Archives for January 2014

Home Improvement Projects – Which Have The Best Return?

January 30, 2014 by admin

Remodeling Magazine has released it’s 2104 Cost vs Value index survey that evaluates the cost of 35 popular home remodeling, replacement, and addition projects in 101 cities, against the projected value at resale. To no surprise not all home remodeling projects are created equal, and not all home remodeling projects return is the same at resale.

For the second consecuitive year the value of all 35 mointored projects in the survey has increased. This trend signals an end to the long slide in the cost-value ratio, which began to fall in 2006 and didn’t begin to rebound until last year.

The following country-wide mid-range remodeling projects offer the highest estimted return at resale:

– Entry Door Replacement (Steel) – 96.6%

– Deck Addition (Wood) – 87.4%

– Attic Bedroom – 84.3%

– Garage Door Replacement – 83.7%

– Minor Kitchen Remodel – 82.7%

– Window Replacement (Wood) – 79.3%

Projects that yielded the lowest return:

– Home Office Remodel – 48.9%

– Sunroom Addition – 51.7%

– Garage Addition – 58.4%

– Master Suite Addition – 56.0%

Check out the returns for the 35 projects in the full 2014 Cost vs. Value Report and for data specific to the Philadelphia region.

When choosing a remodeling project for your home there are two important things to remember. Keep the project in line with other homes in your neighborhood. If you want to recoup the highest amount of your project investment do not over improve for your area. Secondly, regardless of the home improvements you make, do not expect to get your investment back dollar for dollar at resale.

Wallingford Real Estate – Wallingford, PA 19086

What State Has The Most Millionaires?

January 28, 2014 by admin

Want meet a millionaire? Your best bet would be to head just south to Maryland to find the state with the most millionaires in 2013 according to CNNMoney.

Maryland has the largest millionaire population and the highest ratio of millionaires to households in the nation, with 7.70% of households in the state boasting that moniker.

Pennsylvania has a ratio of 5.24% of millionaires to households. New Jersey takes second place in the list with a 7.49% ratio, and Delaware is in 9th place with a ratio of 6.20%.

Mississippi has the distinction of having the lowest number of millionaires among it’s population at 3.63%.

The top millionaire states From “Where America’s Millionaires Live,” CNNMoney (January 2014)

1 – Maryland: 7.70%
2 – New Jersey: 7.49%
3 – Connecticut: 7.32%
4 – Hawaii: 7.18%
5 – Alaska: 6.75%
6 – Massachusetts: 6.73%
7 – Virginia: 6.64%
8 – New Hampshire: 6.48%
9 – Delaware: 6.20%
10 – California: 6.04%

Wallingford PA Real Estate – Wallingford, PA 19086

A Financial World Out Of Balance

January 21, 2014 by admin

Today’s Inquirer had an article today regarding the distribution of the world’s wealth that was equally astonishing and disturbing at the same time.

A report issued by the British based charity Oxfam finds that 85, that’s right 85, people control the same amount of wealth as half the world’s population. In other words the world’s poorest 3.55 BILLION inhabitants must survive on what the wealthiest 85 people on the planet possess.

Furthermore the wealth of the top 1% of the richest people in the world have access to $110 trillion which is an amount 65 times greater than the bottom half of the world’s 7.139 billion people. Overall 69% of the world’s population controls only 3% of global wealth, with 0.7% – that is seven tenths of a percent – controlling 41% of global wealth.

The recent financial crisis and recovery was a windfall for the wealthy with an estimated 95% of the proceeds from the economic recovery flowing into the hands of the wealthy.

The World Top Incomes Database has additional information regarding wealth distribution.

Wallingford PA Real Estate – Wallingford, PA 19086

Say Goodbye To Edison’s Light Bulb

January 21, 2014 by admin

Wallingford PA Real Estate - Wallingford PA - Light Bulbs Are Being Phased Out

Incandescent Light Bulbs Are Being Phased Out

Thomas Alva Edison’s light bulb, hailed as one of the greatest inventions of all time, had it’s first successful trial in October 1879, is undergoing some major changes.

As of January 1, 2014 manufacturing of 40 and 60 watt light bulbs ceased, and while still available for sale in stores these bulbs will soon pass into history. The elimination of the incandescent light bulb is the result of the 2007 law passed by Congress known as the Energy Independence and Security Act (EISA), which mandated the phase out of standard bulbs ranging in wattage from 40 to 100 watts. The manufacturing of higher wattage standard bulbs, the 100 and 75 watt varieties, ceased in 2012 and 2013 respectively.

The law mandated greater efficiency standards for light bulbs with the purpose of making the country more energy independent. It is estimated that 12% of the household’s energy usage is attributed to lighting, and a standard incandescent bulb is a tremendous energy hog with as much as 90% of it’s energy expended as heat according to the EPA. With an estimated 4 billion light sockets, and 3 billion of them still using old bulbs, across the country that is a lot of wasted energy.

Bulbs now manufactured must be at least 27% more energy efficient that the old standard light bulb, and the law is technology neutral in that any type of bulb can be made as long as it meets the new efficiency standard.

The efficiency of a light bulb is measured by it’s lumens per watt output. A lumen indicates how bright a bulb is, and a watt indicates how much energy the bulb uses.

How Do Light Bulbs Compare?

– A standard 60 watt old style light bulb provides 13 to 14 lumens per watt

– An equivalent Compact Fluorescent Light (CFL) bulb provides between 55 and 70 lumens per watt

– An equivalent LED bulb provides between 60 and 100 lumens per watt

If you are confused about what type of new bulb you need to replace your old style on the EPA suggest the following:

– If you used to buy a 100 watt bulb, look for a newer style one with 1600 lumens

– If you used to buy a 75 watt bulb, look for a newer style one with 1100 lumens

– If you used to buy a 60 watt bulb, look for a newer style one with 800lumens

– If you used to buy a 40 watt bulb, look for a newer style one with 450 lumens

Lumen output is a better indicator of light output than wattage.

We owe a lot to Mr. Edison’s for his grand invention, these new bulbs improve on his original idea which has remained virtually unchanged for 135 years.

For more information about the changing light bulb reference the EPA’s EISA fact sheet.

Wallingford PA Real Estate – Wallingford, PA 19086

Buyers Are Out In Force

January 20, 2014 by admin

Having 4 to 6 groups of visitors come to an Open House would be considered a good turn out. The Open House I held yesterday on Palmers Lane in Wallingford was attended by, at my best count, 32 groups of visitors who showed up, which amounts to over 75 people since many attendees come with a host of characters. This is a very strong and unusually large turnout for any time of the year.

I had the opportunity to speak with many visitors, but not all, since it was so busy, and there some common themes these prospective buyers shared.

A Lack Of Inventory:

Many people commented on the lack of inventory in the Wallingford area, and they consider what is on the market as stale and they are anxious for new listings to come onto the market, and they are ready to buy!

Concerns About Mortgage Rates:

Talk about rising interest rates has some buyers starting their search sooner than planned in an attempt to buy before rates head upward.

Education Matters:

I spoke with 4 young couples who were either expecting or had pre school age children and are currently living in Philadelphia. The reputation of the Wallingford Swarthmore School District remains a powerful draw for young families.

Virtually all buyers attend an Open House/s during their search process, and it seems that the Spring real estate market is starting a bit earlier than usual, and there are buyers out in force looking in our community, all good signs for a strong Spring market.

Wallingford PA Real Estate – Wallingford, PA 19086

Archives for January 2014

S. Clark Kendus