Check out the
website and make your reservations early. It is a great opportunity to explore
Center City's high end restaurants for only
$35 per person for a three course meal.
WEBSITE
http://www.centercityphila.org/life/RestaurantWeek.php
Saturday, December 28, 2013
Philadelphia Restaurant Week January 19-31
Philadelphia Restaurant Week is scheduled for the last week of January, the 19th through the 31st.
WEBSITE
http://www.centercityphila.org/life/RestaurantWeek.php
WEBSITE
http://www.centercityphila.org/life/RestaurantWeek.php
Tuesday, November 26, 2013
Bucks County Home Sales Through October, 2013
The first ten months of 2013 showed continued improvement in the Bucks County home sales market. Spring and summer sales were robust, but some of the pent up demand has worked its way through the market and the number of pending sales in October, 2013 were about equal to those in October, 2012.
Wednesday, October 30, 2013
What's Happening in Bucks County?
No matter what your interests, there are lots of opportunities to pursue them in Bucks County.
To find out what's happening in Bucks County, check out the www.BucksCountyAlive,com website.
It's a very comprehensive source of recreational, cultural and family events throughout Bucks County. There's sure to be something going on in which you are interested.
To find out what's happening in Bucks County, check out the www.BucksCountyAlive,com website.
It's a very comprehensive source of recreational, cultural and family events throughout Bucks County. There's sure to be something going on in which you are interested.
Tuesday, September 17, 2013
Bucks County Home Sale Facts Through August, 2013
There was a significant increase of 20.5%.in the number of homes sold in Bucks County during the first eight months of 2013 compared to the first eight months of 2012.
Earlier in the year, buyers who were waiting for the market to bottom out decided the time was right to take the plunge. The spring market was busy and some buyers found themselves in bidding wars with other buyers. The increased demand for homes has caused a decrease of 9.3% in the number of homes for sale at the end of August, 2013 compared to the end of August, 2012.
With the increase in demand for homes, sellers expect sale prices to have increased more significantly than they actually have. On average, prices have increased by 2.4% this year.
Interest rates have increased over the last few months. Time will tell whether the increase will have a significant effect on the rate of home sales.
Earlier in the year, buyers who were waiting for the market to bottom out decided the time was right to take the plunge. The spring market was busy and some buyers found themselves in bidding wars with other buyers. The increased demand for homes has caused a decrease of 9.3% in the number of homes for sale at the end of August, 2013 compared to the end of August, 2012.
With the increase in demand for homes, sellers expect sale prices to have increased more significantly than they actually have. On average, prices have increased by 2.4% this year.
Interest rates have increased over the last few months. Time will tell whether the increase will have a significant effect on the rate of home sales.
Wednesday, August 21, 2013
The Allergist's Wife
Last night, I went to a wonderful play at the Bucks County Playhouse, "The Allergist's Wife". It stars Marsha Mason, from "Goodbye Girl" and Marilou Henner from "Taxi". It is really funny; well written and well acted. If you get a chance, go see it. It's playing through September 1.
Since the Bucks County Playhouse was renovated and reopened, it has attracted major talents and presented interesting shows. It is again a major asset to the area. I'm thinking of becoming a season ticket holder.
Here's a link to the theater's website and its schedule of events:
http://www.bcptheater.org/shows-events-seasons/playhouse-productions-season/
Since the Bucks County Playhouse was renovated and reopened, it has attracted major talents and presented interesting shows. It is again a major asset to the area. I'm thinking of becoming a season ticket holder.
Here's a link to the theater's website and its schedule of events:
http://www.bcptheater.org/shows-events-seasons/playhouse-productions-season/
Saturday, July 27, 2013
Saturday, May 18, 2013
Homes Are Selling Again in Bucks County!
What a difference a year makes!
Last year, agents in Bucks County were commenting that there were too few serious buyers and homes were taking quite awhile to sell. This year, sellers of the most desirable homes are frequently receiving multiple offers on their properties. I've had two instances in the past month in which buyers I have been working with have made excellent offers, but were out bid by other buyers.
The figures are striking. The number of Pending Sales as of April 30, 2013 is up 46% compared to Pending Sales on the same day a year ago. Pending sales are the number of homes under contract that have not yet been settled.
Last year, agents in Bucks County were commenting that there were too few serious buyers and homes were taking quite awhile to sell. This year, sellers of the most desirable homes are frequently receiving multiple offers on their properties. I've had two instances in the past month in which buyers I have been working with have made excellent offers, but were out bid by other buyers.
The figures are striking. The number of Pending Sales as of April 30, 2013 is up 46% compared to Pending Sales on the same day a year ago. Pending sales are the number of homes under contract that have not yet been settled.
Wednesday, May 15, 2013
A Tip for Septic System Care
I recently attended a septic system inspection. Unfortunately, the system failed and needs replacing.
It's difficult to say exactly why its condition deteriorated. The tank had not been pumped as recently as it should have been. Also, the house has a garbage disposal which generally requires more frequent pumping than houses that do not.
One issue that jumped out at me was when the tank had been pumped, it had been pumped through the air vent. The proper way to pump a septic tank is by removing the septic tank cover.
I've owned homes with septic tanks for over twenty years. On two occasions I've caught the pumping company trying to pump the tank from the vent. Doing so will not properly remove all the solids from the tank and could eventually lead to solids getting into the leaching lines.
The crews for the septic pumping companies sometimes take this short cut because many tanks require significant digging to uncover. Digging down three or more feet when the ground is either dry or muddy is a nasty job. It's not surprising that an unsupervised crew would seek a short cut.
When another one of my clients had their septic system inspected, it took a lot of digging for the septic tank cover to be reached. They decided to add an extension to the tank opening so it could more easily be pumped in the future.
Not everyone can stay home when their septic tank is scheduled to be pumped. However,
if the ground over the septic tank has not been disturbed, the pumping crew is likely to have taken a short cut. Beware.
It's difficult to say exactly why its condition deteriorated. The tank had not been pumped as recently as it should have been. Also, the house has a garbage disposal which generally requires more frequent pumping than houses that do not.
One issue that jumped out at me was when the tank had been pumped, it had been pumped through the air vent. The proper way to pump a septic tank is by removing the septic tank cover.
I've owned homes with septic tanks for over twenty years. On two occasions I've caught the pumping company trying to pump the tank from the vent. Doing so will not properly remove all the solids from the tank and could eventually lead to solids getting into the leaching lines.
The crews for the septic pumping companies sometimes take this short cut because many tanks require significant digging to uncover. Digging down three or more feet when the ground is either dry or muddy is a nasty job. It's not surprising that an unsupervised crew would seek a short cut.
When another one of my clients had their septic system inspected, it took a lot of digging for the septic tank cover to be reached. They decided to add an extension to the tank opening so it could more easily be pumped in the future.
Not everyone can stay home when their septic tank is scheduled to be pumped. However,
if the ground over the septic tank has not been disturbed, the pumping crew is likely to have taken a short cut. Beware.
Monday, April 22, 2013
Market Conditions Update Through March, 2013
The housing market has picked up and realtors are busy. The number of homes sold in Bucks County has increased compared those sold in the prior year, and fewer homes are available for sale.
Most sellers expect prices to have increased, but the statistics do not yet show that to be the case. As demand increases, prices are likely to follow, but sellers who are hoping for significant price increases are likely to be disappointed.
Price increases over the next few years in Bucks County are not expected to increase at the double digit rates they did between 2000 and 2006.
The chart below shows an increase in home sales, but a decrease in prices compared to a year ago. Homes generally go under contract two to three months before they are considered sold. Therefore, statistics for homes that went under contract during the Spring, 2013 market will not be available for a couple of months.
Most sellers expect prices to have increased, but the statistics do not yet show that to be the case. As demand increases, prices are likely to follow, but sellers who are hoping for significant price increases are likely to be disappointed.
Price increases over the next few years in Bucks County are not expected to increase at the double digit rates they did between 2000 and 2006.
The chart below shows an increase in home sales, but a decrease in prices compared to a year ago. Homes generally go under contract two to three months before they are considered sold. Therefore, statistics for homes that went under contract during the Spring, 2013 market will not be available for a couple of months.
Sunday, February 17, 2013
Bucks County Home Values 2001 through 2013
Homes are now selling faster than they were a year ago and prices have stabilized.
The average sale price of single family homes in Bucks County in 2012 was $324,000. This represents no change in prices compared to 2011 and is comparable to sale prices in 2004.
Newer homes commanded relatively higher prices than older homes. Buyers tend to pay more for homes with certain amenities. Homes with open floor plans, hard wood floors,and newer kitchens and baths command higher prices than others. Buyers also value curb appeal and will pay more for homes with newer exterior features such as siding, windows and roofs.
The average sale price of single family homes in Bucks County in 2012 was $324,000. This represents no change in prices compared to 2011 and is comparable to sale prices in 2004.
Newer homes commanded relatively higher prices than older homes. Buyers tend to pay more for homes with certain amenities. Homes with open floor plans, hard wood floors,and newer kitchens and baths command higher prices than others. Buyers also value curb appeal and will pay more for homes with newer exterior features such as siding, windows and roofs.
Tuesday, February 12, 2013
Home Improvements That Pay Off
The 2013 Remodeling Cost vs.Value Report has been released.
The report suggests that keeping your home's exterior looking good is the best way to maintain the value of your home.
In the Philadelphia metropolitan area, the home improvements that resulted in the greatest increase in home value are deck additions, new entry doors, garage doors and siding.
Most buyers express a strong preference for updated kitchens and baths, but the the return on investment is actually greater on improvements that maximize a homes curb appeal.
The report suggests that keeping your home's exterior looking good is the best way to maintain the value of your home.
In the Philadelphia metropolitan area, the home improvements that resulted in the greatest increase in home value are deck additions, new entry doors, garage doors and siding.
Most buyers express a strong preference for updated kitchens and baths, but the the return on investment is actually greater on improvements that maximize a homes curb appeal.
Tuesday, January 29, 2013
Selling a Home in Bucks County
At a recent office meeting, we discussed the current state of our local real estate market.
Articles in our local newspapers cover the national market and are reporting significant price increases in many parts of the country. During the real estate bust, areas such as California, Florida and Arizona had price decreases of 50%. Those areas are now recovering and home prices in these areas have increased significantly when compared to their recent lows.
Bucks County did not experience the extreme speculation in housing that occurred in some areas of the country. On average, home prices in Bucks County decreased by about 15-18%. Older homes and luxury homes decreased more significantly.
Homes in Bucks County are now selling faster than they have in the past few years and, buyers, who were spoiled by an unusually high number of homes on the market, are now complaining that there aren't enough homes to choose from.
In many cases, sellers are concluding that they can ask considerably higher prices for their properties than their realtors are suggesting. This is not the case.
I've heard projections from knowledgeable sources that local prices in the next few years are likely to appreciate from 1-3%. Sellers who cite national statistics are often misguided. We did not have the severe market appreciation or decline experienced by many areas of the country; so, we can't expect prices to increase as significantly as in other areas.
Buyers are acutely aware of the recent bubble and bust in the housing market and that prices are not guaranteed to increase. A wealth of information is available on the Internet and buyers are reviewing it. Buyers are comparing properties and have a good understanding of real estate values. They are cautious and unlikely to overpay for a property.
Occasionally, a relatively high price will be agreed upon by a buyer and seller. If a mortgage is involved, the property will have to be appraised. Because of past problems resulting from loose lending practices, lenders are being cautious and appraisers are being conservative. An above market sale price is likely to become an issue when the appraised value is determined to be less than the agreed upon price.
The keys to selling a property in our current market are:
Articles in our local newspapers cover the national market and are reporting significant price increases in many parts of the country. During the real estate bust, areas such as California, Florida and Arizona had price decreases of 50%. Those areas are now recovering and home prices in these areas have increased significantly when compared to their recent lows.
Bucks County did not experience the extreme speculation in housing that occurred in some areas of the country. On average, home prices in Bucks County decreased by about 15-18%. Older homes and luxury homes decreased more significantly.
Homes in Bucks County are now selling faster than they have in the past few years and, buyers, who were spoiled by an unusually high number of homes on the market, are now complaining that there aren't enough homes to choose from.
In many cases, sellers are concluding that they can ask considerably higher prices for their properties than their realtors are suggesting. This is not the case.
I've heard projections from knowledgeable sources that local prices in the next few years are likely to appreciate from 1-3%. Sellers who cite national statistics are often misguided. We did not have the severe market appreciation or decline experienced by many areas of the country; so, we can't expect prices to increase as significantly as in other areas.
Buyers are acutely aware of the recent bubble and bust in the housing market and that prices are not guaranteed to increase. A wealth of information is available on the Internet and buyers are reviewing it. Buyers are comparing properties and have a good understanding of real estate values. They are cautious and unlikely to overpay for a property.
Occasionally, a relatively high price will be agreed upon by a buyer and seller. If a mortgage is involved, the property will have to be appraised. Because of past problems resulting from loose lending practices, lenders are being cautious and appraisers are being conservative. An above market sale price is likely to become an issue when the appraised value is determined to be less than the agreed upon price.
The keys to selling a property in our current market are:
- Pricing
- Condition
- Marketing
Thursday, January 24, 2013
Bucks County Home Sales Statistics 2012
The pace of home sales has definitely increased in Bucks County. Buyers have been spoiled over the last few years and are now complaining that there aren't enough homes on the market to choose from.
Sellers should welcome the increase in home sales. Their homes should sell faster than they would have sold two or three years ago, but they should not assume that prices will significantly increase in the near future.
On average, home prices increased .1% during the 2012 calendar year. Newer homes appreciated more than older homes. Home sale prices, now approximate 2004 levels, and are expected to increase modestly over the next couple of years.
It is an excellent time to be a buyer. With home mortgage rates low, qualified buyers can afford to purchase homes that would have been out of their price range five years ago.
Sellers should welcome the increase in home sales. Their homes should sell faster than they would have sold two or three years ago, but they should not assume that prices will significantly increase in the near future.
On average, home prices increased .1% during the 2012 calendar year. Newer homes appreciated more than older homes. Home sale prices, now approximate 2004 levels, and are expected to increase modestly over the next couple of years.
It is an excellent time to be a buyer. With home mortgage rates low, qualified buyers can afford to purchase homes that would have been out of their price range five years ago.
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