Archives for January 2018

What Is The Difference Between A REALTOR® And A Real Estate Agent?

January 11, 2018 by admin

Whether you are selling or buying a home, hiring a competent real estate professional to assist you is a top priority. As you search for representation, you may come across agents with various titles. What is the difference between a real estate agent, REALTOR® or broker, and which one is right for you?

The terms REALTOR® and real estate agent are frequently used interchangeably, but that is incorrect. Not every real estate agent is a REALTOR®.

Real Estate Agent, Associate or Salesperson. If an individual holds a real estate license in the state in which you are buying or selling, he or she has earned the designation of real estate agent – and may also use the term real estate associate or salesperson. While requirements may vary from state to state, there is a minimum number of class requirements and a state test to be passed in order to earn a real estate license.

REALTOR®. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to the 17 Articles in the REALTOR® Code of Ethics.

To earn the REALTOR® designation has taken the requisite coursework and demonstrated specific skills, performance and knowledge in a particular area of the real estate industry.

Real Estate Broker. A broker has taken courses beyond the agent level that are required by state laws and has passed an additional broker’s license exam. Some brokers work independently, while others hire real estate agents to work for them. In a practical sense the Broker is usually referred to the as the manager as well. Every real estate offices is required to have a Real Estate Broker associated with the office. A broker bears responsibility for the actions of the real estate agents under his or her supervision.

Real Estate Associate Broker. An associate broker has taken additional courses and earned a broker’s license, but works under the management of another broker.

While individuals with any one of the previous designations will be qualified to help you buy or sell a property, performing your due diligence on their background is the most crucial aspect of hiring the right real estate representative. Conduct interviews, research sales track records and seek out references before hiring a real estate representative.

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – December 2017

January 9, 2018 by admin

Wallingford PA Real Estate = Wallingford PA - Sanat Neighborhood Visit - From Garden City Fire Company

Santa Visited Local Neighborhoods Courtesy Of The Garden City Fire Company

There were 17 December home sales in Wallingford PA which is down 5 homes from last year’s total of 22 closed transactions. The average selling price posted a 41.0% increase to $347,229 due in large part to a heavier weighting of single home transactions. Sales consisted of 15 single family homes, 1 condo, and 1 row home. A total of $5,902,900 in real estate changed hands during the month – 5 fewer homes sold for almost a half million dollars more than last year’s monthly total.

December’s 15 single family homes sold for an average price of $379,467 and averaged 38 days on the market vs an average selling price of $279,612 and 70 days on market last December.

415 Sheffield Drive had the highest selling price for the month at $575,000.

The year 2017 ends with 221 closed transactions vs 214 for 2016. The average selling price for Wallingford homes in 2017 rose a healthy 15.5% over last year to $348,849.

Single homes posted a sizeable gain of 14.0% over last year with the average selling price for the year rising to $404,317. Single home sales accounted for 170 of the 221 transactions during the year – a 77% share.

Thirteen listings went under contract during the month – 12 single family homes and 1 condo – with an average asking price of $344,000 and an average of 59 Days On Market.

There are 20 settlements scheduled in January, 4 in February, 1 in March, and 1 in April.

Wallingford PA Closed Transactions – December 2017
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
230 Grandview Road	3	1.1	$308,500	12/01/17	75
216 W Brookhaven Road	4	2.2	$470,000	12/05/17	10
709 Hemlock Road	4	2.1	$575,000	12/08/17	3
101 Emerald Street	4	3.1	$354,500	12/13/17	81
723 Scott Lane	4	3.1	$440,000	12/14/17	21
319 Palmers Lane	5	4.0	$490,000	12/14/17	2
522 Georgetown Road	3	2.1	$369,000	12/14/17	5
28 Medbury Lane	4	2.1	$395,000	12/15/17	87
111 W Brookhaven Road	5	2.1	$395,000	12/15/17	39
800 Avondale Road #3B	1	1.0	$84,000	12/15/17	12
758 Pennsylvania Avenue	2	1.0	$110,000	12/21/17	52
205 Elm Road	2	1.0	$175,000	12/20/17	31
846 Parkridge Drive	4	2.1	$380,000	12/28/17	52
202 Plush Mill Road	5	3.2	$440,000	12/28/17	30
815 S Providence Road	3	2.0	$215,000	12/28/17	99
762 Pennsylvania Avenue	3	1.0	$126,900	12/29/17	205
415 Sheffield Drive	5	3.1	$575,000	12/29/17	9
AVERAGE			$347,229		46

* DOM = Days On Market

6 of 17 transactions had a Seller Assist:

– 230 Grandview Road – $12.500

– 101 Emerald Street – $9,000

– 846 Parkridge Drive – $5,839

– 202 Plush Mill Road – $10,000

– 762 Pennsylvania Avenue – $1,700

– 800 Avondale Road #3B – $750

Financing Methods

– Conventional Mortgage -15 transactions

– Cash – 1 transactions

– FHA Mortgage – 1 transaction

**WALLINGFORD SINGLE HOMES – DECEMBER 2017 – 15 SALES**
Avg Price	Median Price	Low	High	DOM*
$379,467	$395,000	$110,000	$575,000	38

**WALLINGFORD ROW HOMES – DECEMBER 2017 – 1 SALE**
Avg Price	Median Price	Low	High	DOM*
$128,800	$128,800	$128,800	$128,800	205

**WALLINGFORD CONDOS – DECEMBER 2017- 1 SALE**
Avg Price	Median Price	Low	High	DOM*
$84,000	$84,000	$84,000	$84,000	12

**WALLINGFORD – DECEMBER 2016 VS DECEMBER 2017**
	SALES	AVERAGE	DOM*	% ORIG LIST	% LAST LIST
2016	22	$246,332	83	90.1%	94.5%
2017	17	$347,229	46	93.1%	96.4%
	-22.7%	41.0%	-44.6%	3.0%	1.9%

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – January 1, 2018 To January 7, 2018

January 9, 2018 by admin

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

There are 47 homes listed for sale in Wallingford PA and Nether Providence Township on January 9, 2018 with an average asking price of $370,462.

According to the National Association of Realtors®’ 2017 National Community and Transportation Preference Survey, 62% of millennials and 55%t of the silent generation, defined as those born before 1944, covet living in areas where they can walk to entertainment, such as shops and dining.

Overall, the majority of all Americans (53%) prefer to live in areas with homes with small yards, but living within walking distance to facilities in their communities, as opposed to living in a larger home unable to walk to amenities. This has increased 5% in the past two years. The survey found that the more walkable a community is, the more satisfied its residents are. Sixty percent of consumers would spend more on a home to live in a walkable area, near parks, entertainment and dining, and millennials are the generation most likely to spend more. Women, especially those under 50, find living in a walkable area, along with access to public transit, important.

Wallingford Market Snapshot – 47 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$370,462	$364,000	$94,900	$790,000	122

Single Home Market Snapshot – 31 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$454,656	$449,900	$174,900	$790,000	125

Twin Home Market Snapshot – 3 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$161,567	$149,900	$94,900	$239,900	150

Townhouse Market Snapshot – 9 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$252,909	$215,000	$113,000	$435,000	125

Condo Market Snapshot – 4 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$139,125	$136,750	$105,000	$178,000	76

*DOM = Days On Market

3 Wallingford PA homes went under contract

2 new listings came onto the market

1 listing expired

1 listing was withdrawn from the market

26 homes are Under Contract at this time

3 Wallingford PA homes sold last week

Wallingford Homes Sold January 1, 2018 To January 7, 2018
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
418 Oak Valley Road	4	3.0	$475,000	01/03/18	33
304 E Country Club Lane	3	2.0	$423,000	01/05/18	639
1364 Putnam Blvd	2	2.1	$185,000	01/05/18	158
AVERAGE			$361,000		277

No homes sold had a Seller Assist

Wallingford PA Real Estate – Wallingford, PA 19086

New Tax Law Restricts Interest Deduction On Home Equity Loans

January 5, 2018 by admin

For the millions of Americans who use their homes as a personal bank in the form of home equity loans – also know as a HELOC (Home Equity Line Of Credit) – the new tax legislation signed into law last month has an unwelcome surprise.

Under the new law the interest paid on home equity loans will no longer be tax-deductible. However interest on a HELOC loan that is obtained to acquire, build or substantially improve the residence will remain deductible.

Historically, borrowers could deduct home equity interest on loans up to $100,000 ($50,000 for married people filing separately). And unlike the deduction for interest on primary mortgages, home equity deductions are disappearing for both new and existing borrowers. No loans will be grandfathered.

In the past, homeowners have used their home equity to get low, tax-deductible interest rates for a myriad of reasons such as a large purchase, debt consolidation, or financing a college education. Because HELOC loans are secured by real estate, rates on these loans are considerably lower than rates for an unsecured loan. A homeowner scores a lower interest rate and was able to to deduct the interest from their taxes. The new law closes this “loophole” for using home equity as a cheap source of consumer financing.

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – December 25, 2017 To December 31, 2017

January 2, 2018 by admin

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

There are 49 homes listed for sale in Wallingford PA and Nether Providence Township on January 2, 2018 with an average asking price of $368,513.

Each year, Fannie Mae and Freddie Mac adjust their limits for conventional, conforming loans based on changes in median home prices. For 2018, the companies are increasing loan limits nearly 7%, to a maximum loan amount of $453,100. That’s up from $424,100. In the country’s most expensive markets, such as San Francisco and New York, loans can go as high as $679,650.

Wallingford Market Snapshot – 49 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$368,513	$359,900	$105,000	$790,000	113

Single/Twin Market Snapshot – 36 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$422,901	$408,950	$155,000	$790,000	116

Townhouse/Condo Market Snapshot – 13 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$217,898	$195,900	$105,000	$435,000	103

*DOM = Days On Market

2 Wallingford PA homes went under contract

1 new listing came onto the market

1 listing expired

2 listings were withdrawn from the market

24 homes are Under Contract at this time

5 Wallingford PA homes sold last week

Wallingford Homes Sold December 25, 2017 To December 31, 2017
ADDRESS	BED	BATH	PRICE	SETTLED	DOM*
815 S Providence Road	3	2.0	$215,000	12/28/17	99
846 Parkridge Drive	4	2.1	$380,000	12/28/17	52
202 Plush Mill Road	5	3.2	$440,000	12/28/17	30
762 Pennsylvania Avenue	3	1.0	$126,900	12/29/17	205
415 Sheffield Drive	5	3.1	$575,000	12/29/17	9
Average			$347,380		74

Three homes sold with a Seller Assist

– 846 Parkridge Drive – $5,839

– 202 Plush Mill Road – $10,000

– 762 Pennsylvania Avenue – $1,700

Wallingford PA Real Estate – Wallingford, PA 19086

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Archives for January 2018

S. Clark Kendus