Showing posts with label Lower Makefield. Show all posts
Showing posts with label Lower Makefield. Show all posts
Sunday, March 19, 2017
Radon--A Common Hazard Found in Bucks County
Take Action Against Radon
By John Voket
Homeowners should make sure they and their families are safe from the dangerous effects of radon. The EPA encourages everyone to have their homes tested - here's why.
The EPA defines radon as a gaseous, toxic radioactive element that comes from the natural decay of uranium in nearly all soils. It typically moves up through the ground to the air above and into your home through cracks and other holes in the foundation.
Your home can trap radon inside, where it can build up. New and old homes, well-sealed and drafty homes, and homes with or without basements can be affected.
You can’t see, smell or taste radon, but it could be present at a dangerous level in your home. Radon is the number one cause of lung cancer among non-smokers, according to EPA estimates, and overall, radon is the second leading cause of lung cancer.
The EPA recommends that you have your home tested, which is easy and inexpensive. Find a professional in your area or purchase your own test kit.You can find a radon test kit order form online along with a coupon. Some home improvement stores also sell radon test kits. Follow the directions on the package for where to place the device in your home and where to send it to receive your reading.
If you'd prefer to have a professional inspect your home, find out who your state radon contact is and the particular requirements for your state. Your state may also be able to provide you with a list of certified contractors.
If you're considering a new home, look for builders who use radon-resistant new construction. Fuad Reveiz of the National Association of Home Builders says building techniques to prevent radon from entering a home are practical, straightforward and an inexpensive way to offer families a benefit that could reduce their risk of lung cancer.
Visit www.epa.gov/radon for more details on radon and how to prevent it from risking your family's health.
Reprinted with permission from RISMedia. ©2017. All rights reserved.
Friday, May 11, 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.
Wednesday, December 7, 2011
Bucks Real Estate Market vs. National Market
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.
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.
Sunday, December 4, 2011
Should You Have a Buyer's Agent When Purchasing A Home?
Most home buyers start their search for a new home by viewing properties on the Internet. Many will also visit open houses. This is a great way for buyers to acquaint themselves with what is available in their price range. When they see something they might like, they tend to call the agent whose name pops up by the property on the Internet. Depending on the website, this may or may not be the listing agent.
The advantage of dealing with the listing agent is that s/he may be more familiar with the property than other qualified agents. The disadvantage is that s/he represents the seller. Is this a matter of concern, and should you have a buyer's agent when purchasing a home?
The concept of "buyer's agent" is a fairly new one. Historically, the realtor working with the buyer was actually an agent for the seller. The logic was that the realtor was being paid a commission by the seller; so, his interests were to be primary. This led to many buyers misunderstanding the role of the realtor with whom they were working and dissatisfaction with the transaction. Consequently, the concept of "buyer's agent" was born. Now, even though an agent is paid a commission by the seller, s/he can represent the interests of the buyer.
If you purchase a home from the listing agent, are you represented? Well, not to the extent that you would be if you had your own agent. When the listing agent is also the buyer's agent, s/he is a "dual agent." A dual agent must walk a tight rope and not favor one party over the other. PA law states that a dual agent take "no action that is adverse or detrimental to either party's interest in the transaction." A dual agent owes both parties confidentiality, except that the agent must disclose material defects. In other words, the dual agent must remain neutral to both parties during negotiations and during the transaction.
Some buyers are savvy negotiators and familiar with real estate transactions, but most benefit from the guidance of an experienced agent representing them alone. Many times buyer's will seek guidance on price values, appropriate starting points for price negotiations and responses to inspection issues. Although each transaction is unique, experienced agents gain a feel for reading between the lines and knowing what the traffic will bear. Having an agent that truly represents you as a a buyer is usually an advantage.
If you wish to be represented, should you wait until you find the right home? After all, if you call a real estate office, some agent will probably show you the house you are curious about, and many will agree to e-mail you new properties that meet your criteria. Well, it's possible to find a property that way, but most agents will not expend a lot of effort trying to find the perfect house for you if they think you may buy through another agent. By hiring an agent to represent you, your status changes from a "customer" to a "client". A buyer's agent in PA is obligated to make a "continuous and good faith effort" to find a suitable property for you. In exchange, you agree that during the time period of the agency agreement, you will not purchase a home through another agent. Hiring an agent early in your home search will also allow you to choose your agent rather than winding up with an agent that happened to answer the phone when you called to see a house.
When I am employed as a buyer's agent, finding my client the right home is important to me and a priority. I search the MLS daily and visit broker's open houses to see if a home meets my client's criteria. I often drive by properties to check locations and neighborhoods and frequently preview homes before actually showing them to buyers. This is a major commitment of time and effort. Many agents work this way. Buyers who shop through several agents may not be serious buyers and are less likely to buy from any particular agent. Therefore, they do not get the time and attention buyers who have shown loyalty to an agent will command.
The advantage of dealing with the listing agent is that s/he may be more familiar with the property than other qualified agents. The disadvantage is that s/he represents the seller. Is this a matter of concern, and should you have a buyer's agent when purchasing a home?
The concept of "buyer's agent" is a fairly new one. Historically, the realtor working with the buyer was actually an agent for the seller. The logic was that the realtor was being paid a commission by the seller; so, his interests were to be primary. This led to many buyers misunderstanding the role of the realtor with whom they were working and dissatisfaction with the transaction. Consequently, the concept of "buyer's agent" was born. Now, even though an agent is paid a commission by the seller, s/he can represent the interests of the buyer.
If you purchase a home from the listing agent, are you represented? Well, not to the extent that you would be if you had your own agent. When the listing agent is also the buyer's agent, s/he is a "dual agent." A dual agent must walk a tight rope and not favor one party over the other. PA law states that a dual agent take "no action that is adverse or detrimental to either party's interest in the transaction." A dual agent owes both parties confidentiality, except that the agent must disclose material defects. In other words, the dual agent must remain neutral to both parties during negotiations and during the transaction.
Some buyers are savvy negotiators and familiar with real estate transactions, but most benefit from the guidance of an experienced agent representing them alone. Many times buyer's will seek guidance on price values, appropriate starting points for price negotiations and responses to inspection issues. Although each transaction is unique, experienced agents gain a feel for reading between the lines and knowing what the traffic will bear. Having an agent that truly represents you as a a buyer is usually an advantage.
If you wish to be represented, should you wait until you find the right home? After all, if you call a real estate office, some agent will probably show you the house you are curious about, and many will agree to e-mail you new properties that meet your criteria. Well, it's possible to find a property that way, but most agents will not expend a lot of effort trying to find the perfect house for you if they think you may buy through another agent. By hiring an agent to represent you, your status changes from a "customer" to a "client". A buyer's agent in PA is obligated to make a "continuous and good faith effort" to find a suitable property for you. In exchange, you agree that during the time period of the agency agreement, you will not purchase a home through another agent. Hiring an agent early in your home search will also allow you to choose your agent rather than winding up with an agent that happened to answer the phone when you called to see a house.
When I am employed as a buyer's agent, finding my client the right home is important to me and a priority. I search the MLS daily and visit broker's open houses to see if a home meets my client's criteria. I often drive by properties to check locations and neighborhoods and frequently preview homes before actually showing them to buyers. This is a major commitment of time and effort. Many agents work this way. Buyers who shop through several agents may not be serious buyers and are less likely to buy from any particular agent. Therefore, they do not get the time and attention buyers who have shown loyalty to an agent will command.
Wednesday, November 30, 2011
Bucks County Home Sale Facts: First 10 Months of 2011
Home sales and prices in Bucks County have declined during the first 10 months of 2011 although October, 2011 saw a significant increase in the number of sales compared to October, 2010. Figures for 2010 are distorted by the federal New Homeowners Tax Credit which resulted in buyers purchasing homes in the first half of 2010 to receive the tax credit and decreased sales in the second half of 2010. We are now seeing home sales figures without the effect of federal stimulus.
Year-to-Date Market Snapshot: 1/01/2010-10/31/2010 vs.1/01/2011-10/31/2011
Homes Settled.........................Down 5.4%
Average Sold Price..................Down 5.3%
Average Days on Market........Up 19%
Source: Coldwell Baker Hearthside Realtors Market Research from Trend MLS.
Year-to-Date Market Snapshot: 1/01/2010-10/31/2010 vs.1/01/2011-10/31/2011
Homes Settled.........................Down 5.4%
Average Sold Price..................Down 5.3%
Average Days on Market........Up 19%
Source: Coldwell Baker Hearthside Realtors Market Research from Trend MLS.
Thursday, November 3, 2011
Bucks County Home Prices
The following chart shows annual market appreciation for several communities over the past ten years. It's too early to predict 2011 results, but so far it appears the prices of homes in Bucks County will decrease by about 5% in 2011.
| Per Year Appreciation SF Homes (ex Condos) Higher Volume Markets | ||||||||
| Source: COLDWELL BANKER HEARTHSIDE REALTORS MARKET RESEARCH from MLS data | ||||||||
| L. Makefield Twp | Newtown Twp | Northampton Twp | Buckingham Twp | |||||
| Apprec | Units | Apprec | Units | Apprec | Units | Apprec | Units | |
| 2010 Avg$ | $427 | $378 | $403 | $577 | ||||
| 2010 | -7.6% | 305 | -2.1% | 202 | 3.5% | 300 | 15.1% | 214 |
| 2009 | -6.7% | 255 | -3.7% | 224 | -9.9% | 287 | -16.1% | 174 |
| 2008 | 3.1% | 251 | -2.4% | 231 | -2.3% | 278 | -2.9% | 204 |
| 2007 | -6.4% | 379 | -0.1% | 260 | -3.3% | 351 | 1.7% | 252 |
| 2006 | 3.6% | 355 | 10.9% | 299 | 8.2% | 376 | 5.2% | 257 |
| 2005 | 11.6% | 432 | 6.9% | 354 | 8.9% | 437 | 10.4% | 329 |
| 2004 | 10.4% | 465 | 12.0% | 360 | 10.7% | 457 | 10.6% | 288 |
| 2003 | 11.7% | 465 | 11.9% | 344 | 5.5% | 410 | 5.4% | 279 |
| 2002 | 9.8% | 427 | 14.5% | 285 | 14.6% | 398 | 15.2% | 259 |
| 2001 | 13.5% | 453 | 5.7% | 321 | 15.3% | 409 | 17.9% | 239 |
| 2000 Avg$ | $288 | 445 | $229 | 307 | $249 | 377 | $329 | 279 |
| Doylestown Twp | Falls Twp | Middletown | Twp | Bristol Twp | ||||
| Apprec | Units | Apprec | Units | Apprec | Units | Apprec | Units | |
| 2010 Avg$ | $412 | $236 | $300 | $174 | ||||
| 2010 | -0.2% | 133 | 2.0% | 201 | 4.4% | 309 | -2.4% | 391 |
| 2009 | -8.2% | 136 | -5.9% | 216 | -5.3% | 322 | -7.6% | 501 |
| 2008 | -0.2% | 114 | -6.4% | 202 | -7.9% | 309 | -8.4% | 490 |
| 2007 | -5.9% | 168 | 2.5% | 284 | 0.4% | 347 | -0.1% | 561 |
| 2006 | 1.8% | 178 | 1.4% | 282 | 7.5% | 407 | 5.9% | 593 |
| 2005 | 14.9% | 189 | 13.6% | 280 | 10.0% | 427 | 15.9% | 738 |
| 2004 | 10.2% | 198 | 20.8% | 304 | 11.8% | 467 | 11.3% | 711 |
| 2003 | 5.8% | 184 | 12.5% | 269 | 11.7% | 406 | 18.1% | 629 |
| 2002 | 21.2% | 182 | 13.3% | 279 | 11.9% | 397 | 13.9% | 589 |
| 2001 | 9.1% | 164 | 7.3% | 237 | 12.5% | 366 | 5.8% | 601 |
| 2000 Avg$ | $266 | 175 | $135 | 266 | $176 | 369 | $109 | 539 |
| Bucks County | Bensalem | Twp | Morrisville Boro | |||||
| Apprec | Units | Apprec | Units | Apprec | Units | |||
| 2010 Avg$ | $343 | $252 | $178 | |||||
| 2010 | 4.3% | 4558 | -1.7% | 312 | -4.1% | 54 | ||
| 2009 | -6.8% | 4829 | -5.7% | 319 | -10.9% | 100 | ||
| 2008 | -6.7% | 4806 | -2.1% | 363 | -8.1% | 74 | ||
| 2007 | 0.6% | 6048 | -2.9% | 398 | 1.4% | 103 | ||
| 2006 | 4.1% | 6408 | 9.5% | 433 | 0.7% | 133 | ||
| 2005 | 11.6% | 7454 | 15.9% | 506 | 18.6% | 144 | ||
| 2004 | 13.1% | 7470 | 11.8% | 459 | 19.1% | 159 | ||
| 2003 | 10.0% | 6893 | 12.4% | 446 | 9.7% | 144 | ||
| 2002 | 15.6% | 6429 | 17.9% | 431 | 12.8% | 116 | ||
| 2001 | 7.5% | 6364 | 15.8% | 446 | 4.9% | 138 | ||
| 2000 Avg$ | $209 | 6275 | $132 | 488 | $121 | 123 | ||
| Appreciation measured by Change in Sold Average Price year over year | ||||||||
| MLS Stats are not held beyond 2000 base year | ||||||||
| 2000 Avg$ displays Base Year Average Price for the Indicated Market | ||||||||
| 2010 Avg$ displays Average Price for the Indicated Market | ||||||||
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