What's yours? What's ours?

PPL had an informative piece on who is responsible for certain items connecting to your home. PPL will repair/replace your "Service Drop".
"The point of Attachment" the home owner is responsible for the anchor that attaches the service drop to your home. "The Service Entrance Cable" is the owner's responsibility, this runs along side the home to the meter and the line that connects to your service panel. "The Meter Base" is the responsibility of the owner, however the "Meter" is covered by PPL. "The Service Panel or Fuse Box" and all existing interior wiring is the homeowners responsibility. Have a great day!

Protecting Your Privacy & Property

An open house can be a great way to sell your home. It can also be an open invitation to prying eyes. To keep your personal life, well, personal, here are some steps you can take to snoop-proof your house when prospective buyers are around:

1. Clear away mail & paperwork from all surfaces (desk-tops, counter tops, coffee table). Lock up extra-sensitive documents (bank statements, passport, social security card, etc.).

2. Remove diplomas and personal photos from your walls.

3. Store family heirlooms. You don't want your personal effects to distract buyers. A tidy and uncluttered space will help them imagine themselves in the home.

4. Organize closets. Some visitors have no qualms about opening closets and cabinets and peeking into generally off-limit areas. Be prepared by making sure those hidden areas are in tip-top shape.

5. Please hide your prescription medication they can be stolen.

6. Please remove or lock up any guns or ammunition.

If you have any question feel free to email me: findit@LehighValleyRealty.com .

Interesting Fact

Generation Y is about to become a significant part of the homeowner market. Consumers born between 1974 and 1980 owned only 7 percent of U.S. households in 2005, but 26 percent of them plan to buy homes in 2007. (source: National Association of Home Builders)

Mortgage Insurance Now Tax Deductible

A federal law went into effect January 1st. 2007 making mortgage insurance tax deductible for the first time. The new law allows homebuyers to deduct the cost of mortgage insurance premiums on mortgages obtained in 2007. The change in the law is expected to help low-and moderate income buyer, the ones who are most likely to need mortgage insurance. Mortgage lenders require home buyers to pay for mortgage insurance if they make a down payment of less than 20 percent. The ability to deduct premiums on taxes will steer more people into taking a loan with mortgage insurance instead of one with a higher interest rate because of the tax deductible factor. Piggyback loans should slow because of this. The mortgage insurance agency predicts the average tax savings can range from $350.00 to $3,000.00 per year depending on the loan amount. Check with your tax advisor or accountant for additional info. (source The Pennsylvania Realtor 03/07) for more info feel free to email me: findit@LehighValleyRealty.com

Avoiding Home Buyer Headaches

1. Find a REALTOR® who you can relate to. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the agent you chose is both skilled and a good fit with your personality.

2. Remember, there’s no “right” time to buy, any more than there is a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.


3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.


4. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.


5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price may lose you the home you love.


6. Remember your home does not exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself—room size, kitchen—that you forget such issues as amenities, noise level, etc., that have a big impact on what it’s like to live in your new home.


7. Don’t wait until you have found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.


8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.


9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits.


10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home’s most important role is as a comfortable, safe place to live. I hopes this help you in your journey! If you have any other questions drop me a line at: findit@LehighValleyRealty.com