Devon, PA Real Estate News

By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
One of the great things about living in Tredyffrin Easttown is that there are so many events one can attend and enjoy. We are only about 20 miles outside of Philadelphia with all that the city has to offer with museums, the orchestra, theater and award winning restaurants. But locally too we have many great events. One such resource is the local Penn State Campus. Penn State Great Valley, located at 30 East Swedesford Road, Malvern PA 19355 has lectures and events throughout the year, they just released their fall calendar and there are several events worth noting. Motown meets Jazz sounds like something to set your feet tapping at the end of the summer.Nutrition, the forgotten medical science in October.Hue 1968: A Turning Point of the American War in Vietnam in October.And Cojot a pre...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
July 2017 Market Report for Tredyffrin Easttown Real EstateI always find it interesting to hear national statistics bandied about in relation to local real estate. I noticed this year whilst everyone was talking about how the lack of  inventory was causing a drop in sales and a slow down in settlements that this was not the case for Tredyffrin Easttown Real Estate. So why don't national real estate stats apply to Tredyffrin Easttown Real Estate?In May when everyone was crying how there were few if any pending sales Tredyffrin Easttown Real Estate had them stacked up for June and July settlements. Maybe because Tredyffrin Easttown School District is so highly rated on Niche National School Rankings having been #1 in the country last year they slipped slightly to #2. But local school dist...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Part 1 Open HousesIn my first year of business I did lots of open houses, I never liked making phone calls, but put me in front of people and I can chat for a long time. My very first open house a couple came in who were moving to the area from New York state. No, they did not have a Realtor, could I help them? They liked this house, but it was not really what they were looking for. It took a while to zero in but we found them a great home, and they are still living there today. I am also still doing Open Houses and am a big believer in them, often seeing sales as a result of open houses. I just listed and sold a home in 5 days having 26 groups through the Open House before it was even in the MLS, we received 11 offers and it settles at the end of this week.Part 2 MentorI was not a grea...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
This week a local lender was suspended by HUD from issuing any FHA program loans due to fraudulently submitting false accounting statements to the government authority. The company, Seckel Capital submitted accounts over a period of years which were supposedly audited by independent certified public accountants. But, they weren't. As such HUD has suspended the lender from issuing loans backed by FHA. "In addition, HUD's Departmental Enforcement Center suspended owner John Seckel from doing business with the Federal government"Suddenly, borrowers in the process of obtaining mortgages with this company are finding they can no longer obtain them. So what do you do in a situation like this?First - don't panic. Turn to your real estate agent and let them know what has happened, if they are n...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Nick, where have you been, what have you been doing?Being a Tredyffrin Easttown Realtor can be erratic. We all try to create a rythm to our lives, having set times for specific work, but the nature of the job is to satisfy your clients and wow them with superior service. So, that rythm does not always work out. As an agent I am putting my clients needs ahead of my own within reason. But a hot market means you need to be available to show properties.The past couple of weeks have been busy. July the 4th weekend I had family come to town and they kept us busy. I stopped over to read some posts on Active Rain but could not find the time to write any posts.Then when they left my phone started ringing. Our market has been very hot this year and working with buyers is hard as you have to act q...
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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 Condominiums There are certain developments that are loved by the residents, be they owners or tenants. Old Forge Crossing is one of those. Located in Tredyffrin Easttown School District the two bedroom apartments and townhomes are desirable for those with smaller families who want to get into a home in this award winning and #1 rated school district by Niche.Elementary School is New EagleMiddle School is Valley ForgeHigh School is ConestogaThis development is located on a historical patch of land, close to Valley Forge Park, the British camped close by here and returned to this camp after the Paoli Massacre. (follow the link and watch the video for information on that).Old Forge Crossing offers residents walking trails within the 40+ acres, gated access to the Cheste...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Tredyffrin Easttown Real Estate - Buying New ConstructionNew construction is desirable to many buyers, but it comes at a cost in a built up area like ours where land is limited. The Main Line, Tredyffrin Easttown area is not like Charlotte NC which seems to discover new land every time you turn around for development. Here we have established neighborhoods, towns and villages.If a large estate or part of one comes up for sale then we have an opportunity for new construction as we have seen with the Dupont Estate in Newtown Square, Liseter marketed by Toll Bros. who are very active in the Chester County and surrounding areas. The video below discusses just the Tredyffrin Easttown School District.Since making this video there have been several lots where builders have torn down an existin...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Tredyffrin Easttown Real EstateThis week we are tackling a question we get asked frequently, Why do I need title insurance, what does it do?Secondly as our clients talk with the title company they then get asked do you want the standard or enhanced policy?Well we sat down with Colleen P Heath of Sage Premier Settlements, (disclaimer they are a subsidiary of Long & Foster Real Estate and if you use them, Long & Foster makes money from that transaction).Watch our video and let us know if you have any other questions? Title Insurance has two parts, an owner policy which covers you the owner, and a second part that insures the banks interest in the property. Whilst you may waive your coverage a bank will insist that you have coverage protecting their interests in the property.  If you refin...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
This week in Tredyffrin Easttown Real EstateAs we noted in the last few reports, settlements in May were very low, however there were plenty of pending sales and we are now seeing these pending sales going to settlement. Market Minute15 new homes were put on the market this past week ranging in price from $399,900 to $1,825,000, of these one is under contract, there are 242 homes for sale in the Tredyffrin Easttown School District of which 27 are under contract.4 homes went pending in the last week, with prices ranging from $265,000 to $574,500, there is a total of 128 homes pending right now in Tredyffrin Easttown School District.17 homes went to settlement with prices ranging from $285,000 to $1,775,000, average price realized  to original list price is 98.6% and average days on marke...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Tredyffrin Easttown Real Estate - Do you know when you need a survey?Buying a home in Pennsylvania and in Tredyffrin Easttown School District does not require the buyer to obtain a survey. it is a choice unlike some other states around us.However, there are circumstances whenyou should definitely have a survey carried out. Check out our video for advice:When you should have a survey: If there are any disputes over property lines Building a pool Erecting a shed Planning to extend the house after purchase Erecting a fence If the amount of property you own is important to you Knowing your property lines can be important, it does take time to set up a property survey and depending on the size of the property and how complicated the lot is it can be expensive. But we have had several instanc...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Tredyffrin Easttown Realtor Nick Vandekar just received another 5 star review from a satisfied and happy client.We were contacted by this client after they had moved out of the area and had an Old Forge Crossing condo to sell having rented it for a while. Location was wonderful and working with the tenant went very smoothly as we got the home prepared for sale arranging showings and giving plenty of notice to the tenant. We got the home under contract with multiple offers very quickly and moved it along to settlement making sure to help both tenant and owner know the process and what was happening at each step. As the client was out of town we arranged for a deed package and for the owner to see the closing disclosure well ahead of settlement.We just got notification this client left th...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Tredyffrin Easttown Real EstateA common question from buyers is "Do I need a home inspection?" Watch our short video with Nick Vandekar, Tredyffrin Easttown Realtor with Long & Foster Real Estate, Inc. in Devon PA who tackles this simple question from several different angles.The purpose of a home inspection is to make sure the home has no material defects or safety issues that can affect the value or safety of the home. The general buyer doe snot have the experience to know the condition of a home. An agent, even an experienced agent is not a home inspector with the experience of inspecting multiple homes a week.So the easy answer is to protect yourself and your investment is to always carry out a series of home inspections. These include: General home inspection Radon Wood destroying ...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Tredyfrrin Easttown Real Estate 6/12/17 to 6/18/17Last week in real estate in Tredyffrin Easttown School district.Another busy week in Tredyffrin Easttown with 31 homes settling with prices ranging from $147,000 to $1.25 million, these homes sold in an average of 46 days on market at 96.3% of their original list price.Seven homes went pending with prices ranging from $219,000 to $999,000 these homes selling with an average days on market of 83.21 new listings came on the market with prices ranging from $269,000 to $1.8 million, although this latter home was a relist having already been on the market for 120 days before. Of these new listings 2 are under offer already.We saw May had very few settled listings and June seems to be making up for it as school closes many homes are going to s...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Tredyffrin Easttown Real EstateFrequently Asked Question: What happens to my deposit if I can't get a mortgage?Even when you have a mortgage pre-approval things can happen to derail a real estate transaction. Many first time buyers worry they will lose their deposit if they cannot get a mortgage. Well, it all depends, and is another reason to select an experienced and strong buyers' agent to represent you so you are protected.Watch our video that deals with this question:Depending how your agreement of sale is written matters when a mortgage is refused.The reason for your failing to get a mortgage might be loss of a job. It might be a low credit score. It might be the requirement to use an FHA loan when the home you are buying is not in an FHA approved development. There are many reason...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Tredyffrin Easttown Real EstateWhat happens to my deposit and What is an Escrow Account?When you have never bought a house there are many questions which are in your head, but you don't want to ask. I have found over time that many buyers do not know what happens to their deposit. Some believe it goes into the Realtor's holiday fund account, others to the seller.Watch our video and see how Nick Vandekar, Tredyffrin Easttown Realtor with Long & Foster Real Estate Inc., explains this and also what is an escrow account?Highlights of this video: In Pennsylvania there is a first deposit with the agreement of sale, this check only gets cashed if the agreement is accepted and signed by the seller.  This deposit is paid into an Escrow Account. An Escrow Account is a bank account held by a real ...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Tredyffrin Easttown Real Estate - May 2017 Luxury marketThe price point for a luxury market starts at different points across the country. Here in Tredyffrin Easttown generally anything priced above $1,000,000 is considered part of the luxury market. Being the only Christies Real Estate representative in the Philadelphia area Long & Foster Real Estate Inc., has some different price points for select programs for luxury homes. To ascertain what programs your home might enter please contact Nick Vandekar, luxury home specialist in Treedyffrin Easttown with Long & Foster Real Estate Inc. Nick@VandekarTeam.com, office 610-225-7400, cell or text 610-203-4543.In May 2017 the luxury market appears quite active, which is a good sign as this part of the market has been slower to recover than oth...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
This week in Tredyffrin Easttown Real Estate This is the height of the real estate spring season, we are seeing more homes coming to market as the weather improves and school draws to an end. What is left of the Spring selling season is short as families get ready for vacations, summer camps and going to the shore for the week or the weekend. This past week saw 19 new homes listed for sale from a 1 bed 1 bath apartment for $124,900 to a 5 bed 7 bath home for $1.895 million.5 homes went Pending this week 2 of which came on the market and sold in the last week. These pending home sales ranged in price from $339,900 to $1.1 million.Finally 10 homes settled this week, with an average days on market of 70 days and prices ranging from $136,000 for a 1 bed 1 bath condo apartment to a 5 bed 6 b...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Tredyffrin Easttown Real Estate May 2017 Single Family Homes $500-600,000May was an odd month for sales in this range with only one house settling but with plenty of action and many homes going under contract and with plenty of pending sales.As can be seen the house which settled took 48 days to sell was originally priced at $639,000 and sold for $585,000 after a price reduction to $599,000, this house was in Tredyffrin Township. There are 16 homes with pending status, 2 in Easttown and 14 in Tredyffrin Township, prices range from $524,500 to $600,000, both the lowest and highest priced homes are in Tredyffrin with the two Easttown homes falling in the middle range. Average days on market for pending homes is 52. What is the difference between "Days on Market (DOM) and Property Marketin...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Tredyffrin Easttown Real Estate - Apartments and Condo SalesTredyffrin saw a lot of activity over the month of May with Easttown recording one sale in Devon Green of a 2 bed 2 bath apartment for $248,000.This is normal as Tredyffrin Township carries many more apartments and condos than Easttown.There are 12 apartments listed for sale priced between $150,000 to 250,000 with an average of these listings being on the market for 15 days. Of these listings 5 are under contract leaving 7 for sale.There are 17 listings pending settlement all in Tredyffrin Township with prices ranging from $139,900 to $575,000, the average time for these to be on the market are 53 days, pushed up by the highest priced unit which has been marketed for 240 days.In May 17 apartments settled with priced ranging fro...
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By Nick Vandekar, 610-203-4543, Selling the Main Line & Chester County
(Realty ONE Group Advocates 484-237-2055)
Why can't I see this house?I get calls all the time to see certain properties from potential clients who do not understand how many thrid party sites work in relation to properties being available for sale in the MLS. You may find a property for sale on any of the big search sites but it is not available for showing for several reasons.It may be under contract, it may not be allowing showings for a limited time, showings may not have begun, or it is not in the MLS as yet. All MLS systems have rules about what can be shown and when, unfortunately sometimes homes show on third party sites when they are not available for showing.Watch our video dealing with this?If you want your home marketed fully or are interested in seeing homes in the Tredyffrin Easttown School District and close by co...
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Devon, PA Real Estate Professionals