Archives for November 2017

Delaware County Awards Contract To Begin Countywide Reassessment

November 30, 2017 by admin

Avondale Springs Townhouses - Wallingford PA

Avondale Springs Townhomes Anong 200,000 Properties In Delaware County To Be Reassessed

Acting on the March 2017 court order by Delaware County Common Pleas Court Judge Charles B. Burr that the county undertake the first complete reassessment of all property valuations in the county since 2000, the Delaware County County Council yesterday awarded a $6 million dollar contract to Tyler Technologies to conduct the countywide reassessment.

The court order for the reassessment originates from a lawsuit filed by a homeowner in Rose Valley and Haverford who argued that the county’s methodology for assessing the value of homes lacked uniformity and therefore violated the Pennsylvania Constitution.

Property assessments form the value basis which are used by local governmental bodies to levy property taxes and determine tax bills. The goal of the reassessment is to distribute the tax burden more fairly, but there are bound to be winners and losers as a result of this process.

By law a reassessment must be revenue neutral, so collectively taxpayers are not expected to pay more or less as a result, though some individual properties will pay more or less after a new basis is established.

County Council also approved a contract Wednesday for a company to provide aerial photographs of properties to use in the reassessment. The photographs will be used to compare building permits and other existing property information to actual property characteristics.

Property owners are expected to receive notification of the reassessment by mail and will be asked to confirm property data with information on file with the County. In some cases assessors will make in person visits to some homes.

Property owners will receive their new assessments in 2020, and will be able to file appeals before the new assessments are reflected in their property taxes in 2021.

Wallingford PA Real Estate – Wallingford, PA 19086

Swarthmore Real Estate – November 20, 2017 To November 26, 2017

November 29, 2017 by admin

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

There are 16 homes listed for sale in Swarthmore on November 29, 2017 with an average asking price of $424,975. There is 1 settlement scheduled for this week.

Swarthmore Market Snapshot – 16 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$424,975	$444,250	$99,000	$895,000	185

Single/Twin Market Snapshot – 11 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$564,891	$495,900	$345,500	$895,000	251

Condo Market Snapshot – 5 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$117,160	$110,000	$99,000	$149,900	40

*DOM = Days On Market

No Swarthmore homes went under contract

No new listings came onto the market

No listings expired

No listings were withdrawn from the market

7 homes are Under Contract at this time

No Swarthmore homes settled last week

Swarthmore Homes Sold November 20, 2017 To November 26, 2017
ADDRESS	BED	BATH	PRICE	SETTLED	DOM
– No Homes Sold –	–	–	–	–	–

Swarthmore Real Estate – Swarthmore, PA 19081

Planning To Buy A House in 2018? – Get Your Finances In Order Now

November 29, 2017 by admin

Proper preparation is key if you are planning to buy a house in 2018. Start with these steps in order to get your finances in shape.

Check Your Credit Score

Probably the most important step you need to undertake is to do a credit check up. If you have not checked your credit report in the past year, you definitely want to take a look now. You are entitled to receive three free credit reports a year, one from each of the main credit-reporting bureaus, on AnnualCreditReport.com. Make sure that all of the loans and accounts listed under your name actually belong to you and that the account balances are accurate. It can take several months to have an error removed from your credit report. So the earlier you look, the more time you give yourself to fix the problem before you start applying for loans.

A credit score is a numerical representation of your credit report. FICO scores range from 300 to 850, and the higher your score, the better. You will get the best interest rate on a loan if your score is 740 and above and a higher credit score should net you a lower mortgage rate.

Pay your bills on time, since payment history is the primary factor that goes into a person’s FICO score. It also helps to bring down the balances on credit cards to below 30% of the available credit.

Make sure you have enough credit. Conventional loans require at least three credit tradelines -any combination of credit cards, student loans, car loans – that have been active within the past 12-24 months. FHA loans require two tradelines. It is fine to have more, but if you have fewer, you will find it difficult to obtain a mortgage.

Practice Fiscal Restraint

Resist the urge to take credit card companies up on the latest low interest deals. Opening new credit may hurt your chances of getting a mortgage, or at least of getting the best rate on a loan. By opening additional lines you can change the change your credit score and it could jeopardize your shot at getting the best interest rates on your loan.

Tighten your spending in the months before you apply for the mortgage so that you can have as much cash available as possible for your purchase. Do not purchase big ticket items in the months leading up to the start of your home search. Do not overspend on during the Holiday shopping season and squelch your impulse purchases.

Build Up Your Cash Reserves

You will need money for a down payment, closing costs, lender application fess, and a host of other costs. Beef up your cash reserves over the next several months. Instead of asking for gifts for the holidays suggest cash that can be put toward your new home. Getting a year end bonus? Earmark that for your home purchase too, along with any tax refund that you might be getting.

Get any cash that you may have on hand into your bank account at least 3 months prior to applying for a mortgage. Lenders will want a paper trail for any money that is deposited into your accounts that is not derived from your normal means of income. Unexpected cash appearing in accounts during your application process can be a loan killer.

If you are expecting any gifts that will be used for your home purchase get them into your accounts ahead of time. This will eliminate the need to go through the documentation process required for gifts.

Research Mortgage Lenders

Start researching mortgage lenders. Ask friends and family for any lender references that they may be able to give. If you have a bank you have been with for years try them as well. Your real estate can also be a source of lenders for you. Compare lenders against each other. Look at what they offer, costs, points, and how long to close. Also inquire to their availability to you during the process and whether or not they will attend your closing.

You should prepare your financial documents that you will need several months in advance of the actual purchase. This is a list of the documentation that you will to apply for a mortgage:

– Tax returns for the past two years
– W-2 forms for the past two years
– Paycheck stubs from the past few months
– Proof of mortgage or rent payments for the past year
– An accounting of all of your debts, including credit cards, student loans, auto loans, and alimony
– An accounting of all your assets, including bank statements, auto titles, real estate, and any investment accounts

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – November 20, 2017 To November 26, 2017

November 28, 2017 by admin

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

There are 64 homes listed for sale in Wallingford PA and Nether Providence Township on November 27, 2017 with an average asking price of $406,476.

Developers are continuing to shrink the size of new single-family homes, according third-quarter housing data compiled by the National Association of Home Builders. The median square footage of a single-family home was 2,378 square feet in the third quarter.

In the years following the Great Recession, builders were focused on the higher end of the market, catering to larger-sized homes. But more recently, builders have renewed their focus on the entry-level market, and NAHB predicts square footage of new homes to continue to decrease.

Wallingford Market Snapshot – 64 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$406,476	$419,950	$115,000	$790,000	104

Single/Twin Market Snapshot – 53 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$438,943	$434,900	$174,900	$790,000	101

Townhouse/Condo Market Snapshot – 11 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$250,043	$195,900	$115,000	$490,000	115

*DOM = Days On Market

1 Wallingford PA home went under contract

1 new listing came onto the market

No listings expired

1 listing was withdrawn from the market

32 homes are Under Contract at this time

4 Wallingford PA homes sold last week.

Wallingford Homes Sold November 20, 2017 To November 26, 2017
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
211 Wisteria Lane	5	4.1	$565,000	11/20/17	196
609 Vernon Street	3	1.1	$105,000	11/20/17	41
207 Sycamore Lane	5	4.1	$690,722	11/21/17	90
202 Highland Avenue	6	3.1	$780,000	11/22/17	13
Average			$535,181		85

2 homes sold with a Seller Assist

– 207 Sycamore Lane – $20,722

– 202 Highland Avenue – $23,400

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – November 13, 2017 To November 19, 2017

November 21, 2017 by admin

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

There are 67 homes listed for sale in Wallingford PA and Nether Providence Township on November 21, 2017 with an average asking price of $404,910.

Single-family rentals that are either detached or townhomes are developing faster than any other segment of the housing market, according to the Urban Institute. They are currently outpacing single-family home purchases and apartment living.

Within the last three years, single-family rentals have surged 30%. Single-family rental homes and townhomes comprise 35% of the nation’s 44 million rental units. That percentage is up from 31% in 2006.

Millennials are largely fueling this trend, but Americans over 55 years old are also showing a growing interest in renting. The number of renters aged over 55 has increased by 28% between 2009 and 2015, and many are showing a desire to rent homes instead of apartments.

Wallingford Market Snapshot – 67 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$404,910	$415,000	$115,000	$790,000	100

Single/Twin Market Snapshot – 56 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$435,328	$432,400	$174,900	$790,000	98

Townhouse/Condo Market Snapshot – 11 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$250,052	$195,900	$115,000	$490,000	108

*DOM = Days On Market

4 Wallingford PA homes went under contract

3 new listings came onto the market

No listings expired

2 listings were withdrawn from the market

32 homes are Under Contract at this time

6 Wallingford PA homes sold last week.

Wallingford Homes Sold November 13, 2017 To November 19, 2017
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
408 Sheffield Drive	3	2.0	$301,900	11/14/17	147
846A Putnam Blvd	2	1.0	$97,000	11/15/17	213
722 Beechwood Road	3	2.0	$310,000	11/15/17	4
302 E Country Club Lane	5	3.1	$600,000	11/15/17	4
723 Pine Ridge Road	4	2.1	$275,000	11/17/17	74
523 W Georgetown Road	4	3.1	$420,000	11/17/17	21
Average			$333,983		77

523 W Georgetown Road sold with a $1,240 Seller Assist

Wallingford PA Real Estate – Wallingford, PA 19086

Archives for November 2017

Check Your Credit Score

Practice Fiscal Restraint

Build Up Your Cash Reserves

Research Mortgage Lenders

S. Clark Kendus