Mike Campo & Terri Swain’s Blog

The market we’re currently in is actually one of the best opportunities for a savvy homeowner looking to move up!  You may be thinking about living in a more desirable neighborhood, a larger or better-appointed house — in any event you’re considering selling your house and “trading up.”  There may be no better time. 

Here’s why!  Trading up is one of the best opportunities of a “Shifting” market.  Concerned about fallen home values?  Here is the most important thing to remember:  The SMALLER LOSS at sale is compensated by GREATER SAVINGS at purchase … and your new home is better positioned for appreciation when the market rebounds. 

Trading up is also the same strategy employed by successful real estate investors.  On average, over 60% of an individual’s net worth is in their home.  Over time, trading up can improve net worth and accelerate the growth rate of our financial bottom line. 

If you or someone you know, would like a confidental consultation please call me at 215-262-9686, email me or write a comment below!  If you’re curious to see what homes are in your price range, please visit my at www.HomeHunterPA.com or click here to SEARCH ALL HOMES.  Thanks!  Terri Swain  KELLER WILLIAMS Real Estate

According the Remodeling Online’s 2007 survey in 60 cities across the country, the top 6 mid-range Home Improvement projects that have the highest cost recouped are as follows: 

1. Siding Replacement (cost recouped 94.1%)
2. Wood Deck addition (cost recouped 90.3%)
3. Minor Kitchen Remodel (cost recouped 82.8%)
4. Vinyl or Wood Window Replacement (cost recouped 80.5%)
5. Bathroom Remodel (cost recouped 75.4%)
6. 2-story Addition (cost recouped 73.4%)

These are nationally averaged percentages.  Actual cost may vary depending on the types of material and job cost.  Before you start tackling that high-yield improvement, know that there’s a change you could “over-improve” your home.  For a personal consultation, please call me!  I can give you advice on types of improvements and if they will pay-off in the long-term.  It may interest you to find out what your options are to sell, and then purchase a more upgraded home - saving time, energy and money! 

You can find more interesting Real Estate Articles on my website - click here.

Please call me at 215-262-9686, email me.

An article written on November 12, 2008 on Philly.com touted the region’s real estate market as outperforming many other areas of the country and the nation as a whole in the third quarter of 2008.

The study, which covers our Philadelphia area, Camden and Wilmington as a single entity, said home values in the third quarter fell 5.5 percent from the same perioid of 2007 - slightly more than half that of the United States as a whole in the same time. 

What’s more, just 4.4 percent of area homes bought in the last five years were considered “under water” - meaning that more is owed on them then they could bring if they were sold today.  The national figure for homes with negative equity is 14.3 percent. 

Our Philadelphia area is showing more stability than most other markets.  Indicatores suggest that the area’s value declines may stay relatively small.  The area has a ”healthy five-year annualized appreciation of 6 percent,” compared with 3.4 percent nationally.  

 It seems that Philadelphia may excape the worst of the housing market woes affecting much of the rest of the country. 

Questions about the market in your Neighborhood?  Please call me 215-262-9686, email me or post a comment below!

The legislation passed this week is critical to stopping the economic turmoil that millions of Americans are facing.  The action will go a long way toward ending the current economic crisis crippling the housing and financial markets. 

According to the National Association of Realtors President Richard Gaylord:  “This legislation would quickly restore liquidity to the mortgage market, which would stabilize the housing market and protect homeowners. Mortgages as well as personal and small business loans would become more available and less costly. Protecting Main Street not only benefits individuals, families and communities, but also supports the larger U.S. economy.”

1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.

2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.

3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.

4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.

5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?

If you or someone you know is considering a home sale, we can provide you even more Tips on how to prepare your home so it makes it’s best impression!  Please feel free to contact Terri Swain of KELLER WILLIAMS Real Estate at 215-631-1930 or email

These questions will help you decide whether you’re ready for a home that’s larger or in a more desirable location. If you answer yes to most of the questions, it’s a sign that you may be ready to move.

1. Have you built substantial equity in your current home? Look at your annual mortgage statement or call your lender to find out. Usually, you don’t build up much equity in the first few years of your mortgage, as monthly payments are mostly interest, but if you’ve owned your home for five or more years, you may have significant, unrealized gains.

2. Has your income or financial situation improved? If you’re making more money, you may be able to afford higher mortgage payments and cover the costs of moving.

3. Have you outgrown your neighborhood? The neighborhood you pick for your first home might not be the same neighborhood you want to settle down in for good. For example, you may have realized that you’d like to be closer to your job or live in a better school district.

4. Are there reasons why you can’t remodel or add on? Sometimes you can create a bigger home by adding a new room or building up. But if your property isn’t large enough, your municipality doesn’t allow it, or you’re simply not interested in remodeling, then moving to a bigger home may be your best option.

5. Are you comfortable moving in the current housing market? If your market is hot, your home may sell quickly and for top dollar, but the home you buy also will be more expensive. If your market is slow, finding a buyer may take longer, but you’ll have more selection and better pricing as you seek your new home.

6. Are interest rates attractive? A low rate not only helps you buy a larger home, but also makes it easier to find a buyer.

As of October 1, 2008 FHA’s new down payment and Loan-to-Value (LTV) requirements will go into effect.  Here are the 5 things you need to know about these changes:

• One single down payment requirement of 3.5% for all purchases
• Closing costs/prepaids are in addition to the 3.5% down (6% seller contribution is allowed)
• New maximum LTVs (based on lower of sales price or value) are:  (1) 96.50% for all purchases  (2) 98.28% for all regular rate and term refinances, cash out remains at 95% and (3) 98.52% for all streamline refinances
• Purchases already in the pipeline will have until December 31st to be assigned a case number.  After January 1st, 2009 all purchases will require the new down payment requirements.
• This article is courtesy of James Natale, Private Mortgage Banker with Arlington Capital (A division of Gateway Funding)  Phone: 215-872-4625 or email 

If you or someone you know is considering the purchase or sale of a home, please feel free to contact Terri Swain of KELLER WILLIAMS Real Estate at 215-631-1930 or email

Piles of old tires can not only look unsightly, but also create a breeding ground for disease-carrying mosquitoes around your home.  To mitigate these problems, the Montgomery County Commissioners have authorized the Waste System Authority to hold a free tire collection so that residents can get rid of these hard-to-dispose-of items.

On Saturday September 13th from 9:00AM-3:00PM at the 2015 Joshua Road, Lafayette Hill, PA 19444 in Whitemarsh Township; Montgomery County will hold a tire collection for County residents only. A maximum of 4 tires per vehicle will be allowed, and no tires from commercial activities will be accepted.

Please join the Montgomery County Waste Authority on September 13th on Joshua Rd in Lafayette Hill to create a cleaner and safer place to work and live. Four tires maximum.  For additional information, contact: Art Feltes, Montgomery County Waste Authority, 484-645-7081 or at afeltes@wsaemc.org

Montgomery County has successfully offered residents free household hazardous waste and used-electronics recycling collection for over fourteen years, partnering with Bucks, Chester, Delaware, and Philadelphia Counties. This program has collected over two million pounds of harmful waste last year. Our five-county achievement has resulted in the Governors Award for Environmental Excellence.

If you are thinking of Selling your home, we can provide you with a handy guide of 101 Ways to Prepare Your Home For Sale.  Ridding your home of old, unwanted items is just 1 of many ways of making your home more attractive to prospective buyers.  We can offer you invaluable information to help you get the best possible resale value when selling your home.  Contact us.

The Homebuyers Program, established and administered by the Commissioners and the Department of Housing & Community Development, is directed to assist low, moderate, and median income households interested in purchasing a home in Montgomery County. Eligible participants may receive assistance with closing costs. Participants will be required to complete a counseling package and meet with the Counselor one on one to go over budget, credit, mortgage financing and home ownership responsibilities. Funds for the program are supplied through the County’s Affordable Trust Fund in coordination with the Recorder of Deeds Office.  Find out more by visiting the department of Housing and Community Development at Montgomery County.  We would be happy to provide you with a no-obligation Homebuying consultation that will give you the information you need to make informed Real Estate decision.

Whether you like to hike, jog, ride a bike or a horse, Montgomery County has the perfect place among its numerous parks and historic sites.  Bird watchers, fishermen and enthusiasts of Revolutionary and Civil War renenactments will also find an extraordinary selection of amenities to meet their needs.  Montgomery  County has a network of multi-use trails that wind through the scenic countryside. Montgomery County owns and/or manages more than six thousand acres of public open space, including eight parks, a major natural area, five historic sites, and lands along four primary county greenways.  34 miles of existing county trails will be augmented by another 28 miles to be developed by 2007.

These assets are the existing components of the County’s Open Space System.  PHS strives to conserve, manage and enhance the County’s natural and cultural resources and support and promote its visions and values.  We adhere to an interdisciplinary, cooperative approach to provide quality landscape environments, facilities, programs, and special events that meet County-wide needs for recreation and leisure.

Each location offers unique opportunities to enjoy your favorite recreational activity, or participate in environmental and historical events and programs.

Are you interested in a specific area of Montgomery County, PA?  Check out the individual municipal websites of Montgomery County townships and boroughs to obtain more specific detailed information about the county.

• Abington Township - Abington Township
• Cheltenham Township - Cheltenham, Elkins Park, Glenside
• Franconia Township - Indian Valley Area (Souderton, Telford, Harleysville)
• Hatfield Borough - Borough of Hatfield
• Hatfield Township - Hatfield Township
• Lansdale - Borough of Lansdale
• Limerick Township - Pottstown / Spring Ford Area
• Lower Gwynedd - Lower Gwynedd / Blue Bell
• Lower Merion Township - The Heart of the Main Line
• Lower Providence - Audubon, Collegeville, Troooper, Eagleville
• Lower Salford Township - Harleysville, Mainland, Lederach and Vernfield
• Marlborough Township - Pennsburg, Perkiomenville, Sumneytown
• Montgomery Township - Montgomeryville, Lansdale, North Wales
• North Wales Borough - Historical North Wales, North Penn area
• Perkiomen Township - Collegeville, Trappe, Schwenksville, Rahns
• Plymouth Township - Plymouth Meeting area
• Schwenksville Boro - Bordering Limerick, Perkiomen, Skippack and Spring Mount
• Skippack (Village District) - Historic Village of Skippack
• Skippack Township - Perkiomen Valley, Evansburg State Park
• Souderton Borough - Souderton (Montgomery County portion)
• Towamencin Township - Central Montgomery County, North Penn area
• Upper Dublin Township - Maple Glen, Ambler, Dreshertown
• Upper Merion Township - Valley Forge, King of Prussia
• Upper Providence Township - Oaks, Schuylkill Canal & Black Rock
• Whitemarsh Township - Fort Washington, Lafayette Hill, Conshohocken
• Whitpain Township - West Ambler, Centre Square, Blue Bell, Broad Axe
• Worcester Township - Center Point, Fairview Village, Cedars, Methacton area