DUTCHESS COUNTY REAL ESTATE

Maybe it's a sign of the times. Literally...you tell me! I live a mile up the road from a new-home subdivision which is being marketed by two national home builders. It was a great change for our area when these national builders arrived, as we needed new and fresh ideas. Seemed that all the local builders were just starting to understand that area buyers wanted new design concepts and were seeking extravagant upgrades to keep up with new building trends across the country. Up until ten years ago, our local builders were in a time warp. So, enter the national home builders about 5 years ago - they gave the locals (builders) a run for their money...and we welcomed them with open arms. The oohs and ahhs - it wasn't often that agents here ever got a glimpse of a "furnished" model home. While the local builders generally built spec homes and relied on their agent representatives to sit at an open house with a folding chair, the national builders spared no expense to have their "furnished" models professionally decorated and staged. It was an easy sell until the bubble burst. So, now there is this subdivision with a few existing homes and many, many vacant lots. Today, as I drove down the street I couldn't believe my eyes when I saw how a national builder is marketing homes this weekend. Spare no expense to furnish the model home and hire a guy to lean on his Toyota Corolla, cap on backwards - with a sign that says "NEW HOMES". Come on!  I made my husband stop the car so I could take a picture for all my Active Rain friends. As I got out my camera and opened the car window, my husband insisted that I was stalking this poor guy! ...tell me is this a sign of the times, or a (tacky) sign of desperation? desperate?

Congratulations! You just purchased a new home! Whether it's your first house or just a major lifestyle change, every home-buyer experiences a degree of euphoria! Envisioning yourself in a new place creates all sorts of decorating ideas and sometimes induces panic - "I need this & that". As soon as contracts are signed, it's common for buyers to start a "necessity list". STOP!

This is the time when I begin counseling my clients to NOT shop for the things they feel are really needed. While I do tell them to have some fun getting ideas, and comparing prices - I stress that now is not the time to begin paying for the new kitchen table, washer & dyer, window treatments. DON'T JUMP THE GUN!

Remember, the bank pre-approved you based on your income, assets, and credit score. Your debt to income ratio was a big factor. But, YOU'RE NOT DONE YET.

The bank will begin processing your loan before issuing a full mortgage commitment, and during the course they will be checking all these things again. I once had a deal fall through just a few days before closing because Mrs. Buyer quit her job that week, thinking that the bank already checked her out and they had a firm closing date scheduled. Well, the bank called to verify employment 2 days before closing. The deal was dead - the buyer no longer qualified for the loan.

Some things can wait until after the home purchase is finalized - like quitting your job or spending money. It won't be the end of the world if you have to sit Indian style on the floor to eat dinner for a few days, just because you do not have a kitchen table. In many cultures this is the norm! So, roughing it the first few weeks is perfectly acceptable when you are pursuing years of future enjoyment to come.

As hard as it is, a buyer needs to use self restraint during this time. This past Christmas when my client's closing was delayed until after the holidays, due to a CO issue that needed to be resolved - my client's family decided not to exchange Christmas gifts until after the holidays. They were determined to not do anything that would cause scrutiny to the mortgage process. See, they realized their new house would be a Christmas present, in itself - and they were not about to do anything to jeopardize the process.

So, before swiping that piece of plastic or writing a check that will minimize your assets, THINK TWICE.

The bank is still monitoring your spending habits, your bank accounts, confirming you are still gainfully employed and eligible for the loan. Yes, you may have a stalker - during the next few weeks before closing... your lender is lurcking. As they say, IT AIN'T OVER UNTIL THE FAT LADY SINGS!  

I like auto racing, but I am not too knowledgeable about NASCAR. Today I hosted a broker's luncheon with a mortgage rep who is apparently "up" on NASCAR. As I was talking to other agents about who was jumping ship here and there, and which agents were joining certain agencies - the mortgage rep listened intently and smiled. He refereed to this as "Silly Season".

Okay? We were three woman at that moment in attendance, and we all looked at him a little confused. I was the first to ask. "What do you mean....Silly Season?"

He proceeded to tell us that Silly Season is the time of year when NASCAR  sponsors, drivers, and car owners start talking about the next season. This is the time when there are rumors and speculation about who is going to drive what car and who the sponsor is going to be.

"Ahhh. Silly Season!", was the voice of another agent who had been touring the property and rounding the corner! She just so happens to love NASCAR. As much as the rest of us felt stupid, at least the mortgage rep had somebody to relate to - he was the only man amongst the group of woman. 

So, this must be Silly Season!

Well, there's certainly a lot of speculation right now - about ME, but I'm not going anywhere. Of course, I'm keeping a lot of people guessing. But, whatever I'm doing - it's working for me. I am not the least bit disappointed with the amount of business I have right now. 

So, I will remain just a silent observer to Silly Season!    

       IF IT AIN'T BROKE - DON'T FIX IT!    

What is Karma? karma n. Hinduism & Buddhism. The total effect of a person's actions and conduct during the successive phases of the person's existence. Karma is the belief that a good or bad deed leads a person's destiny. Can deeds really lead to future experiences? According to the law of Karma, deeds make one responsible for one's own life, and the pain and joy it brings to them and others.

In terms of other religions, Karma is similar to a golden rule "Do onto others as you would wish them do onto you"

I also like the practice of "Random Acts Of Kindness" - To create conscious awareness of a uniform movement of kindness throughout the universe.

Do you have good Karma? Go ahead, take the Karma Test ...

www.truelifekarma.com

True Life Karma - Online Karma Test - Predict Your Fate

With home prices dropping as they have, a seller needs to have realistic expectations about price. How can a seller get a good understanding of the current real estate market? I always suggest to anybody considering marketing their property to start out on the internet, searching for homes in what is believed to be the right price range - just as a buyer would.

Remember, beauty is only in the eye of the beholder.

A seller should know exactly what he/she is competing with. Start with reviewing interior photos of each property, the listing remarks, lot sizes, finished Sq Ft,  # of garages, # of bedrooms. While researching the other listings, be objective. A seller needs to see things in the eyes of a buyer - not as the seller of a new competing property. Ask yourself, "would I pick this house over mine?"

Every seller thinks his home is a castle and it's worth more than it is. In this challenging real estate market, every seller must also know there is a difference between what they might need and what a buyer is willing to pay. Yes, a home is worth only what a buyer will pay, and only after the buyer has checked out the entire inventory of homes out there.

Know the competition. With mounting inventories, only the sellers who have positioned their homes to be the "best value" are the sellers who will win over buyers. Sellers must detached emotionally - because, to a buyer your "home" is just another "house".    

Don't forget - at 2 a.m. on March 9, 2008, Americans turn their clocks forward one hour, marking the beginning of Daylight Saving Time (DST). Months after Indiana passed the law that got it in step with the rest of the country, the federal government announced a major change in Daylight Saving Time. In Aug. 2005, Congress passed an energy bill that included extending Daylight Saving Time by about a month. As of 2007, DST starts the second Sunday of March and ends on the first Sunday of November.

  Soon there will be more daylight hours to show homes!!!!

The Dutchess County SPCA strives to secure caring, responsible, permanent homes for adoptable animals. The DCSPA matches adopters with new pets. Anyone looking to adopt a pet from the shelter should read, print and bring in a completed adoption application. The application helps adoption counselors assist adopters in the selection of a new pet, and allows them to determine whether an adoption is in the animal's best interest. For more information regarding pet adoption in Dutchess County log onto the DCSPCA website:

http://www.dcspca.org/   

                                                      To read Bells's story:

                                                       http://www.dcspca.org/mainpages/page2.htm#Hope