Man Cave: Today’s New City Listings Eye-Catcher 

Marcellariggs.com

Every edge counts when you’re selling your New City home and want it to stand out from all the other listings. Whether you have an underused room you have been wondering what to do with, or already have a ‘game room’ you’re looking to improve before an upcoming open house, in honor of this weekend’s Super Bowl, let’s talk about creating one of today’s most desirable extra-value features: that New City listings star, the “Man Cave!” 

Find the Right Space 

Lisa McDennon, an award-winning interior designer in Southern California’s Laguna Beach, likes the basement as the ideal Man Cave location.  "I think the lack of windows…is a benefit because it's already dark and cave-like. It's also separated from the house by a wall." 

Install the Right Finishes   

Select wall and surface materials with finishes that can be easily adapted to a playroom, craft room, or family room.  ‘Man Cave potential’ may be the way to word your listings winner, because you want to appeal to buyers who have other priorities, too. In the event a potential buyer doesn’t want a Man Cave in their new home (what!?), make sure it is readily convertible. 

Get the Décor Right

Sports and other memorabilia can be overdone. "Too much is too much," McDennon cautions.  That translates into knowing when to let go of some items (or at least keep them closeted during showings.)  Choose a basic color scheme -- and stick with it.

And, needless to say, make sure your Man Cave stays tidy (no brontosaurus bones left lying around)…

If you are in the preparation stages for selling your New City home this winter, and your basement is currently used more for storage and cobwebs than anything else, consider the added pizzazz that comes when you add some Man Cave potential. After all, what men really need these days is a quiet place to meditate on important matters (like the Super Bowl).  I am here all the time to discuss these and many other ways you can maximize your property’s New City listings potential. Call me for a chat & loads of ideas! Marcella 845 544 4026...riggsmarcella@gmail.com.. .marcellariggs.com

Pearl River Housing Momentum on Course to Continue

Pearl River Housing Picture Not Quite Complete

2013 Housing Picture: Break Out the Bubbly?

Housing Momentum on Course to Continue

It may be a little early to start putting the champagne on ice, but looking over last year’s releases of housing reports gives us a fairly good idea of how our Pearl River housing picture for the year 2013 is likely to end up.

“The housing recovery that started earlier in 2012 continues to gain momentum,” according to CoreLogic’s Chief Economist. The monthly data report covered final national numbers for October 2012 (a year-over-year rise of 6.3%) as well as a probable 7.1% increase

CoreLogic was also “seeing an ongoing strengthening of the residential housing market” as well as “improving buyer demand.” Pearl River housing watchers might have assumed that the aftermath of Superstorm Sandy would have put a big dent in the national outlook, but apparently that effect may be less than anticipated.

If CoreLogic’s take was not quite definitive enough to trigger an early break for the bubbly, there was additional news from the financial soothsayers. Seekingalpha.com stayed with its months-long view that “there are immediate long-term opportunities for homebuyers,” while Barron’s quoted RDQ Economics’ John Ryding’s pronouncement on the housing market: “the recovery is running ahead of our expectations…”

Meantime, the Wall Street Journal was blogging about the ‘Five Reasons Home Prices Have Been Rising’ – including favorable affordability, lowered levels of distressed sales, and rising rent levels. They also pointed to plunging inventories that “see more buyers chasing after fewer properties.”

Of course, the complete Pearl River housing picture for the full year won’t be known until December is in the books. But considering how last year has treated us so far, it might not be too soon to stash a bottle or two of the good stuff in the fridge after all! Call me for a chat…Marcella 845 544 4026!

New City Home Prices Leap

U.S. Revival Stands to Influence New City Home Prices

Home Prices, Building Numbers Startle Experts

Final Numbers Confirm U.S. Home Prices Leap

The truism has it that real estate is the most local of assets. If you exclude California-style earthquakes, the land a home is built upon tends to stay pretty much in one place. That being the case, New City home prices tend to reflect our local New City conditions: when business is popping and everyone feels confident about the future, New City home prices tend to move upward.

Even so, as the complete numbers roll in from last year’s national real estate market, anyone with a rooting interest in New City home prices has to be cheered.

The fact is, American home prices climbed 5.9% last year – the greatest yearly gain since 2006. Calling that only a ‘sharp’ rise is like calling the Super Bowl an ‘interesting’ football game. So, even though New City home prices reflect local conditions, that kind of jump indicates the kind of national movement that is bound to echo through every corner of the country.

The U.S. Census Bureau and the Department of Housing and Urban Development also report that new national housing starts rose in 2012’s final month to an annual seasonally-adjusted rate of 954,000 (way more than the experts expected).  It sounds like a big number, and it is -- an increase of 12% from the revised November rate of 851,000, and a gain of 36.9% over the previous year’s 697,000!  

The National Association of Homebuilders also reported a third consecutive six-year high in its builder confidence index. It’s still below the point NAHB considers builder “optimism” balances with builder “pessimism,” but moving strongly in the right direction.

Now that we’re at a point where we can look back over last year’s performance, it’s easy to look back and say “That year sure would have been a good time to buy or sell!” To me, it looks likely that this time next year, we’ll have more of the same.

If 2013 is the year you’re considering making a move, I would be genuinely delighted to put together a plan of action that fits your goals and your timetable.  I hope you’ll give me a call! Marcella 845 544 4026…riggsmarcella@gmail.com…marcellariggs.com

Buying a House Uses Pearl River Market Awareness

Bargain-Hunters Find a Pearl River Market That Isn’t Waiting

Buyer Beware: Strategies That Get You Nowhere

Anyone who is buying a house in Pearl River -- or even just checking up on the market -- is likely to find that some of the rules of the game seem to have shifted. Particularly anyone expecting to be deluged by the kind of amazing deals being offered in 2008 and 2009 should see what I mean.

As the latest housing statistics continue to paint an upbeat picture, at least when it comes to bargain-priced properties, the days of multiple bids and ‘offers over asking’ are back.  If you are weighing the advantages of buying a house in Pearl River before interest rates and prices rise in earnest, it should be useful to take a look at some strategies that work -- and some that virtually never work:

1)                  Blanket Low-balling – Running around writing up a bunch of low-ball offers is a surefire way to get yourself ignored, or worse, miss out on an otherwise great property. A better approach?  Work with a knowledgeable agent whose expertise in Pearl Riverneighborhoods will allow you to check on the most recent comps, then write a serious offer.

2)                  Dismissing Imperfect Properties – The degree of your success in buying a house in Pearl River can depend on starting out with a reality check: only very rarely is a property totally perfect for you and priced absolutely right.  

3)                  Highest and Best - Unfortunately, the tempting low prices listed for some Pearl River bank-owned homes also means that it’s increasingly common to encounter the dreaded “multiple offer situation.”  If you find yourself there, be prepared to submit your highest and best offer first -- you may not have another shot.

This changing market doesn’t mean we are headed into the kind of fever-induced ‘bubble’ we saw in the mid- 2000’s.  But for those seeking a deal and waiting for the bottom of the market before buying a house in Pearl River, the market does not seem to be waiting. 2013 is clearly the time to jump in! Give me a call…soon!!! 845 544 4026...Looking forward to hearing from you…Marcella.

Selling a Pearl River House

Selling a Pearl River House Starts with Some Basics
Profit from Early Decisions When Selling a House
Selling a House Means Nimble Decision-Making

According to a recent survey, nine out of ten REALTORS® believe that clients who make improvements before selling a house are more likely to secure a successful sale. Why, you may wonder, would anyone take the trouble to run a survey to discover anything that obvious? Possibly because of a follow-up question Realty Times came up with: 65.9% of real estate agents – virtually two out of three – agree that a common mistake among homeowners is not making "the right" home improvements for the local market.
Uh-oh! Remodeling in the wrong direction can cost you twice! If it’s such a common mistake, it’s safe to say it might be best to consult an agent before rolling up your sleeves (or opening your checkbook). Active Pearl River agents are constantly noting what features are popular with prospective buyers and which improvements are making a difference in today’s market. Knowing what sells -- and why -- is fundamental information when home improvement decisions are about to be made.
Also important is the changing nature of an effective marketing roll out. Yesterday’s sign on the front lawn and paragraph in the newspaper are no longer sufficient. Pocket listings, preview open houses, and social media promotion are all elements that now can be brought into a multi-tiered marketing plan geared to create awareness (“buzz”) around a property’s debut.
Yet, the new market retains at least one unchanging fundamental. To achieve the highest return when selling a house in Pearl River, it has to be priced right. Real estate commentator Barbara Corcoran puts it succinctly: “You could spend all the money in the world fixing up and marketing your house,” she says, “but the wrong price on the right house guarantees no sale.”
If you are thinking of selling a house in Pearl River this winter, I’m here to help you meet that goal. Contact me to get started on a marketing plan that sets it in motion! Call me anytime on 845 544 4026 or email me at riggsmarcella@gmail.com

Unexpected Bargains Test Pearl River First-Time Buyers

First-Time Buyers: Line Up Those Ducks!

Unexpected Bargains Test Pearl River First-Time Buyers

Pearl River First-Time Buyers Need Advance Planning

It can happen when you least expect it: an opportunity unexpectedly opens up – and you suddenly realize that the time to become a homeowner is here! It may happen when the landlord of the Pearl River home you’ve been renting suddenly decides it’s time to sell. Or, during a search for a rental, you happen upon a new Pearl River listing that’s such a bargain you’d be crazy not to snap it up!

For Pearl River first-time buyers, unexpected opportunities like these may be the first time they seriously entertain home ownership. If that’s the case, they may well be disappointed.

The fact is, the time for first-time buyers to start planning is well in advance.

Job One is to take very seriously the sometimes arbitrary-seeming Rules of the Road for credit scoring.  Money Magazine recently reported the average FICO credit score for denied conventional loan applicants was 729…a pretty darn good score for anything else. The score on approved loans was 762 -- after an average 21% down payment! 

Successful first-time buyers have kept their options open by lining up their ducks well in advance -- completing at least two mandatory steps. For anyone who hasn’t done so, right now would be the appropriate time to start!

1.      Get your accounts in order. If it comes time to pull the trigger, every bank will look closely at every bank account you have. They look for “seasoned” funds, meaning cash that has been on hand for at least three months (sometimes six), untouched.   First time homebuyers will have established the total amount needed for a down payment -- or have a clear trail of the origin of the assets they will sell to get it.

2.      Check your debt.  Banks are looking for a debt-to-income ratio of no more than 33%.  If you got a little too festive with your credit cards during last month’s holiday season, start paying down those balances.

Buying a first home is an exciting decision that can be as fun as it is stressful.  Having prepared in advance will accentuate the fun part , just as having the right agent by your side will, too.  If and when the opportunity to become one of our Pearl River first-time buyers presents itself  -- or even if you have any questions about how to prepare -- give me a call anytime on 845 544 4026!!!

New City Housing Outlook Key to Rent or Sell Decision

Area Homeowners Ask: Should I Stay or Should I Go?

New City Housing Outlook Key to Rent or Sell Decision

Evaluating Your Rent Vs. Sell Decision

The real estate climate forecast for the coming year is partly sunny -- and warming up!  Yet, with no double-digit appreciation in sight, some who plan on selling a home in New City face the very practical question: is the winter of ’13 the right time to sell?

For those who stand to make a gain from selling, the decision boils down to convenience. Whether sale prices rise or fall, the cost of their next home will probably move in the same direction.

But what about those who suspect that the overhang from the financial crisis will probably result in some degree of net loss? How do they decide whether it makes more sense to sell and take the loss, or to rent -- and wait? Emotions aside, the financial impacts can be examined. If you are considering selling a home in New City and don’t stand to make a profit, asking yourself some questions can help reach a decision:

·        Can I afford to take a loss?  If you might need cash from your current property to purchase another, waiting is likely to be the safest course.

·        If I have to take a loss, will there be a tax advantage to doing so in 2013?  If you expect to sell a business or come into any other form of extra income during this tax year, check with your CPA to see if this year’s the right time.

·        If I choose to rent my home, am I prepared to be a landlord?  Are you up-to-date on applicable federal and local fair housing ordinances and tenants’ rights issues?  If not, it’s practical to factor in the cost of a property management agency (usually 7 – 15%).

·        Am I prepared to wait it out?  If you decide to rent a New City home and wait for the market to catch up to your profit goals, are you prepared to wait X years before selling? On-again off-again selling decisions can result in high tenant turnover -- which eats into your bottom line. 

Selling a home vs. renting it out is a decision only you can make -- why starting with accurate information is so important. I will be happy to meet for a confidential consultation on the value of your New City home in today’s market. It is a very good place to start. Give me a call on 845 544 4026 & we’ll have a chat