LUXURY HOMES & ESTATES of Greater Philadelphia
Presented by Don Dowd RE/MAX Main Line Cell: 610-497-2000 Office: 610-692-2228
See Page 12
Volume 5, Issue 1. Reserve your ad space today, call Garrett Smith at 610-844-5245.
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Mitchell Media Group LLC Staff Publisher: Scott H. Mitchell
LUXURY HO
Editor & Copywriter: Christopher DeGroot
MES
of Greater Ph
Copywriters: Greg Narajka
& ESTATES
iladelphia
Graphic Design & Layout: Karen Weaver Online Content: Josh Passiotti Advertising Sales: Garrett Smith, Philly Suburbs Nancy Smith, South Jersey Tony Petralia, Jersey Shore Points Distribution: Dennis Chambers, Pennsylvania John Tull, New Jersey Printing: NewPoint Media Group Published By: Mitchell Media Group LLC 922 S. Woodbourne Road Suite 223 Levittown, PA 19057 www.LuxuryHE.com
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Presented Berkshire by Michae Hathaway l Sivel HomeSe Cell: 215-38 0-1296 Off rvices Fox & Roach, Volume 5, RE ice: 215-24 Issue 1.. Res erve your 8-6540 Se ALTORS® ad space toda e Page 2 y, call Gar rett Smith at 610-844
-5245.
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The Real Estate Book of Philly Suburbs, PA The Real Estate Book of South Jersey, NJ
All Rights Reserved. Trademarks Protected. Copyright © 2015 Mitchell Media Group LLC. *Text codes are powered by The Real Estate Book. *We are not responsible for typographical errors. *The information contained herein is deemed reliable but we cannot guarantee its accuracy. *The views and opinions expressed in this publication are not necessarily shared by the publisher, owners, affiliates, or advertisers.
Coverage Area & Distribution Network This publication reaches as far west as Harrisburg, as far east as the Jersey Shore, as far north as the Poconos, and as far south as the Maryland and Delaware state borders. You may also access the digital version of this magazine from anywhere in the world at www.LuxuryHE.com.
“All real estate advertised herein is subject to the Federal Fair Housing Act which makes it illegal to advertise any preference, limitations, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin, or intention to make any such preferences, limitation, or discrimination. We will not knowingly accept any advertising for real estate which is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.”
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Mitchell Media Group LLC From the Publisher Mitchell Media Group is proud to launch Luxury Homes & Estates of Greater Philadelphia, which we hope will become our flagship publication serving the Greater Philadelphia metropolitan area. This publication is a re-launched version of Luxury Homes & Estates of The Main Line. In print for five years, that magazine was well-known for bringing useful information about the real estate market to buyers, sellers and the public generally. Having continued to do the same, publishing The Real Estate Book of Philly Suburbs and The Real Estate Book of South Jersey and our websites www.realestatebook.net and www.LuxuryHE.com, Mitchell Media Group is excited to re-launch the magazine with a fresh look, a new format, and a larger geographic market: a sign, perhaps, that our real estate market is improving. Luxury Homes & Estates of Greater Philadelphia is a quarterly publication with seasonal themes. The primary focus is on million dollar and multi-million dollar properties in the Greater Philadelphia region - from the Main Line to the Jersey Shore. We will profile exclusive properties, including homes, estates, and farms. We will bring our readers interesting commentary and knowledge about the real estate market. There will also be occasional articles on leisure and culture; for example, this issue’s article on seasonal tourism and spring/ summer activities. In our commitment to these goals, we have brought in a professional writer and editor to ensure the magazine meets the highest standards of excellence. I am happy to introduce Christopher DeGroot as our new Editor & Copywriter. Christopher will be managing all of our editorial content and overseeing the work of our freelance writers. The author of Central Pennsylvania: Our Time Has Come (a large coffee table book written to promote the region), Chris comes to us with a wide range of professional writing and editing experience, including journalism and reporting for The Spirit (a weekly newspaper serving Delaware County), various work for Rodriguez and Associates (a consulting firm in early childhood development education), and a long list of freelance work. It is an exciting time in the greater Philadelphia area. For the first time in decades, the city is growing in population, a fact that is reflected by the tremendous recent development in the city proper. Many young professionals and families are finding the City of Brotherly Love, the Philly suburbs and South Jersey to be excellent places to live and work. Luxury Homes & Estates of Greater Philadelphia will keep you informed of the state of the real estate market as more and more people choose to settle in our vibrant region. Future editions of the magazine will include a section for feedback from readers like you. We want to hear from you and Christopher welcomes your ideas and suggestions for future article topics, so please feel free to e-mail him at Editor@LuxuryHE.com. All the best, Scott Mitchell LuxuryHE.com - 3 19610.5.1.003.indd 1
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KAREN BOYD
ASR, ASP, Relo Certified
610-280-2521 Karen.Boyd@LNF.com
www.ChesterCountyBlog.com
ACCREDITED LUXURY HOME SPECIALIST (ALHS)
610-280-4050 Long & Foster Real Estate, Inc. 650 W. Uwchlan Avenue • Exton, PA 19341
Text P549052 to 85377
NEW LISTING! In “Haverhill Estates” Chester Springs! The perfect combination of superb craftsmanship and inspired styling, this Chester Springs home is ideal for every-day living plus unlimited entertaining possibilities! It can all be yours---including over $100,000 in new upgrades and enhancements; Downingtown East & STEM schools; and just minutes to the PA Turnpike/major routes/shopping/parks/more! 5 Bdrms; 4.5 Baths; FR; LR; DR; bonus Study & huge Solarium. Redesigned Kitchen w/granite & upscale appliances. Hardwoods, custom millwork, designer lighting throughout. Finished Lower Level w/custom pub bar; Game Area; TV/Media Area. 3-Car Garage & almost 2 Acres of quiet yards with 2 Patios. www.1001Mulberry.com Offered for $765,000. Text P639760 to 85377
NEW LISTING! In “Swedesford Chase” Exton! Such an inviting home and lush yards & gardens backing to trees---the ultimate in both refined living and dynamic entertaining spaces! This brick federal home is located in the desirable “Swedesford Chase” neighborhood and is around the corner from shopping, dining, parks, train station plus Routes 100/202/Philly/DE/shore points/more! 5 Bedrooms; 3.5 Baths; Family Rm; Living Rm; Dining Rm; Office/Study. Eat-in Kitchen plus Breakfast Area. Finished Lower Level has Game Room plus TV/Media Room and ample storage. Oversized expanded Deck has steps to the flat & grassy yards; 3-Car Garage. West Chester Schools & low taxes! www.402Bowen.com Offered for $659,900.
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Page 2 - Real Estate Professionals Open All The Right Doors - Vol. 19, No. 10
The State of Philadelphia Metro Real Estate
By Greg Narajka, Copywriter
A January, 2014 report from the Fels Institute of Government at the University of Pennsylvania declared that “after 6 years of declines, the recovery is here.” A line chart presented virtually uninterrupted gains in home prices for metro Philadelphia throughout 2013, and other positive economic indicators were brought forth in support of the recovery’s reality. Homebuilder confidence & housing-related stocks were up, and home sales were showing signs of life. Was the optimism warranted? Growth in 2014 was positive overall, with Zillow. com’s Home Value Index increasing over 3%, but it was less consistent. Jeff Silva, greater Philadelphia realtor and head of the Jeff Silva Team, reported in a January blog that while bad weather impeded market growth early in the year, “sales really took off in April and May. Things slowed down in the fall, but picked back up again in November, and the market has been pretty active ever since.” More recent statistics from Long & Foster show that the rush of activity continued into February. Though total units sold decreased by 5% as compared to January, the February number still represents a 15% improvement over home transactions a year ago. Montgomery County, in particular, saw an increase of 23%. The region’s real estate inventory numbers serve as another indication of the market’s health. Long & Foster reports: “Levels of active inventory decreased in most parts of the region in February,” and this by an average of 3%. Lower inventory is traditionally a good sign for real estate markets.
What does this mean for prospective home buyers? Mike Sroka, a realtor in the Philadelphia region, says in a recent video blog that “most people are going to want to buy right now.” According to Sroka, a recent survey of real estate experts “suggests that home values will appreciate 10-25% in the next five years,” & that current forgiving interest rates are projected to rise. Not everyone echoes this entreaty to buy, however. Another area realtor, John Duffy, predicts in a recent Philly.com article that interest rates will show little movement in 2015, & that home appreciation will be less impressive than Sroka suggests. As a result, he believes prospective buyers will be in no hurry. Zillow.com has made predictions about home values that seem to be more in line with Duffy’s prognosis. The popular real estate website projects that home values will rise by just 1.6% within the next year. Zillow’s predictions for individual counties in the metropolitan area mostly ranged from one to two percent, though the projected growths in Chester and Camden (NJ) counties were 2.1% and 0.6%, respectively. The luxury home market is telling a somewhat different story than the metro market at large. The Philadelphia Business Journal reported in March that prices of Main Line homes valued above $1.5 million “are off by 10 or 15 percent,” & that sales “have declined by nearly 50 percent from their peak in 2006.” The Journal cites “older housing stock” as a possible contributor to the downward trend, but notes that another important factor may be a shift of home buyers to Center City, where luxury residential transactions more than doubled from 2005 to last year. It bears noting that the Main Line is not suffering across the board; according to the same Journal, homes in the $600,000 to $1.1 million range “seem to be a sweet spot in the market, with bidding wars breaking out on them and sales happening within days of a property being listed.” The overall health of the metro real estate market is difficult to assess, especially with certain counties in the region faring significantly better than others, but there are a few all-in-one numbers available. Of seventy-five markets in the United States, PricewaterhouseCoopers and the Urban Land Institute rank Philadelphia 27th in “Overall Real Estate Prospects,” a measure which takes investment, development, and homebuilding into account. Zillow’s Market Health Index gives the metro area a score of “Less Healthy,” but several counties received scores of “Stable” (Cape May, Gloucester), “Healthy” (Montgomery, Bucks), and “Very Healthy” (Chester). There is considerable inconsistency here. What seems to be consistent is the opinion that the metro real estate market will belong to buyers in 2015.
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Spring Time In Philadelphia By Christopher DeGroot, Editor & Copywriter One of the coldest winters on record has finally given way to spring. The return of the warm weather is very welcome, and people throughout the greater Philadelphia area are no doubt looking forward to getting away from work and getting out to enjoy life. Fortunately, our region is rich in history and outdoor activities, offering many options in the way of recreation and entertainment.
A greenwall and conservatory plaza,
What better place is there for lovers of history than Independence Hall? one of many beautiful displays at Longwood Gardens. Situated on the south side of Chestnut Street between 5th and 6th Streets, this gem of Georgian architecture affords a fascinating and instructive look at our nation’s origins. Here liberty-loving representatives met to argue about and eventually sign both the Declaration of Independence and the Constitution. Among other places, the guided tour takes you through the Assembly room, where both founding documents were signed, and which is still as it was during the Constitutional Convention. The West Wing displays the original inkstand used to sign the Declaration and an original draft of the Constitution. There is the Long Gallery, where visitors met with Pennsylvania’s governor and people came together for dinners and celebrations. Also of interest is the Governor’s Council Chamber. Pennsylvania’s Supreme Executive Council met here in the 18th century. It was also the sight of fugitive slave trials in the 1850’s. And you can still see, among other notable things, the surveyor’s tool used by Charles Mason and Jeremiah Dixon to determine the boundary between Pennsylvania and Maryland. And of course, there is the majestic Liberty Bell, with its lofty inscription from Leviticus 25:10: “Proclaim Liberty Throughout All the Land Unto All the Inhabitants thereof.” The bell, an internationally-recognized symbol of freedom, used to ring in order to summon lawmakers to meetings and to call the townspeople together to hear the reading of the news. A pleasant bike ride by the National Memorial Arch at Valley Forge National Park.
If you love nature, be sure to take a trip over to Longwood Gardens in Kennett Square. Here you can see 1,077 acres of tulips, dogwoods, wisteria, native azaleas, columbines, snapdragons, bluebells, and much more. There are benches overlooking fountain gardens and a profusion of lovely colors and pleasant fragrances. During Spring Blooms, which runs through the end of May, you can marvel at the sight of 240,000 tulips. The Idea Garden, a five-acre display of lush plant colors & interesting textures, is also very enjoyable. Then there is historic Flower Garden Walk, with vibrant colors stretching ahead so far ahead as to seem endless. The annual Manayunk Arts Festival is another fun activity to look forward to. Held on June 20-21, from 11 a.m. to 7 p.m. on Saturday and 11 a.m. to 6 p.m. on Sunday, there will be all sorts of arts and crafts, not to mention food, drinks and music. Artists from across the country will be selling ceramics, photography, wood and sculpture, painting and drawing, and jewelry. It all happens on Main Street, where there are many excellent restaurants, some of which can be counted on to give out free food.
Pope Francis will make his much-anticipated visit to Philadelphia on September 25 – 27 for the Eighth World Meeting of Families, being held for the first time in the United States, and fittingly, in the birthplace of the nation. The Festival of Families, a celebration of the importance of family life, is on Saturday, September 26, followed by a Papal Mass on Sunday, September 27. These events will take place on the Benjamin Franklin Parkway and are open to the public. Valley Forge National Historical Park, at Route 23 and North Gulph Road in Valley Forge, is a great place for lovers of history and the outdoors. An array of tour guides, naturalists, speakers, and panel discussions can teach you all about the sight’s vital role in the American Revolution. You can also use the 3,500 acres for having a picnic, taking a pleasant stroll, or getting in a hard workout on its 20 miles of trails. Neat gifts and souvenirs are available at the Encampment Store in the Visitor Center, where there are also many interesting hands-on exhibits and startling artifacts. Finally, there is the Jersey Shore, including Atlantic City, where there are casinos, spas, concerts, fine restaurants, a seven-mile boardwalk, golf, and water sports. Ocean City, a family-oriented beach, is just a few miles away. Highlights include amusement park rides, waterpark rides and the Ocean City Music Pier. Long Beach Island (LBI), all 18 miles of it, is full of things to do. Barnegat Lighthouse, at the north end of A superb aerial view of Long Beach Island. LBI, is a 150 year old lighthouse that continues to draw people who walk all the way to the top to see the majestic view. Other popular LBI activities include boating, fishing, birdwatching, parasailing, live theater, and crabbing. So, from history to good food and music to the outdoors, the greater Philadelphia area has a lot going on—this touches on only some of them. Among other options, there is the Franklin Institute, the Broad Street Run, the Philadelphia Zoo, the Camden Aquarium, and Six Flags Great Adventure. Whatever it is you like to do, be sure to get out and enjoy life!
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Carolanne Helverson, CRS, GRI Broker/Sales Representative
At The Shore 2809 Dune Drive Avalon, New Jersey 08202
Office: 609-967-4800 Each Office Independently Owned and Operated
Robert C. Helverson Broker/Sales Representative
Cell: 609-425-8941
Carolanne@AvalonRE.com Robert@AvalonRE.com
STUNNING SEA ISLE CITY OCEANFRONT 6609 Pleasure Ave, Sea Isle City
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Cell: 609-425-8940
Capture summer your way in this wonderful 5 bedroom 4 bath OCEANFRONT Townhome in a popular neighborhood of Sea Isle City. Designed by "Jeff Castle Custom Homes" the unique floor plan allows for 5 levels of living space to gather and entertain or quiet rooms to escape to for privacy. A peninsula bar & center island breakfast bar graces the open concept kitchen, living & dining area. Step into the spacious living room with cathedral ceiling and gas fireplace, and the sight and the sound of the ocean pulls you right back outside. From the deck you have unobstructed ocean views north and south, with the coastline of Avalon in the distance. There are hardwood floors throughout, new stainless steel refrigerator and stove/oven, four decks and a garage. The living room has been re-furnished and expertly decorated by Carol Harvey, and the exterior home has repainted doors and fresh landscaping. Only 60 feet to the beach path and with endless views, this is more than a summer home - it's a house for all seasons. And when you compare other beachfront south end values, you'll appreciate the remarkable price on this one. So grab the brass ring and be where you've always wanted to be! WELCOME HOME! $1,299,000 LuxuryHE.com - 7 19610.5.1.007.indd 1
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This is a once in a lifetime opportunity.
Situated on 20 acres, impeccable craftsmanship meets ease of living in this custom built, 12 yr old home. The kitchen is a cook’s delight w/a wall oven & warming tray, 6 burner stove top w/double oven, subzero fridge & 2 sinks. The booth in the kitchen was custom built to make its functionality match its elegance. The living room & family room are joined by a double-sided fireplace/wood stove. Track lighting in each of the ceiling trays. Upstairs, the master BR provides his & her walk-in closets & a master bath w/ porcelain soaking tub. Additionally, there are 2 BR joined by a Jack & Jill bath & 4th BR/bonus room complete w/a full bath, perfect for an au pair or guest. Implements geothermal heating, a back up generator, & is protected by a whole house sprinkler system. Part of what makes this home so exceptional is its location. Wooded rural setting, w/a rare combination of privacy & space, while still being just minutes to the new turnpike entrance & shopping. Each room in the house has expansive windows that frame the landscape beautifully. Cricket Knoll is where you will be happy! Text T11878492 to 85377 for more info. MLS# 6539585 $1,449,000
Dara Crane Business: 484-875-2600 Direct: 484-875-2556 Cell: 484-678-7065 Dara.Crane@foxroach.com www.thelundmarkgroup.com
LUXURY HOMES & ESTATES of Greater Philadelphia
To Advertise In This Magazine Or In Any Of Our Publications, Please Contact:
Garrett Smith
Philly Suburbs Market 610-844-5245
Garrett@realestatebook.net 4 8 - LuxuryHE.com 19610.5.1.008.indd 1
Nancy Smith
South Jersey Market 609-351-5694
Nancy@realestatebook.net
Tony Petralia
Jersey Shore Points Market 609-305-2030 Tony@realestatebook.net
For all your real estate needs… Homesale.com
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Legal Briefs
By Christopher DeGroot, Editor & Copywriter Buying a home, for many people, is the most significant purchase they will ever make. Plus, finding a home that suits you is difficult because real estate transactions involve many intricate property and contract laws, which are regulated by federal and state statutes and by common law. It is very important, then, to be well-informed when it comes to just what to do and what not to do in real estate transactions. I recently had the pleasure of interviewing Richard Kravetz to get his views on these matters. An MBA and an attorney at law, he has considerable experience as a real estate professional, having been a consultant for businesses on topics ranging from labor and employment law to contract formalities and establishing efficient internal compliance programs. CD: Richard, can you explain the must-dos in real estate transactions?
Richard Kravetz Esquire
RK: Make sure it’s in writing. Virtually every state has a law requiring certain types of contracts to be in writing; most notably, the statute of frauds, which provides, in essence, that all conveyances of an interest in land must be in the form of a signed writing, in order to be enforceable in a court of law. This applies not only to conveyances of fee simple title, but also to purchase and sale agreements and brokerage and listing agreements. So a good rule of thumb is “everything must be in writing.” Know what’s in the deed. In real estate, a deed is a legal document that evidences a change of ownership. It allows for the insertion of restrictions, exceptions, special conditions, and covenants of general or special warranty. It is therefore important to make sure that the transfer of real property represents the intentions and meets the expectations of the parties to the conveyance. Find the right help. Having a professional such as an attorney or Realtor assist in the process can help you avoid legal trouble and save you thousands of dollars. Most of all, select the right Realtor. Although the National Association of REALTORS® regulates advertising guidelines, it is still possible to be duped by misleading advertisements. So, I would urge both buyers and sellers to do their homework and interview several Realtors before signing an agreement and engaging anyone’s services. Be sure to check that the Realtor: associates with a reputable brokerage; specializes in the kind of property you are looking for; understands the market and surrounding neighborhoods; and has a good track record. CD: Thank you, Richard. And what about the don’ts, that is, things to be sure to avoid? RK: Don’t assume you’re dealing with the sole owner. One cannot sell what one does not own. Assuming the seller has the authority or even sole authority to negotiate and enter into a real estate purchase and sale agreement is foolish and may leave you unpleasantly surprised. Be patient and diligent in your search for the legal owner. The time and effort you invest early on may save you embarrassment and money later. Don’t fail to clearly indicate which items are included in the sale. In order to avoid spending time and money litigating on whether an item was intended to be part of the sale, it is wise for both buyers and sellers to execute their intentions in a written addendum to the purchase and sale agreement. All too often they rely on oral assertions during negotiations, incorrectly assuming that they don’t have to put things in writing. As a former real estate professional, I would always advise my clients to remove all items not included in the sale, so the buyer could never get the wrong impression. Don’t turn a blind eye towards disclosures. Sellers must disclose problems that could affect the property’s value or desirability. Moreover, some states’ laws identify certain problems that must be searched for, regardless of whether there were prior signs of trouble. In order to avoid liability and meet your state’s standards for disclosure, it is best to err on the side of disclosure and consult with your attorney or Realtor.
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This publication reaches as far west as Harrisburg, as far east as the Jersey Shore, as far north as the Poconos, and as far south as the Maryland and Delaware state borders. You may also access the digital version of this magazine from anywhere in the world at www.LuxuryHE.com. PM 4/26/15 8:50
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Marketing A Luxury Property By Christopher DeGroot, Editor & Copywriter Marketing a luxury property is a very particular endeavor that, accordingly, requires a very particular approach. Michael Sivel is a Realtor who specializes in luxury properties. I had a chance to speak with him recently about exactly how to go about marketing your luxury property. CD: What should people know when it comes to marketing their luxury property? MS: The most important thing, no doubt, is picking the right Realtor - they’ll have a unique grasp of the market and so be able to guide sellers through all phases of listing a home, from pricing to negotiating the best deal. Selecting the right Realtor can not only be the difference in saving thousands of dollars; it will also prevent a lot of stress. And only a luxury Realtor knows all the ins and outs of this specific market. CD: Thank you, Michael. I’m sure our readers will appreciate that information. Is there anything else they should know? MS: Yes, while picking the right Realtor is the most important part of the process, there are other things that are also critical. I call these the “three Ps.” Preparation: from cleaning to decluttering, from freshening up the paint and taking care of the landscaping, be sure the home is completely ready for market. Photos: in choosing the right Realtor, see how they present other similar styled homes; and make sure they use the right photographer: most buyers start their search online, so photos are your first chance to showcase the property. Price: making sure the home is priced properly is extremely important - overpricing a home will likely lead to extended time on the market and a lower sales price.
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Michael Sivel The Sivel Group, 196of 07.2 0Fox .3.00& Roach, REALTORS® Berkshire Hathaway Home Services 1.qxp _ ive 19118 8400 Germantown 19607.20.2.001.qxp_LiveEditCover 1/21/15 2:31 PM Page 1Ave, Ste 2, Phila, LPA EditC over Office: 215-247-3750 • Direct: 215-248-6540 • Cell: 215-380-1296 2/12 /1 michael.sivel@foxroach.com • www.SivelGroupLuxury.com 5 7:31 PM
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GARY VERMAAT
President Broker of Record
856-428-9677 Ext. 243
REALTORS®
www.lvlrealtors.com
NINETY TANNER STREET • HADDONFIELD, NEW JERSEY 08033
HADDONFIELD Fantastic 5 Bedroom, 3 full & 2 partial bath stone home, features include a formal Living Room, Dining Room, kitchen with breakfast room, Sun Room, office/library, great master suite, finished basement, 2C-garage. Much more! Offered for $1,100,000. Call Gary Vermaat at 856-428-9677 x243. Text T1599915 to 85377 HADDONFIELD 6 BR, 7 BA. Entertainment/LR w/wet bar, custom designed main kitchen w/ state of the art appls, FR w/all brick FP, 1st flr guest ste, each BR has its own BA. 2nd flr 50’s style full kitchen, gym, state of the art theater w/theater seats, screen, stage & storage rm. Basement, garage, 10’ ceilings. Offered for $1,495,000. Call Gary Vermaat at 856-428-9677 x243. Text P669525 to 85377 HADDONFIELD GILL TRACT. Wonderful Tuscan Style home features 4BR, with one being a huge master suite, 4 full & 1 partial baths, formal LR & DR, kitchen w/breakfast area, FamRm, study, GameRm, 4 Fireplaces, 2C-detached garage & more! Offered for $980,000. Call Gary Vermaat at 856-428-9677 x243. Text T1591929 to 85377 LuxuryHE.com - 11 19610.5.1.011.indd 1
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RE/MAX Main Line List with DON DOWD and have your home appear here! Fine Homes & Luxury Properties
Just Listed! Edgmont $949,800 Summerhill Development
Coming Soon! Media $799,900 New construction
UNDER CONTRACT
Coming Soon! New Construction Glen Mills Garnet Valley Schools
Under Contract
Upper Providence
DON DOWD • Cell: 610-497-2000 • Office: 610-692-2228
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