Ask Tim Tepes Tips & Tricks

A home inspection is a visual review of the major systems and structure: roof, exterior walls, foundation and basement, heating and cooling, electrical, plumbing, insulation, and the condition of visible interior finishes. The inspector does not grade the home as pass or fail; the report simply documents what they find so you can decide what to ask for before closing. Pennsylvania does not license home inspectors, so confirm the inspector follows the Standards of Practice of a national organization such as ASHI or InterNACHI.

See the buyer guide for how the inspection fits into the buying process.

Yes, for most buyers. A pre-approval is a lender's written commitment to lend you a specific amount based on your income, credit, and debts, and it tells you the real price range you can shop within. Sellers in today's Lehigh Valley market often want to see a pre-approval before accepting an offer, and it lets you move quickly when the right home appears.

See the financing guide for how pre-approval works and what lenders review.

Yes. Qualified buyers can use conventional loans with as little as 3% down, FHA loans require 3.5%, and VA and USDA loans allow eligible buyers to finance with no down payment. Pennsylvania's Housing Finance Agency (PHFA) also offers low-down-payment loans and down payment assistance for first-time and qualifying buyers. The right program depends on your credit, income, and the home price, so it is worth comparing two or three loan scenarios side by side.

See the financing guide for the low-down-payment programs available in Pennsylvania.

Start with first impressions: declutter every room, deep clean, and tidy the yard and entryway so buyers see a well-cared-for home. Then handle the small repairs that show up in photos, touch up paint in neutral colors where needed, and open the curtains to let in natural light. You do not need a full renovation; the goal is to help buyers picture the home as theirs.

See the seller guide for the full home preparation checklist.

List price comes from comparable sales: similar homes in your area that sold recently, active listings competing with yours, and how your home compares on size, condition, and features. Price shapes how many buyers see your home and how strong the offers are, so the first pricing conversation is one of the most important you will have.

See the seller guide for how comparable sales set your list price.

Under Pennsylvania's Real Estate Seller Disclosure Law, sellers of most one-to-four-unit homes must provide a completed Seller's Property Disclosure Statement before the buyer signs the agreement of sale. It covers the roof, basement and crawl spaces, pests and wood-destroying insects, structure, water and sewage, plumbing, heating and cooling, electrical, and more. Disclosure is knowledge-based: you report what you actually know, and 'unknown' is an acceptable answer, but false or incomplete answers can create liability. Homes built before 1978 also require a federal lead-based paint disclosure.

See the seller guide for what Pennsylvania requires sellers to disclose.

A 1031 exchange lets an investor defer federal capital gains tax on a sold investment property by reinvesting the proceeds into a like-kind replacement property. The sale proceeds must pass through a qualified intermediary, and two Internal Revenue Service deadlines are firm: you generally have 45 days after selling to identify potential replacement properties in writing, and 180 days from the sale to close on the one you choose. This is educational information only, not tax or legal advice, so line up a qualified intermediary and a tax advisor before you sell.

See the 1031 exchange guide for how to plan an exchange from start to finish.

Cap rate divides a property's net operating income by its purchase price, so it measures the return the property itself generates before any financing, which makes it useful for comparing properties as if they were all-cash deals. Cash-on-cash return divides the annual before-tax cash flow you actually receive by the cash you put into the deal, so it accounts for your mortgage and your own money at risk. Neither number is inherently good or bad, and there is no single rate that is right for every investor. They simply answer different questions.

See the investment guide for how investors compare these two returns.

Run the numbers from the real local market: what similar homes actually rent for, property taxes, insurance, maintenance costs, vacancy risk, and, if you finance, the mortgage payment. Then check the property's condition and the local zoning and landlord rules for the town where you are buying. A property that covers its carrying costs with a cushion is far easier to hold than one that depends on future appreciation to make sense.

See the investment guide for a due-diligence checklist before you buy.

Ask what is included in the base price and what counts as an upgrade, what the warranty covers and how long each part of it lasts, and what the realistic timeline is from contract to closing. The model home you tour is almost always finished beyond the standard package, so compare everything against the written specs for your home, not the model. Also ask who performs the municipal inspections and whether you can bring in your own inspector.

See the new construction guide for every question to ask before you sign.

Yes. Even with municipal inspections and a builder warranty, a third-party inspection of a new home is inexpensive protection. It can catch cracked trim, missing insulation, improper venting, grading that drains toward the foundation, and other issues before your warranty clock starts running. A pre-drywall visit is especially valuable because it lets someone see the framing, plumbing, and wiring behind the walls.

See the new construction guide for why a third-party inspection is worth the cost.

In spring, clean gutters and downspouts, check the roof and siding for winter damage, and have the air conditioning serviced. In fall, service the heating system, clean gutters again before snow, and disconnect outdoor hoses. In winter, keep the heat at a consistent temperature to avoid frozen pipes and watch for ice dams at the roofline. Pennsylvania's freeze-and-thaw cycles are hard on a house, so a simple seasonal checklist keeps the expensive surprises away.

See the fall home maintenance checklist for a season-by-season home care routine.

Focus on the systems that are the most expensive to replace: keeping gutters and downspouts clear so water drains away from the foundation, changing HVAC filters on schedule, servicing heating and cooling equipment, testing smoke and carbon monoxide detectors, and watching for slow leaks around sinks, toilets, and appliances. Small water problems become large repairs quickly in Pennsylvania's freeze-and-thaw cycles.

See the fall home maintenance checklist for the repairs and checks homeowners should not skip.

The Greater Lehigh Valley REALTORS (GLVR) publishes monthly statistics on median price, pending and settled sales, new listings, and days on market for the Valley, and Tim shares those reports in plain language in his market updates. National headlines about mortgage rates tell a national story, not the story of your street, so pair them with local numbers before making a decision.

See the Lehigh Valley market update for the latest local numbers in plain language.

Median price is the middle sale price of all homes sold, so it is not the same as an average and can shift as the mix of homes sold changes. Days on market shows how long listings take to go under contract, which is a useful read on competition and buyer urgency. Look at both numbers together, and compare them to the same month a year ago, to see the direction a market is moving.

See the Lehigh Valley market update for how these measures are trending now.

Compare how many homes are for sale against how many are selling: when active inventory is low and homes go under contract quickly, sellers generally have more leverage, and the reverse is true when supply is high. Your agent can show you the months of inventory, price trends, and days on market for your specific town or ZIP. Tim shares these figures in his monthly Lehigh Valley market updates.

See the Lehigh Valley market update for months of inventory and supply by town.