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Thomas Brady's Blog

By Thomas Brady | Agent in Suffolk County, NY
  • Pocket Listings

    Posted Under: Market Conditions in Suffolk County, Home Selling in Suffolk County, Agent2Agent in Suffolk County  |  December 16, 2013 10:17 AM  |  233 views  |  No comments
        Lately I've been coming across more and more pocket listings. When I check upon closing, in my view they generally sell for less, and sometimes substantially less, than they should have. Today I came across a short sale pocket listing. I'm hoping an agent or broker can enlighten me as to how a pocket listing benefits the seller in all but the most unique of circumstances, and specifically if a short sale pocket listing can be justified as in the best interests of the seller under any circumstances. Just looking for opinions, not arguments, thank you.
  • Good Time of Year for Buyers

    Posted Under: Market Conditions in Suffolk County, Home Buying in Suffolk County, Home Selling in Suffolk County  |  October 24, 2013 2:06 PM  |  249 views  |  No comments
    While many areas of Long Island will experience a seasonal slowdown in home sales, it's a good time to be a buyer. There will be less inventory to choose from, but sellers that must sell will be forced to price aggresively because this time of year the buyer pool is drying up. This means there will be some bargains to be had. My advice to buyers is to have an agent that will search out the deals for you, and be a bit flexible in your list of desires. Look for value going forward, you may have the chance to buy more house than your current needs dictate. If you have a good agent and are flexible you will find good deals.

    Tom Brady SFR, e-PRO, SRES, BPOR
    Licensed Associate Broker
    Notary Public, Retired N.Y.P.D. Lt.
    631-682-8660
    Tom@BradyFamilyRealty.com
    www.BradyFamilyRealty.com
    www.SuffolkFreeCMA.com
    www.NassauFreeCMA.com
    #1 Listing & Selling Office on Long Island
    Charles Rutenberg Realty, Inc.
    255 Executive Drive - Suite 208
    Plainview, New York 11803
  • Know Your Agents

    Posted Under: Market Conditions in Suffolk County, Home Buying in Suffolk County, Home Selling in Suffolk County  |  October 4, 2013 12:33 PM  |  272 views  |  No comments
    Many home buyers don't understand the basics on real estate agents and who they are representing. When you first start dealing with an agent they give you a New York State Disclosure form stating who they are working for, but few buyers take the time to absorb this vital information.

    When you go to an open house the agent holding it is working for the seller (referred to as the listing agent or seller's agent). They may be a great agent, very friendly and easy to talk to; but they are working for the seller. Anything you the buyer tell them they are obligated to tell the seller and to use the information gained in the seller's best interests. There is nothing wrong with buying a house through the seller's agent, it's done every day. If you are confident that you can negotiate a good deal and are familiar with house values and local market conditions this type of arrangement can turn out just fine. For those of you who aren't that confident and would like to get advice you can rely on read on.

    For buyer's that want confidential advice, negotiating help, comparable advice etc. there is the buyer's agent. A buyer's agent should be paid by the seller (not always the case so be careful what you sign) but work's for you the buyer. Anything you tell the buyer's agent is between you and them. The buyer's agent's job is the opposite of the seller's agent's job, it's to get the buyer the best deal possible and protect the buyer's  interests. So if you're not comfortable representing yourself and you'd like expert advice, a buyer's agent is the way to go.
  • Interest Rates Hurting Recovery

    Posted Under: Market Conditions in Suffolk County, Home Buying in Suffolk County, Home Selling in Suffolk County  |  August 23, 2013 4:50 PM  |  371 views  |  No comments
    Steeply rising interest rates seem to be putting the brakes on the housing recovery. What was astrengthening  market seems to have lost some steam as buyers purchasing power is being eroded by higher interest rates. Motivated sellers, at least in the short term, may have to accept lower offers if they need to sell. Buyers may have to jump in or risk getting shut out by even higher rates. We will see if this is a continuing upward trend which will cripple the recovery, or just a temporary blip with rates coming down again.

    'Reproduced with the permission of Mortgage-X.com'
  • Long Island Housing Market Uneven in 2013

    Posted Under: Market Conditions in Suffolk County, Home Buying in Suffolk County, Home Selling in Suffolk County  |  May 19, 2013 10:03 PM  |  489 views  |  No comments
        While we have seen multiple offers and bidding wars in some areas, other areas don't seem to be attracting the buyers. It's still true that a well priced and well marketed home will sell, but there is an unevenness to this years market. Recovery definitely seems to be underway in many areas with strong price increases and short DOM times, other areas not so much. 

        In some places we can see almost everything selling, even those that are priced on the high end and with pictures that seem like they were drawn by an abstract artist. Other areas have homes priced at what would seem fair prices and with outstanding marketing, yet they attract barely a nibble. What gives?

        Pricing dynamics have changed and the market has been slow in adapting. The bursting of the housing bubble compressed many areas which formerly had divergent pricing into seemingly equivalent base prices. As the market picks up steam those areas that were compressed the most may be the ones that zoom higher and faster than neighboring communities that didn't fall as hard or as far. It may be that some areas won't see sales improvement until the gap widens even further and the base prices of communities once again become starkly different rather than roughly similar. Just my opinion.


    Tom Brady SFR, e-PRO, SRES, GREEN, BPOR
    Lic. R. E. Salesperson
    Notary Public, Retired N.Y.P.D. Lt.
    631-682-8660
    Tom@BradyFamilyRealty.com
    www.BradyFamilyRealty.com
    www.SuffolkFreeCMA.com
    www.NassauFreeCMA.com
    www.QueensFreeCMA.com
    #1 Listing & Selling Office on Long Island
    Charles Rutenberg Realty, Inc.
    255 Executive Drive - Suite 104
    Plainview, New York 11803
  • You Need A Good Agent

    Posted Under: Market Conditions in Suffolk County, Home Buying in Suffolk County, Home Selling in Suffolk County  |  March 28, 2013 1:26 PM  |  425 views  |  2 comments
    Many homeowners and home buyers think about real estate companies rather than real estate agents. The agent is going to make or break your real estate experience, not the company. Go with an agent that's too busy and you'll be speaking with their assistants, an agent that doesn't do enough business and you may miss the latest trends.

    For what may be the largest financial transaction of your life, why not take a little time and do some research. Personally I think the most important traits in an agent are honesty, communication and knowledge. An agent lacking in any of those areas may leave you tearing your hair out in frustration.

    I recently was asked by a family member to get an agent to list their home for sale in Pennsylvania. I e-mailed ten agents in the area, the companies they worked at ranged from large to small and known to unknown. My first criterion was that the agent had to be a full time agent. All ten were full time agents. I conducted some basic research and in my introductory e-mail I  posed a question to all ten that I knew the answer to. Why? Honesty check. I could weed out the bs'ers right away. 

    Of the ten e-mails I sent, I got 7 replies, 3 were too busy to answer apparently. If they are too busy to answer you before you sign, you'll never hear from them again after you sign (my opinion); I'm at 7 agents to consider. Of the seven only 4 acknowledged and answered my question. Of the 4 that answered, 3 were honest and 1 was wrong for whatever reason. Now I had the three agents prepare free CMA's. Only one took the time to do it right. After checking on some other things, I had my agent. Total time expended about an hour researching and 30 minutes e-mailing. I'm now confident that I got the best agent available, and it wasn't hard to do. 

    Tom Brady SFR, e-PRO, SRES, GREEN, BPOR
    Licensed Real Estate Salesperson
    Notary Public, Retired N.Y.P.D. Lt.
    631-682-8660
    Tom@BradyFamilyRealty.com
    www.BradyFamilyRealty.com
    #1 Listing & Selling Brokerage Office on Long Island
    Charles Rutenberg Realty, Inc.
    255 Executive Drive - Suite 104
    Plainview, New York 11803
  • Strong Market So Far In 2013

    Posted Under: Market Conditions in Suffolk County, Home Buying in Suffolk County, Home Selling in Suffolk County  |  March 11, 2013 2:16 PM  |  391 views  |  No comments
    We are seeing multiple offers on homes and just as importantaly, higher offers. In many areas of Long Island the inventory is low forcing higher prices and competition on buyers not used to seeing either. Is it a lasting trend? We will see, but now is the time to list. 

    Going forward, if prices continue to increase less homeowners will be under water causing a potential increase in re-sale listings, which could put downward pressure on prices bringing on a sort of catch 22 situation. But with banks' lending again the market may be able to absorb any increases in inventory. This isn't to imply that every area of Long Island has rebounded, or will in the near term, but anecdotal evidence points to a strong 2013.

    Tom Brady SFR, e-PRO, SRES, GREEN, BPOR
    Licensed Real Estate Salesperson
    Notary Public, Retired N.Y.P.D. Lt.
    631-682-8660
    Tom@BradyFamilyRealty.com
    www.BradyFamilyRealty.com
    #1 Listing & Selling Office on Long Island
    Charles Rutenberg Realty, Inc.
    255 Executive Drive - Suite 104
    Plainview, New York 11803
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