Important Factors to Consider When Purchasing or Renting a Home in PA

Pennsylvanian real estate market

The personal situation of households and the trends in the real estate industry always tend to influence the decisions of purchase or lease. In general, the purchase and leasing of real estate properties in Pennsylvania are two different options that can impact on the future of an entire family. So it is important to carefully choose between renting and leasing as is not always easy.

In regards to the Question of Mortgage Interest Rates

Pennsylvanian real estate marketFirst, we need to consider interest rates. When they are low, the cost of borrowing does not go up, resulting in a decrease in monthly mortgage payments. Thus, you must stay on the lookout for trends in the pa real estate sector or use the services of a real estate agency. You must always keep in mind that when inflation is in the air, speculation is yet to be seen. This leads to more difficult conditions for granting loans and thus to an increase in the monthly mortgage payments.

When considering purchasing a home, you should be on the lookout for a possible rise in the interest rates. To do this, it is preferable to opt for the fixed rates. However, this option does not necessarily fit everyone’s financial situation. More on this

Rights and duties of the owner and the tenant

By choosing to purchase a home, you invest in your future. After a few years, you could certainly sell it at a higher price, which would allow you to compensate for the expenses related to its acquisition (cost of notary, renovation and maintenance, mortgage interest costs, etc.). But this process will take legal and practical obligations.

Legal obligations relate to standards of urbanization or your town, property taxes, obligations to tenants, etc… So under what legal conditions an owner may ask a tenant to his property? Ditto for the obligations of the owner regarding the regular renovation of the premises, the increase rent regulations, etc… Rent a house has many practical advantages including flexibility and the exemption of taxes and maintenance but you have to be very careful about the laws and your tenant must inquire about his legal rights and duties.

Otherwise, you can also consider all arguments for and against the lease or the purchase of a property on the main line, including in financial terms (visit this profile to know more. Contacting a realtor is the best way for you to know if it is better to rent or to buy a property. Everything depends on your personal financial situation. Will it be able to face any mortgage interest rate increases? Otherwise it is better adapted to a fixed rate?

How to Negotiate Your Real Estate Purchase

make the right choice

Are you ready to negotiate? In order to it the best way possible there are 5 crucial steps of a “real estate purchase” preceding an effective negotiation. You should know that there are almost as many negotiation techniques as there are buyers and sellers. But they are not all effective!

The right technique is one that will be suitable for:
• Your situation (profession, intake, age, etc…).
• Your personality (shy, on you, etc…).
• The situation of the seller (pressed or not to sell).
• The type of property (location, quality, work, etc…).
• The market (successful or not).

Take care of your credibility for all your purchases.

make the right choiceTo be an effective buyer you need to know what you can afford. In order to exactly know what you can afford the best thing to do is to take an appointment with your bank so you can calculate your debt capacity. This will also allow you to set up your budget and find the best bank for your mortgage.

A few questions you should ask the seller.

• The reason why the owner is willing to sell his house.
• To which extend you can negotiate.
• The number of proposal and their amount.
• How long the property has been on sale for.

Do not believe that the answers you will get will necessarily be true though. However, they will allow you to better understand the situation and the personality of the seller.

Negotiation is a duel and here are your weapons:

Offer to sign a sale’s agreement the very next day, as it will impress the seller.

Make an Offer
Make a written proposal in order to show that your commitment is not verbal.

real estate nogociation is an artRemember to choose the most adapted way of negotiating according to your personality and the seller’s. Also know that there is no perfect strategy and that everything a good negotiation lies in the mix of the below elements.

Electric shock
You need to have: Audacity.
Make a proposal that you think unacceptable so the seller will be destabilized. If he believes that you are credible, he may unveil his bottom price through its counter proposal. You then can accept it or make a second electric shock.

The confrontation
You need to have: cold blood.
Make a non-negotiable proposal at least of 20% less than the fixed price. It is here a make it or break situation.

You need to have: patience.
List all the elements that will justify the proposal that you make: bad energy balance, noisy environment, the views, the neighbourhood, etc…
If you are right and that these remarks are indisputable, you will make the seller uncertain about the price he fixed. He might even lose confidence in the quality of his property and will be all the more willing to accept the estimate you make.

Real Estate Market in USA: a Still Declining Market

The U.S. housing market is still in decline.

The number of repossessions continues to increase and real estate prices continue to fall and it is far from being the end according to famous analysts.

Real estate foreclosures: record in July 2014

buy houses main line paAbout 360 150 U.S. homes were seized in July 2009, an increase of 7% compared to repossessions of June 2009, where peaks had already been achieved. Real estate in the United States is so far from getting out of the real estate crisis in 2014. The rise in repossessions stood at + 32% in annual comparison from 2009 to 2014.

Thus, on all households who have contracted a loan to buy a house, 1 355 would today be proceeding repossession. The most affected in the USA States are Florida, California, Nevada and Arizona.

Sales of new homes in the USA are at the lowest

The real estate market is completely devastated in the United States, there are so many properties for sale at cheap price that sales of new homes have collapsed heavily over the last few years.

Real estate prices in the United States

The bulk of the US housing bubble has deflated, but the magnitude of the crisis suggests that this decline in real estate prices is far from over.

If we compare the curves of the United States and those of Europe, prices of houses and apartments in the USA are less than in France and Germany coupled and that there is a lag in time between the explosion of the real estate bubble in the United States or England and the deflation of the housing bubble in Europe. This portends of what awaits the real estate market in Europe in next months and years to come…

Global Trends for 2015

Synthesis of trends in real estate in 2014

homes for sale in philadelphia suburbsIt is too early to know the total decline in prices of real estate in 2014. Official figures of the give final values that statistics laid down in the first quarter of 2014. At that time, housing prices fall across 1.7% over one year (-1.4% for apartments,-2.1% for houses).

In the 2nd quarter, figures were considered as semi-final and may therefore still be modified, real estate professional’s notes an evolution of -1.3% over one year with nearly equivalent variations for the apartments and houses (respectively-1.4% and-1.6%).

Third-quarter figures are only provisional and as they are often fixed in previous publications (almost always downward), it is not appropriate to mention them for the moment. All that we are seeing is that this trend of reduction of prices in current dollars continues with a greater pace for apartments than for homes on these two quarters. It is now the best time to buy homes for sale main line pa.

However, this is not all! Quite the contrary. To properly understand this cycle, buyers should also take into account the impact of other factors that weigh on property prices. During this same period, borrowers have not benefited from the same conditions of funding. Indeed, borrowing rates fell over this period of 179 basis points. This is equivalent to a decrease in the price of 12.3% according to figures of the Housing Credit.

It was therefore a reduction of prices by 6.1% as well as an improvement on the interest rate which is equivalent to a down price of 13.9%. Either an overall decline of more than 19% in less than 2.5 years!

Nevertheless it is still far from returning to levels accessible to the average american revenues as shown in the last curves of James Trish. After reviewing things that change for real estate in 2014 and the impact it could have on the market, we will return on the forecast for property prices in 2015, as well as the evolution of mortgage rates.

Will prices continue to drop?

There are no major changes compared to last year, who can know that these last years of flipping real estate market will stop there and prices will go upward in 2015. The deflationary economic environment with high rates of unemployment and income after tax which decrease every year suggests a real estate bubble deflation of this huge lawsuit that we experienced in the early 2000s.

In addition, the sharp increase in taxation on unused land possession causes massive property sales, we should even expect an acceleration of these price declines. Indeed, the speculation could take a cost. But it is one of the main causes of the high prices.

Trends: Real Estate Prices are Rising Around the World!

According to the latest study by Global Property Guide on real estate markets in the world in 2014 last quarter, 30 of 39 countries saw their housing prices rise more than 78% of the panel.

Good news is Europe is back!

Screen Shot 2015-02-09 at 18.59.06
Evolution of house prices in countries around the world Q3 2014 – Source Global Property Guide

4 of the 5 largest increases in property markets are on the old continent.
House prices rose in 17 European countries

TOP of the largest increases in Q3 2014:

Dubai + 23.73%
Estonia + 15.30%
Ireland + 14.52%
UK + 8.95%
Turkey + 7.51%

The Flop of the largest declines in Q3 2014:

Ukraine -36.6%
Greece -7.08%
Russia -5.68%
Singapore -4.79%
Spain -4.15%

Find a Great Accommodation in Chicago

Chicago illinois

If you are looking for an accommodation in Chicago, this article will tell you about the types of accommodation available and the way forward.

Chicago illinoisTo settle in the city of Chicago, you will need to find housing. You can buy a home, rent or sublet an apartment or opt for colocation. But first, find the area where you want to live and learn about its environment. The city is divided into four sections, including “The Loop” the north side “Mostly,” the “West Side” and the “South Side”. Apartments for rent are available in almost all regions.

How To Find A Gem

To find a great accommodation in the capital city of Illinois, you can check the classified ads in local newspapers if you are already on site or locate posters “rent” on homes or apartments. You can also visit the websites on which you have the option of publishing an accommodation search ads, or just hire a real estate agent who will handle all the procedures for you. Here are some links that might be helpful: Chicago Tribune


Chicago Sun

It is advisable to visit a maximum of apartments or houses before making your choice. Take the time to learn about the life of the lease, the various fees that may be related to the rent, and if you have to pay an advance or a guarantee. If you will settle with your pet, first check conditions with the owner.

It is also important to know your rights as a tenant, especially in regard to the lease. You must know and understand the terms of the lease before signing. You will have more information about this on the following link:

Types of accommodation

housing tips in ChicagoSeveral types of housing available in the city of Chicago. If you have a high budget, you can offer a modern and comfortable apartment in a skyscraper with babysitting services, a terrace, a laundry and dry cleaning included. You mostly find in the “downtown” and along Lake Michigan. The “townhomes” or townhouses, are most common in Chicago. These include in particular a small garden, a garage overlooking an alley. This type of accommodation is generally praised, often by floor, and is ideal for a quiet and peaceful life in the neighborhood.

You will also find that lofts are former warehouses and factories converted into apartments. The lofts are spacious, offer more or less the same comfort as the skyscrapers and are located near the city center.

Accommodation Prices

The dwellings in “The Loop” are the most expensive ones because it is a trendy area. Prices vary according to the three sub-sectors, namely the South Loop, the West Loop, and Streeterville. If you want to rent a studio, you will have to spend around $ 900 per month while for an apartment with three bedrooms, it will take you $ 6,000 per month.

You’ll need at least $ 550 per month for a studio, $ 1,750 for an apartment with two bedrooms. In northern suburbs you can find an apartment from $ 750 and a studio from $ 400. The apartments in the “West Side” meanwhile, are available from $ 1,000 while the rent for a studio starts from $ 500.

The least expensive homes are found mostly in the South Side. But it’s not as long as they are recommended because it is a region classified as dangerous due to the lack of security.

Become a Property Owner in the State of New York

The purchase of a property from an individual is the essence of real estate transactions in the state of New York, at the expense of auctions, purchasing from banks or promoters.

The key steps in the purchase from a private individual:

1 / MLS, what is it?

New YorkIn New York, every salesperson has in its portfolio, property for sale mandates that he must share with other agencies through a common system called MLS (Multiple Listing System). This centralization of properties for sale is freely available on the Internet. This is a huge advantage for the buyer compared to other systems, such as France, for example, where you have to tour agencies to see what was in store.
There are many ways to access MLS data, including the sites of some real estate agencies. Attention access is FREE. So Flee sites that offer you to pay for access.

It is noteworthy that the MLS also contains offers for rent.

Please note that the Manhattan area is subject to specific rules and do not have an MLS.

2 / Quote

To have a clear idea of the value of the property on the market, you can visit

Once you have located the property in question, you must provide a written offer, with the first payment of between $ 5,000 and 10% of the amount of the offer. Of course, the money is deposited into an escrow account (Escrow Account) and is fully refunded if the offer is refused, however, provided you have in your sales contract, which provides for the suspension clause.

3 / Inspections

Once an offer is accepted, you can request a detailed site inspection (Home Inspection) at your expense. If the inspection is satisfactory, you will need to place on the same escrow account an additional amount between 15% and 25% good.

4 / Funding

Get a property in NYThe buyer can obviously choose to either buy the property fully expecting either to resort to financing. In the latter case, obtaining a loan may take some time, between 45 and 60 days. Meanwhile, the lending bank will probably request an estimate of the property in question, with a specialized and independent body. This written estimate (appraisal) is a valuable indicator for the bank, who knows, therefore, if the purchase price you offer is relevant. Knowing that she may end up with your property on the arms if you do not repay your loan, it checks its market value …

5 / The closing of the sale or Closing

Once funding has been obtained, the closing of the sale (Closing) is usually done in the following days.

Therefore came a closing agent (Closing Agent or Settlement Agent) who:

Represents the buyer in the transfer of title and transfer of property of the Seller to the Buyer.
Conducts research on the validity of title.
Offers the assurance of this title (Owner’s Title Insurance Policy). Specifically, this insurance covers the state of title at some point.
Synchronizes the payment of funds through its escrow account.
Closing costs for the buyer ranged from 1.5% (with purchase) and 4% of the purchase price

Hope this helps.