Ben Oliva

The District presented its first draft of next years budget on February 17th.  The new budget represents a 2.6% increase compared to the old budget and a 3.6% tax levy increase….That’s not good folks.  Is there any way to sharpen the pencil?  Just a suggestion but have you thought of saving some money on the phone bill?  Its not really the phone bill but the number of minutes or hours of productivity that organizations loose when their employees abuse the phone or their computer .  I am not saying that its happening in Mineola…but if it is; try this calculation.  Lets say that at Company A, each employee spends 25 minutes each day on personal calls, personal emails…or on Facebook.  That represents just over two hours of wasted time per week.  Now lets multiply the average salary of Company A employees which could be $15 per hour; times two hours.  That’s $30 per employee, per week.   Wow..Company A has 100 employees that are helping it go out of business….That’s not good folks:(

As reported in Newsday, Saturday, February 26, 2011.
“U.S. CONSUMER CONFIDENCE HIGHEST IN 3 YEARS” Are we back? You betcha! And that includes Alaska. It’s all about jobs and the Middle Class…even in Wisconsin.

I am sure you’ve heard the term “leading indicator.”  The term is often used to describe an event or series of events that can predict the future outcome of an economic milestone; such as the number of homes that have gone into Contract or the number of homes that have Closed at a given point in time.  For anyone who writes about the housing market, I have a simple suggestion.  Just call me….or any real estate professional you know and he or she can tell you with uncanny certainty what the housing market statistics will look like in two or three months from now.  It generally takes two to three months from the time a buyer’s offer is accepted by a seller for the actual Closing to take place…..and it’s actually quite simple.  Whether you want to know about the market in Mineola,  Carle Place, New Hyde Park…or in Oshkosh for that matter.; the barometer for those statistics….”The Leading Indicator” if you will; is my telephone.  When my telephone is ringing off the hook; I can assure you that sixty to ninety days from then; when all the statistics have been gathered and counted, the housing market is going to show positive results.  Since late spring, leading into early summer, my phone has not been ringing off the hook.  Consequently,  we had lousy statistics throughout the entire summer, fall and in every month since then.  When is it going to get better you ask?  It will get better when my phone starts ringing again.  The next questions is, what will make my phone start ringing…off the hook again?  The anwser is quite simple….in my humble opinion;  as soon as the politicians start serving our best interests instead of theirs and stop bickering and sniping and stalling and lying and pretending that they are speaking for us; the American people; then my telephone will start ringing again…I guarantee it:)

Homeowner’s Insurance For Your New Hyde Park Real Estate.

While it is necessary to have Homeowner’s Insurance, there are ways to reduce your premium costs.

One: Raise your deductible. Deductibles are the amount you must pay towards a loss before your insurance company starts to pay. You can save costs on your overall policy by increasing the amount of your deductible. For example, according to a Federal Government paper on lowering New Hyde Park insurance costs, you can save up to 12% on your rate if you go with a $500.00 deductible rather than a $250.00 deductible.

New Hyde Park Home Improvement

Don’t change the general architecture of the home, and make sure that renovations match. For example, a modern steel door doesn’t belong on a ranch house built in the 1970s. Be aware of the features in New Hyde Park.

Do it Yourself?
Be extremely confident you’re capable of taking on a project before trying to do it yourself. When it comes time to sell your New Hyde Park home, believe me buyers can and do spot all the signs of amateur work and they discount their offer accordingly.

Bitten by the New Hyde Park Home Improvement Bug?

Before you finalize your decision regarding remodeling versus moving, it is wise to get a professional estimate of your New Hyde Park home’s current value, the actual costs of moving to a different home and the estimated return on investment of the most common types of home improvement. I’ll be happy to provide you with a complimentary analysis of your home’s current value. Simply call or E-mail me whenever you are ready. As for improvements that traditionally bring the highest rate of return on investment, here are some statistics. Kitchen remodeling and adding a bath tends to bring rates of return with averaging anywhere from 85% to 95% return on your dollars spent. Compare that with the 64% return on investment for adding a home office.

Buying New Hyde Park Below Market

While the perfect New Hyde Park home at the right price might come on the market within weeks, don’t expect that kind of time frame. You must be prepared to wait months for right property, and the dream home in New Hyde Park is no exception. Remember, most sellers tend to ask MORE than their property is worth, not less…so bargains don’t pop up every day. Often times, homes that are on the market for too long a period of time will come down in price as the homeowners get tired of having their house up for sale.  However, unless the seller is really motivated, home prices tend to come down in small increments unless there is an unfortunate circumstance that might cause the homeowner to price his New Hyde Park property under market for the specific purpose of getting a fast sale.

Does Your New Hyde Park Home Have Curb Appeal?

Good curb appeal is definitely an advantage to home sellers when prospective buyers visit your home in New Hyde Park and can be an advantage in advertising in the newspaper and on the Internet. However, it is important to note that even a home with great curb appeal can look bad in an advertisement if the photographer did a bad job with the camera. A photograph of a New Hyde Park home on a dreary day will look quite different from a photo of the same home when the sun is shining. Sometimes it is better to take a picture of a home from an angle rather than a straight on shot that may turn out to be more about the garage door than about the house itself.

The Benefits of Selling Your New Hyde Park Property

In order to sell your personal residence in New Hyde Park with tax benefits, you must have lived in it for two out of the five-year period ending on the date of the sale of the property. This means that you can buy a second home and live in it as your personal residence while renting out your first home. If, in a couple years you decide to sell your first New Hyde Park personal residence you can sell it and still benefit from the $250,000 to $500,000 Capital Gain tax exclusion. The law says that the home must be your personal residence for at least two out of the past five years….but remember, your accountant can give you the best tax advice.

FAIR MARKET VALUE in Carle Place

Setting the right price is an important first step in getting a home sold. Sellers often wonder if they should spend $200 to $400 for a professional appraisal of their Carle Place real estate before placing it on the market.

WAYS TO DETERMINE VALUE IN Carle Place Real Estate

A professional appraiser’s opinion of a property’s market value is based on the recent sales of similar Carle Place homes. Different appraisers may come up with different numbers, but the differences would be small. Even if all of them agreed on a value, there is no guarantee that you would receive that amount for your property. An alternative to a professional appraisal is to ask a professional Realtor for a written market analysis of your property. This analysis will include information about recent home sales in your neighborhood, as well as how those homes compare to yours.

Bitten by the Carle Place Home Improvement Bug?

Maybe, like millions of Americans, you can’t help it! You have lived in your Carle Place home for several years and before you know it, you find yourself thinking about how the kitchen would look with new cabinets and a granite countertop. Should you start with the kitchen or would it be better to add a home office to give the family a little more room? There seems to be endless options for the creative Carle Place homeowner bitten by the Home Improvement Bug. Once you get started thinking along these lines, it usually doesn’t take long before the ultimate question pops up. Is it better to improve your current home or simply sell and buy a bigger, newer or more desirable Area home? Here are some issues to help you make that all-important decision.

Buying Carle Place Real Estate…Will it Pay?

The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your Carle Place loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your home equity building options. Your financial advisor is the one to consult for these matters. If you would like up-to-the-minute information about home appreciation values in your area, please call or E-mail me today.

The Benefits of Selling in Carle Place

If your Carle Place holdings consist of both a personal residence and a rental, you can sell your personal residence and exclude up to $250,000 ($500,000 for a married couple) on the gain. Then you move into your rental, live in it as your personal residence for two years and then sell it, again benefiting from the $250,000 or $500,000 exclusion. This is true even though most or all of the increase in value occurred before you converted the property to your personal residence.  But don’t forget to consult your financial advisor. 

What Makes Carle Place Sell?

If your only reason for selling your Carle Place is for the purpose of taking your profits there are a couple ways to approach this. Assuming you have lived in Carle Place for two years so you can avoid federal tax consequences, if you sell when prices are high and rent until prices come down before buying a replacement home, you will have maximized your profit. Remember, if you sell when prices are low, you will still make a profit and be able to buy a replacement home while prices are still low.

Carle Place SEARCH

The easiest way to start your Carle Place search is to use the online search capabilities on this Website. This will give you a snapshot of all the homes that are available in your price range, with the amenities you require and the locations you might consider. Next, make contact with a knowledgeable agent who can help you narrow your choices and take you on a personal tour of your best options.

Fixed Rate Loans.  Speak to a Mortgage Professional in Carle Place

Advantages: As indicated earlier, predictability is the biggest incentive for choosing a fixed-rate loan for your Carle Place real estate mortgage.

Disadvantages: Fixed rate loans usually come with higher interest than the start up interest rate on a fixed loan. Down payments for your Carle Place on conventional, fixed-rate loans are usually higher than the down payment required for an ARM.

Carle Place Real Estate Cycles

What makes most sense is the “buy and hold” strategy. Buy a home you expect to remain in for at least seven years or more. Carle Place is no different than most, although the Carle Place market does have it’s own special circumstances.

Want to get a clear and up-to-date picture of the Carle Place real estate market? Call me at any time. I am happy to share my knowledge of the real estate market with homeowners and prospective homeowners who want to take advantage of market trends to buy and/or sell wisely.

You’re thinking of buying in Carle Place… How Much Should You Offer?

Or more precisely, what does the seller owe on the property. If a seller owes $400,000 on their Carle Place real estate he or she is not likely to welcome an offer for $350,000. If you want to negotiate price, make sure you don’t waste your time negotiating where there is no room to budge.

Even if the loan is high, if the seller is in default there is a possibility of a short sale as many lenders will reduce the loan balance in order to move the property. Most lenders do not want to foreclose and manage homes and the Carle Place market is no exception.

Carle Place. How Much Should You Offer?

Comparable sales figures is a good guide for homeowners who are pricing their Carle Place homes and a good guide for prospective buyers. Keep in mind that you will not get “comparables” unless you have an  agreement with your broker to be represented through exclusive representation…It’s the Law.  Call or email me and I will explain.  Make sure you compare homes that are similar to the one you are considering…the same neighborhood, the same size, the same condition. Also, make sure you compare sales within the past six months.

Ask your REALTOR to represent your interests and ask for a comparison of the list price and sales price of recent comparable sales in Carle Place. This information may give you a trend and a guideline for your offer. For example, maybe homes in the area have consistently listed for more than they actually sold for. If that is the case, find out what percentage of reduction occurred. Use this information as a basis for your offer.

Choosing Your Carle Place Neighborhood

The fact is that much of the value of Carle Place and real estate in general rests in its surrounding economic and social environment, which means it’s neighborhood. In addition to being located in the right neighborhood, the Carle Place home that you buy must not clash with its surroundings. To picture what we mean here, visualize the most expensive home you can imagine and then place it in the middle of a run down neighborhood. Not so desirable is it?

To sum up, the Carle Place home that you buy gets its value from a combination of the home’s location and its size, style, age and amenities. You can change the home’s size, style and amenities but you cannot change the location.

Carle Place ADVANTAGE

The advantages of buying in any particular city or area depend on the buyer’s individual needs. Factors include proximity to schools, work, shopping, recreation, cultural opportunities and health care. Affordability is another important factor. So your first step in considering Carle Place or any other city is to determine which of your needs are met and which are not met.

Carle Place Home Buying Pitfalls

Buying your Carle Place home whether you are a first time buyer or an ‘Old Pro’ involves legal, financial and emotional considerations. The more you know about the most common buyer mistakes in Carle Place, the more likely you are to avoid them.

Make sure that when you put in an offer on any Carle Place home that you have spent time narrowing down just what you are looking for. When the sellers accept your offer, you are involved in a binding contract that could cost you your deposit and other damages should you decide to back out. The opposite scenario, waiting for the 100 % perfect home can be an exercise in futility. With the thousands of variables available in housing, including location, style, size, amenities and condition, perfection is almost always an unreasonable goal.

Buying a Carle Place Fixer-Upper

Some Carle Place investors concentrate on buying fixer-uppers, making repairs and upgrades then selling for a profit. Going with a Carle Place fixer-upper can also be a smart way for those who are handy to buy a home in a neighborhood that they might otherwise be unaffordable. Fixer-uppers are a wonderful opportunity for those who simply love to create their space to their own specifications but for whatever reason do not want to start with a vacant lot.

Best to know the extent of the job and whether or not you are up to it before you buy. Some Carle Place fixer-uppers simply need cosmetic work such as paint, wallpaper, carpeting and maybe kitchen appliances are fairly easy to estimate the costs for fixing. Carle Place homes that need minor structural repairs such as roofing are also fairly easy to cost estimate.

Buying Carle Place Real Estate…Will it Pay?

The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your Carle Place loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your home equity building options. Your financial advisor is the one to consult for these matters. If you would like up-to-the-minute information about home appreciation values in your area, please call or E-mail me today.

Rent or Buy Carle Place

In the early years of your Carle Place mortgage, nearly all of every monthly payment is interest. This means you are only paying off a tiny bit of the loan principal, but it is good news in terms of tax savings.

The monthly payment for a $100,000, 30-year, 8% mortgage on your Carle Place would be about $734. In the first year of your mortgage, $7,970 of your $8,805 payment or 91% would be deductible as mortgage interest. Even in the tenth year, almost 81% of your payments would be deductible. What this is worth to you depends on your tax bracket but this tax savings built into the home-buying equation is why you can afford to make higher mortgage payments than your current rent payments without squeezing your budget. There is no similar tax subsidy for renters.

When Carle Place Does Not Sell

Let’s say a home is in excellent condition but simply messy. The cat box needs changing, the dog dish is a mess, the dishes haven’t been put into the dishwasher and the beds are not made. Should these conditions affect the price of the Carle Place? No, but they do. Take two identical houses next door to each other and priced the same. The sparkling clean house will sell much faster than the messy house and the messy house will more than likely sell for a lower figure. This is true of Carle Place as well as real estate nationwide.

When a home does not sell, the owners tend to think that the REALTOR didn’t do a good enough job of promoting the property. There is a difference among agents and brokers and some will promote a property more than others. However, the main and most important method of promoting Carle Place for sale is listing it in the local MLS.

Carle Place SEARCH

The easiest way to start your Carle Place search is to use the online search capabilities on this Website. This will give you a snapshot of all the homes that are available in your price range, with the amenities you require and the locations you might consider. Next, make contact so that a knowledgeable agent can help you narrow your choices and take you on a personal tour of your best options.

Carle Place Lot

Financially that may be a good strategy but take heed and purchase your Carle Place lot with care. Why? Because it can happen that the lot you buy today is not suited at all for the Carle Place home you want to build in the future. Here are some things to watch out for.

Carle Place HOME BUYING MORTGAGE PITFALLS TO AVOID

ALL MORTGAGES ARE NOT ALIKE. There are far too many variables—type of mortgage, term, lender and amount of points to mention a few—not to investigate all of your options in Carle Place. Don’t simply accept the first plan presented to you, whether it is from a mortgage broker, an agent or on the recommendation of a friend. Spend time comparing to get the best plan for you.

HOME INSPECTION – A MUST. If you should ever think about skipping the Carle Place home inspection in order to save money, stop and give yourself a good shaking. In the scheme of things, the Home Inspection fee is small potatoes but it is a very important step for any buyer to take. Going without a Home Inspection or choosing an unqualified inspector puts you at risk for not knowing about potentially expensive or even hazardous defects in the property.

Carle Place Homebuyers Quandry

First time Carle Place homebuyers have their issues to deal with and homeowners who want to move up, down or sideways have an entirely different set of problems. A homeowner’s first task is to counteract human nature. Humans must be genetically programmed to find their next home and then scramble to sell the one they have so they can afford the one they want. The Carle Place market is no exception. Of course, this is contrary to good sense but since most people will go ahead with the Buy then Sell approach.

Bitten by the Carle Place Home Improvement Bug?

Money isn’t everything however so that if the most important consideration for remaining in your Carle Place home happens to be the school where your children attend or the proximity to your work or to a particularly attractive recreational opportunity then remodeling may be the best option. On the other hand, if the idea of having your Carle Place house torn up for weeks at a time makes your blood run cold, it really doesn’t matter how much money you might make turning a fixer-upper into a model home. You will be far better off selling the home you have and moving to a home that better fits your needs.

Buying Carle Place Below Market

Isn’t that everyone’s dream? I hear it from prospective buyers almost every day and many of them want to find the perfect Carle Place home priced considerably under market. Is it possible? The answer may surprise you but often it is possible. You just need a sophisticated buying strategy.

Now the idea that you can simply decide one day to go house hunting and find just the Carle Place real estate you want priced way under market is pushing your luck. But if you take advantage of some of today’s Internet technology, do your homework and bide your time, you might find just what you are looking for. First let’s look at the technology.

Carle Place SAVINGS

Everyone wants to buy the home of their dreams at the lowest possible price. Here is a tip for making the best Carle Place buying decision. Make sure you know the actual real estate values in the area or areas where you plan to buy so that when you come across a home priced below market, you will know it.

Adjustable Rate Loans for Carle Place

ARMS may be called by various names including, variable-rate loans, adjustable rate loans or adjustable mortgage loans for your Carle Place home. They all feature an interest rate that can vary over the rate of the loan.

Advantages: The monthly payment on a typical ARM is lower in the early stages than the fixed rate loan. This may make it easier for the buyer to afford the Carle Placehome.

Disadvantages: As interest rates increase, your monthly payment may increase or the amount of your payment applied to the principle may decrease which means that you must gamble on property appreciation to offset this increase in your indebtedness.

Carle Place Home Buying Pitfalls

Buying your Carle Place home whether you are a first time buyer or an ‘Old Pro’ involves legal, financial and emotional considerations. The more you know about the most common buyer mistakes in Carle Place, the more likely you are to avoid them.

Make sure that when you put in an offer on any Carle Place home that you have spent time narrowing down just what you are looking for. When the sellers accept your offer, you are involved in a binding contract that could cost you your deposit and other damages should you decide to back out. The opposite scenario, waiting for the 100 % perfect home can be an exercise in futility. With the thousands of variables available in housing, including location, style, size, amenities and condition, perfection is almost always an unreasonable goal.

Green Remodeling Your Carle Place

If you are planning to remodel your Carle Place, keep home resale in mind and consider going green. Green remodeling is becoming more popular as homeowners consider health issues, skyrocketing energy costs and Earth’s natural resources. And, when it comes time to sell your home, your energy efficient and Earth saving remodeling may help you sell your Carle Place quickly and for top dollar.

Rent or Buy Carle Place

In the early years of your Carle Place mortgage, nearly all of every monthly payment is interest. This means you are only paying off a tiny bit of the loan principal, but it is good news in terms of tax savings.

The monthly payment for a $100,000, 30-year, 8% mortgage on your Carle Place would be about $734. In the first year of your mortgage, $7,970 of your $8,805 payment or 91% would be deductible as mortgage interest. Even in the tenth year, almost 81% of your payments would be deductible. What this is worth to you depends on your tax bracket but this tax savings built into the home-buying equation is why you can afford to make higher mortgage payments than your current rent payments without squeezing your budget. There is no similar tax subsidy for renters.

Carle Place INFORMATION

The Internet makes it easy to get Carle Place information online from dozens of Websites that all have the same data. Beyond information on the Internet, experienced real estate agents and brokers who know the area well will be able to fill you in on details that usually do not show up on these online data bases.

Carle Place SAVINGS

Everyone wants to buy the home of their dreams at the lowest possible price. Here is a tip for making the best Carle Place buying decision. Make sure you know the actual real estate values in the area or areas where you plan to buy so that when you come across a home priced below market, you will know it.

Carle Place Home Improvement

Homeowners hear a lot about improvements that might add value to houses. But less attention is paid to what to avoid. Steer clear of renovations that will cost you money at resale time.

If an Carle Place home becomes conspicuously larger — and more expensive — than those around it will risk becoming hard to sell. Additions tend not to return their entire investment. The 2005 “Cost vs. Value Report” found that homeowners were able to recoup only 83% of the cost of a family-room addition and 82% of a midrange master suite.

Carle Place Real Estate Cycles

In the business cycle of real estate, there are buyers’ markets and sellers’ markets…and some markets in between. It is all based on supply and/or demand. Carle Place is no exception.

There are times when the economy is brisk and everyone feels confident about his or her prospects for the future. As a result, they spend money. People eat out more, buy new cars, and… they buy houses, namely Carle Place.

Then, for one reason or another, the economy slows down. Companies lay off employees and consumers are more careful about where they spend money, perhaps saving more than usual. As a result, the economy decelerates. When there are fewer people in the market to buy homes. This is true for the Carle Place real estate market as it is for all markets nationwide.

Carle Place. How Much Should You Offer?

Or more precisely, what does the seller owe on the property. If a seller owes $400,000 on the Carle Place real estate he or she is not likely to welcome an offer for $350,000. If you want to negotiate price, make sure you don’t waste your time negotiating where there is no room to budge.

Even if the loan is high, if the seller is in default there is a possibility of a short sale as many lenders will reduce the loan balance in order to move the property. Most lenders do not want to foreclose and manage homes and the Carle Place market is no exception.

Buying a Carle Place Fixer-Upper

Finding the right Carle Place fixer upper often involves finding a seller who is in financial difficulty and wants to sell in order to protect their credit or to avoid foreclosure. Various government agencies such as VA, HUD, IRS and others offer homes in foreclosure for sale and these homes can make excellent fixer-uppers. Bank owned properties known as REOs, real estate owned, offer good opportunities since financial institutions want to eliminate their real estate holdings by selling foreclosures quickly.

Join my network of Carle Place buyers looking for specific types of properties. Call or Email me today.

Buying Carle Place Real Estate…Will it Pay?

A frequent question from prospective homebuyers relates to building home equity. Carle Place buyers like to estimate how much a home may increase in value based upon past appreciation. One of the many advantages of home ownership is that appreciation is based on the home’s market value rather than on the actual dollar amount invested or the down payment so that a $100,000.00 home that appreciates 5% is now worth $105,000.00. This is one way of building your Carle Place home equity but there is more you can do.

Green Remodeling Your Carle Place

Energy conservation. The average Carle Place today uses systems for heating, ventilation and air conditioning, and most homes are not built as efficiently as they could be, resulting in high energy consumption. The U.S. Department of Energy believes if current buildings were green-improved, they would use $20 billion less in energy per year. Carle Place green remodeling puts a strong emphasis on making homes as efficient as possible with modifications such as energy-efficient appliances and thermostats that can be programmed at different temperatures for different times of the day.