Our real estate agents know that financing is one of a homebuyer's biggest worries. It continues to be a concern even on your second or third home. In fact, homeowners have unique challenges when it comes to selling their existing home and buying a new one!
When there's a gap between the time you close on a new home and closing day on your existing one, it can introduce real financial peril. In many cases, this can stretch your budget to the breaking point. But even if the timing doesn't line up perfectly, you still have options you can pursue.
One of those is the bridge loan.
When it comes to buying a home, planning is essential. The sooner you get started, the better. That is especially true for most buyers who will need some financing to meet their goals. Our real estate agents are always glad to clear up your questions and make homebuying easier.
You don't have to have the perfect credit score or a huge down payment saved up to buy a home, but there are some things you should avoid doing. While lenders have a lot of leeway in deciding who to offer financing to, there are some issues that they simply won't be able to overlook.
Downsizing can simplify life, whether you're an empty nester or looking to get into the tiny home trend. A smaller house means less upkeep, lower bills, and more time and money to do the things you love.
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.
Home garages are not what they used to be. Homebuyers expect the garage to have adequate space for parking one or two cars, storing tools and household items, building home projects, and pursuing hobbies. According to our real estate agents, buyers expect the garage to be a livable space in the home that serves multiple purposes.
In most newer home developments, the garage is attached to the house. This provides easy access to the house and added safety when parking the car, especially at night. The garage has become an important home feature that prompts home buyers to ask a lot of questions before making an offer on a property.
Real estate markets across the country are booming, with more buyers shopping than there are homes available in many markets. With homes selling so quickly, it's important to consider all options for landing the top choices on your list of potential homes. For buyers in a competitive market, an early offer can be an appealing option for trying to land a home before more buyers get the opportunity to make a bid. There are both positives and potential pitfalls to making an early offer, and our real estate agents are here to help you decide on the best options for purchasing your next home.
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.
Real estate is a financial investment, but it's also an investment in the type of lifestyle you want to enjoy. There are advantages to purchasing a home, and there are advantages to buying a condo. Carefully weighing your options is the key to making the right choice for your future.
A house is more than just four walls and a roof that encloses a large space. It is also a yard, fence, and landscaping that you will need to maintain. And, unlike a condo, all of the maintenance is your responsibility. Unless you have an HOA, the advantage is that as the sole owner, you have full decision-making authority over how to maintain it and what you want to include in the landscaping. In general, you can expect to spend approximately 1 to 2% of the home's purchase price each year on maintenance. Further, if an HOA governs you, you will also need to pay HOA fees to maintain landscaping, parks, pools, etc. within the community.
If you're buying a home in a location that you can't readily commute to, video visits are a perfect way to get up close to a house you may not be able to see in person just yet. Video visits can help you narrow down options, or reduce the risks when you must buy a new home sight unseen. Our real estate agents are highly experienced in helping home buyers in a variety of situations, and we want you to make the best of your visits, whether virtual or in person. You should have a list of questions to ask about the homes you view; you can add these, or use them to start your list.
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's James Gavin!!!
Long Island Press recently named Manhasset's own James Gavin to the 2020 Top Realtors of Long Island. We are proud to recognize James Gavin, a Licensed Real Estate Salesperson, as a true professional in the Residential Real Estate industry. He is a Luxury Home Marketing Expert with a very successful and impressive portfolio of representing notable and distinct North Shore homes.
Gavin's accolades include being named "Rookie of the Year" at his Manhasset firm in 2015, earning the title of "Rising Star Residential Agent Of The Year" by Long Island Business News in 2017, and being named to Zillow's Best of the Best list in 2019. He sells homes all along the North Shore Corridor from Great Neck to Cutchogue with a specialty in the Manhasset-Port Washington-Sands Point Markets.
To preview his historic legacy transactions and read more about his beginnings, visit his website Jamesgavin.laffey.com. A lifelong resident of the North Shore, Jim resides with his wife and daughters in Manhasset.
Laffey Real Estate congratulates all of the recipients named to the 2020 Long Island Press Top Realtors List.
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.
The world health community continues to monitor closely the emergence of the SARS-CoV-2 virus and the disease it causes, named "coronavirus disease 2019" (COVID-19). At this time, no one knows how severe this outbreak will be. Given this uncertainty, and the fact that the seasonal influenza (flu) virus is also widespread, we are taking proactive steps to address a number of business concerns.
First and foremost, we want to continue to maintain a safe workplace, encourage our valued community residents to utilize practices that protect the health of family members and friends. We also want to ensure the continuity of business operations. To that end, the company has contracted with a professional cleaning service to perform an extensive two step deep cleaning. Within the last 24 hours, all Laffey Real Estate offices have undergone this essential service. While we cannot eradicate every germ, we are confident that this activity will help reduce the unintentional spread of the virus.
We ask that everyone cooperate in taking steps to reduce the transmission of communicable diseases.
We are reminding you of the following:
Of note, our senior management team has made a collective, albeit difficult, decision to temporarily close our branch locations in an effort to protect our employees, agents and of course the members of the communities we serve. To that end, we have instructed our IT department to install remote software on all essential office personnel computers so as to continue with the business at hand.
Currently, Open Houses are being scheduled at the behest of the Seller. However, company initiated meetings where close proximity may put someone in danger of contracting the virus have been postponed.
We are moving to a virtual platform to remotely schedule Closings, Lease Signings and other events deemed time sensitive or essential. We are heeding the instructions from the CDC and other health care experts, taking every step possible to reduce the spread of COVID-19.
We know this is a difficult time. Be mindful of the elderly and those with pulmonary or compromised health situations. Check in (by phone) on older neighbors, family members and friends. Use your common sense and discretion as you go about your everyday life.
Laffey Real Estates wishes you safety and health.
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.
Gated communities offer many amenities for homeowners. From added security to guest services, to shared facilities like pools or tennis, a gated community adds that "something extra" to suburban living. While all of these communities offer different bonuses compared with standard street housing, not each community will have the same offerings. Our real estate agents offer the following advice to help you know what to look for when buying a home and to choose the right community for yourself and your family.
For some communities this may be a simple physical gate with a key or code, in others, this may consist of a robust security system including a staffed security guard. There are benefits and drawbacks to each type of security. If security is simply an automated keypad, this will be less difficult to breach, but personal security may instead be more expensive. Either type of security has a shared safety advantage. However, less traffic in the area means a reduced risk of accidents for both cars and people, as well as less stranger-based vandalism or theft.
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.
Our real estate agents have helped clients just like you tackle the challenge involved in buying a home in a different state. Although this adds some complexity to the buying process, you can navigate it with help from an expert.
Let's look at some of the secrets to finding your dream home in another state:
The much anticipated 2019 Real Trends 500 and T3 Sixty's Mega 1000 annual real estate industry rankings reports has been released online. Laffey Real Estate, once again, has ranked among the nation's leading residential brokerages nationwide. Both firm's are trusted sources for ranking the performance of residential real estate companies.
REAL Trends, in its 32nd year, showed that the nation's leading realty firms outperformed the market with data from 1,757 firms, a record number, who qualified this year. All data requires independent verification and REAL Trends is considered The Trusted Source for information about performance of the firms in the report.
T3 Sixty, a newcomer to the industry ranking platform, released their second annual comprehensive brokerage and franchise report with the Mega 1000. T3 Sixty uses sales volume as its lead ranking criteria as a benchmark of a company's overall strength. Placing in the top 50% of the list, Laffey Real Estate ranks among the region's best residential real estate independent brokerages.
"Without the best data available, assumptions and decisions are flawed before they're even made," said T3 Sixty CEO Stefan Swanepoel. "The Mega 1000 is committed to provide the most accurate and complete information possible," Swanepoel added.
Among Top Leading Real Estate Companies of the World affiliates, Laffey Real Estate placed an impressive 111th with 13 offices in three counties. Supporting the independent brokerage model, the firm placed at 186th among the nation's Largest Independent Brokerages and also placed in the top 500 in Total Sales Volume with $632 Million in residential home sales transactions.
"Statistically speaking, we are exceeding pleased with our placement in the rankings", explained Philip C. Laffey, Principal, Broker/Owner. "However, we are more cognizant of the fact that every one of these closed transactions represents real people who have put their faith in our firm to represent them during one of the most important decisions they will ever make."
About REAL Trends
REAL Trends has been The Trusted Source of news, analysis, and information on the residential brokerage industry since 1987. We are a privately-held publishing, consulting and communications company based in Castle Rock, Colorado. Residential real estate leaders look to us for timely and trusted information and analysis through our monthly newsletter, news updates, conferences and publications.
About T3 Sixty
Exclusively serving the residential real estate brokerage industry, T3 Sixty provides real estate CEOs, business leaders, association and MLS executives, brokers and high-performance teams the knowledge, best practices and support to grow their businesses. The company does this through management consulting, training and in-depth research and quality publications, such as its hallmark Swanepoel Trends Report, an annual analysis of the top trends shaping the industry for the next 18 to 24 months. The firm's consulting divisions include brokerage, technology, mergers and acquisitions, and associations and MLSs. Find out more here.
About Laffey Real Estate
Laffey Real Estate is one of the largest privately held independent family-owned residential real estate firms on Long Island with a network of over 500 agents in 13 offices throughout Nassau, Western Suffolk and Queens Counties. Their global partnership with Leading Real Estate Companies of the World®, Luxury Portfolio® and Who's Who In Luxury Real Estate® extends their reach to more than 70 countries worldwide. The firm is a full-service provider offering expertise in sales, rentals, relocation, mortgage, new development marketing, mortgage and title insurance to the Long Island marketplace. Their pioneering sales management platforms, worldwide brand identity and industry-leading training curriculum embody best in class standards throughout the industry. Consumers trust in Laffey Real Estate name to represent their home buying and selling interests locally and globally. Consistently ranked by the two of the industry's leading consulting and research firms, Laffey Real Estate has an exceptional record of success. With over $645 Million in Sales in 2018 and 936 total transactions, REALTrends 500 placed the firm at #186 among the largest independent brokerages, #475 in total sales volume and # 111 among Leading RE affiliates nationwide. T3 Sixty's Mega 1000 Report placed the firm at #504 among the nation's largest brokerages in the country.
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.