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Good News For Home Buyers in Newtown, Bucks County PA

By
Real Estate Agent with BHHS Fox & Roach Realtors - Newtown RS295531

I'm sure many of you have heard the reports that have come out in the last few days that sales of existing homes dropped 27.2 percent from June and were down 25.5 percent from July of last year.  Here in Bucks County the sale of single family homes is down 31.7% from July 2009 to July 2010.  Sounds horrible doesn't it?!?!?!  But this depends on what side of the ring you're in.  If you are a buyer it's great news! And sellers don't worry too much about it.  If you've been in your home for more than 5 years there's a good chance you'll make money off of the sale just look at the chart below.  Also, if you are a move-up buyer this news works in your favor.  It's simple math really. If the market is down 10% my $200k condo may sell for $20k less, but guess what that $400k single family is selling for $40k less so there's a savings of $20k! To see how interest rates effect your monthly payment checkout  Why "Now Is The Best Time To Buy" Isn't Just A Sales Pitch

 

            

The inventory of single family homes in Bucks County is up 6% from July 2009 to July 2010 so on top of more affordable prices, rock bottom interest rates, and less competition from other buyers you also have more homes in Bucks County to choose from.  It's a great time to get out there and take advantage of what many consider the best market in our lifetimes to buy a home.  Higher inventory plus less demand leaves you a great opportunity to take advantage of rates and buy that home you were dreaming about a few years ago. 

"The best investments are made before they become obvious to everyone but after the bottom begins to curve upwards.  That time is now."  Larry Flick

 

I know many folks are scared after seeing the real estate bubble burst, and think what happens if I buy my new home and then a year later it's worth less?  It's a possibility, sure, but you shouldn't be buying a home if you don't plan on being there for at least 3 years and preferably 5.  It costs money to buy and sell homes so even in a seller's market when prices are steadily rising it would be tough to break even buying and selling your home in less than 3 years.  So, this is NOT for flippers but for people looking to take control of their lives and settle down in their new home and enjoy the benefits of being a homeowner which run from not having to worry about your rent increasing year after year, paying off your home so when you want to retire you're not still forking over huge monthly payments to the simple things like being able to decorate however you want. 

 

This is NOT to say that I don't think real estate is a good investment.  Just look at the stats below over a 10 year period for our local city's.

Average 10 Year Price Appreciation by Naroff Economic Advisors

Atlantic City                              71%

Edison-New Brunswick                66%

Ocean City, NJ                          85%

Philadelphia PSMA                    91%

Trenton-Ewing                          61%

Wilmington                              59%

 

What I am saying is that your home shouldn't be looked at like a cash cow which is what got many people in trouble in the first place.  You should look at it like your grandparents did which is a solid investment that will appreciate over your lifetime, but that can also be lived in so one day you'll be able to retire and instead of spending your money on rent you can spend it on yourselves.  Buying A Home In Bucks County Pays Off  because Newtown and Bucks County Is An Awesome Place To Live

If you're ready to buy or sell your home in the Newtown, Bucks County area (or possibly do both) give me a call Dale Cosack #215-860-4067 or checkout my websites:

http://www.buckscondoking.com

http://www.thecosackteam.com

Want to know how The Cosack Team stacks up against the compettition?  Check out our stats

Want to know Why I'm The Realtor You Need In Bucks County

 

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