Buyer Information

501 Blakeley Road – 3 Bed 1.5 Bath Colonial In Wallingford – OPEN HOUSE SUNDAY OCT 9 From 1 To 3

October 6, 2011 by admin

: 501 Blakeley Rd – Just Listed – Open House – Sunday Oct 9 – 1 To 3

501 Blakeley Road – Lots Of House For $234,900

OPEN HOUSE SUNDAY OCTOBER 9 FROM 1 To 3

The sunlit enclosed porch welcomes you to this attractive 3BR/1.5BTH Colonial on a large corner lot.

Wallingford Real Estate - 501 Blakeley Road - Porch

Inviting Enclosed Front Porch

Enter into a tile foyer with a faimly great room with an impressive 14 ft natural stone wood burning FP on the back wall.

Wallingford Real Estate - 501 Blakeley Road - Family Room Fireplace

Full Wall Natural Stone Fireplace in Family Room

The 1st flr also features a large dining room, perfect for entertaining, and a spacious eat in kitchen with oak cabinetry,and an exit to the rear yard.The basement is finished with a powder room that has updated fixtures.There is also plenty of storage and a heater that is less than 1 year old, and central air conditioning unit that is 3 years old. The unfinshed portion of the basement also has a walk out exit to the back yard, and laundry facilities,and stainless steel oil tank.

Wallingford Real Estate - 501 Blakeley Road Kitchen

Large Eat in Kitchen

Ascending to the 2nd floor there are 3 large bedrooms.The MBR has 2 double closets and a third closet for storage,as does the second bedroom.The hall bath has been updated with new fixtures and a tub surround. There are replacement windows throughout the home, as well as newly refinished hardwood floors on both floors. This spacious and well maintained home has a great location, in an award winning school district.

Wallingford Real Estate - 501 Blakeley Road - Dining Room

Large Dining Room - Perfect For Entertaining!

A great house awaits a new family!

Wallingford Real Estate - 501 Blakeley Road - Master Bedroom

Gleaming Hardwood Floors And Double Closets In The Master

Real Estate ABC’s – Agreement Of Sale Timeline

October 5, 2011 by admin

Congratulations! You have found the home of your dreams, the seller has accepted your offer and you have signed an Agreement Of Sale. The clock is now ticking and that process starts with the execution date of the contract. The execution date is the day upon which all changes to the agreement of sale have been made, and signatures and/or initials of all parties have been obtained. The execution date also revolves around the delivery of the executed, signed, contract to agents involved in the transaction. Delivery to the agent constitutes delivery to the client, and in today’s digital age, delivery most of the time is in the form of an electronic transmission via Email or fax. It is common practice that buyers are the first to sign the contract and first to initial any changes. Once the buyers have affixed the proper signatures/initials the seller then signs/initials, and the contract is delivered to the buyer’s agent. The execution date also is dependent upon the receipt of consideration, the delivery of an acceptable form of deposit money, the form of which is most always a check. Without consideration there is no contract.

Time is of the essence in a contact. This means that all dates and time limits within a contract must be met in order to avoid being in default on The Agreement Of Sale.

Let’s review the major day milestones associated with an Agreement Of Sale. Standard contract defaults for time will be used in this example.

DAY 1

The day after the execution date is referred to as day 1 of the contract. This date forms the basis for which all future dates in the contract are dependent upon. It is the first full day after the execution date. If a contract is signed and delivered at 10:00 PM, day 1 is the next day, not the day the contract is signed and delivered. The contract clock is a seven day clock, and all days are included when calculating time. Holidays and weekends are included in the counting.

MORTGAGE APPLICATION- 7 DAYS

The standard time frame for a buyer who requires mortgage financing to apply for a mortgage is 7 days. The contract stipulates that the buyer must meet with a mortgage lender and make a formal application for a mortgage in this time period.

INSPECTION CONTINGENCY – 10 DAYS

The standard time frame for the buyer to perform inspections is 10 days. In this time period the buyer must perform all inspections, and craft what is known as a Reply To Inspection, which details what actions the buyer wants the seller to take as a result of the inspections – repairs, credits, or reduction in sales price. The amount of time for inspections must take into consideration the most difficult and time consuming inspections being considered, and the time it takes for the inspector to provide a full report of the inspection results. For example a stucco inspection – today it can take weeks for the results of a stucco inspection to be ready. Failure to act upon inspection results within this time period may result in the waiver of the inspection contingency, and acceptance of the property regardless of the inspection’s findings.

SELLER RESPONSE TO INSPECTION – 15 DAYS

The seller has 5 days from the end of the Inspection Contingency period to respond in writing to the buyer regarding the Reply To Inspection. Since the normal Inspection Contingency period is 10 days, 15 days is the time frame for a seller response.

RESALE CERTIFICATE AND ASSOCIATION RULES – 15 DAYS

If the property being purchased is part of a homeowners association, or a condominium the seller must order what is known as a Resale Certificate and the associated Rules and Regulations for the community within 15 days.

MORTGAGE COMMITMENT DATE

The Mortgage Commitment date is not fixed to the execution date of the contract. Calculation of the date should take into consideration the particular practices and procedures of the lender involved.The commitment date is the day on which the mortgage lender must produce what is known as a Commitment Letter granting conditional approval for the loan. If the commitment date is not met the seller has the right to terminate, in writing, the agreement.

Time frames are negotiable in the process of negotiation. The standard time periods are generally sufficient for most transactions. Consider any special circumstances and conditions that apply to you as you negotiate the terms of your agreement.

Your agent should inform you of all the relevant dates and time frames that are critical in the contract. It is good practice to review the dates with your agent and put them in writing so as not to miss any milestones. Remember you have entered into a legal contract, and in doing so a contract requires specific performance of the tasks outlined in a timely manner, or else bad things can happen.

Wallingford Real Estate – September 2011

October 3, 2011 by admin

WALLINGFORD REAL ESTATE

Fourteen Strath Haven Middle School students designed and built the above Haven mascot themed sculpture near the school entrance over the summer break. The 5 foot high concrete sculpture incorporates the Panther mascot and the word HAVEN in it’s design.

September marks the third month in a row that that sales increased over the same month of the previous year, with 15 Wallingford homes sold in September 2011 as opposed to 7 sales in September 2010. Fifteen sales was the second highest total for September recorded in the past five years, eclipsed only in August 2009 when there were 19 sales. This upswing in homes sold maintains the trend begun earlier in the summer.

Wallingford September Sales – Last 5 Years

2007 – 10 sales

2008 – 12 sales

2009 – 19 sales

2010 – 7 sales

2011 – 15 sales

The average Days on Market was 100 days.

Average sales price continues to fall relative to last year, slipping 4% from the price level of September 2010 to $282,227.

There were 15 Wallingford homes sold during the month of September 2011.

WALLINGFORD HOMES SOLD – SEPTEMBER 2011

Address	Bed	Bath	Price	Settled
704 Maryland Avenue	1	1.0	$65,000	09/01/11
605 Crum Creek Road	4	2.5	$460,000	09/02/11
712 Pennsylvania Avenue	3	2.0	$80,000	09/09/11
6 Strathmore Court	4	2.5	$712,500	09/13/11
1014 Putnam Blvd	3	2.5	$194,000	09/14/11
211 Woodcrest Road	3	2.5	$365,000	09/16/11
714B Putnam Blvd	2	1.0	$130,000	09/16/11
302 Woodcrest Road	4	2.5	$405,000	09/21/11
313 Crestview Circle	3	2.5	$337,000	09/23/11
209 Stanford Drive	3	1.5	$219,900	09/23/11
206 Willow Road	3	1.5	$220,000	09/23/11
805 Springlawn Drive	3	2.0	$320,000	09/23/11
999 Putnam Blvd	3	2.5	$209,000	09/26/11
800 Avondale Road – Unit 7E	1	1.0	$106,000	09/27/11
31 Waterford Way	5	2.5	$410,000	09/28/11

These 15 Wallingford homes were on the market an average of 100 days, with the average sold price representing 89.39% of the original asking price, and 93.31% of the last asking price.

For the short and long of it, 1014 Putnam Blvd was on the market for25 days, while 6 Strathmore Court was on the market 177 days.

Conventional financing was the financing method of choice in 9 transactions, 4 were cash deals,1 utilized FHA financing, and 1 used VA financing.

209 Stanford Drive was a Bank Owned Forclosure.

A Seller Assist was utilized in 3 of the 15 Wallingford homes sold, ranging from $750 to $10,196.

211 Woodcrest Road – $6,000

209 Stanford Road – $10.196

206 Willow Road – $750

Wallingford September 2011 Activity vs September 2010

	*SALES*	*AVERAGE*	*DOM*	*STL TO ORIG*	*STL TO LAST*
2010	7	$294,286	67	96.86%	96.96%
2011	15	$282,227	100	89.39%	93.31%
	114.0%	– 4.0%	49.0%	-7.47%	-3.65%

SWARTHMORE REAL ESTATE

4 Swarthmore homes sold during the month of September 2011.

SWARTHMORE HOMES SOLD – SEPTEMBER 2011

Address	Bed	Bath	Price	Settled
328 Park Avenue	3	1.5	$272,500	09/14/11
516 Walnut Lane	5	2.2	$385,000	09/16/11
801 Yale Avenue – #814	2	2.0	$140,000	09/23/11
215 Cornell Avenue	7	3.4	$800,000	09/23/11

These 4 Swarthmore homes sold for an average price of $399,375, and were on the market an average of 234 days, fetching 91.14% of original asking price, and 94.95% of last asking price.

For the short and long, 215 Cornell Avenue was on the market 36 days, and 801 Yale Avenue #814 was on the market 720 days.

1 transaction utilized conventional financing, 2 were cash deals, and 1 used other financing.

Comparing this year’s Swarthmore activity with the past 4 years:

Swarthmore September Sales – Last 5 Years

2007 – 4 sales

2008 – 6 sales

2009 – 0 sales

2010 – 4 sales

2011 – 4 sales

Swarthmore September 2011 Activity vs September 2011

	*SALES*	*AVERAGE*	*DOM*	*STL TO ORIG*	*STL TO LAST*
2010	4	$443,625	263	90.40%	93.71%
2011	4	$399,375	234	91.14%	94.95%
	0.0%	-10.0%	-11.0%	0.74%	1.24%

www.wallingfordpahomes.com – Wallingford, PA 19086

1342 Putnam Blvd – Weston Village – Open House Sunday Sept 11 From 2 To 4

September 8, 2011 by admin

1342 Putnam Blvd – Weston Village

Summer is winding down, the time is perfect to look for a new Wallingford home. Start shopping as mortgage interest rates have reached record lows, and your purchasing power has never been stronger! Begin your search with this 2 bedroom 2.5 bath Weston Village town home listed at $196,999.

Come to the OPEN HOUSE– Sunday Sept 11 from 2 to 4.

Brand new Heat Pump and Air Conditioning installed June 2011, new roof in 2007. A perfect maintenance free first time home or for someone looking to downsize. This well maintained Weston Village town home features a very convenient location within the prestigious Wallingford-Swarthmore School District.

: Finished Basement

First floor has ceramic tile entry foyer, powder room, EIK kitchen with a new dishwasher, large dining room and living room combination. Second floor has 2 spacious bedrooms. Master bedroom has large double closets and an attached full bath with a shower. Laundry facilities are conveniently located on this level as well. The basement is full and finished, with a sliding door leading out to patio which overlooks open space. A workshop and an additional storage room complete the lower level. Newly carpeted and painted, this home is ready for you to move in. Community amenities include tennis courts and a pool.

Weston Village is a complex of townhomes located off of Brookhaven Road in Wallingford, Nether Providence Township.

Weston Village Community Pool

Wallingford Real Estate - 1342 Pation Area

Patio Area

Wallingford Real Estate – August 2011

September 2, 2011 by admin

: Frequent August Visitor To My Back Yard In Wallingford

WALLINGFORD REAL ESTATE

Augusts marks the second month in a row that that sales increased over the same month of the previous year, with 18 Wallingford homes sold in August 2011 as opposed to 10 sales in August 2010. Eighteen sales was the second highest total for August recorded in the past five years, eclipsed only in August 2007 in a much different real estate climate when there were 19 sales. It is encouraging to see sales on the upswing.

Wallingford August Sales – Last 5 Years

2007 – 19 sales

2008 – 17 sales

2009 – 16 sales

2010 – 10 sales

2011 – 18 sales

August is traditionally a busy month for settlements, as buyers want to be in place prior to the start of the new school year. However it is one of the slowest months in regards to home showings and sales.

The average Days on Market was a resonable 98 days.

The percentage of sales price to last list price posted at 96.39%, which represents pricing in alignment with the market. On the other hand the average sales price continues to fall relative to last year, slipping 8% from the price level of August 2010 to $299,948.

There were 18 Wallingford homes sold during the month of August 2011.

WALLINGFORD HOMES SOLD – AUGUST 2011

Address	Bed	Bath	Price	Settled
110 Cameron Drive	4	2.5	$309,900	08/03/11
742 Pennsylvania Avenue	2	1.0	$48,000	08/05/11
604 Bowers Lane	5	2.0	$261,900	08/11/11
308 Marlyn Lane	4	2.0	$212,000	08/11/11
302 Hastings Avenue	4	2.5	$258,900	08/12/11
601 Rockbourne Mills Court	3	2.5	$360,000	08/19/11
213 Cedar Road	3	1.5	$155,000	08/22/11
321 West Rose Valley Road	4	2.5	$353,000	08/24/11
706 Blue Hill Drive	4	2.5	$380,000	08/24/11
738 Pine Ridge Road	4	3.5	$430,000	08/25/11
415 Sheffield Drive	4	2.0	$200,000	08/26/11
856A Putnam Blvd #67A	2	1.0	$118,500	08/26/11
216 Copples Lane	4	2.5	$472,500	08/26/11
398 Turner Road	3	3.5	$385,000	08/29/11
301 Colonial Drive	5	3.5	$575,000	08/31/11
406 North Providence Road	3	1.5	$320,000	08/31/11
704 Oxford Lane	3	2.5	$332,365	08/31/11
410 Trenton Court	3	2.0	$207,000	08/31/11

These 18 Wallingford homes were on the market an average of 61 days, with the average sold price representing 94.16% of the original asking price, and 96.32% of the last asking price.

For the short and long of it, 110 Cameron Drive was on the market for 3 days, while 706 Blue Hill Drive was on the market 343 days.

Conventional financing was the financing of choice in 10 transactions, 5 utilized FHA financing, and 3 were cash deals.

308 Marlyn Lane was a Bank Owned Forclosure.

A Seller Assist was utilized in 6 of the 18 Wallingford homes sold, ranging from $6,350 to $15,000.

604 Bowers Lane – $15,000

308 Marlyn Lane – $6,350

302 Hastings Avenue – $10,000

704 Oxford Lane – $9,335

1044 Putnam Blvd – $11,000

410 Trenton Court – $8,750

Wallingford August 2011 Activity vs August 2010

	*SALES*	*AVERAGE*	*DOM*	*STL TO ORIG*	*STL TO LAST*
2010	10	$326,390	61	94.16%	96.32%
2011	18	$299,948	98	92.0%	96.39%
	80.0%	– 8.0%	61.0%	-2.16%	0.07%

SWARTHMORE REAL ESTATE

: Fallen Tree On Rt 320 Near Cedar Lane After Hurricane Irene

10 Swarthmore homes sold during the month of August 2011.

SWARTHMORE HOMES SOLD – AUGUST 2011

Address	Bed	Bath	Price	Settled
226 Dickinson Avenue	6	2.0	$495,000	08/01/11
801 Yale Avenue #1028	1	1.0	$93,000	08/02/11
401 Brighton Terrace	3	2.5	$325,000	08/03/11
527 Riverview Road	6	2.5	$460,000	08/05/11
408 Strath Haven Avenue	4	2.5	$352,000	08/05/11
109 South Princeton Avenue	6	2.5	$775,000	08/08/11
218 Garrett Avenue	5	3.2	$675,000	08/10/11
103 Columbia Avenue	3	2.5	$359,000	08/23/11
201 Dickinson Avenue	4	2.0	$484,000	08/31/11
910 Strath Haven Avenue	4	2.1	$415,000	08/31/11

These 10 Swarthmore homes sold for an average price of $443,300, and were on the market an average of 70 days, fetching 93.13% of original asking price, and 95.56% of last asking price.

For the short and long, 408 Strath Haven Avenue and 109 South Princeton Avenue were on the market 7 days, and 910 Strath Haven Avenue was on the market 306 days.

9 transactions utilized conventional financing, 1 was a cash deal.

Comparing this year’s Swarthmore activity with the past 4 years:

Swarthmore August Sales – Last 5 Years

2007 – 11 sales

2008 – 8 sales

2009 – 7 sales

2010 – 10 sales

2011 – 10 sales

Swarthmore August 2011 Activity vs August 2011

	*SALES*	*AVERAGE*	*DOM*	*STL TO ORIG*	*STL TO LAST*
2010	10	$353,600	114	91.18%	94.73%
2011	10	$443,300	70	93.13%	95.56%
	0.0%	25.0%	-39.0%	1.95%	0.83%

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501 Blakeley Road – Lots Of House For $234,900

OPEN HOUSE SUNDAY OCTOBER 9 FROM 1 To 3

WALLINGFORD REAL ESTATE

WALLINGFORD HOMES SOLD – SEPTEMBER 2011

Wallingford September 2011 Activity vs September 2010

SWARTHMORE REAL ESTATE

SWARTHMORE HOMES SOLD – SEPTEMBER 2011

Swarthmore September 2011 Activity vs September 2011

1342 Putnam Blvd – Weston Village

WALLINGFORD REAL ESTATE

WALLINGFORD HOMES SOLD – AUGUST 2011

Wallingford August 2011 Activity vs August 2010

SWARTHMORE REAL ESTATE

SWARTHMORE HOMES SOLD – AUGUST 2011

Swarthmore August 2011 Activity vs August 2011

S. Clark Kendus