FOR IMMEDIATE RELEASE___________________________

$8000 Tax Credit for First Time Home Buyers-Extended

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.

For sales occurring after November 6, 2009, the Act establishes income limits of $125,000 for single taxpayers and $225,000 for married couples filing joint returns.

The income limits for sales occurring on or after January 1, 2009 and on or before November 6, 2009, are $75,000 for single taxpayers and $150,000 for married taxpayers filing joint returns.

The following questions and answers provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.

 

$6500 Move-Up/Repeat Home Buyer Tax Credit

The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010).

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Media Borough to receive the Governor's Award for Environmental Excellence
Media Borough Council has been awarded the Governor's Award for Environmental Excellence for the year 2006. A ceremony recognizing this achievement will be held May 3, 2007 from 3pm to 4pm at the Media Theatre at Monroe and State Streets. Pennsylvania Department of Environmental Protection Secretary Kathleen McGinty will be on hand to present the award.

The Borough of Media is being honored for their Solar Energy for Media Initiative that has installed 5 kilowatts on each of four buildings in the borough: Media Elementary School, Media Upper Providence Library, Media Theatre and the Media Fire House. The initiative was conceived by Councilman Pete Alyanakian who has lead Media's Environmental Advisory Committee since its inception in 2004. This is the fourth award the initiative has won including two Penn Future Awards as Cleanest Borough in PA, and the Southeastern PA Associations of Environmental Advisory Committees Environmental Recognition Award. These installations will bring the total amount of kilowatts produced in the borough to 25kW. The project is the beginning of a clean energy micro grid in Media that will provide electricity for vital civic function during a state of emergency. There is a 5kW system on the Media Armory that was the first building in Media to receive solar panels as well as the first Energy Harvest Grant for solar panel installation.

The five solar PV systems will produce approximately 25,000 kilowatt-hours each year. Solar generated energy is one of the cleanest energies. It uses the light of the sun to make electricity. The advantages are a reduction in green house gases that will reduce global warming. The next advantage to solar power is a reduction in the importation of foreign oil. This project has a strong educational component, as there will be educational displays at each site. This installation added to the Borough's inventory of PV making the Borough of Media the leading municipality in producing clean energy in Pennsylvania.

Media will develop solar RECs (renewable electricity credits) that will add to the portfolio of renewable energy produced in Pennsylvania. While the total amount of solar is small compared to use, the small amounts of solar electricity will offset demands on the grid. This process will gradually add up over time, and all utility ratepayers will benefit. This is because solar produces the most electricity on summer days, especially summer afternoons, when air conditioners are in full use and people arrive home, turning on TVs and computers. Solar energy creates load reduction for the major energy grid and reduces market price for the borough and other stakeholders. By taking the edge off demand from the grid, utilities will not need to fire up backup generation plants as often. The effect will be less costly summer electricity for all. By investing in small customer sited photovoltaic generation, the Commonwealth has helped reduce needed investment in new natural gas and nuclear power plants. The question is where do we want to be in the next 20 to 30 years, as oil production declines? Media Borough is showcasing solar energy and legitimize the use of this vital and proven technology. By reducing our peak energy demand, the Borough will lessen its energy bill throughout the year.

The Borough of Media is planning continued development of a new electric grid based on distributed solar generation, and through these projects, demonstrate the viability of solar power in urban settings

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Chester County Market Statistics
3rd Quarter (July 1 – September 30, 2008)

Date

Units Listed

Listed Volume

Listed Average

Pended

Units Sold

Sold Volume

Sold Average

Average DOM

Sep 2008

889

423,071,205

475,895

353

402

143,474,031

356,900

74

Aug 2008

687

293,892,539

427,791

364

507

205,524,111

405,373

76

July 2008

871

388,012,731

445,479

473

543

199,029,785

366,537

69

 

 

 

 

 

 

 

 

 

Totals:

2447

1,104,976,475

451,563

1190

1452

548,027,927

377,429

73

 

 

 

 

 

 

 

 

 

Pricing Details of Sold Units for the Date Range Selected

Minimum Prices

Maximum Prices

Average Prices

Original List Price : $1,450

Original List Price: $7,500,000

Original List Price: $403,543

Sold Price : $1,450

Sold Price: $6,000,000

Sold Price: $377,429

Delaware County Market Statistics
3rd Quarter (July 1 – September 30, 2008)

Monthly Statistics for the 3rd Quarter

Date

Units Listed

Listed Volume

Listed Average

Pended

Units Sold

Sold Volume

Sold Average

Average DOM

Sep 2008

929

308,746,764

332,343

373

412

107,617,060

261,206

75

Aug 2008

732

204,577,157

279,476

389

510

147,780,624

289,765

65

July 2008

908

264,746,036

291,570

458

499

149,287,499

299,173

59

 

 

 

 

 

 

 

 

 

Totals:

2569

778,069,957

302,868

1220

1421

404,685,183

284,789

65

 

 

 

 

 

 

 

 

 

Pricing Details of Sold Units for the Date Range Selected

Minimum Prices

Maximum Prices

Average Prices

Original List Price : $12,900

Original List Price: $2,495,000

Original List Price: $303,213

Sold Price : $10,500

Sold Price: $2,477,908

Sold Price: $284,789

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4/6/09-Mortgage Rates are Ideal for Buying

Rates are hovering near 50-year lows. Contrary to perceptions, conventional mortgages are widely available at favorable interest rates for the bulk of homebuyers. For current homeowners looking to upgrade, low interest rates coupled with recent corrections with prices provide an opportunity to take advantage of market conditions.

4/6/09- Homeownership is one of the Best Financial Investments

Recent surveys show that 9 out of 10 consumers consider homeownership to be a sound financial decision. Given the leverage in purchasing a home, the average return on a 5% down payment over 10 years is usually three to five times greater than the stock market. If you bought a house seven years ago, it would be worth 25% more in Chester County, 36% more in Montgomery County, and 55% more in Delaware County.

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America's Only Fair Trade Town: Media, PA

by Kara DiCamillo, Newport, Rhode Island on 01.19.07
mediapa.jpg fairtradelogo.jpg.gif

There are 300-plus designated Fair Trade towns in Europe that all work to not only support fair wages but also to reduce their ecological impact. This is what inspired the town of Media, Pennsylvania to anoint itself as the first “Fair Trade town” in the United States. Located just outside of Philadelphia with a population of about 6,000, this means that the community has thoughtful and inspired consumers and retailers who want to use their buying power to improve the lives of others. To become a Fair Trade town, Media used five criteria, established by the British & European Fair Trade movements: 1) The Media Borough Council passed a resolution supporting Fair Trade, and committing to serve Fair Trade coffee and tea at its functions. 2) A range of Fair Trade products are readily available in Media’s shops and restaurants. 3) Fair Trade products are used by a number of local work places (such as law offices) and community organizations (such as churches). 4) Media coverage is provided and there is popular support for the campaign. 5) A local Fair Trade steering group from a diverse representation of institutions is working to ensure continued commitment to Fair Trade Town status.

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4/1/09- Emergency Messages Provide Warnings For Residents of Delaware County
Residents of Delaware County are invited to enroll in "Delco Alert," a regional community alert system which transmits emergency text messages of public warnings.

County Council Vice-Chairman John J. Whelan said the alerts provide emergency information via text messages and e-mail devices of threats to security, severe weather, road closures by the Pennsylvania Department of Transportation on major highways and other dangers and emergencies.

"Delco Alert" is the identity in Delaware County of ReadyNotifyPA, which is administered by the Roan Secure Alert Network (RSAN) in the five-county southeastern Pennsylvania region which also includes Bucks, Chester, Montgomery and Philadelphia counties.

Residents can sign up to receive the alerts at www.co.delaware.pa.us, the Delaware County Government Web site, and using the "Delco Alert" link.

Entire families can be enrolled in the system under a single user name. Points of interest such as residences, schools and workplaces can be marked on a map so warnings concerning those locations can be sent to the user. Residents can receive warnings which are local or regional.

Residents who work or go to school in Philadelphia or another county can sign up to receive warnings from those jurisdictions as well as from Delaware County, Whelan said. He said any information provided will remain confidential within the system and will not be used for anything other than sending emergency messages.

Whelan encouraged residents to enroll to receive text or e-mail messages from as many counties as necessary to fully benefit from the system.

"We live in a region with nearly 3.5 million people who cross county lines regularly to travel to and from their homes, jobs, schools and to pursue other interests," he said.

"Whether we are dealing with floods, severe storms or threats to homeland security or other threats or dangers, we recognize that emergencies don't stop at our borders."

There is no cost to enroll in "Delco Alert." However, recipients of the messages may be charged a fee by their service providers if there is a charge to them for such messages.

If having difficulty understanding the instructions to enroll in the system, contact the Delaware County Emergency Services Department from 9 AM-4 PM Monday-Friday at 610-565-8700 or send an e-mail to rsanhelp@icdc.com for assistance.

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4/1/09- The Media-Upper Providence Free Library is offering a programs titled "Fit For Life--Fit Over Fifty" on Wednesday, April 15th at 7:00 pm in the library. The program combines the best of low impact aerobics, dance, strengthening and stretching, balanced with Ballet, Yoga, Pilates and Tai Chi based movement as well! A great chance to learn about fitness, healthy eating and all of the wellness programs that may be offered near you!

Please register online (www.delcolibraries.org), by phone (610-566-1918) or in person at the library. Fit for Life is a program of the MetLife Foundation and Libraries for the Future. The Media-Upper Providence Free Library is located at 1 East Front Street in Media.

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SRA Morton Borough will consider a proposed ordinance that would require every owner of property within the Borough of Morton to install and maintain at least one carbon monoxide detector on every floor used for human habitation by no later than July 1, 2009. The ordinance is scheduled for adoption on April 8, 2009. Click here to read the proposed ordinance. Please contact Suburban REALTORS Alliance staff at esmist@suburbanrealtorsalliance.com with any questions or comments.

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New Real Estate Agent Website Launched, 3/31/2009 - We are proud to announce the launch of our new state of the art Real Estate Services Web site today. The new site is powered by a la mode, inc. net.X technology, which integrates and leverages a range of desktop and Internet applications and data sources to extend the network to better serve our clients.

This new site provides streamlined services for existing as well as potential new clients, while also providing our staff with technology integration that allows us to be more effective in our daily operations. Not only can clients view our listings, but they can also search for a home or get pre-qualified for a mortgage and much more. The new site also provides rich multi-media content for potential new clients, showing them the benefits of hiring a professional Agent in an engaging, highly professional presentation format that will create new demand for our services. Going forward, the underlying a la mode net.X platform of our new site means that we are automatically going to be adding features and capabilities to meet our changing business requirements and keep up with the technology curve in Real Estate. We are a full service Real Estate Services firm and a recognized leader in the local market. Our firm combines a focus on customer service with the utilization of technology to provide clients with the highest quality and fastest turnaround times in the market.

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