Lindenhurst NY Real Estate Century 21 AA Realty: December 2011

Lessons Learned In Real Estate - 2011: A Year In Review

lessons learned in real estate 2011Lessons Learned In Real Estate - 2011: A Year In Review

2011 ends my 2nd year in real estate. Still so much more to learn but have learned so much this year.

I've learned............

  • It's ok not to take overpriced listings. They don't sell and preserving the relationship before it starts is more important.
  • It's ok to take a guilt-free day off as long as I've earned it.
  • To only take continuing education courses that benefit my buyers and sellers and not just for myself.
  • It's ok to not have all the answers and to seek help when I need it. Swallow my pride!
  • To get out of my comfort zone. I love door knocking!
  • Never to take no for an answer because my clients and customers have benefited from it.
  • To take better photos for my listings.
  • To help newer agents not make the same prospecting mistakes I've made.
  • That blogging for business takes a lot of work but is well worth it and never a waste of time.
  • It's ok to pick and choose with whom I want to work with.
  • To be realistic about goals.
  • That most people and real estate agents are good, hard working, honest people.
  • That moving my desk to a quieter area has kept me more focused.
  • It's ok to not blog every day. Blogging like a mad woman for 2 years is what has helped keep me in business.
  • That short sales can be a real bitch but they do close!
  • It's ok to stay away from time suckers and not feel bad about it.
  • To manage my time better and to spend more time with my family and friends.

    I wish all of you a Happy and Healthy New Year!

 

 

jackie connelly fornuff century 21 aa realty



                                                      lindenhurst ny realtor


century 21 aa realty jackie connelly fornuff
Cell: (631) 703-0201
Office: (631) 226-5995 Ext. 242
Email: JackieC@century21aa.com
Website: www.longislandrealestatelady.com
Website: www.lindenhurstnyrealestate.com
Blog: http://jackieconnellyfornuff.com
Skype ID: LIRealEstateLady
           

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9 comments • Jackie Connelly-Fornuff Century 21 AA Lindenhurst NY • December 29 2011 02:04AM

Lindenhurst NY REO Properties For Sale

lindenhurst ny reo foreclosure homes for saleLindenhurst NY REO Properties For Sale

There are six REO properties for sale in Lindenhurst NY. Prices range from $139,900 to $235,900.

When buying an REO property in Lindenhurst NY or anywhere else on Long Island, expect to do work to the home. Never expect move in condition especially at these low prices. You may have to completely overhaul the home meaning replacing windows, roof, heating & A/C system, new kitchen, new baths, flooring, etc. I have found that the bank who owns the home may redo the hardwood floors but don't count on that either.

You may be eligible for a 203K/Rehab Mortgage or a 203K Streamline mortgage. Consult with your mortgage broker about these two mortgage products. I had 2 buyers close on an REO property in Lindenhurst NY with a 203K Streamline Mortgage and the other in N. Babylon with a 203K mortgage. Both transactions went smoothly.

When making an offer on an REO property, asset managers want your best and highest offer from the get-go. Asset Managers/Banks are not emotionally involved like a regular homeowner and do not want to go back and forth with offers especially when there are multiple offers on the table. So, bring your highest and best offer from the beginning. It doesn't guarantee you will get an offer acceptance but one never knows!

If you have been thinking of buying an REO property in Lindenhurst NY or elsewhere on Long Island, call me toay (631) 703-0201 and I will give you more detailed information about buying REO properties.

 

 

jackie connelly fornuff century 21 aa realty



                                                      lindenhurst ny realtor


century 21 aa realty jackie connelly fornuff
Cell: (631) 703-0201
Office: (631) 226-5995 Ext. 242
Email: JackieC@century21aa.com
Website: www.longislandrealestatelady.com
Website: www.lindenhurstnyrealestate.com
Blog: http://jackieconnellyfornuff.com
Skype ID: LIRealEstateLady
           

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6 comments • Jackie Connelly-Fornuff Century 21 AA Lindenhurst NY • December 19 2011 08:04AM

Lindenhurst NY Short Sale Market Report - November 2011

lindenhurst ny short sales

Lindenhurst NY Short Sale Market Report - November 2011

Currently, there are 67 short sale homes on the market in Lindenhurst NY. Prices range from $165,375 to $499,990.

So far, 30 homes have sold as a short sale. As of December 2010, 30 homes sold. Here it is December 2011 and we are at last years sold numbers. I was really hoping we would see the sold numbers increase, not remain the same. But, it is better to be the same then a decrease.

There are 163 regular resale homes on the market in Lindenhurst NY. 

Right now, 28% of the homes on the market in Lindenhurst NY are short sales. In September 2011 we were at 24%. Nothing to panic over. Some towns on Long Island are experiencing 60% of the homes in their market are short sales. So, forget about being able to list and sell a regular resale home in those areas sine the short sale homes are comparable in condition but are much cheaper. Luckily, Lindenhurst NY is not in that position at the moment.

In January 2012, I wil be reporting the year end numbers for the short sale market in Lindenhurst NY.

 

 

jackie connelly fornuff century 21 aa realty



                                                      lindenhurst ny realtor


century 21 aa realty jackie connelly fornuff
Cell: (631) 703-0201
Office: (631) 226-5995 Ext. 242
Email: JackieC@century21aa.com
Website: www.longislandrealestatelady.com
Website: www.lindenhurstnyrealestate.com
Blog: http://jackieconnellyfornuff.com
Skype ID: LIRealEstateLady
           

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3 comments • Jackie Connelly-Fornuff Century 21 AA Lindenhurst NY • December 18 2011 12:32AM

Peter Figoski Scholarship Fund - Donate What You Can

peter figoski scholarship fundPeter Figoski Scholarship Fund - Donate What You Can

You may have heard that NYPD officer Peter Figoski was killed in the line of duty earlier this week. He leaves behind four daughters, two are in high school and two are in college.

Peter Figoski was responding to an armed robbery in Cypress Hills, Brooklyn NY. He was shot in the face once and passed away a few hours later. With 22 years on the job, he made over 200 arrests and received 12 medals. One of them is the Exceptional Merit Award for coming under fire in a brush in the early 1990's with a man who was later convicted as the city's copycat Zodiac killer. I remember that one.

The Peter Figoski Scholarship Fund was created for his four daughters to pay for their college education. You can donate as much as you want/can. I know times are tough for some but whatever you can do will be appreciated I'm sure! Or you can mail your check to:

New York City Police Foundation
Attention Peter Figoski Fund
555 5th Avenue, 15th Floor
New York, NY 10017

I think we forget that our police officers are always putting their lives at risk to keep us safe. They may not be under fire all the time like our soldiers do during wartime, but they are targets for criminals. As soon as a police officer is out on the street, they are risking their lives. Whenever they do a car stop, they are risking their lives. Even when they answer a domestic violence call, they are risking their lives.

With that said, keep Peter Figoski's daughters in your thoughts and prayers.

 

 

jackie connelly fornuff century 21 aa realty



                                                      lindenhurst ny realtor


century 21 aa realty jackie connelly fornuff
Cell: (631) 703-0201
Office: (631) 226-5995 Ext. 242
Email: JackieC@century21aa.com
Website: www.longislandrealestatelady.com
Website: www.lindenhurstnyrealestate.com
Blog: http://jackieconnellyfornuff.com
Skype ID: LIRealEstateLady
           

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3 comments • Jackie Connelly-Fornuff Century 21 AA Lindenhurst NY • December 17 2011 10:35PM

Lindenhurst NY Homes For Sale for Under $200,000

lindenhurst ny homes for sale for under $200,000Lindenhurst NY Homes For Sale for Under $200,000

Currently, there are 11 homes on the market in Lindenhurst NY for under $200,000.

Two of them are REO properties. Eight of them are short sales. One is a regular resale.

Keep in mind when your buying power is under $200,000 and you want to buy a home in Lindenhurst NY, expect to do work to the house. This includes putting in a new kitchen, baths, sheetrock, windows, heating and A/C system, and maybe even a roof. If you are not experienced with how much certain improvements cost, bring a licensed home improvement contractor with you if you are interested in a particular house. You will also still need to get a home inspection. Never, ever not get one of those!

No matter what your price point is, hire me as your Lindenhurst NY Buyer's Agent (631) 703-0201 and I will keep you on track from beginning to end!

Search more homes for sale in Lindenhurst NY:

 

 

jackie connelly fornuff century 21 aa realty



                                                      lindenhurst ny realtor


century 21 aa realty jackie connelly fornuff
Cell: (631) 703-0201
Office: (631) 226-5995 Ext. 242
Email: JackieC@century21aa.com
Website: www.longislandrealestatelady.com
Website: www.lindenhurstnyrealestate.com
Blog: http://jackieconnellyfornuff.com
Skype ID: LIRealEstateLady
           

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5 comments • Jackie Connelly-Fornuff Century 21 AA Lindenhurst NY • December 17 2011 01:33PM

Another REO Property Sold in North Babylon NY!

165 Emerson Avenue N. Babylon NYAnother REO Property Sold in
North Babylon NY!

This REO property in North Babylon NY is a 7 room Colonial with 4 large bedrooms. The master bedroom has a full bath. Also has a 2 car garage and an in-ground pool!

Located in the Poet Section of North Babylon NY.

Sold for $328,000 and the buyer's bank appraiser appraised it for $350,000. Yes, my buyers got a good deal!

The bank who owned the home actually finished the hardwood floors before putting it on the market. Very smart!

I have to say that this is my second buyer who bought an REO property and the experiences have been positive. No major issues.

With REO properties, a deep title search must be done. It is called a title chain. Research needs to be done thoroughly to make sure the buyer doesn't have problems in the future when it comes to owning the home. You don't want a former owner coming to the door stating they still own the home. This is why hiring a real estate attorney who is experienced with REO properties is essential.

My buyers couldn't be happier! The Poet Section of North Babylon will be getting a very nice family moving in!

 

 

jackie connelly fornuff century 21 aa realty



                                                      lindenhurst ny realtor


century 21 aa realty jackie connelly fornuff
Cell: (631) 703-0201
Office: (631) 226-5995 Ext. 242
Email: JackieC@century21aa.com
Website: www.longislandrealestatelady.com
Website: www.lindenhurstnyrealestate.com
Blog: http://jackieconnellyfornuff.com
Skype ID: LIRealEstateLady
           

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11 comments • Jackie Connelly-Fornuff Century 21 AA Lindenhurst NY • December 17 2011 09:00AM

Lindenhurst NY Short Sales - Handle With Care!

lindenhurst ny short salesLindenhurst NY Short Sales - Handle With Care!

Last week I overheard a conversation between a new agent and a seller. This new agent is very zealous which in my book is a good thing but to a point.

Short sales in the Lindenhurst NY area have been steadily around since 2005. I am finding that some are closing in 90 days or less but that is not the norm here.

I figured out what the questions were by hearing the answers this agent was giving:

"Short sales take anywhere from 2 months to 4 months to close". Really? My short sale listing has had a buyer on it for six months and counting and that is with everything going smoothly. Check the sold Lindenhurst NY short sale homes in the MLS for the past year. You will find that most take six months to 9 months to close. Some have taken a year!

"The homeowner has no say in the offer, the bank does". No, the homeowner still owns the home and under the guidance of their agent, still negotiates the offer to make sure the bank will accept the offer as well. That doesn't always happen either but the closer to market value the better.

"Most short sale homes are at least 30% below market value". Ha! Think again! A small percentage are way below market value but those are the homes that are literally ready for a bulldozer <I kid you not>. When putting a short sale home on the market it needs to be priced at market value. The bank wants us agents to report the activity level at each price point. I have a short sale right now in Lindenhurst NY where the bank called ME to reduce the price after I told them the lack of activity. I almost passed out!

"Short Sales are easy!" Yeah? Really? You've been an agent for 2 months and have 1 deal under contract? Short sales are not easy. Every negotiator is different. Every investor is different. You never know what is going to happen next even when you have all your ducks in a row. Things are going along smoothly then............BAM! You get suckered punch. How are you going to handle that? Do you know what documentation is needed for that particular bank? Every bank is different too when it comes to documentation and how to get it to them. How will you handle it when there are 2 banks on the mortgage? I shudder the thought.

We all remember being excited when we were brand new to real estate. Short sales are completely different. Please, please, do not take one on yourself . Partner up with an experienced short sale listing agent in your office. The seller is losing their home and that in of itself is very upsetting to them. Handle your seller with much care. After all, our Code Of Ethics tells us to!

 

 

jackie connelly fornuff century 21 aa realty



                                                      lindenhurst ny realtor


century 21 aa realty jackie connelly fornuff
Cell: (631) 703-0201
Office: (631) 226-5995 Ext. 242
Email: JackieC@century21aa.com
Website: www.longislandrealestatelady.com
Website: www.lindenhurstnyrealestate.com
Blog: http://jackieconnellyfornuff.com
Skype ID: LIRealEstateLady
           

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5 comments • Jackie Connelly-Fornuff Century 21 AA Lindenhurst NY • December 09 2011 09:15PM