Prosperity Home Mortgage held a seminar last week and I got an opportunity to interview one of the local managers Bob Frazer about what the new qualified mortgage (QM) and qualified residential mortgage (QRM) will mean for our customers. Most thoughts are that the rules are not that bad and won't adversely affect consumers only affecting about 10% of loans; a big change is the cap on fees of 3% for the mortgage conmpany and any affiliated companies, so if you use mortgage, title and insurance  and those companies are all affiliated companies the most you can be charged is 3%, if they are un-affiliated companies each one can charge you up to 3%. Here is the interview, apologies for the sound quality, there is a little background noise from people attending the seminar. If you want help b... 01/13/2014

With the start of 2014 Long & Foster launchged a new mortgage company. Having been linked with Wells Fargo for many years Long & Foster now has its own subsidiary lender. We interviewed Mike Dunn area manager of the new company Prosperity Home Mortgage about the company. So, if you need help getting pre-approved for a mortgage, Jeremy Durkin or Eric may of Prosperity Home Mortgage bnoth based in our Devon office can get you set up at no cost. Also under the new mortgage rules and regualtions relating to qualified residential mortgages the cap of 3% fees includes any affiliated companies, so mortgage, title and insurance can not be more than the 3% limit. 01/13/2014

Being the coldest day for several generations in our area got me thinking about Frozen Pipes and talking with Nick Kiniry of Long & Foster Insurance. The conversation morphed a little into discussing investment properties as well and the needs of insurance in light of frozen pipes. let me know what you think.   If you need insurance help, feel free to contact Nick Kiniry at 856-208-4347 or Nick.Kiniry@LNF.com. Need help buying an investment property along the Main Line call Nick on his cell at 610-203-4543, office 610-225-7400 or Nick@VandekarTeam.com. 01/07/2014

This last week Trudy and I were down at Triple Play in Atlantic City, this is an annual real estate convention organized by the Real Estate Associations of PA, NY and NJ and is one of the largest regional events in the country.  I took the opportunity to sit down with Bob Albanese, Regional Director of Long & Foster Real Estate, Inc to ask him what he thought the market is going to do in 2014 along Philadelphia's Main Line and what issues he thinks are going to be relevant.    Let me know what you think the market holds, leave a comment. 12/12/2013

When I was young, I could get a little excited, and was often told I needed to be patient. Fishing was not a sport for me, sitting on a river bank watching a line, no way. Soccer, rugby and squash all fast moving sports was what I liked. Journeys, birthdays, holidays, all were reasons for patience I was told. But, I am finding that I am telling my clients who are trying to buy homes today that they need to be a little patient. Depending where and at what price you are looking to buy there may very well be a shortage of homes on the market. You also may have seen every one that is for sale. And when a home does come new to the market there are lots of other buyers also looking as soon as they can to see if this is "the one". Towards the beginning of this year in early February I got a ph... 12/05/2013

We often get asked why a buyer has to order title insurance. This interview by Nick Vandekar of Long & Foster Real Estate Devon, PA with Amy Sniras of Sage Premier Settlements covers this subject and the three endorsements you see on the HUD settlement sheet.   You have a choice about ordering an owners policy, but if you have a mortgage, you will be required to order title insurance to protect the lenders position. If you have any other questions about buying a home on or around the Main Line contact us, we will be happy to help. 12/04/2013

Buying a home, everyone tells you to get pre-approved. But what do you need to do that? Nick Vandekar of Long & Foster Real Estate in Devon, PA interviews Eric may of Prosperity Mortgage about what documents you are going to need to get a mortgage pre-approval or to make a full application.   Hope this helped, if you have any questions or need help buying a home along the Main Line let us know and we will be happy to help you. 12/03/2013

We get asked often by first time buyers about buying a distressed property along the Main Line as they think this will provide an affordable opportunity to buy a home in a prime location. As we often say much of real estate can be easy, buying a distressed property is not easy. So to answer some questions we made this video.   If you want help buying along or around the Main Line call Nick at 610-203-4543 or email Nick@VandekarTeam.com 11/01/2013

It seems the mortgage industry goes out of their way to make ypour life miserable when you apply for a mortgage. We had a short chat with Eric May of Prosperity Mortgage on how to avoid toil and trouble when you've applied for your mortgage.   10/31/2013

We often say Real Estate is mostly easy, but there are parts that are hard and for which a client needs help. These few stories from friends hopefully will help you avoid being a real estate horror story. 10/30/2013

Nick Vandekar of Long & Foster Real Estate, Selling the Main Line, offers luxury home owners along the Main Line outside of Philadelphia an extra way to market their homes utilising Christie's International Real Estate extending their marketing to high net worth individuals. 10/25/2013

Ever wonder who pays when your neighbor's tree falls on your property?   10/17/2013

Buying a home along the Main Line and throughout the country, or selling a home is often referred to as being one of the largest personal transactions most individuals will handle. I was a reading an article this week and it challenged this assumption on the grounds that when you buy a home there are actually TWO transactions and the home is often not the largest. Well, I got to thinking about this and before long decided the writer was wrong in their choice of words, in that when you buy a home there are many more than two purchases. I agree there are two very large purchases, and the home is not the largest, and I will get to what the largest is in a minute. For example if you use a real estate agent this is a purchase, you ultimately pay for their services, even if the HUD sheet show... 10/16/2013

Quick video interview with the two mortgage officers, Jeremy Durkin and Eric May, we have in our Long & Foster Real Estate office in Devon, PA on the Main Line outside Philadelphia about a guarantee offered by Prosperity Mortgage our in house lender, plus a short term mortgage rate reduction offer for those who are close to going under contract. 10/15/2013

Over the years Old Forge Crossing has been relatively lenient towards investors, allowing owners who got transferred through work to rent their units easily. With the donwturn in the husing market and the need for condo complexes to be FHA approved, the levels of investor ownership has become a issue not just at Old Forge Crossing but at several local townhome and condo developments. At the moment the ownership by investors in Old Forge Crossing is 38% and has never exceeded 40% however a recent change in the by laws will prevent the ratio of homeowners to investors going above 50%. So whilst their is no imminent danger of hitting the ratio limit it is something to be aware of as FHA loans and many of the banks who offer these loans demand a ratio of 50% or below for investor ownership ... 09/12/2013

From September 12 through September 15, the Devon Horse Show grounds will once again be hosting the Devon Fall Classic. The Devon Fall Classic Equestrian Events begin at 9 AM on September 12 and run through Sunday. The Fall Festival Shops and Midway will be open from noon to 9 PM Thursday, 10 AM - 9:30 PM Friday and Saturday, and 10 AM to 5PM on Sunday. There will also be live music on Thursday and Friday evenings, and during the day on the weekend. Pony Rides will also be available on Saturday and Sunday. Take the opportunity to enjoy the Horse Show, Shops, Midway, and events on what looks like a great late summer weekend. Enjoy! David HenkeLong & Foster Real Estate Inc – Devon, PA/Wilmington, DEOffice: 610-225-7400/Direct: 610-618-0808www.DelawarePAHomes.com   09/11/2013

We all hate arranging insurance, till you have to make a claim, here are some things to know when making that claim, be it home or auto. If you need any help arranging insurance for you Main Line home, Nick Kiniry at our office in Devon is a great place to start, especially for those Main Line Victorians with knob and tube wiring, you can often save by combining auto and home policies together. Nick Kiniry's contact details are below.       Brought to you by Nick Kiniry Filing an Insurance Claim 101: What You Need To Know!    Suffering from a loss of what you work so hard for can be devastating. The process doesn’t have to be! We have compiled a list of what you should know to help you navigate through this difficult time. Long & Foster Insurance is here to help you put your life back t... 08/25/2013

Why should a home seller consider having a home warranty? There are several reasons, and you can see some of them on the interview below with Nick Kiniry our insurance manager at Long & Foster in Devon. On the Main Line we have a lot of older homes with older systems so as a seller from when you list you can have your home covered so if one of these systems fails whilst the home is listed for a small deductible or trade fee as it is often referred to the system can be repaired or replaced. Homes for sale with a home warranty remove some fear of failing systems for s buyer and provide peace of mind for a seller after the close of the home that if a system should fail they will hear from the buyer seeking redress over a failed system. If you have any questions about home warranties or any... 07/11/2013

Our area outside Philadelphia, it is very hard to find any land to develop, and to find homes that are affordable is not easy especially as starter homes are going for the high $300,000's. Well we were recently home in England for a family wedding, and seeing this new development as I walked through the village where we were staying I had to investigate. There was a small enclave of 32 homes being built, interestingly to get permission the builder had to agree to an interesting combination of sales. About 60% of the homes he could sell outright, 20% were sold to a non-profit for resale under a rent to own scheme, and the final 20% was sold to the local municipality to rent out. They built 12 different floor plans, from two bedroom row homes to four bedroom singles. It was all pretty tig... 07/09/2013

Old Forge Crossing in Devon PA is a condo development located on 40 plus acres, with a swimming pool, walking trails, and a reflecting pond as well as three tennis courts for residents. When opened the Chester Valley Trail will run alongside the development and there most likely will be access to the trail. Ideally located just off route 202 it allows easy access to King of Prussia Mall, Valley Forge National Park, the Schuylkill River Trail, excellent restaurants dotted along the Main Line and Trader Joe's and Wegman's supermarkets are just minutes away. Originally built as apartments which were converted to condo residences, this development has one bedroom apartments on first and second floors, one bedrooms with dens on the second floors, two bedroom two full bath apartments on first... 06/10/2013