Tag Archives: how to

Estate Sales, Home Content Liquidation – Why can’t I sell my home contents? Who wants my stuff? – Podcast Episode 4

PPM smaller version Podcast - picture - final version 2-13-19

Are you moving, downsizing or settling an estate and want to sell or liquidate the contents of your home? This podcast provides insight into estate sale market for selling pre-owned and used items such as furniture and other personal items, and shares current trends for these items as to what is desirable or not for today’s buyers. For more information contact Joe Santoro or Nick Santoro of Personal Property Managers at www.personalpropertymanagers.com

Estate Sales, Home Content Liquidation – How to Sell your Home Contents – Podcast Episode 3

PPM smaller version Podcast - picture - final version 2-13-19

This podcast will focus on helping homeowners understand how to sell the contents of their home via an Estate Sale and how the process works, and what household items are desirable and which ones are not. For more information contact Joe Santoro or Nick Santoro of Personal Property Managers at http://www.personalpropertymanagers.com

 

Advice and insights – Parting with Family Heirlooms

Advice and insights – Parting with Family Heirlooms

Does anyone want my grandparents stuff?

Home Downsizing Tips PA NJWe are often contacted by people who, through the death of an elderly loved one, are now faced with trying to unload their familes home contents. If you have never gone through this process, it’s a real eye opener, especially for older members of the family tasked with this chore.

We all have fond memories of growing up and playing at grandmas house and the love and care that she put into the house, along with all the lovely things inside it. Unfortunately, the value of things has changed dramatically over the past few years. Things that were in high regard and value in the past are no longer sought after or even wanted today. Things like porcelin dolls, china, figureenes and such are just viewed as needless clutter today.

Most of the people who contact us, begin by telling us they have a variety of items ranging from kitchen sets, living room sets, bedroom sets, china cabinets filled with all kinds of things, and believe that buyers will want to flock to their home for a chance to buy their contents. Sadly, that’s just not reality today.

Things have really changed over the last few years. Items that people thought were valuable years ago, such as collectable figurines or china cabinets filled with plates and glassware are no longer in style. Furniture that is still functional but is 20 years old is just not in style or in demand today. We have found that 50 is the magic age. People over the age of 50 already have many of the things that people want to sell and do not want any more of it. People under age 50 simply do not have interest in many of the things that people want to sell. It all boils down to style, age, condition and desirability. We always tell people that it does not matter what you paid for it…something is only worth what someone else is willing to pay for it.

This is part of a continuing series of helpful articles from Joe Santoro and Nick Santoro of Personal Property Managers to assist you in home downsizing, content liquidation and full service discount real estate services. Personal Property Managers services clients in New Jersey and Pennsylvania.

Caregivers and executors of estates quickly learn the hard truth that others in their 50s and 60s need to know: Nobody wants the prized possessions of your parents — not even you or your kids.

The Stuff of Nightmares

Many boomers and Gen X’ers charged with disposing the family heirlooms, it seems, are unprepared for the reality and unwilling to face it. Let’s face it, how many young people do you know that are picking out formal china patterns or want former collectable antiques anymore?

Joe Santoro, says that at least a half dozen times a week, families come to us and say: ‘What do we do with all this stuff?’” The answer: do you know of anyone who may want it, because there is little to no resale value in items such as furniture that is 20 plus years old; and good luck trying to get a charity or thrift store to take your 30 year old bedroom set, dining room set and couches.

Dining room tables and chairs, end tables and armoires have become furniture non grata. Antiques are antiquated. Old mahogany stuff from your great aunt’s house is basically worthless, says Nick Santoro.

What about all the stuff you see on TV shows? On PBS’s Antiques Roadshow, for example, prices for certain types of period furniture have dropped so much that some episode reruns note current, lower estimated appraisals.

And if you’re thinking your grown children will gladly accept your parents’ items, if only for sentimental reasons, you’re likely in for an unpleasant surprise.

Young couples starting out don’t want the same things people used to have according to Joe Santoro, and in fact, they often don’t want anything from grandma’s house. In fact, we have found that around age 50 is the dividing line. People over 50 already have lots of the same stuff that people now want to get rid off and don’t want anymore of it and would like to downsize themselves too. People under the age of 50 simple don’t want older stuff. We now live in the disposable age. Many things, like furniture are must less costly today, so younger people would just rather buy new things and then after about 7 or 8 years simply get rid of it and get newer items all over again, to keep up with changing styles and taste.

The Minimalist Generation

Joe points out that this is an Ikea and Target generation. They live minimally, much more so than the boomers. They don’t have the emotional connection to things that earlier generations did. They are more mobile. So they don’t want a lot of heavy stuff dragging down a move across country for a new opportunity.

Additionally, Nick points out that you can pretty much forget about interesting your grown kids in the books that lined their grandparents’ shelves for decades. If you’re lucky, you might find buyers for some books by having a garage sale, but be prepared to sell a whole box of books for $3.00. In fact, many local libraries will not even take books anymore and certainly not old encyclopedias.

Most antiques dealers (if you can even find one) and auction houses have little appetite for your parents’ stuff, either. That’s because their customers generally aren’t interested.

Even charities like Salvation Army and Goodwill frequently reject donations of home furnishings, we can sadly report from our own personal experience.

6 Tips for Home Unfurnishing

What else can you do to avoid finding yourself forlorn in your late parents’ home, broken up about the breakfront that’s going begging? Some suggestions:

1. Give yourself plenty of time to find takers, if you can. “We tell people: The longer you have to sell something, the more money you’re going to make, of course, this could mean cluttering up your basement, attic or living room with tables, lamps and the like until you finally locate interested parties. Additionally, this could take quite some time and effort to accomplish.

2. Do an online search to see whether there’s a market for your parents’ art, furniture, china or crystal.

3. Get the jewelry appraised. It’s possible that a necklace, ring or brooch has value and could be sold.

4. Look for a nearby consignment shop that might take some items. Again, this takes a lot of time and effort, and don’t forget about the cost and logistic of removing and transporting the contents. None of this is easy.

5. See if someone locally could use what you inherited. Giving stuff away may make you feel better, because trying to sell items takes patience and effort.

6. But perhaps the best advice is: Prepare for disappointment. “For the first time in history of the world, two generations are downsizing simultaneously,” says Joe Santoro, talking about the boomers’ parents and the boomers themselves.

The bottom line is that the younger adult generations simply want something different from their parents. They prefer newer, more contemporary styles and do not want lots of needless clutter.

The good news is that we can help clean-out your house, help downsize your family home and liquidate contents that are saleable and in demand. We offer on-site estate sale services if there is sufficient quantity and quality. We can remove contents and sell them via our array of proprietary resources, again, if they are in demand and of value. And, lastly we can remove and dispose of unwanted and unsaleable contents.

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.

Parting with Family Heirlooms

Advice and insights – Parting with Family Heirlooms

Does anyone want my grandparents stuff?

Home Downsizing Tips PA NJWe are often contacted by people who, through the death of an elderly loved one, are now faced with trying to unload their familes home contents. If you have never gone through this process, it’s a real eye opener, especially for older members of the family tasked with this chore.

We all have fond memories of growing up and playing at grandmas house and the love and care that she put into the house, along with all the lovely things inside it. Unfortunately, the value of things has changed dramatically over the past few years. Things that were in high regard and value in the past are no longer sought after or even wanted today. Things like porcelain dolls, china, figurines and such are just viewed as needless clutter today.

Most of the people who contact us, begin by telling us they have a variety of items ranging from kitchen sets, living room sets, bedroom sets, china cabinets filled with all kinds of things, and believe that buyers will want to flock to their home for a chance to buy their contents. Sadly, that’s just not reality today.

Things have really changed over the last few years. Items that people thought were valuable years ago, such as collectable figurines or china cabinets filled with plates and glassware are no longer in style. Furniture that is still functional but is 20 years old is just not in style or in demand today. We have found that 50 is the magic age. People over the age of 50 already have many of the things that people want to sell and do not want any more of it. People under age 50 simply do not have interest in many of the things that people want to sell. It all boils down to style, age, condition and desirability. We always tell people that it does not matter what you paid for it…something is only worth what someone else is willing to pay for it.

This is part of a continuing series of helpful articles from Joe Santoro and Nick Santoro of Personal Property Managers to assist you in home downsizing, content liquidation and full service discount real estate services. Personal Property Managers services clients in New Jersey and Pennsylvania.

Caregivers and executors of estates quickly learn the hard truth that others in their 50s and 60s need to know: Nobody wants the prized possessions of your parents — not even you or your kids.

The Stuff of Nightmares

Many boomers and Gen X’ers charged with disposing the family heirlooms, it seems, are unprepared for the reality and unwilling to face it. Let’s face it, how many young people do you know that are picking out formal china patterns or want former collectable antiques anymore?

Joe Santoro, says that at least a half dozen times a week, families come to us and say: ‘What do we do with all this stuff?’” The answer: do you know of anyone who may want it, because there is little to no resale value in items such as furniture that is 20 plus years old; and good luck trying to get a charity or thrift store to take your 30 year old bedroom set, dining room set and couches.

Dining room tables and chairs, end tables and armoires have become furniture non grata. Antiques are antiquated. Old mahogany stuff from your great aunt’s house is basically worthless, says Nick Santoro.

What about all the stuff you see on TV shows? On PBS’s Antiques Roadshow, for example, prices for certain types of period furniture have dropped so much that some episode reruns note current, lower estimated appraisals.

And if you’re thinking your grown children will gladly accept your parents’ items, if only for sentimental reasons, you’re likely in for an unpleasant surprise.

Young couples starting out don’t want the same things people used to have according to Joe Santoro, and in fact, they often don’t want anything from grandma’s house. In fact, we have found that around age 50 is the dividing line. People over 50 already have lots of the same stuff that people now want to get rid off and don’t want anymore of it and would like to downsize themselves too. People under the age of 50 simple don’t want older stuff. We now live in the disposable age. Many things, like furniture are must less costly today, so younger people would just rather buy new things and then after about 7 or 8 years simply get rid of it and get newer items all over again, to keep up with changing styles and taste.

The Minimalist Generation

Joe points out that this is an Ikea and Target generation. They live minimally, much more so than the boomers. They don’t have the emotional connection to things that earlier generations did. They are more mobile. So they don’t want a lot of heavy stuff dragging down a move across country for a new opportunity.

Additionally, Nick points out that you can pretty much forget about interesting your grown kids in the books that lined their grandparents’ shelves for decades. If you’re lucky, you might find buyers for some books by having a garage sale, but be prepared to sell a whole box of books for $3.00. In fact, many local libraries will not even take books anymore and certainly not old encyclopedias.

Most antiques dealers (if you can even find one) and auction houses have little appetite for your parents’ stuff, either. That’s because their customers generally aren’t interested.

Even charities like Salvation Army and Goodwill frequently reject donations of home furnishings, we can sadly report from our own personal experience.

6 Tips for Home Unfurnishing

What else can you do to avoid finding yourself forlorn in your late parents’ home, broken up about the breakfront that’s going begging? Some suggestions:

1. Give yourself plenty of time to find takers, if you can. “We tell people: The longer you have to sell something, the more money you’re going to make, of course, this could mean cluttering up your basement, attic or living room with tables, lamps and the like until you finally locate interested parties. Additionally, this could take quite some time and effort to accomplish.

2. Do an online search to see whether there’s a market for your parents’ art, furniture, china or crystal.

3. Get the jewelry appraised. It’s possible that a necklace, ring or brooch has value and could be sold.

4. Look for a nearby consignment shop that might take some items. Again, this takes a lot of time and effort, and don’t forget about the cost and logistic of removing and transporting the contents. None of this is easy.

5. See if someone locally could use what you inherited. Giving stuff away may make you feel better, because trying to sell items takes patience and effort.

6. But perhaps the best advice is: Prepare for disappointment. “For the first time in history of the world, two generations are downsizing simultaneously,” says Joe Santoro, talking about the boomers’ parents and the boomers themselves.

The bottom line is that the younger adult generations simply want something different from their parents. They prefer newer, more contemporary styles and do not want lots of needless clutter.

The good news is that we can help clean-out your house, help downsize your family home and liquidate contents that are saleable and in demand. We offer on-site estate sale services if there is sufficient quantity and quality. We can remove contents and sell them via our array of proprietary resources, again, if they are in demand and of value. And, lastly we can remove and dispose of unwanted and unsaleable contents.

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 5 tips – how to flip houses

Top 5 tips – how to flip houses

Property Manager PA NJAre you considering investing in real estate? Are you interested in buying an investment property, fixing it up and selling it, often called flipping a property? House flipping in the real estate sector refers to where you invest in a property with the objective of making a nice profit on it, often in a relatively short period of time. 

The golden rule with making money on property is always to buy low and sell high, but there are risk factors that must be considered. Especially if you are a novice investor or renovator, you need to really do your homework and then some. Your ‘flip’ can quite easily turn into a ‘flop’ and a significant financial loss says Joe Santoro of Personal Property Managers.

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.

We suggest that home buyers, should buy with the view to creating security for themselves and their families. Real Estate does present the opportunity to not just grow your personal wealth, but make some nice profits, if you approach it in a careful way.

Some of the popular types of property that house-flippers tend to look for are fixer-uppers and quick sale or distressed properties.

Older, up and coming neighborhoods also tend to be good areas to consider if you want to profit from the property flipping trend. This means that buyers are able to invest in older properties, upgrade these and sell them for a profit.

If you are thinking about getting into the house-flipping trend and want to make it a profitable venture, then consider these 5 top tips:
1. Buy smart
Always do your homework and ensure you buy smart. Investing in property is a costly exercise, especially if your finances are tight. Even if you are flush with cash, you would still want to exercise caution and ensure you understand the area and market that you are investing in. Be sure that there is a demand for the type of upgrades or renovations that you are planning as it does not pay to overcapitalize.

2. Understand the market
It is important to have a good understanding of whether there is a demand for the type of remodeling or upgrading that you are planning. While a smart investor will create the need for his/her property, you are often unfortunately guided by what buyers want and what they are prepared to pay. This means that you need to research the area and market thoroughly and ensure that your plans, asking price and profit expectation match the current market.

3. Start with the end price in mind
Always start with the end price that you may be able to sell your property for in mind. That is, the price right now that you could get in the market given the economic and market cycle. Also be sure to price in line with what the market will pay. Often, investors will overspend on the upgrade of their investment property and then price it at the top end of the market. Top end buyers tend to be few and far between and can be quite discerning and will not pay an inflated price regardless of how fabulous the upgrades are.

4. Renovation costs
Most renovators will tell you that it is almost inevitable that your planned renovations or upgrades will turn out to cost more than initially anticipated. Nonetheless, there are many examples of well-budgeted and planned renovations that have turned older homes and complexes into trendy spaces that have not only attracted buyers, but contributed to upgrading the area.

5. Economic climate and property cycle
Generally, house flipping relies on a strong property market because you would want to get a good price and for this, you need willing buyers and some competition. The economy and property market are cyclical in nature and heavily sentiment driven. This is something that we see right now.

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.

Before you invest 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.
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?

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.

How to Flip Houses

Top 5 tips – how to flip houses

 Property Manager PA NJAre you considering investing in real estate? Are you interested in buying an investment property, fixing it up and selling it, often called flipping a property? House flipping in the real estate sector refers to where you invest in a property with the objective of making a nice profit on it, often in a relatively short period of time. 

The golden rule with making money on property is always to buy low and sell high, but there are risk factors that must be considered. Especially if you are a novice investor or renovator, you need to really do your homework and then some. Your ‘flip’ can quite easily turn into a ‘flop’ and a significant financial loss says Joe Santoro of Personal Property Managers.

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.

We suggest that home buyers, should buy with the view to creating security for themselves and their families. Real Estate does present the opportunity to not just grow your personal wealth, but make some nice profits, if you approach it in a careful way.

Some of the popular types of property that house-flippers tend to look for are fixer-uppers and quick sale or distressed properties.

Older, up and coming neighborhoods also tend to be good areas to consider if you want to profit from the property flipping trend. This means that buyers are able to invest in older properties, upgrade these and sell them for a profit.

If you are thinking about getting into the house-flipping trend and want to make it a profitable venture, then consider these 5 top tips:
1. Buy smart
Always do your homework and ensure you buy smart. Investing in property is a costly exercise, especially if your finances are tight. Even if you are flush with cash, you would still want to exercise caution and ensure you understand the area and market that you are investing in. Be sure that there is a demand for the type of upgrades or renovations that you are planning as it does not pay to overcapitalize.

2. Understand the market
It is important to have a good understanding of whether there is a demand for the type of remodeling or upgrading that you are planning. While a smart investor will create the need for his/her property, you are often unfortunately guided by what buyers want and what they are prepared to pay. This means that you need to research the area and market thoroughly and ensure that your plans, asking price and profit expectation match the current market.

3. Start with the end price in mind
Always start with the end price that you may be able to sell your property for in mind. That is, the price right now that you could get in the market given the economic and market cycle. Also be sure to price in line with what the market will pay. Often, investors will overspend on the upgrade of their investment property and then price it at the top end of the market. Top end buyers tend to be few and far between and can be quite discerning and will not pay an inflated price regardless of how fabulous the upgrades are.

4. Renovation costs
Most renovators will tell you that it is almost inevitable that your planned renovations or upgrades will turn out to cost more than initially anticipated. Nonetheless, there are many examples of well-budgeted and planned renovations that have turned older homes and complexes into trendy spaces that have not only attracted buyers, but contributed to upgrading the area.

5. Economic climate and property cycle
Generally, house flipping relies on a strong property market because you would want to get a good price and for this, you need willing buyers and some competition. The economy and property market are cyclical in nature and heavily sentiment driven. This is something that we see right now.

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.