The 7 Secrets to Getting Your Offer Accepted!
"Do we have a chance?"
"What is the probability of getting our offer accepted?"
Those are common questions a lot of home buyers ask me.
And I tell them:
"You have a 20% chance."
50%
80%
And sometimes 100%.
There are strategies, tactics, and Secrets to getting your offer accepted.
I actually created a program that tells them their probability.
It will tell them their probability score and what to do to improve it.
But many home buyers don't want to listen.
They think they know better.
They listen to their friends and family.
And then they "lose" over and over again.
Then finally, they listen.
They start to believe me.
They apply the strategies I suggest.
And guess what?
They become homeowners.
Just like that.
It's like magic.
So, to get your offer accepted this holiday season, check out this FREE report >>>> https://bit.ly/3xPx6YQ
**Only Available to those home buyers NOT working with an agent**
Happy Holidays!
How Much Money Do I Need to Purchase a Home?
Most of the clients I help need to finance their home purchase. Even though I always recommend that you pay “cash” if you are able, in reality, that is not what many home buyers are able to do, especially first time home buyers.
I always recommend that you should obtain a “pre-approval” letter from a “local” lender or bank before you search for a home.
Many people I meet do not always understand the “true” cost to buy or finance a home in Central New York, and many “out of the area” lenders miscalculate some of the costs involved.
Calculating your true monthly mortgage payment is very important. Many online calculators on sites such as “Zillow” are not accurate when used incorrectly, as many home buyers do calculate the correct property tax rates or other fees associated with the mortgage process.
A “local lender” should be able to provide you with a breakdown of your monthly mortgage payment.
For a $100,000 home using a 30 year – FHA mortgage:
$3,500 as a down payment.
$3,800 prepaid property taxes. (The estimated yearly property taxes on a $100,000 home in Onondaga County is about $3,800.00, roughly 3.8% of the purchase price, so if you do not have a 20% down payment, you will have to escrow your property taxes and prepay your property taxes as part of your closing costs. This is one of the reasons why closing costs are higher in this area.)
$700.00 homeowners insurance (estimate)
$1,000.00 Attorney fees (estimate)
$450.00 Appraisal fee (estimate)
$800.00 Loan origination fee (estimate)
$1,000.00 Mortgage insurance premium (estimate)
To purchase a $100,000 home in The Greater Syracuse NY area with an FHA loan you may need $10,000 to $12,000 in total costs. (estimate).
What if I do not have the money for closing costs? That is a great question, and under FHA loan guidelines, you can add up to 6% of the approved closing costs to your mortgage.
So, in this example, you could add
Onondaga County NY Real Estate Market - Part 250 - “Airbnb?”
So far this year I have listed 3 homes that the sellers used as a Airbnb.
And just the other day a buyer called me to buy a home so she could rent it out through Airbnb.
For the record, I don’t rent out any properties through Airbnb.
However, I do own rental property.
This home buyer asked me if renting a home through Airbnb would be a good investment.
And here was my answer without giving her investment advice.
That was for her to figure out once she had the data.
The house was $170,000.
Assuming the following;
20% down payment + closing costs = $40,000 ( initial investment )
Loan amount = $136,000
Monthly payment with property taxes and insurance = $1,100 ( estimate ) 30 yr loan at 3%
There are just under 300 homes in the Greater Syracuse NY area that are used for Airbnb rentals.
The average daily rental rate is about $100.00 for a home of this size and location demographics.
Let's assume a occupancy rate of 50%.
Therefore, one could expect $1,400 per month in rents or $16,800 per year (+/-)
This is before the 3% Airbnb fee, maintenance on your property, utilities, etc.
For this example, you would only “break even” based on these assumptions.
However, I did some research and I have found some properties operating at a 75% occupancy rate at an average daily rental rate of $175.00.
It really depends on the property type and where it is located.
So is buying a home to rent it out as a Airbnb a good investment?
That's for you to decide after you run a thorough analysis.
But don’t always believe what you see and hear from others.
Do your own math.
Have clear goals.
And prepare for the worst case situation whenever you invest.
If you want to purchase an investment property, give me a call at 315-882-6610
Onondaga County NY Real Estate Market - Part 248 - “Daydreaming”
I got a call this morning from a home buyer that saw a home online that really interests him, especially that the payment was lower than his rent.
So after talking for a few minutes I asked him who he got his pre approval from.
He told me that he saw this house which prompted him to call about it.
And that he was not “technically” looking to buy a home.
Which is common among 80% of people that look online.
Most are not really “in the market” to buy a home.
Shocking but true…
So he says to me, “Can we see it?”
“Yes, but you will need to get a pre approval first as all offers are due this weekend."
I ask him some probing questions and based on his answers I determine that he is not ready to buy this home.
He thought he could afford the house, as Zillow stated the monthly payment was only $900.00, however, it was really $1,300 a month when you added in property taxes and insurance.
He was upset, but glad I explained what his actual payment would probably be.
I provided him with a plan so he will be better prepared financially to buy a home in the future.
Most people daydream about buying a home.
And most times their eyeballs exceed their budget, meaning they like homes that they see online that they can’t truly afford, which is typical.
It’s OK to daydream and look online.
Most people do it.
However, most people don’t know the truth about buying a home.
They don’t know the true cost of ownership.
Those online calculators are not always accurate.
That's why you should always talk to someone that knows better.
Someone that can take you from daydreaming back to reality without entirely crushing your dreams.
Get your dreams back on track by calling me at 315-882-6610
Onondaga County NY Real Estate Market - Part 246 - “I Can Sell it Myself”
The other day I got a call from a home buyer that wanted to see one of our listings.
During our conversation, she told me that their purchase was contingent on selling 2 homes.
She told me that they had a family friend who was an agent, but they were going to sell both homes “By Owner.”
They felt the market was hot and they did not need an agent.
When we met them at our listing, we told them that we already had multiple offers way over the asking price.
They were shocked.
We told them that since they were “contingent” on selling 2 homes, it would be very difficult to compete. Especially if they were selling themselves without an agent.
My advice was to list both homes now, and make any offers they receive “contingent” on finding suitable housing.
That way they will have a better chance of getting an offer accepted on a home they want to buy.
And to list both homes with an agent, not by owner.
The information probably fell on deaf ears as I never heard from them again.
Sure anyone can sell their home themselves especially in this market.
However, strangely enough, there are less homeowners today that choose to sell by owner.
Some of the reasons are that most home sellers don’t know how to effectively price their home.
Most don’t know how to structure multiple offers.
And most don’t know the overall process.
You may have had a bad experience with an agent in the past.
You may think the market is hot and you don’t need an agent.
Or you may think you will save a bunch of commission by not listing with an agent.
I get it…
The bottom line is that an experienced and great agent will always make the process easier with less problems.
And probably get you more money than you thought possible.
Don’t go it alone.
Your choice.
But the best choice is to call me at 315-882-6610 for help or check out our programs >>> https://www.c
Onondaga County NY Real Estate Market - Part 245 - “Highest and Best” or “Best and Final?”
I say To-May-To
You say To-Mah-To.
But really, is there a difference between Highest and Best and Best and Final?
Well, yes and no.
When there are multiple offers on a property, agents will let all buyers know that the seller would like “Highest and Best” offers.
Which means that the seller is looking for the Highest offer with the Best terms.
However, some agents also use the phrase, “Best and Final.”
Which can be interpreted as the seller wants the Best offer and all offers are final. No negotiations. But in this situation, does best mean the highest price?
To me, it would be more clear if home sellers directed their agent to be transparent to other agents and their buyers.
Or if agents advised their home sellers what to do.
In a perfect real estate multiple offer situation the following should happen.
If a home seller receives multiple offers, they should;
Negotiate each offer independently.
Or
Let both buyers know to submit their highest, best, and final offer by a particular date and time.
And let all buyers know the terms they prefer.
That is, no home inspections, or radon tests.
Closing date criteria.
Appraisal addendums.
If they will accept escalation clauses.
The starting price. ( make offers over “X” )
and so forth...
What some buyers don’t understand, it is not always about price.
Terms play a major role in getting your offer accepted or not.
It’s really about risk mitigation.
That’s why “CASH” is king in most offer negotiations.
As there are less problems that could arise.
No bank inspections or an appraisal to deal with.
So there you have it…
The next time you hear “Best and Final or Highest and Best” ask what the seller is looking for.
That question alone may be the key to getting your offer accepted.
Tomāto Tomäto
And don't forget to call me at 315-882-6610 to start the home buying
Onondaga County NY Real Estate Market - Part 245 - “ Escalation Clauses - Multiple Offers ”
If you are looking for a home right now, you probably know a thing or two about multiple offers.
Most good homes that are priced right will receive multiple offers.
So why do you lose over and over again?
Is it your agent's fault?
First off, it’s nobody's fault.
There is only one winner.
You just have to know the rules of the game.
And as a home buyer you have to decide if you want to play.
Your agent can not force you to do what you don’t want to do.
If they do, you will probably end up having “Buyers Remorse.”
When I am working with a home buyer, I make suggestions to them.
I tell them their odds of getting their offer accepted based on what they tell me they want to do.
I advise them on how they can increase their odds.
Which brings me to escalation clauses.
Personally, I don’t recommend them in every offer situation.
I know a lot of agents will disagree with me, but I think that they can limit your chances of getting your offer accepted.
Here's the truth;
Home sellers want to get the most money for their home with the best terms.
They don’t want to feel cheated in any way.
They don’t want anyone to game the system.
If they list their home for $200,000, and one buyer offers $225,000, but another buyer offers $200,000 with an escalation clause up to $225,000, more than not the seller will take the first offer.
Why?
Because the first buyer showed that they were willing to pay a higher price right out of the gate.
I always tell my clients to initially make an offer over the asking price if they want to use an escalation clause.
Or don’t use one at all.
Rather, just go all in.
Especially in this market.
Overpaying for a home is relative in this market.
Remember market value for a home is what a willing, ready, able, and financially approved buyer will pay.
So think about your strategy before you submit that nex
Onondaga County NY Real Estate Market - Part 244 - “ Buy the Dip ”
Buying a home can be downright frustrating.
Just when you thought it was getting easier.
You listened to the news that the market was cooling and inventory levels were rising.
You have hope that your offer will get accepted.
But the opposite is happening.
The market is not slowing down.
One by one your offers are getting rejected.
Either you don’t have enough of a down payment.
You don’t want to waive home inspections.
Or you can’t pay all cash.
I know you just want to throw in the towel and give up.
Just hold on for a second.
It’s almost October.
Soon it will be Halloween, Thanksgiving, Christmas or whatever you celebrate, then New Years.
And real estate typically slows down a bit.
It “dips.”
Which makes it the perfect time to buy.
Less buyers to compete with.
Which means more opportunity.
So don’t give up now.
Look forward to apple picking and smashing pumpkins.
Leaves changing.
Slipping and sliding on black ice.
Cinnamon spice.
And everything nice.
But above all, look forward to getting a slice.
A slice of the American dream.
Call me at 315-882-6610 to get your piece!!!
Onondaga County NY Real Estate Market - Part 243 - “ I Have an Agent, But…”
A day does not go by where someone texts, emails, or calls me to tell me that they already have an agent, but…
Here are my top 10 phrases consumers say all the time;
“I have an agent but can I PICK your brain?”
“I have an agent but can you SHOW me the property?”
“I have an agent but can I ASK you a few questions about your property?”
“I have an agent but THEY are on vacation.”
“I have an agent but I CAN’T get a hold of them.”
“I have an agent but WANTED to get your opinion.”
“I have an agent but can you MAKE the offer for me.”
“I have an agent but I am CURIOUS if they priced my property correctly?”
“I have an agent but LIKE to use your website to look for homes.”
“I have an agent but I want to KEEP my options open.”
Now there is nothing wrong with having an agent, you should!
But be loyal to your agent.
Trust your agent.
Make them your go to person.
You should not be afraid to ask them any questions.
They are your agent for a reason.
Most times it only complicates matters when you reach out to another agent, unless you are thinking about making a switch.
Like most relationships, agents want exclusivity.
You should also want the same from your agent.
Your agent actually loves when you say; “I have an agent.”
Period.
No Buts.
That’s loyalty.
But call me if you don't have an agent and need help!!! 315-882-6610
Onondaga County NY Real Estate Market - Part 242 - "The Process"
Buying a home can be confusing.
Most home buyers want to know how to start the process.
The first step is getting a copy of this book.
But, if you have a relationship in any shape or form with another agent, do not claim this book.
This is only for buyers that are not working with agents.
** Also: NO REAL ESTATE AGENTS **
But, once you read it and apply what I taught, Share it with a friend that also needs help buying a home.
Also, when I make revisions to the book, you will automatically get a new and improved copy.
And I will share other housing information with you, such as "housing grants" or "1st time home buyer savings and credits."
Anyways... Click Here >>> http://bit.ly/2XuXgPr >>> to get your limited copy!
Claim your copy now.
You won't regret it.
Onondaga County NY Real Estate Market - Part 241 - "No Passport, No Showing for You"
So it happened for the first time, a home seller asked me this question;
“Bob can I limit showings to only those buyers and their agents who are fully vaxed?”
I told her, “Of course, that is your right.”
However, some agents and their buyers will not want to supply that information which is their right, and they may not show your home.
Which brings up some great questions.
What if the buyer will supply the information, but their buyer's agent will not?
I guess the buyer's agent could always wait outside… but who would enforce that?
It could get complicated.
Some buyers get offended when agents and sellers ask for a pre approval before they are allowed to see the home.
But it is the seller’s right.
Until proven otherwise.
Personally, I see this happening more and more if things don’t get under control.
What do you think? Without getting too political.
Call me to discuss and list your home on the market to get the best price or take our CASH offer to sell with less hassles... Call or TEXT me at 315-882-6610
Onondaga County NY Real Estate Market - Part 240 - "Where Are All The $80,000 Houses At?"
Not too long ago, I remember Cape Cod style homes and small Ranches being priced at $80,000 in most areas of Onondaga County.
Central NY was always known as a place where you could buy a good house under $100,000.
But in the past few years, that has all changed.
If you are a home buyer, you can blame it on the pandemic.
Well sort of…
Before the pandemic the median home price in Onondaga County was around $150,000.
Now it is creeping up to almost $190,000.
A 20%+ increase in many areas.
Yet, I still have many home buyers that think there are abundant homes for sale under $80,000.
The truth is that in the past 12 months, only 5% of all homes sold in Onondaga County were priced under $80,000. (non bank owned).
And if you don’t want to live in the City of Syracuse, that percentage dropped to 1%... Only 54 (non bank owned) homes sold in the past 12 months under $80,000.
But many home buyers that can’t get qualified for a higher amount are having a very tough time buying a home.
And most of the time, home buyers send me homes under $80,000 that need $40,000 in repairs, or are CASH only sales. Which won’t work for 99% of these home buyers.
Right now there are about 50 homes for sale in Onondaga County priced under $80,000. That's only 10% of all the current home inventory on the market.
My advice is to expand your home search to other areas such as Oswego and Madison County.
Think about buying a small condo or townhome.
Or wait and save up more money for a larger down payment.
It’s tough out there.
And may only get tougher.
But don't fret... give me a call or TEXT at 315-882-6610 to start the process of buying a home today!
The Onondaga NY Real Estate Market - Part 239 - “ATM’s are back”
The joke in 2008 when the real estate market crashed was that people used their homes as ATM’s.
Drawing insane amounts of money out of their homes.
Tapping into the so-called equity.
Well it’s happening again.
According to new studies, a whopping $63 billion in home equity was tapped in the second quarter of this year.
That’s the most since mid-2007.
And total homeowner equity hit a record $9.1 trillion.
Even those in forbearance have equity in their homes.
So what does this all mean for you and me?
First off, homeowners are using their houses and the equity they sit on to generate cash.
But when they do this, they are dangerously leveraging one of their greatest assets, and they are relying heavily on credit.
Or should I say debt…
That's why the economy appears to be stronger than it truly is.
That's why your neighbor is able to buy a new car.
Or go on expensive vacations.
They are “Tapping that A*S”
And it feels good of course.
If you follow me, I make a lot of real estate predictions.
When the timeline follows logic, I am usually correct.
However, the timeline is broken.
That said, when homeowners can get rich by tapping into their equity, it gives them a false sense of security.
Unless you sell your home, take the cash, and move to a less expensive place, or just rent, you really did not gain.
Otherwise, all you are really doing is shuffling around credit and debt.
Hoping home prices will rise even further.
But today is very different from the past.
It all centers around the pandemic.
And if home values keep rising.
We are just on an alternate timeline.
And for the first time, I am not sure where we are headed.
To find out how much equity you have in your home when selling, GO HERE>>> www.cnysold.com - I will send you cash offers and what it is worth on the open market.
Onondaga County NY Real Estate Market - Part 238 - "Browsing vs. Buying"
I got a call from a home buyer the other day.
She wanted to know if she could look at 5 homes this weekend.
After speaking for a while, I found out she was not pre approved , did not want to get pre approved and she did not really know her time frame for moving.
She was very “wishy washy.”
When I mentioned that she should get pre-approved in order to make an offer, she told me that she has no intentions of making an offer on any property unless it was her dream home and at a good price, but her intention is just to browse and look.
I politely told her that I don’t just show homes to people that are not pre-approved or don’t have any intention of buying.
However, we could meet at one property and take it from there.
She said she would get back to me...
I talk with a lot of home buyers who are in the browsing stage.
They have not yet been approved for a mortgage and they really don’t know what they want.
It can take time for someone to go from browsing online to looking in person.
The problem is that some buyers cross over to the other too quickly.
They want to browse in person.
They want to go look at homes in person every weekend, even though they have not gotten a bank pre approval or come up with a plan to move.
Now there is nothing wrong with looking at a few houses to meet an agent or see what you may really like.
However, it becomes a problem if you keep looking at homes in person without a pre approval and a definite plan to move.
Buying a home can take time.
It does not happen overnight, especially in this market.
And it’s always best to first establish your timeline.
Ask yourself this question;
If I found a house today that I love, do I have the money to buy it today, and can I move in 45 to 60 days?
If the answer is YES, then you are probably ready to start looking at homes in person.
If not, it may not be best to look at homes in person.
Onondaga County NY Real Estate Market - Part 237 - "Touch it, Smell it, Feel It" ( ** REPOST from April 2020 ** )
Back in 2006, I purchased real estate investment properties sight unseen.
Most were new construction or not built yet. and these properties were going to be used as rentals or "flipped" when completed.
It was an easy decision for me to buy sight unseen, as I was only concerned with my cash on cash returns. There were no emotional ties to them.
Again, in 2015, I bought a home "sight unseen."
It was located 12 hours away from where we lived.
I never walked through the front door.
With a floor plan in hand and my agent/friend guiding me, he "sold" me the house through facetime.
Done deal... Closed.
But, there was only one problem.
My wife was not on board with my decision.
As I mentioned earlier, I am somewhat of a "real estate unicorn," as to how I think about and buy homes.
I am very insensitive with no feeling in the matter.
I could live anywhere. Well, just about anywhere.
However, my wife does not buy like this.
She needs to touch it, smell it, feel it...
We did buy and close on that home.
After finally seeing the home in person, I liked it.
It had everything I could have asked for.
But, my wife secretly hated it.
Later on, she told me it made her sick. She felt like she was living in a basement and she hated the neighborhood.
So, we sold it...
And bought another home that we both liked. One that we actually, "Touched, Smelled, and Felt."
And a neighborhood that we actually drove through many times over the years, to get that "feeling."
Most people do not buy like me. Therefore, I never recommend any of my clients, buy a home "sight unseen." Even if they send their friend, relative, or spouse to check it out. All parties need to be present when buying a home.
Buying a home is not like buying a cabbage patch doll off Ebay.
You need to touch it, smell it, and feel it.
Regardless of how good the pictures are or how captivating the virtual t
Onondaga County NY Real Estate Market - Part 236 - "Truth in Advertising"
The other day a home buyer called and told me that they want to apply for the “No Money Down Program.”
She had seen an advertisement from an agent on social media.
I told her that there are “No Money Down” home loans out there.
The most common are VA ( Military Veterans loans ) and USDA ( U.S. Department of Agriculture mortgage program - Rural area loans ).
And there are other No Money Down loans through some local credit unions
So I asked the home buyer if she was a Veteran.
She said “No”
Then I asked if she was buying a home in a rural area.
Again, she said “No,” I want to live in a City area in Onondaga County.
So it looked like a VA loan and a USDA loan were out of the question.
She persisted and told me, “The ad said that this company and agent does USDA loans all the time and they can get me financed…”
So I told her the truth.
Less than 1% of all loans written in Onondaga County were USDA loans.
Yes, less than 1%...
Even in Oswego County, only 3% of all loans were USDA loans.
So the agent is not telling you the truth.
Here's the thing;
USDA loans are not bad loans.
But many people can’t qualify.
And most homes that you want to buy are not in the USDA acceptance zone.
They are not in the defined rural areas.
She was upset and felt this ad was misleading.
I told her it probably was.
She took the bait and was hooked.
But I told her that it was a good thing she called me to learn the truth about what is truly available to her.
Not to mention, she first needs to clean up her credit, set a budget, and still has 6 months left on her lease.
There is a lot of misinformation out there.
Mainly to get your name, email and phone number.
To get you in a funnel.
If you want the truth just call me, and 9 times out of 10, I will set you free and put you on the right path to home ownership.
Give me a call at 315-882-6610 to learn more abou
Onondaga County Real Estate Market - Part 235 - "Subject to Finding Suitable Housing"
Buying or selling a home can seem complicated.
However, when you know the rules of the game, it's actually easier than you may think.
I meet home sellers that become paralyzed when thinking about buying and selling at the same time.
They don't know the steps and it is very stressful.
If you want to buy a home, but you have to sell your home to qualify for the mortgage or you need the cash out of that home to buy another one, you are not alone.
There are many home sellers that want to sell but are overwhelmed on how to accomplish this.
The common objections I hear from home sellers is;
"Bob, I don't want to be homeless. What if I sell my home and can't find another one?"
Or
"I can't afford to carry two mortgages."
These are great concerns.
But there is a solution.
The answer is to list your home, and add a contingency subject to finding suitable housing.
That way you will not be homeless or be burdened with two mortgages.
The buyer of your property will have to give you 30 to 45 days or even longer to find suitable housing.
And if you don't find suitable housing you are not legally obligated to sell your home.
You may also have the option of extending the contingency if the buyer agrees.
There is no risk involved.
This is the best course of action, as attempting to buy a home contingent on selling your home is going to be difficult in this type of market.
Sell your home first.
Secure a good price.
Then you will know what you are dealing with.
It's not complicated when you have the right plan and understand the steps involved.
You can do this with my help!
Call me at 315-882-6610.
I will walk you through the process of selling your home and buying another one.
And don't forget about our CASH offer program
cnysold.com
Onondaga County Real Estate Market - Part 234 - "Agent Recommendations"
It always amazes me that some of my clients don’t trust the recommendations I provide to them.
I recommend a mortgage company, attorney, and home inspector to my buyer clients.
And an attorney to my seller clients.
Some take my recommendations, others don’t.
What they don’t always understand is that it can take years for a real estate agent to find reputable partners.
And when I recommend someone to my clients, it’s because they have been vetted by me.
I know how they work.
I know they will get the job done.
Now, no one is perfect and sometimes mistakes do happen, but 9 times out of 10, everything works out as planned.
When you choose a mortgage company or attorney on your own, you are basically on your own.
Meaning that your agent does not have a relationship with them so it will be harder for them to communicate effectively on your behalf.
Some people think that the agent has a financial benefit of referring someone to you.
Well that’s illegal and it rarely happens.
Personally, I don’t have any financial benefit with referring my clients to an attorney or mortgage company.
I just know the deal will go that much smoother for myself and my client.
Many agents will refer to more than one attorney, inspector, or mortgage bank as they don’t want to steer you in any way.
However, it is not illegal for them to recommend their best choice.
It's not a case of steering.
So if your agent refers someone to you, ask them how long they have been working with them?
If they tell you for a very long time, it's safe to assume you should probably take their recommendation.
It will save you troubles and stress in the long run.
Trust the process.
Get to closing with less issues.
Your choice.
And don't forget to call me at 315-882-6610 if you need help buying or selling a home!
"Final Walk Through Fiascos..."
I have had my share of final walk through fiascos.
Like the time my client and I were doing the final walk through the day of closing and the basement was flooded with 1 foot of water.
Even worse, when the pipes burst in the Winter and damaged the entire first floor of the house my clients were closing on, to the tune of $40,000.
And I can’t forget the time that we discovered a squatter living in the property.
But I think my all time favorite was when a bear was found its way into a home, and scared the sh*t out of me and my clients.
The purpose of the final walk through is to make sure the home is in the same condition as when you purchased it.
Most closings take about 2 months and anything can happen during that time.
Now, you are not probably going to have to deal with squatters or bears, but there could be a new condition issue that arises.
Or that the seller did not clean the house.
I have been in situations where the movers scratched the hardwood floors or damaged the lawn by driving over it in the rain.
Sometimes the sellers leave things behind, like old couches, mattresses, paint cans, or even a car in the garage.
It is always best to schedule the final walk through the day before closing, or better yet, the day of closing.
And don’t go at night.
You never know what could be lurking in or around the house, that could scare the “sh*t” out of you.
If you are thinking of buying or selling a home in the Central NY area, give me a call at 315-882-6610 or shoot me an email at [email protected]
Onondaga County Real Estate Market - Part 232 - "The Luxury Real Estate Market"
Some luxury home buyers ( those buying a house over $400,000 ) think that they can get an awesome deal right now in the market.
First off, there are no "Deals."
Even in the upper end of the market.'
Back in 2017/2018, the average days on market ( how long it took for a home to sell ) for a home over $400,000 was like 60 days, today it is less than 10 days.
Back then you could expect to negotiate 3 to 5% off the price, today your lucky to get it for asking price, unless the house is overpriced.
The average price per sq ft is hovering around $160.00, which makes it more attractive to buy a luxury resale than build new.
Building new can cost you well over $200.00 a foot and you still need to landscape your property etc...
Pending sales on homes over $400,000 are up 30% compared to just 3 years ago...
And to go along with that, there is 30% more luxury new construction inventory at a higher price due to rise in building costs, land costs, etc...
But we still have a very low inventory market in the "RESALE" upper end ( homes over $400,000 ).
Again, there are NO DEALS even in the upper market.
It's always interesting to me, what people say or think based on information they hear from their friends.
The market will always have bottom feeders, those that are looking for amazing deals in a sellers market.
The market will always have people that think they can sell high and buy low in a sellers market.
I always tell those people to wait it out. The market may change in your favor, but that's when all the bottom feeders come out to play, and then you have more competition from your own kind.
The bottom line is that there is never a good or bad time to buy a home unless you are an investor.
When you are truly mentally and financially able to do so, and you will live in your home for more than 5 years, that is the best time to buy, regardless of the market.
If you n
