Heather Oberhau, Bucks County Real Estate, e-PRO

Bucks County Buyers are coming out of hibernation, and they're motivated and looking for the deals.

Ok, this is purely a non-scientific observation. In the past week, my personal client base has blossomed. I'm now working with three serious Buyers who weren't looking last week. I feel energized, and excited, and I'm thrilled to be on the hunt again.

The New Year brings about more than resolutions, starvation diets, and gym memberships. The holidays are over, people are doing their taxes, examining what they want for the coming year, and are motivated to make changes in their lives. On top of this, the lure of low interest rates, tax refunds, lower prices, and more inventory only sweetens the deal for Buyers in this marketplace.

I've always used Superbowl Sunday (Go Iggles! :) as my personal benchmark for when our selling season starts to heat up. It's when I feel the energy of the market pick up, and usually see an increase in my business. I was concerned that this year might be different.

It doesn't look like it. Although 2008 was a difficult year for many, it was my second best year in the business. Early indicators look like 2009 may follow suit.

There is value in this marketplace, and Buyers are looking to take advantage of that.

My Dad always counseled us against buying a car in the rain. Seems he did it once, and although he's a meticulous man, the next day, dings and dents became apparent. We recently bought a car on a rainy day, and you know what? The next day, we found some dings that we had missed.

As winter approaches Bucks County, and our days get significantly shorter, please be cautious about looking at homes at night after work.

From a practical standpoint, it makes it almost impossible to actually see the lot. Since location is the hallmark of real estate, the lot the home is on is almost as important as the home itself. Additionally, it's sometimes difficult to access the property (see my icy driveway post).

As for the interior of the home...

If the Sellers were smart and left the home well lit:

You know how everyone looks hotter by candlelight? It softens the wrinkles and adds a glow to the skin and a sparkle to the eyes. That's what your getting with a warmly lit home. Cracks in the drywall, funky floors, dinged appliances - they'll all be softened by the glow of lamps. What is obvious under the glare of natural light can be missed at night. Also, you need to make sure the the home DOES get lots of natural light during the day.

If the Sellers (I'm looking at YOU Mr. Banker) have left the home dark:

Well, I probably don't have to go any further with this. If you can see it, you can't buy it. Duh.

My recommendation is this: you should always do a second showing on a property you're thinking of purchasing. If the first was done in the dark, make sure the second is in full daylight.

Oh, and never buy a car in the rain.

With the increase of Bank Owned Properties on the market right now, I send a plea to Mr. Banker...

Please, for the LOVE OF GOD, shovel your walkways and driveways.

And it wouldn't hurt 'ya any to buck up for some, let's say heat and electricity.

I set up showings for two bank owned properties that have been on the market for 90 and 185 days. The first property had no heat, and while my clients and I walked through with our breath puffing in the air, let's just say this: my clients weren't inclined to linger. We walked back to the gorgeous in-law suite only to find that the electric to that part of the house had been turned off. We think there was a jacuzzi in the completely dark bath. We're not sure.

As we entered the driveway to the second home, my truck slid sideways on the iceslick of a driveway midway up the hill to get to the home. My clients had made it to the top of the hill, but couldn't come down because I had closed off the driveway. I abandoned my truck and soldiered on up the hill, only to have my client wipe out getting out of his car and yelling down to me to forget it. There was no electricilty on - at all - at this house, so we couldn't see anything anyway.

It took me around 10 minutes to get my truck out of the driveway without sliding into a busy road, and I only did so by driving in a ditch and having pine trees rake the side of my car. I then had to park on the shoulder of the road with my hazards on and tell my clients when the road was clear, since they anticipated sliding down the drive into the road without being able to stop the car.

Since we haven't had any snow or ice since last week, I guess it's been that long since anyone, including the agent, had checked on the condition of the property.

Look, I get it. You're trying to minimize your loss. However, you're still allowing the house to be shown. In theory, you're still trying to attract a Buyer. All the basic tenets of showing a property still apply - even to bank owned properties. Lights are necessary. Access to the home is necessary. If you want people to actually take the time to look at the home, HEAT is necessary in the middle of winter.

Give me something to work with, and maybe I can actually sell your home. Whatever your pay for the minimal expense of basic courtesies for the Buyer will surely be outweighed by a shorter marketing period.

Through the magic of Facebook I've been reconnecting with a lot of girls from high school (I went to an all-girls high).

Carmella is a high school friend who now works with Mortgage Mobility. I asked her a few questions I thought were on everyone's mind:

Hey, when can I score that 4.5% interest rate I keep hearing about?

Looks like the end of January beginning of February. Right now it looks like its just going to be on purchases. They are working on it for refinances too.

1. Is there going to be any restrictions on income - either too much or too little? How about my credit score?
3. You will need at least a 660 credit score if you are not putting down at least 20%. There are no restrictions on income, you just simply need to qualify.
4. What can I do right now to lower my existing payment?
5. The only thing really to do to lower your payment is to refinance to a lower rate than what you currently have.
7. Can you show me what the difference might be in my mortgage payment?
9. Well today's 30 yr. fixed rate is 5.375%. On a purchase price of $200,000 with only putting down 5% your principle and interest payment would be $1082.56. On a $200,000 going FHA your payment would be $1151.94. That figure is principle and interest only. With 3% down. FHA rates today are 5.75%.

****Special footnote - Carmella wrote these answers on 12/12, and when I checked in with her yesterday the rates had DROPPED and the 30 yr fixed rate is 5% today and FHA is 5.5%.

I'm in danger of going into foreclosure. Help! What should I do?

Call your current mortgage company to renegotiate. They will help you. They do not want your house. They will help you by either lowering your interest rate or give you deferred payments for a couple months until you get on your feet.

There's so much happening on the mortgage front that I would really encourage you to call Carmella and talk about your options. Purchase or re-finance, you may be able to score a GREAT mortgage rate.

Here's Carmella's contact information:

Carmella McGonegal

Mortgage Consultant

Mortgage Mobility

Office#267-544-4000 x133

Cell# 215-901-8083

Once again, Santa (and perhaps Mrs. Claus if we're lucky), will be touring Wrightstown, Pennsylvania on December 20th, courtesy of the fabulous members of the Lingohocken Fire Company.

You can find his tour schedule here.

Seeing Santa come by on the fire truck is one of my favorite memories of Christmas as a child (ok, honestly, probably second to the PRESENTS). There is something just so exciting about the lights and sirens and the neighbors all clustered outside cheering.

Last year, Santa's ride came to us as a surprise. We gave Santa, Mrs. Claus, and their helpers warm water and frozen Christmas cookies.

This year, we'll be sure to de-frost the cookies and chill the water.

Look for us, Santa! We'll have snacks.