I recommend that all prospective home buyers and sellers read this important article addressing confusion surrounding – and limitations of – the plethora of online Automated Valuation Estimates (or AVM’s) like the Zillow “Zestimate”. Source: UPDATED: Online Home Value Estimates Are NOT Appraisals
CLICK HERE to view some very interesting home sales statistics for Chester and Delaware counties. You can also use this link to compare how our local Main Line market compares to other luxury home markets. A great perspective! Source: https://www.mansionglobal.com/luxury-market-lookup?loc_one=Delaware%2C+PA&loc_two=Chester%2C+PA&locale=
Home equity loans are no longer tax-deductible, under the Tax Cuts and Jobs Act of 2017. Read this Forbes article for more information. Source: Suburban Realtors Alliance and https://www.forbes.com/sites/nickclements/2017/12/28/borrowers-lose-home-equity-tax-deduction/#752dc3826cdf
Delaware County Council has contracted with Tyler Technologies Inc. to provide real property appraisal services for the County’s 2020 general reassessment. The reassessment, which was court ordered in March 2017, will be effective for the 2021 tax year. The project, which is being implemented through the county treasurer’s office, will utilize Tyler’s appraisal and street-imaging … More Data collection for Delaware County reassessment underway
The Tredyffrin/Easttown Board of School Directors last week unanimously adopted a 2018-2019 preliminary budget proposal that would increase taxes on the average home by $178 per year. The preliminary budget includes $147.2 million in expenditures, with a planned 2.42 percent increase in the property tax rate. School officials say the tax hike will help to … More Tredyffrin/Easttown school officials plan 2.4 percent tax hike
With the new tax law in effect, the National Association of Realtors (NAR) has released estimates on how home prices will trend in 2018 for each state. NAR considered the following four factors as driving forces of the housing market in 2018: Current housing market conditions and momentum New tax law impact Interest rate effect Employment … More Tax Reform Impact & Home Price Outlook for 2018
CLICK HERE to see projections from National Association of Realtors for home price growth across the country in the coming year. In Pennsylvania, we expect moderate increases of 2-3%, consistent with other areas in the Northeast. Source: In Which States Do REALTORS® Expect Highest Home Price Growth in the Next 12 Months?