Dissecting the New York Agency Disclosure Form - Dual Agent There are five different types of agency disclosure in New York. I'm going to go over what a Dual Agent means in simple terms. But first, at the very top it says, This Is Not A Contract which is correct. As a New York real estate agent, I have to give sellers and buyers this form for us to sign. It is to your benefit because consumers need to know who their agent is working for, you, the buyer, the seller, or in the case of Dual Agent, being neutral? Dual Agent - A Dual agent is when an agent may represent both the seller and the buyer.  In a Dual Agency situation, the agent will not be able to provide their fiduciary duties to the seller and the buyer. You will be giving up your right to undivided loyalty by your agent. If you... 10/08/2014

Dissecting the New York Agency Disclosure Form - Broker's Agent There are five different types of agency disclosure in New York. I'm going to go over what a Broker's Agent means in simple terms. But first, at the very top it says, This Is Not A Contract which is correct. As a New York real estate agent, I have to give seller's and buyer's this form for us to sign. It is to your benefit because consumers need to know who their agent is working for, you, the buyer, or the seller? Broker's Agent - A Broker's agent is when they show house listings that are not listed with their real estate firm. When I work with a buyer who does not want representation and I show them homes listed with a real estate firm and not my real estate firm, then I am a Broker's agent. This means I do not negotiate... 10/07/2014

Dissecting the New York Agency Disclosure Form - Buyer's Agent There are five different types of agency disclosure in New York. I'm going to go over what Buyer's Agent means. But first, at the very top it says, This Is Not A Contract which is correct. As a New York real estate agent, I have to give seller's and buyer's this form for us to sign. It is to your benefit because consumers need to know who their agent is working for, you or the seller? Buyer's Agent - A buyer's agent works for the buyer, period. The buyer's agent has their client's best interests at heart at all times also known as fiduciary duty. We negotiate on behalf of the buyer as well as having undivided loyalty, provide reasonable care, confidentiality and obedience. But, we have to treat sellers fairly and honestly an... 10/06/2014

Dissecting the New York Agency Disclosure Form - Seller's Agent There are five different types of agency disclosure in New York. I'm going to go over what Seller's Agent means. But first, at the very top it says, This Is Not A Contract which is correct. As a New York real estate agent, I have to give seller's and buyer's this form for us to sign. It is to your benefit because consumers need to know who their agent is working for, you or the seller? Seller's Agent - A seller's agent works for the seller, period. The seller's agent has their client's best interests at heart at all times also known as fiduciary duty. We negotiate on behalf of the seller as well as having undivided loyalty, provide reasonable care, confidentiality, obedience, duty to account and full disclosure. But, we hav... 10/05/2014

Above and Beyond Real Estate - Compassion Jared Christiansen wants us to write a post about how we went above and beyond for our clients. I always know that I do, but this one client came to mind immediately. In the world of real estate, when you hear that someone doesn't have money, others will say they are full of it. In this case, they didn't have much money, furniture, food and even clothing. They lost their jobs during the market crash and were only able to get lower paying jobs. They became severely behind in their mortgage because they had to make choices between eating or paying their mortgage. Although their income wasn't a lot, they still didn't qualify for any public assistance. Talk about being near the poverty line. They also had health issues and were waiting for disabilit... 10/01/2014

Babylon Village Housing Values for September 2014 This Babylon Village Real Estate Market Report is by Jackie Connelly-Fornuff with Douglas Elliman Real Estate in Babylon Village The chart below reflects the real estate market for the past 11 years. Overall for September, the median sold price for Babylon Village ended with $435,000 with seven homes sold and closed. The average list price to sold price ratio is 5%. The lowest sold price is $359,990 and the highest sold price is $637,500. Babylon Village Homes Under Contract/PendingTwo homes went under contract in Babylon Village during September. One home is listed for $429,999 on Wyandanch Avenue and was on the market for 52 days with one price reduction. The other home was listed for $599,000 on Stuart Avenue and was on the market for... 09/30/2014

11 Reasons Why Real Estate Is Not Easy  Buyer's bank gave us a clear to close on a coop and the bank said, "oopsie" we didn't get the insurance certificate for the coop development although we requested it 16 days ago. Bank never followed up but I spent almost 7 hours getting the insurance certificate for the bank. How in the world do you give a clear to close with paperwork missing? I guess there is a first time for everything. Buyer's agent went incognito and I had to deal with her buyer from beginning to end along with my sellers including the walk-through and being at the closing. Her buyer is a close relative too. Maybe I should have demanded her commission check since I never received even a thank you. Spent one month dealing with a seller that accepted my buyer's offer twice only... 09/29/2014

Will Updating Half of My Long Island NY Home Hurt the Other Half? It really depends upon which half you update and which half you leave alone. If you update the kitchen, freshly paint the other rooms, rip up carpeting and finish the hardwood floors underneath but leave the basement alone, then no. The style of home matters as well. A home that flows nicely from room to room and all on one level can make a difference compared to a home that has multiple levels. When I show homes and see the downstairs is nicely updated but the upstairs needs fresh paint, an updated bath and a little sprucing up, it's not the end of the world. A home that flows all together, the part that is finished will make the rest of the home look like an eye sore. The example below is a front to back Split level hom... 09/29/2014

What Are Buyer Exclusions in a Long Island NY Listing Agreement? When buying a Long Island home, sometimes you will see the term: Buyer Exclusions. This means that the seller will take with them certain items that normally stay with the home. The list below will give you an idea of items that generally stay with the home: Window treatments - I have seen sellers wanting to take certain window treatments like their children's curtains. Light fixtures - A seller could have a family heirloom like a chandelier. They do have to replace it with some other kind of light fixture if the buyer states so and it is not in the contract of sale. Most times it is fine with the buyer since they will want their own light fixtures anyway. Applicances - Yes, some will want to keep that shiny new stainless ... 09/25/2014

Is Zillow Accurate? This question was asked of me recently and I said, no, Zillow is not accurate and here are the reasons why: In order to obtain an accurate property values, someone has to see your house. They have to see any improvements you have done over the recent years. Tell me, did a Zillow representative come to your house? I think not. Zillow averages the sales in your neighborhood and averages them out to get the value of your home. The homes surrounding your home are different like you may own a Ranch style home but the other homes could be Colonials, Expanded Capes, Victorian, Expanded Ranch. These homes are traditionally larger than Ranch style homes. Your home could be more updated in and out, you may have larger property, an in-ground pool, 2 or 3 car garage, beautiful l... 09/24/2014

The Kiss of Death for a House on the Market There are certain verbiage you see in house listings descriptions that make you go, "really?" "It won't last long" is the kiss of death for a house on the market. Every time I see it, I bookmark it and sure enough these homes are still on the market including the homes that are priced right. Years ago that term would work but it doesn't now. It doesn't create a sense of urgency amongst buyers like it used to. When most folks see that term, they just say, "sure it will". Other terms that no longer work: "make an offer before it's too late!", "going, going, gone!" And the #1 term I know we all hate, "Motivated Seller". I see that often and for me that is a big no-no. We have to do better by our home sellers. Writing descriptions that showcase th... 09/24/2014

Will Installing Solar Panels on My Long Island Home Raise its Value? I received a call from a homeowner yesterday who asked me this question. Installing solar panels on your home will not raise the market value. It could be more saleable but solar panels are too new yet to determine that fact. In the past year I am seeing more Long Island homeowners install solar panels. It works by the company installs it and also installs their own meter. You are on a contract and the cost per kilowatt is less than what PSEG charges thus saving you around $800.00/year on your electric bill. But, buyer beware. Everyone's electric usage is different. Not everyone will see the same savings as their neighbor, friend or family member. You are also on a contract for 20 years. At the end of the contract you ... 09/22/2014

The Agent with the Highest Listing Price Wins! Picture it, you sit down with a real estate agent because you want to know what your 3 bedroom, 1 bath with tiny property, home is worth. Agent #1 says your home will sell at $350,000. That reality doesn't sit well with you so you call another agent. Agent #2 says, "oh no, you can sell for $400,000". In your eyes, this is the best agent in the world! You call agent #1 and you ask them why did you tell me $350,000 and the other agent says $400,000? Agent #1 asks you to see the other agent's comparable homes. Agent #1 tells you the comparable homes are 4 bedrooms, 2.5 baths on 1/4 acre of property. Then you ask, "why did agent #2 show me these homes? They want to list your house, that's why. It is called buying your listing. I haven't the fog... 09/21/2014

Can I Have a Basement Apartment in the Town of Babylon? You can never have a basement apartment in the Town of Babylon and the same goes for most towns across Long Island. If you want living space in the basement you have to have egress windows installed so people have an escape route just in case there is a fire or other emergency. You also have to file a building permit to do this work. How Do I Know If An Apartment is Legal in the Town of Babylon? The homeowner will have a current rental permit that was issued through the Town of Babylon. You look for the expiration date to make sure it is still current. The permit# is also on the top right hand corner in red. What Will Happen To Me As A Tenant Living In A Basement Apartment? The Town of Babylon will give you 30 days notice to vacate... 09/18/2014

Plan Your Home Sale like You Would Plan Your Vacation It's the calls that real estate agents dread. "I want to sell my house. How much is it worth and what do you charge"? These questions are asked over the phone mostly in part because they do not have the time to sit down for a few hours with an agent. They want a general idea. My answer is I have to see your house first in order to give you a more exact value for your home. Click. Oh well. A few years ago, I met with a homeowner to preview their home in order to do an accurate market analysis. I noticed suitcases in the living room and to do lists on top of them. I told them how impressed I was with how organized they are with planning their trip. Turns out, they were also expecting me to give them information that would help them sel... 09/17/2014

Pet Friendly Condos for Sale in Suffolk County There are 969 pet-friendly condos for sale in Suffolk County. Prices range from $18,500 (mobile home development) to $2.45M in Northport, NY. Property taxes range from $3,336 to $25, 139.30. Maintenance fees/Common Charges range from $42.00 per month up to $5,040.00 per month. The property taxes and common charges will be factored in when you apply to be preapproved for a mortgage.  We love our pets. They are a part of our family. Being able to buy a pet-friendly condo is important. You also have to know if the condo board has breed and weight restrictions. Due to insurance for the condo development, insurance companies have dog breeds like Rottweilers, Pit Bulls, German Shepherds, etc., on their not allow list. Some Suffolk County condo de... 09/16/2014

Facebook Etiquette 101 Facebook was created to keep in touch with family, friends who do not live near us. Sharing photos to show everyone how big the kids are growing, the new house you bought, you got engaged, etc. Pretty much life's milestones. Of course Facebook has evolved beyond that now with finding missing people and bringing important issues to the forefront. Then we have those that take facebook to a whole new level: 5. Messenger - Pick up the phone and call the person instead of using the messenger feature. You will enoy the conversation more. Never use it argue either. Work it out the old fashioned way. This messenger feature reminds me of the old AOL IM (instant message) from the 90's. I didn't like it then either. 4. Bash Your Boss - I see this all the time! Don't think fo... 09/15/2014

Listing Agent Long Island NY - "Moving at The Speed of YOU!" Richie Allan Naggar has come up with a great contest called, "Scratch The Itch with Rich". It challenges us to come up with a tag line/slogan that reflects our business and who we are. "Moving at The Speed of YOU" took a long time to be born. I wanted something different and something that reflects how I do business with my clients. "Moving at The Speed of YOU" means that I will work with my clients at their speed. If a Long Island NY homeowner calls me today, I can meet with them today. If they need me next month, I can do that too. Because I specialize in house listings, my schedule is flexible. When I work with buyers, I cannot work with too many at once. I need my schedule open for my homeowners that need to buy a house. T... 09/14/2014

When Was the Last Time a Babylon Village House Sold for $1,000,000? I have never been asked this question but I did ask myself this last night. I researched the million dollar home price range for Babylon Village starting with 2003 to date. ***Please note that the house #'s have been omitted for privacy reasons. 2003Lucinda Drive (waterfront) sold for $1.2M with zero days on the market  Peninsula Drive (waterfront) sold for $1.310M with 37 days on the market. 2004Belton Court (waterfront) sold for $1.025M with 295 days on the marketCaptree Island (bayfront) sold for $1.1M with 66 days on the marketDorset Lane (waterfront) sold for $1.35M with 35 days on the marketPeninsula Drive (new construction& bayfront) sold for $1.495M with 125 days on the market. 2005Montrose Avenue (not on water)... 09/09/2014

Don't Ask Me to List Your Long Island NY House With all the "hype" we see on tv about how it is a seller's market. Low inventory is abound. That is true in many parts of the country. The Long Island, NY real estate market is also in a seller's market but not everywhere. There are some challenged areas that have a long way to go. A seller's market is when there are less homes on the market compared to the amount of buyers that are out looking for homes. It also comes down to pricing your Long Island NY home properly. An overpriced home is just that, overpriced. Buyers are not going to pay more for your home than what it is truly worth. Their bank's appraiser will appraise your home based on recent sales. If the bank says your home is worth $20,000 less than what the offer is, you either ... 09/07/2014