100 Forelock Ct. Walkthrough Video

100 Forelock Ct. West Chester, Pa 19382 for sale. $469,000. Call/text Laura at 484-985-5222. Smart home technology throughout. Most private townhouse in Brandywine at Thornbury with many updates.

Beautiful Chester County sunsets from your deck & patio. Smart home technology throughout. Control your indoor & outdoor lights, front door lock, cameras, video doorbell & HVAC through your phone, voice controlled Amazon Echo or the in wall control pad. This bright, spacious NE facing end unit townhome with 2 car garage, first floor master suite and finished walkout basement has a long list of upgrades. Here are a few: custom staircase with panelled wall, wainscoting in dining room, refinished hardwood floors, professionally painted throughout, new carpet in Master bedroom, lighting upgraded throughout with smart bulbs, oil rubbed bronze hardware (no builder’s grade brass), remodeled powder room, new refrigerator, new air conditioner, new hot water heater & new fence and landscaping. Low taxes. Low HOA. Wonderful community with pool, playground, basketball, tennis & walking trails. Great location with easy access to highways and quick ride to Philly airport.


Coming Soon 100 Forelock Ct. in West Chester

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Coming soon. 100 Forelock Ct West Chester, PA 19382.  Smart Home technology throughout. Many upgrades. Most private town home in Brandywine at Thornbury.  3 bed/2.5 bath with loft. 2 car garage. Finished walkout basement. 2810 SF & 737 SF basement. $469,000 contact me at 484-985-5222 or laurajlaws@gmail.com


Now is the time to buy!

Now is the time to buy!

Rates 3-16

As expected, the FOMC announced its first rate hike of 2017 and hinted at additional increases throughout the remainder of the year. This survey was conducted prior to the Fed’s decision, the release of the February jobs report all but guaranteed a rate hike and boosted the 30-year mortgage rate 9 basis points to 4.30 percent this week. Increasing inflation, continued gains in the labor market and the Fed’s intentions for further rate increases—all three will keep pushing mortgage rates up this year.


Year to Date Stats for Chester County

Here is the monthly breakdown for year to date statistics in Chester County.  The inventory accumulation for all residential real estate in Chester County is 4 months which means it is a balanced market but if it gets down to 3 months it means it is a seller’s market.  6+ months of inventory accumulation means it is a buyer’s market.

We have seen a big slow down in the past month or so and you can see that in the units pending & units sold when comparing Nov 2016 & Nov 2015 and the DOM (days on the market).  DOM has gone up and pending and units sold have gone down in November compared to last year.  Also, it seems there are a lot more price reductions recently.  I think with the interest rates increasing the market will really slow down until the warm weather comes back in the spring.  So probably not the best time to sell but a great time to find deals!

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I narrowed it down on the year to date statistics for homes for sale between $200,000-$500,000 in Chester County.  The inventory accumulation goes down to 3 months so it is a seller’s market in that price range.

You can narrow it down even more and it truly shows you how location really is everything in real estate.  In the $200,000-$500,000 price range the inventory accumulation is 1 month in Thornbury Township & it is 18 months in the Oxford Boro.  So, great time to be a seller in Thornbury township and a great time to be a buyer in Oxford Boro.


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.

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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.

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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.


Most & Least Expensive Homes for Sale in Chester County…

This is just for single family homes in Chester County.  There are currently 1731 single family homes for sale in Chester County in the MLS.

Most Expensive Home:  912 Providence Rd. Newtown Square, Pa 19073 is being offered for $10,995,000.  It is located on 72 acres and is a 86 year old stone farmhouse and almost 15,000 interior square feet.  This is called Heartwood Farm and includes the original farmhouse & a historic second home built in 1780.  The farm includes 2 barns with 24 total stalls, office, an apartment, fenced lighted riding ring and a 5 car garage.

Least Expensive Home:  741 Broad St.  Oxford, Pa 19363 is for sale for $30,000.  It is a Fannie Mae/government foreclosure and you need to sign a disclosure that you’ve been told there maybe mold in the home before entering.  It is a small rancher located in Oxford Boro.

The average list price of all 1732 single family homes is $652,535 and the average days on the market is 129.  The total value of all 1732 homes is $1.1 Billion!


10 acre properties are the best deals in PA Real Estate

My Takeaway:  A property on 10 acres can save you $800/mo in your payment or with a loan you can afford $228,000 more with low taxes.

Act 319 is a law passed in Pennsylvania in 1974.  It lowers property taxes for property with at least 10 acres.  I pulled up properties under $700,000 in our area with at least 10 acres.

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I’m going to compare 2 properties priced at $599,000.  One is under Act 319 and the taxes are $3792/year and another home that is not under Act 319 and taxes are $13,390/year.

271 Greenbelt Dr. Parkesburg, PA 19365  Currently on the market for $599,000 and the yearly taxes are $3792 because it has over 16 acres and is under Act 319.  With 20% down loan at 3.75% and $1500 homeowner’s insurance here is the estimated monthly payment:

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1341 Pikeland Rd. Chester Springs, PA 19425  Currently on the market for $599,900 and the yearly taxes are $13,390 because it is only 0.64 acres and not under Act 319.  With 20% down loan at 3.75% and $1500 homeowner’s insurance here is the est. monthly payment:

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That is a difference of $847/mo difference for the same priced home.  Imagine if you had a budget of $3500/mo and the taxes were under $4000/year.  Instead of $599,000 house you could now afford a $828,000 house.

Here’s more information on Act 319:  http://www.chesco.org/256/Act-319—Clean-Green