This week I’ll be getting smarter at my Suburban West Realtors Association in Malvern, Pa. Together with my fellow Realtors, we’ll be learning more about “Responsible Real Estate In An Electronic World”.

My real estate business has been online for the majority of my career. And I can tell you that there are ethical choices that come up every day in the life of a Realtor. Sounds like a very informative course.

I confess to being an “early adopter” when it comes to Technology. Some might call me a “Sneezer”. I love to explore and share my tech discoveries. Some might even whisper the nerd word. Nah! . . .well maybe. For example, Blogsy is my new favorite iPad App that I’m using to write this post. If you like to Blog and want to be more mobile, check it out.

There is no doubt that the use of technology and social media (Blogging, Facebook, Twitter, Linkedin, etc) helps me offer a superior level of service to my clients past, present and future. There are rewards and there are risks. The phenomenal growth of Social Media is a real estate game changer that can be challenging even for us nerds early adopters.I think this is the second class and it will fulfill our NAR 2012 Ethics Course Requirement as well as meeting the SWRA License Renewal requirement for 2011-2012. 

Besides, its Summer, SWRA is air conditioned, and the chicken salad and crispy fries at Nudy’s are calling my name. What’s a Luddite? Kinda like a Troglodyte. Don’t worry. If you’re reading this, you’re probably not one.

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Hello Digital Photography Goodby MLS Books. Get Over It!

The Real Estate Listing Photograph was a very lonely creature when I first began my Real Estate Career. There was only one black and white real estate photograph that lived in the MLS Books. The MLS Books were about the size of the Yellow Pages Telephone Directory.

Today our Trend MLS and other search portals can feature up to 25 color property photos. This is a brochure showing photos of a pending sale in Chesterbrook that drew numerous showings, open house visitors and offers to purchase.

“A picture is worth more than a thousand words”, is what I always tell my Sellers

I saved this article from the Wall Street Journal. It shows not only the direction but the acceleration of changes since the days of MLS Books. And in less than a year, it shows the benefit of good photographs not just for high end properties, but in every price range. The National Association of Realtors reported last year that 98% of all Buyers begin their search online!

It’s an exciting time to be part of the changes in Real Estate as more and more people recognize the competitive advantages of good real estate photography. Judy Peterson Real Estate Photography

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*Lower Merion Township, Radnor Township and Willistown Township  have earned two Mops for their Months Supply of Inventory and Days on Market for September 2009 as compared to September 2007. Of course the market will look a lot healthier when the volume of Sold and Under Contract transactions begins to move in a more positive direction.

As you can see Lower Merion Township (Montgomery County) has the highest Days On Market, 102 DOM and the highest Months Supply of Inventory at 10.9 MSI, an increase of 8% over September of 2007 with Radnor Township (Delaware County) following close behind.  In part, a backlog of New Construction, Luxury Home Styles and a higher median sale price are the main reasons.

West Goshen and East Goshen Township are really normal looking, balanced real estate markets.

Chester County Real Estate Supply and Demand Numbers:

Number of Transactions For Chester County as a whole are down for September 2009 as compared to September 2007:

• For Sale -3%

• Under Contract -3%

• Sold -17%

We generally define a balanced market as being between 5 Months and 6 Months of Inventory. Although, as with Tredyffrin Township, we can attribute some of drop in inventory to properties having been withdrawn from the market.

*All data courtesy of Trend MLS and Terradatum is deemed accurate but not guaranteed.

Contact or call Judy Peterson, 610-889-5509, Prudential Fox and Roach Realtors Devon Home Marketing Center.

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Home Owners “Green” Tax Benefits Offer Savings Ideas Tucked Away in The First Time Home Buyers American Recovery and Reinvestment Act of 2009

You all know about the $8,000 First Time Home Buyer tax credit that’s chasing down the November 30th 2009 deadline, right?

But did you know that the American Recovery and Reinvestment Act of 2009 has a nice little tax benefit and some bright ideas for current home owners if you improve your home’s energy efficiency on items like skylights (who has a skylight that doesn’t need improving?) doors, windows, and some metal and asphalt roofs. Could be as much as 30% of the cost of the project up to $1,500.

And the “green” tax credit also covers installation costs for HVAC and gas, oil and propane water heaters through December 31, 2010.

Now I grant you it’s not 16 Billion Dollars, which is the Recovery Amount the State of Pennsylvania has to play with, but every little bit counts to most home owners in Chester County Main Line Pa, Delaware County and Montgomery County. Especially if you had some home improvements on your “to do” list anyway!

Add some geothermal goodies (heat pumps, solar energy and wind energy systems)  and you have some more bright ideas that could get a tax credit of 30% of the entire cost through December 31st 2016.

Sweet! Rewards for doing good. I like that.

Contact or call Judy Peterson, Realtor, 610-889-5509 Prudential Fox and Roach Devon Home Marketing Center for lots more Chester County Main Line Pa home buying, home improvement, homes for sale and getting your home sold home ideas.

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The 4th of July is the traditional start of Summer,  in Philadelphia and the Western Suburbs of Chester County, Montgomery County and Delaware County.

There will be many back yard picnics a few parades and some spectacular Fireworks displays for you to enjoy. I’ll be taking my best ever “secret recipe” deviled eggs to a party. Actually, I just make them the way my Mother did with a little pinch of this and that (except for the hot sauce and curry). But they really are the best ever!

Everyone likes to call their Fireworks the best ever. What do you think? Do you have a family fav?

*Philly 4th Fun, Fireworks and Parade – Philadelphia offers a week long celebration beginning June 25th with The July 4th Parade taking place this year in Historic Philadelphia starting at 11am.  Fireworks can be viewed from the steps of the Philadelphia Museum of Art on the Benjamin Franklin Parkway starting at 10:30pm

*Wilson Farm Park 4th Annual Tredyffrin/Easttown Concert and Fireworks Display at 500 Lee Road in Chesterbrook,  features Ben Mauger’s Vintage Jazz Band in a FREE concert starting at 7pm with a grand finale Fireworks Display about dusk, or 9pm.

*Radnor High School Annual Scholarship Fund Fireworks held at the Radnor High School playing fields at King of Prussia Road starting at 6:30pm on July 4th.  July 5th Rain Date. Call 610-688-5600 for more information and advance tickets, group car rates. Bring a picnic blanket or chair.

*Longwood Gardens “Fireworks and Fountains” display is truly memorable and you can see the extravaganza July 4th 9:15pm, Founders Favorites Program and 8/8/09 or you can enjoy The Magic of ABBA at 8:15pm 9/6 and 9/19/09. Buy tickets online or call 610.388.1000 X100.

*Downingtown “Good Neighbor Day” at Kerr Park with events throughout the day, a craft fair and fireworks grand finale at 9:30pm

*7/11/09 You can join the fun in Downingtown Uwchlan Township for the 11th Annual Community Day in the Lionville Park on Devon Drive 4pm with a  Fireworks Display Finale July 11th, 2009.

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The Main Line Pa Real Estate Absorption Rate Report comparison February 2008 to February 2009. Comparing  our four Lower Main Line Pa area Townships (Radnor, Haverford, Lower Merion and Upper Merion) for the Months Supply of Inventory, Days On Market, Residual Inventory (backlog) and New Listings On Market.

As I was preparing this Absorption Rate Report, I saw a tick up in the Median Listing price for some lower Main Line Pa Townships.

This would not be a good time to be increasing the Listing prices beyond what’s indicated by recent comparable sold prices and market conditions.

We’re far from being out of the swamp yet, as some of these numbers indicate.

I’m speculating that high end new construction projects could be skewing some of these numbers, but if new listing prices rise and there’s little or no correction for residual inventory pricing, we’ll be looking for more powerful images than paper towels to represent the soak up Months Supply of inventory.

PS ~ Update On Stats Minus New Construction: for example, Lower Merion stats for resales, not including new construction shows Months Supply of Inventory 7/14, Days On Market 69/124, Residual Inventory 346/321 and New Listings 119/96 comparison of February 2008 to February 2009.

Are you a Seller with an Expired Listing? Like to have a professional Comparative Market Analysis and a Marketing Plan to get your home sold? Want to see your home as a “Featured Home For Sale” on Main Line Pa Today? Contact or call 610-889-5509, Judy Peterson today. Judy Peterson is your  Chester County Main Line Pa Real Estate Expert. Real estate marketing with “Superb Service, Superb Results”!

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Comparable sold properties are the “bread and butter” of successful buying and selling homes in Chester County and the Main Line Pa area, or anywhere else. Get it wrong and your real estate bread is likely to wind up butter side down!

Why do Realtors® talk about Comps, Comparables, House Values, Comparative Market Analysis, CMA’s? What the heck is a Comparable anyway?

10 Comparable “Price The House Right” Success Tips:

1. *same style home (2 story Colonial, Split Level, Cape Style, Ranch Style, Contemporary Style, French Style, Bi-level Style, town home, condos)
2. *same number of bedrooms and baths
3. *same interior square footage
4. *same size lot and similar location
5. *same condition of amenities
6. *same neighborhood, township
7. *garage or not
8. *central air or not
9. *same school system
10. *same age

Comparable means, similar or substantially the same. Since no house or real estate property is ever exactly the same, adjustments up or down need to be made.  This is where an experienced, professional Realtor® can help you! A Comparable Sold is also a sold property in a comparable area.  And a Comparable Sold is a recent sold. It used to be no more than 1 year past.  But, in a rapidly changing real estate market like this one, a comparable sold should be more like a 6-month, past sold. Better yet, don’t forget a “sold” analysis that focuses on a “comparable” market period, instead of a volatile market. Sounds easy, right? It should be but it’s not. Why?

Real Estate Home Buyers Determine Home Values

What’s my homes value? A question I answer almost daily. In a rapidly changing real estate market the perception of “value” is also changing but home Buyers and home Sellers perceptions don’t always change at the same rate. Just remember that no matter what the market is doing, home buyers ultimately determine home values.

Judy’s Home Buyer and Home Seller Testimonials ~ My Real Estate Service~Your Chester County Main Line Pa House Value:

• Sellers – As a professional Realtor I prepare a written Comparative Market Analysis AND a statistical historical analysis of your real estate market area and the over-all market is prepared for you.
  
• Buyers -As a professional Realtor® working with first time home buyers, move up buyers and relocation buyers in Chester County and the Main Line Pa area, I prepare an in-depth analysis of the Real Estate Market with up to date market statistics that are detailed, thorough and honest. All is reviewed with you BEFORE  making an offer to purchase.

Contact Judy Peterson Chester County Main Line Pa real estate expert, to get your Comparative Market Analysis and when you need home buying and home selling help in Chester County, Delaware County and Montgomery County Pennsylvania. What’s my Chester County Main Line Pa house value? Call Judy direct 610.889.5509 at Prudential Fox and Roach Realtors Devon Home Marketing Center.

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We’ll be watching these Housing and Economic indicators and keeping you informed as to the overall condition of the Housing Industry as measured by these key National Housing Indicators as we move into Spring. This is a photograph I took last Spring of a flowering Cherry Tree, along the path of a walk with Daisy in Chesterbrook. I’m looking forward to Spring! It’s such a hopeful time!

“All Real Estate Is Local” as you’ve heard me say many times, but still these National Housing Indicators help us frame our Local Chester County Main Line Pa Real Estate Statistics as we review and evaluate our Local Real Estate Market Trends in our Market Reports for Chester County, Delaware County and Montgomery County.

• Existing Home Sales were up 6.5% in December 2008 and will update this week on February 25, 2009
• New Home Sales were down 14.7% as of December 2008 and will update today February 23, 2009
• Housing Affordability Index was at 158.8, up 15.6% as of December 2008 and will update February 26, 2009
• The Mortgage Purchase Application Index was up 9.1% to 235.9 as of week 2/13/09 and will update February 26, 2009
• Fixed Rate Mortgage Rate 5.04 and down .08 from week 2/19/09
• Consumer Confidence Indicator was down .9% in January and will update February 27, 2009

From my unofficial listening to Daily News Reporting, Open Houses,  Supermarket, friends and Daisy walking indicators, I have to say that I’m encouraged that the Consumer Confidence Indicator was only down .9%. How about you? What do you think?

Call me 610-889-5509, Judy Peterson Realtor Prudential Fox Roach Realtors for a fre Market Analysis for your property and I’ll include a a free Pre-Listing Walk Through Home Value Analysis and a copy of my 450 IDEAS TO GET YOU HOME  SOLD FASTER Report in Chester County and the Philadelphia Main Line area.

*data courtesy of National Association of Realtors.

Related Articles of Interest:

• Chester County Real Estate Market Report December 2008
  

• Delaware County Real Estate Market Report December 2008
  

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Valentines Day comes along at just the right time to warm our hearts and hearth. It’s a good time to brighten your days with some fun things to do as you dream of a Spring or a Summer stroll along the beach. Here’s my Valentine’s Day picks and some Family Fun Things To Do in Chester County and the Philadelphia Main Line Area.

January 24^th to March 31^st – visit Longwood Gardens to see the Orchid Extravaganza and view thousands of exotic flowers

January 31^st – The Colonial Theater in Phoenixville Segal Puppet Theater and “Cowboy Capers”  40 minute interactive puppet show for children 2–7.

February 14^th – First ever Valentines Day Dinner at the Conservatory in Longwood Gardens Love Blooms – Couple $275.00 for an exotic offering of Truffles, Seafood, Chocolate and Champagne with music and dancing. 7pm -11pm

February 14^th – The Radnor Hotel Valentine’s Tea for children 1pm-3pm with a craft, a story and a sing along $49.95 1 child 1 adult or try their Champagne Sunday Brunch for a treat.

Winter Getaway Packages To The Poconos where you could plan a Romantic Ski Weekend.

More Valentines Day Romantic Weekend Ideas from the Pennsylvania Visitors Network

Sunday Brunch Bunch

Try a Sunday Brunch at Riverstone Cafe in Exton and take the kids.  Up for a Chester County  drive? Try Sunday Brunch at the Historic Kimberton Inn near Phoenixville.

Family Fun Things To Do

Learn To Ice Skate at Power Play Rinks in Exton or just go for their “Free Time” Skating Fun. Or try Haverford Township’s  The Skatium and The Villanova Skating Center in Villanova.

Looking for some weekend fun things to do? Try the Oasis Family Fun Center in Glen Mills where the kids can try their rock climbing skills, an indoor playground, and play video and arcade games. Just might help with the Winter blahs.

The Franklin Institute in Philadelphia has gone high tech. You can still walk through the refurbished heart but they’ve added an amazing number of fun and educational interactive exhibits. For Chronicles of Narnia fans, the Narnia Exhibit is very well done and the Imax Theater is a real experience. Visiting Grand Children loved the day of fun at the Franklin Institute.

The Academy of Natural Science in Philadelphia Pa will enchant your little ones who love Dinosaurs

Free ideas from Crayola Crayons for crafty fun on a snowy day. You can even visit the Crayola Factory in Easton Pa (around Spring Break you’ll need a reservation) and see how crayons are made  Or, just buy a box of Crayons, the bigger the better and make some memories.

What do you think? What’s your favorite Wintertime fun things to do? Leave a comment or give me a call 610–889–5509 and ask for Judy Peterson, Realtor Prudential Fox and Roach Devon Home Marketing. Thinking about a new home? Curious about your Chester County Pa homes value? I have some good ideas about how to create a little real estate fun and entice the best buyers for your home.

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Our one year comparison of December 2007 and December 2008 for the Real Estate Market in Delaware County Pennsylvania shows that there were 5,456 homes sold in Delaware County this past year with a 2% decline in the Median Sold Price.

The key to our real estate statistics chart is red bar equals median home for sale prices in Delaware County, blue bar is median homes under contract prices and the green bar is median homes sold prices for the past year in Delaware County PA.

Delaware County Median Price -Homes For Sale, Under Contract, Sold and Expired:

Median Homes For Sale Prices were down 2% from $234,500 in 2007 to $229,900 in December 2008

Homes Under Contract Home Sale Prices were down 5% from $194,900 to $185,400 in December 2008.

Homes Sold Prices were down 8% from $215,000 in December 2007 to $196,750 in December of 2008

Expired Listing Prices were down 16% from $249,900 to $211,000 in 2008

Delaware County Supply and Demand Number of Homes Sold:

Number of Homes For Sale remains fairly level between December 2007 3,966 and December 2008 3,947

Number of Homes Under Contract was down 18% from 309 homes under contract in December 2007 to 254 homes under contract December 2008

Number of Homes Sold was down 21% from 417 in December of 2007 to 330 in December of 2008

Delaware County Months Supply of Inventory and Absorption Rates:

Months Supply of Inventory is up 73% in Delaware County from 10.1 months to 12.5 Months. The Gray Bars on my statistics chart represent the Months Supply of Inventory and the blue line represents the growing Days On Market in Delaware County Pa.

Days On Market is up 15% from 76 DOM to 88 DOM

*data courtesy of Trend MLS and Terradatum is deem accurate but not guaranteed.

Call or email Judy Peterson, Realtor Prudential Fox and Roach Realtors Devon Home Marketing Center 610-889-5509 direct. Have a real estate question? Want to know what your neighbors home sold for? Looking for great real estate homes value and marketing ideas to increase your “sold success”? Call now!

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