Main Line Homes Blog

I was on my way to the local mall a few days ago and cut down a street I normally take and was amazed at an enormous FOR SALE sign in the front yard of a home in our neighborhood. We live just outside Philadelphia in Berwyn and our house prices whilst they have levelled a little have not collapsed as some markets and compared to other areas of the country our prices are quite strong. We are talking about a home priced at $585,000.

As you come along the road, do you see the mailbox in the background?

So I realize it is for sale, the phone number is still small, and you know there is no website mentioned who is this sign for, the broker or the house?

What struck me was the size of the yard sign, most agents simply place a typical push in the ground sign with their contact details on it, if the house warrants it or some agents out of preference will use a hanging sign placed by a company, these are one piece of wood with a hanging sign from the top. But this home has what amounts to a billboard in their front yard. Two pices of wood supporting a large sign between them.

This home recently was on the mareket for a mater of days priced at $925,000. can you the sign?

So what is the correct size for a yard sign?

Recently I have noticed that our local code enforcement officers have been pretty relaxed about directional for sale and open house signs. In the past this has been the case till someone in the township complains when an overzealous real estate agent has plastered them everywhere and not removed them even weeks after the sale. I can only believe that this relaxed attitude has been because of the state of the housing market and a feeling of compassion upon neighbors and those needing to sell their homes in this market.

What are you finding in your market and why if there is a change do you think it is happening?

Frankly, I think Open House signs should be taken down after an Open House is finished, it actually damages everyones chances of getting drive by visitors if you leave them out all week because no one knows if the pen House is active unless of course you add balloons. Why do agents not remove their signs? Is it because they cannot remember where they put them, or they just don't care about littering a neighborhood with signs?

What about directional signs? I think a limited number should be allowed, but if the rule is that no directionals are allowed then this rule should apply to everyone, agents and FSBO's as well.

Chesterbrook is a 28 year old development that is well liked in our area, for more information go to Homes in Chesterbrook on our website for information about developments, shops, restaurants, the Valley Forge Suites Hotel and offices that all make up Chesterbrook.

Chesterbrook has for a while tried to obtain it's own zip code. I don't know what is happening with that right now. Currently it is part of Wayne, which is weird as Wayne is in Delaware County and Chesterbrook is in Chester County, Wayne is Radnor Township and Chesterbrook is Tredyffrin, even the school district is different. Having a new zip code would help solve the confusion in my opinion, what do you think?

I was reading an entry on Realty Times this morning that related to a topic that came up in a seminar we hosted a couple of weeks ago on 1031 exchanges. I found the title interesting "What to look for in a 1031 Exchange Facilitator but the content lacking or unclear.

So here are some points that I jotted down from our seminar.

1) Ask how many transactions the company carries out a week, a month etc?

2) How big is the company you are dealing with, how many signatures are needed for a transaction, is the money guarenteed, how safe in other words is your money?

3) Is the facilitator a member of any organization or carry any designation, such as Certified Exchange Specialist?

4) Can they easily and simply explain the rules of a 1031 exchange to you and how are they going to make sure you abide by the deadlines? Do you have legal staff on hand?

5) Can they carry out exchanges in all 50 states or at least in the sates that may affect you? One of the main reasons for using a 1031 is to invest in property close to where you live; if you are thinking of moving states you want a company that can handle the transaction simply and easily in both states.

What does not seem so important, but you should know is how much are they charging you? Most transactions can be completed for under a $1,000, often for about $750. Considering how much taxes you are going to be saving this is a relatively small sum.

If you have any further questions please call or email me.