Many communities have a Home Owner’s Association (HOA) for various reasons. I have heard buyers state they are only interested in a property with an HOA; they are not even looking at homes that have an HOA; and that they have no opinion one way or another. I’m sure you’ve heard some of the stories on the news, even right here in Chester County there were a few incidents with lawn religious statues and military flags.
For the most part, I believe that having an organization formed with some rules and regulations really helps keep the community looking nice. Associations differ on the types of rules they put in place, some being much more strict than others. Before you purchase a home, make sure your agent specifies in the contract that you have an opportunity to review the documents of the association before you agree to purchase your new place for sure. Because if you must drive that RV on a daily basis and want it parked in your parking space… you may have an issue.
Rhondda’s Home Owner’s Association has a great website – I wanted to point it out to you if you are currently living in the community or if you are considering a move to Rhondda in Exton. Not only is there information about the regulations, but also contacts so you can make an inquiry if you have a specific question.
Tucked away off of Ship Road, is Old Valley Road, the future site of Exton Park. The majority of Old Valley Road is closed to traffic which makes it ideal for runners, walkers, and nature lovers. Most of the road is gravel with a few asphalt places. It is a pleasant surprise in the midst of traffic and our densely populated area. After traveling the wooded road for a while, you will enter open fields with a beautiful view toward Swedesford Road. The road continues 2.06 miles to N. Bacton Hill Road.
You can reach Old Valley Road from Rhondda Clubhouse by following the walking trail to Newcomen Road, turn right and then left on Timber Lake Drive, right on Valley View Road and at the corner, just before getting to Ship Road, there is a narrow trail on your left. It is a beautiful off road walk or run to Old Valley Road. Enjoy some time outdoors while appreciating the beauty Chester County has to offer.
So the tax credit has expired. Now what? Well, there is little doubt the tax credit provided a fairly significant boost for the real estate market, the Rhondda Community included. As real estate professionals, we have noticed a “slowdown” since the credit expired April 30. This was not unexpected as it was fairly obvious that a number of May/June buyers moved their purchase earlier to take advantage of the tax credit. We expect this to resolve itself in the very near future. In fact, I have noticed an increase in buyer interest in the last couple weeks.
So what about our area of specific interest, the Rhondda Community. There were 12 homes sold in the Rhondda Community in the last six months. Not bad, but most of that time was during the “tax credit period”. SINCE THE TAX CREDIT EXPIRED, 4 homes have gone under contract. All of those sales occurred in the last 6 weeks! Bottom line, the Rhondda Community experiences a fairly steady demand. Yes there was an uptick in activity during the tax credit period, a slowdown immediately following (May), but as the last six weeks indicate, homes are still selling in Rhondda!
Currently there are 4 townhomes and 1 single listed for sale. This is not a large inventory as the average number of homes for sale is normally almost twice that. If you are considering selling your Rhondda home, now might be a good time to give The Kim Wood Team a call.
For a slightly broader “look” at the real estate market surrounding the Rhondda Community, check out John Lauber’s excellent analysis posted below.
“How’s the market?” is one of the most common questions we hear as real estate agents. The chart below shows the past year, ending in June, 2010. As you can see, Uwchlan township, which the Rhondda community is a part of, has had steady sales for the past year. With the activity in March and April, as the tax credit ended, shows an increase in listings and eventually solds (see June) as sellers tried to get their home on the market and let buyers take advantage. Those under contract listings, became June’s solds as the original settlement date of June 30, 2010 approached (note: that was recently extended for settlements only to the end of September, 2010).
The days on market has remained remarkably low compared to Chester County and it could be considered a “normal” market, as the current absorption rate for Uwchlan township is only 6 months of inventory (i.e. 6 months to sell all current inventory with no new listings). Anything between 5 and 8 is generally considered a normal market. Chester County is still tilted towards a buyer’s market.
If you would like even more detailed information regarding your property, especially as it pertains to the Rhondda community, feel free to contact us.
Check out the chart below:
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Before you arrive late for an appointment on Sunday – you should know if you don’t already that a time change is in order for all of Chester County and Beyond…. yes, even within the gates of Rhondda (imaginary gates). Want all of the details? You can find out all sorts of information about Daylight Savings time from the website by The National Institute of Standards and Technology (NIST), an agency of the U.S. Commerce Department.