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 |3 Quick Home Staging Tips
In selling a home, creating the proper atmosphere is just as important as pricing your home properly. Elegant furniture can enhance a room, or stifle buyers’ ability to envision themselves there if the placement is incorrect. Depending on presentation, beautiful flowers can appeal to a potential buyer or detract from the mood of the showing. Simple yet aesthetic additions can sometimes make all the difference.
When consulting with sellers, I help them determine what their home is worth in Yardley, Newtown or anywhere in Bucks County. I can assure that a more inviting home will result in a quicker sale and a better price. Here are three easy do-it-yourself ideas to quickly add some eye-catching appeal and dollar value to your home:
Proper furniture placement
There should be just enough furniture in each room to give the room a purpose. Remove all redundant furniture and move the large pieces away from the walls when possible. Make sure the furniture is the proper scale for the room (e.g remove a king size bed and replace it with a queen if it is too big for the bedroom.) Create appealing vignette groupings with furniture, plants, and artwork to create a mood and attract the buyer’s eye.
Use appropriate plants and beautiful pots
Add vibrantly colored flowers to a neutral-colored room to add some flair, and flowers with more subdued colors to a room that already has a bold color scheme. Use flowers and plants that match the décor of your home. Place plants or flowers in high quality containers near the outside entrance and in the foyer to welcome your buyers. Strategically placed greenery can guide the buyer’s eye as they navigate through your home. Plants can bring life to your home, but be sure to choose quality placement over quantity.
Add small tastes of home
Small details added to your simplified décor can stand out and give buyers the warm fuzzy feeling of home. Eye-catching bowls of shiny fruit on the dining room table, colorful cookbooks on the counter, a creative basket of bath salts and spa treatments in the bathroom all entice the buyer to make themselves at home. Try to focus on items that will universally affect the largest potential group of buyers. Sometimes the things that we think of as “homey” may not be for someone else.
Sometimes just a few small staging changes in your home can mean the difference between a quick sale and a long wait on the real estate market in Yardley, Newtown or Bucks County. Talk to your realtor or a staging expert to decide what changes might benefit your home. Depending on your budget, you can opt for some free or low-cost adjustments like the ideas above, or invest in the professional advice of a staging professional. Contact me for more information if you are interested in an evaluation of your property.
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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.
Continue Reading > Add a Comment |1 Buttonwood Drive, Washington Crossing
Continue Reading > Add a Comment |5 Things to consider when making an offer on a Yardley area house.
The real estate market in the Yardley area in Bucks County, is showing very encouraging signs of life this spring. I have had 7 or 8 Yardley area houses, in the past couple of weeks, that have gone on the market and sold in just days. In a couple of cases, we received more than one offer!
Yesterday, a prospective buyer, who found my profile on-line, sent me a very interesting questionaire. He was basically conducting an interview, to see if we would be compatible. I am happy to say, that I am meeting he and his wife on Saturday, so I passed the first step in the interview process.
One of the interesting questions he posed, though, was how I would help them with making an offer on a house, once we found the right house? That question got me thinking about the steps to take in preparing an offer on a Yardley area house. There is no doubt in my mind, that the more information you have, the better off you will be in making an appropriate offer.
There is so much information available online, and your realtor should provide a tremendous amount of additional information.
1. In evaluating a sellers asking price, the first thing that I look at, is how long the house has been on the market, and whether there has been price adjustments. Markets find their proper balance, and if a house has been on the market a long time, it generally means that the asking price is too high. I realize that sellers may dispute this, but in my opinion, if the asking price is correct, for market conditions, then the house will not sit on the market for weeks and weeks.
2. Evaluate activity in the neighborhood. This can sometimes be difficult, depending on how large the neighborhood is, assuming the house is in a neighborhood, and also whether there has been a lot of recent activity in the neighborhood. The strongest comparison, which we would refer to as a comparable, would be a similar house in exactly the same neighborhood. If there have been recent sales, you would have a very solid frame of reference for structuring an offer.
3. Next, I would suggest looking beyond the exact neighborhood, for houses that are similar to the one you are looking to make an offer on. If you can find houses that are close to the same size, with similar amenities and upgrades, again, you are armed with useful information for an offer. This is very similar to the process that an appraiser would go through. When looking for similar houses, it would be important to stay within the same township and school district. Yardley housing is different from Newtown, for example, so homes in Yardley and Newtown, would not be priced the same, even if they had similar amenities.
4. Pay close attention to condition of comparable homes. Remember, a low priced home that needs lots of upgrading, may not be such a great deal, if the cost to do the upgrades makes the price higher than homes in a similar neighborhood that have been upgraded. Other vital elements to consider include location within the neighborhood. If a particular house backs to a busy road, clearly there will be a significant impact in the price.
5. Finally, armed with all of the above information, plan your negotiating strategy. I help buyers all the time, with this process. Depending on how the house is priced, the art of drafting an offer, from the buyer perspective, is to be as aggressive as possible, without being insulting to the seller, assuming the house is priced realistically in the first place. If you start the process with an offer that is perceived to be unrealistically low, you run the risk of not getting a counter offer back from the seller. Obviously if the house is significantly overpriced, then I would not be too concerned about that.
I work very hard to make sure that buyers have as much information as possible, so that we can make realistic offers, that buyers are comfortable with. I would be happy to discuss this further, and can be reached at 215-519-1399 or Marty@MartinMillner.com
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