Is the market really slow?

I spent some time in my last post, discussing overall market conditions in the Yardley area. Everyone knows we are in a buyers market, and the statistics prove that.

However, there is a segment of the market, that is actually doing much better of late. In certain neighborhoods, primarily townhomes, houses that are priced effectively, are moving quite well. Case in point.

First time home buyer:

I have recently been showing houses to a very motivated, first time homebuyer. I really enjoy the process of making the home buying experience, clear and smooth, when working with this particular demographic. We spent several visits, looking at townhomes in a number of communities in the area, both in Bucks County, Pa, and in Mercer County, in New Jersey. The buyers decided that they liked a community just outside of Newtown, called Newton Grant.

After looking at 5 houses in the community on Thursday, the buyers planned to come back to my office on Sunday, to make an offer. Despite all the information in the press, about how horrible the market is, by Sunday, several of the houses we looked at, were sold. There are 5 townhomes, in Newtown Grant right now, that are pending, which means an offer has been accepted, and they are just waiting for closing. I spoke with a listing agent this evening, about another home that is on the market in the same community, and she is expecting 2 offers to be delivered, tonight.

The townhouses in Newtown Grant, are in a price range between about 285,0000 and 360,000. Some have basements, others don’t. I think the community is priced at a level that makes it attractive for first time home buyers. I believe that is why this community appears to be out performing the market, in general. The lesson in all of this is, that it is possible to sell your house, even in tough market conditions. In addition, because of the tax incentive for first time home buyers, and low interest rates, it appears as though the market for houses that are within reach of first time home buyers, is performing reasonably well.

If you would like more information on Newtown Grant, or other, similar communities, please call or email me.

This entry was posted on Monday, March 23rd, 2009 at 5:19 pm and is filed under Buying Real Estate, First Time Home Buyers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.