Archives for June 2013

Sellers – Don’t Give Your Buyers An Easy Way Out!

June 25, 2013 by admin

Maximum Interest Rate On The Contract Should Reflect Current Rates

Interest Rate Limits On The Contract Need To Reflect The Current Rate Environment

Buyer agrees to accept the interest rate as may be committed by the mortgage lender not to exceed a maximum interest rate of XX%

Congratulations seller, you have a contract that has a mortgage contingency clause included, and interest rates has just gone up 1/2 point. Do you know the buyer can terminate the contract if the interest rate quoted by the lender exceeds the maximum rate set forth in the contract?

In the past few weeks rapidly rising interest rates pose some potential stumbling blocks to a successful closing. Listing agents need to be aware of current mortgage rates and their potential upward or downward movements. The maximum rate that is acceptable to the buyer needs to reflect current rates, with some reasonable allowance for upward movement.

A contract today with a ceiling of 3.75%, and rates hovering around 4.5%, could present an easy way out for a buyer looking to get terminate their contract.

Wallingford PA Real Estate – Wallingford, PA 19086

Danjolell Memorial Home Coming To Wallingford, PA

June 20, 2013 by admin

Wallingford PA Real Estate - Wallingford PA = 908 S Providence Road - New Danjolell-Barone Funeral Home

908 South Providence Road – Becoming Danjolell-Barone Memorial Home

The stately property at 908 South Providence Road in Wallingford, PA that once was Brower Funeral Home is to be resurrected as Danjolell-Barone Memorial Home.

The South Providence Road property settled yesterday, and I was pleased to represent the Danjolell’s in this transaction.

Danjolell currently operates three other memorial homes in the area, located in Aston, Frazer, and Broomall. It is anticipated that renovations to the property will be completed by early Fall.

Wallingford PA Real Estate – Wallingford, PA 19086

Painting – A Key Step To Prepare Your Home For Buyers

June 17, 2013 by admin

Anyone who has gone to the local Home Depot or Lowe’s to choose paint colors knows the sky is the limit and there are a boundless number of choices. The task of choosing the right colors -especially if you are putting your house on the market – can be daunting.

Popular advice for home sellers is to choose a neutral white or beige paint color that will appeal to buyers. However, the more important takeaway is to create a calming, warm environment that enables buyers to envision themselves in your home.

Here are some tips for choosing paint colors to help you feel confident in your final decisions:

– Always sample paint colors on a few walls so you can view it from different angles and during different times of day

– For small rooms, choose white, cream, pastels or cool colors tinged with blue or green. These colors reflect light and create the illusion of more space

– Draw attention to a room’s more notable features by using paint to set them out. For example, use white paint on crown mouldings and other trims to create contrast with the wall color

– Likewise, you can hide flaws or unappealing elements such as radiators by painting them the same color as the wall

Wallingford PA Homes – Wallingford, PA 19086

A Picture Perfect Day At Merion For The U.S. Open

June 12, 2013 by admin

Wallingford PA Real Estate - Wallingford PA - U.S. Open Tropny At Merion 18th Green

U.S. Open Trophy On The 18th Hole At Merion On Wednesday

It was a gorgeous day at Merion on Wednesday. The Open trophy was brought out to the 18th hole near the green in the early evening for some promotional shots for British television to cap the day.

Some other scenes from the final day of practice before the tournament begins on Thursday – hopefully!

Wallingford PA Real Estate - wallingford Pa - U.S. Open At Merion - Ernie Els Practicing Putting

Practice Makes Perfect – Two Time Open Champion Ernie Els

Goodyear Blimp Over In A Cloudless Sky OvWallingford PA Real Estate - Wallingford PA -Goodyear Blimp In A cloudless Merion Sky

Goodyear Blimp In A Cloudless Sky Over Merion’s Final Practice Round

View From The 18th Tee Grandstand LokkingLooking At The Famous Merion Quarry In

View From The 18th Tee Grandstand Looking At The Famous Merion Quarry

Wallingford PA Real Estate - Wallingford PA - U.S. Open At Merion - Golf House Road Mailbiox

Wind, Rain, or U.S.Open – Mailbox On Golf House Road Ready For The Postman

Wallingford PA Real Estate - Wallingford PA - Merion Clubhouse - View From The 1st Fairway Crossing

Merion Clubhouse – View From 1st Fairway Crossing

Wallingford PA Real Estate – Wallingford, PA 19086

Sunday Inquirer – Nether Providence Leads The Way?

June 8, 2013 by admin

Reading the front page of last Sunday’s Inquirer regarding the resurging real estate market did you assume that your Nether Providence home was suddenly worth 55% more? This was the increase in the median price of homes sold in the township when comparing the first quarter of 2012 to 2013, as reported in Sunday’s Inquirer.

The percentage increase is indeed true, but if the underlying numbers are analyzed the picture is not quite as bright as portrayed. I contacted Alan J. Heavens of the Inquirer and summarized my analysis:

During the 1st quarter of 2012 there were 6 sales that were recorded at $100,000 or lower with the lowest at $41,500. This group represented 23% of the total quarter’s sales. Traditionally this under $100,000 price range constitutes 2% to3% of the Nether Providence market. On the high side for the 1st quarter of 2012, the highest sale came in at $545,000.

Turning to the 1st quarter of this year, there were no sales under $100,000, but 3 sales that were over $660,000, with the highest at $750,000. Again this was some very unusual activity for a small segment of a market whose core is in the $250,000 to $350,000 price range.

This hyperactivity at the low end in 2012 and the high end in 2013 has led to a skewing of the data. While there are encouraging signs of a recovery, the market needs to exhibit a continued string of performance in key indicators such as selling price to original and last price ratios, and a consistent month over month increase in both average and median selling prices, that so far has been elusive. Buyers are still getting seller concessions on a regular basis – 10 of 19 homes sold in Nether Providence in May 2013 had a seller concession, which indicates to me that buyer are still in control.

Mr. Heavens did respond to my Email with “The decision to use the data in that way was not mine, nor, as is usual, were my objections heeded.”

I appreciate his objectivity.

Wallingford PA Real Estate – Wallingford, PA 19086

Archives for June 2013

S. Clark Kendus