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Wallingford News – Page 11

Wallingford PA Real Estate

By Clark Kendus

WSSD Faces Proposed State Budget Cuts

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Wallingford Real EstateThe financial impact of Governor’s Corbett’s proposed state budget cuts on the budget of Wallingford Swarthmore School District have been detailed. The District is estimating a reduction in state funding in the amount of $683,000 – the total budget for the district amounts to nearly 64 million dollars. The cuts amount to a decrease in the basic education subsidy of $243,123, a $200,000 decrease in Accountability Block Grant funds, and a decrease of $200,000 for Social Security reimbursements. A decrease of $64,000 for students who live in the district but attend charter schools is also predicted.

To offset these proposed cutes the district forsees a savings of $714,000 due to retirements, decreased use of outside contractors, and the elimination of some positions.

Nether Providence Rental Regulations Finalized

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The Nether Providence Board of Commissioners have finalized the regulations regarding rental property inspections and regulations in the township. The ordinance that will be adopted in April 2011 includes the following

– The implementation of a one time $25 registration fee for all rental properties. The landlord will be responsible for notifying the township of a tenant change, but there will be no fee charged when a change in tenant occurs.

– An annual inspection fee of $75 will be imposed, with a $25 reinspection fee.

Wallingford PA Real Estate – Wallingford, PA 19086

Nether Providence Township Rental Inspections

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The Nether Providence Township’s Rental Inspection Committee will present their recommendations to the Board of Commissioners on February 3 at 7:30 PM at the township building. The committee was charged with proposing a list of inspection requirements and suggested criteria for the structure of registration. Some highlights from the draft recommendation:

•Inspections every other year

•Inspection fee is $75.00 (Apartments $40.00)

•One time home registration with a fee of $25.00, per unit/home. If a tenant changes, township will require information, but there is no fee.

•Curbing removed from inspection list, with later discussion around need, requirement, etc.

The final criteria will be set by the Board of Commissioners.

2010 vs 2009 – The Numbers Are In

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Now that the year 2010 is behind us, let’s take a brief look at how the local Nether Providence real estate market fared in 2010 as compared to 2009.

The biggest factor for the year was the influence of the extension of the Homeowners Tax Credit which affected transactions that went under contract by April 30. The Tax Credit extension front loaded many transactions to the first four months of the year, and was a definite factor in the slowdown of activity after April 30.

                                             2009 VS 2010 TOTALS
           
  UNITS AVERAGE DOM STL TO ORIG STL TO LAST
2009 161 $309,441 127 91.65% 95.43%
2010 125 $322,253 149 92.35% 95.81%
  -22.4%   4.1% 17.3% -0.7% 0.38%

 

There were 36 fewer properties sold during 2010 than 2009, a decrease of 22.4%. The average sale price was up by 4.1%, and as many are aware the time it took to sell a home – Days On Market – DOM – increased substantially by 17.3%. The ratios of selling price to both the original list and last list price were virtually unchanged.

Interested in additional market data for 2010 – just ask

S. Clark Kendus

Sales Associate

Cavanagh Real Estate
112 West Front Street
Media, PA 19063
Cell: (610)-322-6734
Office: (610) 565-4100

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