Posts Tagged ‘Real Estate’

Home prices up for fifth straight month – NBC News Economy Watch

 

Home prices up for fifth straight month.

Shannon Stapleton / Reuters

A “for sale” sign is seen outside a home in New York in this June 19, 2012 file photo. U.S. home prices have risen for the fifth straight month, according to a new survey.

By Reuters

Home prices rose more than expected in June, the fifth month in a row of gains in a fresh sign of improvement in the housing market, a closely watched survey showed on Tuesday.

The S&P/Case Shiller composite index of 20 metropolitan areas gained 0.9 percent on a seasonally adjusted basis, topping economists’ forecasts for 0.5 percent, according to a Reuters poll.

On a non-seasonally adjusted basis, prices were even stronger, up 2.3 percent.

“We seem to be witnessing exactly what we needed for a sustained recovery; monthly increases coupled with improving annual rates of change,” David Blitzer, chairman of the index committee at Standard & Poor’s, said in a statement.

“The market may have finally turned around.”

Prices in the 20 cities rose 0.5 percent compared to the year before. Atlanta fared the worst, tumbling 12.1 percent from a year ago. Phoenix continued to bounce back from poor conditions and was up nearly 14 percent.

Although prices in June likely got a boost from the traditionally strong summer buying season, the gains on both a monthly and yearly basis boded well for the housing market, said Blitzer.

The report affirmed “that the overall market is healing, albeit at a frustratingly slow pace,” said Stan Humphries, chief economist at Zillow.

Humphries said he expects to see prices weaken in the latter half of the year, though the period of sustained declines are likely in the past.

For the second quarter, seasonally adjusted national prices jumped 2.2 percent compared to the 1.4 percent gain that was seen in the first quarter.

Financial markets saw little reaction to the data as investors had their attention turned to a highly anticipated speech from Federal Reserve Chairman Ben Bernanke at the end of the week.

Shannon Stapleton / Reuters

A “for sale” sign is seen outside a home in New York in this June 19, 2012 file photo. U.S. home prices have risen for the fifth straight month, according to a new survey.

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The Psychology of Selling Your House Successfully

Originally published: March 14, 2012 4:22 PM
Updated: March 15, 2012 1:27 PM
By KRISTIN TAVEIRA  Special to Newsday

Denial is like a shiny, seductive bubble — it offers psychological shelter from unpleasant realities until you’re ready to come to grips with them. But, if you are selling your home, it can be your worst enemy, and you could be in for a long stay on the market. But someone else’s wishful thinking can work to your advantage — if you can wake up and face the facts before your competition does, and do what it takes to sell your home in the real world.

“The delusion is that the market is getting better,” says Linda Bonarelli Lugo of Realty Executives North Shore in Huntington. That’s only partly true, she says. “We are having more sales, but the pricing has not increased.”

That is true in Nassau County, where in February the median home sales price of $380,000 represented a 3.8 percent decrease from the prior year. Suffolk County reported a slight increase for February — the median home sales price was $304,250 compared to $300,000 the prior year, representing a 1.4 percent uptick.

Sellers want to believe their homes will be the exception; experts say good luck with that. “There’s a certain kind of schizophrenia,” says Diane Saatchi, senior vice president with Saunders & Associates Real Estate. “Why is it the house you no longer want is worth more than market value, while the house you’re dying to have should be had at a discount? It’s not that I want to be rude, it’s just that it’s not going to happen.”

With the coming of the spring market, it’s time to burst your own bubble. Here are five things shrewd homeowners should do if they want to sell their homes this year:

1. BREAK UP WITH YOUR HOUSE

Delusion: Everyone will love my home as much as I do.

Reality: “The buyer sees all the other houses in the same neighborhood with the same amenity list — the seller only sees one,” says Saatchi. Tame your emotions and your ego. Feeling attached, ambivalent, proud or defensive about your home will cloud your judgment. “You want the buyer to be emotional, not you,” she says.

So before you list, break up — including the part where you take your stuff back.

Removing personal items will clear the way for buyers to picture themselves there, and it will also help you make the mental transition from owner to seller. The home should remain decorated enough to look inviting, but devoid of personal items such as family photos. That detachment is key — it will give you the distance and perspective to make good decisions. While other sellers are still struggling to accept the realities of the market — and making time-consuming mistakes — you’ll be able to make an accurate comparison and make yours the most attractive deal on the first try.

2. BE THE BOSS OF YOUR LISTING

Delusion: I can leave everything up to my broker.

Reality: It’s tempting to seek out a professional who will tell you what you want to hear — or one who promises to take over the process and wake you when it’s over. You’ll have to be more proactive than that if you want good results, says Saatchi. “You have to realize you’re making a business transaction,” says Saatchi. “You don’t want the broker who says your house is wonderful and gives you a high price. You want the one who has sold houses and can be businesslike.”

Listening to professional advice is key, but “the seller has to be participating in the discussion,” says Bonarelli Lugo. Speak up, do your homework and work with your agent to make informed decisions.

3. DITCH THE DEDUCTIONS

Delusion: I don’t have to do the work — buyers will see the potential.

Reality: House hunters will mentally chip away at your asking price for each flaw they spot — so declare war on the warts. Not everything has to be brand-new, but any big-ticket items that still have life left in them should be restored to their best possible condition so they don’t falsely announce themselves as needing immediate replacement or repair. Why let buyers argue that they’ll need a $3,000 discount to install new carpets if a professional cleaning could make yours look great for $300?

“Fix it if it’s fixable,” says Saatchi. But no faking it — if there’s a problem you won’t be repairing, disclose it, she says. Use attention and elbow grease to create an overall impression of cleanliness and care. But don’t go crazy; a major kitchen remodel isn’t necessarily worth it because you can’t predict buyers’ tastes, says Saatchi.

4. CASH IN ON OTHERS’ MISTAKES

Delusion: My home is worth my asking price, and my price is worth waiting for.

Reality: A house is worth what a buyer is willing to pay for it. Sellers are notorious for overestimating their homes’ values — then finding out the hard way that they’ve misjudged. Skip the long learning curve. Look at the prices of homes similar to yours that are languishing on the market and then at the prices of those that have sold. Ask yourself which group you want to be in — then price it that way.

“Sold properties in the area represent the reality of what’s going on,” says Don Scanlon, Long Island Board of Realtors president. “Not what people are asking, but sold properties. Those are the facts.”

There’s more at stake here than just taking a while to sell. While you’re waiting, a low sale or foreclosure in the neighborhood could strike a major blow to your home’s value.

5. MAKE THEM SWOON

Delusion: It will either feel like home to a buyer or it won’t, and it’s out of my hands.

Reality: Certain homes meet all the criteria but only make the “maybe” list. Others have that special something that give buyers the butterflies — that warm, fuzzy and slightly panicky sensation that walking out the door without making an offer could be the biggest mistake of their lives. It feels magical, but it’s not — it’s physical, and you can copy it.

The best way to understand the effect is to visit competing open houses, or pay attention during your own house hunt. When you find a home that makes your heart sing, dissect your feelings and impressions step by step — then try to identify the physical things that evoked them. “All our senses kick in,” says Bonarelli Lugo. “Buying a house is an emotional purchase, and you have to appeal to the purchasers’ emotions.”

The source of that “homey” feeling might be carefully constructed curb appeal that can be broken down into parts — a freshly painted front door, neatly trimmed shrubs, a clean-swept walk. The “cheery” kitchen may boil down to squeaky-clean windows that let the sun shine in and a bouquet of yellow flowers. If you can put your finger on the details that really pushed your buttons and try to replicate them, you just might be able to elicit the type of emotional response in a buyer that can translate into an offer.

Please help us elect our very own Tim Ho as the fan favorite “30 Under 30” Realtor of the Year!

Please help us elect our very own Tim Ho as the fan favorite

“30 Under 30” Realtor of the Year.

Tim, the lead buyer specialist at the Energized Realty Group,
age 26, is a finalist for the 2012 National Association
of Realtor’s Top “30 Under 30” award this year and
we are reaching out to ask you to please click on the link for
Tim as the Fan Favorite

To read more about Tim, who began his successful real estate career
4 years ago, please click here

Price floors leave many New Yorkers stuck in apartments – By Tripp Whetsell / NEW YORK DAILY NEWS

This is the article that was needed to uncover what is going on in developments where boards and management hold their shareholders hostage. It is a shame that good people who want to move on w/ their lives cannot make their own decisions based on their life values to live where they want to, because others are afraid of what would happen with their own profit margins. I completely support Mr. McClusky and others like him, and as a realtorfor over 25 years, I empathize with the freedom to make your own decision about what price you want to take and when you want to move!

Read the complete article  http://www.nydailynews.com/life-style/real-estate/price-floors-leave-yorkers-stuck-apartments-article-1.1047319#ixzz1psRBS5J 

A Small Makeover to Our Website

“I think we’re having fun.  I think our customers really like our products.  And we’re always trying to do better”.  – Steve Jobs

Here at the Energized Realty Group we are always looking for ways to help YOU (family, friends, neighbors, and customers) get the most information possible when looking for a home.  As a result, we decided to give our website a small makeover to give you the best search possible with the most valuable information.

These are just some of the new features we have on our website:

  • Fast, easy, and accurate searches
  • Walk Score – check out what is nearby every listing – from supermarkets to coffee shops, to parks, the Walk Score has it all.
  • Mortgage Calculator right on the listings page, so you don’t have to leave your page to get mortgage info.
  • And much, much more…

Please check us out energizedrealtygroup.com from your computer, or your mobile device.


The Sign of the Times – Part 2

In 1987, at the age of 23, Judy began her real estate career.

In 1997, Judy, already well known as the Energized Realtor, opened up a real estate company and affiliated with a franchise with a 5-letter name.  For 15 years with that franchise, Judy consistently remained New York State’s #1 agent, and when she left, she ranked #10 nationally.

This past December, Judy simply modified her company’s name to the Energized Realty Group.
Every time Judy grows, other companies worry. In fact, one local company even bought
the 5-letter franchise and added the word “ENERGY” to their name.

Buyers and sellers are too smart to be fooled by desperate attempts to confuse the public.
And anyway, Judy can sell faster than the competition can imitate.

Same great service, even more -en-ergiz-ed.

The Sign of the Times Part 1

 

 

The Sign of the Times…

For over 25 years, Judy has been selling homes with the same
energy and enthusiasm she had when she began her career in 1987.

In 2011, Judy closed over 165 home sales, making this her best year ever.
How did she do that in the toughest economy in modern history?
Hard work, a commitment to her community, and the best real estate team ever.

Judy is proud to present a new look for the Energized Realty Group,
because there truly is just one… Just Judy, and the Energized Realty Group.

Same great service, even more -en-ergiz-ed.

If you are thinking about moving, or would like genuine real estate information, call The Energized Realty Group today at 718-353-6000.

Visit our website energizedrealtygroup.com