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)
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.  
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
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.
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
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.
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
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...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
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.
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
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 ...
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
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  
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
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...
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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 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...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
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...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
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...
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By David Brandschain
(Long & Foster)
Home Prices in Devon PA for May 2013 Real estate market data for Devon, PA is provided by David Brandschain of Keller Williams Main Line Realty Devon Home Prices We have seen listing prices remain stable over the last few months, as, we examine home prices in Devon PA.  We expect prices to rise in 2013, as, the overall economy continues to improve and average sales prices increase year over year.  If you are considering buying a home, now would be a good time, as the number of available homes is shrinking.  This decrease in supply will continue to put upward pressure on prices.  So if you have been searching for the bottom in Devon, it was likely reached last November.  To make sure that you properly navigate this changing market, you'll want an agent that does a thorough market analysi...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
An estate is selling a home, price is agreed at $80,000, the township has a point of sale ordinance and after inspection insists the estate which has no cash available make $9000 in repairs, to sidewalks, etc, township refuses to issue a temporary use and occupancy certificate to buyer and insists all work is completed before they will issue a use and occupancy certificate. Buyer walks and estate is now stuck with a home they cannot sell. This is actually illegal in Pennsylvania, but many Main Line and surrounding area township ordinances are in breach of state law, state law says that a temporary certificate must be issued giving the buyer 18 months to make required repairs after settlement when a permanent use and occupancy permit can be issued.   This doesn't make sense.In a recent s...
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By David Brandschain
(Long & Foster)
Home Prices in Devon PA for April 2013   Real estate market data for Devon, PA is provided by David Brandschain of Keller Williams Main Line Realty   Devon Home Prices   We have seen listing prices remain stable over the last few months, as, we examine home prices in Devon PA.  We expect prices to rise in 2013, as, the overall economy continues to improve and average sales prices increase year over year.  If you are considering buying a home, now would be a good time, as the number of available homes is shrinking.  This decrease in supply will continue to put upward pressure on prices.  So if you have been searching for the bottom in Devon, it was likely reached last November.  To make sure that you properly navigate this changing market, you'll want an agent that does a thorough market...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
With the record low inventories compared to the last few years, whilst now is a frustrating time to be a home buyer, it is a wonderful time to be a seller. Homes are selling quickly at all price points, buyers are motivated to act as they are aware of the lack of inventory and finding the right home, so when they do see something that meets their needs they are not hesitating and they are taking action, making offers acceptable to sellers and getting the homes under contract quickly. So, now is a wonderful time to be a seller. Whilst it does not allow you to ask anything for your home, if it is prepared correctly, priced right you will see lots of showings, and a quick offer that meets your asking price or maybe even over it. With the multitude of homes at all price points going under c...
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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 a home sold and to settlement for the highest price the market will bear is not always about asking the highest price you can. There is always this picture of sellers fighting with their listing and potential listing agents over price. The seller wants $xxx,xxx and the agent is shown as wanting to price the home at less than this price. The price a home sells for has nothing to do with what a homeowner paid for the house, what he spent upgrading it or what the neighbors house sold for, or how much the seller needs to buy his next home. It has everything to do with what buyers in the market are willing to pay for this specific home. That is driven by the value they perceive the home offers and how many of their desires and needs it meets. When you purchase a car and comparison...
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By David Brandschain
(Long & Foster)
Home Prices in Devon PA for March 2013Real estate market data for Devon, PA is provided by David Brandschain of Keller Williams Main Line RealtyDevon Home PricesWe have seen listing prices begin to increase substantially over the last few months, as, we examine home prices in Devon PA.  We expect prices to continue to increase in 2013, as, the overall economy continues to improve and average sales prices increase year over year.  If you are considering buying a home, now would be a good time, as the number of available homes is shrinking.  This decrease in supply will continue to put upward pressure on prices.  So if you have been searching for the bottom in Devon, it was likely reached in July.  To make sure that you properly navigate this changing market, you'll want an agent that doe...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Being a Realtor is being part of a team. We work with many people to help make a transaction reach settlement, our clients firstly but also these include contractors, inspectors, mortgage providers, title providers, insurance agents, the agent on the other side of the transaction plus all the people in the background from secretaries to township inspectors for Use and Occupancy certificates. It is building relationships with all these people that enables a transaction to close smoothly and on time. We just had our office awards ceremony and I was not expecting to receive any awards this past year as we have a very highly producing office and although I was very happy with my production last year knew there were many others who had stellar years production. Well I was very surprised when...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
  Buying your Main Line home begins with deciding first your budget and then in which township you want to live. The Pihladelphia Main Line begins in Lower Merion Township, heads west and north through Radnor, Tredyffrin and Easttown Townships. Not so long ago, many would say it ended in Wayne, then it became Paoli, nowadays many people consider Downingtown the end of the Main Line. Towns along the Main Line include Merion Station, Bala Cynwyd, Gladwynne, Haverford, Bryn Mawr, Rosemont, Villanova, Wayne, Devon, Berwyn, Paoli Malvern, Frazer, Exton and Downingtown. There are many choices. Within each township people are loyal to their neighborhoods, often not venturing elsewhere to shop, many homeowners along the Main Line buck the national averages remaining in their homes for decades ...
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