Havertown, PA

Last week, I had the opportunity to attend the 2010 International Builders' Show in Las Vegas Nevada.

With over 1000 exhibitors and 175 educational programs this is the largest industry gathering in the states and an incredible gathering of expertise for the home building industry. It was a chance to see the latest and most innovative products on the market and get a better feel for the directions now coursing through the industry.

Several important trends quickly became clear as you perused both the booths and the education courses during the show. Throughout all offerings, everything is becoming more green. Almost all producers are trying to use less and consume less of all our natural resources. There is an increased emphasis on building communities and homes that have easier access to public transportation options and shorter commutes to work and shopping. And everyone is trying to reduce costs both for the products themselves and the resources used throughout their life-cycles.

In addition, across all demographics, there is a renewed emphasis on quality. As priorities have shifted, demand is growing for "smaller" homes. Buyers are not necessarily trying to downsizing per se, but they want efficient use of space. Average home sizes throughout the country have been shrinking while often losing the high ceilings and unused space. At the same time within these properties, few are giving up the newest amenities with homeowners still demanding the best, the newest, the most efficient, and the most renewable products throughout their properties.

In the coming months, I will continue to provide more details coming from the show as it impacts our local communities and building industry. It is going to be an interesting year to watch these new developments flow through the industry.

As always, if you have any questions or need any additional information, never hesitate to contact me anytime.

David Henke
Long & Foster Real Estate Inc - Newtown Square,PA/Bear, DE
Office: 610-353-1199/Direct: 610-359-3853/Cell: 610-618-0808
www.DelawareCountyPennsylvaniaHomes.com

Pennsylvania homebuyers can once again benefit from additional funds being made available by the PA Housing Finance Agency (PHFA). The Tax Credit Advance Loan Program (TCA) allows loans of up to $6,000 for first-time homebuyers and homebuyers who want to upgrade. 2010 Homebuyers will get a zero percent interest loan if they repay the loan by June 2011.

TCA Eligibility highlights:

• Available to buyers getting a PHFA first mortgage and who close on their loans by June 30, 2010 (and entered into a sales contract by April 30, 2010).

• First-time homebuyers are eligible for the lesser of 10% of the purchase price OR $6,000 for newly constructed homes, $5,000 for existing homes

• Non first-time homebuyers are eligible for the lesser of 10% of the purchase price OR $4,000 for newly constructed homes, $3,000 for existing homes

• For first time homebuyers, all occupants may not have had an ownership interest in their primary residence in the last three years, nor may they have a present interest in any other real estate, except for a business property if the business is that person's primary source of income.

• TCA's minimum loan amount is $500.

• Through TCA, PHFA will make a zero percent (interest free) loan to the homebuyer at the time of closing.

• TCA cannot be combined with PHFA closing cost and downpayment assistance programs (Keystone Assistance Loan, HOMEstead, or Access Downpayment and Closing Cost Assistance Programs).

• The homebuyer is responsible for claiming the Federal Tax Credit when filing federal income taxes for 2009 or 2010 and for using their refund to repay the advance to PHFA.

• TCA is a soft second loan with no interest if it is repaid in full by the following deadlines (regardless of the borrower's tax liability, when the borrower's taxes are filed, or whether the borrower seeks an extension for filing).

• Loans closed in 2009 are due to be paid back to PHFA by June 30, 2010, If the advance is not repaid by June 30, 2010, the loan will immediately begin to amortize over a 10 year period at the same interest rate as the first mortgage. This pertains to both first-time and non first-time homebuyers.

• Loans closed in 2010 are due to be paid back to PHFA by June 30, 2011.

For extensive details go to the Tax Credit Advance Loan Program link above.

If you live in Delaware County, and make less than $48,000 you could have your income tax returns prepared for free.

Congressman Joe Sestak's District Office in Media, PA will be partnering with PathwaysPA, a non-profit organization, to offer free income tax return preparation. As part of the Volunteer Income Tax Assistance (VITA) program, volunteers from PathwaysPA will be visiting the Congressman's office on Thursday, February 4^th and Tuesday, March 16^th.

The appointments will last about 30-45 minutes and there are 28 available on each date (2/4 and 3/16) from 9:30 AM to 4:30 PM. The slots are available on a first-come, first-serve basis, and to qualify for VITA, your yearly income must be less than $48,000.

To reserve a spot an appointment, please contact Chip Ridewood in Congressman Sestak's District Office at (610) 892-8623. You can also contact the IRS at (800) 829-1040 to locate other VITA sites.

So how does the Havertown PA real estate market look these days? Currently Havertown has a average active listing price of $337,226. The Delaware county average currently is $341,180. Averaging is tallying all the prices then dividing by the number of houses.

The current number of properties on the market in Havertown is 114. The median listing price is $299,916. The median is the middle number when you list all the prices.

For Delaware County real estate the total listings are 9,297 and a median listing price of $195,417. This compares to Pennsylvania real estate data, which this week shows a total number of listing properties as 68,127 with a median listing price of $198,583

A client bought a new home and the realtor wanted to send flowers for the occasion.
They arrived at the home and the owner read the card; it said "Rest in Peace".

The owner was angry and called the florist to complain. After he had told the florist of the obvious mistake and how angry he was, the florist said. "Sir, I'm really sorry for the mistake, but rather than getting angry you should imagine this: somewhere there is a funeral taking place today, and they have flowers with a note saying, "Congratulations on your new home"!