Q: I have an investment house in Tacony that I am selling. The tenants have moved out and now it is empty. I don’t want to try to get another tenant, but I am worried about someone breaking in and ripping out the plumbing or something. How can this be avoided?

A: It is so easy for someone to illegally enter a vacant house. They can break down the door or break a window and, since no one is there, thieves and vandals are free to wreck havoc by having parties, stealing anything and everything worth value, or leaving the water on to do even more damage when they leave. continue reading »

Real NEastate: Not for sale in Wissinoming

Q: I decided to sell my home in Wissinoming but I don’t want the neighbors to know because they are so nosy. I do not want a “for sale” sign or any open houses or the home advertised in the paper. My realtor told me that wouldn’t be a problem, but said he still wants to advertise online. Will my neighbors find out I have my house for sale if I let him advertise on the Internet?

A: You might be able to sell your home without a “for sale” sign, holding open houses or advertising in the paper, but according to the National Association of Realtors, nine in 10 buyers used the Internet to search for their home in 2010. Don’t you want to capitalize on that and find a buyer? continue reading »

Q: I understand interest rates are low and I have heard it is a good time to refinance, but I’m having a hard time finding a bank to do a refi on the home I bought in 2007. Why?

A: If you purchased in 2007, you may have a potential appraisal problem due to the increasing number of short sales and forclosures that are now being included in appraisals.

According to the National Association of Realtors, approximately 38 percent of existing home sales in 2009 were distressed sales, and 12 percent were short sales. Foreclosure sales accounted for two out of three distressed sales, and the rest were short sales.

Stan Reinford from Bank of America Home Loans had this to say: continue reading »