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Gina Lollo

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First time Home buyers

10-28-08
Gina Lollo

First time homebuyers

I think it is worth mentioning this great program before time runs out.

Check Out: Suffolk County Home Consortium 2007 Down Payment Asssitance Porgram

Some requirements apply, check out website for more details.

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Home Prices, Price to SELL

10-17-08
Gina Lollo

Price to SELL

Once you have decided to sell your home, you want to put it on the MARKET, get OFFERS, and SELL and you want it to accomplish this as quickly as possible.

The key is to "position" your property so that it is desirable; attractive to buyers in the market place, & competitive; so that it competes well when compared to other similar homes in the area.

OVER PRICED HOMES:
When a home is "Listed" above what the buyers are willing to pay and what banks are going to appraise it for, we are just wasting our time. We wind up with:

  • A home that sits on the market, has minimal offers and ultimately never sells.
  • Disappointed sellers: the inflated price set the stage with a false sense of hope that they may get "$$$" for their home.

The best way to avoid all the disappointment is to market the home competitively from the very beginning. Below are some pointers for you to consider.

  1. Have an agent do a comparative market analysis of your home (CMA) This will give you a demonstration of what other buyers paid for homes similar to yours. The agent will make adjusts up or down depending on the amenities of your specific home.
  2. Get a bank appraisal to find out exactly what the bank determines your property to be worth. (If your home does not appraise for what you are asking, or even what someone is willing to pay, it will be very difficult for the prospected buyer to obtain a mortgage on the property)

Having a bank appraisal is fairly inexpensive when considering how much time you can/will save. And everyone knows what they say; "timing is everything" & "time is money"
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Three Village School District Area Information

10-17-08
Gina Lollo

If you are thinking about moving to the Three Village Area, you should check out the following links. These links will bring you directly to the Three Village School District Website where you can find answers to many of the questions that you may have about the district. The Three Village School District is comprised of 5 elementary schools, 2 Jr. High Schools and 1 High School. There is also a Link to additional Community Information as well.

Arrowhead Elementary

Minnesauke Elementary

Nassakeag Elementary

Setauket Elementary

WS Mount Elementary

PJ Gelinas Jr High School

RC Murphy Jr High School

Ward Melville High School

Community Information

If you would like additional information, you can go to www.northshoreproperties.org

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Kings Park Real Estate Market Update

10-17-08
Gina Lollo

I was researching the area for a client, so I thought I would publish the informaiton in case anyone else was interested in the findings.

According to the MLS of LI, 35 homes closed from June 1, 2008 thru Oct 17, 2008 in the Kings Park area. The average days on the market was 99, the average SOLD price was $450,657.

Keeping in mind that the low was $275,000 and the high was $810,000.

Homes that are priced more competitively will generally sell faster than those that are priced at the higher end of the range.

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Port Jefferson School District Real Estate update Aug/Sept 2008

10-16-08
Gina Lollo

In reviewing data provided by the MLS of LI, There has been a slight increase in number of homes from August into Sept. During the month of August 2008 there were 6 new listings as compared to 9 new listings in Sept. The listing prices ranged from $389,000 to 1,499,000.

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