Monday, October 8, 2012
The pros and cons of purchasing a short sale property
The pros and cons of purchasing a short sale property
Some buyers find themselves contemplating the purchase of a short sale, a property that sells for less than the balance its owner owes on the mortgage, despite the possible added complexities. If this is something that you are considering, please take note:
Pro: A major advantage to purchasing a short sale property is the price. Banks do not want a property to go into foreclosure, which is usually the next step if a short sale property fails to sell. Often buyers can purchase a property for under the market value.
Con: The disadvantage of buying a short sale is that it can be a very lengthy process. Short sales often take significantly longer than normal closings due to the amount of people involved in the transaction. The bank employs negotiators to get the maximum amount for a property and once the negotiator approves, a supervisor must review the package. You may wait for months while your offer is evaluated and the lender may reject your offer, even after having had the paperwork for a long period of time. If you do not have a flexible time frame, a short sale probably isn’t for you.
Recommendation: When shopping short sales, remember to work with a qualified real estate agent who has experience with short sales. Short sales can be complex, so it helps to ask about experience and success with short sales and familiarity with the process and lenders.
Contact me for more: Mark Schreier Century 21 Prevete Real Estate. 516 263-9094
Thursday, September 27, 2012
An Organic Farm in Old-Bethpage???
Some might think they have to travel to the mountains of New Hampshire Nassau County
Hours:
Wednesdays, 4-6pm
Sundays, 10am-12pm
June 6 thru October 21
Location:
Inside the gate o Old-Bethpage-Sweethollow Rd. (aka Spagnoli Rd.), opposite Claremont Rd. Look for the yellow tent!
Location:
Inside the gate o Old-Bethpage-Sweethollow Rd. (aka Spagnoli Rd.), opposite Claremont Rd. Look for the yellow tent!
Tuesday, September 11, 2012
Why photos are so important when selling and what to remember when choosing the shots
Why photos are so important when selling and what to remember when choosing the shots
The first impression no longer starts at your front door. Instead, the majority of today’s potential homebuyers begin their property search online. The online photos of your property need to stand out among the competition and engage a prospective homebuyer enough to entice them to schedule a viewing with your REALTOR®. Here are some photo tips to remember when showcasing your home online.
- Judge a book by its cover. What initially attracts a potential homebuyer is the exterior image of the property. The image should be appealing, and the best time of day to photograph an outdoor area is early morning and twilight. Evening outdoor shots should feature the home with the interior lights on, creating an inviting and alluring effect. Remember, try and photograph during months when there is outdoor vegetation and lush landscape.
- Capture your best quality. Focus on the selling point of your property. What do you most want potential buyers to see? Consult with your REALTOR® and decide what feature of your home is the most in-demand. Whether it is your newly renovated kitchen or sprawling outdoor area, the image should be prominently featured in your online listing.
- The same rules apply. When potential buyers visit your property, regardless if it is a classic cottage or opulent estate, it should be clean, neat, and organized. These same rules pertain when photographing a property. Eliminate any clutter and present a clean, well-maintained home that will attract online homebuyers.
Sunday, April 22, 2012
How To Make The Most of Spring Curb Appeal
How To Make The Most of Spring Curb Appeal
Posted on April 22, 2012 at 6:11 pm According to the National Association of REALTORS®, 63% of homebuyers will drop by after viewing a home they like online. If your home isn't alluring from the outside, potential buyers may never schedule a showing to see the desirable features within it. Here are some tips to create a first impression that may lead to a sale this spring.
1. Under pressure - Pressure washing is budget-friendly way to dramatically improve a home's exterior. Dingy siding, mildewed decks, faded walkways and oil-stained driveways can be returned to pristine condition.
2. Contain yourself - Consider investing in container plants. Arranging them around the yard and entryway is a quick way to brighten up a space and create a splash of color.
3. Get rid of gutter clutter - Clean your gutters. Often leaves, branches and debris may be visible from the street.
4. Open up - Homes with open your curtains often look brighter and more inviting.
5. Enjoy the view - Clean windows speak for themselves.
6. Lighten up - Outdoor lighting is aesthetically pleasing and provides visual aid in the dark.
7. Quick fixes - Updated hardware, such as doorknobs, lighting and even the mailbox, can greatly enhance an entryway.
8. Store more - Put away any tools, toys, bikes etc. out of sight so they do not detract from the home.
9. Repair and renew - Improve the obvious by filling in sidewalk cracks, fixing screen doors, and touching up any paint that is chipped.
10. Tidy up - Remember to rake the leaves and trim the hedges to give the yard a boost.
For more tips on selling your house contact Mark Schreier, Realtor, Century 21 Prevete Real Estate, http://www.TopLiRealtor.com
Posted on April 22, 2012 at 6:11 pm According to the National Association of REALTORS®, 63% of homebuyers will drop by after viewing a home they like online. If your home isn't alluring from the outside, potential buyers may never schedule a showing to see the desirable features within it. Here are some tips to create a first impression that may lead to a sale this spring.
1. Under pressure - Pressure washing is budget-friendly way to dramatically improve a home's exterior. Dingy siding, mildewed decks, faded walkways and oil-stained driveways can be returned to pristine condition.
2. Contain yourself - Consider investing in container plants. Arranging them around the yard and entryway is a quick way to brighten up a space and create a splash of color.
3. Get rid of gutter clutter - Clean your gutters. Often leaves, branches and debris may be visible from the street.
4. Open up - Homes with open your curtains often look brighter and more inviting.
5. Enjoy the view - Clean windows speak for themselves.
6. Lighten up - Outdoor lighting is aesthetically pleasing and provides visual aid in the dark.
7. Quick fixes - Updated hardware, such as doorknobs, lighting and even the mailbox, can greatly enhance an entryway.
8. Store more - Put away any tools, toys, bikes etc. out of sight so they do not detract from the home.
9. Repair and renew - Improve the obvious by filling in sidewalk cracks, fixing screen doors, and touching up any paint that is chipped.
10. Tidy up - Remember to rake the leaves and trim the hedges to give the yard a boost.
For more tips on selling your house contact Mark Schreier, Realtor, Century 21 Prevete Real Estate, http://www.TopLiRealtor.com
Wednesday, March 14, 2012
Buy into Plainview for under $330,000
Attention Handy Man & Investors Plainview Expanded Cape
Make it yours! Large fully dormored cape on quite mid block location. 5 Bedrooms,
2 Bathrooms, 60x100 property, school district #4, Plainview- Old Bethpage.
Call for more info 516 263-9094
Thursday, March 1, 2012
Home Projects To Complete Before You Put Your House On The Market
The goal of every home seller is to sell his or her home as efficiently as possible for the highest price. Every seller should clean and stage their home for potential buyers, the following are projects that should be completed before you put your home on the market.
If it’s broke, fix it - This is crucial in the selling process. Repair the broken cabinet or loose railing before buyers view your home. Damage detracts from your home and may make buyers question what else you have not maintained.
Shades of grey - Interior paint is inexpensive and revitalizes a space. Covering scratches or wear and tear with fresh neutral paint is aesthetically pleasing and even creates that ‘new home’ look and smell!
Floored! - Transform your space by refinishing wood floors, updating tile or professionally cleaning any carpeting.
First impressions - Consider replacing your front door, as this is an investment that often pays for itself in the final price of your home.
Subtle accents - Fixtures and hardware, such as cabinet knobs, faucets, light fixtures and door handles can be relatively inexpensive and done without a professional.
Clear view - Upgrading old windows throughout a home makes a big difference both inside and out.
Keep up the façade - Garage doors often account for a large percentage of a home’s front façade. Similar to the front door, homeowners who upgrade or update their garage doors, may see a good return on their investment.
If it’s broke, fix it - This is crucial in the selling process. Repair the broken cabinet or loose railing before buyers view your home. Damage detracts from your home and may make buyers question what else you have not maintained.
Shades of grey - Interior paint is inexpensive and revitalizes a space. Covering scratches or wear and tear with fresh neutral paint is aesthetically pleasing and even creates that ‘new home’ look and smell!
Floored! - Transform your space by refinishing wood floors, updating tile or professionally cleaning any carpeting.
First impressions - Consider replacing your front door, as this is an investment that often pays for itself in the final price of your home.
Subtle accents - Fixtures and hardware, such as cabinet knobs, faucets, light fixtures and door handles can be relatively inexpensive and done without a professional.
Clear view - Upgrading old windows throughout a home makes a big difference both inside and out.
Keep up the façade - Garage doors often account for a large percentage of a home’s front façade. Similar to the front door, homeowners who upgrade or update their garage doors, may see a good return on their investment.
Sunday, February 26, 2012
The benefits of buying a home in the winter
Typically, home sales are strongest in the spring and summer months; however, there are several advantages to shopping for homes in the fall and winter. Sellers are often more motivated in the winter and may be willing to negotiate terms such as price, repairs, and even a closing date. The rule of thumb is that anyone braving the elements (or taking the time during the busy holiday season) to view a home is a serious buyer, and the same can be said for those who leave their homes on the market during this time and continue to have viewings.
Fewer buyers in the marketplace during these months mean less competition and a better chance of getting a home at a lower price. Also, potential buyers in the winter months have the luxury of spending more time researching homes without as much concern of losing a house to another party. When viewing a home in the cooler months buyers get a realistic idea of a home’s energy efficiency. Pay attention to the thermostat temperature and take note of any drafts in the home. Trees without leaves give potential buyers an accurate picture of the privacy (or lack thereof) from neighbors or the street.
Because the majority of moves take place in the warmer months, moving companies may be readily available when it comes to your desired move date and even flexible on their rates.
Fewer buyers in the marketplace during these months mean less competition and a better chance of getting a home at a lower price. Also, potential buyers in the winter months have the luxury of spending more time researching homes without as much concern of losing a house to another party. When viewing a home in the cooler months buyers get a realistic idea of a home’s energy efficiency. Pay attention to the thermostat temperature and take note of any drafts in the home. Trees without leaves give potential buyers an accurate picture of the privacy (or lack thereof) from neighbors or the street.
Because the majority of moves take place in the warmer months, moving companies may be readily available when it comes to your desired move date and even flexible on their rates.
Monday, February 20, 2012
Will a local short sale have an impact on the sale-ability of my house???
Will a local short sale have an impact on the sale-ability of my house??? I was asked this question recently by a prospective client. There is no absolute answer to this question. The bottom line is the sale price of any house is determined when the buyer and seller reach an agreement. Once that transaction is made that price now becomes an active comparable for ~60 - 90days after contract date. Some agents argue that a short sale has a third party (the bank) in the equation. The bank has different motivation than the homeowner, thus these sales should not be considered as comps. There is also argument that banks price their short sales by securing BPO's Broker Price Opinions and that these opinions are made with active comps with possible short sales included to determine market price and adjustments made to account for money owed and property condition. When pricing a property I must look not only at active and closed short sale contract price but the number of short sells in the area. If there are only a limited number and I have many active two party comps with higher contract prices we might exclude these sales. Property condition, number of short sales and foreclosures (REO's), and 2 party active comps all have to be considered when determining marketability. Other factors to consider is the sellers motivation and time frame that the house needs to be sold by. We must also remember that if we secure a higher selling price from a buyer that is using bank financing we could have problems making it through the appraisal process.
Friday, January 13, 2012
Home Projects To Complete Before You Put Your House On The Market
The goal of every home seller is to sell his or her home as efficiently as possible for the highest price. Every seller should clean and stage their home for potential buyers, but see below for what projects should be completed before you put your home on the market.
If it’s broke, fix it - This is crucial in the selling process. Repair the broken cabinet or loose railing before buyers view your home. Damage detracts from your home and may make buyers question what else you have not maintained.
Shades of grey - Interior paint is inexpensive and revitalizes a space. Covering scratches or wear and tear with fresh neutral paint is aesthetically pleasing and even creates that ‘new home’ look and smell!
Floored! - Transform your space by refinishing wood floors, updating tile or professionally cleaning any carpeting.
First impressions - Consider replacing your front door, as this is an investment that often pays for itself in the final price of your home.
Subtle accents - Fixtures and hardware, such as cabinet knobs, faucets, light fixtures and door handles can be relatively inexpensive and done without a professional.
Clear view - Upgrading old windows throughout a home makes a big difference both inside and out.
Keep up the façade - Garage doors often account for a large percentage of a home’s front façade. Similar to the front door, homeowners who upgrade or update their garage doors, may see a good return on their investment.
If it’s broke, fix it - This is crucial in the selling process. Repair the broken cabinet or loose railing before buyers view your home. Damage detracts from your home and may make buyers question what else you have not maintained.
Shades of grey - Interior paint is inexpensive and revitalizes a space. Covering scratches or wear and tear with fresh neutral paint is aesthetically pleasing and even creates that ‘new home’ look and smell!
Floored! - Transform your space by refinishing wood floors, updating tile or professionally cleaning any carpeting.
First impressions - Consider replacing your front door, as this is an investment that often pays for itself in the final price of your home.
Subtle accents - Fixtures and hardware, such as cabinet knobs, faucets, light fixtures and door handles can be relatively inexpensive and done without a professional.
Clear view - Upgrading old windows throughout a home makes a big difference both inside and out.
Keep up the façade - Garage doors often account for a large percentage of a home’s front façade. Similar to the front door, homeowners who upgrade or update their garage doors, may see a good return on their investment.
How To Sell Your Home In A Buyers Market
In today’s buyer’s market it is crucial for sellers to make their home as appealing as possible. Here are ideas that may put your house above the competition in this market.
Don’t forget the outdoors when it comes to staging. Remember, curb appeal goes a long way and creates a lasting first impression. Refresh your landscaping, entryways and even outdoor décor to maximize the space. The warmer seasons really let you showcase the outdoor potential of your home.
Be realistic and flexible. It is a buyer’s market, so you may need to price your property aggressively. Weigh offers with an open mind and be willing to negotiate.
Get a pre-sale inspection. Any necessary repairs will be brought to your attention and if there are none, a clean home inspection report is a selling advantage. Also, this eliminates the possibility of delays in the closing process once you’ve accepted an offer.
Sweat the small stuff. De-clutter the garage, repaint the doorframes, caulk the tub, replace burnt out light bulbs, fix leaky faucets or creaky doors-don’t let these small, inexpensive repairs detract from the overall value of your home.
Add value to your property with incentives. Offer to pay for inspections, or even offer allowances such as flooring, (if the carpet is worn or wood needs to be refinished) paint allowance, or some other upgrade that would be enticing to buyers.
Don’t forget the outdoors when it comes to staging. Remember, curb appeal goes a long way and creates a lasting first impression. Refresh your landscaping, entryways and even outdoor décor to maximize the space. The warmer seasons really let you showcase the outdoor potential of your home.
Be realistic and flexible. It is a buyer’s market, so you may need to price your property aggressively. Weigh offers with an open mind and be willing to negotiate.
Get a pre-sale inspection. Any necessary repairs will be brought to your attention and if there are none, a clean home inspection report is a selling advantage. Also, this eliminates the possibility of delays in the closing process once you’ve accepted an offer.
Sweat the small stuff. De-clutter the garage, repaint the doorframes, caulk the tub, replace burnt out light bulbs, fix leaky faucets or creaky doors-don’t let these small, inexpensive repairs detract from the overall value of your home.
Add value to your property with incentives. Offer to pay for inspections, or even offer allowances such as flooring, (if the carpet is worn or wood needs to be refinished) paint allowance, or some other upgrade that would be enticing to buyers.
Monday, January 2, 2012
Happy New Year!!!
Welcome to 2012
Plainview Old-Bethpage Year in Review
The Plainview Old-Bethpage real estate statistics for 2011.
There were 228 sales this year with the average home selling for $497,563 .
The low was $260k and the high was 1,275,000.
The average days on market a little over 3 months 100 to be exact.
192 of these real estate sales were in the town of Plainview, NY and 36 were in Old-Bethpage.
Compared to the last years closings which showed 217 transactions. 189 in Plainview and the remaining 28 real estate sales in Old-Bethpage.
The average closing price for 2010 was $502,950, the low recorded at $275k and the high at $1,275,000
*data from Stratus
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