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 Posted in Mortgage Topics on February 14th, 2011 at 12:48 PM


Recent statistics show that 1/4 of all mortgage holder in the US have negative equity or "upside down" mortgages. What exactly does that mean? Negative equity is when the collateral that secures the loan (the property value) is less than the loan balance.  In it's simplest terms the house is worth less than the mortgage. A study down by First American CoreLogic shows the number of homeowners in this situation has increase over the past few years and will likely continue until home values stabilize.

What does that mean to the average homeowner?  Well, obviously no one wants to hear their home value has gone down, but unless you are looking to sell, refinance, or borrow against your home it doesn't mean very much.  Real estate appreciation is a long term proposition and as long as you continue to pay your mortgage and stay in your home, historically, you should see your value increase over time.

What if I need to sell my home now?  When a home is sold with negative equity the term used is a "short sale".  Most of the time in this circumstance the homeowner negotiates with the lender to accept a lower amount than the current loan balance.  This can be a difficult, timely, and stressful thing to do.  That is where a professional, experienced, agent can help. Our agents work with the owner to market the home, find a buyer willing to pay fair market value, and work with you and the lender to resolve the sale.  If you think you are in this situation and need to sell your home DO NOT wait for foreclosure from the lender. The lenders would prefer that you come to them with a reasonable offer rather than go through the expensive process of taking back your home - which they will just have to sell anyway. If you would like more information on how to handle a short sale please call one of our agents for a free, confidential consultation to determine your properties current value and discuss your options.

Boyertown Office: 610-367-2058               Pottstown Office: 610-326-0181




 Posted in Homeownership on February 1st, 2011 at 2:25 PM


6 Tips to Avoid Injury While Shoveling Snow

By LiveScience Staff

posted: 08 February 2010 01:43 pm ET

As mid-Atlantic residents dig themselves out from the snow, literally, doctors say they should listen to their bodies and not overdo it.

"If you're not a regular exerciser or you're in poor physical shape, your body won't be prepared for the stress of shoveling snow and you increase your chances of sustaining muscle pulls, back injuries, and strains," said Dr. Susan Wainwright, vice chair of the Department of Physical Therapy at the University of the Sciences in Philadelphia. "Snow shoveling can also strain the heart and cause potentially life threatening injuries, such as a heart attack."

In 2007, more than 118,000 individuals were treated in hospital emergency rooms, doctors' offices and other medical offices for injuries related to snow shoveling or manual removal of ice, according to the U.S. Consumer Products Safety Commission. More than 16,000 were injured using snow blowers. Injuries ranged from sprains of the back and shoulders to lacerations and even finger amputations.

If you're wishing that snow could magically melt at once, here's what that pipe dream would look like: The density of new snow ranges from about 5 percent when the air temperature is 14 degrees Fahrenheit (minus 10 degrees Celsius) to about 20 percent when the temperature is 32 degrees F (0 degrees C). So if you have, say, 20 inches (50 cm) of snow at just-freezing temperatures, the water equivalent would be 4 inches (10 cm).

Wainwright offers snow-shoveling tips to help you avoid the emergency room:

  1. Warm up. Before digging in, jog in place or run up stairs and stretch to get your muscles warmed up.
  2. Use an ergonomic shovel. Ergonomically correct shovels are typically much lighter than normal shovels and have a contoured handle that's designed to reduce or eliminate bending and decrease lifting. Remember, each shovelful of snow can weigh some 20 pounds (9 kg), according to the American Association of Retired Persons (AARP).
  3. Use the proper shoveling technique. Push the snow instead of lifting it, and be sure not to overload the shovel. If you have to lift, bend your knees and lift with your legs (not your back!), and avoid twisting or throwing snow over your shoulder.
  4. Take breaks. Every 15 minutes or so, stand up straight, walk around, and drink water to avoid dehydration and overheating.
  5. Listen to your body. Pay attention to your body's signals, such as pains, shortness of breath, or chest discomfort.
  6. Don't shovel: Some people simply should ditch shoveling duties. Wainwright recommends that men and women over the age of 45, especially those who are not physically active or have a history of a heart condition, let someone else do the shoveling.

"The heart is a muscle just like any other muscle in your body and when it gets strained, it shuts down because it can't handle the increased load," Wainwright said. "Older adults who aren't active tax their cardiovascular system when they start to shovel and this often results in heart attacks."

For those who are fit enough to shovel, the wintry obligation can be a form of exercise. A 145-pound person burns almost 400 calories an hour shoveling snow, according to the AARP.  




 Posted in Events on January 10th, 2011 at 1:36 PM


Glocker and Company Inc. has expanded it's North Coventry location in the Suburbia Shopping Center on Rt. 100 south of the Coventry Mall.  We doubled the office size at this location to accommodate up to 10 agents, our administrative staff, and our insurance department.  We are excited to have a greater presence in the area and look forward to meeting all of your real estate and insurance needs.

With our expansion we have sold our Spring City office building to our long term tenant Creative Health.  




 Posted in Agency Relationship on November 15th, 2010 at 9:41 AM


NAR: Home Hunting without Fear

 

As any daredevil, extreme sports addict or adrenaline junkie knows, well-grounded preparation for the specific task at hand is what takes the fear out of trying.

The sometimes risky sport of home buying is no different.

Those who've suffered the agony of defeat in what's likely the most dangerous consumer game, learned the hard way that sheer fearlessness isn't enough to become and remain a homeowner -- through good times and bad.

With the rules of the housing game changed forever, preparing to just squeak by the home buying ordeal isn't enough to achieve a decisive and lasting victory.

The idea isn't just to buy a home. The goal is to keep your own roof over your head.

Preparation is key, according to the National Association of Realtors.

From NAR, here's how to get ready to be and remain a homeowner.

Create a wish list. Write down housing wants and needs. Include all the physical characteristics you want or need. Include style, size, layout and room configuration. Look at the number of bedrooms and bathrooms, and the basic amenities you must have. Include critical features such as location and services and a home's proximity to good schools or public transportation lines.

Browse for housing. Realtor.com and other Web sites offer home valuation features and neighborhood data on trends in local markets. Use features to determine how a listing compares with nearby, comparable properties in terms of value, actual sales prices, home features, neighborhood characteristics, and more.

Work with an expert. Finding a professional real estate agent who will represent your best interests can make the difference in location, negotiating the best offer, and closing the home of your dreams. Look for a full time real estate agent, who has uploaded telling photos and videos of their listings and look for agents with good Web sites to market your listing.

Get the complete picture before you visit. You can't know everything about a community from an online listing. Schools, crime, and proximity to shopping and work all impact property values. NAR says talk to a Realtor and go to Realtor.com to explore communities.

Make sure the property details are reliable. Buyers need know when a listing has experienced a price change. Look for Web sites like Realtor.com that updates listings frequently, including price changes. Fresh and reliable information is critical. Realtor.com time stamps listings to help buyers make better informed decisions. Get email alerts and stay on top of changes so you can be first to act.

Published: July 16, 2009

http://realtytimes.com/rtpages/20090716_homehunt.htm

 




 Posted in Agency Relationship on November 1st, 2010 at 12:51 PM


Practitioners Responsible for Full Disclosure


Real estate practitioners have the same responsibility as sellers to disclose information they have that affects the “value and desirability of the property,” a California appellate court confirmed this week.

In Holmes vs. Summers, the seller and the listing associate failed to tell potential buyers about three mortgages against the property totaling $1.141 million. The sellers accepted a buyer’s offer of $749,000, but the deal fell apart because the sellers couldn’t deliver clear title.

The would-be buyers sued the real estate firm and the court found that the real estate practitioner had a greater duty to disclose facts affecting the desirability and marketability of the property than he did to protect the privacy of the seller.

Analysts say this decision will make it incumbent on practitioners with short-sale listings to provide specific information about circumstances surrounding the sales, including approvals required for the sales to close.

Source: RISMedia (10/29/2010)
 





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