True Main Line Luxury at its finest!

 

 

 

 

 

 

 

Easttown Township (T/E Schools) and walk to Berwyn!
Spectacular Doug Hartz, custom home professionally decorated & exquisitely detailed throughout. Highest quality amenities. This 5 bedroom, 4.3 bath home features bright gourmet kitchen w/granite counters, island w/seating, Thermadore stove, Bosch double ovens & dishwasher, large separate breakfast room w/tray ceiling; family room includes fireplace w/marble surround; dining room features custom wall moldings. Hardwood floors throughout first floor. Master bedroom suite-tray ceiling, sitting room, 2 large walk-in closets w/drawers & cabinets; bath w/whirlpool tub, skylights & granite double sinks. 2nd bedroom w/ full bath. 3rd & 4th bedrooms w/”Jack & Jill” baths. 5th bedroom/bonus room w/full bath. Laundry room w/sink. Lower level with superior entertaining area includes 2 wine fridges, one beer fridge, dishwasher and serpentine stone counters. Salt water pool and spa w/stone fireplace. The finest of everything on a picture perfect, incredibly private lot walking distance to Berwyn! A truly amazing property!  $1,699,000

UPDATE: 45 Westhorpe Lane SOLD

Stately, Classic Front Elevation

45 Westhorpe Lane:

In sought after Sunwood Farm this 4 Bedrooms, 3 Full Bath,  home is situated on over an acre of lush specimen landscaping.  Many unique features and upgrades.  Kitchen with granite counters.  Please come visit this beautiful home.  Competitively priced at $549,900!

Newtown Rd., Berwyn, Penna.

Newtown Road
Berwyn, Penna. 19312

French Rd., Newtown Square, Penna.  19073

French Road
Newtown Square, Penna. 19073

 

The Chester County Planning Commission has created an interactive website that details the data compiled as part of their Comprehensive Policy Plan of the Landscapes 2 Project.  Two great features of the site are the Interactive Map and the Community Profiles.

The Interactive Map displays Chester County with outlines of all municipalities.  The map can be “overlaid” with different features based primarily on population density and resources.  I particularly like the inclusion of municipal boundaries.  Most available “internet” maps do not include these boundaries.  Here is a “screen shot” of the “Interactive Map.”

Interactive Map of Chester County with municipal boundaries such as: Easttown, Charlestown, West Chester Chester Borough, et al.

Chester County Landscapes 2 Interactive Map

The “Community Profiles” page is even more powerful.  For the project the county was divided into six “communities.”  (Eastern, Northern, Central, etc.)  The data of the report can be mapped by these “communities” or by individual municipality or school district.  It’s incredibly powerful:  demographics, schools, libraries, parks, public transportation, fire stations, police stations, rail lines, nursing homes, and traffic volume are just some of the items which are available.  Just check the box in the lower left corner and it will overlay all the facilities in whichever region you’ve chosen.  Then just click on the icon for each one to see all the details.  It even outlines the boundaries for the district courts!

Community profiles map of the Chester County Planning Commision.

Community Profiles Map displaying District Court Boundaries.

All the demographic data for the county is available too.  It’s a fountainhead of information about Chester County.  Give it a try today!

It looks like Tony Chennault, the Wake Forrest gaurd has applied to the NCAA for a hardship to transfer to Villanova.  Here’s the link from the Philadelphia Daily News:

http://www.philly.com/philly/blogs/phillyhoops/148444795.html

Alan J. Heavens' excellent analysis in the Philadelphia Inquirer 2/12/12

Alan J. Heavens' excellent analysis in the Philadelphia Inquirer 2/12/12

I’m finally scanning some of the pieces I’ve saved from the Inquirer.  Alan J. Heavens has written the real estate column for years in the Philadelphia Inquirer.  This column really stands out.  It is unusual for any writer in a large paper to be this transparent, “The Obama Administration’s record bringing this situation under control is abysmal.”

Get that?  Read it again:  “ABYSMAL.”   Heavens goes so far as to accuse Obama of using the real estate market as “election year posturing” in his (now mostly forgotten) State of the Union address.  The President’s latest proposal is to allow loans not owned by FNMA or FHLMC to be refinanced by the FHA.  Heavens describes (with generous sourcing) why this will not work.  Heavens makes some suggestions of what will work.

 

In the latest issue of Business Insider Steve McLinden has some suggestions for sellers.  The author doesn’t tell us if they’re in order of priority but first on the list is “Price it right from the get-go.”  Truer words have never been written! McLinden writes:  “Consider that of the homes that took four months or more to sell in the past year, almost half of their owners accepted less than 90 percent of the asking price.”  I would go even further and say that once a property is overpriced it becomes stigmatized.  Agents know it’s overpriced.  Buyers know it’s overpriced.  And when the seller finally realizes it’s overpriced it’s too late.  Even with a drastic price reduction it will be difficult to get agents and buyers to see it.

One of McLinden’s suggestions I disagree with vehemently.  It’s way down the list; and I don’t know what he’s using as a reference for it.  But in  “Be your own spokesperson” it becomes obvious that he’s never been on a showing with a buyer where the seller was there.  Buyers are ALWAYS put-off by a seller showing their own home.  And I have never– in 17 years of real estate– been able to sell a property where the seller tried to show it.

Several examples of seller-showing disasters come to mind.  First a little background:   Buyers have many properties to see.  Time is always limited.   So I’m with a buyer and we’re scheduled to see about a dozen properties.  Immediately buyers know that if a seller is there it will be a waste of time–so they’re not listening.   So we enter the home and we’re going downstairs and the seller is leading us to the hot water heater–not something that a buyer needs to see immediately.  In the 21st century it can be assumed that most properties in our area have hot water.  But then the seller tells us that it’s “brand new.”  Sure enough it’s clean and modern.  But the installation tag is from three years ago.  That’s not “brand new” in a buyer’s mind.  We didn’t even go up to the second floor.

In another example with a different buyer the seller met us at the door and started “chatting us up.”  I actually had to tell them that we had many, many properties to see and we’d really just like to view the house.  So the seller leads us upstairs with a yardstick and proceeds to measure the “extra deep” closets for the buyers.  Again–buyers will make their own decision about what is a priority for them.  We actually were late for another appointment and walked out without even seeing the kitchen.

Sellers hire a professional to sell their house by listing it.  Leave the selling to the professionals.  If a seller must be home for a showing, best to leave the showing agent to do their job.  They know their buyer and their buyer’s priorities better than the seller ever will.

“12 Ways To Sell Your House”Business Insider

Sen. John Sununu's excellent analysis

In this piece published last Friday, former Senator John E. Sununu recounts his meeting with FNMA executives Dan Mudd and Richard Syron.  Five years ago Sen. Sununu confronted them about lending standards and other issues with FNMA.  “They didn’t want to hear it.” and “they had clearly embraced a business model that socialized potential losses while providing private returns.”

And this is exactly why we are all hurting right now:  the “socialized losses.”  The “Readers Digest” version goes something like this:  Political pressure to reduce lending standards leads to excess lending.  Regulators that recognized the problem were marginalized.  Lenders continued to lend to those that could never repay and investors in those loans believed their investments were sound.  Housing prices soared on the increased demand.   Sub-prime borrowers (as they often do) defaulted.  Private investors (who carried all the risk) lose their investment.  Housing prices plummet on excess supply AND the unavailability of funds because of increased fear on the part of lenders.

At least prosecuting Mudd and Syron may begin to place some punishment on those that were responsible.  And at the same time heal the market.

The Wall Street Journal‘s third quarter survey of housing market conditions reveals what most agents already know:  home prices are down.   That makes it a great time to buy!  Further, The Wall Street Journal reports:   “monthly mortgage payments on the median priced home—including taxes and insurance—are lower than the average rent levels in 12 metro areas.”  That means that if you’re thinking of signing another lease–don’t.  Just yet anyway.  At least take a look at what you can afford.  It’s a great time to see properties because sellers that are on the market this time of year are anxious to have their properties shown.  And they may be more willing to negotiate.  The results of the survey are revealing.  Read the entire article here:

Stronger Lure for Prospective Home Buyers

 

 

While I can’t speak for other agents, today is a regular work day for me.  Drop off a 2nd deposit check to a listing agent; review 5407 documents for an upcoming transaction;  review CMA details for an upcoming listing.  But a brief  look at today’s headlines would suggest that more than a few Americans need to get their priorities straight.

Of a woman using pepper spray at a California Walmart, Lieutenant Parga said, “Somehow she was trying to use it to gain an upper-hand.”  She was trying to keep other shoppers away from merchandise she coveted.   Hmm–definitely a well grounded individual with their priorities straight.

Woman Pepper Sprays Walmart

But this following one is my favorite.  Now–I’m not sure about you–but I have at least three waffle irons.  One from each grandmother as they became too elderly to make waffles.  And another one from a great aunt.  I haven’t used them in years but they’re in a box either in the attic or the barn.  Also,  every garage sale I’ve ever attended has at least one waffle iron for $1.00.  So I’d say that the United States is probably oversupplied with waffle irons.  And from the video here it is pretty clear that most of these shoppers don’t need any more waffles.  So– too many waffle irons plus too many waffles and this is what you get:

Melee over $2.00 waffle irons

Have a great day whatever you’re doing today!