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Devon, PA Real Estate News

By David Brandschain
(Long & Foster)
Home Prices in Devon PA for December 2012Real estate market data for Devon, PA is provided by David Brandschain of Keller Williams Main Line RealtyDevon Home PricesWe have seen listing prices decrease steadily over the last 11 months, as, we examine home prices in Devon PA.  However, we expect prices to continue to increase in 2013, as, the overall economy continues to improve and the average sales price has increased substantially 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 wan...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Old forge Crossing is an FHA approved condo development in Devon, PA with a great location close to Route 202 and a few minutes drive from the Paoli/Thorndale Septa line into center city. It has an active social life and the location allows residents to shop locally with Wegmans and Trader Joe's minutes away, plenty of restaurants in Wayne, Devon, Berwyn and Paoli  and if an active lifestyle is what you are looking for the development has a pool and tennis courts, plus Valley Forge National Park with access to the Schuylkill River Trail is close by. Plenty of golf courses are local as well. Currently there are two single bedroom condos available priced at $142,000 and $141,900, no one bedrooms with a den; three two bedroom condos priced between $190,000 and $209,000, a two bedroom with ...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
There has been lots of positive news in the last few weeks regarding the housing market. We commented on this and how we are seeing multiple offer situations develop and a real lack of inventory at specific price points in Main Line townships. Every quarter we try to show you the market compared to prior years so youcan see how the market is doing in our area. We use a square foot price methodology and also show days on market as well as the ratio of the last listing price to the obtained sales price.   Township/Time Period Qtr 3 2010 Qtr 3 2011 Qtr 3 2012 Days on market Ratio sold to list price Radnor $247 $235 $236 101 92.8 Lower Merion $232 $208 $216 104 93.3 Tredyffrin $205 $207 $202 102 95.7 Easttown $220 $210 $201 56 93.8 Charlestown   $183 $152 68 94.6 Willistown $199 $217 $196 1...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
I had read recently that wall paper was making a comeback as people move away from just paint, but had not seen any evidence of this whilst looking at homes with customers or visiting brokers opens till this week. Mostly, what I was seeing was old paper, often peeling at edges and with old fashioned patterns and color ways leaving you with a dated feeling which may be great if you are a TV producer looking for a home in which to film, but for todays buyer a definite turn off. However, yesterday I visited two homes, both with wallpaper that was stylish, applied well, with great colors and young feeling designs that did nothing but good for the property. If you need some help why not go to DesignyourWall and see the new styles, designs and colorways available to spice up your home and if ...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
The market for homes on the Main Line outside of Philadelphia is seeing every month a reduction in the inventory of homes available. All this year the supply of homes for sale has been reducing every month. At the beginning of the year it was at a 14 and 15 months supply, this past month it has dropped to just above 8. We are having a hard time finding homes for clients in some price ranges, and we are hearing of multiple offers on many of the homes going under agreement. Because of this prices have firmed and even risen in some price ranges and markets. At the same time, there are homes that have been on the market for long periods, either due to condition or being prices above the market. Some of these offer opportunities for buyers as we approach the winter with seller s being unwill...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
One of the hardest and most important things for buyers is choosing a real estate agent.  Hard because you need to do a little background work. For most agents you can find recommendations or references if you do some looking around on the internet, Trulia and Zillow carry comments by past clients, check both as it is hard sometimes for agents to get clients to comment on both. Also check out the agents own website and see if they have a page, video or comments by past clients. Ask friends, family and co-workers who they have used and why they liked them. You can also attend an open house and talk to agents there and see if you connect with anyone you meet. You will be revealing a lot of personal information to this person, so it needs to be someone you trust and like. Generally most re...
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By David Henke, Realtor, Homes Just West of Philadelphia PA
(Long & Foster Real Estate, Inc)
Easttown home sales activity and pricing remain under pressure Easttown Township is located in eastern Chester County adjacent to Tredyffrin Township to the north, Willistown Township to the west, and in Delaware County - Radnor Township to the east, Newtown to the south. Easttown was established in 1704. Founded originally as an agricultural area, its development grew as early roads developed and it became a stop on the Main Line to Philadelphia allowing an influx of new residents. Beginning in the 1950's, population growth accelerated as older farms were sold and homes were developed. Today Easttown has a population of over 10,000 with a prime suburban location on the Main Line. SEPTA provides convenient access to Philadelphia through the Paoli, Daylesford, Berwyn, and Devon Regional ...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
One of the things I love about real estate on Philadelphia's Main Line is how varied your week can be. It allows you to be flexible with your time and how different each day can be. As long as you schedule your time correctly you can always make those important family appointments. Yes, there are some "customers" who cannot wait and will call another agent to show them a property, but you probably don't want to work with them anyway because they don't value you or your knowledge that you bring to the process. However, it works both ways, there are days and sometimes weeks when you are busy that you are working long days and trying to fit in multiple jobs on trips in one direction or another. Last night for example after being in the office all day, making appointments for main line real...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Old Forge Crossing sales so far this year stand at twelve, one of these a one bedroom unit is a pending sale, nine are for one bedroom or one bedroom with a den units, one is a two bedroom unit and one is a two bedroom townhome with two and a half baths on two floors. These sales tell a story of owners who have bought at high prices and todays buyers looking for bargains. Like elsewhere in Chester County, prices have been under pressure, especially condominiums. Last year there were few sales as buyers needing FHA financing could not obtain it. However, as the Old Forge Condo association worked at and got each and every unit approved for FHA financing sales have picked up, especially for one bedroom and one bedroom with den units. Old Forge Crossing, set on forty plus acres has some won...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
It is said it takes people about ten seconds to size up another person and decide if they will like and or trust them. Often when out with buyers, it can seem they make a quicker decision than that about a home you take them to see. Walking through my own neighborhood, with many homes built at the same time and being a similar model, one home can be appealing another not so much. If you ask me what it is about a certain property that attracts or repels I can probably tell you some specific things, but many times it is how a property makes you feel and that is hard to quantify. I asked several friends recently what they thought creates curb appeal and the responses whilst varied, were pretty consistent. Lawn mowed Flower beds edged Weeds pulled Pet "land mines" cleaned up Front door pain...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Buyers are out in force, new listings are coming on every day this Spring along the Main Line and when a buyer finds a home that meets their list of requirements the next question is "To offer or not to offer". Some buyers don't want to compete with others feeling it will encourage them to pay too much. Some don't want to offer because it is the first home they have seen. Some want to just wait, in case they reduce the price. Several times in the last few weeks I have heard of properties that have received multiple offers, some have not gone under agreement as buyers have not made an offer enticing enough even in a multiple offer situation to encourage the seller to say "Thank you, yes I will accept your offer." Some have sold for over the asking price, if their Realtor is smart these ...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
In the last week along the Main Line I have made an offer on a home for a client, and visited two other listings where I learned that each had multiple offers. These were different townships and different price points. Buyers are out and active. But, what I am noticing from homes that are settling is that buyers are not offering full price, even where multiple offers are happening. Sellers have definitely got a better handle for the market and are pricing their homes accordingly, but buyers are very wary still of making full price offers and are holding firm on price offers, preferring to walk away and wait for something else than be forced to pay full asking price in this market. So if you want that coveted SOLD sign in the front yard, be willing to negotiate, however well priced your ...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
What do you do when you see one of THOSE bathrooms along the Main Line? You know the ones, they date from the 50's and 60's, they are well tiled, but the colors? What were they thinking? Even if you choose a retro look, most people want black and white, not grey and pink, or yellow and turquoise, or pink and turquoise. There are other combinations as well, some work better than others, what horrendous color choices have you seen? They can be so embarrasing that you just don't want people to even use them if they come over. Some color combinations are usable, yellow and black, for example, but if you just can't accept the colors you got in that Main Line home that meets every other item on your wish list, and you don't have the funds to remodel the bathroom in question an easy fix might ...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Are you thinking of living on The Main Line? I wrote this blog as a guest writer for Dale Siegel on her blog Diaries of a mad mortgage broker Devon is part of the Main Line to the west and north of the city of Philadelphia. Perfectly located with easy access to many major road and train routes, both north and south, and east and west with a well developed International airport it has become home to many National and International Corporations. Before the 1600’s Lenni Lenape Indians called this area their home. In the 1600s William Penn sold land to a group of Welsh Quakers for ten cents an acre, not a price we see today. The Main Line proper is a line of communities extending northwest from the City ofPhiladelphia. TheMain Lineoriginally referred to a water line which serviced particula...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Old Forge Crossing in Devon a condominium development of one bedroom, one bedroom and a den, two bedroom and some two bedroom townhomes is a highly desirable place to live. Located on forty plus acres it has some wonderful views, an active social community and is also located in Tredyffrin Township, part of Tredyffrin Easttown School District. I just listed a one bedroom home in here for rent and was there yesterday enjoying the beautiful weather and took some photos around the reflection pond. Hope you enjoy these as much as I did taking them of some of the hidden spots around Old Forge Crossing in Devon.   a view of the creek running through Old Forge Crossing.   One of the bridges across the creek One of the willows around the lake and creek.  Plenty of spots to sit and enjoy the bir...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Once again, national sales data is not truly reflective of local real estate markets. Plus these reports lag the market, so when the reports are made they are already behind what is happening in the market today. The Case Schiller Report referenced above is based on sales back in the fall, not even winter. All I know is that in the last two weeks as I call to make appointments I am hearing often, "Sorry, that went under contract this morning." Now, prices have definitely dropped, but as I have mentioned before, you can have prices falling on one street and rising on another one block over because of things happening in a neighborhood which have nothing to do with the national market. The same goes for developments, there are some locally where the home owner association fees have risen ...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
For those who live here, the condo association fee at first seems high but it covers lots of things. Gas for the dryer, gas for cooking, gas for hot water, water, pool fee, tennis courts, exterior maintenance, trash collection, a club house and snow clearing, a host of social activities arranged for homeowners and those who rent here. What it does not cover is the cost for the sewer, this is billed separately and this year it is $250, bills go out during February and are due March 1st, if you are later than March 10th there is a late fee. Like most places sewer bills are always in arrears, so you are actually paying for your 2011 fee. Your other utilities cable either Verizon or Comcast are available is extra, gas for your heating and electricity are not included in your condo fee and a...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
  We love a fire over the winter months, when it starts to get chilly, there is nothing better than warming the house with a nice cozy fire. We installed a wood stove a couple of years ago and it has helped us to reduce our heating bill quite substantially. But whether you have a wood stove or are lighting a fire in the fireplace you need to take some safety steps to make sure you are not putting yourself at risk. I was just reading about a fire in the chimney that destroyed a local home this past weekend and our local fire chief has actually posted some safety tips that are worth looking over. It seems redundant to say have your chimney inspected regularly, but so much advice today is ignored, but this can cost you your life. So please read it over and take the time to get your chimney...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
One of the best stores in the Devon area, especially in Gateway Shops close to Chesterbrook is Trader Joe's, people love our Trader Joe's, it is always busy as is Gateway shopping area which is full of other shops and lots of restaurants.  Staples, TJMaxx are two of the bigger stores, but you can find all sorts of things, we have a cigar shop, beds, vacuum shop, pet store, Five Below and if you need a coffee, close by is a Starbucks in the Barnes & Noble or you can stop by Panera Bread which sits in the corner of Gateway Shops, a great place for a quick lunch or early dinner. There are lots of other restaurants in Gateway Shops from the Gateway Diner, Kabab Cafe, Salad Works, Five Guys, Mannys including Outback Steakhouse and others as well. Just outside of Gateway Shops in Devon is Ca...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Most buyers ask for a Colonial Home when they look for a home. It is probably the most popular home for buyers today regardless of size. It is also the most enduring, the name is not all smoke and mirrors, really the first colonial homes were built back in the 1600's, and even today the style is popular. This photo of Stourhead House shows a little of the symetrical layout, although the two wings were added later and you can see they are slightly different. The style was brought over from Europe with the first settlers, people when they build a home pretty much stick with what they know. Many of those original homes reflect where the first immigrants came from be it Wales, Germany, England or France for example. In our area of Pennsylvania you see home styles from Cornwall and Wales in ...
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Devon, PA Real Estate Professionals