and the shift to remote work from home has accelerated the suburban migration because families have the flexibility to move. As a result, high-tax cities will see their tax revenues decrease substantially, forcing city services to be cut dramatically as people migrate to areas with lower living costs.

Remote work will drive the demand for more space

  • Just as in all major events we have faced, short terms shift in our daily lives now become the new norm. After vaccines have been rolled out to the masses and we transition back to what life was like prior to the pandemic, many things will remain in this new norm. We’ll see shortened in-person work weeks, more digital collaborations, and hybrid learning environments.  New homebuyers are looking for houses that support work and learning from home. Larger families, as is the case in Europe, may reconfigure themselves so more generations can coexist in the same space. Kids will continuously adapt their learning environments to hybrid or remote learning models. More time in and around the home means homebuyers will look for features like home offices, multi-purpose living spaces, spacious backyards, and walkable communities.

We hope that the facts that we shared with you give you insight into what is happening in the housing market and where it’s headed. We would like to conclude by sharing some insights if you are considering selling your home, and how to take advantage of recent trends, and we would like to also share some thoughts with you if you are considering buying a home. They are:

Tips for home Sellers:

  • Virtual tours and home videos are an absolute must for today’s buyer who want to preview a property before going outside or even considering it
  • Clean, clean, clean and then declutter your home. This is especially important now as more and more people are viewing homes in advance via videos, so clean out countertops, closets, garages and rooms in general is very important. You want to give an impression of largeness, cleanliness, and openness
  • Take advantage of your down time to spruce up your house. Do the simple things that make a big difference like a fresh coat of paint, sprucing up the front entrance to your home, trim the lawn and shrubs and make your house as inviting as possible. Remember that buyer money may be tight so you will want to do as much as you can so that a buyer will little to do when moving into your house which saves them time and money and makes your house more attractive. For more information, please see our link on the profile of todays buyers and sellers.
  • Price your home to sell. With this being a buyers’market and credit tight, properly pricing your home is critical. Work with your Realtor to do a detailed comparative market analysis to help you. Sellers will need to factor in that amount of work that may be needed on their house to bring it up to todays buyer trends and price their home accordingly. In other words if a sellers house may need a new kitchen because it is dated, that could cost between $20,000 and $75,000. A bathroom could cost between $5,000 to $25,000. So if you are looking at some online sites that offer a rough ball park for your home valuation, a seller really needs to dig much deeper to determine a homes true value. More info can be found in our article on the importance of a comparative market analysis.
  • Vacant homes are more desirable for buyers today, because the risk of germs is greatly reduced
  • Neutral colors. 98% of buyers today want neutral color as opposed to bold colors. Remove wallpaper and boarders. 79% of buyers prefer the light gray colors that are so popular today

Buyer insights:

  • Make sure that you are pre-approved for a mortgage before house shopping
  • Mortgage interest rates are very low and near historically low levels.
  • Deals. There are plenty of deals out there for eager home sellers, so take advantage of this if you are pre-qualified

For more insights, tips and videos please visit our Resource Page in the About us tab.
We offer 6 primary services to help families or executors. They are:

Additional info can be found on this brief 90 second video or a full array of great tips and insights and video by clicking on our resource page.For more information on real estate or home downsizing please contact Nick Santoro or Joe Santoro of Personal Property Managers at 215-485-9272 or 908-368-1909. Personal Property Managers specializes in helping home owners transition from their home of many years into a new community. Personal Property Managers services Pennsylvania and New Jersey and offers downsizing services, estate sales services, home staging, discount full service real estate services via its association with EveryHome Realty. Learn more about Personal Property Managers from our recent News Stories.

Are you an Empty Nester? Now what?

Empty Nest – Home Downsizing, Cleanout and Real Estate Services

Are you an empty nester? Have you lived in your home for years? Are your kids now grown and out of the house? Are you looking to simplify your life and feel you no longer need that big house? Do you have lots of stuff that you have accumulated over the years and no longer have a need for it, and do not know what to do with it? Would you like to sell your home and move into a smaller home or an active adult community? Do you feel overwhelmed and do not know where to begin? No problem. We can help. We are empty nester home downsizing and full service real estate specialists servicing Pennsylvania and New Jersey. We provide you with a one-stop solution. Our single source solution provides you with total peace of mind. We know the process of downsizing, moving, selling and buying a new home is physically and mentally exhausting. With Personal Property Managers, one call does it all. We handle all your home and property content downsizing, de-cluttering, content liquidation and real estate sale needs. Our goal is to help you declutter and downsize to obtain the highest value of your home. We provide special 2020 best-in-class portfolio of services to assist you.

During this challenging time in the Corona Virus and COVID-19 era, we help families that are unable travel or tend to their property needs by providing a true one-stop resource. We are focused on making life just a little easier for families during often difficult times. With Personal Property Managers, one call does it all.  

We service Pennsylvania, and the counties of Bucks, Montgomery, Philadelphia, Delaware, Chester and the Main Line. In New Jersey, we service the counties of Hunterdon, Mercer, Monmouth, Morris, Burlington, Middlesex, Union, Ocean, Essex and Somerset.

We offer 6 primary services to help families or executors. They are:

Additional info can be found on this brief 90 second video or a full array of great tips and insights and video by clicking on our resource page.

We also offer discount real estate services via our association with EveryHome Realty. Learn more about Personal Property Managers from our recent News Stories.

Bucks County Home Downsizing
Bucks County Home Downsizing Services

Home Downsizing Services

How Our Process Works

We begin by meeting with you personally. This allows us to understand your personal needs and for us to develop a tailored solution to meet your individual goals as you transition to an empty nester. We offer extreme cleaning and extreme home cleanout services, removing contents from hoarder homes to multi-million dollar homes.

As certified Senior Real Estate Specialist, we then conduct a comprehensive market analysis, which will help give you a feel for the value of your home, your contents and their value. We then will evaluate the contents of the property with you to ascertain what you wish to keep, give to friends and family, donate, shed, discard or move to your new home. A full inventory is done at this time and is sorted based on your direction to us. This allows us to begin the home cleanout and staging for you.

For items of value, we can facilitate an Estate Sale or help remove contents and liquidate them.

For items you wish to part with, we will arrange for the disposal of them or donate them to charitable organizations. For items you wish to keep, we can arrange for them to be packed and moved. We then work with you to determine a moving schedule.

We can assist in creating a floor plan for items going into your new home and help you move, unpack and organize. Lastly, we can assist in a final cleaning of your property as part of our home downsizing and de-cluttering process, which is all geared to help you sell your property at the maximum value.Estate Sale Services New Jersey (NJ)

Estate Sale and Content Liquidation Services

In addition to our home cleanout services and downsizing, we can help sell and liquidate all your household contents via an Estate Sale if your contents warrant it. Together we develop realistic fair market value price points for all household contents. We even develop special website pages to market your contents.

As your asset liquidator, we have found that prospective buyers feel that there is a greater perceived value when a professional estate liquidation firm conducts your household estate sale.

Please note that the market for pre-owned items is entirely based upon the style, age and condition of your contents. As a result, not all things are saleable. Additionally, there will always be two different sets of values to any items. There is the seller’s perceived value, which may have a high emotional and sentimental value, and then there is the potential buyer’s view of the contents value, which is generally very different. Please remember that something is only worth what someone else is willing to pay for it. To learn more, please click here to view a short article we wrote on this subject or click on our Resource link page for a host of other insights into selling pre-owned items, home downsizing, home sales information and elder care.

For more information on our estate sale process, please click here.Estate Sale Services Pennsylvania (PA)

Why Choose Personal Property Managers

We are an award winning organization dedicated to providing personalized services and offering you solutions that are tailored to your specific needs. For more insights, tips and videos please visit our Resource Page in the About us tab.

We tend to your property and its contents like it was our own. We know that often times a move, a home downsizing or sale can be overwhelming and physically demanding. We can handle everything for you. When you call us, you get us. We are on site at every job. You can rely on us and trust us. With Personal Property Managers…one call does it all. We are Estate Specialists, are licensed Realtors in New Jersey and Pennsylvania, and are certified Senior Real Estate Specialist via EveryHome Realty, RS308044 and 1326862. Please call us for a free consultation at 215-485-9272 or 908-368-1909.

Working from home? Create more balance

Tips for Balancing Working from Home

Personal Property ManagersThe world has changed in so many ways since the pandemic and COVID-19 outbreak. Personal and professional lives have been impacted in ways that were unimaginable just a few short months ago. Many of us are now working from home, and with that comes a whole new set of challenges. We wanted to share some tips and insights that we have learned in managing the delicate balance of working from home while juggling family and social needs.

This is part of an on-going series of articles by Nick Santoro and Joe Santoro of Personal Property Managers ( www.personalpropertymanagers.com ) who service Pennsylvania and New Jersey and specialize in real estate, home content downsizing, senior transition services, property management and estate sales, but we mainly work with families to assist them during times of transition.

Working from home can blur the lines between your personal and professional life. For those of you who are now working from home, we are sure that you have experience the challenges of being on a work call or zoom video meeting and having the dog barking in the background or the baby crying or the TV blasting in the next room. Additionally, it’s often difficult to stop working at the end of the day. So where do you draw the line? This imbalance can lead to elevated stress levels and unhealthy habits, not to mention social and family isolation.

So here is a list of tips that we have found to help give you some balance and peace while working from home:

  • Declutter and organize your home so you’re not distracted by any mess when trying to focus on work.
  • Set some ground rules for family members and let them know that when you are home working that being interrupted is not OK; that you are working and will be happy to be with them after your work is done.
  • Loneliness, disconnect, and isolation are common problems in remote work life, especially for extroverts. Stay as connected as possible with friends and family with simple phone calls, walks in the park, Facetime or Zoom virtual contact. Remember we are all in this together. Let’s support one another.
  • Don’t eat where you work. This not only keeps your workspace clean but also sets a boundary between the places where you work and relax.
  • Break the monotony of working from home and do some stuff differently
  • Don’t share your workspace with others in your household. Each person should have a dedicated workspace. Ideally, in different rooms.
  • Create structures in your day that prioritize your wellness. Don’t forget to get up and move and exercise.
  • Stick to morning routine you had in normal times as much as possible. Make your bed, shower, go out and grab a cup of coffee, change out of sweatpants.
  • Plan healthy meals for the week so you’re not snacking and frequently just because you’re steps away from your kitchen
  • Set alarms on your phone or your smart watch to remind yourself to stand up and stretch, take a lunch break, or go outside for a walk
  • Keep your business-related materials in a dedicated workspace
  • Save housework for dedicated time outside of working hours
  • Set a firm time to stop working and create a to do list for the next day. This will help you avoid working long into the night
  • We know it’s difficult to go out to a restaurant or bar or even be with extended family and friends, so try planning some virtual social time. Try Zoom video calls or Facetime calls to friends and family. Stay connected even if you cannot do it in person.
  • Avoid electronics after your work is done for the day.  Don’t get stuck into the habit of watching TV all night after working on the computer all day. Get up, get out and move.
  • Try to go to bed at the same time every night. Before falling asleep, listen to soothing music or use a mediation app instead of scrolling through your phone.
  • Exercise. Exercise. Exercise. This can take shape in many forms like biking or simply walking but do it; do something to get the blood flowing and relieve pressure and stress of being cooped up in the house. It can also be a good family thing to do.

Family and safety is of utmost importance today more than ever. So if you are thinking about moving, downsizing or are the administrator of a family estate and need help during this transition, give us a call. With Personal Property Managers, one call does it all.

We offer 6 primary services to help families or executors. They are:

Additional info can be found on this brief 90 second video or a full array of great tips and insights and video by clicking on our resource page.

For more insights, tips and videos please visit our Resource Page in the About us tab.For more information on real estate or home downsizing please contact Nick Santoro or Joe Santoro of Personal Property Managers at 215-485-9272 or 908-368-1909. Personal Property Managers specializes in helping home owners transition from their home of many years into a new community. Personal Property Managers services Pennsylvania and New Jersey and offers downsizing services, estate sales services, home staging, discount full service real estate services via its association with EveryHome Realty. Learn more about Personal Property Managers from our recent News Stories.

Empty Nest – Home Downsizing

Empty Nest – Home Downsizing, Cleanout and Real Estate Services

Are you an empty nester? Have you lived in your home for years? Are your kids now grown and out of the house? Are you looking to simplify your life and feel you no longer need that big house? Do you have lots of stuff that you have accumulated over the years and no longer have a need for it, and do not know what to do with it? Would you like to sell your home and move into a smaller home or an active adult community? Do you feel overwhelmed and do not know where to begin? No problem. We can help. We are empty nester home downsizing and full service real estate specialists servicing Pennsylvania and New Jersey. We provide you with a one-stop solution. Our single source solution provides you with total peace of mind. We know the process of downsizing, moving, selling and buying a new home is physically and mentally exhausting. With Personal Property Managers, one call does it all. We handle all your home and property content downsizing, de-cluttering, content liquidation and real estate sale needs. Our goal is to help you declutter and downsize to obtain the highest value of your home. We provide special 2020 best-in-class portfolio of services to assist you.

During this challenging time in the Corona Virus and COVID-19 era, we help families that are unable travel or tend to their property needs by providing a true one-stop resource. We are focused on making life just a little easier for families during often difficult times. With Personal Property Managers, one call does it all.  

We service Pennsylvania, and the counties of Bucks, Montgomery, Philadelphia, Delaware, Chester and the Main Line. In New Jersey, we service the counties of Hunterdon, Mercer, Monmouth, Morris, Burlington, Middlesex, Union, Ocean, Essex and Somerset.

We offer 6 primary services to help families or executors. They are:

Additional info can be found on this brief 90 second video or a full array of great tips and insights and video by clicking on our resource page.

We also offer discount real estate services via our association with EveryHome Realty. Learn more about Personal Property Managers from our recent News Stories.

Bucks County Home Downsizing

Home Downsizing Services

How Our Process Works

We begin by meeting with you personally. This allows us to understand your personal needs and for us to develop a tailored solution to meet your individual goals as you transition to an empty nester. We offer extreme cleaning and extreme home cleanout services, removing contents from hoarder homes to multi-million dollar homes.

As certified Senior Real Estate Specialist, we then conduct a comprehensive market analysis, which will help give you a feel for the value of your home, your contents and their value. We then will evaluate the contents of the property with you to ascertain what you wish to keep, give to friends and family, donate, shed, discard or move to your new home. A full inventory is done at this time and is sorted based on your direction to us. This allows us to begin the home cleanout and staging for you.

For items of value, we can facilitate an Estate Sale or help remove contents and liquidate them.

For items you wish to part with, we will arrange for the disposal of them or donate them to charitable organizations. For items you wish to keep, we can arrange for them to be packed and moved. We then work with you to determine a moving schedule.

We can assist in creating a floor plan for items going into your new home and help you move, unpack and organize. Lastly, we can assist in a final cleaning of your property as part of our home downsizing and de-cluttering process, which is all geared to help you sell your property at the maximum value.

Estate Sale and Content Liquidation Services

In addition to our home cleanout services and downsizing, we can help sell and liquidate all your household contents via an Estate Sale if your contents warrant it. Together we develop realistic fair market value price points for all household contents. We even develop special website pages to market your contents.

As your asset liquidator, we have found that prospective buyers feel that there is a greater perceived value when a professional estate liquidation firm conducts your household estate sale.

Please note that the market for pre-owned items is entirely based upon the style, age and condition of your contents. As a result, not all things are saleable. Additionally, there will always be two different sets of values to any items. There is the seller’s perceived value, which may have a high emotional and sentimental value, and then there is the potential buyer’s view of the contents value, which is generally very different. Please remember that something is only worth what someone else is willing to pay for it. To learn more, please click here to view a short article we wrote on this subject or click on our Resource link page for a host of other insights into selling pre-owned items, home downsizing, home sales information and elder care.

For more information on our estate sale process, please click here.Estate Sale Services Pennsylvania (PA)

Why Choose Personal Property Managers

We are an award winning organization dedicated to providing personalized services and offering you solutions that are tailored to your specific needs. For more insights, tips and videos please visit our Resource Page in the About us tab.

We tend to your property and its contents like it was our own. We know that often times a move, a home downsizing or sale can be overwhelming and physically demanding. We can handle everything for you. When you call us, you get us. We are on site at every job. You can rely on us and trust us. With Personal Property Managers…one call does it all. We are Estate Specialists, are licensed Realtors in New Jersey and Pennsylvania, and are certified Senior Real Estate Specialist via EveryHome Realty, RS308044 and 1326862. Please call us for a free consultation at 215-485-9272 or 908-368-1909.

Tips to think about before investing in real estate

Tips to think about before investing in real estate

Property Manager PA NJAre you thinking about investing in real estate? You will want to think carefully about what, where and for how much you want to buy, is now more important than ever. Investing in property is the single biggest financial transaction that you will ever conclude and should always be done with great care. There’s more to consider than you think. For starters, property is an active, rather than a passive investment and comes with financial risk.

Although, buying your own home should first and foremost be about securing your future and creating a foundation upon which to build a life and future for yourself and your family, you should also make sure that you are a making a sound investment. These tips and insights are especially important and true in the environment we are in today, with the global economy turned upside down, massive job losses, and the need for extreme social distancing due to the Corona Virus, which causes the COVID-19 disease. Additionally, during this challenging time in the Corona Virus and COVID-19 era, we help families that are unable travel or tend to their property needs by providing a true one-stop resource. We are focused on making life just a little easier for families during often difficult times. With Personal Property Managers, one call does it all.

This is part of a continuing series of articles by Nick Santoro and Joe Santoro of Personal Property Managers, who service Pennsylvania and New Jersey and specialize in real estate, property management, home content downsizing and estate sale services.

Before you begin….Do your homework (top 8 tips)

Whether it is your primary home or a second property such as a rental you should always do your homework thoroughly to mitigate potential risk.

Consider the downside right upfront. When the market turns for example, you might find yourself in a tight financial spot and you have to sell. Think about this when you buy: how hard will it be to sell the property if it comes down to it?

Consider whether you have the time and financial means for this type of investment. If you are purely looking for an investment, then a property fund might be the better choice, especially if you are a novice or first time buyer.

Once you have decided that you are going to take the step and invest in bricks and mortar, be sure to keep these 8 golden rules in mind:

1. Location, location, location – this old adage will always be the primary driver of demand, prices and property values. Research, research, research. Before you sign on the dotted line, chat to local area agents and get the vital statistics and information about the area.

2. Pay a fair price – do not pay more than fair market value unless you are sure that you are financially secure enough to hold onto the property until it starts to accumulate value. Price growth tends to track economic growth quite closely, so if the economy stalls, so do prices.

3. Neighborhood – do a thorough due diligence on the neighborhood and area, especially if you are not familiar with it. Make sure that it is a viable area, more so if you are looking at a second or investment property. Ensure there are good services, roads and communications connectivity for aspects such as internet and satellite television for example

4. Street savvy – don’t stop with the neighborhood, also check out the street (or complex) to ensure you are buying in the right part of the suburb. Be sure to check out the prices in your road (or complex) to compare that you are not paying more. Guard against paying a high price for an overcapitalized home.

5. Facilities and amenities – the better the facilities and amenities in the area, the more in demand the property is likely to be when it comes to either selling or renting it out. A good transport network is important, as are schools and then secondary facilities such as shops and other services.

6. Security – this has become an important consideration for neighborhoods and complexes. The more secure the property and area, the more attractive it is for buyers and tenants. Check out whether there is a neighborhood watch or similar group and ensure that the property itself is adequately secured and insured.

7. Capital value growth and yields – you obviously want to invest in an area where property values grow at least in line with the market average, preferably at an above average rate. If you are investing in a rental, then you will want to check out the rental returns in the area as it is important to budget for any shortfalls. Ensure also that you build fat into your budget for all the hidden costs associated with a rental property.

8. Leisure and attractions – if you are thinking about investing in a holiday rental, then leisure facilities and attractions are important. The closer the property is situated to attractions such as the beach, river or game reserve for example, the more in demand it will be. Consider who your tenants will be and put yourself in their shoes. Where do they want to stay when they book for a holiday for example?

More information can be found on who we are and lessons for home selling experts via these brief video links

We offer 6 primary services to help families or executors. They are:

Additional info can be found on this brief 90 second video or a full array of great tips and insights and video by clicking on our resource page.

For more insights, tips and videos please visit our Resource Page in the About us tab.For more information on real estate or home downsizing please contact Nick Santoro or Joe Santoro of Personal Property Managers at 215-485-9272 or 908-368-1909. Personal Property Managers specializes in helping home owners transition from their home of many years into a new community. Personal Property Managers services Pennsylvania and New Jersey and offers downsizing services, estate sales services, home staging, discount full service real estate services via its association with EveryHome Realty. Learn more about Personal Property Managers from our recent News Stories.

Rental Crisis – Impact on Tenants and Landlords

As a property owner and property manager, I have been asked to comment on the rental crisis that is taking place now, during the COVID-19 pandemic, and address how this effects both tenants and landlords and what the outcome may be.

My name is Joe Santoro, and I am the co-founder of Personal Property Managers, LLC.  We manage all aspects of one’s property, from rentals, to estate sales, to content cleanout, to home watch, to property sales and of course to property management.

We are a Marine family and a service-disabled veteran owned company. The Marines are taught to Adapt, Improvise and Overcome and that is exactly what is needed during this challenging time we live in.

Let me share some industry insights with you. There are approximately 49 million rental units in the USA with 46% of these units owned by mom and pop individuals and 53% owned by business entities and corporations.

Of these 49 million rental units roughly one third of them are in default now as a result of COVID-19 layoffs, furloughs and downsizing. This is an astounding number. So, the question is now what? What is the impact to tenants and landlords and even financial institutions that hold mortgages to these properties?

The answer is there is no easy answer. As the Marines teach, one needs to adapt, improvise and overcome.

As most people know, the CDC has issued a no-eviction moratorium from now through the end of the year. What does this mean? This means that tenants who have been negatively impacted by the COVID-19 pandemic cannot be evicted. This means that no rental income is coming in to landlords. The Courts are operating on a very limited basis with limited hours and personnel and are not even hearing eviction cases. Even when Courts reopen for landlord/tenant issues the chances of a landlord getting paid for months and months of back rent are remote. A landlord cannot just come into a tenant’s apartment and physically remove a tenant and their belongings. That is illegal. There are rental laws to prevent this.

Landlords cannot pay their bills or make mortgage payments if there is no income coming in. The best a landlord can do is to contact their mortgage company and ask for a CARES Act mortgage pause often called Forbearance.  The banks are not forgiving mortgage payments, rather, they are just tacking them on to the back of the mortgages. Of course, this is also impacting banks and lending institutions too.

Even if a landlord could get a legal eviction it is proven that displacing tenants tends to spread COVID-19 as they force people to move, often into close quarters in new shared housing or shelters.

So, the answer is there is no easy answer. There is not enough money in the world to address this situation. The government is doing everything they can by providing trillions of dollars to people who have been negatively impacted by the COVID-19 pandemic and that is not enough.

This is becoming the new norm. Every time we have had a major crisis in America, the dynamics and changes have become the new norm. Think back to 911 or major wild fires or hurricanes that have impacted us; we as American have had to adapt, improvise and overcome. And we have.  We have and we will continue to deal with the situation and work out way through all of this. Will it be easy? No. Are there any easy answers? No. But America is the greatest country on earth with many blessings. I have no doubt that we will overcome this virus and this financial and economic crisis. So, hold on and think positive. Think about solutions. Think about how to adapt and make lemonade out of lemons. You can do it. We can do it. Of this, I have no doubt.

This crisis has had global implications well beyond landlord / tenant issues. Can you even imagine the challenges to anyone who owns a business or works in the hospitality industry, the food and beverage industry, the hotel industry, the transportation industry, the retail industry, the elder care industry, virtually any industry and segment you can think of has been hit with hardships that heretofore have been unimaginable. So, buckle up. Yes, it will be tough for a while but if we all pull together and support one another to the best of our ability, we can work our way through this.

For more insights and or information into property management, estate sales, home watch, real estate sales and downsizing services, please contact us at www.personalpropertymanagers.com  At Personal Property Managers….one call does it all. We service Pennsylvania and New Jersey.

One-Stop Property Help for Caregivers

Caregiver Support – Home Downsizing and Real Estate Services

Are you the caregiver of an elderly loved one? Are you exhausted physically, mentally and emotionally? Is caregiving and all its demands of your time and energy getting you down? Are you overwhelmed and at wits end? Is it time for your elderly loved one to transition from their home of many years into an assisted care facility? Is the cost for care of your loved one at a senior community or assisted care community a challenge? Do you need to sell your loved ones home to help pay for their long-term care? Do you need to clean out your loved ones home to get it market ready for sale but cannot do it yourself? Do you feel you do not know where to turn? Do you feel overwhelmed and do not know where to begin? No problem. We can help. We specialize in providing a one stop, single source solution to help caregivers transition their loved ones from their home of many years into assisted care communities with our home downsizing and full service real estate services. We service Pennsylvania and New Jersey. We provide you with total peace of mind. We know the process of downsizing, moving, selling and buying a new home is physically and mentally exhausting. With Personal Property Managers, one call does it all. We handle all your loved ones home and property content downsizing, de-cluttering, content liquidation and real estate sale needs. Our goal is to help take care of all the work that needs to be done so that you obtain the highest value for your loved ones home. We provide special 2020 best-in-class portfolio of services to assist you.

During this challenging time in the Corona Virus and COVID-19 era, we help families that are unable travel or tend to their property needs by providing a true one-stop resource. We are focused on making life just a little easier for families during often difficult times. With Personal Property Managers, one call does it all.  

We service Pennsylvania, and the counties of Bucks, Montgomery, Philadelphia, Delaware, Chester and the Main Line. In New Jersey, we service the counties of Hunterdon, Mercer, Monmouth, Morris, Burlington, Middlesex, Union, Ocean, Essex and Somerset.

We offer 6 primary services to help families or executors. They are:

Additional info can be found on this brief 90 second video or a full array of great tips and insights and video by clicking on our resource page.

We also offer discount real estate services via our association with EveryHome Realty. Learn more about Personal Property Managers from our recent News Stories.

Bucks County Home Downsizing

How Our Process Works

We begin by meeting with you personally. This allows us to understand your personal needs and for us to develop a tailored solution to meet your individual goals. We offer extreme cleaning and extreme home cleanout services, removing contents from hoarder homes to multi-million dollar homes.

As certified Senior Real Estate Specialist, we then conduct a comprehensive market analysis, which will help give you a feel for the value of your loved ones home, its contents and their value. We then will evaluate the contents of the property with you to ascertain what you wish to keep, give to friends and family, donate, shed, discard or move to your new home. A full inventory is done at this time and is sorted based on your direction to us.

For items of value, we can facilitate an Estate Sale or help remove contents and liquidate them.

For items you wish to part with, we will arrange for the disposal of them or donate them to charitable organizations. For items you wish to keep, we can arrange for them to be packed and moved. We then work with you to determine a moving schedule.

We can assist in creating a floor plan for items that may be going into a loved ones new home and help your loved one move, unpack and organize. Lastly, we can assist in a final cleaning of your loved onex property as part of our home downsizing and de-cluttering process, which is all geared to help you sell your loved ones property at the maximum value.

Estate Sale and Content Liquidation Services

In addition to our home cleanout services and downsizing, we can help sell and liquidate all your loved ones household contents via an Estate Sale if their contents warrant it. Together we develop realistic fair market value price points for all household contents. We even develop special website pages to market your contents.

As your asset liquidator, we have found that prospective buyers feel that there is a greater perceived value when a professional estate liquidation firm conducts your loved ones household estate sale.

Please note that the market for pre-owned items is entirely based upon the style, age and condition of your contents. As a result, not all things are saleable. Additionally, there will always be two different sets of values to any items. There is the seller’s perceived value, which may have a high emotional and sentimental value, and then there is the potential buyer’s view of the contents value, which is generally very different. Please remember that something is only worth what someone else is willing to pay for it. To learn more, please click here to view a short article we wrote on this subject or click on our Resource link page for a host of other insights into selling pre-owned items, home downsizing, home sales information and elder care.

For more information on our estate sale process, please click here.Estate Sale Services Pennsylvania (PA)

Why Choose Personal Property Managers

We are an award winning organization dedicated to providing personalized services and offering you solutions that are tailored to your specific needs. For more insights, tips and videos please visit our Resource Page in the About us tab.

We tend to your loved ones property and its contents like it was our own. We know that often times a move, a home downsizing or sale can be overwhelming and physically demanding. We can handle everything for you. When you call us, you get us. We are on site at every job. You can rely on us and trust us. With Personal Property Managers…one call does it all. We are Estate Specialists, are licensed Realtors in New Jersey and Pennsylvania, and are certified Senior Real Estate Specialist via EveryHome Realty, RS308044 and 1326862. Please call us for a free consultation at 215-485-9272 or 908-368-1909.

Selling a home to Millennial Home Buyers

Tips on selling your home to Millennial Buyers

Tips on selling your home to Millennial Buyers

Want to sell your home in 2020? What do millennial home buyers want in 2020? Why are millennial homebuyers important? These are just a few of the key questions that you should be asking yourself if you want to sell your home this year. It is important to understand what current trends are and how to capitalize on these insights. During this challenging time in the Corona Virus and COVID-19 era, we help families that are unable travel or tend to their property needs by providing a true one-stop resource. We are focused on making life just a little easier for families during often difficult times. With Personal Property Managers, one call does it all.

This is part of an on-going series of real estate articles by Nick Santoro and Joe Santoro of Personal Property Managers who service Pennsylvania and New Jersey and specialize in buying and selling homes, the real estate industry, home content downsizing, property management and estate sales.

Who are they? Home Buyer Profiles for 2020:
• The millennial generation is defined as those who are 36 years old and younger.
• Generation X is 37 to 51
• Younger Boomers are 52 to 61.
• Older Boomers are 62 to 70
• the Silent Generation are aged 71 to 91.

Nick Santoro says, that no matter where you live in the United States, no matter what your profession, background or generation, no doubt you have seen and heard much about the generation called the “millennials.”

Millennials are the people born between 1981 and 1997. It is important to understand certain behavioral patterns shared by most millennials.

Millennials are set to become the largest home buying generation in U.S. history and, more than likely, a millennial may be the next buyer of your home.

Millennial buyers (age 36 years and younger) represent 66% or 2/3 of today’s buyers and were first-time buyers. Over one quarter or 28% of today’s buyers were Gen X buyers (age 37 to 51). So, 92% of today’s buyers were Millennials or Gen X’ers….

Joe Santoro says that in our opinion, millennials have been largely misunderstood by older generations because of the unique way they think and communicate.

At Personal Property Managers, we have been fortunate enough to work with quite a few millennial homebuyers and sellers. Through our experience, we have gained valuable knowledge about the likes, dislikes, expectations and fears of the millennials. Using our firsthand experience, we are happy to share some tips with would-be sellers on how to make your home attractive to millennials.

What do todays buyers what in a home?

If you were asked to guess the top-selling feature in a house, what would you guess? If you said the kitchen, you hit the jackpot. But not just any kitchen says Joe Santoro. Millennials love the concept of a remodeled open kitchen, and light cabinets and white or gray granite countertops are a must. Add stainless-steel appliances, backsplash, cool plumbing fixtures and recessed lighting, and you have a winner.

If it is at all possible to open up your kitchen into your living/dining room, the expense will be well justified, Nick Santoro says.

The next thing millennials pay close attention to is bathrooms. We not only sell a lot of homes but we purchase and flip homes and have noticed that having a remodeled walk-in shower has become a lot more desirable than a traditional tub. Nick says that floor-to-ceiling tile mixed with some inexpensive mosaic designs create the “wow” factor.

Again, soft and light colors are most desired by millennials. Also, don’t shy away from using cool sinks and vanities. They combine nicely with the concept of a modern bathroom.

Now that we have the top two areas covered; kitchens and bathrooms, we’d like to share with you what else in the house can be appealing to a millennial buyer.

Flooring is a big one. Having light wood or laminate in the main living areas makes the space appear larger and aesthetically more pleasing. Carpeting is out for today’s buyers. A relatively newer alternative is the luxury vinyl plank flooring with a wood look. It’s less expensive but just as durable, if not more so, than wood. Neutral off-white, gray or light blue paint is the color of choice for this generation. Crown moldings can add a nice touch.

Technology in the house is also something that resonates with today’s younger buyers. We’re talking about high-tech security systems with touch pads, smart devices like thermostats, the “Ring”-style doorbell/security system and remote-controlled lights and ceiling fans. Even a modern wall-mount electric fireplace can add a lot of character.

What about the outside of your house? What do buyers look for?

Do what’s reasonably possible to add great curb appeal to your house. By far, one of the most important exterior features millennials look at closely is the age of the roof. Having a new roof sometimes makes or breaks the deal. Manicured landscaping and a painted front door and trim can greatly enhance the outside appearance.

What if you can’t afford these upgrades?

We’ve shared with you our personal experience with today’s buyers and you may be thinking by now, “It all sounds great, but it costs a lot of money.” That might be true. But, generally, millennials are willing to pay more for a house that has everything they want. And in today’s market, with such low inventory, they don’t always have the luxury of choice.

If there is no way you can afford remodeling and prepping your house for sale, there is still something you can do that may help you and that doesn’t cost much, if anything. For example, what if you have an outdated kitchen, bathrooms or floors. Why don’t you call a contractor and get estimates for the work, including opening up a kitchen if necessary?

Please remember that in todays market, unlike years ago, when pricing a home, you need to discount the price of the home in line with the work that will need to be done to it. Todays buyers, for the most part, do not have the time, desire or the left over disposable income to do fix up work and needed updating. This is a vast shift from years ago when home buyers were expected to do work on a house. Todays buyers would like to move in on a Saturday and host a party on Sunday…and do nothing to the house. So please factor this in to your home pricing when putting your home on the market.

One really creative way to tackle upgrades without spending any money is to ask contractors for some renderings or “after” pictures of similar kitchens they have done. Having an estimate with the visuals can help the buyer see beyond the current condition and budget for the cost. It’s the fear of the unknown that scares people, and often they think the work will cost more than it really does.

Of course, you would also need to consider making a pricing adjustment to allow the buyers to do the work themselves and still feel that they got a fair price.

More information can be found on who we are and Understanding market Comps via these brief video links

For more insights, tips and videos please visit our Resource Page in the About us tab.For more information on real estate or home downsizing please contact Nick Santoro or Joe Santoro of Personal Property Managers at 215-485-9272 or 908-368-1909. Personal Property Managers specializes in helping home owners transition from their home of many years into a new community. Personal Property Managers services Pennsylvania and New Jersey and offers downsizing services, estate sales services, home staging, discount full service real estate services via its association with EveryHome Realty. Learn more about Personal Property Managers from our recent News Stories.

Top 6 things you can do to keep your home safe when selling it

Securing is top of mind today. This is especially true for homeowners or it should be. With this in mind we have taken the time to share with you our top 6 things you can do to keep you home safe when putting it on the market for sale. This is part of an on-going series of real estate articles by Nick Santoro and Joe Santoro of Personal Property Managers who service Pennsylvania and New Jersey and specialize in real estate, home content downsizing, property management and estate sales. These tips and insights are especially important and true in the environment we are in today, with the global economy turned upside down, massive job losses, and the need for extreme social distancing due to the Corona Virus, which causes the COVID-19 disease. Additionally, during this challenging time in the Corona Virus and COVID-19 era, we help families that are unable travel or tend to their property needs by providing a true one-stop resource. We are focused on making life just a little easier for families during often difficult times. With Personal Property Managers, one call does it all.

1. Stow away valuables. This includes everything from mail left on your kitchen counter (which may contain personal information and bank statements) to such items as jewelry, artwork, cellphones, and gaming systems. Real estate agents can’t protect valuables and likely won’t be following prospective buyers all around the house, especially during a busy open house. You should walk through your house before a showing or open house to make sure everything of value is out of sight.

2. Remove or lock up prescription medications prior to showings. Similar to removing valuables prior to a showing or open house, prescription drugs are another key item to protect.

3. Remove family photos for your safety. Many real estate agents advise sellers to remove family photos as part of the staging process, but removing photos can also help protect your family’s privacy.

4. Make your house safe for buyers and agents. Turn on the lights prior to showings — whether it’s daytime or evening — so that agents and buyers can move safely through the home. It’s important to remove obvious weapons (like guns) before showings, but also not-so-obvious weapons. For example, many homeowners may have a block of knives on their kitchen counter which should be removed for everyone’s safety.

5. Keep the house locked and consider extra monitoring. Doors need to be kept locked at all times. Consider adding deadbolt locks, securing sliding glass doors with bars and extra locks, installing motion-sensor lights for outdoor areas, and check that all windows are locked securely. Look into installing a wireless security system, maybe one that alerts you if motion is detected.

6. Beware of unexpected visitors. When your house is for sale, should you get unexpected visitors at your front door and you weren’t expecting any showings, don’t let them in. This is not the proper procedure for showings. Only real estate professionals who have made an appointment and use the lockbox should gain access to your home.

As a follow-up to this last tip, if something doesn’t feel right, trust your gut. You and your realtor have the right to decline any showing request.

When returning home after a showing or an open house, don’t assume that everyone has left and that the house has been secured. Walk through the entire house, checking each room, as well as all door locks and windows – even on upper levels. If you notice anything that’s missing or possibly damaged, call your realtor immediately.

Nick Santoro, co-founder of Personal Property Managers and a decorated Marine points out that this information is certainly not meant to create fear and mistrust, or to scare homeowners away from selling, but rather to help them and their realtors think practically about the ways to secure homes and valuables, and to maintain everyone’s personal safety.

More information can be found on who we are and lessons for home selling experts via these brief video links

For more insights, tips and videos please visit our Resource Page in the About us tab.For more information on real estate or home downsizing please contact Nick Santoro or Joe Santoro of Personal Property Managers at 215-485-9272 or 908-368-1909. Personal Property Managers specializes in helping home owners transition from their home of many years into a new community. Personal Property Managers services Pennsylvania and New Jersey and offers downsizing services, estate sales services, home staging, discount full service real estate services via its association with EveryHome Realty. Learn more about Personal Property Managers from our recent News Stories.