Don’t know where the year went.

For me, it was a productive and successful real estate year.  For that,  I am totally grateful and thankful for the buyers and sellers who trusted me to handle their real estate transactions, and I am also extremely thankful and appreciative of the colleagues, friends and clients who referred real estate business to me.  I work really hard at what I do, and feel truly blessed to have so many people allow me to be a part of their lives during the real estate process, and beyond.

My personal outlook for real estate in the Yardley and Newtown area, and for all of Bucks County, is cautiously optimistic.  I have written previously about the fact that we have a lot less distressed property sales in Yardley and Newtown,  and in most of Bucks County, than in many other parts of the country.  There is clear evidence right now that prices for non-distressed homes are holding very steady.

While I don’t envision a sudden shift in the market, I do think that we will see, in 2012, in Bucks County, a market that becomes more balanced than it has been.  I think that sellers who are realistic about pricing will not have difficulty selling in 2012.  I think that there will continue to be excellent value in the market for buyers of homes in Yardley and Newtown in 2012, but I also think that buyers need to be realistic about our market, as well.  What I mean by that is that I know that there are buyers who feel as though they can make virtually any offer they want, and often expect that sellers will take anything.  Remember, the average discount from original asking price in Bucks County is about 8%.

More sellers are becoming more realistic about the market, and I think that will continue in 2012.  If sellers price homes realistically, given the current market conditions, then it will take a much shorter period of time to sell, and it will reduce opportunities for low ball offers, as well.

I have been able to enjoy a bit of down time over the holidays, which I always appreciate.  I have gotten in some basketball, which I do all year long.  We have seen a number of movies, including, “The Girl With the Dragon Tattoo,”  “We Bought a Zoo,” and “Young Adult.”  I loved “The Girl With the Dragon Tattoo,” although I thought the books were better because they went deeper than is possible with a movie.  We also totally loved, “We Bought a Zoo.”

Also had a chance to get into New York to see a show and have dinner.  We saw Priscilla, Queen of the Desert, which was wonderful.  Amazing costumes, great acting and music.  I love being so close to both Philadelphia and New York.  It is one of the great aspects of living in Yardley.

Finally, I wanted to wish you all a very happy, healthy and prosperous new year!  Enjoy New Year’s Eve celebrations, but stay safe, and I will see you in 2012!

If you think wiping down counters and fluffing a few pillows in advance of the guest onslaught will land you on Santa’s “nice” list this holiday season, maybe you should check that to-do list twice. You

Scrub your entryway. Wipe down your front door, give the doormat a good shake, and make sure dust and dirt haven’t collected on floors and furniture legs. These are the first things guests will see when they arrive, so keeping them clean will guarantee a good first impression.

Focus on the kitchen. People tend to gather around the food during the holidays, so make sure your kitchen looks and smells nice. Don’t forget to dust the light fixtures and flush sink drains with boiling water.

Whatever you do, don’t neglect the loo. Don’t just wipe surfaces; break out the stiff-bristled brush and scouring powder to really scrub things clean.

Sniff out bad smells. If you clean your home and something still doesn’t smell quite right, brew some coffee. The aroma will cover it up.

Give your garbage disposal some love, considering how much it will “consume” this season. To cut down on odors, chop up a whole lemon — rind and all — and let the disposal gobble it up. Throw in ice cubes to sharpen the blades.

Make sure you can see the guests coming. Keep windows clean and streak-free on the cheap with an easy mixture of vinegar and water in a spray bottle. Wipe down windows with a reusable microfiber cloth.

With all your holiday cooking, stove tops and ovens are bound to get dirty. Baking soda and water make a simple scouring solution that can scrub off that baked-on gunk.

What are your tips for keeping your Yardley home guest-ready during the holiday season? Leave your comments below!

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.[issuu viewmode=presentation layout=http%3A%2F%2Fskin.issuu.com%2Fv%2Flight%2Flayout.xml showflipbtn=true documentid=100716154203-21c2dbbf18274151a0d0d7f568940ff8 docname=lmt_sold_units_-_avg_price_chart-1- username=sbgifford loadinginfotext=LMT_SOLD_UNITS_%26_AVG_PRICE_CHART(1) showhtmllink=true width=400 height=188 unit=px]

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.
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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.

Click here to view the embedded video.

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.

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.

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.

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.

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.