A weekly roundup of real estate news, compiled by Suburban Realtors? Alliance week of: 6/24/2022
Delaware Canal State Park parallels the Delaware River from Easton, Northampton County, down to Bristol, Bucks County. Bristol Township's zoning board recently gave approval for several variances related to a 51-unit affordable housing complex.
Weekly News Briefs
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General?
Home sales continue to fall; sales prices continue to rise
Existing-home sales fell for the fourth consecutive month in May, according to the?National Association of Realtors (NAR). Total existing-home sales — completed transactions that include single-family homes, townhomes, condominiums and co-ops — fell 3.4% from April to a seasonally adjusted annual rate of 5.41 million in May. Year-over-year sales receded 8.6% from 5.92 million in May 2021. "Home sales have essentially returned to the levels seen in 2019 — prior to the pandemic — after two years of gangbuster performance," said NAR chief economist Lawrence Yun. "Also, the market movements of single-family and condominium sales are nearly equal, possibly implying that the preference towards suburban living over city life that had been present over the past two years is fading with a return to pre-pandemic conditions." The median existing-home price in May for all housing types exceeded $400,000 for the first time ever, at $407,600, up 14.8% from $355,000 in May 2021. That marks 123 consecutive months of year-over-year increases, the longest-running streak on record. Yun?said?the real cost of buying a house is skyrocketing as mortgage amounts and interest rates increase. NAR published a 41-minute video analyzing the latest data, titled “Hot or Not? Unpacking Today’s Housing Market.”
Source: NAR; 6/21/2022 & Marketplace; 6/20/2022
Rents across U.S. rise above $2,000 a month for the first time?
A?new report?from Redfin shows that nationally listed rents for available apartments rose 15% from a year ago. And the median listed rent for an available apartment rose above $2,000 a month for the first time. Government consumer price data show that the average rent Americans actually pay — not just the change in price for new listings — rose 4.8% over the past year, which is a higher than usual rate of increase. The increased demand for rentals from people who would rather buy a home is likely to continue. Mortgage applications to purchase a house are 21% lower than a year ago as rising interest rates continue to price more would-be homebuyers out of the market.
Source: NPR; 6/9/2022
PHFA accepting bids for mixed-use development tax credits
The Pennsylvania Housing Finance Agency (PHFA) is accepting bids for the purchase of $4.5 million in mixed-use development tax credits. The funds collected from successful bidders will be used for the construction or rehabilitation of mixed-use developments in Pennsylvania communities.?The deadline for bids is Friday, July 15, at 2 p.m. The tax credits will be used by the winning bidders — which can be companies, organizations or individuals — to reduce their state tax liability, PHFA said. More information about the mixed-use development tax credit and the current bidding process is?available in the news release.?
Source: Central Penn Business Journal; 6/14/2022
Deadline extended for Pennsylvania Property Tax/Rent Rebate Program
The application deadline for older and disabled Pennsylvanians to apply for rebates on rent and property taxes paid in 2021 has been extended to Dec. 31. “I encourage eligible seniors who have not yet applied to receive their rebate to please do so as soon as possible," Pennsylvania Secretary of Aging Robert Torres said in a release. The rebate program benefits eligible Pennsylvanians age 65 and older, widows and widowers age 50 and older, and people with disabilities age 18 and older. The income limit is $35,000 a year for homeowners and $15,000 annually for renters, and half of Social Security income is excluded. Applicants who still wish to file a paper application form may obtain Property Tax/Rent Rebate claim forms (PA-1000) and related information on the?Department of Revenue website?or by calling 888-222-9190.
Source: York Dispatch; 6/15/2022?
Bucks
Lower Makefield officials, residents split on how to use sewer sale funds
Lower Makefield is sitting on about $21 million in leftover revenue from the sale of its sewer system to Aqua. The township received $53 million in the sewer sale, and spent $32 million to pay off the Makefield Highlands golf course and some other debts. Three supervisors want to put about half the funds toward recreational purposes, the other two want to first see a plan prioritizing all the township's needs, and residents who attended township meetings have called for some of the money to be returned to them to help pay for anticipated increases in sewer bills. By a 3-2 vote, the three board members in the majority ― Chairman James McCartney and supervisors Fredric Weiss and Suzanne Blundi ― voted to hire a law firm to create a trust for at least $10 million of the sewer-sale money, with the township being able to use the interest earned for projects. The board also voted to spend approximately $1.1 million on several recreation department repair or renovation issues, but those projects might be paid for by other sources of income if grants become available. In early June, the supervisors approved the?Play for All Master and Strategic Recreation Plan, a detailed guide for elected and other township officials as they try to provide additional recreational facilities and programming for township residents of all ages.?
Source: Bucks County Courier Times; 6/15/2022 & Bucks County Herald; 6/9/2022
Richland supervisors chair steps down
Richland Township Board of Supervisors Chair Tim Ritter announced at the June 13 meeting that he was resigning from his position. Ritter will be moving out of the township. He has served the township as a supervisor and a planning commission member for 20 years. Officials indicated they hope to announce a replacement at their July 11 meeting. Information for residents interested in completing the remainder of Ritter’s term can be found on the?Richland Township website.?
Source: Bucks County Herald; 6/16/2022
Bristol Township zoners review revamped senior housing plan
Ingerman Development Company, BCM Affordable Housing and Norton Avenue Baptist Church came before the Bristol Township Zoning Hearing Board with new plans for a 51-unit affordable housing complex for residents over the age of 55. The plans call for 46 one-bedroom apartments and five two-bedroom apartments. The building would be constructed on Norton Avenue between Elwood and Watson avenues at the Norton Avenue First Baptist Church property. The site will be consolidated from several parcels to one 1.37-acre lot. A previous version of the plan was denied by zoners in 2021. The Bristol Township Zoning Hearing Board approved the requests for variances for maximum building coverage, maximum building area, density, site capacity, impervious surface, off-street parking and buffer yard. The plan now moves forward in the land development process and will need to obtain approval from Bristol Township Council.
Source: LevittownNow.com; 6/14/2022
New manager to take the helm in Solebury
Bucks County native Christopher Garges will be Solebury Township's next township manager beginning on June 27, bringing 17 years of municipal government service to the role as he replaces the retiring Dennis H. Carney. Garges spent the last four years as manager of Hanover Township and North Whitehall Township in Lehigh County. He has extensive experience in land use and development issues, having served for 13 years as zoning officer for Lower Saucon Township and several years in the private sector managing civil construction projects and civil engineering design.?
Source: Solebury Township; 6/2022
‘Bonus for Bucks Landlords’ (and Realtors) program deadline is approaching
Bucks County’s Bonus for Bucks Landlords program provides cash rewards to landlords — and Realtors who refer them — who lease to low-income renters. Landlords who are new to the Housing Link program can receive a bonus equal to two months’ rent when they lease to a program participant. Landlords and Realtors who refer a landlord to the Housing Link can receive a $2,000 finder’s fee if that landlord ends up participating. Aside from the cash bonus, landlords involved in the program receive reliable rent, continuity coverage payments between leases, the ability to collect additional referral bonuses, and support from the Housing Link staff. For more information on the program, visit the?Bonus for Bucks Landlords website?and read answers to?Frequently Asked Questions. Bonus for Bucks Landlords is a joint effort between the Bucks County Housing Link Partners, the Bucks County Association of Realtors and the Suburban Realtors Alliance. The program is set to end on July 31.
Source: Bucks County Housing Link?
Chester?
West Sadsbury to ask voters to decide on EIT increase to fund open space
The Board of Supervisors of West Sadsbury Township is considering asking voters if they are in favor of a new 0.7% tax on earned income to fund open space efforts. The supervisors will vote at their July 12 meeting on a proposed ordinance that would place a referendum question about the proposed tax on the November general election ballot. The revenue would be used “for the purpose of retiring indebtedness incurred for purchasing open space interests in real property or in making additional acquisitions of interests in real property for the purpose of securing an open space benefit or benefits.” A copy of the proposed ordinance is available at the municipal building, 6400 N. Moscow Road, Parkesburg.
Source: Daily Local; 6/17/2022
Franklin Township to vote on new comprehensive plan
Franklin Township supervisors will hold a public hearing on Wednesday, Aug. 17, to adopt the 2022 comprehensive plan. More information and a draft copy of the plan can be found on the?township website.
Source: Franklin Township; 6/15/2022
Property taxes to increase 2.95% in Tredyffrin-Easttown School District
The Tredyffrin-Easttown School Board approved a 2022-2023 final budget that will raise property taxes by 2.95% for a new millage rate of 25.8536. The $166.6 million budget means the average property owner in the district will pay about $190 more in taxes next year. The $6 million deficit in the 2022-2023 operational budget was closed with a fund balance contribution of $1.6 million and the property tax increase. School directors said three of the largest cost drivers behind the need for increases in expenses are capital improvements, special education services and state-mandated contributions to the Public-School Employees’ Retirement System. The district has posted a?budget summary?to its website.
Source: Daily Local 6/17/2022 & TESD 6/2022
Coatesville school district officials pass budget calling for 3.85% increase in taxes
The Coatesville Area School Board approved a $208.3 million budget for 2022-2023 calling for a 3.85% increase in taxes. The tax rate will increase from 39.691 mills to 41.219 mills, meaning the average property owner with a house assessed at about $133,000 will pay about $204 more annually. The budget includes $69.5 million in payments to charter schools. Coatesville pays $11,500 per pupil per year for students who opt to attend Collegium or Avon Grove Charter. More than 3,000 students from the Coatesville Area School District now attend charters, up from about 1,700 five years ago. In that time, Coatesville’s payments to charters have expanded by $33 million, to about $54 million per year.
Source: Daily Local; 6/16/2022
West Brandywine makes changes to property maintenance code
West Brandywine Township supervisors on June 16 approved updates to the township’s property maintenance regulations.?Ordinance 2022-05?amends section 137-2 of the township code to establish a maximum height of 10 inches for grass and weeds, among other changes.
Source: West Brandywine Township; 6/16/2022?
Delaware?
领英推荐
Chadds Ford to update zoning map
Chadds Ford Township supervisors will hold a public hearing to consider for adoption a proposed ordinance amending the township zoning map. The updated map would include multiple parcels on the western side of Wilmington Pike and south of Brintons Bridge Road within the boundary of the Planned Business Center (PBC) zoning district. View the public notice on the?township website. The public hearing will be held on Wednesday, July 6, at 7 p.m. at the township building located at 10 Ring Road.
Source: Daily Times; 6/15/2022
Radnor hopes a new sign will stop trucks from hitting bridge
Radnor Township officials say the SEPTA/Amtrak bridge running over King of Prussia Road between Radnor Chester and Matsonford roads has been struck more than 120 times by large trucks in recent years. The strikes occur roughly once a month and often tie up traffic for hours. Township commissioners laid out a plan that they hope will fix the problem, as they approved a $39,000 contract with Gilmore and Associates for a passive detection system to let drivers know if their trucks won’t fit. According to township engineer Steve Norcini, there will be flashing signal beacons and a mast with an arm similar to those that hold traffic lights. Attached to the arm will be a sign listing the bridge height of 10 feet and 10 inches. “If you are taller than that … you will hit that sign,” Norcini said.
Source: Daily Times; 6/17/2022
Garnet Valley School District to increase taxes 1.33%
The Garnet Valley School Board approved a $118.6 million budget with a tax increase for the 2022-2023 year. The budget is a 2.19% increase in expenditures over the current year and includes a property tax increase of 1.33%. “This increase is well below the index and takes into account improvements to our programs, higher costs through inflation and our residents who continue to struggle coming out of the pandemic, and adjusting to the countywide reassessment,” said Scott Mayer, school board president. The millage rate for Concord and Chester Heights townships is 18.6866, and in Bethel Township it is 18.8953 mills, due to the latter’s sponsorship of Delaware County Community College. A property assessed at $300,000 in Chester Heights or Concord Township would incur a total tax bill of about $5,600, and a property assessed at $300,000 in Bethel Township would incur tax of about $5,670.?
Source: Daily Times; 6/19/2022
Upper Darby council’s dismissal of CAO moves to court
Six members of Upper Darby Township Council have filed a petition in Common Pleas Court seeking to validate the council’s dismissal of the township’s chief administrative officer, Vincent Rongione. The council voted on June 1 that Rongione’s office be “forfeited” after months of bickering between multiple council members and Rongione over the handling of federal American Rescue Plan pandemic money. Mayor Barbarann Keffer has pushed back, saying the firing was illegitimate without mayoral consent. Rongione refused to log off a recent borough meeting that he was attending via Zoom, despite the council voting that he must do so. Solicitor Sean Kilkenny said that, in his opinion, until the court rules that Rongione has forfeited his office, he has a right to participate in meetings. A June 22 court hearing on the matter was postponed to an unspecified date. Read more?here.?
Source: Daily Times; 6/22/2022?
Montgomery?
Montco homeless count shows 118% increase over 2021; Norristown shelter to close
A count of Montgomery County’s homeless population earlier this year identified 568 people sleeping in one of the county’s emergency shelters (including hotel rooms paid for with public funding), transitional housing projects or outdoors. The annual Point-in-Time (PIT) Count was conducted in January by more than 100 volunteers coordinated by the Montgomery County Office of Housing and Community Development in collaboration with Your Way Home. The results reflect a 118% increase from 2021 PIT Count, attributable to rising rents, lack of affordable housing and the ongoing impacts of Hurricane Ida. Read more?here. One of the county’s shelters, the Coordinated Homeless Outreach Center on the grounds of the Norristown State Hospital, is slated for closure. The 68-acre hospital grounds are set to be conveyed to the Municipality of Norristown, and the lease for the outreach center officially ends on June 30 after Norristown officials opted “to deny an extension of the current lease.” The 50-bed facility, known as CHOC, is the largest and only homeless space for single adults ages 18 years and older in Montgomery County. The impending closure of CHOC combined with the uptick in homelessness has community leaders distressed. Read more about the situation?here.
Source: Montgomery County; 6/8/2022 & Main Line Media News; 6/2/2022
Collegeville looks to pass blight ordinance
Collegeville Borough Council is considering passing a Neighborhood Blight Reclamation and Revitalization ordinance. The?draft ordinance?would target properties determined to be in a deteriorated condition as a result of neglect by their owners in violation of applicable state and borough codes. “These deteriorated properties often create public nuisances, which have an impact on crime and the quality of life of residents, business owners and visitors to the borough and require significant expenditures of public funds in order to abate and correct the nuisances,” the borough stated in a public notice about the proposal. The draft ordinance lays out definitions, criteria and penalties for noncompliance. A public hearing to consider the ordinance will be held Wednesday, July 6, at 6:30 p.m. at Collegeville Borough Hall, 491 E. Main St.?
Source: Times Herald; 6/20/2022
Montgomery Township approves keeping of backyard chickens
Montgomery Township supervisors recently approved guidelines for the keeping of backyard chickens on residential properties. Prior to the change, backyard chickens were not permitted in the township. In 2020, township residents asked if the board of supervisors could consider permitting backyard chickens and created a Facebook group called?Montgomery Township PA Backyard Chickens?to further the cause. Guidelines for keeping chickens will be posted on the?township website?at a later date.
Source: NorthPennNow; 6/17/2022
Upland Square shopping center in Pottstown sells for $85.7M
Upland Square, a roughly 400,000-square-foot center at 180 Upland Square Drive in Pottstown, has sold for $85.7 million. The center was sold to United Hampshire U.S. Real Estate Investment Trust, a Singaporean real estate firm that invests in grocery-anchored retail. The center is fully occupied with 35 tenants, including Giant, TJ Maxx, Ross, Burlington, Ulta and Ashley Furniture.?
Source: Philadelphia Business Journal; 6/13/2022
The last grand estate in Lower Merion to be subdivided
The Lower Merion Township Building and Planning Committee recommended approval of a subdivision plan for Linden Hill, a large estate along Monk Road in Gladwyne. “This is the last of the great estates of Lower Merion … that hasn’t been subdivided,” said Chris Leswing, the township’s director of building and planning. Under the plan, the property will be divided into five lots, with three new homes and the retention and reuse of the historic mansion and other buildings on the site. The project includes the preservation of 39 acres, or about 58% of the property area.
Source: Main Line Times; 6/13/2022?
Philadelphia
University City tenants could get more time to relocate
Residents of a soon-to-be-shuttered affordable housing complex in West Philadelphia may get a couple extra months to find a new place to live. IBID Associates, the owner of University City Townhomes at 39th and Market streets, has asked the U.S. Department of Housing and Urban Development (HUD) to extend its annual affordable housing contract to Sept. 8. It’s currently set to expire on July 8. IBID is seeking the extension because HUD did not begin issuing portable housing vouchers until the end of May. Without those vouchers, most of the renters at the 70-unit complex would not be in a position to relocate. “Under the circumstances, we thought it only fair to extend the deadline to provide adequate time for residents to relocate,” said IBID spokesman Kevin Feeley.
Source: WHYY; 6/16/2022
South Philly’s Black ‘main street’ is a step closer to becoming a historic district
The piece of Christian Street known as Black Doctors Row is on its way to becoming the first section of Philadelphia designated as a local historic district specifically to recognize its Black history. The Philadelphia Historical Commission’s Committee on Historic Designation has recommended that the area should become the Christian Street Historic District. The six-block stretch of Graduate Hospital was once a hub of Black professional life. The historic district would consist of 154 properties from South Broad to South 20th streets. Concerns about demolitions on the street in 2020 and ongoing development pressure in the area spurred the nomination for a historic designation. The Historical Commission is likely to decide whether to designate the district at its next meeting on July 8. The commission adopts most of the committee’s recommendations. Read more?here.?
Source: Inquirer; 6/15/2022
How to get a property deed in Philadelphia
When you have a deed in your name, you can sell your home, apply for mortgages, home repair programs and equity loans, and be eligible for government programs, including real estate tax breaks and utility assistance. But according to a report from?Pew Charitable Trusts, more than 10,000 properties in Philadelphia have “tangled titles” — a situation in which a person lives in a property that they “own” or have a right to own, but their name is not on the deed. The Inquirer published a?how-to manual?for people who inherited a property to obtain the deed, including key terms to understand, documents to prepare, potential costs involved and pitfalls to avoid.
Source: Inquirer; 6/15/2022?
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