Archive for March, 2013

Happy Easter 2013!

March 31, 2013

Happy Easter 2013!

DSCN9821

Pause. Relax. Enjoy the Day!

David Henke
Long & Foster Real Estate Inc – Devon, PA/Wilmington, DE
Office: 610-225-7400/Direct: 610-618-0808
www.DelawarePAHomes.com

Riddlewood Home Sale Market Report – Media PA 19063

March 28, 2013

Riddlewood continues to be one of the most popular and stable communities in the Media 19063 area.

IMG_0639Originally developed in the 1950’s, Riddlewood is named after the former property owner and racehorse owner Samuel D Riddle. The Riddle family operated a mill in the area and Glen Riddle was named by his father. He was an avid and successful horseman with large horse farms in Maryland and Kentucky. Most of the streets within the community were named for his most successful race horses. On his death he donated 72 acres of land and $2.5 million to provide a hospital to the Media PA community – today’s Riddle Memorial Hospital which is located on the south side of Baltimore Pike across from the Granite Run Mall and adjacent to Riddlewood.

The 218 acre site of Riddlewood was obtained from the Riddle estate and developed by the Arters Brothers and architect George Hay. IMG_0636Construction on the site began as early as 1950, but the tax records show that the bulk of the residential construction was finished between 1954 and 1956. Some homes continued to be finished through 1960. The development sits on the east side of Route 452 (South Pennell Rd) on the south side of Baltimore Pike / Route 1 across from the Granite Run Mall. This spot affords easy access to most of Delaware County as well as the Philadelphia Airport, Philadelphia, and Wilmington DE.

Today there are over 290 homes in the community ranging in size from under 1000 sqft to almost 3000 sqft. Homes varied from 2 to 5 bedrooms, but most were 3 bedroom properties in various styles including ranches/ranchettes, split level homes, and capes. They were most commonly about 1500 sqft. There were a wide variety of lot sizes based on the layout and terrain but the most common were just under 1/2 acre at about 20,000 sqft. Riddlewod PA HomesThe Riddlewood Swim Club was developed on 10 acres along the southern portion of the site and opened in 1957.

Like most communities in the area, Riddlewood saw increasing home sales activity and prices through 2007, Average sales prices rose from less than $200,000 in 2001 to a top average price of $341,000 in 2007 with 12 sales. Since then prices have eased but generally have remained much more stable than seen in many area communities. Average yearly Riddlewood prices have fluctuated between a low of $275,000 in 2011 to a high of $320,000 in 2009. Last year, 2012, there were 7 home sales with an average sales price of $295,000 and individual sales prices ranging from $223,000 to $335,000. This year, there has been one home sale for $270,000, three properties are under contract listed for an average of $314,000, and there are three properties currently available with an average asking price of $294,000.

With its great location, relatively stable pricing, low turnover, spacious lots, variety of housing, and great ammenities, Riddlewood should remain a top choice in the area for years to come. Should you need any additional information, please do not hesitate to contact me.

David Henke
Long & Foster Real Estate Inc – Devon, PA/Wilmington, DE
Office: 610-225-7400/Direct: 610-618-0808
www.DelawarePAHomes.com

(All statistics per the TrendMLS System and believed accurate but not guaranteed)

Stonewold Greenville DE Homes Market Update

March 15, 2013

Stonewold home pricing has now stablized and remains one of the top home choices in the Greenville area.

Stonewold Greenville DESince my last market update in October 2010, Stonewold home prices and sales activity have both softened. In 2010, while average prices held up at $751,000, there were only 3 sales with an average of 87 days on the market. Individually home prices ranged from $710,000 to $820,000.

Stonewold home prices then fell in both 2011 and 2012. In 2011, 3 homes sold for an average price of $678,000. Stonewold Homes Wilmington DEIn 2012, the prices eased further to an average price of $651,000, but the sales pace began to recover with 7 sales for the year. In both years, prices ranged from $550,000 to $775,000.

This year to date there has been one completed sale for $750,000. In addition, there are two sales pending that were listed for an average price of $614,000. There are also 3 homes currently on the market with an average asking price of $696,000 and individually ranging from $649,000 to $759,000. At this point it again appears that prices will remain in the mid to high $600,000 range.

Although prices are down from their peak, it appears that they are now stabilizing and volume is supporting these price levels. With its great location and competitive pricing, Stonewold should continue to be a top choice in the area for years. For more complete background information on the community, be sure to check out my earlier Stonewold update here.

David Henke
Long & Foster Real Estate Inc – Wilmington, DE/Devon, PA
Office: 302-834-3431/Direct: 610-618-0808
www.DelawarePAHomes.com

(All statistics per the TrendMLS System and believed accurate but not guaranteed)

Rose Tree Estates Home Sale Market Report – Upper Providence Media PA

March 12, 2013

In Media PA, Rose Tree Estates continues to be a popular home choice with prices stabilizing below their peak.

Rose Tree Estates Media PAJust off State Rd south of the Media ByPass in Upper Providence Township, Rose Tree Estates is a conveniently located newer Toll Brothers built community. Per the tax records, construction began in 1993 and continued through 1998. The community today has just over 90 homes on approximatley 1/3 acre lots. Most properties are 4 bedroom Colonials with a few larger 5 bedroom properties. Square footage ranges from just under 3000 sqft to over 5000 sqft with most homes close to 4000 sqft.

This location affords immediate access to Route 1 / the Media Bypass, and is just one exit west of the Blue Route, I-476 and one exit east of Route 252. Downtown Media is just a few minutes away directly down State Rd. Rose Tree Estates PA HomesThese roads provide easy commutes throughout Delaware County and great connections to the Philadelphia Airport, West Chester, Wilmington DE, and downtown Philadelphia. SEPTA serves Media with bus, trolley service, and regional rail providing access throughout the county and into Philadelphia. You also have multiple eating and entertainment options both in Media and the surrounding areas.

From an average price below $500,000 in 2002, average Rose Tree Estates home prices rose to over $700,000 in 2004. From 2005 through 2007, the average home sale prices stabilized between $700,000 and $750,000 with 3 or 4 home sales per year. Individual prices ranged from $659,000 to a high of $799,000. In 2008/2009 average prices fell to $628,000 and $630,000 with 3 sales each year. Prices hit a low in 2010 with one sale for $455,000.

Rose Tree Estates Toll Brothers Media PAIn 2011, average prices bounced back with 3 sales averaging $656,000. In 2012, Rose Tree estate prices eased again with two sales averaging $556,000. In 2013 year to date there have been no sales in the community and there is currently only one property on the market with an asking price of $599,000 (4BR/3.5BA with just over 3,000 sqft)

With its ideal location, easy access, newer construction, and reasonable pricing, Rose Tree Estates should continue to be a popular home option for anyone looking for a home in the lower Delaware County, Upper Providence, or Media areas.

As always, if you have any questions or are looking to buy or sell in Rose Tree Estates, Media, or the surrounding areas, do not hesitate to contact me anytime. For immediate access to all the currently active listings in the area feel free to visit SearchMediaHomes.com

David Henke
Long & Foster Real Estate Inc – Devon, PA/Wilmington, DE
Office: 610-225-7400/Direct: 610-618-0808
www.DelawarePAHomes.com

(All statistics per the TrendMLS System and believed accurate but not guaranteed)

Remember The Time Change

March 10, 2013

Remember to change your clocks!

Swarthmore PA Town Clock

2013 Time Change

It doesn’t seem that this should make a difference in the real estate market, but it does. This is the time to get your property on the market. Buyers have the time and light to now look at homes during the week. Be sure to take advantage of this opportunity before everyone else does. If you need to find out how much your home is worth today, call me now!

David Henke
Long & Foster Real Estate Inc – Devon, PA/Wilmington, DE
Office: 610-225-7400/Direct: 610-618-0808
www.DelawarePAHomes.com

Wilmington DE March Sunday Museum Bargains

March 6, 2013

Great inexpensive Sunday outings still available in Wilmington DE this March.

Hagley 2013 Dollar DaysJust a reminder that two great local museums continue to offer Sunday bargains. Currently the Hagley Museum and Library is offering Dollar Days on Sundays. Through March 24, admission is only $1 per person. The museum is open from 9:30 to 4:30 each Sunday. Visitors will be able to visit and tour the entire facility including the Steam Engine house, Eleutherian Mills, Machine Shop and the ancestral home. The cafe will feature several $1 items. It is a great way to get out, avoid the seasonal crowds, and see the local sites.

Delaware Art Museum WIlmington DEThe Delaware Art Museum is also offering free Admission on Sundays. Thanks to the continuing support of the Jesse Ball duPont Fund, the admission fee is waived. The Museum is open from noon to 4PM every Sunday. The museum offers a broad range of exhibits, tours, and special events throughout the year and is a great winter break.

As always, be sure to take some time and enjoy more of what the area has to offer.

David Henke
Long & Foster Real Estate Inc – Wilmington, DE/Devon, PA
Office: 302-834-3431/Direct: 610-618-0808
www.DelawarePAHomes.com

Yes – It Is a Good Time to Move! – New 30 Year Mortgage Interest Rate Chart

March 2, 2013

Rates continue to remain at historic lows. Buyers and Sellers should take this opportunity to profit while these rates continue.

A picture is worth a thousand words:

.

30 Year Fixed Mortgage Rate Chart

(Thank you to Tracie Baichi of Prosperity Mortgage for the updated chart)

This is a great time to move. Prices have fallen but have generally now stabilized or begun to rise. Homes under contract continue to rise at a rate better than seen in 2012. The number of homes sold continue to rise. The statistics are pointing to a continued stengthening of the overall market. If this continues, both prices and interest rates could rise.

if you are looking to buy or sell in the three county area of Chester County, Delaware County, or New Castle County, you should be taking advantage of these rates now. If you have any questions or need any additional information, please do not hesitate to contact me anytime. To search properties by zip code in the Delaware County or Chester County areas go to www.SearchMediaHomes.com .

David Henke
Long & Foster Real Estate Inc – Devon, PA/Wilmington, DE
Office: 610-225-7400/Direct: 610-618-0808
www.DelawarePAHomes.com

(All statistics per the TrendMLS System and believed accurate but not guaranteed)

Delaware County PA Home Sales Activity Update

March 1, 2013

Initial 2013 Delaware County PA home sales activity indicates a stronger area market.

It usually takes another week or so to have the accurate home sales statistics but the initial numbers indicate a stronger 2013.

Through February for all Delaware County we are seeing:

Active Listings On the Market: 2894 homes (down 23% from 2012)
Homes Under Contract: 724 homes ( up 9% from 2012)
Homes Sold Year to Date: 478 homes (up 18% from 2012)

Media PA Lawyers Row Offices

After several years of a relaxed market, we are finally seeing some stronger signs of activity. Listings are declining both here and in surrounding counties***. Homes under contract are rising nicely and sales are following. This bodes well for pricing and sales as we enter the next two months which are traditionally the most active months for both new listings and homes going under contract. (Settlements usually peak in June and August)

These numbers will be updated once we have the final month end sales figures and pricing through February. For all the current Delaware County Listings feel free to search SearchMediaHomes.com .

*** The above compares to activity in Chester County:
Active: 2700 (-18%)
Under Contract: 817 (+25%)
Sold: 579 (+8%)

and activity in New Castle County Delaware:
Active: 2089 (-23%)
Under Contract: 838 (+7%)
Sold: 601 (0%)

David Henke
Long & Foster Real Estate Inc – Devon, PA/Wilmington, DE
Office: 610-225-7400/Direct: 610-618-0808
www.DelawarePAHomes.com

(All statistics per the TrendMLS System and believed accurate but not guaranteed)