DLP Realty Ranked #1838 Fastest Growing Company in the U.S.

DLP Realty is truly on a roll! Inc. Magazine just recognized DLP Realty as one of the 5000 fastest growing companies in the United States!

Every year, Inc. 5000 publishes a list of the 5000 fastest growing companies in the country. The Inc. 5000 is ranked according to percentage revenue growth. To qualify, companies must be U.S.-based, privately held, and independent.

DLP Realty was ranked #1838 on this list with a 208% 3-year growth! In addition, Inc. 5000 also ranked DLP Realty in the Top 50 for Real Estate Companies and #44 in the top Companies in Pennsylvania.

Click here to see our Inc. 5000 profile!

It’s Official… DLP Realty is the #1 Real Estate Team in PA!!!

We did it again! DLP Realty has been recognized by the Wall Street Journal as the top performing real estate team in PA!!!

At DLP Realty, we take pride in our customer service and promise to maintain our innovative client-centered approach in order to maintain our #1 ranking year after year!

Below is a list of the top-performing real estate teams in Pennsylvania:

DLP Realty Ranked #15 Real Estate Team in Nation by the WSJ

Every year the Wall Street Journal and REAL Trends, Inc. work together to release a research report which identifies the country’s largest and most successful residential real estate firms. This report represents the most trusted standard of measuring the performance of the nation’s leading realty service firms.

The Thousand is a section within that report summarizing the top 1,000 producing real estate teams based on their number of closed transaction sides. This year the Lehigh Valley’s very own DLP Realty is #15 on that list, up 10 places from last year, with 507 closed transaction sides! Not only did the DLP Realty team beat out every other real estate team in the area, we were the highest ranked team in both Pennsylvania and New Jersey.

We are so thankful for all of our agents who helped us achieve this honor and attribute our tremendous success to our innovative client-centered team approach to selling homes.

What is a “Short Sale” and why should I buy one?

The best way to illustrate a short sale is to start out with an example:

Assume a homeowner has an unpaid mortgage loan balance of $200,000, but the property will only sell for $175,000. The lender holding the mortgage agrees to sell the house for the $175,000 amount which, of course, leaves the lender “short” the full amount of $200,000.

These situations are often related to “hardships” such as:

  • Permanent injuries
  • Financial insolvency
  • Job layoffs
  • and more…

While this is a sad situation for the homeowner, it does offer an opportunity for the buyer to grab up a bargain. However, there are several potential downsides that the buyer should be aware of before he/she makes an offer.

  1. Short Sales take a long time
    Once an offer is accepted by the seller, the offer is sent to the lender for approval. This process can take anywhere from 2-12 months.
  2. The lender does not have to accept the Short Sale
    Often, lenders will counter the offer or just refuse it outright. There is no way to know beforehand if the lender will accept the offer. This can often be mitigated by ensuring the buyer is pre-qualified and offers close to market value.
  3. The seller must be committed
    A great deal of paperwork and information is required from the seller in order to complete a short sale. If all of this paperwork is not completed, the lender may reject the deal. Additionally, there have been cases where the seller declares bankruptcy at the last minute in order to back out of the process. Make sure the seller is 100% committed before moving forward with the purchases.

If you are interested in purchasing a short sale… the best thing you can do is contact an experienced real estate agent. There are many myths and misconceptions surrounding short sales. That is why it is important to choose your real estate agent carefully. This type of real estate transaction is far too complicated to trust to an agent who lacks short sale experience. At DLP Realty, ⅓ of all of our real estate transactions are short sales. Together with our short sale negotiation affiliate, Illumination Real Estate Solutions, we have a 94% success rate!

 

Preparing Your Home to Sell

Most people think of the big things when considering what makes a property ripe and ready for sale, generating the interest of lots of buyers and creating lots of incoming offers on the sale. But what many do not realize is that by just changing one aspect of your home’s interior, they can and will significantly enhance the value of that home. By installing quality, buyer-friendly flooring, the value of a home will jump up, as will the interest from buyers looking for the perfect place.

FLOORING: Determining the right type, durability, look, and cost

Once you have answered some of these questions, it will be easier to decide on a type of flooring. Typically basements, children’s rooms and play areas plus hallways require heavy duty and more durable carpets or hard floors. There are many options that will provide both durability and aesthetic enjoyment, such as Berber carpeting or commercial grade laminate flooring. Master bathrooms, kitchens, mudrooms and other high-traffic areas are well-suited for the use of ceramic tiling, which while can get expensive, is an excellent choice because of its long-lasting quality and stylish appearance. Buyers are naturally drawn to homes with more ceramic tiling and high-end floors.

PAINT: Finding the right color and style

Style is relative. Where one person may want a kaleidoscope of colors all around them, others may find a pastel color palette appealing. The single best way to accommodate potential buyers in all situations is to install modern materials, but in neutral tones that will work with any design scheme. The key to style is not in the colors, rather the latest available types out there. If you choose a Sisal carpet, buyers will automatically be pulled in by the versatility and modern look of the flooring. High-gloss marble tiling for more upscale homes is also a good choice, but again keeping with a neutral color palate. Since walls, furniture and other design elements are adjustable it is important, especially in cases where you are looking to sell the home, to install light to medium neutrals. So, for instance when considering hard wood floors, opting for a walnut may be better than cherry since the latter will show dust, is slightly more limiting in terms of the rest of the design scheme and may not be liked by all potential buyers.

QUALITY

There are two types of quality: good quality and bad quality and nothing in between. By opting to invest a little more now, the returns will be far more fruitful later. Some cheaper flooring companies try to get away with lower prices using tactics like camouflaging low quality carpet with better padding or offering quality grades that have the durability to last only a year or so before needing to be replaced.

When choosing flooring, save by getting better quality materials and products that are on sale or at an outlet rather than lower-priced and consequently lower quality to begin with. A little extra now can translate into a significant difference later, in many aspects.

If you want your home looking great while at the same time giving you great returns at the time of sale, there is a huge opportunity to do so by enhancing the style, color and quality of your existing flooring. Whether you opt to install fresh, durable carpet in the basement or new porcelain tiling in a guest bathroom – no matter where you make the changes, they will be noticeable to buyers, which means success for you!

How to price your home to sell in this market

Basically, a home’s worth is determined by its market value. How is “market value” determined? Most often, it’s figured by a comparison (“comp”) with homes similar to yours in the surrounding area. So, if the homes in your neighborhood average, say, $250,000, then it’s likely that the value of your property will fall in the same range. But market value is also determined by a number of factors including the following:

  • External Factors:
    There can be several external factors influencing the value of your home. One is “curb appeal”, or the first impression your property makes upon prospective buyers. A home that’s in excellent condition on the outside will make a great first impression; a home in poor repair instantly loses its appeal to buyers. Other factors can include lot size, popularity of an architectural style of property, water/sewage systems, paved roads, sidewalks, etc.
  • Internal Factors:
    The condition of a home’s interior also has a huge influence on prospective buyers. When you’ve demonstrated “pride of ownership” and kept up the maintenance (quality paint, trim, molding, etc.), a buyer’s interest will immediately perk up for the simple reason that they know your care and concern will result in less cost and maintenance for them. Other internal factors include construction quality, condition of appliances, size and number of rooms, heating/cooling type, energy efficiency, etc.

Supply and Demand

“Supply and demand” simply refers to the number of homes for sale versus the number of buyers. When there are more homes than there are buyers, prices tend to be lower. When there are a lot of buyers chasing few homes, then prices tend to rise. In effect, supply and demand affects how quickly your home will sell. Location More than likely, you already know the old saying, “There are three main factors in real estate – location, location, location.” While that’s not the whole story, desirability is a big factor for home buyers. They may want to live in particular school district known for its education excellence…a great and safe neighborhood with rising property values…etc.

“But I know my home is more valuable than a lot of the other homes in my neighborhood”

Aren’t allowances made for this? Definitely! Sometimes, it can be difficult to find homes exactly comparable to your own. So, dollar adjustments are made for the differences between your home and comparable properties.

Where do I find sales comparison information?

The easiest source to access is your Realtor. After all, it’s his or her business to know such information! But, there are also other sources you can tap into in order to get a complete picture of your home’s value in comparison to others in your neighborhood. Here’s an overview of them:

  1. The Local Assessor’s office
    It’s very likely that your local assessor will be able to provide the sales history of a particular house, neighborhood, or style of architecture. Many assessors also provide lists of recent sales which you can browse and compare to the assessment roll. Today, many municipalities provide local sales and assessment information online making it very easy to access. Check with your local government agency to find out if they provide this service.
  2. Online companies
    You can search for these companies using the Google search engine and the keywords “comparable home sales” or “comparable sales.” Some companies offer free information; others charge a nominal fee. If you wish to get more specific, you can Google “real estate database” and type in the name of your particular state to get additional property information.
  3. Your local newspaper
    The key to getting the best value is finding and matching the right buyer to your home. And that’s the job of the Realtor! He or she should work hard to qualify those buyers upfront so the right people are viewing your property! In other words, the Realtor should weed out “lookers” and other unsuitable buyers as a first step in working with you. See how I do that for you by calling me.

The key to getting the price you want (or close to it) for your home

The key to getting the best value is finding and matching the right buyer to your home. And that’s the job of the Realtor! He or she should work hard to qualify those buyers upfront so the right people are viewing your property! In other words, the Realtor should weed out “lookers” and other unsuitable buyers as a first step in working with you. See how I do that for you by calling me

How much does it really cost to buy a home?

If you’re in the market to buy a home…What’s it really going to cost you? How much money will you actually need? Let’s walk through an example. We’ll assume a purchase price of $150,000.

For starters, there’s a transfer tax. That tax (in the state of Pennsylvania) runs at 1%, or in our example, $1,500. Next, we have title insurance. This can vary based on the price of the home, but typically we see it around .7% of the home price. This puts it a little under $1,100. If you’re putting less than 20% down, you’ll need to escrow your taxes and insurance. Again, this will change based on the exact location of your home. It will also depend on when, during the year, you close on your home. We’ll assume for our example, $3,000 in taxes, and insurance of $500. Next we have mortgage fees. This will vary from lender to lender. I work directly with Dominion Mortgage, who guarantees the lowest closing costs and the lowest rate, which is typically $1,000. Next we have an appraisal, which costs about $400.

Lastly is inspections. These aren’t necessarily a direct closing costs, but definitely an ordinary expenses when buying a home. They can range from $350-$700, depending which inspections you have done. So let’s take a look at all this:

Transfer Tax$1,500
Title Insurance$1,100
Taxes$3,000
Insurance$500
Mortgage Fee$1,000
Apprasial$400
TOTAL$7,500

Comparing these costs to the purchase price, we’re looking at about 5%. On top of that, you may need to put money down on the home. For an FHA finance, the most common type of financing, you’ll be required to put down 3.5%. Here, that comes out to $5,250. Add that to the $7,500, and we’re looking at a pretty big bill.

So what are your options? How does anyone afford a home? In some cases, we still have access to 100% financing programs for qualified buyers. If this is of interest to you, please call me, and we’ll see if we can get you 100% financed. If this isn’t an option, we can also ask for what’s called, seller assistance. This is where the seller agrees to roll the closing costs, into the purchase price. Essentially, this allows the buyer to finance these closing costs over the life of the loan, and only require the buyer to bring the 3.5%.

So what’s best for you? That’s a great question, and I’d love to help you work through it. Give DLP Realty a call and we’ll help you through the details or what will best suit your situation.