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.

Golf Lovers in Lower Makefield Township:

Introducing….

1494 Merrick Rd, Yardley, PA

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.

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.

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

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

That is definitely not the case this year, in Yardley, here in beautiful Bucks County. After an incredibly warm winter,

we have experienced a very early spring. Here are a few early spring photo’s from the area I love so much,

Yardley, Pa in Bucks County

Yardley pond in early spring

Another one of my favorite spots in the Yardley and Lower Makefield area, is the canal towpath.

Colors are coming alive, along the canal towpath in spring

Lower Makefield Township. with tress in full bloom, is beautiful. Here is a picture of the gorgeous,flowering trees, along Edgewood Road, at the Library and municipal complex.

Lower Makefield Township is gorgeous.

Canal Street, in Yardley Boro. Narrow street, very charming.

Canal Street in Yardley Boro.

One of my favorite, local restaurants, the Continental Tavern, undergoing some exterior work. Hopefully getting ready for outdoor dining! We love the Continental.

Continental Tavern in Yardley

Buttonwood Park, in Yardley Boro. Getting nice enough to relax in the park.

Buttonwood Park in Yardley

Couple of additional pictures of the pond.

Yardley pond

Old Library in Yardley

Contrary to what the press would have us all believe, people actually bought and sold houses in 2011! NAR interviews literally thousands of home buyers and sellers every year, and generates a very comprehensive review of the prior year in real estate.  What did we see in 2011?

Buyers

• 37% of recent home buyers were first time home buyers.  This represented a drop from 50% in 2010.  No doubt the high number of first time home buyers in 2010 was a result of the first time home buyer tax credit.  To me, even 37% is a very high percentage.  I know that personally, I worked with a number of first time home buyers in Yardley and Newtown  in 2011.

• The typical buyer was 45 years old, which was a jump from 39 years old, in 2010

• The 2010 median household income of buyers was $80,900.   Median income was $62,400 for first time home buyers, and $96,600 for repeat buyers.

• 64% of recent home buyers were married couples, which was the highest percentage since 2001.  18% of recent home buyers were single females, which was the lowest share since 2004.  Not exactly sure why that was the case.

• For 27% of recent home buyers, the primary reason that they bought, was simply a desire to own a home!

Sellers

• The typical seller lived in their home for 9 years.  The median tenure has increased in recent years.  As recently as 2007, it was six years.

• 87% of sellers used a realtor when selling.  (I love that statistic!)

• Recent sellers sold for 95%of the listing price, and 61% reported that they reduced the price at least once.

• 41% of sellers offered incentives to attract buyers, most often offering home warranties and help with closing costs.

The entire buyer and seller report is almost 200 pages, and includes interesting charts and graphs.  I can email the report, if anyone is interested in seeing it.

I like to look at the report and see how the national experiences of buyers and sellers, compares with what I find in my real estate business in Yardley, Newtown and Bucks County.  I will talk about the report in future posts, but it is always important for me to emphasize that, especially in our area, real estate is moving.  I have had recent listings that have sold within a very short period of time, and the market is active.

If you would like to see the home buyer and seller report, please email me at Marty@MartinMillner.com.

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.

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.

The author of the article described the journey from moving 9 times in 9 years, from college dorms to various apartments, before deciding to look for something a bit more permanent in the form of a house. In 2009, the author purchased a home, and based on that experience, has suggested five important pieces of advice.

This story resonated with me, because I have three kids who, I suspect, are within a couple of years or so of the author.

Each of my three kids has already purchased a home, or is currently in the process of purchasing a home. I have learned first hand, from their experiences, how daunting and potentially confusing the home buyer process can be, especially for fist time home buyers.

Yardley, Newtown and the entire Bucks County area offers great opportunities for owning real estate. Especially now, with prices lower than they have been in years, and with interest rates at historic lows, it is a great time to buy real estate. However, if you have not been through the process before, it is scary!

I appreciated the advice given in the MSNBC article, and thought that these are five great suggestions.

1. Have a good realtor. I know that I am biased, because this is what I do. But personally, I love working with first time home buyers. I feel that it is my responsibility to be sure that first time home buyers are comfortable with the process, and at each step in the home buying process clearly understand their options and what is happening. I enjoy guiding and educating first time home buyers through the experience, and I know that as we move through the experience, they will understand the process completely.

2. Educate yourself. Again, I think this is great advice. There is a tremendous amount of information that you can find on-line. I actually have a book called, “Before You Buy”, that I can send to people who are interested while my supply lasts. It is a great book on buying a home. The National Association of Realtors also has a buyers guide. It is important to learn as much as you can.

3. Talk to neighbors. I think that this is a great suggestion, and it isn’t done often enough. Before finalizing an offer on a house, it is a great idea to speak with neighbors. Ask them what they like about living in the neighborhood, and ask whether there is anything they don’t like. You may be surprised by what you learn.

4. It is OK not to do everything in the house in the first month you own it. I have worked with buyers who become a bit overwhelmed by thought that they have to furnish, decorate and update an entire house. Remember, there is nothing wrong with taking on projects in stages. Start with rooms and spaces that are most important, and do not feel that it is necessary to everything at once. It will all come together, eventually, and that is fine.

5. Be aware of, and prepared for, hidden costs. When you are a home owner, unexpected costs will occur. Try and be prepared. Could be plumbing issue. Maybe the heater needs a repair. When working on a budget, try and allocate a reserve for these, sudden, and unexpected costs that will come up.

Finally, in searching for your first home, you should love it. It is exciting, it is a lot of money, but in the end, should all be worth it.

If you want a copy of the book, “Before You Buy”, send me your contact information, and I will get a copy out to you. I have about five or six copies left.