Archives for May 2011

Wallingford PA Community Spotlight – Mallard Mill Run

May 23, 2011 by admin

Mallard Mill Run Townhomes

Mallard Mill Run is a community of 23 town homes located on Mallard Mill Run directly across from the Holy Trinity Lutheran Church on Route 320 – Chester Road.

The contemporary style community was built between the years of 1988 through 1991, with 6 homes built in 1988 and 1989, and 11 homes constructed in 1991. Homes average 1,832 square feet, with three bedrooms, three full baths, and full basements. The homes also feature fireplaces, 1 car detached garages, and decks – of which many overlook a wooded area.

The average taxes for the homes in the community is approximately $10,100 in 2020, and the monthly condo association fees in 2021 are $350 per month.

Elementary school students residing in Mallard Mill Run attend the Swarthmore-Rutledge Elementary School, located on College Avenue in Swarthmore.

**Mallard Mill Run Sales 2022**
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
32 Mallard Mill Run	3	2.1	$358,000	03/01/22	4
7 Mallard Mill Run	3	3.0	$408,100	05/02/22	7
Average			$383,050		6

*DOM = Days On Market

**Mallard Mill Run Sales 2021**
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
28 Mallard Mill Run	3	3.1	$380,000	05/04/21	0
24 Mallard Mill Run	3	2.1	$400,000	06/08/21	6
Average			$390,000		3

*DOM = Days On Market

**Mallard Mill Run Sales 2020**
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
32 Mallard Mill Run	3	2.1	$314,500	07/22/20	18
26 Mallard Mill Run	3	3.1	$350,000	09/10/20	9
Average			$332,250		14

*DOM = Days On Market

**Mallard Mill Run Sales 2019**
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
4 Mallard Mill Run	3	3.1	$300,000	05/30/19	51
Average			$300,000		51

*DOM = Days On Market

**Mallard Mill Run Sales 2018**
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
20 Mallard Mill Run	3	2.1	$278,000	07/02/18	11
18 Mallard Mill Run	3	3.0	$288,500	08/01/18	17
Average			$283,250		14

*DOM = Days On Market

**Mallard Mill Run Sales 2017**
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
6 Mallard Mill Run	2	2.0	$262,500	03/31/17	201
12 Mallard Mill Run	3	3.0	$274,000	02/06/17	50
Average			$268,250		126

*DOM = Days On Market

**Mallard Mill Run Sales 2016**
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
7 Mallard Mill Run	3	3.0	$272,000	05/02/16	220
Average			$272,000		220

*DOM = Days On Market

**Mallard Mill Run Sales 2015**
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
36 Mallard Mill Run	3	4.1	$295,000	08/31/15	5
28 Mallard Mill Run	3	3.1	$219,050	02/27/15	148
Average			$257,025		77

*DOM = Days On Market

**Mallard Mill Run Sales 2014**
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
26 Mallard Mill Run	3	3.1	$270,000	09/26/14	67
6 Mallard Mill Run	2	2.0	$258,000	02/28/14	291
Average			$264,000		179

*DOM = Days On Market

**Mallard Mill Run Sales 2013**
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
12 Mallard Mill Run	3	3.0	$272,000	04/12/13	107
Average			$272,000		107

*DOM = Days On Market

**Mallard Mill Run Sales 2012**
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
5 Mallard Mill Run	3	2.2	$251,000	06/04/12	78
Average			$251,000		78

*DOM = Days On Market

**Mallard Mill Run Sales 2011/2010/2009**
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
– No Homes Sold –

*DOM = Days On Market

**Mallard Mill Run Sales 2008**
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
1 Mallard Mill Run	3	3.0	$300,000	02/29/08	99
Average			$300,000		99

*DOM = Days On Market

Wallingford Real Estate – Wallingford, PA 19086

Real Estate ABC’s – FHA Mortgages

May 20, 2011 by admin

A FHA insured loan is a Federal Housing Administration mortgage insurance backed mortgage loan which is provided by a FHA-approved lender. FHA insured loans have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford. To obtain mortgage insurance from the Federal Housing Administration, a mortgage insurance premium (MIP) equal to a percentage of the loan amount at closing is required, and is normally financed by the lender and paid to FHA on the borrower’s behalf. FHA loans will also involve a monthly premium as well. See updated information regarding the new PMI guidelines.

The program originated during the Great Depression of the 1930s, when the rates of foreclosures and defaults rose sharply, and the program was intended to provide lenders with sufficient insurance. Some FHA programs were subsidized by the government, but the goal was to make it self-supporting, based on insurance premiums paid by borrowers. Over time, private mortgage insurance (PMI) companies evolved, and now FHA primarily serves people who cannot afford a conventional down payment or otherwise do not qualify for PMI.

FHA allows first time home buyers to put down as little as 3.5% and receive up to 6% towards closing costs. Specific FHA lender overlays may be tighter. FHA guidelines will allow a blood relative, such as a parent, to co-sign for the loan without requiring them to reside in home with first time home buyer. This is called a Non-Owner-Occupied Co-Borrower. Specific FHA lender’s underwriting guidelines will have their own standards.

To meet FHA loan credit criteria, a prospective borrower generally needs a FICO credit score of 620 or above. The credit score used for FHA loan qualification is determined by obtaining the borrower’s scores from each of the three major credit bureaus, then eliminating the highest and lowest scores. This score is referred to as the “middle score” or “mid score”. Although the FHA has set its minimum credit score requirement at a 580 for many of its programs, individual lending institutions can add additional requirements and raise the minimum score as they see fit.

A home must have an FHA appraisal performed by a certified appraiser to be an acceptable property for an FHA loan. To satisfy the FHA appraisal requirements, the home must be in reasonably good condition. Certain disqualifying appraisal conditions may include but are not limited to structural problems, leaking roofs or missing exterior paint or siding. The property appraised value is extremely significant in the FHA loan process and the home must appraise for at least the purchase price.

One of the biggest myths associated with FHA loans is that they are only available to first time home buyers. This is not true, FHA financing is available to any borrower, provided they meet established FHA and lender specific guidelines.

The highest FHA mortgage amount changes from county to county and metropolitan areas throughout the United States. The smallest maximum FHA loan amount in any county is $271,050, but can reach as large as $729,750 in particular high-cost locations.

FHA FINANCING IN WALLINGFORD

Based upon the last full year of sales, 2010, in which there were 125 transactions, FHA financing was utilized in 26 transactions, or 20.8% of sales reported in the MLS. The full breakdown of financing for 2010 was:

4 – Private Financing

4 – Veterans Administration (VA) Financing

22 – Cash

26 – FHA Financing

69 – Conventional Financing

Wallingford PA Real Estate – Wallingford, PA 19086

Be Kind To The Enviroment – Properly Dispose Of Household Hazardous Wastes

May 18, 2011 by admin

We all have one—that shelf or cabinet with leftover paints, old bug killers and unwanted cleaners. You don’t want that toxic stuff near your kids or pets so you keep it out of reach.

It’s equally as important to keep those dangerous chemicals out of the environment. So when it’s time to get rid of hazardous household items, make sure you do your part and dispose of them the right way.

It’s estimated that every American home has an average of 100 pounds of hazardous household waste. This includes everything from paint and thinners to used motor oil, pesticides, bleach, cleaners and even batteries. Compact Fluorescent Light Bulbs (CFLs) are also considered hazardous waste due to the small amount of mercury they contain.

Let’s start with what not to do when getting rid of all this stuff. Pouring hazardous household waste down any drain sends the toxins directly into our water supply.

Drains include the ones inside your home and the storm drains outside. Pollution flowing into storm drains is called storm water pollution and it’s the leading cause of fresh water pollution in America.

You should also never put hazardous household waste in the trash. Whether it’s sending it to a landfill or burning it in a trash pile, both can release toxins directly into the air, land and water. Hazardous household waste needs to be disposed of properly. This means taking it to a qualified recycling center.

Another way to reduce the amount of hazardous household waste in your home is to start buying less of it. Many times there are natural alternatives that work just as well. Eco-friendly cleaners and pesticides are more widely available on store shelves and while they may cost more to purchase, keep in mind the true cost of an item is always more than just the money you spend.

Just because the hazardous household waste may be out of sight in your home, it should not be out of mind. Identifying it, disposing of it and reducing the amount in your home are all easy ways to do your part for everyday green living.

Delaware County offers 4 Household Hazardous Waste disposal events during the year. You can bring your hazardous household wastes to these upcoming events, as well as any old computers, fax machines, printers, and portable TV’s to these future events.

Thursday September 15, 2011 – Rose Tree Park

Saturday October 15, 2011 – Upper Chichester Municipal Building

Collection events are held from 9 AM to 3 PM.

Come join the 5,902 residents who properly disposed of 489,502 pounds of Household Hazardous Waste last year.

Weston Village Open House – 1342 Putnam Blvd, Wallingford – Sunday May 15 From 1 to 3

May 13, 2011 by admin

1342 Putnam Blvd – 2 Bedroom 2.5 Bath Townhouse – Offered at $197,499

Perfect first time home or for someone looking to downsize. This well maintained 2 bedroom, 2.5 bath Weston Village townhome features a very convenient location within the prestigious Wallingford-Swarthmore School District. First floor has ceramic tile entry foyer, powder room, EIK kitchen with a new dishwasher, large dining room and living room combination. Second floor has 2 spacious bedrooms. Master bedroom has large double closets and an attached full bath with a shower. Laundry facilities are conveniently located on this level as well. The basement is full and finished, with a sliding door leading out to patio which overlooks open space. A workshop and an additional storage room complete the lower level. New roof in 2007. Newly carpeted and painted, this home is ready for you to move in. Community amenities include tennis courts and a pool.

Benefits Of A Pre Listing Appraisal

May 12, 2011 by admin

Setting the listing price for a home is in no way an exact science. A potential seller and real estate agent look at the data which includes, homes currently on the market, homes that are under contract, and most importantly homes of similar size, style, age, etc. that have sold within the last 6 months. Out of this mix of data, sprinkled with the emotional bond the seller has with the home, a listing price is set. A large question looms at this point – Is the listing price an accurate reflection of what a ready, willing, and able buyer will pay?

Unfortunately in many cases the listing price of a home does not reflect what potential buyers are willing to pay. Hence the property does not get many showings, and as time goes on the price is adjusted downward, and as the number of days on the market increases the frustration of the home seller increases as well.

The adage “time is money” is very true in real estate – the more time your property is on the market the more likely it is you will receive less money for it.

A pre listing appraisal can help alleviate some of the unknowns regarding the market value of a property. An independent professional appraisal can shorten your time to contract and provides an unbiased opinion of value for your home established through methodology and detail that goes beyond a real estate agent’s Competitive Market Analysis (CMA).

Benefits Of A Pre Listing Appraisal:

– Establishes a competitive price, stimulating buyer demand

– Provides solid data for use in the negotiation process

– Establishes credibility for a listing price

– Provides advance knowledge of repairs necessary to secure financing

– Helps create an offer closer to the original listing price

– Creates offers sooner than later

There is no perfect solution for pricing a home to sell quickly in today’s volatile market, but getting an objective price opinion through a pre listing appraisal is a smart step in the process of getting a home sold in the quickest time and for the most money. The cost is approximately $300 to $400 – it is definitely money well spent.

If you are considering listing your Wallingford home and would like additional information regarding a pre listing appraisal I would be glad to assist you.

Archives for May 2011

FHA FINANCING IN WALLINGFORD

S. Clark Kendus