Tag Archives: Chappaqua Homes for Sale

Chappaqua Homes for Sale

3 Reasons to Keep Going to Open Houses After You Purchase | Chappaqua NY Real Estate

Years ago, after closing on your American Dream with a 30-year fixed loan, you probably didn’t think much about the home’s value until you were ready to sell. Today, there’s so much more information available to home buyers. Markets move quickly, and life happens a lot faster.

And so, many people have become hyper-aware of their real estate investments, frequently watching the rise and fall of market values well after the close. Listing e-mails flow daily, and the Zillow app likely sits prominently on many homeowners‘ smartphones and tablets. Good real estate agents compile “mini CMAs” (Comparative Market Analysis) for their past clients, too, updating them yearly on the latest comps and values.

While it helps to be mindful of your home’s value, you shouldn’t obsess over it. A better strategy is to stay abreast of the local real estate market, just as you’d keep an eye on any long-term investment. Have an idea what’s selling and what’s not. Know what the trends and changes are in your neighborhood, school district or town.

One of the best ways to do this is to go to open houses. Here are three reasons why.

You can learn a lot from listing agents

Open houses aren’t just for buyers. Often, would-be sellers and nearby homeowners represent a large portion of open house traffic. Use the open house not only to see what’s for sale and the price of comparable homes but also to learn about the market. Pick the brain of the listing agent to get his or her take on what’s happening in your area. Real estate agents tend to be aware of market changes well before the mainstream press.

You’ll stay current with the latest home design trends

Sellers generally put their best foot forward. Some go as far as making cosmetic updates or design/staging changes before putting their homes on the market. They likely rely on their real estate agent to suggest the latest and greatest in the market. So if you bought a home that needs updating, or you aren’t sure where to begin when it comes to choosing paint colors, countertops or bath fixtures, going to open houses will allow you to see styles and designs.

You can get referrals for local real estate specialists, contractors or designers

Want to be connected to a good local designer or contractor? Ask the real estate agent selling the home you liked if they can get you the contact information. Though getting referrals from friends is also a good idea, seeing the finished product in an open house can inspire you to replicate what that owner did and how they did it.

Never forget: Your home is an investment

Ultimately, the property you’ve purchased is your home. You should make remodeling or upgrade choices according to your wishes, without forgetting that your home is also an investment. Try to find a balance between whatever personal choices you have in mind and what might appeal to potential buyers down the road. For example, painting a room a dark red color or choosing highly taste-specific fixtures or designs may appeal to your taste buds — but will likely alienate a potential buyer down the road. Of course, it’s not uncommon for homeowners to make last-minute changes to their home to make it “market ready.”

The iPhone’s Hidden Costs | Chappaqua NY Real Estate

The iPhone 5 is a C-average student. At least, that’s the grade InsuranceQuotes awarded the smartphone, based on its effect on public health, the environment and the U.S. economy.

In the video above, the insurance news publisher weighed the pros and cons of newer iPhone models and gave them a solid C+ grade. Apple has come a long way in making its mobile devices more environmentally friendly, but poor conditions in Chinese manufacturing plants have led to employee suicides and protests.
Likewise, InsuranceQuotes found the cost to charge a smartphone over the course of a year to be negligible, but the overall cost of maintaining an iPhone is high — more than 4% of the average American’s salary, including the cost of data plans, accessories and those addictive apps.

Take a look at some of the other factors InsuranceQuotes considered in the video above. And tell us what grade you would give your smartphone in the comments section below.

 

Dublin Home Prices Rose Most in Six Years | Chappaqua NY Real Estate

Dublin home prices rose the most in six years in September, the latest sign that Irish residential property prices are stabilizing after the country’s decade-long real estate bubble started to deflate in 2007.

Home prices in the Irish capital rose 2.4 percent from a month earlier, the biggest gain since August 2006, the Central Statistics Office said today. Residential property prices nationwide rose 0.9 percent in September, marking the third consecutive month of gains.

“Anecdotal evidence points to pent-up demand for family homes, especially in certain areas of Dublin,” said Alan McQuaid, chief economist at Merrion Capital in Dublin. “While the figures are encouraging, I think it is too early to say whether house prices are on a steady upward rise.”

Irish property prices are gaining after homes lost half their value since a property crash pushed the nation to the brink of insolvency and the unemployment rate tripled. A lack of bank credit and the end of tax-relief measures for new buyers next year along with high unemployment will weigh on the housing market, according to McQuaid.

Ireland’s unemployment rate was unchanged at 14.8 percent in September. New Irish mortgages granted in the second quarter declined 16 percent to 524 million euros ($678 million) from the same period a year earlier, the Irish Banking Federation said in August.

“For homes in well-established parts of Dublin, demand is outstripping supply,” Aoife Brennan, head of research at Lisney, an Irish broker, said in a statement today. “In recent months, cash buyers have been making up about 40 percent of the Dublin market.”

The CSO data is compiled with mortgage data from lenders. Dublin home prices would show a bigger increase if cash purchases were included, according to Lisney.

The Realtor’s 3 Step Guide to Managing Online Reputation | Chappaqua NY Real Estate

The Realtor’s 3 Step Guide to Managing Online Reputation

I thought this was a nice infographic from our friends at DooID.  We talk a lot about your online reputation on Tech Savvy and the things you need to do to stay on top of it, so this graphic falls right into place here.

Here are the three steps they recommend to get started.

1. Define Your Personal Brand

2. Build Your Online Identity

3. Monitor Your Reputation

Check out the graphic below to see the tools you can use to successfully manage your reputation.

How to Buy a Home Below Current Real Estate Value | Chappaqua NY Reator

Want to increase your chances of buying a home below current real estate value? Just look for a seller who didn’t listen to his agent.

The best real estate agents encourage their sellers to do whatever it takes to get the home in its absolute best condition before going to market. The better the home shows, the more likely the seller will get top dollar.

Sometimes, this could be as simple as removing personal items or decluttering. Other times, an agent will suggest bigger fixes, such as painting, replacing carpet or upgrading countertops or cabinets. Savvy sellers listen to their agents, make the changes suggested and go to market in top form. That’s not always how it plays out, however.

For any number of reasons, many sellers protest suggested fixes. Either they don’t want to be inconvenienced, don’t believe the fixes will matter or don’t have the financial resources to make it happen. Inevitably, this means the buyer will get a discount on that property.

How to spot a home that might sell below its value

Is there a home for sale in a good neighborhood and in the desired school district that seems to be well-priced but for some reason isn’t selling? This is the home you want to investigate, because chances are the seller didn’t listen to his agent. Specifically, here are some tell-tale signs to look for.

Big furniture or a lot of furniture

Most people don’t buy furniture to use when staging their home. Often a seller may have a lot of furniture in one room, which makes the room look small to potential buyers. Real estate agents and professional home stagers know this all too well. For example, stagers always suggest a small loveseat over a full-blown couch or sectional sofa. Also, in the bedrooms, king beds often take up too much space. So a stager will often push the seller to swap it out for a queen or full-sized bed.

When you enter a house that seems crowded with furniture, imagine the rooms with fewer or smaller pieces. Be aware that plenty of potential buyers won’t get past the sense that the rooms are too small, and they’re likely to move on to a home that feels bigger. In turn, this could give you room to negotiate a good deal with the seller.

Dark rooms

There was a home in West Hartford, CT on a great block, but the interior was dark. Three large French doors in the living room led to a deck, but the doors were stained black, and the carpet was brown. On top of that, the window coverings were big, heavy and overtook the room.

The house sat on the market for months, even though the price wasn’t far off the real estate market value. Here’s why: Every buyer walked in and out because the house was so dark. After the home had been on the market for three months, a smart buyer made an offer $40,000 below asking and ended up getting it.

Before the buyer moved in, he removed the window coverings, stripped the stain on the doors and painted them white, pulled up the old carpet and had the floors stained to a lighter oak. Right away, the dark room became light, bright and welcoming. The buyer’s total cost: $9,000, which instantly added $31,000 to his equity.

Grandma or Bambi staring down from the walls

Buyers are looking to see themselves — and not the current owners — in a home. Too often, however, the seller hasn’t “depersonalized” his home enough, or at all. Even though the listing agent may have told the seller to clear the house of his possessions, the seller may be proud of his accomplishments and resist.

And so potential buyers are treated to walls decorated with diplomas, family photos, awards and trophies. Moose and deer heads hanging on walls are surefire deal killers, especially when the hunting rifle used to kill Bambi is proudly displayed, too. At best, buyers tend to see such highly personal stuff as clutter that takes the focus away from the home. They’re turned off by it all, and they walk away.

They might also be walking away from a great deal. Are the bones of the home good? Does it have the floor plan you like? Are the kitchens and baths in acceptable condition? Is it in the area where you want to live? If you say “yes” to all of these, hang around a little longer. Imagine the home without the seller’s junk. Picture yourself living there, without Bambi.

A good home that doesn’t show well = a great opportunity

Ultimately, sellers who don’t listen to their agents or stagers inadvertently give savvy buyers a discount. For you to see that potential, try to understand as much as you can about why the seller is selling. Look for sellers who have ignored their agent’s advice. While conventional wisdom says that a buyer would be turned off by a home that shows poorly, go against this. Imagine the potential. And then, once the home is yours, make those small changes the seller should have made. Right away, you’ll have a little bit (maybe even a lot) of equity, thanks to the seller.

Lost Home Equity Leaves Thirty-somethings Vulnerable | Chappaqua NY Real Estate

Contrary to popular belief, loss of equity in their homes since 2007 has hurt adults in their late thirties more than their Baby Boomer parents, contributing to fears that they will not have enough income and assets for their retirement, according to a new Pew Research survey released today.

Americans today are more worried about their retirement finances than they were at the end of the recession in 2009, especially younger and middle-aged adults rather than among those closer to retirement age-a major shift in the pattern that had prevailed at the end of the recession.

About four-in-ten adults (38 percent) say they are “not too” or “not at all” confident that they will have enough income and assets for their retirement, up from 25 percent in a Pew Research survey conducted in late February and March of 2009. Among adults between the ages of 36 and 40, 53 percent say they are either “not too” or “not at all” confident that their income and assets will last through retirement. In contrast, only about a third (34 percent) of those ages 60 to 64 express similar concerns, as do a somewhat smaller share (27 percent) of those 18 to 22 years old.

Fears over retirement are driven by a companion Pew Research analysis of data collected by the Federal Reserve Board in its Survey of Consumer Finances. For most Americans, equity in their homes represents most of their wealth and the collapse of housing values in the middle of the past decade sent personal wealth into a nose dive for most homeowners, regardless of age.

Overall, the Consumer Finances survey found that median home equity-the fair market value of a home less the amount of the outstanding mortgage and other liens-fell by about a third (32 percent) from 2007 to 2010. And U.S. Census data released in June found that most of the decline in median wealth between 2005 and 2010 can be attributed to sinking home values.

Median home equity-so-called housing wealth-declined the most for homeowners ages 35 to 44. Between 2007 and 2010, the equity of homeowners in this age group was cut in half (52 percent). In contrast, housing wealth fell by 30 percent among those 55 to 64 and by 20 percent among adults 65 and older.

Adults 35 to 44 years old have a much greater share of their wealth represented by their home equity because they have not yet had the time to accumulate financial wealth. Moreover, these younger adults have had less time to build equity, so the market collapse cut into a greater share of a smaller base than for longtime homeowners. Finally, this age group benefitted less than older adults from the rise in stock market values since many sold their holdings when stocks fell in 2009.

The S&P 500 Index peaked at 1,576 in October 2007 but then fell to a modern low of 667 in March 2009. Since then, the stock market began a steady rise, closing at 1,258 on the last day of December 2010. It now stands at about 1,450, nearly back to its earlier peak.

During this decade of wild market swings, ownership of stocks and retirement accounts, such as 401(k) and thrift accounts, fell among most age groups. But the declines were greatest among those ages 35 to 44. The proportion of adults in this age group who directly held stocks declined by nine percentage points from 2001 to 2010, with half of this drop occurring before 2007. In contrast, the share of adults 65 and older who directly held stocks declined only 3 percentage points from 2001 to 2010, from 21 percent to 18 percent.

The proportion of 35- to 44-year-olds who held stocks indirectly through retirement accounts also disproportionately fell by 9 percentage points, about double the decline among those younger than 35 or between 45 and 54 years old (4 percentage points for both groups). As a consequence, those in the 35 to 44 age group have benefited less from the rapid increase in stock prices since 2009 because they were less likely than their older counterparts to own stock and retirement accounts.

Agents: Do not be afraid to set yourself on fire | Chappaqua NY Real Estate

“Success isn’t a result of spontaneous combustion. You have to set yourself on fire.”

That’s a quote by Arnold H. Glasow I came across years ago that always stayed with me.

I speak with agents almost every day. Selling real estate is a tough business.

Between navigating the shifting expectations from buyers and sellers, building your brand presence online and trying to keep up with all the shiny new tech and social media tools in our space, pushing yourself to innovate your business and experiment with your marketing strategies can be daunting.

That’s why HomeFinder.com set out to find some of the most creative agents across the country who blaze their own trails and find success using digital marketing across YouTube, Instagram, Blogging, Facebook and Single Property Websites. For these agents, success meant actual sales, marketing credibility and lasting client relationships.

We put their stories together in this free E-book, Five Agent Success Stories – Close More Business Using Digital Marketing.

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Five Agent Success Stories – Close More Business Using Digital Marketing

In each story, you’ll learn:

  • How that agent uses that specific marketing channel or tactic in his/her business
  • Detailed success stories that led to a sale
  • Advice to get started or recharge your past or current efforts

Here’s a sneak peek and a few excerpts from one of our fire-starters – Kendyl Young.

Kendyl is an agent with Teles Properties in Glendale, CA. She has produced videos for her business for three years and has more than 146 videos on her YouTube channel for her listings and neighborhoods.

Kendyl constantly gets into situations in which she knocks on someone’s door or
sees someone out at a restaurant and they recognize her from her videos. One such instance happened at a pizza place, where a fellow patron instantly recognized her.

This man watched her market report videos and said he’d always wanted to meet her because of them. He thought she was very smart and would always forward her videos to his
friends who were interested in real estate.

By using YouTube like this, Kendyl made invaluable inroads to this potential client’s insular community without ever having met him or any of his friends.

“It’s made me realize my videos have far more reach than I would have thought,” she said.

A few of Kendyl’s YouTube tips:

  • Resist the temptation to turn on your smartphone and shoot whatever comes to mind and post.
  • Watch as many real estate videos as you can. Note what you like and what you don’t.
  • If you are not willing to learn how to make good videos yourself, find a professional. Everything you put out there is a reflection of the quality of your business.
  • Good sound is more important than good visual.

Kendyl’s story continues in this E-book, along with four others.

Take a cue from these agents who have already tried and succeeded. Learn, borrow, adapt.

And don’t forget to keep those matches handy.