Learning from the past and not dwelling on it. ..........May 29, 2014
Educated buyers are the ones who make the right decisions.
Short Lesson: More buyers than homes available for sale right now!
Fact: a recent sale on 79 street, off Eliot Avenue, a 1 Family Townhouse, with 3 bedrooms, sold and just entered contract. But before that, this buyer viewed 24 homes since last September 2013.
This buyer lost out on a house for $5,000 dollars, because the buyer wouldn't go up. Now let me break it down in simple terms.
That $5,000 dollars more in a mortgage payment, @ 4.5%= $5.21 more per month.
IMAGINE LOOSING OUT ON A HOUSE FOR $5.21 MORE IN A MORTGAGE PAYMENT.
Wait to you hear this, there is more. The same buyer 4 months latter had to pay
$20,000 dollars more for the same home, same style, 1 family townhouse, 3 bedrooms. Thats right.
The market has been going up since last September 2013.
What you have seen since January 2014 for whatever asking prices are now going higher. If you see a Detached 1 Family today asking $650k and maybe selling for $625k, it will be higher come in the fall, September, do to supply & demand.
Location is key, Improvements to the home can save you unexpected big repair jobs in the future to. Examples, New Roof, New Hot water tank, New Chimney, New water main, New half bath on the 1st. floor,etc..
Okay you may have lost out on 1 or 2 homes to date.
And maybe the next one maybe a little higher in asking price, but step back for a moment. If the home has over $40k -$50k in improvements,
do not loose out on that home for $15K, $18k, or $20k that you would have to pay more in your offer. In a mortgage payment for the average of lets say $18k, that breaks down to $91.00 dollars more per month in a mortgage payment, but the major repairs have already been completed.
Attached homes are coming onto the market place right now, May 28, 29th, at $625k, $650k, $675k, and $700k in asking price.
Go to an Open House and you will see buyers viewing the Homes like a colony of ants. Realize the demand. Think about this. And whatever you do, do not be stubborn on your price, and see what the bottom line is on your mortgage payment.
HELPFUL HINTS THAT MAY HELP AND REACH SOME BUYERS!*Watch for Open Houses this coming Weekend by Diverse Real Estate. on 'TRULIA'
No signs and No MLS. And still we get 14 -25 buyers attending.
******** ********
So your chances on buying a home that is on MLS, goes down to less than 10% do to the fact all Real Estates and their customers will be attending and bidding on the House.
1979 1 family attached were selling at $65,000 dollars
2014 1 family attached homes selling at an average of $590k.
Less Land available, Less housing, and many buyers flocking here in Middle Village from Greenpoint & Williamsburg areas.
Short Lesson: More buyers than homes available for sale right now!
Fact: a recent sale on 79 street, off Eliot Avenue, a 1 Family Townhouse, with 3 bedrooms, sold and just entered contract. But before that, this buyer viewed 24 homes since last September 2013.
This buyer lost out on a house for $5,000 dollars, because the buyer wouldn't go up. Now let me break it down in simple terms.
That $5,000 dollars more in a mortgage payment, @ 4.5%= $5.21 more per month.
IMAGINE LOOSING OUT ON A HOUSE FOR $5.21 MORE IN A MORTGAGE PAYMENT.
Wait to you hear this, there is more. The same buyer 4 months latter had to pay
$20,000 dollars more for the same home, same style, 1 family townhouse, 3 bedrooms. Thats right.
The market has been going up since last September 2013.
What you have seen since January 2014 for whatever asking prices are now going higher. If you see a Detached 1 Family today asking $650k and maybe selling for $625k, it will be higher come in the fall, September, do to supply & demand.
Location is key, Improvements to the home can save you unexpected big repair jobs in the future to. Examples, New Roof, New Hot water tank, New Chimney, New water main, New half bath on the 1st. floor,etc..
Okay you may have lost out on 1 or 2 homes to date.
And maybe the next one maybe a little higher in asking price, but step back for a moment. If the home has over $40k -$50k in improvements,
do not loose out on that home for $15K, $18k, or $20k that you would have to pay more in your offer. In a mortgage payment for the average of lets say $18k, that breaks down to $91.00 dollars more per month in a mortgage payment, but the major repairs have already been completed.
Attached homes are coming onto the market place right now, May 28, 29th, at $625k, $650k, $675k, and $700k in asking price.
Go to an Open House and you will see buyers viewing the Homes like a colony of ants. Realize the demand. Think about this. And whatever you do, do not be stubborn on your price, and see what the bottom line is on your mortgage payment.
HELPFUL HINTS THAT MAY HELP AND REACH SOME BUYERS!*Watch for Open Houses this coming Weekend by Diverse Real Estate. on 'TRULIA'
No signs and No MLS. And still we get 14 -25 buyers attending.
******** ********
So your chances on buying a home that is on MLS, goes down to less than 10% do to the fact all Real Estates and their customers will be attending and bidding on the House.
1979 1 family attached were selling at $65,000 dollars
2014 1 family attached homes selling at an average of $590k.
Less Land available, Less housing, and many buyers flocking here in Middle Village from Greenpoint & Williamsburg areas.
