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January 2015 Garden City Real Estate News - Peter Owen

12/23/2014

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Long Island Real Estate

Nassau County, NY Homes

Garden City, Floral Park, West Hempstead, Franklin Square, Mineola, Stewart Manor

Peter Owen

Licensed Real Estate Salesperson

The Donnelly Group

730 Franklin Ave, Garden City, NY 11530

(516)317-2860

Email: petero@TheDonnellyGroup.com

Hi Everyone

Happy New Year, almost!

Based on what I am seeing currently and what I have been saying for the past several months about this active market, I think this is going to be an outstanding year with prices rising nicely. Reason is there are still too many buyers and not enough sellers in Nassau County, NY, in particular in the Garden City area. This situation can only lead to higher prices as the buyers fight for fewer and fewer quality homes.

I cannot say it enough - do NOT wait until Spring to buy or sell. Spring will bring a new set of buyers, but also all the Sellers who think Spring is the only time to sell. You will face much increased competition come March and who knows what the Buyer situation will be then.

Call me if you need assistance in any Real Estate transaction or if you have any questions.

I hope you are enjoying the holiday season with family.

Lastly, visit my new Website - http://www.nassaucountynyhomes.com/ which is still evolving, and let me know what you think.

Peter Owen



2015: Year of the First-Time Home Buyer

First-time home buyers are expected to re-emerge in the new year after mostly staying out of the market in the aftermath of the housing crisis. That's one of realtor.com®'sfive top housing predictions for 2015.

"The residual financial effects of recession-driven job losses and subsequent unemployment have impeded Millennials' entry into the home-owning market," says Jonathan Smoke, chief economist for realtor.com®. "In 2015, increases in employment opportunities will empower younger buyers to return to the market and fuel the continued housing recovery. If access to credit improves, we could see substantially larger numbers of young buyers in the market. However, given a high dependency on financial qualifications, this activity will be skewed to geographic areas with higher affordability, such as the Midwest and South."



Realtor.com®'s top five housing predictions for 2015 are:

  1. Millennials to drive household formation. Households headed by Millennials are expected to see significant growth in 2015, particularly as the economy continues to make gains. Millennials are expected to drive two-thirds of household formations over the next five years, according to realtor.com®'s report. The forecasted addition of 2.5 million jobs next year, as well as an increase in household formation, are the two factors that realtor.com® points to in driving more first-time home buyers to the housing market.
  2. Existing-home sales on the rise. Existing-home sales are projected to rise 8 percent year-over-year in 2015, as more buyers enter the market. Distressed properties will make up a smaller share of that growth, unlike in 2012, when a similar increase in existing-home sales was mostly driven by distressed properties.
  3. Home prices will rise. Home prices are expected to continue to edge up in 2015, with realtor.com® forecasters predicting a 4.5 percent gain. "While first-time home buyers have many economic factors working in their favor, increasing home prices will make it more difficult to get into high-priced markets such as San Francisco and San Jose, Calif.," realtor.com® notes in its report. "As a result, first-time home buyer activity is expected to concentrate in markets with strong employment and affordability, such as Des Moines, Iowa; Atlanta; and Houston."
  4. Mortgage rates to inch up to 5 percent. In the middle of 2015, mortgage rates are expected to increase as the Federal Reserve increases its target rate by at least 50 basis points before the end of the year. That will likely bring the 30-year fixed-rate mortgage to an average of 5 percent by the end of 2015. (It's currently averaging 3.89 percent, according to Freddie Mac.) The 1-year adjustable-rate mortgage, on the other hand, is expected to rise more minimally. "Lower ARM interest rates will influence an uptick in buyer interest for adjustable and hybrid mortgages," realtor.com® notes. "While still at historic lows, rate increases will affect housing affordability for first-timers trying to break into the housing market and will be another factor pushing them to less-expensive locales."
  5. Housing affordability will decline. Affordability for homes, based on home-price appreciation and rising mortgage interest rates, will likely fall by 5 to 10 percent in 2015. However, the decline in affordability likely will be offset by an increase in salaries next year for many households. "When considering historical norms, housing affordability will continue to remain strong next year," realtor.com® notes.


Garden City



Floral Park



Malverne



Roslyn Heights



New Hyde Park



If you would like a free Comparative Listing Report to see what price you can expect in this market, just call or email me. Absolutely no obligation or pressure. I am one of the



Peter Owen

Licensed Real Estate Salesperson

The Donnelly Group

730 Franklin Ave, Garden City, NY 11530

(516)317-2860

Email: petero@TheDonnellyGroup.com

Website: http://www.nassaucountynyhomes.com/

Best, top, most trusted and dedicated agent covering Garden City, Stewart Manor, Floral Park, Malverne, Lynbrook, Roslyn Estates, and Roslyn Heights displaying a high degree of integrity, service 24/7, professional attitude and actions.



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The Garden City, NY Real Estate Market during the  Holidays

12/19/2014

1 Comment

 
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Long Island Real Estate
Central Nassau County
Garden City, Floral Park, West Hempstead, Franklin Square, Mineola, Stewart Manor
Peter Owen
Licensed Real Estate Salesperson
The Donnelly Group
730 Franklin Ave, Garden City, NY 11530
(516)317-2860
Email:
petero@TheDonnellyGroup.com
Website: http://www.nassaucountynyhomes.com/

As of today, there are only 67 houses on the market in Garden City, NY. That is extremely low and explains why the market is so unusually active in December. The buyers are clammoring for nice homes and the activity is almost like March/April. I have been telling potential sellers not to wait until Spring to place their house on the market - the buyers are waiting now.

As a full-time dedicated, trusted and capable real estate agent in the Garden City area, I have not seen this type of activity EVER during the Holidays. Give me a call if you would like to discuss your own situation. I am here to help and listen.

Peter Owen
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Happy Holidays from Peter Owen at The Donnelly Group in Garden City, NY

12/14/2014

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Wishing You the Happiest of Holiday Seasons and the New Year
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The best, most dedicated, trusted and capable real estate agent in Garden City, NY, Malverne, Floral Park, New Hyde Park, Stewart Manor, Roslyn Heights, Roslyn Estates, Mineola, East Meadow and all of Nassau County, NY


 Peter Owen

The Donnelly Real Estate Group - Garden City, NY

The best, most dedicated, trusted and capable real estate agent in Garden City, NY, Malverne, Floral Park, New Hyde Park, Stewart Manor, Roslyn Heights, Roslyn Estates, Mineola, East Meadow and all of Nassau County, NY


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December 2014 Mid Month Real Estate News for Garden City, Floral Park, West Hempstead, Franklin Square, Mineola, Malverne, Roslyn Heights - Peter Owen

12/6/2014

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Long Island Real Estate

Central Nassau County

Garden City, Floral Park, West Hempstead, Franklin Square, Mineola, Stewart Manor

Peter Owen

Licensed Real Estate Salesperson

The Donnelly Group

730 Franklin Ave, Garden City, NY 11530

(516)317-2860

Email:  petero@TheDonnellyGroup.com

December, 2014 Mid Month

Hi Everyone

 December is here and the market keeps rolling along - just amazing. If it doesn't slow down, I'm going to end up showing houses on Christmas morning in Garden City, NY as I did 3 years ago - my wife was not real pleased with me.

Too early to call, but I get the feeling the Spring Rush will now start in late January in Nassau County rather than mid February the way it did the past 2 years. In the past 5 days I have recieved 6 emails from agents, both within and outside of my own agency, pleading for new lisitngs coming on this month - they have buyers backed up just waiting for good homes. So once again, if you are thinking of selling, you are missing one heck of a sellers market right now.

Call me as the best agent in Garden City if you need assistance in any Real Estate transaction or if you have any questions. I specialize in top level of service to all of my clients.

Enjoy the holiday season and plan plenty of time for family.

Lastly, visit my new Website - NassauCountyHomesNY.com which is still evolving, and let me know what you think.

Peter Owen

Garden City
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Floral Park
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Malverne
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Roslyn Heights
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New Hyde Park
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If you would like a free Comparative Listing Report to see what price you  can expect in this market, just call or email me. Absolutely no  obligation or pressure. I am one of the best, most trusted and dedicated agents covering Garden City, Stewart Manor, Floral Park, Malverne, Lynbrook, Roslyn Estates, and Roslyn Heights displaying a high degree of integrity, service 24/7, professional attitude and actions.

Peter Owen

Licensed Real Estate Salesperson

The Donnelly Group

730 Franklin Ave, Garden City, NY 11530

(516)317-2860

Email:  petero@TheDonnellyGroup.com

Website: http://www.nassaucountynyhomes.com/

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December, 2014 Garden City and Nassau County Real Estate Newsletter - Peter Owen

12/2/2014

0 Comments

 
Long Island Real Estate

Central Nassau County

Garden City, Floral Park, West Hempstead, Franklin Square, Mineola, Stewart Manor

Peter Owen

Licensed Real Estate Salesperson

The Donnelly Group

730 Franklin Ave, Garden City, NY 11530

(516)317-2860

Email: petero@TheDonnellyGroup.com

Hi Everyone

Well the number of new listings finally slowed down a bit, but is still well ahead of past years for this season. Still, there are only 79 houses for sale in Garden Ctiy, 35 in Malverne, 10 in Roslyn Estates, and 1 - yes, only 1 in Stewart Manor. Reason is the Buyers are still active as I have been saying for the past 4 months. Buyers just won't go away, and are gobbling up the inventory that is out there. So if people are advising you to wait until Spring, I cannot say it enough - do NOT wait. Spring will bring a new set of buyers, but also all the Sellers who think Spring is the only time to sell. You will face much increased competition come March and who knows what the Buyer situation will be then.

Call me if you need assistance in any Real Estate transaction or if you have any questions.

Enjoy the holiday season and plan plenty of time for family.

Lastly, visit my new Website - NassauCountyHomesNY.com which is still evolving, and let me know what you think.

Peter Owen

Lighting Primer: Don't Be in the Dark!

Good lighting can make a room look more attractive, larger, more romantic — even safer. Help home owners make smart decisions that turn buyers on.

August 2014 | By Barbara Ballinger



Don’t let home owners struggle with what type of lamps to buy or how many lights to use inside and outside their home. Get up to speed on illumination options — bulbs, fixtures, terminology, and more — so no one’s left in the dark.
Design experts have provided REALTOR® Magazine with answers to common lighting questions, which will help you better serve your clients:

Q. How much light does a room need?
A. It depends on a room’s size, color palette, and natural light and the function it serves, says Joseph A. Rey-Barreau, consulting director of education for the American Institute of Architects and associate professor at the University of Kentucky. He says most rooms should have three different layers: ambient or general lighting that gives a room its overall light, task lighting that sheds light on an area so users can perform a function such as reading at a computer, and accent lighting that focuses on a specific architectural detail, like a coffered ceiling.

Q. How do home owners achieve specific effects in each room?
A.
They can use a mix of fixtures and lamps, depending on the room’s size and furnishings, as well as the desired brightness and color quality of the lighting, say Rey-Barreau.

Home owner Suzanne Alfieri wanted different lighting than the ceiling high hats and two pendants she had before she and her husband redid their dated 1990s kitchen. John Starck, president and CEO of Showcase Kitchens in Manhasset, N.Y., added new cans with more energy-efficient bulbs that worked better with the room’s different ceiling heights and skylight. He also installed sconces with shades on either side of a 60-inch range to add a soft glow.

Q: What about the type of lamps or bulbs?
A:
Due to the need to cut energy use, the federal government has required that certain bulbs be phased out over time, and states have instituted regulations, too. This has led to the increased use of LEDs, which are much more efficient and give off less heat than traditional incandescents. One area where they have helped greatly is in the ceiling, eliminating the “Swiss-cheese effect” caused by many cans. Though they used to cost much more than incandescents, prices for LEDs have come down – and they don’t have to be replaced as often, which helps in hard-to-reach places such as high ceilings and closets, says Ryan Ramaker, product marketing manager at Acuity Brands. Colors have also been improved to match warmer incandescents, and they work in almost all applications, both outdoors and indoors, says Michael Murphy, interior design and trends producer of Lamps Plus, a lighting retailer.

Another good option is compact fluorescent lamps, which are slightly less efficient than LEDs, yet more efficient than standard incandescents. Incandescents are still useful as halogen incandescents, particularly for table lamps and recessed lamps. Other fluorescent lights are seldom used any more, says Rey-Barreau.

Q: What should home owners look for on packaging to buy the best light?
A:
Thanks to the Federal Trade Commission’s Energy Labeling Rule, lightbulb packages must be labeled with “Lighting Facts” to help make choices, similar to how food packages are labeled with “Nutrition Facts.”

Here are three key definitions:
Lumens: Measures the amount of light produced (rather than the old method of watts, which indicated how much energy was used). A 100-watt incandescent bulb produces about 1750 lumens.

Kelvins: The color of the bulb’s light. A warm, white LED usually is rated below 3000 Kelvin, while a cooler blue is typically above 3500, says Rey-Barreau.

Color Rendering Index (CRI): Measures the accuracy of color from a lamp on a scale of 0 to 100. Higher numbers provide better color rendering. Many choices today are dimmable, which helps vary effects and avoid having a shopping mall ambience in a home, says Kelly Daiberl, design coordinator and real estate salesperson at Kinzie Real Estate Group’s custom homes division in Vernon Hills, Ill.

Q: What about cost?
A:
Rey-Barreau estimates that yearly costs are based on three hours of use daily for a year. A 13-watt CFL might cost $1.57 a year while an 18-watt CFL might run $2.17 a year for the same daily amount of light. LED bulbs cost about $15 apiece now, but might have been double two years ago. LED tape that’s one-quarter-inch is only $7 to $10 a foot and works well underneath cabinets since it’s barely visible. A 60-watt incandescent might last 1,000 hours, a typical CFL might last 10,000 hours, and a LED 50,000 hours.

Q: When should lighting choices be made in the decorating or remodeling process?
A:
Early on, and preferably before rooms are painted, patched, or wallpapered in case wiring or outlets have to be installed or holes cut for cans, chandeliers, swing-arm wall lamps, or sconces. A good example would be cove lighting, a ceiling addition that requires concealing low-voltage strips for a nice glow, says Daiberl. Choices should also be made in conjunction with furnishing plans since it’s wise to have some type of lighting close to a sofa, chair, or bed. Too often cans are installed in a ceiling willy-nilly rather than with a purpose in the room design. Usually, 5-inch-diameter cans should be spaced 6 to 8 feet apart in a 9-foot high ceiling. Many room lighting systems allow home owners to alter moods from their computer, phone, or tablet without great cost.

Q: What are some helpful tips for sellers?
A:
Advise home owners to be sure their electrical panel is updated to a minimum of 200 amps. Also, tell them to play up positive features such as exterior specimen trees and walkways and interior features such as furnishings, architectural structures, or artwork. Every lamp or fixture should be in good working order with the right lumens and bulbs, and fixtures should be squeaky clean. The biggest mistake home owners make is using inappropriate lighting in a room. Remember, lighting needs to change over the course of a day.

Q: Finally, any trends home owners should know about?
A:
When it comes to fixtures, Lamps Plus’ Murphy notes a trend for antique bronze, blue hues, exaggerated sizes, floor lamps, and the continued appeal of Mid-Century Modern designs.

Garden City



Floral Park



Roslyn Heights



Malverne





If you would like a free Comparative Listing Report to see what price you can expect in this market, just call or email me. Absolutely no obligation or pressure. I am one of the best, most trusted agents covering Garden City, Stewart Manor, Floral Park, Malverne, Lynbrook, Roslyn Estates, and Roslyn Heights displaying a high degree of integrity, service 24/7, professional attitude and actions. I also specialize in Expats seeking homes in Garden City and all of Nassau County.

Peter Owen

Licensed Real Estate Salesperson

The Donnelly Group

730 Franklin Ave, Garden City, NY 11530

(516)317-2860

Email: petero@TheDonnellyGroup.com

Website: http://www.nassaucountynyhomes.com/







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Checklist for Expatriots coming back to Nassau County, NY and the Garden City area

12/1/2014

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Summary: You adjusted to expat life and survived the phases of culture shock. Going home will be easy, right? Wrong. Many former expats describe repatriation as incredibly challenging. This checklist gives great advice for preparing to go home starting a year before your move.

One of my most profound and interesting life experiences occurred when I spent six months living and working in Dublin. Participating in the activities of daily life in an unfamiliar culture and forming close friendships with Irish colleagues and associates, I began to see the world from a different perspective. I felt that I was constantly learning new things, and I was eager to bring as much of this knowledge back with me as possible. Yet coming home, as I was about to learn, would not be so easy. Indeed, reconnecting with friends and family after an extended stay abroad can be one of the difficulties of repatriating, along with other psychological and practical complexities of beginning a "new life" at home. Coming home can seem deceptively simple-after all, the culture is familiar, as are the basic functions of moving back into one's home, enrolling children in school, and the like. Yet, many repatriating families experience a sense of alienation in their own country. The following timeline offers practical and psychological preparations as early as a year before repatriation to ensure a relatively smooth transition back home. 9-12 Months Prior to Repatriation
  • Confirm the date of your repatriation (and your family's, if different) with home and host supervisors and HR, then inform colleagues, family, and friends.
  • Notify HR of any dissatisfaction with vendors used in the initial move and your reluctance to have them assist you again.
  • Discuss your upcoming repatriation with close friends at the host location; fellow assignees or those who have traveled extensively may have helpful insights.
  • Plan ways to savor and celebrate your final months abroad.
  • If suitable, keep a journal of changes and challenges you and your family experience.
6-9 Months Prior to Repatriation
  • Schedule an exit interview with your host supervisor.
  • Initiate a preliminary discussion with your home-country supervisor about newly acquired professional skills and how your experience will affect your job at home.
  • Make a financial plan for your return (consider your out-of-pocket expenses in each location), and keep records of all reimbursable items for expense reports.
  • Discuss with HR when to stop or reduce host-location salary payments to avoid accumulating host currency you will be unable to spend (and on which you will lose when converting back to home-country currency).
  • Consult your tax adviser and HR regarding any tax requirements and other compliance issues to be resolved before you leave the host location.
  • Discuss with HR any housing-related preparation-notifying the landlord, vacating your foreign residence, having the property inspected, reclaiming the security deposit, disconnecting utilities, and selling furniture and appliances.
  • Notify the home-country property manager to vacate your residence of any tenants, or contact home-country HR if real estate services are necessary.
  • Notify host schools of departure, recover deposits and fees, and obtain copies of records, recommendations, curriculum descriptions, and so forth. Likewise, notify home-country schools of reenrollment, fill out documentation, make deposits, and handle related activities.
  • Cancel local club memberships and recover deposits or dues.
  • Inform your spouse's employer and volunteer associations at the host location, and recover any unpaid salary. Also notify similar parties in the home country regarding availability to resume work or other activities.
  • Arrange for return shipping of household goods (and pets) and removal of goods from storage.
1-6 Months Prior to Repatriation
  • Confirm with the property manager that your residence will be ready for occupancy (or consult a home-finding service, if appropriate). If needed, arrange for temporary accommodations in both locations, according to company policy.
  • Reserve seats and purchase air tickets for the trip home.
  • Arrange to close local bank accounts and transfer funds to your home-country bank, but cancel renters' insurance on current local goods after you repatriate.
  • Halt mail forwarding from home and begin mail forwarding from overseas when ready.
  • Notify home and host supervisors, HR, and your tax adviser of home-country work and residential addresses, telephone/fax numbers, and e-mail addresses.
  • Take advantage of available repatriation counseling.
  • Set aside time to say goodbye to local friends and colleagues, making plans to stay in touch with those with whom you wish to keep in contact.
  • Write a summary of your personal and professional experiences, considering how they apply to your "new" home life and affect your personal and professional goals.
  • Gather mementos and photos to share with family and friends and to remind you of your experience.
Post-Repatriation
  • Discuss with your supervisor the overall assignment and its effect on your current job and future career, and how you now bring added value to your work.
  • Complete and submit expense reports for relocation items.
  • Stay in touch with your host-location friends and colleagues, as you wish.
  • Seek out coworkers with similar experiences and consider forming a support group or seeking a mentor. Volunteer to give advice or meet with colleagues going abroad. Attend follow-up repatriation training and read about reverse culture shock.
  • Continue language study begun while abroad. Subscribe to an international periodical. Investigate local organizations with a global focus to meet others who have lived abroad. Volunteer with immigrants, foreign nationals, or exchange students.
  • Reflect on your individual and shared family struggles, successes, and things that now seem "foreign" at home. Share some of your journal observations with your family; write a memoir or a travel article for a local newspaper.
  • Submit to HR a critique of your assignment, highlighting the best parts, along with constructive suggestions for program improvements.
Above all, treat repatriation as if you are embarking on a new assignment-to your own home! All the same practical preassignment details require your attention again, as everything done previously needs to be undone. Be aware that reverse culture shock may lead to a feeling that your home country is also a bit foreign. By planning ahead, keeping in close touch with key company personnel, and recognizing some of the practical and psychological challenges, you can prepare yourself to make the most successful transition possible.

If considering buying a house for your family on return, consider Nassau County, NY and  more specifically Garden City, NY. This town is ideal for returning executives.  I am here to assist expats find a house in Garden City, NY or all Nassau County, NY. I am considered one of the best Garden City, NY real estate agents.
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