Yardley Insurance Expert Offers Ten Insurance Considerations For Every New Business Owner to Consider
I am part of an extremely productive and active networking group that meets every Tuesday morning at 7:00 am. We meet at the Yardley Inn for breakfast. Our single goal in our networking group is to generate business for each other. We have about 40 great professionals in our group, which is called Le Tip of Yardley. Check out the link to our Facebook page.
This morning Gabe Schick, who is the business insurance professional that I refer to on a regular basis, gave us a great presentation that I thought would be worth sharing, since I often work with people who are moving because of business start ups in Bucks County. Gabe is with the Makefield Agency in Yardley. This morning, he shared with us 10 insurance considerations for every new business owner to consider. This list is not all inclusive, but it is definitely a great place to start for anyone considering starting a new business.
1. Consult a licensed insurance professional during the business planning phase. The time to work on structuring insurance is in the planning stage, not the day your business will open.
2. Make sure that you consider the physical condition of the building that you are about to buy or lease. Things like square footage, age, flood zone, construction type, condition, etc, can all directly affect your premium.
3. Workers Compensation. Gabe suggested that you should assume that you will need it. The information and classification rates can be found on the State website, but it is important that you speak with an insurance agent as well as an accountant and/or attorney in the state in which you’ll be doing business.
4. Have a general idea of what you anticipate your gross annual sales and payroll will be. This will help your insurance professional determine your business interruption and workers comp coverages.
5. Call an insurance professional at least one (1) week prior to signing a mortgage or lease. More lead time gives the agent a better chance to find the best possible rates. Many real estate transactions have been delayed due to insurance requirements not being met.
6. Consider elements of your business that may be better left to vendors, sub-contractors or even competitors. For instance, if you are opening a restaurant, you can save a huge amount by establishing a BYO as opposed to a full service, liquor-licensed establishment.
7. Will your business have a board of directors? Special coverage may be necessary to protect the board from suits brought by employees, shareholders, etc.
8. Do you hold a professional license, designation or credential? If so, you may need errors and omissions insurance.
9. Should your car be titled in the company name? Again, this may be a question for your accountant or attorney, but commercial auto rates tend to be 18-30% higher than personal rates, according to Gabe. Will employees be required to use your vehicles, or their own, on the job? Those questions will effect rates.
10. Make a list of risks to your industry that you are aware of. Share the list with your insurance professional so that you are sure you are being protected.
As I mentioned, I have worked with personally and referred many clients to Gabe Schick at the Makefield Agency. Gabe and his agency are absolutely wonderful to work with. Click on the hyperlink at Gabe’s name, to get to the agency website. His direct number is 215-321-0281.
If you are considering starting a business, or are buying a business, I hope that this information is helpful.
Continue Reading > Add a Comment |Moving To or From Yardley, What Are the Top 6 Forgotten Items During a Move?
Moving day can definitely be a hectic day!
For people moving in and out of the Yardley area, because of how hectic moving day can be, people often leave behind very important things, that will be sorely missed at their new home. In order to help prevent that, I put together this list of what I see as the six top forgotten items during a move.
1. Jewelry, watches and small valuables. These small, sometimes expensive and often irreplaceable items should be kept in a safe deposit box, or kept with trustworthy friends or relatives on moving day.
2. Garage door opener. Be sure to leave your old garage door openers behind, and be sure to get the garage door openers to your new house. Most new cars have a button that you can program, that replaces the old fashioned garage door opener. The problem is that in most of those cars, you need the garage door opener to program the button!
3. Spare keys. Make sure you leave behind all spare keys. And like the garage openers above, make sure you receive keys to your new house. I know that it sounds impossible, but I have heard stories of buyers closing on a house and then rushing to meet movers, only to realize that they never received keys to the new house. Don’t let that happen to you.
4. Old address books. I realize that most of us use smart phones, Ipads etc., as our address books. However, I know that there are still lots of people who use old fashioned address books. Often, if a home owner has been in their house for a long time, the reliable old address book may be stashed in a drawer somewhere. Be sure to bring it with you.
5. Unfinished errands. Again, this would seem to be fairly obvious, but I have heard stories. Do you have clothes at the dry cleaner? Books due at the local library? For those who still rent things like videos or games, have they been returned? It can be a mess to deal with those things, once you have moved, especially if you are moving any distance.
6. Medical records. Although there is a lot of medical information that is digital these days, you should be sure that you don’t misplace copies of medical records, including dental information and prescriptions. It is very easy to lose those things when they are stashed at the bottom of a hastily thrown away box.
I try really hard to make sure that my clients’ experience as both buyers and/or sellers is as smooth as possible. That includes the actual move. If you are interested in a hassle-free home selling or buying experience, please get in touch today. You can reach me at 215-519-1399 or Marty@MartinMillner.com
Any important items that I have overlooked?
Continue Reading > Add a Comment |Year End Real Estate Update for Bucks County & Yardley
Time to take a look at what happened in our real estate market in Bucks County and Yardley in 2011.
As noted on the Bucks County real estate chart below, we can see that the number of houses sold in all of Bucks County was 3% less than the number of houses sold in 2010. (There were still 4423 homes sold in Bucks County in 2011). The number of homes sold in December of 2011 though, was 11.6% higher than in December of 2010. This was the sixth consecutive month that unit sales in the County were higher than the previous year.
Prices of homes sold in 2011, in Bucks County, fell by 5.5%. As you will see in the Yardley data, home prices in Yardley/Lower Makefield Township did better than that in 2011.
Pending sales remained about the same as they were a year ago at the same time.
Bucks County real estate inventory is 9.2% less than it was a year ago, and more than 10% than it was in November of 2011.
Finally, the average listing price of a home for sale in Bucks County, is down by 3.5% from a year ago at this time.
What does this all mean? Specifically for Lower Makefield Township, there is now a 7.2 month inventory supply. We consider a market to be balanced, when inventory is about 6 months. It seems as though in the Yardley area, we are getting closer to balanced market conditions. Average days on the market is 87 right now, compared with 72 last year. Buyers are still negotiating an average of 8% discount from original asking price.
As I suggest on a regular basis, market conditions demand that sellers who are serious about selling, be realistic in their asking price. I see it over and over again, that over priced homes, help the realistic sellers get their home sold!
Continue Reading > Add a Comment |So, You Received a Low Ball Offer on Your Yardley, Bucks County House?
The issue of so-called “low ball offers” comes up relatively frequently these days, for both buyers and sellers of houses in Yardley, Newtown, and all over Bucks County.
I have worked with buyers, who erroneously feel as though the real estate market in Yardley is similar to the real estate market in Arizona. Those buyers often think that they can take an asking
price and immediately knock off 15% because in their mind, sellers are desperate.
I have represented sellers who are on the receiving end of these low ball offers.
So, the question for today is, if you are selling your house in Yardley and you get what you perceive to be a low ball offer, what should you do about it?
1. Leave your emotions at the door! I can’t emphasize this enough. I have been involved with successful transactions, where the initial offer was literally tens of thousands of dollars lower than what we ended up agreeing to. Part of my job as an agent representing a seller, is to try and take the emotion out of the process. An offer means that someone wants to buy your house. Considering the competition, that is a good thing.
2. Counter! Again, as I mentioned before, I have seen Bucks County real estate transactions go to closing, where the initial offer was thousands of dollars less than what was ultimately accepted. Without a counter offer, you never really know what the buyer is willing to do. There are buyers in today’s real estate climate who feel as though they are expected to make very low offers. As long as buyers and sellers are communicating, and getting closer to an agreed-upon price, progress is being made. Don’t close the door, by refusing to counter.
3. Consider more than just the price. Make sure, when evaluating an offer, that you consider the terms. Is the closing date good for you? Is the buyer bringing a lot of cash to the transaction, so that the appraisal may be less of a factor? Although it doesn’t always seem so, there is a lot more to an offer than just the price.
4. Evaluate comps. As a seller, if you get what you consider to be a low ball offer, use the offer as an opportunity to re-evaluate what we refer to as comps. Basically that means taking a look at other houses in your neighborhood which may compare with the house you are selling to try and make sure that your asking price is realistic.
5. Don’t be desperate. Sometimes, buyers take signs like an empty house as an indication of desperation. If your house is empty, you may want to consider staging, or leaving some furniture and clothes, so the house doesn’t look empty.
If you have reviewed the comps with your agent, and you are confident that your price is realistic, given the market, then you should make your best effort at negotiating the low offer, but if it isn’t realistic, be prepared to move on.
Continue Reading > Add a Comment |Bucks County’s Most Expensive Homes – 2011
Most people know that there are parts of Bucks County, where real estate is very expensive. In 2007, the most expensive Bucks County home sold for $5,850,000! In the same year, there were six homes that sold for more than $3 million, and another that sold for more than $4 million!
Fast forward to 2011. Drum roll, please…
In 2011, if you were prepared to spend in excess of two million dollars, you were looking at the most expensive homes in Bucks County!
9 Woodland Road, Newtown, Pa. 18940: $2,050,000
Listed by Linda Krick Danese of Kurfiss and sold by James Spaziano of Addison Wolfe, after 443 days on the market. This house was in Upper Makefield Township, off of Wrightstown Road. It included 10 acres and was totally renovated. It included a six bay garage, pool, tennis court and a one bedroom apartment above a detached garage.
6151 Greenhill Road, New Hope, Pa. 18938: $2,225,000
Listed by Robert Anderson of Lisa James Otto and sold by Fred Williamson, after 246 days on the market. This was a home on three acres, in the heart of Solebury Township. The house was over 10,000 sq. ft, and included five bedrooms and seven total bathrooms. It offered very unique and custom designer touches, as one would expect for a two plus million dollar home.
6175 Saw Mill Road, New Hope, Pa. 18938: $2,250,000
Listed by Cindy Stys of Cindy Stys Equestrian & Country Properties, and sold by a non-member agent and office, after 71 days on the market.
There are some gorgeous horse properties in Bucks County, and this was one of the county’s most significant equestrian estates. It was situated on almost 25 acres, and included a beautifully crafted 15-stall stable, along with another five-stall stable. This was a very unique and special horse property.
7049 Ely Road, Solebury, Pa. 18938: $2,550,000
Listed by Stephen Darlington of Prudential Fox & Roach, and sold by Llisa DePamphilis of Weichert, after 444 days on the market. This was a gorgeous, 120 year old home, on ten-plus acres. The house was elegantly upgraded, and also included four fireplaces, an indoor exercise pool, a gym along with a three bedroom carriage house and a horse barn.
Finally, the most expensive house sold in Bucks County in 2011:
6154 Stoney Hill Road, New Hope, Pa. 18938; $4,000,000
This was listed by Linda Krick Danese of Kurfiss, and sold by Tina Mazaheri of Mazaheri Realty, LLC, after 130 days on the market. It is a 46 plus acre county estate in every way. It offers incredible views, indoor pool pavillion, guest house, heated garages, incredible gardens. The main house has over 20 rooms. There was also a guest house with a two- bedroom apartment, office, and exercise room. Truly one of Bucks County’s finest residences!
So, that finishes the most expensive homes sold in Bucks County for 2011…I wonder what 2012 will bring?
Continue Reading > Add a Comment |Yardley Hunt Real Estate Update
I thought it would be helpful for those who are looking for real estate information in the Yardley and Newtown area in Bucks County to look at what is happening in specific neighborhoods.buy Prinivil For my first neighborhood of the week, I will focus on Yardley Hunt, in Lower Makefield Township.
Yardley Hunt is a wonderful Lower Makefield Township neighborhood
Yardley Hunt was built over several years, primarily by Toll Brothers, starting in 1977. There were about five basic floor plans, with the average house size being about 2650 square feet. Floor plans include ranch, split and colonial style homes. Lot sizes are generally just under 1/2 acre. Because of the age of the neighborhood, there are large, mature trees, which give the neighborhood some character. There are two banks of tennis courts that are actually owned by Lower Makefield Township, within Yardley Hunt. Yardley Hunt is in a great location, very close to 95 for commuting, and within walking distance of shopping, Yardley Boro, and Lower Makefield Township community facilities, including the Township pool complex.
Below, you will find all current homes for sale in Yardley Hunt. OR Click on this link, to register for automatic updates on homes in Yardley Hunt
Showing properties
1 - 2 of 2.
See more Yardley Hunt Homes .
(all data current as of
5/25/2013)
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$525,000 : 880 Patriot Dr, Yardley4 beds, 2 full, 1 part baths
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$449,900 : 902 Morgan Dr, Yardley4 beds, 2 full, 1 part baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Continue Reading > Add a Comment |First Time Home Buyer in Bucks County – Where Should I Start?
Hope that all of you who celebrated Christmas yesterday had a wonderful Christmas celebration with your family.
I know that today is a holiday for many, but the wonderful world of real estate never sleeps, so I had an appointment to show one of my listings to a buyer. Turns out, the buyer was a very nice, young, first time home buying couple. The listing they were seeing is a great house, very updated, and priced extremely competitively. Buyers have potential interest, but they had a question. Their question was: “We are new to the process, and don’t even know where to start.”
I really enjoy working with first time home buyers. I know that for most first time home buyers, the home buying process can be stressful, intimidating and confusing. I very much enjoy helping those buyers learn everything possible about both buying and owning a home. I welcome the chance to provide as much information as possible, so that by the time a first time buyer makes an offer, they are completely comfortable with the process and the decisions they make.
I think it is a great time to buy a home. There are lots of houses to choose from, and interest rates are incredibly low. It is a buyers’ market, which means that factors in the market clearly favor the buyer.
So, the buyers I met this morning asked, “Where do we start?” Great question.
I would suggest to a first time home buyer looking for a house in Yardley, Bucks County, or wherever they are looking to buy, that they find a reliable mortgage person, and learn as much as possible about the process of obtaining a mortgage. Any reliable mortgage person will be happy to speak with a prospective home buyer, so that the buyer can understand what type of mortgage they will qualify for, and what steps they will need to take to obtain that mortgage.
I also remind buyers that I work with that in some cases, you could be approved for a mortgage that represents a higher monthly payment than you are comfortable with. That’s okay. You should never take on a higher payment than what you are comfortable with, but at least you will have a clear understanding of where you stand.
By starting the home buying process with a lender, you will not fall into a trap of being disappointed with a house that you are not able to purchase. You will focus on a price range that is realistic for you. Just to be clear, there should be no cost and absolutely no obligation for the initial discussion with a particular lender. The mortgage person will ask a series of questions regarding your income, and debt and will get permission to run a credit report. I could do an entire post on credit scoring, but for purposes of this post, based on your income, assets, debts, etc., the lender will be able to tell you exactly how much of a loan you would qualify for, and what terms the loan would take. There may be several options, regarding the mortgage. From this initial conversation with a lender, you will know exactly what price range to focus on, in trying to find that most perfect first home.
Contact me at 215-519-1399 or Marty@MartinMillner.com if you would like mortgage contact recommendations.
Continue Reading > Add a Comment |Why Would You Buy Real Estate Low and Sell Real Estate High in Yardley?
Welcome to 2012! For many, there was no great heartache in saying goodbye to 2011. Here is an interesting perspective on real estate in Yardley, Newtown and Bucks County.
I think everyone would agree that the worst investing advice in the world would be to buy high, sell low! To me, that is the very definition of losing money on an investment. Not too smart, if you can help it, right?
So, my question for those considering buying real estate in Yardley, or Newtown, or anywhere in Bucks County, is why would you wait for the housing market to improve, before buying a house? Seriously, I understand that there is a lot of uncertainty out there right now. Job security is still questionable, unemployment is too high, and there is general fear about getting approved for a mortgage. it can be scary. But, here’s the thing. In my opinion, letting fear dictate your financial stragegy for the future is a guaranteed way to pay too much for a house in years to come.
Put fear aside for just a moment, and consider:
- Interest rates are at or close to all time historic lows.
- Prices for homes have plunged to the lowest levels we have seen in a generation.
- There are distressed property sales.
- Rents are rising, and in most cases, rental inventories are shrinking, which limits rental options
Shouldn’t you, rather than a landlord, be the one who benefits from owning a home? In my opinion, right now is the “buy low/sell high cycle! I love helping renters and first time home buyers explore their purchasing power. People are often surprised at just how qualified they are for home ownership.
If you are curious, simply email me at Marty@MartinMillner.com or call me at 215-519-1399, and I would be happy to discuss your home buying options with you.
Continue Reading > Add a Comment |Chat With Marty
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