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

Welcome to the Darby Station of the SEPTA R2 Regional Rail Line located just in the southeast corner of Darby Borough PA.

The SEPTA R2 Regional Rail Line running from downtown Philadelphia to Wilmington and Newark Delaware just crosses the southeast corner of Darby Borough. The Darby station is located in this corner of the borough at the 4th Street overpass of the SEPTA R2 Regional and the Amtrak Northeast Corridor Rail Lines. Colwyn Borough lies just to the east of 4th Street and roughly to the south of the tracks.

This is a nice spacious local station withsome limited parking on the southbound side but witheasy access for the local residents of both Colwyn and Darby Boroughs. There is plenty of adjacent space in the adjoining parking lot for dropping off and picking up passengers. The Darby station is located in a primarily residential area of the boroughs and is within easy walking distance of many local residents. The video should provide a better feel for the area:

There is a nice mixture of local real estate values in the area. The community contains a mix of single family homes, twins, and row properties. The area has seen a pull back in prices in 2009. From 2006 through 2008, the average sales prices held at just above $68,000. In 2009 year-to-date, the average price has pulled back to $54,000. Sales volume has also fallen from a peak of 184 homes sold in 2006, to 99 home sales in 2008, and only 55 so far in 2009. At this point, there are currently an additional 97 homes on the market with an average price of $72,000 and 12 homes are under contract at an average asking price of $53,000.

This is a convenient local station for both Colwyn and Darby boroughs with plenty of room for picking up or dropping off passengers and some limited available parking. It is also the closest R2 Regional Rail Line Station to the Philadelphia International Airport.

As always, if you need any additional information, please do not hesitate to contact me anytime.

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

Happy Labor Day!

Relax and Enjoy the Holiday with friends and family!

Go Phillies! Go Eagles! Go Flyers!

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

Delaware County PA currently has a 245 day inventory of homes on the market at the current sales rate.

For those that may visit my website, I keep a running tab of the current active, pending, and sold statistics for Delaware County on the front page. I just wanted to note that today, day number 245 in 2009, the number of homes sold in Delaware County finally surpassed the number of homes currently for sale - hence the 245 days of inventory.

We can't get the exact day this happens each year from our MLS, but here are some interesting points to contemplate:

--We hit the same point in early August last year and at the end of July in 2007.
--Inventories both years were over 4200 homes versus the 3168 homes today.
--In 2006, with slightly higher inventory, we reached this point in early July.
--In 2005, 2004, and 2003, the sold homes passed those on the market in early to late June on lower inventories ranging from 2400-2900 homes for sale.
--Inventory dropped 26% in the last year as the market stabilized.
--Year-to-Date Sales dropped 15% from 2008 and 39% from the peak in 2005.

The last time we had this level of home sale activity was in 1995 when there were only 3032 home sales to this same date. This sales rate had grown to a peak of 5250 homes sales on this date in 2005 (+73% in the decade) and has subsequently fell 39% by this year.

Overall, the market in Delaware County PA has remained fairly stable. Prices have come down moderately, but we neither saw the peak nor trough experienced in other markets in the country. Sales activity has fallen driven by uncertainties across the economy. Short term we could see additional home sales strength due to both the expiration of the first time home buyer's incentives and the historically low interest rates. Long term, we can expect a stronger market as the sales pace and demand return to a more "normal" rate as the economy and confidence recover.

Time will tell. As always, let me know if you have any questions.

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

The Lawrence Park PA real estate market in Marple Township Broomall PA is holding up very well.

After taking a hit in both volume and pricing through 2008, Lawrence Park has stabilized with the average prices even increasing just slightly for year to date 2009. As seen in the previous Lawrence Park Update, prices in the community had fallen from an average of $317,000 with 38 sales in 2007 to an average of $302,000 with 20 sales in 2008. In 2009, there has been some improvement.

After having no sales in January and prices hitting a low of $274,000 with one sale in February, prices have risen slightly. In March there were 2 sales at $290,000, 1 sale in April for $295,000, 1 in May for $340,000, 3 in June at $303,000, and 4 in July for $312,000 for an average year-to-date sales price of $304,000. This average is expected to drift down a bit as there is one pending sale for $299,000 and there are currently 4 additional properties on the market with an average list price of $292,000. Generally prices weaken as we head toward the end of the year.

Unlike many areas in Delaware County PA, Lawrence Park has been able to maintain a relatively stable home pricing environment. As noted before with its prime location, great housing, and easy access, Lawrence Park should retain its reputation as a great place to live. This should continue to be reflected in a more stable real estate market with relatively consistent pricing as the economy continues to slowly recover.

As always, if you have any questions or need any additional information, please do not hesitate to contact me anytime.

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

The Delaware Valley Historical Aircraft Association (DVHAA) has quickly established the Wings of Freedom Aviation Museum in Willow Grove PA as a leading historical aircraft museum.

If you have the opportunity to travel a bit further afield and are interested in aviation history, you should take the opportunity to visit Willow Grove and the Wings of Freedom Aviation Museum. The museum is on the grounds of the Willow Grove Naval Air Station property but is accessed directly off Route 611 about 1/2 mile south of the main entrance - and admission is free!

The DVHAA was founded in 1972 to preserve and maintain the historic aircraft on the Willow Grove base. Needing a display area, the DVHAA worked to develop the Wings of Freedom Aviation Museum in Willow Grove PA to house the Delaware Valley Historical Aircraft Association's historic planes including the Messerschmitt ME-262 Fighter trainer. "The Messerschmitt ME-262 was the world's first operational jet-powered fighter aircraft." Due to the long time dedication of the DVHAA volunteers, a new facility was ready in the summer of 2000 for the future restoration projects of the Association and the museum was completed in 2001.

The Willow Grove location was not chosen by accident as the collection was originally started in 1946 when LCdr David Asher rescued several historic aircraft from the scrap yard for display in Willow Grove. These included some incredibly rare and historic aircraft some of which have needed extensive restoration. Over the years, most of the original Asher Collection was transferred to other facilities leaving only the ME-262, but newer historic aircraft have continued to be added to the collection.

Today the collection encompasses 14 aircraft and many additional diplays covering aviation history from World War I to today. The museum is open Wednesdays, Thursdays, and Fridays from 10:30-3:00 and Saturdays and Sundays 10:30-4:00. It is easily accessible by following Route 611 north from the Pennsylvania Turnpike about 3 miles. The parking lot is on the left just south of the NAS JRB Willow Grove Main Gate.

This is a great educational way to spend a day and enjoy another local attraction. Relax and enjoy.

If you ever need any information or have any questions, please let me know.