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Real Estate Market Conditions Category

Is The Housing Market Actually Recovering?

Everyone wants to know if the housing market is truly showing signs of a recovery. There are conflicting headlines every day. One day, we hear sales are up. The next day it is reported that prices are down. Is the real estate market coming back? The answer is ‘yes’ and ‘no’.   There are two aspects that must be evaluated: house sales and house prices. They will not recover at the same time. Sales are already increasing rather nicely while prices will still soften in many...Continue Reading!

LI Real Estate Market For Belle Terre/Port Jefferson School District #6 – 1Q

The housing market is about to Spring Back!  I do believe that this is the year home sales start to climb again, but I don't believe it will drive prices upward .....just yet.  In the meantime, homes are selling!  Banks are lending!  Single Family Homes / First Quarter~ As an overview, there were 9 single family homes sold in Belle Terre/Port Jefferson in the Port Jefferson School District #6 since January 2012 and the average sold price  for this time period was $568,556 The average...Continue Reading!

Home Sales On The Rise: Ready For Spring Buying Season?

Existing-home sales rose 4.3 percent in January to a seasonally adjusted annual rate of 4.57 million, marking the third gain for home sales in the last four months, the National Association of REALTORS® reports. “The uptrend in home sales is in line with all of the underlying fundamentals – pent-up household formation, record-low mortgage interest rates, bargain home prices, sustained job creation and rising rents,” NAR’s Chief Economist Lawrence Yun says. While sales ticked up, inventories of for-sale homes also continued to...Continue Reading!

Things To Consider If You Are Buying A Home

I have included this pdf for you which is very important information if you are considering purchasing a home. Topics include: THE PRICE IS THE SAME, BUT THE COST IS LESS WILL THE 30-YEAR MORTGAGE DISAPPEAR? TIPS TO PRESENT A STRONGER MORTGAGE APPLICATION REAL ESTATE:  GOLDEN OPPORTUNITY OF THIS DECADE IS IT REALLY THE TIME TO BUY A HOME? AMERICANS STILL BELIEVE IN THE VALUE OF HOMEOWNERSHIP Prices Are Low, Money Is Cheap, Rents Are Rising! Where Are You? I am available to inform you of the marketplace in Three Village,...Continue Reading!

Don’t Let the Darkness Of The Past Cover the Brightness Of The Future!

That's right, there is so much negativity regarding the real estate world, that you shouldn't let it blind you.  Remember, that in the middle of every difficulty lies opportunity.  We have been through a few tough years, but there are many opportunities within our reach.  The MLS of Long Island reported that the closed median home price on LI in 2011 was $350,000, compared to $360,000 in 2010.   Btw, we always use Median prices which represents the middle value and is considered...Continue Reading!

What Every Home Seller Should Know

Today, I would like to make you aware of the dangers of overpricing your home that you might be thinking of selling. 8 Good Reasons For You: 1.  Minimizes Offers An overpriced house discourages prospective buyers from making offers since the difference between the asking price and market price becomes substantial.  Hence, longer time on the market, until you list at a price point of an offer. 2.  Agent Enthusiasm And Response Agents lose interest in showing a property that is overpriced.  They do not spend as...Continue Reading!

Positive Outlook for Real Estate in 2012

I do believe that 2012 will be the year housing turns the corner and starts heading in a more positive direction. I want to share the beliefs of other organizations:  Washington Post: “Housing Market and Economy Showing Encouraging Signs.” The Wall Street Journal: “From Bottom Up, Signs of Housing Recovery” USA Today: “Housing Outlook is More Upbeat” CoreLogic: “CoreLogic’s chief economist Mark Fleming says housing statistics and the duration of the downturn to date indicate 2012 may be the year the housing market begins to turn the corner.” Freddie Mac: “With...Continue Reading!

Port Jefferson/Belle Terre Sales Report For 2011

It’s the time of year that we look ahead and attempt to give our best guesses about the market, the industry, and the effects they may have.  Wondering how Port Jeff and Belle Terre ended the year in Total Sales? A total of 52 homes were sold in 2011.  47 in Port Jefferson and 5 in Belle Terre. The Median Sold Price (the point at which 50% of the units are above that price and 50% below that price) in Belle Terre was $925k, the...Continue Reading!