Discussing 2 Important Topics in Real Estate

Today we're touching on two topics—the effects of the president rolling back FHA mortgage insurance premium cost reductions, and whether you should wait until spring to sell your house.

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Today I wanted to touch on two big topics affecting real estate. The first is about the president's recent rollback in HUD mortgage insurance premiums. Then, we'll discuss whether you should wait for spring to sell your home.

First things first—on Inauguration Day, President Trump rolled back a planned cut for the mortgage insurance premium in the FHA, which are HUD-loaned, government-backed insured mortgages. Within an hour of this cutback, I had a local TV reporter call me for comments on the impact! 

A little background: if you have as low as 3.5% down, buyers will go with an FHA mortgage, which is insured by the federal government. If that loan defaults, the government will bail the bank out. The buyer pays a mortgage insurance premium on that mortgage, and that premium was going to be reduced, but will now instead stay the same. The overall impact is that it would have saved the average home buyer $400 to $500 a year in total, so the sky is not falling and buyers are not going to stop buying because of this. The status quo will stay the same, so we won't see any impact. This won't affect the market one way or another. 

So, to our second point—should you wait for spring to sell your home? Absolutely not! If you're thinking about selling your home, know that inventory is the absolute lowest of the year in the dead of winter and buyers are out. We're seeing multiple offers on homes, making it a great time to sell. If you wait until the spring to sell, you risk two things. The first is rising interest rates, which hurts someone's ability to buy your home, and the second is that inventory increases dramatically. There will probably be five more homes just on your street for you to compete with. 

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Don't wait to sell in spring when inventory is higher and buying power is lower.

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Our first quarter has always been our best, and it's always because we're a contrarian firm and we list homes in the dead of winter. We often sell them very quickly because the home buyers out at this time are very serious and inventory is very low. 

If you ever have a real estate question I can help you with, give me a call directly. Have an absolutely awesome day!

Is the First Offer on Your Home the Best Offer?

Today I’d like to Mythbust one of the most common questions I get, which is, “Is the first offer you receive on a home always the best offer?”

In my experience, the first offer you get on your house is the best offer about 80% of the time. If you’re a buyer in that dangerous period during the first few weeks that the home is on the market and you are serious about buying the home, you really need to put a serious offer in right away.

A client of ours recently received a full-price offer from a well-qualified buyer and was wondering whether he should accept it or wait for others to come in. We advised him to take it. This is a good situation to be in, and if it’s a good offer, you won’t want to risk losing it. If you find yourself in this situation as a seller, your first inclination may be to wait for better offers to come in. This is a bad idea. Here’s why:

A few weeks ago, another one of our clients received a full-price offer on his home before we even got the “For Sale” sign in on his front lawn. This seller decided not to take this offer because the home had not been listed on the MLS yet. Two weeks and 18 showings later, the overwhelming feedback was, “The home is overpriced.”

Unfortunately, we’re going to end up selling this home for less than full price, even though the homeowner originally had a full-price offer in his hand. Hindsight is 20-20, but even though we recommended that the seller take the original offer, the reality is that waiting for other offers is going to cost this seller between $10,000 and $15,000.

To answer the original question, most of the time, the first offer you receive—unless it’s completely unreasonable—is going to be the best offer. In general, the longer a home sits on the market, the lower the offers are on it.

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The longer a home sits, the lower the offers on it will be.

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If you’re a buyer and you’re looking to buy a home that’s been sitting on the market for over 60 days, you may be able to go in with a bit of a lower offer. In today’s low-inventory market, though, if a home has been on the market for just a few weeks and you’re serious about it as a buyer, you will want to make a serious offer right away.

As far as this myth goes, I’d say that the statement, “The first offer is the best offer” is generally confirmed in most cases.

If you have any other questions about real estate myths or just real estate in general, please call me directly or send me an email. I’d be happy to help you!

Is Price More Important than the Terms in an Offer?

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Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (518) 861-7016 for a FREE home buying or selling consultation

Today, I want to talk about something we always talk about, whether you're a buyer or seller. For some reason, people always focus on the price. That drives me wild sometimes because price is not the only factor to consider in the home buying transaction. When negotiating, we always encourage you to look at price and terms. Sometimes, the terms are more important than the price. You have to look at the big picture.

Here's an example for buyers. I've seen buyers negotiate for three days, and then they got the deal they wanted. They got 1,000 bucks less than what they expected to. That's great! But then, they go to the same bank they've always done business with to handle the financing. They don't shop around, and wind up paying a quarter point more on a 30-year mortgage.

Guess what? If you do that, you've just blown that 1,000 bucks you spent three days negotiating for, and then some! That quarter point will cost you way more money than $1,000 over the next 30 years.

As for sellers, we see you guys holding out for top dollar all the time. Then, we take a look at the seller's situation, and it turns out they're moving into a new construction home. The reality is, they have to move into temporary housing before their new home is ready. So sure, you get the bragging rights of getting top dollar, but you have to move twice.

In the long run, the inconvenience and cost of temporary housing probably cost more than getting that top dollar. It might have made more sense to take a lower offer with a closing period that allowed them to move directly into the new construction property.

Ultimately, my thought for the day is this: Don't focus solely on price. Think about your carrying costs or mortgage costs. As your real estate agent, we will help you consider the offer from every angle in order to save you money in the long run.


If you have any questions, give me a call or send me an email. I would be happy to help you!

Check Out Our New Listing Using Drone Photography

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (518) 861-7016 for a FREE home buying or selling consultation

Today I want to share one of our new listings with you. This demonstrates some of the ways that technology has changed the real estate business and the way we market homes.

We shot some of this video tour with a drone, which gives you a great view of the property. That's just one of the ways technology has changed the real estate marketing game.

The property is located at 101 Anthony Way. The 4,000+ sq ft property has fantastic water slide in the back that your kids will love. Watch the video for a complete tour!

If you have any questions about today's video, or about real estate in general, feel free to reach out and contact me! I would love to help you.

Why Do Some Albany Homes Sell Quicker than Others?

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Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (518) 861-7016 for a FREE home buying or selling consultation

Today, I address a phenomenon that many people in Albany have asked us about. Why do some homes sell quickly, while others sit on the market for an extended period of time?

The reason some homes sell faster than others is pretty obvious. Selling a home requires a lot of work. Many people don't want to put forth the time, effort, and money it takes to have a successful home sale. The way we live in our homes and how we prep them for sale are two very different things. 

What kind of work does it take to sell in Albany? Redoing hardwood floors, painting, and doing other cost-effective updates are required if you want to sell quickly and for top dollar. It's all about spending $1 to get $2 back, but many homeowners don't want to do that.

The homes that sell are those that are priced correctly and have been maintained and updated by the sellers. If you're buying in this market, you may be able to get a great deal on homes that have not been taken care of. Look for a home that needs a cosmetic update, things you can do cheaply, and reap some entrepreneurial profit from it. 

If you're considering selling, give us a call. We have a professional stager and expert strategies to not only get your home sold quickly, but for top dollar! The best part is that if we fail to get your home sold, we'll buy it ourselves. 

Give us a call or shoot us a quick email for the help you need with real estate. We're always available to be your consultants in real estate!

When Should You Sell Your Home in Albany?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (518) 861-7016 for a FREE home buying or selling consultation

I've had many people asking me lately about the perfect time to sell a home. There are a lot of conflicting ideas about the best time to sell, and you'll probably get a different answer from every Realtor that you ask. 

I trust statistics, so I went back several years and did some research, and I found that the fall market is a better time to sell a home than the spring market. Trying to time the market is impossible. However, September and October do appear to be the best times to sell your home in general. 

A lot of people think the summer market is the best, but we just don't see a lot of activity around here in the summer because people leave town. July and August seem to slow down, as well as the holiday season from December to January. 

With all of this being said, there are many different factors that determine a good time to sell your home, and I would love to discuss them with you. Please don't hesitate to reach out to me if you would like to discuss real estate in Albany!

Are You Looking to Buy and Sell?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (518) 861-7016 for a FREE home buying or selling consultation

Today I'll be answering a question that I received from someone who watched my last video. It has to do with whether or not you should sell your home before you buy a new one. This can be a tricky situation for some people, and it really depends on what you're trying to do.

The problem with selling your home now is that we can get it sold in a week, and then you only have two more weeks to find another home to move into. So you're scrambling to find a home that you're going to live in for 20 or 30 years, and that's never a good situation. On the flip side, if you find your dream home, then you'll be in a rush to sell your current home and you may have to discount it.

My solution to this problem is to have you sit down with me and I can help to assess your financial situation. Some buyers are pickier when choosing homes, and some buyers can afford to pay two mortgages at once. Ideally we could arrange the sale and purchase to be on the same day, and we've done this for many clients in the past. It's really not as difficult as it may seem.

We also have a guaranteed sale program, which will alleviate a lot of the risk and stress for you in a situation like this. 

If you need help buying or selling a home in Albany this summer, please don't hesitate to contact me. I'm always here to help!

Don't Leave Money on the Table When Selling Your Albany Home

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Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (518) 861-7016 for a FREE home buying or selling consultation


A big thanks to everyone who has sent me questions and ideas for topics to discuss here on my blog. I received over 100 responses, so I have a lot to cover over the next few weeks! Today's question comes from Mike: "What is the most cost-effective thing I can do to

improve the value of my home?" 

• Paint

• Refinish hardwood floors

• Kitchens

• Bathrooms

If you want to get the best bang for your buck, you need to focus on cosmetic items. Here are a few of the BIG things you need to key in on: 

You want to avoid putting money into things that won't get you a return on your investment. A new roof, for example, will not make you any money; it's better to sell it as it is and negotiate a credit into the sale price. Furnaces and windows are more examples of items that will not yield a return. 

When you upgrade kitchens, bathrooms, and hardwood floors, you're going to get a return. Recently, I put $6,000 into a listing's bathroom renovations and doubled my money. Fresh paint is also another great investment if you are thinking about selling. In fact, we typically say that paint is $500 in the can, $5,000 on the walls! 

If you have any questions about cost-effective ways to improve your home's value, don't hesitate to reach out to us. We would love to help you get top dollar for your home! 

What's Happening with Albany Real Estate This Spring?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (518) 861-7016 for a FREE home buying or selling consultation

Spring is here, and with the blooming of flowers also comes the booming of the real estate market. As the snow melts, the inventory of homes will increase substantially. This increase will certainly lower home prices, so the sooner you list your home, the more money you'll be able to get for it. 

If you're purchasing a home this year, it's a fantastic time to do so. Inventory will be increasing tremendously in the next 60 days, and affordability is sky-high right now. Just be aware that competition will be fierce, because other buyers will want to take advantage of these tremendous real estate conditions. 

Interest rates are still at historic lows, but they're not projected to stay low for long. It's important to remember that just a 1% increase in interest rates decreases your purchasing power by 10%! So, the sooner you get out and buy, the better off you will be. 

Overall, it's a great time to be in the market whether you're buying or selling, and we would love to assist you with either of those endeavors. Please don't hesitate to call us!

Money-Saving Tax Programs You Should Know About

There are many great Albany homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (518) 861-7016 for a FREE home buying or selling consultation to answer any of your real estate questions.

We've reached the end of January, and unfortunately that means your property tax bill is due. I cannot change the due date of your bill, but I have some helpful tips in order for you to pay a little less in taxes this year and also in 2016.

What I've noticed is that a lot of homes in Albany are overvalued, which means that you'll end up paying more taxes. Be sure to check the assessment of your home and file the proper grievances if you don't agree with what your home is valued at. We can help you file a grievance - it's a free service we offer in order to serve you. 

Another thing I'm noticing in Albany is that not many homeowners are taking advantage of the Star Savings Program, which will impact the school taxes that you owe in September. Everyone is eligible for the Star Savings Program as long as you have a primary residence and your income is less than $500,000 per year. Go to your town's assessor and ensure that you have that exemption in place. 

If you are 65 or over, you are then eligible for the Enhanced Star Program. Contact us or your municipality in New York for assistance with applying for that program. 

Veterans also should be aware of the Veterans' Exemption, which applies to combat and non-combat veterans. The exact qualifications vary by municipality, but be sure to ask us or contact your local municipality.

If you have any questions about this topic, or if you would like to know anything about the real estate market in Albany, please don't wait to call or email us. Our full-time professional staff will be eager to help you in any way possible.

Why is it a Good Time to Buy and Sell?

 There are many great Albany homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (518) 861-7016 for a FREE home buying or selling consultation to answer any of your real estate questions.

Why is it a Good Time to Buy and Sell?

The fall real estate market has been tremendous so far this year. Personally, we put 7 homes under contract in the last 4 days. You will see that this market is actually great for both buyers and sellers once you hear about some of the programs we have going on. 

For buyers, we want to tell you about a great program we have for new construction homes. If you are thinking of buying a newly built home, please do yourself a favor and call our office first. We have a rebate program in place that will save you thousands on the purchase of that home, at no cost to you. This rebate will save you money in the range of $4,000-$6,000.

For our sellers, if you have been considering listing your home, now might be the right time. We are currently offering an incentive to all agents in the area between now and the end of the year. Any  agent that sells one of our listings gets a certificate for a 5 day cruise for two. The idea here is that this will give a lot of agents more of an incentive to sell one of our homes if a cruise is involved.

If you are interested in buying or selling a home before the end of the year, please give us a call. If you have any other questions at all, feel free to contact us as well. 

The Question of Added Value via Solar Panels

There are many great Albany homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (518) 861-7016 for a FREE home buying or selling consultation to answer any of your real estate questions.

The Question of Added Value via Solar Panels

Hey everyone, welcome back to our blog. We created this blog to share with you some of our knowledge and some of the experiences we have had in order for you to be more informed in your next real estate endeavor. 

Today's topic: solar panels. We are often asked, probably about 6 or 7 times in the last month alone, if solar panels do in fact add value to your home. 

The quick answer is no. At the current time, they do not add value as we are actually seeing buyers who are adverse to the look of the home with solar panels on the front. If you put them on the back of the home, they don't negatively affect the home's value, but they do if they are on the front. 

As solar panels become more widely accepted in the future, this will go away, but the panels, at the current time, do not add value. If you are going to be in your home for a while, by all means go get them and enjoy the cost savings, but if you are just looking for a way to add value to your home before you sell it, this is probably not the route to go. 

If you have any questions for us, please feel free to give us a call or send us an email. We would love to help you out. 

Q and A with Top Real Estate Coach Hoss Pratt

There are many great Albany homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (518) 861-7016 for a FREE home buying or selling consultation to answer any of your real estate questions.

Q and A with Top Real Estate Coach Hoss Pratt

Recently on a trip to Philadelphia, we happened to run in to Hoss Pratt, one of the most successful real estate agents in the country. Hoss talks with Realtors all over the country on a daily basis, so we wanted to ask him a question: What is your advice to anyone who is a buyer or seller in today's market? Hoss Replied:

" Find an agent that is an expert in the market, and an expert in marketing. Find someone who understands the local marketplace at a very high level and work with the people you like working with. That's what it's all about."

If you have any questions about real estate that you think we could answer, please give us a call or send us an email. We'd be happy to take the time to answer your questions.