RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Is Home Flipping for You?

April 5, 2017 12:42 am

While you may think that home flipping went the way of the dinosaurs after the real estate bust, flips actually rose 3.1 percent from 2015 to 2016, with gross profits averaging $62,624, according to research from ATTOM Data Solutions.

Home flipping enjoyed a boost last year thanks to low inventory in many areas of the country and an infusion of foreign and domestic capital, says ATTOM, who reported that roughly 6 percent of condo and single-family home sales in 2016 were flips - the highest share in three years.

Hot markets in California - like San Jose, San Diego, and San Francisco - along with cities such as Baltimore, Md., Boston, Mass., New York, N.Y. and Seattle, Wash. earned more than $100,000 in profits. The most flipping took place Florida and Tennessee, where it comprised 11.7 percent of all sales in Memphis, Tenn.

Are you ready to get into the flipping game? Consider these pros and cons from The Balance:

Pro: Home flipping can be very lucrative, earning you a sizable sum of money within a very short period of time

Con: Conversely, when a flip becomes a “flop,” you can lose money. This can happen when unexpected expenses for home repairs or taxes arise, or when holding costs accrue from paying the mortgage and other expenses for a longer than anticipated period of time.

Pro: Home flipping is a great learning experience and will sharpen your skills on all things real estate, including construction, related finances and the local market.

Con: The process can be very stressful. There will be bumps along the way and there is always a risk involved, so make sure you’re ready for the roller coaster ride.

If you’d like more detailed real estate information about your market, please contact me.

Source: ATTOM Data Solutions

Published with permission from RISMedia.


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How to Tackle the 5 Peskiest Carpet Stains

April 5, 2017 12:42 am

Most homeowners know what it’s like to find ketchup or nail polish on your favorite carpet. The following quick tips from Rainbow International can help save your area rug or wall-to-wall carpet from the peskiest stain culprits.

Gum: The most crucial ingredient when removing gum from carpets is patience. Scrape away as much of the gum as possible, using a dull object like a spoon, and apply a dry-cleaning solvent such as Goof Off. After allowing time for the solvent to soften the gym, use a white cotton cloth to pull or wipe away the gum from the carpet and repeat this process until the gum is completely removed.

Ketchup: If there are large amounts of ketchup (whether fresh or dried-on), remove it by scraping lightly with a spoon, and use a white cotton towel to blot any residual ketchup. Next, mix a solution of one teaspoon dishwashing detergent and one cup of water, and apply the mixture to the stained area. Starting at the outer edge and working inward, work the solution into the stain and rinse by dabbing with water. If the stain remains, you can attempt to remove it with a three percent hydrogen peroxide solution, but be sure to first test it in an inconspicuous part of the carpet to ensure it's safe to use.

Nail Polish: Whatever you do, don't rub the stain, as rubbing will not only cause the stain to be driven further into the carpet, but it could also cause damage to the carpet's fibers. Wipe or blot the stain from the outside in using a non-acetone nail polish. If the stain remains, you'll need to call a cleaning professional.

Lipstick: Start by removing any excess lipstick by lightly scraping it with a dull object. Then, working from the outer edges of the stain and moving toward the center, apply a dry solvent to the stain, blotting with a white cotton towel. This may take multiple attempts but the dry solvent should do the trick. Once the stain is removed, rinse by dabbing the area with a dampened cloth and blot with a dry cloth to remove as much moisture as possible. To speed up the drying process, you can use an electric fan.

Crayon: First, as with most of the previously mentioned stains, scrape away residual crayon with a dull object, and then cover the remaining crayon mark with a white paper towel. Next, heat the area with a blow dryer, which should melt the crayon and help it absorb into the paper towel.

Source: www.rainbowintl.com 

Published with permission from RISMedia.


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