Friday, January 30, 2009

Bucks County Real Estate Inventory - December 2008


We saw an increase in the Months Supply of Inventory from our November numbers of 14.7 months supply of inventory. As of December, we currently have 16.2 months supply of inventory of single family homes, an increase of 76% over two years.

What does this mean to Sellers in Bucks County?

Well, what it doesn't mean is that you'll never be able to sell your home in this market. Homes sell every day, and not all of them are distressed, well-under-market, deal-of-the-century sales. There are plenty of people selling their homes at market value, and moving forward with their lives in a reasonable amount of time.

It does mean that you need to know what you're doing in this market. I'll repeat some advice I gave in November when I presented the October 2008 Months Supply of Inventory:

In order: get it staged, price it right, market the hell out of it.

Want to talk some more, or see the statistics for your local municipality? Shoot me an email, and I'll send it right out to you.

Tuesday, January 27, 2009

2008 Profile of a Pennsylvanian Home Buyer

The National Association of Realtors have released their 2008 Profile of Home Buyers and Sellers.

So, what did Buyers in Pennsylvania look like last year?

  • The median age was 38 years old. For first-time Buyers, the median age was 29 (Go you under-30somethings).
  • 66% of home buyers had no children under the age of 18 in the home.
  • 59% were married couples, 18% single females, 11% single males, and 9% unmarried couples.
  • First time home Buyers accounted for 46% of purchases.

And I thought this was especially relevant:

  • 43% of Buyers used social networking websites such as Facebook, MySpace, etc. (Pssst...look to your Right ->)

So what does this mean for Bucks County Sellers?

Well, for one thing, when staging your home, make sure you're appealing to the right age group. If you're selling an entry level townhome, keep those 20-somethings in mind and make sure that it's not their "parents" house. I'll give you a hint - look to Target for some great decorating ideas.

Another thing to keep in mind is the growth of the single Buyer and the fact that a large percentage of Buyers did not have small children in the home. I've been routinely staging my extra bedrooms as a nursery and a child's room, but perhaps a better option would be as an office/guest room - maybe a daybed and a desk?

Lastly, make sure that you're utilizing social networking sites to sell your home. If you're not participating in any of the sites, ask your Realtor if they are, and if / how they plan to market your home on these sites.

Tuesday, January 20, 2009

112 Fair Oaks Court, Eagle Ridge, Newtown Township / Council Rock School District

As promised, here's the first look at my FABULOUS new listing in the Eagle Ridge development in Newtown Township / Council Rock School District!

Pretty great looking, isn't it?

Price / Condition / Location - this home is a triple threat!

We're going to start off the showings at my

Open house on January 25th from 1-3 p.m.

I've got professional pictures and a 360 degree virtual tour coming in the next day or so, and I'll be continually updating our website. I've even figured out how to post a photo tour on youtube, so watch for that, as well.

Want more information, like floorplans, Seller's Disclosure, Home Owners' Association rules, taxes, or room sizes? Go visit our website!

In the meantime, here are some sneak peeks at this great 2 bedroom, 1.5 bath home. I've also included the google map of the home so that you can see just how close you'd be to Historic Newtown Borough and major roadways for an easy commute.

View Larger Map

Friday, January 16, 2009

Psst...I'll Let You in on a Secret!

grapevine I've got a great new listing coming on the market!

It's a really fabulous townhome located in Eagle Ridge in Newtown Township.  Spacious, well-maintained, private back deck, and priced RIGHT. 

No "Let's price it at 2005 pricing and see what happens."  going on here - I've got super-smart, reasonable Sellers.

They Rock! (And so does their townhome)

Check back on Tuesday for the first peek at this great home.  I promise you won't be disappointed in it's condition, location, or price.  Top notch all around!

Saturday, January 10, 2009

AGAIN with the no electricity...

See this? This is a picture of Brian, Dana, and I trying to look at a house in the absolute PITCH DARK.

Apparently, light itself has become a novelty for not only bank owned properties, but also for pre-foreclosure properties.

I understand that people are losing their homes and all kinds of horrible things are happening to Sellers. I'm sure our ability to see their home, that they are losing, isn't really high up on their list of priorities. I also understand that they honestly may not be able to afford to keep electricity on at the property.

All I ask if for the common courtesy of a heads up when I make the appointment. A simple, "Daylight showings only" in the agent comments will suffice. There's no reason for me to show up at a house where we have to use the lights from our cell phones to navigate the stairs, lockbox, and house itself. It's a complete and utter waste of everyone's time, and quite honestly, pretty ridiculous.

Sure, it's good for a laugh, since hilarity always ensues, but it's not so great for selling a home.

If you're a listing agent with a home like this, please have some common courtesy for your fellow agents, and for our clients. It's a silly situation all around. It's dangerous for people who are looking, and makes our industry as a whole look bad.

Friday, January 9, 2009

Bucks County Real Estate Market Heats Up

Bucks County Buyers are coming out of hibernation, and they're motivated and looking for the deals.

Ok, this is purely a non-scientific observation. In the past week, my personal client base has blossomed. I'm now working with three serious Buyers who weren't looking last week. I feel energized, and excited, and I'm thrilled to be on the hunt again.

The New Year brings about more than resolutions, starvation diets, and gym memberships. The holidays are over, people are doing their taxes, examining what they want for the coming year, and are motivated to make changes in their lives. On top of this, the lure of low interest rates, tax refunds, lower prices, and more inventory only sweetens the deal for Buyers in this marketplace.

I've always used Superbowl Sunday (Go Iggles! :) as my personal benchmark for when our selling season starts to heat up. It's when I feel the energy of the market pick up, and usually see an increase in my business. I was concerned that this year might be different.

It doesn't look like it. Although 2008 was a difficult year for many, it was my second best year in the business. Early indicators look like 2009 may follow suit.

There is value in this marketplace, and Buyers are looking to take advantage of that.