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 


How long will these incredible mortgage rates last?


Bela VoraR3ALTOR
Coldwell Banker Preferred - Exton
Office: 610 363 6006; Cell: (484) 947 3127
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ebsite  |  Facebook  |  Blog 


Friday, January 23, 2015

Home for Sale 937 N York Dr., Downingtown, PA 19335

Welcome to Williamsburg!  


One of the most sought after neighborhoods in Downingtown!







Call 484 947 3127 to schedule your showing today!

Excellent location.
4 Beds, 2.1 Baths
Updated kitchen with granite counters
Well Maintained, Move in ready!
Very low HOA Fees that include Swimming Pool


Bela VoraR3ALTOR
Coldwell Banker Preferred - Exton
Office: 610 363 6006; Cell: (484) 947 3127
W
ebsite  |  Facebook  |  Blog 

Wednesday, January 7, 2015

Great way to begin 2015.....


"We are what we repeatedly do.
Excellence then, is not an act, but a habit."
- Aristotle
Bela Vora, R3ALTOR
Coldwell Banker Preferred - Exton Real Estate.
Office: 610 363 6006; Cell: (484) 947 3127
Website  |  Facebook  |  Blog 

Monday, November 10, 2014

Owners of rental property...are you a discriminatory landlord?

We all believe we are fair and could never discriminate, so it is often a revelation to understand what could be considered discriminatory.  Also, it may be understood that licensed professionals like Realtors have to worry about laws, but if you own rental property and advertise for a tenant - on the internet or print media or even a flyer posted at a local grocery store - the Fair Housing Laws apply to you - the landlord.

Find the National Association of Realtors Fair Housing guideline here.  
Here is a pdf of - The Responsibilities of Owners of Real Property under the PENNSYLVANIA HUMAN RELATIONS ACT of October 27, 1955, P.L. 744,

Your local townships and counties may have zoning ordinances - for example, some require Certificate of Occupancy before every rental....some may have  a maximum number of people that can occupy the premises, some require permits to rent to students etc etc.  Please check with your local authority for more information.  

The Pennsylvania Association of Realtors official lease document also reflect the laws.  Landlords need to read and understand the lease.  It has details like - Maximum allowed security deposit is 2 months rent in the first year (including pet deposit).  The deposit is held in escrow by landlord, but belongs to tenant and must be returned within 30 days of the end of the lease term.  Or rules related to handicap requirements or service animals.  Please pay special attention to early termination of lease since that comes up all the time.   

As always, reach out if I can be of assistance.  


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

Monday, October 27, 2014

10 Southfield Dr., Downingtown, PA 19320

A really well maintained immaculate home for sale!

 

 

Immaculately maintained home awaits new buyers. Desirable cul de sac location, large lot and open welcoming floor plan.  For more information visit 10 Southfield Dr., Downingtown.


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

Wednesday, September 24, 2014

Federal Trade Commission needs more info on the Zillow Trulia Merger

The much talked about Zillow Trulia merger awaits FTC's decision.  Many feel, it will depend on how the real estate advertising market is defined.  If online advertising is considered a separate category, then it appears to be a monopoly, inspite of Spencer Raskoff 's claims about the long tail (the fragmented market).  However if all real estate advertising is the entire pie, where online is only a piece of the pie, according the Wall Street Journal article,  then there are no antitrust concerns.


I believe Internet will change the way real estate will be done in future, however HOW is the key question.

Will it do away with the brokerages?  
While the traditional brokerage model may be in jeapordy, the brokerages will have to reinvent themselves using technology.  Redfin is an online company that focuses on technology and also has agents on the ground that bases their model on commission kickbacks to buyers and sellers.  There are other startups that tweak this model and compete on the technology platform or flat fee structure or a la carte services.....   Realogy, the parent company for Coldwell Banker Preferred, is launching its own combined website  (it owns multiple brokerages) consolidating web traffic.  There are talks about Zillow becoming a brokerage as well.  I am anxious to see how this evolves over the years.

Will it do away with the Multiple Listing Services (MLS)?
Data accuracy remains key to success, and it boggles me why there is so much data inaccuracy on Zillow, Trulia and other real state websites, when they feed directly from the MLS?  Theoretically, if consumers start uploading their own data and pictures on these sites, then MLSs can potentially get redundant.  Until then, Zillow will need the information from the local MLSs.

Will it do away with Realtors? 
Yes there will be a shake out and restructuring,  There will be category of tech savvy Realtors who have created a local  network thru value adding services, those will always be successful.  There will be another group of volume based Realtors, who will have a client base thru online advertising or commission kickbacks, who will do well, if they control the business end of things. The third category of "part timers", those relying on friends and family for business and working with traditional brokerages, may be the ones in jeopardy.

There are legal implications for how real estate transaction are done in every state and ofcourse major local considerations to every real state sale.  There is huge competition for the online web traffic and a wide variety of new models being tried by various startups. The chane in this industry is bound to happen slowly.

Moe thoughts on this Zillow Trulia merger.

Next article about what is Zillow's value proposition? Stay tuned.

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




Wednesday, September 17, 2014

Some thoughts on the Zillow Trulia merger

As the leading real estate sites Zillow and Trulia combine forces, the industry is abuzz with the ramifications of the merger. The official word is, that there are no plans to merge the websites and they will continue to operate as separate sites.

Consumers have total access to real estate data online. As with everything else online, how will the real estate industry progress along the continuum of ...Noise - Data - Information - Knowledge - Wisdom... remains to be seen.  Having said that, here is my take on how this merger will affect the industry.

Combined resources may mean better data for the consumer. 
The biggest criticism of these real estate websites has been incomplete and inaccurate data. In the long run, this acquisition is good for the industry, because it will consolidate some of the offerings and lead to better all-around data, which will lead to a better consumer experience. If accuracy can be significantly increased, the Multiple Listing Service (MLS) that was so far the domain of Real estate agents, may be in danger of becoming redundant.

Realtors will continue to be integral to the process of buying and selling a home. 
I feel, Realtors who add value and are tech savvy, will always be sought after. In an industry where barriers to entry are low, this will create a shake out and the agents who do not provide good service, or are part time and fail to update their skills, will have to drop out.

Combined sites will lead to Advertising Price Increases 
Zillow's CEO has maintained that the sites sell ads, not houses. It is not a brokerage but an advertising tool. With the two largest websites merging, their advertisers (Realtors, Brokers and Mortgage lenders) fear that a law of supply and demand will certainly have an impact on prices. A Monopoly may be created because arguably the combined sites have over 75% consumer traffic. Ofcourse there is a viewpoint that the long tail adds up to a lot more consumer eyeballs - so 75% is a highly exaggerated number.

Big real estate corporations will partner with Zillow-Trulia
It will be easier and more cost-effective for the big franchisors to work with these websites, than to fight them. Their “strategic partnerships” will solidify the legitimacy of Zillow-Trulia in the consumer’s mind. Realogy - the parent company that owns the Coldwell Banker franchise (my broker) already has a Fab Plus package in place which gives their agents heavily discounted packages.

More remains to be seen.  I am completely fascinated and feel this will turn into a series of articles for this blog.  Stay tuned.

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

Tuesday, September 9, 2014

Research schools before you buy your home.

Schools are an integral part of the buyer's criteria for home purchase.

The Daily Beast has identified America's Top High Schools 2014.  Follow the link below and find the school district that you want to research.
They have used 6 indicators from a large survey, to compare Public High Schools in the US and have emphasized graduations and college acceptance rates.

http://www.thedailybeast.com/articles/2014/08/27/america-s-top-high-schools.html

More info on schools and links in my blog.

More Information Here

or CALL

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