Chester County H1N1 Clinics Comments Off
The Chester County Health Department is scheduling clinics for the H1N1 flu vaccine the week of Dec. 16. Clinics are also being scheduled for January. To schedule an appointment, call 610-344-5353. Appointments are being made for 9 a.m. to 4 p.m. Monday through Friday. Anyone age 13 or older is eligible for the vaccine.
You must print out the consent form on the Health Department’s Web site and bring it with you to the clinic.
All clinics will be held at the Government Services Center, 601 Westtown Road, West Chester.
Chester County Real Estate News – Week of December 5th Comments Off
Tax hike looming in Chester County budget
Taxpayers could see their Chester County property tax bills increase slightly again next year if the commissioners’ proposed 2010 budget is adopted as is. But the three commissioners have vowed to seek further reductions in administrative expenditures to make whatever tax increase less than what is currently foreseen. The combined impact of the downturn in the national economy, a drying up of state and federal revenue, and a stagnant county real estate market has resulted in a proposed property tax rate at the county level of 4.118 mills, an increase of 3.8 percent over the 2009 rate of 3.965. To a homeowner with property valued at a median assessment of $166,495, the proposed increased county property tax rate would mean a tax bill of $25.48 over 2009′s levy. The increase comes despite a continuing effort by the county to cut costs in every department. In fact, the county’s proposed budget will be $427.7 million, a decrease from the $476.6 million that county officials estimate they will spend this year. The commissioners have set Dec. 17 as the date to adopt the budget. The county’s budget can be viewed at www.chesco.org.
Source: Daily Local; 12/02/09
Coatesville presents ideas for Urban Center Revitalization Plan Update
The City of Coatesville presented ideas for its Urban Center Revitalization Plan Update. The original plan was adopted in 1999 and updated in 2002 as an addendum to the City’s Comprehensive Plan. The update will focus on the following objectives: economic development, housing, infrastructure and transportation, public safety, urban open space, streetscapes and cultural projects. The updated plan will include an action plan with a number of specific recommended projects for the future revitalization of the urban community.
Lower Oxford says sewer hookup is mandatory
Homeowners in Lincoln Village will have to connect to a new sewer line. The Lower Oxford Board of Supervisors approved a mandatory sewer connection ordinance that requires everyone with a sewer line in front of their property to make the connection. The homeowners will be given a year to make the connection on their own. A fee of $2,100 will be due two years after a connection is made. If the property owner does not make the connection within a year, the township can come onto the property and do the work. At that point, the owner becomes responsible to pay for the $2,100 connection fee and the township’s cost to do the work. If the payment is not made within six months, the township can lien the property for their costs and connection fee. Currently, homeowners in Lincoln Village have been sent a survey to determine if it is a low income area and eligible for grant money from the state to offset some of the costs.
Source: Avon Grove Sun; 11/26/09
Chester County farm preserved
The Brandywine Conservancy yesterday acquired a conservation easement on the 117-acre Redcay farm in Londonderry Township, Chester County. Preserving the farm has been a priority of the township since voters approved an open space referendum in 2003. With this easement acquisition, approximately 3,770 acres are now preserved in Londonderry Township, representing about 52% of its total acreage. In addition to preventing development and preserving significant views, the Redcay easement contains restrictions to ensure that continued farming does not adversely impact a tributary of the Brandywine River.
Source: Chester County Press; 11/25/09
Sewage expansion causes concerns in South Coatesville
Pennsylvania American Water Co., which operates a large wastewater treatment facility in South Coatesville, plans to expand the plant to treat up to 12 million gallons of wastewater a day. This would effectively quadruple the amount of treated effluent discharged into the west branch of Brandywine Creek. For the past year, the Brandywine Conservancy has been working behind the scenes to influence a process that has widespread implications for water quality and the threat of more suburban sprawl in western Chester County. The Conservancy met with the state Department of Environmental Protection over the last year, making presentations about smart growth and advocating for community wastewater systems and against large, centralized wastewater treatment facilities.
Source: Daily Times; 11/30/09
West Grove abolishes planning commission
West Grove Borough voted to abolish their planning commission. The planning commission was a subcommittee of borough council that reviewed plans for subdivision and land development. Borough officials said the lack of real estate parcels that can be developed in the future was the most important factor in making the decision. The group has had very little activity and it has become difficult to recruit and hold members. The borough council will review any future plans, as will the zoning officer and engineer.
Coatesville codes officer arrested for allegedly selling cocaine
A man who works as a codes enforcement officer with the city was recently arrested for allegedly selling cocaine, according to police. Police charged John Clayton Tinson, 51, of Coatesville, with possession of a controlled substance, possession of drug paraphernalia, manufacture of a controlled substance, criminal use of a communication facility and conspiracy following a lengthy investigation that took place during the summer. Tinson was initially hired by the city in October 1994 and held a position in the Public Works department. Tinson’s employment was terminated in July 2005, but he was reinstated as a full-time code enforcement officer last June.
Source: Daily Local; 12/03/09
Chester County Real Estate Statistics – November 2009 1
Market Summary Report:
Area
# Of Sales
% Change
Year$ Volume
% Change
YearAverage SOLD Price
% Change
YearDOM
% Change
Year
Downingtown
77
+83%
$25 Million
+66%
$325,933
-9%
88
+7%
West Chester
116
+84%
$39.8 Million
+85%
$340,937
+1.5%
64
-12.2%
Great Valley
33
+65%
$12.5 Million
+40%
$380,718
-15%
73
-23%
Coatesville
81
+88.3%
$17.2 Million
+90%
$213,242
+2.4%
78
+4%
Octorara
10
+100%
$2.2 Million
+214%
$224,738
+46%
91
-58.7%
Chester County
527
+76%
$165.5 Million
+61.9%
$314,143
-8%
80
-5.9%
Chris’s Assessment:
The Tax Credit Factor: Bottom line – the tax credit “worked”. When you look at October and November numbers, it is very clear that many buyers were draw to taking action in Chester County because of the Home Buyer Tax Credit. This is apparent when looking at several factors. First is percentage increase in sold activity over the same time last year. On average, Chester County saw an increase of 76% in the number of homes that sold. It is also apparent when you look at what the number of homes that are actively for sale. It dropped inventory levels down to below 2006 levels. If that trend can be sustained, which I have my doubts about, that will be a positive sign.
Another sign for the Tax Credit Factor is the fact that the average sold price has taken a nose dive. PLEASE DO NOT mistake this figure for average home value in Chester County. This figure is just telling us where the average SALE price is. And the fact that it has headed south so drastically in the last 3 months is because a majority of the activity has been in the First Time Home Buyer price range. In Chester County, I consider that any home under the $300,000 mark. In that case 62% of the activity in the last 3 months has been in the category. So, in the end, if congress and the lobbyists wanted to stimulate market activity with the Tax Credit, they achieved their goal.
Unfortunately, I see some negative side effects to this “Tax Credit Factor” here in Chester County. First, it has created an artificial market. What I mean by that is that you have buyers in the market that wouldn’t otherwise be there, thus creating an artificial environment that causes prices to either to be sustained or go up. I have had many clients this year that multiple offers on a home they wanted to buy. This causes them to have to buy the home at a higher price than they would have otherwise. That isn’t bad in and of itself, if the prices were going back up. But this market is artificial and not sustainable. The government cannot offer the tax incentive forever and when it ends (April 30th, 2010 for now) and if the overall economy has not turned a corner to help keep prices from going further south, those home owners may face some difficulty when they go to sell in 3 – 5 years.
Of course this is conjecture on my part, but it is a big concern. No one has a crystal ball and there is no way to tell exactly what the market will do. But, if this level of activity could be sustained, it would be a very positive sign. I don’t believe it is and when I do the first report of the new year, I believe the numbers will fall back in line with the trends from the first half of the year, with the activity continuing to slow, but prices may come back up.
My best advice: If you are a seller, as I have been saying, unless you MUST SELL, don’t put your home on the market. And if you MUST SELL, make sure you get an agent or team that is selling in this market. The longer your home sits on the market, the worse it is for the wear, and the market has dropped while you waited. If you are a qualified, ready buyer this market still remains one of the best times in history to buy a home. As I write this, the interest rate for a 30 year conventional loan is around 4.75% which is historically low. You also have a tax incentive for first time home buyers and move up buyers.
If you are going to be buying or selling a home, and want the best real estate agent(s) possible, please contact me and my team would be honored to help you with your real estate needs.
Close Sales (Demand):
- The Demand has been way up due to the Tax Credit. The highest it’s been in 5 years
- It is doubtful this trend will or could continue. I expect December numbers to follow the trend of the first half of the year, with activity at or close to a 5 year low.
Active Listings (Supply):
- Supply is now at a seasonal 4 year low. This is a good statistic.
- Over the next year, this figure could possibly inch back up, but the extension and expansion of the tax credit could help keep inventory down.
Average Sold Price:
- It is important to keep in mind that this figure is NOT home values, but sales price
- 62% of the activity from September to November has been in the First Time Home buyer price range, of under $300k
- This is what has driven the average sales price down so drastically.
If you are going to be buying or selling a home, and want the best real estate agent(s) possible, please contact me and my team would be honored to help you with your real estate needs.
This Month in Real Estate – November 2009 Comments Off
- Interest rates are a full point below what they were this time last year
- With interest rates being unpredictable, sellers need to do all they can to capture buyer’s attention
- What are the benefits to hiring a professional stager?
- How many minutes do you have to sell the house to a buyer?
- What colors can atttact buyers?
Chester county real estate news – week of November 27 Comments Off
Cost of living to rise in Kennett Square if council approves new budget
It will cost anywhere from $500 to $1,200 more to live in Kennett Square next year, if the proposed budget is adopted next month. The bottom line: Taxes will go up one mill (or amount of tax per thousand dollars of property value); water costs for residents will increase an average of $60 per year; sewer costs will increase an average of $65 per year; and it will now cost residents $220 annually to dispose of their trash. Trash disposal had been free. The proposed $4.6 million budget would keep services at about the same level. Wages of non-uniformed employees will be frozen in 2010, and all capital outlay in the general fund has been removed except for one new police car. The borough is exploring the possibility of selling its water system to Aqua or the Chester Water Authority. The residential rates for water could go up if Aqua took over the water system, and down if Chester Water Authority took it over, but the borough would receive a windfall that could be applied to the general fund. The budget will be reviewed at the Dec. 7 meeting.
Source: Chester County Press; 11/18/09
West Chester Council approves preliminary budget
West Chester Borough Council passed a preliminary 2010 budget that calls for a 3.4 percent real estate tax increase. The budget also calls for a 10 percent increase in the borough’s sewer rate. Various Council committees will review the preliminary budget in December, and full council will pass a final budget by the end of the year. It appears that the tax hike, which will result in a $23 increase on average residential tax bills, is a near certainty. The economic crisis has strained the borough’s finances and made a tax increase hard to avoid, borough officials said. West Chester, like most Chester County municipalities, is facing rising pension, salary and employee benefit costs. At the same time, the recession has caused the borough’s earned income tax and real estate transfer tax revenues to decline. The preliminary budget would increase the average borough homeowner’s tax bill to $689, approximately $23 over last year’s average. The average single-family home in the borough has an assessed value of $119,000, and the average tax increase was calculated using this figure.
Source: Daily Local; 11/19/09
No new taxes needed to meet W. Nottingham’s 2010 budget
No new taxes are needed for 2010 to meet West Nottingham Township’s proposed budget, approved at its Nov 17 meeting. The new budget totals $574,550, with the largest areas of expenses being $152,450 for road work and road crew salaries, and $64,200 for police department salaries and equipment. The budget is open for public review, with final approval set for December.
Source: Daily Local; 11/21/09
West Chester Borough allows subdivision of courthouse complex
West Chester Borough Council cleared the way for Chester County to sell a large portion of the historic courthouse complex by voting unanimously to subdivide the complex into two parcels. The first parcel contains the 19th-century courthouse, the fountain behind it, and the Market Street annex to its west. The second parcel contains the annex on North High Street, the annex on North Church Street, and several buildings along the unit block of West Gay Street. It is the second parcel that the county will put on the market. Attorney Don Turner, who represents the county, said that selling this parcel will allow the county to continue to preserve the historic courthouse.
Source: Daily Local; 11/22/09
Easttown real estate taxes may increase 12.1 percent
Easttown Township’s Board of Supervisors voted for a preliminary 2010 budget Monday that calls for a real estate tax increase of 12.1 percent. The average assessed property value in Easttown Township is $330,000. In 2009 an owner of a property with that assessed value would have paid $1,109 in real estate taxes to the township. In 2010, if the preliminary version of the budget is approved, that owner would pay about $1,240. The Board of Supervisors will approve the final 2010 budget at its Dec. 21 meeting. If the budget is approved as proposed, the township’s millage rate would increase from the current 3.361 to 3.769 per thousand dollars of assessed value.
Source: Daily Local; 11/22/09
No new taxes in Kennett Township budget
While presenting the township’s preliminary 2010 budget, Kennett Township Supervisors’ Chairman Robert Hammaker noted no new taxes are being proposed. “The only major change in revenues we expect in 2010 is a decrease in real estate taxes due to the decline in real estate values in general,” he said.
Happy Thanksgiving Chester County! Comments Off
At this time of year my thoughts turn gratefully to those who have made my success in real estate possible.
Whether you are buying or selling, I appreciate the opportunity to be of service.
Have a Blessed Thanksgiving!
Chester County Real Estate News at a Glance: Week of November 20th Comments Off
Merchants plan for future of Kennett Square
Kennett Square merchants have banded together to form the Kennett Area Restaurant and Merchant Association (KARMA), a member-supported association dedicated to promoting business and tourism in the borough. Their goal is to mold Kennett Square’s already quaint downtown district into an even quainter village, similar to New Hope in Bucks County. New Hope is famous for its antique shops and draws visitors from across the country. The concept is new, and the group is in its infancy. A board of directors is being formed, and 15 to 20 businesses have joined. The group meets the first Tuesday of every month and is looking for Kennett Square other merchants to join. The next meeting is at 7 p.m., Dec. 2 at the Brick Garage.
Source: Daily Local; 11/14/09
Tredyffrin expects budget cuts but no tax hike
Tredyffrin Township’s proposed 2010 budget is balanced without a tax increase in sight. Township Manager Mimi Gleason presented the budget Monday at a supervisors meeting. The proposed spending plan includes a balanced general fund, the largest of Tredyffrin’s four funds. In total the proposed budget for 2010 is $32.6 million, which is $2.9 million less than 2009. The budget is to be discussed again at a public meeting at 7:30 p.m., Monday, Nov. 30, at the township building. For more information on Tredyffrin Township’s proposed 2010 budget, visit www.tredyffrin.org.
Source: Daily Local; 11/16/09
Easttown budget plan omits earned-income tax
Easttown Township’s administration plans to close a 2010 budget gap estimated at half a million dollars through a six percent real estate tax increase. The plan does not include an earned-income tax. The municipality is considering a budget that would, in addition to the tax increase, enact one or more of a host of other flat-rate taxes for residents, businesses, employees and visitors to some events. If the plan is approved by township supervisors, the newly implemented taxes are estimated to net the township about $285,000 in the first year, although newly taxes typically do not get a 100 percent collection rate in the first few years. Officials estimate that an earned-income tax would have brought in more than $1 million next year, but many residents opposed the levy. The final 2010 budget is to be adopted at the board’s Dec. 21 meeting.
Source: Daily Local; 11/16/09
Board seeking replacement for ousted West Vincent supervisor
During a rare Monday morning work session, West Vincent Township’s two remaining supervisors outlined their strategy for replacing a colleague removed from office last week by court order. Supervisors Kenneth Miller Jr. and Zoe Perkins have 30 days to find a suitable replacement. They announced Monday that they will be looking for letters, phone calls or e-mails from interested candidates. The decision must be rendered by Dec. 8 to adhere to the state’s 30-day deadline. The chosen replacement would sit on the board until 2011, when that seat would come up for a special election. The special election would determine the supervisor until 2013, when the position’s term was scheduled to end. The seat would then be back on its regular six-year cycle.
Source: Daily Local; 11/17/09
Residents applaud decision to hike West Pikeland taxes
West Pikeland Township supervisors were not only applauded by residents for their approval of a motion to increase the township’s property taxes at their last meeting, they were also encouraged to raise them even higher. The board approved a tax increase from 0.125 mills to 0.2 mills. Residents currently pay between $30 and $40 annually in township property taxes. This increase will bring the average up to between $50 and $60.The other major sources of revenue for the township are earned income taxes and real estate transfer taxes. Revenue from those sources have been decreasing over the last few years. The proposed 2010 budget was balanced before the tax increase and even accounted for a greater surplus than the township will see in 2009. The 2009 surplus will amount to approximately $16,000, while the budgeted surplus for 2010 is approximately $77,000.
Source: Daily Local; 11/17/09
5 Ways for Chester County Home Owners to Save Money, Minimize Maintenance Comments Off
1. Optimize your water heater.
Save more than $30 per year in excess heat loss and up to 10% in water heating costs with an insulated water heater jacket, available at Lowe’s for around $20. You can also start saving by simply turning the temperature down on your water heater. SOURCE: Money Magazine – January 2006
2. Replace a bath faucet.
Replacing a bath faucet yourself with a WaterSense®-certified model can save you up to $300 on the install, and up to 500 gallons of water a year. SOURCE: EPA – WaterSense, Money Magazine – August 2008
3. Buy your own repair materials.
Even if you can’t do your own repairs, buying your own parts and materials can save you up to 20% in markup fees. SOURCE: Money Magazine – August 2006
4. Routinely do a walking inspection.
Prevent expensive repairs by catching small problems before they turn into big issues. Look for holes, cracks, sags, soft spots and bulges in walls, check your plumbing and appliance hoses for leaks and inspect your home’s foundation for cracks that can be sealed. Taking the time to regularly monitor the state of your home will protect your investment in the long run and save time, money and peace of mind. If your appliance hose is leaking, purchase a new one at Lowe’s for just $20. SOURCE: Money Magazine – January 2006, August 2006
5. Take on “enhancement” projects.
Projects under $1,000 that you can do yourself to add value and get attention include: tile the entryway floor, paint the kitchen cabinets, install a clear glass shower door, update the dining-room light fixture, and install shelves in the living room. Purchase the necessary materials at Lowe’s starting at $50 and start adding value to your home. SOURCE: Money Magazine – February 2007
Cost-effective tips to sell a home in Chester County Comments Off
RISMEDIA, February 5, 2009-In today’s real estate market, sellers need additional advice on how to cost-effectively prepare their homes in order to sell quickly. With an abundance of homes on the market, waiting several months to sell a home could leave many recession-plagued sellers in financial distress.
For example, in October 2008, the median existing-home price was the lowest since March 2004 at $183,200. This means that a homeowner who lived in his or her home for four-and-a-half years is seeing the value of the home as the same or less than when the home was bought (CNNMoney.com, November 2008).
The good news is that although some homes may need extensive upgrades or renovations, many may only require simple changes. For a limited cost, or no cost at all, home sellers can fix their homes to appear more appealing to prospective buyers.
Here are some quick and inexpensive fixes to sell a home more quickly:
Focus on outdoor aesthetics. Cut back overgrown shrubs and plants. Hose down a dusty, dirty house. Sweep the driveway, sidewalk and any stairs.
Cost: $0
Eliminate odors. Before showing the house, open windows to let fresh air in; use air fresheners or baking soda to rid odors; sprinkle baking soda on the carpet and leave it for at least 10 minutes to make carpets smell clean.
Cost: approximately $15
Wash windows. Purchase a window-cleaning product to avoid professional costs. Clean windows make a home look well-kept and outdoor views more crisp.
Cost: approximately $25
In addition, consider scheduling a prelisting home inspection, an inspection conducted prior to putting the home on the market. These early inspections aid homeowners in identifying problem areas that can be easily repaired. For example, existing electrical, heating, or plumbing systems may need to be upgraded, or mold growth in a basement may require professional advice on how to eliminate dampness.
The home inspector can also suggest additional work to be done and what could be postponed. And, remember, a home inspector is an objective, third-party consultant who does not stand to profit from work suggested. A good assessment of the current state of a home and its systems will allow for more accurate planning and estimating as homeowners prepare a home to sell.
Dan Steward is president of Pillar To Post.
For more information, visit www.pillartopost.com.
