Main Line Homes Blog

Just finished reading a commentary on a survey  on the new HVCC from NAR. As I blogged recently in Why are Appraisal firms using appraisers from way out of the Area we have had two appraisal issues in the last week. I also heard from agents whilst out this week that they are having problems, so the issue is current right here in Pennsylvania with appraisers from out of the area being used and not understanding the development, the homes or the pricing in the area.

So rather than improving the appraisal situation from the commentary the survey implies the situation is worse, with longer delays, and lower quality and higher prices for consumers.

As I said in my last piece when appraisers cannot even get the square feet of a property right and compare same models and attribute different sizes there is a problem with the quality of people being used.

So what have you been finding with your deals recently?

New video of our listing in Daylesford Lake of a great end unit on a quiet street, beautiful upgraded kitchen, and lots of room. Priced aggresively at $459,000 with 3 bedrooms, 3 1/2 baths and 3 car garage. Want to live in award winning T/E schools close to Paoli station and minutes from King of Prussia Mall and Valley Forge Park.

I have had a web site for a long time and one of the main features I looked for was the ability to post multiple photos. It seems odd to say that now but our own MLS has only recently allowed us to post more than six photos, now we can post twelve and still agents only post six or even less.

My buyers want to see photos, they skip properties with no photos, they ask why aren't there any photos, sometimes it is because the property has a tenant and it is hard to get in to photograph or it is messy, but some photos are better than none.

My personal bug bear is short sales with one or no photo and no description. These people are already in problems and the agent has not the courtesy to at least post multiple photos and give the home its best chance to sell. Often it is not a matter of the home being in bad repair but something else, obviously not professionalism or doing a good job for their client.

The next bug bear is snow in the middle of summer, how long does it take to go and update your photos now the sun is out. Again help your client by making their home show in its best light.

This leads me to a third point descriptions of homes that have been on the market for three months or more that state, "Won't last" or worse "Seller will review all offers by such and such a date" and is is four months past that date. Why do these sellers still have their homes listed with these clowns who do not update the descriptions.

Last week we needed to go up to Lowes at Oaks and as it was a great weekend weather wise and it was our wedding anniversary we decided to find somewhere for breakfast on the way. We wanted somewhere different and a little funky. As Phoenixville could be on our way if we took backroads we thought we might find somewhere good to eat.

We drove up over the hills and coming along Whitehorse Road to the junction with Route 23 I spy the Bookend Cafe out of the corner of my eye and through the buildings from the junction. I point it out to Trudy and she says looks great lets give it a try. So we pulled into the parking lot and liked what we saw.

The food was great, and good enough that I went back this week with two of my sons for lunch and found out a little more. It has been open since November last year and the chef is the owner. He has cooked in Exton at the Brickside Grill I think and left to open a restaurant with a friend when that fell through he relaized that he wanted his own place and settled on Phoenixville where he lives and I believe grew up.

Well he is doing a great job. The tables don't match, there are books to read if you have the time, newspapers for shorter visits, serve yourself coffee and other drinks in the fridge. The food is filling and well cooked and generous. My daughter in law to be, had pancakes and could not finish them and we all were impressed with their size and how moist and fluffy they were. Can recommend the breakfast sandwich, the Reuben, the Italian, Quiche of the day, and the cookies and brownies look great but have not tried them. Coffee tastes good as well.

They also have wireless internet, if you want to get out of the office, but still need to work. What we liked is people talk to each other and there is a really nice atmosphere. The blackboard has the specials of the day. great place to try if you need breakfast or lunch, only open till 3 PM. Did I say it has also been on NBC 10 for lunch place of the day.

I asked a friend Deborah Bettcher of Interiors by Decorating Den to write some blog entries for me on decorating trends. Deborah thanks, great article. You can reach her at her studio:610.964.8403 for a consultation.

Sit by a bare window on a sunny day, and you'll feel the sun's warmth.  Sit by that same window on a cold, windy night, and you'll feel chilled to the bone!  With today's economic concerns, smart homeowners are continually searching for ways to cut expenses and save on their monthly energy bills. 

Naturally, the best place to start is to be sure our homes are well insulated.  But all too often, while overall home insulation is a priority, windows seems to be neglected.  No matter what your climate, bare windows are a primary spot for energy escape.  In cold climates, heat naturally moves toward the cold to escape.  And in warmer areas, outdoor heat moves toward the windows of our air conditioned homes.

Since windows make up 20% of a typical homes exterior, and 40% of contemporary home construction, numerous large uncovered windows can break your energy budget.  This is especially true when these windows face a cold northern exposure in the winter or a sun-saturated west wall in summer.

It's important to know that many window treatment products have actually been assigned an R-Value.  Building materials are assigned R-Values according to each product's ability to resist heat movement.  The higher the R-Value, the better it insulates your home.  Most windows have an R-value of 0.9 to 3.0, and can be responsible for 40 - 70% of heat or cold transfer for an entire home. 

Using multiple layers at your windows, including cellular constructed treatments, can actually increase an R-value by 1 to nearly 5 points!

So let's look at a variety of window treatment options to help you create cozy room, and cut energy costs at the same time.  What could be more perfect!

Duette® Honeycomb Shades:  These soft, elegant looking shades actually increase energy values at the window by 25 to 175%, depending upon single, double, or triple thickness in the air-trapping construction.  Available in nearly 300 colors, and a variety of styles, the R-value for Duette's® can reach as high as 4.8 for the triple honeycomb shade.  They're durable, easy to clean, mildew resistant, and require little to no maintenance.

Vertical Blinds:  Available in hundreds of colors, textures and embossed patterns, vertical blinds can increase window insulation by 37 to 123% AND block 95-99% of ultraviolet light.  R-Values reach as high as 3.92 for vertical blinds when closed over double glazed glass.

Vignette Shades:  These beautiful shades feature the gentle look of a fine drapery, but are made of generously contoured folds of rich fabrics.  They provide a 49% increase in window insulation value and can block 99% of UV light.  They boast an R-value of 2.63 when closed over double-glazed glass, and are available in over a hundred fabric/color options.

Because there are numerous shade options available on the market today, here are three questions you should answer before making your specific product selection:  Do you need special insulation protection?  Which direction does most of your windows face - sun or shade?  What treatment/product will work best with the rest of your room's design direction? 

Most importantly, talk to a professional decorator!  They not only have a vast store of knowledge on which product would work best for your individual situation, but they'll be able to add that all important decorative element to your overall window treatment design.

I was asked by a friend to give a short talk last night at a seminar on downsizing and one of the things he wanted me to touch on specifically was trends in the market,

So turning to Trend I pulled up the most recent statistics for Chester County as most of the attendees if not all were from Chester County. Average price of homes has dropped about $20,000 between the last quarter of '08 and first quarter of '09. There were 470 more homes on the market and this number is expected to increase. Number of homes that sold in the quarter was down by 150 about 16.5%,not surprisingly days on market increased by 13 to 96.

Comparing year to date sales to the end of April for the last three years was again an overwhelming negative view of the market settled units compared to 2007 are down by 40%, average settled price is down by $50,000, median settled price is down also by $29,000, settled volume is down by 48%, with sold price being 91.32% of the asking price. Now this last number is always a little skewed as realtors relist to keep their selling price to listing price high so they do not appear to not know how to price homes correctly, something our MLS has not sorted out yet although days on market is now an accurate number if you look at marketing period.

Whilst this news is overwhlemingly negative there are some positive points, homes are still selling, mortgages are available, mainly to those who truly qualify, another post on this will follow and when priced right and marketed correctly you can get a home sold well within the days on market number shown in the statistics. So don't despair just make sure you use a realtor who is tech savvy, understand internet marketing as more than 84% of buyers are now searching on line before and even whilst using a realtor.

For example we had a customer call about one of our listings because his wife found it on the internet, their agent, who is a good agent said she had shown them all the properties in that development but had missed it in the MLS, they were about to make an offer and wanted to see the home, which we were able to set up for them with their agent that day although there was 24 hour notice. Now let's hope they will like it enough to make an offer.

I recently attended an orientation meeting at our local Regus office complex and hosted a breakfast there for people who might be looking for homes.

What I like about the local office located in Berwyn on route 252 is the offices are modern, well laid out with everything you might need. Plus they have options that if you need to travel on business give you access to offices worldwide. They have a host of office sizes and the most modern data services you might need, you can bring your own copier or use their state of the art model. All in all it is a good deal when you are looking to start a business and need space that looks professional and also gets you out of the office. There are no long term commitments and they are flexible as you grow to adapt to your needs.

If you are inteested in setting up an appointment give me a call and I can make the introductions. Locally they have space in Berwyn, King of Prussia and Conshohocken, each location has their own feel and design and one may appeal to your more than another. I like the Berwyn office but that may be because I am European and the modern design is what I like personally.

We just listed a 2 bed 2 bath inner courtyard 2nd story condo at Old Forge Crossing in Devon. Just steps from parking but with nice views into the courtyard this home has updated baths with ceramic tile to the ceilings, new sinks and toilets they look and feel like a luxury condominium, the kitchen has also been updated with new cabinets and stainless steel appliances. Don't forget the condo fees include pool and tennis fees, plus gas for the dryer, hot water and cooking. But why don't you just watch the video and see for yourself what great value this is for a wonderful location.  

More details available at http://271oldforgecrossing.oldforgecrossing.com.

With Title Insurance being one of the highest in the nation and making a large part of buyers closing costs as well as those refinancing, this week the Pennsylvania Insurance Commission held a hearing to discuss possible reduction of title insurance rates in Pennsylvania.

Prompted by a February 2009 rate increase request filed by the Title Insurance Rating Bureau of Pennsylvania, which the Attorney General's Office opposed the Commission met to discuss the issue. Pennsylvania consumers paid nearly $585 million in title insurance premiums last year, but Corbett the Attorney General pointed out that the majority of those premiums - up to 85% - were paid as commissions to title insurance agents.

Attorney General Tom Corbett urged the Commission to reduce the rates, which are some of the highest in the country and to closely review other proposed changes to improve competition and benefit consumers who are purchasing or refinancing homes. He also reported that companies were competing to pay increasing commission rates to agents who guide the purchase of title insurance policies in Pennsylvania.

In the past, the Department has used the Title Insurance Rating Bureau to conduct reviews, which places this industry-controlled board in direct conflict with its agents across the state. Corbett encouraged the Insurance Department to use independent analysts for any review of the current title insurance system.

When did you last purchase Title Insurance? Were most of your closing costs for your purchase or refinance derived from the cost of Title insurance?