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The best in Bucks County

The Truth About Real Estate In Bucks County

Mar. 6, 2008
Categorized in: Local News

I have written a few posts recently, about the state of the real estate market in Bucks County.  In those posts, I have consistently pointed out that our local market, is not doing all that badly.  That is especially the case when you compare what is happening in Bucks County, with what is happening in many parts of the county.   If you listen to the national press, you would assume that the bottom is falling out of the real estate market in Bucks County.  I have been extremely frustrated with our local  press, because until recently, there have been very few articles that accurately portray the state of the local market.  In case anyone has not told you, real estate is, and always has been, local.  What is happening in Florida, Arizona and California, has nothing to do with what is happening in Bucks County.

The chart actually documents, from data taken directly from our MLS system, that there were more closed units in Lower Makefield Township in 2007, than in 2006.  You would certainly not know this, from reading the local newspapers.  This is not to suggest that our market is not a, “buyers market”.

I found a couple of very well written articles, in local publications, that very accurately portray the state of our local market.  First, the current issue of Philadelphia Magazine, has on its cover, the following headline, “Philadelphia, Smile.  Your house is worth more than you think.” 

In the article, the author points out that the general Philadelphia metropolitan area, of which Bucks County is included, is holding up quite well, compared with other parts of the country.  The article explains why the Philly area market is better than you are being told.  He points out that the area economy is still strong.  Another point made, is that we are a primary residence market, for the most part.  There was never a lot of speculative buying, during the hectic, appreciating years.  As a result, although prices appreciated nicely in the Bucks County area, they did not appreciate as much as they did in more speculative areas.  Conversely, as other parts of the country have crashed, our landing has been much smoother.  The article dispels several other myths about the local real estate market.  I highly recommend getting a copy of the article.  If you are reading this, and would like a copy, please let me know, and I can send it via email.

The second article, was a column in the Philadelphia Inquires, this past Sunday, by the papers real estate columnist, Alan J. Heavens. 

Alan talks in his column, about real estate from a historic perspective.  He says, “Real estate is local as local as a block.  Forget the web nuts and NBC nightly news.  There is no national housing market.”  Further, he observes that if you are thinking of selling but worried that the housing market is glutted.  Forget it, he says.  Houses linger because they aren’t priced right for the market.  How true! 

Interest rates are low, and there is mortgage money available, despite the challenges of the sub-prime lending fiasco.

In a nutshell, as I have been saying recently, the real estate market in Bucks County is not as bad as the press would have us all believe.  Houses are selling every day.  The spring market is upon us and I will report on how the first quarter faired, once we get through March. 

In another post, I will provide some additional statistics for other Bucks County markets. 


The Power of Feng Shui in Real Estate

Feb. 7, 2007

I just received the February issue of the Pennsylvania Association of Realtors (PAR) magazine, and there were a couple of very interesting and informative articles on Feng Shui.  As a realtor, Feng Shui comes up in conversation, fairly often.  I though it might be worth having a brief discussion about what Feng Shui is, and how it relates to real estate.

I just received the February issue of the Pennsylvania Association of Realtors (PAR) magazine and there were a couple of very interesting and informative articles on Feng Shui.  As a realtor, Feng Shui comes up in conversation fairly often.  I thought it might be worth having a brief discussion about what Feng Shui is and how it relates to real estate.

According to Chinese traditions,  Feng Shui handles five main elements in order to achieve balance and harmony in any space.  Each of the five elements have their own characteristics and properties.  To create harmony, using the art and science of Feng Shui, each of the elements must be properly employed according to their characteristics and effects.

Chinese Symbol for HappinessThe five elements of Feng Shui are fire, earth, metal, water and wood.  Having all of thtem represented in various areas of a property bring the property into balance.  Often times representing the elements is done through the use of color.  For example, red represents fire.  There are metaphors for the elements; you don't necessarily have to see a fire burning. 

According to author Jakob Jelling, who is the founder of http://www.fengshuicrazy.com/, the following represents the characteristics of the various elements:

Wood Represents innovation, creativity and birth and is a sociable element. This element corresponds to the color green and the east direction.  By placing this element at a strategic spot in any space, it adds all of the concepts in represents.

Fire Symbolizes and brings activity, enthusiasm and energy to the places where it can be found.  It is a warm element that must be treated with measure since too much of it can destroy what surrounds it.  As mentioned above, fire is often represented by the color red and direction south and symbolizes the puberty years.

Earth Symbolizes stability, patience and honesty.  It is a methodic element that can also become demanding and is ideal for everything that is related with real estate and inheritances.  Earth is often symbolized by the color yellow and is representative of the early youth years.

Metal Represents success in business and harvesting.  White and gold are the colors that symbolize it and its direction is west.  This Feng Shui element symbolizes the adult years of human life.

Water Has an important role among Feng Shui elements. The word Feng Shui itself means water and wind.  Water represents communications and traveling but it also represents learning, arts and media.  Water is elemental for living, not only for humans but also for animals and plants.  It can be quiet or violent.  This element is represented by the color black and direction north and symbolizes the old human years.

I have actually had buyers request to see homes that have "good Feng Shui".  Feng Shui can do a lot of things to make a property more appealing to buyers. This, along with staging -- which I will discuss in another post -- can help make a property stand out in a tight market. 

As realtors, it is important that we realize that Feng Shui does not have anything to do with religion or superstitions.  It is all about creating an enviornment in which buyers will embrace the atmosphere and want to remain longer.  That way they may be more inclined to write offers. 

I hope that you found this little primer on Feng Shui interesting.  Please don't hesitate to contact me with any questions about this, or any other concern about real estate or life in Bucks County.

Fabulous Philadelphia Restaurant

Feb. 4, 2007

As I mentioned in my previous post, one of the things I love about being in Bucks County is the proximity to both Philadelphia and New York.  Yardley,  which is where I live, -- actually Lower Makefield Township, which has a Yardley mailing address -- is only about 35 minutes from center city Philadelphia on a Saturday evening.  If you are not familiar with Philadelphia it is a wonderful city to explore.  World-class restaurants, fabulous orchestra and concert halls, great music and much more. However, our sports teams are not so great. Following Philadelphia sports teams is a soap opera unto itself. 

Last evening my wife and I joined friends of ours for dinner at a new restaurant in Philadelphia.  Because the restaurant was so incredible, I wanted to mention it.  It is called, Waterworks, and is located just around the corner from the art museum.  You can actually see boathouse row from the restaurant, which is really beautifull.  Again for those who are not familiar with Philadelphia, boat house row is along the Schuykill River where rowing clubs have their huts and clubhouses.  They are beautiful to see at night.

Anyway, this restaurant is absolutely fabulous and I would recommend it to anyone looking for a great dining experience in Philadelphia.  The building that houses the restuarant dates back to the 1800s and the current owner has done an amazing job of renovating it.  It looks as though they will have outdoor seating in warm weather, with views of the river, which should be very enjoyable.  The food and service is outstanding and I don't think you will regret giving it a try if you are in the Philadelphia area. 

It is hard to believe that today is Super Bowl Sunday already.  From a real estate perspective, the Super Bowl is important because we, in the industry, talk about the start of the spring market as beginning once the Super Bowl is over.  The spring market is generally the most active market for real estate.  Many people want to coordinate their moves once the school year ends and this generally begins at the end of June.  As a result, even though it is only February, people begin their search for homes now. They also begin the process of exposing their homes to the market this time of the year looking for late June, July and August closings.  If you are in that group, it is not too soon to begin the process.  I have an excellent booklet of 450 ideas to get your home sold quickly and for the highest price.  It offers a checklist of things to take care of to make the process as smooth as possible.  The booklet can be e-mailed and is free for anyone interested in obtaining a copy.  I also have a book about moving with children and moving with pets, which can also be e-mailed.  They all offer wonderful suggestions for dealing with the entire process of getting your house ready for the market and dealing with the process of moving with children and pets.

Enjoy the Super Bowl.

 

Blogging in Bucks County, Pa.

Feb. 1, 2007

Welcome to my Bucks County real estate -- and other related and/or non-related  -- blog spot.  My goal in creating this blog is to provide a personal perspective on Bucks County life, as well as providing an insight into real estate in Bucks County.  Although I am new to blogging, I am not new to real estate or Bucks County and I love to write.  I have lived in Bucks County for almost 30 years and have been working as a realtor for more than 13 of those years. This means that I should know Bucks County real estate.  Because Bucks County, Pennsylvania is so close to New Jersey -- and because I was born in New Jersey -- I also do real estate in New Jersey.  There are definitely advantages and disadvantages to living in either state. 

To those who do not know Bucks County, let me familiarize you about this absolutely wonderful place. It is a great place to live and features excellent schools, loads of history and charm, and absolutely gorgeous and stunning settings.  The Delaware River meanders through the county, and there are many towns and villages along the river. In fact, the river acts as a border between Pennsylvania and New Jersey.

There is a huge array of housing options in Bucks County. Most people who are new to the area find the housing expensive compared to many other parts of the country.  Central Bucks County is about 35 minutes from Center City, Philadelphia and only about an hour by train from New York City.  Our real estate pricing is slightly lower than the Philadelphia main line and lower than the commuting areas close to New York City; however, it is still expensive when compared with many other parts of the country.  Because there are many types of houses -- from condominiums to small single family homes to huge palatial estates -- there is something for every taste.

I live in Yardley with my wife Jane.  We have 3 children: Rachel, Lauren and Michael.  Rachel has a doctorate in psychology and is in private practice.  She also teaches and has a corporate consulting business, which helps companies with diversity training, conflict resolution strategies and helps executives maximize both individual and corporate potential.

Lauren currently owns and operates a Coldstone Creamery Ice Cream store in the Mercer Mall in Lawrence Township, New Jersey.  If you have never experienced Coldstone, do yourself a favor and check it out.  The ice cream is absolutely amazing!

Michael, our youngest, recently graduated from the University of Maryland and is working at a Marriott near campus.

In my life away from real estate, (I occasionally have some free time) I love basketball.  My tag line is that I am old, but slow!  I love to read both fiction and non-friction.  I play golf (if you can call what I do actually playing golf) and love all kinds of music.  I am currently taking guitar lessons, which is something that I have always wanted to do.  Jane and I love to eat so we enjoy trying new restaurants anywhere in the Bucks County area as well as in Philadelphia.

Because this is a real estate-related blog, I should mention that our local real estate market -- as with many areas in the country --went through about a 5-year cycle of rapidly appreciating values with multiple offers on homes not uncommon.  That cycle ended about 6 to 8 months ago.  The market totally shifted and has become more of a buyers market.  That means that buyers have many more choices, houses stay on the market for considerably longer, and offers are generally submitted below the asking price -- sometimes considerably lower than the asking price.  In future posts, I will share some graphs and statistics that will demonstrate exactly what is going on in our market. 

For those who know Bucks County -- although I have worked everywhere in the county -- the areas that I focus on the most are the areas that include Yardley, Lower Makefield Township, Upper Makefield Township, Newtown, Buckingham, Doylestown, Solebury and Langhorne. 

Well I guess that is enough for my first post.  I would encourage you to post comments or feedback.  If you have real estate-specific questions, I would be happy to answer them for you.  If you have any questions related to life in Bucks County, please let me know.  In the meantime, please visit my websites at www.TourBucksCounty.com, www.MartinMillner.com and  www.TeamMillner.com.

 

 

 

 

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