Posts Tagged ‘Suburban Philadelphia Pennsylvania’

Edwards Dr Foreclosure in Brookhaven PA

May 9, 2009

Edwards Dr Foreclosure Brookhaven PAToday we are in central southern Delaware County PA for the next example from Danielle Mateu’s foreclosure homes.  The Borough of Brookhaven is located on Route 352 just south of Middletown/  Media and north of the City of Chester.  Although settled in 1682, this area was part of Chester and Middletown Township before being incorporated in 1945.  Today it is a smaller borough with over 8500 people and 3600 residences.

This foreclosure home is located just southeast of the intersection of Route 252 (Edgmont Av) and Brookhaven Rd, the original center of the borough, on Edwards Dr.  It is a nice 3/4 bedroom, 1 bath Cape on a nice residential street just a block from the intersection.  This appears as an average solid foreclosure that will need additional work, but it is not a ground up restoration as seen in some other properties.  It is also the first cape that we have seen in the series.  As with any foreclosure, a buyer should be prepared to do their own inspections to determine the present condition and invest in some significant work from the outset.  This property has a nice addition on the rear with a small shed and large parking area in the back yard.  The video shows the details:

For the most part, real estate values have remained fairly stable in the immediate area.  Sales activity peaked in 2007 with 19 homes sold at an average $209,000 sales price, while sales prices peaked in 2008 at $211,000 with 12 sales.  So far in 2009 there have been 5 sales with an average $207,000 sold price.  Prices have been above $200,000 since 2005.

Edwards is now listed for $179,000 which appears competitive to the sold homes.  Today, there are also 2 additional homes pending that have an average list price of $184,000 and 5 homes currently on the market with an average list price of $199,000 so at least in the short term, we could see average prices easing to the $200,000 range.

As always if you have any questions, need any additional information, or would like to look at any properties, please do not hesitate to contact me anytime.  I look forward to hearing from you.

(All statistics from the TrendMLS System and believed accurate but not guaranteed.)

Tinicum History & Homes – PA ‘s First Permanent Settlement

April 20, 2009

Hidden directly below the western flight approach to the Philadelphia International Airport is one of the more historically rich areas in Pennsylvania.

Gov Printz State Park Tinicum PAAfter struggling for several years in their initial 1638 settlement at Fort Christina (now Wilmington, Delaware), the Swedes sent Johan Printz to reinforce the operation of New Sweden.  After searching the area, he moved the capital from Fort Christina to his new fort, New Gothenburg, on Tinicum Island.  Here, he created the first permanent settlement in Pennsylvania and governed New Sweden from the Printzhof from 1643 until 1653.  Although the exact site of the Printzhof is in some question, the settlement is commemorated on a portion of its original site in the Governor Printz State Park in present day Essington Tinicum Township.

After Printz’s departure in 1653, the Swedes only maintained control of the settlement for two more years until conquered by the Dutch in 1655. The Dutch maintained control until 1664 when it came under English jurisdiction.  After Penn arrived in 1682, most 1699 Morton Homestead Prospect Park PAdevelopment moved north toward Philadelphia and Tinicum remained primarily agricultural.  Some additional early Swedish development still stands in the area as seen by the Morton Homestead at the original ferry crossing to Tinicum Island.

Activity in the area renewed in 1799-1800, when the Lazaretto was built  just east of the present day park. The main building and several additional structures of this quarantine station are still standing and were built on a portion of the original Swedish site (possibly including the Printzhof site).  The Lazaretto remained a quarantine station until the buildings were turned into a private club in the 1890’s.

Sunrise at The Lazaretto Tinicum Township PennsylvaniaThis site plus adjacent parts of the original Swedish development continued to be variously used as a seaplane base, airplane school, dry dock, and marinas.  When the Lazaretto was threatened by demolition, Tinicum Township bought in 2005 and has now mothballed the property.  It has also built a new fire station and ballroom complex on part of the site while creating a separate organization to study the preservation and reuse of the original Lazaretto buildings.

Today the area is a mix of residential, industrial, and commercial development.  As in much of the area, Tinicum Township, Essington, has experienced the same rise and pullback in real estate home prices seen throughout the county.  Recent activity peaked back in 2005 with 48 home sales with an average price of $140,000.  Prices continued to rise through 2007 peaking with an average settled price of $161,000 with 40 completed sales.  In 2008 activity retreated to 26 sales at an average price of $146,000.  In 2009 we have only seen four sales for an average $122,000.  This should rise when four additional pending sales settle which had an average list price of $167,000.  There are currently an additional 12 homes on the market with an average asking price of $195,000.

Again confirming its strategic location, it is nice to note that the site of the original Swedish settlement is just west of one of the major international airports on the east coast and continues to be a major commercial hub.  As seen for the last 350+ years, Delaware County PA has been and continues to be a prime location for homes and development.  Should you have any questions, need any additional information, or be considering a move to the area, please feel free to contact me anytime.

(All statistics per TrendMLS System believed accurate but not guaranteed)

Green Notes for Delco PA Homes

April 10, 2009

As we enter firmly into spring, it’s a great time to clean up your yard, clear out your home, and get ready for summer.  It’s also important to remember not to forget to continue to attend to the environment.  Just a few reminders as we enter the outdoor season:

montboardThe second and last spring Delaware County Household Hazardous Waste Collection Event will be held on Saturday April 25.  The collection will take place at the Emergency Services Training Center on 1600 Calcon Hook Rd in Sharon Hill Darby Township 19079.  Computers, monitors, scanners, printers, fax machines, and portable TVs will also be accepted at this event with a maximum of 3 systems per vehicle.  For more information, you can also check the Delaware County website.

Delaware County also now offers Free Collection of Compact Fluorescent Light Bulbs (CFLs).  They will be accepted at any of the county’s Household Hazardous Waste Collection Events and can now be dropped off Monday CFLthrough Friday at the Delaware County Solid Waste Authority’s Office located in Rose Tree Park – Hunt Club at 1521 N Providence Rd (Rt 252) in Media just north of Route 1.  Home Depot is also accepting CFLs for recycling.  An estimated 99.9% of the mercury will be recovered.

Thinking of doing some additional retrofits?  Concerned about the returns and potential costs?  Check  for available programs in the state through the DSIRE website.  This site contains a great list of the available National, State, and Local incentives for renewable energy.  It is also a wealth of information for related programs and initiatives.

Also be sure to check Green and Save’s expanded website.  Their site is one of the leading resources for anyone who wants to save money and the environment while creating healthier PA homes and lifestyles.  It is packed with useful information, links, and resources that can be used throughout your personal and business life. Both the American Institute of Architects and the National Association of Realtors use it as a key education and information resource.

Again, enjoy the remaining days of spring as everything once again begins to grow and bloom around Pennsylvania.  As always, do not hesitate to contact me anytime with questions or ideas.

MarpleWoods and Haverford Hill – Condos & Town Homes in Delaware County PA

April 8, 2009

(Be sure to check out the Haverford Hill update)

If you want to live outside the city but still crave the convenience of condo and town home living, you have a wide variety of options throughout Delaware County.  The area contains a diverse collection of condominiums ranging from the east with traditional properties such as the Contemporary Village in Glenolden and the Wildman Arms in Lansdowne to the more recent additions to the north and west such as Green Countrie Village in Newtown Square  and Runnymeade Farms in Edgmont Township.

With most of the communities under common maintenance, they allow the owners the flexibilty to come and go as they please knowing that their properties will be well tended.  Haverford Hill Condominiums Havertown PAMany owners also look for easy access to primary transportation links.  Two communities that are centrally located in the county close to major county crossroads are the Haverford Hill Condomiums and the townhomes in the adjacent communities of MarpleWoods and San Francisco East.

The Haverford Hills Condominiums are located just east of the intersection of I-476 (The Blue Route) and the West Chester Pike on Glendale Road in Havertown, Haverford Township.  They include over 250 one, two, and three bedroom units in several traditional buildings.  Haverford Hill Condo Entrance Havertown PennsylvaniaThis location affords easy commuting options both locally as well as into much of the Main Line, east and west along West Chester Pike, and to points ouside the immediate area using The Blue Route.

In Haverford Hills, the pricing has remained fairly solid over the last several years with the two bedroom units rising from an average price of $149,000 in 2005 with 18 sales to $162,000 in 2007(14 sales) and $163,000 in 2008(9 sales).  In the last six months 3 units have settled with an average price of $162,000 and an additional eight are currently on the market for  an average list price of $174,000.  The average price will be coming down as there is currently one unit pending with a list price of $149,000.

MarpleWoods Entrance Marple Township PAOne exit to the south on the Blue Route (I-476) at the Route 1 intersection in Marple Township, you can take advantage of the adjacent communities of Marple Woods and San Francisco East located just to the west of the freeway.  Located at the top of a hill north of Old State Rd, these communities contain over 200 town homes in a nice private environment.  This location provides you with easy access to much of the area by both Route 1 (which becomes Township Line Rd and then City Ave as you head further north and becomes Baltimore Pike to the south) and I-476.  You are also just minutes from Route I-95 and the airport.

San Francisco East Condominiums Marple Springfield PAWith a nice mix of mostly two bedroom units in both communities, the average sales price has remained between $203,000 and $207,000 from 2005 through 2008.  In the last six months, there has only been one sale for $190,000 and it appears prices are also heading down here with the current list prices averaging $205,000.  This mirrors what we have been seeing in many communities in the county.

These are just two of the many options in the area.  If you want to take advantage of suburban Philadelphia living but still want the convenience of condominium or townhome living, you have a wide variety from which to choose.

If you have any questions or would like to investage further, feel free to contact me anytime.

(All statistics are from the TrendMLS System and believed accurate but not guaranteed)

Local PA Finds: Penns Woods Winery & Chaddsford Winery

March 25, 2009

Chadds Ford Winery Entry Chadds Ford PAAs we enter the last weekend of March, you still have the opportunity to take advantage of the Barrels on the Brandywine Event put on by the member wineries of the Brandywine Valley Wine Trail.  The Brandywine Valley Wine Trail encompasses seven wineries (soon to be eight) ranging from just west of Philadelphia to eastern Lancaster County.  Saturday and Sunday from noon to 5:00 are the last two days of the event and offer a perfect opportunity to sample the new 2008 vintages at each location.

With over 120 Limited Wineries, Pennsylvania has a rich variety of wineries throughout the state.  Of the seven on the trail in this region, five are located in Chester County, one in Delaware County, and one in Lancaster County. Penns Woods Winery Chadds Ford PA Locally, there are two that are easily accessible for anyone in Delaware County or New Castle County Delaware.

Penns Woods Winery is the only winery exclusively located in Delaware County.  Situated just west of Route 202 on Beaver Valley Road in Chadds Ford Township, Gino Razzi started crafting wines in 2002 and in 2004 bought the former Smithbridge Winery.  This allows him to take  advantage of a combination of 25 year old vines on an ideal vineyard site with the latest in technology in his state of the art processing facility.  This is a smaller exclusive winery producing about 2000 cases per year grown, processed, and bottled in Delaware County.

Just to the west of the Brandywine Creek in Chester County is the Chaddsford WineryChadds Ford Winery Chadds Ford PennsylvaniaThe Barrels on the Brandywine event is just the beginning as they gear up for the Spring season.  Beginning in April, they kick off their Spring Wine Education Schedule with Wine 101 on April 9.  This is the first of  nine scheduled events lasting through May 17th.  In addition, they are beginning their New Technical Tour of the winery on April 1.  Finally, following up on their successful promotion in 2008, they are again joining with WMMR’s Pierre Robert to produce a new wine, “Pierre Noir“, for 2009.  Bottled locally here in Chadds Ford, the winery both grows its own grapes at the Miller Estate Vineyard in Elverson and purchases additional grapes from throughout the area.

As we continue into Spring, this is another great opportunity to get out and sample more of what the area has to offer.  Enjoy!

As always, if you have any questions or need any information on your real estate needs, do not hesitate to contact me anytime!

New Castle County Delaware Real Estate Update

March 19, 2009
So what’s happening in New Castle County Delaware real estate today? –  A bit of a slog but a few signs of Spring.

Rockford Tower Wilmington Delaware

As noted in my last post on New Castle County, the market here experienced the same drop in activity that we saw region wide.  Since then, again like other areas, it has continued to struggle.  Closed sales have continued at the slowest pace seen in years, but recently we have seen an uptick in new properties going under contract.  We may be seeing the beginning of a more solid market.

First Some History:

For all New Castle County, prices and sales activity rose from a sales pace of 7689 properties at an average price of less than $200,000 in 2003 , to a peak sales rate of 8285 homes at an average price of $245,000 in 2005.  Prices continued to rise to a peak price of $266,000 in 2007 but sales during this same period had declined to a rate of 6880 units.  In 2008, both prices and activity declined as the average price fell to $259,000 with only 4883 sales.

In 2009, sales for the first two months continued to decline with only 220 home settlements in January and 254 in February.  This was down 28% from the same time period in 2008.  Prices have also declined to an average price of $238,000.  On a good note, there has been an uptick in pending properties.  New properties under contract rose a bit with 332 new contracts in January and 345 in February.  This pace was only down 21% from the same period in 2008 and up 31% from the last two months of 2008.

Bottom Line:

BrandywineAlthough it remains unclear if we have reached a floor, there are signs that we could have a fairly strong spring.  The increase in new properties going under contract will inevitably lead to increased sales and this should tend to free up activity as sellers look to move up.  The market as a whole should benefit both from both the decline in prices/mortgage rates and the pent up demand resulting from the recent below normal sales rate.  If Washington and the Treasury Department can show any leadership, the market could firm fairly quickly.  With historically low interest rates, increased inventory, and declining home values, this is actually one of the best times to purchase properties we have seen in years.  Will it hold? – Too soon to tell, but it appears we are now beginning to move in the right direction.

Briarcliffe Darby Township PA Update

March 11, 2009

Briarcliffe Row Darby Township PA

Since its construction in the fifties, Briarcliffe in Darby Township Pennsylvania has always been one of the most popular communities in the area.

This Suburban Philadelphia community with over 2000 homes is centrally located in eastern Delaware County just west of Collingdale, north of Glenolden, and generally southeast of Springfield.  Ashland Avenue, which runs through the center of Darby township and the community,  provides direct access up to Providence Road or south to MacDade Boulevard.  Oak Lane on the eastern edge is a major generally north – south route in the area.

Briarcliff is part of the Southeast Delco School District.  The Darby Township School, serving grades 1-8, is located on Ashland Ave within easy walking distance of much of the community. The Kindergarten Center has its own location just off Rively Ave.  This is adjacent to the Briarcliff Athletic AssociationBriarcliffe Athletice Association In Line Hockey This great facility includes baseball fields, field house, in-line hockey rinks, snack stand, and all the support facilities required for a strong community sports program.  Briarcliffe also has its own Briarcliffe Fire Company on Beech Avenue which has served the Briarcliffe and the surrounding communities since 1954.

Real Estate Values have done very well here over the years and continue to hold up well.  After having an average sales price below $100,000 in 2003, prices rapidly appreciated to top out with an average sales price of $148,000 in 2007.  Since then, as seen in most areas, prices have drifted down – about 3.4% in 2008 and an additional 3.3% in 2009 with eight properties having settled year to date in 2009 with an average sales price of $138,000, down 6.8% from their peak.  There has also been a corresponding drop in activity from 101 homes sales in 2006, to 96 home sales in 2007, and to 65 settled properties through 2008.

Briarcliffe PennsylvaniaCurrently there are an additional 15 properties for sale in Briarcliffe at an average list price of $147,000.  Nine homes are under contract with an average list price of $154,000 indicating continuing strong demand in the area, particularily for those in move-in condition.

If you are considering a move into the area, need a good central location, and want to be in a strong community, you need to check out Briarcliffe.

If you need any additional information or are considering buying or selling in the area, please do not hesitate to contact me anytime with questions.

(All statistics are from the TrendMLS System and believed accurate but not guaranteed.)

Suburban Philadelphia Delaware County PA Market Update

March 7, 2009

So – How are we doing  today in the Suburban Philadelphia – Delaware County PA real estate market after the first two months of 2009? – basically OK

The raw numbers don’t look good.  The number of sales in January/ February 2009 declined by 28% compared to the November/ December 2008 rate, dropped by 33% compared to Jan/ Feb 2008, and by 47% compared to the average month in 2008.   This obviously does not look good but looks better when you recognize that there was a 22% drop for the same period as we went from 2007 to 2008. 

Radnor BarnIn addition, after experiencing an average county wide price decline in Nov/ Dec by 8.5 % compared to the average 2008 price, the price has remained stable at $240,000 through the first two months of 2009.  There were also 1361 new listings in this period, down 26% from 2008, and 661 properties that received accepted offers, down 30% from 2008.  This has resulted in an increase in average days on the market from 73 in 2008 to 96 days in 2009.

Finally, the average list price of new units listed was $311,000 versus average sold price of $240,000.  As noted in earlier posts, this is basically evidence of the larger relative activity in the lower price ranges.  As we saw earlier, the luxury market remains challenged in this environment.

Bottom Line:  The warning signs are still out there as we see more inventory, longer days an the market, and lower sales.  The key statistic, though, may be that the prices countywide may be becoming a bit more stable.  If we can hold the price and increase sales, which may result naturally from both the time of year and the trickle down impacts of the stimulus bill, we could see a more stable and building market as we progress through the year.  The key component remains the return of consumer confidence.  If Washington continues to show zero leadership on important issues and continues its attacks on the consumer, we could continue to see a stalled market and a return of declining prices.

If you need more details on your particular community or want to know about your property, please do not hesitate to contact me anytime.

(All statistics from the TrendMLS System and are believed accurate but not guaranteed.)

Folcroft Station PA SEPTA R2 Regional Rail

February 8, 2009

Amtrak Northeast Regional Passes Folcroft Station PA

Today we’re visiting the Folcroft Borough Station of the SEPTA R2 Regional Rail Line connecting Center City Philadelphia with Newark Delaware.

Folcroft is a great community incorporated in 1922 and conveniently located in southeastern Delaware County PA.  The station itself is located just east of the Primos Ave overpass (Primos Ave becomes Oak Lane as you travel further north).  It is the fifth stop west of 30th Street Station, with a 15 minute scheduled travel time.  The SEPTA R2 line actually parallels the main Amtrak Northeast Corridor rail lines from Center City through Newark DE, although Amtrak does not currently stop here.  The station also offers easy connections with several bus routes and offers parking and plenty of space for pick up or drop off passengers.

Immediately adjacent to the station there is a mix of single family homes, twins, and rows.  Primos Ave actually forms the border between Folcroft and Glenolden at this point.  Throughout the borough, row homes are the most common construction with the largest development being Delmar Village.  Like many areas in Delaware County and Suburban Philadelphia, prices have been drifting down for the last couple years.  The average sale price in 2007 was $129,000 which dropped to $118,000 in 2008, and to $92,000 so far this year.

Needless to say, activity has also taken a hit here recently due to the overall economy.  There are currently 40 homes listed as active on our MLS with 5 pending and 44 having been sold in the last six months.  The average price for those listed is $137,000 while those that have settled have averaged $116,000 (the 5 pending homes have an average price of $114,000).

With the economic stimulus bill that is now working its way through Congress, this area of Delaware County could be one of the first to benefit.  With its convenient location on the R2 Rail Line and being only minutes from the Philadelphia International Airport and I95 by car, it retains many advantages as a place to be called home in Pennsylvania.

As always, if you need anything, please do not hesitate to contact me anytime!

(All statistics from the TrendMLS system and believed correct but not guaranteed)