Doesn’t matter if you are in Mahopac, New York, elsewhere in Putnam or Westchester Counties or in other parts of the US, real estate buyers today are taking much longer to make up their minds regarding the purchase of a new home with each potential buyer viewing an average of 19 homes before making a purchase. Due to this, sellers are finding that not only are they required to reside within their current home for longer than intended, but they are also often left with no option but to accept an offer which is well below the asking price. In order to successfully sell your home within the Westchester County area, is it vital that you do all you can in order to make your home marketable and worthy of your asking price. Here at the 5 basic areas you need to focus on in order to sell your home-fast!
Before you place your home on the market it is vital that you check for any required maintenance, in particular your wiring and plumbing systems. The type of wiring within a home will generally be determined on the age of the property, the area in which it has been built and if it has been modified or updated in anyway. To a buyer, newer electrical panels and updated wiring will be a good indication that your home has been well maintained and any future repairs may be minute. When checking over your wiring, always employ the service of a qualified electrician within Westchester which will not only ensure the job is done safely and thoroughly, but will also pay dividends for you when you finally sell your home. Plumbing repairs no matter how minute can save you time and money when you are ready to sell. A buyer will be expecting to see your home in top condition so a leaky pipe or dripping ceiling will do nothing to help your chances of a quick sale.
2) Garden Fever
Next, you need to inspect the exterior of your home, in particular your garden/s. In the event that the outside of your home looks unattractive, a potential buyer may simply opt to not even look inside your home, as they will come to the conclusion that your lack of maintenance will follow through to the inside of your home. Ensure that your yard is free of debris, your trees are neatly trimmed and your grass is mowed and edged. Sweep your walkways and rid your garden of any dead flowers, planting new ones where possible. Although we are all guilty of doing it for ease, remove any cars that are parked outside the front and park these in your garage so that viewers are not distracted by your vehicles when viewing the exterior of the property.
3) Beautiful Inside and Out
After taking care of the outside of your home, next its time to work on the inside! It is common sense that a clean home will be more inviting to a potential buyer, thus will make them more attracted to your home in general. Buyers can be turned off by the even the smallest amount of mess or bad odor, so ensure each room is dusted, vacuumed, cleaned with products in terms of your kitchen and bathrooms; and add air fresheners in each room so they smell pleasant when entered. A thorough clean is also a good chance to rid your home of any unwanted junk which will make packing your boxes for moving all the easier. Where necessary, consider adding a splash of paint to some rooms in order to brighten them up and help give them a clean and neat appearance. If any rooms have chipped or peeling paint, repainting them is extremely important as rooms will look dull and will give the impression that they buyer will need to do extensive work on the house after moving in.
4) The Right Representation
In today’s market is it extremely important to have a professional realtor who will represent your best interests. When hiring an agent within Westchester County, you should ensure that you are provided with and exclusive agent, that he/she provides you with advice and guidance throughout the whole process and that they will push for the highest price possible for you. Your ideal agent will also be a strong negotiator with your interests in mind and will do everything they can to protect you from liability. A reputable Westchester County agent will also be able to provide guidance on the ideal selling price for your home. Often, a seller will be too adventurous in their price which results in their house being on the market for a long period of time. Work with your agent to produce a worthy price which will not only provide you with profit, but will help induce a quick sale for your home.
5) Enhancing the Beauty
Once you have received viewing appointments, it is important that you stage your home in order to show it off to its full potential. Add little touches such as scented candles which not only smell nice, but add simple decoration but do not over clutter your rooms with items. Keep all drapes and curtains open so prospective buyers can easily look out of the windows to view the surrounding environment and if it’s a little dark outside, turn on a few lamps so that the rooms are well lit. Above all, never intervene during a viewing. Let the agent do their job and allow each viewer to ask their own questions so they feel at ease. No buyer wants to feel pressured into buying a property!
Whether you are in Mahopac, Carmel, or anywhere else in Westchester or Putnam County, by simply taking these points into consideration, you will have a greater chance of selling your home fast. Before placing your home on the market it is always beneficial to ask the advice of an agent on how to effectively display your home to a buyer but with these simple tips you simply need to sit back and wait for your ideal seller to realize the potential of your home. It also doesn’t hurt if the agent offers a great no-risk guarantee like this Mahopac Real Estate Agent.
This is a home in Mahopac that just sold on October 14, 2010.
How does your home compare to this one?
That question is probably the most important when figuring out what a buyer might pay for your home when it comes time for you to sell.
Yes, you will need more information to make an accurate valuation but this is a good start.
This home sold in 167 days which is longer than average but not terribly slow, for $19,000 under the asking price.
Details of this sold home:
Asking Price: $429,000
Selling Price: $410,000
Days on the Market: 167
Lakeview Elementary School
3 Bedrooms, 2 Bathrooms
Situated on 1.220 Acres
2 Car Garage
2100 Square Feet, includes finished basement
Built in 1959
Estimated Taxes: $10,803
Special Features to Compare: Privacy, large deck overlooks patio with build in fireplace, new windows, hardwood floors and doors, fireplace, granite counters, new appliances, central air, custom window treatments.
Westchester, Ulster, Orange, Queens, Nassau, or Brooklyn.
More good news is that the number of foreclosures in New York State is relatively small compared to the problem in the rest of the country.
This data is being collected in accordance with the December 2009 state Mortgage Foreclosure Law which attempted to enhance the scope, accuracy, and organization of this information (people who are 90 days or more behind on their mortgages) allowing for early intervention that might keep more people in their homes and less foreclosures.
In all of New York State, 5.2 percent of all mortgages have received 90-day foreclosure notices. Ulster County coming in at the highest percentage of total mortgages facing foreclosure at 8.1 percent, then the Bronx in 2nd place at 7.5 percent.
Rockland had 5.6 percent of it’s mortgages in trouble, Dutchess at 5.5 percent and Putnam County came in at number 18 in the state with 5 percent of it’s 22,000 total mortgages receiving notices. That is right at the state average.
Although Westchester was ranked fifth in total number of mortgages having received 90-day foreclosure notices, their percentage of all their mortgages in trouble was 4.3 percent which ranks them 30th in the state in that category. This just means that Westchester County has a high number of mortgages, hence a high number of foreclosures even though the percentage was relatively low….well, at least, below state average.
What do you think? Are we headed in the right direction? What do you make of these numbers? Leave a comment.
If you would like to read about Lis Pendens (notices filed against homeowners) right in Mahopac, visit the post Mahopac Real Estate Lis Pendens.
What many real estate investors do when they are looking to help someone that is having trouble paying their mortgage, and find a real estate deal of course, is look through the list of Lis Pendens and attempt to contact the people to see if they are looking to get out of their situation.
These listings indicate that a legal action has been initiated, the outcome of which may affect the title of the property.
In Mahopac, the following properties received notice from the lender that an action was filed with the courts. This is all public information.
Filed by Household Finance Realty Corporation of NY. Amount attempting to secure: $89,246. Affecting property located at 543 Cross Hill Lane, Mahopac 10541
Filed by Wells Fargo Bank. Amount attempting to secure: $428,000. Affecting property located at 22 E. Lovell St., Mahopac 10541
For statistics on how many of our county’s mortgages are in trouble, visit this other blog post: Putnam, Mahopac Real Estate Statistics.
These listings were taken from the Westchester County Business Journal, October 25, 2010.
Like this or hate it, let me know that you are alive and leave a comment below.
has seen it’s share of foreclosures and short sales.
This is a quick overview of how we got to where we are today.
The major problem here is that the banks want to foreclose and clean up the mess in the real estate mortgage market but they often cannot prove to the courts who owns the home!
Here is a quick timeline:
In 2001, the FED lowered interest rates to stimulate a weak economy.
Lower mortgage rates encourages people to buy homes and conversely, low interest rates hurt investors who weren’t getting as high yields.
Home prices rose encouraging more lending.
Wall Street created mortgage-backed securities to meet the demands of investors.
Banks began throwing money at borrowers.
2005 to 2007 was the peak of the real estate market. This housing boom spawn people buying a home they could not afford in order to live the “American dream.”
Homeowners gave promissory notes to lenders, all is normal here.
The info is fed to MERS, a creation of the mortgage industry that overseas a database of information.
Some banks destroy or misplace notes after entering the information into the system.
Banks sell the loans to sponsor which is supposed to get note from the lender.
Sponsor creates mortgage-backed securities from the pool of loans.
Lenders aggressively look for more buyers willing to borrow. Get as much as you can while you can get it, right?
Credit standards fall as fraud rises and buyers continue to buy things they shouldn’t.
2007 – 2009 MARKET CRASHES
US and world economy collapse.
Unemployment rises, home prices fall, borrows default, value of mortgage-backed securities drop….
then MERS tries to foreclose on the homeowners on behalf of the lenders.
Judges demand to see notes to prove that the homeowners actually own the home and owe the money.
This is a problem because of shotty record and bookkeeping.
A fight breaks out over who will absorb an estimated $1 Trillion in losses.
The people in the fight: homeowners, banks, bond holders.
How will we see a true recovery in the Real Estate Market anywhere, not just Mahopac, of course, if we don’t even know who is responsible for what?
If you are interested in this subject of distressed properties, visit this related post:Putnam & Mahopac Real Estate Statistics.
What do you think? Leave a comment, let me know that you’re there.
source: Bloomberg Businessweek, October 25 – October 31, 2010, Shredding the Dream by Peter Coy, Paul M. Barrett and Chad Terhune
Lou Cardillo REDFIN Profile Page
I know this is a little small and hard to see… sorry.
If you would like to view the original reviews on an easier to read page then please click on the words “Lou Cardillo REDFIN” at the top of the page to be taken to that site.
If you would like to know more about our team approach to real estate and how we sell so many homes every year please click over here: Mahopac Real Estate Team
Mahopac Home Sold in October 2010 for Asking Price
As you may know I find it even more important to look at homes that recently sold when trying to figure out what your home is worth because people can ask whatever they want.
What determines the price of your home is the amount of money that a buyer will pay for it.
So looking at homes in your area that have recently sold, especially ones that are comparable to yours in bedrooms, bathrooms, square footage, and condition will give you a great idea as to what you can expect a buyer to pay for your home.
Also, this home sold for asking price in a reasonable amount of time which tells us that the price was just right.
Details of this sold home:
Asking Price: $449,900
Selling Price: $449,900
Days on the Market: 160
Fulmar Road Elementary School
3 Bedrooms, 2 1/2 Bathrooms
Sitting on 4.66 acres.
2 Car Garage
2302 Square Feet
Built in 2006
Estimated Taxes: $15,934
Special Features to Compare:
Granite Countertops, Stainless Appliances, Master Bedroom is 21 feet
Full unfinished walk-out basement with 12 foot high ceilings..
Well and Septic
Sold on 10/18/2010
For some quick tips on preparing your home for sale read our Featured Article.
Putnam County, Mahopac Real Estate
Home For Sale
5 Potter Rd Mahopac, NY 10541
Approximate Square Footage: 2200
Lot Size: 1.47 Acres
To Be Built…Bi-Level home featuring a great floor plan Living Room, Dining Room, Large Eat in Kitchen, Slider to patio Master Bedroom with Full Bath, 2 Large Bedrooms, Full Hall Bath, Lower Level has a walk out to a great side yard, Large Family Room/Den, Full Bath, Laundry Room, Large 2 Car Garage – GREAT PRICE FOR THIS TO BE BUILT HOME — NOTE: PICTURE IS NOT OF THE ACTUAL HOME
School District Mahopac (Elementary: Austin Road; Jr. High: Mahopac; High School: Mahopac)
Level 1 Description Entry Hall, Living Room, Dining Room, Large Eat in Kitchen, Master Bedroom with Full Bath, 2 Large Bedrooms, Full Hall Bath
Directions to Property Route 6N or Baldwin Place Road to Myrtle Avenue Turn onto Potter see Lou Cardillo Team Sign
If you are looking to buy a house in Mahopac, then I suggest looking at a brief overview of our town by visiting this page on our site: Mahopac, NY overview.
Congratulations to the Mahopac Indians who defeated Clarkstown North 6 -3 this past Friday night in the Section 1 Class AA semi-final championship game. These two teams will meet again on November 6th.
The Indians remain undefeated and improve to 8-0.
Remaining schedule and team statistics can be seen at this cbssports.com site:
They also show the complete 35 person roster.
The stand out Star this season has been TJ Foley averaging 157 total yards per game!
Good luck Mahopac Football with the rest of the season.
Why did this Lake Mahopac home sell for so much over asking? Bidding War?
Why did this Lake Mahopac home sell for so much over asking? Bidding War?
This was not my listing so I don’t know for sure. However, from the looks of this, there are certain things we have a tendency to assume.
Listing Price $299,000
Selling Price: $375,000
Days on the market: 50!
Date sold: 10/13/2010
Square footage: 3150
Estimated taxes: 7500
Year built: 1885
Lakeview Elementary School, Mahopac Middle & High School
109 Feet on Lake Mahopac
Lot size: 109 Feet from left to right and 128 feet from front to back.
This was a 4 bedroom house for sale in very poor condition, possibly a tear down. I guess the house on the lot did not matter to the buying market and the most valuable part of this deal was the land right on the lake. Look at that boat dock!