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Extended Homebuyer Tax Credit Questions
Extended Homebuyer Tax Credit Program Questions/Answers Helpful real estate advice brought to you as a public service by Coldwell Banker Select Professionals and the Lancaster County Association of Realtors®. We’ve been getting a lot of questions lately about the Extended Homebuyer Tax Credit program which ends on April 30, 2010. In addition to first-time homebuyers, the extended credit program is also available to current homeowners who meet the criteria. Read on and if you have other questions please call us at 717-569-0608 to speak with a REALTOR®. What is the program? The Worker, Homeownership, and Business Assistance Act of 2009 extended the tax credit of up to $8,000 for qualified first-time home buyers AND also authorized a tax credit of up to $6,500 for qualified repeat home buyers. Who qualifies for the extended credit? First-time home buyers who purchase a home by April 30, 2010 are eligible. To qualify as a “first-time home buyer,” you or your spouse may not have owned a residence during the three years prior to the purchase. Current home owners purchasing a home by April 30, 2010 who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight are also eligible. *What kinds of properties are eligible?* The Extended Home Buyer Tax Credit may be applied to primary residences, including single-family homes, condos, townhomes, and co-ops, purchased for $800,000 or less. *How is the amount of the tax credit determined?* The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000/$6,500. *What is the income limit?* According to the IRS, the full credit is available to single buyers with modified adjusted gross incomes (MAGI) up to $125,000, or $225,000 for joint filers. Those with MAGI between $125,000 and $145,000, or $225,000 and $245,000 for joint filers, are eligible for a reduced credit. Those with higher incomes do not qualify. See IRS Form 5405 for more details. *Can you still qualify if you close after April 30, 2010?* As long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close. *When can the credit be claimed?* For all qualifying purchases in 2010, home buyers have the option of claiming the credit on either their 2009 or 2010 tax returns. *Will the tax credit need to be repaid?* No. You don’t need to repay the tax credit if you live in the home for three years or more. However, if the property is sold during this three-year period, the full amount of the credit will be recouped on the sale.
Post added 23rd Feb, 2010Tags: Extended Homebuyer Tax Credit Questions Answers

Extended Homebuyer Tax Credit Questions

Extended Homebuyer Tax Credit Program Questions/Answers

Helpful real estate advice brought to you as a public service by Coldwell Banker Select Professionals and the Lancaster County Association of Realtors®.

We’ve been getting a lot of questions lately about the Extended Homebuyer Tax Credit program which ends on April 30, 2010. In addition to first-time homebuyers, the extended credit program is also available to current homeowners who meet the criteria. Read on and if you have other questions please call us at 717-569-0608 to speak with a REALTOR®.

What is the program?
The Worker, Homeownership, and Business Assistance Act of 2009 extended the tax credit of up to $8,000 for qualified first-time home buyers AND also authorized a tax credit of up to $6,500 for qualified repeat home buyers.

Who qualifies for the extended credit?
First-time home buyers who purchase a home by April 30, 2010 are eligible. To qualify as a “first-time home buyer,” you or your spouse may not have owned a residence during the three years prior to the purchase.

Current home owners purchasing a home by April 30, 2010 who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight are also eligible.

What kinds of properties are eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including single-family homes, condos, townhomes, and co-ops, purchased for $800,000 or less.

How is the amount of the tax credit determined?
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000/$6,500.

What is the income limit?
According to the IRS, the full credit is available to single buyers with modified adjusted gross incomes (MAGI) up to $125,000, or $225,000 for joint filers. Those with MAGI between $125,000 and $145,000, or $225,000 and $245,000 for joint filers, are eligible for a reduced credit. Those with higher incomes do not qualify. See IRS Form 5405 for more details.

Can you still qualify if you close after April 30, 2010?
As long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

When can the credit be claimed?
For all qualifying purchases in 2010, home buyers have the option of claiming the credit on either their 2009 or 2010 tax returns.

Will the tax credit need to be repaid?
No. You don’t need to repay the tax credit if you live in the home for three years or more. However, if the property is sold during this three-year period, the full amount of the credit will be recouped on the sale.

Post added 23rd Feb, 2010Tags: Extended Homebuyer Tax Credit Questions Answers

Cartus Relocation Acquires Primacy Relocation
Coldwell Banker’s relocation company, Cartus, has acquired Primacy Relocation to put them at a 40% market share of the relocation market in the US. Realogy, the parent company of Coldwell Banker, has announced that Cartus, its relocation services subsidiary, has acquired Primacy Relocation. Based in Memphis, Tenn., Primacy is a prominent relocation and global assignment management company with 700 employees and 25 offices worldwide. Effectively, two of the leading relocation companies in the world are joining forces under the Realogy umbrella.
Post added 25th Jan, 2010Tags: cartus relocation primacy coldwell banker

Cartus Relocation Acquires Primacy Relocation

Coldwell Banker’s relocation company, Cartus, has acquired Primacy Relocation to put them at a 40% market share of the relocation market in the US.

Realogy, the parent company of Coldwell Banker, has announced that Cartus, its relocation services subsidiary, has acquired Primacy Relocation. Based in Memphis, Tenn., Primacy is a prominent relocation and global assignment management company with 700 employees and 25 offices worldwide. Effectively, two of the leading relocation companies in the world are joining forces under the Realogy umbrella.

Post added 25th Jan, 2010Tags: cartus relocation primacy coldwell banker

2010 Mortgage Outlook

False Illusions and What You Need to Know

Homebuyer Alert…

For prospective homebuyers who are on the fence about making a home purchase, the next few months represent a countdown of sorts for two reasons.

The first of these, the coming expiration of huge tax incentives, may be a bit more obvious to most borrowers. April 30, 2010 is the last day to enter into a home purchase contract and still potentially qualify for a federal income tax credit of up to $8,000 for first-time homebuyers and up to $6,500 for repeat homebuyers. The credit can be claimed only on contracts that close by June 30, 2010.

Secondly, beyond the waning benefit of the Federal income tax incentive, another form of stimulus will soon disappear, as the Federal Reserve winds down a program that has been keeping home loan rates artificially low.

Rate Alert…

The lowest rates of 2009 were driven down to their attractive levels because of the Fed’s Mortgage Backed Securities (MBS) purchase program. Home loan rates have an inverse relationship with the value of MBS. When these securities trade higher on the market, rates move lower and vice-versa. So when the Fed originally agreed to be a big buyer, it helped provide a market for MBS, which helped keep prices high and, as a result, helped push home loan rates low.

And while the Fed continues that program through the end of March 2010, the reality is that the Fed‘s “extension” was really more of a rationing intended to prevent home loan rates from spiking as the program is phased out. It’s sort of like weaning the market off of its life-saving treatment instead of forcing it to go cold turkey.

Already, some in the media have mistakenly reported the extension of the program through March as good news, telling consumers that rates will continue to decline, and remain low into the spring. This gives a false sense of security that homebuyers and refinancers simply cannot afford.

The problem is…

Those reports do not accurately report what’s going on or where rates are really headed. That can have a very costly impact on consumers who may miss out on historically low rates if they listen to these media outlets.

Here’s what’s really going on…

In May 2009, the Federal Reserve's purchases of MBS peaked at an average of $25 Billion per week. As of November, the average weekly purchases dropped down to $14 Billion. At the end of November, the Fed had already used over 80% of the allocated funds for MBS, meaning less than 20% remained to be used over four months.

Making the problem worse is that the Fed now has less money available to purchase MBS while at the same time, the supply of these securities has increased as a result of refinance and purchase activity that was triggered by lower rates.

Why is that important?

As the Fed now has fewer funds to last through the remaining months of the program, its ability to keep rates low will wane.
As the Fed's program winds down and ends, we’ll likely see two things happen.

First, we will probably see higher levels of volatility—with rates sometimes shifting dramatically in the middle of the day. That means it is more important than ever for buyers to work with a knowledgeable mortgage professional who has a finger on the pulse of the market at all times and can provide trusted, proven advice.

Second, since MBS will have less support from the Fed, rates are likely to rise over time.

In short, while rates are still very good, they may not be for long.

What should you do to protect yourself?

First and foremost, work with a knowledgeable mortgage originator who studies and monitors the market.

Second, don’t be fooled by media stories that only report the headlines and don’t understand the underlying implications of the Fed’s actions. If you ever hear something in the news but aren’t sure what it means to your situation, feel free to call or email me for in-depth answers and advice.

Finally, if you haven't yet explored how the current rate environment might benefit you or someone you know, let’s arrange a time to sit down and discuss your unique situation as well as your short- and long-term goals. Remember, rates are still very good, but they may not be for long.

Ron Felpel, Home National Mortgage

Post added 23rd Dec, 2009

Investor Seminar Sponsored by Coldwell Banker Select Professionals
Purchase Real Estate with your IRA/401k. Coldwell Banker Select Professionals presents FREE seminar on self-directed IRAs. Coldwell Banker Select Professionals is hosting a free seminar on how you purchase real estate with your IRA. The seminar will feature Carl Fischer from Entrust Cama and will take place on December 16 from 6-8 PM at the Coldwell Banker Select Professionals Lancaster office located at 1000 N Prince Street, Lancaster PA 17603. At the seminar you will learn how you can use your IRA/401k funds to purchase all types of real estate including land, apartment buildings, commercial property, condos, and more! You can use your retirement funds for Limited Partnerships, Precious Metals, LLCs, and many other types of investments. It is a common misconception among Americans that the only investments allowed in a retirement account are stocks, CDs, and mutual funds. The truth is that broader investment options have been available to the public since 1975, the year contributions could first be made to IRAs. Come to the seminar to find out how you could enhance your retirement portfolio with the addition of real estate. Call 717-569-0608 or email IRA@cbselectpros.com to RSVP for this event.
Post added 20th Nov, 2009

Investor Seminar Sponsored by Coldwell Banker Select Professionals

Purchase Real Estate with your IRA/401k. Coldwell Banker Select Professionals presents FREE seminar on self-directed IRAs.

Coldwell Banker Select Professionals is hosting a free seminar on how you purchase real estate with your IRA. The seminar will feature Carl Fischer from Entrust Cama and will take place on December 16 from 6-8 PM at the Coldwell Banker Select Professionals Lancaster office located at 1000 N Prince Street, Lancaster PA 17603.

At the seminar you will learn how you can use your IRA/401k funds to purchase all types of real estate including land, apartment buildings, commercial property, condos, and more! You can use your retirement funds for Limited Partnerships, Precious Metals, LLCs, and many other types of investments. It is a common misconception among Americans that the only investments allowed in a retirement account are stocks, CDs, and mutual funds. The truth is that broader investment options have been available to the public since 1975, the year contributions could first be made to IRAs.

Come to the seminar to find out how you could enhance your retirement portfolio with the addition of real estate. Call 717-569-0608 or email IRA@cbselectpros.com to RSVP for this event.

Post added 20th Nov, 2009

College Towns are Undiscovered & Affordable Markets for Home Buyers
Home Buying 101: Coldwell Banker Real Estate Annual Listing Finds College Towns Are Undiscovered, Affordable and Stable Markets For Home Buyers *Coldwell Banker College Home Price Comparison Index: Average Four-Bedroom Home Costs Less Than $250,000 in 62 Percent of College Markets Surveyed* PARSIPPANY, N.J. (Nov. 5, 2009) – Every fall, college football fans feel nostalgic for the tradition, lifestyle and spirit of their college towns as they cheer on their favorite teams. This year’s Coldwell Banker® College Home Price Comparison Index (HPCI) reveals that these school-centric areas also sport very affordable homes, in addition to the culture and economic stability associated with higher education institutions – making them great areas to purchase real estate. The annual College HPCI released by Coldwell Banker Real Estate LLC provides an apples-to-apples comparison of similarly sized 2,200 square foot, four-bedroom, two-and-a-half bathroom homes in college markets home to the 120 Football Bowl Subdivision schools. This year, Akron, Ohio (University of Akron) is ranked as the most affordable college town, where a typical four-bedroom home costs $121,885. Muncie, Ind. (Ball State University) took the No. 2 spot at $144,996. Ann Arbor, Mich. (a quintessential college town home to the University of Michigan) came in as the No. 3 most affordable college market, where the sample size home only costs $148,000. Overall, the 2009 College HPCI revealed that real estate buyers can find a typical four-bedroom home for less than $250,000 in 62 percent of the college markets surveyed (72 total), including iconic American college towns such as: - Syracuse, N.Y (Syracuse University): $171,711 - South Bend, Ind. (University of Notre Dame) $183,938 - Athens, Ga. (University of Georgia): $205,862 - Oxford, Miss. (University of Mississippi): $212,000 - Knoxville, Tenn. (University of Tennessee): $223,850 Further research indicates that the charm and affordability of college towns is appealing to more than just students. According to the U.S. Census Bureau's 2008 American Community Survey; Austin, Texas (University of Texas), Provo, Utah (Brigham Young University), and Raleigh, N.C. (North Carolina State University) were among the metropolitan cities with the greatest population growth in 2008. In all three rising cities, home buyers can find a four-bedroom home for very a reasonable price; only $226,642 in Austin; $231,000 in Provo; and $241,462 in Raleigh. “College markets have long-been one of the real estate industry best-kept secrets,” said Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate LLC. “Real estate professionals have been investing in college towns for years, often purchasing homes for their children who are attending school. However, these vibrant cities are not only for students; many empty nesters and families are attracted to the health care systems, culture and overall quality of life that college towns offer.” While real estate in college markets may be an undiscovered gem, pride for teams and alma maters are definitely not under-wraps, regardless of how pricey the school or city. For an added perspective, Coldwell Banker asked fans to share “what’s best” about living in their college towns for its new Coldwell Banker On Location video: http://www.youtube.com/watch?v=E0S7eKOih7k. More expensive college towns are also worth the investment for many people. For example, students have been competing for years to get accepted into prestigious schools like Stanford University, despite its high tuition and cost of living. Located in the most expensive college market in the nation (Palo Alto, Calif.), an average 2,200 square foot home costs a whopping $1.49 million. The Coldwell Banker College HPCI specifically examines the home markets in 120 Football Bowl Subdivision schools. Additional information about this year’s College HPCI and the original Coldwell Banker HPCI study, which ranked 315 markets across the U.S. and Puerto Rico in affordability for the same 2,200 square-foot subject home, is available at http://hpci.coldwellbanker.com. 2009 Coldwell Banker College HPCI – Highlights & Interesting Real Estate Related Facts: - This year, there is a $1,367,841 price difference between the sample size four-bedroom home in the most affordable college town (Akron, Ohio) and most expensive college market (Palo Alto, Calif.). - Five schools with football-teams-to-watch this year currently ranked in the BCS top 25 standings are also front-runners for home buyers: - Fort Worth, Texas (Texas Christian University), $153,450 - Houston, Texas (University of Houston), $159,847 - Cincinnati, Ohio (University of Cincinnati), $189,750 - Boise, Idaho (Boise State University), $215,432 - Iowa City, Iowa (University of Iowa), $217,500 - The Mid American Conference is the most affordable conference overall, where a typical four-bedroom home costs an average of $182,322. The top 10 most affordable college markets for home prices in 2009 are: #1 - University of Akron Akron, Ohio $121,885 Average Home Price #2 - Ball State University Muncie, Ind. $144,996 Average Home Price #3 - University of Michigan Ann Arbor, Mich. $148,000 Average Home Price #4 - Eastern Michigan University Ypsilanti, Mich. $151,500 Average Home Price #5 - Texas Christian University Fort Worth, Texas $153,450 Average Home Price #6 - University of Tulsa Tulsa, Okla. $154,800 Average Home Price #7 - University of North Texas Denton, Texas $154,900 Average Home Price #8 - Rice University & University of Houston Houston, Texas $159,847 Average Home Price #9 - Indiana University Bloomington, Ind. $164,433 Average Home Price #10 - Kent State University Kent, Ohio $165,700 Average Home Price
Post added 6th Nov, 2009

College Towns are Undiscovered & Affordable Markets for Home Buyers

Home Buying 101: Coldwell Banker Real Estate Annual Listing Finds College Towns Are Undiscovered, Affordable and Stable Markets For Home Buyers

Coldwell Banker College Home Price Comparison Index: Average Four-Bedroom Home Costs Less Than $250,000 in 62 Percent of College Markets Surveyed

PARSIPPANY, N.J. (Nov. 5, 2009) – Every fall, college football fans feel nostalgic for the tradition, lifestyle and spirit of their college towns as they cheer on their favorite teams. This year’s Coldwell Banker® College Home Price Comparison Index (HPCI) reveals that these school-centric areas also sport very affordable homes, in addition to the culture and economic stability associated with higher education institutions – making them great areas to purchase real estate.
The annual College HPCI released by Coldwell Banker Real Estate LLC provides an apples-to-apples comparison of similarly sized 2,200 square foot, four-bedroom, two-and-a-half bathroom homes in college markets home to the 120 Football Bowl Subdivision schools. This year, Akron, Ohio (University of Akron) is ranked as the most affordable college town, where a typical four-bedroom home costs $121,885. Muncie, Ind. (Ball State University) took the No. 2 spot at $144,996. Ann Arbor, Mich. (a quintessential college town home to the University of Michigan) came in as the No. 3 most affordable college market, where the sample size home only costs $148,000.

Overall, the 2009 College HPCI revealed that real estate buyers can find a typical four-bedroom home for less than $250,000 in 62 percent of the college markets surveyed (72 total), including iconic American college towns such as:

- Syracuse, N.Y (Syracuse University): $171,711

- South Bend, Ind. (University of Notre Dame) $183,938

- Athens, Ga. (University of Georgia): $205,862

- Oxford, Miss. (University of Mississippi): $212,000

- Knoxville, Tenn. (University of Tennessee): $223,850

Further research indicates that the charm and affordability of college towns is appealing to more than just students. According to the U.S. Census Bureau's 2008 American Community Survey; Austin, Texas (University of Texas), Provo, Utah (Brigham Young University), and Raleigh, N.C. (North Carolina State University) were among the metropolitan cities with the greatest population growth in 2008. In all three rising cities, home buyers can find a four-bedroom home for very a reasonable price; only $226,642 in Austin; $231,000 in Provo; and $241,462 in Raleigh.

“College markets have long-been one of the real estate industry best-kept secrets,” said Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate LLC. “Real estate professionals have been investing in college towns for years, often purchasing homes for their children who are attending school. However, these vibrant cities are not only for students; many empty nesters and families are attracted to the health care systems, culture and overall quality of life that college towns offer.”

While real estate in college markets may be an undiscovered gem, pride for teams and alma maters are definitely not under-wraps, regardless of how pricey the school or city. For an added perspective, Coldwell Banker asked fans to share “what’s best” about living in their college towns for its new Coldwell Banker On Location video: http://www.youtube.com/watch?v=E0S7eKOih7k.

More expensive college towns are also worth the investment for many people. For example, students have been competing for years to get accepted into prestigious schools like Stanford University, despite its high tuition and cost of living. Located in the most expensive college market in the nation (Palo Alto, Calif.), an average 2,200 square foot home costs a whopping $1.49 million.

The Coldwell Banker College HPCI specifically examines the home markets in 120 Football Bowl Subdivision schools. Additional information about this year’s College HPCI and the original Coldwell Banker HPCI study, which ranked 315 markets across the U.S. and Puerto Rico in affordability for the same 2,200 square-foot subject home, is available at http://hpci.coldwellbanker.com.

2009 Coldwell Banker College HPCI – Highlights & Interesting Real Estate Related Facts:

- This year, there is a $1,367,841 price difference between the sample size four-bedroom home in the most affordable college town (Akron, Ohio) and most expensive college market (Palo Alto, Calif.).

- Five schools with football-teams-to-watch this year currently ranked in the BCS top 25 standings are also front-runners for home buyers:

    - Fort Worth, Texas (Texas Christian University), $153,450
    - Houston, Texas (University of Houston), $159,847
    - Cincinnati, Ohio (University of Cincinnati), $189,750
    - Boise, Idaho (Boise State University), $215,432
    - Iowa City, Iowa (University of Iowa), $217,500

- The Mid American Conference is the most affordable conference overall, where a typical four-bedroom home costs an average of $182,322.

The top 10 most affordable college markets for home prices in 2009 are:

#1 - University of Akron
Akron, Ohio
$121,885 Average Home Price

#2 - Ball State University
Muncie, Ind.
$144,996 Average Home Price

#3 - University of Michigan
Ann Arbor, Mich.
$148,000 Average Home Price

#4 - Eastern Michigan University
Ypsilanti, Mich.
$151,500 Average Home Price

#5 - Texas Christian University
Fort Worth, Texas
$153,450 Average Home Price

#6 - University of Tulsa
Tulsa, Okla.
$154,800 Average Home Price

#7 - University of North Texas
Denton, Texas
$154,900 Average Home Price

#8 - Rice University &
University of Houston
Houston, Texas
$159,847 Average Home Price

#9 - Indiana University
Bloomington, Ind.
$164,433 Average Home Price

#10 - Kent State University
Kent, Ohio
$165,700 Average Home Price

Post added 6th Nov, 2009

Home Sales In York Drop In September
According to the York Dispatch, the number of homes fell between August and September, but the drop matches the trend of last year. See the full article here. "I always think that the last three to four weeks before kids start school, there's always that funky little time," RAYAC president Patricia Carey said. "Showings drop off. People might just be getting ready for school to start. There are last-minute vacations." The York PA real estate market is off about 6% for the year, according to the stats reported in the newspaper.
Post added 15th Oct, 2009

Home Sales In York Drop In September

York PA real estate, York PA homes for sale, York PA school districts According to the York Dispatch, the number of homes fell between August and September, but the drop matches the trend of last year. See the full article here.

"I always think that the last three to four weeks before kids start school, there's always that funky little time," RAYAC president Patricia Carey said. "Showings drop off. People might just be getting ready for school to start. There are last-minute vacations."

The York PA real estate market is off about 6% for the year, according to the stats reported in the newspaper.

Post added 15th Oct, 2009

Coldwell Banker #1 Again...
J.D. POWER AND ASSOCIATES RANKS COLDWELL BANKER HIGHEST IN HOME SELLER SATISFACTION PARSIPPANY, N.J. – Sept. 17, 2009 – Coldwell Banker Real Estate LLC ranked highest among real estate companies in satisfying home sellers according to the recently released J.D. Power and Associates 2009 Home Buyer/Seller StudySM. “This recognition is a testament to the brand’s legacy as an industry leader, our commitment to innovation and, above all, our powerful network,” said Jim Gillespie, president and CEO of Coldwell Banker Real Estate LLC. “With unsurpassed local knowledge, expertise and work ethic, we at Coldwell Banker have always felt that our network of professionals is the greatest in the industry, and we’re pleased J.D. Power and Associates recognized it.” The independently administered study measured customer satisfaction of homebuyers and sellers among the largest national real estate firms. The study incorporates more than 3,100 evaluations from 2,801 respondents who bought or sold a home between April 2008 and June 2009. The survey was fielded between April and June 2009. J.D. Power and Associates examined four factors in the home-selling experience including: agent; marketing; office; and package of additional services. Among home sellers, Coldwell Banker Real Estate ranked highest with a score of 815 and performed particularly well in all four factors. Coldwell Banker Real Estate also ranked particularly high in the home-buyer segment. The brand ranked second with a score of 801 on a 1,000-point scale, performing particularly well in the office factor. Complete results for the study can be found here
Post added 14th Oct, 2009

Coldwell Banker #1 Again...

J.D. POWER AND ASSOCIATES RANKS COLDWELL BANKER HIGHEST IN HOME SELLER SATISFACTION

PARSIPPANY, N.J. – Sept. 17, 2009 – Coldwell Banker Real Estate LLC ranked highest among real estate companies in satisfying home sellers according to the recently released J.D. Power and Associates 2009 Home Buyer/Seller StudySM.

“This recognition is a testament to the brand’s legacy as an industry leader, our commitment to innovation and, above all, our powerful network,” said Jim Gillespie, president and CEO of Coldwell Banker Real Estate LLC. “With unsurpassed local knowledge, expertise and work ethic, we at Coldwell Banker have always felt that our network of professionals is the greatest in the industry, and we’re pleased J.D. Power and Associates recognized it.”

The independently administered study measured customer satisfaction of homebuyers and sellers among the largest national real estate firms. The study incorporates more than 3,100 evaluations from 2,801 respondents who bought or sold a home between April 2008 and June 2009. The survey was fielded between April and June 2009.

J.D. Power and Associates examined four factors in the home-selling experience including: agent; marketing; office; and package of additional services. Among home sellers, Coldwell Banker Real Estate ranked highest with a score of 815 and performed particularly well in all four factors.

Coldwell Banker Real Estate also ranked particularly high in the home-buyer segment. The brand ranked second with a score of 801 on a 1,000-point scale, performing particularly well in the office factor.

Complete results for the study can be found here

Post added 14th Oct, 2009

Don't Fool Around - Get Pre-Approved
Homebuyers often forget one of the most important steps in the home buying process: arming themselves with a pre-approved mortgage loan before they begin their house hunting. A pre-approved mortgage loan is a lender’s commitment to lend to the homebuyer, with specifications on the exact loan amount. To get pre-approved, homebuyers need to provide personal financial information -- such as income, debts and assets -- to a lender. Applications are usually approved with certain caveats. However, with the lender committing to the loan amount and interest rate up front, buyers can have confidence that adequate financing is in place before they start shopping for a home. Coldwell Banker cites numerous advantages of having a pre-approved mortgage loan, which include the following: Establishing an advantage in a competitive market: Having a pre-approval letter provides the homebuyer with an edge in a multi-offer situation. Sellers prefer working with potential buyers who are pre-approved in order to avoid the threat of a deal falling through because the purchaser cannot get sufficient financing. An offer with a mortgage pre-approval letter carries far more weight than an offer with only a pre-qualification letter or no letter at all. In fact, sellers often accept offers from pre-approved buyers over buyers with higher dollar offers who have not been pre-approved. Finding the best possible type of loan: Working with a mortgage lender before looking at houses allows the homebuyer plenty of time to evaluate what mortgage product works best for their financial goals. Once they decide upon the kind of loan that they want and are pre-approved, homebuyers can then focus on finding their dream home. Establishing the price range: Getting pre-approved for a mortgage enables homebuyers to determine, prior to house hunting, how much money they qualify for, and how much they can afford to spend. The real estate sales associate and homebuyers can then focus on finding homes in the established price range. Seeking comfort with the loan amount: By taking the time to seek pre-approval, the homebuyer can select a comfortable loan amount. In many cases, buyers can qualify for mortgages that are more expensive than what they feel comfortable committing to for the long-term. Buyers often end up acquiring a more expensive home than they want merely because it works on paper. It’s important for a buyer to purchase a home that they can afford.
Post added 28th Aug, 2009

Don't Fool Around - Get Pre-Approved

Homebuyers often forget one of the most important steps in the home buying process: arming themselves with a pre-approved mortgage loan before they begin their house hunting.

A pre-approved mortgage loan is a lender’s commitment to lend to the homebuyer, with specifications on the exact loan amount. To get pre-approved, homebuyers need to provide personal financial information -- such as income, debts and assets -- to a lender. Applications are usually approved with certain caveats. However, with the lender committing to the loan amount and interest rate up front, buyers can have confidence that adequate financing is in place before they start shopping for a home.

Coldwell Banker cites numerous advantages of having a pre-approved mortgage loan, which include the following:

Establishing an advantage in a competitive market: Having a pre-approval letter provides the homebuyer with an edge in a multi-offer situation. Sellers prefer working with potential buyers who are pre-approved in order to avoid the threat of a deal falling through because the purchaser cannot get sufficient financing. An offer with a mortgage pre-approval letter carries far more weight than an offer with only a pre-qualification letter or no letter at all. In fact, sellers often accept offers from pre-approved buyers over buyers with higher dollar offers who have not been pre-approved.

Finding the best possible type of loan: Working with a mortgage lender before looking at houses allows the homebuyer plenty of time to evaluate what mortgage product works best for their financial goals. Once they decide upon the kind of loan that they want and are pre-approved, homebuyers can then focus on finding their dream home.

Establishing the price range: Getting pre-approved for a mortgage enables homebuyers to determine, prior to house hunting, how much money they qualify for, and how much they can afford to spend. The real estate sales associate and homebuyers can then focus on finding homes in the established price range.

Seeking comfort with the loan amount: By taking the time to seek pre-approval, the homebuyer can select a comfortable loan amount. In many cases, buyers can qualify for mortgages that are more expensive than what they feel comfortable committing to for the long-term. Buyers often end up acquiring a more expensive home than they want merely because it works on paper. It’s important for a buyer to purchase a home that they can afford.

Post added 28th Aug, 2009

Gender Differences in Homebuying - New survey
COLDWELL BANKER REAL ESTATE SURVEYS 1,000 MEN AND WOMEN TO DISCOVER GENDER DIFFERENCES IN THE HOME-BUYING PROCESS Survey Finds that While Couples Make Real Estate Buying Decisions Together, Women Make Up Their Minds Significantly Faster than Men PARSIPPANY, N.J. (August 17, 2009) – It often seems as though men and women are from different planets, but every day millions of couples navigate through day-to-day and even life-altering decisions. Because a home is the biggest purchase most people will make in their lifetime, Coldwell Banker Real Estate LLC surveyed 1,000 individuals to discover how much men and women differ in the home-buying process. The real estate company engaged a third-party research firm, International Communications Research (ICR), to delve into the innerpsyche of men and women, asking questions such as “How long did it take for you to know that the last home you purchased was right for you?” and “If you found the home of your dreams but had concerns about its security, would you still be interested?” Coldwell Banker Real Estate also surveyed couples on additional topics, such as “Who wears the pants in the relationship?” when it comes to making major financial decisions. “The results were surprising,” said Diann Patton, the Coldwell Banker consumer real estate expert. “Not only did we uncover some of the inherent differences between men and women, but we also pinpointed a number of ways that the two genders are actually the same. For example, both men and women are increasingly concerned with having a space to work in their homes – something we would not have seen 40 years ago.” She continued, “We also found that feeling insecure about a home’s safety is a deal-breaker for most people, regardless of gender.” Patton noted this topic is particularly timely given that many first-time homebuyers are hoping to take advantage of the $8,000 tax credit before it expires on December 1, 2009. Below are some key highlights from the Coldwell Banker Real Estate study: Women may be inclined to make up their mind more quickly than men … When asked how long it took before they knew their home was “right” for them, almost 70 percent of women had made up their mind the day they walked into the house, vs. 62 percent of men. Conversely, significantly more men needed two or more visits: (32 percent of men vs. 23 percent of women). Women would rather live closer to their extended family than to their job … 55 percent of women find it more important to be closer to their extended family (those that do not live in their household) than to their job, compared to only 37 percent of men. A home’s security is a deal-breaker for both men and women … 64 percent of women said that if they found the home of their dreams but had concerns about its security, they would no longer be interested. More than half of men agreed (51 percent). Couples say that no one “wears the pants in the relationship” in terms of major financial decisions … When asked who wears the pants in the relationship (when it comes to major financial decisions, such as purchasing a home), almost 70 percent of respondents living with their significant other said it’s actually mutual. However, 23 percent think that they, themselves, wear the pants in the relationship, not their partner. More men than women said this (26 percent vs. 20 percent, respectively). Men and women agree on how they would use a spare room, for the most part … When the respondents were asked how they would use an extra 12 x 12 room if it could be anything they wanted, men and women agreed on the top three most popular, and very practical, responses: Bedroom: 25 percent Office/Study: 15 percent Family Room / Den: 11 percent However, men really do want a “Man Cave”… Interestingly, out of the 8 percent who indicated they would turn that spare room into an entertainment center, it was a preponderance of men leading the charge. In fact, four times as many men as women said they would use the extra space for recreation / entertainment. In addition to providing background on the survey results, Patton is able to offer tips for couples who are currently going through the process of buying a home. “These results further validate how critical it is for couples to recognize each other’s differences and work together, from deciding a neighborhood to how to use a spare room,” she said. “Online tools and the expertise of a real estate professional can be particularly helpful for couples, especially if they work together step-by-step along the way.” Methodology: Coldwell Banker Real Estate engaged ICR to conduct an omnibus survey via telephone in May 2009, among more than 1,000 respondents.
Post added 18th Aug, 2009

Gender Differences in Homebuying - New survey

COLDWELL BANKER REAL ESTATE SURVEYS 1,000 MEN AND WOMEN TO DISCOVER GENDER DIFFERENCES IN THE HOME-BUYING PROCESS

Survey Finds that While Couples Make Real Estate Buying Decisions Together, Women Make Up Their Minds Significantly Faster than Men

PARSIPPANY, N.J. (August 17, 2009) – It often seems as though men and women are from different planets, but every day millions of couples navigate through day-to-day and even life-altering decisions. Because a home is the biggest purchase most people will make in their lifetime, Coldwell Banker Real Estate LLC surveyed 1,000 individuals to discover how much men and women differ in the home-buying process.

The real estate company engaged a third-party research firm, International Communications Research (ICR), to delve into the innerpsyche of men and women, asking questions such as “How long did it take for you to know that the last home you purchased was right for you?” and “If you found the home of your dreams but had concerns about its security, would you still be interested?” Coldwell Banker Real Estate also surveyed couples on additional topics, such as “Who wears the pants in the relationship?” when it comes to making major financial decisions.

“The results were surprising,” said Diann Patton, the Coldwell Banker consumer real estate expert. “Not only did we uncover some of the inherent differences between men and women, but we also pinpointed a number of ways that the two genders are actually the same. For example, both men and women are increasingly concerned with having a space to work in their homes – something we would not have seen 40 years ago.” She continued, “We also found that feeling insecure about a home’s safety is a deal-breaker for most people, regardless of gender.”

Patton noted this topic is particularly timely given that many first-time homebuyers are hoping to take advantage of the $8,000 tax credit before it expires on December 1, 2009.

Below are some key highlights from the Coldwell Banker Real Estate study:

Women may be inclined to make up their mind more quickly than men …

When asked how long it took before they knew their home was “right” for them, almost 70 percent of women had made up their mind the day they walked into the house, vs. 62 percent of men. Conversely, significantly more men needed two or more visits: (32 percent of men vs. 23 percent of women).

Women would rather live closer to their extended family than to their job …

55 percent of women find it more important to be closer to their extended family (those that do not live in their household) than to their job, compared to only 37 percent of men.

A home’s security is a deal-breaker for both men and women …

64 percent of women said that if they found the home of their dreams but had concerns about its security, they would no longer be interested. More than half of men agreed (51 percent).

Couples say that no one “wears the pants in the relationship” in terms of major financial decisions …

When asked who wears the pants in the relationship (when it comes to major financial decisions, such as purchasing a home), almost 70 percent of respondents living with their significant other said it’s actually mutual.
However, 23 percent think that they, themselves, wear the pants in the relationship, not their partner. More men than women said this (26 percent vs. 20 percent, respectively).

Men and women agree on how they would use a spare room, for the most part …
When the respondents were asked how they would use an extra 12 x 12 room if it could be anything they wanted, men and women agreed on the top three most popular, and very practical, responses:

Bedroom: 25 percent
Office/Study: 15 percent
Family Room / Den: 11 percent

However, men really do want a “Man Cave”…

Interestingly, out of the 8 percent who indicated they would turn that spare room into an entertainment center, it was a preponderance of men leading the charge. In fact, four times as many men as women said they would use the extra space for recreation / entertainment.

In addition to providing background on the survey results, Patton is able to offer tips for couples who are currently going through the process of buying a home. “These results further validate how critical it is for couples to recognize each other’s differences and work together, from deciding a neighborhood to how to use a spare room,” she said. “Online tools and the expertise of a real estate professional can be particularly helpful for couples, especially if they work together step-by-step along the way.”

Methodology: Coldwell Banker Real Estate engaged ICR to conduct an omnibus survey via telephone in May 2009, among more than 1,000 respondents.

Post added 18th Aug, 2009

Tips to Make Your Open House a Success
Is your home currently on the market, and are you looking for an edge to make your home more appealing to buyers? Having your realtor host an open house is a good way to advertise, but only if you take the necessary steps to make your home as attractive as possible to potential buyers. Coldwell Banker Select Professionals has created the following list of tips to help you create a positive impression during your open house. Clean Diligently: Your home must be spotless, so if you do not think you’re up to the task of cleaning, hire a service to do it for you. Create a Pleasant Smell: When people walk in the door, make sure they experience a welcoming smell. You can bake cookies right before the open house, put out potpourri, or even simmer some vanilla extract on the stove for the right effect. Create Brightness: Make sure you turn on all the lights, even if it's during the day. Open the blinds and drapes to make your home as light and cheery as possible. Utilize the Fireplace: If your home has one, consider laying a fire. If it is too much of a hassle to tend a fire, then arrange an attractive grouping of lit candles instead. Wash Windows and Mirrors: Make sure your windows are crystal clear and your mirrors are free from any splashes from the sink. Get Rid of Clutter: You need to get rid of unnecessary items from all counter tops in order to create the illusion of more space. Put small appliances away, shampoo bottles, soap and toothbrushes need to be out of sight, and eliminate your personal touches (including family photos). Additionally, you need to de-clutter your closets so they appear as roomy as possible. Freshen up the Bathroom: Make sure the shower curtain is spotless—buy a new one if necessary. Thoroughly clean the toilet and put the lid down. You should also hang some fresh, fluffy towels. Empty all Trash Cans: It may seem like a minor detail and one easily overlooked, but it is an important touch. Remember, people will be looking closely at every aspect of your home, and having to look at someone else’s trash is definitely disgusting. Freshen up the Exterior: Mow the grass, weed the beds, and add some potted plants if the time of year allows. Also, make sure the entryway is in the best shape possible. This means adding a fresh coat of paint to the door, polishing the hardware, and adding a new doormat. Everyone Out: The quickest way to alienate potential buyers is to hang over their shoulder while they’re looking through your house or having your kids and pets underfoot. Make every effort to leave your home—taking kids and pets with you—during the open house. An open house is a golden opportunity to showcase your home to the public, so make sure you take the time to make the proper impression. The more attentive you are to the details, the better your chances for selling your home quickly. If your looking for personal service and have questions regarding homes and loans in Lancaster PA, York PA, Harrisburg PA, Lebanon PA, Hershey PA and Cumberland County, be sure to connect with one of our agents at www.cbselectpros.com or one of our mortgage specialists at www.homenat.com. Home National Mortgage and Coldwell Banker Select Professionals has local offices serving all of Lancaster, Lebanon, York, Hershey, Harrisburg, and Cumberland County PA.
Post added 12th Aug, 2009

Tips to Make Your Open House a Success

Is your home currently on the market, and are you looking for an edge to make your home more appealing to buyers? Having your realtor host an open house is a good way to advertise, but only if you take the necessary steps to make your home as attractive as possible to potential buyers. Coldwell Banker Select Professionals has created the following list of tips to help you create a positive impression during your open house.

Clean Diligently: Your home must be spotless, so if you do not think you’re up to the task of cleaning, hire a service to do it for you.
Create a Pleasant Smell: When people walk in the door, make sure they experience a welcoming smell. You can bake cookies right before the open house, put out potpourri, or even simmer some vanilla extract on the stove for the right effect.
Create Brightness: Make sure you turn on all the lights, even if it's during the day. Open the blinds and drapes to make your home as light and cheery as possible.
Utilize the Fireplace: If your home has one, consider laying a fire. If it is too much of a hassle to tend a fire, then arrange an attractive grouping of lit candles instead.
Wash Windows and Mirrors: Make sure your windows are crystal clear and your mirrors are free from any splashes from the sink.
Get Rid of Clutter: You need to get rid of unnecessary items from all counter tops in order to create the illusion of more space. Put small appliances away, shampoo bottles, soap and toothbrushes need to be out of sight, and eliminate your personal touches (including family photos). Additionally, you need to de-clutter your closets so they appear as roomy as possible.
Freshen up the Bathroom: Make sure the shower curtain is spotless—buy a new one if necessary. Thoroughly clean the toilet and put the lid down. You should also hang some fresh, fluffy towels.
Empty all Trash Cans: It may seem like a minor detail and one easily overlooked, but it is an important touch. Remember, people will be looking closely at every aspect of your home, and having to look at someone else’s trash is definitely disgusting.
Freshen up the Exterior: Mow the grass, weed the beds, and add some potted plants if the time of year allows. Also, make sure the entryway is in the best shape possible. This means adding a fresh coat of paint to the door, polishing the hardware, and adding a new doormat.
Everyone Out: The quickest way to alienate potential buyers is to hang over their shoulder while they’re looking through your house or having your kids and pets underfoot. Make every effort to leave your home—taking kids and pets with you—during the open house.

An open house is a golden opportunity to showcase your home to the public, so make sure you take the time to make the proper impression. The more attentive you are to the details, the better your chances for selling your home quickly.

If your looking for personal service and have questions regarding homes and loans in Lancaster PA, York PA, Harrisburg PA, Lebanon PA, Hershey PA and Cumberland County, be sure to connect with one of our agents at www.cbselectpros.com or one of our mortgage specialists at www.homenat.com. Home National Mortgage and Coldwell Banker Select Professionals has local offices serving all of Lancaster, Lebanon, York, Hershey, Harrisburg, and Cumberland County PA.

Post added 12th Aug, 2009

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