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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Buying a Home in Yardley or Newtown, Bucks County? 10 Important Questions for Your Home Inspector
Maybe because the weather has been so warm and snow-free, it seems as though the so-called “spring” real estate market in Yardley, Newtown and all over Bucks County has started early. I have written a few recent posts on changes in the Yardley, Newtown area real estate market.
When working with buyers, I always stress how important it is to have a thorough and complete home inspection. For any buyer of real estate in Bucks County, it is critically important to know that any offer you make on a house, can be made contingent on the results of a home inspection. Over the years, I have worked with many area home inspectors. I thought it would be interesting to review what I think are 10 great questions to ask your home inspector.
There are a number of highly qualified, experienced home inspectors in the Yardley, Newtown area, and there is nothing wrong with interviewing more than one. Here are the questions:
1. What does your inspection cover?
At the time of the inspection, most home inspectors will give you a document to sign, that explains, among other things, the limits to what they will be inspecting. The inspector should ensure that their inspection and report meets all applicable requirements for Pennsylvania. They should also ensure that the report will comply with the local standards of practice and code of ethics. If you have specific concerns about something in the house, or an area in the house that you are concerned about, make the inspector aware and be sure that those things are covered in the inspection.
2. How long have you been practicing in the home inspection professions and how many inspections have you done?
This should not be a problem for the inspector to answer. You should be able to review their history in the profession, and perhaps get referrals.
3. Are you specifically experienced in residential inspection?
If the inspection is for a commercial property, you should ask the same question. The inspector may have a construction or engineering back round. but there is no substitute for training and experience in the unique discipline of doing home inspections.
4. Do you offer repairs or improvements based on the inspection?
In some states, this is specifically outlawed. Years ago, in Bucks County, inspectors often did work on repairs, and I never liked that idea since there was an obvious conflict of interest. For the most part, this is no longer an issue with home inspectors in the Yardley and Newtown area.
5. How long with the inspection take?
I have found that the average inspection in our area takes between tw0 and three hours. For the purposes of budgeting your time, you should have a general understanding of how long the inspection should take.
6. How much will it cost?
Costs can vary from inspector to inspector, and it is one of the questions that you should ask, so that you are not surprised the day of the inspection. There are also some variables in terms of what inspections are needed, that will impact the cost. If you need a septic and/or water and well inspections, the cost will be somewhat higher than if those inspections are not needed. When I meet with buyers, I include an approximate cost for the home inspection in my closing cost estimate.
7. What type of inspection report do you provide and how long will it take to receive the report?
I think it is a good idea to ask for samples of the inspectors report, so that you are comfortable with the format, and that you can understand the report language and style. You also need to be sure that the time parameters meet your needs. In our Pennsylvania agreement of sale, there is a time limit to the inspection contingency. It is critically important that the report be available to you in enough time that you can evaluate it and respond to the seller appropriately.
8. Will I be able to attend the inspection?
I always encourage buyers to attend the home inspection, and I would be highly suspicious of any inspector who did not encourage that. I have never actually encountered a problem with an inspector suggesting that a buyer not attend the inspection, but you should ask the question, just to be sure. The inspector will share maintenance information, as well as explaining any defects, and attending the inspection gives you a great chance to learn about the house.
9. Do you maintain membership in a professional home inspector association?
There are actually tw0 national home inspection associations, and in Pennsylvania, the inspector needs to be a member of one of them in order for their report to be used as a basis to negotiate with the seller as a result of an inspection report. There should be no problem asking the inspector whether they are a member of one of the organizations.
10. Do you participate in continuing education?
I think this is a good measure of the inspectors professionalism and service. The more knowledge an inspector has, the better they should be in evaluating any unusual or unique condition in a house.
I hope that these suggestions are helpful if you are considering a home inspector for a house in Yardley, Newtown or anywhere in Bucks County. I would love to hear your thoughts. I can be reached at 215-519-1399, or Marty@MartinMillner.com. If you are considering buying a Yardley or Newtown home, please let me know if I can help you.
Continue Reading > Add a Comment |Three Amazing Design Sites for Yardley, Newtown, Bucks County Homes!
I spend a great deal of time going in and out of houses all over the Yardley and Newtown areas in Bucks County. I talk to a lot of sellers, as well as buyers. I’ve posted recently about how the market dynamics have changed in our market, over the past month or so. Buyers are complaining again that there is “nothing to see.”
I suspect that there are potential sellers who, because of where the Yardley and Newtown real estate market has been over the past few years, have decided to put off selling.
If you’re are thinking about renovating the interior of your home, or if you are moving and want to create your own new fantasy home, I thought it would be fun to put together a list of three great sites to help inspire your imagination. So, when you have time, check out these great websites.
Houzz.com (http://www.houzz.com)
Houzz is a leading destination site for home design enthusiasts, both professionals and homeowners. The Houzz site and mobile apps feature more than 250,000 high quality interior and exterior photos, along with literally thousands of highly engaging articles written by design experts. It also includes product recommendations and social tools to manage the remodeling and decorating process.
Freshome.com (http://www.freshome.com)
This site was launched in 2007, and is a weblog devoted to finding and sharing the latest and greatest products in architecture and design. The primary focus of this design publication is to provide inspiration to make your home more beautiful, organized and healthy. I believe that a calm, healthy, beautiful home creates a great foundation for happiness and success.
Getdecorating.com (http://www.getdecorating.com)
This site is devoted to inspirational home ideas that you can choose, save and email to a friend or supplier. Every picture has a story, whether you are thinking about renovating, remodeling, decorating a new house or an existing home, perhaps buying new furniture, window treatments, or maybe just a color change, this is the place for you.
So, bottom line, stop flipping through pages and pages of magazines for a couple of interesting photos, and check out these sites with literally tens of thousands of fantastic, colorful ideas to spark your imagination. From staging to renovation, these are great places to get started.
If you are thinking about selling your old home before pursuing a new design, I would be happy to help. Connect with me this week at 215-519-1399.
Continue Reading > Add a Comment |Bucks County Home Prices Stabilizing (or not?)
There was a really interesting article in the Wall Street Journal a couple of days ago, questioning whether home values are still falling. If you are curious about what is happening in the real estate market, check out this article at the following link, “Why Home Prices Are (and Aren’t) Stabilizing”
From a Bucks County perspective, why is this article so interesting?
There are always articles written that talk about how bad the real estate market is. I have written pretty extensively about the real estate market in and around Yardley and Newtown, and all over Bucks County. I have pointed out on numerous occasions, that our market is nowhere near as dire, as in other parts of the country, like Arizona, Florida, etc.
This Journal article is the first article that I have seen that makes a distinction between distressed sales, and non-distressed sales. I think this could be a critically important distinction, because, as the article points out, according to CoreLogic, an important emerging trend is that home prices are actually stabilizing after excluding distressed sales. If you are not familiar with the term, “distressed sale”, it essentially refers to bank owned properties, and/or short sales, etc.
It is clear, according to the statistics, that prices of non-distressed properties are actually stabilizing, even as the prices of distressed properties are still falling.
The reason this becomes so important to the real estate market in Bucks County, is because for Bucks County real estate, the percentage of distressed property sales, is very significantly lower than the national average. In fact, for all of Bucks County, the percentage of distressed property sales is about 13% or so, while the national percentage is 28 to 30%. I would actually suggest that in the Yardley, Newtown, Washington Crossing real estate market, that percentage is even lower.
In fact, many people are really surprised to learn that for the entire real estate market in Bucks County, following the height of the market, which was in 2007, prices fell by 6.7% in 2008, they dropped by 6.8% in 2009 and believe it or not, they actually went up by 4.3% in 2010. Those statistics are based on the change in the average sold price, each year.
So, if you live in or are interested in real estate in Bucks County, spread the word!
Continue Reading > Add a Comment |Home Affordability in Yardley, Newtown and Bucks County.
If you happen to be considering buying a home in the Yardley, Newtown area in Bucks County, based on the home affordability index, now may be a great time to buy.
Last quarter, with home prices still relatively low and mortgage rates making new, all-time lows almost weekly, the cost of home ownership was extraordinarily low in Pennsylvania and most U.S. markets.
According to the National Association of Home Builders’ quarterly Home Opportunity Index, 72.5 percent of all new and existing homes sold between June-September 2010 were affordable to families earning the national median income. This ties the all-time high for home affordability, set in the first quarter of 2009.
The data also underscores that, when compared to historical norms, it’s a fantastic time to be a Lower Makefield Township home buyer.
Prior to 2009, the Home Opportunity Index rarely topped 65. The index has remained above 70 ever since.
All real estate is local, though, and on a city-by-city basis, home affordability varied last quarter.
For example, 96% of homes sold in Kokomo, IN are affordable for families earning the area’s median income. This handily beat the average figure and led the nation. Looking at major cities, Indianapolis led the pack.
93% of homes in Indianapolis are affordable to families earning the area’s median income. This ranks #9 nationwide.
On the opposite end of the affordability scale is the New York-White Plains, NY-Wayne, NJ region. For the 10th consecutive quarter, the New York Metro region ranks last in U.S. home affordability. Just 23% of homes are affordable to families earning the local median income, although this is 3 points higher versus Q1 2010.
The rankings for all 225 metro areas are available online.
Regardless of where your hometown ranks relative to its neighbors, home affordability remains high as compared to historical values. That said, with mortgage rates rising it’s unlikely that the Home Opportunity Index will improve.
Buying a home may never be this inexpensive again. If you planned to buy in mid-2011, consider moving up your time frame.
Continue Reading > Add a Comment |September's Case-Shiller Index and Yardley, Newtown, Bucks County.
Standard & Poors released the September Case-Shiller Index Tuesday. The Case-Shiller Index is a home-value tracker. The report shows home prices down 0.7% from August and values fading, in general. As you can see from the above chart, Yardley and other areas, in Bucks County, do not appear anywhere on this chart. That’s the problem with using these national statistics, to try and predict or even understand where the real estate market is heading, in your back yard.
I am met with several prospective sellers both in Yardley and Newtown in Bucks County, over the past few days, and the question always is, first, should we put our house on the market during the holidays, and second, whats the market doing?
If you rely on broad, national statistics, like the Case-Shiller index, you will not understand what is going on locally.
Case-Shiller representatives assessed the findings as “another weak report; weaker than last month”, citing deterioration in 18 of 20 tracked markets. Upward pricing momentum from the summer is slowing and values remain 30% off the market’s June 2006 peak.
Depsite the somewhat depressing numbers nationally, prices in Bucks County, overall, have actually increased by 4.4% through October! Clearly, as I have reported on numerous occassions, it is a tough market for sellers. However, please keep in mind that homes in Yardley, Newtown and all over Bucks County, that are priced correctly and marketed properly, are selling. I will explain a bit about why the Case-Shiller index is imperfect and flawed.
The Case-Shiller Index is imperfect; its methodology flawed. The index is not meant for use by individual buyers or sellers — for 3 reasons.
First, the Case-Shiller Index reports on a 2-month delay. Today is December 1 and we’re discussing data from September. In the 8 weeks since, the economy has shifted to a net jobs gainer, and the Federal Reserve has committed to $600 billion in re-investment. These are major developments that weren’t a part of September’s housing market, but are relevant today.
Especially because employment is largely believed to be a keystone to housing.
Second, the Case-Shiller sample set is limited to just 20 cities nationwide. This means that most U.S. home sales are specifically not included in the Case-Shiller Index’s monthly findings.
And that ties into reason number three — all real estate is local. No matter what the Case-Shiller Index says about the country, what matters to your local market is what’s happening in your local market. Each neighborhood has its own housing economy and that’s something that can’t be captured by a national report.
If you want to understand what is happening in your neighborhood, email me and request a market snapshot of your neighborhood. I will email a report that will show you exactly what has sold in your specific neighborhood. It will include homes for sale, as well as what has sold, including days on the market, and discounts from asking price. Only by looking at very local information, can you truly understand what is happening with real estate in your back yard.
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