Home Improvement Investment Return
January 14th, 2009 categories: Financial, Home Buyers, Home Sellers
Home Improvement Chester County Philadelphia Main Line Area
The phrase that “All Real Estate Is Local” contains a lot of truth in Real Estate and especially for
our Pennsylvania, Chester County Real Estate and Philadelphia Main Line area. We have a varied mix of home styles and home price ranges sometimes within neighborhoods.
Each year Realtor Magazine together with Remodeling Magazine* publishes their Cost vs Value edition with statistics on resale value investment return. These are Regional differences but It’s also true that Chester County may differ from Delaware or Montgomery County or style differences between Single Family Homes or Town Homes.
Good Lighting Deserves More Home Improvement Attention
My clients seem to be most impressed with Kitchens and Bathrooms and often comment on Lighting. Lighting isn’t on the list but in my experience it should be. When a home buyer says, “It seems dark in here”, it’s not good news for the Sellers home I’m showing. Especially here in the Northeast. Good lighting can punch up the WOW factor for a modest investment!
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Tredyfrin Township Tackles Taxes
December 14th, 2008 categories: Chester County, Financial
The Gathering Tredyffrin Real Estate Taxes Storm
The Tredyffrin Township Board of Supervisors meets Monday December 15th, 7:30pm at the Tredyffrin Township Building to Vote on the 2009 Tredyffrin Township Budget and a proposed 5% Tax Increase. An increase that would mean:
- proposed $24 per millage rate increase from 2.18 mills to 2.4 mills
- Summer Concerts funding TBD
- Community Day Funding TBD
- postponing a Police Officer hiring, etc
- a still looming 2010/2012 projected reserves short fall
What’s a mill? One mill of tax is equal to $1 for each $1000 of property assessed value. The formula looks like this:
- Property Assessed Value X Millage rate, (mills x .001) = tax.
- for example: $100,000 Assessed Value X 2.4 mills (.0024) = $240.00
- or $100,000 Assessed Value X 2.18 mills (.00218) = $218.00
Comparing Millage Rates for Townships in Chester County we can see that Tredyffrin Read the rest of this entry »
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1,000 Reasons To Come To My Open Houses This Weekend
November 7th, 2008 categories: A Realtors Life, Chester County, Delaware County, Financial, Montgomery County
Prudential Fox and Roach Realtors® Holds An Open House Extravaganza
Come to Judy Peterson’s Real Estate Open Houses and see two lovely homes for sale in Wayne, Pa 19087.
Prudential Fox & Roach Realtors® is sponsoring a Real Estate Open House Extravaganza this Saturday November 8th, and Sunday November 9, 2008. Read the rest of this entry »
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Chester County Real Estate|Supply, Demand, MSI
September 26th, 2008 categories: Chester County, Financial, Market Trends
Supply and Demand and Months Supply of Inventory Comparison August 2006 vs August 2008
The Supply, Demand and Months Supply of Inventory numbers for Chester County Pennsylvania Real Estate Transactions offer no major surprises.
These are the numbers that some of the national and even local news likes to throw out for some shock value. They need to be put into context. When we compare market data to 2005 and 2006, it’s important to keep in mind that neither of these real estate markets was “typical”.
What Is Supply and Demand For Chester County Homes For Sale?
Supply and Demand – simply refers to the number of units (houses) sold in any given period compared to the number of homes for sale and houses under contract. It’s an important indicator but not a predictor of the future. In the comparison period between August of 2006 vs August of 2008 in Chester County Pa: Read the rest of this entry »
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Chester County Real Estate|Median Sold Prices|August 2008
September 25th, 2008 categories: Chester County, Financial, Market Trends
Real Estate Market Report for Chester County Pa Real Estate Homes For Sale, Homes Under Contract and Houses Sold Comparison of August 2006 vs August 2008*
Chester County Median Price Comparison August 2008
This is a big picture look at the Chester County Real Estate Market Report comparison between August 2006 and August 2008 for Median Homes For Sale Prices (red line), for Homes Under Contract (blue line) and for Homes that have Sold (green line).
The Median Sold Price for Chester County during the period of August 2006, August 2007 and August 2008 is Up 1.6%, from $319,900 in 2006 to $324,900 in August 2008.
The Median For Sale Price for Chester County is down 1.7% from $379,900 in August 2006 to $373,500 in August 2008. Read the rest of this entry »
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Real Estate One Stop Super Shopping Service
September 16th, 2008 categories: Financial, Home Buyers, Home Sellers
Real Estate One Stop Shopping, Amazon, and the Supermarket?
What do Real Estate One Stop Shopping Services have to do with the Supermarket, Amazon or the Mall?
Save Time, Save Money, Trustworthy Service, Peace of Mind ~
Here in Chester County and the Main Line area my Buyers and Sellers are busy, busy, busy. They’re either on the fast track at home or at work or both. Time is the one commodity that none of us has enough of. That’s why when the National Association of Realtors ran a Harris poll, One Stop Shopping Real Estate Services came up with a resounding YES vote.
Everyone loves one stop shopping. At the Supermarket these days, there’s probably a snack bar for a little breakfast or lunch while you shop. You can pick up a snow shovel, a prescription, or buy a pot of Mums for the front porch. My favorite Amazon shopping offers great choices, service and prices. Prudential Fox Roach Realtors together with the affiliated services of The Trident Group even offers a guarantee on Settlement Services!
I can just imagine how excited you are to buy your first home. You’re getting married. You’ve decided to go Read the rest of this entry »
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Chesterbrook Real Estate|How Much Is My House Worth?
September 9th, 2008 categories: Chester County, Chesterbrook, Financial
How Much Is My Chesterbrook House Worth?
Real Estate in Chesterbrook Tredyffrin Township Chester County offers a variety of mostly town homes and condominium style homes. There are two single family home villages (Green Hills and Fox Hollow). House Values in Chesterbrook can be seen by real estate activity between January 2008 and August 2008 in Chesterbrook Wayne Pa:
Chesterbrook Real Estate transactions January 2008-August 2008:
- 30 Chesterbrook Homes For Sale Prices between $184,900 – $459,900.
- 10 Chesterbrook Homes are Pending Sales between $189,000. – $278,610
- 62 Chesterbrook Homes Sold Prices between $170,000 – $440,000
- 49 DOM, the Average Days on Market for Chesterbrook Sold properties
Chesterbrook Map of Villages
The “Chesterbrook Lifestyle” is enhanced by the highly regarded Tredyffrin Easttown School system which is attractive to families with children, a convenient Chesterbrook Village Read the rest of this entry »
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First Time Home Buyers Tax Credit~Good News For Buyers
August 1st, 2008 categories: Financial, First Time Home Buyers, Home Buyers
First Time Home Buyers Tax Credit-Housing and Economic Recovery Act of 2008~Helps Main Line Chester County Buyers
The President signed the Housing and Economic Recovery Act of 2008 on July 30, 2008, reference H.R. 3221. The House Vote was 272-152 and the Senate Vote was 72-13 according the National Association of Realtors®. We’re combining this refreshing Summertime news for First Time Home Buyers with our Photo Friday selection from my trip to San Diego.
Puzzled About The First Time Home Buyers Credit? Read the rest of this entry »
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Absorption Rate~Months Supply of Inventory Tools
June 13th, 2008 categories: Financial, Market Trends
How Do I Calculate The Absorption Rate and The Months Supply of Inventory?
The Absorption Rate has historically been used in New Construction planning and financing. Builders need to know how many homes can be absorbed into any given market before the first shovel goes in the ground. Lead time, financing and market shifts are unforgiving when you plan and build in a Sellers Market, but sell in a Buyers Market, such as we have now. However unscientific, a savvy Realtor can almost predict a market downturn or recovery by watching the incentive giveaways. How do we define a Buyers Market? It’s generally considered to be anything over about six months of inventory.
Absorption Rate and Months Supply of Inventory can help Sellers and Buyers understand the market. A Realtor who doesn’t use these indicators is like a violinist without a bow or a mechanic without a socket wrench ~ you might not hear the music or know how to fix it when the market shifts. These simple calculations can produce some elegant results: Read the rest of this entry »
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