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Retiring on the North Fork of Long Island

September 5th, 2007 category: Buyers, Riverhead Real Estate, Southold Real Estate1 Comment »

With the local real estate market slowing and properties remaining available for more time than in the recent past, exploring your retirement options on the North Fork has never been easier. Whether you’re relocating from western Long Island, New York City, or the surrounding tri-state area, there are increasing opportunities to make this thought a reality.

If you’re looking for an over 55 condominium, there are some wonderful opportunities in Southold, Riverhead, Calverton and Eastport (to name a few).

In Southold, Founders Village is a charming enclave of condominiums that offer 1100+ square feet. Built in 1980, these condominiums feature kitchen nooks, full basements, and a great room style. Recent sales pricing/closing indicates that you’ll get a nice value for this location- upper 300’s. Add a pool, walking distance to the town park (summer concerts) and all shopping, and this is a terrific option for someone that wants value, proximity, well thought out floorplans, and simple amenities with a reasonable monthly fee.

Foxwood Village, a community of homes in Calverton, offers a terrific price point for manufactured homes. This community demonstrates the adept planning of the builder (OK, we have some family connections here) by creating a community of ranch plans that offer price VALUE. Starting in the 200’s, this community is beautifully presented, and has been a popular resource for those that want to move “down”, but maintain a high standard of living. An oversized pool, beautiful landscape, and variety of homes offer the discriminating (yet budget conscious) consumer a lovely opportunity to relax in the North Fork!

In Riverhead, Willow Pond offers some interesting exterior design. The condominiums are situated around actual ponds, providing a park like setting. This community offers a small clubhouse, complete with pool. There are several different models, with pricing starting in the high 300’s. The look is “newer”- and a nice opportunity for those that enjoy a Riverhead location.

OK- this next one- I admit it- I fell in love with. There is a community called Windcrest East in Calverton that is just adorable/lovely. This cluster of condos, complete with front porches, beautiful landscaping, and a charming clubhouse, are detached condos. When we visited, there was a gathering at the pool- friends taking a mid-day swim. Flowers were in abundance, planted by people that appear to care very much that their community is welcoming. These homes were built in 2005, and offer nice size- often, three bedrooms. Sizes of these charming homes hover in the 2000+ s.f. range. While offerings are a rarity, pricing falls into the mid-500’s to mid 600’s price range. Pets are allowed; two car garages are included.

In Eastport, just a short ride from the North Fork, WCI Communities is offering an amazing opportunity at Atlantic Shores. This neighborhood has approximately 200 homes, and the clubhouse (and floorplans) are ELEGANT. The floorplans offer master bedrooms on& the main floor, with guest areas upstairs, and in some cases, also on the first floor. If you plan on entertaining, this is a superb community- the clubhouse offers everything imaginable, with elegance at the forefront. The floorplans are two to a building, with two car garages included. While the HOA dues run in the high 400’s monthly, the amenities offer exercise, a pool, card room, billiards, an outdoor pool, and just…elegance. A country club community. Here’s the thing: they are getting low on homes. Call me, to discuss all the details.

THESE ARE JUST A FEW OF THE OFFERINGS FOR THOSE LOOKING TO RETIRE ON THE NORTH FORK.

SO…if you’re thinking of retiring on the North Fork of Long Island (or to a 55+ active adult community) call me. Having worked in the new home environment for many years with some high profile builders, I know what to look for, and would love to help you. Offering plan books, specifications, expectations, etc.- it’s all there for us to find.

GOLF COURSE PROPERTIES, WATER VIEW PROPERTIES, RETIREMENT PROPERTIES…LET’S FIND YOURS!

The Perfect Real Estate Team!

August 25th, 2007 category: Buyers, Riverhead Real Estate, Sellers, Southold Real EstateNo Comments »

If I were selling a home right now, I’d want above all else, an HONEST ASSESSMENT. Not only an honest assessment, but the convenience, should I agree to the encouragement to get my home market ready, of having handy referrals for handy men. Or, women.

As a very competent and appropriate representative of your asset, my ability to relate and converse (and sell to) your propective buyer is predicated on GETTING IT RIGHT. If understanding that your asset requires the input of others, it’s ultimately (for you) worth it. We have a fiduciary relationship, you and I.

We decided, in our arsenal of ongoing ideas to market a home, to include free of charge, a staging consultation. We love Val at www.staged2sellny.com and she is a part of our TEAM. As a result, part of YOUR team. She’ll offer advice on how to change your home from YOUR home to a home to SELL (different destinations).

Need us to provide you with estimates for any items that you choose to do (paint, handyman work)? No problem- we redid our kitchen, living room, and dining room last year. We were able to meet some good people locally, if it’s not something that time permits for you.

I’d do it myself, but I never get painting right, and really don’t enjoy it. I need a team, and when you list your home with us, you get one.

The climate in which homes enter the market right now requires just a bit more attention, as buyers ponder without action. We are working with home BUYERS, not investors.

Additionally, home buyers have come to expect either a nice discount, or something that APPEALS to them on a level that provides market value for THEM. In order to maximize your value, it’s wise understand that expectations on your side are expected; but the expectations of the buyer is what will sell your home.

So, who’s missing? Ahhhh- the attorney. Here’s what we need, and this perNYstaterealestatelaws is not “legal advice”. We ALL, lawyer included, want COMMUNICATION. You deserve it from us; we deserve it from your lawyer, you deserve it from your lawyer. THERE IS NO TEAM WITHOUT THIS ELEMENT.

Lastly? When your home sells, understand that the dated notion of seller ruling the roost is dead. Not because Realtors wrung its neck, but because the balance shifted. We strongly advise a home inspection prior to listing the home. You need to have an awareness of what may impact your net proceeds before the home hits the market.

So. You have the honest assessment, the ability to get your home market ready yourself or with help, you have an attorney that is reviewing paperwork with respect to all, you have a marketing representative, AKA, Realtor, ready to get to work.

Any questions?
Options Realty: Call us to assist with your home in Riverhead, Jamesport, Calverton, Baiting Hollow, Mattituck, Peconic, or Southold, New York. Your North Fork Realtors.

SELLERS ON THE NORTH FORK, LONG ISLAND: I WAS LOOKING AT YOUR HOUSE

August 15th, 2007 category: Buyers, Real Estate News, Real Estate Philosophy, Riverhead Real Estate, Sellers, Southold Real EstateNo Comments »

You’ve no doubt heard much about the ACTIONS recommended to appeal to a home buyer- staging, new paint as needed, handyman work, clutter gone. Very important to the process. Remember, though- that is often the SECOND (albeit most important) person to consider.

Sometimes, the prospective buyer is my client. The result of
this is an initial narrowing down via MLSLI (the Multiple Listing Service of Long Island). As it is a preliminary search initially to get a “feel” for what the buyer might desire, it is incumbent upon me to provide nice homes so that the buyers trust my judgement.

Tonight, I searched the mlsli, and have selected a few properties to add to a list that is being emailed to the client. The properties have been viewed only in pictures, so let’s start there. In the interest of time, properties without multiple photos generally get a cursory glance, but are revisited after seeing homes of interest that have multiple photos. Because there is a fair amount of inventory, if my list is complete before the revisit, it will be reconsidered after we’ve seen houses that have shown me MORE- it’s much easier to narrow down with photos.

Another consideration is the exterior photo. You’ve heard it
before, but it really does MATTER in the initial stages of a search. It again provides me with the opportunity to take an initial meeting with someone and complement it with properties that, at least from the outside, offer some kind of charm. When I’m in a certain price range, with only photos to go by, the limitations are obvious. Unfortunately, looking at all of the houses on an initial visit with a buyer is not realistic (or wise). As a result, anything with less than an average street appearance may fall off the
list; a house with a cared-for look will be at the top.

The next step is setting up a “preview” of the selected homes, to determine if I missed something important. This comes from having once, early in my career, brought people that desired a lush yard to a perfect home that had nothing but rocks, little pebbles, landscaping both front and back. Not good.

The preview part involves taking a look at showing restrictions. If I have a few extra houses on the list, the first tossed from the initial appointment with the buyer will be those that have stringent and limited showing ability. Remember, we have (at this initial meeting) limited time to develop a mutual decision about whether we will be comfortable with one another, the buyer and I. Hassles with showings create an issue that often doesn’t need to be present- I value their time, with limited opportunity to prove
it.

The initial preview will be short and painless- just a quick look around, making mental notes about what to talk about with the buyer. Knowing the property to the extent of having seen it is a huge help. There is also a real effort, always, to value the time of the seller and be prompt- this could be the seller that will provide the house for my buyer.

While most sellers have a good feel for what a buyer is looking for, know that
there are additional considerations when you are selling a home on the North Fork of Long Island. Hopefully, this provides some information on what goes through the head of a buyer’s agent- and assists you in understanding the process just a little bit better.

When a good fit between the buyers, the market, and ourselves occurs, additional properties will be presented as needed. Rather than offer any limiting factors, after our initial meeting I will have a good indication of what to
search for, should the buyer not make a decision during our initial visit. The criteria may be adjusted, and at that point…THE SEARCH IS ON!

WELCOMED CHANGE IS HERE…DO YOU “GET IT”, NORTH FORK REALTORS

August 10th, 2007 category: Buyers, Real Estate News, Real Estate Philosophy, Riverhead Real Estate, Sellers, Southold Real Estate2 Comments »

A Note To North Fork, Long Island Realtors…

On Behalf Of The Home Buying and Selling Consumer: fiduciary duty: a trustee’s responsibility to act solely in the best interests of the owner or beneficiary of the trust.*

As a professional Realtor, this definition is a large part (in our opinion, the core) of your willingness to partake in the the advantages of being a part of a larger network of real estate professionals that choose to utilize the MLSLI, and separate yourselves from being a “real estate agent.”

When joining the Long Island Board of Realtors, one of the advantages is the ability to share your listings with all other Realtors, hugely increasing the possibility of locating a buyer for the property. In the interest of the buying and selling consumer, this is an advantage that cannot be ignored- it is in THEIR best interest, and as a result, provides the security for them that you are, indeed, up to the task of fiduciary.

ARE YOU, REALLY? This question is not posed to insult; rather, it is posed to provoke thought on the part of those Realtors that find themselves new to the MLSLI/Long Island Board of Realtors, and brand new to the expectations that are GREATER than the expectations that have been acceptable in the North Fork for too many years by local brokers of real estate companies.<

The challenge is larger than most can imagine for the North Fork Realtor. You likely work for a broker that eschewed the practical reasons to utilize the MLSLI service for YEARS, creating a disadvantage for the home selling consumer, in direct opposition to the new direction and requirement to put YOUR FIDUCIARY responsibility with your clients at the forefront. You’ve learned that “getting both ends” of the commission is better, somehow- a very poor bit of advice for a Realtor in our opinion, but common practice for a real estate agent in the North Fork.
If you’ve found the MLSLI to be an advantage for your consumers, PLAY STRAIGHT. It’s simple: LEARN ABOUT THE RULES, AND FOLLOW THEM TO THE LETTER. Use your own common sense, get all houses in the MLSLI immediately (as soon as the house is ready) and look FORWARD to the calls for showings. FORGET ABOUT COLLECTING BOTH SIDES OF THE COMMISSION. If it happens, it’s (opinion) problematic. Here’s WHY:

BUYER REPRESENTATION IS UPON US. IT’S ABOUT TIME, NEW YORK. Homebuyers in New York, unlike the majority of the country, have essentially been “on their own.” Your participation in their purchase has been merely a conduit- nothing more, as long as your allegiance was with the seller. THIS IS NOT THE CASE IN MOST STATES. In fact, it is the case in only a tiny handful- the rest of the country jumped on board with enthusiasm YEARS AGO, recognizing that allegiance to the consumer, regardless of which side of the fence their needs fell on, required specialized attention to the details of the transaction from the consumer perspective. FIDUCIARY- it’s now your JOB. Disclosure requirements came about for a very good reason- learn about this here.

As representatives in the real estate community serving the consumer, embracing changes (rather than the ongoing battle on the east end to do things “our way”) has no place in today’s real estate venue. It is the opinion of Options Realty, and innumerable entities outside of New York, that real estate is a CONSUMER AGENDA. It’s not about commission. It’s about doing a job well, providing fairness at all times, and cooperating with others in our field to accomplish a goal: SELLING A HOUSE.

Incredibly, it’s FUN to sell houses in most areas. Because the Realtor contingent takes the outcome of consumer experience with a cooperative understanding of the fiduciary spirit, guess who ISN’T present in most areas? YUP- the attorney contingent. There’s no need, with Realtors that put FIDUCIARY first on both sides. Explain that to a NY attorney, and you’ll get a litany of reasons that their presence is ESSENTIAL, but folks, it’s NOT. FOR NOW, a necessary component in New York. But who knows, with the advent of full understanding of FIDUCIARY on both sides of the transaction, it may reach the point, where it has in the majority of the country, that consumers may opt NOT TO INVOLVE an attorney, because the representation that they are receiving from the agents on both sides is stellar. Now, wouldn’t THAT be nice…

At Options Realty, WE LOOK FORWARD TO WORKING WITH YOU, AND WITH YOUR BUYERS AND SELLERS. Try hard to put FIDUCIARY first, because as participants in your transaction (buying or selling side) we understand and respect your position with your clients. Once it becomes habit to be “in your client’s shoes”, everything falls into place. Those that just “don’t get it” will be reported often enough to be GONE. JUST OUR OPINION at Options Realty…

Get Out, Already…It’s Not Your Life, Anymore…

July 6th, 2007 category: Real Estate News, Real Estate Philosophy, Riverhead Real Estate, Southold Real Estate4 Comments »

Having had the distinct pleasure and (let’s be real) challenge of working with the “Active Adult” set, I’ve made many observations that make me dread 55, the AGE.

HERE’S WHAT OFTEN HAPPENS TO THIS POOR CONTINGENT OF MISPLACED 55 and better NEIGHBORS IN A NOW STRANGE NEIGHBORHOOD,full of tricycles and mini basketball hoops made of gray plastic, and a strange helmet clad contingent, complete with participating parents (OUR KIDS NEVER HAD HELMETS) riding safely down the previously less traveled-by- strangers cul-de-sac…the neighborhood looks oddly the same, but different. Friends have moved, citing reasons like an out of state child or “too much yard work”…some neighbors want to travel, now that the kids are grown.

After an unnerving accident running over the neighbor’s soccer ball (good thing the pads were on the kid) the 55 and better thinks, “THAT’S annoying.” While at the same time wondering when their first grandchild will rock their world…

They start “investigating.” This is the hardest time- the exploring. As in, unload the house with memories, and lock into a “lifestyle” change. The new house is secondary to the first dilemma, by a long shot. Neighborhood of kinship is first. The kind with the clubhouse, neighbors that are on the same page (especially during cocktail hour, when recounting their own reasons for change)…and, an indoor and outdoor pool, great for the grand kids and family…and NO YARD-WORK. And often enough, LESS MONEY. But also, LESS ROOM TO BRING ALL THE STUFF. The accumulated…stuff.

This is the difficulty, the BIGGIE. Contemplating all of the accumulated stuff. But that soccer ball has made the 55 and better consider that selling all of the stuff (or giving it away) is cheaper than the subsequent lawsuit over accidentally squirting the neighbors wild toddler with a garden hose…when did kids start eating flowers? And, since when is squirting one by mistake a crime?

Landscape free, in neighborhood clubhouse, parties, new friends, or…getting rid of a few dust collectors. The progress of freedom is a long one, when a person sells new construction. Let me just say, having enjoyed the last year and a half watching all of the heartbreaking decisions, whether you bought one of the homes or not…THANK YOU! I felt your pain!

Alzheimers And Real Estate

July 4th, 2007 category: People and Places, Real Estate News, Real Estate Philosophy, Southold Real Estate2 Comments »

One of the most difficult diseases for families to accept is Alzheimer’s Disease. It is also common enough to wreak havoc on the best of financial situations if denial is present. Having experienced it first hand with my Grandmother, I’d like to share an exceptional book that will guide you through the maze. Additionally, some pointers learned the hard way.

The book is titled, “The 36 Hour Day”, authored by Nancy L. Mace MA and Peter V. Rabins, MD. Some pointers (learned the hard way, in my own experience):If behavior becomes odd- repetitive communication, name confusion (in our case, Grandma would answer the phone, “hi, LyLauriSu”- a combination of all of our names) start paying attention. Alzheimer’s creates a “void” in the memory bank. Just imagine a space in your brain that is suddenly blank. Nothing there when called upon to remember. For an interesting view, please link to: http://www.alz.org/alzheimers_disease_4719.asp

Purchase the book to have all aspects of the disease illustrated. The purpose of this blog is to assist you with the real estate end of this devastating disease. If you REMOTELY SUSPECT that your loved one is dealing with this affliction, I cannot emphasize enough the importance of making sure that you are in possession of a DURABLE POWER OF ATTORNEY . This document CANNOT be procured once the victim is unaware of the implications, so act early. What many people do not understand is that a simple power of attorney is void if the individual is deemed “incompetent” with respect to decisions being made on their behalf. A durable power of attorney permits you to assist them regardless of their mental capacity.

HERE IS WHAT OCCURRED WITH MY OUT OF STATE GRANDMOTHER:Because of the insidious gradual nature of the disease, while things seemed odd, she was able to “fool” us for a time. Unaware of her day to day, the phone calls (while occasionally alarming) were often enough normal that we delayed action. Unbeknownst to us, the predators were in full swing in her daily life. Her “lawn guy” discovered that if he brought a full bag of leaves to the door, she’d pay him. He figured out that whatever afflicted her, he could bring the same bag to her door several times a day, and she would pay him again and again. Terminix, the pest control company, was employed by her to rid her of pests. The individual employed at the company (I’ll never forget his name on all of those checks- Robert Auvil) returned several times a week, and informed her that she still had “snakes in the crawl space”. At 400-800.00 a pop, he had the checks made out to himself, several times a month. Her banker became alarmed when she appeared at the bank to withdraw a large amount of money for new siding on her house- he was aware that just a few short years earlier,Unable to stop her, it was re-sided.All the while, the alarm increased as she repeated, over and over again, that it was sweltering hot, and that Readers Digest was going to be arriving any minute with the Grand Prize. Day after day.The end result was to put her in an environment that created safety. For most families, this is the most difficult decision- after all, if her memory was leaving, pulling her out of her home would surely create further damage, wouldn’t it?

We were absolutely shocked when she not only forgot all about “home”, but embraced the new living environment. Shocked.WE DID NOT HAVE A DURABLE POWER OF ATTORNEY. In order to provide her with the best care, her house needed to be sold, and the proceeds put into an account for her care. Without the durable power of attorney, control over the sale price, and the proceeds, fell to the state of Virginia.While this in and of itself was not impossible to work with, what was enormously stressful for my mother was working with the time line. The government is not known for speed. Documentation, court appearances, the sale of personal items via auction (all proceeds recorded and reported) and the ultimate sale of the house went from simple to extraordinarily complicated. All the while, Grandma was safely ensconced in her new environment, but the bills were piling up.

For the families going through the difficulty of the disease, the hours spent dealing with the system in place adds enormous stress to an already heartbreaking situation. It’s not necessary to go through the legal aspects if you get a durable power of attorney early enough in the progress of the disease. For anyone in this situation, my heart goes out to you. You’ll get through it, and have some surprises with your loved one that you never expected- I don’t recall ever laughing with Grandma as hard as I did during one of my last visits to her house. She was hilarious, despite the disease, and enjoyed roaring with laughter.

IF YOU SUSPECT THAT A FAMILY MEMBER IS IN THE EARLIEST STAGES OF THIS DISEASE, GET A DURABLE POWER OF ATTORNEY IMMEDIATELY. IF YOU FIND YOURSELF WONDERING IF THIS MIGHT EVER AFFECT YOU, PROVIDE A DURABLE POWER OF ATTORNEY TO A TRUSTED FAMILY MEMBER.

Speak with your attorney to assist you with the decision. Some available resource links:

http://www.oag.state.ny.us/seniors/pwrat.html

http://docs.google.com/Doc?docid=dgps2bbf_45d4qfmp&hl=en_us

http://www.alz.org/living_with_alzheimers_legal_issues.asp

Real estate is often the source of funds for future care. Don’t find yourself at the mercy of a state entity to make decisions that you would be able to resolve with integrity yourself. Having the benefit of fast action, if necessary, is paramount for the safety of your family member.****This is not to be construed as legal advice. This is a real life situation that became complicated due to ignorance of the disease, and available options. Talk with your family lawyer about preventative solutions.

Naughty “North Fork, Long Island” Realtors, Part 2

June 29th, 2007 category: Buyers, Real Estate Philosophy, Riverhead Real Estate, Sellers, Southold Real Estate2 Comments »

Ok. You understand the mls system, and you’re now clear on sign rider games that limit the exposure that your home may get as a result of the silly EXCLUSIVE sign rider practice.
Don’t believe the ads; look at it this way: if Joe Shmoe is perusing Realtor.com in Garden City, and your home is not in the mls or Realtor.com, he will not have access to it. PERIOD.

Nor will his Realtor, because there is no way for a company of any size to insure that every single listing reaches the desk of every single real estate professional without the use of the MLS system.

Let’s move on to another trick of some North Fork Realtors: some companies are not offering payment in the mls system to BUYER BROKERS. This is made clear in the mls, as illustrated below.
BEFORE YOU READ FURTHER, PLEASE READ THE DEFINITION OF FIDUCIARY.

YOUR REALTOR AGREED, WHEN JOINING THE BOARD OF REALTORS, AND THE MLS SERVICE, TO THIS EXPECTATION OF BEHAVIOR when representing you, the seller.

Buyer Brokers are now very common, and absolutely no threat to you, the seller. A buyer broker simply represents the buyer- if your buyer has an attorney (as most do) then they are already receiving the benefit of a third party watching out for them. Their Realtor has a fiduciary responsibility to their buyer, in much that same way that your listing agent has a fiduciary responsibility to you, the seller.

If you are selling your home, you don’t care where the buyer comes from, as long as he is ready, willing, and able to purchase and close on your home, right? Make certain that your listing company agrees. If they don’t, use a different listing agency. You’ve agreed to a commission amount; it will likely be split between two companies. No effect on the total amount paid out that you have accepted- just split.
Because representing the buyer has taken the place of dual agency to the extent that most conscientious agents understand the dilemma (you simply cannot represent a buyer and seller adequately and with equal fairness to both) it is now required that buyers, if they choose to, sign with their real estate salesperson or broker a buyer broker agreement.

An example of the old days, without agency disclosure:
A buyer expresses an interest in your property, and calls. Your listing agent takes them through your home, and the buyer decides to make an offer. The offer includes a price lower than your listing agent understands to be your minimum, but the buyer makes it clear that this is as high as he will go. Your listing agent now faces a dilemma-encourage you to go lower than planned, or let the buyer look elsewhere.

Walk away from the full commission, or encourage you to rethink your price. A conflict of interest for you, the seller, to have representation for a buyer through your listing agent. Serving two masters rarely works.
SITUATIONS LIKE THIS OCCURRED FREQUENTLY ENOUGH THAT THE LAWS WERE CHANGED IN ORDER TO PROTECT BOTH YOU, THE SELLER, AND YOUR BUYER. The result was a disclosure of exactly who represents whom. As a buyer representative, the second buyer now has an agent that will diligently pursue obtaining the property for their buyer without compromising your position, as a seller. No temptations.

If your listing company declines to compensate a buyer broker through the commission that YOU, the seller, are paying, via the mls, then you are losing out on additional traffic and buyers to your home. Simple.

What is the reason for buyer broker exclusion, in light of the fact that it is very, very common? Once again, GREED, in this writers opinion. Why on earth limit prospective buyers, and try to force them to call the listing agency directly? It’s that pesky GET BOTH ENDS OF THE COMMISSION thing again. At your expense.

The problem is, if a buyer has signed a buyer broker agreement, they’ve demonstrated a commitment to having their interests watched out for, so they will likely pass on your house. While opinion may not count for much, it’s not rocket science- a pretty obvious elimination of prospective buyers.

If all of this was explained to you at the time of your listing agreement, and you made the decision to eliminate the buyer broker prospect, it is this writers opinion that a) you were not clear on the detrimental nature of losing out on buyers for your home or b) you are not motivated to have your home available to the buying public. This is your choice; your Realtor accommodated you.

This decision, as the consumer, is YOURS TO MAKE. At Options Realty, due to our fiduciary responsibility to you, the seller, we cannot in good conscience eliminate buyers for your home, and as a result, do not participate in this kind of exclusion. As experienced professionals, we know that it is a detriment to you, the seller.

Changes in real estate practices are upon us. Old school mentality of “get both ends” has no place in the current environment of real estate sales. It never did; but we’ll defer to local customs and ignorance as an excuse. There are no excuses, in a tougher market or ANY market, for not adhering to FIDUCIARY to the letter. Insist on it- you’re the consumer, and YOU CALL THE SHOTS. Just our opinion…

RANDOM EXAMPLES OF MLS INCONSISTENCY- AS OF JUNE 20, 2007 12:32 PM:

ML#1906189
SA (selling agency): commission amount indicated.
BA (buyer agency): 0
Br A (broker agency): 0

ML#1961151
SA:commission amount indicated.
BA:0
Br A:commission amount indicated.

ML#1907274
SA: 0
BA: 0
Br A:commission amount indicated.

ML#1941164
SA:commission amount indicated, followed by an (A)
BA: TBD
Br A: commission amount indicated

I clicked on six RANDOM mls listings; FOUR OUT OF SIX came up with problems for you, the seller. Four out of six. Frankly, if I were an out of town Realtor, I wouldn’t bother showing any of these properties. The fourth one made me laugh- who is going to show a property with “TBD”? If I wanted to show it, my offer would be a tongue in cheek 20% commission request- does “TO BE DETERMINED” mean that I can submit whatever I’d like, as the buyer broker? RIDICULOUS, in this writer’s opinion.

LET’S KEEP IT SIMPLE. OFFER TO PAY ALL PARTIES INVOLVED IN THE SUCCESSFUL SALE OF YOUR HOME; MAKE IT EASY FOR ALL BUYERS TO ACCESS YOUR PROPERTY, AND DON’T GET INVOLVED, AS A SELLER, WITH ANY EXCLUSIONS TO YOUR TRANSACTIONS THAT ARE A DETRIMENT TO YOU.

A “Whale of a Tale” (true story): a buyer in the North Fork recently wanted to buy a house through his buyer broker, all agency paperwork signed. The conversation to the listing “professional” went like this:
Buyer broker: “We have an offer on your property at ——. It’s a buyer agency offer.”
Greedy listing agent: “That property doesn’t offer buyer broker agency.”
Buyer broker: “Well, the mls states that it does.”

STOP RIGHT HERE, SELLERS. This individual, rather than having an interest in an offer on your property, is more interested in what, as a listing company, you, as a seller WON’T do (or pay). The commission has been agreed to; it doesn’t impact the amount that you’re paying, and yet…your listing agent is making it as hard as possible for people to make offers on your home. Unacceptable, when your best interests are supposed to be at the forefront.

NORTH FORK REALTORS: You have a great tool with the mls service. Use it responsibly, and with your sellers fiduciary outcome at the forefront. Don’t grasp at the disappearing double end. Just get the home sold. This market is no place for games. FIDUCIARY. PERIOD. Just this writer’s opinion…

To Home Sellers on the North Fork of Long Island

June 13th, 2007 category: Buyers, Real Estate Philosophy, Riverhead Real Estate, Sellers, Southold Real EstateNo Comments »

We noticed recently several very late entries into the multi-list Long Island real estate service. By “late entries”, we don’t mean that your home appeared a few days, or even a week after the company that you selected listed your home- we’re talking about a few months.

For those that are unclear about the Multiple Listing Service, let us explain: while fairly new to the North Fork of Long Island, the MLS opportunity was finally embraced by the local real estate community a few years ago. A service that has been in place for over 20 years, this entity places your home in a cooperative venue, permitting access to show your home to the real estate community in all of New York (The United States & World Wide). Exposure of your home is critical in order to achieve multiple offers; in addition to exposure to the real estate community, consumers (via Realtor.com) can access your property for consideration.

As the internet continues to afford marketing possibilities for your home, the mls service remains the stable go-to for the real estate industry- particularly for those agents that have potential buyers for your home. Realtor.com permits potential buyers to browse properties in their area of choice in order to narrow down possibilities.

As a home seller in a more challenging market, to be without this service is to eliminate the majority of both real estate professionals with possible buyers, and buyers seeking to purchase a home in this area. It is a marketing avenue that should be expected from your chosen real estate professional. It involves “sharing” the commission paid for your home; it involves responding immediately to prospective buyers that contact your agent having found the property on Realtor.com.

There is only one reason that makes sense for listing companies that do not utilize this very reasonably priced service in order to provide your home with necessary exposure: GREED. If your home is not immediately presented to the real estate community, re think your choice of listing agent. Check on Realtor.com within days of your listing to make sure that your property appears.

You are paying a commission that is attached to the success of your home selling. It is likely explained to you that part of this fee is for the agent, from a different real estate company, that introduces the buyer to your home. Here’s the catch: if your listing agent locates the buyer, they receive the commission in full. No sharing. Here’s the other reality: FEWER OPPORTUNITIES TO SELL YOUR HOME.

Please don’t get caught in this trap. It’s unethical to you, the seller, and an appalling breach of ethics on the part of your listing agent. It’s called, plain and simple, greed, and your largest investment should not be subject to these kinds of games. Just our opinion…

Options Realty: selling homes on the North Fork of Long Island: Riverhead, Jamesport, Aquebogue, Laurel, Mattituck, Cutchogue, Peconic, Southold, Greenport, East Marion, and Orient, New York.

Technorati Tags: Southold, Long Island, MLS, New York, North Fork, Sellers, Property, Real Esate, Buyers

Hello Bayview

June 7th, 2007 category: Buyers, North Fork Neighborhoods, People and Places, Sellers, Southold Real Estate5 Comments »

Hello, Bayview, located in Southold, New York-

Options Realty is the “new kid on the block”- we are brand new, with something to PROVE.
We have a combined 32 years of real estate experience, receiving top accolades from some of the nation’s largest home builders. We know how to market properties.

Sean Stark, the owner of Options Realty, has a family with deep ties to the Southold area, and specifically the Bayview area. Sean’s Great, Great Grandfather worked a farm in Bayview in the 1850’s and 1860’s, and built a house on Pine Neck road. Sean’s parents were the original owners of one of the “red” houses that was beautifully re-done recently. It’s a connection to the area that lasts from generation to generation…

What we offer is an opportunity for you to try something different.

Technology is making a huge impact on the ability of buyers to locate your home. We provide a service that not only offers a local flavor, but shares this area with potential buyers across the country. We focus on EXPOSURE. It is our belief that real estate is a numbers game, and sharing your property with local agents, as well as agents across New York, and the United States, will provide you with the opportunity to get the most for your home. The more you know, and the more we offer, the more you’ll gain.

WE ALSO WANT TO SAVE YOU MONEY.
Below, please find information regarding sold homes in the Bayview area. These homes were listed with various agencies in the North Fork, and the information is gathered from the multiple listing service of Long Island.
We hope that this assists with your investigation of the market. Things change daily; these are the current statistics. Please contact us at 631-727-2227 for additional details.

AT OPTIONS REALTY, WE COMMIT TO RETURNING YOUR CALL, BETWEEN THE HOURS OF 8 A.M. AND 8 P.M, MONDAY THROUGH SUNDAY, WITHIN 1/2 HOUR. TRY IT: 631-727-2227.We are located in the Old Post Office building in Riverhead, New York. We live in Southold. We are committed to you, and anxious to prove it.

Our home selling/home buying services include the towns and hamlets of Riverhead, Aquebogue, Jamesport, Laurel, Peconic, Southold, Cutchogue, Greenport, East Marion, and Orient, New York, all located in the North Fork of Long Island. Call us to sell your home; call us to buy a home. Visit www.optionsrealty.com, or view a listing at www.2220depotln.com in order to check out our individual web sites. Yours can be next!

Welcome Starbucks

May 31st, 2007 category: North Fork Neighborhoods, People and Places, Real Estate News, Real Estate Philosophy, Southold Real Estate1 Comment »

I had my first- in -forever Starbucks Mocha yesterday. At the Featherhill shopping center located in Southold, Long Island, New York, a store has just opened.

While the local community generally eschews the presence of visibly large chains and franchises, my favorite mocha flew under the radar somehow. As a small business owner, I can understand concerns about having large chains and franchises come into town- in addition to disturbing the delicate balance of charming, local venues with potentially garish looking entities that include a drive thru, it poses a genuine risk to the continued sustenance of local companies, not to mention the unique aspect of different shops with different local styles. As an area that experiences a high volume of summer traffic, disturbing the balance is a natural concern.

Interestingly, little is noted about the presence of another huge franchise entity, the Cendant Corporation. Having created a separate company that deals only in real estate, Realogy is the owner of several “local” companies, including Century 21, Corcoran, Sothebys International (Daniel Gale), and both ERA and Coldwell Banker. Quite a handful of New York real estate opportunities.

Agway is a large company, but that doesn’t detract from the wonderful store operated in Southold. The McDonalds in Mattituck gets frequent visitors that have a penchant for occasional fast food. While national drugstores are making an appearance, the Southold Pharmacy serves all of my needs, but perhaps I’ll visit the newly constructed CVS,also located in Mattituck (except, I’m always lured into the Love Lane shops, and find it hard to leave)…and what would we do without King Cullen in Cutchogue, when variety is sought? Large, and neccessary, at least to me.

Will I choose Starbucks over a local coffee provider? Yes, and no. If I want a fabulous mocha, Starbucks has my taste buds to a tee. A chain store rarely offers what the local businesses have to offer, and Starbucks doesn’t change that. It just offers a quality choice when the mocha craving hits-until now, it’s been a treat that’s been missing. That said, absolutely nothing can replace the quality breakfast sandwiches, bagels, and pastries offered in Southold- and I always order orange juice with them anyway.

I lived without Starbucks; I think that my quality of day to day would be compromised without our locally owned breakfast contingent. Another great place to stop, over coffee, and discuss your real estate needs: serving experience in real estate to Riverhead, Jamesport, Aquebogue, Peconic, Laurel, Mattituck, Southold, Cutchogue, Greenport, East Marion, and Orient!

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