Main Line Homes Blog

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Giving more than 100%...maybe this will help.

I do not know where this came from, but our manager shared it with us the other day in a meeting and I thought after a little editing it was worth passing on.

From a strictly mathematical viewpoint it goes like this:

What makes 100%? What does it mean to give MORE than 100%? Ever wonder about these people who say they are giving more that 100%? We have all been to those meetings where someone wants you to give over 100%. How about achieving 103%? what makes up 100% in life?

Here's a little mathematical formula that might help you answer these questions:

If: the alphabet is represented numerically A=1 B=2, C=3 etc.  thru Z=26;

Then:

HARDWORK = 8+1+18+4+23+15+18+11= 98%

and

KNOWLEDGE = 11+14+15+23+12+5+4+7+5 = 96%

but

ATTITUDE = 1+20+20+9+20+21+4+5= 100%

and

WHO YOU KNOW = 23+8+15+25+15+21+11+14+15+23 = 170%

So you can conclude with mathematical certainty that while HARD WORK and KNOWLEDGE will get you close and ATTITUDE will get you there, it's WHO YOU KNOW that will put you over the top to success.

12 commentsNick & Trudy Vandekar • September 17 2007 01:46PM

How involvement in the Suburban West Realtors Association helped my career.

 

 

This is a copy of a recent article I wrote for Realotr News, the September/October 2007 issue.

Simply put I am a great believer in giving back to your industry. Before becoming a real estate practitioner in the United States, I was an antiques dealer  in the United Kingdom. One of the most fulfilling ad rewarding aspects of my experience there was serving on several antique fair committees and also helping two different national associations with authentications for customs authorities. I suppose my father was an example in this to me when I was younger. So it seemed natural to me when I became a REALTOR® to become involved in the association.

My first year was really spent building my business and trying to get to know what the association did. It seemed to be a mystery to me and to many with whom I talked. So after that I decided to just dive in and apply to serve on different committees. It took a little while but I now go to the REALTOR®/Lawyer Committee that meets monthly, sit on the REALTOR® Education Advisory Panel, raising funds for RPAC and what I have found most interesting getting involved in Government Affairs. I have responded to calls to action issued by the national and state associations to lobby members of government in Harrisburg and Washington about decisions that could negatively impact real estate and ultimately affect real people. I have also had an opportunity to meet with different representatives in Harrisburg and lobby on behalf of our members and our customers as well.

So why do I participate, other than for the purpose of giving back? One main reason is that I actually use the association more as a result of having a better understanding of what it does.  I believe many members have no idea of the full resources the association and the Suburban REALTORS® Alliance can make available to them and the knowledge that is available to answer questions as well. Nor do I think most REALTORS® understand the constant attack upon our industry that is currently being waged locally (i.e. spot tax assessments), at state level (i.e. continued threats to raise the Real Estate Transfer Tax) and nationally (i.e. proposals to reduce or remove tax deductions for interest on mortgages). Without the staff of the association constantly being on the alert our jobs would be tougher if home ownership became more difficult for consumers, especially first time home buyers.

It has also given me a better understanding of my responsibilities as a REALTOR® to my clients as well. Every opportunity that I meet with other REALTORS® at Association programs and activities gives me the chance to learn and grow. I have received good ideas about blogging, websites and other ways of building my business as well. Instead of feeling like if I share I'm giving someone a competitive advantage, I feel there is a true sense of community among other active members in the association to help one another.

Many people believe that being a REALTOR®is an easy way to earn money because they lack the understanding of what we really do and when we do it. Frankly, those who do earn large incomes work hard to do it, and often those coming into the business have no idea where to start or what to do next. That is where being an active member of the association can help. Through education, seminars and networking opportunities the association allows us to learn from others and share our knowledge so that all REALTORS® are a credit to our industry and to the consumer.

So how can you get involved? Consider attending a meeting. Call the office and ask if they need any help. Spend some time on the association website and see what resources are there for you and your clients. Volunteer the next time you hear there is a need. And most importantly, don't worry about the time it takes away from business as what you gain will repay you several times over for the time and effort you give.

0 commentsNick & Trudy Vandekar • September 17 2007 08:37AM

If priced correctly and marketed properly properties sell

We recently were asked to list a home that was part of an estate on Derwen Road in Lower Merion. Great location and a wonderful old house, but it had suffered over the years. Originally a large and invitingl family home and the practice of a dentist this Tudor style colonial must have been beautiful. The taxes charged indicated a home that should be in the $650,000 to $750,000 range, but the condition of the home did not warrant this. So we put a price of $449,000 and marketed it as a fixer upper being sold "As Is". You can see full details here.

We received a lot of interest and the owners had worked hard to clean out the collections of lifetimes that had filled and cluttered the house, allowing buyers to at least see the bones and the possibilities that lay underneath.

                                                        Derwen Road 

                                                      An old photo shows how the house could look.

The first day showings were allowed in it was like a revolving door, with multiple agents and clients comng through all day long, many coming back with contractors, builders and architects. We started getting calls early on during the day asking if we already had offers with promises of offers to come. Well we quickly got an acceptable offer and the house is under agreement. Even in this market there are plenty of buyers, it is all about pricing correctly and marketing the property correctly to get it sold.

2 commentsNick & Trudy Vandekar • September 17 2007 08:30AM

Market Statistics on the Main Line, PA

I was looking at some market statistics yesterday and realized that whilst everyone is all doom and gloom the picture is not so bad. Yes, there are certainly more homes on the market now than last year. Actually it has nearly doubled in every county I looked at, Chester, Delaware and Montgomery.

But, sales have also increased over last year, yes, more homes were sold in each county, than the same period last year. Prices are pretty stable in our area according to statistics, however buyers are putting low offers in on most properties, but if homes worth more are being sold it pushes up the median home price and does not give a true reflection of price.

Now admittedly there are more homes on the market than can be absorbed and days on market has increased, but that statistic keeps coming back to me, more homes sold than this time last year. So do not be discouraged if you are a seller. But what does it mean to you.

You need to price it right. You need to make your home stand out from all the rest. It needs to sparkle, it needs to cry out to be shown to buyers. Buyers cruising the internet need to call their agent and say, "Why haven't you shown me this property?" And did I say you need to price it right. That is the most important thing at the moment. You are not going to get the last penny out of your home sale whatever you think. Prepare your home for sale, get it looking beautiful and be reasonable and you will sell your home fast.

If you do get an offer, work it, don't get insulted, don't try to be clever, just treat it as a business decision and listen to your realtor.

2 commentsNick & Trudy Vandekar • August 29 2007 05:27PM

Old Forge Crossing August 2007.

After last year when we saw almost 50 homes in Old Forge sell this year has seen a marked reduction in sales. This year to date there are 3 homes for sale, two 1 bedroom units and a single 2 bedroom townhome. One home is pending and there have been 16 homes that have settled. Prices seem to have stabilised as well. Probably these two things are related, with less competition prices are not under so much pressure. On the other hand they also have not risen with less on the market. For more market information please go to Old Forge Crossing

                      Old Forge offices

Again, price depends so much on condition and what each owner has done with their home. If the bathrooms and kitchen have been updated with newer appliances, you have newer windows and maybe even have replaced your heater and a/c unit you will get more money. If however, you have the same carpeting from fifteen years ago and the original bathroom and kitchen you will find the price at the lower end of what units are bringing.

Old Forge is a well liked development. It is well looked after, has lots of amenities, swimming pool, tennis, walking trails and the monthly fee is fair for what is included, such as gas for cooking, and drying, water etc. Prices are stable and storage in these homes is good. I find taking buyers who live in Old Forge out looking at homes a challenge as they always complain about the lack of storage and closet space in homes that we look at. What many owners like here is that the units are completely self contained, washers and dryers are within the units, no coins needed here to do your washing. Each home has it's own front door without being on a central corridor. And most of all the landscaping and grounds are delightful.

                      

                         Duck pond Old Forge

So how about prices in the current market, 1 bedroom units are selling between $165,000 and $175,000, a recent 1 bedroom actually settled last week for $163,900 and another for $172,500. If they have a den these prices will be a little higher. 2 bedroom units are being priced anywhere from the $190,000's to well above $200,000 depending on their layout, location and if they are one fo the townhome units with two floors. For more complete details of recent sales please go to Old Forge Crossing

0 commentsNick & Trudy Vandekar • August 14 2007 07:51AM

As a newer American this is touching - I hope you enjoy it as well!

My wife Trudy sent this to me today, as well as to a young Marine departing on a six month deployment, and our son who is preparing to deploy to Iraq for a second time. It is comments written by Isaac Asimov in 1991. As a newer citizen this touched me, especially as my home before was Britain.

By Isaac Asimov

Introductory Note. Unless you're already well acquainted with our "national
anthem," this interesting piece by the late Isaac Asimov will be an
eye-opener. It was for me. It's especially appropriate at a time when
there is much talk of tossing out this difficult-to-sing and
difficult-to-comprehend old song in favor of something that better suits Ray
Charles' voice. You'll understand the song much better after you read Mr.
Asimov's explanation.--Hardly Waite, Gazette Senior Editor.


I have a weakness--I am crazy, absolutely nuts, about our national anthem.

The words are difficult and the tune is almost impossible, but frequently
when I'm taking a shower I sing it with as much power and emotion as I can.
It shakes me up every time.

I was once asked to speak at a luncheon. Taking my life in my hands, I announced I was going to sing our national anthem--all four stanzas.

This was greeted with loud groans. One man closed the door to the kitchen,
where the noise of dishes and cutlery was loud and distracting. "Thanks,
Herb," I said.

"That's all right," he said. "It was at the request of the kitchen staff."

I explained the background of the anthem and then sang all four stanzas.

Let me tell you, those people had never heard it before--or had never really
listened. I got a standing ovation. But it was not me; it was the anthem.

More recently, while conducting a seminar, I told my students the story of
the anthem and sang all four stanzas. Again there was a wild ovation and
prolonged applause. And again, it was the anthem and not me.

So now let me tell you how it came to be written.

In 1812, the United States went to war with Great Britain, primarily over
freedom of the seas. We were in the right. For two years, we held off the
British, even though we were still a rather weak country. Great Britain was
in a life and death struggle with Napoleon. In fact, just as the United
States declared war, Napoleon marched off to invade Russia. If he won, as
everyone expected, he would control Europe, and Great Britain would be
isolated. It was no time for her to be involved in an American war.

At first, our seamen proved better than the British. After we won a battle
on Lake Erie in 1813, the American commander, Oliver Hazard Perry, sent the
message "We have met the enemy and they are ours." However, the weight of
the British navy beat down our ships eventually. New England, hard-hit by a
tightening blockade, threatened secession.

Meanwhile, Napoleon was beaten in Russia and in 1814 was forced to abdicate.
Great Britain now turned its attention to the United States, launching a
three-pronged attack. The northern prong was to come down Lake Cha mplain
toward New York and seize parts of New England. The southern prong was to go
up the Mississippi, take New Orleans and paralyze the west. The central
prong was to head for the mid-Atlantic states and then attack Baltimore, the
greatest port south of New York. If Baltimore was taken, the nation, which
still hugged the Atlantic coast, could be split in two. The fate of the
United States, then, rested to a large extent on the success or failure of
the central prong.

The British reached the American coast, and on August 24, 1814, took
Washington, D. C. Then they moved up the Chesapeake Bay toward Baltimore. On
September 12, they arrived and found 1000 men in Fort McHenry, whose guns
controlled the harbor. If the British wished to take Baltimore, they would
have to take the fort.

On one of the British ships was an aged physician, William Beanes, who had
been arrested in Maryland and brought along as a prisoner. Francis Scott
Key, a lawyer and friend of the physician, had come to the ship to negotiate
his release. The British captain was willing, but the two Americans would
have to wait. It was now the night of September 13, and the bombardment of
Fort McHenry was about to start.

As twilight deepened, Key and Beanes saw the American flag flying over Fort
McHenry. Through the night, they heard bombs bursting and saw the red glare
of rockets. They knew the fort was resisting and the American flag was still
flying. But toward morning the bombardment ceased, and a dread silence fell.
Either Fort McHenry had surrendered and the British flag flew above it, or
the bombardment had failed and the American flag still flew.

As dawn began to brighten the eastern sky, Key and Beanes stared out at the
fort, trying to see which flag flew over it. He and the physician must have
asked each other over and over, "Can you see the flag?"

After it was all finished, Key wrote a four stanza poem telling the events
of the night. Called "The Defence of Fort M'Henry," it was published in
newspapers and swept the nation. Someone noted that the words fit an old
English tune called "To Anacreon in Heaven" --a difficult melody with an
uncomfortably large vocal range. For obvious reasons, Key's work became
known as "The Star Spangled Banner," and in 1931 Congress declared it the
official anthem of the United States.

Now that you know the story, here are the words. Presumably, the old doctor
is speaking. This is what he asks Key

Oh! say, can you see, by the dawn's early light,
W hat so proudly we hailed at the twilight's last gleaming?
Whose broad stripes and bright stars, through the perilous fight,
O'er the ramparts we watched were so gallantly streaming?

And the rocket's red glare, the bombs bursting in air,
Gave proof thro' the night that our flag was still there.
Oh! say, do es that star-spangled banner yet wave,
O'er the land of the free and the home of the brave?

"Ramparts," in case you don't know, are the protective walls or other
elevations that surround a fort. The first stanza asks a question. The
second gives an answer

On the shore, dimly seen thro' the mist of the deep,
Where the foe's haughty host in dread silence reposes,
What is that which the breeze, o'er the towering steep.
As it fitfully blows, half conceals, half discloses?

Now it catches the gleam of the morning's first beam,
In full glory reflected, now shines on the stream
'Tis the star-spangled banner. Oh! long may it wave
O'er the land of the free and the home of the brave!



"The towering steep" is again, the ramparts. The bombardment has failed, and
the British can do nothing more but sail away, their mission a failure.

In the third stanza, I feel Key allows himself to gloat over the American
triumph. In the aftermath of the bombardment, Key probably was in no mood to
act otherwise.

During World War II, when the British were our staunchest allies, this third
stanza was not sung. However, I know it, so here it is

And where is that band who so vauntingly swore
That the havoc of war and the battle's confusion
A home and a country should leave us no more?
Their blood has washed out their foul footstep's pollution.

No refuge could save the hireling and slave
From the terror of flight, or the gloom of the grave,
And the star-spangled banner in triumph doth wave
O'er the land of the free and the home of the brave.



The fourth stanza, a pious hope for the future, should be sung more slowly
than the other three and with even deeper feeling.

Oh! thus be it ever, when freemen shall stand
Between their loved homes and the war's desolation,
Blest with vict'ry and peace, may the Heav'n - rescued land
Praise the Pow 'r that hath made and preserved us a nation.

Then conquer we must, for our cause is just,
And this be our motto--"In God is our trust."
And the star-spangled banner in triumph doth wave
O'er the land of the free and the home of the brave.

I hope you will look at the national anthem with new eyes. Listen to it, the
next time you have a chance, with new ears.

And don't let them ever take it away.

--Isaac Asimov, March 1991

5 commentsNick & Trudy Vandekar • July 30 2007 09:19PM

Seven ideas to help you sell your home.

When it was a strong seller's market, do you remember that, we had countless seminars on how to write an agreement of sale that was attractive to the seller. Well, now we are in a strong buyer's market and what can we do to help our sellers make their home or their counter offer attractive to a buyer. Here are just a few that I have thought of, if you know or think of others let me know.

  1. Before listing your home have it inspected, find out what might be wrong and get it fixed. Make that inspection report available along with receipts for repairs to any potential buyers. A good idea even if you are not selling your home is to get an inspection say every 5-7 years.
  2. Have your home staged, how you live in a home is not how you sell a home. It is not just a matter of clearing clutter but making your home the most attractive home on the market. A small investment can bring big rewards.
  3. Provide a home warranty for 1 or 2 years if your heater and a/c are older, remove the fear of the cost of repairs for the buyer from the equation. there are many home warranty companies and each warranty works slightly differently so investigate or ask your realtor what is best.
  4. Think about paying for the transfer tax for the buyer. It may be only a small concession 1 or 2% but it can add up on top of all the other closing costs.
  5. Closing costs, if the mortgage company allows it the seller can give a seller assist towards closing costs, especially helpful for young couples who may be stretched with rising interest rates and a lack of savings.
  6. Pay down the mortgage to help the buyer with a lower rate and help them have a lower rate.
  7. Price it right to begin with, think about how buyers search and try to be the cheapest in the bracket.

Any other ideas? let us know.

5 commentsNick & Trudy Vandekar • July 24 2007 08:50AM

Weekend Open House traffic still good.

So here we are in the depths of July, many people away on vacation and we are still getting good traffic at Open Houses.  I was again sitting a home we have for sale in Devon and Trudy sat a wonderful farmhouse we have for sale in Glenmoore set on 5 acres. Both have great views for different reasons, the Devon home is nestled between trees close to Jenkins Arboretum and has beautiful views from the deck and the home come the fall the colors are going to be magnificient. The farmhouse just bring to mind how Chester County used to be with rolling farmland and slower pace of life.

Now I admit the Devon home has been drawing more people than the home in Glenmoore consistently, but still we have been surprised by how many buyers are out in the middle of July looking at homes.

What are you finding, how have your Open Houses been going? If you are a buyer are you really finding a surplus of homes on the market?

1 commentNick & Trudy Vandekar • July 23 2007 08:42AM

Less homes coming on the market over the summer

Tuesday is our Broker's Open tour day, here on the Main Line, where as a Realtor you can get to see recently listed homes or those homes that have been on the market for a while and the agent is hoping to re-energise and remind you about. Each area has certain times when homes are open so you can plan your route and catch as many homes as possible. Over the summer these times are not always held to by the agents as there are less Realtors out working or so it seems as I see less agents out and about.

I try to view every home in the Tredyffrin and Easttown townships that comes on the market, whether I have a client for it or not. I try to do the same for Radnor as well so that if a client calls on one of these homes I have seen it. Obviously, having your own listings makes this hard to do on Broker's Open and then I make appointments for myself and my wife to go visit so we have seen the homes.

This week I was surprised by how few homes were on tour, plus how many of those on tour I had already seen before.  I ended up going to see 6 homes, from town homes to multi million dollar homes.

The town home was of particular interest as it was in a development where I recently sold a home in Chesterbrook, priced at $374,900 I thought it seemed a little high, and these thoughts were confirmed when I visited. The home was much smaller than the unit I sold and although it shows very well, it is described as a 3 bedroom unit, which it is not, it has two bedrooms plus an open loft area which can be enclosed to make a third bedroom. The unit I sold had a walk out lower level backing to open space, this had a very small yard, backing up to another unit, mine also had a wonderful large deck that wrapped around the unit as it was also an end unit. So it will be interesting to see what develops with this unit over a slow summer season.

I visited two other homes in Berwyn, one on Potter Ave. which was recently re-listed and has a lot of potential but the location leaves a little to be desired, but some work on re-habbing and curb appeal will go a long way, a low offer on the $349,900 asking price may also be needed. The other home on Midland was a new listing by a friend Linda Theuer from Prudential Fox and Roach, nice street, filled with split levels, priced well at $399,900 for a roomy home but with the summer season the timing may be against it, so price may end up dropping to get it sold.

I moved from here to Wayne visiting an old colleague Linda Lee who had just listed a very nice home on Maple Glen Road for $1,250,000, five bedrooms three and a half baths with a very open floor plan which is the result of remodelling and additions. It felt a little choppy where the dining room has been placed, but overall the home felt well looked after. The bathrooms were still a little tired and probably needed some more work on them as well. However, the home lacked a formal sitting room, which I read more and more is a wasted space as less people want it, but there was a member of the public looking at the home whilst I was there who seemed to feel this was important. I always wonder how often people use their formal living room and how much a great or family room attached to a kitchen.

From Maple Glen I went to visit some new construction town-homes on Exeter, the model was lovely but these homes were priced the same as Maple Glen and had only two bedrooms, possibly three if you used a room on the ground floor as a third bedroom. It felt a lot of money for what it was.

My final home of the day was over on the other end of Tredyffrin on Weadley, the home came on the market at the end of last week and was already under offer. This gives me a moment to discuss the new way our MLS lists homes that are under contract. We have removed the Active with Contract designation and homes are either active or pending. Lots of people are still confused by these different designations but simply put if the home can still be shown it is active, if not it is pending. What is declared is that if it is active but has an offer subject to a contingency this is shown more clearly. So a home is active if the listing has received an offer but it has a home for sale contingency attached, or a home inspection or mortgage contingency. The home showed well in the photos, in reality it seemed a little tired, with bathrooms and kitchen needing some freshening up, but was well priced at $619,000.

0 commentsNick & Trudy Vandekar • July 18 2007 01:03PM

Open House traffic for Sunday July 15

                                      Forest Hills Circle 

We had two homes open to the public yesterday. Both were open from 2-4 PM. I was sitting  a home in Devon, PA that we have have had listed for about 90 days, originally priced at $455,000 it is now priced at $415,000. I had four groups of people through in the first hour with several people taking some time to wander round the house and the almost 1 acre of land. Situated close to Jenkins Arboretum it sits up on a hillside with plenty of trees and shrubs providing shade and privacy with steps down to a flat grassy area for kids to play ball of some sort.The second hour brought just one group through. Overall a good open house with excellent feedback and some good interest in the property.To see photos and a virtual tour go to http://235foresthillscircle.vandekarteam.com.

                         Pottstown Pike 

My wife Trudy sat a lovely property we have listed out in Glenmoore, PA. Five acres of land with a farmhouse dating from the 1880's and a barn and several other related buildings including a spring house and lambing pen, $460,000. Lots of opportunity here for you to make a wonderful retreat in the heart of Chester County yet close to major routes. Although she had only two groups through both showed serious interest in the property and the possibilities for working from home and restoring the barn for use. To see photos and a virtual tour go to http://1460pottstownpike.vandekarteam.com.

We will be having both these properties open again next week end July 22nd from 2-4 PM so if you are interested in seeing either of these porperties for your self we look forward to meeting you then. Agents, we will honor your clients, so give us a call and send them along.

0 commentsNick & Trudy Vandekar • July 16 2007 10:24AM