Tag Archives: property

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

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.

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.

How to Financially plan for your aging Parents

How to Financially plan for your aging Parents

Helping Seniors Move in PA NJHow to be financially prepared when your parent needs long term care

Are you the caregiver of a senior loved one? Have you ever wondered how expensive the cost of long-term senior care is for your elderly loved? Do you have any idea how much the average cost is for a nursing home or an assisted living community or the cost of in-home care services?

What about financially preparing for the care of an elderly loved one. How about documents? Do you even know what documents you will need when the time comes? Do you know what sources of income your elderly loved ones have?

This is part of a continuing series of article and helpful tips and insights into senior care and senior transition services by Nick Santoro and Joe Santoro of Personal Property Managers. Personal Property Managers specializes in senior transition services such as downsizing, content clean out and removal, estate sales, full service real estate and property sale and moving.

We’d like to share with you some recent information conducted by Genworth Financial about the cost of caring for our seniors. We think this will not only be informative but a real eye opener.

This year’s annual cost-of-care survey shows that the national, median annual cost for care in an assisted-living facility is about $42,000.

The average cost of an assisted-living facility nationwide has increased 4.29% annually over the past five years, according to the study.

Nationwide, the cost for a private nursing home room rose about 4.2% annually over the past five years to $87,600.

This is part of an 11 year study surveying about 15,000 providers of long-term care services nationwide.

About 70% of people older than 65 will need some form of long-term care services, but costs for those services have been rising for years. The average length of a long-term care claim is about three years.

The median cost of a private bedroom in an assisted living facility now stands at about $47,880. The cost of a private room in a nursing home has increased 3 percent to $84,315.

Costs for adult day care and home care have grown at slower pace of about 1 percent to 2 percent. The median cost for in-home health aide services now runs about $43,472 a year, while the cost of adult day care services cost about $15,860.

Nationally, the 2014 median hourly cost for the services of a homemaker or in-home health aide hired from a home care agency is $19 and $19.75, respectively.
The real challenge is how to pay for the long term care of our elderly.

Coordinating Alzheimer’s and long terms care for your parents or an elderly loved one is difficult, and the last thing you want is to have to deal with a financial hardship. Elder care is expensive.

Examine their financial situation

Assets and income: As precisely as possible, estimate your parent or parents’ net wealth and income. This means considering the total value of their home, their bank accounts, investment funds or individual investments they own, and income they receive from jobs, annuities, or other sources. It also requires that you calculate the value of their debts and current expenses, and subtract these values from their assets and income, respectively. Not only does this tell you how much you can afford to pay for their care, but it also will let you know whether your parent qualifies for benefit programs, such as Medicaid.

Power of attorney: If they haven’t done so already, your parent must assign power of attorney for finances, or the right to make financial decisions on their behalf. This does not necessarily need to be you, but it should be someone whom they trust, who is familiar with their finances, and who is good at managing multiple assets. You should also have a backup person to exercise power of attorney if their first choice cannot.

A living will: Your parent may want to earmark some of their assets for specific purposes other than elder care. If this is the case, they should do so ahead of time in a living will. Otherwise, you may end up selling such assets and spending the money on their care.

These financial preparations go hand-in-hand with other aspects of elder care planning. You should assign financial power of attorney, for example, at the same time that you assign power of attorney for healthcare. The better you coordinate all these activities, the easier it is to develop a clear, realistic plan for your parent’s care.

Identify sources of income

Once you have a detailed picture of your parent’s finances and desires, the next step is to make up any difference between their money and the likely cost of their care. There are many different income sources available for senior care expenses, including:

• Long-term insurance: If your parent has an insurance policy that specifically provides benefits for long-term care, you may be able to use it to pay for their housing or other elder care costs. Most such policies have strict daily, monthly or lifetime caps on spending, however, so this likely won’t cover your parent’s care by itself.

• Medicaid: Medicaid will cover some of the largest expenses involved in Alzheimer’s care, including custodial care, or care that involves helping your parent bathe, dress, and eat. To qualify, your parent must have less than $2,000 total in assets that can be counted. The only exception is if they receive such care from their spouse in their own home, in which case they can own up to $115,920 along with the home itself, a car, and wealth stored in certain trusts.

• Life insurance withdrawals: If your parent owns a life insurance policy, they can withdraw the base value of premiums they paid without paying taxes on it. You can then spend this on elder care.

• Veteran’s benefits: If your parent served in the military and was discharged honorably, they likely qualify for benefits from the VA. They can use these benefits in any of the 1,300 facilities across the country that the VA recognizes.

• Tax savings: If you take over a significant portion of your parent’s care, you can claim them as a dependent. Depending on your income, this will likely save you thousands of dollars, which you can put toward that care.

Most importantly, don’t wait. Trying to make the best financial decisions when coordinating care is challenging and waiting can be costly to your family.
Personal Property Managers, LLC (www.personalpropertymanagers.com ) can help you in the process of asset liquidation and moving. At Personal Property Managers we specialize in downsizing, content removal and liquidation, Real Estate / property sales and moving. With one call, Personal Property Managers does it all.

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.

We buy homes for Cash

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:

We Buy Houses for Cash in PA NJ

  • 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.


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

Profiles of Today’s Homebuyers and Homesellers – 2018

Property Manager PA NJToday’s Homebuyer and Home Purchaser Profiles for 2018

Are you thinking about selling your home in 2018? If so, the market has shifted dramatically over the past several years. It is totally different than it was years ago. Today’s buyers are not apt to want to spend a lot to time and money to fix up and or rehab a house as they were in the past. Why? Because today’s home buyers are more in debt and are more time challenged than years ago. They are looking at things from a return on their investment of time and money. Today’s buyers are looking for homes that are in move-in condition. For today’s sellers this is important to understand. If a sellers home is not updated and in move in condition, then it needs to be priced commensurate with the upgrades that will be needed from a buyer perspective. In other words, the listed home selling price must be discounted to reflect the amount of time and money a home buyer will need to put into the house and also factor in that today’s buyers simply do not want to do the work that may be needed. Properly pricing a home to meet today’s buyer needs are desires is one of the most important considerations that a home seller should consider.

With this said, with the help of our friends at the National Association of Realtors, we’d like to share with you important profiles of today’s buyers. We are sharing this information with you with a keen eye on looking at things from various generational buyers perspective.

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, senior transition services, property management and estate sales.

Home Buyer Profiles for 2018:

• 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.

Buyers 36 years old and younger made up the largest generation of homebuyers in 2016 at 34%.

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….

In 2016, the majority of recent homebuyers were married couples, and buyers 37 to 51 had the highest median household income at $106,600

Buyers 37 to 51 (Gen Xers), consists of 28% of recent homebuyers. They are consistent with their buying trends and demographics. Notably, they are also the most racially and ethnically diverse population of homebuyers, with 21% identifying they are a race other than White/Caucasian. Buyers 37 to 51 are in their peak earning years and thus their incomes are the highest among all generations of buyer types at $106,600. They are both the generation most likely to be married and most likely to have children under the age of 18 in their home. Their housing preferences are driven by these demographics. Buyers 37 to 51 have the highest median priced homes of all other buyers and buy the largest homes in median square footage and bedrooms. Their neighborhood choices are driven by their convenience to job, but also the quality and convenience of school districts.

Buyers 52 to 61 (Younger Baby Boomers) and buyers 62 to 70 (Older Baby Boomers) were broken into two separate categories as they have differing demographics and buying behaviors. Buyers 52 to 61 consist of 16% of recent buyers and buyers 62 to 70 consist of 14% of recent buyers. Buyers 52 to 61 have higher median household incomes and are more likely to have children under the age of 18 in their home. Buyers 52 to 61 are also more likely to buy a multi-generational home. As the sandwich generation, they are nearly equally likely to buy this type of home for both children over 18 living at home and caretaking for aging parents. Buyers 52 to 61 buy for an array of reasons such as a job-relocation, desire for a smaller home, and the desire to be closer to friends and family. Buyers 52 to 61 also project the length of time they will live in their home is the longest at 20 years. Buyers 62 to 70 are often moving due to retirement, desire to be closer to friends and family, and desire for a smaller home. Buyers 62 to 70 typically move the longest distance at a median of 25 miles and are least likely to make compromises on their home purchase.

Characteristics of Homes Purchased

Buyers of new homes made up 14% and buyers of previously owned homes made up 86%. For buyers 36 years and younger, 11% bought new homes again this year. New home purchased increased with age, 15% for buyers 37 to 51 years and 21% for those 71 to 91 years.

Most recent buyers who purchased new homes were looking to avoid renovations and problems with plumbing or electricity at 34%. Buyers who purchased previously owned homes were most often considering a better price at 32%. For buyers 36 years and younger, 48% bought new homes to avoid renovations and problems compared to 18% of buyers 71 years and older. 35% of buyers 62 to 70 years bought previously owned homes to receive a better overall value.

The most common type of home purchased continues to be the detached single-family home, which made up 83% of all homes purchased compared to 87% of buyers 37 to 51 years and only 65% for buyers 71 years and older.

Senior-related housing increased slightly this year to 14% of buyers over the age of 50; that number was 7% for buyers 52 to 61 years and 24% for buyers 71 years and older.

The typical home that was recently purchased was 1,900 square feet, had three bedrooms and two bathrooms, and was built in 1991. The size of homes purchased by buyers aged 37 to 51 years old was typically larger homes at 2,100 square feet, compared to buyers 36 years and younger, and for buyers aged 71 years and older, they purchased homes at a median of 1,800 square feet. For buyers 36 years and younger, the median home that was purchased was built in 1984; for ages 62 to 70, the median home that was purchased was built in 1998. For homebuyers over 71, the median home that was purchased was built in 1999.

Heating and cooling costs were the most important environmental features for recent home buyers, with 84% finding these features at least somewhat important.

For buyers 36 years and younger, commuting costs were more important that heating and cooling costs at 39% and 31% respectively. Compared to buyers 62 years through 70, commuting costs was listed as very important to only 12% whereas heating a cooling accounted for 34%.

Overall, buyers expect to live in their homes for a median of 12 years, while 18% say that they are never moving. For buyers 36 years and younger, the expected length of time is only 10 years compare to 20 years for buyers 52 to 61 years.

At Personal Property Managers, we use all this information and all these statistics to help our seller clients understand today’s market and whom they are marketing to, along with the taste that today’s buyers desire.

A cluttered home will have a negative appeal and will turn off today’s buyers.

A home that has not been updated or has dark colors, wallpaper, older kitchens and bathrooms will be a turn off to a whopping 92% of today’s buyers. This is very important to understand. Today’s sellers need to factor this into the selling price and adjust it accordingly.

The good news is that at Personal Property Managers, one call does it all. We can help with selling a home. Downsizing and de-cluttering it. Liquidating its contents and getting it market ready for sale. We have a strong following of interested buyers and can help our clients in many different home buying and selling avenues.

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.

Maximize Results with home decor tips for homebuyers and homesellers

Selling a house? Flipping a house? Home Decor tips to maximize results

 Property Manager PA NJSelling or Flipping a House? House decor tips to attract today’s buyers.

If you are a homeowner or a house flipper thinking of renovating your home with the aim of selling down the line, there we have some hands on tips that are an absolute must have for today’s buyers that you should pay attention to.

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, senior transition services, property management and estate sales.

Top tips for today sellers to factor in to appeal to todays buyers:

Keep it simple

If you are going to renovate the kitchen and bathrooms, white and light grays are always a safe bet, says Joe and Nick Santoro of Personal Property Managers.
For the kitchen, think simple; like white Shaker-style cabinets. “Nobody wants ornate moldings” on the cabinets, Nick Santoro says. Brushed-nickel knobs, light-colored quartz countertops and stainless steel appliances work well for most people, he says. In the bathroom, you can’t go wrong with white subway tile.

You’ll want to appeal to today’s buyers, who for the most part are what is described as ‘minimalists;’ clean, simple, not cluttered and not busy, Santoro says.

Remove wallpaper

We have found that if a house has wallpaper, it must go; it must be removed. It is dated and too busy for today’s buyers.

“When people walk into a home with wallpaper, all they see is dollar bills,” says Joe Santoro. They begin to think immediately about…“How much will it cost to take it off?”
We advise that sellers paint walls neutral colors to make rooms look larger and feel more contemporary.

Our most recent house flip achieved rapid success by painting the whole house in light grays and whites and staging it with furniture. There were multiple offers during the first week and it was on the market for less than two weeks.

“It made a world of difference,” Santoro says. “The buyers of today, the millennials (age 36 and younger) simply have no time” to plan and undertake renovations.

Remove carpeting

Buyers see carpeting in much the same way they see wallpaper: as something they will have to remove. The longer it stays on, the more damage it can do to your floors, the Santoro’s warns. “When wall-to-wall carpet is removed in heavily trafficked carpeted areas we see the backing of the carpet and the foam padding sticking to the wood floors,” Nick says. After removing carpeting, refinish the floors and stain with a low-gloss finish.“It will bring a renewed life to your home,” Joe says.

Small Touches help

If kitchen and bathroom renovations aren’t in the budget, pay attention to the small details, such as the condition of your front door, the doorbell, curb appeal and the mailbox, the Santoro’s say.

Explore new light fixtures and floor-to-ceiling drapery. “LED lighting is an inexpensive way to brighten up and cheer up any space,” Joe says. If a home has built-in furniture from the 1980s, Nick Santoro suggests taking it out and getting inexpensive modern pieces.

The Santoro’s say regular upkeep goes a long way. “If you invest in it and keep it on trend, your investment will pay off,” Nick says. Or don’t renovate — and price accordingly.

Joe Santoro cautions that if a home needs work and the owners need to sell quickly, he will tell the client to set the asking price to reflect the home’s condition.
“A lot of times we just tell them to not do anything,” Joe says. “It’s easier to take the numbers off of the price.”

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 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.