It is always exciting to reach closing day, especially when everything has gone smoothly throughout a transaction. I met Hannah and Tom not that long ago when we met to discuss working together and they mentioned they wanted to buy a house before next May. After going over all the details of how the real estate process works in PA, getting approved for a mortgage etc they decided to work with me.They quickly got approved from a local lender, and we went to look at homes. At the very last minute Hannah texted me one more address to add to our tour, promising me she would never do this to me again. Well that one last house was the one. As soon as they walked in they knew. Funnily enough it was the first house we toured as well. We did go and see several other houses that day, but at the e... 11/22/2024

After all the searching, loan applications, seeing homes, visiting Open Houses the moment arrives when you know this is the home you want to buy. It is an exciting time and it can also be a stressful time.But, that is where working with an experienced Realtor brings a multitude of benefits. From price to terms, contingencies, settlement date a Realtor can give you advice. We do not make the decision for you, that is your job, but we can give you the confidence to make the right decision for you.So, let's explain the process of making an offer. In Pennsylvania we use a standard Agreement of Sale form, this is pre-printed with spaces for certain information. The agreement will include the parties to the transaction, the sellers, the buyers and their mailing addresses, the details about th... 11/21/2024

This is a common question from first time buyers and repeat buyers as well depending on how long it has been since they bought a home. Well the answer is, it depends. As you can see in the image above a seesaw which is balanced. Well the housing market is rarely in such equilibrium, it is usually one thing or another, a seller market or a buyers market and this can impact the length of the process.So, let's start at the beginning, many buyers start looking on line before they actually want or need to move. They look to see what homes are available, what are prices like in the areas where they might want to live. And then, once they have an angle on this, they approach an agent or Realtor to help them. Getting pre-approved for a mortgage is a first step, a good agent can help you find a ... 11/20/2024

First time buyers starting out on the road to home ownership have many questions. One of the common ones is What should I look for in a home?Whilst the number of bedrooms and baths is important it may not be the most important thing when looking for a home. This is why I always like to sit down and have a conversation with new clients about their lifestyle, what is important to them, and how they live their lives.Looking at houses is an art, as a Realtor we look at houses multiple times a week, we notice things other people do not. Often, we know when previewing a home if it will work or not for a client before they even see it.Some houses have great natural light, some are dark and need electric light all the time. Some houses have great flow, important if you like entertaining, no one... 11/07/2024

For a long time when buying a home people needed and put down about 20% of the cost of the home as a down payment. But, as prices rose lenders came up with different products and means to avoid having to put 20% down.Today, there are still some programs that require no down payment, especially for Veterans and those using a USDA loan. Then there are FHA loans and even conventional loans that require as little as 3.5% as a down payment. These lower limits make it far more manageable for buyers to afford a home. Plus for first time buyers there are also often local programs that might provide assistance in the form of grants or no interest loans that are forgiven that can be used toward down payments. These vary from State to State and even County to County.This is where using a strong lo... 11/06/2024

First time buyers have so many questions and all are good. Often the biggest problem is knowing what questions to ask when you do not know what you do not know. This series is tackling different questions many first time buyers have about buying a home and the different steps involved.We are still tackling questions revolving around mortgages and financing the purchase of a home. When I first sit down with potential clients I discuss with them how they intend to finance the purchase of the home they want to buy. Mostly, buyers are using a mortgage, especially first time buyers.So, my first step with them is to get them connected with a good, strong local mortgage lender/broker who can offer them different options, and loan programs including any first time buyer programs that may includ... 10/29/2024

I love showing older homes, but not every buyer wants an older home. However, we have many in our area. I was recently showing this home which dates from 1874 and when we went down into the basement we were excited to see this contraption above.At first glance you might think, well nick, it is just a furnace, but we knew from the seller disclosure that is is a dual energy furnace. It can use oil or wood. The two boxes in the front of the photo are for loading wood and emptying ashes below. When we had an inspector come over to look at the oil tank, more about that later he took a photo to show everyone back at his office as he said it is so rare to find these anymore.Now that oil tank, we had some ideas this was not in the best shape or supported correctly.The way the tank is supported ... 10/28/2024

I have found that most first time home buyers really have a mixed understanding of the home buying process and this included mortgages and how they work. They often don't realize there are different types of mortgages available, how interest rates affect their payments and how to choose the best option. So today, let's discuss this a little.When I moved to America many years ago, I also had to learn as it was very different to how mortgages were arranged in the United Kingdom. Our mortgages were completely variable with rates adjusting as the bank rates adjusted. Finding a 30 year fixed rate seemed like winning the lottery after having experienced the former situation.Fixed vs AdjustableIn America most mortgages are fixed rate 30 year term mortgages. This means it takes 30 years to pay ... 10/25/2024

If this is your first time buying a home this might be a question you have. In fact some clients who are first time buyers asked me this last week. So let's get into what things need to be paid for when buying a home.There are multiple costs when buying a home, from down payment, closing costs, home inspections, insurance and property taxes. So let's break these down.Down PaymentPeople often believe they need 20% as a down payment, this simply is not true. Some loans Veteran and USDA loans can have no down payment at all. There are also an assortment of different loan products that do not require you to have 20% to put down. Obviously, the more you do put down, the lower your mortgage payment will be but there are many loans that only require a 3 or 5% down payment. FHA loans work well ... 10/22/2024

Before buying a house and beginning the search for a new home you need to consider how much house you can afford. This requires knowing your budget, a word that many of us dislike as it requires some work to create. But you also need to understand if you can afford that new house and that can depend on current debts, income and your lifestyle. No one wants to be house poor able to eat only Ramen noodles everyday.Determine your incomeThere is a difference between your gross and net income. Gross is what your employer says they will pay you, net income is what you are actually going to take home after tax.A good start is to calculate your monthly income, taking into account salary, any bonuses and any other potential income sources, such as child support, alimony etc.Calculate your debtsW... 10/21/2024

We can choose between putting our listings on a combination lockbox or a Supra, Electronic key in our area.  The supra tells an agent who accessed the house and when.  It stops unscrupulous people from obtaining the combination and helping themselves to the seller's belongings.  This doesn't happen often but it happens. Or, an unscrupulous agent who doesn't feel like meeting the buyer at a house can give his client the combination and away they go.  This happens way more than you'd think, fortunately, it's never happened to one of my listings.  I always ask the seller which they are more comfortable with.  A combination can be appropriate if the seller lives there and can be there after the showing to ensure the home is properly locked up. If the seller is away or has a second home and ... 10/19/2024

This stunning two-story center home exudes charm and elegance, featuring beautiful hardwood flooring that flows seamlessly throughout the first floor. As you enter, you are greeted by a spacious center hall that sets the tone for the rest of the home. To the left, the inviting living room showcases crown molding. On the right side of the center hall, you'll find a generously sized formal dining room that is ideal for hosting gatherings. This room also boasts wainscoting and crown molding, enhancing its elegant atmosphere. As you move toward the rear of the home, you enter the family room which serves as the heart of the residence and is anchored by a beautiful fireplace, creating a warm and inviting ambiance. The family room is open to a gorgeous kitchen, completely remodeled in 2023. T... 10/17/2024

I was born and bred in South Philadelphia.  The only thing I know about horses, I learned from watching movies and TV shows.  In my world horses never lay down, or so I thought.Years ago, almost 40 to be exact, when I moved to the suburbs and started selling real estate, I was driving north on Airport Road in West Chester when to my horror, there were several horses, lying down in a field!I was panic-stricken so I drove down the long driveway to alert the farmer that his horses may be dying!  I got out of the car and ran to the front door.  Running in heels isn't ever advisable and of course, I turned my ankle.  As it reached the front door, a large muggy dog ran up to greet me by sliding his wet muddy paws down the front of my dress (in those days, a dress, pantyhose, and heels were ju... 09/20/2024

With the current talk about interest rates dropping refinancing a mortgage can be a smart financial move, but the timing and circumstances need to be right. Here’s a breakdown of the best time to refinance, things to consider, and how your home equity impacts the process:Best Time to Refinance: Lower Interest Rates: If mortgage rates have dropped significantly since you took out your loan, refinancing could help lower your monthly payments and overall interest costs. Improved Credit Score: If your credit score has improved since you first took out your mortgage, you may qualify for better rates, making refinancing worthwhile. Change in Loan Terms: You might want to shorten your loan term (e.g., from a 30-year to a 15-year mortgage) to pay off your home faster or extend the term to lower... 09/18/2024

Hershey's Mill is an over-55 community in popular East Goshen Township, Chester County.  It is about 45 minutes from downtown Philadelphia and minutes away from West Chester Borough, a wonderful college town with great shops and popular restaurants.  It is located on 800 beautifully landscaped acres and is a gated community with a community pool, tennis, pickle ball, bocce and so much more.  You can be as active or inactive as you choose as many clubs and fun things are going on there. Homes usually sell very quickly there and right now there are only 4 active listings.  Prices range from mid $200,000's to well above $700,000.  There is a home for every budget although you might have to wait a bit for one to come on the market and then act quickly!If your are curious about what Is for s... 09/17/2024

We have all heard about the lack of inventory for the past several years and seen with our own eyes the rising cost of houses in our areas. But specifically this past year I have noticed that builders new in-fill construction and large mansion style homes are nearly always being listed at $2 million and above. Just today I got an invitation to an open house for a new construction home priced at $2,335,520.If not above $2 million these new listings are in the high $1.7 million and above category. And it is not like these homes are hanging around either, they are getting snapped up by buyers looking to live in award winning school districts.This also puts pressure on housing in the lower price points as builders are now looking for lots for future projects. So homes that would have been b... 09/13/2024

When you are buying a house you may encounter excitement and fear. The excitement moves you forward with hopes and dreams about your potential new home along the Main Line or in Chester County or one of the other surrounding counties, Delaware and Montgomery. Then you encounter the issues of low inventory, strong demand and most recently the rising interest rates. So now fear rears its head as you wonder if you will ever find a home to buy.This is where using a professional and experienced Realtor like myself helps out. To begin with we sit down together and go over the whole process so you understand how we find your home, how you finance it, write an offer, put a deposit into escrow and what happens to it, negotiate the various contingencies, how we respond to inspections and finally ... 09/13/2024

I recently met an interesting man who is a horse psychologist, who uses the expression "Be the BRIDGE not the BLOCK." I have been thinking about this expression for well over a week, pondering as Michael Jacobs might say. If you want to know more about him, his name is Kerry Thomas and he has a website with links to social media and podcasts etc at www.SensorySoundness.com. Hopefully, I will be doing an interview with him later in the month or beginning of next month.I decided to twist his expression a bit and make it OPEN the DOOR don't LOCK it!There are some clever elements to this phrase, we acknowledge there is a DOOR, sometimes it is open, often it is closed. There are many people wanting to find and purchase a home as this will give them security, a place in which they can decorat... 09/11/2024

Roy Kelley mentioned about the Dahlia Exhibition at Longwood Gardens this past weekend. Well, it was a beautiful day on Sunday, so we took the short drive and spent some time enjoying the gardens whilst we were discovering the location of the Dahlia exhibition. I always enjoy the Italian Water Garden, and the fountain show in front of the conservatory with different music, they had some classics with Frank Sinatra and Billie Holliday and timing the fountains to their songs was clever.I have been very happy with the Dahlias I planted at home, but when we discovered the exhibit in the Longwood Conservatory and Ballroom area my jaw dropped. Admittedly many of these were from members of the Dahlia Society, so I think they might know a thing or two about growing them, but there were many ama... 09/09/2024

Well a couple of weeks into the big change in real estate and we see a lot of confusion. As much training and webinars as were available from every angle and many agents and managers just did not pay attention. Forms have changed and things need to be done differently, but some people have not made the change or just did not listen. We had a meeting in our office today to discuss what we are all seeing in practice as we represent buyers and sellers. Are agents answering their phones? How are they sharing offers of compensation, if at all?First, you need a buyer agency contract signed by your buyer that specifies what you are charging your client for your services, before you can show a home. This can be a flat fee, or a percentage, and once that amount is specified you cannot receive mo... 08/29/2024