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Downingtown : Real Estate Advice

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  • Local Info14
  • Home Buying40
  • Home Selling4
  • Market Conditions5

Activity 66
Sun Sep 20, 2009
Grace Hanamoto answered:
Hello Buyer:

Since a large number of available homes on the market today are "distressed properties" (short sale or REO/foreclosure properties), banks do definitely like to see that a homeowner has approval for financing before approving the purchase of the home. Thus, a preapproval letter or, in some cases, an approval letter from the direct lender is required to be submitted with all offers. Does this mean that the listing agent or the bank confirms that the buyer will have a loan--sometimes yes, sometimes no...it pretty much depends on the circumstance. If the purchase of the home came down to a choice between two buyers, the one that might get the home is the one whose lender tells me that his buyer has great FICOs and will easily qualify for a loan versus the person with borderline FICOs and there will be an admitted uphill battle to get the loan funded. However, in most cases (unless the lender is someone I do not recognize), the listing agent does not contact the loan officer and we do not necessarily need to hear from the officer either.

As for "cooking" the contract by being required to use the agent as the mortgage broker or the agent's recommended pals, we only provide you with resources to make the situation easier. I always provide my clients with several loan agents and tell them that if they know someone at their bank who can make the loan go faster, then exercise that option as well. Sometimes, I recommend only one person because I know this one, for example, is always available and can give me preapproval letters in hours, rather than days. The situation often dictates the recommendation--however, after the home is in transaction, if the owner wants to switch loan companies, they are certainly allowed to do so.

Finally, when interviewing agents, ask him or her all of the questions for which you'll need answers to feel comfortable. The obvious questions are:

1) how long in the business (also full time or part time agent)
2) how many transactions have they done in short sale, REOs, private parties;
3) how many clients are they working with right now--that's a key since, even with a great agent, you don't want to be 27th in a list of active clients;
4) education, affiliations, certifications, specialities;
5) areas where they are most familiar (you may see a pattern regarding where they usually work and the types of homes they are most comfortable selling--see if that meets your goals);
6) Names of satisfied clients with whom you can talk.

If the agent seems unhappy, uncomfortable or reluctant to take or answer such questions, move on. You want a qualified agent to represent you, and most of us are willing (and dying to tell you) how qualified we are!

Good luck!

Sincerely,
Grace Morioka, SRES, e-Pro
Area Pro Realty
Co-Host "Naked Real Estate" on www.blogtalkradio.com
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0 votes 8 answers Share Flag
Sun Sep 20, 2009
Irene Barnes Butler answered:
Hello Mary!
Although it's a few days since your posting of this question, I figured you may still be wondering the answer. Those "settling ponds" are usually the area the township has dictated during the planning process that must be used for storm water management and run off. Having said that, in some areas these locations will eventually fill in from the bottom where there are higher than average water tables and it will likely resemble a pond. In other areas, the area will simply resemble a field with possibly a drain present and may never hold water again. As far as the idea of any stench from sitting water it's unlikley since the whole reason is for water to move through there, although the best way to answer this is to ask!

If it's an established neighborhood then ask the neighbors. I always tell my buyers to interview the neighbors in a developement they are considering making an offer anyway. If it's new construction, then an experienced agent will look into issues like this and many others you wouldn't think to ask about unless you bought several homes a year. But likely the answer would be no, there aren't typically many complaints about odors nearby. At least not that I have ever heard in 17 years of practice!

Irene Butler
Partner / Realtor
Keller Williams RE
276 B Dilworthtown Rd
West Chester, PA 19382
610-399-5100
Cell 484-576-9491
IreneButler@kw.com
www.IreneButler.com
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0 votes 1 answer Share Flag
Fri Sep 25, 2009
Terrence Charest answered:
The requirements to be a licensed real estate agent is to pass two tests. One in state real estate law and the other in real estate knowledge. If you know for a fact the the agent lied, covered up information, etc then you can go to the state to complain or if they are a Realtor you can also go to the Association of Realtors to complain there.

Hope that helps,

Terrence Charest, e-Pro
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0 votes 49 answers Share Flag
Wed May 4, 2011
Todd Reed answered:
I am a realtor and live less than 1 mile away. I just sold one there to a friend/client of mine. They current incentives they are giving are excellent. Do you have any specific questions? ... more
0 votes 7 answers Share Flag
Mon Mar 21, 2016
From Downingtown answered:
We live in the Williamsburg community and it is absolutely wonderful! Its very family oriented and has a lot of amenities. Also, the location is great with access to the bypass, Route 30, and Route 100. Shopping is very close by. Schools are wonderful if you have young kids. We have been in this development for 5+ years and love it. ... more
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Sat Mar 5, 2011
Ccday answered:
We really really need to get out of the home we are in. Its falling apart. The landlord wont fix anything and he just keeps jacking up the price and we just cant take it. We found a home we would like but we just dont know what to do because of his credit score. ... more
0 votes 6 answers Share Flag
Tue Nov 3, 2009
Chris Lagarde answered:
Skyline,
The best thing for you to do is to talk to your home mortgage consultant. They will be able to explain the numbers in great detail. Without having the entire GFE in front of me, it is difficult to say for sure what the details are.

What should happen is that within 24-48 prior to your settlement, your title company should be able to put together a "HUD" sheet or "Housing and urban development". This outlines, in great detail, where every single cent is going, and it will also give you an exact number for what you need to bring to the settlement table.

Typically, that number is usually very close to the GFE. When it is not, it is usually because something like a capital contribution fee was missed, or something similar to that.

I hope that helps. Your real estate agent should be able to help you with this as well.

Warmest Regards,
Chris LaGarde
Home Buyer Specialist
The Cindy Dickerman Team
Keller Williams Real Estate


Email \\ chris@cindydickerman.com
Office \\ 610.363.4300
Mobile \\ 484.995.9318
Web \\ www.cindydickerman.com
100 Campbell Blvd,Suite 106,
Exton, Pa 19341
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Mon Apr 27, 2009
Todd Reed answered:
I am currently helping about 20 customers get ready to do their appeal. You can't appeal until May 1st. To find out if the home is over-assessed you take the property value x 51.7%. That tells you what your assessment should be. If it is currently higher than 51.7% the appeal process is very simple. A one page form plus a $25 check. Call me if I can help. I am glad to e-mail you the form & explain the process. Todd Reed, Keller Williams Realty Midway, 610-570-5864. ... more
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Mon Apr 20, 2009
Jim Conlin answered:
The inability to turn both ways makes commuting a pain. The views are great, and the homes are well priced. Reselling them may prove difficult with the turn issues. There are about 8 strip malls and grocery stores within a few miles, so shopping is never a problem. I live and work within 2 miles of Tall Trees, and love the general location, but bottem line is that the enterance would absolutely drive me crazy with no easy way to turn around on Route 113.

If you would want to investigate other options, I'd be happy to provide you with a list.
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Tue Apr 21, 2009
Emily Erekuff answered:
Hi Sally,

Welcome to Trulia and thank you for your question!

Except in a few cases, Trulia generally does not receive listing information from the MLS. If your listing is not yet on Trulia, please access the link below to submit it to us. If your listing is already on Trulia but the information is out of date, please follow the link to 'View more details'. You'll be brought to the source that is providing us with your listing information and if you make sure they update their information, our display should update automatically thereafter.

Please let us know if you have any further questions.

Best Wishes,

Emily Gibson
Community Moderator
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0 votes 1 answer Share Flag
Fri Mar 20, 2009
Nancy Day answered:
You should have asked her this at the time she listed your home. The original contract for Exclusive Right to List can not be altered, in most cases.

As a buyer, you wouldn't be paying her commission - the seller of the property your purchasing will be paying you.

BUT, you could always ask.

Best of luck,

Nancy
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0 votes 6 answers Share Flag
Sat Feb 19, 2011
Chris Suarez answered:
With a conventional loan, a seller cannot contribute towards your downpayment. Normally, they would want to re-coupe their monies so they would incorporate it in the price. You would need to talk to your Realtor about it. They should be able to explain but, you do need to find out if the seller is even "allowed" to give you anything towards down payment (unless they are family).

Chris Suarez
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0 votes 9 answers Share Flag
Thu Apr 28, 2011
Terrence Charest answered:
Publics records, there are some websites that may have some information, but using a Realtor would be your best bet.

Terrence Charest, e-Pro
0 votes 9 answers Share Flag
Tue Feb 24, 2009
Tameka Goldsborough answered:
Hi Kim!

Last year, I represented an engaged couple who had planned to purchase a unit in Tall Trees. Unfortunately, shortly after they submitted their deposit , the couple called off their engagement and did not purchase the unit. But up to that point, their buying experience was a good one. I'll also add my two cents as I have shown several Ryan properties in recent years and Ryan has a great reputation as a builder. The only major concern my clients had was the inability to make a left-hand turn into the development when heading southbound (towards the boro of Downingtown) on Rt. 113. And secondly, the shortage of guest parking as my clients did a lot of entertaining, but that issue may have been resolved since then as the development is still under construction. I believe Ryan plans to build a total of 75 homes there. I know they have reduced their prices and have thrown in a lot of incentives in recent months. The starting price is $269K. And I believe they are 70-75% sold out. And I recall, there's one resale in there priced in the mid-$280s.

I hope some of this was helpful. I am a local agent in Exton. If I can be of service to you, don't hesitate to email/call or text me at 484-888-4603.

All the best with your home search!
-Tameka
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0 votes 2 answers Share Flag
Sun Nov 2, 2008
Edmund Choi answered:
Send me the address and I can forward it to you. Contact me through this forum.
0 votes 4 answers Share Flag
Mon Jul 28, 2008
Michael D Delp answered:
Carolyn,
It depends on your goals. You may be better off building a permanant home right away. A mobile home is usually a bad investment. There are good construction loans out there that will allow you to build a home on your lot. Feel free to call me if you have any questions. The very best of luck to you!
Michael

Michael D Delp
Mortgage Pro
4802 Old Bethlehem Pike,
Telford Pa. 18969
Ph- 215-453-1025
Fax- 215-453-1012
Cell- 610-762-0318
michaelddelp@aol.com
michaelddelp@verizon.net
www.mortgagepro.instantlender.com
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0 votes 6 answers Share Flag
Thu Dec 10, 2009
Daniel J. Brudnok - PA Lic.RS225179L answered:
Ed,

Hello again, As I answered you about Chase at Bell Tavern, please email me (Danrealestateman@aol.com) or visit my web site to see all that is available.

This is a bit different for Chase at Bell Tavern, yet a very accessible area with many amenities.

If you would like to talk please do not hesitate to call me....610-256-7258.

Dan
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0 votes 3 answers Share Flag
Fri Jul 4, 2008
Daniel J. Brudnok - PA Lic.RS225179L answered:
Ed,

Chase at Bell Tavern is a newer community of different homes....Townhomes, smaller singles and estate homes. Centrally located and easy access to Rt 113, 30, 30 Bypass and much more....If you would like additional information please email me and your will be able to see homes sales and availbe one as I do.

Danrealestateman@aol is my email and www.DanBrudnok.com is my web that will allow you to see all homes.

I hope this helps and have a great 4th of July!

Dan
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0 votes 2 answers Share Flag
Fri Apr 8, 2016
Tameka Goldsborough answered:
Hi Kasey! Everything you ever wanted to know, can be found here --> http://www.marshcreeklake.com/.

People who live in Marsh Harbour absolutely love it! The surrounding community offers townhomes 2 and 3 bedrooms, starting in the low 200s. And offers single family homes in the mid-$300s. Great community for people of all ages.

My family and I have enjoyed swimming and picnicing at the creek. It's a water-lovers paradise!

Hope that helps. If I can assist you further, I'm here to serve! Call me at 484-888-4603.

All the best!
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0 votes 13 answers Share Flag
Sun Jul 20, 2008
Daniel J. Brudnok - PA Lic.RS225179L answered:
An Agent CANNOT sway or dissway any Client to or from any area. If you have questions about an area, your Real Estate professional will assist you in finding the source's necessary to make a solid decision. ... more
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