Summer 2022 Main Line Real Estate Market UpdateGiving you the confidence to make the right decision Take a look at The Chester County Monthly Statistics. Median home values have risen by almost 15%, inventory available has increased slightly. This is a great example of what we see happening across our neighboring local counties, Montgomery and Delaware Counties too. Let me know if you want to see your local information.  The market is cooling off after being incredibly hot for almost two years When you look at the same week last year: - Closed cases were down 22%, Pending sales were down 23%, Days on market is up by three days, New listings are down 22%, Showing activity is down 27%, Inventory is up 28%. 45% of the houses on the market in July in our footprint reduced their price If you... 08/09/2022

West Chester has long been a popular housing choice in Chester County. It is the county seat of Chester County, the home to West Chester University, and is rich in dining and entertainment options.As seen throughout the county, the housing market remains very active in the Borough with relatively stable sales and rising average prices over the last several years. From the attached chart, average prices from 2017 through 2021 rose over 22%. Year to date they have continued to rise to an average of $573,000 but this will come down a bit as there are an additional 15 properties under contract with average list prices of $445,000.In addition, there are currently 14 properties on the market with prices ranging from $324,000 to over $1,000,000 with styles and options to cover most needs - all... 07/15/2022

Although the market is cooling, certasin properties are still going strong. Welcome to 358 Devon Way in Hershey’s Mill. This oversized unit with Great Room won’t last long! Centrally located in sought-after Devonshire Village, this comfortable 2-bedroom, 2 full bath ranch-style home sits on a quiet cul-de-sac and offers the best in one-floor living, including a spacious carport with large storage area. This freshly painted home has been extended in the past giving it a spacious feel and added entertaining space. Entering the foyer to your Left from the front door, you see the eat-in kitchen which has access to the Great Room, or you can simply enter the Great Room directly from the hallway. The kitchen features stainless-steel appliances, luxury vinyl planking and solid wood cabinets, p... 07/13/2022

For the first half of 2022, the Chester County PA housing market continues to be strong but appears to be constrained by very limited inventory.Currently, there are only 672 properties on the market compared to 852 properties in 2021 - down 22%. Active inventory is also down 46% from 2020 and 73% from 5 years ago in 2017. As seen on the attached chart, overall sales and pending sales have been much more consistent. Even with the drop in inventory, there has only been a 5% drop in sales and 23% drop in pending sales.Overall, we are continuing to see strong demand throughout the area. The recent increase in housing prices and interest rates are having an impact but demand continues to outstrip supply. Multiple offers, limited inspections, and all cash offers continue to be common.As alway... 07/13/2022

A perfect day for the 4th of July! Relax & Enjoy David HenkeLong & Foster Real Estate Inc – Wilmington, DE/Devon, PAOffice: 610-225-7400/Direct: 610-618-0808http://www.DelawarePAHomes.com    07/04/2022

Our local Veterans Association fly this flag at the War Memorial in Berwyn, PA. The frame is designed to look like a Conestoga wagon. Conestoga is the name of our local high school, winner of many awards, and a leading school for many years in the nation.The names of all those who have served from the Township are inscribed in the bride over the train tracks and in Wilson Farm Park in Tredyffrin, including my son, Jeremy. In Wilson Farm Park, the Veterans fly a Garrison flag, a large flag usually flown at military bases. This is my entry for this week in the monthly contest.  06/15/2022

Our local Veterans Association fly this flag at the War Memorial in Berwyn, PA. The frame is designed to look like a Conestoga wagon. Conestoga is the name of our local high school, winner of many awards, and a leading school for many years in the nation.The names of all those who have served from the Township are inscribed in the bride over the train tracks and in Wilson Farm Park in Tredyffrin, including my son, Jeremy. In Wilson Farm Park, the Veterans fly a Garrison flag, a large flag usually flown at military bases. This is my entry for this week in the monthly contest.  06/15/2022

Last night, Chester County PA brought the crowds out for the first Town Tour in 3 years. Traditionally opening the series in West Chester with remarks by local officials, this year's special guest was citizen-scientist and Ben Franklin friend, Humphry Marshall who is celebrating his 300th birthday this year. Poor guy had to stand to receive citations while all the officials sat on the platform.  We had a choice of 7 possible tours and presenters who set us on our way on a beautiful evening in West Chester.  I chose to tour the northeast quadrant of town, which is loaded with Victorian, Arts and Crafts, Colonial Revival with beautiful grounds around all the houses.  I remember seeing the French chateau above several years ago while it was being restored by the last owner--the new people ... 06/10/2022

We have all encountered a home with failed seals in the windows. How bad the window looks varies, but if we are about to list it, we know it will be better if those seals were not failed and the window foggy. Even in this market, the buyer is likely to comment or request the window be replaced. However, in our market there is another option.I recently got an email, well several emails from Derek Posch of DPGWindows explaining that his company repairs windows that might be an issue in a home inspection. Note, the difference here, the window can be repaired, at a fraction of the cost of a replacement. Well, my fiancée actually has several windows that have failed seals, and as we will be selling the home shortly, we thought we would see how well Derek's promise would hold up. See for your... 04/28/2022

People think in different ways. Some think small and some think big!Some people come from a mindset of scarcity and therefore think small, unwilling to take any risks and hence unable to receive any reward.Then there are those who know there is no scarcity, are always willing to share, and give. They think big, they take chances, and they often get a big payout, what the small thinkers then label as lucky.Last week I had a phone call from a small thinker. I had been discussing with them about listing their mother's home. The son gave many reasons why they couldn't list yet. He was going through photos and it was very emotional and taking time. Initially they had said the home would be cleared and ready to list by the previous weekend. In a conversation that week, the son mentioned how h... 04/26/2022

Buying a home is an exciting time, however, there are many different costs associated with that home purchase. One of these is Title Insurance, and for some strange reason it appears on the ALTA as an option, when in fact it is very important that you carry this insurance.1) There are two types of Title Insurance, a lender policy, that the buyer usually pays for and covers the mortgage company's financial interests, and an owner policy. This owner policy is the one that appears as an optional cost on the ALTA.Firstly, if the lender is obtaining a policy, don't you think that is an indication that you might also want to obtain a similar policy to cover you and your heirs' property rights as well.Whilst a lender policy has to be renewed if you refinance, an owner policy covers and protect... 03/29/2022

I received a late night text one day last week. Glancing at the number I realized it was my manager. "Could I talk?" I was getting ready to go to bed, but I replied yes.She had been asked to refer some agents to another agent in our company who was out of state and had a referral they wanted to place. She had spoken with the agent and thought I was a good referral for the situation and was going to give my details to the agent and hers to me.It seemed this was a friend of a client of hers, who lived up here and wanted to buy a house. He was under contract with an agent, and had submitted an offer, but did not feel comfortable with the agent's knowledge or ability.I called and spoke with the agent the next morning. She went over the situation with me again, stressing how the referral was... 03/14/2022

Buying a house seems to involve a lot of paperwork, from the consumer notice,  buyer agency agreement and the agreement of sale, plus all the brokerage disclosures and lead paint pamphlets. It varies from State to State, but here in PA, our agreement is 13 pages long. On top of that most buyers obtain a mortgage and the mortgage lender requires a whole host of documents to verify if you are going to be able to repay the loan they are making. It can all seem overwhelming, but I met up with Shawn DeAngelo of Prosperity Home Mortgage and tried in today's video to break it down so the documents you are going to need for your mortgage are easily understandable. But, if you have questions, reach out.Check out some of our other videos, don't forget to subscribe to our YouTube channel, and clic... 03/08/2022

Need help selling your home, contact Nick Vandekar, Associate Broker today, cell or text 610-203-4543, office 610-225-7400 or Nick@VandekarTeam.comList it on OldForgeCrossing.comStats from Old Forge Crossing 2021  One Bedroom Two Bedroom Town House 16 homes sold in 2021 2 were second floors with den 4 homes sold in 2021 2 homes sold in 2021 Average Price $192,506 Average price $234,525 Average Price $262,875 Highest Price $220,000 Highest Price $238,000 Highest Price $266,000 Lowest Price $155,000 Lowest price $230,000 Lowest Price $259,750 Average days on market 18 Average Days on Market 12 Average Days on Market 7.5  22 homes sold in 2021, highest offer was 109% of asking price.Seller Services – Competitive market analysis, Professional Photography, Video, Estate Sale Specialist, Stag... 03/05/2022

Lots of people think the only amount of money they need to buy a house is the down payment. But, there are many other costs associated with buying a house, inspections, insurance, appraisal, and many more. Our video with Shawn DeAngelo of Prosperity Home Mortgage today addresses some of these more fully.Don't forget to subscribe to our YouTube channel and check the bell to be notified of when we post new videos.Let us know what other home buying subjects you have questions about. Check out our video on How Much Money do I need to buy a house? and What help is there for First time buyers?Thinking of selling, or ready to buy a house, contact Nick today, office 610-225-7400, cell or text 610-203-4543, Nick@VandekarTeam.com, or through our website www.SellingTheMainLine.com.  03/04/2022

Real Estate Market UpdateGiving you the confidence to make the right decisionTake a look at just one local county – Chester County. Median home values have risen by nearly 10% and sales prices have risen by almost 12%1. This is a great example of what we see happening across the suburban Philadelphia region. Delaware and Montgomery Counties have seen similar rises in home values. The economic climate has been a large contributing factor to the wave of increased values: Continued historically low interest rates Reduced numbers of homes for sale, down nearly 60% in 2021 compared to the previous year. And looking at the 4th quarter of 2021, there has been a 75% reduction in available homes for sale compared with the same quarter in 2019. 40% of Americans are considering a move in 20222 As ... 03/03/2022

It was a beautiful, sunny day October 2--perfect for this long-running Pennsylvania house tour. With 23 homes to choose from, we decided to start with those around Everhart Square in the Borough of West Chester. And what a winner the Paxson house on Union St. was. Built in 1850 and owned by the same family today, it highlighted the talents of the owner.  He builds finials for lightning rods, but has become a self taught cabinet maker, creating doors, paneled walls, wainscoting, and period furniture in the home. One piece I particularly appreciated seemed to be a copy of a high chest by the Dunlap family of New Hampshire which is in the collection of nearby Winterthur Museum. We ran into a friend of the owner outside,and he gave us a tour of the grounds, which extend way back into the ce... 10/04/2021

Nothing beats old Mother Nature at this time of year, but definitely giving her a nudge is Glen Willow Orchards in Avondale, Pennsylvania. Although it takes a few minutes longer to get there than to my regular grocery store, when I need farm grown produce and especially their orange juice, I make a beeline north of my Hockessin, Delaware office to this friendly place.  What a variety of pumpkins and fall decor I found. There was a whole menagerie of animals some crafty person had fashioned out of straw, all looking out towards the fields of veggies.      Also loved the moose family and the chickens with the big feet.  I bought a warty pumpkin and golden pepper plant.        09/27/2021

Currently under contract - 1 Redtail Court West Chester PA 19382 - Welcome to this Move-In Condition Luxury End Unit 3 bedroom 2.5 bath Townhome located in Hunters Run.As you enter 1 Redtail Ct you will find the spacious living room/ dining room is set off by columns and rich molding. This light filled open space is finished with gleaming hardwood floors, plush carpeting, and high ceilings making a perfect entertaining space. Working from home is a breeze with a first floor office space featuring a 12 pane glass door just off the entry area, a convenient first floor powder room, and easy inside access to the 2 car garage.Just beyond, you will find the open kitchen / family room area. The gourmet eat-in kichen features 42" Maple cabinets, a large center island, separate pantry closet, an... 06/14/2021

"Sweet, A Walking Tour of West Chester PA" was the billing for this Chester County History Center tour today.  The History Center, founded in 1893, sponsored this talk led by guides in period costumes.We started out with an explanation of the types of cacao pods, then a demonstration of the beans being ground on a stone metate with a heat source underneath. Looked like a lot of work! We then visited one of the country's top chocolatiers, Eclat, on South High Street. Christopher Curtin, the owner, gave us samples of a truffle (delish!) and a piece of dark chocolate (wow!).  A steady stream of clients pulling up and picking up orders showed just how popular this chocolate is. Another stop was Gemelli Artisinal Gelato, on West Market Street. The owner, Vincenzo (genuine Italian craftsman) ... 05/08/2021