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No matter how carefully home buyers do their homework, certain tasks on the home-buying to-do list often fall through the cracks. And not tiny ones, either! We’re talking about oversights that can lead to major money down the drain, battles with local government or the homeowners association, and other regret-filled dramas that could have been easily avoided—that is, had home buyers known where these issues were hiding a bit earlier.
Don’t let this happen to you! Review some of the top things buyers forget to do when shopping for a home. Oversight No. 1: Considering the home’s resale valueSure, you’re buying a home. And yet, you must think like a seller. “Few buyers stay in their homes for 30 years like our parents did,” says real estate expert Brendon DeSimone, author of “Next Generation Real Estate.” “Today, people are more mobile and things change quickly, like job transfers. Life happens.” And that’s why home buyers should consider how easy a home will be to sell later on—and stick to properties with broad appeal rather than quirks that appeal only to a rare few, like a kitchen in the basement or brightly colored bathroom tiles. “Talk to your agent about trends in your neighborhood and whether they think your home would sell for the same amount two years, five years, or 10 years down the road,” advises Realtor® Avery Boyce of Washington, DC’s Compass Real Estate. “Buying a home should make financial sense now, but if circumstances make this home no longer the right one within a few years, you don’t want to be in a tricky financial situation while trying to sell.” Oversight No. 2: Factoring in the expenses you’ll face after you buy“People focus so much on mortgage payments and closing costs,” says DeSimone. “What they don’t realize, until after the fact, is that there are expenses like oil or propane and landscaping that are built into homeownership.” To make sure the bottom line will be within your means, ask the seller for a property expense list to get an idea of what you will actually be paying out each month. Then, consider the reserve that you’ll need for typical maintenance. Rule of thumb: Plan on setting aside 1% of the home’s total value annually for upkeep and repairs. Oversight No. 3: Rooting out any restrictionsAll too often buyers learn the hard way that their property comes with restrictions. Say, they can’t park wherever they want, or they discover their house is within a historic district that prohibits renovations or additions to a home. “Buyers will need to check with the city, review the preliminary title report and seller disclosures,” says Beverly Hills, CA, Realtor Steven Aaron. For good reason: Once you become the owner, any restorations fall on you. Zoning, title issues, or covenants go with the property, not the seller. Oversight No. 4: Checking that past work was up to codeThe seller is responsible for disclosing any renovations, nonpermitted work, and items not up to code. But just as things aren’t always done to the letter, sellers aren’t always totally honest about what’s been changed—or how. That’s why buyers need to check any and all past permits to make sure that the work was done and signed off on by the local municipality, says DeSimone. Please, Mr. PostmanSend me news, tips, and promos from realtor.com® and Move. Sign Up“If you see a newer bathroom or bonus room or kitchen, and there is no permit on record, that’s a huge red flag because once you own it, and you go to do any work or apply for a permit and they see work was done without a permit, you will be responsible for it.” Why is that such a big deal? Consider this: “If it was done improperly, or not to code, you may have to tear it out and start over again.” Oversight No. 5: Getting the scoop on the HOA“Never close on a home without doing serious due diligence on the homeowners association,” says DeSimone. While HOAs are ideally supportive and make living in a community convenient, some have been known to have a darker side complete with corruption and drama. Just ask Greensboro, NC, parents Jessica and Karl Ronnevik, whose HOA recently threatened them with a fine if they didn’t quiet their 1-year-old baby’s crying. “And if there is an upcoming assessment, or there are delinquent homeowners,” says DeSimone, “the HOA, and you, will have to cough up the money to cover it!” Oversight No. 6: Doing your homework on the neighborhoodCrime rates, school rankings, and traffic patterns, oh my! The home itself is just one aspect of what makes a property a good buy. Buyers often forget that “the neighborhood should be inspected as much as the property,” says DeSimone, who insists that shoppers should walk their block at different times of the day and talk to neighbors to get a better feel. After all, the house may be gorgeous, but if you’re unhappy with your neighbors or the overall environment outside your door, it probably isn’t the right place for you. Long Island Real Estate
Nassau County, NY Homes Peter Owen Licensed Real Estate Salesperson Better Homes & Gardens Atlantic Shores 55 Hilton Ave, Garden City, NY 11530 (516)317-2860 Email: Peter.Owen@BHGliving.com August, 2016 Hi Everyone Well, I am writing from my new Agency - Better Homes and Gardens Atlantic Shores on Hilton Ave. in Garden City. Hopefully you saw my last email in Mid July announcing the change and is shown below. The market looks pretty much the same as in June. The normal July/August slowdown has taken effect as people do their normal summer activities. I expect the market to pick up nicely in September. So if you are selling and are not getting any lookers, try not to get discouraged for another month or so. On the other hand, if your house has been on the market for the past 4 months without an offer and you don't know why, you may have the wrong agent. I don't like blasting other agents and I won't, but suffice it to say communication between Seller and Agent is paramount. Have a great vacation if you haven't take none yet. As always, I'm here to help if you need me. Peter Owen I have changed Agencies in Garden City. As of today, I am now associated with the Better Homes & Gardens Atlantic Shores Realtywhich will open shortly at 55 Hilton Ave, Garden City. My new contact details are shown above and below. The time was right to make the change and I am very excited to be part of this realtor who is gradually taking over Long Island. You know the name, and the quality it stands for. You can expect the same great service from me in all real estate transactions. You might get several emails from me announcing the change, so please make sure you change my email address in your Contacts List. My cell is the same (516)317-2860. Enjoy the great summer weather. Peter Owen The Versatile Murphy BedHome office by day, comfy guest bedroom by night. Murphy beds are making a comeback as home owners seek to maximize their space. A charming, retro space-saver is back in style. The Murphy bed, which can be flipped up inside a closet or cabinet when not in use, provides versatility in dwellings ranging from studios to country homes. Once a favorite prop for comedians in early 20th century silent film era, the Murphy bed is now seeing its real heyday—especially in upscale urban lofts—some real estate practitioners and interior designers say. "There's a demand for it," says William Robbins, a Columbus, Ohio real estate practitioner. "But at the same time, it's not widely available." Robbins is surprised by how few people actually know about the Murphy bed, considering what a boon it would be for home owners who are short on space. He once told a client that thought a Murphy bed would be useful, but “in return, all I got was a blank stare," he recalls. At least one of his friends appreciates the versatility, and has one ready for guests in a spare bedroom. "She loves it," he says. The Murphy bed got its name from its inventor, William Murphy, a Stockton, Calif., stagecoach driver. He and his wife didn't have enough room to entertain in their small San Francisco home, so he created a way to make his bed disappear when company was over. Murphy patented his invention in 1912, and the space-saver became instantly popular in apartment buildings nationwide. Architects would design buildings with closets large enough to fit the popular bed. By the 1920s, Murphy had showrooms across the country. During the Depression, Murphy consolidated his business and moved to New York City. Unfortunately, his wall bed design lost popularity, especially after World War II when Americans moved into large homes in the suburbs. The Murphy, as the bed is sometimes known, didn't see a resurgence until the late 1970s and early 1980s when the oil embargo kicked in and Americans downsized, says Eugene Kolakowski, vice president of Murphy Bed Co. Inc., of Farmingdale, N.Y. The bed became even more widespread after a 1989 court ruling, in which Murphy beds lost trademark protection. At that point, knock offs entered the market in droves. By the 1990s, the Murphy bed evolved into a sophisticated system complete with cabinetry. Empty nesters put them in home offices or dens for visiting grandchildren, while landlords began retrofitting 1950s-era originals. But even today, some misconceptions exist—probably due to those funny silent films mentioned earlier. The biggest fallacy is probably that the bed can fold up while someone is sleeping on it, or fall down out of the wall unexpectedly. Not true, says Kolakowski: "They're designed so that they lean back into the closet, so they can never fall out," says Kolakowski. Many people also think that the beds can't be moved to a new residence, as traditional beds can be. In fact, current models can be disassembled and transported to another location. A well-made bed can last 50 to 60 years. It's a good thing, top-of-the-line beds aren't cheap. Prices for Murphy Bed Co. Inc's products range from $715 for an "econo" twin to $1,280 for a California king. Mattresses range from $305 to $795, and cabinetry can add as much as $2,420 to the total price. Robbins says developers would be smart to offer a built-in Murphy as an upgrade in a small apartment. The customization would distinguish the unit from similar ones on the market. That's definitely the case in New York City, where the beds have long been in vogue and even the well-to-do often live in tiny, expensive rentals. Harold Stark Industrial Development installed the space-savers in a renovated 50-year-old apartment building. "They give a little more room during the day," says company spokesperson Peggy Dragone. If a listing has a Murphy bed, look for these features:
After Becky and Tom Stilp had a pool house built at their summer home near New Buffalo, Mich., they had a queen-sized Murphy bed installed inside. It can be opened and closed with a set of sliding doors on a barn-door track. The bed gets used by relatives and friends who come over for barbecues and holiday parties. Indeed, versatility is the best feature of Murphy beds, says Kolakowsky. A bedroom by night can turn into a sewing room or exercise room by day. And today's models are cinch to open and close. "Even a seven-year-old can operate one," says Kolakowski. Local Real Estate STATS Market Snapshot for Garden City Today1 Month Ago1 Year AgoTotal Inventory119 139 -14% 156 -23% Median List Price$929,000 $949,000 -2% $879,000 +5% % Distressed 0% 0% 0% Median Days on Movoto64 59 +8% 55 +16% Median House Size2,462 2,482 2,741 -10% Median $/Sq. Ft.433 431 460 -5% Market Snapshot for Floral ParkToday1 Month AgoTotal Inventory65 58 +12% Median List Price$569,000 $565,000 % Distressed 1% 1% Median Days on Movoto52 48 +8% Median House Size1,791 1,748 +2% Median $/Sq. Ft.350 361 -3% Market Snapshot for Malverne Today1 Month Ago1 Year AgoTotal Inventory23 26 -11% 44 -47% Median List Price$509,000 $519,000 -1% $449,000 +13% % Distressed 4% 3% 0% Median Days on Movoto77 59 +30% 64 +20% Median House Size2,016 1,957 +3% 1,692 +19% Median $/Sq. Ft.283 283 273 +3 Market Snapshot for Roslyn Today1 Month Ago1 Year AgoTotal Inventory116 121 -4% 60 +93% Median List Price$1,388,000 $1,385,000 $899,000 +54% % Distressed 0% 0% 0% Median Days on Movoto80 73 +9% 42 +90% Median House Size3,767 4,104 -8% 2,453 +53% Median $/Sq. Ft.454 462 -1% 384 +18% 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. Peter Owen Licensed Real Estate Salesperson Better Homes and Gardens Real Estate Atlantic Shores 55 Hilton Avenue, Suite 100 Garden City, NY 11530 Office: (516)444-3939 Cell: (516)317-2860 Fax: (516)444-3940 Email: peter.owen@bhgliving.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. Click here to Long Island Real Estate Nassau County, NY Homes Floral Park, Garden City, Manhasset Peter Owen Licensed Real Estate Salesperson Better Homes & Gardens Atlantic Shores 55 Hilton Ave, Garden City, NY 11530 (516)317-2860 Email: Peter.Owen@BHGliving.com July Mid Month, 2016 Hi Everyone Very Big News for Me - I have changed Agencies in Garden City. As of today, I am now associated with the Better Homes & Gardens Atlantic Shores realty which will open shortly at 55 Hilton Ave, Garden City. My new contact details are shown above and below. The time was right to make the change and I am very excited to be part of this realtor who is gradually taking over Long Island. You know the name, and the quality it stands for. You can expect the same great service from me in all real estate transactions. You might get several emails from me announcing the change, so please make sure you change my email address in your Contacts List. My cell is the same (516)317-2860. Enjoy the great summer weather. Peter Owen Why the Word 'Green' Doesn't Really Matter Just as real estate professionals are struggling to understand what defines advances in efficiency and smart-home technology, appraisers are also working to help define and quantify what this trend means for home sales now and in the near future. Today, more and more homes are being built or retrofitted as “green" or “high-performance" properties. But what exactly qualifies a home as truly green, and how are these new features recognized in the marketplace? Real estate professionals, appraisers, and even some home owners are asking these questions, and The Appraisal Foundation is attempting to answer them as part of a five-year partnership with the U.S. Department of Energy. What Exactly Is a Green Home? Simply put, a green or high-performance home is one designed to use less energy or water or improve indoor air quality. However, just because a home has new windows or low-flow water features doesn't make it automatically “green" or “high-performance." Such descriptors are usually reserved for properties that have a combination of a wide variety of features. The spectrum of energy-efficient characteristics a home may possess can make the appraisal process complicated. A number of rating and certification systems have emerged in recent years that can help identify these types of properties. However, ratings can't catch everything; most residential properties currently have green or high-performance elements that haven't been documented by such programs and therefore may be difficult to identify. This makes a real estate professional's communication with an appraiser even more vital in such transactions. Most recently, the Foundation's Appraisal Practices Board (APB) issued guidance to help appraisers with this topic. Two advisories that real estate pros might find helpful to review are Valuation of Green and High Performance Property: Background and Core Competency and Valuation of Green and High Performance Property: One to Four-Unit Residential. Or, learn more about APB's Valuation Advisories here. For homes with green or high-performance features, appraisers need to answer more than just the simplistic question of whether they are green or high-performance homes. They want to understand the features that make it green or efficient. They also need to know how green the property is relative to what buyers in this particular marketplace are expecting. This is why the actual terms “green" and “high performance" are not the most important concern. Instead, the appraiser's job is to note the features a property has, understand how the market values those features, and determine whether those features have any particular relevance to their appraisal assignment. How Do Appraisers Recognize These Features? Appraisers might identify the high-performance features of a property through a wide variety of sources: the review of building plans and specifications, permits, MLS information, and interviews with property owners and occupants, among others. Appraisers may also observe green features first-hand when inspecting a property. They might also look at third-party sources, including ratings and certifications from Energy Star (administered by EPA), LEED (from the U.S. Green Building Council), and HERS (conveyed by Residential Energy Services Network professionals). One major challenge for appraisers in this situation is the lack of verifiable data about energy efficiency. Although the fundamental appraisal process is no different for a green home, many MLSs and other data sources were designed a long time ago, before there was a way to convey accurate or complete information regarding a home's energy-efficient features. However, because green homes have become more prominent in recent years, many MLSs are updating their systems to ensure this type of information is being captured and accurately reported. Appraisers all around the country are working with agents and brokers in an attempt to identify the type and extent of data that will help facilitate smooth transactions. In the interim, this challenge for the appraiser may offer an excellent opportunity for the real estate professional. Providing crucial information about a property that might otherwise be unavailable to the appraiser may not only assist in facilitating the immediate transaction, but could also pay future dividends by helping to create more informed and knowledgeable appraisers and a more complete MLS database. Does Green Mean Dollars? While a home with photovoltaic solar electricity might be at the top of some buyers' wish lists, others may not be quite as enamored. In some markets green homes are all the rage, while others may be quite tepid about such upgrades. But that's the way it is with many other home features, and it's important that appraisers can recognize and account for them properly in order to develop credible opinions about value. At the end of the day, it's the buyers and sellers who determine how much any particular feature contributes to a home's value. For a successful transaction, it's important that the appraiser and real estate professional are on the same page with consumers. Market Snapshot for Garden City Today1 Month Ago1 Year AgoTotal Inventory100 117 -14% 106 -5% Median List Price$775,000 $775,000 $875,000 -11% % Distressed 4% 3% 0% Median Days on Movoto— — 96 -100% Median House Size2,220 1,913 +16% 2,237 Median $/Sq. Ft.400 414 -3% 472 -15% Market Snapshot for Floral Park Today1 Month Ago1 Year AgoTotal Inventory75 87 -13% — Median List Price$539,000 $539,900 — % Distressed 5% 4% — Median Days on Movoto— — — Median House Size1,864 1,936 -3% — Median $/Sq. Ft.322 326 -1% — Market Snapshot for Malverne Today1 Month Ago1 Year AgoTotal Inventory28 35 -20% 35 -20% Median List Price$465,000 $449,000 +3% $425,000 +9% % Distressed 7% 8% 0% Median Days on Movoto— — 105 -100% Median House Size1,714 1,692 +1% 1,500 +14% Median $/Sq. Ft.276 268 +2% 270 Market Snapshot for East Meadow Today1 Month Ago1 Year AgoTotal Inventory75 92 -18% 91 -17% Median List Price$459,000 $469,000 -2% $449,000 +2% % Distressed 2% 4% 2% Median Days on Movoto— — 74 -100% Median House Size1,800 1,829 -1% 1,906 -5% Median $/Sq. Ft.270 259 +4% 250 +8% 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. Peter Owen Licensed Real Estate Salesperson Better Homes and Gardens Real Estate Atlantic Shores 55 Hilton Avenue, Suite 100 Garden City, NY 11530 Office: (516)444-3939 Cell: (516)317-2860 Fax: (516)444-3940 Email: peter.owen@bhgliving.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 actio Long Island Real Estate Nassau County, NY Homes Floral Park, Garden City, Manhasset Peter Owen Licensed Real Estate Salesperson Better Homes & Gardens Atlantic Shores 55 Hilton Ave, Garden City, NY 11530 (516)317-2860 Email: Peter.Owen@BHGliving.com July Mid Month, 2016 Hi Everyone Very Big News for Me - I have changed Agencies in Garden City. As of today, I am now associated with the Better Homes & Gardens Atlantic Shores realty. My new contact details are shown above and below. The time was right to make the change and I am very excited to be part of this realtor who is gradually taking over Long Island. You know the name, and the quality it stands for. You can expect the same great service from me in all real estate transactions. You might get several emails from me announcing the change, so please make sure you change my email address in your Contacts List. My cell is the same (516)317-2860. Enjoy the great summer weather. Peter Owen Why the Word 'Green' Doesn't Really MatterJust as real estate professionals are struggling to understand what defines advances in efficiency and smart-home technology, appraisers are also working to help define and quantify what this trend means for home sales now and in the near future. Today, more and more homes are being built or retrofitted as “green" or “high-performance" properties. But what exactly qualifies a home as truly green, and how are these new features recognized in the marketplace? Real estate professionals, appraisers, and even some home owners are asking these questions, and The Appraisal Foundation is attempting to answer them as part of a five-year partnership with the U.S. Department of Energy. What Exactly Is a Green Home? Simply put, a green or high-performance home is one designed to use less energy or water or improve indoor air quality. However, just because a home has new windows or low-flow water features doesn't make it automatically “green" or “high-performance." Such descriptors are usually reserved for properties that have a combination of a wide variety of features. The spectrum of energy-efficient characteristics a home may possess can make the appraisal process complicated. A number of rating and certification systems have emerged in recent years that can help identify these types of properties. However, ratings can't catch everything; most residential properties currently have green or high-performance elements that haven't been documented by such programs and therefore may be difficult to identify. This makes a real estate professional's communication with an appraiser even more vital in such transactions. Most recently, the Foundation's Appraisal Practices Board (APB) issued guidance to help appraisers with this topic. Two advisories that real estate pros might find helpful to review are Valuation of Green and High Performance Property: Background and Core Competency and Valuation of Green and High Performance Property: One to Four-Unit Residential. Or, learn more about APB's Valuation Advisories here. For homes with green or high-performance features, appraisers need to answer more than just the simplistic question of whether they are green or high-performance homes. They want to understand the features that make it green or efficient. They also need to know how green the property is relative to what buyers in this particular marketplace are expecting. This is why the actual terms “green" and “high performance" are not the most important concern. Instead, the appraiser's job is to note the features a property has, understand how the market values those features, and determine whether those features have any particular relevance to their appraisal assignment. How Do Appraisers Recognize These Features? Appraisers might identify the high-performance features of a property through a wide variety of sources: the review of building plans and specifications, permits, MLS information, and interviews with property owners and occupants, among others. Appraisers may also observe green features first-hand when inspecting a property. They might also look at third-party sources, including ratings and certifications from Energy Star (administered by EPA), LEED (from the U.S. Green Building Council), and HERS (conveyed by Residential Energy Services Network professionals). One major challenge for appraisers in this situation is the lack of verifiable data about energy efficiency. Although the fundamental appraisal process is no different for a green home, many MLSs and other data sources were designed a long time ago, before there was a way to convey accurate or complete information regarding a home's energy-efficient features. However, because green homes have become more prominent in recent years, many MLSs are updating their systems to ensure this type of information is being captured and accurately reported. Appraisers all around the country are working with agents and brokers in an attempt to identify the type and extent of data that will help facilitate smooth transactions. In the interim, this challenge for the appraiser may offer an excellent opportunity for the real estate professional. Providing crucial information about a property that might otherwise be unavailable to the appraiser may not only assist in facilitating the immediate transaction, but could also pay future dividends by helping to create more informed and knowledgeable appraisers and a more complete MLS database. Does Green Mean Dollars? While a home with photovoltaic solar electricity might be at the top of some buyers' wish lists, others may not be quite as enamored. In some markets green homes are all the rage, while others may be quite tepid about such upgrades. But that's the way it is with many other home features, and it's important that appraisers can recognize and account for them properly in order to develop credible opinions about value. At the end of the day, it's the buyers and sellers who determine how much any particular feature contributes to a home's value. For a successful transaction, it's important that the appraiser and real estate professional are on the same page with consumers. Market Snapshot for Garden City Today1 Month Ago1 Year AgoTotal Inventory100 117 -14% 106 -5% Median List Price$775,000 $775,000 $875,000 -11% % Distressed 4% 3% 0% Median Days on Movoto— — 96 -100% Median House Size2,220 1,913 +16% 2,237 Median $/Sq. Ft.400 414 -3% 472 -15% Market Snapshot for Floral Park Today1 Month Ago1 Year AgoTotal Inventory75 87 -13% — Median List Price$539,000 $539,900 — % Distressed 5% 4% — Median Days on Movoto— — — Median House Size1,864 1,936 -3% — Median $/Sq. Ft.322 326 -1% — Market Snapshot for Malverne Today1 Month Ago1 Year AgoTotal Inventory28 35 -20% 35 -20% Median List Price$465,000 $449,000 +3% $425,000 +9% % Distressed 7% 8% 0% Median Days on Movoto— — 105 -100% Median House Size1,714 1,692 +1% 1,500 +14% Median $/Sq. Ft.276 268 +2% 270 Market Snapshot for East Meadow Today1 Month Ago1 Year AgoTotal Inventory75 92 -18% 91 -17% Median List Price$459,000 $469,000 -2% $449,000 +2% % Distressed 2% 4% 2% Median Days on Movoto— — 74 -100% Median House Size1,800 1,829 -1% 1,906 -5% Median $/Sq. Ft.270 259 +4% 250 +8% 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. Peter Owen Licensed Real Estate Salesperson Better Homes and Gardens Real Estate Atlantic Shores 55 Hilton Avenue, Suite 100 Garden City, NY 11530 Office: (516)444-3939 Cell: (516)317-2860 Fax: (516)444-3940 Email: peter.owen@bhgliving.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. Long Island Real Estate Nassau County, NY Homes Floral Park, Garden City, Manhasset Peter Owen Licensed Real Estate Salesperson The Donnelly Group 730 Franklin Ave, Garden City, NY 11530 (516)317-2860 Email: petero@TheDonnellyGroup.com August Mid Month, 2015 Hi Everyone August is always the slow-down month. This happens since many of the buyers have already bought and are enrolling their kids in the new school system for September. The other reason is August is the primary vacation month. This August is no different and the market has slowed down, but it is still quite active. The buyers once again this year have not gone away. There just were not enoungh houses on the market in the Spring to satisfy demand, so a lot of buyers are still looking. I have one house which was listed 4 weeks ago and received 9 bids. So Do NOT think you have "missed the market" if you did not list your house in the Spring. Let me know if you need assistance with any real estate question, concern or transaction. Peter Owen A Different Kind of Dining RoomDespite rumors of its demise, the dining room is not disappearing, but going through a transformation as homes get smaller and more energy-efficient and low-maintenance. Often thought of as a place mostly for enjoying holiday dinners and birthday celebrations, the dining room is morphing into a friendlier, more intimate space as home owners try to maximize existing square footage rather than add on. One popular trend today is to take down a wall between the dining room and kitchen to fashion one big, casual cooking and eating space, which can also be used for watching a movie or using a computer, says interior designer Janell Rasper of Callen Construction Inc. in Muskego, Wis. Those who build from scratch today often go for a simpler approach: In addition to fewer bedrooms and smaller garages, people frequently opt for more casual living and eating spaces, an open great room with a corner for dining, or a smaller dining room, according to the most recent New Homes Started survey from the National Association of Home Builders in Washington, D.C. “Home owners worried about costs are interested in making trade-offs today," says Stephen Melman, NAHB's director of Economic Services, Economics and Housing Policy. Tom Hackett of Orren Pickell Designers & Builders in Lake Bluff, Ill., says his firm regularly scales back on the size of most dining rooms and lowers once-high ceilings for warmth and intimacy. More dining rooms also have become multipurpose with bookshelves, a bar, or paneling that opens to a desk for an at-home office. And some of these rooms are placed at the center of the house so they lie within the main traffic flow to attract attention and use, Hackett says. You can help your buyers and sellers analyze a dining room's importance by discussing the following possibilities, based on how they live. The ultimate goal: to feed the eyes and make the space functional. Color It Bold The dining room can be bolder and more colorful than other rooms since it's often used less frequently, says color consultant Amy Wax of Your Color Source in Montclair, N.J. But Wax advises showcasing just one element with bold color such as walls, furniture, the ceiling, a ceiling fixture, or dishes on the table or wall. For a twist, she recommends painting wainscoting and molding one color and making walls bolder, sometimes by painting 4-inch-wide stripes alternately in flat and satin to create a shimmering look, since satin reflects light. Adapt to Familial Needs In her eight years as a real estate broker and salesperson, Melody Bohl, ABR, GRI, with Carpe Diem Realty in Newton, Mass., says she's found that different-aged buyers use dining rooms differently:
Throughout the Northeast, dining rooms are important for families on weekends and holidays because outside dining is restricted usually to summer, says Anne Millians-Roche, e-Pro, president, cofounder, and qualifying broker of Owens Realty Network in Winter Park, Fla. But in the South, where the climate is warmer, buyers usually prefer large outdoor areas to entertain. “The interior formal room is considered wasted space," she says. In the more traditional Midwest, St. Louis-based designer Denise Fogarty tries to break out of expected staidness by painting walls a nonneutral color and upholstering host and hostess chairs, sometimes with different fabrics on front and back. And in more casual California, Christopher J. Grubb, owner of Arch-Interiors Design Group Inc. in Beverly Hills, says many clients want a room that seats eight to 10 people but looks untraditional so they're not afraid to use it. Instead of crystal chandeliers and Persian rugs, he might meld black and white family photos, contemporary light bulbs strung on a wire, plants, upholstered seating, and an audio system. If the room is meant to occasionally serve another function, such as an office, he suggests concealing a work surface. Designer Kimba Hills, owner of Rhumba, a design store and firm in Santa Monica, Calif., follows a similar strategy. She might mix a 19th century dining table with 20th century upholstered chairs and add bookshelves and a modern chandelier hung low for intimacy. She recommends a round table where possible because it's more conducive to conversations and eliminates favored seating. “You never have a bad seat at a round table," she says. Garden City Floral Park Malverne West Hempstead Roslyn 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. 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/ http://www.trendlinefinancialsolutions.com/august-mid-month-2015-nassau-county-real-estate-news-peter-owen/ 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. Long Island Real Estate Nassau County, NY Homes Floral Park, Garden City, Manhasset Peter Owen Licensed Real Estate Salesperson The Donnelly Group 730 Franklin Ave, Garden City, NY 11530 (516)317-2860 Email: petero@TheDonnellyGroup.com August, 2015 Hi Everyone We are coming into the August slow down period (normally) but there have been a surprising number of listings new to the market in the past several weeks. Many of these got the same multiple bids as in the height of the Spring market, which means the buyers are still out there. Right now I have 4 buyers still looking for their perfect home in several villages, and I am seeing the same activity in each area. I am happy to say that it was a very active selling and buying season for me, and I am confident that the remainder of 2015 will also be active. Let me know if you need assistance with any real estate question, concern or transaction. Peter Owen 6 Misperceptions About Home StagingStaging your home involves creating an environment that house hunters can envision themselves living in and can help to facilitate a speedy sale and for top dollar. Quite simply, if potential buyers don't feel an emotional connection with your home, they won't feel like they belong there and they'll be inclined to look elsewhere. That said, why would home owners make the selling process more difficult for themselves by choosing NOT to stage their property in order to make the best impression? The following are some misconceptions that sellers have about home staging. 1. It's too expensive. Staging is an investment in getting a house sold for top dollar and always less than the first price reduction on a home. According to the Association of Staging Professionals (ASP), 95 percent of staged homes sell in 11 days or less and sell for 17 percent more than homes that are not staged. When compared with the carrying costs of a home that lags on the market (monthly mortgage, utilities, landscaping/snow removal, etc.), the cost of staging is far less. 2. Our home has been professionally decorated. Decorating and staging are completely different. Although home owners may love the way their house looks and it suits their needs perfectly, it may not appeal to the tastes and style of today's buyers. An accredited home stager has the experience and objectivity to prepare a home for mass appeal in the current marketplace to engage as many buyers as possible — no matter what their personal style. 3. We don't need a stager to declutter and clean. Although these may seem like easy tasks, there is a lot of emotion that goes into depersonalizing a home after so many years of accumulating personal belongings. An accredited stager will provide a detailed action plan to neutralize and remove any items that will distract from the home's features to get the house sold. 4. We can't stage the house if we're living in it. Staging is absolutely not just for vacant homes. Every home can be staged while it's occupied and a professional stager will provide home owners with tips for keeping the home in show-ready condition while the home is on the market — and still feel comfortable in their own home. 5. We can wait and then stage later if needed. There is a lot of truth to the popular phrase “you never get a second chance to make a good first impression." If you don't stage before you list, you will inevitably lose time and money. 6. Staging won't hide all the problems. Before beginning the staging process, sellers should address basic repairs such as leaky faucets and broken lights first so buyers won't have a reason to turn away as soon as they walk into a home. Once this is done, a staging company will handle superficial imperfections such as repainting walls and removing outdated wallpaper to make the home aesthetically inviting and comfortable. Garden City Floral Park Manhasset 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. 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. Long Island Real Estate
Nassau County, NY Homes Floral Park, Garden City, Manhasset Peter Owen Licensed Real Estate Salesperson The Donnelly Group 730 Franklin Ave, Garden City, NY 11530 (516)317-2860 Email: petero@TheDonnellyGroup.com July Mid Month, 2015 Hi Everyone This appeared to be a fairly Normal Spring/early Summer real estate season. The houses were selling well with plenty of buyers making multiple bids. It was also fairly orderly, ie no buying frenzy as in 2012, but the prices were still Up generally. The mid-Summer ;market is now starting, which means fewer houses coming on t he market, but still plenty of buyers out there. This might be a great time to bring your house to market since there is less competiion and the buyers are not under preasure to get into the house for the new school year. Let me know if you need assistance with any real estate question, concern or transaction. Peter Owen Clean, Declutter, Discard: Make a House Shine for ResalePurging belongings can be an arduous task for sellers. Share these 13 decluttering tips with your clients to help them prepare their home for sale. Sentimentality can be a powerful disincentive to declutter. How could a loving daughter sell her family silver, even though she dislikes the pattern? How could parents ever discard a painting by their young budding Picasso, even though he's now 30 and hasn't picked up a paint brush in 20 years? Most home owners avoid those tough decisions and schlep possessions from house-to-house. But it's far smarter to shed before moving. Not only does it clear out space to make a listing look its best, it also saves on moving costs to transport less stuff. 1. Study the entire house. Sellers shouldn't tackle every room in one fell swoop. Advise them to go room-by-room, starting at the front door. Sellers should pretend they're seeing each room for the first time, says Kammie Lisenby, CEO of The Organizing Experts in Seattle. The goal is to make rooms resemble those in a hotel, says professional organizer Katrina Teeple, owner of Operation Organization in Los Angeles. 2. Make piles. Sellers should organize piles as they clear each room — for example, stack items to keep, give to family or friends, donate to a charity, sell online, get hauled away, and consign. They should bear in mind the size of the home they're moving to, their degree of sentimental attachment, and the financial value of each item. It's best to put highly personal items aside in the keep pile, such as family photos they don't want buyers to see during showings, says Lisenby. Tip: Sellers could offer a buyers' allowance to do their own decorating, says Barry Izsak, owner of Arranging It All in Austin, Texas, and former NAPO president.3. Create a spreadsheet. A master list of what rooms will require organizing tasks can be helpful. This will also aid in prioritizing expenses, such as home improvements, paint, and staging elements. To play it safe with finicky buyers, sellers should go neutral in paint and decor, says Teeple. 4. Empty closets. Often becoming a graveyard for all the belongings home owners don't know what to do with, clean, spacious closets are a coveted feature among buyers. Izsak suggests eliminating anything not worn or used in the last two years. Aim to dispose of 50 percent of wardrobes since most people only wear 20 percent of their clothes 80 percent of the time, he says. The remaining items should be stored on uniform rods, or in labeled, see-through bins, says Teeple. 5. Clear off counters and bookcases. Get rid of books that won't be reread, particularly now that so many people read online. Add a few home decor items for sparkle. When in doubt, follow the “rule of three," a mantra among home stagers, by clustering items into threes to create visual appeal. The final effect should reflect a neutral style. 6. Inspect the home's exterior. Depending on the time of year, sellers may need to hire a professional to clear leaves, snow, or ice, so that they don't hide a home's features. Messiness and wear and tear on the outside indicates to buyers that the inside hasn't been cared for well. 7. Check curb appeal all around. While the front yard is key to making a good first impression, more home owners spend time out back, so sellers should be sure lawns, shrubs, trees, and amenities like a fence and air conditioning condensers are maintained. 8. Spruce up the kitchen. This is the home's most popular gathering spot and another place where everything gets dumped—backpacks, car keys, cell phones, etc. The rule of three applies here, too. Tell sellers not to stuff anything into a pantry or cabinets; get rid of it if it hasn't been used in a few years. Also, clean out the refrigerator and freezer. 9. Make bathrooms spotless. Not every seller has a spa bathroom to unwind in, but clean grout, tiles, shower door, and vanity can make a big difference in an average bathroom. Clear out the prime real estate of a medicine cabinet, add crisp white or other neutral towels, fresh soaps, and a plant, Teeple suggests. 10. Purge basements, attics, and garages. These are a home's purgatories—where stuff goes to never see the bright light of day, says Izsak. Anything that's been moved at least twice and not opened needs to be reassessed, says Chris Seman, president of Caring Transitions in Cincinnati, a relocation service. Separate the items to be stored in see-through bins to reveal their contents; do so by categories, such as holiday decorations; and be sure bins are labeled clearly and have lids to keep out pests. 11. Professionalize an office. With more home owners working from home, a separate room or corner for an office can boost sales appeal. Have sellers clear up paper piles and file documents—but remember, most home owners only reference 5 percent of their files, says Seman. The work area should include good illumination, a comfortable chair, and clean equipment, says Izsak. 12. Get rid of belongings. Now it's time for your sellers to rethink what to do with everything in piles. Here are some upsides and downsides to these decisions:
Garden CIty Floral Park Lynbrook 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. 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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