Hazy, hot and humid would be a good way to describe the housing market around here. Wait a minute did I say HOT? Don't look now but the average price of a home in Delaware County, PA is rising?

Yep, RISING! For the fourth straight month the average sold price of a home has risen. Delaware County is bucking the trend that the media has smeared all over the headlines. Listen, I'm not saying we are out of the woods but look at the numbers. For the most part they are up.

As the national media glorifies the big slide in the real estate market our area is still trying its hardest to remain steady and prosper. Let's look at the numbers and see just what's happening...

• The number of units listed for sale is down 9.14% over the number of units listed in June '08. July '08 listings are also down about 14.2% over the number of homes listed in July 2007.
• The Average list price is also up just under 1% over June ‘08 and is  up 11% over the July '07 average list price.
• The Average SOLDprice is up 3.4% over June ‘08 a nice surprise for the market and even better news is that the SOLD price this year compared to July of ‘07 is up 5.7%.  
• The Average Days on Market also decreased 57 days, a 15% decrease over last months 67 days on market average and is up 13% over July 2007 days on market of 51.

So, there are less of homes on the market in Delaware County than in recent months, demanding a reasonable sale price with a higher average sale price and less days on the market. Seems to me that the market is showing some signs of stability overall in our area.

I cannot stress enough that Delaware County is not following the rest of the country. Make sure you look at the big picture to get the true residential resale market statistics; it will help in understanding what type of market we are in. Delaware County seems to be holding its ground in this topsy-turvy market, know your numbers and you will be armed with the knowledge to make the decision that is right for you!

All the best
DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

Summer time is here so what better time for flip flopping. It seems that Delaware County is giving mixed signals to the real estate market. The residential resale statistics are up and down. Since thee days on market has continued to increase dramatically over last year we really need to look at the big picture in order to see what is happening around Delco. As the national media toughts the big slide in the real estate market our area is still trying its hardest to remain steady. Let's look at the numbers and see whats happening...

• The number of units listed for sale is down 2.05% over the number of units listed in May '08. June '08 listings are also down about 23% over the number of homes listed in June 2007.
• The Average list price is also down just under 6% over May ‘08 but is  up 6% over June '07 average list price.
• The Average SOLD price is up 12% over May ‘08 a nice surprise for the market but a slight reality check is that the SOLD price this year compared to June of ‘07 is still down about 1%.
• The Average Days on Market increased to 68 days, a 2% increase over last months 66 days on market average and is up 47% over June 2007 days on market of 46, ouch.

Buyers are definitely taking their time in making a decision for the purchase of their new home, which is frustrating to most sellers. Only time will tell but the numbers are indicating that overall sold prices are up 6% over this time last year which in not bad considering many national stories of the steep decline in real estate values. Make sure you look at the big picture to get the true residential resale market statistics; it will help in understanding what type of market we are in. Delaware County seems to be holding its ground in this topsy-turvy market, know your numbers and you will be armed with the knowledge to make the decision that is right for you!

All the best

DJ

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

Delaware County has hit a bump in the road as the residential resale statistics do not look to strong. As the slide in the real estate market continues we take a look at the whole picture and see that although the market is trying its hardest to come back you can't fight the numbers. Home sellers may not like the statistics and may need to take a very close look at the market before considering the sale price of their home. The right strategy may just be able to buck the trend and get you a decent sale price in this down market. Here is what the TRENDMLS numbers are telling us about last month...

The number of units listed for sale is down 12.5% over the number of units listed in April '08. More staggering is that listings are down about 26% over the number of homes listed in May 2007.

The Average list price is also down about 2% over April ‘08 but up   8.6% over May '07 overall it may seem to be a nice annual increase showing some strength in pricing however the SOLD price over last year is sobering.

The Average SOLD price is down a blip at .003% over April 2008 and even more so discouraging is that the SOLD price from last year was down 16% over May '07.

The Average Days on Market decreased to 66 days, a 16% decrease. However, 66 days on market average is up 15.2% over May 2007 days on market of 56.

Not much of summary on this one other than the dog days of summer seem to have taken a bite out of the market early this year and consumer confidence is still sitting a bit low. With vacations and relaxation looming for most would be home buyers the outlook over the next few months is going to favor the buyers as inventory builds and selection is vast. Buyers get your shopping hats on, the inventory is high and according to the statistics the prices seem to be in your favor, happy house hunting.

See Ya!
DJ    

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

By loose definition, blogging is the keeping of online diary that is representative of ones personal thoughts, feelings, points of view, ideas, knowledge, etc, compiled and published on a web log a.k.a. blog.   

For most independent business owners it is a means to highlight their offerings, whether products or services, in a more personalized approach to help them stand out from the competition. Your blog is supposed to be a reflection of you or who you are striving to be, some are extravagant displays with swooshing graphics, video, audio snip its and  tightly woven design. Others are more get to the point, here is what I have to say plain blogs. Both are productive and just as effective because the audience out there is different.

So why blogging? It is just another medium used in today's society for individuals to express themselves. A blog allows you to share ideas, promote yourself, post pictures, video, write your opinion, share feelings and thoughts on any given subject. Regardless of whether or not people read it, and you hope people do, your blog is out there for all to read. Write what you feel and stand by what you write.

In the Active Rain community Real Estate professionals are encouraged to contribute to the content of the site by writing blog posts, making comments, posting pictures, promoting Active Rain through links and inviting others to join. If the blogger participates by contributing in some way to the site the blogger is rewarded with points. They are virtual points, not for the purchase of goods or services and not to be redeemed for any other prize. They are given to encourage active participation in a professional community that helps both those in the real estate business and consumers looking for professional input and advice.

Now yes, points are not always rewarded for posts and there are monitoring systems put in place to help regulate the content but overall if someone wants to send a Happy Mothers Day Message to the community, they can. They may not get points for it, but the blogger is entitled to post what they want. Is it about the points? NO. The points are just an incentive to actively participate. Consider them marketing "blog dollars", the more you contribute the better position your marketing blog dollars gets you on the site and even better is the possibility that your exposure to the internet search engines is increased. Small personal notes are always good to send and receive and always appreciated. Whether you are preparing a post to promote a listing, short article or a short note it still takes effort and discipline to actually sit down and do it, you need to make an effort to write it and submit it. So maybe points should be rewarded for a note but overall the points are the bonus. The active participation is what helps you the blogger build a better business practice by remaining active in the community.

The Active Rain community allows the real estate professionals to connect to each other somewhat anonymously and help each other in their quest to better themselves and their business practices in any way they choose.  I am not sure how many other professional organizations have capitalized on building a community blogosphere such as Active Rain but I am sure it would be beneficial.

Kudos Active Rain and to all who help build this incredible real estate community!

all the best

this blog was inspired by a recent post by Leander McClain on "Is It Really About the Points"

Overall the month to month statistics are beginning to rebound and patience may be the hottest commodity on the market this year. Delaware County has hit a slide over last year but your need to look at the whole picture to see that the market is trying its hardest to come back. Home sellers may not like the stats right now but sit tight. Here is what the TRENDMLS numbers are telling us about last month...

• The number of units listed for sale is up, just over 12% over the number of units listed in March '08. However listings are down about 9% over the number of homes listed in April 2007.
  
• The Average list price is up about 11% over March ‘08 and down  7.7% over April '07 a little troubling on the year-to-year sales but a nice month-to-month increase in pricing
  
• The Average SOLD price is up 11.7% over March 2008 and still discouraging is that the SOLD price from last year was down 2.5% over April '07.
  
• The Average Days on Market decreased to 76 days, a 2.6% decrease. However, 76 days on market average is up 33.9% over April 2007 days on market of 57.

This is the home buying and selling season and despite the low consumer confidence there were still more homes listed in April than in March so the home buyer inventory is out there. The numbers may still not be favorable for sellers and the market buyers will dictate what the home is worth and sellers need to be faced with the reality of having to accept a lower than expected sale price in this type of market. Patience is going to be needed by all involved in the real estate market as the fast and furious pace of years past is just that the past!

See Ya!

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

Are you getting flooded with how you can "conquer the market in your town", "list 10 homes this week" or "I have a buyer for you" emails? I'm not sure about how the rest of you out there feel, but we sure have a target on us right now. The "get rich quick" marketing message that I see on a day to day basis drive me crazy. I have yet to see one sustainable solution that would help me increase my business that actually made sense. How much would you pay for the secrets to real estate success, I don't really know.

I'm always looking for new ways to market my business and ways to increase my business. But these marketing messages and get rich programs targeting real estate agents in the a down market is predatory. Sound familiar?

What I would like to know is if anyone out there has used any of these training gurus that actually worked.  Do you have a particular program that you highly recommend? I would love to hear about the success stories and the systems that you have used to increase your business.

 All the best

Dave

March Housing Market Update for Delaware County Pennsylvania

Consumer confidence is at an all time low. Job losses in March were the highest is years, topping 80,000. And this means is that the housing market is also feeling the lack of confidence as home buying in Delaware County Pennsylvania is feeling the crunch. Since last month Delaware County has taken a slide and home sellers may not like the stats. Here is what the TRENDMLS numbers are telling us about last month...

• The number of units listed for sale is up, just under 11% over the number of units listed in February '08. However listings are down about 13% over the number of homes listed in March 2007.
• The Average list price is down about 11% over February ‘08 and down 8.9% over March '07, a nice increase in pricing
• The Average SOLD price however is down 12.5% over February 2007 and the discouraging news is that the SOLD price from last year was down 7.6% over March '07.
• The Average Days on Market decreased to 78 days, a 2.5% decrease. However, the 78 days on market average is up 16.4% over March 2007 days on market of 67, so properties are sitting out there longer.

Until consumers gain confidence, the numbers may not be favorable for sellers. As we always proclaim the home is worth what the buyers are willing to pay. Not good news for the home sellers as they may need to have a greater amount of patience. The three big items for home owners to remember is price, location and condition. If they are all in line with the market competition you may need to sit tight and wait for the right buyer.  

Happy Buying and Selling

See Ya!
    

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties

 In Pennsylvania agents are required by law to present, explain and have their potential clients sign a Consumer Notice which fully explains relationships between the agent and their client. It is very clear as who is representing who in a real estate transaction.

But has your real estate agent really done their job? Do you understand the consumer notice that you signed? It is somewhat confusing when dual agency, designated agency and transaction licensee come into play but your agent needs to be sure that you are fully aware of who is representing who before you begin your search. 

Everyone is entitled to exclusive representation and it is extremely important that everyone involved in the transaction understands who they are working with. Why? It helps avoid any awkward representation issues when other agents suddenly enter the picture.

A buyers agent should among many other things...
1. Provide you, the buyer, with a list of possible homes in your price range and area.
2. Help you with your financing options
3. Coordinate and Schedule all appointments for you 
4. Be your exclusive representative
5. Educate you on the market place, procedures and contracts that you will need to sign.
6. Help put together the offer to purchase a home
7. Negotiate on your behalf and full represent you in the transaction
8. Most importantly be your one point of contact, your guiding light through the process.

Your agent will do the best they can in helping you find the home of your dreams. Yes, along the way you may find a home on your own outside of the area you identified as your target area. Let your agent know that you found a home you would like to see and they will be happy to make all of the arrangements to preview the home and the should also adjust your search criteria. I think that you will find greater success if you work closely with one agent rather than calling all of the houses you like yourself and scheduling appointments with all those agents, let your agent do the leg work for you.

Stay in constant communication with your agent and they will make your home buying process much more enjoyable. 

Happy Buying

 

You know when you start something new, you just don't know how its gonna work out. Well, I have to say that this TechTalk Thursday forum has seemed to dig it's heels into the ground and ignited the blogger in more than a few people in my office.

I went onto the Delaware County PA page to check and see if there were any new faces and boy was I surprised to find that seven of the top 25 were people in our office and most of those joined after attending or because of our TechTalk Thursday conversations on Active Rain.

Congrats to Deb Greto, John Estheimer, Barbara Berue, Dyan Nelson Blass, Pamela Cloud, Anne Marie and Megan Kerezsi, Gay Murray, Kelli Harris, Tom Feely and John Herried who have all joined the AR community and to all those who are continuing to participate, contribute and build such a great forum. Makes me proud!

What is TechTalk Thursday...
TechTalk Thursdayis and informal session/conversation held once a month on the third Thursday. It is not marked as a class or training session, that may scare the technophobes off from attending. We want to keep it informal and open. Agents are encouraged to bring topics, questions, recommendations and their lunch to sit and chat. And we do just that, talk about whatever is on the minds of the attendees. Once the session is complete I compile a TechTalk REwind newsletter outlining the sessions topics and distribute to the entire office in hopes of peaking future interest. 

It has been a very successful session with great feedback and participation. I love it and I would encourage you to introduce this type of forum in your office, if you are in the area I'll even come by your office and help you start your own group regardless of any affiliations, I want Realtors to embrace technology!

People will learn, although it is not a training session, and people will actively participate. For each of the sessions, have a few bullet points to talk about, such as what is the best phone for Realtors, website providers, what is a blog, to get the conversations rolling and sit back and have fun with it. The conversations will vary and need to be monitored as to not go too technical for the bunch. Balance it out the conversations for all attending, put it in print and follow up with the next month. It serves as a great learning tool and will help build relationships, tech knowledge, marketing efforts and most of all comfort levels with technology.

Give the session a try and let me know how it works for your office! Oh yeah, don't forget to mention at your first meeting, that the reason you are there was because Active Rain , a technology tool, and its members are helping you increase your business everyday!  Would love to hear from your sessions.

All the best

David Joslin

A great place to live, work or visit, Media PA has so much to offer. From the Summer time festivals, shopping, restuarants, music, arts scene and the year round activities, it is a place that has something for everyone, That's why they call it Everybody's Hometown!

 Take a look at a video I put together...

All the best

A while back, while serving as the Technology committee chairperson at our Keller Williams office in Media PA, our small committee of 4 was brainstorming about how to help agents in our office have a better understanding about using todays technology in their real estate practice. It was immediately apparent to all of us sitting around the table that the best way to understand what the agents were looking for was to simply ask them. But what would be the best way to do that? An informal open discussion over lunch? Ding! It was a pretty simple concept. When would we have it? Well since we offer a KW Cares lunch, a fundraisng lunch program where the food is donated by an agent and then the lunch is offered to those in the office for a charitable donation of $5, every Thursday lets target that day so we can also possibly increase traffic to the lunch as well. Ding! Ding! Finally the name just rolled out after only a few minutes, TechTalk Thursday was to be held the Third Thursday of every month at Twelve Thirty - enough T's? Ding! Ding! Ding! @3 have a winner.

These sessions are not marked as a class or training session, that may scare the technophobes off from attending. We want to keep it informal and open. Agents are encouraged to bring topics, questions, recommendations and their lunch to sit and chat. And we do just that, talk about whatever is on the minds of the attendees. Rarely does anyone get up and leave and most of the time the sessions fly by. Once the session is complete I compile a TechTalk REwind newsletter outline the sessions topics and post it in the office. It has been a very successful session with great feedback and participation.

I love it and I would encourage you to introduce this type of forum in your office. People will learn, although it is not a training session, and people will actively participate. For each of the sessions, have a few bullet points to talk about, such as what is the best phone for Realtors, website providers, what is a blog, to get the conversations rolling and sit back and have fun with it. The conversations will vary and need to be monitored as to noto go too technical for the bunch so you will need to balance it out but if the information is discussed, put in print and then followed up with the next month it serves as a great learning tool and will help build office relationships, tech knowledge, marketing efforts and most of all comfort levels with technology.

So why have I waited months to share this concept with the AR community? Well we're creating blogging monsters, especially that Deb Greto! Yesterday out of the hour long forum, we spent about 45 minutes on Active Rain and blogging. We started the blogging conversation in our February forum and then at least 4 Real Estate related publications covered the topic in their March issues so the topic arose again this month and we really had a great discussion.

Give the session a try and let me know how it works for your office! Oh yeah, don't forget to mention at your first meeting, that the reason you are there was because Active Rain , a technology tool, and its members are helping you increase your business everyday!  

All the best

DJ

Welcome to this amazing West Conshohocken PA executive carriage home. Only four years young the home still looks brand new. It has been meticulously maintained and upgraded to accommodate all of the desired amenities of today's new construction. Conshohocken PA is a highly desirable location, just outside Center City Philadelphia PA, which grants you easy access to all of the areas main roadways, schools, shopping and transportation. As you travel through the home you will discover the numerous amenities that make this home a true stand out.

Some Highlights and Features include...
-  4000 + Square Foot of Living Space
-  Kitchen w/ 42" Cherry Cabinets and Granite Counters 
-  3 or 4 Spacious Bedrooms
-  2 Full / 1 Half Bath
-  Oak Staircase and Hardwood Flooring
-  Open Main Floor Design
-  Sliders to Slate Patio and Rear yard
-  Finished Basement w/ Separate Pub  
-  Private Master Bedroom Deck
-  Third Floor Theatre / Media Room
-  Two Car Garage plus much more...

for more photos, a virtual tour and more info visit www.DavidJoslin.com 

This home is being offered for sale by
David Joslin and Gus Nazaridis
Keller Williams Real Estate, Media PA 610-565-1995

List price $599,900.00                

I love this market!

Yep you heard me right, I love it. Philadelphia area investors are chomping at the bit to sink their teeth into more and more properties. As properties hit the market, the good ones are always gone quickly - right price, right location, right condition and SOLD!  

The beauty of this market is that the investors are constantly asking for more and more properties and that forces our team to create opportunities for the investor. We currently have a laundry list of investors who are buying all types of properties. No matter what the fed is saying, no matter what the national press says about the declining market, the investors are buying, buying and buying. And guess what, they don't just buy one and done. They are going to buy more and more because they have a plan to strike while the iron is hot. A market where supply outweighs the demand, a market where a homeowner with equity in the house is going to sell for 20% less than market value because they want or need to sell. These are the deals that are out there and it is knowing the specifics about that one property so you understand the sellers position and are able to make the offer for what your buyer is looking to spend. I‘m not saying low ball offers all day, every day but I am saying that you need to understand the situation for that particular property and make the recommendation that your client may be able to get a good deal, we also have to have the gumption to tell investor it is not a good fit and move on. Remember we are their eyes and ears on the market conditions, we are the professionals that are doing this everyday and we can make the clients very happy as long as we understand how to make it happen so that all parties are happy.

Understanding the big picture, to do that it is imperative that you know exactly what the investor's goal is before you bring them any properties to analyze. I know that sounds like a very basic fundamental rule but I mean you really need to fully understand the ultimate goal. I'm not talking about buying 10 properties, at 15% below market value this year and rent them out to tenants. What you truly need to understand is why. Obviously they have an ultimate goal. Maybe it's to buy the dream beach house or amass 1 million dollars in real estate each year for the next 5 years and use that portfolio and income as their retirement fund. When you start to have those conversations that is when you begin to truly understand what your investor wants.

Everyone has a very different vision of what their real estate investments are going to allow them to do in the future and we, their certified real estate specialists (CRS) have the distinct opportunity to help deliver their dream to them. Wow that is powerful.

All the best

On March 5, 2008, Lower Chichester firefighter Nicolas Picozzi (35) was killed fighting a fire in Upper Chichester, PA. I think this is the second firefighter in just 6 months in Delaware County. Michael Reagan, Jr. (19) of Sharon Hill, PA lost his life during a garage fire in September 2007.  It is a sad and solemn occasion when these tragedies occur, unexpected deaths for those serving their communities.

I was visiting my grandmother earlier this week to drop off some papers and see her new home, she just downsized into a more manageable space and loves it. Well, as I was leaving her home I arrived at the intersection just one block from the Lower Chichester fire company. While I was at the stop light the police motorcycle escorts stopped traffic and the Lower Chichester Engine 39 slowly followed with the casket of Lieutenant Picozzi riding high atop the rear of the truck, a sobering moment, yet such a dignified tribute as his fellow firefighters processed to a viewing for this fallen hero. 

I would just like to extend my deepest appreciation to all who serve us on a daily basis to protect and serve the communities needs, especially those who volunteer to do it for the love of the job and the community. Many of my relatives and friends have served or are actively serving as volunteer firefighters, paramedics or emts and I can't thank them enough for what they have done and what they are continuing to do for the communities every time that pager goes off or that whistle blows, no matter what time of day they respond, they are there for us. 

Take a moment to acknowledge these public officers and give a nod, a wave, a thank you or even a hand shake or hug to these everyday heroes. Let them know that what they do for us is appreciated every day.

Thank You all for your service.

Delaware County's housing trend update.

The national media is still killing buyer and seller perception of the market conditions in our area but at least we received a recent boost from the Philadelphia Inquirer stating that of all places in our area, Media PA was one of the best markets right now. So here is what TRENDMLS statistics are telling us about last month

• The number of units listed for sale is down, just under 6% over the number of units listed in January '08. However listings are up about 5% than the number of homes listed in February 2007.
• The Average list price is up about 8% over January ‘07 and up 12.5% over February '07, another increase in pricing
• The Average SOLD price however is down 3% over January 2007 but the somewhat good news again is that the SOLD price was up almost 3 % over February '07 sold prices.
• The Average Days on Market increased to 80 days, a 21% increase, ouch. That is also about the same increase over last years February 2007 days on market of 67, so properties are sitting out there a bit longer.

Activity has been on the rise this month already and the market is looking for a nice boost with Springtime right around the corner. Happy Buying and Selling.

See Ya!

*statistics derived from TrendMLS provider of multiple listing services to the real estate community of Delaware County and many other surrounding counties