How to List and Sell Your House Before Year-End

We all know that the housing market is cyclical and changes over the years, but also as we move from one season to another. Pricing and demand that goes up eventually goes down, and the hot summer housing market often cools by the time winter rears its chilly head.

If you need to sell your house and can’t wait for next year’s warm-weather sales surge, you should act quickly to put your home on the market. To get to the closing table sooner rather than later, you may need to adjust your expectations and approach. Here are six steps you can take to sell your home before the new year is here. 

1.      Rely on comps—not emotion—to set a realistic asking price.
Experts say you’ll want to jump into the housing market with a realistic asking price that has the potential to stick. This part is often hard for sellers to accept, since many want to “test the market” with a higher sales price with the possibility of dropping it later. Often a seller will choose the realtor who suggests the highest price. But an unrealistic price, may put the house in an unfavorable position when compared to homes in the same price range. Partner with your realtor and carefully consider their advice.

2.      Make improvements that are “essential” to a quick sale.
If you’re to sell quickly, you will need to enter the market with your best foot forward. This means having a house that is easy to sell and free of glaring problems. Discuss with your realtor possible improvements to avoid losing out on a sale due to defects or even minor issues that can be addressed before hand.

3.      Clean, organize and declutter.
Take down family photos and straighten out closets right away, but also get going on a major cleanup inside and out. Do everything within your budget to give a great first impression. For example, give your front door a fresh coat of paint, trim back overgrown shrubs and keep your lawn in tip-top shape, and free of falling leaves. The interior should be clean and ready for last-minute showings at all times. Stay on top of cleanliness. Nobody wants to walk through a dirty house.

4.      Consider hiring a professional stager.
Home stagers help make a home visually appealing. We offer home staging as part of our services at no additional cost to the homeowner - we have furniture, art and décor. Most experts say staging works. In fact, a recent study from the National Association of REALTORS® showed that 83% of buyer’s agents said staging helped their clients envision living in that specific home. 28% of seller’s agents said they staged all of selling clients’ homes before putting them on the market.

5.      Make sure your agent springs for professional photos and video.
Most all home marketing is done online now—either through multiple listing services (MLS), real estate websites, email marketing or a combination of all of these avenues. The photos and videos are the first thing a prospective buyer sees – it’s important.

6.      Consider an optional pre-sale home inspection.
If you have concerns about the condition of your home, paying for a home inspection upfront may be a good idea. With prior knowledge of issues like missing shingles on your roof or faulty electrical work, for example, you can fix these problems before putting your home on the market and  you will be more likely to sell quickly, since most buyers are leery of major repairs left undone.

        If you take steps to avoid problems that turn off potential buyers, you’ve increased the probability of getting a deal before the end of the year. Call us at 631 765 5333, we’ll help you get it done.

Source: RISMedia, 6 Tips to Sell Your House Before the End of the Year, Holly D. Johnson,

Bankrate.com.

WHAT IS ROSH HASHANAH?

Rosh Hashanah, the Jewish New Year, 2019 begins on of Sunday, September 29^th at sunset and ends in the evening on Tuesday, October 1^st.   Below is an excerpt from a beautiful writing by Rabbi Lord Jonathan Sacks.  Its message is Universal and I hope you will be inspired by it as I was.

What does Rosh Hashanah say to us?

Life is short.  However much life expectancy has risen, we will not, in one lifetime, be able to achieve everything we might wish. How shall we use life well? We know that we will not finish the task, but neither are we free to stand aside from it. That is the first truth of Rosh Hashanah.

Life itself is the gift of God.  Life is not something we may take for granted. If we do, we will fail to celebrate it. Yes, we believe in life after death, but it is in life before death that we truly find human greatness.

Life is meaningful. We are not mere accidents of matter, generated by a universe that came into being for no reason and will one day, for no reason, cease to be. We are here because a loving God brought the universe, and life, and us, into existence – a God who knows our fears, hears our prayers, believes in us more than we believe in ourselves, who forgives us when we fail, lifts us when we fall and gives us the strength to overcome despair.

Life is not easy. Life may be hard, but it can still be sweet, the way the challah and the apple are on Rosh Hashanah when we dip them in honey. It is to learn and never stop seeking, to pray and never stop thanking, and never stop growing. In this lies the secret of joy. Life is sweet when touched by the Divine.

Our life is the single greatest work of art we will ever make. On Rosh Hashanah we step back from our life like an artist stepping back from his canvas, seeing what needs changing for the painting to be complete.   

For we defeat death, not by living forever but by living by values that live forever; by doing deeds and creating blessings that will live on after us; and by attaching ourselves in the midst of time to God who lives beyond time.

The Hebrew verb lehitpalel, “to pray,” more precisely means “to judge oneself.” On Rosh Hashanah we stand in judgment. We know what it is to be known. And though we know the worst about ourselves, God sees the best; and when we open ourselves to Him, He gives us the strength to … live life in the presence of God, to sanctify life for the sake of God, and to enhance the lives of others – for where we bring blessings into other lives, there God lives.

We wish all our Jewish friends and family,

God’s Blessings and a good

Rosh Hashanah

Source: What Rosh Hashanah Says to Us, September 21, 2019, by Rabbi Lord Jonathan Sacks

THE ALLURE OF THE SECOND HOME

A recent study of high-end consumers examined demographics, and reasons for buying second homes, including what target buyer views as important life-style characteristics.  Below are some of the results of the study and how it applies to buyers and sellers in our marketplace.

The North Fork fits in well with the findings.  Although the study is global, the buyers were looking for resort markets with beaches and boating, homes near lakes or creeks, golf courses, ski resorts, business convenience and seasonal living.  Other than skiing, our beautiful North Fork fits the bill! The average age of the second home buyer is 43.5 years, 71% have children under 18 years.  62% are business owners. 

The population of second home buyers is increasing, as global personal wealth continues to rise. In the past four years the number of people with a net worth of $1-5 million has grown 25%!  These high-net-worth individuals are “more reliant on agents than websites for information and are confident in the global economy,” although two-thirds of sellers “predict a recession is coming, though most believe it will last less than one year.”

Second home buyers in this study, want a second home that allows then to spend time getting together with family (65%), reading (62%), getting together with friend (58%), exercising – doing sports (57%), eating healthy (55%) attending events/parties (42%). Almost half, 43%, enjoy entertaining at home and 39% are passionate about wine!

All-in-all, looks like we have a most appealing marketplace for today’s second home buyer. Sellers may want to evaluate how their home addresses the needs and desires of these buyers and make it a focus in their marketing strategy.  If you are thinking of selling your home, give me a call at 631 765 5333. We can do a market assessment of your property and put together a plan that will appeal to the target buyer.

Source: Luxury Portfolio International, The Allure if the Second Home: Why Affluent Buyers are Displaying Confidence in Resort Markets, 2019.

REMEMBERING 9/11...

Yesterday was the 18^th anniversary of the World Trade Center tragedy. Hard to believe so many years have passed.  I was gratified to see the ceremony at Ground Zero yesterday.  And reminded that we must never forget and we must support those who have been left behind and those who are suffering the results of the catastrophe.  To them we dedicate this column. 

Our lives have been changed forever due to the destruction of the Twin Towers, but our resolve to remember the heroes who died and support those who are suffering today must remain strong.

           

This country is blessed with a heritage of Freedom. Even when times are tough and even with all our challenges, even when we disagree, we stick together to protect each other and honor what we hold sacred. 

If you haven’t visited the 9/11 Memorial and Museum, it’s important to go.  The Museum and Memorial are open every day from 9 am to 8 pm.  It’s at the site where the Twin Towers stood, at 180 Greenwich Street in lower Manhattan.

May God Blessed America and Guide us through difficult times strengthening us with resolve to always do what’s right and protect and preserve freedom throughout the world.

BUY OR SELL WITHOUT AN AGENT?

Although the vast majority of U.S. home sales involve real estate agents, the notion that consumers would be fine buying or selling a home without one is not really a new one. “For-sale-by-owner” has been around for a long time.  But with all due respect to consumers who try to go it alone, it’s a big risk to take with a big-ticket purchase or sale. 

“Do-it-yourself (DIY) real estate is like DIY surgery or DIY legal defense. When so much is at stake, it’s always best to have a professional on your side. Certainly, that applies to the largest financial transaction of a person’s life,” says Adam Contos, CEO of RE/MAX

The good news is that most buyers and sellers agree. The National Association of REALTORS®’ latest Profile of Home Buyers and Sellers notes that 93% of buyers used an agent or broker. That leaves only 7% who made their purchase without the guidance of a professional.  91% of sellers worked with an agent. For-sale-by-owner properties accounted for just 7%—the lowest share since the annual study began in 1981.

It’s worth noting that the value of an agent crosses generational lines. A recent Homes.com survey of more than 1,000 adult Gen Zers (aged 18-24) showed that nine in 10 plan to use an agent when the time comes to house-hunt. It’s telling that this group—the most digitally inclined generation yet—understands that buying a house isn’t as simple as purchasing a commodity, arranging a ride or planning a trip. The risks are exponentially higher.

            The fact is, there’s much more to a successful transaction than meets the eye. It can all seem so simple, especially with online home search being what it is today, but there’s a big difference between seeing a great home online and walking in the front door as its new owner. An expert real estate agent can provide guidance that an “app” can’t touch—and, at the same time, provide all the value and data that can be found in the app.

             Technology provides all sorts of advantages, but in the end, it’s a tool. Information  technology, becomes valuable when in the hands of an expert agent, who can apply real-life instinct, insight and local knowledge. That’s when agents deliver their irreplaceable value by negotiating, working through contingencies, being a voice of reason, and guiding clients through a thorny and complicated and sometimes frustrating process. 

We should all celebrate innovation that elevates the customer experience and raises the standard. At the same time, make no mistake—nothing in practice or on the horizon matches the value delivered by a great agent who’s armed with great technology. That remains an unbeatable combo. 

Source: RIS MediaNews, Buy or Sell Without an Agent? No Thanks! August 28,2019, Adam Contos, CEO, RE/MAX, LLC.

WHY DO WE CELEBRATE LABOR DAY?

Monday is Labor Day.  We all know it’s the first Monday in September.  We all know it’s the “unofficial end of summer.”  We all know it’s a National Holiday.  But do we know why we celebrate Labor Day in the United States and Canada, and how it came about? 

Interestingly, there’s disagreement over how the holiday began. One version attributes the holiday to the Knights of Labor, the largest and one of the most important American labor organizations at the time. The Knights in New York City held a public parade featuring various labor organizations on September 5, 1882 — with the aid of the fledgling Central Labor Union (CLU) of New York. CLU Secretary Matthew Maguire proposed that a national Labor Day holiday be held on the first Monday of each September to mark this successful public demonstration.  In another version, Labor Day was proposed by Peter J. McGuire, a vice president of the American Federation of Labor, in spring, 1882, McGuire reportedly proposed a “general holiday for the laboring classes” to the CLU, which would begin with a street parade of organized labor solidarity and end with a picnic fundraiser for local unions.

Regardless of whose idea it was, the holiday had merit and Oregon became the first U.S. state to make it an official public holiday. Twenty-nine other states had joined by the time the federal government declared in a federal holiday in 1894.

Here’s the U.S. Department of Labor’s official tribute to U.S. workers on this Labor Day:

“The vital force of labor added materially to the highest standard of living and the greatest production the world has ever known, and has brought us closer to the realization of our traditional ideals of economic and political democracy. It is appropriate, therefore, that the nation pays tribute on Labor Day to the creator of so much of the nation’s strength, freedom, and leadership — the American worker.”

Like so many holidays we celebrate, we get involved in having fun and we may neglect to teach our children the significance of the holiday.  So, here are some tips from National Today, an organization dedicated to keeping track of holidays, their origin, and how they are celebrated:

            

            ·       Read up on the history of Labor Day

“Labor Day has a rich history that had a direct impact on the working conditions we experience today. So in between rounds of BBQ at your Labor Day celebration, take the time to discuss the U.S. labor movement and its contribution to our country's current work culture.”

• Buy an American-made product

“When you're doing your Labor Day shopping, take the time to read the labels. Consider buying products that say "Made in the USA" to show your support for American workers.”

• Watch a movie about labor unions

“Many of us get Labor Day off. What better way to relax than to watch a movie about the American labor movement? There are tons of union-themed movies to choose from. "Norma Rae" ring a bell? Unions also play a major role in the entertainment industry.”

Whatever your plans, enjoy the long weekend! And…if you want to shop for a home on the North Fork – we around and happy to help you!!!

Source: Google, National et al

HAPPY LABOR DAY!!!

NERVOUS ABOUT THE STOCK MARKET? TRY REAL ESTATE

Stocks certainly are a most glamorous asset class. It’s exciting to trade and have paper gains (or losses), you can watch every day.  But with the recent volatility of the stock market - the dramatic drops and recoveries due to circumstances beyond the average person’s control - it’s no wonder that stocks are no longer Americans’ favorite long-term investment, according to a nationwide Bankrate survey, taken this year.  The survey ranks Real Estate at the top!

After a housing crash in 2008, that left the economy hurting, many Americans again see real estate as their top pick today.  Some 31% of survey respondents named real estate as their favored investment for money that they wouldn’t need for 10 years or more.  It’s the best showing for real estate in the seven years that Bankrate has conducted the survey.

In 2018, stocks were the most popular investment.  But this year stocks ran a distant second, with 20% of respondents naming stocks their top pick for holding periods of more than a decade.

Cash investments, such as savings accounts and CDs, finished third at 19 %, while gold and other precious metals were fourth at 11% and bonds came in fifth at 7%.

As far as demographics, Millennials in total, scored the highest at 36%-   among all age groups in their preference for real estate as a long-term investment.  It’s no surprise that real estate still remains the most popular investment among all generations, from millennials to Generation X (31%), as well as baby boomers (30%) and the Silent Generation (23 %).

“Millennials are higher on real estate than any other age group; they have cooled a bit on cash, and still aren’t keen on the stock market when investing for more than 10 years,” says Greg McBride, CFA, Bankrate chief financial   analyst.  Home—or least, real estate—is where the heart is for Americans.

So, if you’re a bit jittery about the stock market for long term investing, call us at 631 765 5333, we’ll show you some real estate investment properties that are solid for the long term!

Source: RIS MEDIA, Survey: Real Estate Is Back as Americans’ Favorite Long-Term Investment, James Royal,  Bankrate.com, distributed by Tribune Content Agency, LLC, August, 2019.