Andy Raffle, Yardley, PA Real Estate

What The National News Media Will NEVER tell you

(or all Real Estate is local)

There are some great sources for Real Estate news available today, I read many of them. The Wall Street Journal, Inman, RealtyTrac, just to name a few. The problem is that these sites will typically deal with the housing market on a national level and offer very little in the way of information on the local housing market. I wonder, if you're thinking of selling a home in Yardley Pennsylvania are you terribly concerned with the performance of a nationwide Real Estate market that is dominated by activity in California, Florida and Las Vegas?

What I will present in this blog is relevant data on the Real Estate market in the principal markets that I serve; Lower Makefield, Upper Makefield and Newtown Townships in Pennsylvania and Bucks County Pennsylvania as a whole.

The data in this blog will be "just the facts" to steal a phrase, because I feel there is far too little of that presented to Buyers and Sellers in the market today. If you'd like more information or detail behind some of the data, just ask. I'm happy to share it. If you'd like similar data for other market areas, I'm happy to provide that as well. This is one of the services that I provide and one of the things that set me apart from the crowd in today's Real Estate marketplace.

Remember, "I'm Working For You". If there is something more that I can do to help guide you in your decision, I am more than happy to help.

July 2008 - Market Data

Market statistics in Lower Makefield Township, for the seven months ended July 31, 2008 show some mixed results. The average price of the 157 single family homes sold this year is up 4% from the same period last year. This is a positive number, particularly when compared to national news but, the increase has declined from +16.2% in April to +11.5% in May to +3.5% in June and the July figure of +4%, which is in line with June.

Units sold year-to-date are down 28% from the 218 units sold for the first seven months of last year. The number is tempered slightly when viewed in conjunction with an 11% increase in inventory of homes for sale. The fact that homes that are not on the market cannot be sold is difficult to dispute. We are, however, seeing a slight buildup in inventory over the last quarter - having stood at plus 21.4% (over 2007) on April 30^th.

Average days on the market stands at 67, a robust number in the face of strong negative national perception, this is, however, a 10 day, or 17%, increase from the same time last year. Importantly, we're seeing a strong divergence is results in this market. We've seen literally DOZENS of homes in Lower Makefield sell within 30 days (see attached article). We're seeing other homes simply not selling. This leads me to the conclusion that you must be prepared to sell your home quickly. Or not sell it at all.

I've included in this issue my recent article on Selling Your Home in a Buyer's Market. With six proven time tested strategies to get your home sold, while others wallow. If I had to boil down the six strategies into three sentences, or bullet points, they would be:

1.)Prepare your home for showing as if it were going on a first date.

2.) Price your home to sell it where the market knows it ought to be.

3.)Market your home AGRESSIVELY so that it gets picked first (that's where I come in)

Utilizing these suggestions, along with my Six Proven Strategies, in conjunction with an understanding of the market information presented in this newsletter is the first step in assuring that you're the most informed Seller or Buyer in this marketplace. There are a few other tips that I offer below, individually for Sellers and Buyers to assure that they are at the top of, rather than at the mercy of, the current market.

Sellers - now more than ever it is IMPERATIVE to price well, market aggressively and hire the finest, most qualified representation. We are seeing multiple offers on well priced homes in this market while other, less sharply priced homes, languish and stay on the market for months. In short, if you're not working with an experienced agent like me at a great agency like Coldwell Banker Hearthside, you're doing yourself a tremendous disservice. Again, well priced, well marketed homes are selling while others languish. The days of "Passive Real Estate" are behind us, Active, aggressive agents like myself are a must in this marketplace. If you have one, you become one of the beneficiaries of a changed market, if you don't you become a victim of those same changes.
Let's discuss how I can help YOU be a winner in this market!

Buyers - This market requires informed representation to help you determine the worth of any property you wish to explore. This not a market where you can simply knock 10% off the price and make an offer. We've got a mix of well priced homes being offered by sharp agents that will sell quickly at or close to asking price (In some cases more) and properties for which a 10% discount does not bring them to where the market needs them to be. This is not a market for casual or "lazy" buyers, or incompetent agents.

Let's discuss how I can help YOU be a winner in this market! If you found this newsletter helpful, you can find even more information at my fully interactive website www.askAndyRaffle.com. You will find a library articles written by me, a fully interactive search engine to search for properties, my Bucks County Real Estate Blog and much more great information. You can also sign up there for my monthly Blog and Market Updates and refer your friends so that they too can have the most up to date, in depth information on the local Real Estate market.

June 2008 - Market Data

June 2008 data for our primary markets served (Lower Makefield, Upper Makefield and Newtown Townships in Pennsylvania) showed a somewhat mixed bag with our area still outperforming the national market as portrayed by reports in the national news.

Taken as a whole, average sale price for the six months in the three markets are down just over 5% versus 2007 with Lower Makefield (plus 3.5%) still performing above the midline, even after a downturn in the month of June. Upper Makefield (down 8.5%) and Newtown Township (down 6.5%) are in negative territory, largely due to the number of homes in upper price levels that are affected by tightened availability of Jumbo financing.

Units sold YTD are down 17% in the three markets with all three markets showing slower year to date sales.

Inventories of homes available for sale are up a minimal 4% or 20 units. Lower Makefield again shows a drastic decrease in the number of homes available for sale with a 19.5% (45 unit) decrease in homes available for sale. Lower Makefield still merits close attention as the decrease in the number of homes for sale is nearly identical to the decrease in the number of homes sold and prices are UP 3.5%. It is certainly a fair interpretation to say that homes not offered for sale cannot be sold but, homes sold versus homes offered for sale are consistent with 2007 and prices are up slightly at 3.5%. It is my belief that this is largely impacted by The New York/Princeton commutability of Lower Makefield along with the top range of sales prices trending lower than the other two markets, resulting is less call for difficult to obtain Jumbo Financing. Newtown and Upper Makefield will be greatly affected by financing availability as buyers of homes in the ultra high price ranges almost need to be "cash buyers" at this point.


Average prices of homes for sale are up in all three markets. Average increase in asking price in all three markets is 11%.

In neighboring Northampton Township, we're seeing a relatively flat year over year price change of -1.1%. Of concern in Northampton is the large decrease (30.2%) in units sold and rising (+14.1%) inventory levels.

For Bucks County, as a whole, prices were down a modest 4% even in the face of a 21% decline in sales. Inventories are up 5% and list prices are up .6%. It is clear that, while the market has lost some of its steam from previous years, the gloom and doom presented in the national marketplace has not come to our area.


Sellers - now more than ever it is IMPERATIVE to price well, market aggressively and hire the finest, most qualified representation. We are seeing multiple offers on well priced homes in this market while other, less sharply priced homes, languish and stay on the market for months. In short, if you're not working with an experienced agent like me at a great agency like Coldwell Banker Hearthside, you're doing yourself a tremendous disservice. Again, well priced, well marketed homes are selling while others languish. The days of "Passive Real Estate" are behind us, Active, aggressive agents like myself are a must in this marketplace. If you have one, you become one of the beneficiaries of a changed market; if you don't you become a victim of those same changes.
Let's discuss how I can help YOU be a winner in this market!


Buyers - This market requires informed representation to help you determine the worth of any property you wish to explore. This not a market where you can simply knock 10% off the price and make an offer. We've got a mix of well priced homes being offered by sharp agents that will sell quickly at or close to asking price (In some cases more) and properties for which a 10% discount does not bring them to where the market needs them to be. This is not a market for casual or "lazy" buyers, or incompetent agents.
Let's discuss how I can help YOU be a winner in this market!

Be sure to check out www.askAndyRaffle.com, my fully interactive website where you can search thousands of properties, read many real estate articles written by me and see many of the services that I offer.

A Perfect Bucks County Afternoon

July 14, 2008

If I keep talking about how much I love Bucks County are you all going to be jealous?
I sure hope so! It's a great place to live and I'd love to help you find the home of your dreams right here in Beautiful Bucks County.
Friday was a great day. We packed a picnic and headed up to Solebury Orchards http://www.soleburyorchards.com to pick some raspberries and fresh flowers before making a stop at the Sand Castle Winery http://www.sandcastlewinery.com to see our friends Joe and Magda Maxian.

I'm not sure what it's like in your family but, when the Raffle's go berry picking, the baskets never seem to fill up. Chris and I set up for the wildflower patch leaving the girls to handle the berry harvest. Andrea, my oldest, was determined to bring some berries home with her but, her sisters Alicia and Acacia were far more interested in picking in what I call the "needle point fashion" (pick one, eat two). In the end, we left with a couple of quarts of raspberries and a quart of blueberries and a couple of nice bunches of wildflowers; one for home and one for Magda Maxian at Sand Castle.
We headed to Erwinna to stop by and say hello and, of course, taste some wine. At Sand Castle, their credo is the Latin phrase "In Vino Veritas" (In wine, truth) and no truer people than these can be found anywhere that I know of. Immigrants from Czechoslovakia (Joe likes to say Transylvania), Joe and Magda have 72 acres under vine and a beautiful Castle where my three daughters seem to be planning to be married (not so fast, I hope). Chris and I have been visiting Sand Castle since before we were married and, in fact, served their wine at our wedding in 1992 (pre-castle). We visited, spent some time as the children explored the vineyard, took a "bucket ride" in the tractor and looked over the river and the valley below and packed a "take out" package in the car before heading out to enjoy our picnic.
We drove down the river to Washington Crossing State Park and enjoyed a light picnic of chicken with some cheese and, of course, berries as we watched the "tubers" float down the Delaware. After some time enjoyed in the park, it was time to return home for some time on the pool deck along with some of our Sand Castle purchase.
All in all, a perfect Bucks County day and one I look forward to repeating time and time again.

Happy Independence Day!

"You have to love a nation that celebrates its independence every July 4, not with a parade of guns, tanks, and soldiers who file by the White House in a show of strength and muscle, but with family picnics where kids throw Frisbees, the potato salad gets iffy, and the flies die from happiness. You may think you have overeaten, but it is patriotism." - Erma Bombeck

I could not agree with Mrs. Bobmbeck more, and who am I to argue with Erma Bombeck, anyway? Even on a dreary overcast Holiday weekend, it's easy for me to count my blessings, not only for living in a great country but, also for living in a great community. I love Lower Makefield Township and I love Bucks County Pennsylvania. I'm a transplanted New Yorker, my family came to Bucks County in 1972 when I was 9 years old, and I've stayed here ever since. Brooklyn born, Bucks County offered quite a change of scenery and a new environment that took some getting used to but, after having spent the past 36 years of my life here, I have no plans on ever living anyplace else.

The good news is that unlike many people who find their paradise and then look for a way to lock the door, I'd like to help you to join me in Bucks County, preferably the Yardley/Newtown area, where I live but, all of Bucks has so much to offer that your present community might not. Where else can you be within 90 minutes of Manhattan, 30 minutes of Philadelphia and 20 minutes of Princeton all while having the local farmer as your neighbor and friend? Where else can you enjoy the beautifully meandering Delaware River and all the scenic and recreational opportunities it offers? Where else can you enjoy art museums, theater, entertainment and nightlife or choose to just sit in your yard and watch the deer come out at sunset? Where else can you choose to live in a newly built home or the one right next door where George Washington may well have slept? Speaking of George Washington Bucks County was the staging area for the final battle at Trenton and here, in Washington Crossing, many of the buildings still stand.

My wife Chris and I have raised our three children here in Lower Makefield and we could not be happier. The Pennsbury School District is widely recognized as a terrific school system and the educational and extra-curricular offerings are unparalleled.

I invite you to spend a day in Bucks County with me. Let me show you all that our area has to offer and help you to find the house of your dreams. I'm certain that you'll be as happy as I am with this incredible area.

May 2008 - Market Data

May 2008 data for our primary markets served (Lower Makefield, Upper Makefield and Newtown Townships in Pennsylvania) showed continued strength even in the face of ever increasing negative national news. Taken as a whole the three markets are down a fraction of a percent versus 2007 with Lower Makefield (plus 11.5%) and Upper Makefield (plus 3.5%) in positive territory while Newtown Township shows a slight decline of 3.5%. Units sold in Newtown Township are steady with 2007 figures while Lower Makefield (down 24%) and Upper Makefield (down 47%). Inventories in Lower Makefield are down 17% while Upper Makefield (+14%) and Newtown (+19%) are up.

Lower Makefield is showing particular strength with increased prices and decreased inventory, even in the face of slower sales. This market has been trending this way for the entire year and seems to be leading the way forward, particularly in the $450,000 to $800,000 range. The higher priced range seems still affected by the vastly tightened Jumbo Mortgage lending market (much of the reason for the data in Newtown and, especially Upper Makefield) - although signs of loosening have been appearing. Also of note is that the lower end of the market has very little in the way of either sales or inventory. It appears that there is reluctance, likely brought upon by a barrage of bad news in the press, for these "trade-up" buyers to market their homes. Our suspicion is that this market will again open up causing more demand for the $450-$800 price range and adding increased stability and activity to the marketplace.

For Bucks County, as a whole, prices were down a modest 3.3% even in the face of a 20% decline in sales. Inventories were up 5% and list prices are up 1.5%. It is clear that, while the market has lost some of its steam from previous years, the gloom and doom presented in the national marketplace has not come to our area.

Sellers - now more than ever it is IMPERATIVE to price well, market aggressively and hire the finest, most qualified representation. In short, if you're not working with an experienced agent like me at a great agency like Coldwell Banker Hearthside, you're doing yourself a tremendous disservice. Well priced, well marketed homes are selling while others languish. The days of "Passive Real Estate" are behind us, Active, aggressive agents like myself are a must in this marketplace. If you have one, you become one of the beneficiaries of increased prices; if you don't you become a part of the increased inventory.

Buyers - This market will be won by well informed, well represented Buyers and Sellers. The age of the part time Realtor is over. If you have "a friend of a friend", this is NOT the time to get to know each other. I work with local Buyers and those relocating from all areas of the country. Call me today to discuss your discuss your Real Estate needs.

Be sure to check out www.askAndyRaffle.com, my fully interactive website where you can search thousands of properties, read many real estate articles written by me and see many of the services that I offer.