Thursday, August 13, 2015

New Listing - 1009 Chiswell Dr. Downigntown, PA 19335

Popular Williamsburg neighborhood!  Downingtown school district.
4 Beds 2.1 baths - $375,000.



Great Opportunity to buy a move-in ready home in popular WILLIAMSBURG! Well maintained home with updated kitchen open to the family room for an open floor plan. This home is tucked away in a quiet area of the neighborhood yet close to all HOA amenities. Almost like a single family with the garage being the only one common wall with the neighbor. Move in ready with most rooms freshly painted recently. Very well lit and spacious house with a finished basement ready for you. Enjoy alfresco dinners on the private deck. Williamsburg is a very popular sidewalk community with a swimming pool, clubhouse, playground, basketball court, baseball field, paved access to the Struble Trail and neighborhood activities. Enviable convenience to SEPTA, 30 bypass, Rt. 202, 113 and PA Turnpike, shopping, dining and more. Award winning DOWNINGTOWN Schools, with the new STEM Academy. 


Bela Vora, REALTOR®,
Coldwell Banker Preferred - Exton Real Estate.
Office: 610 363 6006; Cell: (484) 947 3127
Website  |  Facebook  |  Blog 

Saturday, June 27, 2015

What challenge did you have at your settlement?

It appears that I have had some challenge or the other with all my settlements recently.  I had to keep telling myself, patience is a virtue.  Clients are stressed and emotional, disappointed or perhaps even angry at circumstances beyond their control.  It is their Realtor's job to help resolve the situation and pull it together.

Some of my recent challenges
1.  Water leak and non working refrigerator at walk thru before settlement.  Seller paid to fix the leak, but refrigerator part ordered did not fix the refrigerator.  Fortunately for my client, the title company as able to escrow funds and I was able to negotiate funds in addition to the escrow amount, so my buyer could simply replace the appliance.  Can your real estate agent negotiate escrows at settlement?

2. New construction sale and client not happy with a long punch list at pre-settlement walk thru.  Constant follow up with the site agent and manager to ensure that the punch list is taken care of before final walk thru.  Did you use a Realtor for your new construction purchase?  Did they disappear after the contract was signed or did they stay in touch through the entire time that your home was being built?

3. Opening a new line of credit before settlement.  It was very tempting for the client to get a store card to save some money on new purchases.  However small the amount, an additional line of credit has to be recorded and mortgage paperwork updated and ratios worked out again.  Fortunately it was a mere formality because it did not affect client's ratios - but settlement was extended for hours until the new paperwork was processed.  Does your Realtor leave for their next appointment or do they stay by your side just in case there are any further complications?

4. Previous year's tax transcripts were needed by underwriters but international client did not have them because they held expatriate position for the company in another country that year. Last minute switch to a new lender - settlement extended by 10 days , new lender paperwork pulled together last minute - great team effort with help of the title agent - made settlement at 5 pm on the day the extended AOS contract was to expire.

Oh I could go on.. maybe I will write a book shortly....

Bela Vora, REALTOR®,
Coldwell Banker Preferred - Exton Real Estate.
Office: 610 363 6006; Cell: (484) 947 3127
Website  |  Facebook  |  Blog  

Friday, May 29, 2015

Another study ranking schools in PA - 2015

So this one ranks Elementary schools.  Came across it at a website https://k12.niche.com/


Best Public Elementary Schools according to this website, ranks 40,403 elementary schools based on key student statistics and 4.6 million opinions from 280,000 students and parents. A high ranking indicates that the school is an exceptional academic institution with a diverse set of high-achieving students and faculty, and the students are very happy with their experiences.

The website has details of the methodology used in the study.



Bela Vora, REALTOR®,
Coldwell Banker Preferred - Exton Real Estate.
Office: 610 363 6006; Cell: (484) 947 3127
Website  |  Facebook  |  Blog  

Sunday, May 17, 2015

Coming soon....Home for Sale - 118 Wagon Trail Way, Downingtown

Finally a Home for sale in The Ridings at Uwchlan
List Price $575,000
Award winning Downingtown schools incl the STEM Academy.
Immaculate home with 5 bedrooms 2.2 baths, 3692 sq ft.
Kitchen with stainless steel appliances, granite and gleaming hardwood floors.  Fabulous private backyard with a large maintenance free deck, wired for lights and patio.  Huge Finished walk out basement with additional study, 5th bedroom, plus hobby room.






An immaculate home, on a premium lot, in the most sought after neighborhood of The Ridings At Uwchlan!  Carefully and lovingly maintained by current owners, this home is a must see.  The 2 story foyer, living & family room, along with plenty of large windows, give it a very open and airy feel - letting in plenty of sunshine.   Check out the updated kitchen with stainless steel appliances and gleaming hardwood floors.    The sellers totally transformed the backyard with a large composite deck which is great for entertaining and is maintenance free.  The deck is wired for lights and creates an awesome ambiance for twilight parties.  The walkout basement is spacious and has a day lit bedroom with closets, a half bath, an additional study, a hobby room ....and there is still more unfinished area for storage.   Walk out thru the sliding glass doors to an outdoor patio where you can enjoy the firepit on cool evenings, or simply watch the deer and birds in the backyard.  ALl of this in the award winning Downingtown schools with STEM Academy.  Excellent location with easy access to all major roads, restaurants, shopping, library...

Call me for showings today!  This one won't last long.

Bela Vora, REALTOR®,
Coldwell Banker Preferred - Exton Real Estate.
Office: 610 363 6006; Cell: (484) 947 3127
Website  |  Facebook  |  Blog  

Thursday, May 14, 2015

Coming soon....Single Family home in Applecross for Sale

Even better than new construction!
812 S Haines Cir. Downingtown, Pa
An original Kimball model - 2 yr old single family home,
4 beds, 2.1 baths
Downingtown Schools
$425,000.

 


Original upgraded Kimball model ready for you to move in.  Check out this well lit spacious home, backing to a large wide open lawn area. Walk into the 2 story hardwood floor foyer and cosy living room to the right.  Upgraded kitchen cabinets with beautiful granite counters, stainless steel appliances and microwave that vents outside. A separate desk area in the kitchen with additional cabinets, granite and a raised bar counter.  Enjoy your meals at the sunlit eat-in breakfast nook with 2 walls of windows.  Hang out in the family room by the inviting fireplace. A separate first floor study, with french glass doors for the telecommuters.  The home has an energy efficiency package including upgraded exterior and attic insulation, tankless water heater, upgraded HVAC and a couple of ceiling fans.  This Kimball model has bigger and more windows, and better upgrades compared to the subsequent versions sold by the builder.  Four very spacious bedrooms upstairs.  Masterbath has a whirlpool tub, glass shower, double vanity and a huge walk in closet. The owners have added additional cable and telephone outlets, concealed tubes to make ugly wires disappear, 2 exterior water hose bibs on both side of the home, window treatments in all rooms, stairs to the backyard, fresh paint...all you need to do is move in and enjoy!  The famous Applecross amenities include indoor and outdoor swimming pools, club house, state of the art fitness facility, tennis courts, walking trails, community activities, subsidized golf and more.  Located in a country club setting, with a fabulous 18 hole golf course designed by Jack Nicklaus.  All of this in the award winning Downingtown schools with the new STEM Academy which ranked No. 1 in PA!  Easy access to Rt.30, SEPTA train station and other major arteries. 

Don't wait, call me for a showing today! 

Bela Vora, REALTOR®,
Coldwell Banker Preferred - Exton Real Estate.
Office: 610 363 6006; Cell: (484) 947 3127
Website  |  Facebook  |  Blog  

Thursday, April 9, 2015

Buy a home with a Conventional Loan, just 3% down!




The following is courtesy of Michael Lamborn, Mortgage Adviser, Coldwell Banker Home loans.

You know that the down payment is frequently the biggest hurdle for many potential homebuyers – especially millennials – to clear, both in terms of dollar amount and credit score requirements. Buyers looking for a low down payment option have often relied on the U.S. Department of Housing and Urban Development's (HUD) FHA-insured loans that can offer down payments as low as 3.5%. Now, though, buyers have another option – one that allows them to put as little as 3% down.

At the end of 2014, Fannie Mae began accepting conventional mortgages with the more attractive 3% terms. However, it is important for buyers to understand the differences (aside from the 0.5% variation in down payment requirements) between the two programs before deciding on which is best for them. Let's look at the most important differences in terms of short- and long-term costs.

Credit score
A buyer must have a credit score of 500 or higher to qualify for an FHA loan, while a conventional loan requires a minimum credit score of 620. FHA loans can offer more flexibility with credit guidelines – your buyers can get additional insight and detail by speaking with their Loan Officer.

Closing costs
An FHA loan will allow the seller to contribute up to 6% of closing costs, while a conventional loan only allows up to 3% if the minimum down payment requirements are utilized. This can be a considerable benefit for buyers looking to reduce the financial impact of the home purchase.

Mortgage insurance - Very Important!
While the credit requirement is typically higher on conventional mortgages, it brings into play a difference between the two programs in terms of mortgage insurance.
On an FHA loan, the mortgage insurance is a static figure – in January, the FHA reduced the mortgage insurance on 30-year fixed loans from 1.35% to 0.85%. The buyer pays .85% of the loan amount up front at the time of closing – it is added to the principal balance – and then .85% is paid in annual premiums over the life of the loan.
For an FHA loan, the insurance rate remains the same throughout the life of the loan and doesn't disappear until the ratio reaches 78%. However, for a conventional loan, private mortgage insurance goes away when the loan-to-value ratio (the price of the loan versus the value of the house) hits 80%.

Just like the house you are looking to buy, the mortgage program you choose must be the one that feels and fits right in your current financial situation and with future objectives.    Call me and I am happy to connect you with helpful and friendly mortgage advisers who will customize their advice for YOU!

CNN article on the announcement.



Bela Vora, REALTOR®,
Coldwell Banker Preferred - Exton Real Estate.
Office: 610 363 6006; Cell: (484) 947 3127
Website  |  Facebook  |  Blog  

Monday, March 9, 2015

5 steps to rebuilding your credit after a foreclosure


A foreclosure can have a significant negative impact on your credit scores, limit your ability to obtain new credit and remain on your credit report for seven years. However, with patience and a plan, you can successfully rebuild your credit so that you are in a position to take advantage of all that a healthy credit rating has to offer. Here are some key steps to take on the road to credit repair.



  1. Find out the true impact to your credit. First, be sure you know exactly how your credit was affected. The terms and conditions of foreclosure and short sale agreements can vary in how they impact your credit scores (how they are reported to the credit bureaus and how long they stay on your credit report)
  2. Get smart about your credit ratings. Educating yourself is your best line of defense when it comes to your credit, and a great place to start is with your credit report. You can obtain a free report from each of the three top reporting agencies (Experian, TransUnion and Equifax) by visiting annualcreditreport.com, a site authorized by the federal government. Your credit report can give you insight into why your foreclosure happened so that you can take steps to prevent a re-occurrence (look in the "Public Information" section of your report). It's also a good idea to review your report to ensure it has no errors and that there are not any old debts still on record after being paid off.
  3. Pay your debts on time. Your goal is to create a positive payment history to show lenders you are being financially responsible. Additionally, paying down high balances can positively impact your credit score since your "credit utilization," or your debt-to-credit ratio, comprises 30% of your credit score.1
  4. Know what not to do. It may seem smart to close open credit accounts. That's not necessarily the case and could even hurt your score. Closing credit accounts, even those you have not used for some time, can suggest to lenders that you are closer to being "maxed out" on your credit than you truly are.
  5. Use credit cards to rebuild your credit. That may sound counter intuitive, but consistently paying off a balance each month has a positive impact on your score. If you're unable to obtain a regular credit card, you may want to consider a secured card, offered by many banks and credit unions. In simple terms, you'll be required to deposit a certain amount of funds with the creditor – and in return you'll receive a card for a line of credit in that amount. Using these secured credit cards responsibly over time can also accrue to your benefit and help rebuild your credit worthiness.
While repairing your credit can take time, it is an achievable goal. Be patient, develop a concrete plan and stick to it. The more disciplined you are, the more progress you can make.




Bela Vora, REALTOR®,
Coldwell Banker Preferred - Exton Real Estate.
Office: 610 363 6006; Cell: (484) 947 3127
Website  |  Facebook  |  Blog  

All the Light we cannot see - Anthony Doerr

This book by Anthony Doerr was probably the best book I have read in a long time!

It is Word War II story - and a very well written touching account of how the war affects regular people, in a small seaside town in France.

The book is very expertly written and the story development is intricate, switches back and forth in time, and from points of view of different characters.   It keeps you engaged and wanting more with each page.  The character development is really good in my opinion.  Apart from the lead characters, the rest of the cast is also multi-faceted, with their strengths, insecurities and challenges.

A locksmith with a penchant for detailed wood carvings and unfailing dedication to his child as a single parent... a little boy smart enough to teach himself the physics of radio operations, torn between loyalty and values... a young blind girl summoning courage in situations that most adults with perfect vision would not have... a housekeeper's surprising passion for the resistance movement... the General, an expert on precious stones following a personal vendetta and abusing power ...these characters are so vivid that they stay with you long after you finish reading the book.

Anthony Doerr's style of writing is simple, yet evokes all senses.  The sense of touch thru the wooden carvings, the smells from the housekeeper's cooking, the taste of fear for the blind girl...the visuals of the locations as described, the town, the museum, the hidden stairs and hiding room...the author has a way of making you live in the story - as if you are right there, living it with the characters..

This certainly goes in my 'definitely read' pile.  I am sure you will appreciate it.
More of my book reviews here.

Bela Vora, R3ALTOR
Coldwell Banker Preferred - Exton
Office: 610 363 6006; Cell: (484) 947 3127
Website  |  Facebook  |  Blog 

Monday, February 2, 2015

Real Estate Market expectations for 2015.


This Infographic from the National Association of Realtors pretty much sums it up for me.




Bela Vora, R3ALTOR
Coldwell Banker Preferred - Exton
Office: 610 363 6006; Cell: (484) 947 3127
Website  |  Facebook  |  Blog