Seller Information

Cash Transactions On The Rise In 2011

December 28, 2011 by admin

In a year which has seen record low mortgage rates, cash transactions are becoming increasingly popular.

In 2011 38% of homes were purchased with cash. Several factors have led to the flight to cash – as mortgage rates have fallen underwriting rules have tightened, and real estate investors are seeking a better return on their investment dollar.

Data from the National Association Of Realtors reports that in 2008 cash transactions comprised only 14% of home purchases.

In some areas of the country, for example the Miami-Fort Lauderdale area, cash transactions account for more than 50% of sales, as buyers are purchasing distressed properties at rock bottom prices.

Locally in the Wallingford market, cash transactions have accounted for slightly over 19% of homes sold in 2011.

Wallingford Real Estate – Wallingford, PA 19086

Nether Providence Taxes To Increase 6.6% In 2012

December 23, 2011 by admin

Nether Providence Commissioners have voted for a 6.6% increase in Nether Providence Township taxes for 2012. The new millage rate will be set at 4.36 mills, up from 4.09 mills in 2011. For every $1,000 of assessed value residents will pay $4.36 in township taxes.

For a residence in Nether Providence Township assessed at $150,000, the tax increase will translate to a $42 increase in the local tax bill.

The township’s annual sewer rate will increase to $304 per household, the current levy is set at $289. This increase is in anticipation of higher costs that will be passed on by DELCORA, the county authority responsible for sewer waste handling.

Wallingford Real Estate – Wallingford, PA 19086

Wallingford Real Estate – November 2011

December 1, 2011 by admin

WALLINGFORD REAL ESTATE NOVEMBER 2011

November marks another month that that sales increased over the same month of the previous year, with 17 Wallingford homes sold in November 2011 as opposed to 11 sales in November 2010.

There were 17 Wallingford homes sold in November 2011.

WALLINGFORD HOMES SOLD – NOVEMBER 2011

Address	Bed	Bath	Price	Settled
708 Washington Avenue	3	1.5	$110,000	11/08/2011
205 Fox Lane	4	2.5	$425,000	11/10/2011
105 Wisteria Lane	4	4.5	$700,000	11/14/2011
103 Sharlow Drive	4	1.5	$217,000	11/14/2011
904 Twyckenham Road	4	3.5	$510,000	11/14/2011
711 Hemlock Road	5	3.5	$475,750	11/16/2011
702 Pine Ridge Road	3	2.5	$367,000	11/17/2011
103 Michaels Lane	3	1.5	$198,000	11/21/2011
112 Beech Road	3	2.0	$217,000	11/21/2011
418 East Country Club Lane	3	2.0	$250,000	11/21/2011
203 Knoll Road	4	2.5	$350,000	11/23/2011
812 Ridge Lane	3	2.5	$384,000	11/25/2011
700 Avondale Road – 7G	2	2.0	$110,000	11/28/2011
736 Hemlock Road	3	1.5	$333,000	11/29/2011
714 Pine Ridge Road	5	3.0	$439,500	11/29/2011
1070 Putnam Blvd	3	2.2	$200,000	11/30/2011
406 Turner Road	3	2.5	$260,000	11/30/2011

These 17 Wallingford homes were on the market an average of 119 days, with the average sold price representing 89.15% of the original asking price, a figure that indicates initial over pricing, and 95.08% of the last asking price.

For the short and long of it, 1070 Putnam Blvd was on the market for 1 day, while 205 Fox Lane was on the market 323 days.

Financing Methods

Conventional – 9
Cash – 5
FHA – 1
Seller – 1
Other – 1

A Seller Assist was utilized in 8 of the 17 Wallingford homes sold.

708 Washington Avenue – $1,800
105 Wisteria Lane – $7,000
103 Sharlow Drive – $8,680
702 Pine Ridge Road – $3,000
203 Knoll Road – $1,500
736 Hemlock Road – $400
714 Pine Ridge Road – $1,800
406 Turner Road – $9,900

Wallingford November 2011 Activity vs November 2010

	*SALES*	*AVERAGE*	*DOM*	*STL TO ORIG*	*STL TO LAST*
2010	11	$240,105	144	90.5%	96.08%
2011	17	$326,250	119	89.15%	95.08%
	54.5%	35.9%	-17.4%	-1.35%	-1.00%

Looking forward to December there are 11 settlements scheduled for the month.

SWARTHMORE REAL ESTATE – NOVEMBER 2011

Wallingford Real Estate - Countryside Deli On A November NIght

Countryside Deli Aglow On A Late November Night

3 Swarthmore homes sold during the month of November 2011.

SWARTHMORE HOMES SOLD – NOVEMBER 2011

Address	Bed	Bath	Price	Settled
620 Magill Road	3	3.0	$275,000	11/04/2011
303 Chestnut Avenue	3	2.0	$429,900	11/16/2011
570 Marietta Avenue	3	4.5	$297,000	11/23/2011

These 3 Swarthmore homes sold for an average price of $333,967, and were on the market an average of 77 days, fetching 95.03% of original asking price, and 97.13% of last asking price.

For the short and long, 303 Chestnut Avenue was on the market 5 days, and 570 Marietta Avenue was on the market 174 days.

All 3 transactions utilized conventional financing.

Looking ahead to projected activity for December, there are 3 settlements scheduled.

Swarthmore November 2011 Activity vs November 2011

	*SALES*	*AVERAGE*	*DOM*	*STL TO ORIG*	*STL TO LAST*
2010	2	$560,688	122	82.99%	92.62%
2011	3	$333,967	77	95.03%	97.13%
	50.0%	-40.4%	-36.9%	12.04%	4.51%

Wallingford Real Estate – Wallingford, PA 19086

National Housing Outlook Looking Slightly Brighter

November 21, 2011 by admin

For the first time in a long time, housing figures are coming in better than expected. The National Association of Home Builders’ sentiment index jumped three points this month to 20, its highest reading in over a year. Last week, the Commerce Department said building permits and construction of single-family homes rose in October. The Federal Reserve’s fourth-quarter loan survey showed a pickup in demand for mortgage loans.

Mission accomplished? Not quite. Construction is picking up but remains at historically depressed levels, and broader sales activity is still anemic. Indeed, the National Association of Realtors’ existing-home sales report, out Monday, is likely to show a second straight monthly decline in October to a seasonally adjusted annualized pace of about 4.8 million units. That would mean the sales rate has dropped by more than 10% so far this year.

Meanwhile, the foreclosure supply is ticking back up. After declining for three straight quarters, the percentage of loans on which foreclosure action has started rose in the third quarter, the Mortgage Bankers Association’s latest survey showed. This was partly due to remediation programs and the sunset of earlier foreclosure halts, the group said. The continued trickle of distressed properties is likely to keep downward pressure on home prices.

Not all foreclosures are created equal, however, and regional disparities are becoming more pronounced. In states with nonjudicial foreclosures, like California, properties are seized and resold more quickly than in judicial states like Florida, where court hearings can delay this for months, if not years. California’s market, having fallen hard and fast early on, is now starting to recover. Florida, which also fell sharply, remains among the weakest.

Bank of America Merrill Lynch economists expect the foreclosure process to speed up in nonjudicial states next year, with liquidations peaking in 2013. This is partly why they expect home prices to drop another 8% on average nationwide over the next 18 months before bottoming. This assumes a healthy pickup in sales; if customers shy away because of economic angst or tighter lending criteria, a rebound will take longer to materialize.

Still, six years after existing-home sales peaked, the market is at least edging toward a bottom. The biblical notion that seven years of famine follows seven years of feast may have something to it.

Wallingford Real Estate – Wallingford, PA 19086

2012 Delaware County Taxes Set To Increase 2.3%

November 15, 2011 by admin

The Delaware County Council has proposed a 2012 budget of 323 million dollars, representing an 8 million dollar increase over last year.

The preliminary draft of the 2012 budget includes a millage rate of 5.304, which represents a 2.3 percent tax hike. The average Delaware County taxpayer with a home assessed at $130,000 would incur a county property tax of $689 — an increase of $16 over the prior year.

The millage rate for 2012 would be set at 5.304 mills. A mill represents 1 dollar for every 1,000 dollars in assessed value.

A change in the state formula for Medicade reimbursements for county owned nursing care facilities is expected to cost the County 6.3 million dollars in 2012, and is a factor in the proposed increase.

County council has until December 13 to adopt a final budget. A public hearing will take place at 6 p.m. December 7 at the county council meeting room in the Government Center in Media.

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WALLINGFORD REAL ESTATE NOVEMBER 2011

WALLINGFORD HOMES SOLD – NOVEMBER 2011

SWARTHMORE REAL ESTATE – NOVEMBER 2011

SWARTHMORE HOMES SOLD – NOVEMBER 2011

S. Clark Kendus