HOW TO GET YOUR HOUSE SOLD IN TODAY’S MARKET! - 06/25/08 07:48 PM
The 3 most important things you can do to get your home sold in today’s market:
1.       Hire the most experienced and LOCAL agent you can find.
Make sure they back up their claims to being #1. What does that mean? Are they #1 in their office of 3 agents? Are they #1 of the new agents in their office? OR, do they have years of experience, 100’s of sales in YOUR neighborhood?! My husband and I have sold over 625 homes. Ask the agent to define “full time”. I see agents all the time promote themselves as full time … (9 comments)

Prices drop across the country update - 06/25/08 10:37 AM
Okay, to update my post from yesterday.  Not the "whole" country.  In the 20 cities tracked by Standard & Poor's home price index.  In my area, Long Island, in included in this average of 15.3%  The issue I have is this, Long Island is lumped in with NYC and some of Jersey, Connecticut and Pennsylvania.  NYC hasn't seen their prices dropping like everywhere else.  The Hamptons are just starting to see their prices being effected.  The average, suburban home on Long Island has seen considerable losses in value over the last 1.5-2 years.
I went to an Appraisal Institute meeting where … (2 comments)

Home Prices across the country drop 15% - 06/24/08 02:06 PM
News just in. Home prices dropped 15% in April as compared to a year ago. Add to that, prices dropped in EVERY city in the country for the first time since this down turn. … (5 comments)

Looking for a Lifestyle Change? The Over 55 Condo may be just the ticket! - 06/23/08 02:28 PM
In Suffolk County, New York, it seems like age restricted condos, over 55 years, are springing up everywhere!  Why may you ask?  A variety of reasons, for one, supply and demand.  The baby boomers (of which I am one) finally are finding them selves in empty nests.  We no longer want or need the 4 bedroom colonial that served our families so well.  We no longer want to spend our time taking care of a yard, a pool, and all those extra rooms to maintain and heat that are rarely used.  The plethora of young / new condos are calling to … (2 comments)

Short Sales and Home Values - 06/20/08 10:14 AM
In my opinion,  short sales, at least in my area, have the biggest effect on dropping home prices.
Why?
In a short sale, the owner's bank takes the loss, not the owner.   Therefore, the owner just wants it sold, at any price.  The owner is usually in financial trouble and is unable to keep the home.   The banks don't want to OWN real estate, so they often agree to the short sale as opposed to going through the foreclosure process.  The buyers take the risk of going to contract on a house, applying for a mortgage of their own, having a house inspection, … (3 comments)

CMA or APPRAISAL? What's the difference and which one do YOU need? - 06/19/08 02:37 PM
… (18 comments)

Short Sales Explained - Suffolk County, NY Real Estate Market - 06/18/08 12:57 PM
We can provide you with a free copy of quarterly market reports prepared by Miller Samuels Real Estate Appraisers. We have reports covering Nassau/Suffolk and the North Fork/Hamptons. 
As you all know, the market has changed from a hot, hot, hot seller's market, to a slower, buyer's market.  What does that mean?  Supply and Demand.  More homes for sale, less buyers able to buy them.  Less mortgage money, less "creative" financing.  Where do I personally see the demand for homes?  The buyers who have been waiting for prices to come down and qualify for conventional financing.  There is a pent up … (2 comments)

Getting to Know Us - 06/10/08 03:17 PM
While our lives are often consumed with Real Estate, we would like to share a few personal things first.
We are avid boaters. You can find us on our 30' Doral, named Kokopelli at our home base on the Patchogue River at the Oar Restauant located on West Ave.  If our boat isn't there, you will probably find us at Davis Park on Fire Island. Only 4 Miles, yet a million miles away (don't worry, it is a short ferry ride back to Patchogue so we can always service our precious customers and clients).

Our favorite destination is Newport, Rhode … (1 comments)

 

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