Archives for June 2015

Wallingford PA Real Estate – June 22, 2015 To June 28, 2015

June 30, 2015 by admin

A weekly review of recently sold homes in Wallingford PA and current market statistics.

There are 89 homes listed for sale in Wallingford PA and Nether Providence Township on June 30, 2015.

Buyers signed more contracts to purchase homes in May pushing pending home sales to their highest level in 9 years. The National Association of Realtors reports that it’s pending home sales index is just below the level of sales in April 2006.

Steady job growth and slowly rising mortgage rates have greater urgency among buyers. Contract signings increased in the Northeast and Western regions of the country while declining in the South and Midwest.

There are currently 43 homes under contract in Wallingford at this time

Wallingford Market Snapshot – 89 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$332,937	$329,900	$85,000	$819,000	113

Single/Twin Market Snapshot – 74 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$369,489	$364,450	$99,000	$819,000	104

Townhouse/Condo Market Snapshot – 15 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$152,616	$154,900	$85,000	$299,900	159

*DOM = Days On Market

6 Wallingford PA homes went under contract

5 new listings came onto the market

No listings expired

No listings were withdrawn from the market

43 homes are Under Contract at this time

9 Wallingford PA homes sold last week

Wallingford Homes Sold June 22, 2015 To June 28, 2015
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
700 Avondale Rd #5C	2	2.0	$112,000	06/22/15	45
103 Willow Road	3	2.1	$255,000	06/22/15	14
705 Kincaid Mills Lane	4	3.1	$425,000	06/22/15	6
394 Turner Road	5	3.1	$568,050	06/24/15	10
28 Green Valley Road	3	1.1	$376,000	06/25/15	5
AVERAGE			$347,210		16

*DOM = Days On Market

No homes sold had a Seller Assist:

Wallingford PA Real Estate – Wallingford, PA 19086

New Listing – 101 Avonbrook Road – Wallingford, PA

June 26, 2015 by admin

101 Avonbrook Road – Wallingford, PA 19086

Exquisite and impeccably maintained 5 bedroom 3.5 bath stone Colonial home located in the community of Wallingford Hills. This home has 3 gas fireplaces, one which is located in the first floor master bedroom. Newly renovated bathroom featuring heated floors and towel racks. Living room with a beamed cathedral ceiling, hardwood floors, and a gas fireplace. High end kitchen with Sub-Zero refrigerator and Jen Air gas range and granite countertops.

Family Room With Gas Fireplace And Beamed Cathedral Ceiling

Basement In Law Suite With Renovated Kitchen, Walk In Glass Shower, And Outside Entrance

Entrance Foyer

The Impressive Stone Patio Is Located Off The Family Room

101 Avonbrook is a stately home with on a beautifully landscaped lot conveniently located within walking distance of the Wallingford Train Station.

If you have any questions or would like to schedule a visit to this fine home click here to contact me.

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – June 15, 2015 To June 21, 2105

June 23, 2015 by admin

A weekly review of recently sold homes in Wallingford PA and current market statistics.

There are 95 homes listed for sale in Wallingford PA and Nether Providence Township on June 23, 2015.

The total number of mortgaged residential properties with equity stands at roughly 90% (44.9 million), with 10.2% of mortgaged homes (5.1 million) nationwide underwater or with negative equity.

According to a recent analysis from CoreLogic, overall borrower equity increased year over year by $694 billion in the first quarter of 2015, with 254,000 properties regaining equity. It’s worth noting that 19.4 percent of borrowers with equity have less than 20 percent equity, and 2.7% have less than 5%.

The bulk of positive equity for mortgaged properties is concentrated at the high end of the housing market. CoreLogic reports that 94% of homes valued at more than $200,000 have equity, compared with 85% of homes valued at less than $200,000.

The highest percentage of mortgaged properties in positive equity were found in:

Texas (97.7%)

Hawaii (96.7%)

Alaska (96.8%)

Montana (96.8%)

North Dakota (96.2%)

The markets with the highest percentage of mortgaged properties in negative equity were:

Nevada (23.1%)

Florida (21.2%)

Illinois (16.8%)

Arizona (16.8%)

Rhode Island (15.7%)

Combined, these five states accounted for 31.4% of negative equity in the U.S.

Wallingford Market Snapshot – 95 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$339,810	$319,900	$85,000	$1,000,000	105

Single/Twin Market Snapshot – 80 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$374,945	$359,700	$99,000	$1,000,000	96

Townhouse/Condo Market Snapshot – 15 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$152,423	$154,900	$85,000	$299,900	152

*DOM = Days On Market

5 Wallingford PA homes went under contract

6 new listings came onto the market

No listings expired

No listings were withdrawn from the market

46 homes are Under Contract at this time

9 Wallingford PA homes sold last week

Wallingford Homes Sold June 15, 2015 To June 21, 2015
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
211 Stanford Drive	5	3.1	$295,500	06/15/15	14
856B Putnam Blvd	2	1.0	$95,000	06/16/15	53
200 Garnet Lane	4	2.1	$415,000	06/16/15	7
41 Medbury Lane	3	1.0	$290,000	06/17/15	4
844A Putnam Blvd	2	1.0	$115,000	06/18/15	374
636 E Wiltshire Drive	3	2.1	$209,900	06/19/15	6
909 Winding Way	5	3.1	$650,000	06/19/15	10
811 Meredith Drive	4	3.0	$560,000	06/19/15	4
804A Putnam Blvd	2	1.0	$106,000	06/19/15	180
AVERAGE			$304,044		72

*DOM = Days On Market

2 of 9 homes sold had a Seller Assist:

– 636 E Wiltshire Drive – $9,000

– 811 Meredith Drive – $1,650

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – June 8, 2015 To June 14 2015

June 16, 2015 by admin

A weekly review of recently sold homes in Wallingford PA and current market statistics.

There are 98 homes listed for sale in Wallingford PA and Nether Providence Township on June 16, 2015.

Median Priced Home – School Tax Bills In Delaware County
SCHOOL DISTRICT	2010/11	2014/15	2015/16	1 Yr	5 Yr

Wallingford PA Real Estate - Wallingford PA - School Tax Bill Increases

Philadelphia Inquirer – June 14, 2015

Wallingford Swarthmore School District again took dubious top honors in an article entitled Tax Hikes Become A Rite Of Summer. The district posted the largest average tax bill for a median priced home among Delaware County’s 14 school districts. The median tax bill was in fact the largest among the entire list of 53 districts in Bucks, Chester, and Montgomery as well. WSSD also had the highest dollar increase in taxes over the last five years in Delaware County.

Wallingford Market Snapshot – 98 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$351,242	$339,900	$85,000	$1,000,000	102

Single/Twin Market Snapshot – 80 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$390,619	$374,750	$99,000	$1,000,000	91

Townhouse/Condo Market Snapshot – 18 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$176,236	$180,950	$85,000	$389,900	150

*DOM = Days On Market

3 Wallingford PA homes went under contract

7 new listings came onto the market

1 listing expired

No listings were withdrawn from the market

50 homes are Under Contract at this time

6 Wallingford PA homes sold last week

Wallingford Homes Sold June 8, 2015 To June 14, 2015
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
10 Irving Road	3	2.0	$390,000	06/10/15	8
AVERAGE			$390,000		8

*DOM = Days On Market

Wallingford PA Real Estate – Wallingford, PA 19086

Condominium Financing Can Be Challenging

June 13, 2015 by admin

Crum Creek Valley Condos

Condominium financing poses some unique challenges including stricter lender requirements and higher costs than typical residential purchases.

Both the buyer and the condominium must qualify in the eyes of the lender to obtain a mortgage approval for a condo purchase.

A lender is looking for a condominium that has healthy finances, high owner occupancy rates, and a low percentage of association fee delinquency rates.

Lenders follow guidelines from the Federal Housing Administration, Fannie Mae and Freddie Mac for condo mortgages.

Some of Fannie Mae’s requirements for condominium financing are:

– More than half of the condo units must be owner-occupied.

– No owner may own more than 10% of the units.

– No more than 15% of owners can be delinquent on condo dues.

– All amenities must be completed if the development is more than 12 months old.

– Buyers who make a down payment of less than 25% will generally pay an additional 0.75% of the loan amount at the closing or a higher interest rate of about 0.25%.

Lenders will also take a close look at any pending litigation involving the condo association that might threaten it’s financial well being.

It is difficult for borrowers with a small amount of money available for a down payment to obtain financing since the majority of condos in our are not approved by the Federal Housing Administration (FHA) and thus not eligible for low down payment loans. Check for a condo’s FHA approval status.

Condos that are not approved for FHA or Fannie Mae financing are known as “nonwarrantable” and offer few options for buyers or refinancers.

Even if the condo meets the Fannie Mae guidelines, buyers may find that they must make a down payment of 20% or more because mortgage insurance companies are less willing to provide mortgage insurance on condo loans, since they are considered riskier.

Wallingford PA Real Estate – Wallingford, PA 19086

Archives for June 2015

101 Avonbrook Road – Wallingford, PA 19086

S. Clark Kendus