Archives for April 2016

Wallingford PA Real Estate – April 18, 2016 To April 24, 2016

April 26, 2016 by admin

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

There are 90 homes listed for sale in Wallingford PA and Nether Providence Township on April 26, 2016 with an average asking price of $362,075.

Freddie Mac economists are still upbeat about the housing market’s outlook for the rest of the year, despite recent data that showed a gloomier first quarter in economic growth than originally projected. According to Freddie Mac’s April outlook, housing will “maintain its momentum in 2016 and be an economic engine of growth.”

Freddie Mac economists made the following predictions for the remainder of 2016:

Employment: The labor market is expected to stay strong. The unemployment rate is projected to drop back below 5% for 2016 and 2017. “Stronger economic growth for the remainder of 2016 and reduced slack in the labor market will drive wage gains above inflation, though the gains are likely to be modest,” Freddie’s report notes.
Mortgage originations: Loan originations are estimated to rise by $50 billion in 2016 and reach $1.7 billion. The forecasted boost is a result of low mortgage rates that are fueling a refinancing boom.
Mortgage rates: Low mortgage rates are expected to stick around longer. The 30-year fixed-rate mortgage averaged 3.7% in the first quarter. “After lowering the forecast for subsequent quarters by a tenth of a percent, expect rates to average 4% in 2016,” Freddie Mac researchers note.
Housing prices: Home prices will rise by 4.8% in 2016 and by another 3.5% in 2017, Freddie Mac researchers predict. These rising home prices will lead home owners’ to see more equity gains.

Wallingford Market Snapshot – 90 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$362,075	$349,950	$59,900	$1,050,000	111

Single/Twin Market Snapshot – 67 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$430,062	$390,000	$110,000	$1,050,000	101

Townhouse/Condo Market Snapshot – 23 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$164,026	$169,900	$59,000	$389,900	140

*DOM = Days On Market

8 Wallingford PA homes went under contract

10 new listings came onto the market

No listings expired

1 listing was withdrawn from the market

56 homes are Under Contract at this time

1 Wallingford PA home sold last week

Wallingford Homes Sold April 18, 2016 To April 24, 2016
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
733 Hemlock Road	4	4.1	$696,500	04/20/16	6
Average			$696,500		6

Wallingford PA Real Estate – Wallingford, PA 19086

New Listing – 15 Medbury Lane – Wallingford, PA

April 21, 2016 by admin

Welcome To 15 Medbury Lane – Wallingford, PA

15 Medbury Lane – Wallingford, PA 19086

This attractive 3 bedroom 2 full bath home has views of the Springhaven golf course and boasts a spectacular conservatory addition with vaulted glass ceilings that also includes a full bathroom. The first floor has a nice sized living room and dining room with french doors leading to the addition. The second floor features three bedrooms and a full hall bath.

Living Room

Light Filled Conservatory Addition

Master Bedroom

Wallingford PA Real Estate - Wallingford PA - 15 Medbury Lane - Sunroom From Back Of House

Conservatory Addition From Back Yard

Back Yard View Of Springhaven Golf Course

Wallingford PA Real Estate – Wallingford, PA 19086

Use & Occupancy Requirements Can Derail Settlements – New Law Aims To Provide Relief

April 21, 2016 by admin

Cracked Sidewalks Marked For Repair

Does a cracked sidewalk or missing house numbers make a home unfit for habitation? According to many municipalities it does and these conditions can result in settlement delays under current laws and some municipalities have chosen to define “unfit for habitation” as any property maintenance violation defined in their requirements, no matter how minor.

There is good news on the horizon though. An amendment to House Bill 1437 which passed unanimously this week in the Pennsylvania House would require that certificates be issued by municipalities who choose to conduct resale code inspections, regardless of the nature of code violation found. The amendment creates a new category of Temporary Access certificate that would allow a sale to proceed even if a home is determined to be unfit for habitation, but require that substantial code violations be corrected prior to the new owner inhabiting the property. It would also require that all other minor code violations be corrected within a certain time frame, with financial and other penalties left in place for failure to comply.

Check out the Use & Occupancy application and requirements for Nether Providence Township.

Wallingford PA Real Estate – Wallingford, PA 19086

U.S. News 2016 High School Rankings – Strath Haven Among Top 10 Statewide

April 20, 2016 by admin

Wallingford PA Real Estate - Wallingford PA - Strath Haven High School

US News Ranks Strath Haven #7 Among High Schools In PA

Strath Haven High School has been ranked #7 among 676 high schools in 582 school districts across Pennsylvania in the 2016 U.S. News And World Report of Best High Schools survey.

Two other Central League schools were also in the top 10 rankings statewide – Connestoga High School was #3 and Lower Merion was #5.

The U.S. News survey ranks more than 21,000 public high schools in 50 states and the District of Columbia. Schools were awarded gold, silver or bronze medals based on their performance on state assessments, their graduation rates and how well they prepare students for college

Wallingford PA Real Estate- Wallingford, PA 19086

Wallingford PA Real Estate – April 11, 2016 To April 17, 2016

April 19, 2016 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 April 19, 2016 with an average asking price of $367,362.

Foreclosure activity continues to decline but the change year-over-year in February was minimal, actually smaller than the decrease from January to February, and completed foreclosures remain more than 50% higher than before the housing crisis. CoreLogic said that there were 34,000 completed foreclosures in February compared to 38,000 in February 2015 a decline of 10 percent. On a month-over-month basis foreclosures declined by 13.9% from the revised January 2016 estimate of 39,000 foreclosures.

Through April 15 of this year there were 4 Bank Owned Foreclosure sales reported in Wallingford versus 5 in 2015 for the same period last year.

Wallingford Market Snapshot – 95 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$367,362	$359,500	$59,900	$1,050,000	118

Single/Twin Market Snapshot – 72 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$431,983	$392,500	$110,000	$1,050,000	110

Townhouse/Condo Market Snapshot – 23 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$165,070	$174,900	$59,000	$389,900	140

*DOM = Days On Market

7 Wallingford PA homes went under contract

11 new listings came onto the market

No listings expired

1 listing was withdrawn from the market

47 homes are Under Contract at this time

4 Wallingford PA homes sold last week

Wallingford Homes Sold April 11, 2016 To April 17, 2016
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
406 Austin Court	2	1.0	$34,000	04/12/16	31
1000 Putnam Blvd #507	1	1.0	$82,000	04/14/16	313
15 Brookside Road	5	4.1	$630,000	04/15/16	252
1310 Putnam Blvd	2	2.1	$159,500	04/15/16	205
Average			$226,375		200

2 homes sold with a Seller Assist:

– 1000 Putnam Blvd #507 – $2,000

– 1310 Putnam Blvd – $4,500

Wallingford PA Real Estate – Wallingford, PA 19086

Archives for April 2016

15 Medbury Lane – Wallingford, PA 19086

S. Clark Kendus