5 Good Reasons to Sell Your House Now! (why wait for spring?)

Pretty soon THIS

Will be THIS!

(Sound Beach, Duck Pond Rd, Cutchogue)

1. Greater likelihood of selling in 6 months or less. Here on Long Island, if you list your house between Dec. 21 and March 21 you have a 34% chance of selling within 6 months, while only a 27% chance of selling in the same time frame if you list in the spring, and 24% chance if you list in summer or fall*.

2. You may get a higher price. Statistically, homes that are listed in the winter sell on average for 2.3% less than list price, while the average selling price of homes listed in other seasons is 3.5% less than list price*. Keep in mind that the list price has to be reasonably comparable to the selling price of other similar homes in your market area - otherwise known as "comps".

3. Less competition. Inventory is lowest this time of year, and we are beginning to see bidding wars again. While as a real estate professional, this makes me cringe when I am working for the buyer, it can certainly be an advantageous outcome for the seller, and often results in full price or close to full price offers with larger than normal cash down payments.

4. Real buyers buy all year round. Not a week has gone by since the new year began that I haven't shown prospective buyers houses. Real buyers are out looking at all times of the year, and often have compelling reasons to buy quickly. These include major life changes, such as a new job, new baby, or -on the North Fork- because they want to have time to do needed repairs or renovations before the summer season begins.

5. Interest rates are anticipated to rise. It is no secret that the Federal Reserve has been dropping hints that it plans on cutting back its stimulus program in the near future, which will push mortgage rates up . This is providing a lot of motivation for buyers to get out there and shop NOW, regardless of the weather!

Other bonuses to selling this time of year may be:

·         Increased curb appeal - everything looks pretty under a blanket of white, and you don't have to worry about irrigating your lawn, or weeding the garden

·         The warm and cozy factor - have a great fireplace? Evergreens that are blanketed by snow? Now is the best time to highlight these features.

·         Moving on - if you are planning on moving but waiting for the spring market, you can put your plan into action by taking the first step towards making your dream a reality and getting your house on the market now.

Convinced? Contact me for a free market value analysis of your home, and tips on preparing your home for sale - cherylschneider@danielgale.com

Did you miss my latest Market Report for February 1 - 14? Click here to find out what's new and sold on the North Fork this month, and don't forget that all past reports are available under my 'Links' tab on the right of the screen.
 

*Data courtesy of redfin.com: Really? Data Shows Selling a Home in Winter Pays Off

Loving the North Fork 365!

How is the market during the arctic freeze we are experiencing in most of the northeast? Find out all about new listings, sales and properties under contract on the North Fork and Shelter Island in my latest 

Market Report for February 1st - 14th 

Let the Buyer Beware (Caveat Emptor) - Hiring a Home Inspector

When you buy a home, you need to know exactly what you’re buying. Imagine how frustrated you’d be to find out that the hot water heater wasn’t working—in the middle of a shower! This is why you should have a home inspection before you buy your home (and in fact, many banks require it before they will grant you a mortgage). A home inspection is an important part of buying your home. Your agent can provide you a list of local inspectors, but before you hire one, ask candidates a few questions to make sure you hire a trustworthy inspector.

1. What does your inspection cover? Not all inspections are the same. Ask for copies of previous home inspections so you can see exactly what they will check inside the home. If you are concerned about something specific, like a leaky faucet in the bathroom, mention that to the inspector so they can check it out. 
2. Can they also do termite and pest inspection, or do they work with a sub-contractor? Some home inspectors are also licensed to do termite and pest inspections. Be sure to ask if they can do this, and if so, what the add-on cost will be, and if not, if they have a pest inspector they work with or can recommend.
3. Are you licensed or certified? If you live in a state that licenses home inspectors, ask to see their license. At the very least, choose a home inspector who belongs to a home inspection association. This shows a level of professionalism and education that you can trust.
4. What kind of report will you give me? You should expect a written report detailing what the inspector found. Most inspectors will give you a typed report within a week of the inspection. Make sure the inspector will be available to explain anything on the report that doesn’t make sense to you.
5. Will I be able to attend the inspection? If the inspector refuses to let you be present during the home inspection, find someone else. This is your chance to know exactly what you are buying and what potential repairs you or the seller will have to make.

As your real estate agent, I can guide you through the property buying process. Let me help you find your new North Fork home or business. Contact me today at with any questions you may have, or to begin the process of buying or selling a home. 

6 Things You Can do to Sell Your Home

OR WHAT BUYERS WANT

Amidst blizzards and arctic freezes, the real estate market on the East End of Long Island remains strong in 2015,  with many buyers looking for both primary and secondary homes.. As a potential seller, there are things that make your property more attractive to buyers. Some of these may be out of your control, such as location and views. There are many others, however, that you can do, or have done, to increase both the value and desirability of your home to today's buyers.

 1. Fresh Neutral Paint

The easiest and least expensive quick fix for any home is a fresh coat of paint in a neutral color. Buyers like to envision themselves and their furnishings in a room, so neutralizing your color palette allows them to do this without trying to think around your favorite color. At goodhousekeeping.com there is a great article entitled " The 10 Paint Colors Designers Always Use" - try one or two of these. Painting trim in a crisp shade of white adds a nice, clean accent. Don't forget that there is nothing like a first impression, and while you're at it, put a fresh coat of paint on the front door!

2. Clean and de-clutter

Consider hiring a professional cleaning service to deep clean carpets, windows, flooring, kitchens and bathrooms. Hardwood floors may have to be refinished, if there are significant scratches or the finish is worn. De-clutter the living area as well as the garage and basement, kitchen cabinets, closets and vanities. Pack away all the small items, and minimize your family photos to just a few of your favorites. Always make sure that the counters and vanities are wiped down before you show your home, and odds and ends, such as wet towels and laundry, are out of sight.

3. Make sure everything works 

Have appliances and mechanicals serviced, possibly getting a service contract. Your real estate agent may also be able to offer you a low cost home appliance warranty, which covers your appliances while your home is on the market, and passes on to the buyers a free one year waranty - an enticing reason for them to buy your home!

4. Update, update, update

Across the board, in every price category, the largest trend we are seeing is that buyers want everything done, done, done. Updated baths, kitchens, appliances and countertops will definitely improve the price and appeal of your property. A good read for updating/upgrading is "New Home Trends You Should Know About in 2015" at realestatebook.com.  One notable trend is a move away from granite countertops to more easy-care surfaces such as soapstone, and other manufactured stone surfaces.

5. Curb appeal

Your potential buyer starts looking at the home the moment they get out of the car. Make sure gardens, driveways, walkways and siding look fresh and clean (no mold or mildew). A quick power-washing  can help with this. The main entry should feel warm and inviting - they should WANT to come in!

6. To Stage or not to Stage

Consider having your home professionally staged, especially if it is vacant, or sparsely furnished. Many buyers cannot imagine whether or not a large bed will fit in a room, or where the TV should go unless they see it furnished. Your real estate professional can advise you about whether or not this is the right choice for you.

For other great preparation tips, ask me for a copy of our free brochure “Preparing Your Home for Sale”, and click on my bi-monthly East End Market Activity Report to see the newest listings and recent sales.