Bidding wars occur when housing inventory is low in a popular location. It occurs when two or more buyers are interested in the property. As a buyer, it's not advisable to rely solely on the seller's agent when you find yourself in a bidding war; you should have your own home-buying pro. Our real estate agents are ready to negotiate on your behalf to help you navigate this tricky process.
In today's competitive market, houses in all locations and price ranges are receiving multiple offers, and bidding wars are becoming a lot more frequent. Sometimes, a listing can be purposely underpriced to trigger a bidding war. One of the primary reasons longtime home searchers find it difficult to close on a home is because they end up outbid repeatedly.
Pre-approval. It's the first step every homeowner should take before shopping for a new home. Our real estate agents recommend starting with this step because it helps narrow your search to homes within your price range. It also gives your offer added weight when you find the home you want to purchase. Whether you have excellent credit or a significant down-payment, getting pre-approved for a mortgage is a step you don't want to skip.
We are in a low inventory market, which means that sellers receive multiple offers for their homes. Many times the offers are above the listing price. As sellers consider their options, the knowledge you're serious about and can close the deal gives you an advantage. It also helps you know how high you can go if a bidding war erupts.
Laffey Real Estate Welcomes Gavilla to Huntington Office
Greenvale, NY – Laffey Real Estate recently announced the hiring of veteran real estate broker, Hector Gavilla to the position of Branch Manager of the Huntington Office, Laffey Real Estate's easternmost location. Gavilla is a Licensed Associate Real Estate Broker. He is responsible for the office's recruitment, productivity, and daily management of agent success and staff workload.
Gavilla comes to the firm with an extensive background in real estate. As a training instructor and realtor, Hector brings a valuable combination of mentor and agent into his management skill set. His hands-on coaching style and experience in the field has already produced results in the office he leads.
Upon introducing Gavilla to the management team, Donnamarie Chaimanis, President offered this about the appointment, "Hector is a great find and perfect fit for the team in Huntington. His almost two decades of real estate experience, local knowledge and marketing savvy is the trifecta of traits we are looking for in our branch leaders." She added, "We know Hector will be a valuable part of our team."
Gavilla owned and managed his own brokerage for nine years until selling to a competitor in 2019, where he stayed until making the leap to head up the Huntington Branch for Laffey Real Estate.
A resident of Huntington, Gavilla is active in Huntington politics. He serves on the Town of Huntington Affordable Housing Advisory Board, a committee of non-paid Huntington Residents appointed by the Huntington Town Board to make recommendations with respect to the administration of the Affordable Housing Trust and Agency Fund.
Laffey Real Estate, a leading residential real estate broker on Long Island, launched their Virtual Showing Platform in early April to much acclaim. The demand for virtual viewings is still strong. Visit Laffey.com/OpenHouse page to participate. Interested buyers can find homes to preview every Wednesday from noon to 1:00 pm via Facebook Premier and Laffey.com.
This is simple and safe home showings. Go to Laffey.com/OpenHouse page. Choose the property. Click on the Facebook Live button under the listing address. The open houses are scheduled in advance so the date and time is shown on the listing page as well. Visitors will be notified when they are registered and will receive a notification that their Virtual Open House is beginning. It is easy to explore open houses from a desktop, laptop and smart device.
The market is very robust. Nationwide, there was a 20.7 percent increase in existing-home sales — which includes single-family homes, townhomes, condominiums, and co-ops — between May and June of this year, according to the National Association of Realtors.
On Long Island, the number of pending sales spiked by 60.6% in Nassau County and by 55.6% in Suffolk last month, compared with a year earlier, OneKey MLS, the multiple listing service that includes Long Island, reported Thursday.
Prices increased in both counties. In Nassau, closed sale prices ticked up 1.1% annually, to a median $551,250, and pending sale prices rose by 6.4%, to a median $580,000. Suffolk County median closed sale prices jumped by 5.8% to $439,000 and pending sale prices rose by 8.4% to $450,000, the listing service reported.
In July 2020, the median list price of single family homes in Queens County, NY was $750K, and media sale price was $650,000; condos median list price was $638,000 and media sold was $530,000. Homes in Queens County, NY sold for 3.5% below asking price on average in July 2020
Combined with record-low interest rates and high rents, City dwellers are adding another element to the frenzied pace of available home buyers. The average interest rate was 2.96% last week, down 0.64 percentage points from a year ago, mortgage giant Freddie Mac reported Thursday.
"This method of engaging our customers have proven fruitful for everyone", explained Donnamarie Chaimanis, President Laffey Real Estate. "With Zoom, WhatsApp, Google Meets live streaming and showing appointments, the overwhelming number of buyers coming to our website requesting virtual showings and meetings has been awe-inspiring."
Since mid-April, during the height of the pandemic and beyond, Laffey Real Estate débuted more than 500 Virtual Open Houses reaching thousands of potential buyers across Laffey.com, Agent Websites and Facebook.
Laffey Real Estate is proud to be featured in the July 2020 Delta Media Group's industry publication, Real Estate Marketing and Technology Magazine, titled In A Town Full of Apples, Be the Orange. How Long Island's Laffey Real Estate Stands Out from the Competition.
An orange you might say? Well, frankly, yes! In terms of standing out, the metaphor works. Laffey Real Estate has made it their mission to be unique in both brand and business model.
if this pandemic has taught us anything, as a brokerage and as a society, it is that we have to learn to adapt. And, adapt quickly! Once the senior management team realized that the world as they knew it was coming to a screeching halt, they jumped in and, using Delta's Virtual Business Platform, began the training program that gave agents the tools to keep focused and help buyers and sellers once the world reset.
Laffey Real Estate is proud of the team that orchestrated the single most daunting responsibility in recent memory. How could they maintain a safe environment for the agents and employees while keeping the doors open for the clients and customers? Embracing the virtual platform was the answer. Using Facebook Premiere, Zoom, Google Meet and a great technology partner, the months following the shutdown were certainly difficult but the Laffey Real Estate agents didn't miss out on being able to 'get in front of' their sellers and work with buyers and renters alike.
Kudos Team Laffey!
Read the full article here --> In a Town Full of Apples...
When shopping for a new home, most buyers tend to think first about the location and maybe the size. But the layout of a home is one of the most significant parts of the homebuying process. From the shape and size of the home to the number of stairs and the distance between the living room and kitchen, the flow and layout of the home will impact your daily life. Choosing the perfect home layout requires careful consideration because you don't want to regret your choice or outgrow your living situation a few years down the road. To help determine which layout will work best for your family currently and in the future, here are some pro tips from our real estate agents.
Start off your new year with a new home by getting your loan pre-approval and preparing to purchase. A new year means a new start, and a sparkling home awaits.
Our real estate agents understand that the pre-approval process can be rather confusing. To start off your new year right, we're here to help guide you through this first stage of the home purchase process.
Knowing your credit score is a great place to start when deciding if you are ready for a pre-approval. Lenders will have varying minimum credit scores, but for the most part, you'll need a score of at least 620 to ensure you are approved for a loan.
Moving can be nerve-wracking and exhausting. You have to do so many things in one day just to make sure that you move your stuff without any major hiccups. Now that you have safely reached your new home, you have every reason be proud of yourself. But there's a score of immediate tasks to complete before you start unpacking and organizing your home. Our real estate agents share a list of 5 things to do immediately after you move into your new house.
Student loan debt is frequently cited as one of the most common reasons that younger generations postpone buying a home, but don't let that stop you from shopping! While it's true that student loan debt can have an impact on the purchasing process, it's far from an insurmountable hurdle.
By taking the time to clean up your credit, investigate assistance programs, work on your debt-to-income ratio, and get pre-approved for a mortgage, you can put yourself in position to purchase a home. Our real estate agents know what it takes to buy a home, and we've got the details on how to navigate the process when you have student loan debt.
As first-time home buyers enter the Long Island real estate market, finding a new home is more of a challenge than they initially expected. Often, house hunters start their search with a "wing it" mentality. That's not always the best way to approach such a significant purchase in your lifetime.
Today, our real estate agents break down seven habits successful home buyers have in common so you can start your adventure in homeownership on the right path.
When it's time to sell your Long Island home, you know you need to get it shaped up and ready to shine. Your first concern should be curb appeal, or how appealing your home is to a potential buyer driving by. Some experts even say good curb appeal can help you get 10% more in the final price.
You might think of asking a friend to give you an assessment of how your home looks. Make sure you get the honest friend; not the one who tells says you look great after that awful haircut.
Our REALTORS® offer these six tips of where to start to make your curb appeal pop:
National Love Your Pet day is coming up on Wednesday, February 20th. Just like you, our real estate agents at Laffey Real Estate love their pets. Whether you're a dog person, a cat person, or anything else, there's one thing we all agree on: Pets are part of the family!
With that in mind, it's vital to take steps to keep them safe and comfortable while you move.
Moving day is an exciting time, but it can be stressful – to pets as well as people. The noise, confusion, and movement can lead to unexpected behavior from overstimulated animal friends. By taking a few quick steps early on, you can make the process more peaceful for your pets.
Let's look at seven quick tips for moving with your pets:
Are you thinking about buying your first home? This is one of the biggest steps you'll ever take.
If you haven't yet found your dream home, our real estate agents can help you along the way. Before you can call that home your own, however, you'll have to pay for it. If you're like most people, that means working with a lender to take out a mortgage.
Although applying for a mortgage requires some effort, it's really not that difficult. These seven steps will help keep you organized and increase your chances of a fast approval.