How Do Short Sales Work?

Want to sell your home? Get a FREE home value report. 

Want to buy a home? Search all homes for sale.

I’m asked quite often about short sales, so I’d like to discuss them with you today.

A short sale is what happens when a homeowner or a seller owes more money on the home they are selling than what a buyer would potentially pay for it. 

If, for instance, a seller owes $400,000 on their home but is looking to sell it for around $300,000, they would be considered upside-down on the property. A short sale would take place when they notify a Realtor that they’re looking sell, the house hits the market, and the seller is fully aware that they will have to negotiate with their current mortgage company to allow them to move on from the property after they find a buyer willing to pay fair market value.

“

A short sale happens when a seller owes more on their home than what it’s worth.

”

This is a very brief summary of a short sale, so if you’re finding yourself interested in the idea of a short sale while you’re searching for a home, please give me a call or send me an email for a more in-depth explanation about what kinds of control you do and do not have as a purchaser.  I hope to talk to you soon!

Is Now a Good Time to Sell in Long Island?

Selling your Long Island home? Get a free home value report 
Want to buy a Long Island home? Search all homes for sale

A lot of my clients in Long Island think that the real estate market shuts down during the fall and winter, but this is not true. Traditionally the spring and summer real estate markets are the busiest, but just because they're competitive doesn't mean that it's also the best time to sell a home. 

The fall and winter may actually be the best time to sell your home, and there are two reasons why this is true. When you sell your home in the fall and winter, you have much less competition surrounding it. When you have fewer sellers in the market, your home has a greater chance of selling quickly and for top dollar.

The other important factor comes down to how many buyers there are in the market. In the fall and winter there are usually fewer buyers, but they are far more serious about purchasing your home. This means that you have an opportunity to sell in a less crowded market with more serious buyers.

What does that mean for you? It means that you can sell more quickly and for more money in the fall and winter! 

Please don't hesitate to contact me if you have any questions or if you'd like to sell your home for top dollar this fall!

How to Increase Your Home Value in Long Island

Selling your Long Island home? Get a free home value report 
Want to buy a Long Island home? Search all homes for sale

Sellers in Long Island always ask me about how they can quickly and easily increase the value of their home before they sell. Each home is different and will require different remedies, but there are certain things that can help all home sellers.

This might seem obvious, but cleaning and decluttering are the #1 way to get more money for your home. This is really easy, but it requires a lot of effort. We accumulate a lot of belongings, and clutter can distract buyers immensely. 

We're not saying that your belongings are undesirable, they just won't help you to sell your home. It's a good rule of thumb to throw away or pack away at least 1/2 of your belongings before a buyer comes to see your home.

Another easy thing to do before a sale is hiring a professional painter to come in and spruce up your interiors. Paint in an earth tone, or something neutral, and make sure the paint is uniform throughout your home. It's also not a bad idea to have your hardwood floors re-stained. These are some of the best repairs to make before you sell.

If you're interested, I can stop by your home and provide suggestions on how you can improve the look and feel of your home before a sale. If you do it right, buyers will not think twice about purchasing your home. 

Please feel free to contact me if you need help buying or selling in Long Island!