A Sunday Stroll Through Ridley Creek State Park

Wow, what a day. We woke up to a small dusting of snow and couldn't resist a drive to Ridley Creek State Park after we got done some work on real estate and read the Sunday Paper with some muffins and coffee. The park is huge and only about 25 minutes from Havertown. It is one of the many destinations within 30 minutes of our town.


 http://picasaweb.google.com/jb5440/RidleyCreekStateParkEdgemontPa?feat=directlink is for the pictures.

 The site is http://www.dcnr.state.pa.us/stateparks/parks/ridleycreek.aspx. The villages there were from the early 1700's and some of their foundations are still there along with a few of the original homes including the plantation which is a replica of a colonial farm and is open for tours. The guides are role playing so be prepared for the Old English. We got a few pictures strolling and will link the album in a sec.

We stopped at La Laconad 2 Go http://www.lalocanda2go.webs.com/ Right outside the park for a veggie wrap and a green tea for lunch in the park. It is a small take out associated with the LaLocanda Dining Institution a few doors away. The place is tiny with a few tables to eat in but the size of the menu is overwhelming. I read about the stop in this month's issue of Main Line Today which had nothing but good things to say about the place. It has both fast food and a striped down menu from it's main establisment. The wrap was prepared quickly on the grill of all places and served on a warm wheat wrap with a side of pasta salad. It was delicious. Definately going back there.

The park itself was deserted and put us in relaxed, dreamy mood as we rode and strolled around. The horses were out in the pasture around the riding stable that boards a lot of privately owned mounts. We drove down to the village where the original mill was for the photos of the falls. It was called Bishop's Mill & Sycamore Mill & Providence Mill over the years and has a great hiking path with no autos allowed. The oldest property is the 1683 Worrel House http://en.wikipedia.org/wiki/Ridley_Creek_State_Park is a nice site with info on it.



It was a day to remember with my lovely wife Deborah. One of many.

Little Known Facts About The Tax Credit For Existing Home Buyers

The tax credit for existing home buyers comes with a couple restrictions that some may not be aware of. Everyone knows you must have lived in the residence for 5 years, but you also must have 30% equity in the home and agree to use the new home as your primary residence. You must also agree to sell your original home unless you have a six month reserve of the mortgages, taxes, insurance premiums etc. for each home. So if you are carrying a $1500 payment for each home you are looking at a $20,000 reserve minimum left after your new home purchase. This information was shared by our mortgage broker in the Century21 Alliance office this past week.

Will 2010 & The Tax Credit Bring The Buyers Back?

Real Estate got a sorely needed shot in the arm when they extended and expanded the tax credit for home buyers. Now that existing home buyers as well as first time home buyers can qualify it should bring back the buyers that have been sitting on the fence. So if you had a home that did not sell keep it on the market. Buyers must have signed a contract by April 30 to quailify and as we saw with the credit that was supposed to expire in November most clients will wait until that last month to put in their offer.




January is always slow in real estate and it starts to get busier each month up to June and then it normally slows down for the summer months with a flurry in October with clients picking up properties that did not sell over the summer. This year might show a different pattern. The tax credit, a resurgence of FHA loans, and pent up demand might show heavy traffic this winter and early spring.



Even through an economic downturn the real estate cycle still goes on. New buyers become eligible to purchase, existing buyers want to upgrade for size or lifestyle reasons, transfers happen in the workplace and estate sales go.



The new buyers are actually a stronger client than the ones we saw previously when real estate was booming. The days of 100% financing and a gift letter from family members are over so after the initial shock or loan refusal they are coming back to the search with better credit scores and an actual down payment and settlement cash. They are more focused and determined to be an informed buyer and negotiate a stronger deal in this buyers market.



So you sellers out there stay with it, price your home competitively, and have your home ready to show at all times. The worst thing to be right now is the highest priced home sitting on the market. You want to stand out from the pack and the best way to drive traffic to your home is to be just a little bit lower in price than your neighbors. Believe me, the present day buyer is looking hard but he is not willing to pay top dollar in this market.



You can email me any questions at bradyscentury21@gmail.com

Making Your Home Purchase As Stress Free As Possible

Let's Face it, buying a home is both exciting and stressfull. Here I would like to give you some tips to make it a little less stressfull. First and foremost check your credit scores since that will be the initial item your mortgage company will use to determine your credit worthiness and will have a major bearing on how much you will be paying each month for your home. If there are negative comments from an institution or any unpaid bills from collection agencies address them to clear them up. Contact these companies and come to an agreement with them on any outstanding bills or loans as they will have to be taken care of before you go can get your final mortgage committment. Ask your lender for a written pre-approval before you start looking so you will know what you can afford. Nothing is harder than falling in love with a home and finding out your lender will not approve the loan.



After doing your homework on the internet ( www.bradyhometeam.com can be a huge help) checking neighborhoods, schools, taxes, travel time to work focus in on one particular area so you do not become overwhelmed with potential homes. Next establish a relationship with one realtor. Calling and emailing multiple realtors will cut down on the service you receive. Realtors can tell which clients are focused and committed and will work harder for clients they feel are ready to buy in the near future. Communicate your wants and needs via email and for goodness sake call your realtor so both of you can get a feel for each other and find out if you are a good match. Let the Realtor do the work for you. They have a vast array of tools to find the home you want. Do not waste time looking at every home on the market. Let your agent sift through the homes available and find ones that match your request and go see 4 or 5 in a day. After your agent sees your reaction to the homes they picked they will know what you are looking for.



After finding your home ask to see comparible homes in that neighborhood that are on the market and homes that settled in the last six moths to determine your price. The actual settled price is a better comparison as a home's value is really only what the buyer is willing to pay. Put your offer in with a timeline of 24 to 48 hours for an answer so you are not left hanging. A little back and forth on the final price is part of the process so be prepared for it and have a number in your head you are willing to pay and let your realtor know it. Reserve the final say to any agreement and do not sign any contract until you are comfortable with the agreement.



Get your inspections done quickly and as we say do not sweat the little stuff and focus on any major repair like roof, electric, plumbing, heat, termite damage etc. Do not lose the home you want over something minor. Most sellers are prepared by their agents to either fix a legitimate repair or arrange a cash credit to the buyer. The seller will just have to fix the problem for the next buyer anyway and everyone knows that.



Stay in touch with your mortgage broker so they can meet the committment date. Prior to settlement ask for a written copy of your HUD statement which will detail all charges involved with settlement. Once you get to the table it is harder to get something changed. Ask your agent to go over the settlement sheet prior to the final day so they can explain everything to your satisfaction.



Call your lender the day before and ask if they are ready to go and find out when they are delivering the papers and more importantly the cash to the title clerk at the settlement office. Wiring money takes a few hours so make sure it is done the day before.



Go to settlement informed and relaxed and enjoy the day. It will take a couple hours so be prepared. Everyone there will be professional and focused on making the transaction as smooth as possible. We have seen sellers and buyers who did not get along at all during the negotiations hug and kiss at the settlement table. Get your keys and enjoy your new home with your family. I hope this helps relieve some of the stress involved in the purchase of your dream home.