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Week of June 23, 2008
Remodeling may be answer for those who can’t move
By Eileen Alt Powell, AP Business Writer
With credit markets ever so tight, many families are deciding against shopping for new houses and, instead, are remodeling their current homes. But there can be financial pitfalls in remodeling, especially for those taking on major tasks such as room additions or full kitchen makeovers.
For one thing, some families may have as much trouble getting a loan or a line of credit to upgrade a home as they would getting a new mortgage. And as home prices have dropped in many regions, it can be harder for a family to recoup the money it puts into a remodeling project.
As a result, the Joint Center for Housing Studies at Harvard University expects home improvement activity to slow this year, possibly by as much as 5 percent, before picking up again in 2009. Still, for some families, remodeling can be a good strategy, said Dan Fritschen, author of “Remodel or Move? Make the Right Decision.”
Chris Satullo: Sliced, diced and gerrymandered
By Chris Satullo , Inquirer Columnist
Ride with me as I defy death by merging onto northbound Route 309 at Fort Washington. How 'bout we let that Hummer barrel past? (Nice mileage, pal!) Now, we spot an opening and zoom it.
There, we're on. In the seconds that took, we moved from the 153d State House Legislative District into the 151st. And in the time it took to say that, presto, we're in the 148th!
Yet we've never left Upper Dublin Township, Montgomery County. Three districts in 20 seconds, and we still haven't fully sampled the gerrymandered cornucopia that is Upper Dublin. Its 26,000 souls are divvied up among four legislative districts and two congressional districts.
Senate advances housing bill by veto-proof margin
By Manu Raju, TheHill.com
The Senate voted overwhelmingly to end debate on a major housing-rescue package Tuesday, signaling there is enough support to override a veto.
With polls showing voters increasingly concerned about the mortgage and foreclosure crisis, the Senate responded by setting up a final vote that would authorize a $300 billion expansion of the Federal Housing Administration's insurance program for struggling homeowners. The measure also includes almost $4 billion for grants for states to take over foreclosed properties, a provision strongly opposed by the White House.
Sewer plan draws ire in borough
By HILARY BENTMAN, The Intelligencer
During the past few years, new development in Richland, once a fast-growing township, has nearly grinded to a halt because of sewage capacity problems.
But the township has a solution, and it's one that does not sit well with the folks in neighboring Quakertown.
On Monday, representatives of the Bucks County Water & Sewer Authority presented borough council with a $4 million proposal to expand Quakertown's wastewater treatment plant, which services Richland, so it can handle increased sewage caused by new development.
That new development is estimated to be 250 to 300 new homes in Richland each year for the next 10 years or more.
Borough moves closer to safety inspections
By HILARY BENTMAN, The Intelligencer
After months of debate, Quakertown officials are putting the final touches on new regulations for routine fire and safety inspections of the 1,700 residential rental properties in the borough.
Landlords would be required to pay an annual $40 inspection fee per unit, open their doors to inspectors once every three years and register each unit with the borough.
Officials said the proposal is designed to promote health and safety, but some have blasted it as an invasion of privacy.
Council will vote July 2 on the regulations.
Planners push new vision for Philly waterfront
The Associated Press, The Philadelphia Inquirer
Mayor Michael Nutter is ready to announce a major reorganization of Philadelphia's Penn's Landing Corp.
With that on Thursday evening is expected to be the unveiling of an ambitious development plan for the Delaware River waterfront.
Penn's Landing Corp. has been plagued by corruption scandals and development failures since the agency's creation in 1970.
Its reform is the top recommendation in a 10-point plan by PennPraxis, a nonprofit planning group affiliated with the University of Pennsylvania.
The program, called Civic Vision for the Central Delaware, will encompass the area from Oregon Avenue north to Allegheny and the water's edge to Interstate 95.
