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Inquirer real estate writer Alan J. Heavens is the author of “Remodeling on the Money” (Kaplan Publishing). His home improvement column appears Fridays in Home & Design.
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The Philadelphia Inquirer
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Haven
Resisting the lures of lenders A
rden Hander of Meadowbrook, like thousands of homeowners who had their mortgages originated by ABN Amro, now has his loan serviced by Citimortgage, which took over the Netherlands-based lender’s portfolio a few years back. There’s nothing unusual about that. W h a t ’s more, Hander fits into that group — 75 percent of people who borrowed to buy a home — with problem-free loans. The Handers’ mortgage, taken out in March 2003, was a standard 20 percent down and originally for $297,000. The amount had decreased to $262,000, and not a single payment was ever missed or late. “We had whittled the amount down by $35,000 by rounding the monthly payment up against the principal, which continues,” said Hander, who is retired after a 40-year college-teaching career. His wife works part time in the medical-billing department at Abington Memorial Hospital. They have credit scores of 669 and 749. Their monthly payment started at $2,300, but escrow adjustments have raised it to $2,500. The interest rate is and has been 6.125 percent, which was low in early 2003. Their custom house would list in the “very high $500,000s or even more,” Hander said. Looking at their interest rate, and the 4.5 percent available now, the Handers talked about refinancing “but never did anything about it.” That is, until they began getting “relentless calls” from someone who identified herself only by her first name and said she was from Plymouth Meeting. The woman “would only speak to my wife, who was never available,” Hander said. Finally, about six weeks later, the connection was made, and “my wife listened to her spiel.” The woman was a loan officer from a lender — I know which one, but all of them have been doing this, so insert your favorite one here. Hander already had been informed See ON THE HOUSE on J7
SECTION
Top Dollar
Creating the home you love
Homes with the highest selling prices in the region.
$1.83 Million
CHARLES FOX / Staff Photographer
3135 Rushland Road Wrightstown Bucks County Settlement date not available
$1,350,000 1005 Whitegate Road Upper Merion Montgomery County Settlement date May 26
CHARLES FOX / Staff Photographer
Michael and Shari Wiglesworth in the backyard of their Glenside home, designed by Thomas J. Mangan,
a disciple of modernist Marcel Breuer. The couple’s most dramatic alteration: The majestic waterfall.
Midcentury-modern living
$1,250,000 15 N. 35th Avenue Longport Atlantic County Settlement date May 26
They fell in love with the Philly region and its architecture — especially their Breuer-esque home.
$1,241,420 128 Ayrshire Drive London Britain Chester County Settlement date April 5
By Eils Lotozo
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$1,162,500
FOR THE INQUIRER
ichael Wiglesworth concedes he was a bit of a snob when he and his wife, Shari, first arrived here from Manhattan 10 years ago. “I had my nose in the air,” says the longtime adman, who spent a dozen years in New York with the storied J. Walter Thompson agency before coming to Philadelphia for a new job in advertising. “Since then, I’ve fallen in love with Philadelphia,” he says. “It’s one of the most beautiful cities in the world. Architecturally, it’s got everything.” Wiglesworth’s love affair with this area began when the couple, who had always lived in high-rises, decided to look for a suburban house. The search led them to a home designed by renowned architect Louis Kahn. Entranced, the couple made an offer, but the seller changed his mind at the last minute. “After that,” Michael says, “I knew what I really wanted was a modern house.”
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3406 Ventnor Avenue Longport Atlantic County Settlement date May 26
$1,100,000 220 Bollinger Road West Nantmeal Chester County Settlement date April 28
$1,050,000
The ground-level library/media room was given a grid of white shelving.
1 Blakely Road Haverford Delaware County Settlement date not available
Throughout the sleek bi-level built into a hill are midcentury touches.
They found one in Glenside, a sleek, bi-level, glass, stone, and stucco structure built into a hill, that had been designed by Thomas J. Mangan, a disciple of modernist architect Marcel Breuer. “There are very few modern houses around here,” says Michael. “So this was pretty daring when the original owner built it in 1961.” Seriously worn and never updated, the house needed major TLC. Undaunted, the couple
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camped out there while Michael undertook a renovation, doing all the design work and most of the construction himself at night and on weekends. Fortunately, he’d had plenty of experience with fixer-uppers. “I’ve renovated and sold about 12 houses over the years,” says Michael, who loved the process as much as the profit. “It was kind of like a hobby.” During the five years he worked on the Glenside house, See HAVEN on J2
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$960,000 3404 Ventnor Avenue Longport Atlantic County Settlement date May 26 Sales recorded March 15-June 4.
Inside: Real Estate Transactions throughout the region.
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