How to Determine a Good Agent from a Bad One

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Not all real estate agents are created equal. When seeking the help of an agent, you need good information before deciding to make a move. Picking the right agent to give you that information is a critical issue that can cost or save you thousands on a transaction.  

 There are some specific questions you should be asking any agent before you hire them, and today we are going to provide you with some of the best ones to get you started.  Here they are:

1. What makes you different and why should I list my home with you?
Ask them about the programs and systems they have in place to help your home stand out from the crowd and what they offer that other agents don't. 

2. What is your company's track record and reputation in the marketplace?
You should be asking the agent how many homes they have sold in the last 12 months. If they are selling a lot, they are doing it right. Many agents sell fewer than 10 homes a year, making it difficult for them to give your home an effective online profile.

3. What are your marketing plans for my home?
Ask them how much they spend on advertising and marketing, and through what medium. Do they know about the effectiveness of one medium over another?

There you have it, the top 3 questions to ask your agent. If you'd like to know the other 7, click here to request all 10 questions or just give me a call or send me an email. I'd be happy to share them!

Why Now Is the Time to Buy in Philadelphia

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A lot of my clients have been asking whether we're in a buyer's or a seller's market. The answer to this is that we're actually in a rather balanced market, and you'll find that if a home is priced correctly it will sell quickly. Not only are most homes that are priced right selling quickly, they are also receiving multiple offers. 

As we head into the spring market, we're finding that inventory levels are still low, and when you couple this with ridiculously low interest rates (3.75%), it makes buying a home very appealing. Most buyers will find that they can pay less in a mortgage than what they pay for rent. 

Other good news for buyers is that the FHA recently lowered the PMI payment rate. If you put less than 20% down on a home, you're forced to pay insurance to the lender in case you default on the loan. The drop in premiums for mortgage insurance will boost your buying power even further, allowing you to purchase homes that you would not have been able to before. This reduction can save you $60 per month, and nearly thousands of dollars over the life of your loan.

If you need any assistance buying or selling a home in Philadelphia, please don't hesitate to contact me. Market conditions are absolutely perfect for buyers right now.