Devon, PA Real Estate News

By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Does the USA even need an MLS? And why the heck is the seller paying my agent? Have you ever been asked by a buyer why the seller is paying you and where your loyalties may lie as a result? It does seem odd that the seller should be paying for the buyers agent. Do you owe the seller any loyalty because they are paying you? Whilst it does allow a buyers' agent to present his services as FREE, is that truly correct. We have all heard the argument that in fact it is the buyer who pays everyone, because without a purchase no one gets paid. As a buyer's agent I bring value to the buyer, I provide a fiduciary care to the buyer and can answer his questions truthfully, so why would my buyer want me to be paid by the seller, would he rather be paying for his own service? Whilst I am not conflict...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
9 Tips for Mold Prevention People often think mold only grows in the summer, but if the conditions are right, mold can grow anytime of year. Here are 9 tips for preventing Mold.   1) Never store paper products or cardboard in attics or basements. Store these items in plastic bins with lids.2) Maintain attic and basement relative humidity at 55% or less.3) Make sure your attic has vents and a fan, preferably one activated by humidity levels.4) Never use a dehumidifier which requires emptying. Always buy a unit with a pump.5) Immediately repair plumbing leaks and dry out and wet building materials.6) Prevent buildup of clutter inside closets or rooms. It prevents air flow and blocks your view of any potential problems.7) Perform annual inspections of attic, crawlspaces and basements for m...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
When is the right time to prepare your home for selling in the Spring market? Selling real estate can be all about timing. As many people know, the Spring Market is generally the best time to list a home for sale as the most buyers are looking. The last two years on Philadelphia's Main Line the market has started the year with a bang then slowed and some would say fizzled later in the year. So, yes, the Spring Market is what you are aiming for. When then is the best time to prepare your home for sale, because as they say "The early bird gets the worm". My answer is to start preparing now for the spring market. If you wait you may find several buyers are already taken when you eventually get your home on the market. Arrange to get a home inspection completed and hire a contractor to fix ...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
3 Things to know about your Main Line septic system before listing your home for sale   There are several areas along and around the Main Line where septic systems are common. If you own one of these homes before you sell you may want to watch this video to understand what you need to know to prepare your home for sale. An interview with TJ Dell'Arciprete of Delaware Valley Septics LLC, by Nick Vandekar, Selling the Main Line with Long & Foster Real Estate.   Here are the three things and the three reasons why your system may need an Hydraulic Load Test. 1) Pump System Annually 2) Prelisting inspection, only $350.00 3) Three reasons why your system may need an Hydraulic Load TestA) The house has been vacant for 7 days or moreB) The number of inhabitants is doubling C) The inspection rev...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
  Top Mistakes to Avoid When Buying or Selling a Main Line Home   Attending an Open House or New Construction without me. Builders prefer you to be unrepresented. It is cheaper for them. And at the same time, they have experience selling homes; whilst you don't buy as many homes as they sell. So they are in a stronger position if you are unrepresented in the transaction. As for Open Houses, you sign a buyers agency contract and that contracts you to pay your agent and their broker, whilst in Pennsylavania this is usally paid by the seller, if the selling broker refuses to pay because you toured an open house alone, you may be liable to pay our broker. Buying a House you cannot afford. One of the reasons we ask clients to get a mortgage pre-approval is so they know exactly what they can ...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
What your Main Line real estate agent cannot tell you.   There are lots of things your Main Line real estate agent cannot tell you. They may surprise you, but there are good reasons why and they can explain this to you. For example, you want to know about school districts? Sorry, we cannot comment on school districts. First it is highly subjective, what you may consider good, I may not, your child's needs are not average, they are specific, so how can I comment on a school district if it is good or not. I can point you to websites that will help you analyze the local schools and give you contact numbers so you can arrange a tour, but no I cannot comment on schools. You want to know about crime. Sorry, I am not allowed to comment on that as well. I may be accused of steering you from one...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Investors, financing just got easier!   One of the issues for investors on the Main Line is getting financing for their purchases. Different lenders have different overlays for how many mortgages you can carry, how much money you need to put down credit scores and what you can use for income. Prosperity Home Mortgage just announced some great news for investors.   ·        Conforming Fixed rate investment loans with as little as 15% down! Borrowers may be able to qualify using rental income without previous rental experience.   ·        Conventional Renovation investment loans with 20% down allows financing cost of substantial repairs. ·        Non Warrantable condo investment loans with 30% down.  Don’t let an investment opportunity fall apart because the property is Non-Warrantable. S...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Selling a house is easy... I was reading an article over the weekend how tech companies are trying to set up systems to remove the real estate agent from the transaction and lower costs for the seller. Of course the savings when you delve deeper are more limited. First you need to hire a photographer, many agents pay for this out of their own pockets, then you need a real estate attorney to handle the paperwork, your agent would naturally handle and provide all the required paperwork for you, and finally if the buyer comes with a buyers agent you need to provide compensation. (Even in this tech model the buyers agent is paid by the seller not by the buyer.) Then, you need to be available to answer phone calls, to attend showings, to negotiate, and to continue to answer phone calls and q...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Now is the time to make offers on Main Line Bank Owned Properties Yes, you read that correctly, if you are looking for a deal along the Main Line on a Bank Owned Property, whether you are an investor, or looking to live in a bank owned property NOW is the time to make an offer. I have found from experience with clients making offers on bank owned properties through the year there are certain times when you can get a better deal. End of month, end of quarter and NOW, end of year! The people at the banks dealing with these properties want to clear their books, so at the end of a month, end of a quarter they are willing to take less than the guidelines to clear the decks for the new homes they are going to be dealing with. So, here we are middle of October and those same personnel at the b...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Frequently asked questions when buying a Main Line Home If you are buying a Main Line home outside of Philadelphia you may find things work a little differently to buying a home elsewhere, be that another country, another state or another city in Pennsylvania. We have developed a list of Frequently Asked Questions and answers, accessible on our website Selling the Main Line. Let us know if you have any questions not covered here. We will be happy to help you find your Main Line home be it a first time purchase, or a luxury mansion, contact us for more details.
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
What are basis points? Buyers today, especially first time buyers have lots of questions. It is interesting to see what questions they come up with. Why do we all use so much jargon? A client today emailed and asked me the above question after having emailed our mortgage provider and asked several other questions, basically about locking a loan. The mortgage provider's reply included the term "basis points". Why not just say so much per cent? Why use a new term the buyer may not understand. This is why the consumer is confused, we change and intermix terms, and depending where you are different terms can refer to the same thing. For example, down money, earnest deposit, hand money, flesh in the game, first deposit are examples given recently by an attorney for the same amount of money g...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
This weekend is a busy one for events and happenings on the Main Line. Lots of fun and great events to attend this weekend. Firstly, THE PAOLI BLUES FEST  Saturday October 4th Noon - 6 pm, bands, vendors, LIVE music and food and drink. Look for us me I will be there with some friends from our office. Stop by and sign up for the opportunity to start a new sport, Squash courtesy of Berwyn Squash and Fitness Club, get a racket, goggles, ball, your first lesson and month long family membership free. We will also have other give aways so stop by and say Hi! Event is in Paoli at the Village Shops.     Also starting at 10.00 am, the St David's Church Country Fair, in St David's, there is an auction, all sorts of booths with food, games, and a tag sale as well for clothes, antiques, etc. Fun ev...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Selling The Main Line! Selling The Main Line is not just a catch phrase it is what Nick and Trudy Vandekar actually do. The Main Line in Philadelphia is an area to the north and west of Philadelphia, it goes through three different counties once it leaves the city of Brotherly Love; Montgomery, Delaware and Chester Counties. It lies around the train line that travels west of the city and used to end at Paoli, but now goes out to Downingtown and Amtrak takes it across the country. In fact if you travel to Chicago you end up in similarly named neighborhoods. Selling The Main Line! We work along the Main Line, helping buyers discover the joys of the different neighborhoods, from Ardmore and Bryn Mawr with very walkable town centers along Route 30, Lancaster Avenue, out to Downingtown which...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Don't say another word! I attended a very good seminar on dual agency this morning, Practical Advice for Realtors given by William J. Weber Jr. Esq., and Gregory S Liero, both of Connor, Weber and Oberlies in Paoli, PA.  In Pennsylvania in 1998 our legislature passed real estate agency laws that affect how Philadelphia Masin Line Realtors interact with the public. Before 1998 a Main Line home buyer might believe they were being represented when in fact all agents involved were representing the seller. This 1998 legislation introduced buyer agency, and at the same time allowed dual and designated agency as well as transaction licensees who represent neither party. Buyer agents owe their loyalty to their buyer and their buyer alone. The selling agent owes their loyalty to the seller alone...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Why are appraisers not more consistent?   I find appraisals today one of the most frustrating parts of the real estate transaction. Appraisers are not consistent, they ignore the very detailed instructions laid out for the appraisal and then when challenged refuse to make any changes. I had an appraisal at the end of last year where the instructions specifically said no sales over six months were to be used. The appraiser went back almost a year, used a distressed sale and then adjusted all sales to that distressed property. He ignored sales that settled within weeks of the transaction which supported the price. I had another appraiser who also last year refused to accept comparable sales because they were not similar houses, although they were just doors away from the subject property....
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Where does your food come from? Here in Chester County we are very lucky, although we live just outside a major metropolis, Philadelphia we have access to some of the best produce from local farms, and our local county is encouraging this as well. Just look at this map for some of the choices, of CSA's, Farmers' markets or even just produce stands. Also Chester County has a great resource in the A Guide to Local Farm Products in Chester County 2014, packed with information and resources. Having access to great local produce is one of the things that makes living on Philadelphia's Main Line so great and definitely adds to the lifestyle of residents. Many local restaurants source their food from these same farms as well. So get out, do a little driving and enjoy the options these farms, w...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Getting an offer is not the end of the job. We recently listed a home for sale on the Main Line in a development where we do quite a lot of business. As we were discussing pricing with our potential seller they mentioned their concern with the home appraising. Prices have been rising this year and it seems each new listing is priced just a little higher than the one before, and with low inventory these homes are often selling with multiple offers. So, we discussed how getting an offer was not the end of our job. We help with the negotiations that follow a home inspection, and we meet the appraiser and show him our comps and explain our pricing and also let him know if we had multiple offers. Well, the home sold with two offers in a matter of days. And yes, we met the appraiser, showed h...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
I have written many times about Old Forge Crossing in Devon PA. Old Forge Crossing is a 40+ acre condo community, of one and two bed apartments and 2 bed town homes located in Tredyffrin Township, and is part of Tredyffrin Easttown School District. We have sold many homes for clients in here, helped clients purchase in here and have several investors who we have helped rent in here. This year we have sold several homes in a matter of days. I understand why, the community is delightful and I hope this short video does enough to interest you on owning a condo in Old Forge Crossing, Devon, PA 19333. If you like what you see, contact Nick or Trudy and we can help you find the perfect home in Old Forge Crossing, Devon, PA 19333. It has a great location giving access to every where you might ...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
What are you being paid for? I have been thinking about this post for several days. Sparked by a similar post last week and something I read today and others comments it reminded me of two stories. Picasso was walking in a park, recognized by a woman who had known him when he was younger she approached and asked if he would sketch something for her. He quickly completed the drawing and asked the woman for a large sum in payment. She asked him how he could ask her for such a large sum, when it had only taken him minutes to complete the drawing? His reply, "Madam, it is not the time it took to complete the picture you are paying for, but my experience and skill which allows me to complete the drawing as quickly as I did."  The second story was in a newspaper in England when we lived there...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Time is of the essence! In Pennsylvania time is of the essence in real estate. As a buyer from another state, or a mortgage provider we sometimes need to explain this as it is not the case in every state in the union. For example, I had buyers from New York, who had no idea when they were actually going to settle on their home they were selling in New York State. That sounds so weird to me, but they just took it in stride as they were used to it. But, we had to extend their settlement in Pennsylvania due to delays in New York In Pennsylvania, and especially on the Main Line, time is important. Everything in the agreement of sale is timed off the date that the last signature or initial is added. That is when it becomes a contract. The timing for deposits, inspections, mortgage applicatio...
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