Everyone has read the gloom and doom reports released by the national media; but remember, real estate markets are local and Bucks County has fared better than most areas of the country.
Nationally, short sales and bank owned properties make up about 30% of the market, but in Bucks County, this figure is between 12% and 15%. Although 12-15% is not desirable, it shows that the Bucks County home sales market has not not suffered as much as other parts of the country. There are fewer desperate home sellers in our area, and prices have not dropped as significantly as elsewhere.
This is little consolation for those who purchased homes during the peak of the market, but those who purchased before 2003 are likely to have increased their equity.
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