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by Highline Residential
Now that your home is listed for sale, it seems as though you have a to-do list a mile long, and preparing for an open house is one of them. An open house gives buyers a glimpse into what their life would look like should they decide to purchase your home. This will be their first impression, and there won't be a do-over. Real estate agent Jeff Fisher, with Arizona's Realty RE/MAX Fine Properties, definitely recommends at least one open house, and he believes their biggest benefit is the instant visibility and exposure. As Fisher explains, the agents responsibility is to "be there, showcase the home, market it, prepare the homeowner for the traffic and feedback, and give the homeowner realistic outcomes." However, homeowners have a job as well. It is up to you to make sure the home is ready to welcome the first buyer through the front door, and these four prep tips will help. Paint the Front Door As a homeowner, DIY projects will be your best friend, and painting your front door is certainly an easy one. However, it requires a little bit of thought, as opposed to going with the first color that pops into your head. It is best to stick with classic colors such as black, gray, tan, or a subtle pop of color such as light blue, dark green, or red. However, if you have shutters, you'll need to paint them to match as well. If you aren't sure about your color choice, run it by your realtor first. Have a Yard Day You don't have to have elaborate landscaping to ca...
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by Highline Residential
Buying a home is one of the most important and expensive purchases you will ever make, but that doesn't mean you can't save some money during the process. Smart house hunters can consider these tips to help pay for a home and still be prudent with their pocket book. Read on to find out how. Put Twenty Percent Down When you borrow in excess of 80 percent for a home mortgage, you're automatically required to pay for private mortgage insurance, also known as PMI. This adds to your monthly payment. Homes in New York, NY, have an average down payment of 8.8 percent, but suggests you work toward saving 20 percent for your down payment. Your wallet will eventually thank you. Multiple Lenders and Multiple Quotes You won't know if you're getting the best mortgage deal if you don't compare the terms with other lenders. According to Investopedia, "Looking at multiple good faith estimates (GFEs) side by side lets you compare rate and closing cost scenarios" to select the ideal mortgage package for your particular set of circumstances. At times, you can negotiate amongst several lenders in hopes that they will compete for your business by offering better terms than their competitors. Find a Fixer Upper or Less Expensive Home Choosing a home that requires a bit of loving care in order to return it to its former glory is another way to save money when buying a house. Fixer uppers boast lower sales prices because they're not move-in ready. There's less ...
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by Highline Residential
Some people from out of state may imagine New York City real estate only thriving in the heart of the city, however, in 2016, the market heated up considerably in the suburbs. New buyers are making their way to the more spacious commuter neighborhoods as the sudden surge of activity is having a significant impact on available home inventory. Busy Housing Market Winter Normally, the housing market can slow down when the winter weather hits the New York area. This year, buyers have hit the streets in force searching for homes during the mild winter days. The housing inventory has decreased substantially as homes are spending less time as listings – numerous bids are being made by buyers and accepted by sellers. Places such as Pleasantville has homes sitting on the MLS real estate listings for 83 days before going to contract, and the Westminster suburb has an average of 3.7 months for its absorption rate. Inventory has dipped so low that there were only 34 homes on the listings in the Pleasantville area. Long Island has recorded its lowest inventory levels in 13 years. On average for most suburb areas, there is only three months’ worth of home inventory available. Home Prices Steady at Beginning of Year but Expected to Rise Steady prices have brought buyers out in droves to find the best deals for homes. However, with lowering home inventory, these prices have risen in certain desirable neighborhoods as bidding wars are taking p...
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by Highline Residential
New York City faces a mixed bag of current markers in the world of residential and commercial construction activity. In some ways, it's good news that the rate of cost increases is slowing. But costs are up once again throughout the city's five boroughs. If that's no surprise to you, the good news may be that the 2016 rate of increase was approximately 4 percent, pretty much in line with the average 3-4 percent increase in 2016 in major markets across the nation. Now that the preliminary figures are in, what does it all mean? New York building executives -- interviewed for the Construction Update prepared by the New York Building Congress -- foresee about the same rate of increase, about 1 percent per quarter, for the balance of 2017. That offers some relief from the 5 per cent annual cost hikes experienced in 2013, 2014 and 2015. During those years, the nationwide averages were between 2.5 and 3 percent. A decade ago, during the height of the U.S. building boom, cost increases climbed to about 6 percent nationally. At the same time, New York City was experiencing double-digit increases -- 12 percent in 2006 and 11 percent in 2007. The aftermath of the Great Recession slowed the climb, but costs began to rise again in 2010. High Demand = High Costs The market is "robust" across all types of construction, according to Carlo Scissura, New York Building Congress President and CEO. He notes that the high level of activity across the board tends to stretch the ...