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.

Great Time to Buy a Home

The real estate market in Bucks County appears to be picking up.  There has been an increase in the number of sales during the first few months of this year compared to the number of sales during the same period last year.  Real estate agents are finding themselves very busy. With prices lower than they have been for eight or nine years, it is a great time to buy.

Check out this week's interest rates.  With rates this low, buyers are finding they can afford more expensive homes than they could a year or two ago.

If you are, looking for a new home, I will be happy to help you.

Bucks County Home Projects with the Highest Pay Back

According to the latest Remodeling on Cost versus Value Report, in the Philadelphia area, the home improvements that provide the highest pay back are deck additions, attic remodeling, minor kitchen remodeling, major kitchen remodeling, bath remodeling and new siding.

This isn't surprising,  I was surprised , however that new fiber cement siding led the list with a 70.6% return on investment.  This is a great product, and home buyers evidiently prefer it to new vinyl siding.

The Smart Money is Buying Homes

I recently read an article written by the chief economist for the National Association of Realtors.
He stated that 22% of homes sold in August were purchased by investors.  With rental prices continuing to rise and prices at affordable levels, the smart money sees value in real estate.

Some potential homeowners are sitting on the sidelines waiting for home prices to bottom out.  Unfortunately, no one can predict the market.  We won't know when prices have bottomed out  until prices start rising again, and by then interest rates may be higher.

Investors are concluding that real estate at today's prices will provide a good return on their investment. The fact that prices may go a little lower is not deterring them from buying. If investors are right, it may be a good time for potential homeowners who plan to stay put for several years to buy a home.