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)
Condos today have a hard time selling as most buyers want to use FHA financing and many approved condo developments have seen their approval expire. Old Forge Crossing in Devon, PA is in the process of waiting for approval, having made application and fulfilled many of the steps required. It is a process not without cost, but as so many of these developments now charge a fee to buyers that goes to the condo association this cost can be recouped when sales of these condos becomes easier as FHA mortgages can be processed. Currently, there are 7 single bedroom units available throughout the development priced from $140,000 to $165,000.Two of these seven are single bedroom units with dens, usually a room above the stairwell measuring about seven foot by nine foot, the two priced at $140,000...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Several agents are holding a business persons open house at Old Forge Crossing on August 23rd Tuesday 11-2 pm, open to members of the public and to brokers many are serving lunch or snacks for those attending. Below is a list and map of the development with the locations marked showing where homes will be open. With FHA approval pending these condos are exceptionally affordable with plenty of storage and large spacious rooms, they never have trouble appraising and the development has plenty of facilities buyers love. So stop by tomorrow and check it out.  Brokers & Buyers Please Join Us Condo Open House & Luncheon Old Forge Crossing Located in Devon Tuesday August 23, 11-2 Enjoy Lunch, Deserts and a Chance to Win Free Gas Cards for Previewing the Best Value In Condominiums in the area. ...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Chester County homes for sale now stands at a 12.3 month inventory. what this means is that if no other homes came on the market it will take 12.3 months to clear the backlog of homes for sale. That is 2 months more than July 2010. There are actually 4035 homes for sale according to the market data from Trend MLS, that is 85 more than this time last year. Making your home stand out in the crowd is difficult but not impossible. As you can imagine the days on market have increased as well as the absorption rate mentioned above. 399 homes sold in July, 72 more than July 2010, median price dropped by just under 8% compared to 2010 and the price realized at sale as a ratio of the asking price was a little lower in 2011 92.3% compared to 92.7% last year. Year to date, 235 less homes have sol...
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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 just listed a very nice 2nd floor unit in Old Forge Crossing in one of the most sought after locations within Old Forge Crossing, a condo development located in Devon, PA in the tredyffrin Easttown School district. Right by the community pool, it is nicely painted with fresh colors and has a very modern feel. Packed with storage, this is one of the one bedroom condos with a den. One of the nice features about Old Forge Crossing is that you have your own laundry area within the condo, no more sharing or looking for coins, plus the condo fee, paid by the landlord covers the gas for hot water, the gas dryer and the stove, along with water and trash as well as your pool fee and it covers snow clearance and common areas maintenance and external maintenance. A sweet deal as Old Forge Cross...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
The Main Line is famous for its railway line, what gave the region its name, man y of the old stations have been restored or are in need of restoration. Devon used to be an important stop, now only the Septa trains stop here, but in the past the was a big hotel, The Devon Hotel and Polo Grounds located just across the road where Waterloo Gardens and The Horse Show Grounds stand today roughly. Many Philadelphians came to take the country air and get away from the heat of the city. Whilst it is probably cooler than the city today with the heat wave it does not feel as if it would have done them any good. The station is crying out for restoration in my opinion, there is plenty of parking and it is a well used station, maybe a cofee shop/cafe in the station building, hopefully not another D...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Part of our job as real estate agents is to negotiate, so why do so many agents avoid it? We negotiate at first for ourselves when we first meet with a consumer, when we decide if this is someone I want to work with as a customer. We explain the legal obligations our state requires about the different agency representations and what they mean to the consumer and why they might want to work with us, how we will represent them and what we will charge. We negotiate explaining our value either as a listing agent or as a buyers agent, laying out what we bring to the table and why the consumer will want to work with us and why they will want to pay our fee. Locally we have several buyer agents who post their fees online, a good first step to true buyer agency, the complete journey takes them ...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
There are currently 12 homes listed for sale in Old Forge Crossing.  8 singles, priced from $134,900 to $165,500, two of these also have a den so are second floor locations and there are 2, 2 bed 2 bath condos ranging in price from $165,000-$199,900.  Plus there are 3 townhomes for sale, these are two floor homes, priced from $219,900 - $224,900. There are also two homes under agreement of sales a one bed with den and a two bedroom townhome. We currently have two homes listed for sale an end unit single in a very nice private location 5 Old Forge Crossing at $145,000 and a two bed two bath home 39 Old Forge Crossing at $199,900 a very nicely updated second floor end unit that is in pristine condition. The last two homes to settle were a one bedroom at $135,000 and a two bedroom at $192,...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Ahem! Excuse me, it is 95 degrees outside and the heat index is over 100 degrees...did you know the photos of your home in the multiple list service show your home surrounded by snow? Photos are important selling a home today, more and more buyers look at photos before or even if they read the description of the house. Many multiple list services and websites are allowing more and higher quality photos as well, so quality and content of photos is important. You can tell a story with photos, show a little of the neighborhood, the character of the home, the lifestyle the new owner can have, but you need some variety. Listings that have their photos all taken from the top right hand corner of a room looking down is not a natural way to see a room. Neither is taking them all at the height o...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Many buyers today want deals, deals and more deals. Which if you believe everything you read is understandable, however, many homes even today receive multiple offers. So how do you decide what is the market price? A buyer has no interest in what you paid for the home Mr. Seller, how much you owe, or what you think your home is worth. All of this is irrelevant. What does matter is what else is on the market that he can actually see and compare with this home he is interested in? What homes have sold recently, in the last three months but not much more than that, the more recent the better? If they have seen those so much the better, but sometimes if the listing agent did a good job, the photos and virtual tour will give a good impression of what the home is like. Buyers today all look a...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Different brokers use different listing contracts adapted for their use or a board approved form, but most are similar. My point here is that any listing contract that is used in a state where Buyer Agency or Transaction Licensees are the norm should be re-printed. Why? Because we no longer practice sub-agency, or most brokers I know do not want to be responsible for other brokers' agents, so we should remove the sub agency offer of compensation. Secondly, we should remove the offer of any type of compensation to anyone other than the listing broker. Why? Sorry to answer a question with a question. Because why should I be paying an agent that works for someone else? Why should the seller compensate the buyer's agent or transaction licensee. There are multiple ways for the buyers agent 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)
There are currently 10 homes for sale in Old Forge Crossing. Two 2 bedroom 2 bath homes, one a townhome, there are 8 one bedroom units for sale of which three have dens, meaning they are second floor units. Prices for the one bedroom units range from $134,900 to $165,500, for the two bedroom homes prices range from $165,000 to $224,900. Location is important in Old Forge Crossing, whether a home is first or second floor is arbitrary to a buyers taste, some people prefer ground floor, some prefer being upstairs for various reasons. Location within the development is important to many buyers, several of these homes overlook inner courtyards, but then require a short walk to the parking lot with shopping or whatever else you may be carrying. Other homes are directly on the parking lots, bu...
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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 become a believer in ignoring all news, contrary to my wife. I listen to headlines occaisionally but seem to somehow always know what is going on because my wife tells me about anything really important. I am also very aware of what is going on around me and in my local area. So I have come to the conclusion that one can also ignore all real estate news because most of the time it is contradictory. Last month Case Schiller was announcing the arrival of the double dip in real estate. Now just one month later they are announcing how prices in so many different areas have risen. Conclusion this month real estate is back. Conclusion last month the end of the world had arrived. So just ignore all of it. This is what you really need to know. Look at the market stats for your local area...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Are you stuck? Stuck in the same old way of doing things, marketing a home, getting listings. Many real estate agents today are complaining that things are tough, but they are not changing their business model or even their methods of marketing. Today you need to be realistic and know that our consumers are changing the way they search for and look at homes. As agents we need to adapt and change as well, this may mean changing everything you know about real estate. It may mean kicking off the traces and doing something different. For some it may mean getting a different job, but for those who embrace change I think the market ahead holds many opportunities Sellers and buyers want to work with people who understand and get the changes happening right now. Facebook, Twitter, LinkedIn, You...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Many buyers today believe that they can save themselves money by negotiating with the seller through the listing agent rather than have a buyers agent. I wrote yesterday that I felt buyer agency is a sham not because I don't believe in buyer agency because I do, but because the agent is paid by the seller, and until the buyer pays for their own agent the idea of agency is a sham. Likewise I think buyers don't understand that the listing contract is drawn up before any buyer is ever in the picture. That listing contract states what percentage the home is being listed for by the broker, not the agent but the broker. In filling out the contract discussion is held with the seller about how much they wish to offer as compensation for the buyers agent or transaction agent. However, the way th...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
In the last week I have listened to an interview with David Heinemeier Hansson and been reading Poke the Box by Seth Godin. The combination of the two is that if you want to succeed today you have to be willing to start. All the plans, the dreams, the lists of goals are worthless if you don't start. So how is your year going so far? If it is not shaping up how you wanted it to, start something, do something different; go door to door in a new neighborhood or even your own and introduce yourself. Ask people what you can do to help them, and do it with no sense of what might be in it for you. Maybe they might remember you or mention you to a friend and you might get business from it down the road. Who knows, but if you don't start you won't get anything. Have you been meaning to join a ne...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Just listening to the news this morning I am not surprised the real estate consumer is sitting on the fence. First for about ten minutes the messages were all mixed, foreclosures are down, but this may be because....blah blah, home starts are up, but don't get excited because there are still lots of resale homes to sell. My head was spinning and the glee with which CNN reported it, then finish it up with a tour of a town in New Jersey where the majority of the homes are in foreclosure. Get me out of here. But wait a minute, my area is not so bad, homes are selling, there are not so many foreclosures, prices are fairly stable, the clients we are working with are well qualified, sellers are being realistic. So I am not going to pay attention, I am just going to deal with MY WORLD and igno...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
How desperate are you? Would you put your license at risk to get a deal to closing? Who are you representing, the client or yourself in these deals? Unfortunately to many people lose sight of who they work for, the client and see only their own pocket as being the reason for wanting to be a realtor. I serve on our local realtor board Professional Standards as co-chair of the Grievance Committee. As such I get to hear complaints from other agents and members of the public about our colleagues, of course at this stage names are changed to maintain confidentiality. But the point I want to make here is that I am shocked when agents start telling me in the process of negotiating what they have done in earlier deals to make them "work". I usually interupt to let them know they are talking to ...
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By Laurie Matthias, Realtor, Residential Real Estate Professional
(Long and Foster Real Estate)
Main Line Neighborhoods - Local Restaurant on a Pet-Rescue Mission DEVON, Pa. (CBS) — Positively Philadelphia: A Local Restaurant On A Pet-Rescue Mission (Sound of kittens meowing…) People who love cats know that these kittens are saying, “Come get me, and also have a great lunch!” The Black Cat Café, a new restaurant in Devon, Pa., is owned by PALS (Pet Adoption and Lifecare Society), a local pet rescue group.  The café is run almost entirely by volunteers. “Every dime of our profits goes to the animal rescue to save animals,” says Patricia Maloney, executive vice president of PALS. Story continues below… Adoptable pets are brought to a play area adjacent to the restaurant on Saturdays, and photos of cats and dogs adorn each table. She says people should come see the animals and enjoy ...
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By Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line
(Long & Foster Real Estate Inc 610-225-7400)
Every week there are blogs and news articles about housing and house prices. Prices are rising, prices are dropping, mortgage rates are their lowest ever, mortgages are harder to get etc.Am I an expert? I don't know but am I worse than anyone else? Many people are getting paid lots of money to make predictions and the press is very willing to listen and make them out to be experts. But are they right? Seth Godin in several blogs recently has talked about making predictions and seeing how accurate you are over a period of time.Professor Philip Tetlock  from the University of California , Berkeley, tested 284 "experts" in political science, economics, history and journalism in a staggering 82,000 predictions. Tetlock concluded that their predictions were no more accurate than uninformed g...
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
  Devon homes sales and real estate values continue to hold up well. Zip code 19333, Devon PA, is centrally located along the Main Line in Chester County just to the west of Wayne PA. The zip code is primarily located in the northeast section of Easttown Township but also extends to parts of Tredyffrin Township. The southern portion includes theWaterloo Mills Preserve in Easttown Township and the zip extends just beyond the Jenkins Arboretum to the north. Devon has a long and rich history including the renowned Devon Horse Show currently under way.  This position provides quick access to both Route 202 just minutes to the north and I-476, the Blue Route, to the east. The zip encompasses a wide variety of housing choices from the condos of Old Forge Crossing to the classic estates of Dev...
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