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Archive for the ‘Village’ Category

Being a real life real estate agent is nothing like what you see on HGTV or NBC Open House NY. In real life these are the shoes we wear to show our listings. 

I took a walk at lunch to enjoy the bay and last of the snow for now before it thaws out later today and tomorrow!  Of course my girl was with me!

Houses are selling even in this icy weather. If you are thinking of making a move call me and don’t wait for the spring market. Sellers are getting top dollar. 

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seksun-guntanid_446847097-1024x454According to the American Banking Journal the Feds are going to cut mortgage insurance premiums again saving the average FHA borrower an average of $500 per year!  Read the full article here : ABA Journal.  Hopefully this will continue to increase our expectations for the 2017 market!  This change takes effect on loans closed after January 27th 2017 and the expect to save 25 basis points on the insurance premium. This Market Watch article really explains FHA loans and why the FHA is passing along these savings.  They are expecting $1M home buyers to purchase using FHA backed loans this year.  I can say the majority of closings I see here in the office are FHA backed loans.  Here’s to another interesting year!  I ❤️ Real Estate.

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I recently earned my SRS designation with the National Association of Realtors (NAR).  A SRS designation means that I have taken the courses and provided enough past history of client relationships to earn the title of a “Seller Representative Specialist” or SRS in short.  There are many reasons that a seller should list their home with an agent that not only cares about their best interest but has the knowledge to implement that in the current market conditions.  Here are some bullet points;

  • members of an elite group of trained seller advocates
  • concentrate our efforts to ensure you the seller are at the center of the sale
  • understand that negotiation skills are critical to the success of your transaction
  • adhere to the highest level of professional ethics and business practices
  • uniquely qualified to exceed your expectations and yield your trust
  • have an advanced level of understanding on how to collaborate with a variety of cooperating agents of all skill levels to ensure that the ‘best’ buyer has an opportunity to purchase your home.

There are several ways to hire an agent to represent you in the sale of your house.  The most common is an Exclusive Right to Sell which can be marketed in two ways;

  1. First the listing is held as and “office exclusive” where they do not invite cooperating brokers and the exposure is limited to the listing agents marketing efforts.
  2. In the second scenario the listing is shared through the Multiple Listing Service where the listing agent invites cooperating agents from all the MLS offices to participate in the efforts to find a buyer for your home.  In this case the listing agent communicates with the cooperating agents while you deal directly and only with your agent.  The listing agent has a fiduciary responsibility to work in the best interest of the seller.

If you are selling your house, it is beneficial to have your home marketed and exposed to every potential buyer.  The best possible outcome for a seller when presenting their home for sale is to have multiple offers from which to choose. They should then utilize the skill of their Realtor® to help review which is the best and highest terms for you.  This is why you hire a professional Realtor ®,  it definitely makes a difference.

Give me a call when you are ready to sell your home.  I have my E-Pro Certification AND my SRS Designation and I have your best interest at heart.

  • srs-designation

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Click 7 Tips for First Time Homebuyers  Here for Full Coldwell Banker Blog Post Screen Shot 2016-06-15 at 1.16.52 PM

This is rapidly becoming a sellers market.  If you are a first time home buyer you need to educate yourself in order to be competitive with your peers in seeking your first home.  This article in which I am quoted gives you some helpful tips.  Better yet, hire “Buyers Agent” to help you navigate these unchartered waters.

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View from Amityville - Great South Bay, October 29, 2014 Photo Courtesy of Loretta Del Vecchio WeberPhoto courtesy of Loretta Del Vecchio Weber, 10/29/2014

As a realtor in an area devastated by Superstorm Sandy everyone asks the same questions, “So how’s the market? Are houses selling?” and the truth is that it is a tricky and ever changing market to be involved in. Emotions are raw and for every one household that is home and put back together we hear 10 other horror stories of people unable to get the funds to fix their homes. The media coverage is showing empathy for the Sandy Survivors but little is actually being done to speed up the process of the rebuilding of the South Shore.

Home values here in the 100 year flood plain remain depressed. Statistics from the National Association of Realtors show slight increases in sale prices but this really is not so for our local real estate. Zillow “Zestimates” are so far off for our area, the system simply averages sale prices of homes that have sold over a period of time while not taking into account the homes that have sold “as is” meaning storm damaged.

Many people filed a form with their towns stating that they were 50% damaged. The form was filed with the intent to get some tax relief for the time a home spent vacant and inhabitable or to secure a $30,000 ICC grant to get additional money to lift a house for the short period of time it was offered. Unfortunately, if people have filed this piece of paper they are now red flagged and must bring their home to current codes in order to get a Certificate of Occupancy. This means they must lift or demolish and/or build new. There is such a lack of continuity in the NY Rising Program and the SBA program. Homeowners are buried under paperwork and are signing papers that may have serious repercussions later in time, everyone should read what is written in the small print.

Facebook groups have formed to support people that just can’t get answers and are still struggling. Without these groups a majority of the information would still remain unclear. Sandy Support,Massapequa Style and Adopt A House have had and continue to have a tremendous impact on sharing and getting the correct information out to the public. Beth Ann Huff Henry and Michelle Insignia volunteer to moderate and help so many people.  Without their services, and those that support their sites along with their own support staff, many people would have questions still unanswered.

So, to answer the question of how today’s market is doing two years after Sandy I give you the following example.   I took a listing 2 weeks ago. The home is located in Copiague Harbor. The home is “as is”. The funds offered for repair of the home are not enough to repair it. The family, a mom, dad and a young girl and their dog have been living in a one bedroom apartment for over two years while they fought to get the money to return home. 2 weeks ago the decision was made to move on and give up the fight. The home is now listed “as is” and will be a short sale as well.  Let’s turn to the opposite end, to people that have knocked down and built new.  Many quite possibly were at the top end of their budget when purchasing the home that was previously destroyed.  Now, forced with being homeless or securing any funding possibly they have managed to rebuild their homes.  We will now have higher accessed taxes on these homes.  Will the family now be able to financially support the old mortgage, new loans, and higher taxes?  Will these homes eventually have to be sold or be lost to foreclosure because people made emotional financial decisions under duress? There is no simple, accurate answer.  Each case is individual but the after effects of Sandy and what it is doing to our real estate market will be consistently changing.

Realtors are struggling to pay bills as homes are not moving quickly. The extended education and increased knowledge of flood plain levels, flood premiums, and the increased complexity of obtaining CO’s have made an already tuff market even more difficult to work in. The storm was two years ago and the after effects are sure to go on for quite some time. As I walk my boys to their bus stop in the morning I see tyvek wrap flapping in the breeze and houses that are vacant and dilapidated in my 2 block trek. There is an awesome video done by a young girl that shows her journey and is representative of what is going on now, 2 years later. Her name is Caity Donnely and this is her video  Be careful, tissues will be required!

If you are thinking about moving or buying or just have general questions please make sure you speak with a Realtor that knows about what is going on. All of the rules stay with the house and a new homeowner may be required to bring the house into compliance even if you did not own it at the time of the storm! My advice is to be knowledgable in what and where you plan to purchase or sell.  My advice for those that were not affected by the storm, please be compassionate. It is not over for so many.

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Are you thinking about selling but want to wait until after the holiday season?  

Here are some great reasons not to wait!

*There is less competition for buyers!

*People out looking in the freezing cold and snow tend to be serious about a home purchase.

*Because there is less competition you may get more money!  Less to choose from = less negotiating.

*Your home is usually decorated and comforting with holiday smells…just make sure to stage it correctly and tastefully!

*You can always restrict showings if it interferes with holiday parties or celebrations.

*Buyers have more time to look during vacation time from schools and jobs or while visiting friends and family.

*You can delay closing until after the holidays pass!

*When you sell your own home during the winter you are in a stronger position to purchase a new one when all those spring for sale signs pop up.  You will have the maximum negotiating advantages as your home will already be sold!

So what are you waiting for?  Call me and I will take care of everything for you 🙂

~Jenn

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Resort Style Living in Amityville

There are very few homes that boast this amount of custom beautiful woodwork!  Call me today to schedule an appointment to see this unique and stunning home!

MLS #  2684687

Click Here for the MLS Listing

http://www.mlsli.com/homes-for-sale/NY/Amityville/11701/82-Bayside-Pl-125160362

Click Here for a Virtual Tour

http://www.realestateshows.com/735380

160 feet of top notch composite bulk heading  and one of a kind cedar boat house!

160 feet of top notch composite bulk heading and one of a kind cedar boat house!

Custom molding through out this stunning home!

Custom molding through out this stunning home!

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