IS THIS HOUSE RIGHT FOR US?

What should I be considering when purchasing a home? How do I know if this is the right house for me? How do I avoid buyer's remorse and risk losing my dream home?  Purchasing a house, especially a second home, can be a challenging task because most people want something different in a second home, but their frame of reference is usually their primary residence. Unfamiliar locations and styles can hold them back from making a decision.  Here are some thoughts you may want to consider:

Can I afford it?

Early on, in the process, look at your financial situation, meet with a mortgage broker or bank representative and get yourself a preapproval with a monthly payment that works for you.

Does this house/community have the amenities I want?

Research the area you're considering. This is where experienced Realtors provide an essential service.  We know the communities and amenities. Make a list of your must-haves - but be flexible, especially if it’s an existing home.  Remember, “Location, Location, Location!” Most amenities, like a pool, can be added, but waterfront is not something you can add later!

Is this house right for my future?

Is this a home you can grow in. Will this home accommodate my family and future family as it grows?  Is this the home I want to retire to?

What is the potential of this home?

Many properties on the market today have good bones, but, the style or overall interior may not be exactly what you want.  Your own upgrades, may give you a better return when you sell, and some leverage in buying it today. A renovated, “move-in,” home will likely cost you top dollar.

Sleep on it

It's easy to get swept up in the excitement when walking through a home for sale. Emotions have a way of taking over in this competitive market, and you may get caught up in bidding a property above your comfort level. What seemed like the perfect property yesterday, could feel like a financial stretch tomorrow.

Trust your instincts

You'll know when a house is right for you especially when you envision making it your own. Every home gets adapted, in some way, to its new owners – but if you see yourself living in the home - got for it!

We can help you sort things out in this complex, ever-changing marketplace.  Call us at 631 765 5333 or come see us at our headquarters at the corner of Horton’s Lane and Main Road in Southold!

Memorial Day 2019…A Time to Remember Our Fallen Heroes

Memorial Day is a time to remember all the men and women who lost their lives serving our country.  The American Legion has traditionally offered poppies to wear on Memorial Day. Did you ever wonder about this symbol and how it came about? The wearing of poppies in honor of America’s war dead is a Memorial Day tradition going back to World War I. 

            In war-torn battlefields, the red field poppy (papaver rhoeas) was one of the first plants to grow. Its seeds scattered in the wind and sat dormant in the ground, only germinating when the ground is disturbed—as it was by the very brutal fighting during World War I.

            The practice of wearing of poppies was further inspired by the poem “In Flanders Fields,” written in 1915 by Canadian soldier John McCrae when he saw the poppies in burial fields around his artillery position in Belgium.

            Here are excerpts from “In Flanders Fields,” by John McCrae, May 1915:

In Flanders fields the poppies blow

Between the crosses, row on row,

That mark our place; and in the sky

The larks, still bravely singing, fly

Scarce heard amid the guns below.

We are the Dead. Short days ago

We lived, felt dawn, saw sunset glow,

Loved and were loved, and now we lie

In Flanders fields...

The torch; be yours to hold it high...

            Today, poppies are both a symbol of loss of life and a symbol of recovery and new life, especially to care for the servicemen damaged physically or emotionally.  If you would like to support our veterans and the good work of our American Legion send a donation to American Legion Auxiliary, Unit 803, PO Box 591, Southold, NY 11971.

Please join us in thanking and honoring our service men and women, including our own Southold Veterans; and remember those who have died in the service of our great Country. _____________________________________________________________

Happy Birthday, Chris...you’re our hero! We miss you every day... ever so much!!!

STUDY CONFIRMS BEST TIME TO LIST YOUR HOME

The next few months are the best months of the year to sell a home. So if you're undecided as to when to list your home, NOW is the perfect time - just do it!  According to a recent ATTOM Data Solutions analysis, 19 of the 20 best days to sell during the calendar year fall in May and June.

After analyzing more than 28 million single-family home and condo sales over the past eight years, the study concluded that sellers listing around this time of the year—as the weather is warming up—will garner seller premiums.

This makes perfect sense when you consider that for most homes, spring and summer is when the outside landscaping is at is loveliest.  Also, summer is a time for vacations and outings, and people are more eager to take that trip to look at homes for sale.

Based on eight years of research, here were the best months to sell, between 2011 and 2018, prioritized by the highest seller premiums May, June, July and August, for single-family home and condo sales:

#1 June

• Number of sales: 2,881,400
• Median sales price: $200,000
• Seller premium: 9.2%

#2 May

• Number of sales: 2,657,045
• Median sales price: $190,000
• Seller premium: 7.4%

#3 July

• Number of sales: 2,752,755
• Median sales price: $199,500
• Seller premium: 7.3%

 #6 August             

• Number of sales: 2,802,268
• Median sales price: $195,706
• Seller premium: 5.8%

If you’ve been wondering what to do, there’s no doubt in our minds that it’s time to list.  That has consistently been our advice to our clients, and now here is an 8-year study to support what we’ve known from our 20 plus years of experience here on the North Fork!  Do you need any more incentive to list your home, now?  Call us, at 631 765 5333, we’ll be there, “Johnny on the spot,” to assist you.  But act soon. May is half way gone - time’s flying!!!!

Source: ATTOM Data Solutions; RISMedia Housecall, These are the Best Days of the Year to Sell Your Home, May 2, 2019, posted by Jameson Doris.

Buying on the North Fork – Here’s a Fun Way to Do It!

If you’re thinking about buying a second home on the North Fork but have not spent enough time to be comfortable choosing a locale, a short-term rental this summer or fall is a good way to test the waters.  A local base is also an efficient way to conduct your search.

              

A second home on the North Fork offers an easy escape from the hustle and bustle of the city.  We’re two hours from Manhattan and New Jersey, even less time from Long Island suburbs, and parts of Connecticut. 

Our natural, pristine beauty remains protected by many preserved acres. Beautiful beaches, plentiful creeks, lakes and inlets offer boating, kayaking, swimming and fishing.  Quaint, characteristic hamlets offer wine tastings, vineyard tours, fun casual breweries, music, shopping and fine eating establishments for every palate and pocketbook. The summer is filled with concerts, and other events for the whole family.

There’s still plenty of time to rent a home for a few weeks this summer or fall!  And we have beautiful homes available for you.  Just remember, there is a two week* minimum in Southold and 30 days in Riverhead.  For a shorter stay, you may wish to consider a bed and breakfast, inn or hotel.

The inventory of homes for sale is limited and booking a summer rental and being here on the scene may be the best way to get a second home on the North Fork.  Also consider getting your ducks in order for your search – have a bank preapproval in hand, do your homework on what you can afford and, by all means, use a realtor!  We know the neighborhood and we will make your search more efficient and help you find what you are looking for. 

Call us – we’re ready to help you find a summer rental on the North Fork and find that dream house or property to enjoy for years to come! Just call us at 631-765-5333,  email us at broker@beninatiassociates.com  or come visit us at our headquarters at the corner of Horton’s Lane and Main Road in Southold, next to Town Hall.

              

Wishing every Mom out there a very Happy Mother’s Day! 

*Southold Town code requires a minimum of 2 weeks; Riverhead requires 30 days.

STAGING PAYS OFF…

It’s SPRING and the home-buying season is going into full swing.  If you’re planning to list your home this year - it’s time to get going and there’s an important thing you should seriously consider - staging your home.  According to the recent National Association of REALTORS® (NAR), 2019 Profile of Home Staging,  83% of buyers' agents agree that staging your home makes “it easier for a buyers to visualize the property as a future home.”

Additionally, the NAR reported more than half of sellers say that staging your home will decrease the amount of time your home stays on the market.

Buying a home starts with a financial plan but choosing a home is an emotional decision.   When a buyer looks at a home, they will certainly be concerned with the condition of the home – is it updated, is the roof in good condition; but it’s equally, and possibly more important, that they feel comfortable in the home, that they   perceive it as a place to enjoy with family and friends, a place to retire to, or even a retreat from the stress of the city. 

How your home is presented to the public is important – it can make the difference between a sale and a walk away.  It can make the difference between a low offer and a high offer.  In total, 44% of buyers' agents noted that staged homes saw an average increase of 2.5% up to as high as 20% in the final selling price offered for a home.

We have seen over an over that staging works.  That’s why we recommend and offer staging consulting to all our clients at our expense as part of our suite of services.  You won’t find this level of service from any other realtor on the North Fork.  If you are ready to put your home on the market, call us at, 631 765 5333, and let’s get the ball rolling.  We’ll get your home staged in short order and put a marketing plan in place and partner with you to sell your home quickly, at the best price possible!

Source: National Association of REALTORS, 2019 Profile of Home Staging, March 2019.