New Rules Require Rental Property Owners to Issue 1099s
Monday, 15 November 2010
by The Kevin Toll Group
The recently enacted Small Business Jobs Act contained one provision that may have escaped the notice of taxpayers who own rental property, but will affect them starting in January. Under the provision, owners of property who receive rental income will be required to issue Forms 1099 to service providers for payments of $600 or more
- Published in Uncategorized
Important FHA information for Condos
Friday, 12 November 2010
by The Kevin Toll Group
FHA announced several changes in the Condo Project Approval process. One important change was the elimination of “spot approvals” and that the entire project would have to be approved in order for a unit in that project to receive FHA financing. Another major change that initially many didn’t realize the importance that each project would
- Published in Home Buyers
Timelines for inspection contingency: What are the deadlines?
Thursday, 11 November 2010
by The Kevin Toll Group
Though the revised Standard Agreement (“ASR”) has been available for the better part of a year, there is still great confusion regarding the timeline established in the Inspection Contingency. There are those who insist that when a buyer submits a corrective proposal, the timeline is stretched to 17 days, with no exceptions. This is not
- Published in Home Buyers, Home Sellers
Mortgage Updates
Wednesday, 10 November 2010
by The Kevin Toll Group
Important numbers have been released from the Federal Reserve-first, the lending rate between banks will be held at 0 percent to 0.25 percent. Second, the Federal Reserve announced they would going to put even more money into our sluggish economy. The Federal Reserve will purchase an additional $600 billion in long-term Treasury bonds over the
- Published in Home Buyers
Are you an informed Philadelphia County homebuyer?
Tuesday, 02 November 2010
by The Kevin Toll Group
If you are a homebuyer or seller in the Philadelphia County, educate yourself about the market and important statistics for both homebuyers and sellers. Units sold in September 2010 were down 30% from 2009. In September 2010, 722 units were sold, as opposed to the 2009 12-month average of 1,009. Active inventory is decreased by 1%
- Published in Home Buyers, Home Sellers
Tagged under:
contracts, days on market, homebuyer, homeseller, list price, median home price, Philadelphia County, september 2010
4 Must Know’s about foreclosures
Wednesday, 20 October 2010
by The Kevin Toll Group
4 Must Knows for buyers who are in the market for a foreclosure property
- Published in Home Buyers, Home Sellers
Networking for Professionals presents Shakers and Stirrers hosted by Kevin TOll
Monday, 18 October 2010
by The Kevin Toll Group
Networking for Professionals presents Shakers and Stirrers, hosted by Kevin Toll on October 20, 2010 at Tavern 17 in Philadelphia, PA.
- Published in Home Buyers, Home Sellers, Listings, Million Dollar Homes
Tagged under:
Kevin Toll, Networking for professionals, October 20th, Philadelphia, shakers and stirrers, Tavern 17
Unrealistic sellers may be losing their target market with unrealistic home prices
Monday, 18 October 2010
by The Kevin Toll Group
Today’s buyer is beginning their home search on the internet. A buyer using a home search on the Internet typically selects a large price range, like $200,000 to $250,000. The buyer usually selects a large geographic area, such as Montgomery, Chester and Delaware Counties, and details like four bedrooms, two-and-a-half baths and two stories. The
- Published in Home Buyers, Home Sellers, Listings
Tagged under:
Bala cynwyd, buyer, Chester, CMA, Comparative market analysis, Delaware County, internet, Lower Merion High School, Montgomery, Narberth, realtor, seller
Housing Recovery Predicted for Early 2012
Friday, 15 October 2010
by The Kevin Toll Group
The Concord Group real estate strategy firm predicts that with 18 months worth of housing inventory on the market, it will take until the first quarter of 2012 for demand for new homes to equal what it was in 2000. Concord Group calculates that new home sales in 2010 were 70 percent below peak demand
- Published in Home Buyers, Home Sellers, Listings
Tagged under:
CA, Concord Group, housing inventory, orange county, San Jose, Seattle, Washington D.C.
Showings are Up, the Market is Normalizing
Thursday, 14 October 2010
by The Kevin Toll Group
Showings in Philadelphia and the surrounding areas, (Montgomery County, Chester County, Delaware County) are up 24% in the 1st 13 days of October. These showing numbers are exactly equally to the showing in the 1st 13 days of October in 2009. This data shows us that the market is normalizing and more people are looking to buy
- Published in Home Buyers, Home Sellers, Listings