Spring real estate market tips for sellers, in Yardley, Bucks County, Pa.
Here is a video that I created in spring of 2011. The tips are still very relevant today to home sellers in Yardley, Newtown and all of Bucks County, PA. Click to watch the video, or here is a quick synopsis:
Three Important Tips to Get your House Sold Quickly
Move-In Ready
Buyers are looking for homes that are ready to move into, with little or no updating or repairs needed. Make some easy and relatively inexpensive updates like paint and carpets to “neutralize” the color scheme of your home. Focus on the kitchen, family room and master bedroom. Also take some time to add a little curb appeal to your exterior to create a great first impression.
Beautiful Photos
Because so many buyers are starting their home searches online, it is very important to have great pictures that will show off the best aspects of your home.
Price
With the competition on the market today, be sure to price your house correctly. It can make the difference between a house selling in a few weeks, or lagging on the market for months and months.
I have a useful booklet titled “450 Ideas to Get Your Home Sold Quickly”. Please contact me at marty@martinmillner.com if you would like to receive this great step-by-step guide.
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Yardley and Bucks County, PA – Our History
Most people who live in Bucks County, PA know and appreciate the rich history of the area. Named by William Penn after his hometown in England, Bucks County became known for its importance during the Revolutionary War.
For those who are new to the area, or are thinking of moving to Yardley, Newtown or any of our wonderful Bucks County towns, there are many opportunities to immerse yourself in our local history.
Here are just a few:
The Old Library in Yardley
Opened in 1878 on land donated by William Yardley’s heirs, the Yardleyville Library is situated on Lake Afton in the town of Yardley. It was used as a library for the community until 1977, and can now be rented out for events. Visit the website of the Yardley Historical Association for more information on the library and other fun Yardley history-related happenings.
Historic Fallsington
The village of Fallsington grew up around the first Falls Friends Meetinghouse built in 1692 it became significant as a social, market and religious center. This 300 year old village is now a Nationally Registered Historic District, and preserved by Historic Fallsington, Inc. Step back in time and enjoy the restored homes and visit the museum. Visit the Historic Fallsington website for more information on hours and pricing.
Washington Crossing Historic Park
The site where, on Christmas Night, 1776, George Washington and the Continental Army crossed the icy Delaware River. The park also features the 19th-century village of Taylorsville, Thompson Neely House and gristmill, Bowmans Hill Tower, and picnic areas. Visit the park’s website for more information.
Pearl S. Buck House & Historic Site
Pearl Buck spent most of her life in China, and is famous for her book on Chinese peasant life, The Good Earth. Pearl lived in Perkasie, PA with her second husband from approximately 1935 – 1960. Enjoy a guided tour of the Nobel and Pulitzer Prize-winning author’s circa 1825 farmhouse and intact collection on a picturesque 68-acre estate. A National Historic Landmark with gift shop, cultural center, beautiful gardens and seasonal special exhibits featured. Find out more info at the Pearl S. Buck International website.
Contact me for more information on living in this wonderful area of Bucks County, PA.
Continue Reading > Add a Comment |Mortgage Interest Deduction – Will Homeowners Still Benefit?
Homeownership is supposed to be the American Dream, and the government has long supported offering tax advantages to homeowners. The question is: Will this tax benefit continue? With the government looking for more revenue, and mortgage interest being one of the highest dollar tax deductions, a change to the laws may be in our future.
As it Stands
Currently, homeowners are able to deduct interest on loans up to $1.1 million for first and second homes. The opinion is that this deduction is no longer necessary, and benefits mostly the wealthy, who are more likely to have multiple homes and large dollar mortgage loans.
Recent Proposals
In 2009, there were talks about allowing deductions for first homes only, and only for loans up to $500,000. In 2011, other ideas included eliminating the deduction all together and replacing it with a straight tax credit. Still more talks revolved around a mortgage interest deduction based as a percentage of adjusted gross income. President Obama’s 2013 federal budget proposes limiting the tax deduction for families with incomes over $250,000.
What it Means to You as a Bucks County Homeowner
During this election year, we can probably not expect to see too many strong opinions about changing or limiting the mortgage interest deduction. Most voters are homeowners, and politicians don’t want to ruffle feathers at this time. However, this issue will certainly be revisited as long as there is a continuing need for increased federal revenue. The effect on home values is yet to be determined.
I’ll continue to keep you updated on issues that affect you as a home buyer or home seller in Yardley, Newtown or anywhere in Bucks County, PA. Please contact me for more information about Bucks County real estate.
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Bucks County Happenings: Special Mother’s Day Events
Are you looking for a way to honor a special mother this weekend? Three Bucks County wineries are offering events where you can wine, dine and pamper your favorite mom for Mother’s Day:
Wine Tasting for Moms – Crossing Vineyards in Upper Makefield Township
Sat, May 12, 12:00pm – 1:30pm
Treat your favorite Mom to a delicious afternoon of food, wine and fun. Includes a five-course gourmet food & wine pairing. Cost: $55 per person plus tax and gratuity. Reservation necessary. Call 215-493-6500, ext. 19 or buy on-line at http://www.crossingvineyards.com
Real Diamond Mother’s Day Concert – New Hope Winery in New Hope
Saturday, May 12, 8:00pm
Concert by the Real Diamond tribute band. Real Diamond is a professional band dedicated to the faithful re-creation of the live Neil Diamond experience. Menu available for purchase: Ham Strata, Mixed Greens Salad, and Sangria. Visit New Hope Winery for more information and to purchase tickets.
Mother’s Day Brunch – Sand Castle Winery in Erwinna
Sunday May, 13, 2012, 11:00am – 3:00pm
Treat your mom for a fabulous brunch catered by Crystal Rose Catering at Sand Castle Winery. Ticket includes first course buffet, tableside service for entrée, dessert, and a glass of your favorite Sand Castle wine. Tickets must be purchased in advance. Adults: $35.00, Children: $17.50. Visit Sand Castle Winery for menu and to order tickets.
Bucks County is a great place to live! Contact me to learn more about the area, and buying or selling Bucks County real estate.
Continue Reading > Add a Comment |New Listing – Walk to the Makefield Township Golf Club
Golf Lovers in Lower Makefield Township:
Introducing….
This is a beautifully appointed home on a large one acre lot with golf course views!
This 4 bedroom, 3 bath, 4364 Sq Ft home in Lower Makefield Township has many upgrades and features, including custom wainscoting in the formal living room, airy den that could be used for office or playroom, two-story great room with extravagant riverstone hearth, bright kitchen with granit counters, stainless steel appliances and a freestanding island with barstool seating.
Upstairs, the spacious master suite offers a separate sitting room, jetted tub, separate shower and double vanity with makeup area. All other bedrooms are on the second floor, and are spacious and bright.
The professionally finished basement is well lit and offers a separate office, ample storage space and endless space that can be used as a play or game room.
This home won’t last long with its great location, features and price of $688,000. Contact me to see this home, or any other great homes for sale in Yardley, Newtown or other areas of Bucks County.
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Lowest Interest Rates in History – What it Means to Bucks County, PA
Interest Rate News
Freddie Mac announced on May 3, 2012 that the 30-year fixed-rate mortgage interest rate is at an all time record low. Lowest-ever rates and still-recovering property values are creating an interesting real estate market for both buyers and sellers.
According to Frank Nothaft, vice president and chief economist at Freddie Mac, “Signs of slowing economic growth and inflation remaining subdued allowed yields on Treasury bonds to ease somewhat and brought most mortgage rates to new all-time record lows this week.”
The national 30-year fixed rate averaged 3.84%, down from 3.88% last week. 15-year rates averaged 3.07%, down from 3.12% last week. Freddie Mac has been keeping records of interest rates since its inception in 1970. See Freddie Mac’s site for more interest rate history.
What it Means to Bucks County
As I have been observing for the past few months, the real estate market in Yardley & Newtown and all over Bucks County has experienced the most active spring market, especially for sellers, in years.
Correctly priced houses are selling much quicker than they have in the past few years, and we have even seen a few multiple offer situations.
Everyone knows that interest rates have been incredibly low, for some time. The recent announcement by Freddie Mac, confirms exactly how low, historically, interest rates are.
I believe that one of the factors that may be helping the increase in activity this spring, is that buyers are slowing coming to the realization that interest rates will not stay at this level forever. I think that we are seeing a bit of an increase in buyer motivation, because many buyers do not want to miss this incredibly opportunity to take advantage of lower home values, along with incredibly low interest rates.
I also believe that many sellers are afraid of the market, because of all of the negative publicity, so sellers who can avoid selling in the current market environment are not putting their houses on the market. So in many cases we see lower inventory, along with increased demand.
This is not to suggest that we are back to the double digit, crazy days of real estate. I am suggesting that the dynamics in the Yardley, Newtown and Bucks County real estate market are much more balanced today than they have been in years.
Continue Reading > Add a Comment |Yardley, PA real estate market update
So what is happening in real estate in Bucks County, and Yardley?
First quarter real estate market results are in, so lets take a look at what is happening.
First, looking at Bucks County real estate, what is really striking, is that the number of houses for sale, was more than 7% lower at the end of March this year, than last year at the same time.
I have blogged a couple of times recently, about the changing dynamics in the market. It seems as though more houses are selling faster than they were last year, and based on the decrease in inventory levels, that makes sense.
The other extremely striking statistic, in the Bucks County real estate market, is in pending sales. Pending sales represent homes where the seller has accepted an offer, but the house is waiting for closing. Pending sales in Bucks County were up by an incredible 26% at the end of March, compared with last year.
I am not quite sure what to make of that number, yet. I sense that buyers are more motivated, and more buyers are coming to the realization that 4% interest rates will not be around forever.
Check the chart, for Bucks County real estate details.
Bucks County real estate market in a shapshot
Yardley Real Estate
In the Yardley, Lower Makefield Township real estate market, the number of homes on the market is actually about 2% higher at the end of March than it was last year at the same time.
Inventory was up by almost 12% from the end of February, which is to be expected, as we entered the spring market.
I think that there are still an abundance of houses in Yardley that have been on the market for a long time, because they are overpriced, given current market conditions. Even though inventory levels are higher, there is definitely more activity in the real estate market right now.
It is also interesting to note that the average price of a house on the market in Lower Makefield Township was $476,000 thie year, compared with $481,000 last year.
In addition to that, it may surprise people to know that the average price of a home sold in 2011, increased slightly in 2011, and is up by 5% this year, so far.
In Lower Makefield Township, there still is about an 8 month inventory supply, which indicates that factors are still favorable for buyers. We consider the real estate market to be balanced, when there is about a 6 month supply of homes on the market.
Yardley real estate appreciation chart
In summary, the real estate market in Bucks County, and especially in the Yardley-Newtown areas, is showing the most encouraging signs that I have seen in about 4 years. There are still homes that have been on the market for months and months, because they are overpriced. However, homes that come on the market that are priced realistically, based on current market conditions, are selling much fast than they have at any point in the past 4 years. If you are getting ready to put your house on the market, please ask me for a copy of my ebook, 450 ideas to help get your home sold quickly. Send me your email, and I will email it to you. My email is: Marty@MartinMillner.com.
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Continue Reading > Add a Comment |3 Quick Home Improvement Ideas for Spring
The warmer weather and longer days of spring may have you thinking about adding some new life to your home. Here are three easy home improvement ideas that can give your home and your spirits a quick lift.
Spruce up your kitchen: You spend a good part of your life in the kitchen, and after a year of use, it may be crying for a quick and easy makeover. Although a complete kitchen renovation can cost you big dollars, there are a few inexpensive ways to give yours a lift.
Start with the cabinets. A year’s worth of dust, grease and oils from handling can dull your kitchen cabinets bring down the overall look of the room. Use a cleaner with orange oil to break down the grime and let your cabinets shine again. Be sure to test the cleaner in an inconspicuous place first to be sure that it will not harm the wood finish. If you want to change your cabinets without the big investment, try adding some molding to your flat panel cabinet doors to give them some depth. You can match the finish to your cabinets, or go bold with an accent color.
Add a new backsplash. If you are looking for a different fun project, buy some ceramic tiles, grout, a trowel and a tile cutter and brighten your kitchen with a new backsplash. Whether you are a seasoned DIY-er, or a beginner, there are many resources online that can help you with this venture. Check out Lowe’s home improvement’s article for a detailed step-by-step instruction.
Get the garden ready: Landscaping projects easily add aesthetic value to your home, and can add dollar value to your selling price if your house is on the market. Your garden may have been hiding under mulch this winter. Now is the time to bring it back to life and get it ready to shine this summer. Remove the remains of winter from your flowerbeds, trim back plants, remove old mulch and let the warmth get to the soil. Adding some inexpensive bedding plants will add some new life to your exterior without breaking your wallet.
Secure your dryer from fires: Ok, this is not so much a beautification project, as a safety project to protect your home investment and your family’s lives. The main cause of dryer fires is not a wiring problem, but an over accumulation of lint that combusts. A few preventative measures this spring can make all of the difference.
Always clean the lint screen in your dryer after every use. Vacuum behind your dryer on a regular basis to remove excess lint. And at least once per year, use a dryer hose lint brush, like the Brushtech B68C 10-Feet Long Dryer Vent Duct Cleaning Brush, to completely empty your connector hose. Also, it is best to use an aluminum hose instead of a plastic one, as plastic heats up easily and can catch fire.
I hope that these three quick ideas can help you bring new life to your home this spring without the time or money of a major improvement. Contact me if you are interested in more ways to enhance your real estate and get it ready to sell.
Continue Reading > Add a Comment |Selling real estate in Yardley or Newtown; listing photo disaster?
When you’re thinking about hiring an agent to help you market and sell your home, it’s probably a good idea to ask to see listing photos of homes they’ve represented in the past. A true real estate professional will go the extra mile to make sure there are plenty of high-quality, detailed photos to help market your home online. This is true when doing video, as well. That is why I hire a professional photographer & videographer to ensure that my listings images are as good as they can possibly be.
At the minimum, the photos should be well-lit, the homes should be tastefully presented, and the photographs should appear to be taken by a professional. Less than that, and you might want to consider looking for a new agent. I have seen some pretty funny house photos, and the price of the house often does not matter. There are, of course, major red flags you’ll want to look for in sample listing photos.
Consider some of the following:
- No owners sunbathing in the pool in Speedos.
- No attic rooms cluttered with personal massagers and ashes/dust.
- No master bedrooms with lingerie models lounging in a red velvet four-poster bed.
- No bathroom shots in which the photographer appears in her bra in the mirror.
- No pics featuring the owners engaged in questionable activities in the background.
- No creepy dolls by the fire place.
- Seriously, no creepy dolls anywhere, not even in the living room!
- No stains of murdered bodies on the bare floors.
Now, it may sound like I’m joking, but I’m being 100% honest when I say these are flaws seen in actual listing photos represented by real agents. What’s more, I can prove it.
See every single one of the above listing photo disasters in this slide show:
Incredible, isn’t it?
Please, whatever you do, be sure to hire an agent who takes their listing photos seriously. After all, you home is your largest investment! I’d be glad to treat it with the respect it deserves. Let me help you market your home the right way: Marty@MartinMillner.com 215-519-1399