How to Increase Your Home Value in Long Island

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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!

Don't Rely on Zillow's "Zestimates" to Sell Your Long Island Home

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

Today, I will discuss Zillow's "Zestimates." When it comes to Zillow, it's important to take a step back and consider what information is gathered to make a "Zestimate."

Zillow says that their estimates are accurate by 20% give or take. If your home has a "Zestimate" of $300,000, Zillow is claiming it's accurate from $240,000 to $360,000, which is clearly a span of $120,000. Certainly, that is not accurate enough for anyone to make a wise decision when it comes to selling their home.

When you need a home value for today's market, it's very important that you contact a professional real estate agent.

Zillow's estimates are based on recently sold homes and homes on the market in your area. If you dig a little deeper though, you realize that Zillow does not know what is inside your home. They don't know what upgrades you have made, what the layout is, or what a buyer would really feel your home is worth in today's market.

If you have any questions about your home's value, please give me a call or send me an email. I'd love to help you.

What Are Some Common Buyer Mistakes?

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

There are a lot of different mistakes that you can make when searching for homes in Long Island. Some of these mistakes are obvious and others are not so much.

The first mistake that people often make is that they fail to speak to a lender before they start looking for homes. It's extremely important to figure out what you can afford before you start searching for homes. You should aim for a comfortable monthly payment, and not one that will leave you stretching dollars thin.

You also don't want to look at homes that you cannot afford, and then have your heart broken when you find out that you cannot purchase it.

Another problem is when you hop around from Realtor to Realtor. When you talk to lots of different agents, none of them will really have a solid idea of what you want. I think it's a really good idea to stick with one Realtor and allow them to help you. When you know them on a more personal basis, they can satisfy your needs in a more efficient way.
 

The last mistake that I see people make is that they're buying homes from a listing agent. A listing agent is working on the behalf of the seller, and will not work to get you the best deal possible. You need to have someone representing you when you buy a home, and a listing agent is not an appropriate person for a buyer.

If you have any questions about these issues, please don't hesitate to contact me. I would be very happy to help you!

Should You Rent Your Home Instead of Selling?

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

Once you have made the decision to move to a new home in Long Island, you may ponder the idea of renting out your previous home to a tenant instead of selling it. Most people aren't aware beforehand, but being a landlord is a full-time job, and not everyone is cut out for it. You've got to be prepared for anything when it comes to being a landlord. Today we want to discuss with you some things to consider if you are contemplating renting out your home.

The first problem you will encounter is finding qualified tenants. Then you will have to figure out how they will pay you. You also have to understand that your home likely won't be cared for by the tenants in the way you had intended. 

Also, you have to go through different scenarios to determine if you can handle all the risks involved with renting your home out. What if the tenant stops paying rent? It's not all that uncommon, and when it does you will need to determine whether you can get by comfortably without that income. 

There are many things to consider when thinking of becoming a landlord. Go through each of the above scenarios to see if the time is right for you. If you have any questions, feel free to give us a call or send us an email. We look forward to speaking with you!

The Secret to Handling Multiple Offer Situations

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As market activity in Long Island continues to pick up, we are going to see an increase in multiple offer situations. In order to help you make the most of these situations, we want to share some crucial information with you! 

If you're buying a home today, you may find yourself in a multiple offer situation. To have success in this situation, it's very important to be prepared. By being prepared, we mean you need to have a pre-approval in hand and understand the market value of the home. Lowball offers can really hurt you in multiple offer situations; it's more likely for a seller to consider the buyer who submits a realistic offer more seriously. If you find a home that you love, you need to educate yourself on the pre-approval process and make a serious offer. 

If you're selling in a multiple offer situation, you also need to take certain precautions. The first thing you should look at is the buyer's approval and ensure they are lending through a reputable bank. You also need to consider the down payment they can afford and their flexibility when it comes to closing. The bottom line is cash isn't always king! The terms of the offer may be worth sacrificing some money on the purchase price.

If you have any questions about multiple offer situations, or if you need real estate assistance of any kind, call or email us today for a free consultation. We would love to hear from you!

What You Need to Know About Long Island Real Estate

Want to sell your home? Get a free home value report

Want to buy a home? Search all homes for sale

Thanks for tuning into my real estate video blog. I'm pleased to bring you timely information about our local real estate market that will help you to take advantage of current market conditions.

Overall, now is a great time to be buying or selling. We're seeing a lot of first-time home buyers coming onto the market because interest rates are below 4% and it's relatively easy to get financing for a home. 

Sellers should be pleased because high affordability means that they can get more money for their home when they sell it, and they can then turn around and upgrade into a larger, nicer home. 

No matter what you do - whether it's buying or selling - you can't really make a bad move in the New York real estate market. Please contact me if you need any assistance!