Marty Millner

Archive for the 'Buckingham' Category

A detailed look at the Real Estate market in Yardley, Newtown, and all of Bucks County

It’s time to take a detailed look at how the real estate market is performing, in Yardley, Newtown, and all other Bucks County areas, that I cover.
It is interesting to look at the Bucks County real estate update, and realize that we now have information for the first half of 2010.  

Some observations, Bucks County wide real estate, first.

• Through June, sold/closed units is positive, compared with last year, in 7 of 8 of our principal markets, as well as for all of Bucks County.
• County wide the increase was 22.9%
• Real estate prices were actually up by 5.2%, through the first half of the year, for the entire County.  Refer to the chart, to see how each municipality did.
• For all of Bucks County, the pricing momentum actually declined from May.  It went from a 6.8% increase in May to June’s 5.2%
• The best forward looking indicator we have, is pending sales.  Probably due to the expiring tax credit this June, pending sales for Bucks County, was down 32%, compared with June of last year.  Surprisingly, it was 4 % higher than at the end of May.
• Inventory of homes, is higher now, than it was at the end of May, County wide.  However, compared with June, last year, inventory levels are down, County wide.
• Bucks County wide, there remains a 10.5 month supply of homes on the market, which is better than it was last year, at the same time, but still indicating a strong, buyers market.
• Average days on the market, remains higher in most markets, than last year.
• Average list price of homes in inventory, at the end of June, for the County, was down just slightly from last year. (-0.8%)
• Discounts off of the asking price, are actually showing an improving trend.  Overall, buyers are achieving approximately a 7% discount from the opening list price of the current listing contract.

Each of the real estate markets that I cover, performs differently.  Lets look at real estate in Lower Makefield & Yardley, for now.  I will review Upper Makefield Township, Newtown, Northampton, and others, in furture posts.

Lower Makefield Township, Yardley real estate observations.

• Inventory of homes for sale in June 2010 was 238
• Inventory of homes for sale in May 2010 was 223
• Inventory of homes for sale in June, 2009 was 253.
• Average price of a home for sale in June 2010 was $514,000.
• Average price of a home for sale in June 2009 was $526,000.
• 163 Homes sold through June of 2010, at 93% of the asking price.
• 97 Homes sold through June of 2009, at 91% of the asking price.

There remains an 8.9 month supply of homes on the market, in Lower Makefield Township.  Since we consider a balanced market to exist, when there is about a 6 month supply of houses, conditions still favor buyers.

Average days on the market are now 79 compared with 70 last year at this time.  Competition remains a challenge to sellers.  Now, more than ever, it is critical to price homes correctly and market aggressively, if you are to sell.

As always, I welcome your thoughts and comments, and I will post additional details on other communities, in future posts.

Real estate statistics in Yardley, Newtown, Upper Makefield Township, Lower Makefield Township & Bucks County

I have not done this in a number of posts, but I wanted to take a very detailed look at market statistics, through the end of November, in some of the markets that I serve. 
 In virtually all of the markets in which I work in Bucks County, the pace of 2009 year to date units has continued to improve.  For example, in all of Bucks County, the number of single family homes this November, was 79% higher than November of 2008. 

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Real Estate property tax appeal update, Bucks County, Pa.

Over the past several months, I have posted a number of articles on real estate property tax appeals, in Yardley, Newtown, Upper Makefield, Lower Makefield, and all over Bucks County.

I have pointed out how easy the process is, and how most appeals actually succeed. 

There was another article in the Bucks County Courier Times, this morning, that addressed the outcome of the appeals, throughout the County this past year, and the overall effect on tax revenues.

As noted in the story, the overall value of property in Bucks County declined by approximately 40 million, according to the board of assessment report.  This is the first time in at least 35 years that the overall value declined. 

The municipalities that were coping with the largest reduction, are Upper Makefield, Northampton and Buckingham, among others.  There were more than 5100 appeals filed this past year, which was an all time record for appeals. 

According to the assessment board report, about 80% of the appeals were granted.  For those who appealed successfully, you will see the change in your 2010 real estate property tax bills, which will arrive in the spring.  As I have pointed out in my posts, it is a relatively easy process to file an appeal.  You merely download an appeal form from the county website, and submit it to the County Board of Assessment.   You will be given a hearing date, and you must appear at the hearing, with data supporting your position, that your property assessment should be lowered.

Appeals for 2011, will be accepeted from January 1, 2010 through August 1, 2010.

If you have any questions about the process or would like suggestions and/or help, please contact me.  See the chart below for the municipalities who lost the most, in the appeals process.

Peddler’s Village Apple Fest set for November 7-8

If you are looking for a great place to spend a fall afternoon, head up to Peddler’s Village , this weekend. 

November 7 & 8 will mark the 38th annual festival.  It will run from 10:00 to 6:00.  Admission and parking are free. Check out www.PeddlersVillage.com for details.

Local orchards will be on hand, for anyone looking to take home apples.  There will cooking demonstrations, as well as music, jugglers, and stilt walkers.

Peddler’s Village , if you are not familiar with it, is a group of about 40 unique stores and shops, and is always a fun destination.  It is located at Routes 202 & Street Road, in Lahaska.  It is about 25 minutes from Yardley.  Check out this video, for highlights of last years apple festival.

If you go, please let me know if you enjoy it.

Warrington, Pa., Bucks County – Winding Brook Farm Autumn Family Fun Activities – Through October 31st, 2009

Corn Maze

I feel like since the weather is about to get colder out, that I need to visit every outdoor event this fall.

Well, here is another great event being held by Winding Brook Farms in Warrington, Pa.  The “Amazing” Corn Maize, Hay Maze, Li’l Peepers Hayride, Pumpkin Patch, weekly entertainment, concerts and more.

CORN MAiZE: A 5 acre maze to test your skill! Come see our design this year, created by Brett Herbst, founder of The Maize, LLC. These guys are the leading corn maze design/consulting company in the world. Expect 30 minutes or more to complete the maize. A trivia question “passport” can help guide you through the maze, if answered correctly. In the event of defeat, they have “corn cops” to show you the way out. How fun!

HAY MAZE: A labyrinth of hay bales towering above your head. It will take a few minutes to wind your way through this puzzle. Kids will love to enter numerous times, at no additional charge.

LI´L PEEPERS HAYRIDE: This is an evening hayride with Family Friendly Halloween Scenes. The hayride lasts approximately 30 minutes and is suitable for all ages.

PUMPKIN PATCH: A walk-to-patch, free of charge, is available. Or take a hayride to the pumpkin patch where each person can pick their perfect

They have also launched a Haunted Hayride this year called “Night Chills” and have a combo ticket for that with their Corn Walk of Horror for $25. This is for the family members who prefers their Autumn entertainment of the “spine-chilling” variety. The Haunted Hayride runs through 10/30. The duration is approximately 30 minutes.

See their website for ticket prices and combination deals. Some events are free with purchase. Tickets are also available at the farm on event dates.

Call me if you have question or just come out and enjoy the fall weather.

Yardley, Newtown, Pa, Bucks County. Many Halloween Events around the Area– October 1, 2009 to November 1, 2009

Bucks County. Many Halloween Events around the Area– October 1, 2009 to November 1, 2009

It is that time of year again! Halloween Hayrides, some very scary, some not as scary, you can take your pick.

Shady Brook Farms has something for everyone. Come early in the day to take a hayride to the pumpkin patch and then stay around in the evening for the Shady Brook Farm’s “Horrorfest”.  Horrorfest has four thrilling attractions such as the Hayride of Horror, Barn of Horror, Alien Encounter and Deadtime Stories Corn Maze. You can check times and buy tickets online at Shady Brook Farms.

A great hayride for the family is at Active Acres.  Here you can ride to the pumpkin patch to pick your own pumpkins. Enjoy pony rides, the corn maze, farm animals and more.  It is open every Saturday and Sunday from 11am to 3:30pm through October 26^th.

We have all heard of and hopefully have toured the Eastern State Penitentiary.  The Halloween attraction, “Terror Behind the Walls” is back with the New Infirmary now open. Voted #1 Haunted House in America, don’t miss the chance to be inside the 11 acres abandoned prison. Visit the Easter State Penitentiary “Terror Behind the Walls” for more information.

Come out to the Grand Opening weekend of the Valley of Fear and The Original Haunted Hayride here in Feasterville, PA.  Or if you can’t make it this weekend, you have plenty of opportunities as they will be open every Thursday through Sunday from October 1 to October 25 and then daily from October 27^th to November 1^st. There are three main attractions for you to see. First is the Original Haunted Hayride. Second are the Miles Manor and One Eyes Willy.  Third is the Valley of Fear. Visit the Valley of Fear website and print off an opening weekend coupon for 3 attractions for the price of two. You can also purchase the Fear Pass or VIP Fear Pass only which will let you skip to the front of the line on all three attractions.

What a great way to spend time outside before the weather turns cold.  If you need more information, please call me.

Yardley, Newtown, Upper Makefield Township, Bucks County tax appeal update

Just  a very short post, for today, regarding an upate on the property tax appeal process for Bucks County.  I really appreciate the calls and emails, regarding the previous posts that I have done, about how to file an appeal of your proprety taxes.

I wanted to let everyone know, that the deadline for filing, is August 3rd.  The only thing that is required to meet the deadline, is to go to the tax assessor website, and download the form.  Complete the form, and indicate that information will follow.  You don’t have to have all the information together, at this time.  You just have to file the form on or before the 3rd.

You will then get a hearing date. 

Another important note, you must attend the hearing on the date scheduled.  As far as I know, they will not continue the hearing if you are not present. 

Another observation, after speaking with many people, is that perhaps the easiest way to get detailed information for the appeal, is to hire an appraiser.  An qualified appraiser will generate a very detailed report, that will substantiate a current value that will be lower than your current assessed value, assuming you have a valid case.  It generally costs about 400 for an appraisal.  Please contact me, if you need to find an appraiser.

Property tax appeals in Yardley, Newtown, Upper Makefield, Buckingham, Bucks County

I wrote a blog post a few weeks ago, about the process of filing a property tax appeal in Bucks County .  I know that the post struck home with a lot of people, as I received a lot of calls and emails from home owners in Bucks County, looking for some help with the process. 

I noticed that there was a really interesting article in the Wall Street Journal this morning, that talked about the same issue, from a national perspective. 

The article pointed out that tens of thousands of home owners, from all parts of the country are trying to get their property taxes reduced, as a result of the decline in real estate values.  In one county in Ohio alone, nearly 23,000 property owners applied for relief. 

The article suggested that it is possible to file the appeal yourself, or you can hire an attorney to handle the process for you.  As I mentioned in my previous post, attorneys who handle tax appeal cases, generally do so on a contingency basis.  They will take as their fee, a negotiated percentage of the first years savings. 

The Journal article mentioned a couple of on-line, automated property valuation models that home owners have used to assist with the process.  The sites mentioned were EasyTaxFix.com, and LowerMyAssessment.com.  I put my own address in Yardley, in both of the sites, and both said they did not have data for my area.

I think the most important advice that I can offer anyone looking to file a tax appeal, is to be absolutely sure that you are prepared.  You will need to find properties of comparable size, and value, whose assessment is lower than yours.  If you are filing the appeal on your own, it won’t hurt to take pictures, to support your case. 

There is a brochure available for 6.95, from the National Taxpayers Union, that explains how to file an appeal.  I have not seen the brochure, so I am not sure how valuable it is.

If you want more information about filing an appeal, or want some help in finding tax values or re-sale values, please feel free to contact me.

Bucks County, Yardley, Newtown Pa, tax appeals

As a follow up to my post yesterday, regarding the process of appealing property tax assessments, I saw that in the Bucks County Courier Times this morning, there was an interesting article about a large group of home owners in a specific neighborhood, who decided to appeal their property tax assessments. 

The neighborhood is called, “Bluestone Creek“, and it is in Warrington Township.  It is a newer developement, and many of the owners found, after moving in, that their tax assessments were based on values that were more than what they paid.  As I pointed out in my post, yesterday, property taxes are unfavorably skewed against newer construction. 

Home owners in this neighborhood, saved an average of 900.00 each, with their successful appeals. 

As I observed yesterday, in my post, this article points out that it is not a complicated process to appeal your property taxes in Bucks County, if  you feel that they are not fair, based on other homes of comparable value.