Keller Williams is #2! Comments Off
Who says the real estate market is bad? Keller Williams in the Greater PA region is doing very well. Check out these recent stats:
- KW Market share is up 7.5% of market share of closed units – the most ever
- Share of KW listings taken: 8%, this is an all time high, up 1.5% in the last year.
- KW is now #2 in PA counties in Units, volume and listings for the 13 Trend counties combined.
- KW is #2 all the way around in Chester County
We are growing, even in a down market, and we are one of a very few who are. I have to say that one of the reasons is because of all the training that we offer and the open culture we have.
If you are interested in a career in real estate in the Chester county area, or would like to find out how Keller Williams can help your already existing real estate career, just contact me!
Would you like $8000 back on your taxes this year? Comments Off
We’ve been hearing a lot of questions about the new tax credit. Who qualifies? How does it work? How long will it last? In this special edition video, we’re taking an in-depth look at the $8,000 tax credit for first time home buyers.
According to the new legislation, a first time home buyer is defined as someone who has not owned a principle residence in the past three years. Those three years are counted up to the date you take possession of the house you buy in 2009. This means that even if you’ve owned a home in the past, you can still take advantage of the tax credit as long as you haven’t purchased a primary residence since 2006.The same goes for married tax payers – they must both be first time home buyers. For non-married joint buyers, only one of them needs to be a first time home buyer, or someone who hasn’t owned a primary residence in the past three years.Qualifying homes include:
- New homes
- Homes that are being re-sold
- Condos
- Townhomes
The main restriction is that the credit is only for those who buy a home as their primary residence. So investors looking to buy a rental property would not qualify for the credit. However owning a vacation home or a rental property already does not neccessarily disqualify you from taking advantage of the credit (as long as you haven’t owned a primary residence in the past three years).A Look at the NumbersThe tax credit is equal to 10% of the purchase price of the home, up to $8,000. The amount of the credit you can qualify for is related to how much money you earn. Here’s how the credit is scaled:
- Single home buyers earning 95K or less qualify. If you make 75K or less, you qualify for 100% of the $8000. If you make halfway, 85K, you qualify for 50% or $4000. The credit phases out gradually between 75K and 95K of income. For example, if you make halfway between the income limits, 85K, you qualify for up to half of the credit.
- The same rate applies for married couples and joint buyers whose incomes limits are doubled to $150,000 to $170,000. Married couples or joint buyers whose incomes are less would receive the full $8000 credit. At an income level of $160,000, halfway between 150 and 170, the buyers would receive half the credit – or $4,000. And the credit phases out altogether at $170,000.
This credit represent a significant amount of money. One of the biggest points of difference for the new credit from the one congress passed in July of 2008, is that the new credit does not have to be paid back.it’s refundable, which means that if you’ve paid all your taxes as you go with an automatic payroll deduction, you would receive an $8,000 check from the IRS.If you’re committed to buying a house in 2009 and want to use the $8000 tax credit for a downpayment, consult with your certified public accountant.In SummaryQualifying home buyers will need to make their home purchase between January 1, 2009 and December 1, 2009. And the home has to remain their principal residence for the following three years. The new tax credit coupled with historically low mortgage rates and rising affordability, offers buyers a great opportunity if they act fast.If you’re interested in learning more about the new tax credit or about homes in your area, speak with a local real estate agent soon.
Downingtown High School Band Marches in Indianapolis 500 parade Comments Off
I recently found out that the Downingtown High School Marching band played and marched in the Memorial Day parade for the Indianapolis 500. What a priviledge!
The 2009 IPL 500 Festival Parade was on May 23. The Parade is a 52-year tradition that attracts more than 300,000 spectators to the two-mile route. During this celebration spectators will have the chance to catch a glimpse of the 33 starting drivers of the 2009 Indianapolis 500®, nationally-known celebrities including Grand Marshal Dick Vitale, more than 80 specialty units, spectacular floats, marching bands and entertainment groups, giant inflatable balloons and costumed characters.
When I attended Downingtown High School, I was very involved in music and arts. I sang in many of the choirs, was involved in the orchestra in elementary school and even participated in the musicals Oklahoma and West Side Story. I remember getting to perform in a sorts of places with the Downingtown choir and what a memorable experience. Plus it taught me how to work hard and what that brings.
So, congrats to the Downingtown High School marching band! I hope you enjoyed it!
what IS twitter? Comments Off
One of the current fads getting a lot of news these days is Twitter. I recently went to a small real estate conference that had more than a few sessions on social networking and specifically twitter. It gave me a ton of info. If you don’t know anything about Twitter and would like to, below is a short video that explains it all. In addition, you can look me up and “follow me” on twitter if you would like, just go to http://www.twitter.com/chris_lagarde and follow me there.
The part I find fascinating is that you can actually look up people that are geographically near by you and find people in your area that have similar interests. It’s like one big public instant message. So if I want to find people in the 19335 downingtown area that like playing music or have some other specific interest, I can do searchs for those keywords. Or, by using a site like http://chirpcity.com you can do a search for specific cities like Downingtown or 19335 and view tweets by those who are geographically in Downingtown or those who are “tweeting” about dowingtown.
Have fun!
Garage Sales in Chester County area Comments Off
‘Tis the season for garage sales. My wife and I love them as you can usually find some really great deals, especially as parents of young kids.
Here are a couple that I found coming up soon:
Weekend of May 30th:
MADISON WAY~Downingtown 19335-ACROSS FROM WEGMAN’S -RTE.30
FABULOUS BACKYARD SALE West Chester BORO, 19380 (529 N DARLINGTON ST COME TO BACK ALLEY)
Multi-family yard sale, Exton 19341
West Chester Boro 19380 Yard Sale
1301 Grove Road Garage Sale, west Chester 19380
Moving Sale (1230 Street Rd, Chester Springs, 19425)
212 Woodward Dr, Exton 19341 Garage Sale
June 6th -
Multi-family MOTHER OF ALL GARAGE SALES (Thorndale/Downingtown, 19335)
First Quarter Market Statistics by Zip Code Comments Off
Download First Quarter 2009 Chester County Real Estate Market Statistics
Again, I love stats and numbers. This sheet illustrates just HOW local real estate really is. Each zip code in this report is uniquely different than the one before it.
Here are some interesting stats from the report:
- Biggest drop in sales price: Cochranville, 19330 – 50%
- Biggest rise in sales price: Glenmore, 19343 – 24%
- Most sold in quarter: Coatesville at 89 homes
- Least Sold in quarter: Tie – Newtown square and Wagontown at 1
- Most days on market: Honey brook at 166
- Least Days on market: Wagontown at 26
Smart Home Owners Team up with the Best Comments Off
From David Bach – “Here’s the truth, homebuyers. The housing market has so much inventory right now and there are so many variables that you need a real estate professional now more than ever. Finding the very best home and negotiating the very best deal is like finding a needle in a haystack. “
Absorption Rate of Real Estate in Chester County 1
Here is a quick look at the price ranges, by increments of $50,000, and how many months of inventory exists for each one. While looking at this, please keep in mind that the rule of thumb in real estate is that when you have 6 months or less worth of inventory, you have a “Centrist” market, meaning the market is balanced. Anything less is a Sellers market, anything more is a Buyers.
When examining this chart, it becomes clear that homes that are selling for under $251,000 are actually in a slight Buyers market. Even homes under $350,000 are in more of a “Centrist” market. The reason for this is that a majority of homes under $300,000 are bought by first time home buyers. At the moment, a majority of the buyers in the market fit that category, not to mention the crazy low interest rates and the $8000 tax credit.
This is the type of information buyers need to understand that they cannot throw an offer at a seller that is more than 10% or more off the asking with out offending them and getting laughed at. Yes – there are rare circumstances where a home is listed way to high. But, when that is the case, it usually tells you that the seller is not willing to deal with reality, or their Realtor is doing them a huge disservice.
For any home over the $300,000 mark, this means if you don’t have to sell, then don’t. But if you do remember, it is a price war and a beauty contest. Meaning your home has to show extremely well, and your price needs to be aggressive, and a good Realtor will help you know exactly what that is.
What do you think?
Keller Williams Red Day 2009 in Chester County Comments Off
What is Keller Williams RED Day?
RED (Renew, Energize and Donate) Day is a new Keller Williams Realty service initiative dedicated to improving our local communities. This day has been dedicated in honor of our Vice Chairman, Mo Anderson, because of her constant commitment to the culture of Keller Williams. All Keller Williams Realty associates in the US and Canada were asked to donate their time on May 14, 2009 to renewing and energizing aspects of their local communities.
The vision for this day is that all Keller Williams associates will actively engage in a coordinated effort to improve their local community. Activities may include rehabbing a house, cleaning up a local trail, providing food for the homeless, or any other service related activity needed in your community. This was one of the single biggest events ever undertaken in the real estate industry, and could possibly inspire others in the real estate industry to start their own community service project.
Here in the Chester County area, numerous projects were undertaken. From the Keller Williams Exton office, which covers the Downingtown, Coatesville, West Chester, Phoenixville areas, to name a few, we focused on 4 projects.
One group of about 12 went to work with the ministry called “Good Works” in Coatesville. Good Works is a Christian nonprofit organization which exists to improve the living conditions for low-income families in Chester County, PA. There we helped one of the Coatesville Arson Victims help repair their homes. Another group went to help the Brandywine YMCA help get a camp ready for low income, inner city children, while another went to a nursing home to spend time with those who do not get many visitors.
Here is a quick slideshow of photos from the day.
