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

Tenant screening: income stability , previous rental history and creditworthiness are a few of the factors that go into the evaluation process.

Rent collection: Receiving your rents in a timely manner is essential.

Handling repairs: A quick response to repair issues keeps tenants happy. I have a group of plumbers, electricians and handymen who respond quickly and keep costs low. Annual township and Section 8 inspections often result in repairs that need to quickly taken care of.

I keep my fees reasonable. These can be discussed when we evaluate your property management needs and expectations.

These are properties that were initially purchased using FHA financing and then taken back by HUD after foreclosing on the buyer.

Generally speaking, these homes will need major repairs prior to occupancy. They have been vacant for awhile and will not have functioning utilities. They are sold in “as-is” condition and purchaser will pay ALL transfer taxes. Buyers will receive clear title at closing. Investors should be prepared to pay cash or have access to a line of credit. Obtaining conventional financing is possible but challenging.

The bid process is quite simple and done on-line by a registered HUD broker. Buyers will need a cashier’s check for $500 or $1000 when making an offer. They will need to provide proof of funds. If the bid is expected buyers must close within 45 days.

Available HUD properties can viewed on-line at www.hooksvanholm.com

Lender Fees: Mortgage companies charge fees for their services. These may include an origination fee (1% of loan amount), discount points, document prep fees and other service fees. These are all negotiable and must be disclosed by your lender.

Title Insurance: You need to insure your investment from claims against previous owners. The cost will increase with the sale price. Prudential Premier Properties has an established business relationship with Professional Land Transfer. Buyers using this insurer can be assured of a smooth transaction.

Transfer Taxes: typically 1% of the selling price.
Homeowners insurance: required by lenders, varies with sale price and credit score.
Real estate taxes and escrows: expect to pay a full years taxes up front, this will reimburse seller for prepaid taxes and provide initial funding for your tax escrow account.
Broker service fee: Our fee is $250 for preparing necessary arrangements for a successful settlement.
Termite inspection: Typically $80-$100

A good rule of thumb is to expect buyers closing costs to be 5-6% of the purchase price.
When considering what to offer for a home, your agent will provide you with a written estimate of anticipated closing costs.

Sellers should keep in mind that all mortgages, liens, judgments, lines of credit etc. will need to paid from their settlement and they may incur fees to satisfy and remove these items. Sellers should also anticipate that they may incur repair expenses as a result of home inspections, termite inspections, township inspections and appraisals.

Real estate taxes are pro-rated as of settlement day. Buyers reimburse sellers for taxes paid in advance.

The warranty protects buyers from many problems that may occur after settlement. Buyers can avoid the risk of unexpected, expensive repairs at a time when they are ill-prepared to deal with them.

The warranty also provides a layer of protection to the seller during the time of the listing contract. For further details, review the information provided at www.ahswarranty.com