Huntington, NY

9 Buyer Traps and How to Avoid Them

"A systemized approach to the home buying process can help you steer clear of these common traps, allowing you to not only cut costs, but also secure the home that's best for you."

No matter which way you look at it, buying a home is a major investment. But for many homebuyers, it can be an even more expensive process than it needs to be since they fall prey to at least a few of the many common and costly mistakes which trap them into either:

* paying too much for the home they want, or

* losing their dream home to another buyer or,

* (worse) buying the wrong home for their needs.

A systemized approach to the home buying process can help you steer clear of these common traps, allowing you to not only cut costs, but also secure the home that's best for you.

9 Buyer Traps

This important report discusses the 9 most common and costly homebuyer traps, how to identify them, and what you can do to avoid them:

1. Bidding Blind

What price should you offer when you bid on a home? Is the seller's asking price too high, or does it represent a great deal. If you fail to research the market in order to understand what comparable homes are selling for, making your offer would be like bidding blind. Without this knowledge of market value, you could easily bid too much, or fail to make a competitive offer at all on an excellent value.

2. Buying the Wrong Home

What are you looking for in a home? A simple enough question, but the answer can be quite complex. More often than not, buyers have been swept up in the emotion and excitement of the buying process only to find themselves the owner of a home that is either too big or too small. Maybe they're stuck with a longer than desired commute to work, or a dozen more fix-ups than they really want to deal with now that the excitement has died down. Take the time upfront to clearly define your wants and needs. Put it in writing and then use it as a yard stick with which to measure every home you look at.

3. Unclear Title

Make sure very early on in the negotiation that you will own your new home free and clear by having a title search completed. The last thing you want to discover when you're in the back stretch of a transaction is that there are encumbrances on the property such as tax liens, undisclosed owners, easements, leases or the like.

4. Inaccurate Survey

As part of your offer to purchase, make sure you request an updated property survey which clearly marks your boundaries. If the survey is not current, you may find that there are structural changes that are not shown (e.g. additions to the house, a new swimming pool, a neighbor's new fence which is extending a boundary line, etc.). Be very clear on these issues.

5. Undisclosed Fix-ups

Don't expect every seller to own up to every physical detail that will need to be attended to. Both you and the seller are out to maximize your investment. Ensure that you conduct a thorough inspection of the home early in the process. Consider hiring an independent inspector to objectively view the home inside and out, and make the final contract contingent upon this inspector's report. This inspector should be able to give you a report of any item that needs to be fixed with associated, approximate cost.

6. Not Getting Mortgage Pre-approval

Pre-approval is fast, easy and free. When you have a pre-approved mortgage, you can shop for your home with a greater sense of freedom and security, knowing that the money will be there when you find the home of your dreams.

7. Contract Misses

If a seller fails to comply to the letter of the contract by neglecting to attend to some repair issues, or changing the spirit of the agreement in some way, this could delay the final closing and settlement. Agree ahead of time on a dollar amount for an escrow fund to cover items that the seller fails to follow through on. Prepare a list of agreed issues, walk through them, and check them off one by one.

8. Hidden Costs

Make sure you identify and uncover all costs - large and small - far enough ahead of time. When a transaction closes, you will sometimes find fees for this or that sneaking through after the "sub"-total fees such as loan disbursement charges, underwriting fees etc. Understand these in advance by having your lender project total charges for you in writing.

9. Rushing the Closing

Take your time during this critical part of the process, and insist on seeing all paperwork the day before you sign. Make sure this documentation perfectly reflects your understanding of the transaction, and that nothing has been added or subtracted. Is the interest rate right? Is everything covered? If you rush this process on the day of closing, you may run into a last minute snag that you can't fix without compromising the terms of the deal, the financing, or even the sale itself.

Please call or email me if I can answer any questions or provide more info. I am standing by to assist you when you're ready to purchase your first or next home.

Paul Dougherty

Realty Executives North Shore

631-697-5777 paul@callpaulhome4sale.com http://www.CallPaulHome4Sale.com

FICO, FICO, FICO - Know Your Score. Improve Your Score, Monitor Your Score...

My focus is working with first time home buyers and I always take the time to thoroughly discuss and review the steps a client needs to implement in order to build a successful home buying plan.

The first step you need to take towards home-ownership is getting pre-approved for a home mortgage. Which lender to choose is an important decision, and like most big (financial) decisions you should seek out advice from trusted sources.

No matter the lending institution you work with, your FICO score speaks volumes about you and your credit risk.

Most people have heard the term FICO - what does it stand for and how did it get started, let's ask Wikipedia - Hey Wiki What's a FICO?

First time buyers are inundated with lots of advice from countless sources. My advice to building a successful plan and approach to buying a home is not unique; in fact I teach what I've learned. My value is that I take the extra time often needed to educate and counsel new buyers about the importance of knowing your FICO score and what it means and what they can do to improve it.

Many share the dream of home ownership; home shopping on line and in person (open houses) is fun and exciting. And while having a specific wish list of must haves and type of home, area and amenities you want is helpful and necessary, knowing what you can afford and more importantly knowing what the lender says they will loan you is essential and should be the starting point of turning your dream into a plan and into a reality.

The first step in getting pre-approved for a home mortgage is finding out what your credit report says about you, and the level of risk that you pose for your mortgage lender.

You may not know it, but, you can monitor your credit history (free of charge) on an annual basis through:

https://www.annualcreditreport.com/cra/index.jsp

And any/all of their three participating credit-reporting companies:

1) Experian: http://www.experian.com/,

2) Equifax: http://www.equifax.com/,

3) Transunion: http://www.transunion.com/

You are allowed to down load your current credit report once every year from each company listed above. All without any charge to you what so ever.

For an additional one-time charge of $6.00 to $10.00 (depending on which one of the companies you use) they will give you your current credit score (which usually includes information from as little as a week or two ago).

And, for about $30/month you can have unlimited access to both your credit reports and credit scores from all three companies.

Knowing your FICO and keeping it strong - It is the step that you should always take first.... when you decide to purchase a home, or any other large purchase where a loan and interest rate are involved.

Please feel free to give me a call @ (631) 697-5777 or Email me at

paul@callpaulhome4sale.com

For answers to any/all of your Real Estate questions!!

"Call Paul Home 4 Sale" ~ "I can help you build a plan"

I absolutely believe in SPONTENAITY! I DO NOT, however, believe in "Coincidences." I know I wouldn't "come across" some of the wonderful finds if I wasn't spontaneous. As a Feng Shui Consultant in Long Island and New York City, I am often able after a Feng Shui consultation to enjoy MORE of the day in whatever area I happen to find myself in. I have passed this quality on to my daughter and fellow Feng Shui Consultant Laura Cerrano--in short, we work well together and "play" well together!

After a Feng Shui Consultation on Sunday in the gorgeous town of Huntington Harbor in Oyster Bay Long Island, we decided to stop in Huntington first and then on to the camp where Laura had been to as a child and now is a counselor. It is West Hills Day Camp that both she and my son Adam attended for years-although I had visited most of the camps on Long Island when I walked into West Hills I was instantly enchanted---and still am! But that's in another post (and I DO have a point here :).

While passing the camp we saw there were people and decided to stop in. We found the owner and asked if we would be permitted to take photos and do a blog (which is upcoming) about West Hills and he graciously agreed. It was open on Sunday in support of a candidate and the band that was playing was phenomenal.

John Hall on Right

A GREAT concert--he's still the one : )

I was a little taken aback, however, when the leader of the band started speaking of "people stealing others' works-written or otherwise" and that one of HIS songs had been stolen. He said he finally had to send a Cease and Desist letter. I felt like he was looking at and talking to me after my post: Not "JUST" Plagarism Anymore--I've Become "The Blog Watcher" by Feng Shui Long Island & New York This was the lead singer from the 70's band ORLEANS and the song he was speaking of is "Still The One." His name? John Hall---although they don't look the same, apparently that's who it was! Before he became a Congressman he was the co-founder and lead Singer of ORLEANS.

Don't lose your spontenaity....if you don't have it, try it. We would have missed a wonderful concert!

John Hall is now a Congressman--and finally had to send a cease and desist to McCain to stop using his song "STILL THE ONE." McCain prompty went on to use ANOTHER popular song--

**Carole Provenzale has been a Certified Feng Shui Consultant since 1997 and is the Founder of Feng Shui Long Island. Along with Feng Shui Consultant Laura Cerrano, on site Feng Shui Consultations provided for New York City (Manhattan) and all of Long Island for Homes, Apartments, Businesses, Corporations, Renovations and New Construction. Workshops and lectures are also provided for small and large groups and companies. Distance Consultations always available as well. Please visit http://www.FengShuiLI.com

On a recent Feng Shui Consultation on Long Island I was asked a question by my clients that I have been asked over and over in the past....Most people that call me in for a consultation are particularly sensitive to ENERGY. The FEEL it and it causes great distress. They feel it in their co-workers, their "friends" and even their own family.

This Feng Shui Consultation was in the lovely town of Huntington Long Island New York where the couple has purchased a lovely, small home that they adored. They had brought the furniture and accessories from their previous home and had decided for now to keep it while eventually incorporating new pieces when they could afford it.

I liked the way they had temporarily set it up...it allowed a good flow of Energy into the space, kept their health area clear and we discussed what the home WAS lacking which were the elements. We also discussed the types of furniture she should look for when she is able to afford new items. She specifically asked me about a glass table and in her particular space, in my opinion, a round glass table would give the room a more open and airy feeling then the heavy furniture they currently owned.

Some of her questions were so specific, I finally had to ask WHY she was asking them. She then told me that her family was extremely critical of the way she had placed her furniture---which was just the beginning. Her family was actually very critical of EVERYTHING, she said, from her job to her marriage. It was causing her such emotional unhappiness, I asked her to back off a bit from them.

It isn't easy to tell my clients this, particularly when it's family but sensitive people can become PHYSICALLY sick when they are surrounded by negative energy...and nothing is more important then your health. We enhanced her CAREER area to help her find a different position as well to get her out of her job and into a better atmosphere.

It's sad to say that some people are going to be critical of you no matter WHAT you do. And it seems to become worse when they see they can have quite an effect on you. You must take your life and control back from these people. Unfortunately, with family is can be more difficult but not impossible. You are simply less available. After a while, you may notice a shift-they are so happy when they finally DO see you, they stop criticizing and are just happy to have you around.

If any of you are experiencing these feelings from others, take a well needed step back. Don't fall into the ‘guilt' people are happy to throw our way. Your INACTION, in this case, becomes ACTION and gives you your power back, something you never want to lose.

Copyright A Feng Shui Consultation in Huntington Long Island New York by Carole Provenzale-Feng Shui Long Island & New York

**Carole Provenzale has been a Certified Feng Shui Consultant since 1997 and is the Founder of Feng Shui Long Island. Along with Feng Shui Consultant Laura Cerrano, on site Feng Shui Consultations provided for New York City (Manhattan) and all of Long Island for Homes, Apartments, Businesses, Corporations, Renovations and New Construction. Workshops and lectures are also provided for small and large groups and companies. Distance Consultations always available as well. Please visit http://www.FengShuiLI.com

Hello Friends The Long Island Board of Realtors (LIBOR) recently released the 2nd Quarter sales summary. I thought I would share the info about the towns I service. While sales price and volume is down in many markets, I am encouraged by some of these numbers that show price is actually up over last year in Greenlawn, Northport and East Northport. Also total home sales is up in Centerport. I am also encouraged to hear some good news about the housing market starting to trickle through the media wires. Let's keep the good news and momentum building.

If you're looking to buy or sell in Huntington, Northport, Greenlawn, Centerport, East Northport, I'm standing by to help.

Paul Dougherty
Realty Executives North Shore
631-697-5777
paul@callpaulhome4sale.com
http://www.CallPaulHome4Sale.com

2008 Suffolk - 2nd Quarter 2008

(Centerport, Greenlawn, Huntington, Northport, East Northport)

Zip Code 11721 11740 11743 11768 11731

Average $639,800 $619,000 $769,200 $816,200 $527,400
Price

Price Change -3.95% 27.21% -2.44% 6.99% 6.74%
(1 Year)

Total # Homes Sold 13 11 89 52 37
(Quarter)

% Change in
# Homes Sold 8.33% -35.29% -20.54% -20.00% -27.45%
(1 Year)

Average Days on 136 84 124 136 121
Market