Right now there is a glut of single family homes on the market. Logic and recent statistics tell us that values are still DECLINING. The lending industry and the government do not have a clue as to how to make things better. The market just has to play out. Things will get worse before they get better.

However, there is an angle to play. Smart investors are looking harder at multi-family buildings and other rental properties. There is an INCREASING demand for quality rental units as many would be buyers are choosing to rent. These potential renters have better job stability and financial strength .
There is less risk to the landlord.

If you are looking at real estate as investment vehicle, the smart play now is multi-family housing. Prices and mortgage rates are at very low levels. This is the move to make.

As a long time investor, I would be glad to share my experience and knowledge with you. I look forward to meeting you.

The HUD purchase process is simple . You will need to work with a HUD approved Real Estate Broker (I am one).

You can view the foreclosure list on-line and then see them with your chosen HUD broker.

Bids are done on-line, proof of funds and a deposit check are required at time of offer.

If accepted , you have 45 days to close.

These homes are usually in rough shape and utilities are off. They are best purchased with cash.

I have sold many HUD homes and would be glad to answer any questions you may have.

The bottom line is…bigger deposits reduce risk…ask for the money!

The average 15 year fixed rate mortgage is now 4.36 percent with .7 points.

These are the lowest rates in six weeks. This is a great time to buy or refinance.
Of course , these rates are for owner-occupants. Investor rates will be higher.

If you are considering a purchase or refi please contact me and we will determine how much of a loan you can qualify for.  Put my 25 years experience to work for you !

If you are looking to maximize your homes value then consider
letting me list it on MLS and the internet. You will pay a
minimal commission but obtain maximum marketing exposure.

I can include a FREE home warranty to reduce the risk to you
and your buyer.
Put my 25 years experience to work for you.

Wes Gerstenkorn
Prudential Premier Properties

Office:(610) 328-2400 x11
Cell:(267) 226-4267
Email: wesgerstenkorn@prodigy.net

The first time buyer tax credit will expire soon. First time buyers need to have a signed agreement of sale by the end of April and must close by the end of June in order to qualify for the $8000 credit from Uncle Sam.  That means rehabbers will need to get their homes ready for market very soon if their target market is the first time purchaser.  Another factor is that there are pending changes to FHA that will require buyers to put more money down and also will reduce the amount of the sellers assist from 6% to 3%.  Investors that can move quickly can take advantage of the current buyer advantages that are about to disappear.

Prices are low!  There is an increasing number of attractively priced homes coming on the market. This is due to large number of foreclosures (HUD homes) and an increasing number of frustrated landlords looking to get rid of their troubles.

The bottom line is that there are motivated buyers and sellers out there.  This is an excellent time for the smart investor to make a move.  I have worked with many successful investors and would welcome a chance to discuss the current market conditions with you. Get in touch!

This is a three bedroom ranch home in pretty rough condition. The list price is $120,000….not bad for the area except for the repair issues. The exterior siding is damaged in several areas, the basement has standing water in it. The kitchen and bath need work.

The location is good (cul- de – sac ) and the yard is large. I expect this will come down in price before it gets sold. Not a good choice for the investor , but could be a good buy for the handy (very) owner-occupant. Lets keep an eye on this one.

I welcome any comments, and certainly any questions about Delaware County investment real estate.
E-mail to: wesgerstenkorn@prodigy.net

Wes Gerstenkorn
Broker/Owner
PrudentialPremier.com
cell# 267-226-4267

First time buyers can buy a $100,000 house for only $3500 out of pocket and still get $8000 back after closing.  This is a great deal soon to go away. Make your move now while rates are still low.

I have two excellent homes for first time buyers:
1011 Clifton Ave in Collingdale for $84,900.  This a three bedroom home in move in condition.

601 Colwyn Avenue in Darby for $59,900.  This is a super clean 2BR brick end row with a fenced yard.

Both of these could be purchased (with maximum sellers assist) for less than $3000 out of pocket AND you can still get $8000 back from Uncle Sam.

Make your move today. For more information contact me at 267-226-4267

Wes Gerstenkorn
PrudentialPremier.com
wesgerstenkorn@prodigy.net

Today I visited 1018 North St., Collingdale This is a 3 bedroom brick twin that is on the market for $52,900  Its a real fixer upper.  I would plan on replacing the windows, heater, and kitchen for starters. Of concern is the huge tree that dominates the back yard. There is a curb cut for the non-existent driveway. Another issue is the water in the basement.  I would plan on dropping around $20k into making this place live able. Collindgale Borough can be pretty tough on the U&O so plan an some unexpected repairs.  On the bright side, I really like the location. A quiet street, with some singles nearby. The homes nearby have sold in the low $100s, up to $140,000 for something in top notch condition.  If you have the tools, time and talent to some of the work needed then this could be something to think about (for the right price, of course).

Tomorrow, I will look at HUD house in Lansdowne….stay tuned.
I would appreciate any constructive feedback, thanks!

Wes Gerstenkorn
Broker-Owner Prudential Premier Properties (Springfield)  ,
visit  prudentialpremier.com
or contact me at
wesgerstenkorn@prodigy.net
my cell is 267-226-4267