Real Estate Market

Chester County Market Trends Report

Chester County PA Market Trends

Chester County PA Real Estate Market Trends for December 2018

Chester County PA single-family homes saw pending sales decrease by 39.0% in December 2018 when compared to December 2017. 527 homes sold in December with a median sales price of $320,000.  The average sales price decreased by 2.4%, and homes were on the market 10 days less.

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Real Estate Disclosures And You

Zillow.com defines the term disclosure as “...the buyer’s opportunity to learn as much as they can about the property and the seller’s experience in it.”  In most states, this simply means that the seller must let the buyer know about problems that they are aware of.  Whether you’re selling or buying a house, disclosing issues with the house is an extremely important part of the process.  

 

What Disclosure Means for the Seller 

  • - Your listing agent will provide a form for you to fill out, answering questions with either yes, no or I don’t know about different aspects of the house.  This form should be filled out truthfully and to the best of your knowledge. 

  • - Items that most states ask you to disclose to the buyer:  lead paint or asbestos, previous repairs or additions, mold or water damage, pest issues, drainage problems, foundation cracks, problems with HVAC and other appliances, and if the roof is leaky. 

  • - If you think there might be a problem, say possible mold in the crawlspace, have an inspector come and have a look.  It’s better to be safe than sorry here. 

  • - While you’re going over the disclosure form, if you’re not sure if you should report something, report it anyway.  It’s best to err on the side of caution. 

  • - Have the disclosure ready before you’ve accepted an offer for your own protection. 

  • - Your listing agent will be aware of all government disclosure requirements--federal, state, and local--so be prepared to report all that these laws ask of you. 

 

Disclosure and the Buyer 

  • - Once you receive the disclosure statement, go over it carefully and ask questions if you’re not sure about anything listed, because you must sign the disclosure. 

  • - The extra expense of having an official inspection done on the house is vital to this part of the sale.  Have the disclosure form information with you when you meet the inspector at the house, so you can go over the problem places with a pro. 

  • - In the case of any additions to the home, check the local government building permit and zoning information to make sure the addition was done the legal way by licensed people. 

  • - If you have any issues with the seller’s answers on the disclosure statement, and don’t want to make the repairs, and can’t come to an agreement with the seller, it may be best to walk away and look for another house. 

  • - Once you are satisfied with the disclosure and have the peace of mind that the sale should go through, sign off on the disclosure. 

 

A disclosure should be a seller’s protection plan, and smart sellers will be completely honest, and maybe even over-disclose.  Also, be aware that some states even ask sellers to disclose things like traffic noise, and even paranormal activity!  Your Realtor will know everything you need to provide to buyers, so the sale of your home goes smoothly.

Courtesy of Chester County PA Realtor Scott Darling.

Photo credit: nestiny.com

Utilize Your Space


The large dining room, family room or bonus rooms was one of the things that sold your house to you.  Despite
 our good intentions, though, those rooms sometimes end up being used for storage, folded laundry, or just not being used altogether.  Use these ideas to inspire you to get these rooms ready to spend more time in: 

 

Extra Bedroom 

Most extra bedrooms end up being the guest room, whether you have guest often or not.  Turn that room into a dual-purpose room; use a daybed with trundle or a wall bed so you’ll have more space in the room for other things. 
 

  • - Set up a home office or study space for the kids. 

  • - Add a small double-leafed or card table, use stackable or folding chairs, install some shelving, and have the room serve as the game/play room.   

  • - If your children like to invite friends over for video games, hang a flat screen on the wall, a small shelf for their game console, lay a cushy area rug on the floor, and purchase bean bag chairs, slip chairs are large floor pillows for seating. 

  • - Create a reading room with a small bookshelf, a comfy chair, blanket, small side table and lamp. 

 

Bonus/Flex Room 

You couldn’t wait to start decorating and using your extra room, but you’re stumped on exactly what to do. 
 
 

  • - Get the television out of your living space, get some affordable seating, and create a home theater.  

  • - Do you have a musician in the family?  Soundproof the walls, add extra electrical outlets, and clear the floor for your own concert hall. 

  • - Give your workout equipment a home in the extra room, use a small television for workout entertainment, install a comfortable bench, hooks for small towels, and include a small fridge for water and smoothies when you’re finished with exercising. 

 

Not Just for Dining 

Busy families don’t always have time for a sit-down meal at the dining table, but there’s no need to use it for special occasions. 
 

  • - Use one end of the table for office space.  A dining room is less busy than other rooms, and you can get more done there without distractions.  Use a laptop for the space, take advantage of wireless printing, and use part of a china cabinet for supplies so you won’t fill the room with office clutter. 

  • - Consider using a smaller table or remove the leaf from a large table.  Place some comfortable seating at one end of the room, add a sideboard to use for a coffee/tea bar, and have an after-dinner seating area. 

  • - If your home lacks an extra living area, why not use it for family time instead of a dining area?  Treat the space as you would a den, and furnish it with sofa, chairs, and television for a cozy family room. 

 

There are no rules that say a room must be used for what the blueprint says.  Your home is just that--your home.  You know best how you and your family can use a space.  It doesn’t have to cost a lot; shop thrift shops and tag sales, or use what you already have.  You can add extra space to your home without picking up a hammer and nail!

 

Courtesy of Chester County PA Realtor Scott Darling.

 

Photo credit: livingroomideasq.blogspot.com