Tag Archives: relocation

8 Steps to begin the Home Downsizing Process – Podcast Episode 13

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

This podcast will share 8 useful tips and steps that you can use to begin the home downsizing and clean out process and how Personal Property Managers can help you. For more information contact Joe Santoro or Nick Santoro of Personal Property Managers at www.personalpropertymanagers.com

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Understanding the Cost of Elder and Senior Care – Podcast Episode 12

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This podcast will share facts and insights into the cost of elder and senior care looking into Assisted Living, Nursing Home and In-Home Care Services and how Personal Property Managers can help fund a loved ones long term care. For more information contact Joe Santoro or Nick Santoro of Personal Property Managers at www.personalpropertymanagers.com

 

Selling your home to millennial and Gen X buyers – Podcast Episode 6

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

92% of all homes purchased in 2019 will be made by millennials and Gen X buyers.  As a home seller, do you understand this trend and how to successfully appeal to them? This podcast will help you understand this new dynamic; why it’s important and how to be successful as home seller or realtor in this market.  For more information contact Joe Santoro or Nick Santoro of Personal Property Managers at http://www.personalpropertymanagers.com

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.

Top 5 Reasons to Buy a House in the Fall and Winter

Top 5 Reasons to Buy a House in the Fall and Winter

Take advantage of buying opportunities. True Bargains exist in the Fall and Winter.

Home Selling Tips PA NJWe are often asked if the fall or winter is the right time of year to buy a house or should a buyer just wait around till the springtime. We have outlined 5 reasons that now is a great time to buy.

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

Fall is here and the days are getting shorter; however, the benefits of buying a home continue to grow. The real estate market reflects the seasons – when the flowers and sunshine appear in the spring, the market starts hopping; and when the days get cooler and leaves start to change, the market starts to slow. A slower market is good for buyers, and here are five reasons why.

1. Price reductions from leftover spring inventory.
Spring is a common time for homes to go on the market. Sellers often list their homes too high to start, which results in a series of price reductions over the next few months. Generally, after Labor Day, sellers’ chances of capturing spring buyers begins to diminish. However, in the fall, buyers are likely to find sellers who are more motivated to sell, which may result in reduced prices, which may be below spring market value.

2. Less is better. There are fewer buyers on the market.
The coming of fall means back to school, sports and extracurricular activities. Families who are in the market for a new home usually aim to be settled by the beginning of the school season, which means they may remove themselves from the market in the fall and winter months. Fewer buyers competing against one another with means more opportunities for bargain buyers.

3. Tax advantages of closing before the end of the year.
A home is a major investment. Therefore, it has tax consequences. If homeowners want take advantage of capital gains or losses during this tax year, they will be motivated to sell. When shopping around, buyers should ask sellers if they are willing to make a deal if closing is before December 31st. Buyers will likely find many sellers eager to do so to get those tax benefits.

4. It’s a hassle for sellers to show a home during the Holidays.
The holidays bring gift giving, cooking, cleaning and entertaining. The last thing sellers want to worry about during this busy time of year is selling their homes and keeping it spotless for possible spur of the moment buyers. If homes are still sitting on the market come November, the homeowners are likely very motivated to sell before the hustle and bustle of the holidays begins.

5. Buyers will see a home’s true colors.
Once a homes pretty landscaping fades in the winter and fall, and the rain and snow set in, a home is truly exposed. Fall and winter are the best times for property inspections, as the weather reveals home flaws. It’s better to see these flaws before making an offer instead of getting unwanted surprises months after closing.

Please contact us for more helpful insights into the real estate market; buying or selling a property, home downsizing, estate sales and property management, please give us a call.

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.

Home Selling Tips for Pet Owners

Home Selling Tips for Pet Owners

If you are selling your home it is very important that you understand how important it is to make your home pet neutral.

Home Selling Tips PA NJIf Home selling tips for pet owners: Removing signs of pets can help a home sell faster and for more money

News flash…although you may love your pet and feel that it’s a part of the family, not everyone may feel the same way, especially prospective home buyers who may be turned off by pet odors, worn yards and scratches on floors and walls. So, what is a home seller with pets to do?

We are sharing insights to pet owners who are trying to sell your home. In fact, we advise animal-owning sellers to rid their home of any evidence of pet damage or animal scents before opening their doors to potential buyers.

Appealing to buyers who may not love pets as much as you do can boost your chances of getting top dollar for your house.

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

Addressing Outside Pet Needs
While a spacious backyard is a plus in the eyes of most buyers, pet-related landmines and holes typically aren’t on a buyer’s list of wants. To get your yard visitor-ready, we recommend filling in any doggy-dug holes and scooping the poop.

Additionally, be sure to check your fencing, deck, and porch for any marks from scratching or chewing. Most pet-related scratches and damage can be easily repaired with a little sandpaper and stain.

Addressing Inside Pet Needs
First impressions are everything, but dog toys and pet odors don’t exactly enhance a home’s initial appeal. Get your home ready by ousting any evidence of pets, including:
• Pet belongings. Collect toys, bowls, beds, crates, cat trees, and litter boxes and keep them out of sight. We even recommend hiding pet photos.
 Scents. Get rid of potentially off-putting animal scents by lighting candles, opening windows, or hiring a professional carpet cleaning crew to deodorize your domicile.
• Scratches. If your hardwood floors have a few battle scars to show for their years of being trodden upon by pets, consider having them resurfaced.
• Remove Your Pet(s). Leaving your pet in the house during showings isn’t the best idea. They could dart out an open door or pose a liability issue if they behave in a less-than-friendly manner toward strangers. If you can’t take your pets with you, let a friend or relative care for them or board them at a kennel.

Please remember that you only have one time to make a good first impression, be that a buyer or with other realtors, so please keep this in mind if you are a home seller with pets. You do not want to sabotage your chances of success by not being mindful of other people’s opinions of pets.

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.

Senior Hoarding – Signs and Game Plan

Senior Hoarding – Game Plan

Recognizing its signs and developing a game plan to address it

Helping Seniors Move in PA NJWe wanted to share with you an often confounding yet common situation when dealing with transitioning an elderly loved one from their home of many years into a senior care community, or perhaps your home or even settling their estate. We are specifically referring to senior hoarding. This is real and the condition is known as Diogenes syndrome, and it is more common than most people realize.

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.

Our senior loved ones are certainly part of the ‘greatest generation’ for sure. They have sacrificed for our nation, fought our wars, defended our freedom, were hard working Americans who put in long hours at work, saved and accumulated things over their lifetime. Now, as their caregiver, you may be faced with dealing with the task of trying to clean-up or sort through what they have accumulated over their lifetime. In many cases, the mass accumulation of things turns out to be senior hoarding. We often find homes with 4 or 5 blenders, toasters, lawnmowers, ladders, boxes of things that have never been opened or things never used and the list goes on and on…

Times have changed. Items that were valuable years ago are no longer desirable. Family members often have no use or desire to bring Grandma’s things to their home. Change can be hard, and sorting through a lifetime accumulation of possessions can be overwhelming to a senior who is already struggling with a loss of independence and to family members who are stressed out.

It is perfectly normal for an individual who has lived for many years in one location to acquire a lot of stuff, and for some individuals, letting go of the things they no longer need can be extremely difficult. Experts say seniors are prone to cluttering for a variety of reasons, including fear of loss, anxiety, and depression. Research also suggests that pre-Alzheimer’s personalities may trigger hoarding behavior, further complicating the issue for those already pre-disposed to this obsessive habit.

For families dealing with loved ones and parents who have slipped into a pattern of hoarding, it can be difficult to develop strategies for the kind of downsizing that is necessary to accommodate a move to senior housing. The individual may be ashamed of their living conditions, and reluctant to accept the help they need. They also may be fearful of being forced to let go of the items to which they have become attached and resist their family’s attempts at getting the clutter under control.

Of course, securing the homeowner’s consent and cooperation is only half the battle. Once you have the go-ahead to begin sorting through the collection, it is important to have a strategy for completing the task at hand. Here are a few suggestions for getting through the cleanup:

Call a professional. At Personal Property Managers, we specialize in helping families take stock of what they have, what is valuable or not and how to declutter. Often, going through an entire household after years of accumulation is simply too much for one person to undertake. Far better to work as a team with a common goal.

Set a date to start the project. Block off a section of your calendar when you can truly focus on the task at hand. Determine how long you will work, and then stick to the plan. You may not make it through the process entirely, but knowing you have a starting time, and a plan to wrap up the day’s work at a specific time, can help keep you on track.

Do it in chunks. Work room by room. Although you may have an entire house to wade through, you will do your best work by focusing on one room at a time. Besides, any large project is easier to complete if you divide it into smaller, more manageable tasks.

Use a system. Focus on the most used items. As you go through each room, set aside a place for each of the following: donations, keepsakes, items to be organized and put away, and trash. At the end of each workday, take time to put away the items you have chosen to keep. Be selective. Remember that you are downsizing, so make your selections carefully. You may actually need to go through this process twice as it is often difficult to make emotional decisions the first pass through.

Think about digitizing boxes and boxes of photos and photo albums.

Have donations and trash picked up promptly to prevent second guessing your selections. The sooner you have temptation removed, the better.

Once the cleanup is complete, check in often to make sure that day-to-day clutter is not getting out of control. Staying on top of the problem is far easier than wading through a year’s worth of accumulation, and maintaining a tidy living space will relieve stress for you and your loved one, as well as make the home safer for its inhabitants.

The good news is that we can help clean-out your house, help downsize family’s homes and liquidate your contents for items that are saleable and in demand. We offer on-site estate sale services and can remove contents and sell them via our array of proprietary resources. 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.