Swarthmore PA – Page 4

New Listing – 435 Drew Avenue – Swarthmore PA

April 26, 2015 by admin

435 Drew Avenue – Swarthmore PA

435 Drew Avenue – Swarthmore, PA 19081

This tastefully decorated 4 bedroom 1.5 bath colonial home is in move-in condition and has an excellent location on a quiet cul-de-sac

Kitchen

Beautiful hardwood floors, central air, updated kitchen with new granite countertops, recessed lights and breakfast bar!

Dining Room

Living Room With Fireplace

Enjoy the morning sun and your coffee on the spacious screened porch or dine on the slate patio.

Screened Porch

If you have any questions or would like to schedule a visit to this fine home click here to contact me.

Swarthmore Real Estate – Swarthmore, PA 19081

It’s Springtime In Swarthmore

April 26, 2015 by admin

Spring has come hesitantly this year, but finally hit full stride last week. Some seasonal images from around town.

Cherry Border – Scott Arboretum

Cherry Border – Pretty In Pink

Blooms Along Yale Avenue

Swarthmore College

Swarthmore Borough Hall

Swarthmore Real Estate – Swarthmore, PA 19081

Open House – 410 Park Avenue – Swarthmore PA – April 12 From 1 To 3

April 10, 2015 by admin

410 Park Avenue – Swarthmore PA

410 Park Avenue – Swarthmore, PA 19081

Open House – Sunday April 12, 2015 From 1 To 3

As you enter the center hall a grand staircase welcomes you to this absolutely charming home built in the 1920’s… Large windows make it bright and cheery. The huge living room has a fireplace with a wood burning insert which keeps it toasty inside during these cold days.

Living Room With Wood Burning Fireplace

The kitchen boasts cherry cabinets and granite counter tops with an entrance to a tranquil screened porch

Updated Kitchen

A dining room that has plenty of room for entertaining your guests.

Dining Room

410 Park also has a bonus room on the second floor for an office or a nursery and a detached 2 car garage.

Wallingford PA Real Estate – Wallingford, PA 19086

New Listing – 940 Harvard Avenue – Swarthmore PA

March 27, 2015 by admin

940 Harvard Avenue – Swarthmore, PA 19081

JUST LISTED By D. Patrick Welsh

OPEN HOUSE – Sunday March, 29, 2015 – 1 To 3

Enjoy this charming Tudor nestled in an amazingly special location in the borough. The peaceful views are abundant and the current owners enjoy this bird watcher’s paradise. From the minute you enter this treasure and see the Brazilian cherry floors you will be pleased with all of the upgrades combined with the original character. The large living room invites warm gatherings around the stone fireplace. The dining room has a lovely bow window overlooking the woods which makes extra space for entertaining.

The renovated eat-in kitchen comes complete with granite countertops, Bosch dishwasher and cork floors. There is a cozy den/office, a screened porch and a large mudroom/laundry room with slate floors that complete the first floor. The upper floor greets you with an amazing office which provides a spectacular panoramic view of the secluded back yard. The master bedroom has two closets. Relax in the expanded and luxurious new hall bath. Two additional bedrooms complete the upper level.

This cozy retreat is located just blocks from the center of the borough and Swarthmore College. Recent upgrades include: new roof and gutters on house and garage, renovated kitchen and full bath, 200 amp electric, new heater and air conditioning and new wood electric garage door.

Interested in taking a look, need some further information – Click here to contact me .

Swarthmore Real Estate – Swarthmore, PA 19081

Gift Funds – Rules To Follow

March 4, 2015 by admin

Follow The Rules When Using Gift Money

The National Association Of Realtors (NAR) reported in a 2012 home buyer survey that 24% of buyers utilized gift funds to help them purchase their home. If you are considering using gift funds in your purchase transaction there are some rules that must be followed in order for the funds to pass an underwriter’s scrutiny.

There are several guidelines that that need to be followed in order to properly process and deposit gift funds in your bank account for your purchase.

Complete a gift letter that will be supplied by your lender which must include the following:

– The amount of the gift

– Address of the property being purchased

– The relationship of the giver to the gift recipient – the donor must be a family member

– Wording that states that the gift is indeed a gift and that the funds are not a loan to be repaid

– Date the funds were transferred

– Signatures of donor and recipient

Create a paper trail of the money

– Deposit the funds into an account that will be used as the source of all funds for the transaction

– Keep all deposit receipts associated with the gift fund deposit

– Donor will need to show ability to produce the funds via bank account statements, etc.

– Donor will need to show the money has come out of their account, i.e. cancelled check

– Recipient will need to document the funds coming into their account, the funds that are deposited must match the amount specified in the gift letter exactly via account statements

Failure to adhere to the rules of gifting could result in the denial of your loan. Above all underwriters are interested in a detailed tracking of the funds from donor account to recipient’s account.

Rules for gifts vary by loan type:

Conventional Mortgages

– If you put down 20% or more, it can all be from a gift

– If you put down less than 20%, part of the money can be a gift, but part must come from your own funds. This minimum contribution varies by loan type

– Gift money can only be used on primary residences and second homes

FHA and VA Mortgages

– All of your down payment can be gift money

– If your credit score is below 620, at least 3.5% of your down payment must be your own money

– Gift money can only be used on primary residences

Wallingford PA Real Estate – Wallingford, PA 19086

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435 Drew Avenue – Swarthmore, PA 19081

410 Park Avenue – Swarthmore, PA 19081

Open House – Sunday April 12, 2015 From 1 To 3

940 Harvard Avenue – Swarthmore, PA 19081

FHA and VA Mortgages

S. Clark Kendus