Call: (610)-322-6734
November 2010

Wallingford PA Real Estate

By Clark Kendus

Archives for November 2010

QR Codes For Real Estate

by

QR Code For 1342 Putnam Blvd

You are probably wondering what this odd looking pattern of white and black is displayed to the left. It is known as a QR code. A QR code is a two dimensional barcode which when scanned will connect the user to a web site URL. When scanned on a smart phone utilizing a free application provided by Bakodo it will connect to trulia.com and automatically bring up the listing information for the property!

So if you have a smart phone and the Bakodo application scan the code and check it out.

Price Reductions Increasing

by

It was reported today in the Philadelphia Inquirer that 31% of homes sold this month in the Philadelphia metropolitan area involved a listing price reduction.

The Philadelphia area ranked 11 out of 15 metropolitan areas in the number of homes sold with a price reduction. The Minneapolis area led the list with 46% of homes selling with a price reduction.

Here in Wallingford enticing buyers has required price cutting to a greater degree. A review of the 20 homes settled in the past 3 months indicates that 11 of 20 homes, 55%, reduced the listing price prior to selling.

The smaller number of buyers available are seeking value and original listing prices apparently are missing that mark.

 

What Will 150 Million Buy?

by

The Spelling Mansion in Los Angeles, CA

Widow of TV producer Aaron Spelling and mother of actress Tori Spelling, Candy Spelling is selling her Holmby Hills mansion in Los Angeles, CA for a colossal $150 million – making it the most expensive residential listing in the United States. Although the 56,500-square-foot home has been on and off the market for years, it recently went on the open market for the first time.

The hotel-sized home, set on 4.7 acres of landscaped land, features 14 bedrooms and a whopping 27 bathrooms, not to mention a two-lane bowling alley, an arcade room, a barbershop, a flower-cutting hall with a professional florist refrigerator and a service wing with staff quarters. The grounds feature formal gardens, a koi pond and a large, circular motorcourt with a central fountain.

Housing Trends Of The Future

by

1. Big builders are wringing the extras out of construction costs and dropping the national average cost-to-build 36 percent to $52 per square foot.

2. Starting in 2011, Energy Star will ramp up its efficient design and quality installation standards. To get Energy Star certification, builders will have to install the right insulation, HVAC systems, and other features related to energy efficiency correctly every time.

3. Sheds are the next evolution. As homes get smaller, a separate shed will become a popular home addition.

4. There are 81 million “Echo Boomers” who were born from 1981 to 1999, compared to just 78 million Baby Boomers born from 1946 to 1964. These children and grandchildren of Boomers will drive home-building for years.

5.By 2015, demographers say, more than two out of every five households occupied by Generation Y people born between 1981 and 1999 will be WINKs (women with incomes and no kids).

6. Make room for the “Sandwich Generation” – Baby Boomers living with both their kids and their parents. These families like having two master suites, a second cooking area, and lots of storage.

7. Baby Boomers want to keep working and continue to live where they have always lived. They want a first-floor master bedroom near the washer and dryer and lots of convenient storage.

Credit Score Requirements Stifling Borrowers

by

Despite record-low interest rates, an increasing number of Americans can’t afford to buy a house.

The nation’s two largest mortgage lenders, Wells Fargo & Co. and Bank of America Corp., have raised the minimum required credit score on FHA-insured loans to 640 from 620

Requiring a 640 credit score excludes about 15 percent of FHA borrowers, according to FHA commissioner David Stevens.

S. Clark Kendus

Sales Associate

Cavanagh Real Estate
112 West Front Street
Media, PA 19063
Cell: (610)-322-6734
Office: (610) 565-4100

Cavanagh Real Estate Logo

Fair housing logo

Skip to content