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Let’s Give Them Information and Get Your House Sold December 5, 2006

Posted by Geri in Buying a Home, Home, Long Island, Marketing, Real Estate, Real Estate Market, Selling Your Home, Uncategorized.
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I suppose the holiday season plays some part in my reflections on the past year, professionally and personally, and the industry in which I function.  As a Realtor, you might think I’m in the business of selling homes, but bricks and mortar are not at all what it’s about.  In reality, I’m in the people business.  An excited smile on the face of a buyer when I finally get to say “you got the house,” is my reward, as is the relief erasing deep lines of tension on the forehead of a seller left behind to mop up the final details of a home sale.

I’m lucky enough to be there at times of transition, when my support is a rock they can lean on, so it disturbs me more than I can say when I hear stories about agents who care far more about themselves than the people they represent.  It is not unusual for a listing agent to suggest to an unwary seller that his/her buyer is the best choice because . . . you fill in the blank.  Unfortunately, it may or may not be true.  With a much higher commission at stake, it’s easy for some to convince you and themselves that they’re acting in your best interest.   You need information presented to you in a dispassionate way.

Then there’s the question about how much information should be shared about your property.  A days old post in the blogosphere brought the topic front and center for me . . . again.  Believing that the ultimate goal is to get your home sold at the best price the current market will bear, in a timely fashion, we want it to be found — by a lot of potential buyers.  Understanding that people in search of real estate are likely to want to know where it is, I always (with my sellers’ permission) include the address.  Sometimes purchasers are interested in a particular school, or proximity to highways or shopping.  If they have no defining data, they very well might pass on your home, depriving you of what might be the perfect match.

The Year of the Mega Deal November 25, 2006

Posted by Geri in commercial real estate, General, In The News, Long Island, New York, News, Real Estate, Uncategorized.
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With another huge real estate portfolio on the block, Morris Sosnow’s estate has offered up 400,000 square feet of commercial space, most of it in Long Island’s Nassau County.  This was certainly the year of the mega deal in New York, with the $5.4 billion sale of Stuyvesant Town and Peter Cooper Village so recently consummated.  Though hardly in the same class, this promises to be another interesting transaction.  If I were to venture a guess, I’d bet the going price is higher than $80-100 million suggested for the commercial properties.  Being sold also are close to 600 co-op units, most of them in Queens.

Some of the space to be sold is Birchwood Plaza North and South, sitting on the periphery of the affluent community of Birchwood Park East in Jericho.  With a relatively new Whole Foods Market, having replaced an aging Waldbaums as an anchor store and a sizable Marshall’s occupying space at the other end, this is some prime real estate.

For more of the story, read Dawn Wotapka Hardesty’s article in Long Island Business News. 

The Annual Debate — Is It Time To Sell, or Buy? November 21, 2006

Posted by Geri in Buying a Home, Home, Long Island, New York, Real Estate, Real Estate Market, Selling Your Home, Uncategorized.
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Thanksgiving, just two days away, kicks off the holiday season, focusing attention on shopping for gifts not houses.  I’ve had sellers ask me for weeks whether the market for homes is dead for the balance of the year.  This may come as a surprise, but in my world there’s usually a surge of activity between now and Christmas, setting the wheels in motion for a number of closings in the early months of the new year.

Even with the less than stellar environment we find ourselves in on Long Island, I see increased interest and activity.  Possibly some of those buyers waiting on the sidelines for the elections to be over are now ready to make a move and are positioning themselves to act when the right property presents itself.  So to all those sellers and buyers trying to decide whether the time is right, the answer is — if it fits into your life plans, your timing is perfect.

Long Island In The Top Three November 17, 2006

Posted by Geri in Buying a Home, family, General, Home, In The News, Long Island, New York, News, Real Estate, Uncategorized.
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It may come as a surprise to some, but certainly not to me.  As reported by Newsday, the December issue of Self magazine ranked Long Island third, right after Honolulu and Portland, Maine as one of the healthiest places in which women can thrive.

“Surprised? Don’t be, said Sara Austin, the magazine’s news director. Nassau and Suffolk’s low rates of crime, unemployment and suicide and its population of highly educated and affluent residents helped boost the rating.”

A long time resident of Long Island, one of the first things that struck me as I searched for a home was the comfort women seemed to have in their environment.  Many times as I trolled the area I saw women alone, jogging at ten o’clock at night.  I remember thinking at the time that their obvious lack of fear was a good indicator of a safe place in which to bring up my son.  I’ve never regretted my choice to make Long Island my home and I’ve spent a lot of years helping other people do the same.

Just In Time For A Christmas Miracle November 17, 2006

Posted by Geri in Dogs, family, feelings, General, Home, In The News, Long Island, News, Pets, Uncategorized.
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There had to be divine intervention for two miracle pups rescued by Little Shelter on Long Island.  Magic and Merlin, three week old mixed breed puppies born with severely cleft palates would have had no chance at survival without the intervention of the caring people at Little Shelter, one of the island’s oldest no kill facilities.

As so often happens when good samaritans hear about the plight of others, there was an outpouring of offers of assistance.  They came from far and wide and included Plastic Surgeons,  Veterinarians and the public at large.  Reported in Newsday, they’re waiting for the dogs to be old enough for the first of multiple surgeries to set them on the path of hopefully long and happy lives.   They will remain in my prayers.

Through The Keyhole November 5, 2006

Posted by Geri in Buying a Home, Entertainment, Estates, Home, In The News, Long Island, New York, Real Estate, Selling Your Home, Uncategorized.
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An endlessly entertaining voyeuristic activity is taking a peek into the lives of the rich and famous.  There is a huge chasm between those who count their pennies,  saving up to buy a little piece of the American dream and the moneyed minority trading acreage for numbers that boggle the mind of the masses.  The players in this week’s multimillion dollar game are:

The Dolan family which controls Cablevision, Madison Square Garden, The New York Knicks and Rangers having listed a 10,000 square foot, waterfront home in Centre Island for $13.5 million.  If the price seems steep, think of what you get — a visually stunning newly constructed home (2005) with 7 bedrooms, 7 full and 2 half baths and 7 fireplaces on over 6 acres.  Spellbinding views framed by a charming gazebo add to the ambiance of an already abundantly appointed home.

On the other end of the spectrum is the famous Connecticut plastic surgeon who plead guilty to tax evasion.  His $15.5 million waterfront home is in tony Wesport Connecticut.

For more of the story on these and film producer Brian Grazer’s home in Los Angeles, take a look at this article.

How EZ Is It? Ask Eppraisal or Zillow October 31, 2006

Posted by Geri in General, Internet, News, Real Estate, Selling Your Home, Uncategorized.
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With Zillow sitting in water hot enough to reach a rolling boil, another online appraisal service breaks the surface of the market in its beta stage.  If one of Zillow’s problems was offering a finite price in their determination of value, Eppraisal with its huge range could be just as problematic.  Zestimates were found to be so far off in many cases as to be worthless to a naive public.  Eppraisal, on the other hand, based upon some observations on a very local level, is indeed in the ballpark when it comes to suggested valuations, but the ballpark is Yankee Stadium.  It’s a little like trying to buy clothing for a woman, being told she’s somewhere in the range of 6 to 16.  What size would you buy? 

One of the big differences I see is Eppraisal’s offer of some information with an orientation of connecting the consumer with real estate professionals should a real life transaction loom somewhere in the foreseeable future.  I’m interested to see where their business model takes them — and us.

I Couldn’t Have Said It Better Myself October 28, 2006

Posted by Geri in blog, Bloggers, Blogging, General, Marketing, Real Estate, Real Estate Market, Selling Your Home, Uncategorized.
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Under the category “I couldn’t have said it better myself . . .” is this post from  Seth Godin.  I sat down to share it two days ago but sheer exhaustion forced me to temporarily put it on the back burner.  I’ve been spending weeks unexpectedly acting as a general contractor, getting a home ready to market, and shopping for the necessary accoutrements to stage it for sale.  The house was stuck in a time warp, with flocked wallpaper heralding your arrival into it’s archaic past.  This project is in addition to a full load of other business in various stages of development.  However, in our stagnant market in order to really serve our clients, we have to be very creative in our approach to selling their property.

But I digress . . . Seth’s very straightforward comments about how we interact with our clients and the impact it has on both them and our business reminds me of a technique we used many years ago when I was vice president of a sales and marketing company.  We ran seminars all over the country and Canada, showing CEOs how to maximize their marketing dollars.  Before these meetings we would phone their companies incognito and record the conversations to demonstrate how important the person answering the phone was to the financial well being of that company.

Grown men sat, head in hands, listening to the most appalling dialogues between their employees and us, or worse . . . they sat shifting in their chairs as time ticked slowly away while we were put on hold.   Astoundingly these pregnant pauses sometimes lasted for four or five minutes.  Bill, my boss, would then take out a crisp one hundred dollar bill and dramatically set it on fire as they reached out in horror trying to put out the blaze.  When the room was once again still he would quietly tell them, “this is what you’re doing to your advertising dollars if you don’t train your people. 

That challenge was made at least twenty-five years ago and nothing’s changed.  If we’re trying to generate business but haven’t figured out how to nurture it once we have it, we defeat everyone in the process.  The old adage “do unto others as you would have them do unto you,” certainly applies.

It’s A Dog’s Life October 25, 2006

Posted by Geri in Dogs, family, General, Home, Pets, Real Estate, Uncategorized.
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We all know that the real estate market is in the doldrums in much of the country.  With houses stagnating in a constipated market, some real estate agents are beginning to wonder where their next sale will come from.  Suggesting an interesting alternative, Glenn Roberts Jr. of Inman News exposes us to the world of Doggie Mansions.  

In true consumer oriented fashion, Donald Gorbach, a veteran real estate broker in Palm Beach, Florida offers a wide range of custom homes for those princely pooches.  Not to overlook the preferences of Fido’s owners, they’ve created a meditteranean Palm Beach style,  a New England beach house and Casa Colonial, just a few of the many choices.

For all the dog lovers out there, it’s worth a look at this innovative site.  If you’re thinking of buying a special home for your four legged friend and you don’t want your kids to be jealous, you might want to consider the 80 square foot mini-mansion.

Selling On Long Island . . . The New Math October 24, 2006

Posted by Geri in Buying a Home, Changing Market, General, Home, Long Island, New York, Real Estate, Real Estate Market, Selling Your Home, Uncategorized.
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Your home is currently on the market or you’re just about to list it for sale.  There are a few very important things you must remember if you want to keep it from languishing on the “failed to sell” heap.  With ever increasing numbers of houses available, yours has to appeal to a buyer on one of several levels.  They will either perceive it to be a real value, meaning it’s priced very well for what it has to offer, or it may be in a very desirable location.  The latter can mean a beautiful view, waterfront, a lovely development or a gated community with great amenities.  Sometimes it’s the home itself that pulls people in and makes for a faster sale.

You have but to drive down almost any street on Long Island to see multiple signs announcing to the world, “buy me.”  Because of the increased length of time it takes to find a ready, willing and able buyer, you have to be realistic if your motivation is get your home sold.  The days of multiple offers and bidding wars are a thing of the past and there’s a new mentality among the buying public.  They very often and after much thought, proffer a price only to refuse to then play the game.  It’s a one time offer and it’s not negotiable.  And sadly it’s happening more and more.  So think carefully before you feel insulted or turn it down out of hand, you might be chasing after them by next spring..

Sellers in Nassau and Suffolk counties who want to move on have to learn the new math.  Don’t overprice and be willing to entertain all reasonable offers.