Finding your Ideal Neighborhood

Every other year, the Census Bureau conducts the American Housing Survey. The most recent study finds that the two most popular reasons for choosing a certain neighborhood are how it’s laid out and its proximity to work.

What about you? What are your hot buttons? It helps both of us if you’re clear on what type of area best suits your lifestyle. This part of the process requires both soul-searching and sleuthing.

Here are a few considerations to help you create your neighborhood wish list:

• Are good schools or proximity to schools a priority?

• Is living closer to work important to you?

• Do you need a walkable neighborhood located within walking distance to shopping and other conveniences?

• Do you prefer a lively family-type neighborhood or a more sedate, private environment?

• What don’t you like about where you currently live?

That last question is especially good when you’re stuck for ideas. Sometimes knowing what you don’t want in a neighborhood is just as important as knowing what you do want.

When you share your wish lists with me, I can help you narrow down the vast array of home and neighborhood choices available. Here’s how we’ll find your perfect home and neighborhood:

• Home prices: It doesn’t do you any good to look at homes that are out of your price range, so I’ll only show you homes you can afford.
• Crime statistics: Legally, I am not allowed to speak to whether a certain area has high or low crime. I will, however, point out where you can find this information, should this be a concern.
• Outdoor amenities: If these are important to you, we’ll shop in areas with parks, trails and the like.
• School information: Although schools are important to parents, they typically don’t top the list of what is important to them in a neighborhood. If you have school-aged children, do you need to live within walking distance to their school? Will they need to take the bus?

One Final Step

Take a drive through neighborhood at different times during the day and night. The ideal times for these recognizance trips are after school lets out in the afternoon and on weekend days and nights. Don’t hesitate to get out and walk and speak with any neighbors you see.

Searching for the perfect neighborhood is akin to Google Earth. If you’ve ever used the online search application you know that you can draw back from an area by zooming out and then gradually zoom in, until you find the ideal neighborhood. That’s when we jump in the car and go find you that dream house.

3 Strategies to Getting your House Sold Quickly

 

If you’re selling your home so that you can purchase another you not only have a need for speed, but a need for the most money possible in the sale.

So, what’s the trick to getting a home sold quickly and for top dollar? Actually, there are several things you can do to speed up the process and make your home irresistible to buyers. Here are the top three:

1. Price

The main reason a home sits on the market with little attention and no offers is price. One of the immutable laws of real estate is that overpriced homes take longer to sell.

Homebuyers know what your home is worth on the current market, so pricing it higher isn’t fooling anyone. Plus, what happens is that your home will show up in the Multiple Listing Service in searches of that price range. If your home is overpriced, your competition will be newer, larger, better located or in better condition.

Keep in mind that the longer a house languishes on the market the better the chances it will eventually sell for less than market value. So, price it right from the beginning and you’ll get to take full advantage of that “honeymoon period” that all new listings enjoy.

2. Condition

To get your home sold, clean it. Sure, that sounds like basic common sense, but study after study confirms that buyers look for homes that appear to be in move-in condition. Dirty homes don’t fit that bill.

After cleaning the house, remove all the clutter. If you can fit a designer’s services into your budget, consider hiring a professional stager. Staging the home can mean the difference between getting bombarded with low offers and receiving top dollar for the home.

3. Marketing

Marketing is strictly up to your real estate agent so it is critical that you hire one that excels at marketing homes.

When interviewing agents for the job of selling your home, ask to see a marketing plan. It should include samples of past marketing efforts. Are the photos clear and compelling? Are the descriptions intriguing enough to get you to want to view the home or do they appear to be dashed off haphazardly?

BOTTON LINE

While there are other strategies that can help sell your home, these are the top three. Set the right price, get the house in tip-top shape and hire the right real estate agent.

Sell My House in Queens, Brooklyn, L.I. | How Will the Presidential Election Impact Real Estate?

 

The year 2020 will be remembered as one of the most challenging times of our lives. A worldwide pandemic, a recession causing historic unemployment, and a level of social unrest perhaps never seen before have all changed the way we live. Only the real estate market seems to be unaffected, as a new forecast projects there may be more homes purchased this year than last year.

As we come to the end of this tumultuous year, we’re preparing for perhaps the most contentious presidential election of the century. Today, it’s important to look at the impact past presidential election years have had on the real estate market.

Is there a drop-off in home sales during a presidential election year?

BTIG, a research and analysis company, looked at new home sales from 1963 through 2019 in their report titled One House, Two House, Red House, Blue House. They noted that in non-presidential years, there is a -9.8% decrease in November compared to October. This is the normal seasonality of the market, with a slowdown in activity that’s usually seen in fall and winter.

However, it also revealed that in presidential election years, the typical drop increases to -15%. The report explains why:

“This may indicate that potential homebuyers may become more cautious in the face of national election uncertainty.”

Are those sales lost forever?

No. BTIG determined:

“This caution is temporary, and ultimately results in deferred sales, as the economy, jobs, interest rates and consumer confidence all have far more meaningful roles in the home purchase decision than a Presidential election result in the months that follow.”

In a separate study done by Meyers Research & Zonda, Ali Wolf, Chief Economist, agrees that those purchases are just delayed until after the election:

“History suggests that the slowdown is largely concentrated in the month of November. In fact, the year after a presidential election is the best of the four-year cycle. This suggests that demand for new housing is not lost because of election uncertainty, rather it gets pushed out to the following year.”

Will it matter who is elected?

To some degree, but not in the overall number of home sales. As mentioned above, consumer confidence plays a significant role in a family’s desire to buy a home. How may consumer confidence impact the housing market post-election? The BTIG report covered that as well:

“A change in administration might benefit trailing blue county housing dynamics. The re-election of President Trump could continue to propel red county outperformance.”

Again, overall sales should not be impacted in a significant way.

Bottom Line

If mortgage rates remain near all-time lows, the economy continues to recover, and unemployment continues to decrease, the real estate market should remain strong up to and past the election.

« Get Your House Sold This Winter. 15 Seconds FREE Home Valuation

Source…KCM Rossmery Blog

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Sell My House in queens, Brooklyn, L.I. l It’s Not Just About the Price of the Home

 

When most of us begin searching for a home, we naturally start by looking at the price. It’s important, however, to closely consider what else impacts the purchase. It’s not just the price of the house that matters, but the overall cost in the long run. Today, that’s largely impacted by low mortgage rates. Low rates are actually making homes more affordable now than at any time since 2016, and here’s why.

Today’s low rates are off-setting rising home prices because it’s less expensive to borrow money. In essence, purchasing a home while mortgage rates are this low may save you significantly over the life of your home loan.

Taking a look at the graph below with data sourced from the National Association of Realtors (NAR), the higher the bars rise, the more affordable homes are. The orange bars represent the period of time when homes were most affordable, but that’s also reflective of when the housing bubble burst. At that time, distressed properties, like foreclosures and short sales, dominated the market. That’s a drastically different environment than what we have in the housing market now.

The green bar represents today’s market. It shows that homes truly are more affordable than they have been in years, and much more so than they were in the normal market that led up to the housing crash. Low mortgage rates are a big differentiator driving this affordability.

What are the experts saying about affordability?

Experts agree that this unique moment in time is making homes incredibly affordable for buyers.

Lawrence Yun, Chief Economist, NAR:

“Although housing prices have consistently moved higher, when the favorable mortgage rates are factored in, an overall home purchase was more affordable in 2020’s second quarter compared to one year ago.”

Bill Banfield, EVP of Capital Markets, Quicken Loans:

“No matter what you’re looking for, this is a great time to buy since the current low interest rates can stretch your spending power.”

Mortgage News Daily:

“Those shopping for a home can afford 10 percent more home than they could have one year ago while keeping their monthly payment unchanged. This translates into nearly $32,000 more buying power.” 

Forbes:

“Homeowners are the clear winners. Low mortgage rates mean the cost of owning is at historically low levels and who gains all the benefits of strong house price appreciation? Homeowners.”

Bottom Line

When purchasing a home, it’s important to think about the overall cost, not just the price of the house. Homes on your wish list may be more affordable today than you think. Let’s connect to discuss how affordability plays a role in our local market, and your long-term homeownership goals.

« Get Your House Sold This Winter. 15 Seconds FREE Home Valuation

Source…KCM Rossmery Blog

THE WHOLE DEAL: FROM HIRE US TO CLOSING

Our Marketing Systems Are Design To

TARGET & ATTRACT QUALIFY SERIOUS HOME BUYERS.

Not Those Who Will Only BUY Your Home If They Can Steal It by Making Ridiculous

Low-ball Offers!  WE PRE-APPROVE EVERY PROSPECT… visit cash4homesNY.com

For more information.

To connect with me directly,

Please call/text Rossmery 917-515-9783 or email nyhomeseller@gmail.com

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Sell My House in queens, Brooklyn, L.I. l Three Ways to Win in a Bidding War

 

With so few houses for sale today and low mortgage rates driving buyer activity, bidding wars are becoming more common. Multiple-offer scenarios are heating up, so it’s important to get pre-approved before you start your search. This way, you can put your best foot forward – quickly and efficiently – if you’re planning to buy a home this season.

Javier Vivas, Director of Economic Research at realtor.com, explains:

“COVID-19 has accelerated earlier trends, bringing even more buyers than the market can handle. In many markets, fierce competition, bidding wars, and multiple offer scenarios may be the common theme in the weeks to come.”

Here are three things you can do to make your offer a competitive one when you’re ready to make your move.

1. Be Ready

A recent survey shows that only 52% of active homebuyers obtained a pre-approval letter before they began their home search. That means about half of active buyers missed out on this key part of the process.

Buyers who are pre-approved are definitely a step ahead when it’s time to make an offer. Having a pre-approval letter indicating you’re a qualified buyer shows sellers you’re serious. It’s often a deciding factor that can tip the scale in your direction if there’s more than one offer on a home. It’s best to contact a mortgage professional to start your pre-approval process early, so you’re in the best position right from the start of your home search.

2. Present Your Best Offer

In a highly competitive market, it’s common for sellers to pick a date and time to review all offers on a house at one time. If this is the case, you may not have an opportunity to negotiate back and forth with the sellers. As a matter of fact, the National Association of Realtors (NAR) notes:

“Not only are properties selling quickly, but they are also getting more offers. On average, REALTORS® reported nearly three offers per sold property in July 2020.”

Make sure the offer you’re presenting is the best one the sellers receive. A real estate professional can help you make sure your offer is a fair and highly competitive one.

3. Act Fast

With existing homes going like hotcakes, there’s no time to waste in the process. NAR reports how the speed of home sales is ramping up:

“Properties typically remained on the market for 22 days in July, seasonally down from 24 days in June and from 29 days in July 2019. Sixty-eight percent of homes sold in July 2020 were on the market for less than a month.”

In addition, NAR notes:

“Total existing-home sales…jumped 24.7% from June to a seasonally adjusted annual rate of 5.86 million in July. The previous record monthly increase in sales was 20.7% in June of this year. Sales as a whole rose year-over-year, up 8.7% from a year ago (5.39 million in July 2019).”

As you can see, the market is gaining steam. For two consecutive months houses have sold very quickly. Essentially, you may not have time to sleep on it or shop around when you find a home you love. Chances are, someone else loves it too. If you take your time, it may not be available when you’re ready to commit.

Bottom Line

The housing market is very strong right now, and buyers are scooping up available homes faster than they’re coming to market. If you’re planning to purchase a home this year, let’s connect to discuss the trends in our current area, so you’re ready to compete – and win.

« Get Your House Sold This Winter. 15 Seconds FREE Home Valuation

Source…KCM Rossmery Blog

THE WHOLE DEAL: FROM HIRE US TO CLOSING

Our Marketing Systems Are Design To

TARGET & ATTRACT QUALIFY SERIOUS HOME BUYERS.

Not Those Who Will Only BUY Your Home If They Can Steal It by Making Ridiculous

Low-ball Offers!  WE PRE-APPROVE EVERY PROSPECT… visit cash4homesNY.com

For more information.

To connect with me directly,

Please call/text Rossmery 917-515-9783 or email nyhomeseller@gmail.com

See More Properties

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Sell My House in Queens, Brooklyn, L.I. | Should You Buy an Existing Home or New Construction?

 

Finding the right home to purchase today is one of the biggest challenges for potential buyers. With so few homes for sale and construction of newly built homes ramping up, you may be wondering if you should consider new construction in your search process. It’s a great question to ask, and one to look at from the pros and cons of what it means to buy a new home versus an existing one. Here are a few things to consider when making the best decision for your family.

New Construction  

When buying a new home, you can often choose more energy-efficient options. New appliances, new windows, a new roof, etc. These can all help lower your energy costs, which can add up to significant savings over time. With programs like ENERGY STAR, your home also helps protect the environment and reduces your carbon footprint.

Lower maintenance that comes with a newer home is another great benefit. When you have a new home, you likely won’t have as many little repairs to tackle, like leaky faucets, shutters to paint, and other odd jobs around the house. With new construction, you’ll also have warranty options that may cover portions of your investment for the first few years.

Another solid benefit to new construction is customization. Do you want a mudroom, stainless steel appliances, granite countertops, hardwood floors, an office, or a multipurpose room to homeschool your children? These items can be customized to your specific needs during the design phase. With an existing home, you’re buying something that’s already completed, so if you want to make changes, you may need to hire a contractor to help get your home ready for your family.

Existing Home

When buying an existing home, you can negotiate with the current homeowner on price, which is something you generally don’t get to do with a builder. Builders know their material and construction costs, and they have a price set for the model you’re buying. So, if you want to negotiate, then maybe an existing home will be best.

For many families, having an established neighborhood is also important. Some buyers like to know the neighbors, if it’s family-friendly, and traffic patterns before making a commitment. When you buy new construction, you won’t have a full view of some of those details until the lots around you are sold.

Finally, timing comes into play. With an existing home, you can move in based on the timeline you agree to with the sellers. With new construction, you need to wait for the house to be built. Depending on the time of the year you’re buying and the region you’re in, the weather can also be a factor in the timeframe. This is something really important to keep in mind, especially if you need to move sooner rather than later. Over the past few months with COVID-19 and social distancing regulations, some areas for new construction have been delayed.

Bottom Line

Whether you want to buy a newly built home or one that’s already established, both are great options. They each have their pros and cons, and every family will have different circumstances driving their decision. If you have questions and want to know more about the options in our area, let’s connect today so you can feel confident making a decision about your next home.

« Get Your House Sold This Winter. 15 Seconds FREE Home Valuation

Source…KCM Rossmery Blog

THE WHOLE DEAL: FROM HIRE US TO CLOSING

Our Marketing Systems Are Design To

TARGET & ATTRACT QUALIFY SERIOUS HOME BUYERS.

Not Those Who Will Only BUY Your Home If They Can Steal It by Making Ridiculous

Low-ball Offers!  WE PRE-APPROVE EVERY PROSPECT… visit cash4homesNY.com

For more information.

To connect with me directly,

Please call/text Rossmery 917-515-9783 or email nyhomeseller@gmail.com

See More Properties

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Sell My House in Queens, Brooklyn, L.I. | Builders & Realtors Agree: Real Estate Is Back

When shelter-in-place orders brought the economy to a screeching halt earlier this year, many believed the residential housing market would follow suit. Countless analysts predicted buyer demand would disappear and home values would depreciate for the first time in almost a decade. That, however, didn’t happen. It appears the opposite is taking place.

After the bottom fell out of the real estate market immediately following the shutdown, it has come roaring back – and seems to still be gaining steam. Here’s a look at two recent reports – one from the National Association of Home Builders (NAHB) and one from the National Association of Realtors (NAR) – showing this growing strength.

Builder Confidence Hits All-Time High

Last week, it was reported that applications for new home purchases with home builders were 39% higher than in July of 2019. That has builder confidence soaring.

Each month, NAHB releases its Housing Market Index, a survey of NAHB members who rate market conditions for the sale of new homes at the present time and over the next six months, as well as prospective buyer traffic for new homes.

This month, they reported that builder confidence in the market for newly-built single-family homes increased to the highest reading in the 35-year history of the series. NAHB Chairman, Chuck Fowke, explained:

“The demand for new single-family homes continues to be strong, as low interest rates and a focus on the importance of housing has stoked buyer traffic to all-time highs…Housing has clearly been a bright spot during the pandemic and the sharp rebound in builder confidence over the summer has led NAHB to upgrade its forecast for single-family starts, which are now projected to show only a slight decline for 2020.”

The number of newly constructed homes being built will be almost at the same level as last year, even though the economic shutdown crushed home building earlier in the year.

Existing Homes Are Also Selling Like Hotcakes

Last Friday, NAR released its Existing Home Sales Report. The report revealed that month-over-month sales increased by 24.7%, setting another record for the category. The Wall Street Journal reported that the increase crushed expert forecasts:

“Economists surveyed by The Wall Street Journal expected a 14.2% monthly increase in sales of previously-owned homes, which make up most of the housing market.”

Home sales increased by 8.7% year-over-year.

Lawrence Yun, Chief Economist for NAR, explained how the resale market is just as hot as the new construction market:

“The housing market is well past the recovery phase and is now booming with higher home sales compared to the pre-pandemic days. With the sizable shift in remote work, current homeowners are looking for larger homes and this will lead to a secondary level of demand even into 2021.”

In addition, the Housing Market Recovery Index, which is released monthly by realtor.com, also showed the market is recovering nicely. The latest index reading was 104.8, which means the housing market is doing better than it was in January and February of this year. As a reference, the highest point in the index was a 106.5 in early March, just prior to the health crisis setting in.

Bottom Line

Both the newly constructed and existing home sale markets are posting numbers greater than a year ago. Real estate is back. If you’re thinking of buying or selling, let’s connect so you have the expert counsel you need along the way. 

« Get Your House Sold This Winter. 15 Seconds FREE Home Valuation

Source…KCM Rossmery Blog

THE WHOLE DEAL: FROM HIRE US TO CLOSING

Our Marketing Systems Are Design To

TARGET & ATTRACT QUALIFY SERIOUS HOME BUYERS.

Not Those Who Will Only BUY Your Home If They Can Steal It by Making Ridiculous

Low-ball Offers!  WE PRE-APPROVE EVERY PROSPECT… visit cash4homesNY.com

For more information.

To connect with me directly,

Please call/text Rossmery 917-515-9783 or email nyhomeseller@gmail.com

See More Properties

SEARCH ALL HOMES FOR SALE HOME VALUATION GET AN OFFER IN 24 HOURS MARKET REPORT SELLER EGUIDE		RossMery Mosquera  Winzone Realty  917-515-9783  Licensed In: New York  Contact Me
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