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Mahopac, NY

Home staging in Putnam and Westchester County NY

Michael Trinchitella  - Mahopac NY Real Estate: Real Estate Agent in Mahopac, NY

You've made the decision to sell your house. You will soon realize that now is the time to prepare yourself to move into the marketing mode because you will soon be presenting your home to your market...the home buyer.

Getting Mentally Prepared

Your home has become a product. It can be difficult to think of a home as a mere product, but it helps to do this in order to get top dollar and sell it in a reasonable amount of time.

• That product is your house. Your home will become the new residence you choose - how exciting!

• You want to sell that product.

• As with any product for sale, your house will have to be marketed.

• Before you can market it, you must determine how you will package it.

• You want to package your house so that it is attractive to customers (in this case, the home Buyer) because you want them to choose your house and not the competition.

• To gain an edge in your marketplace, you must be priced right and look better than the competition. Quite possibly the best way to package your house and gain that competitive edge is to stage it.


Staging - Recipe For a Sale

There are 6 main ingredients that make up the sale of your home:

1. LOCATION We usually cannot move a home! To quote the favorite phrase of appraisers, "Location, location, location!" The pricing of your home must reflect its location.

2. CONDITION The upkeep and good condition of your property is crucial to obtain the highest value for your home in any given market at any given time. The pricing of your property must reflect its condition.

3. PRICE Price is the number one factor in the sale of a home. A property is really only worth what one person is willing to pay another to gain ownership of it. Price must be in direct relationship to the other five ingredients, and is the most important of all.

4. TERMS The more terms available on your property the more potential buyers you reach. The pricing of your property must reflect the current status of the market.

5. THE MARKET i.e., Interest rates, competition, and the economy all make up and influence the state of the market when you sell your home. The pricing of your property must reflect the current status of the market.

6. STAGING Homes that are prepared for sale sell quicker and/or for more money! Staging will immediately give your property a marketing edge in any market.


When all of the above ingredients are in agreement...we have a sale. If just one of them is out of line, it will take a longer time to sell and...the more ingredients that are out of line, the longer it will take before the sale of your home takes place.

According to Allison Segreto an Accredited Staging Professional, the top 10 benefits of home staging include:


1. Faster Sales Time - Reduce Time on Market

2. Best Sales Price

3. Professional Image - staged homes look better in print and internet advertising.

4. Great Market Differentiator

5. Distinct Marketing Advantage over non-staged homes

6. Attract a broader range of buyers - staged homes are more appealing and are recognized as the best properties to see.

7. Buyers view staged homes as well cared for properties.

8. Building Inspectors view staged homes as cared for properties.

9. Appraisers are more likely to appraise staged homes at full value.

10. Tax Advantages - staging may be tax deductible as a service done to specifically prepare your home for sale.

When you work with an Accredited Staging Professional you expect them to help you prepare your house for sale so it shows better than the competition.

With your staged home on the market, you can be sure you'll be moving ...and when you move you'll need to pack...so just pack up early! Because...

Staged homes will usually sell for more money and in a quicker amount of time. This is usually the goal of every home seller.


If you are thinking about selling your home and would like to learn more about the staging process please contact Allison Segreto an Accredited Staging Professional at 845-528-2444 or visit her web site at www.MissionOrganizationNY.com.

Mahopac Real Estate Market update - 1st QTR 2010

Michael Trinchitella  - Mahopac NY Real Estate: Real Estate Agent in Mahopac, NY

For the 1st quarter of 2010 there were 28 sales in Mahopac. The median selling price of these homes was $325,000 with an average time on the market of 206 days. The current absorption rate is 9.67 months. The absorption rate is the number of weeks it takes to sell the current inventory at the present rate of sales and if no other listings came on the market.

Compare this data to the 1st quarter of 2009, the median selling price was $417,000 with an average days on the market of 208. This represents a 22% drop in median home selling price from 12 months ago this time. The median price in all of Putnam County was $295,000 compared to the 1st quarter of 2009 which was $334,750

If we compare 1st quarter 2010 median sales price to all of 2009's median sales price which was $380,000, we will see that current the 1st quarter sales prices are down 15.5% from the median sales price for all of 2009.

That is a lot better than a 22% drop but it is not something to jump up and down about, well unless you are a buyer in this current market. Remember there are 2 sides to every sale, the buyer and the seller. Most sellers will feel the current market is a bummer in regards to home values but if you ask buyers they will tell you this is great and what could possibly be better than this? Consequently if you are a current seller who purchased their home prior to 2003 then you too should be happy because you will have made a decent profit because the market hit its peak at about 2006, 3 years after you bought your home for a nice low price.

The avg sq. footage of the current sold homes was 2,023 sq. feet, the average price per square foot was $174.86/sq. feet. If we do some math that equates to an average house price $353,741 which in my opinion is a very popular price right now. That price is not too far from the median sales price of $325,000 and that price range is an extremely popular price for 1st time home buyers who are trying to buy a home now to take advantage of the $8,000 tax credit that expires very soon. This could explain why the $325,000 price range is moving more than anything else right now.

To put this all in perspective, the median sales price in Mahopac in the 1st quarter for the year 2006 was $470,000 compared to the 1st quarter of 2010 and a median sales price of $325,000, that is a drop in home values of about 31%. The median sales price 10 years ago in 2000 was $240,000. So if you bought your home in 2000 and even figuring in the 31% drop in the market from its peak in 2006 you will still realize a 35% profit on the sale of your home! Not bad.

I am expecting to see a little bit better numbers after the 2nd quarter but overall the values are still down, how much lower will they go is all speculation at this point. What I and many others do know is that the values will not be going up for a VERY long time.

If you would like to know the value of YOUR home and would like a Free Home Evaluation please visit www.MahopacHomeValues.com . I would be happy to help.

More Foreclosure Relief for Unemployed and Underwater Loans in Revised 2010 Mortgage Modification Plan

Louis Cardillo - Mahopac NY Real Estate: Real Estate Brokerage in Mahopac, NY

With a weakening housing market and expiration of the home buyer credit, the Obama
administration and Treasury have stepped up efforts to help struggling home owners facing foreclosure,
including subsidies for the unemployed and borrowers who owe more than their home is worth.

The updated/revised plan would increase payments to lenders that modify second mortgages. Banks'
unwillingness to write down second liens has helped block efforts to prevent foreclosures, and preventedcurrent programs from helping more home owners.
The administration proposed allowing more mortgages to be refinanced into FHA guarantee programs if the borrower is current on the loan. The lender would have to cut the amount owed by at least 10 percent to less than the value of the home. The first and second mortgages combined would have to be no more than 115percent of the home's value.
More than 15 million homeowners fall into this category, according to Moody's Analytics. About 10 million of them owe at least 20 percent more than their house's current value.
The Treasury plan will also help unemployed homeowners reduce mortgage payments for three to six months while they look for work. If homeowners don't find a job in that time, or if they find a new job at a lower salary, they will be evaluated for further assistance.
Further under the new programs, existing incentives will be expanded for borrowers with FHA-guaranteed loans, and relocation assistance payments will be doubled for borrowers who have to move out of residences. Service providers will be required to consider principal write downs when modifying loans and the Treasury will offer incentives for principal reductions.
The revised plan and new programs will get additional funding from the $700 billion Troubled Asset Relief Program and money from $50 billion already set aside for housing programs. $14 billion will be allocated to the FHA guarantee programs.

Foreclosures May Lead to Lawsuits from Lenders

Louis Cardillo - Mahopac NY Real Estate: Real Estate Brokerage in Mahopac, NY

Lenders will file a tidal wave of lawsuits against homeowners in the next few years as a way to counter losses when home sales or foreclosure auctions don’t result in enough money to pay the mortgages in full, according to real estate and legal analysts. “It will be a dramatic problem because the borrowers will not know it’s coming,” said Frank Alexander, a law professor at Emory University in Atlanta.
The laws vary from state to state. For example, in Florida, banks have five years from the date of the sale to file for so-called deficiency judgments and up to 20 years to collect. Lenders can then garnish wages or make claims on borrowers’ assets.
As the next wave of the housing crisis plays out, those most in danger of getting slapped with lawsuits include angry homeowners who ransack properties they’re losing in foreclosure and borrowers who walk away from “underwater” mortgages. In both cases, analysts say, banks will want to discourage other people from such behavior.
Mortgage companies typically won’t sue homeowners who negotiate in good faith or those who default on their loans because of job losses or other unforeseen circumstances, said one executive at a company working with lenders on the resale of foreclosed homes. Still, borrowers shouldn’t rely on a lender’s verbal commitment, he said. “Get something in writing." Banks are often reluctant to put anything in writing, but insist upon it.

Under new government guidelines for short sales that took effect this spring, lenders aren't supposed to hold homeowners responsible for any remaining mortgage debt. But not all short sales fall under the guidelines, while some lenders choose not to implement them.

Oversized contemporary home for sale in Mahopac NY

Michael Trinchitella  - Mahopac NY Real Estate: Real Estate Agent in Mahopac, NY

Welcome to 34 Tommy Ct in Mahopac NY. Lovely oversized contemporary home with spectacular view on 1.45 acres with above ground pool. Hardwood floors throughout, crown molding, huge oversized eat-in-kitchen. Updated baths, large master bedroom suite with master bath. Large finished lower level with family room, recessed lights, full bath with double sinks. Located in sought after neighborhood in Mahopac, minutes to Taconic Parkway. Taxes do not reflect $1,093 STAR deduction. Asking $490,000 - negotiable!

To view more photos and details check out: 34 Tommy Ct. Mahopac NY 10541

To view all homes in Mahopac check out: Homes for sale in Mahopac NY.