About Suffolk County, NY

Baby Boomers Helping Their Children With The American Dream

Larry and Sheila, Realtors with Charles Rutenberg Realty are experiencing something here on Long Island that may be happening throughout the country.

Some Baby Boomer's are now willing to provide financial support and are helping their children or grandchildren buy their first home or condo.

They know that times are tough, and they want to make sure their family does not miss out on the opportunity to fulfill their dreams of home ownership.

Whether it's the help with a down payment, giving money towards the purchase or buying it outright for them, the trend seems to be ongoing.

Currently Larry and Sheila are working with a young school teacher whose parents are giving her the down payment for a co-op. We are also working with a couple who lost their jobs and are relocating back to Long Island and with the help of their parents, are buying a small house. Another first-time home buyer is moving from his parent's home. They are buying him a condo so he can finally be on his own. (Wonder whose benefiting more from this one!)

According to a survey from Better Homes and Gardens Real Estate, "one in five baby boomer couples have already given at least one of their children the means to purchase a home, either buying it outright, furnishing the down payment or co-signing the loan".

Of course, this isn't the case for everyone. Times are tough and Baby Boomers are having difficult times also. However, we are seeing a nice segment who are able to help their children with the American Dream.

We are hearing from the Baby Boomer parents that they feel they are in a better position to buy a home for their children and feel that home ownership is still one of the best investments you can make ~ and who knows, these Baby Boomers may be looking to their families for assistance someday also!

The importance of owning a home goes much further than the economy as it is still all about supporting the American Dream.

So whether you're a Baby Boomer, First Time Home Buyer or Seller, Thinking About Selling Or Buying A Home On The North Shore Of Long Island...Do Contact Larry And Sheila At 631-805-4400

If you would like to purchase a home for your children on Long Island, or sell the one you are currently living in, please contact LARRY AND SHEILA to help you with your Real Estate goals at 631-805-4400.

http://www.suffolkexperts.com

Email: sheila@suffolkexperts.com

HOW DO YOU "QUALIFY" YOUR BUYERS?....Or,...DO You Qualify Your Buyers?

Given the "no" answer that I have received from a number of agents it appears that there is woeful disregard for the act of qualifying a buyer. It surprises me completely that this important part of working as a real estate professional is overlooked or is not even a known CRUCIAL part of the interview of a buyer.

Today it seems that most agents do NOT qualify their buyers and in fact, they have no idea HOW to qualify them!

This post is written after I read one by Maria Morton: Showing Homes To Unqualified Buyers Just like Maria, I find that this is THE most important part of an interview of a potential buyer. Some agents feel it is too invasive; they feel embarrassed to ask these probing questions...That is too bad, because not only is it necessary, it is EXPECTED by any qualified buyer!

In my observations there is a danger in several ways in NOT qualifying a person who you will be working closely with. The most obvious one is the safety issue; the chances we take every day in the real estate profession include possible life-threatening encounters with someone that we know nothing about.

The next risk, and not as threatening personally but still a risk, is the "Time Waster", who has no regard for the work we do and no respect for our precious time. Not many, but some people just want to go into other peoples homes....and these Lookie Lous' will waste your time "Big Time" if you let them!

Taking all of this into consideration, and with Maria's post still fresh in my mind, I would like to give everyone here a list of the most important things we must ask a potential client/customer.

QUESTIONS YOU MUST ASK A POTENTIAL CLIENT/CUSTOMER:

• What do you do for a living?
• How long have you been looking?
• Have you bid on anything else?
• Have you tried to buy a house recently?
• If "yes" why did you not buy it?
• Will you be financing the house you buy?
• If "cash" is the answer, are you in a liquid financial position?
• If financing, how much will you be putting down and is it liquid?
• Are you pre-qualified for a loan to buy a house?
• If not, would you be willing to talk to a mortgage broker or bank to get pre-qualified?
• Do you know what your net-worth is? (This applies generally, to a high net worth purchase only)
• Can you substantiate any claim to net worth if a seller requires it?

NOTE: If these seem too invasive and if the potential client/customer baulks at answering any of these questions, you need to make note of the reaction..this reaction is crucial to identifying a potential problem--both for your safety and your valuable time! DON'T FALL INTO A TRAP BY NOT QUALIFYING A "BUYER"!

THESE ARE THE ACTIONS NEEDED BEFORE YOU LEAVE YOUR OFFICE WITH YOUR NEW CLIENT/CUSTOMER:

• Ask them if they are currently working with an agent other than you.
• If "yes", try to find out who and if the answer is I "was" working with another agent, ask why they are not still working with said agent.
• Do a Google search on the person you just interviewed. (Do this in private if you can find a place to do a search)
• If anything looks suspicious, put off working with them until you have time to do a back ground search.
• If you need a background search, there is a sight called "People Search" and for a few dollars, you can get the low-down on what is a possible problem with the individual.

Now, these may seem like probing questions and they are, but you need to take the stance of being the scrupulous individual you are if you want to get the respect you should get from a potential client/customer...

I always say that if the person knows you are REALLY interested and not just nosy, they are more apt to be forthcoming with the information you require.

The way you ask and what you ask will help them determine that you are a professional, not a snoop!

If they do not want to share any of this information with you, that is a sure sign that they are holding back needed information from you and you can choose whether or not you want to go forward.

THE WATCHFUL EYE OF QUALIFYING A BUYER IS A NECESSARY PART OF YOUR SUCCESSFUL BUSINESS!

FOR YOUR SAFETY AND FOR YOUR SUCCESS IN THE PROCESS OF SELLING HOMES, YOU MUST ALWAYS QUALIFY A POTENTIAL CLIENT/CUSTOMER!

Lindenhurst NY Short Sale Market Report - 2008-January 2012

The Lindenhurst NY short sale market in 2011 almost stayed the same compared to 2010. In 2010, 55 homes were listed as short sales and 30 sold. 50 homes in Lindenhurst NY were listed as short sales in 2011 and 33 sold.

2012 will be interesting. Short sales will continue to be around for a while. I have to assume right now that 2012 for short sales in Lindenhurst NY will be around the same as in 2010 and 2011.

If you have been considering to short sale your Lindenhurst NY home as an option but are not sure what it entails, call me today (631) 703-0201 to make a confidential, no-obligation appointment to see if a short sale is right for you and your family.

Yes Lighthouses Are For Lovers...

This weekend, February 12th, The Fire Island Lighthouse will sponsor a couples sunset. You can climb the lighthouse tower and treasure this special time. Light refreshments will be served at sunset (5:24 p.m.) on the terrace.

The Only Person I Sleep with is My Husband

It's funny how buyers get advice that is old-school. Family and friends mean well but inaccurate information can lead to misunderstandings.

In January of 2009, I met with a nice couple who were first time home buyers. During my consultation with them, I let them know that I can refer them to great mortgage brokers, home inspectors and real estate attorneys that will get the job done without breaking the bank.

Upon hearing that, the husband said the following, "we were told to not use anyone the Realtor® "sleeps" with". I knew exactly what they meant and I said, "the only person I sleep with is my husband". Good thing they both laughed at that one!

I explained that real estate was different 20+ years ago then it is now. My job as a buyer's agent is to make sure you have a great team behind you and that includes mortgage brokers, home inspectors and real estate attorneys. If you blindly pick anyone, that could cause problems, delays and cost you more money than necessary. If you already have someone in mind that you trust, then it's all good!

In the end, they bought the home of their dreams and are living happily ever after.