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Home Kathy McGuriman, CRS, SRES, ACRE Realtor for Lansdale, PA area

Kathy McGuriman, CRS, SRES, ACRE Realtor for Lansdale, PA area

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REMODELING AND UPGRADING - RETURN ON INVESTMENT MATTERS

02-02-12
Kathy McGuriman, CRS, SRES, ACRE Realtor for Lansdale, PA area
lansdale remodel
Are you thinking of making some upgrades to your Lansdale home this year? ROI (return on investment) matters. When you think about doing any remodeling or upgrading to your Lansdale home, do what makes sense for your lifestyle and your budget. But if you have thoughts of selling your Lansdale home any time in the near future, think about what will give you the best ROI. Check out Remodeling magazines Cost vs. Value for your part of the country.
Are you thinking of sprucing up your outdoor space, like I am? It's time for me to invest in a new deck or patio. The average backyard deck costs $10,000, this will recoup nearly 70% of your investment. When considering the materials, choose wood over composite, which recoups nearly 10% more.
Garage makeovers are a good idea too. Replacing a garage door, costs less than $2000 and again will recoup nearly 70% of that investment. No garage? Leave it alone. The average garage will cost $58,000 and only recoups 57% on a resale.
Minor projects? Window replacements - 70% ROI, Siding replacement - 72% bathroom upgrade - 62% ROI, Entry Door - 97% ROI
Is it worth it? Backup power generator - 45% ROI, Bathroom addition - 48% ROI, Family room addition - 55% ROI
These costs are based on Mid-Atlantic mid-range remodeling numbers. Again, check out Remodeling magazine for your area. It's always a good idea to research before remodeling your Lansdale home.
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LANSDALE REAL ESTATE MARKET UPDATE - DECEMBER

01-31-12
Kathy McGuriman, CRS, SRES, ACRE Realtor for Lansdale, PA area
Units Sold - with relatively few transactions, there was an increase in total units sold in December, with 31 sold this month in Lansdale. This month's total units sold was lower than at this time last year, a decrease from December 2010.
Active Inventory - The total number of homes available this month is 264 units, which is similar compared to a year ago. This month's total of 264 is lower than the previous month's total supply of available inventory of 298, a decrease of 11%. Decrease could be attributed to seller's removing their properties from the market for the holidays.
Median Sale Price - Last December, the median sale price for Lansdale homes was $244,250. This December, the median sale price was $240,000, a decrease of 2% or $4250 compared to last year. The current median sold price is 6% lower than in November.
Units Sold
31		 Active Inventory
264		 Median Sale Price
$240,000		 Days On Market
86
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down
Vs. Year Ago		 No Change
Vs. Year Ago		 Down -2%
Vs. Year Ago		 No Change
Vs. Year Ago
Months of Supply - In December, there was 8.5 months of supply available in Lansdale, compared to 4.9 in December 2010. That is an increase of 75% versus a year ago.
New Listings & Current Contracts - This month there were 32 homes newly listed for sale in Lansdale compared to 22 in December 2010, an increase of 45%. There were 24 current contracts pending sale this December compared to 33 a year ago. The number of current contracts is 27% lower than last December.
Sale Price to List Price Ratio - In December, the average sale price in Lansdale was 97.6% of the average list price, which is 1.9% higher than at this time last year.
Days on Market - This month, the average number of days on market was 86, which is similar compared to a year ago.
New Listings
32		 Current Contracts
24		 Sold Vs. List Price
97.6%		 Months of Supply
8.5
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 45%
Vs. Year Ago		 Down -27%
Vs. Year Ago		 Up 2%
Vs. Year Ago		 Up 75%
Vs. Year Ago
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PROTECT YOUR CREDIT - AVOID IDENTITY THEFT

01-17-12
Kathy McGuriman, CRS, SRES, ACRE Realtor for Lansdale, PA area
PROTECT YOUR CREDIT - AVOID IDENTITY THEFT
Avoid Identity Theft
There are a lot of misconceptions on how your identity can be stolen. Here are some basic tips on how to protect it.
  • Buy a shredder
  • Monitor your credit report annually www.annualcreditreport.com It's free. I always check my credit when I file my taxes.
  • Secure your mail. have it delivered to and mailed from the post office or a secured mail box. If your mail sits in a mailbox at the end of your driveway all day while you are at work, it can fall in the wrong hands
  • Go green - get paperless statements for bank documents, credit card statements, etc.
  • Electronic keypad signatures - add the date to the end of your signature
  • Never list your social security number and never carry it with you
  • Destroy all statements and solicitations by shredding and not just throwing away
  • Don't leave paper trails; take all gas and ATM receipts with you
  • Always review your statements - make sure all of the charges are yours.
  • Know who you are dealing with and don't give out personal information over the phone and be very careful on the internet
  • Know your statemment arrival dates so that if your bills aren't there you can call the company. Better yet, go green and be paperless
  • Remove bar codes from magazines and shred them.
  • Keep your medical insurance cards safe. Medical ID theft is the newest wave of identity theft.
  • If you pay your bills by check, put your work phone and address on your checks and not your personal information
  • Shred your hotel keys after use. Don't leave in the hotel or throw out
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WHAT IS AN REO PROPERTY AND SHOULD I BUY ONE?

01-12-12
Kathy McGuriman, CRS, SRES, ACRE Realtor for Lansdale, PA area
What is an REO Property?
REO is real estate owned, typically real estate owned by a bank or loan insurer. Property becomes REO after an unsuccessful foreclosure sale, meaning it didn't sell at the sheriff's sale, so it is now in the bank's ownership. Very few foreclosure or sheriff auctions result in a sale. Typically what is owed on the property is more than the property is worth. When ownership reverts to the bank, the bank will remove all loans, liens and debts on the property and try to resell it to the public.
You are interested in buying a bank owned (REO) property:
Hire a realtor. It's a great idea but you should know the facts. After possession by the bank and removal of all liens, the bank may make some repairs that are immediately necessary. You should know the current market value of homes that are comparable. Factor in any necessary renovations and repairs that are needed to the property. This will determine a fair price to pay for the home. I recommend hiring a realtor who is a local expert.
Your realtor should find out: have there been any inspections?, are there any special forms the banks requires?, how long will the bank take to accept an offer?,
Banks want to get the best price possible for the home. They have no interest in selling real estate cheaply. They have investors, auditors and shareholders to answer to. You may receive a counter offer. Discuss with your realtor whether you should accept or counter the counter-offer. Always allow time to hear from the bank. In most cases, banks have REO departments and you may receive an answer within 48 hours. Every bank is different, so don't be surprised if it takes longer.
Banks sell properties in as-is condition, so you should have an inspection. Banks will allow you to have an inspection but they will most likely not make any repairs. Your contract should allow for an inspection contingency. A bank may re-negotiate if there are extensive repairs to save the sale, but it's best not to rely on that.
Your realtor will put together the necessary paperwork for this transaction. Contracts are the same for a "normal" resale, with the exception of any required paperwork by the bank. If you are getting a mortgage you will need a pre-approval from your lender. If you are paying cash, you will need to show proof of funds (or where your cash is coming from).houses
It can be a very good way to buy property. This is just a brief explanation. Your local realtor can help answer any questions you may have.
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LANSDALE RESTAURANT OF THE WEEK - HUEY'S

11-07-11
Kathy McGuriman, CRS, SRES, ACRE Realtor for Lansdale, PA area
RESTAURANT OF THE WEEK
Huey's Grill and Tavern
Great small town bar and restaurant with an atmosphere that can not be topped. The MOST ecclectic collection of area and philly memorabilia. A must to come during Halloween and Christmas to see the abundance of decorations. There is not a corner not decorated.
The food is always very good. You can get your traditional sandwiches or bar food, but there are great dinner items as well. My fav....the buffalo shrimp appetizer. My dinner choice is usually either the blue cheese burger or the Greek salad. My hubby's fav...chicken nachos.
And of course, here is a shout out to all the waitresses and bartenders that work there. Always a fun place to go.
Sorry folks, no website. But that's ok:
839 W Main St Lansdale, PA 19446 215-362-0460
Open for lunch and dinner.
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