Philadelphia Economy Booming Established Professionals in Demand

The housing bubble burst of 2008 seems like forever ago. The stock market has recovered, home prices continue to rise, and so too is the economy. Philadelphia is currently seeing a large amount of growth in commercial and residential construction. Take a quick drive around the city and you will see an abundance of new construction projects taking place, including the largest development in the city’s history, Comcast Tower.

The job market in Philadelphia has been continuing to improve. Between the years of 2008 and 2013, Center City and University City saw an 11 percent job growth, according to the U.S. Census Bureau’s most recent data.  When it comes to jobs that pay middle to high wages, there has been a 28 percent increase.

If you are looking to relocate or settle down with a new higher paying job, then Philadelphia is the place to call home.  According to the online career site, CareerBliss.com, Philadelphia ranks number seven in its most recent survey of The 10 Happiest Cities For Young Professionals.  Home prices in Eastern Pennsylvania and New Jersey continue to remain affordable compared to other large metropolitan areas, making it highly sought after.

Philadelphia has long been known as a city rich in history, but it’s clear that the focus now is on making new history goals with a flourishing economy, a strong emphasis on jobs, education, and economic development.

Eastern Pennsylvania and New Jersey have been attracting Millennials for some time now, but recently demand has drastically increased for those established professionals looking to advance in their careers.

The Silva Group specializes in helping business professionals in the relocation process to Eastern Pennsylvania and New Jersey.  Let us help you find your next luxury home in Eastern Pennsylvania or New Jersey.

View our current list of luxury homes in New Jersey and Eastern Pennsylvania here.

Philadelphia Experiencing Construction Boom- Stay Ahead of Prices- Buy Now

We all know the housing crisis is over and the economy is rebounding. Here in Philadelphia we are seeing a boom in construction in the residential and commercial sector.  Just last year the Associated General Contractors of America ranked the Philadelphia metro region number three in the country for the number of construction jobs added.  The business sector will tell you that where construction is, there too is a healthy economy. If this is true, then Philadelphia is in a great position and we will continue to see growth.

There is one thing for sure, and that is that Philadelphia is growing.  Our outstanding universities are expanding, residential and commercial construction are on the rise, and numerous developments are slated throughout the city. BizPhilly just wrote a wonderful article about how this construction boom will positively impact our economic future here in Philadelphia. Check it out here.

With the economic future of Philadelphia only looking brighter, now is time to get ahead of the boom and purchase property before prices rise. If you were considering purchasing a home in the Philadelphia region, now is the time. No matter if you are looking for a new home, second home, or even an easy rental property, Philadelphia is the place to make that happen.  Stay ahead of the game and buy or invest before the boom happens. Check out these affordable condos, and get in while Philly is growing.

The Silva Group offers unbeatable service to all clients in eastern Pennsylvania and New Jersey. Let us help you buy your next home in Philadelphia. Contact Us today with all of your real estate needs or call us direct at (610) 520-0100.

Preparing Your Pennsylvania or New Jersey Home for Fall

Sadly the warm days of summer had to come to an end. Trees are beginning to change, and leaves are starting to fall.  Autumn has arrived.  Before we know it the cold winter weather will be hitting the east coast. Now is the time to begin preparing your Pennsylvania or New Jersey home for the months ahead.

Here are a few tips to get your home in its best shape before the cooler months to come

Gutters- With the leaves beginning to turn and slowly starting to fall, in the next few weeks these leaves could be clogging your gutters.  Now is the time to start cleaning out your gutters and drainpipes. This will prevent future water damage and clogging.  You also need to periodically check for clogging in your gutters before winter.

Furnace- The days of turning on your heat may be here any day. Don’t wait till it’s time to turn on the heat before testing your furnace. The last thing you want to have happen on the first frosty night is not having heat.  Change your filters, clean out all vents, and make sure your furnace is in working order. You may want to hire a licensed heating contract to perform yearly maintenance. Furnaces that are properly serviced last longer.

Lawn and garden-   Remove leaves from your yard as they fall, and use this time of year to reseed patchy areas you may have throughout your lawn. Now is also the time to plant spring flowering bulbs.

Fireplace– There is nothing more inviting than starting a fire in your home’s fireplace when the weather starts to cool. However, if the flue isn’t clean you could be in for some big problems. Before lighting up your fireplace for the first time this year clean your flue of any soot buildup.  Check your chimney to make sure no critters have chosen to make it their home as well.

Doors & Windows- Check all doors and windows for weather stripping that may need to be replaced. Weather stripping plays a large part in reducing the amount of cold air that can enter in your home in the windy winter months. Also inspect any caulking around these surfaces, and if its looking worn or cracked, now is the time to re-caulk.

If you are looking to buy or sell your eastern Pennsylvania or New Jersey home this fall, The Silva Group would be delighted to help.  Contact us at any time or feel free to call us directly at (267) 202-4955.

The Silva Group is comprised of Philadelphia and New Jersey’s best and brightest in the real estate industry. Our team is more than a bunch of real estate agents packed into an office – we are friends and family members who all have one passion – to provide the very best real estate experience possible to our clients.

Top Reasons Contracts Fall Through

VoidSelling your home can be an emotional roller coaster. You may be jumping for joy one day from receiving an offer, to tears the next if the buyer the backs out.  Losing a sale can be a stressful experience, so here are some tips to avoid your contract from falling through.

Buyer’s Remorse – Buyer’s remorse occurs when a buyer develops psychological backlash from choosing to make a major purchase. The first sign of this tends to be seen by the buyer beginning to pick the home apart, and scrutinizing the report from the home inspection.  To help alleviate this from happening, continue with the selling process throughout the escrow period.  An experienced real estate professional should remind the buyer of what a good value the home is, and focus on the many benefits and features that the home offers.  A substantial amount of earnest money also helps demonstrate the buyer’s commitment to the purchase of the property.

Appraisal Value-  During the real estate meltdown some appraisers took some heat, and some have begun being more conservative when it comes to determining the fair market value of a home, which at times may result in a low appraisal.  To avoid this from happening you want an experienced Realtor in your corner that can defend the price by showing comparable sales, and can work with the appraiser to justify the pricing.

Contingencies-   In today’s real estate market it is common that there is some form of conditions or contingencies in the real estate contract. In order to successfully close the transactions these must first be resolved.  A poorly written contract with contingencies that are not easily resolved is a disaster waiting to happen. Avoid this by being sure that all involved in the transaction have a clear understanding of each contingency. There should also be a clear deadline in place as to when the conditions will be resolved or removed.

Inspections- An undesirable home inspection report can quickly become a deal killer.  To avoid any surprises that may come up at the time of inspection, choose as a seller to have a pre-inspection done prior to putting your home on the market.  This provides you with time to address any issues that may be on the report. However, any item that is on this report will also need to be disclosed to a buyer no matter if it is fixed or not.

Poor Communication– When it comes to closing on a real estate transaction the biggest challenge tends to be communicating with all parties involved.  Poor communication among and missed deadlines can create problems which result in a contract falling through. An experienced Realtor should be on top of any deadlines so that they are met, and in communication with all involved to prevent the contract from falling through.

The Silva Group is experienced in transaction management, and we will be with you throughout the whole process. We will do everything in our power to prevent the contract on your property from falling through.  Want to know more about how we are different? Learn more here.

Contact us at any time with any questions or concerns you may have. Curious as to what your current home is worth? Find out here.

 

 

Top Reasons That Homes Fail To Sell

for_saleIs your home sitting on the market after weeks or even months of numerous showings? Are you struggling to understand why the traffic is there, but no offers are coming in?

Here the top reasons that homes fail to sell.

  1. Overpriced– No matter what you feel your home’s value is worth, the market in reality dictates how much your home will actual sell for. Buyers are looking at homes that are comparable to yours, and will compare how yours stacks up.  If you are priced a significant amount above those around you, this will work against you.
  2. Timing- When it comes to buying a house there are more buyers looking to purchase a home in the spring, summer, and fall. During the cold months of winter the number of active home buyers drops off.  This is not to say that you cannot sell a home during winter, you just need to take into consideration what season is it when you list your home. It may take longer than you anticipate if you list your home for sale during winter. However, the good news is that buyers who are looking to purchase in the winter tend to be very serious and are ready to act quickly.
  3. Not Visible- In today’s market buyers are looking for homes online. If your home is not marketed in all the places they are looking, they may just be passing you by. Using an experienced Realtor can prevent this from happening.
  4. Bad Photos- Are the photos of your home doing it justice? If a buyer does stumble across the listing of your home, and comes across very few photos that make your home appealing, they are less likely to arrange to view it in person. The photos need to be well-lit and show of the best your home has to offer.
  5. Fixer Upper- There are some buyers who are willing to take on the work needed to fix up a home that is need of a little TLC. However, if your asking price is comparable to homes that do not need repairs this can be a big turn off. Before listing your home for sale fix everything that you can so that when potential buyers view it they can focus on what your home has to offer and not how much it will cost them to repair it.
  6. Personalized- Buyers want to be able to picture themselves living in your home, and they have a hard time doing that if you have too many personal touches throughout. Remove those family photos from your shelves, and the heartfelt drawings from your children off the fridge. Declutter by removing any knickknacks you may have.
  7. Curb Appeal- If buyers are not happy with the state of your home on the outside, then more than likely they will not schedule an appointment to view the inside. The outside of your home is the first impression a potential buyer gets of your home. Spruce it up by making sure all pathways are swept, the lawn is well kept and mowed, paint is not chipping, and it looks overall well maintained.
  8. Out Of The Norm- The idea of turning your garage into a play room for your kids may have sounded like a good idea at the time, but when it comes down to it, it is out of the norm. Changes that you have done to your home that are not customary may be hurting you. If possible undo changes, or be realistic in that you may have to take a lower price for you home.
  9. Don’t’ Smother- Curiosity may be getting the best of you, but do not smother a buyer when they are viewing your home. Let your professional real estate handle things.  There is no need to stay in the home while there is a showing. It is in the hands of a professional and will be well cared for.  Buyers tend to feel they cannot express their real opinions when the sellers are around. However, you need to know what potential buyers think so that you can work to make your home more appealing.
  10. Solo- It’s true that a Realtor’s fees can impact the total amount you will walk away from with the sale of your property. However, trying to do it yourself puts you at risk of lowering your total proceeds, especially if the home doesn’t sell at all.  An experienced Realtor is trained in the skill of negotiation and is familiar with all the legal aspects of selling a home.

Hiring an experienced Realtor that is familiar with your local area can help get your home sold in a timely fashion. The Siva Group is experienced in the Pennsylvania and New Jersey real estate market, and we are ready to help you get your home sold today.  Contact Us now to see how we can help you sell your home!

8 Costly Mistakes to Avoid When Selling a Property

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Prior to selling your Pennsylvania or New Jersey home be aware of these 8 expensive mistakes that sellers make.

  1. Not Prepping- Don’t jump into selling your home without first preparing your home by making minor repairs. A fresh coat of paint provides your home with a fresh new look. Consider hiring a professional cleaning service to deep clean your home.
  2. Home Inspection- Prior to placing your home on the market you need to have a pre-listing home inspection done, it can save you a lot of stress and aggravation down the road. Knowing of any issues with your home allows you to address them by having them fixed, or being prepared to tackle them during negotiations with a buyer.
  3. Wrong Realtor- You may be tempted to use a Realtor who is a friend, a relative, or a friend of a friend, but choosing the wrong Realtor can be a big mistake. Before picking a Realtor look for one with a long history of success with listing and selling homes. A Realtor who is knowledgeable about your local market is a must.
  4. Forgetting Curb Appeal- Prepping your home for sale goes beyond just preparing the inside. The outside of your home is the first thing a potential buyer will see, and it needs to make a good first impression. Pull weeds, mow your lawn, and apply a fresh coat of paint to your front door.
  5. Not Disclosing Issues-  If you are aware of any problems with your home you must disclose it.  More than likely these issues will show up during a home inspection.  By not disclosing known problems you run the risk of a lawsuit down the road.
  6. Not Pricing Your Home Right- Hire an experienced Realtor who knows your market, they can help you determine a reasonable price to list your for sale at. Overpricing your home will result in you having to reduce the price of your home multiple times, and it could run off potential buyers who felt the home was out of their price range.
  7. Not Being Prepared- Be prepared before selling your home by putting a plan in place if your home were to sell quickly, or a backup plan if the process were to take longer than expected. Know what your mortgage payoff is and what the closing costs are involved.
  8. Not Detaching Yourself- It is not uncommon for home owners to become emotionally attached to their home. A lot of life has happened and memories were made there. However, potential buyers want to be able to envision themselves living in your home. Remove any personal photos and declutter prior to listing your home for sale.

Selling your home can be a challenge at times, but hiring an experienced Realtor will help you avoid these common mistakes. The Silva Group is here to help. Contact Us today.

Curious as to what your current home is worth? Find out here.

Real Estate Excellence

Each year, we strive to provide our clients with nothing but the best service and premium level experiences with all their real estate endeavors. For our team, 2012 was a great year and we have you to thank for it! Moving forward, we expect to provide you with an even better year in 2013 and beyond.

Real Estate Excellence

In fact, in an effort to gain as much exposure to new ideas, innovations and ways to consistently improve upon our already renowned client services, we regularly attend seminars and conferences throughout the region and country. These are designed to connect top real estate producers around the country so everyone can share the concepts that are working for each.

We recorded the video on this blog from gorgeous San Diego California, yet another mastermind event and we walked away with some great tools that you’ll surely see implemented soon.

National Networking
One of the benefits of our engagement with so many top-producer events that we are a part of is our connection with countless brokers and Realtors® throughout the country. If you or someone you know is looking to relocate to another area, we can share references of those area’s top experts.

Market Update
In terms of real estate activity, our region is on fire! Though inventory levels are lower overall, we are still seeing plenty of movement. Looking at the number of homes available on the market this January as compared to the same time last year, we are down 14.5% — meaning that buyers are out there competing for fewer homes.

When you factor in that buyers are eager to lock in the amazing interest rates that are still historically low, we have an ideal marketplace for both buyers and sellers alike.
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If you are ready to jump off the fence and get started making your real estate dreams become a reality, contact us today! We would love to be a part of it and help to make it a fantastic experience!

Exceeding Expectations

"There is no one else I would trust with this difficult process. These guys are top notch all the way. They know their business extremely well and the outcomes prove it. Very easy to work with. We are truly grateful to them."A. Isabella

From the beginning to the final signed documents, the Jeff Silva TEAM is with you all the way. Their professional and courteous staff will go out of their way to resolve any issues that you may encounter with your home finding venture. I really enjoyed working with them and the best part was how Quick and painless it was to close.S. Armstrong