Long Island Real Estate Blog

Redo Your Deck for Summer

Wed, 16 May 2012 14:39:00 -0400

With Spring in full bloom, homeowners are taking advantage of the weather and prepping their outdoor living spaces for the summer season. One main hangout for many is the deck. "There are a handful of different low-cost deck trends for 2012, and homeowners can freshen up their existing space without breaking the bank by highlighting a few key elements," explains Lawrence Finn, CEO Owner/Broker of Coach Real Estate Associates. According to a survey by Trex Company, a composite deck company, 83 percent of Americans favor low-maintenance home improvement projects--and who can blame them? The following updates are as easy as they are wallet-friendly. Rock the railing: "The railing is often the first thing guests see when they take a look at your deck from the yard or street view, so it's important to realize that this is more than just a safety feature--although functionality is important, too," remarks Finn. Make a statement and allow your railing to stand-out by switching up building materials. If you have a wood deck, it doesn't mean you need to have wood railings. "Glass railings are hot right now," says Finn. Want to pass on glass? Look into composite or aluminum. Pump up the posts: Your deck posts can get a quick revamp with post caps. "Planter pots are becoming increasingly popular," says Finn. "Plant an herb garden or your favorite perennial right on your deck post." You can also look into posts with built-in lighting--some are even solar. Add spark to your spindles: The spindles between your rail posts, also known as balusters, can also be updated. Get a unique look by mixing and matching materials. Love the lights: If you're already proud of your outdoor space, spruce up your lighting to show it off at night. Look into recessed lights for the stairs, ornamental post lights, soft illuminating floor lights or eco friendly solar options. If you want to take on a bigger project and give your deck a major facelift, consider redoing the base. Natural wood continues to be popular, but if you don't have the time or money for wood, you can consider composite decking. "Lots of consumers favor composite because it's durable and low maintenance," explains Finn. "And, many designs closely mimic real wood so you still have the aesthetic appeal."

Christie's Sale of Post-War and Contemporary Art Totals $388.5M

Thu, 10 May 2012 12:03:00 -0400

New York - Christie's highly anticipated Post-War and Contemporary Art Evening Sale on May 8 totaled $388.5 million (£240.9 million/ €299.1 million), marking the highest total ever in auction history for the category. Record after record fell throughout the night, as bidders from around the world convened in the saleroom to compete for the sale's exceptional roster of works by the top artists of the category, including Mark Rothko, Gerhard Richter, Jackson Pollock, Alexander Calder, Yves Klein, Richard Diebenkorn, Barnett Newman, and Willem de Kooning, among others. Fourteen new auction records were established, as well as a new record for the most expensive Post-War and Contemporary work sold at auction. The sale was 99% sold by value and 95% sold by lot. "This was an historic event in the auction world, with three major records set in the space of a few short hours: a record for any Post-War and Contemporary art sale at $388.5 million, a record for any private collection of Post-War and Contemporary Art at $174.9 million for the Pincus Collection, and a new record for the most expensive work of the period, with Rothko's Orange, Red, Yellow sold for $86.9 million," said Brett Gorvy, Chairman and International Head of Post-War and Contemporary Art. "This was truly a season of icons, with the best works by Rothko, Newman, Richter, Pollock, Calder and Klein to come to market in many years. To see so many major records established in one evening was a tribute to the exceptional works on offer this season."

Moving Madness: How Clean Should You Leave Your Home?

Thu, 03 May 2012 13:06:00 -0400

So, you have sold your house. Congratulations! As you focus on prepping for your new home, packing and moving, cleaning your old home may be on the bottom of your to-do list. "Many sellers are unsure of how clean they need to leave their former property," says Lawrence Finn, CEO Owner/Broker of Coach Real Estate Associates, who explains that some purchase contracts demand the house be "broom swept." But what is broom swept? And what do you do if your legal contract has no cleaning stipulations? Read on to find out. "While the language behind the term 'broom swept' is somewhat vague, the phrase basically means the seller is required to sweep the floor, walls and ceiling before locking the door for the final time," explains Finn. Of course, some sellers go beyond this and give the home a good scrub-down, but many do not. "Real estate contracts often state that the home should be left in the same condition it was in when the offer was accepted, meaning if you make a big moving mess, you should clean it up--along with all of your personal property," says Finn. Make sure to read your purchase contract thoroughly to determine exactly how clean your home should be. "Many sellers hire a cleaning service to go to work on their homes after they are out," says Finn. After packing and moving, sellers are often exhausted and would rather pay someone else to do a good job getting their home ready for its next inhabitants. "Buyers will be cleaning the home before moving in anyway," notes Finn. However, the following are some things you should pay attention to when cleaning your home for the final time: • Sweep and mop all floors • Vacuum all carpets • Clean all kitchen appliances that will be left on location (inside of fridge and oven, etc.) • Clean bathrooms as best you can, including flooring, tubs, sinks and toilets • Empty out garage and attic • Wipe down counters and surfaces • Throw away any and all personal belongings you aren't bringing with you The bottom line is that you should clean your home to the extent you would like your next home to be cleaned before your arrival.

Long Island Housing Data for March

Tue, 01 May 2012 13:49:00 -0400

The Multiple Listing Service of Long Island released their detailed market data reports for the month March.

To see the detailed reports for each county, please click the county name below to view the PDF file.

Suffolk County

Nassau County

Queens County

Home Staging Secrets: The Kitchen

Mon, 16 Apr 2012 12:43:00 -0400

The kitchen is one of the hottest selling points for any listing, as it is the center for a lot of activity within a home. While you may renovate your kitchen before selling--or at least replace outdated appliances and add some fresh paint--staging is another crucial part of making your kitchen buyer-ready. Make it sparkle. Cleaning your kitchen top to bottom is the first step in home staging. Polish all fixtures, clean out the inside of the stove, dust that ceiling fan, wash windows, scrub your baseboards, clean cabinets and polish or replace knobs and handles. De-clutter. Remove all appliances from the counter, take magnets and photos off the fridge and most of the photos off the wall. Don't remove everything, or it will look cold and unlived in. Instead, allow an opportunity for the buyer to imagine their own lives enfolding in the room. Make use of space and color. Replace your large kitchen table with a smaller one to make the space seem roomier. Replace heavy drapes with lighter ones to brighten the room. Make sure your color scheme is subtle and complimentary, not extreme or jarring. The less things shoved into your space, the larger it will look. Put something simple, like a cookbook or bowl of fruit on the counter or kitchen table . Sweat the small stuff. Go above and beyond to make your kitchen look like a place where your potential buyers will want to spend time. Try not to cook anything with a strong odor in your kitchen during the time your house is on the market, like fish, bacon or curry. Of course, baking some fresh bread has always been a go-to home selling secret. Also, be sure never to leave any dirty dishes in the sink or the dishwasher. Sellers like to open things, and your dishwasher is not excluded from this.

How-To Spot a Foreclosure Rescue Scam Artist

Thu, 05 Apr 2012 13:25:00 -0400

With foreclosure rates high, homeowners all over the country are struggling to secure their finances and save their home. Unfortunately, this means that foreclosure rescue and mortgage modification scams are on the rise as well. "The fact that these scammers are zeroing in on scared and often panicked homeowners is sad," says Lawrence Finn, CEO Owner/Broker of Coach Real Estate Associates. "However, it's a reality we have to face by arming homeowners with the tools they need to protect themselves." So how do these scammers move in? Many companies say they can get a change to a loan that will reduce the homeowner's monthly mortgage payment. Others say they're affiliated with the government, or the lender,and many even offer a money-back guarantee. "These con artists often claim they can 'save' your home, often pretending that they have direct contact with your mortgage servicer," explains Finn. They ask for a fee, or require you to make mortgage payments directly to them, and then they disappear with your money. And how do they find distressed homeowners? "Some watch for public foreclosure notices in newspapers and online, or check public files at local government offices, and then send personalized letters or make phone calls directly to the homeowner," explains Finn. "Some place ads online or on TV and let the homeowners come to them." Below, Finn outlines a few different commonly used tactics that scammers use to lure in distressed homeowners. The Rent-to-Buy Companies or scammers who use the rent-to-buy scheme tell the owner to surrender the title to their house as part of a deal that allows them to stay there as a renter with the promise that they can repurchase the property later. The Counselor The company or scammer tells the homeowner that for a fee, they'll negotiate a deal with your lender to reduce your mortgage payments or to save your home. Often, they claim to be attorneys or represent a law firm. Bait-and-Switch "In this type of scam, con artists give homeowners documents to sign to get an additional loan, which they claim will make their loan current," explains Finn. Usually somewhere hidden in the document is information surrendering the title of the home to the scammers in exchange for a rescue loan. The Auditor Here, an "auditor" offers to have an attorney or real estate expert review your mortgage document to determine if your lender complied with the law. They ask for an upfront fee and then disappear. "These scam artists often call themselves forensic loan auditors, mortgage loan auditors or foreclosure prevention auditors," says Finn. So how can you tell if you are dealing with a foreclosure rescue scam artists? Keep an eye out for the following warning signs: Beware of anyone who: o Asks you to pay an upfront fee in exchange for counseling or loan modification o Pressures you to sign papers immediately o Asks for payment by wire transfer or cashier's check o Claims they will buy your home from you so you can repurchase it over time o Tells you not to contact your bank, lender or lawyer o Asks you to make mortgage payments to them, instead of your lender Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company Never make a mortgage payment to anyone other than your mortgage company. "If you have gotten a foreclosure notice, or are having trouble making mortgage payments, contact your lender and see if you can negotiate a new repayment plan," advises Finn. "Your home is your most valuable asset, so being hyper-aware of scammers is important."

Bid to Save the Earth: Christie's Annual Charity Auction

Tue, 20 Mar 2012 17:36:00 -0400

Christie's International, the world's leading art business, is pleased to announce the third annual Green Auction: BID to Save the Earth, to be hosted by Christie's at Rockefeller Center on April 11, 2012, just two weeks before Earth Day.

A world-class companion auction powered by charitybuzz.com will run online from March 29 to April 19. The Green Auction is a borderless collaboration of individuals, organizations, and businesses who are engaged, in spirit and action, in the protection and conservation of the environment.

Initiated in 2010 by Christie's, the star-studded affair is expected to raise significant proceeds for four of the world's leading environmental nonprofits – Oceana, Conservation International (CI), Central Park Conservancy (CPC), and Natural Resources Defense Council (NRDC) – specifically to benefit water-conservation projects central to each organization.

"Christie's is delighted to again host the Green Auction: BID to Save the Earth – fulfilling our commitment to help raise crucial funds and awareness for the preservation of our planet's precious resources," said Steven P. Murphy, Chief Executive Officer of Christie's International. "By partnering with four globally renowned and respected not-for-profits, we are honored to help serve as a catalyst in such an endearing effort."

The 2012 Green Auction, generously supported by JW Marriott, will be co-chaired by Graydon and Anna Carter, James R. Hedges IV, François-Henri Pinault and Salma Hayek, and David and Susan Rockefeller, with a live musical performance by Grace Potter of Grace Potter & the Nocturnals and overall support from a host committee comprised of New York's most influential environmentalists, celebrities and philanthropists.

Long Island Housing Data for February

Mon, 12 Mar 2012 16:35:00 -0400

As reported by MLSLI: The closed median home price on Long Island, which includes Nassau, Suffolk, and Queens, in February, 2012 was $340,000 representing a 4.1% decrease over the year prior. Nassau County reported a closed median home price of $380,000 representing a 3.8% decrease from the prior year. Suffolk County reported a closed median home price of $304,250 compared to $300,000 the prior year, representing an increase of 1.4% and Queens reported a closed median home price of $340,000 representing a decrease of 3.7% over February 2012.

The Multiple Listing Service of Long Island released their detailed market data reports for the month February.

To see the detailed reports for each county, please click the county name below to view the PDF file.

Suffolk County

Nassau County

Queens County

Long Island Housing Data for January

Sat, 18 Feb 2012 14:56:00 -0400

As reported by MLSLI: Housing affordability, which has been driven by low mortgage rates and affordable home prices, looks reasonably strong. Contracted sales are up over last January by 17.8% which could be a sign that more buyers are taking advantage of the affordability of housing on Long Island and in Queens.

The Multiple Listing Service of Long Island released their detailed market data reports for the month January.

To see the detailed reports for each county, please click the county name below to view the PDF file.

Suffolk County

Nassau County

Queens County

Christie's Reports $5.7 Billion in Total Sales for 2011

Mon, 06 Feb 2012 13:22:00 -0400

Christie's, the world famous art auction house, has released its 2011 total global auction and private sales figures. Christie's reported total sales of $5.7-billion an increase of 9% over total sales for 2010. Some of the highlights from 2011 include the $43,202,500 sale of a Roy Lichtenstein painting and the $158-million sale of Elizabeth Taylor's collection of art, jewelry and film memorabilia.

To read the press release, please click here:

To read what the Wall Street Journal has to say about this topic, please click here:

Long Island Housing Data for December

Fri, 27 Jan 2012 13:47:00 -0400

The closed median home price on Long Island, which includes Nassau, Suffolk, and Queens, in December 2011 was $336,000 representing a 6% decline over the year prior. Nassau County reported a closed median home price of $385,000 representing a 2.5% decline from $395,000 reported in December 2010. Suffolk County reported a closed median home price of $305,000 compared to $325,000 in December 2010. Queens reported a closed median home price of $325,000 representing a decline of 8.5% over prices reported a year ago.

Housing demand continues to strengthen and buyers are active. The number of contracted sales in December 2011 was 5.2% higher than in December 2010. This is a positive sign for the market.

Inventory is off by 9.9 compared to November 2011, but the available residential inventory figure this month is only less than 1% compared to a year ago.

The Multiple Listing Service of Long Island released their detailed market data reports for the month December.

To see the detailed reports for each county, please click the county name below to view the PDF file.

Suffolk County

Nassau County

Queens County

Top New York Metro Real Estate Firms Join Online Forces

Wed, 11 Jan 2012 14:51:00 -0400

In an initiative aimed at streamlining the home buying and selling experience in the New York metro area, four top residential brokerage firms have joined forces to create the Tri-State Alliance, a partnership launched today to share exclusive property listings online. The brokerage firms include: Halstead Property serving New York City, the Hamptons, Fairfield County in Connecticut, Hudson and Essex Counties in New Jersey and Columbia County in New York; Houlihan Lawrence serving Westchester, Putnam and Dutchess counties in New York; Coach Realtors serving Nassau and Suffolk Counties of Long Island; and Turpin Realtors serving Somerset, Morris, Hunterdon, Essex and Union Counties in New Jersey. Each firm's exclusive listings will be searchable across all four brokerage websites, which collectively receive millions of visitors annually. The Tri-State Alliance brings together 68 office locations, more than 2,900 sales agents and nearly 8,000 exclusive listings. "This move is unprecedented in our industry, and we are extremely proud of all of our efforts to develop this alliance that will better benefit consumers in a one-stop experience. This unique sharing and collaboration among independently owned and non-franchised brokerages developed from the mutual friendship and respect each brokerage has for one another," stated Diane Ramirez, President of Halstead Property. "By combining our considerable resources, we are increasing the visibility of our exclusive listings which will help both our sellers and buyers," said Chris Meyers, a Principal of Houlihan Lawrence. "In addition, we are increasing the brand awareness of our individual firms in markets where we might not have a bricks and mortar presence. It's an extremely smart, efficient and effective way to further promote our companies and showcase our talented agents." The four owner/brokers of each firm began discussing this unique and forward-thinking collaboration in early 2011. Last August, the four company owners met in the New York City offices of Halstead Property to formally begin the process. "Months of planning and collaboration went into making this happen, each brokerage, technical and marketing departments worked closely towards a single goal," stated Georgianna Finn, owner of Coach Realtors. "We are excited to be a part of this wonderfully collaborative effort, the result of which is a comprehensive search tool that will prove invaluable to consumers in the tri-state region. In addition to providing high quality listing data from the various regions we cover, each of our websites offers valuable resources like community profiles, property videos and helpful tips for navigating today's real estate market," John Turpin, President of Turpin Realtors. Halstead Property Halstead Property is one of the largest residential real estate brokerage firms in the metropolitan area. Headquartered at 499 Park Avenue, the firm has nearly 950 sales and rental agents located in 21 premier offices in Manhattan, Brooklyn, Riverdale, the Hamptons, Hudson Valley, Hoboken, New Jersey and Fairfield County, Connecticut. In addition, the Development Marketing Division of Halstead Property is the exclusive sales and marketing firm for many new developments in the tri-state area and through the Property Management Division, Halstead manages more than 18,000 residential units within 180 buildings. www.halstead.com Houlihan Lawrence Houlihan Lawrence is the largest area broker serving Westchester, Putnam and Dutchess counties, and the 15th largest broker based on sales volume nationwide. Founded in 1888, the company has 24 offices and over 1000 agents. Houlihan Lawrence offers specialization in several key areas: Luxury Country Properties reaches beyond the local marketplace to attract discerning buyers from around the world; Global Relocation partners closely with local Fortune 1000 companies to provide full-service relocation assistance; Houlihan Lawrence Project Marketing works exclusively with and for developers of single family and multi-family projects. Houlihan Lawrence has a strong digital footprint and listing syndication to dozens of websites that offer local, regional and international exposure, reaching over 30 million buyers each month. www.houlihanlawrence.com Coach Realtors Coach Realtors, founded in 1954, is a Long Island based residential real estate company with 18 office locations and more than 650 sales associates serving Nassau and Suffolk counties. Family owned and operated, Coach Realtors is an exclusive affiliate of Christie's International Real Estate, a division of the famed auction house, a member of Leading Real Estate Companies of the World ® and has been recognized by Who's Who in Luxury Real Estate for over 20 years. www.coachrealtors.com Turpin Realtors Founded in 1960, Turpin Real Estate is an independent, family-owned agency with offices in northern New Jersey. Our outstanding, full-time sales staff is dedicated to providing the highest quality service with uncompromising integrity. Strategic network alliances and extensive marketing systems provide us with unsurpassed coverage for our clients regionally, nationally and internationally. Global reach, unparalleled local expertise and the flexibility of an independently owned agency are the hallmarks of our organization. www.turpinrealtors.com

New Loan Program for Doctors

Tue, 03 Jan 2012 17:19:00 -0400

We are proud to announce our official lending partner, Residential Mortgage Division, an affiliate of Wells Fargo Home Mortgage, has recently created a mortgage product just for medical doctors.

Medical doctors who have recently completed their residency often face unique financial obstacles when purchasing a home.

This new home mortgage product helps to remove these obstacles, broaden the range of properties the borrower can consider and reduce the amount of the down payment by taking into consideration the doctors future income earning.

To learn more about this mortgage program and the qualifications needed, please click here.

Leading Real Estate Companies of the World Affiliates Named Top 100

Thu, 22 Dec 2011 12:18:00 -0400

Leading Real Estate Companies of the World^® had a great showing on the Inman 100 report, an annual ranking of the Most Influential Real Estate Leaders.

Nearly 30% of the people in the category of Brokerages, Franchisors, Brokerage Organizations are affiliated with the network, including Leading Real Estate Companies of the World CEO Pam O'Connor.

To see the complete list, please click here.

Christie's Holds Record Breaking $115,932,000 Sale of Elizabeth Taylor's Collection of Jewels

Wed, 14 Dec 2011 17:53:00 -0400

New York – The Collection of Elizabeth Taylor: The Legendary Jewels Evening Sale achieved $115,932,000 (£74,196,480/€89,267,640), becoming the most valuable jewelry auction in history* and setting the tone for Christie's highly anticipated four-day series of landmark auctions devoted to the iconic collection of Elizabeth Taylor (13-16 December 2011). A tribute to the discerning eye of this celebrated film star, fashion icon, and humanitarian, the sale was 100% sold by lot and 100% by value, with 24 of the 80 jewels fetching over $1 million and 6 jewels over $5 million. 7 new world auction records were established: price per carat for a colorless diamond and for a ruby; a pair of natural pearl ear pendants; a pearl jewel; an Indian jewel and an emerald jewel.

The top lot of the sale was the legendary 16^th century pearl La Peregrina which realized $11,842,500 (£7,579,200/ €9,118,725), setting two world auction records: for an historic pearl (against the previous record of $2.5 million set by La Regente at Christie's Geneva, 2005) and for a pearl jewel (surpassing the $7 million record paid for The Baroda Pearls at Christie's New York, 2007). A gift from Richard Burton in 1969 (having been bought for $37,000 at auction), this remarkable pearl of 203 grains in size is equivalent to 50 carats. Discovered in the 1500s in the Gulf of Panama, it became part of the crown jewels of Spain and ranks as one of the most important historic pearls in the world. Elizabeth Taylor designed the Ruby and Diamond Necklace with Al Durante of Cartier to offset what she called "the most perfect pearl in the world."

"Elizabeth Taylor's magnificent collection of jewels has captivated the auction world this fall, resulting in world-wide bidding and this first landmark result. Without a doubt the greatest private collection of jewelry ever assembled, this sale marked the powerful start of Christie's historic week of sales auctioning the Jewelry, Fashion, Accessories and Memorabilia from The Collection of Elizabeth Taylor between the 13 – 16 December, in tandem with the online-only sale (3 – 17 December)," said Marc Porter, Chairman and President of Christie's Americas.

To see pictures of the jewels and complete story, please click here.