Tag Archives: joesantoro

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.

Advertisements

We buy homes for cash, as is…

We Buy Houses in ANY Situation

We Buy Houses in Pennsylvania and New Jersey. We have built a reputation for helping homeowners get rid of their properties quickly and easily. If you are looking to sell your house fast and want to avoid the hassles of working with demanding buyers or avoid agent fees, then Personal Property Managers is the solution you have been looking for.

We’re honest, fair and easy to work with. We focus on win-win deals. We’ll do our very best to help you in any way we can.

Investment Property Bookkeeping Accounting PA NJ

Are you:

  • An executor of an estate
  • A Power of Attorney caring for an elderly loved one who needs immediate funding for their long term care
  • Recently inheriting a property
  • Unable to sell your house dispite it being on the market for a long time
  • Stuck with the purchase of another property and still unable to you’re your old one
  • Behind on payments (or about to be)
  • In need of getting out from underneath your huge monthly mortgage payments
  • Facing foreclosure
  • Going through a divorce or separation
  • Moving or relocating
  • Facing bankruptcy
  • Tired of ownership or on-going landlord headaches
  • Just sick of property ownership and just want to sell your property… now

Don’t worry. We can help. We are the one-stop solution you’ve been looking for. We buy houses anywhere in Southeastern Pennsylvania in the counties of Bucks, Montgomery, Philadelphia, Delaware, Chester and the Main Line. In New Jersey we buy homes in the counties of Hunterdon, Mercer, Monmouth, Morris, Middlesex, Union, Ocean, Burlington, Essex and Somerset and more.

Let’s Get Started – How the Process Works

Step 1 to Buy House for Cash

Tell us about your PA or NJ property – Quick, Easy & Free!

Step 1 to Buy House for Cash

If it meets our buying criteria, we’ll contact you to set up a quick appointment to view the property.

Step 1 to Buy House for Cash

We’ll present you with a written, no-obligation offer.

Step 1 to Buy House for Cash

You choose the closing date! We close at a local closing attorney, and can close within a time period that is convenient for you.

Our goal is to help make your life easier and get you out from under the property that’s stressing you out… while still paying a fast, fair, and honest price for your house.

What Do You Have To Lose? Get Started Now… Or Give Us a Call Now at: 215-485-9272 or 908-368-1909.

FAQ

How does your program work?
It’s not really a program. Each property is unique, each homeowner has different needs and challenges, and we provide customized solution to meet your individual situational needs. You let us know what your situation is, and we’ll fill in the details. It’s that simple!

How much do you charge?
We are free! We are fair and we are honest. We make our money by buying your property, investing in updating it, fixing needed repairs and then reselling it for a modest profit.

What types of properties do you work with?
We work with all types of properties, including:

  • Single Family Homes
  • Multi-Family Homes
  • Condos & Town homes
  • Rental Properties
  • Homes in need to updating or numerous repairs
  • Older homes or newer homes

What sets you apart from a real estate agent?
Great question! First of all, we are BUYING your property AS IS. No need for a thorough downsizing, cleaning it out and cleaning it up, or staging, or worrying about all the little details that a new homeowner would demand. And secondly, there are no listing fees.

What sets you apart from other homes for cash companies?
We have been in business for over a dozen years. We are an award winning service disabled veteran owned company and most of all we are fair and honest. There are no hidden fees. We let you know right up front what your options are. What the overall condition of your property is and the cost to repair or invest in upgrades and then based upon that, we provide you an honest / common sense all cash offer, that is hassle free which allows you to move on from an often overwhelming and challenging situation.

How long do I have to move out?
How long do you need? We can set our closing date as far out as needed. One of the benefits of working with us is that you can choose when you want to move out.

How fast can you close?
On average, we close between 30-90 days. Much of it depends upon evaluating the property, conducting market comps, assessing what may be needed to address repairs or updates and getting a clear title. BUT, if you need to close ASAP and the numbers work out, we have built a team that can close much faster.

What do you need to know in order to buy my house?
We can get started with just some basic information about your house. Like: Its address; How many bedrooms? How many bathrooms? Is there a garage? Is the basement finished? What is the overall condition of the property? What style of house it is: single family, townhouse, condo, etc.? Is there a mortgage on it and if so, how much? Who the deeded owner of the property is? Is there a clear title without liens?

How do we get the process started?
It is as simple as clicking on the contact us button on this page or calling us at 215-485-9272 or 908-368-1909.

Think about your options… then consider Personal Property Managers

Estate Sale Services Pennsylvania (PA)You can get rid of the headache of that property fast and avoid paying on-going utility bills, tax bills, insurance bills, mortgage payments and more. You get the drill. If you list your house and wait 90+ days to close… you have to figure in all of the costs of holding that property during the time you have that property listed and are waiting for the property to close.

Don’t worry about fixing anything up or cleaning your house again and again for buyer after buyer We do not care how dirty your house is (we’ve seen worse!) or how many repairs are needed. This saves you time and money that you can keep in your pocket.

Because we are a full-service professional homebuyer in PA and NJ, we make it easy for you. What we offer you is what you get (of course minus any mortgage payoff or other encumbrances on the property and related closing cost).

So when you add up the time you could save by working with Personal Property Managers, the no-hassle experience, and the money you’ll save on commissions, fees, and holding costs while you wait to sell the traditional route… for many area home owners selling to Personal Property Managers may the best viable option.

Repairs, Renovations, Updating and Clutter:

We Buy Houses for Cash, Pennsylvania & New JerseyIs Your Property In Need Of A Renovation?
We often help people who tell us: “I need to sell my home but it needs so much work and I don’t have the money or time to deal with it.” A house requires constant upkeep and maintenance to keep it in top condition. This isn’t an easy task with your busy life.

Typical Household Repairs
Houses that haven’t been updated in years often need lots of work. Most of the homes we buy require renovations that cost $50,000 to $100,000. This is what you can expect to spend on the most common repair items. The prices below are the mid point of a range that depends on the size of your home and the extent of the renovations needed. What does it cost to renovate a house in PA or NJ?

Average Repair Items and related costs:

  • New roof: $10,000 to $18,000
  • Update kitchen: $15,000 to $40,000
  • Update bathrooms: $15,000 to $30,000
  • Paint interior: $10,000 to $20,000
  • Paint exterior: $5,000 to $10,000
  • New HVAC system: $10,000 to $15,000
  • Flooring – hard wood or carpeting: $7,500 to $12,500
  • Landscaping: $3,000 to $10,000

We believe in honesty and in full transparency. At Personal Property Managers, after we conduct an evaluation of your property, and look at its overall condition, along with the work that will be necessary to meet local code repairs and upgrades, plus assess market comps, we will make you a fair and reasonable offer to purchase your property. We think that you will agree that this is simple, fair and just makes common sense. However, we offer other benefits that going the traditional house sale route cannot offer. So,if you need a quick and hassle-free solution then Personal Property Managers is the one-stop solution you have been looking for. Call today to put your worries behind you.

For more information please contact Nick Santoro or Joe Santoro of Personal Property Managers at 215-485-9272 or 908-368-1909. Learn more about Personal Property Managers from our recent News Stories.

The cost for caring for our aging loved ones

Caring for our Aging Population

Who will care for our aging loved ones in our new society

Bucks County Home Downsizing

Helping Seniors Move in PA NJThe fact that we are all living much longer is no secret. With our extended longer life come new challenges. In years past, when lifestyles were less complicated, family units were more defined, and marriages and families with children dominated the landscape. Caring for our aging loved ones was easier with more defined roles by spouses and children.

Times have certainly changed. Studies indicate that people over the age of 65 will need some form of long-term care help. Genworth, a leading US company that studies our aging population says that 66% of people over 65 will need extra care. In fact, they say that 70% of this age group will need some form of long-term care for at least three years. It the past, most aging loved ones relied on a family member, a spouse or a partner for help. But what happens today with family and demographic changes, when an individual has none of the above? Who can they count on for help in an emergency or when they get sick?

This is part of a continuing series of articles and tips into elder care and how to address topics such as downsizing, estate sale, content removal, home clean-out, property sale, moving and other real estate transition insights by Nick Santoro and Joe Santoro of Personal Property Managers. Personal Property Managers services Pennsylvania and New Jersey.

Many aging Americans who have children don’t want to be a burden to them, but at least they are lucky enough to have a choice. They may not want to, but older adults rely on family caregivers most of their help. Today, there are over 43 million family members providing some form of elder care for a person 50+ years of age. The 2010 U.S. Census reported that 11 million people over the age of 65 live alone, and that number will likely increase. Even more alarming is that 11.6% of women (ages 80 to 84) are childless, so who will care for them?

Today, society has a totally different view of people without children verses 25 years ago. Many of today’s adults no longer believe that those without children lead empty lives. Recent surveys found that children are less significant to a thriving marriage. In 2007, a Pew Research survey unveiled 41% of adults said that having children was crucial for a successful marriage. This is a huge decline from 65% who said so in 1990.

Since the supply of family caregivers diminish as families get smaller or without children, it’s important to get organized around ones long-term care preferences.

PPM Insights into Elder Care

We at Personal Property Managers, often work within the Senior Community and with Adult Care Givers. We specialize in senior transition services, helping our elderly loved ones transition from their home of many years into senior care communities or to move in with caregivers or other family members. This process if often very overwhelming and our one stop services are valued by those going through a major move and transition. We have learned that there are significant facts about aging care that every person should know and wanted to share them with you. First, what we have learned is that elder care is more expensive than you think. And most of the costs of long-term care come out of your pocket and not through some government or state program. To help you plan for senior care later on, you should understand the details about the services that are and are not covered.

1. Medicare (controlled by each state) does not pay for long-term custodial care services. This is the kind that help you with everyday activities of living needs. Medicare only pays for the medically necessary care like acute medical care, doctor visits, drugs, and a hospital stay.

2. Medicaid is a combined program offered by the federal and state governments. It helps individuals living with low income and assets, and it pays for some of the health care expenses. Medicaid has stringent regulations on who are eligible for the benefits and the services covered.

3. Paying for long-term care out-of-pocket is your option if you have enough money and savings.

4. Health insurance covers the restricted and particular types of long-term care. Disability insurance replaces income and does not include long-term care services and supports.

5. Long-term care insurance pays for long-term supports and services. But before you buy a policy, know the daily amount it will pay to assist you with the activities of daily living requirements.

While we are certainly not insurance agents or elder care attorneys, we do, a large portion of our business assisting adult caregivers in the transition of their elderly loved ones from their home of many years into a senior care communities via our home downsizing, cleanouts, estate sales, and full service discount real estate services. We would like to share with you some tips that we have learned along the way that may help you in your long term care plan. They are:

• Draw up legal documents: a will, a living will, a healthcare proxy and a power of attorney.

• Share a home with like-minded friends and siblings. Create a “share the care” approach that serves each resident equally. Draw up legal papers outlining each person’s responsibilities; one that makes each party accountable.

• Live nearby mass transportation if you don’t drive.

• Choose a walk-able neighborhood.

• Find a trustworthy person or family you can depend on for support and care. Work out a payment strategy and put it in writing. Get legal advice prior to implementing a plan. An elder law attorney can steer you in the right direction.

• Hire a chronic care advocate if you live with a prolonged medical condition, preferably an attorney specializing in elder law.

• Make friends with the supportive type.

• Eat fresh, healthy foods.

• Stay fit.

• Keep your brain sharp by getting involved.

• Volunteer and help those in need.

• Take up hobbies that fulfill your curiosity.

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 Every Home Realty. Learn more about Personal Property Managers from our recent News Stories.

How to Simplify your Life by Downsizing

How to Simplify your life by Downsizing – How to begin the process

Five Important Family Tips for Helping Seniors Clean, Organize and Downsizing their Home

Bucks County Home Downsizing

Helping Seniors Move in PA NJSimplify your life by downsizing – what you may be missing and beginning the process

Moving from your home often represents an emotional time in one’s life. Each room in the house and all its contents are associated with memories, which makes packing especially bittersweet. However, for those who are craving a more relaxed lifestyle, downsizing offers a variety of benefits.

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.

First, remind yourself why you’re considering to downsize and move. The upkeep on a large home can become quite expensive, even after the mortgage is paid in full. When big-ticket items like new windows or a roof are needed, these repairs can quickly add up. Additionally, you realize that you have more space than you can possibly use and easily maintain. After children move out, there are often rooms that are used strictly as storage space, hardly ever to be set foot in again. Plus, it’s important to consider that the upkeep of a large home can easily become overwhelming in later years when tasks like raking leaves in the fall, cleaning a home top to bottom, and shoveling snow can become challenging or even dangerous.

After downsizing from your large home into a more suitable size to meet your current needs or moving into a senior living community or retirement neighborhood, most folks report a decrease in their stress levels. Many now have peace of mind knowing that they have less space to clean or living quarters all on one level. For those who move into a senior community this may include home maintenance which may now be the responsibility of someone else. For others who move into an assisted living community there is also comfort knowing that their future health care needs will also be met. Better yet…for many senior a downsizing move can lead to an opportunity to enjoy life-long learning and social networking where they can continue to grow relationships with others who share their interests is often a major perk

Joe Santoro shares that his parents who recently moved into an active adult community says that, “..every time I visited my parents I got the sense that my parents are having the time of their lives. There are so many activities within the community that even simple tasks like going to get their mail was an excuse to check in with their neighbors and hear all the latest news.”

Knowing When the Time is Right for Downsizing a Home
Considering a move to a senior living community before it becomes medically necessary is a smart decision that can help keep individuals as they continue down the path of aging. Joe points out that his parents did not realize all they are missing out on until they visited the community that they now live in.

5 Downsizing Tips for Seniors
After making the decision that it’s time to downsize and enjoy all that a retirement or senior care community has to offer, Joe points out that you must start preparing for moving day. It’s important to keep in mind that downsizing means not all belongings may be able to be brought to the new home. That’s where Personal Property Managers with its single source solution can help. PPM provides home cleanout, de-cluttering, estate sales and full service real estate services. For families considering downsizing, Joe says that you should keep the following tips in mind:

1. Ask for assistance. Start the process by asking family and friends for help. This may not be possible for many due to the mobile society we live in and the physical demands that a downsize can take. That’s were Personal Property Managers can help. Remember, moving can take a toll on even those in the most optimal health. You may also be surprised to learn the emotional attachment your adult children or grandchildren may have to certain items. Enjoy sharing memories with them as you go through the house together.

2. Keep the memories, not the items. Parting with belongings can be difficult due to the memories associated with them. You’ll need to make decisions about what to keep, what to donate to charity, what items to designate to family members, and what can simply be tossed.

3. Take your time. Packing up a home for a move is a challenging task for even the most able-bodied person. Therefore, keep in mind that it is probably not possible to go through the entire household in a single day – or even a week! As soon as the decision to downsize has been made, start sorting through smaller areas, like closets, drawers and storage spaces to quickly weed out items.

4. Write out lists. Lists are a great way to create a timeline and stay organized throughout the downsizing process. Make lists of rooms to go through and lists of items to pack, as well as lists for tasks like cancelling utilities and transferring mail.

5. Create a plan. Having a plan for moving day helps eliminate a lot of the stress of the day, so if possible, get a floorplan of the new living space. Knowing the exact dimension of the rooms helps map out what furniture can go where, as well as how much storage space is available.

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 Every Home Realty. Learn more about Personal Property Managers from our recent News Stories.

Challenges in working with aging parents

How to Work with Your Aging Parents – 5 Insights

Dealing with challenges involved with our aging parents.

Bucks County Home Downsizing

Helping Seniors Move in PA NJOf all the fine lines we have to walk in our lifetime, one of the most challenging, yet most important, is how we deal with the challenges that inevitably crop up when working with our aging parents.

Everyone’s circumstances and family dynamics are different, of course, but there are certain commonalities. Chief among them is how to provide help, support and comfort while respecting our parents’ intellect and abilities. Even as the roles shift, they’re still our parents, and no matter how wise or experienced we are, to them, we’ll always be “the kids.”

We specialize in working with families and adult children who are managing the transition of thier elderly parents. We have learned a thing or two over the years and wanted to share these insights with you. We have put together list of the top 5 tips you may want to consider when working with your agents parents. These helpful tips are part of a continuing series of articles by Nick and Joe Santoro of Personal Property Managers. Personal Property Managers specializes in real estate sales, real estate transition services, property management and content clean-out services in Pennsylvania and New Jersey.

As our parents age and need more and more help, it’s natural to want to lend a hand, but when you get involved, you need to make sure that you don’t become domineering.

Seniors who feel like their children are trying to take over their lives get resentful and angry – and as a result often disregard their help just to spite them or assert their independence.

This is why it’s important that as our parents age and do start to lose some of their abilities, we stay aware of how we’re communicating with them. Nothing presses our buttons more than family.

While this kind of behavior feels most inappropriate with our parents, being respectful and mindful of boundaries are actually the cornerstones of all healthy relationships.

Stepping Up vs. Overstepping Boundaries

So where exactly is the line between being “helpful” and turning into a bully? Sometimes when you do what you feel is needed – arrange a doctor appointment, suggest grab bars – your parents will resent your good advice. People have a fierce desire to remain independent, often even though they really do need assistance.

Add to that the difficulty of accepting the shifting reality of who is now caring for whom. This can be more difficult for our parents to accept because they often view it as “losing power” to their children.

A big part of striking the right balance has to do with how we speak and act. It’s imperative that we show respect, not attempt to force our will, and to make everything a negotiation (or at least offer options).

5 Things Adult Children and Parents Fight About

It boils down to this, if you think your parents can do something by themselves, let them. But if they – or someone else – could be harmed, don’t feel guilty about getting involved. Most seniors who are slipping a bit are lucid enough to recognize their new limitations. they’re looking for someone they trust to make things easier for them.

Here are five of the big issues that are likely to come up, plus suggestions for avoiding conflict.

1. Driving

Nothing gives people a greater sense of independence than driving. A car gets them where they want to go when they want to go. Yet in the hands of someone with physical or cognitive limitations, an automobile can become a lethal weapon.

One must be extremely sensitive when you come to the point where you insist that your parent hand over the keys. Consider trying initially to negotiate ways they can drive their car less frequently – perhaps only locally and in the daylight. Elderly people who have become nervous drivers and don’t feel they have to put up a fight often discover they actually prefer not being in the driver’s seat.

2. Finances

This is a very sensitive subject and is often met with great resistance. Unfortunatley there are many stories of financial abuse of our elderly loved ones.

The best way to approach this is to suggest that our elderly loved ones open their checkbooks and show us their credit card statements and all their bills. But if they’re unwilling and you try to force the issue, they might accuse you of meddling. When there’s no evidence of a problem, it’s better to just offer help – like balancing a checkbook. Keep your antennae up for hints of trouble.

If you suspect they are mismanaging their resources and they resist your involvement, tell them you need to call in a social worker. It might be easier for your parents to listen to a neutral third party, and a trained professional might have communication or coping strategies that you don’t.

3. Home Safety

People can be slow to accept their physical limitations. If they’ve always gotten in and out of the shower OK, why worry now? The answer is that we all have a problem projecting in the future, yet for people over 65, falls are the leading cause of injury and death. When a parent is having problems with gait or limb strength or has recently started using a walker or cane, it’s time to start the conversation.

So how should you handle this? Often scare tactics go a long way. The image of lying alone, in grave pain, injured (or possibly dying) alone in the living room might be enough to “put the fear of God” into a parent who perfers not to discuss such issues. Often times elderly loved ones wouldn’t wear their life-alert pendant until they hear about someone who fell and waited several hours for the ambulance to arrive.

Most people will accept minor fixes, like rug tape or bathtub no-slip strips, so if you start with the little things (and build up to the larger ones), you won’t come off as oppressive.

4. Doctors, Treatments and Medication

Seniors are not always forthcoming about their medical reports. Sometimes they haven’t completely understood what a doctor has said, or they could be deliberately withholding information they think will make them seem enfeebled or cause you to worry.

If your parent seems healthy you may want to consider backing off (but keep a watchful eye). If, however, you observe any symptoms or notice your parent is missing doctor appointments, getting confused with his medications and won’t let you help, call in a social worker or nurse. Tell your parent you are doing so. In a life-or-death matter, there’s no such thing as a bossy pants.

5. End-of-Life Planning

No one likes to think about this heaviest of all topics – and yet if people want their wishes heeded, important documents need to be in place: a power of attorney, a last will and testament, a living will, organ donation papers, funeral preferences and more.

How to handle You cannot force your parents to do any of these things or tell you where they keep the safety deposit box key.

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 Every Home Realty. Learn more about Personal Property Managers from our recent News Stories.

How to begin Downsizing your Home

How to Begin Downsizing Your Home

4 Quick Tips

Bucks County Home Downsizing

Home Staging Tips PA NJThe vast majority of the clients who contact us are simply overwhelmed trying to tackle downsizing their home or the home of a loved one. It is physically and mentally draining. Often it entails going through possessions that have been in the house for 40 plus years. Where do you begin?

This is part of a continuing series of articles and helpful tips and insights into helping you move forward and sell your home and clean out your contents by Nick Santoro and Joe Santoro of Personal Property Managers. Personal Property Managers specializes in real estate sales and marketing, home downsizing, content clean out and removal and estate sales, and services Pennsylvania and New Jersey.

Moving from your home of 20, 30 or 40 years is a daunting task. Often our client tell us it’s an “oh my gosh moment” – where do I begin? This is where we can help you.

Did you know that downsizing and moving ranks as one of lifes most difficult events, along with loss of a spouse, divorce and job change. People feel overwhelmed, and wonder; where do they even start?

At Personal Property Managers, we understand the emotional toll downsizing and moving can take on our clients and their families. If you are moving from your home of many years into a senior care community or just relocating, our goal is to help you transition seamlessly to this exciting new chapter in life.

Nick Santoro says that of the many challenges of moving, downsizing is the most difficult. Nick says the reason for this is that you have to make decisions about every personal possession in your home. Personal Property Managers is at your side helping you every step of the way.

Santoro suggests viewing downsizing as a process. We suggest that you start with small goals, and plan on sorting for just a few hours at a time.

  1. Sorting through the easiest and obvious first. Choose a room where what needs to go or stay is the most obvious – like your bedroom or a room that’s rarely used.
  2. Using colored stickers, labels or Post-It notes to identify where items will go. More efficient than writing out a list, movers and family members can use the stickers as guidance on moving day.
  3. Assessing practicality and sentimentality. Items that are both practical and sentimental should move with you. Items that are neither should be left for family, sale or charity.
  4. Eliminating duplicate items or items that are the wrong size. Chances are, you only need three sets of towels, not six. If clothing does not fit, do not bring it with you.

Before the move, Santoro recommends creating a floor plan and determining the practicality of existing furniture. Nick says, do not go out and buy new furniture. Instead, be open to using furniture in new ways.”

Taking measurements of available space is also important. Virginia, a recent client said, “We had large paintings that we really loved, but did not think we could bring with us. Nick had our floor plan and measurements and said, “Oh, yes we can. I know just where those paintings can go!’”

“It’s the sentimental items that make a house a home,” Nick reminds our clients. “Those are just as important as packing up your sensible shoes and kitchenware.”

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 Every Home 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

Bucks County Home Downsizing

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 Every Home Realty. Learn more about Personal Property Managers from our recent News Stories.