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By Heide Lippacher | Agent in 11561
  • Appraisals Are Challenging in an Appreciating Market

    Posted Under: Home Buying in Nassau County, Home Selling in Nassau County  |  October 19, 2012 12:58 PM  |  1,005 views  |  No comments

    Appraisals Are Challenging in an Appreciating Market

    Posted: 18 Oct 2012 04:00 AM PDT

    The real estate market is recovering with prices in most regions of the country showing assorted levels of appreciation. In a market where prices are escalating, the appraiser may find it difficult to find appropriate ‘comps’ for your listing. That can cause challenges during your real estate transactions as appraised values may not reflect market conditions such as rising prices, multiple bids, and low inventory.

    In a recent survey conducted by the National Association of Realtors (NAR), it was revealed that:

    § 11% of Realtors said a contract was cancelled because an appraised value came in below the price negotiated between the buyer and seller

    § 9% reported a contract was delayed

    § 15% said a contract was renegotiated to a lower sales price as a result of a low valuation

    Discuss this situation with both buyers and sellers right from the beginning. By managing expectations early, it will enable you to better handle the challenge should it arise.

  • Now May Be The Time To Buy* Calling A Bottom In The Housing Market

    Posted Under: Home Buying in Nassau County, Home Selling in Nassau County, Rent vs Buy in Nassau County  |  October 15, 2012 12:38 PM  |  1,029 views  |  No comments

      Now Is The Time To Buy* Calling A Bottom In The Housing Market

    With sales and prices increasing in most regions of the country, it looks as though housing recovery is in full swing. There are more and more housing analysts declaring that we have turned the corner. A recent article on money-rates.com explains that now may be the time to act if you are thinking of purchasing a home.

    “Right now, conditions for buyers are exceptionally good, because current mortgage rates are at record low levels, and housing prices are still well off their peaks. Already though, recent numbers indicate that housing prices are starting to move. If this continues, mortgage rates might follow. In particular, if lower-end housing prices are now making the strongest gains, people looking to enter the housing market for the first time should prepare to act.”

    Others Are Also Calling a Bottom

    In a Chicago Sun Times article, co-creator of the Case-Shiller home price index Robert Shiller agreed saying that, even though there are still questions in the overall economy, “it’s a good time to buy a house”.

    Ivy Zelman, chief executive at research firm Zelman & Associates, has also said:

    “[Housing] is turning positive and we see the data reflecting that.”

    Writing in the Financial Times, Roger Altman, former deputy Treasury secretary, said:

    “A turn in the [housing] market is occurring now and it should become a boom by 2015.”

    And Jamie Dimon says the U.S. housing market has “turned the corner” as JPMorgan Chase and Wells Fargo, the two biggest US Banks have seen a surge in mortgage demand. He also warned that interest rates would “probably” rise “sometime in 2013”.

    What Does That Mean to You?

    If you have been waiting for the bottom in real estate prices, it seems your time may have arrived. As the Money-Rate article concluded:

    “The housing market may be better off than people know. As many found out during the housing boom, waiting until everyone knows the market is healthy before you buy can be an expensive proposition.”

    Heide Lippacher
    Charles Rutenberg Realty
    (516) 662-8790
    Website: www.SoldByHeide.com
    Email: HeideRealEstate@gmail.com

  • How To Price Your Home For A Successful Sale

    Posted Under: Home Selling in Oceanside  |  October 17, 2009 12:36 PM  |  1,822 views  |  2 comments
     Price your home incorrectly and it could mean a long stay on the market    
      and a final
     selling price lower than what you had originally hoped.

    Should I price my property high so I can come down?
      No.  By pricing your home too high you actually encourage a buyer to go elsewhere. Buyers are usually looking at a number of properties and they are price comparing.  If your property is overpriced in relation to the others the buyer is seeing, then the buyer most likely will be driven away.  When you meet with Heide she will help evaluate the recent sales and property activity that applies to your property and help you determine the best pricing strategy.
     Price.  If your home is overpriced in the real estate market – you are fighting an uphill battle that you may never win.  By pricing your home too high your home will likely sit on the market longer and may eventually sell for a lower price than you originally hoped.  Pricing your home more competitively in the market will lead to early interest and a greater number of offers.

    Withdrawn & Expired Listings 
    The majority of expired listings are due to an owner being misinformed on price, and setting a list price that was too high. Another means for expired listings is the lack of exposure and the proper marketing.
    Sold Comparable Properties
    • Reviewing the HISTORY for expired and withdrawn listings will determine whether any of the sold properties were taken off the market and relisted. If so, adding those days on the market is necessary to arrive at an actual number of days on market.
    • Adjustments in pricing should be considered for square footage, lot size variances, upgrades,finished basements,larger garage and additional bathrooms, waterfront property
    • updated kitchens,landscaping,decks,patios etc.
    Why an appraisal before your home hits the market might be wise: The fresh appraisal will help accurately price the home and ensure it will eventually appraise for your asking price at the time of the sale. Sellers are sometimes shocked when their house appraises below the asking price, which could cause a deal to fall through.

    It's important for sellers to have an expert opinion about their home's value before setting an asking price. One of the best ways to do this is through comparative home sales — known as comps — and appraisals.
    What are comps?
    Unlike tax assessment values or the replacement value that an insurance company would calculate, comps relate directly to current market conditions.Comps originate from records stored in real estate databases, describing homes that have sold in an immediate neighborhood or similar nearby area. They're what most Realtors®and appraisers use to value homes. The time frame of the comps will vary according to the market.
    Comps match certain characteristics of the home you're valuing. For example:
      Location: Preferably within a six-block radius
      Size:   Square footage, lot size including the yard, and number of rooms (especially  
         bedrooms and baths)
      Age:    The years built and renovated
    Condition:  Whether the home is in mint condition,needs updating or is a fixer-upper.
    Features:  The details and amenities of the home, such as a remodeled kitchen or a great
           bathroom etc


    When Your Ready To Sell 
    Disconnect Your Emotions
    You need to think of your house as a marketable commodity, Property, Real estate. Your goal is to get others to see it as their potential home, not yours.

      • Agent and Marketing Plan.  After your home has been retouched, staged and priced competitively your agent Heide will implement a great marketing plan to get the word out about your home. When hiring me I will ensure that I am not only knowledgeable, experienced, friendly, and hard-working, but also that I have great marketing skills to effectively promote your home to all potential buyers..


  • A Few Ideas Of How I Will Sell Your Home

    Posted Under: Home Selling in Long Beach  |  October 17, 2009 8:20 AM  |  1,811 views  |  No comments

    When you're looking for a partner to help you negotiate the complexities of selling a home, you've come to the right place. The experience, dedication and strong communication you'll receive from me will help ensure the successful and profitable sale of your home:

    1. The Local Advantage - Take advantage of a broad spectrum of technologies and tools to support the sale of your home from start to close.

    2. Internet Advertising - Since the lion's share of home buyers starts their search on the internet, top placement on search engines is essential. You'll gain access to placement on Google, MSNBC, and other websites. This will maximize your exposure and bring a large number of potential buyers to view information about your home.

    3. Email Campaigns - It's important to "work the network." We can work together to identify the right people to target your home-and get in touch with them by email to drive excitement and interest.

    4. Personal Touch - Of course, technology alone won't sell your home. Face-to-face interaction provides the advantage to sell your home-and you won't have to worry about a thing. The details will be handled with care and constant communication, to ensure the marketing and sale of your home go smoothly.

    (516) 662-8790
    Charles Rutenberg Realty
    Website: http://www.SoldByHeide.com

  • Strategies for Selling in a Slow Market

    Posted Under: Home Selling in 11561  |  April 17, 2009 7:19 AM  |  1,816 views  |  1 comment

    Strategies for Selling in a Slow Market


     housing market cycle is driven by supply, demand, as well as economic factors.
     During a hot selling
    period where there are more buyers than available houses for sale, sellers
    are likely
    to sell their homes faster and are able to command a higher price.
    However, when
    the market shifts and there is a surplus of properties for sale, sellers face more challenges as homes often take longer to sell. 

     For homeowners that are planning to
    sell in a slow market, you can maximize your sale by
    having a strategy in place.
     Consider calling Heide as your  professional assistance instead of
    selling on your own as you’ll
    need every marketing resource available to give your home the
    maximum exposure to
    attract home buyers. As your  listing agent I will employ various
    marketing strategies such as
    placing your home on the local Multiple Listing Service (MLS)
    system, using visible
    signage, printed media and internet coverage, sending out mailers and
    marketing emails,
    arranging brokers’ tours, holding open houses, and networking.

      Be realistic with your home sale expectations. With more homes on the market, buyers can be choosy, and you may not get the top price that you want. By familiarizing yourself with your neighborhood’s real estate market and recent sales, you can get an idea where prices are  trending. In a slow market, price is an important factor. 

    An overpriced
    home may not sell, whereas a well-priced listing is more likely to attract
    a higher number of prospective buyers and encourage reasonable offers. As a professional
    listing agent I will be able to determine what your home is
    worth and come up with
    a competitive asking price. 

    Be sure that you are serious and motivated to sell before putting your house on the market. A
    slow selling market is not the time to test to see how
    much money you can get for your home.
    Have your house easily available
    for showings to agents and buyers, and be open to feedback.
    Don’t be too
    susceptible to reducing your asking price, but be flexible to make price adjustments if necessary. By taking an active role in the planning and selling process of your
    home, you can still facilitate a timely and profitable
    sale in a slow market.

    Prepare your home so that it is in its best condition. Homes that are sold in “as is” condition that need repairs may deter buyers and take longer to sell. Consider getting a professional
    home inspection before listing your home, so you’ll be aware of any defects or necessary
    repairs. Make the recommended repairs to avoid from having to reduce your price for
    concessions. Even some minor improvements or cosmetic upgrades can significantly increase the value of your home. Get your home in a move-in ready condition by removing clutter or excess furniture, re-painting rooms and walls, and cleaning or replacing the carpets. Spruce up your home’s exterior curb appeal to create a lasting first impression. An immaculately landscaped yard with flowers and greens can help boost the home’s value.

    Charles Rutenberg Realty
    (516) 662-8790
    Website: www.SoldByHeide.com
    Email:  HeideRealEstate@gmail.com
  • There Are Many Factors To Consider When Contemplating Selling Your Home

    Posted Under: Home Selling in 11561  |  March 21, 2009 6:20 AM  |  1,853 views  |  1 comment

    There are many factors to consider when you are contemplating making a move. Price is one of the most important.

    Another factor to consider is when to sell. The decision about when to put your home on the market is usually determined by when you want or need to move. Once you have decided on a move date, we can analyze the approximate time your home should take to sell by looking at the average time on the market for comparable homes in your price range.  I would be happy to gather that information for you when you are ready.

    When you do decide to sell, you'll want to view your home through the eyes of a potential buyer. Some points of consideration are:

    * Is your home in 'show shape'?
    * Are there repairs that need to be made?
    * Does the paint need a bit of touching up?

    If you would like, I can take a quick tour of your home and suggest some simple ways to prepare your home for the market.

    Proper pricing and a home that is in 'show shape' will eliminate some of the hassles and help sell your home faster, maximizing your time and profits.

    Please feel free to call or email me. I will be happy to provide you with valuable information so you can feel comfortable with the process and make an informed decision about when you want to move.


    Heidi Lippacher
    Charles Rutenberg Realty
    (516) 662-8790
    Website:  http://www.SoldByHeide.com
    Email:  HeideRealEstate@gmail.com

  • Ownership Of A Cooperative Apartment

    Posted Under: Home Buying in Nassau County, Home Selling in Nassau County  |  March 21, 2009 6:08 AM  |  2,528 views  |  4 comments

    What is a Cooperative Apartment?

     A cooperative corporation owns the building that includes the individual apartments and the common areas. The corporation issues shares of its stock (the Stock Certificate) allocated to each apartment based upon its size and location within the building. As a shareholder in a corporation, you are entitled to a lease from the corporation (the Proprietary Lease) giving you the right to live in the apartment.

     Most cooperative corporations have a mortgage on the entire building (the Underlying Mortgage) and each shareholder may obtain their own loan for the purchase of their apartment. The Stock Certificate and Proprietary Lease allocated to the apartment are pledged to the lender as security for the loan and a Uniform Commercial Code Financing Statement (UCC-1) is filed in the county where the apartment is located so that the lender has a lien on the Stock Certificate and Proprietary Lease.

    As a coop owner, you pay a monthly maintenance fee to the coop corporation which consists of your proportionate share of the cost of operating the building. Typically, operating costs for the building consist of property taxes, monthly payments on the Underlying Mortgage, insurance, utilities and labor costs. You are entitled to deduct a portion of your maintenance payment from your taxable income.

    Your right to alter the interior of your apartment will be proscribed by rules of the coop and may be subject to the consent of the Board of Directors. When you purchase or sell a coop, you must obtain the approval of the Board.

    The coop corporation is governed by an elected Board of Directors whose powers are derived from the certificate of incorporation, bylaws, rules and regulations and the Proprietary Lease. The cooperative's Board of Directors makes all decisions as to the maintenance paid by each shareholder, the upkeep of the building, the amount of the Underlying Mortgage, right of sublet, who will be approved for purchase, repairs and alterations of individual apartments and payment of all building expenses.

    Heide Lippacher
    Charles Rutenberg Realty
    (516) 662-8790
    Website: www.SoldByHeide.com
    Email:  HeideRealEstate@gmail.com

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