Tredyffrin Township Condos And Townhomes
July 29th, 2011 categories: Chester County, Chesterbrook, Financial, Market Trends
Good To Be A Tredyffrin Townhouse Buyer
If you are a Townhouse or a Condo Buyer or Seller in Tredyffrin Township you will have seen the most real estate activity in all of Chester County Pa in the past 12 months. There were 354 units sold in Tredyffrin, followed by 195 sold in Phoenixville, 188 in East Goshen Township and 186 in West Goshen Township. Inventory is moving, however Sold prices for townhouses and condos are down 4% since June of 2010.* Read the rest of this entry »
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Home Buyer Tax Credit Done When Obama Signs
November 5th, 2009 categories: Financial, First Time Home Buyers, Home Buyers, Home Sellers
Expanded Home Buyers Tax Credit Voted Up By Senate and House Today
Just today the United States House of Representatives voted 403-12 to extend and expand the Home Buyers Tax Credit.
The National Association of Realtors has provided this helpful document summarizing the details of the new Home Buyers Tax Credit.
Following the 48-0 vote by the United States Senate yesterday, and remembering our civics lessons, the Home Buyer Tax Credit will become law effective on the date that President Obama signs the bill. Read the rest of this entry »
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First Time Home Buyer Tax Credit Cliff Hanger
October 30th, 2009 categories: Financial, First Time Home Buyers, Home Buyers, Home Sellers, Market Trends
First Time Home Buyer Credit Cliff Hanger . . . To Be Continued!
The Senate is working on approving The First Time Home Buyer Tax Credit Extension. Part of the proposal is to Expand The Home Buyers Credit for existing home sellers/home buyers but so far there is no Senate Vote. Possibly next week there may be a vote ready to go to the House and from there who knows?
From Soap Operas like Days of Our Lives (“tune in tomorrow for the next exciting episode”), to Dallas, we’re drawn to cliff hangers. Who didn’t tune in to find out, Who Shot JR? Read the rest of this entry »
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Tredyffrin Third Quarter Real Estate Absorption
October 20th, 2009 categories: A Realtors Life, Chester County, Financial, Home Buyers, Home Sellers
Mops, Sponges and The Months Supply of Inventory
The Third Quarter Tredyffrin Real Estate Absorption Rate is looking more like a normal real estate market instead of one drowning in inventory.
Some months I have felt like I needed a huge mop to soak up the excess inventory. And in some markets that’s still the image that resonates.
But here in Tredyffrin Township for the Third Quarter Real Estate Market, we’re showing signs of recovery. The months supply of inventory is down to 5.6 months. Keep in mind that the MSI and the Absorption Rate is based on the assumption that no new inventory is coming on the market, which is never the case.
The Months Supply of Inventory and Absorption Rates are averages, so there are definitely properties selling within days and even some with more than one offer and others, especially in luxury home price ranges, that are languishing. Read the rest of this entry »
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Blog Action Day 2009 Global Climate Change Think Small
October 15th, 2009 categories: A Realtors Life, Financial, Lifestyle, Market Trends
Blog Action Day
2009 l Climate Change
Today is Blog Action Day 2009 l Global Climate Change is the topic that Bloggers around the world have agreed to write about with the goal of raising awareness on one critical issue that impacts each of us. Climate Change and Climate Control are big issues! Big enough to be overwhelming. But we need to resist the temptation to do nothing. We each need to accept responsibility for the future our planet in big and small ways.
I’m a proud Mom who’s often inspired by my two children and 3 precious grand children. As a real estate agent I spend my professional life helping families. And so it’s no surprise to me that our children and young people are the hope of our future. We need to educate ourselves as well as support and follow the efforts of our Children For Climate Change.
When my children were young they loved the children’s literature from a series called, “The Borrowers” by Mary Norton. The Borrowers were a secret Read the rest of this entry »
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Tredyffrin Real Estate August 2009 Report
October 2nd, 2009 categories: Chester County, Financial, Home Buyers, Home Sellers, Market Trends
There are no shortage of opinions about our current real estate market. Just about everyone has become a real estate prognosticator.
I will say that I’ve never seen anything quite like this market in my 18 years as a Realtor. More than usual, the Buyers and Sellers appear to be marching to the beat of a different drummer. This is apparent in the disconnect between the August increase in the Median For Sale Price and the drop in the Median Sold Price and Under Contract Price.
From the 5% median For Sale price increase of $439,900 over the August 2007 Median For Sale Price of $419,500 to the 6% Median Sold price drop ($435,000) in August 2009 as compared to August 2007 Median Sold Price ($462,450), it appears that, at least here in Tredyffrin Township, Buyers and Sellers perceive the market direction very differently. Read the rest of this entry »
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Regulation Z Revised TILA Disclosure
September 2nd, 2009 categories: Financial, Home Buyers, Home Sellers
The Truth In Lending Act of 1968 (TILA 1968), also known as Regulation Z was designed to protect consumers by requiring full disclosure of all lending fees to a potential buyer prior to purchase and settlement.
How Will Amended Regulation Z Changes Affect Buyers and Sellers?
Regulation Z has recently been amended, and will apply to loan applications filed on or after July 30, 2009. It’s a law and a fairly complex one at that. I included the full amended link here.The tiny print just reminds me to get my eyes checked.
“Say What?” is a fairly common response to the question of, “How are you preparing to respond to the new provisions of Reg Z?
Highlights of Regulation Z Changes Effective July 30, 2009:
Here are the simple bare bones highlights of the Regulation Z changes. And just for fun let’s start with the “fly in the ointment” provision in item 3 below, since not all readers will bother clicking to the second page (you know who you are ;-).
- Your Lender must give you a TILA good faith estimate within 3 business days after you apply for a loan. No other fees except for a credit report can by collected by your Lender at this time.
- There is a 7 day waiting period before you can close on a property, after you receive your TILA good faith estimate, known as the “early disclosure” period.
- If the annual percentage rate (APR) changes by .125 percent, your lender is required to give you, the borrower, a new TILA Disclosure AND the Lender and the Borrower must wait an additional 3 Business Days before closing the loan. As a borrower you need to know that the Annual Percentage Rate includes other costs related to settlement, not just the interest rate. Think about that for a minute, an Read the rest of this entry »
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Home Owners Green Tax Incentives
August 27th, 2009 categories: Chester County, Delaware County, Financial, Home Sellers, Montgomery County
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. Read the rest of this entry »
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Chester County Real Estate July Market Report
August 24th, 2009 categories: Chester County, Financial, Market Trends
Chester County Real Estate Market Activity-July 31, 2009*
Our July 2009 Real Estate Market Statistical Report compares the Chester County Real Estate Market Activity for July 2007 to July 2009 for Chester County Homes Sold, Chester County Homes For Sale, Median Sold, Chester County Median For Sale and Median Under Contract Real Estate Pricing.
The National Association of Realtors® reports in the NAR National Existing Home Sales Report, that for the first time in 5 years, existing home sales have increased 4 months in a row as of 8/21/09. I’m looking forward to the Market Reports for August since my intuitive impression is that the Real Estate Market in our area is alive and kickin’ again. I’m hearing more and more properties selling in record time and some even with multiple offers, especially when “priced right” and in awesome condition!
The Market Dynamics show that all Median Price indicators are down for this period: Median Sold Prices Down 2% from $310,500 to $305,000 In July 2009, Chester County Homes For Sale down 3% from $374,950 to $365,000 and Chester County Homes Under Contract down 15% from $335,000 to $285,000 in July 2009.
It’s interesting to note that Median Prices were up slightly in June of 2009, but not maintained for July 2009 Read the rest of this entry »
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Chesterbrook TownHome Tredyffrin Market Update
August 10th, 2009 categories: Chester County, Chesterbrook, Financial, Market Trends
First Time Condo Home Buyers/Investors Find Good Choices
Town Homes and Condos offer some good choices for First Time Home Buyers, Seniors downsizing and Investors because of the attractive lifestyle. The Community of Chesterbrook in Wayne 19087 Tredyffrin Township PA is one of Chester County’s most popular Town home and Condo locations. Read the rest of this entry »
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