The Perfect Offer – Bucks County Real Estate 2013
Have you heard news of the real estate market in Bucks County changing to a “seller’s market”? You may notice home prices are rising again, and competition for homes has increased as well. Competing with another buyer can happen frequently, and sellers have an advantage when this happens.
When the real estate market transitions from a buyer’s to a seller’s market, it’s important to do everything you can as a buyer to improve your chances of having a seller accept your offer. Here are a few offer-writing tips to help solidify a contract on your new home in Yardley, Newtown or anywhere in Bucks County:
* Don’t waste time – When you find the home you want, submit an offer as quickly as possible. Don’t assume that no one else is considering your dream home as well.
* Realistic offer – this market may not be the proper one in which to make “lowball” offers. Be reasonable and submit comparable sales that justify your offer.
* Pre-approval letter – alleviate the seller’s biggest concern that an unqualified buyer will unnecessarily take their home off the market and the seller will miss other opportunities.
* More earnest money – money up front will show that you’re serious, and makes the seller feel more confident that the contract will actually close.
* Minimize contingencies – don’t give the seller too many reasons to think the sale won’t go through. Multiple contingencies lessens the seller’s willingness, because they feel the home is “off the market” with less certainty of closing.
* Shorten inspection period – your agent can help you set a reasonable date, but it helps if you let the seller know you’re willing to close prior to that if possible.
* Write a personal letter to the seller telling them why you want their home – this emotional connection to the seller can make the difference in you getting the home.
A confident seller is one who will be more likely to accept your offer. Following these tips can positively affect negotiations and help you present an offer that is most likely to be accepted. I am happy to assist you with the details of purchasing Bucks County real estate.
Continue Reading > Add a Comment |First weekend of 2013 in Bucks County
Hello, Bucks County friends! The holiday festivities may be over, but there it’s still a good time to relax with friends and family this weekend. Here are a few things happening in the area this weekend:
Sunday, January 6, 11:30 am
Crossing Vineyards and Winery
Washington Crossing, PA
A one-hour yoga class, followed by private wine tasting and tour. Bring your yoga mat and be ready for a relaxing good time.
Saturday, January 5, 12:00 – 10:00 pm
Sunday, January 6, 12:00 – 9:00 pm
Shady Brook Farm
931 Stony Hill Road, Yardley
It’s not too late to see the light show at Shady Brook Farm. Fill up your car and enjoy the lights. This is the last weekend!
Philadephia Flyers Alumni Game
Saturday, January 5, 5:00pm
Bucks County Ice Sports Center
1185 York Road, Warminster
Enjoy a great game with the Flyer alumni vs. Team Berube, and a $10 donation at the door benefits Kids vs. Cancer.
Feel free to contact me if you are looking for a great home this New Year season. There are a lot of great homes in Yardley, Newtown and all of Bucks County.
Continue Reading > Add a Comment |Happy Holidays – Enjoying Bucks County, PA
Last minute shopping in Yardley, Newtown or anywhere in Bucks County? Looking to show visitors some holiday traditions that are unique to Bucks County? Are you looking to buy local this year for your holiday shopping? Here are 3 great ways to shop, recreate and support the local economy.
Sunday, December 22 and 23, 10am – 2pm
Doylestown Rock Gym
Need more time to prepare for the holidays? Instead of dragging the kids from store to store, or trying to hide things in your shopping cart that they can’t see, or chasing them around the store as they show you all the things they want to buy, simply bring them to the Doylestown Rock Gym. This way you can enjoy your time and they can enjoy theirs. At our drop and shop program, the kids will climb, have lunch and make a cool climbing holiday craft. Ages 5 – 12yo. Call 215-230-9085 or visit the website.
Through January 6, 2013 dusk to 10 pm
Shadybrook Farm
931 Stony Hill Road, Yardley
I’ve mentioned it before, but the Shadybrook Light Show is worth mentioning again! This is a spectacular night time extravaganza of lights, and it gets better every year! Bring a full carload, as they charge by the vehicle!
Wrightstown Farmers’ Winter Mini-Market
Saturday, December 2, 2012 10-11am
Wrightstown Township building, 2203 Second Street Pike
Quick, 1 hour mini market! Get in, get out and get on with the rest of your day! There will be pastured pork and lamb, grass-fed beef and eggs, fresh fair trade organically roasted coffee, honey, mushrooms, prepared foods, baked goods, nuts, applesauce, cider, goat cheese and natural pet foods. Also buy great gifts, like fragrant soaps, lotions, fruit butters and other jarred treats.
I wish you a great holiday season! Feel free to contact me if I can be of assistance to you in any of your real estate needs.
Continue Reading > Add a Comment |Enjoy a Break from Holiday Busyness – Bucks County Events December 15-16, 2012
The holiday preparations are sure to be in full swing at your home! If shopping, baking and cleaning are filling up your Saturday, be sure to relax and enjoy a few fun events for Bucks County residents. These New Hope, Yardley and Newtown events are just a few of the great opportunities this weekend.
If you are visiting friends or family in any of the beautiful Bucks County neighborhoods, and thinking about moving to the area, feel free to contact me to help you find your dream home here.
Fridays, Saturdays & Sundays in December, 5:15pm
New Hope & Ivyland Railroad
It’s time for kids and kids at heart to enjoy the timeless ride on the North Pole Express. Board the vintage coach cars to spend time with Santa and enjoy carolers, hot chocolate and cookies. This is a great memory maker for families of all ages.
Hurricane Sandy Bazaar, Auction & Sale
Sunday December 16, 2012 11am – 5pm
New Hope Borough Community Center
Support the victims of Hurricane Sandy this weekend. Trash and Treasure, auction, bake sales, entertainment and free kid fun. Contact Victoria Zelin for more information.
Bucks County Choral Society – Annual Festival of Christmas Music
Saturday Dec 15, 2012 8pm & Sunday Dec 16, 2012 4pm
Our Lady of Guadalupe Church5175 Cold Spring Creamery Rd, Doylestown
Enjoy spectacular holiday music from many genres, past and present, sing alongs and traditional carols. 100 powerful voices will come together to provide a great show. Brass ensemble preludes begin ½ hour before the show.
Saturday Dec 15, 2012 8pm & Sunday Dec 16, 2012 3pm
The Newtown Theater, 120 North State Street
Support local children’s theatre and enjoy the musical adaptation of Charles Dickens’ classic tale of an orphan boy who runs away and joins a clan of street pickpockets. Fun for the entire family.
Continue Reading > Add a Comment |Let Your Tenants Finance Your Child’s College
There are many owners of Bucks County real estate who are concerned right now about how to afford one of the larger price tags of parenthood: funding your child’s college education. As homeowners, we have a lot of things to save for and invest in, but not always enough discretionary income after the family essentials have been met. In almost any economy, wise real estate investors have an interesting option…
With a relatively small investment in a rental home, you can create rental income that generates positive cash flows and pay for itself. The borrowed funds create leverage that will earn a return on the total value of the home and not just the amount of cash you have invested.
The strategy is simple. Find a slightly below average priced home that will rent well. Find one in a popular school district, or near other desirable community amenities. It will appeal to a larger group of people while it’s rented and when it’s ready to be sold.
Rent the home and maintain its condition over the years. As the loan amortizes and the value increases, the equity will grow. When your student is ready to start college, you’ll actually have several options.
1. You can sell the property; pay the tax on the gain at a reduced capital gains rate and fund the education.
2. Alternatively, you can refinance the home and take the proceeds to pay for the tuition. This would allow you to continue to own the asset but would free your equity, and under current tax laws is a non-taxable event.
Regardless of whether you’re trying to plan for your children’s education or your own retirement, rental property offers many solid investment opportunities. Contact me if you want more information about purchasing investment property in Yardley, Newtown or anywhere in Bucks County.
Continue Reading > Add a Comment |Holiday Spirit in Bucks County – Weekend Events for December 8-9, 2012
I hope that all residents of Yardley, Newtown and all of Bucks County have had a productive week, and you are looking forward to a restful weekend. Of course, the December holiday events and activities are ramping up in the area. I am happy to keep you posted on a few worth checking out:
David Leonhardt Jazz Group – A Winter Jazz Holiday Concert
Saturday, December 8, 2012 7:30pm
Yardley Community Centre
Enjoy some festive mainstream and modern jazz by the David Leonhardt Jazz Group, an acoustic powerhouse. Get in the holiday spirit!
Saturday, December 8, 2012 9:00am & 11:00am
Temperance House, Newtown
Spend some time with friends, family and the jolly old elf himself! Sponsored by the Newtown Business Association. There are 2 seating times available. You can get your tickets by calling Temperance House at 215-860-9975.
Holiday Festivities in New Hope
Various Times
Ferry Street, New Hope
Celebrate the season with the residents of New Hope. Enjoy the nightly Christmas tree light show, with 15,000 LED lights on their Christmas tree dancing to holiday music. Shows run nightly at 5:00, 7:00 and 9:00pm.
On Saturday and Sunday afternoons, you can catch carolers and dancers outside the Logan Inn on Ferry Street.
Also, this Saturday, December 8 at noon, there will be the Monroe Crossing re-enactment and parade.
December in Bucks County – Weekend Events for December 1-2, 2012
It’s going to be another great weekend in Yardley, Newtown and all of Bucks County! I hope you have a great start to your December. Here are a few local events worth checking out:
You’re a Good Man, Charlie Brown
Saturday, December 1, 2012 8:00pm
Sunday, December 2, 2012 3:00pm
Newtown Theatre
This classic musical comedy based on Charles Shultz’ “Peanuts” comic strip is presented by the Newtown Arts Company. Join the Peanuts gang for some childhood fun. Purchase tickets at brownpapertickets.com or call 215-860-7058.
Saturday, December 1, 2012 3:30pm
Starts at American Legion on S. Main Street
Don’t forget to enjoy the festivities in Yardley at the annual parade. Floats, marching band music, Revolutionary soldier and Santa!
Various Activities
1853 Wrightstown Road
Washington Crossing
It’s your choice this weekend at Crossing Vineyards and Winery – Have wine with cheese, wine in crystal or wine with yoga! It sounds like a fun time in any case!
Have an upscale wine tasting in your own Riedel crystal glasses, which you can buy at a discount at the tasting this Saturday December 1 at 2:00pm
Bring your yoga mat for the Wine Tasting and Yoga class on Sunday December 2 at 11:30am. 1 hour of yoga, followed by a private tasting an tour.
If exercise is not in your plans for Sunday, you can choose to attend the Wine & Cheese pairing at 1:00pm.
Saturday & Sunday, December 1 and 2 10:00 am – 4:00 pm
Homewood Suites
110 Pheasant Run, Newtown
Get Christmas shopping done, support local vendors, and know you are benefitting two good causes: Flying Kites and Susan G. Komen for the Cure.
Continue Reading > Add a Comment |
Mortgage Insurance Premium – Who Needs MIP in Bucks County?
First-time homebuyers in Yardley, Newtown and Bucks County can wonder why they may be required to pay an extra fee each month on top of their regular mortgage payment. Before you make a choice on a mortgage loan, make sure you understand the mortgage insurance premium, and how you can reduce it and put the money toward building up your equity.
Here’s a tip for potential FHA buyers of Bucks County real estate: Paying extra principal on your mortgage loan can help you remove the required monthly mortgage interest premium (MIP) faster, which will lower your monthly loan payment, reduce your overall interest, and build equity faster on your home.
FHA loans require mortgage insurance premium to cover a possible loss to the lender if the property has to be foreclosed and sold. The premium is sizeable and does nothing to help build equity in your home. Eliminating the MIP would reduce the payment considerably, and help you keep more cash in your pocket.
FHA loans require that MIP remain in effect for five years. But after that time, the MIP requirement will be released if you have paid down your loan to at least 78% of the original purchase price. With that extra payment removed, your monthly payment will go down. Since amortization is affected by interest rates, the normal time to reach this 78% point could be from 9 to 12 years at today’s interest rates.
Contact your mortgage professional for more information about your particular situation.
Continue Reading > Add a Comment |Paying Down Your Rate with Points – Tax Implications
If you are in process of procuring a mortgage to purchase a home in Yardley or Newtown, or any home for sale in Bucks County, it’s important to understand the tax implications of “buying down” your interest rate with pre-paid points.
Pre-paid interest, sometimes called “points”, can be tax deductible when a person pays them in connection with buying, building or improving their principal residence. Be aware however, that when you pay points on a refinance, they are not a current deduction, but have to be pro-rated over the life of the mortgage.
For example, if you pay $3,000 up front in points when refinancing a 30 year mortgage, you can deduct $100 per year. If you sell the home and pay off the mortgage, or you refinance again, the balance of any un-deducted points may be then deducted in that tax year.
You must inform your tax professional of any of these situations so that he can accurately reflect the deduction in your return. The most common situation today is where homeowners are refinancing their home for the second, third or even fourth time. If there are points that have not been completely deducted from these refinances, they need to be handled during the year of refinancing.
For more information, see the “points” topic in IRS Publication 936; there is a section on refinancing in this publication. Contact your tax professional for advice considering your specific mortgage situation.
If you already have yourself pre-approved for a mortgage and our looking to purchase a Bucks County home before the end of the year, then contact me to see some great homes!
Continue Reading > Add a Comment |Enjoy the Warm Weekend – Bucks County Events for November 10 – 11, 2012
Hello to my friends in Yardley, Newtown and all of Bucks County! It looks to be a wonderful fall weekend, and we certainly could use one after a challenging few weeks of weather. No snow, no high winds and no flooding are in the forecast, so grab your family and friends and enjoy! Have a great Veteran’s Day weekend, remembering those who have served to protect our great country!
Through Saturday, November 10, 2012 at dusk
Rivermawr Green, Historic Yardley
Canal-O-Ween was postponed due to Hurricane Sandy, so you can still enjoy it through this Saturday. Take the stroll, enjoy the weather and see the talent of the local Yardley residents.
Sunday November 11, 2012 2:00pm
Newtown Library Company
The Newtown Library Company will be holding a Veteran’s Day event. First Sergeant Larry Kerwood will be the guest speaker. Bring an old cell phone to donate to soldiers. RSVP to reserve your spot! (215) 968- 7659
Saturday November 10, 2012 9:00am – 1:00pm
Wrightstown Twp. Municipal Bldg
Enjoy the nice weather this weekend and support local Bucks County producers.
Bucks County Country Gentlemen Barbershop Chorus
Saturday November 10, 2012 1:30pm and 7:30pm
Lenape Middle School, Doylestown
Great music and great fun for the entire family! Enjoy “Guys and Gals in Harmony”, featuring the Jersey Sound Chorus. Tickets are $18 at the door.
Continue Reading > Add a Comment |Chat With Marty