I'm concerned about selling our home in Doylestown because of what I'm hearing on the news.

Asked by Bill Davis, Doylestown, PA Fri Mar 6, 2009

Can someone give me the real scope on what is happening in Doylestown real estate. I've got a large 4200 sq ft home off Cold Spring. I don't mind if the house stays on the market a while, but I don't want to take a huge beating. Any recommendations on realtors who REALLY know that area?

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Jeff K, Home Buyer, Bristol, PA
Thu Mar 12, 2009
Hi Bill,

I think that you've gotten a lot of good advice here. Especially as to "it's not to your benefit if it sits on the market" and "don't over-price it". I had overpriced my last house to start - and while I did figure this out quickly (not one offer in 3 weeks - not even a low ball one), the market was changing so quickly that I was 4 weeks behind it to start. Bottom line is that I lost about $20K vs. pricing it correctly to start but fortunately still did quite well - this was 2007. I have no idea what your specific situation is though.

I would guess that you may have seen some recent Sold Prices in your area for comparable homes. If not, you can do that right on Trulia. But, it's also worthwhile to do that at a Realtor's office - where they have access to the full Trend database - and you can trust the settlement dates and numbers.

At least knowing this would provide a reasonable initial gauge as to what the market will bear right now. If these numbers are in alignment with your needs then you are blessed and you can stage, price it accordingly and you have a good shot.

If the recent comparables are slightly less than you'd like, then consider that a minor loss on your sell can be worth it also. It may well be well-compensated for when you are the buyer - wherever you are planning to go. Other factors can play into this also. Perhaps your next house is nearby but with lower property taxes and isn't an "earned income" municipality (But still with excellent local schools). If you are staying local then there are a fair number of places in Lower Bucks that fit this bill.

If the potential loss is nasty ... well then it's really hard to provide useful advice. And it's of little consolation to ask, "gee can you keep the place for another 2-3 years".

You may even wish to consider if FSBO makes sense for you. These days you can "FSBO", be on the MLS and Realtor.com - and still offer 2-3% to an agent that brings you a buyer. If YOU find the buyer - ok great then you have that much more negotiating room to play with.

Best of luck to you. If all goes well for me, I'll shortly be joining the growing list of people that are leaving NJ for PA and am looking forward to it.
1 vote
Gita Bantwal, Agent, Jamison, PA
Sat Mar 7, 2009
Bill, You have received good advice from agents . Price it right. You will get the most showings when it is newly listed Use an internet savvy agent . Most buyers start their search on the internet. Interview 3 agents and choose one who has the best marketing plan . See if the agent will give you a guarantee that you can cancel the contract if you are not satisfied. or give you a shorter term. Doyelstown is a great place. I have written several blogs on why people love living in Doylestown. Somehow many people from NJ relocate to Doylestown. They like the fact that they are not too far away from NJ. With first time buyers ready to buy , you will see move up buyers looking to buy and yoyr home is perfect for the move up buyer.
visit my web site http://www.gitabantwal.com and look up 1000s of listings in Doylestown .You can do a map based search as well.
Web Reference:  http://www.gitabantwal.com
0 votes
Renee Porsia, Agent, Newtown, PA
Sat Mar 7, 2009
Hi Bill,

If you don't want to take a huge beating, don't over price your home when you list it. What most sellers do not want to understand or hear is that the longer a home sits on the market, the lower the offers will be. When buyers see a home sitting on the market for 60,90,100 days and in this market 200 to 300 days, the buyer thinks there must be something wrong with the home. If the home is a great home and priced right then why oh why is it stil on the market? What is the answer to that question?

The answer is that its over priced. The best strategy is to hire a Realtor who knows how to get your home sold, is honest and is an expert negotiator.

If a Realtor comes into your home and shows you comps of other similar homes in your area that have sold most recently for a certain price and tells you a price that they feel is the right price but then you insist that your home is the be all end all of the neighborhood and insist that the Realtor is wrong and bully them into listing at a much higher price, that will be a relationship destined for failure and it would also indicate to me that that Realtor is not an expert in negotiating because if they can't even negotiate with you in getting you to see why the home should be listed at a certain price, what do you think will happen when the time comes to negotiate a buyer's contract?

Your best bet is to interview a few different Realtors and ask questions. There are a million Realtors out there who will tell you exactly what you want to hear. You need to find the one who is honest and not afraid to walk away from you.

I do not believe in lying to my clients. If a home owner is unrealistic about their home, I will not take the listing. In the end its better off for you and if I did take the home at an unrealistic price, I would be doing a disservice to you.

I am extremely familiar with Doylestown and would love to talk with you further about your situation.

Feel free to e-mail me or give me a call at (215) 669-0589.

Renee Porsia
Associate Broker
(215) 669-0589 Direct
(215) 358-1100 Office ask for Renee
0 votes
Frank Dolski, Agent, Lahaska, PA
Fri Mar 6, 2009
This is the primary area where I do the majority of my business and I have been very successful in moving properties in the majority of the subdivisions in the Cold Spring Creamery corridor. This includes the Ridings of Buckingham, Hearthstone, Cold Spring Hunt, and areas on the 263 corridor such as Buckingham Forrest, Devonshire Estates, Bridge Valley at Furlong, Windsor Square and more. Each subdivision has specific differences but his is a broad picture of Buckingham alone with settled listings within the past 6 months:
* Priced from $420k-$900k
* 0-15 years old
* Single family homes

64 active listings, 99 days on market, average list price is $661k
5 pending listings (2 are mine), 64 days on market, average list price is $608k
22 settled listings, 103 days on market, average sold price is $640k (list price to sold price ratio is 92.48%)

*Information gathered from TREND MLS

It varies in each subdivision and it depends on location, amenities, lot, condition, curb appeal, painted, landscaped, staged and the general condition of the home. My recommendation is to take the time to have an agent stop over and give you a free comparative market analysis. I would be more than happy to do so at no obligation or answer your questions either via email or by telephone. My career and track record speak for itself and I'd be more than happy to assist you.

Frank Dolski MBA, ABR, e-PRO
CARTUS Certified Relocation Specialist
Coldwell Banker International President's Elite Member in 2006 & 2007
Coldwell Banker Hearthside Top Producing Agent for all offices in 2006 & 2007
215-803-3237 (cell)
215-794-1070 x103
0 votes
Linda Dutton, Agent, Lahaska, PA
Fri Mar 6, 2009
Hi Bill, The real estate market in Doylesyown has performed better than some other areas in the county. Right now along the Cold Spring Creamery Road corridor there are 19 active listings in the various communities. There have also been several homes going pending. Recently, I am noticing that Buyers are looking at price per square foot because this is a tangible number that they can reference against other homes. Once you make a commitment to sell your home you need to talk to several Realtors and then once you have selected your Realtor take their advice. Listen to their recommendations on pricing, preparing your home for showing, staging, repair work that may need to be done and key is making it easy to show. A home sitting on the market typically yields a lower price. Also, be prepared to have the For Sale sign up for a few months. Don't be discouraged and look to your Realtor for advice. I would welcome the opportunity to discuss marketing your home with you. Regards, Linda Dutton
0 votes
Brian Hicks, , Doylestown, PA
Fri Mar 6, 2009
Bill-I think first you should be concerned if your house "stays on the market a while". It's like an odometer on a car, the longer it runs the less valuable it becomes! Even in the Doylestown market, which is where I specialize, a home that is not priced correctly will not sell timely. Yes, we have not seen price drops like other areas of the country, but we are basically back to the year 2006 and earlier. If you want top dollar for your home, price it right and the RIGHT buyers will come! Given, we are in a major recession, but homes are selling! For a cutomized marketing plan, I reccommend you allow my local knowledge and experience of Buckingham and Doylestown to create one for you and to show you how we can make a difference!

All the best,
Brian Hicks
Prudential Fox & Roach
Web Reference:  http://www.BucksHomesR.Us
0 votes
Judi Wolfson, Agent, Margate, PA
Fri Mar 6, 2009
Hi Bill,

We encourage our sellers, to be aware of the market conditions, but NOT to panic and to allow enough time to find the right buyer for you home, so our philiosphies are the same, which is very important with whatever Realtor you shoudl choose.: We specialize in the Doylestown area and own the territory with one of the mostsuccesful on-line marketing company. Two ouit of every 3 leads we receive are for the Doylestown area.

Now let me just give you a few reasons why you may wish to contact us.
1. We own the website and domain name for DoylestownHomes-forSale.com
We receive multiple requests EVERY DAYS for Doylestown, specifically from this domain.
2. We are a team of agents that are all FULL TIME and we have taken SPECIAL advanced courses in "negotiating" so we are trained and experienced in getting the best possible price for our clients.
3. One of our senior team members, Rob Wolfson, has lived in the Doylestown area for the past 14 years.
4. We are hear to answer all your questions and we have a very aggressive marketing plan for your home, including a specific website for YOUR HOME ALONE, in addition to it being the "featured home" on numerous other websites that we own.
Just give us a call if you'd like to consider our services. 800-339-5834.
Looking forward to hearing from you.
P.S. Our DIRECT toll fee phone number brings may buyers to call us FIRST when thinking of buying a home
0 votes
Kathleen Lor…, Agent, Baxter, MN
Fri Mar 6, 2009
The longer a home sits on the market the more stale it becomes. Buyerz assume that there is something wrong with it and agents may direct their clients to a hotter listing just of the press. That said - you need to come out with your guns blazing. This property needs to be prepared for the market by a professional home stager and priced to sell- from the start. Buyers have a lot of inventory in most markets and are looking for move in ready, up dated properties, especially with the larger more higher priced homes. I can not advise you on your market as I work in Minnesota with luxury lake homes and the more modest residential properties. We use the same formula for all of them which I detailed above.
Web Reference:  http://topbrainerdagent.com
0 votes
Carol Cei, Agent, Maple Glen, PA
Fri Mar 6, 2009
Hello, Bill,

It appears that you need to work with someone who clearly understands value. The analysis has to be all about what similar sized homes have sold for in the previous 6 months. The inventory vs. Supply and Demand also must be analyzed. That is how you can determine the most accurate price for your home.

When I do relocation appraisals, this is the type of information that I have to provide in order to secure an optimal listing/selling price for a 120 day deal. You may be willing to take a little longer, but I warn you, just letting your home sit on the market for 6 months is not really a good plan.

If you would like to have a conversation about your neighborhood values, marketing strategies, and exactly what it takes to get a home sold in today's market, let me know.

Carol Murray Cei
ReMax Millennium
0 votes
Tina Walsh, Agent, Doylestown, PA
Fri Mar 6, 2009
Hi Bill That's a good question. There are several factors that should be involved in your decision. First, the Real Estate market as reported on the news is not always relative to where you live. It is my understanding that the "Philadelphia Metro Area' is one of the best markets in the Country. If your home is priced properly, marketed properly, and shows well, it should sell within a reasonable amount of time. On the other hand, there are alot of homes to choose from so buyers can afford to be more "picky". This can be a good thing for you if you will be purchasing another home here or somewhere else. The interest rates are also very favorable right now if you have good credit! Call or email me anytime to discuss! Have a great weekend.

Tina Walsh, CRS, ABR, e-PRO
Class Harlan Real Estate
15 W State Street
Doylestown, PA 18901
http://www.PAHomeShop.com / Tina@PAHomeShop.com
Web Reference:  http://www.PAHomeShop.com
0 votes
Neil and Kat…, Agent, West Chester, PA
Fri Mar 6, 2009
With all the news I can fully understand your concerns in selling at this time. As I am sure you are also aware by your question you also realize that real estate is a very geographic commodity even down to the particular neighborhood a home is located in. My highest recommendation in a local Realtor for you to speak to in your area that will tell you the truth and fill you in on the real scope of what is happening in your specific neighborhood is, Chris Nisbet who is an associate Broker with J.C. Molloy. Her contact number is Preferred Phone: (215) 348-3558 Ext117.

0 votes
Russell Volk, Agent, Bucks, AL
Fri Mar 6, 2009
Hi Bill,

The truth is, the market is not what it used to be, but the houses are still selling. The bottom line is, people will always need to move, for whatever reason. Yes, the prices are lower than in 2005, but the Doylestown market will always be in demand because of schools and being centrally situated within the county.

Sounds like you have a large house, which means that the price will be higher than average. In Bucks County, homes in the $200K - $300K price range sell quicker. More people are looking for cheaper homes, because they don't know which way the market is going to go. Homes above $300K/$400K tend to sit on the market longer. It's not uncommon to see a million dollar home sit on the market for a year or two. But there's a buyer for every house. The job of a Realtor is to find that buyer.

Just make sure that whichever Realtor you decide to go with, that he/she comes up with the most "optimal" price. Price it according to market or just a bit below. House must be in top shape. Internet marketing is a must. Your house is a product that needs to look good and advertised appropriately.

Hope this helps and answers some of your questions.

If you wish to see all homes for sale in Doylestown, please follow the link below on my website.

If your house is under 10 years old and located in a subdivision, let me know, I have a couple who's looking in that area. My contact information is on my website.

Take care,

Russell Volk
0 votes
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