Yeah! My home is SOLD! (Not so fast...)

It's one of the best phone calls I get to make as a REALTOR: the call that we've got a deal. It's especially nice to give that news to Sellers, since they're getting beat up just a bit in the current market.  Be it a full price offer (yeah, they're still around) or a negotiation marathon, it's a huge relief to get that baby under contract.  We all do a happy dance, the Sellers disconnect emotionally from the house, and we all look to move forward.

...Screetch...

That's the sound of your home sale careening out of control and crashing.  Home sales do crash, and it's heartbreaking for all involved when they do. I wrote a post back in January on how to avoid some of the most common pitfalls.

Prudential Fox & Roach did a study of the fall-throughs (home sales that never made it to the settlement table) in their Bucks County offices.  I expected inspection issues to dominate the results, and they did account for nearly 40% of the fall-throughs.  What were some of the other reasons home sales fell through?

7.5% Were Short Sales that never got bank approval.

8.7% were Home Sale Contingencies where the Buyers' home never sold.

12.5% were Mortgages that never came through for one reason or another. (Incidentally, none were from our in-house mortgage broker)

16.2% were Buyers or Sellers who simply changed their mind and backed out of the deal.

15% were "Other."  Nebulous reasons lingering out there that can compromise your home sale.

So, what can you do to avoid the frustration and heartbreak of a becoming a fall through statistic?

Honestly, some of these things you can't control. 

Can you control a Buyer losing their job, and subsequently their mortgage?  No.

How about them getting cold feet?  No.

How about them losing a spouse, child, mother or father and deciding they just can't deal with buying a home?  Nope.

What you need to do is control the things you can.  Get your U&O early.  Jump on any title issues that crop up.  Make sure you want to move before you list your house. Be emotionally ready to let your home go. Make sure you take care of your own side of the deal, and reduce your chances of a failed settlement by 50%.

Have your Realtor touch base with everyone involved in the transaction...frequently.  A little email nagging never hurt anyone, and often will catch little problems before they careen out of control.  Get involved in solutions.  There is no "not my job" in getting a deal to the settlement table.  The Buyer needs some documentation for their mortgage company?  I'm getting it, if their agent isn't.  I'm making sure it gets done so that it doesn't impact MY Seller's chances of closing the deal.

Sometimes, through sheer force of will (and creative team playing) you can get control of the car and get it back on the road to settlement. 

"It's Tricky, Tricky, Tricky, Tricky." ~ Beastie Boys

My dear Sellers in Bucks County, while educating yourself on how to get a quick sale, you're going to find a lot of articles that tout "creative" ideas for getting your home sold. 

Offer the Buyers a Car!  A boat!  A vacation!

Getting tricky isn't the answer.  There are only three things a Buyer really cares about:  price, location, and condition.  That's it.  Every other scenario is encompassed by those three concerns.  A car isn't going to address any of those concerns, is it?  So it's not going to impact your home sale. 

Now, there are several things that you can offer that do address some of those concerns (namely price, since money is always going to be the primary concern for a Buyer).  I wrote of some strategies back in February entitled "7 Creative Ways to Appeal to Buyers." Check out the first word in each sentence - it's PAY. The way to a Buyer's heart is through their pocketbook and their emotions. 

Getting tricky with Buyers is inviting a big, fat, tricky mess.  Let's take the vacation example.  The Buyers decide that they don't want the vacation - they want the money deducted from the home sale.  Their opinion of what the trip costs doesn't match your own.  Now what?  Or, they want the trip, but they want you to upgrade their airfare and rooms.  Now what?  You're not only negotiating your home sale, you're negotiating hotel rooms and airfare.  Seriously, who wants to do that? 

I believe in keeping it simple.  Price your home right, do the right marketing, make it clean and easy to show, keep a level head and the end result in sight.

The process is complicated and emotional enough without adding trips and cars into the equation.

Free Summer Fun in Bucks County - Kid's Castle in Doylestown

For another of the "Gotta Get Out of the House" days that seem to proliferate my writing, take a trip to Kid's Castle in Doylestown. Located in Central Park on Wells Road, this wonderful park offers all sort of activities: tennis, soccer, picnic pavilions, and walking trails. 

The crown jewel of this park, however, is the 8 story wooden castle located in the biggest, baddest, most age-range-pleasing playground I've ever been to.  My 7 and 5 year old scrambled through the castle, went down the enormous twirly slide, and completed the scavenger hunt, while my one year old ran around the farm themed toddler playground.  There is also a HUGE toddler playground, but, well....it's got sand as the base and it didn't feel like dealing with sand that day, so we stuck to the farmyard.

There's also a cute little stream, with big fat toads, where the children can wade and splash.  Boys....can't resist....dirt and mud...

Honestly, though, a hot day with sweaty kids, and this looks like nirvana - toads and all.  We packed a lunch and there were plenty of picnic tables available (even with two school groups).

Bring the kids' bikes because they have 1.5 miles of walking and bike trails. The one walking trail is a real challenge - it's a huge hill and would make a great once a week "tough test" for someone looking to kick up their walking or running.

Take a look at this gorgeous trail that loops around a pond.  There are various stations that tell you about plant species, native birds, invasive plants, etc.  You can see in the background that there are townhomes (Doylestown Station - Cornerstone Court)that back to the park.  Now, I like my privacy, but how wonderful would it be to have this park, with all these amenities, right out your door?  There are a few on the market right now, priced below $400,000.  Feel free to shoot me an email if you have any questions or want more information on them.

Totally free, and impressive to even the most hardened playground connoisseur, keep this in your arsenal for a way to burn off all that extra energy.

Hermit Crabs, Houses, and Happiness - A Parable

Once upon a time, there were two relentless children who nagged their mother and father for a pet.  They wanted a dog, but since the mother and father had cleaned up as much poop as they intended to clean up in their lifetime, Mother and Father said "No."  During a camping trip, the children, desperate for any pet, convinced their Mother and Father to let them buy hermit crabs, "With our own money." Sure, the children didn't really like the hermit crabs, in fact were a actually a little afraid of them, but a pet's a pet, right?  So they settled.  But the children weren't really happy.

When they got home from their trip, Mother had the bright idea to read about hermit crabs.  Mother quickly realized the folly of an over-educated child.  The list of necessary hermit crab paraphernalia was overwhelming, and hermit crabs lived in groups, so more hermit crabs were necessary.  A $60 trip to PetSmart ensued. At PetSmart, the children saw some cats for adoption, and quickly started  a new campaign for a cat, before the "crabitat" had even been set up. Sure, it was fun setting up the "crabitat," but the children really weren't happy.

So, here they sit, with animals that, while growing on the children, really aren't what they wanted.  They're certainly not what Mother wanted - the things are pretty gross.  Everyone should have waited until they were old enough to get a dog or cat.  Everyone likes dogs and cats.  But, no.  Here they sit with hermit crabs, and nobody is happy.

Get what you really want.  Don't get something sorta/kinda/almost what you want, invest a bunch of time and money into it, only to end up with something that still doesn't really make you happy.

If you've read my blog before, you know I love me a junker house, but that's not what I'm talking about.  I'm talking about getting frustrated, getting impulsive, getting rushed.  Really think about what you want and wait for it.  Don't buy something that's almost what you want.  Short of cosmetic fixes, the yard/location/size/function of the house isn't going to change.  If you buy a house that backs to a busy road, you can invest $35,000 on landscaping, but you'll stick be backing up to a busy road.

Average Days on Market for Bucks County Jan. through June 2008

"How long will it take my house to sell?" 

This is probably the most difficult question for a REALTOR to answer.  So many factors play into days on market:  pricing, how much competing inventory you have on the market, even seasonal buying trends.  However, I've compiled the following data from our MLS system to show you the AVERAGE days on market by township in Bucks County through the first half of the year.

Here were my parameters:

• Residential listings
• Priced $1,000 through $9,999,000
• Sold January through June 2008

We're not looking too bad, Bucks County. 

The average for Bucks County is 74 Days on Market.

**Information from TrEND MLS and is deemed reliable, but not guaranteed. 

One caveat, there is a way to "reset" days on market, so if a home has been relisted, the days on market start over.  We are working on a way to calculate the total marketing days on our reporting for the MLS.

Free Summer Fun in Bucks County - Free (or Nearly Free) Family Movies

I have the best save for all the Moms out there who need a little break this summer.  Many area movie theaters are running free or $1.00 movies, which will come in really handy during those "Gotta get out of the house" days where the neverending pleas for "something to do" turn into neverending bickering to pass the time. Enjoy a cheap two hours of peace and quiet at the following...

AMC Theaters are running $1.00 movies.  Go to AMC Summer Movie Camp to find the theater nearest you...

Families, schools and organizations alike are invited to see great kids' movies during AMC Summer MovieCamp. Available at select AMC theatres, this fun-filled program brings you:

• $1 movies from June 25 - August 6
• Shows starting at 10:00 a.m. every Wednesday
• Great field trip opportunities - groups can purchase tickets one week in advance starting June 18 at the box office or online at participating theatres

Regal Entertainment Group is running a FREE FAMILY FILM FESTIVAL.  There are a G and PG rated movies showing every Tuesday and Wednesday at 10:00 a.m, and admission is free on a first come, first serve basis.

For another "The kids are driving me nuts and I gotta get out of here" idea, the Wrightstown Village Library is running Movies by Moonlight. Held on Fridays at 8:30 p.m., bring your own blanket or lawn chair and enjoy the following movies under the stars:

July 3rd (THURSDAY)                 Spiderwick Chronicles

August 8th                               Nim's Island

September 5th                         Speed Racer

October 3rd                             Iron Man

These are a great way to break up the boredom, get everyone out of the house, and can come in especially handy on a rainy morning.

Things Buyers Will Just Have to Overlook

My good friend Kim Brown suggested that I title this post "$%&* Buyers Will Just Have to Learn to Overlook" and add it to my $%&* series, but I'm trying to clean up my image (well, maybe just my language)...

So, my previous two posts were some tough love posts for Sellers, outlining some of the things Buyers don't give a $%&* about, and several things they DO give a $%&* about.

It's your turn for a little tough love, Buyers. Don't worry, though, I'll be gentle...

In light of the touted "Buyer's Market", some Buyers are going a little crazy. They feel that they should get any house they want, for any price they want, and the Sellers should make any repairs they want done. I've seen offers come in on properties, asking for the property to be painted colors of the Buyer's choice, and appliances to be replaced. Drunk with power, some Buyers are asking for the moon, and fully expecting the stars to be thrown in for free.

Understand that, with a typical resale purchase, you are purchasing a home as you see it, not as how you want it to be. If you want to put on a larger deck, or want the bedroom painted red to match your linens, or hate the new pink carpeting, well, those are things that you are going to have to take care of on your own. You may make adjustments to your offer price for them to see if the Seller will make concessions that way. However, submitting a list of requested "upgrades" with your offer is the wrong tactic to take.

No house is going to be everything you've ever wanted. You need to have a little vision. Don't even look at paint and carpeting, because it's the cheapest fix around, and you're going to have to replace it at some point anyway. Look beyond their brass faucets, ugly chandelier, and gaudy mural. You can update the home however you like after the purchase. Asking the Seller to update the home to your liking isn't feasible. They're not going to do it.

The Inspection Series - #5 The Septic Inspection

It's the discussion you've all been waiting for! Hold back your excitement, people, today we're talking about

Septic Systems

Fun! A septic system is an on-lot waste water disposal system, meaning everything that goes down a drain: kitchen sink, washer, showers, toilets, goes into the septic system in your back yard. A typical septic system is made up of a tank, distribution box, and drainage field. Waste water goes into the septic tank. Solids fall to the bottom, while any grease or oil floats to the top. The remaining liquid is sent into the distribution box, which then disperses it into the drainage fields or a sand mound. The water then seeps out into the soil surrounding the drainage fields or sand mound (all underground)and clarifies as it trickles through the soil to the underground water table.

Sounds gross, right?

Well, it is kinda gross if you're used to flushing and forgetting with public sewer, but you get used to the idea. As long as the system is working properly, you won't really need to think about it except to have the solids and oils pumped out regularly (Wrightstown Township requires every two years). When a septic system fails, THAT'S gross. You may see effluent on top of the ground, smell the system (gag), or have a backup in your toilets and sinks.

A good septic inspector is critical, since a new system can cost $25,000-30,000 (you read that right). I have two great inspectors that I can recommend, just shoot me an email.

Here is the EPA's Homeowner's Guide to Septic Systems. It's a great resource, and the diagram will explain the system much better than I ever could.

Have any questions? Shoot me an email. I know enough to be dangerous about different problems with the systems, alternate systems, etc.

Free Summer Fun - Ringing Rocks - Really!

Today, the kids and I visited Ringing Rocks, located on Ringing Rocks Road in Upper Black Eddy, Bucks County. What a neat trip to take! We walked a wooded trail that opened up into a field of boulders. It looks like a hidden lake - of rocks.

Armed with small hammers, the kids started scuttling across the rocks like monkeys, banging to find the ones that sounded like bells.

They really do! They sound like a bell being rung when you strike them with a hammer or small rock. My oldest quickly racked up 160 "ringers." Not all the stones ring, but here's a hint - look for the one with obvious gray areas from hammers being struck against them. They usually are good "ringers."

While scientists don't know exactly how this works, we had fun making up excuses: aliens being number one. If you go, wear sneakers. My kids had no problem scurrying over the rocks, but I seem to have lost my agility in my old age. We did take a baby stroller for my toddler, but it was rough going, and we had to carry the stroller at certain points. It was definitely workable, though.

Need more information? Shoot me an email, and I'll be happy to tell you more about it. You can find directions here, and on my GPS, I just used the street name and it took me right there.

The Inspection Series #4 -

This inspection is usually done when there is a well located on the property. You will have a water testing company come out, take a sample of your water, and test that water for potability. They'll test your water for all the nasties that may be there - choloform, bacteria, and other gross stuff. The water testing will indicate if these factors fall within safe drinking guidelines.

If the water tests come back with high levels of one or the other (or all), there are many different treatment systems available. UV light, shocking the well, filtration - there are many different ways to treat the water, and there are specialist who can devise the best route of attack for you.

Ok, so I feel like the inspection series is getting a bit dry (and boring), but stay tuned folks...

Next, we're talking about

duh, duh, duh....

Septic Systems!

You certainly don't want to miss THAT discussion! I have the unenviable title of "Septic Queen" since I've had many of my personal purchases fall through during the septic inspection. I know more about poo than any suburban girl should know, and I'm going to share the wealth of knowledge with you next time. Stay tuned for the poo talk - it's an important one.