Chuck Romano’s Blog

The market we’re currently in is actually one of the best opportunities for a savvy homeowner looking to move up!  You may be thinking about living in a more desirable neighborhood, a larger or better-appointed house — in any event you’re considering selling your house and “trading up.”  There may be no better time. 

Here’s why!  Trading up is one of the best opportunities of a “Shifting” market.  Concerned about fallen home values?  Here is the most important thing to remember:  The SMALLER LOSS at sale is compensated by GREATER SAVINGS at purchase … and your new home is better positioned for appreciation when the market rebounds. 

Trading up is also the same strategy employed by successful real estate investors.  On average, over 60% of an individual’s net worth is in their home.  Over time, trading up can improve net worth and accelerate the growth rate of our financial bottom line. 

If you or someone you know, would like a confidental consultation please call 215-880-5971 or email me.  Visit my website at ChuckIsMyRealtor.com   

According the Remodeling Online’s 2007 survey in 60 cities across the country, the top 6 mid-range Home Improvement projects that have the highest cost recouped are as follows: 

1. Siding Replacement (cost recouped 94.1%)
2. Wood Deck addition (cost recouped 90.3%)
3. Minor Kitchen Remodel (cost recouped 82.8%)
4. Vinyl or Wood Window Replacement (cost recouped 80.5%)
5. Bathroom Remodel (cost recouped 75.4%)
6. 2-story Addition (cost recouped 73.4%)

These are nationally averaged percentages.  Actual cost may vary depending on the types of material and job cost.  Before you start tackling that high-yield improvement, know that there’s a change you could “over-improve” your home.  For a personal consultation, please call me!  I can give you advice on types of improvements and if they will pay-off in the long-term.  It may interest you to find out what your options are to sell, and then purchase a more upgraded home - saving time, energy and money! 

 Please call me at 215-880-5971 or email! 

An article written on November 12, 2008 on Philly.com touted the region’s real estate market as outperforming many other areas of the country and the nation as a whole in the third quarter of 2008.

The study, which covers our Philadelphia area, Camden and Wilmington as a single entity, said home values in the third quarter fell 5.5 percent from the same perioid of 2007 - slightly more than half that of the United States as a whole in the same time. 

What’s more, just 4.4 percent of area homes bought in the last five years were considered “under water” - meaning that more is owed on them then they could bring if they were sold today.  The national figure for homes with negative equity is 14.3 percent. 

Our Philadelphia area is showing more stability than most other markets.  Indicatores suggest that the area’s value declines may stay relatively small.  The area has a ”healthy five-year annualized appreciation of 6 percent,” compared with 3.4 percent nationally.  

 It seems that Philadelphia may excape the worst of the housing market woes affecting much of the rest of the country. 

Questions about the market in your Neighborhood?  Please call me at 215-880-5971, email or post a comment here!

Existing-home sales increased last month as buyers responded to improved housing affordability conditions.  Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 5.5 percent to a seasonally adjusted annual rate¹ of 5.18 million units in September from a level of 4.91 million in August, and are 1.4 percent higher than the 5.11 million-unit pace in September 2007.

The average home prices and low interest rates have been attracting buyers. “This is the first time since November 2005 that home sales have been above year-ago levels,” says the President of NAR.  Credit tightened at the end of September, but the increase above proves that buyers who have been on the sidelines, want to get into the market to make a long-term investment in their future.

Do you know of anyone currently on the fence about Buying or Selling?  I offer complimentary consultations, which can help you, or someone you know make an informed decision in today’s market.  I’m always grateful for your confidence in me, and promise to take great care of anyone you refer to me.  Please call or email me whenever I can be of assistance. 

Assuming you are armed with a down payment and a mortgage pre-approval, the next step is finding a house that will best meet your needs. 

The first thing you want to do is select the areas you would consider.  You may want to factor in preferred School district, distance to work, proximity to family members, etc.  Once you’ve selected the area(s) you want to target, you will need to refine the search parameters somewhat.  

Begin by making a check-list of your needs vs. your wants.  For example, you need 3 bedrooms, but a fourth would be nice.  You need a 1-car Garage, but 2-car would be nice.  With a  list of your minimum must-haves, I can get you set up to receive Automatic Listings sent to your email each morning - it’s easy and FREE!  All I need to do is plug in your basics and the system does the rest.  Each day you’ll receive detailed information of any new listings that come on the market.  You will only get the homes that meet your criteria, in the areas of choice, with your specifications, in the price range you are in.  It doesn’t get easier than that! 

Once you start receiving the matches, you can rate them at your leisure.  Things to consider and compare while narrowing down your choices may be:  the size of the home, size of the yard, floor plan and overall condition.  You may also want to drive by the home to check out the appearance of the neighborhood, amount of traffic and the general surrounding area.  If a property looks of interest to you, just call me and we can schedule a good day and time to tour it in person! 

Please contact me by phone at 215-880-5971 or email your list of specifications.  I look forward to assisting you, or any of your coworkers, friends or family members with the sale or purchase of a home!  Chuck Romano

*** Your local Real Estate expert *** I specialize in residential Real Estate sales, investment opportunities, light commercial sales and rental properties.  I’m also currently marketing a brand new Townhome community in Lansdale called Providence Reserve – Upper Gwynedd Township, just minutes from Merck! 

Want a little history on me?  I’m a long-time resident of the Hilltown / Perkasie area.  Prior to selling Real Estate, I owned and operated a successful collision repair shop in Sellersville for 24 years, called Chuck’s Collision Dynamics.  I’ve always been a genuine “people person” and have had the distinct opportunity to meet hundreds of individuals from all walks of life over the years.  So, when I decided to sell my auto body business, Real Estate seemed to be a natural course of action for me.    

After operating at both Century 21 and Re/Max offices over the years, I ultimately accepted an ownership position with the Keller Williams Montgomeryville office, where I continue to build my Real Estate practice today!  I’ve helped hundreds of people complete successful real estate transactions — and I’m proud to say that most of my business comes by way of referrals from satisfied clients. 

I would like to extend a special thank you to clients and friends who recommend my Real Estate services to their friends, family and co-workers — and simply saying “Chuck Is My Realtor“.    I’m always available by phone at 215-880-5971 or email as well!

For those who are not familiar with what a BLOG is:  you might think of it as an inter-active journal of sorts — each topic has a date, and will offer you Real Estate news, advice, useful information and links that will keep you coming back for more.  Post your own comments or questions to me on any of the topics you see.  I’ll be monitoring the posts, starting new dialogue and creating a real sense of community here!  I look forward to seeing some of YOUR comments!  Please email me or feel free to call anytime 215-880-5971.  Visit my website to see all Featured listings and search virtually all homes available for sale:  www.ChuckIsMyRealtor.com