Around Burlington County

 Congratualtions to our Philadelphia Phillies!

  image credit: mike@bensalem

Let the party begin!  Philly phans were partying hard last night up and down Broad St.

image credit: dollarbilliam

Read full coverage of the Phillies historic win at the Philadelphia Daily News

See more pictures of the Phillies on Flickr

Next up...it's parade time!

Burlington County Real Estate Market Update

Well, the 3rd quarter is in the books.  So how is the real estate market doing right now in Burlington County?  Below is a couple of charts that should summarize all the available data.

First is the median price over the past two years. 
Compared to 2006, prices have dropped about 10%.  Compared to 2007, prices are down about 6%.  

The next graph shows the amount of homes sold over the past two years.  As many are aware, we are way off from two years ago in 2006.  However, when you compare 2007 to 2008, sales are only down 5.5% for September which isn't too bad after the 21% drop from 2006 to 2007.  You have to believe that this is a good sign considering how bad you hear about the market nationally.  

So overall prices and home sales have continued to drop, but at a much slower rate then what we've seen in the past.  Also, compared to national news, Burlington County is fairing much better.  This continues to be a buyers market as interest rates continue to stay at low levels.   

Data deemed reliable but not gauranteed.  Information from Prudential Fox & Roach AgentMetrics from 10/13/08

In Remembrance on Sept 11

This is the war memorial located in front of the Delran Municipal Center.  The plaque on the left names local residents from World War II and the Korean Conflict.  The one on the right are names from the first World War.

This photo is in my Delran NJ photo set on Flickr. All rights reserved

Images from Delran Labor Day Parade

Image Credit: PhastPhotos

Yesterday was truly a unique experience for Delran.  For the first time in recent memory, Delran hosted a Labor Day parade which brought residents out in force. Parents, friends and neighbors lined the streets to cheer the marching bands, soccer teams and of course Carli Lloyd - US Olympic Gold Medal winner.

Here are a few photos from the parade.  To view the full pictures you can visit my Flickr photo set

The photo above is of the Moorestown Community House located on Main Street in Moorestown NJ.  It's history goes back to 1926.  While many buildings from that time have a more colonial feel, the Community House was a combination of English & Colonial styles to help mimimize the cost to upkeep a brick exterior.  If you visit the Community House website, you can read more about the history around the development of this building. 

Today, the House is home to many clubs and organizations with meeting rooms, offices, a gym and indoor swimming pool.  In fact, I took my swimming lessons at this pool when I was growing up! 

This photo is in my Moorestown, NJ photo set on Flickr.  All rights reserved 

Yes, I used learning and fun in the same phrase.  The Franklin Institute in Philadelphia is a hot spot for school field trips and visitors of all ages because they do exactly that.  They make learning fun. 

There are several permanent exhibits to explore.  You can take a walk through a model human heart in The Giant Heart exhibit.  Space Command lets you learn about space and space exploration.  Learn all about trains and take a ride in a Baldwin 6000 at The Train Factory.  Other exhibits teach about electricity, air flight and more!  Also be sure to check out the nations second oldest Planetarium, an IMAX theater and the many traveling exhibits. 

If you've never been, I highly recommend taking the trip over the bridge.  It's located right in Center City at the corner of 20th St and Ben Franklin Pkwy.  If you take the Ben Franklin Bridge - Take 676 West. Exit at the "Ben Franklin Parkway/Museum Area" exit. At the top of the exit ramp, all traffic must turn right onto 22nd Street. One block later, turn right onto the Ben Franklin Parkway. Stay in the far right hand lanes. One block later, turn right onto 21st Street. One block later, 21st Street intersects with Winter Street. Just past the intersection, the entrance to the parking garage is on your left hand side.

Bucci Funiture Going Out of Business

Looks like another one is biting the dust.  First Dynasty Diner, now Bucci Furniture.

After 60+ years in Delran, this is the scene today:

And right across the street, construction is moving along real quick on Walgreens.  You know, because we're really desperate for a drug store in town!!

Photos around Burlington County - Mount Laurel, NJ

This fountain in located on Briggs Road in Mount Laurel - right off Rt. 38.  There are actually two of them, one across the street from each other.  I pass these each day as it's right around the corner from my office.

This photo is Day 6 of my 365 Days (A Day in The Life) photo set on Flickr.  All rights reserved 

Photos around Burlington County

Last Sunday I spent much of my afternoon at Lowe's in Delran as we're renovating our bathroom.  I did pick up a few things from Home Depot as well, but between the two in Delran I tend to prefer Lowe's.  It seems to be larger and usually has a better selection (in my own personal opinion).  The Home Depot in Burlington is pretty big and I do like that one...but it's more of a hike for me. 

So between the two, I tend to gravitate to Lowe's.  How about you?  Which do you prefer?

This photo is Day 4 of my 365 Days (A Day in The Life) photo set on Flickr.  All rights reserved 

Burlington County Real Estate Market Update - 2Q 08

Supply and Demand

If you read through my Camden County update, then the chart below should look very familiar.  Burlington County had been fairing pretty well until the summer hit.  As you can see, the number of homes for sale jumped way up and has been hovering just over 5,500.  This is the highest it has been in two years.  The number of homes selling continues to be at 500 or less on a given month.  Looking at percentages, only 6% - 9% of homes are selling and the ones that do sell, generally do so in about three months. 

Price

As I've said before, when supply is up and demand is down, down goes prices as well.  Below is the median price over the past two years and I believe the trend line says it all.  While you typically see seasonal adjustments over the summer, this summer is down compared to the past two summers about 4%. 

Bottom line - if you're trying to sell your home right now - you need to be in the top 10% of over 5,500 other homes.  There is much to choose from for Buyers out there and they know it.  Homes must show well, be available to be shown and must be priced accordingly! 

Ravi Shah, REALTOR^®
South Jersey Real Estate Blog
Prudential Fox & Roach
O: (856) 222-0077 x153
C: (609) 760-7852

Information based on Prudential Fox & Roach AgentMetrics reports on 7/22/08
Information deemed reliable but not guaranteed