John Badalamenti - Prudential Fox & Roach Realtors, Wayne, PA

Did you know that a home un-occupied/vacant for more than 30 days may not be covered by a home owner's policy? Many insurers are getting tough these days, especially with the amount of vacant, un-occupied properties over these last few years.

Water damage (from frozen pipes), fire, and vandalism are more likely to happen in an un-occupied, vacant home vs. one that's occupied. In addition, the issue can become more severe as there is usually no one around to stop and/or report the problem(s).

If your home is vacant while listed with a real estate broker, don't assume your broker is responsible for performing property management. It is always prudent on the part of the home owner to winterize a home during cold weather months by a licensed plumber or heating contractor to minimize the risk of freezing pipes if the home is vacant. In some cases the winterization may need to be reversed to accommodate inspection of the home by potential home buyers.

Sump pump failures due to electrical outages resulting in flooding, or cooling system failures in hot weather months resulting in humidity build-up are other concerns that may cause deterioration and/or mold issues.

Your interpretation ("we still have furniture in the home so it looks like someone is living there") and your insurance company's interpretation ("we can check utility usage records") - of an un-occupied property may be completely different. Guess who usually wins that argument?

Review your policy and check with your insurer as soon as possible if you think your home may be vacant for 30 days or more (I know what you're thinking. What if I do call and my insurance company winds up cancelling my policy anyway? Ask yourself what is the lesser of two evils: you having to find a new "un-occupied home owner policy" or you finding out that your policy is void after a serious incident?)

Henry Brusca, an insurance agent in the Philadelphia Metro & Main Line area with the Trident Insurance Agency (an affiliate of Prudential Fox Roach) offers this advice: "insurance policies are not one size fits all. There are different policies for each unique situation that arise (owner occupied, vacant, vacant under renovations, builders risk, tenant/non-owner occupied, seasonal/secondary, etc)", he said.

"If the usage of the property does not meet the requirements of the policy, the policy will void at the time of loss. While certain policies are more expensive (i.e. - builders risk), they are the only way to ensure coverage if there is a loss.  An insurance policy is a legal document filled with terms and conditions.  An issued policy is not a guarantee of coverage at the time of loss."

Keep in mind that it is important to document your plans in writing. If you advise your insurance agent of your plans to move/vacate an insured property, you can't rely on their word at the time of loss. The insurance agent is not the person who will adjust the claim at the time of loss. If your insurance agent tells you that you are not required to change your coverage due to the vacancy, make sure you document all conversations via email.  While this won't guarantee coverage at the time of loss, it will show that you have done your due diligence and disclosed your situation to an agent of the company. 

If you fall into a "high-risk category", there are some insurance companies that participate in the FAIR (Fair Access to Insurance Requirement); they may offer vacant home insurance. 

Check with your state's insurance department web site (for example, Pennsylvania's Insurance Department web site is: http://www.ins.state.pa.us/), often a good resource of licensed insurer information for the state's consumers.

Lastly, Vacant Home Insurance Now headquartered in Malvern, Pennsylvania is one of the leading providers of vacant property insurance in the United States.

Do your homework and review all your options. Don't risk having a lack of vacant home insurance for one of your most valuable assets, your home, but also keep in mind that the cheapest policy isn't always the best and may do more harm than good. All it takes is one serious incident and it could cost you dearly.

 Please note: The above is for informational purposes only. You are encouraged to contact an insurance professional or attorney for advice regarding your particular insurance situation.

Let's be honest, going GREEN is on everyone's mind these days!  Well, you're going to be pleasanlty surprised with this new interactive web portal, the EPA's new GREEN Home Web Site.

What's really hot (or GREEN) about this new site is the ability to click on an area of a house, indoor or outdoor - to receive a myriad of tips & ideas on reducing engergy consumption, waste generation, water usage, improving air quality, carbon footpints - all the while making your home GREENER.

For more information go to: http://www.epa.gov/greenhomes

This survey, "The 2009 National Association of REALTORS® Profile of Home Buyers and Sellers" was released yesterday, November 13th at the 2009 REALTORS® Conference & Expo.

Obviously as a REALTOR® practicing in Suburban Philadelphia I have a "vested interest" in the success of the local real estate market here, however there are other factors at play that effect everyone that shouldn't be overlooked: the health of the local - and national economy.

Every time a homebuyer purchases a home, no matter where it is, several other real estate transaction may also generated as a result of the first (the Smith's buy from the Wilson's who are now able buy from the Jones's, who buy a new construction home, etc., etc.). Short sales, bank owned (REO) and foreclosures are the exception of course, but when these properties are sold, it loosens up the local real estate inventory.

Paul Bishop, NAR vice president of research, said several factors have been at play. "Tax incentives, record high affordability conditions and a pent-up demand brought a record share of first-time home buyers into the market," he said. "These buyers are critical to housing and a general economic recovery because the market always heals from the bottom up -- they absorb inventory, free existing owners to make a trade and stimulate related goods and services."

Congress has extended and expanded the homebuyer tax credit. The modifications in the column labeled "November 7 - April 30, 2010 Rules as Enacted Nov. 2009" - becomes effective on Nov. 7th, 2009 (President Obama signed the bill on Nov. 6th, 2009). All changes made to the current credit become effective on this date as well.

>>> CLICK HERE To Review The Difference Between the Tax Credit Rules That Where Due to Expire at the End of November, and the New Tax Rules Extended to April 30th, 2010*

*Courtesy of the National Association of REALTORS®

Nov. 2nd, 2009 By ALAN ZIBEL AP Real Estate Writer: http://abcnews.go.com/Business/wireStory?id=8974250

The amount of pending sales are due in large part to the amount of many first-time HomeBuyers who took advantage of the $8,000 tax credit (which ends this month).

We're waiting on final approval for AN EXTENTION of the $8,000 tax credit for HomeBuyers who sign an agreement by April 30th, 2010 with the additional caveat of a $6,500 credit to Homebuyers who have lived in their prior residences for at least five years (all of which could receive final approval in the coming weeks): http://www.bloomberg.com/apps/news?pid=20601087&sid=aoI9KTlHpwzI

Obviously, as a REALTOR® I have a "vested interest" in the tax extension. But I also believe that every time a first-time HomeBuyer purchases a home, it has a "domino-effect" on as many as seven other real estate transactions (the Seller of the home that the first time HomeBuyer purchased now go on to purchase a new home, and so on, and so on).

All these real estate transactions have a positive effect on the ecomomy as contractors, inspectors, plumbers, electricians, home furnishings, home remodeling & building supplies, etc., etc., even state and local governments - are all effected in a big way.

It's not too often that you get to meet the original owner of a home built some 30 plus years ago, someone who worked with the architect and builder, someone with a passion for having a home built that was a departure from the norm, someone with a vision.  Well, I did. Such was the case a short while ago and it was truly an honor.

I need to point out that Gulph Mills is a very unique area with a wonderfully rich historical background, so perhaps having a bespoke home built here at 425 Arden Rd was fitting in 1977, as it would be now - as there are many unique homes in Gulph Mills that are a departure from tradition (our famed 2-story Colonial). 

It all started when the son of the original owner contacted my Seller, (an accomplished photographer in her own right with a very extensive portfolio currently teaching at an East Cost College), waxing about his childhood memories: "Hi, you have never met me, but my father designed your home. It was built after my family moved from Brazil in 1977, and sold in 1998. I am his son as I lived my childhood in that home. I always thought of it as a unique tree house and wondered what it looks like today. The place holds many fond memories for me as your art must for you. I hope you receive this and reply."

Through several communications between the Seller, myself and the son, his father contacted me with the following message:

"Hi John,

Thanks for the email. You are right about it not being a cookie cutter house with its spectacular setting and privacy.  I had often mused about flooding the valley below and turning it into a lake. The house was quite novel for its time and I believe remains so.  Colleagues at worked named the house "Magic Mountain." The pet cemetery at the top of the hill is the oldest in the US*. The beauty of the location and great construction made it all worth while.  I had put in the front and rear patios and the railroad tie walls at the top.  I built the wall at the bottom of the hill myself.  The years there were happy ones for the family." 

A week or so later, Mr. T (his name shortened in respect of his and his family's privacy) stopped by at an open house I was holding at 425 Arden Rd one Sunday and mused about life with his young family here. He had a very sharp memory of the home, the neighbors, and the area.  He talked about the architect and builders and some of the things they collectively did to make this home so unique, about his children growing up in the home, his wife using what is now the pantry as her sowing room, the conversation pit (aka "Brady Bunch Pit") in the family room, and many other wonderful things about the home and the surrounding property.  I was also glad to hear his many positive comments about the numerous updates made to the home since his departure in 1988.

Putting things in perspective, placing a numeric value on a home is a necessary function of the selling process in real estate.  At work here however is the basic fundamental principal about why most people buy homes; a home pays an annual dividend: A roof over your head and the personal enjoyment that the real estate provides.

For the family who lived at 425 Arden Rd, this house was their "home", of which no numeric value can be placed. There is no "appraised value" that can be determined for one's enjoyment of a home, the memories, the "years there that where happy ones for the family", the "place that holds many fond memories for me" as both father and son both reminisce above - about their family's "House on Magic Mountain."

 *Francisvale Home For Smaller Animals: circa 1909

SOLD! Start packing because you're going to want to move right in to this pristine, well cared-for 2-story brick/siding colonial w/front porch, a large fenced-in back yard with stamped concrete patio, an updated kitchen w/Silestone counters, cherry wood cabinets & tiled floor, dining room with chair-rails & bay windows overlooking the beautiful back yard, living room w/fireplace & crown molding, a finished basement w/powder room, laundry room & storage room, a walk-up attic, 1 car garage w/loft & a convenient breezeway front to back. Refinished hardwood floors, Pella windows, & neutrally painted tones - all enhance this beautiful home! Located blocks from the Springfield trolley station, plus easy access to Routes 476 & 1, the Springfield Mall, parks, & Phila Int. Airport. MUST SEE!

For Additional Information, Description, & Pictures, Please Go To: http://www.129CascadeRd.com

SOLD! 425 Arden Rd in Historic Gulph Mills, PA is not your ordinary - traditional, colonial home. Far from it!

...With All Brand New w/w Carpeting on the 2nd Floor & an Updated Master Bath w/Brand New Sinks & Granite Tiled Flooring. You're Very Own "Switzerland on The Main Line" - Year 'Round Vacation Location make this ultra chic, quiet retreat contemporary with beautiful views a hot spot for the artist, writer, musician, photographer, or anyone looking for something completely different.  A custom 3-level elevator will take you from the garage to your kitchen or bedroom. Enjoy cooking? You'll love the recently updated kitchen w/granite counter-tops, kitchen island & separate panty. How about a cozy living room w/fireplace or a spacious family room drenched in sunlight from the wall of windows? With many amenities too numerous to mention here, this beautiful home is a "must see" to appreciate. Convenient access to 76 & all local major routes, King of Prussia's world-class shopping & dining. This home is being sold as-is, where is. Seller will make no repairs. SELLER WILL CONSIDER ALL REASONABLE OFFERS.

For Additional Information, Description, & Pictures, Please Go To: http://www.425ardenrd.com/

SOLD! Delightful 55+ End Unit Townhouse!

• 1,971 sq. ft., 2 bath, 3 bdrm 1 1/2 story "Colonial, End Unit" - MLS® $342,500 - Move Right In!

Courtyards at Collegeville, Collegeville, PA -  This delightful open & airy end-unit w/loft boasts one of the best lots in the development embellished w/beautiful plantings front, side and back. You'll enjoy reading or just relaxing in the sun room w/its wall of windows & French doors leading to a peaceful back yard patio. Snuggle by the fireplace or watch TV in the living rm w/its custom entertainment enclave. Have a leisurely breakfast in the spacious breakfast nook, or a sumptuous dinner in the delightful dining rm. The main fl master bedroom offers an ensuite tiled bath w/Moen 5 head radial shower system & seat, plus a spacious walk-in closet. You'll also find a 2nd main fl bedroom & full hall bath, a laundry room w/cabinets & util sink, a spacious loft on the 2nd floor which can be used as a 3rd bedroom, office, or family rm; crown molding in the foyer, dining & living rms, a Christmas lighting package, Fios ready, plus much more! Convenient to major routes, restaurants, and the Providence Town Center due to open fall/winter '09.

For Additional Information, Go To: www.117LatticeLn.com

•3,884 sq. ft., 3.5 bath, 4 bdrm 2 story "Colonial" - on 1.20 Acre Lot  JUST SOLD!

16 Marshwood Dr, Woods Edge, Collegeville, PA  -  A REAL STUNNER! For the home buyer with discriminating taste & an appreciation for its numerous amenities, this 4 bedroom, 3.5 bath "suburban oasis" situated on an over-one-acre level lot has been lovingly maintained & upgraded by its original owners & is located in a community of executive style homes on spacious properties. You'll find a dramatic two story foyer w/ oak turned staircase, a large island kitchen w/recently upgraded granite countertops, a light-filled vaulted family room w/raised hearth fireplace & wall of windows, a first floor office, convenient rear staircase, a huge 2nd fl master suite w/ tray ceiling, sitting room, & custom closet, a guest suite w/private bath, 500 sq ft Ipe hardwood deck for entertaining, a central vacuum system & 3 car garage, plus much more. Convenient to major routes, regional employers, schools, shopping & the new Providence Town Center in Collegeville (due to open Fall of '09). One year home warranty included.

For Additional Information, Pictures, & "Virtual Walk-Thru Tour", Go To: www.16MarshwoodDr.com