Property Tax Rates in Montgomery County

Property taxes make a big difference in your monthly payment and are a big expense of owning a home.  Comparing the highest and lowest property tax rate in Montgomery County for a property assessed around $225,000 the difference is $767/mo using the 2 examples below.  That is just in taxes!  To get the yearly property taxes you multiply the property assessment by the tax rate.

The highest rate in Montgomery county is Cheltenham Township at 0.0566505.  Cheltenham township currently has 184 homes for sale and the average listing price is $278,191.  There is a house for sale located at 1000 Dell Ln, Cheltenham, Pa 19095 for $375,000.  The assessment on that house is $221,330 x 0.0566505 Cheltenham Township rate = $12,538/year in property taxes.

mongtrate

The lowest rate in Montgomery county is Bryn Athyn Boro at 0.014759.  I don’t work in this area but apparently Bryn Athyn Boro does not have a school district because 90% of the children go to the General Church of the New Jerusalem and the rest are contracted out to other school districts.  There is only one house for sale currently for $499,000 located at 771 Fetters Mill Rd, Bryn Athyn, Pa 19006.  The assessment is $225,670 x 0.014759 Bryn Athyn tax rate = $3,331/year in property taxes.

montgtax

The total rate is broken down into 3 parts.  The Montgomery county rate is 0.003459.  The municipal rate varies but there are 2 municipalities with no municipal rate.  Then there is the school district rate.  Bryn Athyn Boro district is the lowest in at 0.001 because it doesn’t have schools & Cheltenham Township school district is the highest at 0.0450943.  Choosing the school district to live in is important because it is the majority of your property taxes.


Black Friday/Cyber Monday Amazon Deals

Rumors are Amazon will be giving great discounts on some of my favorite products.  I use these 3 practically every day.  So keep an eye on Amazon starting on Thanksgiving through Monday December 2nd.  Right now on Monday Nov 21st the Kindle paperwhite is $20 off for $99.99.  Click the pictures for a link to the products.

Here are the rumor on the deals:

Amazon Dot:  $39.99 ($10 off):  

Kindle Paperwhite:  $99.99 ($20 off):  

Amazon Echo:  $139.99 ($40 off):  

These are great gift ideas for the holidays!  The paperwhite is my favorite kindle because you can read it outside in the sun.


#IoT Let’s talk about the internet of Things

The internet of Things is the interconnection of smart devices.  It is the infrastructure of the information society and it is coming to your home, your cities and even your vacations.  The stylized hashtag for it is #IoT.

IoT now refers to mostly smart homes and home automation but eventually it will expand into automation of smart cities and a smart grid.

Examples of IoT?  Let’s take a look at 3.

1. Our Smart Home is part of IoT.  We have a home automation system set up with a hub that talks to everything and connects the lights, thermostat, front door lock and the Amazon Echo & Dot.  You can see the video here:

 

2.  Disney World is part of IoT.  They are building their own smart city and they are using technology to make vacationing feel like magic.  There are sensors all over the parks and Disney is now like one giant computer.  Disney World uses RFID technology which is radio frequency identification and they made a wristband or wearable technology – of course with a mickey on them.  They call them MagicBands.  You wear the MagicBand on your wrist & it can open your room, you can pay for everything in Disney with it, it holds your park tickets, stores your fast passes and for Disney it tracks everything you are doing and buying.  A little scary to be tracked but the idea is it will track everyone’s behavior and Disney will be able to serve and anticipate the needs of their guests better and make your trip magical.  With just one piece of technology you are connected to the entire infrastructure of the theme park.

I go to Disney often.  Here is my MagicBand opening our room & my MagicBands:

 

Here’s a fun example how Disney used the magic bands to create magic.  We were in line for Rock N Roller Coaster.  When you first walk in the building there are concert posters on the wall.  All of a sudden it said Laura will be playing a concert live in West Chester.  It pulled my information from my MagicBand and like magic there was a poster for my upcoming rock show.  It switched too fast to the next guest in line & I couldn’t get a picture.

Disney also has a My Disney Experience App where you can make fastpass reservations (front of the line pass) & make restaurant reservations that seamlessly hooks up to your MagicBand.  You can see park maps and estimated wait times at attractions too.

Eventually this technology can be implemented in cities and towns across our world.  How exciting!

3.  Transportation will be a part of IoT.  Self driving cars are here and experts see a future where people don’t own cars.  Imagine homes will no longer need garages.  People will use an app similar to uber to order a self driving car.  We will be connected through the app for ordering a car, the cars will be connected to a GPS system to navigate the car & eventually the cars will be able to connect to each other so the system is automated and efficient.  That will eventually spread to all forms of transportation.  Data from this technology will eventually be gathered and we will be able to set up smart traffic control & that will lead to less traffic and safer roads.

Here’s a quick 2 minute video by Tesla showing the self driving car:

 

We are on the brink of exciting technological advances.  A lot of it is here already and will eventually be in everyone’s homes and hopefully IoT will help transform our world into a better, more connected, more efficient & magical experience.  It’s the internet of things!


Property Tax Rates in Chester County

Property taxes make a big difference in your monthly payment and are a big expense of owning a home.  Comparing the highest and lowest rate in Chester County for a property assessed around $125,000 the difference is $284/mo using the 2 examples below.  To get the yearly property taxes you multiply the property assessment by the tax rate.

The highest rate in Chester county is Parkesburg Boro at 0.052793.  Parkesburg Boro currently has 27 homes for sale and the average listing price is $200,000.  There is a house for sale for $209,900 and the property taxes are $6,610.  The assessment on that house is $125,210 x 0.052793 Parkesburg Boro rate = $6610/year.  It’s a single family home at 501 Washington Ave. Parkesburg, Pa 19365.

washington

The lowest rate in Chester county is West Whiteland township at 0.0249802.  West Whiteland currently has 54 homes for sale and the average listing price is $426,943.  There is a house for sale in West Whiteland township for $289,000 and the property taxes are $3,205.  The assessment is about the same as above $128,300 x 0.0249802 West Whiteland tax rate = $3,205/year.  It’s a townhouse at 6 Buttonwood Dr. Exton, Pa 19341.

buttonwood

The total rate is broken down into 3 parts.  The Chester county rate is 0.004163.  The municipal rate varies but there are many municipalities in Chester county with no municipal rate.  Then there is the school district rate.  West Chester school district is the lowest in Chester County at 0.0200982 & Octorara school district is the highest at 0.03863.  Choosing the school district to live in is important because it is the majority of your property taxes.


3 Books for Real Estate Agents

You need to be constantly learning and improving on your business and career if you want to be a successful real estate agent.  You can find inspiration & new ideas from your broker, your colleagues, online, YouTube but I think the most important resource for agents are books.  They provide a long form, detailed guide to improving your career, business and life.  I recently joined Amazon Audible to listen to books on my phone.  You can receive 2 free audiobooks & a month free trial from audible by clicking here:

Here are 3 of my favorite books for real estate (Click on the book to see them on Amazon):

I just listened to this on audible 2 weeks ago.  I loved this book.  I found it practical with lots of good ideas from an author who is from Baltimore!  I’m from Maryland so I knew the areas he was referring to.  Pat Hiban lays out 6 steps which includes advice on goal setting, investing and he does it in a unique way.  It felt like a mentor was talking to me.  I downloaded the book on the audible app & would go to a local park and go on an hour walk listening to it on my iPhone.  In 4 walks I finished the book.  It is 4.5 hours long but I put the speed at 1.25x.  Pat reads it himself stumbling over words occasionally but it just made it that more of an authentic experience.  I think this is a must read.

This is not a real estate book.  It is a think big and bold book.  Here are my biggest takeaways.  You need to love what you do or you will fail.  In our new large world it is technology bringing people together and allowing everyone to make their business or job their art.  Being a real estate agent can be creating art and you can draw your own map (business plan) for your career and business.  If everyone was bolder and pushed through their fear to do what they want the way they want to do it then it would make the world better because we would have a world full of artist & better art!  How great is that idea!  I also listened to this on Audible.

I believe this is the #1 book for real estate agents.  I read this almost 10 years ago.  It shows how to treat your real estate career as a business and they give you models to follow.  Modelling is basically saying that it’s all been done before so copy what successful people have done in real estate.  Once you set up systems in your business then they say you need to get creative and innovative and improve on the models.  I did like how they said fear is caused by myths that can be defeated by truths.  Last they say success in real estate can come in 3 L’s:  Leads.  Listings.  Leverage.  There’s much more to the book but those were the highlights for me.

Those are my 3 must read books for every real estate agent!


Most & Least Expensive Homes for Sale in Delaware County…

This is just for single family homes in Delaware County.  There are currently 1313 single family homes for sale in Delaware County in the MLS.

Most Expensive Home:  100 Pembroke Ave.  Wayne, Pa 19087 is for sale for $7,650,000.  This is such a unique estate located on almost 2 acres and the interior is 11,500 SF.  It is a Tudor mansion but has been updated with classic moulding and materials.  I love the ceilings.  It looks like an investment group bought it in 2014 for cash for $2 million when it was an estate sale.  They did a beautiful job remodeling the home.

Least Expensive Home:  2207 Concord Rd. Chester, Pa 19013 is for sale for $20,000.  It is a 3 bedroom & 1 full bath home with 2171 SF & on 0.35 acres.  It is being sold as is and says it needs TLC.  There’s not much information and only 2 pictures.

The average list price of all 1313 single family homes is $458,484 and the average days on the market is 145.  The total value of all 1313 homes currently for sale in Delaware county is $600 Million!


5 Tips for Selling Your Home

  1. Updating & Staging Your Home:  Get rid or hide any strange things.  Make everything as neutral as possible.  Paint it or have touch up painting and caulking done.  Check out my blog about staging your home:  Click here.
  2. Pricing it correctly:  The market is the market and with so much information available online about housing and the real estate market buyers have a good idea of what your house is worth.  If you aren’t getting showings the first week of hitting the market you are WAY overpriced.  If you have 1-2 showings that first week you may be slightly over priced.  Spend a lot of time and analysis making sure you have it priced right before putting it on the market.  Here’s the general graph for showings:  weeks-on-market-pic
  3. Be ready to show at any time:  Your house needs to be cleaned, organized and pretty.  Get the kids and the dogs out.  Everyone is busy these days so being flexible with giving access to buyers is so important.  Leaving bottled waters and candy or snacks for the buyers and agents is a nice touch.  Make sure it smells good and leave all the lights on and all blinds and curtains open.
  4. Get it professionally cleaned:  Depending on the size of your house it could cost $250-$500.  They clean baseboards, oven, wipe down cabinets & clean thoroughly.  It is worth it.  You have so much to do to get your house ready for sale.  Pay someone to do this so you can spend more time on organizing & decluttering.  Also, don’t forget to power wash the outside, sidewalks and decks.
  5. Professional Pictures & Videos:  15 seconds is how long buyers spend clicking through your pictures online.  They need to be beautiful and professional.  Only 20% of buyers actually read the property description.  Most look only at the pictures, the price and the location.