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Well - it looks like we may be losing our Congressman but possibly gaining a new Senator. Delaware County PA is once again lining up to be a key battleground in the 2010 election on the national stage.
Last week, the local Delaware County Times reported that "Sestak (is) All But In For Senate Race". What does this mean? What are the local impacts? Too soon to tell, but let's put a little perspective on it.
Joe Sestack is currently the local Pennsylvania US Representative in Congress (Brady represents a small portion of southeastern Delaware County). He won his 2008 race last year against Republican W. Craig Williams by a vote of 209,955 (59.6%) to 142,362 (40.4%) . He continues to be popular in the local area and won his seat originally by beating out longtime local Representative Curt Weldin in 2006.
Delaware County itself is trending increasingly Democratic. As of May 1, 2009, from an over 2:1 majority in the early 2000's, registered Republicans now number 189,977 (46.7%) in the county versus 172,946 (42.5%) for the Democrats and 43,600 (10.7%) for other parties. In the State Senate, the county elected 1 Republican, Dominic Pileggi, and 1 Democratic, Daylin Leach, in the 2008 races. For the Pennsylvania State House in 2008, Delaware County elected 5 Republicans, 5 Democrats, and one who was represented on both tickets. Bottom line: we're pretty well split down the middle but still leaning Republican.
Sestak's potential Senate primary competitor, Arlen Spector, won his statewide US Senate race comfortably in 2004 against Joe Hoeffel by 2,925,080 (52.6%) to 2,334,126 (41.9%) . He was in a much tougher primary against Pat Toomey which based on the trending demographics he felt he would be unable to win against in a Republican primary in 2010. He switched parties to the Democrats based on his feeling that he would have a better shot of getting through the primaries to the general election.
Sestak clearly doesn't intend to walk away. According to the TPM website, the move has not deterred him and he is close to making a final decision. This is certainly supported by his latest notes to his supporters. Now it appears we are going to have a very competitive primary on the Democratic side rather than the Republican side.
Can he win? Too early to say, but 2010 is already shaping up to be an interesting race in the local area.
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Well, today we're at the end of the 101 Trolley Line in Media PA Delaware County. The SEPTA 101 Trolley runs from the 69th Street Terminal Station out to just west of Orange Street on State Street in downtown Media. The final stop is just two blocks north of Baltimore Av/Baltimore Pike and two blocks from the County Courthouse.
Any of the downtown Media trolley stops are convenient for commuters coming into the borough. State Street itself is lined with commercial activity, restaurants, and other entertainment. The surrounding area is filled with professional offices, the Delaware County Courthouse, and supporting economic activity. Although there is no dedicated SEPTA parking in the area, the trolley stop is within easy walking distance to many residential areas and offers convenient access to other local Delaware County communities to the east as well as links to Philadelphia itself.
As far as homes in the area, the market has remained mixed. Media has a wide range of housing from small apartments to condos, town-homes, twins, single family homes, and small estates. This diversity is what makes the borough a prime attraction for many residents, but it also somewhat limits overall generalizations as far as pricing. As you have seen in many other areas, prices appear to have peaked in 2007 with the average sales price for residential properties reaching $328,000 with 66 sales. Since then we have seen prices pull back to an average of $270,000 with 57 sales in 2008, to $235,000 in the last six months, and finally to $225,000 in 2009 with 10 sales settled to date. On the surface this looks dramatic but appears more of a switch in the mix of sales rather than a major price decline. Today, we still have an additional 7 properties under contract with an average list price of $331,000 and 28 additional properties on the market for an average asking price of $359,000 so the short term average will rise. Prices have pulled back, but the market is too diverse to use the borough numbers exclusively without additional investigation.
So again, welcome to Media PA. It's a great suburban Philadelphia borough full of business, entertainment, and housing with easy rail accessibility by Trolley as shown here and by the regional rail system to be covered in the future. Should you have any questions on the area or be thinking of making a move, please feel free to call anytime.
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Are we giving the media more control than they deserve? I mean look how easy it has become to track real estate activity based on what's reported in the media as the daily mantra. Sure there are problem areas across the country, but for the most part I believe there is pent up energy to buy real estate and many markets are in fairly decent shape with only a minimum roll back in prices from their highs. For example, we had a great September in our local market place and it looked like things were really starting to shape up, until the media starting beating the Great Depression mantra.
Does anybody think for one minute in this world wide economy that the richest nation on the face of the planet is going to be let slip into a depression? Sensational journalism and fear mongering have contributed to the worst panic sell-off in history, but I believe you will see the markets recover rather quickly. I for one am tired of the sensationalism.
One last thought: How about no taxes on capital gains? Now that's a stimulus package that would pump sidelines dollars into real estate.
Regards!
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Republican Presidential Candidate John McCain along with running mate Sarah Palin visited Media, Pennsylvania this past Monday in a rally in front of the Delaware County Courthouse. It is estimated that between 10,000 and 15,000 residents of Delaware County and the surrounding areas came out to support (or in some cases protest) the event. I took my 10 year-old daughter to the event as I thought it would be a good educational experience for her and also a good opportunity to spend some time in seat of Delaware County.
I'm almost embarassed to admit this but although I've lived in Delaware County for the past 6 years I've never really spent any time in Media. I live in Secane and although it is about 5 miles from downtown Media, I seem to never venture further west than the Springfield Mall. Ok, I am exagerating slightly as I have attended performances for the past 2 summers at The Media Theatre but still I never really realized all the little shops and restaurants with outdoor seating that Media has to offer until this trip. No wonder it bills itself as "Everybody's Hometown."
Another thing I noticed is that the Delaware County Courthouse with its clocktower and the Veteran's Square Area around the courthouse reminded me so much of the movie Back to the Future. I half expected to see the DeLorean drive up to get Marty McFly back to the 80's. Instead John McCain's tourbus "The Straight Talk Express" drove through the square and let the candidates out into the crowd. That was almost as exciting.
I will also note that the people at the rally and the people of Delaware County in general are pretty nice ( I grew up in Philadelphia). Everyone in the crowd was talking and laughing with one another as though they were old friends and several taller members of the crowd offered to take some pictures for me as they could get a better view than I could. Unfortunately, I don't have the greatest camera and my batteries were dying so my pictures could be better. After the rally we had dinner at Pinnochio's Pizza on Baltimore Pike which has been in business for over 50 years. The pizza was pretty good,with a very thin crust, still I'd love to come back to Media someday and check out some of the other restaurant offerings. Maybe for the next political rally...
Written by Michelle Chamberlain of Above All Financial Services, a Delaware County Mortgage Broker. To apply for a Pennsylvania Mortgage loan or to learn more visit www.aboveallmortgage.com.
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