*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 Although, as with Tredyffrin Township, we can attribute some of drop in inventory to properties having been withdrawn from the market.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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We’re having a Sunday Open House at 432 Sharon Drive in Wayne, Upper Merion Township, Sunday January 11th from 2-4pm. Come visit this charming Ranch Style home. Sharon Drive offers easy one floor living in a wonderful neighborhood close to Roberts Elementary School, King of Prussia Mall Shopping and nearby commuting from the Wayne Strafford Train Station. An upgraded kitchen, upgraded baths and all new windows are just a few features that make this a best buy for First Time Home Buyers or Downsizing Home Buyers at an offering Price of $349,000. No Condo Fees. Better than a town home! Have questions? Call Judy Peterson Prudential Fox and Roach Realtors 610-889-5509.

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September 11th I was home watching the Today Show, in horror. I rushed to call family members across the Country to tell them not to get on any airplanes. Phone lines were already jammed.  Back then I didn’t “text” so I sent an email and finally got a call through. Locally, Chester County Ready Notify Pa can not only help you be better prepared in an emergency, but it can save lives and it’s totally free for emails. There may be a small cost for text messages. Check with your provider.

Chester County Ready Notify Pa – I meant to sign up for it when I first heard about it.  Sign up now. And tell your family and friends about Chester County Ready Notify Pa. I’ll have to tweak mine a little since I’m getting traffic notices I don’t need. But if you commute to the City, that might be helpful to you.

If you live in Chester County, Montgomery County, Delaware County, Bucks County or Philadelphia sign up through any of these links.

• Chester County Alert Ready Notify Pa
• Ready Notify Pa and choose your County
  
• or, Send a Text Message to 411911 with your cellular device, enter your County Code CHESCO, DELCO, MONTCO, BUCKS, PHILA for basic emergency alerts.

Ready Notify Pa uses the Roam Secure Alert Network (RSAN). Get emergency email and/or text message notifications from Pennsylvania, your County and Township. The technology is based on the idea that emails/text messages bypass voice lines. When phone lines are jammed in an emergency, emails and text messages can still get through.

Receive basic Emergency notices or customize depending on your needs.

• Emergency Notices,
• your County and Township
• Traffic/Roads Closed
• map notation/family/work
• Weather Alerts
• Crime/Amber Alerts

You can also edit or change your notice selections. You’ll receive a test email/text message. Make sure it’s not getting caught by your spam filters. Tell your family and friends, neighbors and Seniors or those with special needs. The website also has some good emergency hints for children and pet safety.

Contact or call Judy Peterson 610-889-5509. Together with my team at Prudential Fox and Roach Realtors, I’m here to help with ALL of your real estate questions.

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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.

Open House Extravaganza With Up To $1,000 Lender Credit:

• Come to any Prudential Fox Roach Open House being held this weekend,
• Register at a Prudential Fox & Roach Listing Open House
• purchase a Prudential Fox & Roach Listing that settles by March 31, 2009
• finance it with Trident Mortgage and get up to $1,000 lender credit from Trident Mortgage (depending on loan amount).
  

Judy Peterson’s Real Estate Open House Saturday 11/08/2008 and Sunday 11/09/2008

• Saturday 11/8/2008 – Visit My Listing at 22 Cabot Drive, “Newport”  Wayne Pa Open 2-4pm
• Sunday 11/9/2008 – Visit My Listing at 432 Sharon Drive, “Waynewood” Wayne Pa Open 2-4pm

This is what one of my Buyers said when I called to tell them about the Open House Extravaganza this Saturday and Sunday:11/8 and 11/9/2008:

“Really? Is that for real?

Sure is!

“Wow! You’re the best!. Thanks so much. I’ll see you Sunday”

Contact or Call Judy Peterson 610-889-5509 with all of your real estate questions.

Related Articles:

• 22 Cabot Drive, “Newport”, Chesterbrook, Wayne Pa 19087
  
• 432 Sharon Drive, “Waynewood”, Wayne, Pa 19087
  

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SUNDAY OPEN HOUSE - November 23, 2008 2-4pm

November 23, 2008 Sunday Open House 2-4pm

432 Sharon Drive in Wayne, Pa is a charming Ranch Style Home. Located in the popular community of “Waynewood” in Upper Merion Township.  Here you will find a location that offers incredible convenience for your daily living. Just minutes to the popular King of Prussia Mall for fabulous shopping or to the Wayne Strafford Train Station for commuting to the Lower Main Line or Center City as well as all major corporate centers and the popular Roberts Elementary School. Upper Merion Township also boasts a Senior Center on close by Henderson Road, offering activities and services.  Preview our  Virtual Tour of 432 Sharon Drive or click on the “Virtual Tours” tab above. MLS#5430504 Call for an appointment today.

Just Like A Vacation Home But With Convenience and Upgrades

As you approach Sharon Drive from Croton Road, you feel as though you’re entering a Pocono Mountain vacation retreat home when you see this lovingly cared for property, surrounded by filtered sunlight, yet nestled in a pretty wooded setting.

Your pleasure is just beginning.  From the private entrance, you immediately see a spacious Living Room with a wood burning fireplace. Wander back to the all new kitchen with custom bleached oak cabinets and an upgraded GE Profile Gas Stove. View the upgraded baths, skylights, and move in condition. There’s a cozy Family Room, Breakfast Area with custom Cherry wood Bench, and Dining Room to  welcome you to a home that offers so much. All new windows provides all Season, picture post card views from every direction. View your custom brick patio from the Master Bedroom and the custom Deck just off the Kitchen.  Easy access to the Deck for a picnic, entertaining or just relaxing with your morning paper and a cup of coffee.

First Time Home Buyers or Downsizing Home Buyers

First Time Home Buyers? – You will love the few minutes walk to the sought after Roberts Elementary School in Upper Merion Township and the pleasingly reasonable taxes.  Move right in to a new kitchen and updated baths and neighbors so nice the Sellers hate to leave.

Downsizing Home Buyers? – Not ready for town home living? This home offers one floor living at it’s best for those who need less home to manage and grass to cut, yet still close to lifetime friends and family. Move right in condition or add you own special touches, for a best buy choice that meets your needs.

Contact or Call me at 610-889-5509.  I can help with all of your Real Estate questions.

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