Heather's Bucks County Real Estate Blog: March 2009

I've been posting on Trulia for a few weeks now (see my profile here), and one thing I've noticed about some Realtors...

Man, they don't want to give up a paycheck, do they? 

I've seen agents claim to be experts in Philadelphia and the surrounding counties.  Not one or two counties- like ALL of them.  Now, seriously, how is that possible?

I've seen people jockey to be first to answer any post that comes up, hoping to beat all the other agents out to "get the business."

I'm a pretty smart person.  In fact, I'm probably a little vain about being "smart."  I don't think I know everything, but I'm pretty sure I can learn most things (with the exception of geometry - I'm hopeless at geometry).  I don't, however, think that I'm the best choice for every real estate need for every person out there.

Commercial Real Estate?  Not my thing.  You'll do better with someone else, and if you're in , PA, I know who you should work with.

Chester County Real Estate?  Can I do it? Sure.  Can I do it well?  Probably.  However, I can point you in the direction of a GREAT Chester County Realtor, so why take on business that isn't in my comfort zone?

Vacant Land in Bucks County? See, now this I think I can handle very well, even though I don't do many deals on vacant land. So, you know what?  I'll partner with an agent in my office with a lot of vacant land experience so that my client gets the benefit of both of our experience and expertise.

I don't believe that you need to be everything to everyone.  First, it's impossible, and secondly, you aren't doing what's best for your client if you're concerned with grabbing every opportunity, whether or not you're qualified for it.

So, what are my specialties?

• Bucks County Residential Sales (Both Buyers and Sellers)
• Bucks County Fix & Flip Property Investments
• Bucks County TLC properties for owner/occupants
• Wrightstown, PA Real Estate (Because I live here, love it, and can give you the lowdown on the neighborhood)

If you have a real estate need outside of these areas, please don't hesitate to call me.  I can probably offer some general information, and I'll certainly point you in the right direction as far as contacts who can give you more intensive help.

If I'm not the right woman for the job, I'll tell you, and I'll help you find the right REALTOR for your needs.  If you find someone who claims to be an expert in everything, beware.  Quite often, they are a jack of all trades, master of none.

Prudential Fox & Roach is having an Open House Extravaganza this Sunday 3/22/09 from 1-3 p.m.

So far, we have over 1500 houses signed up and will be held open. Go to the Prudential Fox & Roach website and click on the red box to the left to see how to search open houses. We also have a super-cool tool directly underneath (Home Tour Planner). You enter in the MLS numbers of the open houses you want to visit, and this tool will come up with a customized map for your tour.

 
But the most happening, wildly popular, open house will be held here:

www.112FairOaks.com

112 Fair Oaks Court, Newtown

$240,000

Come visit me (and maybe a few of the other 1,500 open houses) this Sunday!

1. Keep it civil. 

I wrote a post What NOT to do in a Real Estate Transactionwaaaay back in January of 2008.  I think my favorite line of that post was "never start negotiations with an opening salvo to the other party."  Look, you don't have to be friends with the other party, but keeping the dialog civil, on-task, and moving forward is going to accomplish your goals.  Once the other party hates you, it's difficult for them to remove the emotion to work through the deal.   Antagonistic negotiations often de-volve into fighting over trashcans and a $30 bathroom mirror (I've seen it happen).

2.  Learn the Serenity Prayer.  Repeat as necessary.

You can't control the other party, you can only control your end of the deal.  People have complex lives going on, with motivations, finances, and weird dynamics that you never will, nor would want to, understand.  Trying to figure out the other person, while good for hours of discussion, usually isn't very productive. Take a look at the offer, figure out how to make it acceptable to you, turn it back over to them and let them do the same. 

3.  Take the time to remove the emotion.

It's VERY typical to get emotional during negotiations.  Heck, even I get irritated when I sell my fix & flip properties.  It's ok.  It's human.  You're on opposite teams in this game.  So, while you can rant and rave about how CHEAP the Buyers are being, or how NITPICKY the home inspector was, take the time you need to remove that from your response.  Usually, by the next morning, you can look at the situation with a clear mind.  Take the time you need to think things over, because you might regret losing a workable deal by telling someone to go pound sand.   

Bucks County has seen some positive movement on the Months Supply of Inventory (the number of months it would take to sell all the homes on the market at the current sales rate).  Our December numbers were 16.2 months, which was the highest MSI (Months Supply of Inventory) we had seen in over two years.  Our January 2009 number dropped to 13 MSI, and February ended at 11.2 MSI.  Although it's an increase of 42% from Febrauary 2008, and 110% from February 2007, I'm pleased to see a consistent trending downward of the MSI since our high in December.