Archive for November, 2007

North Fork Holiday Decorating Tips for Your Home

November 30th, 2007 category: Real Estate NewsNo Comments »

We are currently wondering how to erect a tree, decorate it, and find it in one piece when we return home.

Our bulldog, Oliver, is fascinated with “shiny” objects- and the notion of a big, object laden opportunity may well be more than he can handle- restraint is NOT among his admirable qualities.

While we may fore-go a standard sized tree for something smaller (and higher up) there are other holiday dangers for pets that are worth noting.

No more chocolates on the table for guests (wrapped or unwrapped)- chocolate in large enough doses can be very toxic to animals. As “one piece” is never enough, perhaps we’ll pass altogether on this treat of the season- my scale will thank me in January!

While candles are lovely at this time of year, the hot wax (not to mention singed whiskers from the flame) will bear watching- placing them on out of reach surfaces will eliminate the curiosity, at best; at worst, Oliver will simply have to observe without touching!

Tinsel is a life threatening “toy” for either a cat or a dog. The shiny, light strings can easily wrap themselves around the intestines of your pet, creating the need for surgery- not a way to spend the holidays for you or your pet!

Holiday plants, such as poinsettias, holly, and mistletoe contain toxic chemicals that can create serious illness for your pet. Out of reach locations are imperative.

AAAAhhhh…LEFTOVERS! How difficult it is to deny Oliver a treat, however the change in menu can create sickness if they are unaccustomed to the treat. Vomiting and diarrhea are the result of gastrointestinal problems. Not on the menu for the holidays!

If your home is like our own, you may have “little people” visiting over the course of the holiday season. Educating your family about the dangers will help in eliminating them, and kids love the responsibility of taking care of animals. Let them help by offering simple guidelines to follow.

These tips are courtesy of the North Fork Animal Hospital. If you find your pet in an emergency, call them at: 631-765-2400.

If you’re thinking of buying or selling a home on the North Fork of Long Island, give us a call- we love pets!

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Another North Fork, Long Island Real Estate Rant…

November 28th, 2007 category: Real Estate Philosophy6 Comments »

It’s time for another North Fork, Long Island, New York real estate RANT.

Having recently worked with several buyers seeking property in the area, we were asked what “EXCLUSIVE” meant on the signs that are present here.

To those REALTORS who put the “exclusive” riders up, please do not tell me that it’s to differentiate yourself from an “open” listing- that’s RIDICULOUS, and a game abandoned by New York real estate companies YEARS AGO. Hence, the confusion facing agents from outside the eastern end of Long Island.

We have to explain it to the buyer looking at your listing. Know what? It’s ANNOYING.

Prospective buyer: ” I’ve noticed that many of the signs have EXCLUSIVE on them. What does that mean?”

Real estate agent: “Yes, it’s a practice done out here to offer the listing company the opportunity to pick up both ends, meaning the commission without sharing, in the event that someone happens to drive by the listing.

It’s a very bad plan for the seller, because in the “old” days, meaning thirty plus years ago in most parts of the country, real estate agents realized the importance of cooperation and full exposure- it’s detrimental to any seller to eliminate any buyer by making things confusing. Clearly, some still don’t GET IT.”

When I contacted MLS (MULTIPLE LISTING) about this practice, they had NO IDEA what I was talking about, because exclusive riders disappeared a long time ago elsewhere on Long Island, and everywhere else. They agreed that it is an odd practice, and requested photos- if an agent is a member of theMLS, cooperation with other agents is AGREED TO, making exclusive signs unnecessary.

Another annoyance is the use of the MLS as a method to gain exposure, but with an unwillingness to pay a “buyers agent”. SELLERS: if you’ve agreed to this, rethink it. When we tell buyers that your house doesn’t offer buyers the ability to view the home with a buyers agent, the comment from buyers is often, “WHAT’S WRONG WITH THE HOUSE?”

Because buyer agency is common everywhere, it seems, but on the North Fork, that’s tough to answer. If they want to view the property despite concerns brought about by the decision to eliminate smart buyers that want their own representation, we’ll show it. Most times, though, the buyer will take a pass. The decision to eliminate buyer agency with your property eliminates good buyers. Was this explained to you?

The real estate system has needed a balance on the North Fork, as buyers for YEARS have received the questionable status of being represented by the selling agent. This hasn’t prevented offers from being submitted; in fact, that aspect hasn’t changed.

The difference is that, when one real estate agent represents the seller, and the other the buyer, the transaction has a much better shot at concluding with fairness- to BOTH the seller and the buyer. When a buyer is represented by the SELLING agent, it makes accepting offers imbalanced, and puts the seller in a position that might create compromise: two interested parties; one represented, one not (there is no representation for the buyer whatsoever if they do not have a buyers agency agreement. You’ll never see the offer from the represented buyer. YOUR SELLING AGENT CLEARLY DOES NOT COMPREHEND FIDUCIARY if you have been encouraged to eliminate buyers represented by real estate agents. If it was solely your decision, as a seller, it might be worth re-considering.

And really, aren’t buyers correct to assume that there might be a problem with the property? Why SHOULDN’T buyers have the same ability to choose to be represented by a real estate agent, so that their interests are handled with the same diligence that the sellers interests are?

A buyers agent will establish that the value is in line before showing the property; a buyers agent will accompany the buyer for the inspection in order to determine a reasonable outcome (remember: at this point, the buyer wants the house); a buyers agent will make certain that the buyer is ABLE to make the purchase.

Why eliminate BUYERS IN A BUYERS MARKET, either by playing weird exclusive sign rider games, or insisting that all parties to the transaction represent the seller only? Buyers today are simply too smart for that.

These shenanigans have been present both here, and in the Hamptons, forever…but times are changing.

Put your home on the market, including all possible buyers and their representation, and don’t create doubt by permitting an “exclusive” rider on the house. It causes issues that YOU don’t see, BUT WE DO.

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Real Estate…It’s a Gut Feel.

November 17th, 2007 category: Buyers, Real Estate News, Sellers8 Comments »

Selling or buying real estate requires basic knowledge. A real estate agent can provide input, and both buyers and sellers can receive additional input online. The paperwork end of a transaction is NOT rocket science.

With that said, what CAN I contribute to your transaction, beyond a full understanding of the process?

The real kinks never seem to be about an uncrossed T.

The kinks often stem from the ability of the sellers and buyers, from a personality standpoint, to view the property from the same page. Much like it would be were you to enter your child in a beauty pageant (OK- I wouldn’t, but that’s another story) there is no possibility of a seller remaining DETACHED. It just isn’t possible. At least, it isn’t for me (and I’ve sold a few of my own houses). It is also unrealistic to expect that a buyer is fine with the house just as it is, at just that price, at this point in time.

Buyers, in this odd market, are looking at house pricing as the “starting point“. Rare is the buyer, anyway, who doesn’t make an offer, but offers today are often significantly under the asking price. This is tough stuff- especially in light of a market that is barely steady or has a decline. Newspapers are pounding the notion of a catastrophic price drop every other day; news shows do little to squelch the possibility.

I like to think, as a real estate agent with experience, that my input (depending on who I’m representing) will either make them money, or save them money.

SELLERS, for starters, one thing hasn’t changed: PROPERTIES THAT ARE PRICED RIGHT SELL. How to determine that, even while gazing at stats barely three months old? More important, what of your current competition? I want to know exactly what a buyer is thinking when they view the house down the street- what would I think? What do YOU think? If you don’t understand the market through the buyers eyes, you need another set of eyes. My fiduciary is yours first; that requires that your financial outcome is, in my estimation, the maximum that is realistic.

BUYERS, that home that looks overpriced? It isn’t, and here’s why: “There was an assessment indicated to the owners of the condominium association four months ago for $12,000. THIS seller paid it in full; the other homes on the market didn’t. That’s why they are $5,000.00 lower.” Or, “This house that you love is perfect, because it falls in line with all of the comps- however, as sellers are aware of the “offer” climate, let’s go under, and see what happens first. If you love it, we’ll get to full price if we HAVE to.” If you and I have signed a buyers agency, fiduciary comes before all else.

Clearly, as either a seller or a buyer, the home buying process is a task that you can accomplish without another opinion. My goal is to make my opinion WORTH IT.

If you are thinking about selling your home for top dollar permitted in the current market conditions, call us for our opinion- we’d be happy to provide it.

If you are thinking of buying a home, let’s go steal something. Or, locate something priced right, that you LOVE.

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Tips on Selling Your Home During the Holidays

November 10th, 2007 category: Sellers2 Comments »

‘Tis the season…

Many home sellers, disappointed with the results of marketing their properties over the summer and fall, make the decision to take their property off of the market during the holidays. The prospect of interrupted family gatherings, inconvenient showings, and the overall uncertainty combined with holiday stress compel this decision.

If you are serious about selling your home, consider the alternative of staying the course.

What better time, even if the buyers are fewer, to present your home than when there is less inventory on the market? Competition in peak months can be fierce, and a slower market increases the opportunities for buyers to choose your home above others.

Some suggestions, should you decide to market during the busy holiday months:

Keep your decorations to a minimum. Remember, buyers are seeking to imagine themselves in your home; too much can be distracting. A wreath on the door, candles or a tree, and stockings are fine; the pink wiggly singing thing that belts out holiday favorites might be better enjoyed in your childs room. Save the silly items (I say that sincerely, as one who LOVES the silly items) for specific gatherings.

Be sure to keep gifts in a safe place- neatly. Finding a spot in which to keep your wrapping necessities and items purchased for family and friends provides security, in addition to maintaining organization. All items of value should be secured, just as they are at any time of offering your home for viewing.

If you are planning a party, let your agent know in advance, and block that time off for yourselves. Do not put yourself in a position of turning down showings- rather, schedule those times that are “off limits” for showings in advance. Your Realtor will appreciate the heads up; people are understanding during this time of year.

Leave a basket of candy canes, or a plate of cookies (store bought is fine) for those looking at your home. Kids love it, and the buyers may remember your home as the one in which treats were provided.

Holiday music playing softly is a nice touch. While I find myself quite tired of the songs by the first of the year, background music is soothing, and may appeal to those looking.

Remember…fewer homes on the market increase your chances of selling.

CALL OR EMAIL US IF YOU’D LIKE ADDITIONAL TIPS ON HOLIDAY HOME SELLING. As people who enjoy all of the festivities, we understand the obstacles that the holidays create for home sellers. We don’t mind working through the holidays (and we like the candy canes with green and red stripes)…

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Musings

November 10th, 2007 category: Real Estate News1 Comment »

Jonathan Clements from the Wall St. Journal reported this story about Unloading Your Property in a Slow Market

“It could be the kindest cut of all.
Look at the prices of homes getting sold, and the property market’s decline seems no worse than a rough day in the stock market. Look at the number of unsold homes, and you realize there’s a world of financial pain out there.”

See it all Here

Very often, people that I run into on a daily basis usually ask me about the current status of the real estate market here on the North Fork of Long Island. I’ve told you that we are seeing recent reductions in the number of homes on the market and how that will be a good thing for the overall real estate economy here on the North Fork. Less inventory numbers in the market will help to increase demand as the supply becomes reduced. This will help to level out the recent correction of our local real estate market here on the North Fork of Long Island, New York.

James R. Hagerty at the Wall Street Journal, in his article,
Drop in Home Listings…

…“Though inventories of homes are no longer growing rapidly as they did in 2005 and 2006, they remain at a very high level in most of the country — and that has been pushing prices down in many areas. “Sellers are becoming a little more flexible in negotiating prices,” says Pat Lashinsky, chief executive of ZipRealty.”

See it all Here

Wow!
A fire storm has been brewing on this blog post, Informed Sellers Demand More From Real-Estate Agents…

“Just putting the home in the MLS and [posting] a yard sign is simply not enough,” an area agent quoted in the article says.

See it all Here

I save the best for last…and The Real Estate Tomato does not let us down this week!
Jim Cronin posts The 7 Reasons Why Your (Future) Clients Should Care That You Are a Real Estate Blogger

“Without the substance to back up these slogans, they are nothing more than sentences. Your clients and potential clients are in fact looking for an agent that has superior knowledge, rich experience, is trustworthy, offers excellent service, knows the area and cares about them.”

See it all Here

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Condo Living On The North Fork of Long Island, New York

November 5th, 2007 category: Buyers1 Comment »

For many people interested in scaling down a bit (without sacrificing too much space), opportunities abound on the North Fork of Long Island. While the narrowing down process can be challenging, it can also be a fun adventure. Below, please find condominium communities that cater to a low maintenance lifestyle!

Baiting Hollow, New York:

The Knolls is a community located on the north side of Sound Avenue. The homes located on the first floor have a basement, patio, and with location, a view of the Long Island Sound. The community boasts a pool and tennis courts, with convenient access to the LIE. The HOA dues are in the $270-$350 per month range. Offering 2 and 3 bedrooms, built in the 1990’s, and a nice getaway opportunity. Pricing ranges from the mid-300’s to the high 400’s. Call us to view this opportunity!

The Bluffs is a condominium community that can also be found on the north side of Sound Avenue. With a rustic look, these condominiums built in the 1980’s also offer the opportunity for a spectacular water view.

The community has a pastoral feel, with a large pool and tennis courts offered to the residents. The homes feature 2 bedrooms and 2 baths, with upper and lower units. The HOA dues are in the $310 per month range. Pricing ranges from the mid-$300’s. Call us to view the available opportunities!

Windcrest East a single family CONDO community- while it is fully maintained, the homes are detached. The homes are quite large, exceeding 2000 s.f. in some cases, and each plan is meticulously presented. The amenities include a pool and clubhouse. THIS IS AN OVER-55 COMMUNITY, so for those hoping to find a wonderful atmosphere with like-aged occupants, this is a winner. Pricing is currently in the mid-500’s, but homes do not come up often- a newer community, the turnover is limited. Call us if you’d like to grab one of these lovely homes as they become available. Located conveniently off of Middle Road, the LIE is very accessible. The HOA dues are in the mid $200 per month range. Call us to view any available homes!

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Riverhead, New York:

Willow Ponds is a condominium community accented by fountains and offering a very charming environment. The homes are clustered around the ponds, offering an open feel to the neighborhood. Located on the north side of Sound Avenue, these homes are two storied, with amenities that include a clubhouse, pool and tennis. The HOA dues are in the mid $200k per month. Pricing ranges from the lower 300’s to the upper 400’s. These condos were constructed in 1990. Call to see current available homes!

Sunken Ponds, similarly located to Willow Ponds, has homes constructed as late as 2005. Similarly equipped from an amenities standpoint, Sunken Ponds is AN OVER 55 COMMUNITY. Offering 2 bedrooms, these homes are located in a nicely landscaped community, complete with heated pool. Pricing for these condos range from the lower to mid 400’s. At nearly 1800 square feet, space is offered, as well as convenience. Call if you’d like view a home here!

Stoneleigh Woods, located off of Middle Road, is a community that is still constructing brand new homes. A gated community, the fresh feeling of a new condo is sweetened by being price friendly in the OVER 55 COMMUNITIES. The homes are large, with the master bedrooms located on the first floor- these are ranch plans with storage. Boasting a clubhouse and amenities, this builder is listing the HOA dues at approx. $250. per month. The homes are priced in the high $300’s. We love new construction, and working with builders on your behalf- call us today for a viewing!

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HEADING A BIT EAST ON THE ISLAND, JAMESPORT OFFERS INTERESTING OPPORTUNITIES.

Maidstone Landing is a community of note, with a breathtaking location, and luxury amenities. Located on the north side of Sound Avenue, these homes perch on the Long Island sound, and offer a clubhouse, tennis, and pool for homeowners. Additionally, there is a beach for enjoyment. Homes in Maidstone Landing begin in the $700’s, and are offered at considerably higher depending on the location. The HOA dues range from the high $400’s monthly. If you are seeking a luxury condominium, give us a call!

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TRAVEL INTO SOUTHOLD, AND THE CHOICES CONTINUE…

Founders Village, centrally located, affords residents the convenience of downtown Southold. The grocery store, the park for summer concerts, the ice cream shop, drugstore, and boutiques are all within walking distance. The community itself has beautiful landscaping, with a pastoral feel. For visiting family, a clubhouse and pool are perfect for socializing. The homes offer large rooms, and are offered in the mid-to-high $300’s. The HOA dues are $240. per month. Convenience, nice floor plans, and a friendly location in the heart of Southold. Call us to view this OVER 55 COMMUNITY today!

IF VIEWS ARE YOUR “THING”, GREENPORT OFFERS ADDITIONAL CHOICES.

Sterling Harbor is located within walking distance to town, with terrific views of Greenport Harbor. An opportunity in this community is a rarity. The last home sold was in the $600’s. There are docks adjacent to the community, in addition to views that can’t be compared. If Greenport is of interest, this community might be one which you’d like us to update you on availability.

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And, just a little bit east of Greenport is EAST MARION.

Cleaves Point offers waterfront condominiums built in the late 1980’s. With 2 bedrooms, 2.5 baths and a garage, with nearly 1800 square feet of living space this is a great opportunity for a vacation spot. A clubhouse and marina clinch it for boating enthusiasts. These condominiums are priced, when available, in the low to mid $800’s. The HOA fees are approx. $482 per month. Call us if you’re looking for a secluded, luxe environment!

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KEEP IN MIND that all condominiums are subject to an offering plan review. Having worked with offering plans and their contents, we are familiar with “pitfalls.” While unable to dispense legal advice, we are able to assist you in doing a bit of “investigation”. Condominiums are a perfect solution- knowing exactly what by-laws you are purchasing is part of that solution. For any assistance with 55 and Better communities, or condos offering a vacation or permanent home, call us- we’d love to help! Options Realty: 631-727-2227

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