Real Estate Trends in Media PA

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Media, PA, United States
Direct: 610-420-0498 Office 610-627-4937 BHHS Fox and Roach Realtors Email: Homes@BrankaDoych.com Visit my websites www.BrankaDoych.com

Friday, October 29, 2010

What are the schools in your area? How do they rate?

Most of the time buyers wish to knwo where are the schools in their area of interst and how do they rate?  Here is a link that may answer some of those qestions. 

How long may it take to sell a home in Swarthmore PA?

Presently there are about 35 homes on the market in Swarthmore, average monthly homes sales year to date are 5, and accumulation of inventory of homes for sale is about 8 months.  How to prepare your home to sell sooner is a great question for your Realtor and your Stager

Thursday, October 28, 2010

Real Estate in Philadelphia area - How we see it!

Here is what local Real Esate Expert says about state of real estate in Philadelphia area:
"Yesterday the Case Shiller Housing Price Index reported a very slight decrease in home prices for the last quarter, but a modest increase over the past year (Q3 2010 over Q3 2009.) The Case Shiller HPI tracks paired real estate sales in 20 major metropolitan areas. Philadelphia is not one of those tracked. The press will most likely generalize this report as if the entire country were one real estate market, but as we know, it does not apply to the PFR/T market area.

Joel Naroff, an economist who consults for PFR/T issued the following statement about the Case Shiller report:

“While the home buyers’ tax incentives may have created some additional demand, what it really did was change the pattern of demand. Sales from later in the year were pulled backward into the spring. That helped firm up prices but also created the let down we saw during the summer. The price change patterns we saw over the spring and summer are essentially worthless. The real issue is not the government-hyped ups and downs but where prices are going from here. Unfortunately, the data we may get over the next few months could also be misleading because of the problems with mortgage documentation. A slowdown in foreclosures could change the distribution of sales and that could affect price measures. My best guess is once the noise is removed from the data, we will see prices rising in most metropolitan areas across the nation and that is not limited to the twenty in the Case Shiller survey. Large parts of the country have already turned the corner and many are places that were not and will not be overwhelmed by the foreclosure crisis. While some of the largest areas are still weak and those areas dominate the data, the smaller and mid-sized metropolitan areas as well as some of the bigger ones (Philadelphia is not included and it is doing just fine, thank you) will continue to get better slowly.” comments by Larry Flick of Prudential Fox and Roach / Trident

Monday, October 25, 2010

How long does it take to sell a home in Media Pa area?


Many times a day I am asked: "In today's market, how long does it take to sell a home in Media area? My answer is: "it depends"!


Most important factors are the condition of your home and the listing price.

Here are some pure statistics, but the rest in up to you and your Realtor.

As reported by TrendMLS, (multiple listing service used by Realtors) in Media, Middletown and Upper Providence PA, in 2010 - year to date there were 391 homes listed for sale and 189 have settled so far. Some homes have been removed from the market.

Presently reported 188 homes are available for sale, which gives us an accumulation of 9 months.
This means that if no new homes came on the market past today, it would take about 9 months or average of 97 days per home to sell.

Report includes all price ranges. For a specific price range in PA send me an email – no obligation and I am glad to share. Branka@BrankaDoych.com

Friday, October 22, 2010

Bank of America and GMAC - forclosures

Bank of America and GMAC  report that they will resume  forclosure process.  For more details:

Thursday, October 21, 2010

What is Philadelphia credit score?

According to reports from Experian Midwest cities rule - Minneapolis has a score of 787, Philadelphia area is at 761. Visit Experian for more information.

Wednesday, October 20, 2010

2nd big lender stops forclosure process!

GMAC Mortgage was the first big lender to pause foreclosures while it reviews past files.


JPMorgan Chase, is the 2nd large lender that has stopped foreclosures so it can review loan documents for errors.

Sunday, October 17, 2010

Expenses that buyers can expect during a real estate transaction...

This is what buyers need to plan for when buying a home:

• Home inspection fee (may include well, septic)


• Termite inspection (depends on state)

• Special inspections such as pool or mold

• Credit report fee

• Appraisal fee

• Closing costs

• Home Warranty

• Moving expenses

Saturday, October 16, 2010

Expenses that sellers can expect during a real estate transaction...

Here are Seller Expenses in a Real Estate transaction:


• General clean-up if needed

• Remove trash and debris

• Home staging

• Pre-listing home inspection

• Pre-listing appraisal

• Home inspection repairs pursuant to buyer home inspection

• Termite inspection (depends on state)

• Termite treatment and/or termite damage repairs

• Condominium or HOA documents for buyer or lender

• Home Warranty

• Use and Occupancy

• Tax Certifications

• State and local Real Estate Transfer Tax

• Moving Expenses

Friday, October 15, 2010

Remember this is a "big picture news": Best-Case Scenario for Foreclosure Freeze

Daily Real Estate News

October 13, 2010


Best-Case Scenario for Foreclosure Freeze

Gregor Watson, a principal with McKinley Partners, a development company that buys foreclosed homes, told listeners on a Citi home-builder conference call that there were three potential outcomes from the foreclosure fiasco:



· Best case: These are technical issues that can be resolved quickly so the foreclosure process can continue and the glut of foreclosed homes is cleared from the market.



· Medium case: There is significant litigation that takes years to sort out and this slows the troubled housing market even further.



· Worst case: The market grinds to a halt and title insurers refuse to insure mortgages involving foreclosed homes. “It would be devastating for the resale market if this robo-signer issue spiraled out of control,” Watson says.



Source: The Wall Street Journal, Dawn Wotapka (10/12/2010)

What's Real Estate Weather Like in Philadelphia Area Today?



As a Realtor, I have this love/hate relationship with media. I love to be informed and I strongly object when the information is not accurate and local experts are not consulted. Remember, Real Estate is like weather, it is local and it has cycles.


Great example:  Five years ago, good news about the real estate market was exaggerated. Now the statistics from the worst market in the country are generalized as if they were occurring everywhere.
Here’s a quiz…

TRUE OR FALSE:

1. Home prices have come down over 50%.

2. Over 6% of households are in foreclosure.

3. The suspension of foreclosures by major financial institutions will delay recovery of the real estate market.

The answer for each is – IT DEPENDS.

In Las Vegas, Nevada prices have come down an average of 58%. In the Prudential Fox & Roach market area, prices have declined an average of 7% from the peak of the market until now – a very moderate number.

In addition to having the distinction of experiencing the greatest price declines, Las Vegas also has the highest foreclosure rate at 6.6%. Less than ½ of 1% of households in our market area are in the foreclosure process – one of the lowest rates in the country. Because foreclosures make up such a small percentage of households in our market, if some were suspended the impact would be insignificant.

As our clients in Philadelphia area you must understand that real estate markets are local, that our prices have not taken a nosedive, and that our market is not flooded with foreclosures. You may think differently because you, our clients have been inundated with a continuous stream of negative news from the press because extremes, whether booms or busts, get attention.
Here’s another quiz:

TRUE OR FALSE:

Now is the best home buying opportunity of a lifetime.

The answer for our marketplace is TRUE!

Here’s why:

1. The Market

• We have clearly seen the bottom of the market. Unit sales have dropped after the April 30, 2010 expiration of the home buyer tax credit, but annual sales have been stable for three years.

• Prices have been stable this past year.

• There is a great selection of homes and sellers have become more realistic.



2. Interest Rates

• Interest rates are at generational lows. It is hard to believe they will go much lower, and they will definitely rise as the economy begins to improve. We would normally think of 5.5% as a terrific rate but at the current rate of 4.25% is outstanding. A buyer borrowing $250,000 over 30 years will save $2,700 each year over the life of the loan. That’s a total savings of $68,000!



3. Quality of Life

• It’s not unusual to hear conversations about the rent versus buy scenario. There are some advantages to renting but in reality, the Philadelphia area has never been a rental market. The best communities are made up of owners who care about their properties. Owning a home is one of the best ways to take control of our future.

• Houses are more affordable than they have been in years. Stable prices and incredibly low interest rates allow buyers to purchase more for their money so they can enjoy living in a house that better meets their lifestyle needs.



4. Long-term Investment

Owning a home has been the best long-term investment in our area, far outperforming the stock market. In the past ten years, the value of Philadelphia area housing rose an average of 91%, while the S&P 500 lost 22.5%.

Right now, many people are carefully considering whether or not to buy a home. Lack of confidence in the economy and the job market are holding them back. But there is only so long to wait before this opportunity ends. If life circumstances dictate a move, it’s best to act now! I can’t imagine that conditions will improve for potential home buyers in this area!

In five or seven years, many of you my clients will look back and either be glad that you bought a home or be sorry that you didn’t. It’s my job to provide you with the expertise and knowledge to make the right choice now, or else you will look back and say, “I should have.”

After all, the true value of what I do goes beyond showing houses or writing contracts. It is in helping people make their dreams come true!

Pumpkin Days at Tyler Arboretum near Media

pumpkins

Pumpkin Days at Tyler Arboretum will take place Saturday Oct 16th and Sunday, Oct 17th from 10:00 AM until 5:00 PM. Enjoy the music of Makin' Music: Rockin' Rhythms Band, authentic Native American Performers, Toni Seaflower and Bart Standing Elk, accompanied by We Dubi Cung Drummers and of course, the Penncrest High School Band. Watch master sculptor, Chuck Field create a masterpiece from sand. Get spooked in the Haunted Barn, a teenage favorite, take a Hayride, bounce on the Wizard's Castle Moon Bounce and Bungee Trampoline, have your cheek painted, enjoy our roving juggling stilt walker, clowns, Wawa Goose and more. Plus: Food Court, make & take crafts, activities, popular Pumpkin Patch, pumpkin painting, games and contests!

Nature's Enchantment: Totally Terrific Treehouses is open through Sunday, October 31. Visit this season's exhibition with 29 interactive structures and displays.

FREE with regular admission; no pre-registration required. Members: $4 for adults, $2 for children ages 3 to 15. Non-members: $9 for adults, $6 for children ages 3 to 15. Kids under 3 admitted FREE.

Tyler Arboretum is located at 515 Painter Road, Media, PA
For additional information, call  610-566-9134 or go to http://www.tylerarboretum.org/

Thursday, October 14, 2010

***Turn fallen autumn leaves into compost to save energy and landfill space***

Don;t bag up your fall leaves and put them out for the trash! Instead turn them into compost, and save energy and landfill space. The waste from our yards makes up 20% of your communities' trash that is hauled away and it is the second-largest component of our trash stream (behind paper), according to the EPA. Besides that, trash trucks use a lot of fuel! According to CompostGuide.com, the leaves of one large shade tree can be worth almost $50 of plant food and humus. Your garden and landscaping can benefit from the minerals in dead leaves.
To get the best results in your compost bin, shred leaves up. Layer with other types of materials, especially manure, green weeds or grass clippings, or add a nitrogen supplement like cottonseed meal, bone meal or dried blood. Keep the pile moist and turn it over frequently.

Wednesday, October 13, 2010

Contact information for municipalities in Wallingford-Swarthmore School District, Delaware County, PA

Here is the contact information for municipalities in the Wallingford-Swarthmore School District in Delaware County.  If you need to look up the municipality where you live, go to http://www.co.delaware.pa.us/towns/index.html

Nether Providence Township
214 Sykes Lane
Wallingford, PA 19086
Phone: 610-566-4516
Fax: 610-892-2890
Web: www.netherprovidence.org/

Rose Valley Borough
Old Mill Lane
P.O. Box 198
Rose Valley, PA 19065
Phone: 610-566-2040
Fax: 610-892-7275
Web: rosevalleyborough.org/


Rutledge Borough
212 Unity Terrace
Rutledge, PA 19070
Phone: 610-544-1028
Fax: 610-544-1028
Web: http://www.rutledgepa.org/



Swarthmore Borough
121 Park Ave.
Swarthmore, PA 19081
Phone: 610-543-4599
Fax: 610-543-1833
Web: http://www.swarthmorepa.org/

Tuesday, October 12, 2010

Pumpkinland and Harvest Festival at Linvilla Orchards near Media, PA


Linvilla Orchards' Pumpkinland is up and running.  Larger than life figures and scarecrows illustrate stories and legends.  Run through the straw bale or cornfield maze! Take a hayride, train ride or pony ride. Get your face painted and see the Jack-o-Lantern exhibit.  A huge selection of pumpkins, straw bales, corn shocks, fall decorations, masks, costumes, and toys are available for sale.The Linvilla Grill has food you can eat while you enjoy live music and entertainment.  Linvilla Orchards is located at 137 W. Knowlton Road, Media, PA.

For more information and calendar of events go to http://www.linvilla.com/.

Monday, October 11, 2010

***FREE***Scott Arboretum Fall Festival Lecture in Swarthmore

The Scott Arboretum on the campus of Swarthmore College will feature a lecture by Eric T. Fleisher entitled Gardening for the 21st Century. Fleisher is the director of horticulture at Battery Park in New York City and he created the 37 acre public garden that is maintained completely organically. It is visited by 10 to 12 million people each year. He is helping the Scott Arboretum with developing an organic approach to lawn management. In this lecture he will discuss 21st century gardening topics including feed stock management, composting practices, recipes, compost tea, beneficial bacteria, and the overall web of life in the garden. It is free and open to the public with a reception following the lecture. Attendees will receive a free plant - the Tulip batalinii ‘Bronze Charm’.

When:  Saturday, October 16th at 2 pm
Where:  Lang Music Building, Swarthmore College, 500 College Avenue, Swarthmore, PA
RSVP: 610 328-8025 or at  http://www.scottarboretum.org/calendar/current.html (scroll to below the calendar to find the event listed under the 16)

Monday, October 4, 2010

BROADWAY SERIES AT THE MEDIA THEATRE - Subscribe now!

MEDIA THEATRE OPENS ITS 2010-2011 BROADWAY SERIES!  The historic Media Theatre in Media, Pennsylvania is located at 104 East State Street, Media, PA 19063.
For information, call 610-891-0100 or go on the website http://mediatheatre.org/
JEKYYL AND HYDE
September 29, 2010 - October 31, 2010

An evocative tale of the epic battle between good and evil, this classic story is about a doctor whose experiments with human personality create a murderous counterpart.


ANNIE
November 23, 2010 - January 16, 2011
Leapin' Lizards! The popular comic strip heroine takes center stage in one of the world's best-loved musicals.


LAST 5 YEARS
February 9, 2011 - February 27, 2011
A twist in time and a boldly contemporary score give fresh perspective to the classic boy-meets-girl tale in this bittersweet musical.


TOMMY
March 30, 2011 - May 22, 2011

Peter Townsend's tale of a young boy's journey from pain to triumph is the most electrifying evening of rock and roll ever to play in a theatre!

CHILDREN'S SERIES SHOWS:

HANSEL AND GRETEL
October 8, 2010 - October 30, 2010


SNOW WHITE
April 9, 2011 - April 30, 2011


ROBIN HOOD
June 4, 2011 - June 25, 2011

Jazz by Night Celebration in Media - Saturday, October 16th

Jazz By Night Celebration will be held in 13 indoor restaurant venues in downtown Media and features a  variety of acts that perform genuine Jazz - from Traditional and Classic to BeBop and Hard Swing, and from Avant-Guard to NuJazz.  This year’s event showcases “The Women of Jazz”.

STATE STREET, MEDIA
7:30 PM to 1:00 AM
RAIN OR SHINE
FREE PARKING!
To order advance tickets ($10) go to: https://ssl.craftech.com/forms/media/statestreetblues/
(Tickets are $15 on the day of the event.)

Denise King Quartet @ Iron Hill Brewery (9:30)

Monnette Sudler Band @ Sligo (9:30)

Melissa Martin Trio @ Plumstead Inn (8:15)

Phyllis Chapell Duo @ Margaret Kuo's (8:00)**

Lynn Riley & The World Mix @ 7 Stones Café (8:15)*

Bootsie Barnes Quartet @ Azie Global (9:00)

SoulFuego @ Joclyn's Deck Bar (9:00)

Hot Club of Philadelphia @ Picasso (9:30)

Dave Wilson Quartet @ Stephen's on State (9:15)

Georgie Bonds Band @ John's Grille (8:00)

Mike Kennedy Quartet @ Towne House Forge Room (8:00)

Brad Litwin Trio @ Coffee Beanery (7:30)*

Bruce Anthony @ Lotus (6:00 - 9:00)*

Eric Stein Duo @ 7 Stones Café (7:00-8:00)*

* All-Ages Stages

** Dinner Seating Only, All-Ages

Friday, October 1, 2010

Branka Doych - "October Real Estate Update"




Here is a link to my "October Real Estate Update":
http://realtytimes.com/143/BrankaDoych
This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.
This month's issue includes topics such as:







Plus a roundup of September real estate activity as well as much more advice and information.
I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

**FREE** GIANT FALL FLEA MARKET at DCCC this Sunday 10/3

Over 150 flea marketers will gather at the Delaware County Community College campus this Sunday, October 3rd from 9 am to 4 pm at the Town Talk Newspaper's Annual Fall Flea Market and Tailgate Sale! There will be tons of items of all kinds for sale at bargain prices.  A variety of food and refreshments will be provided by the Rose Tree Media Optimist Club with proceeds benefiting their programs for youth. Town Talk will collect non-perishable food items to donate to the Loaves and Fishes Food Pantry.
Rain or shine. FREE PARKING & NO ADMISSION!

WHERE?:  Delaware County Community College
                  901 Media Line Rd  (just off Rt 252 btwn Media & Newtown Sq.)
                  Media, PA 19063
For information or to sign up as a dealer ($40), call TownTalk at
                  610-583-4432 ext. 102