nick vandekar: How Professional Photography Sells Homes Faster
- 02/18/25 06:31 AM
Main Line and Chester County sellers looking to sell their homes are finding that professional photography sells their homes faster. As I was preparing to write this post, I wanted to use some non-professional photos, but I have been using a professional photographer for so long I actually could not find any in my files. A professional photographer can offer so many different benefits, from perfect balanced photos, 3D photo tours, drone photography that shows the setting of the home and even real video. Obviously using a professional photographer to provide the list of options above takes time and costs money. But, as
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nick vandekar: What sellers need to know - The risks of overpricing your home!
- 02/17/25 09:03 AM
Overpricing your home can result in it not selling! Then you need to keep reducing the price and you end up in a spiral following the market down. For many years it has been a strong sellers market, with low interest rates and strong demand, sellers have seen multiple offers over asking. But while there is still a problem with low inventory, buyers are being hampered by strong interest rates compared to the last few years. Interest rates are now hovering between 6.5 and 7% and with inflation rising again they may not be dropping for sometime. High interest rates affect what buyers
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nick vandekar: What happens to my earnest money deposit?
- 02/13/25 11:47 AM
When you buy a home it is common to make a deposit with your offer. This is called an earnest money deposit and it shows the sellers you are serious about buying their home. The amount varies by locality, in our area there are often two deposits, one with the agreement of sale, the offer, and a second after the inspection contingencies are completed. The total deposit used to amount to 10% of the purchase price, but with the rise in home prices 5% is more common nowadays. Sometimes if a quick settlement is offered there may only be one deposit. In Pennsylvania
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nick vandekar: Why it matters where you live!
- 01/30/25 12:56 PM
There are many things to consider when buying a home and deciding on your "Must Haves and Deal Breakers". But before you consider these it is important to consider where you want to live and this post is going to consider why that is important. Most buyers have their list and they know in the current low inventory market they need to be flexible. And while there may be certain things driving where they want to live there are also a host of intangibles which they may not have considered deeply enough. A young family looking for a home may want to live
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nick vandekar: Pricing your home right!
- 01/30/25 12:20 PM
Pricing a home for sale is a science and an art.Finding the right price for a home when listing it is important, overprice it and you may not get any showings. It is very true, buyers look at homes online first and most buyers are savvy enough to know when a home is overpriced as in this low inventory market they may have looked at and made offers on several homes already. Price it too low and buyers may wonder what is wrong with the house. As a seller, you may be thinking I want to use the agent who gives me the
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nick vandekar: How to Make Your Home Irresistible
- 01/30/25 11:53 AM
Did you know a well staged home can sell faster and for more money? Here's how to make your home irresistible to buyers! Staging a home for sale is not about creating a theatre set, but to allow the buyers to see themselves living in the home. If there is too much personal clutter buyers cannot see past that and get distracted by photos, kids toys, etc. Here are some home staging tips for selling your home fast. Here are some key statistics on how home staging helps properties sell faster and for more money: Homes that are staged sell 3x faster –
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nick vandekar: Why is an appraiser coming to my house?
- 01/29/25 12:12 PM
Many sellers are unaware of the process of selling a home completely as they do it just a few times in their lives with long times in between each sale. And things are not always the same depending on what state you live in. I wrote a post about appraisals from the buyer's perspective and you can read "Why do I need an appraisal?" here. This post is from the seller's perspective. When your home goes under contract there are many different steps that take place. As part of the agreement between buyer and seller in Pennsylvania, there is an understanding that
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nick vandekar: Video Introducing Mike Storti of Foxtrot Mortgage
- 01/29/25 09:58 AM
I had the opportunity today to sit down with Mike Storti of Foxtrot Mortgage, we discussed interest rates, buyer assistance programs, and Second Look, a program Foxtrot has been running for a couple of years where they will check the rates and fees being offered to a buyer to make sure they are the best available. They have saved buyers literally thousands in fees and interest over the length of the loan. Check out the video. I help buyers and sellers along and around the Main Line and Chester County. I have lived in the area for over 30 years. If you
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nick vandekar: Why do I need an appraisal?
- 01/28/25 12:32 PM
If you are buying a home with a mortgage the bank will want an appraisal carried out. The buyer pays for this and since the 2008 housing crash these are arranged through a third party management company that finds the appraiser and orders the appraisal so that the appraisal is unbiased and independent. It is usually ordered after the buyer and seller have signed an agreement of sale and the buyer has finalized applying for a mortgage. The mortgage provider will place the order for the appraisal. An appraisal is a snapshot of value on a certain day, using past sales created by
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nick vandekar: Video Market Report for the Main Line and Surrounding Counties
- 01/17/25 07:35 AM
The Main Line outside Philadelphia lies within the boundaries of three counties, Montgomery, Delaware and Chester County. Each county is much larger than just the Main Line parts, so the market reports refer to the actual county, not just the Main Line area. The video below shares the statistics with the numbers below the video for those who prefer to see things in black and white. Montgomery County is closest to the city, there are currently 975 listings in the county that is up from 860 in January 2024. Median list price has fallen from $524,945 to $515,000, the average list price
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nick vandekar: 2025 Planning - Now what...
- 01/16/25 07:49 AM
"The garden of the world has no limits, except in your mind." RumiSo you have finished your plan, you have it printed out, now what....? If you just put your plan on a shelf, nothing is going to change. A plan is about taking action, believing in yourself and that your plan will bring changes into your life for the better. As the quote above encourages do not let your mind limit what might happen. So, now you have a plan and you need to start taking action, but as you take action you also need to consider what you want to happen
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nick vandekar: How do I know if this is the right time to jump in?
- 01/13/25 12:12 PM
There are lots of things to consider when buying a home, for the first time or if this is a resale and move up or down. Market Conditions Interest Rates Buyer's market or Seller's Market Family dynamics Job demand People often ask me, is this the right time to buy? My answer is usually along the following lines: Why are you thinking of moving? The answer to that question is really the answer to whether this is the right time to buy or move. If you have situations that require a move then this is the right time. Maybe a divorce, or a
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nick vandekar: Should I buy a Fixer-upper or a Move-in-Ready home?
- 01/09/25 07:50 AM
In a recent survey, December 2024, our local MLS, Bright MLS found the following results regarding what buyers are looking for in a home. More than half (56.1%) said that it was “very important” to buy a home that was move-in ready, with no repairs or major improvements needed. Another 37.8% said that buying a home that was in move-in-ready condition was “somewhat important” to them. As many home buyers know you may have to compromise on what you are looking for with the extremely low inventory of homes for sale. The survey found the following results when asked about what buyers would compromise
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nick vandekar: What, that wasn't included in the sale of the home?
- 01/06/25 09:21 AM
Things vary from state to state, and it is never good to presume something is included if it is not in writing. You do not suddenly want to have to find the money for something you thought was included. As you can see in this photo below from a Pennsylvania agreement of sale, a lot of things are included, but some things are not. In the agreement below we added the refrigerator. In some countries, especially in Europe, kitchens are not included and owners remove all the cabinets and reuse them in the next home. Can you imagine turning up to find
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nick vandekar: Planning for 2025 Part 2
- 01/06/25 08:53 AM
In Part 1 I laid out some of my planning for 2025, and my general goals for 2025 in light of 2024. Now I am going to drill down a little deeper. So, I have some general goals relating to blog posts, newsletters, videos and social media posts. This week I am focusing on how I set those up so I can stick to a plan and achieve those goals. Doing that hopefully will allow me to reach the financial goals I want and thus the travel goals we have for this year. Firstly, I look at the month and develop a monthly plan,
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nick vandekar: What if you have no credit or bad credit?
- 01/03/25 11:47 AM
Many people want to buy a home, but the thought that they have bad credit or when younger or new to the country no credit makes them believe they cannot purchase a home. The answer is that there are many options for low credit score buyers, and secondly that it may take some time, but it is not hard to improve or create a credit score. You also should know the score you find online, via Credit Karma or your credit card company or bank is not the score used to offer you a loan. There are multiple different scoring models, so
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nick vandekar: Planning for 2025 Part 1
- 01/03/25 11:08 AM
My planning for 2025 began a couple of months ago as I looked back over 2024 and planned for 2025. To make a plan you need to know where you are to begin with, which is why it was important to consider 2024 first. After doing that I considered my goals for 2025 in light of 2024 results. 2024 was not my best year, but it also was not my worst year, that was 2023. As I age, my goals adjust. Once in our office one of our managers was asking everyone what their goals were and what was their motivation. After
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nick vandekar: Working with a patient listing agent! What a delight!
- 12/28/24 10:59 AM
I just completed a deal with a very patient listing agent. We had a delayed settlement of 8 days. Not once did he raise his voice or get annoyed. I have had those agents on the other side of a transaction and they do not help. He actually said to me, I know you are working at this and doing your best, it is out of our hands so let's hope it just moves along and we settle soon. His patience encouraged me to not give up, when I was so frustrated with the pace of the lender. It reminded me
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nick vandekar: Closing day for Tom and Hannah
- 11/21/24 12:09 PM
It is always exciting to reach closing day, especially when everything has gone smoothly throughout a transaction. I met Hannah and Tom not that long ago when we met to discuss working together and they mentioned they wanted to buy a house before next May. After going over all the details of how the real estate process works in PA, getting approved for a mortgage etc they decided to work with me. They quickly got approved from a local lender, and we went to look at homes. At the very last minute Hannah texted me one more address to add to our
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nick vandekar: How to make an offer when purchasing a home?
- 11/20/24 08:43 AM
After all the searching, loan applications, seeing homes, visiting Open Houses the moment arrives when you know this is the home you want to buy. It is an exciting time and it can also be a stressful time. But, that is where working with an experienced Realtor brings a multitude of benefits. From price to terms, contingencies, settlement date a Realtor can give you advice. We do not make the decision for you, that is your job, but we can give you the confidence to make the right decision for you. So, let's explain the process of making an offer. In Pennsylvania we
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