Friday, January 30, 2009

Cost V. Value Report 2008-2009

According to Remodeling magazine's 2008-2009 "Cost vs. Value Report," even despite the challenging economy, investing in your home still pays off at resale. Based on interviews with real estate professionals throughout the country, the Remodeling report found that homeowners could expect to recoup an average of 67.3 percent of their investment in 30 different home improvement projects.

Exterior projects that boost curb appeal and kitchen remodels generally get the biggest bang for the homeowner's buck. The right remodeling project, when done well, also has the potential to make for a quicker sale and reduce negotiations with buyers over perceived shortcomings.

Some of the projects that are paying off the most nationally this year at resale include the following. The number in parentheses represents the percentage of the project's cost that is recovered.

Upscale fiber cement siding (86.7 percent)
Midrange wood deck (81.8 percent)
Midrange vinyl siding (80.7 percent)
Midrange minor kitchen remodel (79.5 percent)
Upscale vinyl window replacement (79.2 percent)
Midrange major kitchen remodel (76 percent)


Go to http://www.remodeling.hw.net/2008/costvsvalue/national.aspx to access the "Cost vs. Value" Web site, where you can download data for 80 cities.

NEWS UPDATE: Week of February 2, 2009

GENERAL INFORMATION



Economic Bill Stimulus Update

The United States House of Representatives passed, HR 1, the American Recovery and Reinvestment Act of 2009. The economic stimulus bill, as the legislation is more commonly known, contains a number of key provisions for REALTORS. The House has also addressed a number of housing issues in legislation revamping the Trouble Asset Relief Program. These actions represent the first phase of enacting the Housing Stimulus Plan approved by NAR members at the annual meeting in Orlando . While we have succeeded in passing the first test, we have an uphill climb to enact these provisions in the legislation that will be considered in the United States Senate. Once the Senate passes a measure the differences with the House version will be worked out in a conference committee. We will keep you informed as things progress. To keep up to date with the latest news from Washington visit NAR’s summary of the issue.



March deadline approaches for Homestead tax reduction

Pennsylvania residents have until March 2 to file an application to share in this year’s tax reduction, made possible by revenue from Pennsylvania casinos. The amount of rebate varies according to the school district, but Pennsylvania ’s healthy slots proceeds could mean bigger checks than last year for homeowners. Last year, the state estimated the average tax bill would be cut by 10 percent, or about $169. The one-page applications are available on the county board of assessment websites listed below:

Bucks County Board of Assessment

Chester County Department of Assessment
Delaware County Board of Assessment

Montgomery County Board of Assessment

Source: The Intelligencer; 1/27/09






BUCKS COUNTY



Energy assistance available for Bucks residents

The United Way of Bucks County , the Pennsylvania Public Utilities Commission and the Lower Bucks Chamber of Commerce have joined forces to offer help to Bucks County residents who struggle to pay their bills. A consumer education event was held at Bucks County Community College, hosted by Sens Chuck McIlhinney, (R-10) and Tommy Tomlinson, (R-6) last week that provided answers to those asking “Is there any help?” The event provided residents with literature on low-income assistance and tips to lower energy costs. A panel discussion included representatives from the Pennsylvania Department of Public Welfare, the Bucks County Office of Consumer Protection, the Bucks County Opportunity Council, Keystone HELP, the Office of the Consumer Advocate and PECO Energy. For more information on the assistance program, go to the Pennsylvania Public Utilities Commission website at: http://www.puc.state.pa.us/

Source: The Burlington County Times ; 1/24/09



Local schools set to receive boost from stimulus spending

The $819 billion spending plan passed by the House of Representatives earlier this week could have a significant impact on local schools as $150 billion is slated for federal education spending. Earl Bruck, president of the Bristol Township School Board said that school taxes will be “significantly reduced” because of the additional funding. Bristol Township schools will receive $3.2 million in 2009 and up to $5 million more over the next two years as part of the plan, as announced by Congressman Patrick Murphy at Harry S. Truman High School . Among other local districts receiving stimulus funds include: Central Bucks ($4.7 million); Bensalem ($4.5 million); and North Penn ($4.2 million).

Source: The Intelligencer; 1/30/09



Upper Makefield preserves open space with help from Heritage Conservancy

Two conservation easements were purchased by Upper Makefield last month with the help of the nonprofit Heritage Conservancy. The township bought the development rights to 73 acres along Windy Bush Road for $1 million and spent $185,000 on 32 acres along Eagle Road . Township manager Stephanie Teoli estimates that the township has spent nearly $30 million on open space since residents first passed a bond issue in 1996. Nearly 34 percent of the 21.5 square mile township has been preserved.

Source: The Intelligencer; 1/25/09







CHESTER COUNTY



Call to Action: Birmingham sign ordinance

Currently, Birmingham Township of Chester County has a permit requirement for all open house and directional signs. REALTORS must apply for a $50 permit application fee, good for only 10 days through the Birmingham Police Department. While many of the 238 municipalities in Southeastern Pennsylvania have adopted sign ordinances which limit how you display open house directional and for sale signs, Birmingham Township is one of the few that requires a permit. Several REALTORS have expressed concern with the current ordinance.

REALTORS are encouraged to provide feedback to Birmingham Township relating to the sign ordinance by responding to this Call to Action. In addition, REALTORS are encouraged to attend the Birmingham Township Meeting on Monday, February 2, at 7:30 p.m. to discuss this issue with township officials. The meeting will take place at the Birmingham Municipal Building ( 1040 West Street Road, West Chester , PA 19382 ). Click here to log in and send your message.



Coatesville arsons receive attention from county

A multi-alarm fire that destroyed 15 homes last weekend and left 11 families homeless triggered Coatesville city officials to declare a state of emergency. At Tuesday's work session, county commissioners expressed sympathy for the fire victims and vowed to help in any way possible. Chester County is adding $5,000 to a reward fund set up to catch whoever is responsible for setting the Coatesville fires. The commissioners also declared a countywide disaster emergency due to the continuing problem of suspicious fires in the city. The declaration says that for more than 18 months a series of suspicious fires has caused the loss of life and property. The suspicious fires are continuing with increasing frequency and have endangered and threaten to endanger the health, safety and welfare of a substantial number of people residing in the city.

Source: Daily Local; 1/28/09





DELAWARE COUNTY



Concord Supervisors repeal tax and adjust real estate taxes slightly

Supervisors voted unanimously to repeal a tax that required homeowners in the township to pay $5 for every adult who lived in the household. Supervisors will compensate for the elimination of the adult per-capita tax by adjusting the real-estate taxes. The rate for 2009 will be 0.925 mills, compared to last year’s rate of 0.895 mills. The owner of the average house in the township assessed at $375,000 can expect to pay approximately $347.

Source: Daily Times; 1/19/09



PennFuture to hold Watershed Workshop

The sixth annual PennFuture Watershed Workshop will be held from 8:30 a.m.-4 p.m., April 25 at the Brandywine River Museum on Route 1 in Chadds Ford. This workshop will offer grassroots watershed groups, conservancies, municipal government officials, and volunteers insight to make a strategic difference in water quality protection. Leading environmental professionals and attorneys will discuss the legal tools available to address local storm water and wastewater management, and learn more effective ways to participate in the decision-making process. The workshop is free to PennFuture members; $10 for nonmembers. A light breakfast, lunch and all materials are included. Space is limited and registration is required by April 17. Register online or by calling 717-214-7920.



New zoning district in Edgemont

Edgemont Supervisors approved the creation of a new zoning district that exemplifies the village concept. The zoning ordinance amendment expands the C1 Commercial District and now includes “neighborhood shopping centers.” Chairman Ron Gravina noted the county planning department had favorably commented that this inclusion represented the “forefront of traditional town planning.”

Source: Daily Times; 1/27/09



Colwyn appoints administrator

A new supervisor will be assisting with Colwyn’s day-to-day operations. Benjamin Brockington took over as borough administrator on January 12.

Source: Daily Local; 1/28/09






MONTGOMERY COUNTY



Commissioners set aside $4 million for farmland preservation

Although $2 million less than what was allocated last year, Montgomery County commissioners have set aside $4 million for the farmland preservation board for 2009. Last year, the county received $2.8 million from the state for preservation, but it is undetermined how much it will receive this year. To date, Montgomery County has 116 farms totaling 7,533 acres since the program began in 1989. The county’s share of these purchases has totaled $26.1 million.
Source: The Intelligencer; 1/25/09



North Penn faces 1 mill tax hike

Preliminary figures indicate that North Penn School District faces a budget shortfall for the 2009-2010 with an initial budget of $206.5 million, about $10 million or 5 percent more than the current budget. If adopted on Feb. 10, the budget would require a tax hike of 1 mill, translating into an additional $136 in taxes for the average homeowner in the district.

Source: The Intelligencer; 1/28/09



Upper Moreland faces 11 percent tax hike

A $53.4 million preliminary budget was approved by the Upper Moreland School Board this week, which includes an 11 percent property tax increase for residents. The proposed millage rate increased from 23.99 to 26.68, more than the 4.1 percent increase allowed under Pennsylvania ’s Act 1 legislation. If approved by voters, the increase would translate into a $346 real estate tax increase for residents with property assessed at the district’s average of $128,855.

Source: The Intelligencer; 1/28/09

Monday, January 26, 2009

Weichert Insights: News You Can Use

Valuable information for sellers.

Nowadays, people tend to have a lot of personal belongings, making the amount of storage space in a home a priority for many buyers. Older homes and condominiums, in particular, tend to have less storage space than some of the newer, larger homes.

Sellers can maximize their home's appeal by organizing and purging their belongings -- all while giving them a head start on packing for their move. Consider these tips to make sure sparse storage isn't the first thing buyers notice:

Stick to the basics: Prospective buyers should look inside closets and think that there will be plenty of room for all of their belongings. To avoid a packed closet, remove anything that is not used regularly, such as out-of-season clothing and formal wear. Pack these items up in labeled boxes and store them neatly under the bed, or in the attic, garage or basement.

Details matter: Think of your closets the same way you would any other room in your house. According to experts, painting the inside of closets a bright, neutral color and installing adequate lighting can make a great impression. In addition, use consistently sized and shaped hangers, and group similar clothing items together and facing the same direction.

Show functional options: If you have rooms in your house that have little or no storage space, make up for it by being creative. For example, if you have attractive pots, hang them on a pot rack. Utilize an under-bed trundle or a toy chest that can double as a bench or table in a children's bedroom or playroom, rather than clutter the closet or floor with toys.

Stay tuned for more tips on buying or selling your home!

Existing Home Sales Make Surprising Jump

Good news! There is new evidence that the housing market is improving. Today, the National Association of Realtors (NAR) reported that existing-home sales posted an unexpected increase in December as buyers responded to improved affordability.

According to NAR, sales of existing homes increased 6.5 percent in December compared to November. In addition, the inventory of unsold homes fell nearly 12 percent to a 9.3-month supply, another encouraging sign.

NEWS UPDATE: Week of JANUARY 26, 2009

GENERAL

Sprawl to crawl on Route 422

With Route 422 at the center of one of the fastest-growing corridors in Southeastern Pennsylvania , land planners and traffic experts warn that without a drastic change in development and commuting habits, even rougher rides are ahead. Planners are soliciting suggestions on ways to smooth out one of the region's toughest commutes. On Feb. 17 and 18, the Delaware Valley Regional Planning Commission will hold open houses in Pottstown and Oaks to solicit input from businesses, municipal officials, community and professional organizations, and anyone else with an opinion of what it would take to improve the Route 422 commuting experience. What the DVRPC gathers from its outreach next month will help shape a $235,000, federally-funded U.S. 422 Corridor Master Plan, which is expected to be complete this summer. The plan will include land-use and transportation recommendations for the 236-square-mile corridor of predominantly single-use, auto-dependent development, which now has few public-transit options. Encompassing 24 municipalities across three counties, the Route 422 corridor is home to an estimated 296,000 residents and 195,000 jobs. With roughly half the land within the corridor still undeveloped, the population is expected to increase 12 percent by 2030, employment by 14 percent. Click here to access the US Route 422 Coalition website for more information.

Source: Philadelphia Inquirer; 1/18/09



Spring-Ford chamber looks at area development

Members of the Spring-Ford Chamber of Commerce gathered recently to gain a better picture of what's happening in their municipalities in the way of development. The inaugural Local Government Series Luncheon, held at Spring-Ford Country Club, featured Spring City Mayor Michael Weiss, Royersford Borough Manager Michael Leonard and Limerick Township Manager Dan Kerr as speakers. Weiss, in his fourth year as mayor of Spring City , a borough of 3,300, said now "is probably the hottest time for Spring City . We have a lot of projects going on." Among the projects are plans for a library as well as an ongoing partnership between Spring City Electrical Manufacturing and Spring-Ford High School that has resulted in new street lamps being installed at the school. A 150-unit housing development is planned on the south side of town that will contribute significantly to Spring City 's tax base. Limerick also has a long-term project at the moment with the possible development of the land adjacent to the Philadelphia Premium Outlets.

Source: The Phoenix ; 1/19/09




BUCKS COUNTY



Water resource planning a hot topic in Bucks

While development and population boomed in the recent past, Bucks County municipalities felt the pinch of water supply and infrastructure services. With the recent slowdown in development, officials across the county are acknowledging the opportunity to prepare for future needs and discuss regional water resource planning. In that vein, the Quakertown Area Planning Committee (QAPC), comprised of officials from six municipalities and the school district, has already discussed regional planning, and may consider projects to safeguard drinking water supplies, wetlands and flood plains, and limit future growth based on water availability. The problem facing QAPC and other similar groups is finding the money for the projects. Grant money is available, such as the state’s Growing Greener environmental investment program, but contributions from the participating municipalities will likely be required.

Source: The Intelligencer; 1/20/09



Doylestown supervisors seek traffic study

Three new development proposals are slated for properties surrounding the intersection of routes 263 and 313 in Doylestown, prompting township officials to seek a comprehensive traffic study for the area. Temple Judea leaders plan to build a new two-story synagogue on 8 acres off Rodgers Road , and Philadelphia developer Joe Grasso has proposed a small shopping center on 6 acres of a 17-acre lot at the southwest corner of the intersection. Additionally, Michael Grasso, father of Joe Grasso, plans to build a shopping center in Buckingham, adjacent to the shopping center proposed by his son. Residents of the area have opposed the developments for a variety of reasons, not the least of which is traffic. Supervisors suggest that Temple Judea and the Grasso’s share the cost of the traffic study.
Source: The Intelligencer; 1/22/09



New Hope-Solebury eyes 7.2 percent tax hike

The New Hope-Solebury School Board unveiled its $33.3 million preliminary budget earlier this week, which included a 7.2 percent tax hike. If the budget is passed, the tax hike will have to be approved by district voters, as it exceeds the 4.1 percent cap set by the state under Pennsylvania ’s Act 1 tax reform law. For the average homeowner in the district, a 7.2 percent increase translates into $314 more per year in property taxes.

Source: The Intelligencer; 1/22/09







CHESTER COUNTY



Schuylkill officials update status of plans for Reeves property development

Pohlig Builders’ proposed residential development of the Reeves property was under review again Wednesday by township supervisors. The generally informal session was the last chance for a public review before the board reaches its final decision. Particular attention was given to one of the latest additions to Pohlig’s plans, the use of an easement on recently purchased property at the base of Philip Drive . The easement is for another access way from the central portions of the property to Whitehorse Road , thereby changing what Philip Drive residents had understood for decades to be a permanent cul-de-sac into a throughway. Barring a deadline extension, the supervisors’ decision on the future of Pohlig’s plans must be made by February 4.

Source: Daily Local; 1/21/09



Local ‘Journal Register’ newspapers out of business

The PA8 weekly newspaper group owned by the Journal Register Co. is now the PA3 with the folding of 5 local weekly papers. Four Chester County papers, including the Oxford Tribune, Coatesville Ledger, Parkesburg Press and Downingtown Ledger, ceased publication last week. The closings also end the combined Classified Section that ran in all the PA8 weeklies. It is expected that the weekly closings are just a beginning for the Journal Registry Company and more closings and consolidations are right over the horizon.

Source: Chester County Press ; 1/14/09



Landfill will stay in London Grove

The SECCRA Landfill, located on Mosquito Lane along Route 41 in London Grove Township , will remain and expand there, but at a price. In a joint release issued by the township and the refuse authority on Monday, the two parties announced that the landfill may operate by right in its present location and will pay the township $13 million in host fees and benefits over the projected 12-year life of the expanded waste facility. The township supervisors approved the agreement on Dec. 29, and the SECCRA board approved it on Jan. 14. The planned expansion of the landfill, called the Willa Expansion, calls for lateral expansion south of the existing 80-acre permitted landfill SECCRA now owns bounded by Route 926, Mosquito Lane , Route 41 and Hood Road . The expansion area is 67 acres, of which 37 will be new disposal areas. The remainder will be used to accommodate services and provide buffer space, the press release said.

Source: Avon Grove Sun; 1/21/09




DELAWARE COUNTY



Radnor hosts ‘ Green Building 101’

Radnor Township's Environmental Advisory Council, in cooperation with the Radnor Conservancy and the League of Women Voters of Radnor Township, invites you to attend ' Green Building 101, ' the kick-off meeting of a new “sustainability series” addressing sustainable living and growth in Radnor. The Green Building 101 program will be held on Thursday, January 29, at 7 p.m. at the Radnor Township Administration Building . The program is designed to provide an introduction to green building and will cover topics including defining sustainability and green building; measuring standards and practices for green building; local and state programs to promote green building; and a case study of the Radnor Township School District 's green building success. A copy of the invitation is available for viewing at www.radnor.com or in the office of the Township Secretary during normal business hours.



Ridley schools OK budget measure

The Ridley School Board recently approved a budget resolution under Act 1, which provides that the school district will not increase property taxes in excess of the index set by the state Department of Education for the 2009-10 school year. The school district believes that it will have sufficient funds under the index to balance its 2009-10 budget. Because the board will be keeping any increase under the Act 1 limit of 4.1 percent, the board will not have to pass a preliminary budget until May.

Source: Daily Times; 1/21/09



Springfield sees plans for supermarket, shops

Despite the downturn in the economy, two new commercial building projects are being proposed for the township. The planning board saw a submission from Kimco Realty, owners of the Springfield Shopping Center , for a 66,000-square-foot supermarket to replace Value City . In addition, a 16,000-square-foot building is proposed next to the existing Staples. Gregory Reed, Kimco assistant director of acquisitions and development for the region, sees this as an opportunity for revitalization in Springfield .

Source: Daily Times; 1/19/09



Notice: Norwood Borough to include interior inspections as part of CO inspection

Effective July 2008, Norwood borough expanded its Certificate of Occupancy inspection requirements to include interior inspections. Click here to access the revised inspection checklist and fee schedule. Additional questions, comments or concerns about the new requirements may be directed to the Suburban REALTORS Alliance at sra@suburbanrealtorsalliance.com.







MONTGOMERY COUNTY



County officials pledge hands-off of municipal code enforcement

Montgomery County commissioners have emphasized they have no intention of usurping the legal authority of municipalities to establish their own fire and building codes. They will, however, provide advice, hoping to avoid another conflagration like the one that destroyed two mid-rise apartment buildings in Conshohocken in 2008. County officials are concerned that municipalities may tighten code requirements and enforcement, in which instance the county will provide constructive advice via technical assistance and educational seminars.

Source: The Intelligencer; 1/23/09



Hatboro-Horsham struggles to balance 2009-2010 budget

Early reviews of the Hatboro-Horsham School District budget for next year reveal a $3 million shortfall in the planned $85 million budget. Without spending cuts, the budget would require a millage rate of 24.82 to balance it; the current millage rate is 23.53 mills. The school board has five months to revise the budget to avoid tax hikes or using the district’s reserve funds to make up for the shortfall.

Source: The Intelligencer; 1/21/09



Norristown area officials go with second sewer plan option

A new sewage treatment plan for Norristown , estimated at $149.4 million, will be constructed 2,000 feet down river from the current location on a 4-acre site. With four options available from Camp Dresser & McKee (CDM) engineers, Norristown, West Norriton and county officials decided on the option “Alternate 2.” Moving the site will free up a lot of space on the waterfront and for Norristown , which could prove vital to local revitalization efforts. The other options include upgrades and a possible new plant in the area of the Jeffersonville Golf Club in West Norriton .

Source: Times Herald; 1/20/09

Sunday, January 18, 2009

NEWS UPDATE for the week of JANUARY 19, 2009

GENERAL



Local congressmen weigh in on economic stimulus package

Each of the congressmen from the Alliance’s four-county territory agrees that President-elect Barack Obama is correct in wanting to quickly enact an economic stimulus package, but they have different ideas about what the package, after it has made its way through Congress, should look like.



· Rep. Jim Gerlach (R-6th) said he's enthusiastic about seeing funding arrive for "shovel-ready" infrastructure projects. One thing he would likely oppose, he said, is using the remaining $350 billion from the 2008 $700 billion financial stimulus for additional bailouts of the financial system.

· Rep. Patrick Murphy (D-8th) wants to ensure bailout accountability. “We have to be a bulldog on our dollars” said Murphy. The U.S. House of representatives attempted Thursday to compel the Federal Reserve to disclose more information about four firms that will administer a key portion of the government’s bailout plan. One of the amendments was courtesy of Murphy.

· Rep. Joe Sestak (D-7th) believes the stimulus package should contain about $750 billion in spending, an amount he said is roughly equal to what the GDP is estimated to lose in 2009 and 2010 if the government doesn't take action. Such a loss, he said, would lead to Depression-level unemployment. Sestak said that because job numbers are likely to get worse before they get better – with or without a stimulus package – unemployment insurance should be a major part of the plan.

· Rep. Joe Pitts (R-16th) was less enthusiastic about infrastructure spending, and cautioned that the government cannot "spend its way to prosperity." He said he would like to see President Bush's 2001 and 2003 upper-class tax cuts made permanent so that the "drivers of the economy — the job creators and investors — face less uncertainty.”

Source: Daily Local; 1/12/09, and The Intelligencer; 1/16/09





BUCKS COUNTY



Quakertown school budget already in the hole for 2009-2010

School board members in Quakertown are scrambling to resolve an initial $4.8 million shortfall in the $84.5 million 2009-2010 proposed budget. The administration is recommending drawing $4.1 million from the district’s reserves, which would put the reserve fund at a $0 balance but give officials time to work on balancing the budget. Under a state-set cap, the district is allowed to increase taxes by 4.1 percent, or 5.14 mills before requiring voter approval. For a home assessed at the district average of $28,000, the tax bill would increase by $148 to $3,762. Officials will continue to work on fixing the shortfall with the preliminary budget up for adoption on Feb. 12.

Source: The Intelligencer; 1/09/09



Central Bucks residents can expect tax increase

The Central Bucks School District ’s preliminary budget of $279.8 million for 2009-2010 represents a 4.67 percent increase over the current spending plan. As a result, officials expect to increase taxes at or below the state’s Act 1 limit of 4.1 percent, which would add approximately 4.5 mills to the current rate of 110.5 mills. If taxes are increased by 4.5 mills, the average homeowner in the district could expect a property tax increase of about $180.

Source: The Intelligencer; 1/14/09



Haycock taxes increased for first time in 47 years

Residents of Haycock Township will see their tax rate jump from 1.5 to 2.5 mills in 2009 – the first time the township has increased property taxes since 1962. The average homeowner in haycock will pay about $75 instead of $37.50 in 2009.

Source: The Intelligencer; 1/15/09



Quakertown officials lobby for rail line funding

Quakertown Borough officials have drafted letters to Sens. Arlen Specter (R) and Robert Casey (D) as well as U.S. Rep. Patrick Murphy (D-8th) about the need to restore passenger rail service between Quakertown and Lansdale . With the incoming Obama administration pushing for an $800 billion economic stimulus and recovery plan that would impact a variety of sectors, borough officials are hopeful that the estimated $115 million local rail project could fit the bill for funding approval. The plan calls for using a 21-mile-long line between a station in the village of Shelly , just north of Quakertown, to Lansdale, where passengers could then transfer trains and continue to Philadelphia .

Source: The Intelligencer; 1/15/09







CHESTER COUNTY



Oxford schools budget includes 5% tax hike

Oxford Area School District has come up with a preliminary budget for the coming school year that shows a 5 percent real estate tax increase, but the school board would like to see another $600,000 cut to bring the tax bite down to 3 percent. The 5 percent tax increase would be enough to fund a $54.6 million budget, while homeowners would pay an additional 1.4 mills in taxes. The new proposed budget is a 3.2 percent increase over the current fiscal year total, but less than the first budget proposal.

Source: Daily Local; 1/16/09



Chester County sells $118 million in bonds

Chester County sold $118 million in bonds this week, refinancing a portion of its overall debt to cut costs and restructure its financial obligations for future capital projects, including open-space preservation. The bond sale was the first municipal sale of the year in the United States , and resulted in a lower interest rate for the county that one official said will produce “huge” savings. The rate, no more than 4.8 percent over the course of the 20-year bond issue, will save the county about $10 million. The bond sale will allow the county to phase in $200 million in capital projects in the next five years, and stabilizes debt service rates that had been variable from past bond issues. The county’s current financing plan contemplates a new bond issue of about $40 million in the second half of 2009. One of the key points that the bond market took into consideration was the county’s Aaa rating from Moody’s Rating Service, one of the strongest of any county in the country. In a statement to the county, Moody’s said “the Aaa rating reflects the county’s solid financial management, sizable and diverse tax base, strong socioeconomic profile, and manageable debt position. The stable outlook reflects Moody’s expectation of continued sound financial performance driven by conservative budgeting practices and timely tax rate increases.”

Source: Daily Local; 1/9/09



Avon Grove school district facing first property tax increase in 5 years

The Avon Grove School District 's streak of five years without a tax increase is likely to end as the district faces falling revenue for 2009-10. A resolution to opt out of the state's accelerated budget approval requirements was delayed recently because it would limit the district to a real estate tax increase of 5.4 percent for the coming school year. For now, the school board is unsure it can balance the budget without finding a half-million dollars more than that increase would produce.

Source: Daily Local; 1/15/09



Downingtown School officials discuss growth options

The Downingtown Area School Board decided Wednesday night to consider relocating some students to the Downingtown Educational Center on a temporary basis until a third middle school is built in order to resolve overcrowding issues. About 1,270 students attend Downingtown Middle School and 1,493 attend Lionville Middle School , according to district spokeswoman Pat McGlone. The desired capacity per building is 1,350 students. The move, if approved, would not come until the fall of 2010. Click here to view a copy of the school district's growth management report.

Source: Daily Local; 1/16/09








DELAWARE COUNTY



REALTOR commentary needed: Norwood interior inspections

Norwood Borough recently expanded its Certificate of Occupancy inspection requirements to include interior inspections. Click here to access the revised inspection checklist and fee schedule. In addition, the Suburban REALTORS Alliance has recently received complaints from real estate professionals working in Norwood Borough relating to the conduct of the borough’s code enforcement office. REALTORS are encouraged to provide written commentary to the borough regarding these changes to John Johnston via fax (484) 494-8403 or email johnejohnston@rcn.com by Monday, January 19. Additional questions or comments may be directed to the Suburban REALTORS Alliance at sra@suburbanrealtorsalliance.com.



Upper Providence sewers on horizon

The reality of public sewers is on the horizon for Upper Providence , with the possibility of construction this year. Township Engineer James Kelly said the Secretary of the Commonwealth is close to signing certification for Upper Providence to become a member of the Central Delaware County Authority (CDCA). Newtown and Edgmont townships are also part of the expanded membership in CDCA, an independent, nonprofit agency that assists 12 other municipalities with the installation and operation of water and sewer service.

Source: Daily Times; 1/12/09



Delaware County sells $30 million bond issue

Delaware County Executive Director Marianne Grace said the county “did very well” on the market Thursday when it sold a $30 million bond issue that will go toward construction costs of a new $115 million Major League Soccer stadium in Chester . Grace attributed the good showing at market to the county’s “AA” rating with Standard and Poor’s Ratings Services and “AA2” rating with Moody’s Investors Service. Both indicate a very strong ability to meet financial commitments. S&P also recently revised its rating outlook on the County’s general obligation bonds from “stable” to “negative,” however, citing a depletion of county reserves and lack of a clearly defined plan to address recent budget imbalances. Grace was not surprised to see the negative outlook, noting the county was able to develop the budget reserves throughout the end of the 1990s and mid-2000s, but was forced to dip into it in order to avoid a tax increase in the 2009 budget.

County property taxes increased in 2008 by 8.42 percent, adding about $49 to the tax bill for the owner of a property assessed at the average $131,000.

Source: Daily Times; 1/16/09









MONTOGMERY COUNTY



Redistricting plan moves forward in Lower Merion

After months of deliberation and controversy, Lower Merion School Board officials have approved a redistricting plan that would bus some students to Harrington High School , despite living within walking-distance of Lower Merion High. Redistricting is needed in Lower Merion because 70 percent of the township’s families live in the heavily settled eastern end near Lower Merion High. The school district defends the plan, arguing that it balances out student population while causing the least amount of disruption for the 2,150 high school students throughout the district. The only possible impediment to implementing the redistricting plan could be 32 complaints filed with the Pennsylvania Department of Education over the last year by residents, alleging that minority communities have been unfairly singled-out. For more details about the district’s plans, please go to: http://www.lmsd.org/

Source: The Philadelphia Inquirer; 1/14/09



Hatboro approves cell tower at athletic site

Hatboro Council voted to approve a 130-foot T-Mobil cellular tower on the same property as Hatboro’s Little League Fields. As part of the agreement, Horsham Township officials would also have to sign off on the project, as the fields are located in the township. If approved, Hatboro would receive $2,000 a month from T-Mobil for the duration of the 5-year lease. Some of the money would be spent to aid in the upkeep of the six fields.
Source: The Intelligencer; 1/14/09



Horsham grants preliminary approval for controversial development

Horsham Township council granted preliminary approval to Orleans Homebuilders for a 40-acre development near Welsh and Mann Roads. The project has been in the planning stages since 2000, but residents have delayed approval by arguing that the planned development’s proximity to the Pennypack Creek presents environmental issues.

Source: The Intelligencer; 1/16/09

Monday, January 12, 2009

Weichert Insights

Winter is officially here. While it is not the traditional "spring market," there are still advantages to selling your home during the winter months.

Sellers who have their homes on the market now, can benefit from the following tips to help make their home stand out in the crowd:

Prove energy efficiency: Prepare a list of all the things you have done to make your home more energy efficient, such as adding insulation in attics and around pipes, or replacing windows. Homebuyers are particularly interested in energy efficiency this time of year.

Shed some light: The winter months can be dreary. Turn on the lights, open the curtains, clean your windows, and even consider temporarily removing window screens to make your home as bright as possible.

Minimize the effects of winter: Outside, you should keep your driveway, walks and steps free of ice and snow, and your gutters clear so icicles do not form. Inside, be sure the floors are clear of any water spots or salt that may have been tracked in.

Show the landscaping: Buyers won't be able to see your landscaping or other outdoor amenities, but you can help them by preparing a diagram of your outdoor spaces. Use photos or landscape design software to show the outdoor features your home offers.
GENERAL

Gov. Rendell designates January as Radon Education Month

January has been designated as “Radon Education Month” by Gov. Rendell, urging all homeowners to have the air in their homes tested for the radioactive gas that can cause lung cancer. Radon detection kits are available at most hardware stores for around $25, and winter is the best time of year to perform the test as homes are closed off to ventilation. The Environmental Protection Agency (EPA) recommends taking action to lower the level of radon in your home if a test finds the level is 4.0 picocuries per liter or higher. While the potential for radon pollution may be higher in some areas of the state, any home can contain radon. About 40 percent of homes in Pennsylvania are suspected of containing the gas in unsafe levels, according to the Pennsylvania Department of Environmental Protection. Homeowners are not obligated to test for radon, but any tests performed must be revealed at the time of a home’s sale, in accordance with federal law. For more information, including a list of radon mitigation companies, log onto www.depweb.state.pa.us, keyword “Radon.”
Source: The Mercury; 1/05/09






BUCKS COUNTY



Springfield taxes remain at 3.5 mils

Supervisors in Springfield Township announced that the property tax rate for homeowners will remain at 3.5 mills. The last time property taxes were increased was 2005 and rather than increase taxes for 2009, supervisors opted to eliminate the township’s part-time building and zoning code position and the police secretary. In addition to the layoffs, wages for the remaining 11 employees are frozen for 2009. The budget was set at $1.6 million with homeowners continuing to pay an average of $132 in property taxes.

Source: The Intelligencer; 1/05/09



Bridgeton trims budget, maintains property taxes

Residents of Bridgeton Township will continue to pay 3 mills in property taxes in 2009 as the supervisors passed the budget set at $303,750. The budget was cut by over $80,000 from 2008 as the 1,400-resident township was hit hard by a drop in real estate transfer and earned income taxes. The average homeowner will continue to pay $78.65 in property taxes for a home assessed at $26,617.

Source: The Intelligencer; 1/05/09



Palisades approves preliminary budget; taxes will go up

Faced with a $268,000 drop in revenue for the 2009-2010 school year, officials of Palisades School District have announced their intention to increase school property taxes. The current tax rate is set at 100 mills, but the district is expecting an exception from the state to be able to raise its taxes to 105.616 mills, resulting in a $191 tax increase for the average homeowner. Board members will look to resolve budget issues and adopt the final budget by June 30.
Source: The Intelligencer; 1/08/09



Quakertown school district faces shortfall

Officials of the Quakertown School District are facing an estimated $4.8 million shortfall in the 2009-2010 budget, which is preliminarily set at $87.9 million. This year’s budget is approximately 4 percent higher than the current $84.5 million budget. The district will likely increase taxes as much as 5.14 mills, resulting in a $148 tax increase for the average homeowner with a house assessed at $28,800. Officials will continue to work on the plan with a preliminary budget up for adoption on Feb. 12.

Source: The Intelligencer; 1/09/09





CHESTER COUNTY



Kennett Borough considers water options

Kennett Square’s Council opened 2009 with several discussions about the borough’s water supply. In the wake of plans for digging a new well on the Yeatman property at Walnut and Rosedale roads, Borough Manager Brant Kucera announced that he had obtained an application for a state grant that would potentially fund 50 percent of the project. The project is expected to cost approximately $1.2 million, and obtaining the grant would make the borough's share about $700,000. The board also approved interviewing Aqua America, which could potentially take over the borough’s entire water system, including mending pipes and responding to emergencies.

Source: Kennett Paper; 1/6/09



North Coventry approves tax hike

North Coventry township supervisors have approved a 2009 budget that raises the property tax millage rate by .2 mills. The property tax hike is the first the township has levied in 10 years. The median homeowner with a house assessed at $148,000 currently pays $210 a year in township property taxes. Under the new budget, the tax will rise by about $30 to $240. Supervisor Chairman Andrew Paravis said the tax hike was necessary to avoid a $130,000 budget deficit for 2009 that would have required the township to tap into its fund balance. According to a township official, the primary reason for the deficit was a drop in income from real estate transfer taxes. In 2008, real estate transfer taxes sank by about $100,000 from the previous year, because far fewer properties have been selling — a direct result of the downturn in the housing market. The township typically brings in about $230,000 a year from that tax.

Source: The Phoenix ; 1/6/09



112 townhomes on track for development in East Coventry

A sizable townhouse subdivision on 42.3 acres in East Coventry appears to be moving forward, despite flat construction trends across the country. Bentley Communities LP, of West Chester, is proposing a 112-unit development adjacent to Coventry Glen — off Ellis Woods and East Cedarville roads. The East Coventry Board of Supervisors approved the sketch plan this past fall after several delays earlier in 2008. Part of the agreement states that all townhouse units must be a minimum of 125 feet from existing homes.

Source: The Phoenix ; 1/6/09




DELAWARE COUNTY



Parkside approves budget

Parkside Borough council held a special Jan. 5 meeting to officially adopt the 0.69-mill property tax increase needed to balance the 2009 operating budget. The new real-estate tax rate of 7.66 mills means the owner of a Parkside property assessed at $100,000 will be paying $766 in taxes this year. The 10 percent millage hike for 2009 represents the fourth consecutive year that property taxes have risen for residents of Parkside.

Source: Daily Times; 1/10/09



Crozer-Keystone to lay off up to 400 employees

Delaware County’s largest employer, Crozer-Keystone Health System, announced it will eliminate up to 400 positions, as a result of various factors stemming from the current economic climate. Crozer-Keystone Health System comprises a network of more than 1,100 physicians and 7,100 total employees.

Source: Daily Times; 1/09/09



Upper Darby mayor submits resignation

F. Raymond Shay, mayor of Upper Darby Township , has tendered his resignation after 34 years in local government. Shay cited “personal reasons” in a letter to Council President Jack Clark. During his tenure Shay spearheaded the development of a township comprehensive plan in 2004, focused on the Market Street Gateway Project, the Baltimore Avenue Corridor Revitalization Project, the zoning code update, several housing code enforcement initiatives, recreation site improvements, and various traffic and pedestrian improvements. According to the Home Rule Charter, Clark , as council president, is next in line for the post of mayor. Clark has served for more than 25 years, but has declined becoming mayor, citing his full-time job as county personnel director in Media. A member of council will be appointed to serve as mayor and complete the last three years of Shay’s four-year term of office.

Source: Daily Times; 1/6/09



Wayne condo representatives keeping positive outlook

Pembroke North, a 54-unit condominium development in Wayne , was completed just in time for the real estate market slowdown, but both the developer and the sales manager maintain that the project is unique enough to weather any storm. Pembroke North is the first LEED (Leadership in Energy and Environmental Design)-registered multifamily residential project in Greater Philadelphia. The project has also been recognized by the Delaware Valley Smart Growth Alliance and by the Pennsylvania Resource Council for exemplifying “smart growth” principles and for leadership in environmentally responsible design. As of the beginning of December, seven units had been sold with one pending agreement.

Source: Suburban Wayne Times; 1/1/09





MONTGOMERY COUNTY



Upper Pottsgrove faces $5M sewer fix

A failing sewer treatment plant in Upper Pottsgrove may end up costing the township money despite being privately owned since the 1970’s. In 2001, the Pennsylvania Department of Environmental Protection (DEP) documented pollution coming from the plant into Sprogel’s Run. Under state law, when the owner of a treatment plant is unable to assume financial responsibility for damage to the environment, the hosting municipality assumes responsibility of plant operations and any associated liabilities such as fines and violations. Upper Pottsgrove commissioners have unanimously agreed to sign an agreement with the state that will commit the township to participating in a sewer project with an aggregate cost that could reach $5 million. The township will pursue a state infrastructure grant to offset the cost of the repairs.

Source: The Mercury; 1/07/09



CHOP Norristown clinic loses funding

Despite expansive public support for a $15 million pediatric medical office on Main Street in Norristown , the Children’s Hospital of Philadelphia (CHOP) withdrew its application for a use variance before the Norristown Zoning Hearing Board in November. Financing for the project would have come from a $15 million gift from the Karabots Foundation, which withdrew the grant after Norristown council members openly opposed the location for various financial reasons. The medical facility would have been built at 166 W. Main St. in the Designers Furniture & Interiors building of Chain Mar Furniture. The current commercial occupants of the building now pay $2,796 in municipal taxes, $7,494 to Norristown Area School District and $710 to Montgomery County . The non-profit status of the clinic would eliminate that revenue, which concerned several council members.

Source: The Times Herald; 1/03/09



Royersford to move forward with Main Street improvements in 2009

Royersford Borough hopes to continue work on Main Street improvements in 2009, including pedestrian crosswalks between Fourth and Second Avenues. Last summer, sidewalks and lampposts on both sides of Main Street were replaced, but a misunderstanding with PennDOT and the borough over new ADA requirements delayed the continuation of the project. Federal standards on wheelchair ramps changed in 2008 but the information was not relayed to Giovannone Construction crews performing the road work. As a result, workers had to tear up the new cement to make the ramps compliant with the Americans with Disabilities Act. The next phase of Main Street will span the railroad tracks to Third Avenue and is expected to start in the spring.

Source: The Times Herald; 1/06/09