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Long Island Market Update
 
    Newly released data suggests that home sales declined in March some 2.6% from last year. Our observations tell us that while there are a lot of buyers out kicking tires, there aren't as many serious buyers as we would like to see for this time of year. Our web site is getting a lot of registrations and hits, but actual sales haven't been robust.

    On the listing side we have been receiving a steady stream of offers on our listings. While this is good news for us; when you take into consideration that we spend a great deal more on marketing than the average agent, and we are not mega listers but rather boutique type listers, our experience seems unique to the market.

    What does this mean to buyers and sellers? If you are buying you may be able to negotiate some good deals, but you may have to wait until June for sellers resolve to really start crumbling. In April everyone has high hopes and negotiations can be tough, by May sellers start to wonder why they aren't getting more offers, by June panic can start to set in. By July if they don't have accepted offers, sellers who must sell start getting desperate and are usually pretty flexible in pricing (remember these are generalities and don't hold true in all cases). With all that being said, there are some great deals to be had if you are felixble.

    If you are selling make sure you have an agent who is actively marketing your property. This is still a buyer's market, but proper pricing and proper marketing still get homes sold. We use a combination of techniques to insure that our listings generate interest and offers. Don't get discouraged if the initial activity isn't as great as you had hoped for, but do question your agent as to what marketing adjustments he or she will make to increase activity on your home. Lowering the price isn't always the answer either. An underpriced home markets itself, a properly priced one needs smart marketing.

    Please feel free to e-mail questions or comments, we enjoy talking and writing about real estate. If you would like to see a blog on a particular subject please e-mail me.

Thank you

Tom Brady SFR, e-PRO, SRES GREEN BPOR
Licensed Real Estate Salesperson
Notary Public, Retired N.Y.P.D. Lt.
631-682-8660
Tom@BradyFamilyRealty.com
www.BradyFamilyRealty.com
"We treat you like family!"
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 104
Plainview, New York 11803