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Category Archive for: ‘News’

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National Real Estate Outlook: February 2010 Comments Off

TireTractionJanuary began the new decade with indications that the economy is beginning to gain traction. Real GDP grew by 2.2 percent in the third quarter of 2009 and preliminary signals point to a continued positive trend for the following quarter. GDP is a measure of total products and services produced by a country and indicates the health of the country’s economy.

A dip in home sales in December was due in large part to timing.  First time buyers that would have liked to close in December but qualified for the tax credit bumped their timeline up in order to cash in.  News of the credit’s extension reached many of them after their plans to close in December were set.

Interest rates are back below 5% and home prices are up compared to last year. The government continues to attempt to minimize the impact of troubled homeowners by continuing to improve its foreclosure prevention program and  has also taken steps to help foreclosures buyers purchase faster.

Although the unemployment rate is expected to stay high as jobs increase modestly,  experts expect the economy to continue to grow in 2010.

The Housing Market

Existing Home Sales
housemoneyphotopreview_000After a rising surge for three straight months, existing home sales slowed in December after first-time buyers rushed to meet the original November tax credit deadline and evidenced by first timers accounting for 51% of sales in November compared to 43% in December. “It’s significant that home sales remain above year-ago levels, but the market is going through a period of swings driven by the tax credit,” said Lawrence Yun, NAR chief economist. December sales of 5.45 million remain 15 percent above the 4.74 million-unit level last year.

USExistingHomeSalesFeb2010
Median Home Price
Existing-home price was $178,300 in December, 1.5 percent higher than December 2008 and 8.2 percent above its low in January 2009. It was the first year-over-year gain in median price since August 2007, attributable to an increase in the number of mid- to upper-priced homes in the sales.
USHomePriceFeb2010

Inventory
The supply of homes continued to shrink, falling 6.6 percent to 3.29 million, representing a 7.2-month supply at the current sales pace. Compared to a year ago, there are now 11 percent fewer homes on the market. This is the lowest level of competing homes on the market since March 2006.

USInventoryFeb2010_001

Mortgage Rates
Mortgage rates have moved back to less than 5 percent, which have been categorized by industry experts like Freddie Mac chief economist Frank Nothaft as “near a record low.” This move that may help boost home loan demand and lend support to the housing market recovery. On January 28, the average 30-year fixed-rate mortgage was 4.98 percent.

USMortgageRatesFeb2010

Affordability

Affordability remains at record levels, supported by the lowest mortgage rates in decades, low home prices, as well as the first-time buyer tax credit. So far this year, the home price-to-income ratio has fallen well below the historical average of 25 percent. The ratio now stands at 15 percent.

Sources: National Association of Realtors, Freddie Mac

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Posted on: 02-13-2010
Posted in: Chester County, General real estate statistics, News

Chester County Real Estate News: Week of February 8th Comments Off

W. Whiteland prepares for redevelopment

West Whiteland Township has approved a new stormwater management ordinance that addresses redevelopment. With the township mostly built out, township supervisors theorized that more projects would come before them on land that was already developed. Since older developments, built right after World War II, frequently didn’t have stormwater management controls, any redevelopment would be an opportunity “to repair the mistakes of the past,” noted John Welter, director of planning and zoning for the township. Township officials are primarily concerned about the redevelopment of sites with lots of impervious coverage built in the 1950s and ’60s. It was common in the past for building lots to be completely covered in asphalt, a practice that would be prohibited today because municipal zoning ordinances govern how much impervious surface is allowed. The state requires counties and municipalities to adopt stormwater management ordinances that control the rate and volume of stormwater discharge and how stormwater must be managed. The goal is to keep stormwater on site to recharge groundwater. Weller said few redevelopment projects have come before the township. But he speculated the section of Route 100 between Business Route 30 and the township line could be ripe for redevelopment, with developers combining small lots into larger lots. Click here to learn more about stormwater management in West Whiteland Township

Source: Daily Local; 2/2/10

East Goshen fills vacant supervisor spot

A former chairman of the township planning commission was sworn in Tuesday as the newest supervisor. Senya Isayeff will complete the term of former supervisor Joseph McDonough, who retired last month. Isayeff was chosen out of a field of six applicants by a majority of the board of supervisors at the Jan. 25 special meeting. The co-owner of a West Chester-based company that does hazardous waste abatement and demolition, Isayeff said Wednesday that he was pleased to have the opportunity to “serve, protect and perpetuate what has been a wonderful community.” A resident of East Goshen since 1995, Isayeff serves on a number of boards including the Chester County Historical Society and the West Chester YMCA. He served on the West Chester Regional Planning Commission for five years and was on the township planning commission for six years.

Source: Daily Local; 2/4/10

Unionville-Chadds Ford anticipates property tax hike above state index

The Unionville-Chadds Ford School District will seek to increase the tax rate above the state index for the 2010-11 school year. At last Tuesday night’s meeting, school board member Keith Knauss said the district would apply for two exceptions that could allow the district to raise taxes above the current 2.9 percent state index. If the state allows the exceptions, the administration could raise the real estate tax rates as high as 5.89 percent in Chester County and 3.68 percent in Delaware County. With those maximum increases, the tax rate would go from 23.58 mills to 24.97 mills in Chester County, and from 20.68 mills to 21.44 mills in Delaware County. A mill represents $1 in tax per every $1,000 of assessed real estate value. Under the proposed maximum increase, the owners of a home valued at $250,000 in Chester County would pay roughly $6,200 per year in school property taxes. In Delaware County, the same home would come with a $5,360 school property tax bill. Two factors are working against the district for the 2010-11 school budget year: the lowest-ever state index of 2.9 percent coupled with the recent downturn in real estate assessments in Chester County. Add to that a decrease in real estate transfer taxes, the district’s second-largest source of income, and the figures take on a grim hue. Click here to view the proposed preliminary budget in full.

Source: Daily Local; 2/1/10

Downingtown Area officials update budget struggle

Downingtown Area School District administrators announced Wednesday they are making the necessary cuts to ensure an anticipated school property tax increase will not exceed limits established by the state. District Chief Financial Officer Richard Fazio said the district would not increase taxes 4.9 percent as originally proposed, but he doubted a 2.9 percent increase could be avoided. The only way the district could increase taxes beyond 2.9 percent is if it applies for a state exception, which most school board members said they are unwilling to do. Fazio said that to meet the 2.9 percent increase, an additional $1.4 million must be cut from next year’s budget, as it now stands. The board must pass a preliminary budget by Feb. 12 to file for the state exceptions allowing the district to increase its tax levy beyond 2.9 percent. Lower assessed property values have hurt the Downingtown Area School District. In the 2004-05 school year, the district saw an additional $4.3 million in revenue from changes to its tax base. But this year that will drop. The district expects to make 1 percent of its budget from investment interest for the 2010-11 school year. Just three years ago, interest revenue made up more than 3 percent of the budget. Click here to learn more.

Source: Daily Local; 2/5/10

West Chester Borough sewer rates likely to begin long upward climb

Sewer rates in West Chester Borough will increase this year and will continue to increase each year for the foreseeable future, borough officials said. The borough is in the process of inspecting and repairing all of its sewers. Until recently, the borough responded to sewer problems but did not try to pre-empt them, said Public Works Director Bob Wilpizeski. The borough is in the midst of cleaning all of its sewer pipes, many of which are terra cotta and susceptible to cracks, root infiltration and other problems. After they are clean the borough will send cameras into the pipes to search for damage and other problems. This project is scheduled to take eight years. And as the borough identifies problems, it will raise sewer rates to pay to repair them, officials said. This month, sewer rates will increase 10 percent; a month of sewer service will now cost $22. If a property drains more than 2,000 gallons into the sewer during a month, $5.80 will be charged for each additional 1,000 gallons.

Source: Daily Local; 2/5/10

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Posted on: 02-8-2010
Posted in: Chester County, News

Chester County Real Estate News: week of February 1st Comments Off

Resident’s solar panel request denied in East Fallowfield
An East Fallowfield Township resident is angry that the homeowners’ association where he lives won’t allow him to erect solar panels on the roof of his home. The resident lives on North Anchor Way in the Brook Crossing subdivision. He wanted to put low-profile black solar panels on his rear south-facing roof.The panels would violate one of the restrictive covenants of the development that calls for any “addition, enclosure, garage, fence, planting or other improvement or modification erected, placed or maintained within a unit shall be harmonious in design with the single family dwelling unit.” The homeowner said that the board members of the HOA advised him that an attorney had reviewed the HOA’s bylaws and had concluded that “solar panels are not harmonious.” State Rep. Tom Houghton, D-13th, of Cochranville, is in the process of lining up support for a bill, HB 2234,that would prohibit HOAs from passing restrictive covenants that bar homeowners from placing solar panels on their roof or structure. The bill, which is modeled on a similar bill enacted by the state of Delaware, has just gone out to potential co-sponsors in the House of Representatives. The bill only applies to solar panels on a structure and not free-standing systems. About 25 municipalities in Chester County have drafted ordinances regulating alternative energy systems.
Source: Daily Local; 1/24/10

Lumber Yard condos to be built in phases in West Chester
The proposed 87-condominium Davis Lumber Yard development, which Borough Council approved last year, is now scheduled to be built in two phases. Hunter Davis, the developer and property owner, initially planned to build the project in one phase, but financing difficulties caused by the ongoing economic crisis caused him to alter his plans. Council last week granted Davis permission to divide the project in two. The first phase will total 38 units, Daley said. The units will be condos but will look much like town homes, according to Daley. Council last week imposed conditions on Davis that will prevent the construction site from being an eyesore should it take him more than several years to build all of the condos. Davis plans to build the units only after someone has agreed to purchase it. The Davis Lumber Yard is located at South Franklin and East Barnard streets. At just under four acres, it is one of the few remaining parcels in the borough capable of supporting a larger development. The condominiums are expected to start at $250,000.
Source: Daily Local; 1/29/10

East Brandywine unveils Bondsville Mill Park plans
East Brandywine Township held a public meeting to allow public input and to unveil its master plan for the Bondsville Mill Park project. The township plans to create a passive-recreational park on the 25-acre former mill site, located on Bondsville Road between North Bailey and Fisherville roads, with trails, natural areas and some historical renovations of former mill buildings. Site work could cost approximately $400,000.
Source: Daily Local; 1/26/10

Reaction mixed on T/E plan
Although passed unanimously, the preliminary budget that was approved at the Monday night Tredyffrin/Easttown Board of School Directors meeting did not gain the same unanimous approval from residents. The proposed preliminary budget for the 2010-2011 school year includes a projected $101.9 million in revenue and $111.15 million in expenses, leaving a $9.25-million deficit. On the table at the School Board meeting was the decision of whether or not to raise taxes in order to close the deficit. If the board approved raising taxes up to the 2.9-percent Act 1 index, the deficit would decrease to $6.85 million. If the board approved to apply for exceptions to the Act 1 index, it would be allowed to tax 3.73 percent on top of the index, which could bring the deficit down to $3.75 million. After discussion, the board voted on the motion to approve the proposed preliminary budget, with the authorization to seek out the Act 1 referendum exceptions, and the motion did not pass. The board then unanimously passed the preliminary budget with an adopted resolution limiting the tax increase to the Act 1 index of 2.9 percent or less. This was the sixth meeting during which the budget was a line item, and the board will continue to discuss and rework the budget through June. The hope is to end the year with a balanced budget. For more information and to view the budget online visit: www.tesd.k12.pa.us/index.html.
Source: Main Line Suburban Life;

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Posted on: 01-30-2010
Posted in: Chester County, News

Chester County Real Estate News: Week of January 24 Comments Off

Naturalizing stormwater basins focus of lecture

The Chester-Ridley-Crum Watersheds Association, in conjunction with East Goshen Township, Habitat Resource Network and other municipalities, is presenting a lecture next month on naturalizing stormwater basins. Many townships and private property owners have stormwater basins on their property, but aren’t aware that making modest changes such as adding native species can improve the look and function of the basins. Homeowners, property managers and parks managers can benefit from the lecture Feb. 7 at 2 p.m. at Penn State Brandywine in Middletown Township. The free lecture is presented by Mark Gallagher, vice president of Princeton Hydro, a company that specializes in ecological and engineering consulting services. The presentation will provide examples of landscaping with native plants and the redesign of existing basins which improve the basin’s ability to infiltrate more stormwater and reduce maintenance costs. Gallagher will explain the state’s new stormwater regulations for municipalities. The lecture will be held from 2 to 3:30 p.m. in the Tomezsko building auditorium of Penn State Brandywine, 25 Yearsley Mill Road in Media. Space is limited. Reservations are recommended. Contact Chester-Ridly-Crum at crc@nni.com or call 610-892-8731.More information is available at www.crcwatersheds.org or www.habitatresourcenetwork.org.

Source: Daily Local; 1/19/10

OJR eyes possible $1.6 million budget shortfall

The Owen J. Roberts School Board is looking for ways to avoid a potential budget shortfall for the next school year. The 2010-11 budget won’t be approved until June, but the school board got a first look at the preliminary financial plan at a workshop Monday night. It’s likely that the budget will undergo a number of revisions between now and June. Business Manager Jaclin Krumrine warned the board that the preliminary budget shows the potential for a $1.6 million shortfall, even if the board levies the 2.9 percent real estate tax hike allowable under Pennsylvania’s Act 1 taxing index. The board must decide this month whether to apply for two special exceptions that would allow for a greater tax increase. Krumrine recommended applying for those exceptions now, even though future cuts to the preliminary budget could render the exceptions unnecessary.

Source: Daily Local; 1/18/10

Coatesville official: Chetty deal meeting ‘suspicious’

Coatesville City Council authorized its solicitor to review a special meeting regarding the city’s sales agreement with development company Chetty Builders. Councilman Karl Marking suggested tasking newly appointed City Solicitor John Carnes to “review the legitimacy of the manner in which the meeting was called and executed” to ensure the Dec. 23, 2009, special council session was “in accordance with the Sunshine Law and the city charter.” Council unanimously approved. The special meeting in question began at 5:30 p.m. at City Hall and lasted about five minutes. During that meeting, City Council, including some members no longer on the council, approved a sales agreement with Chetty Builders for an 84-townhouse community on a northern, 10-acre section of The Flats. The sale agreement and addendum were passed on a 4-0 vote, with former Council President Martin Eggleston and former Councilwoman Robin Scott absent. The agreement states that Chetty Builders plans to pay the city about $1.6 million for the land. But the actual purchase price will be paid to the city in installments at the closing of each townhouse in the proposed residential subdivision. The townhouses will range in price from $159,000 to $199,000.

Source: Daily Local; 1/20/10

Budget cuts under review by West Chester Area School Board

The West Chester Area School Board has begun to consider the budget cuts that the school district’s community budget task force developed late last year. On Monday night, the school board’s education committee and pupil services committee, both of which are made up of school board members, talked over some of the cuts. Among the cuts they looked at were reducing the number of high school counselors available during the summer; ceasing to offer free SAT prep courses; and starting vocational education in 10th grade rather than ninth grade. Neither panel committed to any particular budget cut. Discussions are likely to continue over the next few months, and cuts are likely to be finalized by mid-spring, officials say.

Source: Daily Local; 1/20/10

Great Valley School Board votes to limit tax increase

A split Great Valley School Board voted 6-2 Tuesday to keep any increase in taxes for the 2010-2011 school year within the state’s Act 1 index of 2.9 percent. The district is facing a $3.2 million shortfall in revenue for the 2010-2011 school year’s projected $78.8 million budget. If the board voted to apply for the special exceptions, it would have to approve a preliminary budget by Feb. 16. Since the board voted to keep the budget within the Act 1 index, the preliminary budget doesn’t have to be approved until April. The full board will continue discussing the budget at the finance committee meeting Feb. 1, which will be open to the public.

Source: Daily Local; 1/21/10

Taxes rising in West Pikeland

The West Pikeland Board of Supervisors increased taxes for the second time in the last two months, but now must decide exactly how to use the money that is already earmarked. The millage rate in West Pikeland was 0.125 mills in 2009, but in November the board voted to increase the rate to 0.2 mills in order to help balance the budget. On Tuesday, the board reopened the budget and hiked the tax rate up to 0.5 mills on a 4-1 vote, but stipulated that the additional funds generated from the most recent increase be used for infrastructure within the township. Most residents in the audience at Tuesday’s meeting threw their support behind the hike, but were concerned over the earmarking of funds for infrastructure purposes. The main cause for the board’s move to produce more revenue was that a survey was done by engineering firm McCormick Taylor on the township roads. The survey recommended a 10-year repair plan that would ultimately cost $6.5 million.

Source: Daily Local; 1/21/10

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Posted on: 01-26-2010
Posted in: Chester County, News

Chester County Real Estate News: Week of January 18th Comments Off

Chamber of Commerce hosts transportation forum

A transportation forum organized by the Chamber of Commerce of Greater West Chester provided an overview of the changes and improvements that will affect the way West Chester travels, as well as the borough’s economy. In a recent survey, the Transportation Management Association of Chester County reported that 86 percent of people said that the lack of regional transportation, specifically to and from Philadelphia, impairs West Chester economically. A widely shared concern among the panel involved the lack of available funds to conduct certain projects or to complete them as desired.  Reconstruction plans for Route 202 Section 300 (North Valley Road to the Route 30 Bypass) will include widening, providing an additional lane on each side of the highway. But PennDOT does not expect to begin the $115 million construction project until early spring in 2011. In addition to the highway reconstruction, SEPTA’s regional railroad system will receive upgrades in March, when it will introduce three new trains to replace transit vehicles that have been operating for close to 50 years.

Source: Daily Local; 1/13/10

West Pikeland to reopen budget

The West Pikeland Board of Supervisors voted on Monday to reopen the township’s budget in order to increase taxes once again. The board increased taxes for the first time in approximately 30 years when it moved the millage from 0.125 up to 0.2 mills. But the plan now is to move the tax rate up to 0.5 mills, quadrupling the 2009 tax rate. Residents currently pay between $30 and $40 per year in property taxes in West Pikeland on average. Now they will pay between $120 and $160. The township will hold a public hearing concerning the proposed tax increase on Jan. 19 at 7:30 p.m. The supervisors’ desire to increase the township’s working capital stems from a report done in 2009 by an engineering firm, McCormick Taylor Inc. The report said that the township needed to undertake road repairs and maintenance over the course of the next decade that would cost a total of $6.5 million. Given the report, the township’s financial review committee recommended that the board increase taxes up to 0.5 mills.

Source: Daily Local; 1/7/10

It’s not all Transco wanted, but bigger pipeline delivers more natural gas

Transco’s new and wider pipeline, which crosses five Chester County townships to bring natural gas to the Northeast, is delivering an extra 100 million cubic feet of gas a day. The additional volume is due to the recent expansion of its pipe in the county from 30 to 42 inches in diameter. The pipe expansion was completed after a plan to add a fourth pipe drew complaints from property owners and others. The controversial project took three years to complete, and one 2,000-foot-long section of the pipeline, which runs under East Brandywine Creek, remains 30 inches in diameter. As a consequence, the pipeline in this area is less efficient, according to a spokesman for Transco’s parent company, Williams, a major natural gas producer. Williams wanted homeowners who have these pipes in a 100-foot right of way on their land to grant the company an additional 20 to 50 feet of right of way to put in a fourth pipe. The protests of many homeowners reached local, state and federal lawmakers, and Williams later decided to abandon plans for a fourth pipe and instead take one of the three existing pipes and increase its diameter. More conflicts with the homeowners forced Williams to pursue eminent domain proceedings against 36 of the 175 landowners affected by the pipeline project. While the project is done and more natural gas is flowing to Northeast customers, some local residents still wonder if it’s not just a matter of time before Williams is back to replace that last section of pipe.

Source: Daily Local; 1/12/10

County, federal authorities conduct forensic audit in Coatesville

Coatesville City Council unanimously approved a resolution Monday night inviting federal and county authorities to conduct a forensic audit of the city’s finance and realty transactions. The resolution states:“Chester County Detectives, in conjunction with the FBI, will immediately conduct a forensic audit of the city’s finance and real estate transactions for the purpose of determining evidence of obstruction of justice, misdirection of funds, willful negligence and actions of criminal intent by the city’s administration and/or council.” Recently, authorities reportedly raided the office of Harry Walker, the city manager placed on administrative leave earlier this month. Council hired John Carnes last week after removing Andrew Lehr from the city solicitor’s position. Assistant City Manager Kirby Hudson is acting as the interim city manager.

Source: Daily Local; 1/12/09

Deadline looms for West Bradford Streetscapes work

West Bradford Township has selected a design consultant for the Marshallton Streetscapes project, but questions still remain regarding whether the necessary paperwork to qualify for $2 million in federal stimulus funds can be completed by deadline. Township officials and the township’s new design consultant met with officials from the state Department of Transportation and Delaware Valley Regional Planning Commission on Friday to go over a schedule for the many reviews and reports that have to be submitted. Known as the Marshallton Gateway Project, the plan is to add brick sidewalks, curbing, crosswalks, improve stormwater drainage, repave Strasburg Road and add welcoming gateways at both ends of the village. The township has been working on this project for five years and has spent $80,000 in engineering costs.

Source: Daily Local; 1/13/09

Valley officials approve budget with real estate tax hike

Valley Township supervisors recently approved the 2010 budget which includes a real estate tax hike — the first increase in more than 20 years. The Board of Supervisors approved the 2010 budget at $2.9 million on Dec. 28. This reflects a 13 percent increase over the 2009 budget. The tax rate was raised to 1.5 mills, with one mill equal to $1 in tax for every $1,000 in assessed property value. An average taxpayer with a home assessed at $110,005 would therefore generate a municipal tax bill of $165 — an increase of $68 over the prior year. Township officials said the increase in taxes was necessary due to a decline in construction permits and realty transfer tax revenue.

Source: Daily Local; 1/10/09

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Posted on: 01-18-2010
Posted in: Chester County, News

Chester County Real Estate News: Week of January 11th Comments Off

Phoenixville receives $250,000 grant for downtown streetscape

Congressman Jim Gerlach contacted Main Street Manager Barry Cassidy on Dec. 15 to confirm that $250,000 was secured for additional funding toward Phoenixville’s downtown streetscape project. The federal grant will be used to do work on the development of the Barto property. Since the Barto property currently does not have on-street parking, the grant will go toward widening the street and adding another lane. When completed, the property will include 38,000 square feet of retail and commercial space, 448 residential units, and structured, shared parking in two 13-story mix-used towers.

Source: Daily Local; 1/1/10

Forum examines Phoenixville Borough’s economic future

Lisa Longo, owner of Earth Mart on Bridge Street in Phoenixville, hosted the Phoenixville forum on Dec. 21.Longo began the informal meeting of state, regional and local government representatives, as well as borough residents and merchants, by defining economic development. She said economic development,  job creation and a reduction in crime can only occur when three key elements are in place, including: education, infrastructure and incentives. Among the concerns brought up at the meeting was poor communication among various organizations in the borough, including the Phoenixville Economic Development Corporation, Phoenixville Area Business Association, the Chamber of Commerce, Main Street Community Development Corp. and Borough Council.

Source: Daily Local; 1/2/10

Brandywine Valley Y backing $30 million development plan

Brandywine Valley YMCA officials will support the Kennett Area branch’s participation in the $30 million Kennett Square Community Development Plan. Only the Barnard Taylor Library stands in the way of a collaborative effort that planners say will increase commerce in Kennett Square and expand community and recreational services to area residents.  The plan calls for the Kennett Area YMCA, Bayard Taylor Memorial Library, Anson B. Nixon Park and the Borough of Kennett Square to form a partnership that will: build a parking garage at the corner of Race and State Streets; expand the Kennett Area YMCA; keep the library in the borough in a new state-of-the-art facility; and restore historic buildings in the park. The project also includes various road and walkway improvements. Every municipality that surrounds Kennett Square has publicly announced support for the plan. When completed, the revitalization project would bring an additional 75 to 100 new employees to Kennett Square. About 1,000 workers would be employed through construction projects over 10 years.

Source: Daily Local; 1/4/09

Downingtown Borough’s staffing, taxes under review

Downingtown Borough officials unanimously approved a 2010 budget Wednesday night but will likely revisit the budget this month after council reorganizes. Because the borough has new elected officials waiting to be seated, Councilwoman-elect Ann Feldman and Mayor-elect Josh Maxwell, council may reopen budget discussions and make changes.  The budget approved by council Wednesday increased taxes by 0.6 mills, from 6.1 to 6.7 mills. The average homeowner in Downingtown will now pay about $670 per year, compared to $610 in 2009.

Source: Daily Local; 1/5/09

Coatesville City Council places manager on leave

Coatesville City Council placed City Manager Harry Walker on administrative leave and removed Andrew Lehr as city solicitor at Monday afternoon’s annual reorganization. These decisions came after the swearing-in of four newly elected Democratic council members: Jarrell Brazzle, Joseph Hamrick, Ingrid Jones and Karl Marking. Shortly after the vote was taken to remove Lehr, Marking made a motion to appoint attorney John Carnes as solicitor. Carnes is a solicitor in Parkesburg and West Nottingham and was Coatesville’s solicitor for eight years during the Paul Janssen Jr. and E. Jean Krack administrations. Council unanimously appointed Assistant City Manager Kirby Hudson as interim city manager.

Source: Daily Local; 1/5/10

Easttown board approves budget with 12 percent tax hike

Easttown Township’s Board of Supervisors approved a $12.8 million 2010 budget that carries a 12 percent real-estate tax increase. The budget brings the current 3.361 millage to 3.769 mills, or about $3.77 per thousand dollars of a property’s assessed value. The budget also includes a newly adopted Local Services Tax (LST), a $52 flat tax levied on all who work in the township.

Source: Main Line Suburban Life; 12/23/09

Developer is picked for Paoli Master Plan

Development of the Paoli rail yards, 20 acres in Tredyffrin and Willistown Townships, has been a part of the Paoli Master Plan since it was adopted by both townships in 2001. The proposed vision of the Paoli Master Plan, which has a timeline spanning 20 years, involves building a new Paoli Transportation Center (PTC) about 800 feet west of the existing train station. The PTC is planned to include a modern train station and accommodate hundreds of daily riders and a state-of-the-art garage, and it will be housed within a mixed-use development consisting of both retail shops and residential areas. Discussion of this development has been in the works for about 15 years, and now Strategic Realty Investments has been selected as the master developer. For more information on development plans for Paoli, visit www.tredyffrin.org.

Source: Main Line Suburban Life; 12/23/09

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Posted on: 01-11-2010
Posted in: Chester County, News

Home sales up in Chester County and nationally Comments Off

Home Sales in Chester CountyHome sales both nationally and locally had their strongest performance of 2009 in November. Undoubtedly aided by the deadline on the 2009 First Time Homebuyer Tax Credit, sales showed modest gains over a strong October 2009 and substantial gains from a year earlier (November 2008).
Nationally, sales were 44.1 percent higher than in November 2008, the National Association of Realtors reported yesterday, with 51 percent of the purchases attributable to rookie buyers. Locally the comparison between November 2009 and 2008 was much more significant with Chester County sales up 82%, Delaware County up 101% and Montgomery County 81%.

Experts anticipate that the market may hit a lull in the early part of 2010 as buyers take their time looking prior to the April 30 deadline for the expanded and extended tax credit. Two things to keep an eye out: will mortgage rates begin to rise and will the inventory of houses continue to decrease (they’ve gone down considerably over the last few months in the three Suburban West counties)

READ THE ENTIRE PHILADELPHIA INQUIRER ARTICLE

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Posted on: 12-28-2009
Posted in: Buyers, Chester County, First Time Home Buyer, News

2010 Chester County budget approved – No Tax hike Comments Off

Chesco commissioners OK 2010 budget with no tax hike

Chester County commissioners said yesterday that repercussions from the economic crisis had motivated them to hold the lines on taxes, and they unanimously approved a 2010 budget of nearly $521 million.

The commissioners said combining $3.9 million in spending cuts with $1.5 million in increased revenue from less-than-expected losses from real estate assessment appeals had helped them spare strapped taxpayers an additional burden.

“Strategic planning is already working for Chester County,” Commissioner Carol Aichele said, adding that conservative debt management had aided the commissioners’ goal of no tax increase with no cuts in services.

With hard work from the staff, she said, the net cost of county government has been reduced by $27 million over two years and generated $3 million in debt-related savings.

Commissioner Kathi Cozzone said she was “pleased and proud” of the work done on the budget, and she commended the employees who labored to cut costs.

But she said she remained “concerned about where we’re going to be next year and the year after that.”

Cozzone noted that county employees would not receive raises in the coming year, a practice that she said couldn’t continue. In addition, the state is warning that 2010 might be more difficult than 2009, she said.

“While this ‘no tax increase’ budget is a good thing for taxpayers now, I believe there is some real risk in our revenue estimates, and in some areas we may be cut too tight,” Cozzone said.

A hiring freeze remains in effect, with the exception of positions funded by grants, the commissioners said. Workers who leave will be replaced, they said.

The commissioners said some state reimbursements to the county, particularly in the courts and law enforcement, were more than a year overdue.

“It’s important to note that county property taxes were never designed to support state-mandated programs,” Aichele said.

By Kathleen Brady Shea, Inquirer Staff Writer – Original Article

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Posted on: 12-20-2009
Posted in: Chester County, News

Chester County Real Estate News at a Glance: Week ending December 11th Comments Off

Phoenixville passes rental ordinance amendments

Phoenixville Borough Council voted to pass amendments to their rental ordinance. The changes include an update to their rental registration form and also a definition of “owner occupied.” Additionally, the changes put in place a tenant nuisance system modeled after West Chester.  The council briefly discussed the future possibility of establishing a requirement for landlords to live within five miles of the borough. The Suburban REALTORS Alliance is actively working on this issue.

Pocopson’s Barnard House to be used as township center

When Chester County officially turned over the historic Barnard House to Pocopson last fall, the township expressed a desire to use the property as administrative offices. It was also going to share its space with the currently defunct Kennett Underground Railroad Museum, which closed its doors nearly five years ago. But as the supervisors explored their options for the building and the 68-acre lot it sits on, the idea to transform the land into an extensive community campus finally took hold. Township Supervisor Georgia Brutscher said that the campus, located on South Wawaset Road adjacent to the Pocopson Home, would be the township’s center, a place where community groups can meet and families can gather and enjoy the open space and extensive township-wide trail network.

Source: Daily Local; 12/6/09

No new taxes for Pocopson

Despite a number of upcoming projects still in the pipeline, there is no tax increase on the horizon for Pocopson. The proposed budget — presented to the public on Monday, Nov. 23 — is fairly straightforward with nothing unusual to note. Currently the millage rate in Pocopson is 1.2 mills for real estate, with an additional 1 mill open space fund tax, for a total of 2.2. mills. A mill is a tax of $1 for every $1,000 of assessed real estate value. That means for a house assessed at $250,000, there is an annual tax of $550.The 2010 budget is available for review on the township’s Web site here.

Source: Daily Local; 12/6/09

Downingtown staff cuts, tax hikes looming

Downingtown Borough Council members must weigh raising taxes against laying off employees as they attempt to balance the 2010 budget. A $260,000 deficit must be eliminated in the coming weeks. Municipal governments in Pennsylvania are forbidden from adopting a budget that carries a deficit. Council’s budget committee will provide the full council with recommendations for cuts at its work session Dec. 16 in hopes of balancing the budget. The public will be able to review the budget and provide comments. Real estate tax, transfer tax revenues and investment returns have been down. These three major revenue streams have been cut by $150,000 from what was projected in 2009, leading to the deficit. Council has three options to consider. The first is to dip into the general fund cash reserve.  The second option is for council to raise taxes. In order for the budget to be balanced, the taxes must increase 0.8 mills. That would bring the total property tax rate in the borough up to 6.9 mills. The proposed tax increase would be a 13 percent jump for taxpayers, increasing the average tax bill by $80 per year. The third option for council is to cut employment within the borough.

Source: Daily Local; 12/6/09

Budget panel presents its recommendations to Tredyffrin officials

Tredyffrin Township’s preliminary 2010 budget met some opposition at a recent supervisors meeting. Concerns surrounded budget cuts planned for Tredyffrin fire companies. And confusion arose about a recommendation from the Budget Advisory Working Group, a panel of civic volunteers helping to develop suggestions on how to improve the township’s finances. The group worked for months to write a report for township supervisors with recommendations on how to save money and find revenue. The report is available for viewing on the township’s Web site, www.tredyffrin.org.

Source: Daily Local; 12/5/09

Phoenixville Borough Council passes budget with no tax increase

Phoenixville Borough Council passed its proposed 2010 budget with no tax increase. Council voted on several issues at a Nov. 24 meeting that helped lower a proposed tax hike to zero. The borough will renegotiate the Community Development Corp.’s contract to reduce costs by 50 percent, or $62,500. Last December council accepted a five-year agreement with the corporation at $125,000 per year. Buckwalter said the 2010 budget is advertised as proposed and incoming council members may reopen it if they choose in January.

Source: Pottstown Mercury; 12/8/09

No property taxes in West Bradford

While most municipalities are feeling the pain of the recession through a reduction in revenue, West Bradford’s chief source of revenue, the earned income tax, has remained fairly steady so far. As a result the township has no plans to institute a property tax, which was abolished in 1972, but residents will see their trash fees go up slightly. About 60 percent of the township’s revenue in the general fund comes from the earned income tax, which was estimated at $1.78 million in 2009 and is estimated to be $1.68 million in 2010. The second largest source of income is the real estate transfer tax, which represents 10 percent of general fund revenues. That income has declined nearly 40 percent from 2007 figures. In 2007, the transfer tax brought in around $500,000 in revenue. In 2009, that number was down to approximately $315,840.

Source: Daily Local; 12/10/09

East Coventry Township to see no property tax increase

East Coventry’s 2010 budget, which will be up for vote on December 14, calls for no property tax increase in the coming year. The average township property assessment is $165,000, meaning the 3 mil real estate tax will cost the average property owner $495 in taxes. The full budget is available on the East Coventry Township website.

Source: PottsMercury; 12/9/09

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Technorati Tags: Chester County Real Estate News

Posted on: 12-14-2009
Posted in: Chester County, News

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.

(The Mercury, Published Dec 9th, 2009)

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Posted on: 12-10-2009
Posted in: Chester County, News
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