Clark Kendus – Page 63

Wallingford PA Real Estate – September 16, 2019 To September 22, 2019

September 24, 2019 by admin

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

There are 46 homes listed for sale in Wallingford PA and Nether Providence Township on September 24, 2019 with an average asking price of $448,577.

Homeowners with a mortgage have seen their equity rise by 4.8% year over year. The average homeowner has gained $4,900 in home equity between the second quarter of 2018 and the second quarter of this year, according to CoreLogic’s Home Equity Report.

The states with the largest annual gains in equity during the second quarter include Idaho, where homeowners saw a gain of $22,100, on average, followed by Wyoming at $20,400, and Nevada at $16,800, CoreLogic’s report shows.

Overall, the western part of the U.S. is seeing some of the strongest equity gains, adds Frank Martell, president and CEO of CoreLogic.

View all Nether Providence Twp Homes For Sale

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Wallingford Market Snapshot – 47 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$448,577	$449,000	$115,000	$949,000	79

Single Home Market Snapshot – 38 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$510,492	$483,750	$230,000	$949,000	86

Townhouse Market Snapshot – 3 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$281,600	$279,900	$214,900	$350,000	79

Condo Market Snapshot – 4 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$126,425	$134,900	$119,900	$134,900	33

Twin Market Snapshot – 2 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$164,950	$164,950	$115,000	$214,900	40

*DOM = Days On Market

2 Wallingford PA homes went under contract

4 new listings came onto the market

No listings were withdrawn from the market

No listings expired

33 homes are Under Contract at this time

1 Wallingford PA home sold last week

Wallingford Homes Sold September 16, 2019 To September 22, 2019
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
614 W Wiltshire Drive	TWIN	3	2.1	$222,000	09/16/19	3
AVERAGE				$222,000		3

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – September 9, 2018 To September 15, 2019

September 17, 2019 by admin

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

There are 46 homes listed for sale in Wallingford PA and Nether Providence Township on September 17, 2019 with an average asking price of $449,946.

According to the National Association of Home Builders, lack of affordable is causing buyers to delay purchasing a home. Half of buyers in a recent survey, who have been looking for a home for a minimum of three months, said they haven’t bought a home yet because they can’t find a home they are able to afford, an increase of 5% year-to-year. Meanwhile 43% said they can’t find a home in the neighborhood they want to live in. Only 40% cited the actual homes on the market instead, saying that they have yet to find a house that has all of the features they want.

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Wallingford Market Snapshot – 46 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$449,946	$439,450	$115,000	$949,000	81

Single Home Market Snapshot – 38 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$502,468	$482,000	$230,000	$949,000	86

Townhouse Market Snapshot – 3 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$281,600	$279,900	$214,900	$350,000	75

Condo Market Snapshot – 3 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$126,567	$129,900	$119,900	$129,900	36

Twin Market Snapshot – 2 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$164,950	$164,950	$115,000	$214,900	37

*DOM = Days On Market

4 Wallingford PA homes went under contract

5 new listings came onto the market

No listings were withdrawn from the market

No listings expired

29 homes are Under Contract at this time

3 Wallingford PA home sold last week

Wallingford Homes Sold September 9, 2019 To September 15, 2019
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
508 Bickmore Drive	SNG	4	2.2	$420,000	09/09/19	3
813 Ridge Lane	SNG	3	2.1	$320,000	09/13/19	50
227 Rodgers Lane	SNG	4	2.1	$479,382	09/09/19	81
AVERAGE				$406,461		45

227 Rodgers Lane sold with a $14,381 Seller Assist

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – August 2019

August 30, 2019 by admin

Strath Haven Band At Practice

August 2019 saw the effect of limited inventory with the number of closed transactions of 13 representing a 50% decrease year over year. However there was good news with respect to the average selling price which saw an increase of 16.0%, rising to $413,154 . August’s 13 sales consisted of 9 single family homes, 3 condos, and 1 townhome.

Nine single family homes sold for an average price of $538,889 and averaged 77 days on the market. Last August saw the sale of 19 single family homes that sold for an average price of $424,832 and were on the market an average of 48 days.

506 Moylan Road had the highest selling price for the month at $830,000.

Seventeen listings went under contract during the month – 7 single family homes, 6 twins, 2 condos, and 2 townhouses with an average asking price of $283,488 and were on the market an average of 33 days.

There are are 16 settlements scheduled – 11 in September, 4 in October, and 1 in January 2020.

Wallingford Homes Sold August 2019
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
506 Moylan Avenue	SNG	4	3.1	$830,000	08/05/19	40
358B Saybrook Lane	CONDO	2	1.0	$111,500	08/08/19	2
8 Brye Lane	SNG	4	2.1	$550,500	08/09/19	18
404 Hidden Valley Lane	SNG	5	3.2	$625,000	08/09/19	136
800 Avondale Road #6F	CONDO	1	1.0	$94,500	08/12/19	31
925 Winding Lane	SNG	4	3.0	$639,000	08/13/19	62
361 Saybrook Lane	TOWN	2	2.1	$210,000	08/15/19	5
114 Mulberry Lane	SNG	5	3.1	$815,000	08/15/19	97
605 E Media Parkway	SNG	4	2.0	$153,000	08/19/19	93
300 Melanies Lane	SNG	4	4.1	$565,000	08/23/19	139
102 Westminster Drive	SNG	4	2.1	$380,000	08/26/19	37
22 Medbury Lane	SNG	3	1.0	$292,500	08/28/19	72
800 Avondale Road #3I	CONDO	1	1.0	$105,000	08/28/19	72
AVERAGE

* DOM = Days On Market

7 of 13 transactions had a Seller Assist:

– 506 Moylan Avenue – $1,500

– 404 Hidden Valley Road – $37,500

– 114 Mulberry Lane – $3,500

– 605 E Media Parkway – $4,590

– 300 Melanies Way – $13,000

– 22 Medbury Lane – $5,000

– 800 Avondale Road #3I – $500

Financing Methods

– Conventional Mortgage – 9 transactions

– Cash – 3 transactions

– FHA – 1 transaction

No distressed sales were reported for the month:

**WALLINGFORD SINGLE HOMES – AUGUST 2019 – 9 SALES**
Avg Price	Median Price	Low	High	DOM*
$538,889	$565,000	$153,000	$830,000	77

**WALLINGFORD TOWNHOMES – AUGUST 2019 – 1 SALE**
Avg Price	Median Price	Low	High	DOM*
$210,000	$210,000	$210,000	$210,000	5

**WALLINGFORD CONDOS – AUGUST 2019 – 3 SALES**
Avg Price	Median Price	Low	High	DOM*
$103,667	$105,000	$94,500	$111,500	35

**WALLINGFORD – AUGUST 2018 VS AUGUST 2019**
	SALES	AVERAGE	DOM*	% ORIG LIST	% LAST LIST
2018	26	$356,108	40	95.7%	99.4%
2019	13	$413,154	62	93.2%	96.5%
	-50.0%	16.0%	55.0%	-2.5%	-2.9%

Wallingford PA Real Estate – Wallingford, PA 19086

Wallingford PA Real Estate – August 19, 2019 To August 25, 2019

August 27, 2019 by admin

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

There are 50 homes listed for sale in Wallingford PA and Nether Providence Township on August 27, 2019 with an average asking price of $415,444.

Existing-home sales showed improvement in July, a welcome sign for what has been a mostly sluggish summer real estate market. Reversing course last month, sales climbed 2.5% over June, the National Association of REALTORS® reported Wednesday. The Northeast was the only major region of the U.S. to see sales decline in July. The bulk of sales growth was attributed to the West.

Key metrics from NAR’s July housing report

Home prices: The median existing-home price for all housing types in July was $280,800, up 4.3% from a year ago ($269,300).
Housing inventories: Total housing inventory at the end of July decreased to 1.89 million, a 1.6% drop from 1.92 million one year ago. Unsold inventory is at a 4.2-month supply at the current sales pace.
Days on the market: 51% of homes sold in July were on the market for less than a month. On average, properties stayed on the market for 29 days in July, up from 27 days a year ago.
All-cash transactions: All-cash sales accounted for 19% of transactions in July, down from 20% a year ago. Individual investors and second-home buyers make up the bulk of cash sales. They purchased 11% of homes in July, down from 12% a year ago.
Distressed sales: Foreclosures and short sales continue to shrink, comprising 2% of sales in July and down from 3% a year ago. Less than 1% of sales from a year ago were short sales

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Wallingford Market Snapshot – 50 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$415,444	$362,450	$104,000	$959,000	87

Single Home Market Snapshot – 37 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$489,784	$449,900	$230,000	$959,000	96

Townhouse Market Snapshot – 5 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$267,600	$285,000	$179,000	$350,000	75

Condo Market Snapshot – 4 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$124,325	$123,700	$104,000	$145,900	85

Twin Market Snapshot – 4 Listings
AVERAGE	MEDIAN	LOW	HIGH	DOM*
$203,725	$224,950	$115,000	$250,000	18

*DOM = Days On Market

3 Wallingford PA homes went under contract

2 new listings came onto the market

1 listing was withdrawn from the market

No listings expired

26 homes are Under Contract at this time

1 Wallingford PA home sold last week

Wallingford Homes Sold August 19, 2019 To August 25, 2019
ADDRESS	TYPE	BED	BATH	PRICE	SETTLED	DOM*
605 E Media Parkway	SNG	4	2.0	$153,000	08/19/19	93
AVERAGE				$153,000		93

605 E Media Parkway sold with a $4,590 Seller Assist

Wallingford PA Real Estate – Wallingford, PA 19086

What Is Title Insurance?

August 26, 2019 by admin

One of the large numbers you see on your ALTA closing statement sheet at the closing table is title insurance. Many people ask just what is title insurance and why do I have to have it?

Title insurance is an insurance policy that protects the insured against financial loss rising through defects in the title to real property. Before a home is purchased it most likely has gone through several ownership changes, and the land on which it is built went through many more. At any point in that ownership chain there may have been a situation that occurred which can cause a title issue. For example, an owner may have forged a signature in the transfer of title, or there may be unpaid tax or mechanic liens against the property. Title insurance covers the insured party for economic loss that is the result of such title issues, which are known as title “defects”. When the title for a property has been verified as insurable, the title company will guarantee against loss due to any title defects, and pay expenses incurred in defense of any lawsuit which challenges the title.

The premium for title insurance is paid once at the time of closing, and is based upon the purchase price of the property. The insurance protects the insured for as long as they or their heirs maintain an interest in the property. Coverage protects against losses that arose prior to the issuance date of the policy, and ends on the day the policy is issued and extends backwards in time for an indefinite period of time. This is a marked departure from most insurance policies, which protect the insured against future events that occur after the policy is issued.

Insurance is mandatory and required by the lender when purchasing a home that involves a mortgage. The purchase of title insurance is not required when purchasing a property with cash, but it is strongly recommended that the buyer do so.

Title insurance rates are set by the Pennsylvania Insurance Commission, and all policy pricing is uniform across the state. For example, a Wallingford home that is being purchased for the average 2d Quarter 2019 quarter price of $358,286, the price of a standard title insurance policy would be $2,501.30

Wallingford PA Real Estate – Wallingford, PA 19086

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S. Clark Kendus