Most buyers these days are looking for similar features in a new home. The list generally includes fantastic kitchens, hardwood floors, new or remodeled bathrooms, open floor plans, high ceilings and walk in closets in the master bedroom.
These features can be difficult to find in Lower Makefield, Upper Makefield and Newtown for buyers seeking a single family home in the $350,000 to $550,000 price range.
When moving from areas where housing prices are lower than in Bucks County, or from places where there is a lot of new construction, buyers are usually disappointed. They frequently have to see many homes before they realize they must lower their expectations
The Bucks County communities along the I95 corridor were largely developed before 1995 with many of the homes being 30-50 years old. These homes can be very nice, but buyers frequently view them as dated and in need of remodeling. There are some newer homes, but those homes generally command higher prices. If the buyers are lucky they may find a home that has been significantly updated, but in most cases they make compromises.
What many buyers don't immediately realize is that most of these older homes are well built and comfortable to live in. Updating can be done gradually and may not be as expensive as anticipated. The area's ease of commuting to different destinations, fine schools and desirable neighborhoods are well worth the tradeoff.
Showing posts with label Yardley Homes for Sale. Show all posts
Showing posts with label Yardley Homes for Sale. Show all posts
Wednesday, June 27, 2012
Wednesday, February 15, 2012
Get A Mortgage Preapproval Before Your Home Search
Most home buyers need to finance their purchase with a mortgage. Unfortunately, many don't realize they should obtain a mortgage preapproval before they seriously look for a home. Sellers today usually insist on seeing a preapproval before negotiating the sale of their property.
I'm working with a couple now that had an idea of the price of the home they could purchase, but found a home they wanted to look out before getting a mortgage preapproval. They loved the house, but needed a preproval to make an offer. They obtained a preapproved, but found that they can only make a very low offer on the home. They may get lucky and the seller may accept their offer; but, they were looking for homes above their price range. I fear they will be disappointed.
To avoid disappointment and wasted time looking at homes above their price range, buyers should get a mortgage preapproval before shopping for a home.
A mortgage preapproval does not lock a buyer into a specific mortgage company. Buyers can still shop around for the best rate. It will help them to know their price limitations and allow them to move quickly when they find the home of their dreams.
I'm working with a couple now that had an idea of the price of the home they could purchase, but found a home they wanted to look out before getting a mortgage preapproval. They loved the house, but needed a preproval to make an offer. They obtained a preapproved, but found that they can only make a very low offer on the home. They may get lucky and the seller may accept their offer; but, they were looking for homes above their price range. I fear they will be disappointed.
To avoid disappointment and wasted time looking at homes above their price range, buyers should get a mortgage preapproval before shopping for a home.
A mortgage preapproval does not lock a buyer into a specific mortgage company. Buyers can still shop around for the best rate. It will help them to know their price limitations and allow them to move quickly when they find the home of their dreams.
Thursday, January 5, 2012
Are Home Prices Stabilizing?
During the past few months, articles have appeared in real estate publications indicating that home prices may be stabilizing.
The chief economist for the National Association of Realtors has pointed out that recent pending home sales figures have increased over the past few months. Pending home sales represent homes for which there is an outstanding agreement of sale, but the property is awaiting settlement. http://speakingofrealestate.blogs.realtor.org/2012/01/03/2012-home-sales-positives-on-many-fronts/?cid=WR01052012:38917&ed_rid=2572431
An article in Kiplinger's suggests the negatives in the home sales market are balanced by the positives, and suggests that nationally, average home sale prices may have bottomed out. Prices are not expected to rise significantly, but the Kiplinger's believes the worst is over. http://www.kiplinger.com/magazine/archives/where-home-prices-are-headed.html.
Real estate markets are local. We've seen some positive signs in Bucks County, but it's too soon to predict trends and to say our local market will mirror national trends. For those who plan to stay in a home for several years, it appears to be a great time to buy. Prices are quite attractive and interest rates are at historic lows.
The chief economist for the National Association of Realtors has pointed out that recent pending home sales figures have increased over the past few months. Pending home sales represent homes for which there is an outstanding agreement of sale, but the property is awaiting settlement. http://speakingofrealestate.blogs.realtor.org/2012/01/03/2012-home-sales-positives-on-many-fronts/?cid=WR01052012:38917&ed_rid=2572431
An article in Kiplinger's suggests the negatives in the home sales market are balanced by the positives, and suggests that nationally, average home sale prices may have bottomed out. Prices are not expected to rise significantly, but the Kiplinger's believes the worst is over. http://www.kiplinger.com/magazine/archives/where-home-prices-are-headed.html.
Real estate markets are local. We've seen some positive signs in Bucks County, but it's too soon to predict trends and to say our local market will mirror national trends. For those who plan to stay in a home for several years, it appears to be a great time to buy. Prices are quite attractive and interest rates are at historic lows.
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