CurbChat - Washington County PA Real Estate and More

MLS SNAPSHOT Feb-10-2010

2010-02-11T20:43:00Z

This is a video about data taken from the W Penn Multi List on Feb 10 2010 for the Peters Township and Washington, PA areas in Washington County. Much more information can be found on my web site http://www.depoe.com under the menu link LOCAL STATISTICS.

CurbChat.com

Bad Real Estate Agents Are Everywhere! -Video

2010-02-04T16:25:00Z

Below is a video I produced for February 2010 concerning bad real estate agents and how they can screw the consumer.

Real Estate "As I See It" Jan 2010 - Video

2010-01-18T18:29:00Z

Below is a video that I have just produced with some of my views on the local real estate market around Washington County, PA:

Jon DePoe
CurbChat.com

My Predictions For 2010 - Video

2010-01-01T05:57:41Z

Ok folks, here is my video pontification for the new year... and I hope I'm wrong.

Washington County Commissioners Raise Taxes

2009-12-20T02:13:00Z

The Washington County Commissioners have undoubtedly endeared themselves to the local citizenry with the passage of a tax increase for the coming year. In the midst of a stagnate recession no less. If you happen to live in the City of Washington this comes as a double whammy as the city also has once again raised the real estate tax on land and increased the earned income tax to all city residents. The county increase is 3.5 mills. The commissioners say they raised the tax reluctantly. To ease the pain supposedly the county management will be receiving a reduction in compensation next year. Wages are frozen but the managers will be contributing to the cost of health-care premiums for the first time. Wow! What an absolutely novel idea. The rest of us have been increasingly sharing those costs for a number of years and find no solace in this news. What we really need to see is the county workers paying at least half of their health care costs next year. They should share the pain many of us have suffered over the past few years of paying out upwards of $750 per month for a single person just for health care. And what's wrong with a 4 day work schedule for all county employees until things get turned around with the economy? I have no qualms with seeing the courthouse closed up on a Monday or a Friday, do you? Once things get back on track they can go back to a 5 day work week. The commissioners rejected cutting the length of the work day or shuttering county offices one day a week, as some counties have done, because it would not result in enough of a savings. To which I say WTF!!! Any savings are better than none.

The commissioners say that of the nine SW PA counties we have the lowest taxes. Well duh! Why do you think our surrounding neighbors are all wanting to move into this county? We have a tremendous growth rate in the county that translates into new homes being built, a plethora of retail outlets and many other benefits directly from this influx of population over the recent years which all contribute to the collectible tax revenues. Sure commissioners, go ahead, raise taxes and slow that growth down real quick along with the related revenues.

Contracts with the county's largest unions expire Dec. 31, and negotiations are continuing, said Scott Fergus, county director of administration. Great! Now would be a great time to cut out the fat in these union contracts. Let em go out on strike, there's plenty of available and willing unemployed out there to replace them, temporarily or permanently.

That's the way I see it! What's your view? There is a poll running on my website that is related to this issue.

Jon DePoe
CurbChat.com

Local Area Statistics as of 12-13-09

2009-12-14T15:23:00Z

Just downloaded from the West Penn Multi List is the below data on two local market areas. Current (12-13-09) listing information is under the red headings and last months (November 09) information on sales in these areas is shown under the yellow headings. Buyers and sellers can get a sense of the local market areas by referring to this data. Sellers will note that thier competition is showing under the red heading and buyers can get an idea of closing prices by looking under the yellow headings. Also noteworthy is the information showing under the median days on the market or how long it took to actually close on these properties (median means over 50% of the homes in the category shown).

PETERS TOWNSHIP AREA STATISTICS: 12-13-09

LIST PRICE RANGE	ACTIVE Listings	PENDING Listings	Pending Ratio %	Expired in NOV	SOLD in NOV	MEDIAN LIST Price	MEDIAN SOLD Price	List $ to Sold $ %	MEDIAN DOM

0 - 74,999	26	7	27%	1	5	$65,000	$73,150	102%	8
75,000 124,999	52	21	40%	3	9	$112,900	$104,900	96%	74
125,000 174,999	55	18	33%	3	23	$149,900	$144,500	96%	32
175,000 224,999	64	9	14%	7	8	$196,700	$196,200	98%	37
225,000 274,999	60	10	17%	1	5	$267,500	$252,500	94%	36
275,000 324,999	28	7	25%	2	8	$288,700	$287,500	97%	87
325,000 374,999	31	7	23%	4	3	$329,990	$320,000	96%	29
375,000 424,999	23	2	9%	1	3	$390,000	$385,000	98%	192
425,000 474,999	21	1	5%	2	2	$444,500	$405,000	91%	90
475,000 524,999	22	2	9%	1	0
525,000 799,999	63	2	3%	5	3	$589,000	$540,000	97%	107
800,000 1,000,000	11	1	9%	0	0
Totals:	456	87	19%	30	69	$283,419	$270,875	97%	69

WASHINGTON AREA STATISTICS: 12-13-09

LIST PRICE RANGE	ACTIVE Listings	PENDING Listings	Pending Ratio %	Expired in NOV	SOLD in NOV	MEDIAN LIST Price	MEDIAN SOLD Price	List $ to Sold $ %	MEDIAN DOM

0 - 74,999	48	17	35%	4	6	$49,900	$47,400	100%	82
75,000 124,999	43	9	21%	2	9	$89,900	$90,000	100%	69
125,000 174,999	50	5	10%	2	13	$159,700	$157,500	98%	50
175,000 224,999	29	2	7%	1	4	$214,950	$195,000	95%	90
225,000 274,999	20	6	30%	3	4	$232,450	$213,500	92%	67
275,000 324,999	9	1	11%	1	1	$294,600	$276,500	93%	16
325,000 374,999	3	0	0%	0	1	$329,900	$322,000	97%	115
375,000 424,999	5	0	0%	0	0
425,000 474,999	4	0	0%	0	0
475,000 524,999	2	0	0%	1	1	$499,900	$479,500	95%	41
525,000 799,999	7	1	14%	0	0
800,000 1,000,000	0	0	0%	0	0
Totals:	220	41	19%	14	39	$233,913	$222,675	96%	66

Jon DePoe

CurbChat.com

Oct 08 vs Oct 09 Data

2009-11-27T16:09:00Z

According to the data from the West Penn Multi List the bottom has been reached and the local area is rebounding significantly with an increase in both listings and closings comparing last October with this October. The data includes all local brokers listings and sales in the areas shown on the accompanying data chart. (Get chart) I have been speaking with numerous local agents who confirm this upward surge in business. Most say that they are increasingly busier than they were last year at this same time.

Undoubtedly, the Tax Credit is a major force in pushing these numbers up and now with the recent extension of this credit though the spring of next year the trend can only be expected to continue. After that it's anyones guess as to what will happen. Those contemplating a move should read my recent post with some tips on the Tax Credit.

I will post November data as soon as it becomes available in December, so stop back and see if the trend is continuing.

CurbChat.com

Tips On The Tax Credit For Homebuyers

2009-11-27T01:54:00Z

Tips for buyers
Interested in buying a home and claiming the home-buyer tax credit? Below are five tips:

1. Don’t procrastinate. Start searching for a home now. Getting an early start will give you a better chance of finding the right house before the credit deadline. Before you start house hunting, get preapproved for a mortgage and do a realistic assessment of what you can afford. Buyers who have to sell an existing home should price it aggressively from the beginning to drum up interest and get a buyer as soon as possible.

2. Don’t count on another extension. The credit won’t be available after April 30, 2010. If you want to take advantage, be sure to make that spring deadline.

3. Mind the interest rates. Mortgage interest rates are low right now, but will likely rise next year. Higher rates will affect your monthly mortgage payments, thus the affordability of the house you are buying. Average rates on the 30-year fixed-rate mortgage have been hovering around 5%, but when the government stops buying large amounts of mortgage-backed securities, rates could rise.

4. Communicate with your lender. Throughout the process, make sure you’re communicating with your lender regularly; if there’s a piece of documentation you’re asked for, get it turned in as soon as possible. Good communication is important in making sure the loan closes on time. And think twice before pursuing a short sale if you want to make the credit deadline. That’s where someone sells a home for less than what he or she owes on a mortgage, with permission of the lender. The process can be lengthy and unpredictable because the homeowner’s lender has to approve any deal, and can be complicated when there is a second mortgage associated with the property.

5. Don’t take shortcuts. Don’t forgo any of the steps you would normally take just to make the tax credit deadline. Make sure the house is a good fit for your needs and get a home inspection. Skipping steps could cost you in the long run.

CurbChat.com

The Annual Survival of the Fittest Season is Here!

2009-10-22T16:53:00Z

The survival of the fittest season is fast approaching the real estate industry all around the country. October is the beginning of the normally dreaded “slow period” for buying and selling homes that will traditionally extend to sometime in late March or possibly even further this time due to the prevailing conditions of the marketplace. Agents, many who have been literally starving over the summer months will undoubtedly succumb under the weight of the annual upcoming fee assessments levied by brokers, the state licensing departments and Realtor associations all across the country. As the agent’s drop under the weight of these anticipated fees, the Realtor associations will be adversely affected from the loss of numbers and some will also expire as the dwindling funding source from the agents dues hits their bottom line. Not entirely a bad thing either as many Realtor associations are not worth a nickel of their dues in the first place. I can say that because after being a Realtor member for nearly 20 years I have had the experience of observing Realtor associations and what services they actually provide for their membership and in many cases it’s not a very pretty picture. For now we’ll leave Realtor associations on the shelf to be revisited next year in more depth.

The agents and their survival is something else. Here the real problem in my opinion actually lies with the brokerage firms, and the licensing requirements. I recently read an excellent article on this subject put out by Inman News. The article addressed the future of the real estate industry and how the model must change in order to survive in this technologically advanced marketplace. Brokerage models like Coldwell Banker, Century 21 and Prudential have become the elephants in the room and these models need to be discarded. Brokerage models like Re-MAX and Keller Williams are closer to what is going to work successfully. Big box brokerages will be out. Agents of the future will be working from home and utilizing much smaller office facilities (ie: conference room and a shared work space) to meet clients, hold closings or attend training sessions. Office meetings will be thankfully gone at the future brokerage. Floor time will be gone too as modern phone systems can provide call forwarding directly to the listing agents cell phone. Office computer banks will no longer be offered, as each agent will have a wireless laptop to accompany them to the office. A networked printer will handle printing needs for any forms and MLS printouts they may need. The constant recruiting and turnover of new agents will be over, as brokers will see the value of retaining a smaller more professional sales force. States will enact more stringent licensing and pre-licensing education requirements so that all of those two-week wonder agents will be a thing of the past. The current independent contractor system now prevalent will be increasingly modified and eventually morph into a completely salaried position. These things will happen over extended time, but they will happen. Changes are on the distant horizon and I'm so glad that I’ll be retired from the fray.

Jon DePoe
CurbChat.com

Washington PA Market Area Data August 2009

2009-09-13T00:44:00Z

The Washington, PA area market is looking a tad bleak for the month of August 2009. As the below data shows there were not too many closing activities for last month. 39 is a low figure for this large of an area. The inventory of homes shows that on September 5th there were 263 active listings and 65 listings that are in some stage of a contractual agreement of sale. 30 homes expired from the listing service during August. The overall median (50% or more) time of homes on the market before they went under contract shows 66 days. The median sale price for all homes that closed in the area is showing $230,569. These figures are pulled directly from the West Penn Multi List system and are assumed but not guaranteed to be accurate. It's the best data I can come up with for local buyers and sellers to evaluate what's going on with the current local market. The area includes The City of Washington and all the contiguous townships, also all the areas to the west state line with WV.

LIST PRICE	ACTIVE Listings	PENDING Listings	Pending Ratio%	AUG Expired	AUG SOLD	MEDIAN LIST Price	MEDIAN SOLD Price	List-Sale Ratio%	MEDIAN DOM


0 - 74,999	63	13	21%	8	10	$57,400	$56,400	98%	16

75,000 124,999	49	14	29%	6	9	$111,500	$111,500	100%	69

125,000 174,999	51	15	29%	7	10	$137,400	$135,325	98%	54

175,000 224,999	29	11	38%	3	3	$217,000	$210,000	97%	144

225,000 274,999	33	6	18%	3	1	$229,500	$219,900	96%	66

275,000 324,999	12	1	8%	1	3	$279,900	$252,000	90%	47

325,000 374,999	4	2	50%	0	1	$349,500	$335,000	96%	147

375,000 424,999	6	1	17%	0	1	$375,000	$350,000	93%	49

425,000 474,999	4	2	50%	0	1	$429,000	$405,000	94%	6

475,000 524,999	2	0	0%	0	0

525,000 799,999	10	0	0%	1	0

800,000 1,000,000	0	0		1	0

Totals:	263	65	25%	30	39	$242,911	$230,569	96%	66

If you are looking to buy or sell an property I can direct you to good quality agents to assist you in the process. Visit my web site to get more information on this free service to buyers and sellers of local real estate.

CurbChat.com

July 09 vs July 08 Data

2009-08-19T12:52:00Z

After being an active agent for almost 20 years in the local SWPA area of Washington County I have experienced many times the seasonal surges and lows that agents have to get through in the business in order to survive. Data that I have just obtained through the W. Penn Multi list on the number of local closings reflect some change in the way things usually happen during the traditionally busy summer months. I can say that usually June and July are generally busy months for some agents. In the Peters Township areas closings fell 20% July to June and the Washington areas closings fell 13% comparing those same numbers.

When we look at July 09 vs July 08 comparison data we had a mixed bag. In the closing category Peters Township areas experienced a slight 5% increase July 09 to July 08 whereas the Washington areas experienced an 11% decrease. On the listing side the Peters area showed an 11% decrease and the Washington areas experienced a 13% decrease. The July 09 vs 08 data is represented in the chart below. If your looking to sell or buy a home in the area contact me for assistance in finding the right real estate agent to work with. It pays to work with an experienced agent. My referral service is free to you.

CurbChat.com

First Presbyterian Church 1793 - rummage sale

2009-08-04T16:21:00Z

August 4, 2009

First Presbyterian Church 1793 here in Washington at the corner of Wheeling and College St is having it' s annual rummage sale this coming weekend. My mother who is in her 90's usually waits to get rid of some of her "stuff" during the sale. It sometimes accumulates in my attic until it's ready to take over to the church. A lot of the "stuff" she gives away are really nice clothes, lots that she's never even worn.. (moms a QVC addict) that she had to have, but never got around to actually putting on to wear. It accumulates... a lot!

This year I waited for her to get more of the nice "stuff" together for the sale and today (Tuesday) picked up the last of this years contributions of clothes, old Christmas decorations and other excess items. I took them over to the church just before noon today. It took me five trips back and forth between the car and the church basement to get all the items delivered. There were a number of ladies there sorting out the huge inventory getting it ready fot the sale this coming weekend. I commented to one of them that they looked really swamped with stuff to which one lady snapped "yes, and we shouldn't be taking things in this late but since you brought it in you can leave it, thanks." Whoa. Did I just hear right I thought? I just turned around and walked out more than a little stunned at what I just heard.

Needless to say, Goodwill will be getting all moms stuff in the future. The church's annual rummage sale is done for me.

Jon DePoe
CurbChat.com

Peters Township area closing data

2009-07-22T13:45:00Z

Below you will find data taken from the West Penn Multi List for the month of June and covering Peters Township and it's close surrounding townships and boros. The data shows residential homes/townhomes/condominiums that actually closed in these respective areas and gives the median (50% or more) list price; sale (closed) price; days on the market and the sale to list price ratio. This data should be helpful to those of you who are in these areas and are contemplating putting your home on the market. It can also be a great guide to buyers in this market area.

I can provide you with a qualified and experienced agent who will assist you if you are thinking about selling or buying a home in these and other areas. Just contact me for help.

AREA	RES	TWN	CONDO	MEDIAN LIST $	MEDIAN SALE $	DOM	S/L %
500001	29			$ 325,000.00	$ 310,500.00	44	96%
Peters		3		$ 189,500.00	$ 180,000.00	48	95%
Twp			0
500002	14			$ 239,900.00	$ 237,500.00	59	99%
NStrabane		8		$ 163,900.00	$ 162,950.00	89	99%
Twp			1	$ 294,400.00	$ 313,900.00	365	107%
500003	1			$ 149,000.00	$ 138,000.00	20	93%
Finleyville		0
Boro			0
500004	2			$ 358,035.00	$ 327,000.00	133	91%
Nottingham		0
Twp			0
500005	3			$ 149,900.00	$ 136,000.00	99	91%
Union		0
Twp			0
502001	7			$ 139,000.00	$ 126,000.00	45	91%
Canonsburg		0
Boro			0
502002	5			$ 139,900.00	$ 140,657.00	22	101%
Houston		0
Boro			0
502003	13			$ 200,000.00	$ 198,000.00	87	99%
Cecil		5		$ 159,900.00	$ 152,000.00	46	95%
Twp			0
502004	4			$ 172,400.00	$ 165,950.00	40	96%
Chartiers		0
Twp			0
KEY:
S/L% = median selling to listing price ratio
DOM = median days on the market
Information shown here is deemed to be accurate but not guaranteed.

Jon DePoe
CurbChat.com

City to double parking rates

2009-07-10T01:16:00Z

It's not only outrageously absurd, it's plain stupid. I'm talking about the City of Washington's new proposal by our industrious mayor Spossey to double, yes double the city's parking meter rates. The new rate if implimented will be one quarter per 15 minutes of parking time. Wow, that's on par with the coastal resorts of Ocean City, MD and Bethany Beach, DE. Now I'm not saying that the city is in need of more income, it may be, but is this the way to make it? I seldom frequent any business that's left in the downtown areas. Parking is abysmal during the day. The new parking garage at the corner of W. Beau and Franklin sits at the bottom of a steep incline which many people would find difficult to climb to get up to Main Street.

This move will put stress on the remaining businesses in the downtown by driving customers and clients to the outlying competition.. just what they need to have happen, right? The attorneys who constitute the majority of the tenants in the Washington Trust Building may have to start doling out quarters to their clients. Yeah right, don't hold your breath.

Jon DePoe
CurbChat.com