Nov 30

Should You Consider Listing Your Home During the Holidays?

As the holidays approach, I’m always asked the same questions:

  • Should we keep our property on the real estate market or take it off?
  • Do we list now, wait until after the first of the year, or hold off until spring?

In the past, conventional wisdom said you shouldn’t try to sell a home during the holidays. However, the old thinking doesn’t really apply any longer — thanks to the Internet and hectic lifestyles as well as traditional rules of supply and demand.

Whether to sell or not at the end of the year has to do with your particular situation and market. But in general, here’s some real estate advice about why you should consider listing your home during the holidays, or even in January.

Buyers are always looking for properties online

Historically, potential home buyers felt that the holidays were too hectic for home shopping. They were preoccupied with planning parties, cooking meals, buying presents or planning vacations. Going out with a real estate agent to look at properties conflicted with a busy holiday schedule. This made perfect sense — before the Internet, smart phones, and tablets came along.

In my opinion, traditional buying and selling seasons have evolved as a result of instant, ubiquitous access to property listings. Someone who is serious today about buying real estate is always looking. They may check out the latest listings on their Zillow iPad app before bed or while waiting for their kid’s soccer game to end.

Our hectic lifestyles also play a role. Often, serious buyers are working hard and not shifting into holiday mode until the last minute. Even during the holiday break, they’re squeezing in work. They’re already staying “on the grid,” so why not continue monitoring the real estate listings in their area too?

The inventory — and the competition — is usually lighter during the holidays

Despite our always-on access to property listings today, there’s still a lingering perception that the year-end holidays aren’t a good time to list a home. Similarly, if your property has been sitting on the market for months, conventional wisdom says to give it a rest during the holidays. Given these factors, we end up seeing the inventory for good homes tighten up this time of year. But buyers are still out there looking at real estate and no doubt wishing there were more properties available.

In fact, if I have a seller who has been talking about selling, is truly motivated, is flexible on timing, and has a home that truly sparkles, I often suggest they list right after Thanksgiving. There’s still a window of several weeks to get buyers into your home before the end of the year. And those buyers flipping through listings at their kid’s soccer game will be so excited to see something new and awesome hitting the market — especially if there’s a lack of good inventory in their area. Those motivated soccer moms and dads are the ones who’ll take the time to see your home, regardless of what the calendar says.

Home been on the market too long? This could be a great time to lower the price or change your strategy

If your property has been sitting on the market for months, most buyers and their agents will see it as stale or overpriced and disregard it — no matter how great it is or how light the competition currently is.

In that scenario, it’s time to take action, and the year-end holidays can be a golden opportunity to shift course. Making a dramatic price reduction or overcoming some major obstacle that has been preventing the sale might be just the right thing to do this time of year. If you had lower offers early on but you weren’t ready to accept them, or you keep hearing that there are issues with the way your property shows, this could be your chance to show the market you’re listening and serious about selling. The motivated buyers will notice you and take a look.

You even stand a chance of getting a sale closed before the end of the year; I’ve seen it happen. As always, before you make any big changes, talk it over with your real estate agent.

Don’t want to be bothered during the holidays? List your property in January

Admittedly, the thought of keeping the house clean, holding open houses, and vacating to accommodate last-minute showings during the holidays is a deal killer for some. If so, consider listing your property after New Year’s Day.

Traditionally, we don’t see much inventory coming on the market in January. It’s cold in most places, and many sellers prefer to wait until the spring, a more conventional time to sell. As a result, we don’t see much inventory in January. And yet, each January my phone rings with new buyers wanting to get into the market. Or I’ll hear from on-the-fence buyers who may have lost interest earlier in the year and are now suddenly motivated again.

There’s something about the beginning of a new year thatgalvanizes people. The motivation to buy could be due to year-end tax planning, with buyers seeing how much they owe and how owning a home could help. It could be because of New Year’s resolutions to finally stop spending money on rentals and invest in property. Maybe a rich relative gave them money for a down payment (wouldn’t that be nice?).

Whatever the motivation, for sellers it means one thing: There can be an increase in demand at a time when inventory is traditionally low — resulting in less competition from other sellers. If you’re motivated to sell your home, you’ll have an even more “captive” audience in January.

Nov 22

9 ways to keep lid on energy bills

Air leaks can infiltrate surprising places

No one likes wasting money, especially in these tough economic times. So it certainly makes sense — dollars and cents — to make a small investment of time and supplies to close up those heat-wasting air leaks around your home. It’ll pay back big dividends in reduced energy bills and a warmer, more comfortable house this winter. So let’s look at some of the areas where those drafts may be lurking, and see how to take care of them.

1. Doors and windows: This should be an obvious one. If you can see gaps between your siding and your windows or exterior doors, close them up with a bead of clear or paintable acrylic latex caulk. Larger gaps can be filled with foam backer rod before applying the caulking.

2. Exterior penetrations: Some of these areas are going to be obvious, while some may take a little bit of searching. Some examples of exterior penetrations where air can leak into the house include exterior faucets, dryer vents, exterior electrical outlets, exterior light fixtures, holes that have been drilled for phone and TV cables, conduit penetrations, exit points for plumbing drains, and penetrations for air conditioning lines. Closing these penetrations may require a variety of different techniques, including caulk, expanding spray foam, or, in the case of electrical boxes and fixtures, specific gaskets that are designed to fit the boxes.

3. Exhaust-vent covers: Dryer vents, range hood vents, bath fan vents, and other interior ventilation equipment typically terminate outside the house in a plastic or metal cover that has one or more louvers on it. The louvers are designed to be in the closed position whenever the fan is not in use, so that outside air doesn’t leak in. Check all of these louvers to be sure they’re closing completely, with no air leaks. If they aren’t, you can adjust the spring tension to hold them closed more tightly; add foam weatherstripping tape for a more air-tight seal; or replace the entire vent cap with a new one.

4. Gaps around interior vents and recessed lights: Inside your home, heated air can be leaking out around that same ventilation equipment, where vent pipes pass through the walls or ceiling, or where vent covers meet wall and ceiling surfaces. Recessed light fixtures can also be real air-leakers. Around the vent pipes and recessed light cans, seal any gaps with caulking. For the vent covers and recessed light covers, remove the covers, then adjust the springs and/or add foam weatherstripping tape to create a tight seal between the cover and the ceiling.

5. Heat-duct penetrations: Gaps around heating-duct cans where they pass through the floor or wall allow cold air to enter from the crawl space, while gaps around ceiling-duct cans allow heated air to escape into the attic. To close those drafts, first remove the register, then use a combination of caulking and/or metallic duct sealant tape to close any gaps between the sheet metal cans and the floor, wall or ceiling surface.

6. Fireplaces and woodstoves: Lots of gaps can occur around these appliances. With a conventional fireplace, keep the damper closed except when burning a fire to prevent heated air from escaping up the chimney. Consider investing in a set of air-tight doors, which close off the air leaks and also make your fires more efficient. Look for gaps around woodstove and gas fireplace flue pipes, and air leaks around masonry chimneys. Use a metal collar if necessary around flue pipe penetrations, and seal gaps with heat-resistant sealant specially formulated for this application.

7. Attic and crawl space hatches: These can be real air losers if they’re not weatherstripped, so take care of that with some foam tape. Make sure the hatches are insulated as well.

8. Interior doors to unheated spaces: If you have any interior doors that lead to unheated spaces, including basements, garages or attics, be sure the doors are weatherstripped to prevent air leakage. If possible, replace older, hollow-core doors with solid-core or, better yet, insulated metal doors.

9. Sill plates and penetrations: This one’s not as easy to deal with, but it’s well worth the effort to try to do whatever you can with it. Air can leak both into and out of the house through gaps where the sill plate meets the foundation or the siding, and around plumbing and wiring penetrations drilled through wall plates in various areas. If you have a gap between your siding and the bottom of your exterior wall, especially in older homes where the use of sill sealers was not a common practice, consider closing up this big air gap with a bead of caulking or expanding foam. In the basement, crawl space and attic, if you can access any of the pipes and wires that pass through the wall plates, seal the penetrations with expanding foam.

Nov 22

Investors beating banks at REO game

Red tape, rehab standards only some of the reasons for discrepancy

After millions of dollars in investments, adding thousands of new staff positions and even contracting to third-party brokers, the large banks still can’t sell foreclosed properties fast enough to ease the vast overhang of REOs bedeviling their books.

Meanwhile, on the dusty streets of places like Glendale, Ariz.; San Bernardino, Calif.; and Henderson, Nev., independent investors have been buying up defaulted properties, rehabbing them and putting them back into the market at a pace that makes the banks look geriatric in comparison.

“Third-party investors are much faster at reselling foreclosures than banks, though the difference varies by area,” said Sean O’Toole, founder and CEO of ForeclosureRadar.

ForeclosureRadar, based in Discovery Bay, Calif., focuses only on Western states, but its research is still very relevant and predicative.

According to ForeclosureRadar data, Oregon banks took 156 days longer to sell foreclosure inventory than third parties; California, 104 days longer; Arizona and Nevada, 70 days longer; and Washington, 52 days longer.

“ForeclosureRadar statistics show real estate investors continue to far outperform banks in dealing with distressed properties,” O’Toole said. “Yet, politicians and bureaucrats are putting pressure on banks to become landlords, which will hurt local economic activity as fewer properties are made available to local investors, also impacting their Realtors, contractors and property managers, as well as homebuyers in need of affordable housing.”

The major blank spot in the pure data for me was, why, after so much investment and staffing, big banks still couldn’t get rid of their REOs at a consistent pace. That was the question I posed to O’Toole and to the founder and CEO of another foreclosure Web program, Brad Geisen of Foreclosure.com in Boca Raton, Fla.

O’Toole and Geisen agree on a number of key points, the first being that self-interest on the part of investors is a huge motivator.

“Investors are doing this on their own behalf; it is their money involved,” Geisen said. “They want to settle as quickly as possible with maximum returns.”

O’Toole added, “Investors put forth their own money, and the return correlates with how quickly they get that property cleaned up and back out on the market.”

Certainly, the banks would have the same goals, right?

That motivation isn’t as clear for banks, O’Toole said. “Certainly, the banks are saying that is their goal, but the individual managers within the banks and even the Realtors who work for the banks don’t have a couple of hundred thousand of their own money in the deal. If they did, they would have higher motivation.”

Most banks pawn off all the work onto independent brokers, who are in the deal for one thing: to get a commission, Geisen said. “They don’t have a financial interest in what a property sells for. They are going to do the least amount of work they can to sell that property. What you have in most cases is the banks relying on what the brokers tell them for their decision-making.”

But haven’t the banks hired Realtors?

“The banks have certainly hired a lot of people with great resumes on the real estate front,” O’Toole said. “And they are using experienced Realtors. As an investor, I’ve used REO brokers in the past and they have done a fabulous job. This has more to do with efficiency of a large organization versus the efficiency of the individual. Most productivity happens inside a small business, not a mega-corporation. Individuals and small businesspeople are more motivated and productive.”

The problem with big banks is red tape, Geisen said. “A lot of times the banks set up policy, and things have to go that way. In some scenarios it works well and it other cases it doesn’t. One policy across the board to plan for every asset they have doesn’t take into account differences.”

The key point being that investors are quick to adapt to changes in the market.

O’Toole uses the example of cash-for-keys (tenants who are victims of foreclosure receive cash in exchange for surrendering the keys to the house and vacating). “When I was doing foreclosures back in 2003 through 2005, we rarely paid a homeowner more than $500 after a foreclosure,” O’Toole said. “Now, it is not unusual for investors to pay $5,000 for the tenant to move out quickly. Investors are flexible and look at the individual situation rather than put in place blanket rules that are executed by junior managers and dictated to Realtors without giving the Realtors the same flexibility that investors have.”

Perhaps the biggest problem the banks are having is deciding when to rehab a foreclosed home and when not to.

“Some banks have a policy of ‘We don’t renovate any of our properties,'” Geisen said. “Other banks have policies where they renovate all their properties even in areas where it doesn’t make sense, as renovation costs are far too great. Bank policies need to be flexible, and they just are not.”

In the last housing bust, back in the early 1990s, contractors were sent in to clean up homes, install new carpet and repaint. Investors still do these things, which many will say is a key reason why these homes sell faster. Banks, O’Toole said, “rarely do more than (take the) trash out, (and) rarely do much in the way of repairs, repainting or recarpeting.”

“Our California customers buy somewhere between a half billion and a billion dollars worth of property every month and are hungry for more,” O’Toole said. “The primary issue here is, the banks are not reliable as to how they put this product out through the trustee sale mechanism. They could do a better job.”

Steve Bergsman is a freelance writer in Arizona and author of several books. His latest book, “Growing Up Levittown: In a Time of Conformity, Controversy and Cultural Crisis,” is now available for sale on Amazon.com.

Nov 22

Assimilation Tomorrow: How America’s Immigrants Will Integrate by 2030

Washington, D.C.—The Center for American Progress today released a first-of-its-kind study that projects today’s immigrants’ integration patterns through the year 2030. The report, “Assimilation Tomorrow: How America’s Immigrants Will Integrate by 2030,” is authored by Dowell Myers, professor in the School of Policy, Planning, and Development at the University of Southern California, and John Pitkin, senior research associate in the USC Population Dynamics Research Group. Myers’s report finds that at astonishingly high levels, immigrants are projected to learn English, buy homes, acquire citizenship, and attain solid economic footing in the United States.

The authors of “Assimilation Tomorrow” track the cohort of immigrants that arrived during the 1990s, a decade of robust levels of immigration. Among the most important findings, the authors illustrate that while only 25.5 percent of immigrants from the cohort owned their own homes in 2000, by 2030 70.3 percent are projected to own their own homes, on par or slightly higher than the homeownership rate among the native-born.

Groundbreaking Study Projects Immigrant Integration Patterns to 2030

As Myers commented at a recent Center for American Progress event, “This is the American Dream … and that achievement is something you don’t hear about very often, because it doesn’t support an agenda held by restrictionists.”

Rather than hinder the economy, immigrants will increasingly become the future homebuyers of America, helping to jump-start our housing market.

Hispanic immigrants as well are projected to make great strides. Contrary to the assertions of some who argue that Hispanic immigrants are not assimilating and will not assimilate to American life, the authors find that these newcomers follow the same upward trajectory as immigrants overall, albeit from a lower starting point. Homeownership, for example, jumps from 21 percent of the Hispanic immigrant population in 2000 to 67 percent in 2030.

Another indicator of interest from a political standpoint are immigrants’ naturalization rates that similarly rise from 13 percent to a substantial 70.6 percent by 2030.

These remarkable achievements are based on long-term settlement and deep roots in America. CAP Vice President for Immigration Policy and Advocacy Angela Kelley notes, “This research is a must-read for any policymaker who is concerned that America’s newcomers aren’t becoming new Americans and for politicians who think the immigrant community can be ignored.”

Nov 21

BUYERS: How To Find Out What Is In Your Credit Report!

Anyone who has ever had a bank account, mortgage, credit card, car loan, or account with a retail store will invariably have a credit rating. Most information in your credit rating comes from companies you have credit with, as well as from certain public records such as tax liens, bankruptcies, judgments and lawsuits. It is important to know and understand your credit rating, how the information is compiled, and how it affects your ability to acquire a loan for your new home.

Credit reports are usually divided into five sections:

  1. Your credit history.
  2. Who has reviewed your credit history.
  3. Information you have provided for the credit company.
  4. Specific identification information about you.
  5. Explanatory notes and comments.

Different states have different requirements and it is important that you check on what applies to you. There are three major credit-reporting agencies, Trans Union, Experian and Equifax.

Your REALTOR can recommend a reputable mortgage lender who has the reputation of providing excellent service and good rates. This lender will be able to immediately pull your credit report for your review and can make recommendations of how to make it better. The better your credit score, the higher your credit rating will be.

Choose your agent wisely.

Working with a full-time professional real estate agent is a must. Ask questions of your agent. Find out how knowledgeable he or she is about houses currently for sale in your price range and also of houses that have recently sold. Can your agent recommend a good lender that has the reputation of excellent customer service and low rates? Does your agent ask questions of you to have a full understanding of what you are looking for to help you get the most home for the money?

Credit Report

Credit Report

Nov 21

31 Pennsylvania Nonprofits Reap More Than $160,000 in Education Grants From Verizon

Landline Customers’ Donations Through Verizon’s ‘Check Into Literacy’ Program Support Education Across the Keystone State

PR Newswire

PHILADELPHIA, Nov. 9, 2011

PHILADELPHIA, Nov. 9, 2011 /PRNewswire/ — Thanks to the generosity of Verizon Pennsylvania landline customers who participated in the company’s Check Into Literacy program, 31 nonprofit organizations across Pennsylvania will share more than $160,000 in grants to support education programs, particularly those that use technology for teaching, learning and reaching more people.

“This program is a classic example of a little bit going a long way to address a significant challenge for our society,” said Douglas R. Smith, vice president of external affairs for Verizon Pennsylvania. “Verizon customers who participated in the program have shown how much they care about education and our communities, and we applaud them for it.”

The program allows Verizon landline phone customers to support education by checking a box on their monthly phone bills to make a $1 tax-deductible donation. Verizon then distributes these donations to local organizations that serve the individual states in which the customers live.

Contributions from Pennsylvania residents are part of more than $585,000 given this year to literacy organizations throughout the country through the Check Into Literacy program.

Grants have been awarded to the following Pennsylvania organizations:

After School Activities Partnership, Philadelphia – $10,000
Andrew Jackson School, Philadelphia – $3,000
Bayard Rustin High School, West Chester – $5,000
Beaver County Association for the Blind, Beaver Falls – $5,000
Benjamin Franklin Elementary School, Philadelphia – $5,000
Clarion County Literacy Council, Clarion – $5,000
Downingtown STEM Academy, Downingtown – $4,300
Erie Times News in Education, Erie – $5,000
Fayette County Community Action Agency, Uniontown – $1,500
Foundation for Reading Area Community College, Reading – $4,200
Free Library of Philadelphia, Philadelphia – $25,000
Grands As Parents, Philadelphia – $2,081
Indiana Free Library, Inc., Indiana – $5,000
Literacy Council for Schuylkill County, Pottsville – $5,000
Mayor’s Commission on Literacy, Philadelphia – $5,000
Mid-State Literacy Council, State College – $5,000
North Wales Area Library, North Wales – $5,000
Panther Valley School District, Lansford – $5,000
Penn State University – Brandywine, Media – $5,000
Pennsylvania Association for Adult Continuing Education, Pittsburgh – $10,000
Philadelphia Academies, Inc., Philadelphia – $5,000
Philadelphia READS, Philadelphia – $5,000
Philadelphia Young Playwrights, Philadelphia – $5,000
Silver Springs-Martin Luther School, Plymouth Meeting – $3,500
St. Anthony’s Youth Center, Easton – $5,000
St. Christopher’s School, Philadelphia – $2,000
Temple University – Grandma’s Kids, Philadelphia – $2,500
The Literacy Center of the Lehigh Valley, Allentown – $4,300
Tickets for Kids, Pittsburgh – $2,000
United Neighborhood Centers of NEPA, Scranton – $5,000
Washington County Literacy Council, Washington – $5,000

The Verizon Foundation, the philanthropic arm of Verizon, uses its technology, financial resources and partnerships to address critical social issues, with a focus on education and domestic violence prevention. In 2010, the foundation awarded nearly $67 million to nonprofit agencies in the U.S. and abroad. Through Verizon Volunteers, one of the nation’s largest employee volunteer programs, Verizon employees and retirees have volunteered nearly 6 million hours of community service since 2000. For more information on the foundation, visit www.verizonfoundation.org.

Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, with more than 107 million total connections nationwide. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries, including all of the Fortune 500. A Dow 30 company with $106.6 billion in 2010 revenues, Verizon employs a diverse workforce of more than 195,000. For more information, visit www.verizon.com.

VERIZON’S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon’s News Center on the World Wide Web at www.verizon.com/news. To receive news releases by email, visit the News Center and register for customized automatic delivery of Verizon news releases.

SOURCE Verizon

Nov 21

Predictions from NAR for 2012

Monday, November 14, 2011— This week the Miami Association of Realtors, in coordination with the National Association of Realtors (NAR), hosted the annual International Real Estate Congress in Miami, which was attended by hundreds of real estate professionals from far away as Russia, Brazil, Mexico, France, Spain and China.

Over the course of this 2-day conference many local, national and international real estate economists, practioneers, developers, bankers and lawyers learned what to expect from the U.S. housing market in 2012.

During a one-hour keynote presentation by Lawrence Yun, NAR’s Chief Economist, a detailed presentation showed current housing trends, historical stats and market forces at work at both the local, national and international levels.

According to Yun, U.S. home sales are now running parallel with sales levels from 13-years ago, yet there are approximately 3 million new people added to the U.S. population each year, creating an enormous pent-up demand yet to be realized in the marketplace.

Yun further stated that over 40 million multi-generational family members and friends are now “doubling-up” and living together because of tough economic times–such as, kids moving back in with parents or grandparents, or multiple families sharing a single residence — who would typically buy homes under normal market conditions.

Origin of Foreign Buyers for Florida Property Purchases in 2011

41% North America (Canada and Mexico)

26% Latin America (including the Caribbean)

23% Western Europe

10% All others

Yun also pointed out that current new home starts are at an all-time low, going back as far as the end of World War II, which indicates that the U.S. market will likely be experiencing a housing shortage in the coming years, once there is a positive turn in the economy and people start getting jobs and buying homes again at normalized levels.

Nov 18

HARP Mortgage Refinance Program

What is the Home Affordable Refinance Program (HARP)?

Announced in March 2009, HARP is a federal government program designed to help 5 million underwater or near-underwater homeowners refinance into a fixed loan with a lower monthly payment. However, as of Aug. 31, only 894,000 borrowers have refinanced through HARP. On Oct. 24, 2011, President Obama announced an overhaul to the HARP program with the intent of reaching more underwater homeowners. The expanded HARP program – also referred to as HARP 2.0 – will take effect on December 1, 2011 for borrowers with a loan-to-value ratio of less than 125 percent and in the first quarter of 2012 for borrowers with a loan-to-value ratio of greater than 125 percent.

Why didn’t the original version of the HARP program work?

The original version of HARP had many roadblocks that made it difficult for homeowners to refinance. For example, the program only assisted those with mortgages with a loan-to-value ratio between 80 percent and 125 percent, but in many hard-hit housing markets across the country, homes have lost more than 50 percent in value making those homeowners ineligible for the program. Read more about why so few homeowners have been helped by the program.

How will the HARP program change?

Some of the major changes to the HARP program include:
  • No underwater limits
    Borrowers will now be able to refinance regardless of how far their homes have fallen in value. Previous loan-to-value limits were set at 125 percent.
  • Eliminating appraisals and underwriting
    Most homeowners will not have to get an appraisal or have their loan underwritten, making their refinance process smoother and faster.
  • Modified fees
    Certain risk-based fees for borrowers who refi into shorter-term loans will either be eliminated or modified.
  • Extended deadline
    The end date to get a HARP refinance has been extended to Dec. 31, 2013.

How do I find out who holds my mortgage?

To be eligible for the HARP program, your mortgage must be held by either Fannie Mae or Freddie Mac. To “look up” your mortgage, check Fannie Mae. If you can’t find your mortgage there, check Freddie Mac.

How do I know if I am eligible for HARP?

You can find out if you are eligible for HARP by contacting me directly.

Nov 18

Penncrest Football Closing Strong

Penncrest football had a very slow start to their season but once the team got what their first-year coach was teaching, the Lions began to roll.

The improvement came in small increments, in little areas, and was very, very gradual. But once Penncrest got down what first-year coach Rick Stroup was teaching, the Lions began to roll.

After not scoring a point in its first four games, Penncrest finished 2-8 overall, but closed with two-straight victories—the second a fourth-quarter comeback that resulted in a 28-21 overtime victory over Radnor.

“It was a great way to go out,” said Lions’ junior quarterback Shane Donnelly, whose growth came with each passing week. “Our entire offense is returning next year, except for our fullback. I was extremely proud of our team, because we hadn’t scored a point in our first four games this year. We scored the one touchdown against Haverford, and once we did, it was a big thing of relief. After that, we just played. We started playing some pretty strong games.”

Donnelly senses bigger things will come next season, and he’ll be a better leader for the adversity he faced this season.

“I’ll be the first to admit I was a poor leader in the beginning of the year,” Donnelly said. “But I had a talk with [quarterback’s coach] Paul Milewski and he asked me a simple question that made me think, ‘Why are you playing football.’ He pointed out that I wasn’t working hard enough. My attitude changed. I started to look more at what I had to do to become better.”

Nov 18

Vice President Joe Biden came to Media

Scenes from around Delco…Vice President Joe Biden came to Media, everybody’s hometown to the delight of fans. The parade was a huge success honoring veterans. On the roof of the courthouse security kept everyone safe. The bands played on. Football is still being played on the fields as playoffs continue.

MEDIA, Pa. (CBS) — The annual Veterans’ Day parade in Media (Delaware County) was a little different this time around, with vice president Joe Biden in attendance.

Security kept the crowd in front of the courthouse down a bit.  Some 300 listened as Biden hailed those who served their country, particularly the two-million-plus young people who stepped up after America was attacked a decade ago.

“This is not Generation X,” he said.  “This is Generation Excellent.  These are the finest group of warriors that the world has ever seen, without exception.”

Biden noted that they had to “fight through hell” in Iraq and Afghanistan, only to “fight like hell” to find a job once they got home.  And that, the vice president said, has to change.

Private industry has pledged some 100,000 jobs to veterans, and Biden heralded the US Senate’s action in approving a veterans’ jobs bill.  He demanded the House do likewise.

 

 

Nov 18

Borough Council Legislative Meeting Votes, November 17th, 2011: No tax hike, 3rd Street Dam Status

Borough Council met on Thursday, November 17th, 2011 at 7:30 PM. Jim Cunningham was absent from the meeting.

All votes during the meeting were unanimously in the affirmative for all legislative actions.

3rd Street Dam Status

Pete Alyanakian gave an update regarding the 3rd Street Dam committee. He indicated that the committee met on November 3rd regarding design options with legal counsel. Mr. Alyanakian indicated that any change in the design would require approval by both parties involved in the stipulation, meaning Delaware County, and Broomall’s Lake Country Club. He indicated that the 20% funding promised by the state would be discussed in a meeting in the next week with Dominic Pileggi, regarding the RCAP funding, and discussing whether the funding would also apply to any changes made.

He indicated that on November 4th, a meeting of the 3rd Street Dam Committee, Schnabel Engineering, and PennDOT confirmed that the state 80% grant will pay for 80% of whatever the borough decides to do: A breach, a green-way, or a single or multi-lane roadway. He indicated that if council chooses other options, PennDOT will pay for the alternative options. He clarified that the design work was put on hold in July, and that the design is 50-60% completed. He indicated that the design was put on hold as the borough had not decided on the width of the road.

Lastly, he spoke regarding to the citizens advisory committee as requested by the Friends of Glen Providence Park and other residents. He stated that they have looked at various options for the committee suggested by the Friends group and by the borough manager. They have received 6 resumés, and the committee was in unanimous agreement that the citizens advisory committee should be appointed by the new council in 2012.

Preliminary Budget Approved

Peter Williamson presented the preliminary budget, and indicated that it does not have to be in balance, and that Borough Council must present a preliminary budget in November. The final budget, approved in December, must be in balance. He indicated that the preliminary budget was in balance.

Based on a direct question from Sue Serbin, reporter for Media Town Talk, he indicated that there would be no tax increases in 2012.

The highlights:

  • $7.4M operating budget, slightly higher than 2011, due to increases in gasoline costs, and salary increases.

He indicated that there were increases to groups the Borough makes contributions to, such as:

  • Library, Fair Trade Commission, Media Arts Council.
  • He added that there was a new line item for the Economic Development Committee

Capital budget is significant this year due to repairs needed in town infrastructure:

  • Repairs needed for Parking Garage: $125K into Parking Garage.
  • North Olive Street: due to storms, storm sewers in that part of town have failed. Our engineer has designed a significant replacement which will last a lifetime.
  • Regular ongoing expenses for 3rd Street Dam, while reimbursed by the state, need to be in the budget

Pete Alyanakian noted that this was the first balanced budget he had heard of in November, and highlighted the significant capital requirements next year. The preliminary budget was approved unanimously.

Celebrate Media

Councilwoman Dawn Roe spoke briefly regarding the Celebrate Media event in the  past week went well. She stated that the event on Thursday went well and had a bigger turnout than expected. The Friday event with Blackthorn was also a great success, she said. She said that the committee would like to stay together and promote themselves, and to improve communication throughout the borough and within the non-profit groups.

She also wanted to thank the borough for the donation to the event.

She noted that the revenue numbers for the event were not available yet, but would be reported in the working meeting next month.

Pete Alyanakian commented, “Attendance was not what we hoped for,” but congratulated the non-profits for working together.

Ms. Roe said that they had 100% participation from the non-profit groups, and Mr. Alyanakian added that the events showcased the theater in a positive way. Eric Stein added as clarification that Media Borough donates funds to all of non-profits involved in the event in the annual budget.

Other Items of interest

Some items of interest for residents:

  • The CMAQ Project can be seen along Baltimore Avenue with new lights, and new curbs for wheelchairs at almost every intersection. A question was asked about an updated timeline for the project, and Borough Engineer Bob Johnston stated he would get an update. Dr. Eric Stein requested an updated status report to avoid having issues during the holidays. Mr. Alyanakian referenced the 5 points traffic lights and changes to be made to avoid having downward-pointing lights, and possible improvements to confusing signage.
  • Sewer System Smoke Testing in the Southeastern parts of Media: During storms, Little Washington Waste Water (LWW) has noted that sewage flow increases dramatically, indicating an issue with the sewage systems and the storm water management systems. Media Borough in cooperation with LWW will be testing the systems by literally blowing smoke through the sewage system to find where leaks are occurring. Residents south of Baltimore Pike and East of Monroe street should be aware of the testing in coming weeks, “in case they see smoke coming from their toilets” said Peter Williamson.
  • A new Parking Meter Debit Card Program will be introduced over the holidays, with $300 worth of cards issued to the MBA by Media Borough. Kevin Schramm, chair of the Media Business Authority, was asked to speak and said the program is worthwhile to help raise awareness of the card program, and to bring people back to Media. Councilwoman Monica Simpson asked how members of the public would reload the card. Borough Manager Jeffrey Smith indicated that the card could only be reloaded at the borough offices.
  • Media Borough is seeking to fill a vacancy on the Environmental Advisory Council
  • Media’s Jazz By Night celebration was named as one of the Top 8 Events by the PA Festival Association
  • Media/Upper Providence Library is needing repairs and is raising funds. Employees from Vanguard  cleaned up the library on Veterans Day, Spietzle architecture group working with the Library to raise money for library, and the MBA gave a check for $500 to the library for ongoing efforts
  • There will be Public Hearing next month before the legislative meeting for borough land subdivisions: Chairman of Planning Commission Kevin Matson has been working with Planning Commission and some Community Design Committee members to re-do land subdivision ordinance and land development ordinances.
  • Monica Simpson requested feedback on the new borough website, and added that anyone wishing to be notified in emergencies register their phone number and address on the  website to be added to the emergency contact list.

Public Comments

At the start of the meeting, after unanimously approving the meeting minutes from the Workshop Meeting on October 6th, the Special Meeting Minutes (regarding the 3rd Street Dam) on October 13th, and the Council Meeting minutes from October 20th, comments were taken from the public.

Luic Barnieu, a representative from the Media Business Authority, presented a check on behalf of Dining Under the Stars to donate turkeys to members of the community in need, in conjunction with the Media Police.

Paul Robinson, a resident and councilman-elect, congratulated borough employees, Jim Jeffery, Larry Bok, the highway crew, and Emergency Services Management crew for their handling of the Veterans Day Parade. He also extended congratulations to the Media Police Department, as well as the  veterans in the parade. Borough Council President Pete Alyanakian also congratulated Bob Dimond and Mayor Bob McMahon, and the attending crowd gave a round of applause.

Paul Indorf, a resident from 4th Street, also congratulated the borough on the Veterans Day parade. Then, referencing the October 13th Special Meeting for the 3rd Street Dam meeting minutes, Mr. Indorf had concerns regarding the audio recording of the meeting. Councilman Dr. Eric Stein interjected that a DVD of public meetings is available in the library, however, Borough Manager Jeffrey Smith mentioned that this meeting was not videotaped, and the official audio record had “technical difficulties.”

Mr. Indorf went on to discuss a letter he distributed prior to the election. He continued to discuss a meeting held between the 3rd Street Dam committee and PennDOT. He asked if Mr. Alyanakian had lied to him regarding the time of the meeting. Mr. Indorf had asked at the workshop meeting if there was “a meeting with the engineers,” and Mr. Alyanakian responded in the negative. He then asked if Mr. Alyanakian had lied to him regarding the meeting, to which Mr. Alyanakian responded, “No.”

Mr. Indorf went on to request that Mr. Alyanakian recuse himself from any and all 3rd Street Dam matters, due to a conflict of interest of Mr. Alyanakian and the 3rd Street Dam project.

Councilman Peter Williamson interjected that typically members should recuse themselves from voting on matters when there is a financial interest at stake. Mr. Indorf continued and said he had read Section 12 of the Borough Code, and referenced Mr. Alyanakian’s known association with the County and his association with the swim club. Mayor Bob McMahon interjected and indicated that Mr. Alyanakian‘s associations are well known among council, and asked for some specific evidence from Mr. Indorf, and asked him to move on. After some further discussion, Mr. Indorf ended his statements.

Bob Dimond, tax collector for Media Borough, wanted to personally thank everyone who worked on the parade, and knowing his wife was watching, he referenced a quote from the speech where Vice President Joe Biden said that he and Bob Dimand had one thing in common: They were both in love with his wife, Dale. Mr. Dimond then made a humorous reference that he was speaking up so she wouldn’t be on her way to Washington.

Letitia Jeavons, a resident of Media, asked if anyone from the PA Department of Environmental Protection had weighed in on Dam Safety committee and on the ownership issue with the 3rd Street Dam. Mr. Alyanakian referenced the stipulation and said that the borough would not have been able to move forward without settlement of the ownership issue and that he felt that the state felt settled in that matter.

Mr. Alyanakian congratulated the Councilmen-elect in the room, Kent Davidson, Brian Hall, and Paul Robinson, and wished them luck in the coming term.

Other Votes Approved

  • The liquor license for Spasso’s Inc. (at 1 West State Street) was updated to reflect the accurate comany name. The License Number is R-4813.
  • Updates to traffic codes to reflect changes made in the past year (for example, the stop sign at 3rd and Lemon Street)
  • Approved the mass gathering permit for Veterans Day Parade after the fact
  • Authorize amendments to the residential parking ordinance (to reflect changes in residential parking changes, added and removed spaces, etc.)
  • Dean Sherwin resigned from the Environmental Advisory Council due to moving out of town.
  • Payment of bill for $650,216.67 from the General Fund, $460.22 from the Recreation Fund, and $18,118.29 from the Capital Fund.
  • Approved repair work on Leaf Collection Machine: Accept low bid for $7700.16.
  • Accept Resignation/Retirement of Sandra Bennett from Police Department. She was a Parking Enforcement Officer, and Information Services officer within the department.

Final Comments

The meeting ended with public comments from Bob Dimond, the tax collector for Media, who thanked Sue Serbin for publicity for coverage of Veterans parade, and Courtney Elko for videos and coverage of the Veterans Day parade.

Addie Cianella gave thanks to Monica Simpson for her work with the Media Farmers Market and looked forward to the third year for the market.

Paul Indorf was the final speaker during the public comment and privilege of the floor and made a suggestion regarding the Parking Card and linking it directly to one’s bank account. He then  went on to talk about the Vice President’s comments at the Veteran’s Day Parade regarding the Vow to Hire Hero’s Act, and suggested that the house go through and approve it, and that Pat Meehan put forward the law in the house. He encouraged everyone to talk to Rep. Meehan to support that Act. He then went on to discuss recent meetings and talked at length, saying, “A lot of [us] … felt bruised and battled in this process, I think it’s a matter of looking at all possible options are and with regard to the dam …” and went on to introduce the concept of breaching the 3rd Street Dam.

After Mr. Indorf spoke for approximately 8 minutes, Bob McMahon requested Mr. Indorf not take as much time as he has said that in his years on council he has never heard anyone accuse a member of council of lying, and requested that he make his points in a more succinct manner in the future.

The meeting was adjourned after 1 hour and 27 minutes.

Nov 17

Zillow Zestimates differ greatly from Actual Appraisals

Zillow Zestimates differ greatly from Actual Appraisals.

Zillow Zestimates are every  homeowner’s best friend (and in a lot of cases their worst enemy). Hardly a week goes by that someone doesn’t say “Zillow Zestimate told me my home is worth (fill in the blank).”

These Zestimates that homeowners often present to appraisers can produce some interesting (and misleading) results.  So much so, that I thought we could do a comparison of 12 randomly selected appraisals that were completed by our office and match them up against their Zillow Zestimates.  Keep in mind that the appraisals have the benefit of a full property inspection by a human being.   Zillow uses public records and complex algorithms.  Here are the results.

Lafayette Hill house Appraisal: $600,000 Zillow: $529,000

(-11.83%)
Oreland house Appraisal: $230,000 Zillow: $209,500

(-9.78%)
Gladwyne house Appraisal: $585,000 Zillow: $633,500

7.66%
Roxboro twin Appraisal: $206,000 Zillow: $186,300

(-10.57%)
Conshohocken house Appraisal: $350,000 Zillow: $279,600

(-25.17%)
Blue Bell house Appraisal: $335,000 Zillow: $314,900

(-6.38%)
Chestnut Hill twin Appraisal: $300,000 Zillow: $334,200

10.23%
East Falls twin Appraisal: $411,000 Zillow: $427,100

3.77%
Center City condo Appraisal: $755,000 Zillow: $634,200

(-19.05%)
Penn Valley house Appraisal: $585,000 Zillow: $561,000

(-4.28%)
Rittenhouse Square townhouse Appraisal: $1,900,000 Zillow: $898,700

(-111.4%)
Chester Springs home Appraisal: $1,000,000 Zillow: $871,700

(-14.72%)

As you can see there are  pretty significant deviations between the appraised value and the Zillow Zestimate.  In one case, Zillow was off by more than 111% (this seems like a fluke) but, in other examples as close as 3.77% (not bad!).

Bottom line, Zillow is a tool…a starting point.  It’s wonderful for neighborhood data, graphs and general sales information.  It’s probably not the best place if you’re looking for assistance with making definitive decision.