Prudential Premier Properties | Springfield, PA

Timing the Market

admin — Fri, 02 Jul 2010 02:46:45 +0000

Economics is simple, right? What is the one thing we all remember from that Econ 101 course we took many years ago? Its all about supply and demand.

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.

HUD Foreclosures are Good Deals!

admin — Thu, 20 May 2010 16:28:02 +0000

When a lender forecloses on an FHA loan the property will eventually be sold by HUD.
These foreclosures are an excellent opportunity to buy a home at below market prices.

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.

Deposit Money the Key to a good deal

admin — Thu, 20 May 2010 16:18:38 +0000

In my 25 years of selling real estate I have learned that smart listing agents look for as much deposit money as possible. I have seen several buyers walk away from $1000 or $2500 deposits. Its rare that buyers put up 10% of the purchase but they should be expected to provide a healthy deposit. It needs to be enough really commit the buyer to the purchase. If buyers balk at this then that should be a red flag. I would have concerns that they may have other financial issues that were not disclosed.

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

Beware of “Wholesalers”

admin — Wed, 28 Apr 2010 16:16:10 +0000

I just want to let people know that there are lot of shady characters out there who are trying to collect real estate commissions without having a valid real estate license. They are looking for “finders fees” for buyers that they will send to you. This is an illegal activity. In the state of Pennsylvania you can not be compensated in a real estate transaction without having a license. These people tend to use Craigslist. They market properties that are listed by Realtors and get buyers to contact them, they then turn around a try to get paid at the settlement. We recently encountered one such character who has been reported to the Real Estate Commission.

Sell Your Home Today!

admin — Tue, 02 Feb 2010 16:34:46 +0000

I have investors with cash looking to buy homes that
would make suitable investments.
They can close in 30 days if necessary.

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

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

Property Management

admin — Sun, 17 Jan 2010 19:52:40 +0000

Wes Gerstenkorn is a seasoned property manager with over 25 years of experience. I have worked with landlords, tenants, township inspectors, section 8 inspectors, and contractors. I have handled evictions. I currently manage over 50 rental units in Delaware county. My inventory consists of apartments, rowhomes,student rentals and section 8 housing. My goal is to add value to your investment by providing the following services:

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.

Buyer’s Closing Costs

admin — Sun, 17 Jan 2010 19:02:56 +0000

The costs associated with purchasing a home can be quite mystifying. Here is a quick overview that should be discussed with your Prudential Premier agent and also with your mortgage lender:

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.

Seller’s Closing Costs

admin — Sun, 17 Jan 2010 17:45:37 +0000

There are a number of expenses associated with the sale of your house. These should be discussed with your agent. The following is a list of the most common items seen on the HUD-1 settlement sheet:
Sales Commission (negotiable, 4-6 % of selling price)
Transfer Tax (typically one percent of the selling price)
Brokers Service Fee ($250 fee for providing necessary closing documents-negotiable)
Local Township Permit (typically $50-$100, varies by township)
Tax certifications (usually $65 for obtaining proof that all RE taxes have been paid)
Overnight Mail Fee (to ensure that payoff funds arrive in 24 hours)
Negotiable items such as buyers closing costs and home warranties.

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.

Marketing Plan

admin — Sun, 17 Jan 2010 14:07:17 +0000

Our goal is provide as much exposure for your listing as possible. We use a variety of internet media, newspaper advertising, and sometimes direct mail to a target group.

Your listing will be “Multiple-Listed” through TREND. We will provide quality photographs and a detailed description of your property, which will highlight the positive features of your home.
By providing internet exposure on TREND, REALTOR.COM, TRULIA, ZILLOW and several other internet sights your home will be marketed 24/7. Most potential buyers get their information on-line.

We recommend that you allow us to use a “For Sale” sign and to create and distribute a detailed marketing piece. These tried and true methods are very effective tools.

Your agent will discuss with you the benefits of having open houses for the public and for other Realtors.
We will monitor the showing activity and provide continuous feedback. We will keep you aware of changing market conditions, changes in interest rates and government stimulus programs.

You need to be kept current on new listings and sales activity in your neighborhood. The marketing of your home is a dynamic process. You agent will work closely with you, always keep your best interest in mind, and make every effort to find a achieve a smooth and successful transaction.

Your Real Estate Career

admin — Thu, 14 Jan 2010 14:49:10 +0000

We are always looking for motivated individuals who are interested in real estate sales as a first or second career. A good agent must be an organized self starter who is willing to commit the time and energy required to ensure success. Excellent people skills are a must. We will provide the training and tools necessary for you to succeed.

Your real estate career should be financially rewarding! Your compensation will be based on your experience and productivity. As your sales increase, your commission splits will also increase. Many brokers charge their agents monthly fees and royalties. Our full time agents do not pay franchise fees and there is no monthly cost to keep your license active.

Wes Gerstenkorn is a “working broker”. I list and sell . I am not looking to squeeze my agents. I want them to succeed and make money. I am interested in providing a positive, productive, work environment for motivated and energetic people. We will succeed as a group. We can mutually benefit from our collective experiences. I am always supportive of my agents and will always be available to assist them.

If you are looking to start a new career, or are not content with your current situation then we should talk. I keep all inquiries confidential. Call me on my cell at 267-226-4267 or send an e-mail to wesgerstenkorn@prodigy.net

I look forward to meeting you!