Why You Need to Avoid Zillow When Selling in Bucks County

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As a real estate professional, I'm continually bombarded by the question, "Why does Zillow price my home in Bucks County differently?"
If we go on Zillow's website, this is how they explain it: The Zestimate is created by an automatic software process designed by statisticians, and there is no ability for humans to manually alter the Zestimate for a specific property.

To make that more clear, let's say a home is estimated to be worth $500,000. If the Zestimate is off by 10%, that's a difference of $50,000! If the home is under-priced, you're missing out on tens of thousands of dollars. If your home is overpriced by 10%, it will sit on the market for awhile, and you might have to drop the price, causing buyers to wonder what's wrong with the home.

It's been estimated that Zillow's home estimates are only right 7% of the time. That means that they are wrong 93% of the time! That is a terrible success rate.

Remember, Zillow can't take features or upgrades on your property and compare them to other recently closed homes in your area, even though doing so gives you a more updated value on your property. Zillow doesn't walk through your home, and that's where my team can come in and place an accurate value on your home.

Ultimately, if you want the most accurate price for your home, make an appointment with a real estate professional. We will go over your home and the local market data in order to give you the most accurate home value.

If you have any questions, or if you're interested in a home valuation, give us a call or send us an email. We look forward to hearing from you!

What Should You Know About Title Insurance in Bucks County?

Buying a Bucks County area homes?  Perform a full home search

Selling your Bucks County home? Get a free Home Price Evaluation

Today I’m with Robin Mancuso DeLuna. She’s the President of Cross Keys Abstract & Assurance, Inc. I’ve done a lot of work with Robin and her team, and I rely on them for their title services. We’re going to learn as much about title insurance as possible.

To start, title insurance is a form of indemnity insurance predominantly found in the United States which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans. Basically, it ensures that you’re buying the home from the proper owner, and it makes sure that there are no debts or liens against the property. You don’t want someone coming to your home years down the road making a claim to the title of your property.

So, why should a buyer obtain an owner’s policy that’s different from the lender’s policy? The owner’s policy is based off the sale price, and the lender’s policy is based off the loan amount. If you bought a $500,000 home, the owner’s policy would cover you for claims up to that amount. The lender’s policy would cover the amount of your mortgage, or about $250,000. Often times a lender’s policy is required before getting a mortgage.

 

What do you gain by purchasing an enhanced policy? This is something for the owner of the home and usually costs about 10% more, and this covers future issues like zoning or other encumbrances.

The price of title insurance in Pennsylvania is regulated. Many of the fees are regulated, and really the only thing separating Robin from others is her dedication to customer service.

One thing to know is that title claims are rare and they really don’t occur often. However, when they do happen, they can get expensive very quickly and you don’t want to finance your own defense. Robin says that what can make a big difference is the amount of research that the title company goes through. Robin has advised buyers not to purchase homes because of murky claims that could cause trouble down the road.

If you have any questions, please don’t hesitate to contact myself or Robin. We look forward to hearing from you!
 

Are You Making the Right Home Repairs?

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I'm very happy that a lot of you requested the 450 Ways to Get Your Home Sold Quickly document, and today I'm going to carry on with a similar topic. Today I have a cost vs. value report, which will aid you when you're making repairs to your home. Essentially, it will tell you what repairs bring big returns and which will net you less money back when you go to sell your home.

This report analyzes all sorts of repairs, from the Philadelphia area to more national numbers. I find this interesting because people often think that bathroom and kitchen remodels net you the highest returns, but this report says that bathroom remodels will only net you a 54% return on investment (ROI) and a roof replacement gets you about a 57% ROI.

The greatest repair they found to get you your money back was actually replacing the front door with a fiberglass door. It's important to note that these analyses are geared towards normal houses, and not investment properties that you're trying to sell. 

What all this means is that you have to be careful about where you invest your money when you're remodeling your home. Some people spend $60,000 on a kitchen and expect to get at least $80,000 out of it, but that's simply not the case. Before you go and do a major remodel, I suggest that you speak with me, so we can discuss this report together.

If you're interested in receiving a free copy of this report, please don't hesitate to contact me, and if you need assistance with Bucks County real estate, let me be your #1 resource!

450 Ways to Get Your Bucks County Home Sold Faster!

There are many great Bucks County area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (215) 519-1399 for a FREE home buying or selling consultation to answer any of your real estate questions.

 
We're having some unusually cold weather here in Bucks County right now, but we promise spring is right around the corner! 

In the world of real estate, we see the spring market as starting right after the super bowl, so we are currently in the early stages of the busiest time of year to buy and sell real estate. We've talked to a lot of people who are getting ready to put their homes on the market, so we thought we would share our 450 Ideas to Get Your Home Sold Faster! It's a 50-page guide we put together to help homeowners through the selling process. 

Virtually every aspect of getting your home prepared for selling is included in the packet. The exterior, garage, bedrooms, bathrooms, basement, entryway, hallways - you name it - everything is covered. It also comes with staging advice and helpful websites to consult. Our clients have found this to be a very useful tool to help ensure their house looks the best it possibly can. Many of these strategies are simple and inexpensive, but can help you sell your home faster and for more money. 

If you would like a copy of this handy tool, feel free to email us at Marty@MartinMillner.com or text/call us at (215) 519-1399! There's no obligation at all, we just want to help you make the most of your home sale! 

Thanks, and have a great day!

How to Avoid the Most Common Seller Mistakes on Your Home

There are many great Bucks County area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (215) 519-1399 for a FREE home buying or selling consultation to answer any of your real estate questions.

The 6 Biggest Mistakes that Sellers Can Make
In order to educate you on the changing field of real estate, I wanted to let you know about 6 common mistakes that sellers sometimes make and how they can negatively impact your real estate opportunities. As we enter the selling season here in Bucks County, I thought this information would be very important for you.

1. Overpricing: The most motivated buyers come through during the early part of the listing, and if your home is not priced correctly then you will be missing out on a potential sale. Pricing correctly takes know-how, and I know the market here in Bucks County and am perfectly suited to price your home attractively.


2. Challenges with Showing Your Home: There is nothing more frustrating than not being able to show a prospective buyer. You want buyers and their agent to be able to go through the house and discuss the pros and cons freely. If you want to sell your home for top dollar, then you're going to have to make some sacrifices like making your home widely available for showings.


3. Unwillingness to Depersonalize: You really want buyers to be able to envision their own home when they walk through yours. This means that you need to take down family photos, collections, souvenirs, etc. I have seen lots of buyers get distracted by the seller's things in the home, and this is not what the buyer should be concerned with. Neutralize your home us much as possible. 


4. Pet Owners: I love animals, but it is a really unpleasant experience when a buyer walks into a beautiful house but cannot get beyond the pet odor. Make sure to get your home cleaned and smelling fresh before you have any buyers come through the house. 


5. Unwillingness to Negotiate: Often times sellers get offers and if it is not what they want, it can be an emotional challenge for me as an agent to convince them they they're getting a really great offer. Part of negotiating is being responsive to market conditions and also being logical. It is sometimes difficult for sellers to separate emotion from logic when selling their homes. That's where an agent like myself would come in and remind them of the value of certain offers.


6. Not Making Repairs: I have seen many of my clients in Bucks County that are unwilling to make repairs, and it has caused turbulence in some cases. When you sign a contract with a buyer you will have to disclose any material defects in your property, so it only makes sense to repair them ahead of time. It also helps to know which things are worth repairing, because you don't want to spend a fortune fixing your home right before you sell it.

Hopefully you can avoid these mistakes and make a good sale in Yardley or Newtown this spring. If you work with me, I will guide you through the selling process to ensure that you do not fall victim to any of these mistakes that could end up ruining your home sale.

As always, if you're looking to buy or sell real estate in Bucks County, please do not hesitate to contact me. I am always willing to set aside time to sit down and discuss your needs.

Accurate Pricing: Using the CMA to Create Competition for Your Home!

There are many great Bucks County area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (215) 519-1399 for a FREE home buying or selling consultation to answer any of your real estate questions.

 
Accurate Pricing: Using the CMA to Create Competition for Your Home!

I was speaking with a potential seller a few days ago and they asked me about the “CMA” that they’ve heard real estate agents talking about. CMA stands for “Comparative Market Analysis” and it is a tool that real estate agents use to determine the value of your house. This is a fact-based analysis that compares every aspect of your house to all active, pending and sold homes on the market. This also includes size, location and amenities; do you have a finished basement or have you updated your kitchen and bathrooms? This factual information allows us to determine the best possible market price for your home to ensure competition and strong offers.

When I do a CMA, I look at active, pending and recently closed homes. However, I look more closely at the active homes - buyers that are looking at your house can’t buy what has already sold. In shaping the right price for your home, remember that a decision in real estate is filled with emotion.  Not only is it based on facts, there are also subjective factors that play into the overall equation. This could things like perception of light and the location of the home.

Be sure to keep in mind that realtors have already walked through most of the houses that are in the CMA. Also with the immergence of technology, sellers have access to a vast amount of information and they typically know what homes are selling for in their neighborhood. Although they probably know what the prices of the active listings are, they still have not walked through the home. This is a large distinction between a real estate agent and sellers! This allows me to provide better information to my clients in terms of correct pricing.

If you are curious about the value of your home, please give me a call and I would be happy to provide a CMA for your home. Thanks and have a great day!

It's a Perfect Time to Sell in Buck's County

There are many great Bucks County area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (215) 519-1399 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I'm going to be talking specifically about why and how our market is catering towards sellers in our Bucks County market.

Let me explain why:

• Inventory is very low as we head into the spring market.
• We have 7% less inventory than we did last year.
• With more buyers competing for houses come higher offers.
• Buyers will be frustrated, but motivated.
• If you're selling, you have a good chance to do so because the buyers we're seeing are motivated and also tired of such a low inventory. They're willing to negotiate as long as they get a home.
  
• Sellers can take advantage of this market by not only negotiating the price in their favor, but other terms as well:
• You have the opportunity to negotiate a closing date or anything else that might fit your needs the best during a sale.
  
• Selling your home is never fun, but you should take advantage of a market whose dynamics are heavily in your favor to get your home sold. By selling now, you are helping to assure yourself a smoother selling process and one that will likely go in your favor. You have a good opportunity to reduce the stress of selling, so why not take advantage of it?
• Good news for buyers: Interest rates are still low, so this should be a good incentive to buy.
• This is also good for sellers looking to buy after a sale.

If you need any help buying or selling property in the Newtown area or in Bucks County, please do not hesitate to call me at (215) 519-1399 or shoot me an email at marty@martinmillner.com