Home Builders Association of Chester and Delaware Counties

HBA Newswatch

May 14, 2008

VOTE ON BRYN MAWR DOWNTOWN PLAN TONIGHT
By Diane Mastrull
INQUIRER STAFF WRITER
The first real step toward a long-envisioned, much-debated revitalization of the Main Line village of Bryn Mawr could come tonight.
The Lower Merion Township commissioners are expected to listen to public comment and then vote on a new zoning plan that would allow the kind of height and mix of housing, retail, office and open space that revitalization consultants have recommended for transforming the aged, low-rise downtown.
The plan involves remapping much of Bryn Mawr (population 4,380) into four village zoning districts, and adopting a new ordinance that sets out allowable development uses and building standards for each zone. Together, the village zones stretch a mile along Lancaster Avenue and reach into both sides of the commercial corridor.
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US FORECLOSURE FILINGS SURGE 65 PERCENT IN APRIL
LOS ANGELES (AP) --- More U.S. homeowners fell behind on mortgage payments last month, driving the number of homes facing foreclosure up 65 percent versus the same month last year and contributing to a deepening slide in home values, a research company said Tuesday.
Nationwide, 243,353 homes received at least one foreclosure-related filing in April, up 65 percent from 147,708 in the same month last year and up 4 percent since March, RealtyTrac Inc. said.
Nevada, Arizona, California and Florida were among the hardest hit states, with metropolitan areas in California and Florida accounting for nine of the top 10 areas with the highest rate of foreclosure, the company said.
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PHILADELPHIA AREA HOME OFF 32% FOR QUARTER
By Alan J. Heavens
Inquirer Real Estate Writer
Existing-home sales in the region and nation continued their decline in the first quarter of 2008, although the Philadelphia area continued to fare better than most other parts of the country.
Sales in the eight-county region fell 32 percent for the quarter, according to Prudential Fox & Roach's HomExpert, which is based on data from the Trend Multiple Listing Service.
Median prices overall fell 0.5 percent in the combined counties of Bucks, Montgomery, Chester, Delaware and Philadelphia. In Burlington, Camden and Gloucester Counties, prices dropped 2.4 percent combined.
Existing-home sales nationally fell 22 percent in the first quarter from the same period in 2007, the National Association of Realtors reported.
The median national existing single-family home price was $196,300, down 7.7 percent from the first quarter of 2007 median of $212,600, the NAR reported.
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