YAHALOM SEMINARY Bridging the Gap

Past Articles:
HOME IS WHERE THE IS

By: Karen Behfar



Tips for Preparing

Your House for Sale

4 tips to improve curb appeal:

Wash all windows inside and out.

Replace welcome mat.

Powerwash exterior surfaces.

Ensure that exterior lights are working.

4 tips to make your house feel like

a home to buyers:

Unclutter your home. This shows more accurately how spacious the room is.

Let the light in. Brighten up rooms, part the blinds, etc.

Clean up! A clean home will allow buyers to picture themselves there.

Replace burned out light bulbs.

Tight Market –
Be Prepared!

Seems like buyers are being put in a tough position these days. Homes are getting grabbed in a relatively short amount of time. Buyers just barely get through the door, look around, bring their family in, and BOOM there’s a contract that was already sent to another buyer. We’ll, it’s happening all around the country. Here are the median number of days that homes are on the market nationwide.

30 days or less

New York (that we know…)

Alaska (seems like igloos are
becoming extinct)

Idaho (those potato sales are racking
in millions)

California (sunshine all year makes the
homes more attractive)

40-60 days

Florida (too busy relaxing and
vacationing – can’t make a quick decision)

Hawaii (I guess it’s best for a
vacation spot)

New Jersey (inventory is sky-high)

The Importance of Obtaining a Pre-Approval Letter

When asking clients about getting pre-approved one of the most common answers I receive is, “When I find the house I’ll worry about it.” People don’t want to bother with getting pre-approved
until they really need it. However, they don’t realize that it can cost them!
I recently had a situation in Brooklyn that had to do with a potential buyer. Hehad called me earlier in the year to find out about monthly mortgage payments. I referred him to a mortgage broker
and tried explaining to him the importance of getting pre-approved, but he shrugged off the suggestion. A new home came on the market and heput in an offer for the house, along with many other hopeful buyers. When my client’s offer was presented to the savvy seller, the seller asked for the pre-approval letter and inquired as to his financial situation, to verify how strong a buyer he was. The buyer didn't have anything ready, and the family member who was supposed to co-sign for him was out of the country for the week! The seller quickly moved on to the next best offer and accepted it. My client called me up the next day. He realized that sometimes you have to learn your lesson the hard way. He was now ready to get pre-approved! In this seller's market, it is not worth it to learn the hard way! Get pre-approved early on!

How Supply and Demand Impact Real Estate
Home Values

The concept of supply and demand is a simple one. The best time to sell something is when supply of that item is low and demand for that item is high! This guarantees that the price paid for that item increases as supply lowers. This is exactly what is happening in today's real estate market!!

According to the NAR (National Association of Realtors) 14,904 homes sell in the US every day!!

Think New York prices are too high? Think again. In Aspen, Colorado there are such high real estate prices that
the cheapest listing in 2011was a $559,000 trailer!