“What do you get for under $250,000?” A great four bedroom home in Ben Avon according to Barbara Corcoran, real estate contributor for the Today Show.

Recently, the Prudential Preferred Realty listing 140 Laurel Avenue in Ben Avon was featured on the Today Show segment “Hottest real estate under $250,000″.

Here is what Today real estate contributor Barbara Corcoran had to say about this four bedroom home listed at $219,900.

“This is a neighborhood on the Ohio river, just eight miles from downtown Pittsburgh. this is a 1910 gem that fits right in. The whole neighborhood has houses like this.

The entry has turned staircase with original wood he details. The living room has a gas log fireplace with a mirrored mantel and a brand-new joint job that sets off the white trim. the dining room has wood floors, and a built in china cabinet. The kitchen has been updated with tile floor and a back splash and the courtyard has a cabana and a stone wall planting bed which a lot of people like. Easy to reach, all surrounded by a tall, wood privacy fence.”

For more information on this home please visit our website to contact the listing agent.

Prudential Real Estate, a Brookfield Residential Property Services company, today released a new national survey showing that Americans are significantly more optimistic about homeownership than they were a year ago. According to the second-annual Prudential Real Estate Outlook Survey, a full 60 percent of Americans have favorable views toward the real estate market. That’s up 8 points since last year.

The survey shows that signs of increasing optimism are widespread:

• With interest rates at historically low levels, 96 percent agree or somewhat agree that now is a good time to buy.
• A full 70 percent of respondents have some degree of confidence that property values will improve over the next two years; with an 8 point increase in those very confident or confident compared to last year.
• 63 percent believe that real estate is a good investment despite the recent market volatility; that’s up 11 points from last year.

The survey confirms that despite the recession, homeownership remains a central part of the American Dream. Eight in 10 respondents said homeownership is very important to them; only 15 percent said the economic downturn made homeownership less important.

“Respondents told us what our sales professionals see every day that, despite recent market volatility, homeownership remains integral to the dreams of most Americans and that consumers’ confidence in the housing market is returning,” said Earl Lee, president, Prudential Real Estate. “This is good news for home buyers and sellers, communities and our economy as a whole. As more people look to take advantage of historic interest rates and prices, we believe the foundation for a sustainable recovery is in sight.”

The survey also highlighted strong ties between homeownership and the community: 77 percent agree that homeownership strengthens a sense of community with 87 percent agreeing or somewhat agreeing that neighborhood comprised of homeowners have a stronger sense of community than neighborhoods made up mainly of renters. This is critical in an environment where two in three respondents believe community feelings in America are declining.

Among the generations, 94 percent of respondents believe that finding the right home and community are crucial to helping their family be happy.   Only a small minority of older Americans said the recent housing crisis made homeownership less important to them. Nearly half Gen Y respondents said it made homeownship more important. Gen Y’ers are particularly optimistic about the road ahead with 72%  expressing favorable views about the residential real estate market.  

“Characteristically, many of these consumers, particularly Gen Y, share a firm sense of family and community,” Lee said. “It’s not surprising now that they’re embracing homeownership to build on that sense.”

The survey also highlighted consumer caution in a recovering real estate market: 93 percent of respondents said that the housing crisis reminds them that they must be more careful about buying and selling property. More than 90 percent of respondents said a good real estate sales professional can help them make the right choices about homes and communities; and 71 percent believe good agent representation is more important than ever, up 4% from last year’s survey.

Methodology: Interviews with 1,251 Americans who are “in the market” to buy or sell a home were conducted online by Palisades Media Ventures and Penn Schoen Berland, between Feb. 10 and 20, 2012. Respondents are aged 25-64 with a household income of at least $50,000, and either recently bought/sold a home or are considering buying/selling a home. The margin of error is ± 2.8% for all respondents and higher for subgroups.

A comparison of February 2011 to February 2012 data for the 13-county region the West Penn Multi-List serves shows residential homes placed under agreement increased 34.34 percent (2,193 homes versus 2,946), while new listings were up 15.76 percent (2,373 homes versus 2,747).

“We’re enjoying somewhat of a spring awakening in the Southwestern Pennsylvania real estate market,” said Ron Croushore, current president of the West Penn Multi-List, Inc. and president/owner of Prudential Preferred Realty in Pittsburgh. “We’re starting to see significantly more homes listed for sale, which should indicate a busy spring and summer real estate season in our region.”

Print or email the flyer with all the February market stats by clicking the link below. Or find if in the How To section in Printable flyers section.

In today’s competitive real estate market, many homeowners go to great lengths to help their home stand out from the competition, from staging to landscaping to replacing windows. An important place to start, however, is at the top. Does your roof add or subtract from the salability of your home?

Any signs of aging or staining will alert a buyer to a potential “leaky roof” issue and/or mold in your attic…and nothing scares away a buyer quicker than mold. Following are some tips for making sure your roof is in showing condition, courtesy of GAF, a leading manufacturer of residential and commercial roofing.

• One of the first things a prospective buyer notices, a home’s roof can represent 40 percent or more of your home’s curb appeal, so make sure it is cleaned before putting your home on the market. Nothing turns a buyer away faster than a black or dirty looking roof. Get rid of any black staining or signs of debris on the roof.
• Head into your attic and look for signs of a leaky roof. This is the best spot for noticing water damage. Have any leaks repaired right away. Even if leaks go unnoticed by a buyer, they will be discovered by the home inspector and cost you more money to fix quickly or could potentially lead to losing the sale all together.
• Investigate your roof for missing granules on shingles, curling on the edges of shingles or shingles that have come loose. Again, it is best to make these repairs quickly before heading into the sales process.
• Make sure to keep records of all repairs/enhancements made to your roof prior to your home’s sale. Have your real estate agent add these details to the listing information. A sound, attractive roof can be just the competitive differentiation your home needs.

By Keith Loria

While today’s real estate market is full of low mortgage rates and attractive prices, purchasing a home is still out of reach for many Americans who are putting off purchasing a home and going the rental route instead.

According to a 2010 study of the Joint Center for Housing Studies of Harvard University, over the last five years, the number of renter households rose nearly 10 percent (3.4 million).

A good rule of thumb when considering whether to rent or buy is to predict how long you will stay in the home. If you plan on moving and selling in less than five years, renting is probably a better option right now.

One of the main factors keeping people from buying is the difficulty in obtaining the mortgage they want to afford the property they desire, causing them to either shop for something smaller and less expensive, or rent for a while until they can improve their financial situation.

The main problem most people have with renting is that you won’t be gaining equity and it feels like you’re throwing your money away. Plus, there’s no tax advantage to renting and you are limited with what changes you can make to the home.

Still, there are many benefits to renting. For one, you don’t need to make a long-term commitment, and it gives a future homebuyer the flexibility and time to figure out the best course of action both personally and economically. Other positives include being able to move when the lease expires, there’s less maintenance work required, and you don’t need to have a large sum of money available up-front to live in a nice home.

For those that choose to buy, over time the mortgage balance decreases and equity builds. You also have the freedom to make any decisions you want—including tearing down walls, building decks and remodeling any room the way you have always dreamed.

On the downside, property values can decrease and you can find yourself owning a home worth a lot less than you paid over time. You also need to have a lot of money up-front and it can sometimes take a lot of time, money and effort to sell if you want to move quickly. Plus, if something breaks or goes wrong, there’s no one to bail you out—you must fix the problem yourself.

While every situation is unique, there are a plethora of rent vs. buy calculators available on the Web that can also help make your decision easier.

To discuss whether renting or buying is right for you, contact our office today.

If you’re like many homeowners, the start of the new year finds you ready to finally tackle those home-improvement projects that have lingered on your wish list. But where do you begin?

First, prioritize those renovations that will have a maximum impact, both in terms of aesthetics and investment values. Also prioritize the projects that will enhance the livability and enjoyment of your home.
Next, decide whether or not it makes sense to handle these projects on your own or call in a professional for help. According to the experts at Sears Home Services, while taking on home remodeling yourself can seem daunting , enlisting the right help can make the process simple and seamless.
Here are three areas of the home to put at the top of your list this year:

The Bathroom

According to the National Association of REALTORS®, one of the best investments in a home is a bathroom renovation. Remodeling a bathroom that’s more than 25 years old substantially increases the value of your home. While your bathroom may not need a complete makeover, updating cabinets, lighting, tiling or countertops can go a long way toward improving design and functionality. Or, consider a few quick fixes, such as a new towel bar, shower-curtain rod, robe hooks or showerhead.

The Kitchen

The kitchen is the heart of the home. And kitchen renovations don’t need to be dramatic to be impactful—updates such as new countertops, cabinets, appliances or flooring can all dramatically improve the kitchen. These improvements can also help yield increased functionality and space throughout the kitchen. For a simple refresh, homeowners can give their kitchen a new look by replacing the hardware on cabinets, painting or updating fixtures. The Floors A great way to upgrade an area of your home and pull a room together is to install new floors. There are myriad options to choose from: carpeting, tile, laminate, porcelain or ceramic tile, vinyl or hardwood. Consult a home-improvement retailer or flooring expert to help make the best choice and to ensure proper installation.

When you are in the market for a new home, you may be going back and forth about whether to buy a newly constructed home or a pre-owned home. What are some of the benefits of newer homes?

Advantages of New Construction

New homes have always had the advantage of modern amenities. The same can be said of today’s energy efficient homes. Thanks to improved building codes and the evolution of green technologies, today’s new homes are far more efficient than homes built just ten years ago. Energy efficient insulation and windows prevent heat loss in winter and maintain cool temperatures in summer. Tankless water heaters and low-flow plumbing fixtures help conserve water and lower utility costs.

New homes with geothermal heating and cooling systems also enjoy greater savings. Geothermal HVAC systems take advantage of the natural heat stored underground, and they are up to 60 percent more efficient than conventional electric or gas systems. Solar electric photovoltaic systems convert sunlight to electricity for more energy independence. With fully integrated systems, some new homes achieve a Net-Zero qualification, which means the structures produce as much power as they consume.

Even if a home you are considering doesn’t have solar panels or geothermal HVAC systems, odds are they are still more efficient than their older counterparts.

New Homes Offer Custom Design Options

If you think the freedom to pick and choose design elements is only reserved for custom-built homes, think again. Builders who work from existing stock plans usually provide buyers with the opportunity to choose cabinetry, flooring and paint color. Some builders even allow buyers to make layout changes or add room additions. Builders like customization because it engages buyers and encourages them to stay involved in the construction process. Buyers appreciate the chance to make design decisions that reflect their own special tastes.

There’s Nothing Like Buying Something New

Let’s face it – there is nothing like buying something brand new. That feeling of “newness” brings with it its own sense of pride. When you buy a newly constructed home, it really feels like it’s yours. No one else has ever lived there. You are the first person to hang pictures on the walls, cook food in the kitchen and shovel snow in the driveway.

Can Be More Economical

In addition to monthly utility savings, often times newly constructed homes are a better value for the dollar. You get new and up to date amenities, and when you do the math, many newer homes are less money per square foot than older homes.

Contact Prudential Preferred Realty

The real estate professionals at Prudential Preferred Realty in Southwestern PA have many newly constructed homes available for sale. Contact us today to learn more about the Prudential Preferred Buyers Advantage and to find out how we can help you find the new home of your dreams.