Examine the market before putting your property on the market. A buyer’s market suggests that home prices and values are falling fast and that there are more homes on the market than usual. This is called a buyer’s market because the buyer has the upper hand in this scenario. There are many choices for the buyer in terms of properties as there are fewer buyers and more sellers. Additionally, home prices are dirt cheap. A seller’s market is exactly the opposite. There are more buyers and less sellers and property prices and values are usually increasing or at an all-time high. This scenario works in favor of the seller since there will be more buyers attracted to and potentially interested in a property. In examining the market, you know how to price your home, how to market your property and what to expect. In tough economic times like that of the current buyer’s market, you should have an idea of what to expect. Your expectations should mimic a scenario where your home may not sell immediately. You should also expect a lot of competition in your neighborhood or area as a lot of properties are on the market. You should also expect to price your home reasonably as home prices are dropping significantly. In examining the market and understanding reasonable expectations, you will know where to begin, thus saving time and money.

Examine the comparable properties. Comparable properties are other homes and properties that are for sale or that have sold in the area. These properties are similar in design and the number of bedrooms, square footage, and bathrooms. Take an open house tour of the comparable properties to receive any information in terms of pricing and to see the condition of the property. Once you are able to see the competition’s prices and condition, you are then able to appropriately price your property or make necessary adjustments so your property can compete within the market.

Once you know what you would like to get for your house, it is time to send out the word that you are for sale. Place ads in local papers and papers for surrounding communities. Take advantage of online resources to place virtual ads, including advertising on Facebook to people you know. Any chance you have to broadcast your home, take advantage of it. The more attention you draw to your home, the higher your chances are of finding that perfect buyer sooner rather than later.

Most buyers are only interested in purchasing homes that are clean and which have been cared for very well. Now is the time to fix anything that may take the value of your home down. Consider staging as well so buyers so what the home could look like if they were to move their own belongings in tomorrow. You want the home as nice as possible, as this will increase your chances of making the sale.

If you’re looking to buy or sell a home on Long Island, you should hire a Long Island real estate lawyer. Real estate lawyers can make sure the process goes smoothly.

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First you will want to make an offer; your realtor can help walk you through this, but you will need to learn a little bit about what you will need to do first. Any offer you make needs to include a complete description of the property as required by law, the amount of the down payment you will make, information about your financing, the proposed closing date and the date that you plan to move in, how long the offer is valid for and any other details or stipulations you want to include in the offer, such as a requirement for a home inspection. It is rare for your offer to be accepted outright, but it is a useful first step in the process of negotiation.

You will also have to prepare for a home inspection. This is needed to make sure that your potential new home is in safe and livable condition. The inspection will include the ventilation system, heating and cooling systems, the floors, plumbing, wiring and the roof, among other things. Ideally, the inspection will include every single part of the home. While you do not have to be there during the inspection, it is a good idea so that you can ask any questions you need to ask and see any problem areas personally.

After the inspector has documented any findings or lack thereof, you will be presented with the information as well. What happens next depends on your contract with the seller. If you have a contract where the property is an as is sale then you are pretty much stuck with the problems that the inspector may have found. If your contract is not an as is sale then you may add any findings to the stipulations or terms of the sale. In doing this, you can require that the seller make necessary repairs or that the findings are reflected in the price. For instance, if the roof is in disrepair and will cost $5,000 to fix, you may ask that the final sale price be adjusted for less than $5,000 so that you can make the repairs yourself.

Once you have completed these steps and you have reached an agreement with the seller, you are on your way to closing. Closing is a long process of singing documents and agreements that are signed by both the seller and the buyer. The process is just a legal transfer of ownership from one party to another. The process takes a few hours and at the end, you will have the keys to your new home.

If you’re looking to buy or sell a home on Long Island, you should hire a Long Island real estate law firm. A real estate attorney can make sure the process goes smoothly.

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What precisely is an Energy Star new home? Is all new construction “green” and good for the environment? How can I know whether the home that I’m buying is truly energy efficient?

The U.S. government has laid out requirements as to what constitutes an Energy Star rated home. This is relevant because buzz words such as “green” have no clear definition. Is a new homebuilder claiming to be green simply because he used energy-efficient lighting? Is it really “green” just because she added extra insulation? While these are certainly good things, it does not make your home “green.”

To be confident that your new home you’re looking at is really energy efficient, look for the official “Energy Star” certification that is only given to certain qualified houses.

Government rules at www.energystar.gov, identify the criteria a home must meet to become Energy Star qualified:

First, the house must make use of quality insulation that is both installed and inspected correctly. Insulation should be used in the walls, floors and attics to ensure even temperatures throughout the house. This will significantly lower energy use and provide greater comfort in your house as it maintains constant temperatures.

Second, the structure should be constructed with tight construction and well fitted duct work. Small cracks and holes can cause cold air in and warm air to escape, greatly reducing the energy savings of your new home. An opening no bigger than a quarter can be disastrous.

Next, the new home should employ efficient windows with protective coatings and superior window frames. The goal here is to prevent cold air from coming in in the winter and to keep the warm air out in the summer. High quality UV coating on the windows also reduces fading of furniture, carpets and paint in your new house.

Fourth, Energy Star rated appliances should be used in the home. These appliances use less electricity, oil and natural gas, and produce reduce waste compared to non-rated appliances.

Fifth, Energy Star rated appliances should be used in the new home, including compact fluorescent bulbs, fans, lighting fixtures, appliances, refrigerators, air conditioners, dishwashers and washing machines. The more energy efficient appliances you have, the greater your savings will be.

Finally, Energy Star contractors can go through a third-party verification process to assure that the homes built meet these standards. This is done to ensure that builders are reputable and deliver on their energy-efficient promises.

Craig Axelrod is one of the executives with Emmy Homes. Emmy is which is one of Long Island’s most established home developers. Emmy’s Commack real estate features luxury homes in Commack. Visit EmmyHomes.com for information.

categories: real estate,homes,houses,new construction,new homes,long island real estate,long island,property,build a house

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