Hudson Valley Happenings Blog : February 2009

Putting in an offer on a property can be a bit overwhelming for home buyers.  Working with a Buyers Agent can give you the edge in so many ways.  A good Buyer's Agent will provide you with information to help you pick an initial offering price and help you to determine thetop amount you are willing to pay for that property.

Cabin in the Woods or Colonial with Views

Your Buyer's Agent will review recent sales in the area and compare the house you are interested in to them.  Many things affect pricing and home value.  It is not a simple as multiplying the price per square foot time the average for recent sales.  This does not take into consideration the location, condition, original construction quality, or any of the other factors that will affect value.  Your Buyer's Agent will go over all that and provide you with a range in value.

Likewise, you can not merely take the asking price and reduce it by 10% or 20% as some buyers have been told.  The original asking price may have been completely over priced and you could end up paying more that the house is worth even with such a deduction. The asking price could be right on target and by offering a standard amount below you could risk insulting the sellers and loosing your negotiating advantage (once you have pissed them off they are not so likely to bend in negotiations).

I have heard many of my fellow agents complain of late that too many buyers are not listening to their advice.  They have been working with buyers who simply will not listen to the advice of the professional they are working with.  Some agents have told me their clients seem to believe that they are trying to steer them towards a higher offer so that the agent can get a bigger commission.  Let me tell you that I don't work that way and neither do most real estate professionals.  If you are working with someone who is really out for the most they can get then you should consider changing agents.  

Your Buyer's Agent has the goal to get you the house you want.  They are giving you advice based on research and experience.  Please listen to them and trust that they know what they are doing.  I wish you all the best of luck and hope you find the home of your dreams at a great price.

One of the great opportunities for high school students in Orange County New York is the option for pursuing career specific programs through Orange-Ulster Board of Cooperative Education Services (BOCES).  Not everyone is headed for college and these programs can assist those who are planning to go on with schooling after high school but want a hands on technical education in a specific field. Orange County high school students can attend a half day program at their local high school and a half day at one of two BOCES locations for an education that will give them that head start on high school graduation day.

BOCES is hosting an open house for 10th grade students and their parents on Tuesday March 3rd from 7:00 - 8:30 PM (snow date - March 4, 2009).   What a great opportunity to explore the many programs offered.   There are so many programs offered through BOCES for 11th and 12th grade students:.  I have had the opportunity to tour the facilities on Gibson Road in Goshen and had a meal prepared and served by the 12th grade students.  It was excellent and the facility is awesome.

With the economy being what it is, I think these programs offer a student a chance to obtain top notch education at the expense of the county.  We all pay taxes anyway don't we?  Why not graduate with real career skills or a wonderful head start in your post high school education?

If you are considering a move to the Greater Hudson Valley of New York with your children the opportunities offered through BOCES make it one great place to consider. If you would like to start a search for a permanent residence or vacation home in the area I would love to help you.  Working with an experienced buyer's agent can help you to choose what is best for you.  I work in Orange, Ulster, or Sullivan County NY and I would love to be your Buyer's Agent. If you are looking elsewhere I would love to find someone in your chosen location to help you.  Give me a call or send an email today.

Today is a very special day for me.  My first post on Active Rain was exactly one year ago.  I'm Here proudly, if not quietly, put me on a journey that has brought me so much.  I was lucky enough to gain 13 comments on that first post.  It gave me encouragement to go on.  I found a renewed passion for writing and Active Rain gave me the forum to have my work read and enjoyed by others.

Oh the places I've seen through my "visits" with friends far and wide.  Localism posts are a great way to have a virtual time out from day to day scenes and tasks.  I have such great relationships with many other Active Rain members.  I feel like I have friends all over the country and beyond.

I have managed to accumulate 138,848 points as of this morning.  Points might not be my main goal but it is fun to see them add up.  This post will be my 375th entry and I have received 8 gold stars.  In my home state of New York I rank 12th in a sea of 5544 members and I am #1 in my county and local locations.  This weekend also marked the addition of my 100th subscriber.

What does all this mean to me and my business?  Plenty.... you see I have received numerous referrals and many clients directly as a result of my AR association.  One of my blog posts was recently noticed by an editor from NAR's Realtor magazine and resulted in my broker being interviewed for a future feature. I have been given opportunities to participate in some special programs and I think my business has already grown.  My confidence in myself has improved over the year and I now feel I can serve my clients more efficiently because of that confidence.

So Thank You to the Active Rain staff, to my friends who are members, and to my public followers for sticking with me so far.  It is awesome to have this opportunity to have my voice heard.

Celebrate Good Times, Come On!  Join Me In My Journey Through Year Two On Active Rain.

With the stroke of a pen President Obama has opened the door to many of you for your first home.  Yes, the American Recovery and Reinvestment Act of 2009 included an $8,000 incentive package for most first time home buyers.  

Your Bright And Shining Moment Won't Last Forever, Act Now!!!

This incentive allows for a full tax credit of up to $8000 (or 10% of the purchase price of homes with a purchase price of less than $80,000 (not a reality in most cases here in the Greater Hudson Valley) for first time home buyers (or those that have not owned a primary residence in over 3 years) who have a maximum income of $75000 for a single taxpayer or up to $150,000 for a couple.  Buyers with higher income levels may qualify for a reduced incentive with incomes up to $95,000 for individuals and $170,000 for couples.  

This is a true tax credit that will be applied after you have figured out the taxes you owe for the year.  You will calculate (or have your accountant or tax professional calculate) the taxes based on all your regular deductions and tax payments during the year and then what ever the outcome you will be able to use the $8000 to either reduce additional taxes owed or to receive as a refund.  I know that sounds really good to a lot of you who may be paying extra income taxes because you are losing out on all the great deductions that come with home ownership.  This gives you all those deductions plus $8000.  Wow!

Add this benefit to the historically low interest rates, huge inventory of available homes, and many programs geared to first time home buyers and you have the world at your doorstep but you must act quickly.  You only have until December 1, 2009 to close on the property.  With the average closing taking anywhere from 45 -75 days from accepted offer and many buyers spending several months researching and looking you need to start as soon as possible.  Don't delay call me today!
 

I admit it, I love to help people.  There are few things more satisfying to me than to help with a project, talk someone through a problem, or to work with a buyer to find and obtain the perfect property for their needs.  Because of my passion for helping I find myself in difficult spots sometimes.  

You see in becoming a real estate professional I went to classes and took tests to be licensed that I paid for.  I pay yearly licensing and Realtor fees.  I pay for my vehicle, my gas, my computer hardware and software, and many other expenses associated with being an independent contractor.  I work almost every day, at odd hours, and sometimes have to make major sacrifices to be available to serve my customers and clients at the times they are available to search for that perfect place.  I do not get a regular weekly paycheck for this.  I only get paid after my buyers or sellers close on the property.  

I will be happy to help you with a general question about real estate and love to discuss the market and my work.  If however you ask me for an in-depth analysis for property you are considering purchasing you must understand that I can not put in the amount of time it takes to provide that type of service without any hope of payment for the time.  

If you plan to buy a house from someone without the representation of a buyer's agent that is your choice.  Please don't call me up and ask me to tell you what I think that house is worth in today's market. Using on-line programs to determine value can be risky as some of them use data that is not current and do not factor in actual condition of comparables.  You can not determine value exclusively on the numbers.  Location, quality, compulsion to sell, and others things factor in to placing a value on any single property.  For sale by owner buyers, buyers who work  with the listing agent, and those who buy property from relatives may find themselves in a difficult situation when attempting to arrange financing on a property that was over priced.  Don't let yourself be caught in such a situation.   

A buyers agent is often paid as part of the real estate transaction.  Most houses listed on an MLS offer a compensation by the seller for the buyers agent.  If the compensation offered is not enough to cover the normal fee of the agent or if the agent is helping you purchase a property that is not listed on the MLS they can negotiate to have the fee included in the offer.

My advise to those of you trying to go it alone is to think about it. My advice to those of you who expect me to provide in depth analysis without compensation is to think twice about how you would feel if someone expected you to perform your normal job without pay.  My job is in providing information and support to those trying to purchase property and I will be happy to help you but I expect to be paid for those efforts.

My lovely friend who is so giving and wonderful, Susan Mangigian, posted this about Habitat For Humanities salvage and resale shops.  In this economy we can all use a break on items we need and the proceeds go to a great cause.  In my area the closest re-shop is in Sussex County NJ.

Branchville, NJ:
Sussex County Habitat ReStore
1-3 Milk St Bldg 3A
Branchville, NJ 07826 Phone: (973) 948-4850
Fax:
Web site  Complete listing for all Restore locations in NY

If you don't know Susan, please take some time to get to know her.  She is funny, loving, and all around great!  Happy Valentine's Day to you all!

Call it what you will... God's Doing, Fate, or Coincidence - Whatever causes the nudging together of events, I am constantly amazed by it.  I have recently been dabbling in Facebook, Twitter, Linkedin and other social and business connecting web based media.  I say dabbling because I really don't have time for all of it but I know it will help my business and truthfully it can be a lot of fun.  

Facebook has brought about connections with old high school classmates, long lost relatives, and others.  One of my most recent "friends" was the reconnection with Michelle.  Michelle and I have a long history together.  You see we met at the ripe old age of one month, our birthdays are 3 weeks apart and we grew up next door to each other.  Michelle moved away right after high school and we reconnected from time to time but have not remained in constant contact.  I must admit that it is mostly my fault as I often find myself with more stuff to do than there is time to do it and I push things off for later.  Well I was looking for old friends on Facebook and entered her name both maiden and formerly married name.  When she popped up I sent out the friend request and waited.  I was rewarded with a reconnection and I found out that she is getting remarried this summer.  I was very happy and now plan a trip to attend.  But that is not what makes this story so amazing.

The amazing part of this particular reconnection at this time is because I was able to be there for Michelle as she traveled back home to New Jersey this week to attend her mother's funeral. You see Michelle had only joined facebook a short while ago, had I searched when I first joined I would not have found her.  It was not even a week after our first message that she told me her mom had passed and she would be coming home.  I was able to attend the wake on Wednesday and be there for the funeral yesterday.  I was there to help her through and we got to hug, cry, and laugh together.  I met her husband to be and saw her son, now a good six feet something, who was still in grade school the last time I saw him.  

I may grumble at not having enough time for all this social and business connecting on line but when you see the stars aline in such an amazing and wonderful way you have to be thankful that we live in a time that allows us to reach out over miles and time to reconnect and be there for our friends.  Wishing you all a reconnection that will bring you as much joy as this one has brought me.

We real estate agents have an interesting life.  Most of us are independent contractors yet we are often part of a brokerage which may have many other independent contractors joined by the umbrella of a principal broker.  This can make for some interesting working environments.  An office can turn into a place of secrets and sometimes it can get down right nasty.  It doesn't have to be that way.  I chose to hang my hat at my broker for many reasons - here are my top ten.

For me, I need to feel I am surrounded by people who can laugh, be supportive, and who are not afraid to share ideas that will improve my business as well as further the reputation and financial success of the brokerage itself.  Working for a broker who is seen as successful and innovative as well as caring about the community and the agents who affiliate with them is very important. Sure commission split and compensation are important but the bottom line is working somewhere that you can feel at home and be proud to say you are a part of.

If you are not currently happy with your working environment there is only one person who can change it and that is you.  Life is too short to spend it wishing you were somewhere else and complaining that things are not the way they should be.  I hope you will all either work to change the environment at your current workplace or find the strength to change your workplace to somewhere else.