How To Determine The Price Of Your Home

Why is it that some homes sit on the market for a year while others sell like hot cakes? Frustrated sellers will blame a bad market, while a good real estate professional will tell you that many times, a slow sale is often attributed to the listing price.
If a home is overpriced, buyers will stay away. But, if the price is competitive with similar homes in the area and “shows” better than the competition, it will have a better chance of being sold quickly.
The secret is perfecting a technique that’s as American as apple pie: comparative shopping.
Although comparing houses with different styles, square-footages and locations is challenging, real estate professionals still feel it’s one of the best methods to use when determining a home’s market value.
A responsible real estate agent will effectively evaluate a home’s worth through a process known as Comparative Marketing Analysis (CMA). Taking a look at assets, such as a swimming pool, bigger than normal living spaces, a fantastic view, adjacent city parks and other attractions, the agent will begin to compare your home with similar properties, called “comparables,” that have sold in the area within the last six months. Typically, the agent is able to recommend a realistic price range that will ensure you top dollar and a reasonably
However, factors such as the amount of time needed to sell your home can alter the agent’s price recommendation dramatically.
Typically, people should check with real estate offices in the community to determine the typical duration that listings are on the market. Sales associates will explain that the marketing “norms” vary with prices and properties. Based on this criteria, the agent feels confident that he or she will be able to sell it for a price that both you and the buyer will be happy with. However, if you’re under time constraints because of unexpected job changes or moving agreements you’ve made on another property, this will narrow your chances of selling the home for top dollar in the market.
Assuming you have sufficient time to market the home, here are a few small steps you and your agent can take to finding the right price for your property.
The best comparisons can be made with similar homes that have been sold within the last 45 days as opposed to the standard six months. Any longer and other factors, such as the economy, could cloud your view of how much your home is really worth.
Another good benchmark is to review the selling prices of homes that have just been sold and are pending closes. Most MLS services provide information on deals pending that most real estate agents should be able to shore with you.
A good rule of thumb before setting a price is to make 20 comparisons of comparable properties within a one-mile radius of your house. Once completed you can feel comfortable that the price you’ve picked is a good gauge of the home’s worth and won’t discourage qualified buyers.
Being open and honest about what you see as the home’s greatest strengths and biggest weaknesses will also help an agent get a better feel for how to best evaluate (or assess) and market your home. Think of your home as if you were the buyer. If your home is listed at the right price, you’re well on your way to a speedy and fruitful sale.

Home Sales For Plainview January 2009

Address Style Colsing Price

1. 53 Nassau Ave, Cape, $286,140
2. 60 Jamaica Ave, Exp Cape, $300,000
3. 88 Jamaica Ave, Split, $330,000
4. 8 Jano Pl, Hi Ranch, $ 385,000
5. 68 Jamaica Ave, Split, $ 380,000
6. 105 Knickerbocker Rd, Ranch, 420,000
7. 48 Sunrise St, Cape, $416,500
8. 10 Gates Ave, Split, $427,300
9. 26 E Cedar Dr, Exp Cape, $440,000
10. 14 Virgina Ave, Colonial, $440,000
11. 23 Opal Dr, Split, $534,000
12. 66 Joyce Rd, Split, $640,000
13. 25 Southwick Ct, Ranch, $682,000
14. 16 Ruth Pl, Colonial, $820,000

Face Book I Need To Sell/Buy my House Real Estate Tips and Discussion Group

Just started a new Face Book group to help everyone that wants their real estate questions answered. Post a question, make a comment, or just check it out.



"I Need sell/Buy a House, Real Estate Tips and Discussion Group. http://www.facebook.com/group.php?gid=51202751850


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Mark Schreier
Licensed Realtor
(516)263-9094

Are Nassau County Property Taxes Going Down?

Are Nassau County Property Taxes Going Down?

Nassau County finally got on the band wagon and agreed to reduce the assessed value on the majority of properties in the county for the years 2010/2011. However just because your assessed value goes down doesn't mean your yearly tax bill will be reduced. According to the Nassau County Department Of Assessment http://www.mynassauproperty.com/ for the 2009 tax year county taxes only accounted for 17.3% of your tax burden. Town and village, city & special district taxes make up 20% and school taxes 62.7% The amount of taxes in dollars the local government collects from you is based on it's expenses, divided by your assessed value. So when local government expenses go up the burden is divided according to your assessed value. The higher your assessed value the more of the pie you will be responsible to pay. So yes even if your assessed value goes down your yearly tax bill can go up. If you would like to challenge the county market value of your home, your property tax classification or exemption status, you may file an application for correction of assessment at www.nassaucountyny.gov/arc between January 2, 2009 and March 2, 2009 or by calling the assessment department at 516 571-1050.
Mark Schreier ,LSA
http://www.toplirealtor.com/

Plainview New York Home Sales for December 2008

53 Nassau Ave Plainview $246,500 Cape

152 Central Park Rd Plainview $305,000 Ranch

30 Vernon St Plainview $355,000 Exp Ranch

27 Janet Dr Plainview $385,000 Ranch

27 Clearwater Dr Plainview $430,000 Exp Cape

26 Birch Ln Plainview $460,000 Split

104 S Lincoln Rd Plainview $475,000 Split

68 Country Dr Plainview $477,500 Split

59 Beaumont Dr Plainview $450,000 Hi Ranch

164 Morton Blvd Plainview $519,000 Exp Ranch

17 Alan Ct Plainview $475,000 Split

16 Laura Ln Plainview $542,500 Hi Ranch

11 Millford Dr Plainview $585,000 Ranch

Town of Oyster Bay Bethpage Community Park Indoor Ice Rink Grand Opening

The Town Of Oyster Bay Ice Rink just opened its doors last month. It is a great place to burn off those extra holiday calories.. The regulation size rink has lockers, pro shop, snack bar, and a lounge with a wood burning fire place. I went there with my 7 year old and had a blast. It is part of the Bethpage recreation center.

Selling Your Home in The Winter

In many parts of the country, selling a home during the winter months can be a challenge. Dreary, cold weather and the end-of-the-year holidays can keep buyers away and than there are the heighten fears of your home staying on the market longer than expected.
However, there are a few things you can do to enhance “curb appeal.” And when that happens, buyers will take notice.
For example, if your home has been on the market for more than six months, its probably time to change the sales approach. There are several factors that could be reviewed with your real estate agent to determine improvements that can be made. Ask for a reassessment of the sales price; it may be too high for the current market. Also, ask the agent for a new or updated marketing plan and ask for a specific explanation of each activity. Marketing your home goes beyond a few ads in the newspaper and a listing on the Multiple Listing Service (MLS); a good agent will do more to get your home sold.
If your current agent doesn’t respond to your satisfaction, you should contact the real estate broker (the owner of the office) and ask for a different sales agent – or, if you’re no longer under any contractual obligation to the firm, it might be time to change real estate offices entirely.
When setting the asking price through a comparative marketing analysis, compare similar homes sold in the winter months. Many owners set their asking price too high because of comparisons with sales prices during peak seasons. Always try to compare like properties sold at the same time of year.
Once you’ve settled on an asking price, its time to spruce up the interior and exterior of your home. Many real estate agents recommend opening as many curtains as possible to add light and color to rooms. Also, it’s suggested that you keep spring and summer pictures of your home out on tables and in clear view. Photos of your front yard flowers or the backyard shade tree in full summer bloom can help swing many buyers in favor of a purchase.
Staying on top of winter maintenance and chores is another sure-fire way of adding value to your home. A neatly shoveled driveway and cleared walkway can add a nice touch. Make sure the furnace is in good working condition and that the room temperature is kept at a comfortable level. Also, check to see that the basement if dry and sealed from any drafts.
Take yourself on a tour of your home. Start in the basement and work you way through the house. More than likely you’ll see many previously undiscovered cluttered spaces and needed repairs that can turn off potential buyers.
Don’t overload your home with holiday decorations, either. The buyer should have a chance to see you home in its everyday condition.