Archive for March, 2012

Even NYT is Drinking the Kool-aid

Monday, March 26th, 2012

I'm losing faith in the media to report on the facts when it comes to the housing market. As I've written in the past, it seems drama is out selling even sex! Negative spins are spinning out of control. This past weekend the NY Times article titled "Weak Sales in Housing; Prices Rise" was yet another example of such. Even the title speaks for itself. Which does the Times put first, the over 8'/. SURGE in the Median Home Sale Price for new homes in Feb … Or the 1.6'/. Drop in the number of new home sales for that same month-Feb-  you don't need to be chief economist to figure out that builders wisely pulled back during the Great Recession on pumping new inventory on to a slow sales market… Thus the slightness in NEW home sales– remember economics 101 the price of anything is determined by the scales supply + demand– if you dig deep in the article, you seel the real news, in addition to the over 8'/. Jump in prices, sales of previously owned homes rose more than 13'/. Since July and this winter has been the best for re-sales in 5 years! Builders have applied for the most permits to build SFR + appts since Oct 2008. so when the Commerce Department + other US Depts put out reports, reporters would be doing their readers a true service by not spinning the story to sell papers. Report on the facts please, and let's all move forward economically. Thank you!

BofA Banks on Real Estate

Friday, March 23rd, 2012

 

 

Bank of America Legacy Asset Servicing Executive said, this pilot will help determine whether conversion from home ownership to rental is something our customers, the community and investors will support . Id like to take that one step further and commend BofA on ceasing the opportunity to not only allow homeowners to remain in their homes but help expedite the transfer of over leveraged properties in a civilized fashion with minimal pain & distress. Ultimately the investors who end up with this real property will realize significant gains in time.

Only 1000 homeowners will be invited by Bank of America to take advantage of this pilot program.. or foreclosure alternative. There is a specific list of criteria which includes but is not limited to the homes must be owner occupied, delinquent for a minimum of 60 days and several other qualifications. 

 

US HOME SALES HAD THE BEST WINTER IN 5 YEARS

While there are some Debbie Downers out there writing about how home sales slipped in February it was a very slight slip to a seasonally adjusted 4.59 million according to the National Association of Realtors. Some say it was the mild winter, some say the stronger job figues, some say it was the return of the stock market, some say its just time buyers are tired of waitingI say it was the perfect stormin a good wayit was all those factors and more that has lead national stats as well as local stats on real estate transactions to the best winter since before the collapse. Here at T&C its our best winter EVER!

 

 

 

Why Use A

Friday, March 23rd, 2012

 

Particularly under the current market conditions, there's nothing more important than finding the right real estate professional in your area. It has been proven that Brokers will get sellers more money than if you sell on your own. But more importantly, real estate marketing and the process and transaction is quite stressful– it is on the stress charts as one of the most stressful life events– the right professional can make the process smooth and stress free. 

When you look for the right professional, keep in mind it is not necessarily the one who gives you the highest market price– that agent may be telling you what you want to hear just to get the listing– a smart & seasoned professional will not only give you the comps– comparable properties on the market today– but they will also give you the sold comparables (within less than 12 months).

one last suggestion… when you interview these potential agents, know that you will be spending quite a bit of time with this individual– it should be someone you like and feel comfortable with. Bottom line– you want a knowledgeable, experienced, successful, smart agent who is a pleasure to work with.

then leave the rest to her/him

Montauk Lighthouse Designated National Landmark

Thursday, March 8th, 2012

After 200 years of shining  a light around the tip of Long Island, the Montauk lighthouse has finally been names a national Landmark by the US Department of the Interior. Authorized by President Washington in 1792, construction began in 1796. The lighthouse stands 110'6" high and has 137 steps to the light tower. The light flashes every 5 seconds and can been seen from 19 nautical miles away – on a clear day that is. It is the first lighthouse in NY state.

It took more than 6 years, having been rejected twice,  to receive this designation and has come about thanks to the efforts of its' supporters who had to prove the lighthouse played a role in the development and growth of the Port of New York, which turned out to be harder than anticipated. The committee located and searched through years of shipping records to show quantity of shipments made  to the area and how the lighthouse played a vital role for ships en route.