David Henke Realtor (r) Homes Just West of Philadelphia PA

Welcome to the Penfield Station on SEPTA's Route 100 High Speed Line connecting the 69th Street Terminal and the Norristown Transportation Center.

Penfield Station is actually the third station west of the 69th Street Terminal in northeastern Delaware County. Located on the eastern edge of Haverford Township, this station is a convenient stop for commuters generally from the Penfield section of Havertown and the Penn Wynne section of Montgomery County.

This is one of the smaller stations on the line and has very limited parking. It is an ideal local commuter station allowing the residents immediate access with minimal driving. All rail stops are on a requested basis right at the platform. The eastbound platform is adjacent to the small parking lot but it has plenty of space for dropping off or picking up passengers.

The surrounding area is primarily residential single family homes with some twins mixed in. The closest commercial is generally along Township Line Avenue just to the east of this residential section or toward Brookline and along Darby Rd to the south and west. The average sale price for homes in Penfield for the last year was $366,000 and there is currently one active listing. Just to the north in Penn Wynne Montgomery County, the average sale price for the last year was $328,000, but this reduced price reflects a much greater concentration of twins in the area.

As always, should you have any questions, please do not hesitate to contact me anytime.

(Above information from TrendMLS System and believed correct but not guaranteed.)

Concerned about development in Suburban Philadelphia? Worried about revitalization of a commercial area? Looking at the impacts on the surrounding residential areas? Are you thinking of starting a business? Considering a move into the state and need to know what resources are available?

Last night, State Rep Greg Vitali hosted a free public Business District Revitalization Workshop at the New Manoa Elementary School in Havertown for anyone interested in improving and revitalizing the local business districts. In addition to brief introductions by various elected officials, the presentations included five representatives from various organizations which covered the spectrum of resources available for communities and individuals for both private and public improvements.

In order of the speakers, we heard:
- Toni Crawford-Major Regional Director Commonwealth of Pennsylvania
NewPA - State of Innovation - www.newpa.com/index.aspx
- Julie Fitzpatrick Special Projects Coordinator - Pennsylvania Downtown Center
Pennsylvania Downtown Center - www.padowntown.org/
- Laura Goodrich Director of Marketing - Delaware County Commerce Center
Delaware County Commerce Center - www.delcopa.org/
- John Fleming Lead Business Development Specialist - SBA
SBA - Philadelphia - www.sba.gov/localresources/district/pa/phil/index.html
- Glenn McAllister Director - Widener Small Business Development Center
Widener University Small Business Development Center - www.widenersbdc.org/

The above individuals highlighted the wide variety of sources of help and funding for many business, residential, and commercial enterprises. The organizations demonstrated the importance and wealth of support that the State of Pennsylvania is providing to its citizens to improve both the business and residential environment in the state. The above can be used throughout Delaware County and Chester County.

If you have any questions or need any additional information, I would encourage you to check out the above web sites and contact them with additional questions and to identify the appropriate contacts for your projects. As always, if you need any additional information, please do not hesitate to contact me anytime.

If you are looking for a bit more stability in this volatile market, you may want to check out your options in Westbrook Park. Conveniently located in Upper Darby and Clifton Heights Pennsylvania, the community has always been a popular housing alternative. It is located close to Bishop Avenue, Springfield Avenue, and Baltimore Pike with easy access to both rail and highway connections and adjacent to the Westbrook Park Elementary School and Scullion Park/Westbrook Park Youth Association. These row homes offer great space at an affordable price.

Currently there are 14 homes showing as active on the market averaging $158,000 and topping out at $179,900. Most homes in the community have three bedrooms and one bath, but many have been upgraded with a second bath and in some units a fourth bedroom. Three homes are currently shown as pending with an average price of just over $165,000.

As we have seen in many areas throughout Delaware County, prices have declined slightly. The $152,000 average sales price for 2008 was down about 4% from the $159,000 average level of 2007. Sales were also down 23% to 62 units for the year from 81 units in 2007. The homes currently on the market have an average of 98 days on the market, but at the current sales rate the inventory should be absorbed within a three month period. In 2008, the average days on the market was 61 days; this was up from the 47 day average in 2007.

Westbrook Park should continue to be a popular housing choice. The pricing and sales activity continue to be fairly strong - certainly as compared to other communities in the region. With its convenient location, solid housing, and reputation, this would probably be one of the earliest communities to benefit from any uptick in activity.

(All information is from the TrendMLS System as of 1/20/09 and believed to be correct but not guaranteed.)

Beautifully Updated Split Level Home

Throughout the fifties and sixties, the Philadelphia PA and Delaware suburbs experienced a tremendous amount of growth. One of the primary style beneficiaries of this growth was the development of the split level home.

As homes expanded and families needed additional room to grow, styles shifted from predominately small ranch homes and custom built housing to splits and colonials. Splits in particular were very popular throughout this region due to their flexible floor plans and ease of construction on many land topographies. They were built in every style, shape, and location and proved a convenient alternative to both one level and 2+ story homes. Their flexibility, ease of access, and reduced stairs proved popular with both families and those who were looking for easier access.

Today, Pennsylvania and Delaware continue to contain a rich variety of split level homes in all shapes and sizes. From small to large, city to country, two to six levels, there is an endless variety of configurations. In Delaware County, in addition to entire developments of split level homes, they were also commonly used to infill lots in older developments as well as being built as single family homes on very large lots in the western townships of the county.

Since they are now frequently fifty to sixty years old, many are in the process of being redone: both updated to reflect today's tastes as well as being retrofitted to mirror the styles from when they were built. The beauty of the split level style is that many offer a fairly clean palette that can be modified to reflect almost any time or style.

After being passed on for years to more traditional styles, split level homes are now receiving increased interest as families again are looking at more imaginative and practical living opportunities.

It's about time.

Slowly but surely we are beginning to move in the right direction.

After a tough October and November throughout Delaware County PA, the numbers in December began to look a bit more robust. Although down, all the numbers are improving from the last couple of months. Overall, both units sold(339) and homes put under contract(253) were down 14% from December 2007, while new listings(388 ) were down approximately 7%. Average sold prices were down over 8% from 2007, but I would say this reflects more the mix of homes sold and the realities of the available financing rather than a dramatic shift in pricing. Countywide, average days on the market remains a bit higher at 78 days on the market, but time on the market varies widely depending on the price range as seen from the Luxury Market report.

Again, we are seeing a wide range of activity on a more local level. In Newtown Square PA, the number of homes sold(16) were up 23% from last year (with prices up 23%) while the homes put under contract(5) declined 45%, and newly listed homes(5) fell 61%. Next door in Marple Township PA, homes sold (6) declined 60% (with prices down 3%) with 6 new homes under contract (down 40%) and 9 new listings (-18%). Across the county in Lansdowne PA, homes sold during the month (9) declined 18% with an 8% price decline, while new pending (5) and new homes listed (10) both increased 25% from 2007.

Bottom line: We're getting there.

After a rough fourth quarter, it does look like we are trending back to a more stable market, but we may remain in a bit of a holding pattern until we see the new adminstrations' plans. In the short term, the overall unsettled economy will probably keep a rein on both prices and activity, but this remains one of the best buying opportunities we have seen in years with lower home prices, more inventory, and incredible financing for well qualified buyers. In addition, we have seen some move up activity as homeowners take advantage of the available financing and reduced prices to expand their options. Once financing becomes more available for the larger loans, this could help to accelerate the activity.

(All information is based on TrendMLS Market Statistics and believed correct but not guaranteed)