Today's Market Trends in #BeaconNY

Today's Market Trends in Beacon NY

Search for homes at MyDutchessRealtor.com

Curious what your home could be worth in today's market? Having an Expert come and look at your home is the only way to get a real market value.

There are many factors in what makes one home more desireable than another...

Looking on Trulia or Zillow to see what your home is worth is like comparing apples to oranges...I can give you expert tips and opinions on the Beacon Sales Market.

I recently had an open house in Beacon NY and one of the buyers visiting said "this house is over priced" it's about $200/sq ft and I couldnt' argue with the buyer because he was right.

His other comments were that over priced homes are just sitting on the market.  I couldn't argue with that statement either...or the fact that he felt the house needed too many updates. I pointed out to him, with a Realtor's help, he can see real market values for comparison. He could make a decision if this home was worth bidding on....

If a buyer knows the market trends and knows that a house is over priced, they have the option to put in a real market offer based on the homes' desirablity; if it's not updated we would take this into account.  But, as in Beacon NY, when homes are selling fast there are other things to consider when buying. When a buyer knows they want a house regardless of needed updates, they quickly realize, they might not get the home if they offer too low and or they might also end up in a bidding war.  We've all heard of "Buyer Beware" and "Buyer's Remorse" but I've come across too many Buyers that have lost out on too many homes who've learn they must act faster and more competitively.

Buying a home is a little like this old saying:

"A Home is only worth what someone is willing to pay for it"

I know that sounds crazy, but if you have enough money and you are willing to out bid a normal sales price, that home could be yours....and in a market of bidding wars in a desirable town, we are seeing more of this.  Some homes may not be appraising at the sales price, but when you're putting down "no contingencies on appraisal" and you have plenty of cash towards purchase, you don't have a problem. whereas a normal buyer would.

Here is a broad range graph on Today's Market Trends in Beacon NY

Call your local Expert, who has focused on selling homes in Beacon NY for the last 10 years,

Crystal De Raffele

Realty Executives

NYS Lic. Real Estate Salesperson

(845) 416-4281 cell

www.BeaconHomes.us

www.MyDutchessRealtor.com

MyDutchessRealtor@gmail.com

How Much is my Beacon Home Worth? Ask me

What is my Home Worth?

Have you ever relied on your Tax Assesement to know your Home's value?

Maybe you've searched online Ads or Home Listing Websites for House Values?

A client recently asked me why Zillow had her home listed as being worth only $228k; she paid $379k 9yrs ago.  She went on to say, she click on a "Home Values" site for a free estimate, they had her homes' value at $180k! And the sales comps they used dated back to 2012 & 2013, so she knew it wasn't even near recent market value!  I told her not to worry, these online sites are rarely the actual market value.  

DO NOT DESPAIR!  

I pulled comps for her neighborhood and called her back.  Listen I said, "the market is down, but it's also coming back....so based on the recent sales of smaller or less comparable homes in your neighborhood and the improvements you made to the home, I know realistically I could list it for $299k....YES, $100k less."  The heartbreaking part is all the work they had to do to bring the 1950's home up to date; New Kitchen, New Appliances, New Open Floor Plan, Removed Carpeting & Refinished the Hardwood Floors, New Windows, New Bathrooms....YIKES!  

After we talked about all she had done, I said...."Weeellll....maybe we can showcase your home and ask for $325k" BUT, I warned her if we got absolutely no action, she would need to adjust her asking price within the month if nothing happened.  I told her we would do a Sales Push like a "Full Court Press" (this is when an aggressive team pounds the other team relentlessly) We would try higher for the first 30 days.

BROKER's & PUBLIC OPEN HOUSES, EMAIL Invites to Agents, Offer a 3% commission to the Buyer's Agent if they bring an offer in the first 30 days....and so on.  She agreed to try it and was willing to reduce to the original value I found for her street, if there no offers came in.  Now, keep in mind, her property is excellent...she has 2 parcels, almost 3 acres and a pool that the other sold homes on her street don't have, so WHY wouldn't I try harder for a higher sales price?

The moral of the story is, call your Realtor, Don't rely on internet websites for your Home's Value!

Fair Warning to Homeowners Looking ONLINE FOR THEIR HOME'S VALUE:

Using Zillow, Trulia or Online Market Ads to find what your home is worth, is not absolutely the truth. These sites simply can't be perfect....don't get me wrong many sites are wonderful tools for sellers/buyers to use.  Both Seller's & Buyer's  need to consult a local Real Estate agent that knows the housing market well and can provide proof of the current market values.  We do this by creating a specific CMA, Current Market Analysis to matches a homes' criteria and selling points to show the possible market value.  

USE A REALTOR: Buyers know they aren't over paying for a home....and

Sellers know they are listed at the right price to sell their home....

Seller's have to educate themselves also....I would highly recommend taking a field trip w/your Agent to view your competitor's....you need to know what you should be priced at to sell.

Looking to find out "How Much Is Your Home Worth?"  Give me a call.  I service Dutchess County NEW YORK, primarily but I also list homes in Orange, Putnam, Westchester & Ulster County...

Sincerely,

Crystal De Raffele

Real Estate Salesperson

Realty Executives 

845-416-4281 cell

Search For Homes

Follow me on Facebook

Check out my website at MyDutchessRealtor.com

Wappingers NY, Homes Sold in 2013

The Dutchess County Realtor Report, for Wappingers NY

Beacon NY, Homes Sold in 2013

The Dutchess County Realtor Report, March 2013, Homes Sold in Beacon, NY

Fishkill NY, Homes Sold in 2013

The Dutchess County Realtor Report for Fishkill, NY

Home Improvements that Sell

Home Improvements that Sell, Survey Says:

Home Improvements that Sell 

   

Survey Says: what to do, what not to do…If you’re thinking about remodeling your kitchen, or finishing your basement, you probably want to get your investment back when you sell your home. But when it comes to payback value of home improvements, some are definitely more profitable than others. As a general rule, kitchen and bathroom projects usually get a nice return on investment, typically 90% or more. Things like adding rooms or finishing basements tend to pay back the least. So it’s not a project likely to show profit at selling time.

The type of project you do and how it fits in with other homes in the area can have a big influence on payback too. If you put your money into the wrong type of improvement, you won’t get your money back. But if you're smart about what you do, you can make money. The payback will be better on improvements that are in demand and conform to neighborhood standards. Adding a second bathroom in a neighborhood where most homes have two bathrooms will give a high return on investment. Building a large addition that makes your home twice as big as the other homes on the block probably won’t pay back very well. Likewise, the popularity of a project will factor into how much it pays back. An improvement heavily customized to your wants and needs won’t pay back as well as something more common to other homes in the neighborhood.

Another factor to consider is the cost of the improvements. If you can do the work yourself, you can save significantly on the cost of the project and greatly improve the chances of getting a good return on the investment.

The list below is compiled from several published surveys and shows typical payback for some popular remodeling projects:

  

Kitchen remodeling – 90%  Add a bathroom – 90% Bathroom remodeling – 80% Install central heating – 90%   Install central air – 75%   Add a deck – 70%

Replace windows – 70%  

Leave for the buyer: 

          Add a room – 55%  Build a pool – 45%  Finish a basement – 40% 

Remarkably these score the lowest, yet add so much to curb appeal, which putsa home on the “must see” list for buyers….Exterior – 20%  Landscaping  - 20%