10 years ago, I gave up caffeine and soda. It wasn’t that hard. You are probably thinking you could never do it. But if it was the right thing for you, I bet you could!

Changes seem scary at first, but once you jump in and commit, you might surprise yourself.

It’s Fall and with the change of season comes a change everywhere. It just feels like a great time for fresh beginnings and new endeavors.

Right now, my son is in his senior year and it’s a big change in our house. He is a lot more independent, he’s driving himself now and soon he will be headed off to college. I’m finding more time to dedicate to work. And if that isn’t a big enough change, my husband is retiring after 34 years with the FAA. I’m not going anywhere anytime soon, so it’s exciting to enter this next chapter of my life.  And it’s kind of perfect timing for this change, because WE ARE BUSY!

Real estate is still hot. We are signing contracts and having closings like never before. Interest rates are still historically low, even under 3%. It has been non-stop since the original Covid shut-down. We aren’t sure when things will settle back to normal (or the so-called “new normal”) and if and/or when this bubble may break, but we’re handling everything thrown our way. 

My best advice for anyone looking to buy or sell right now is to make sure it’s really what you want to do and you are going in prepared and educated. Bidding wars are happening more than ever. I hear from buyer after buyer that they have made over 10-20 offers and keep losing the house. So position yourself with all the information you can so your offer will be accepted.

One tip I wanted to share is if you plan to offer more than the listing price of a house, and are waiving the appraisal contingency, (which I don’t recommend, by the way) you have to be prepared to come up with extra cash if the house doesn’t appraise at the full value of the purchase price. Looking at recent stats from OneKey Multiple Listing Service, the median sale price for a home in August in Nassau County was $670,000, which is up 12.9% from this time last year. In Suffolk County the median sale price was $535,000, which is 17.6% higher than last year.

I’m seeing 3 out of 10 appraisals coming back lower than what people are going into contract on. For example, a house is listed at $400,000. The ultimate price is $450,000. But when the bank does the appraisal, it comes in at $425,000. If you are applying for a mortgage of 80%, that means the bank is only going to lend 80% of the appraised value. So, you would have to come up with the difference, or approximately $20,000 more. Great if you have it, but not so great if you don’t. If you are declined because of the appraisal, and you waived the appraisal, your down payment could be at risk if you don’t close. There are ways to structure an offer so that you are protected and put your best offer forward at the same time. Give me a call if you have questions.

More change is happening in the office. Debbie is taking some time off and a new paralegal, Michelle, has joined our team.

Sometimes it’s the smallest of changes that makes a big deal. I bought a new car, a Kia Stinger, a few months back and I usually keep it in “sport” mode when I drive. I recently changed it to “eco” mode and my gas mileage is now almost 28 miles a gallon!

I switched over as I was driving to see my family, another very welcome change. I haven’t seen my sisters for a long time and we all got together for my niece’s bridal shower (her wedding is in a few months!)

If one of the changes in your life was a child going off to college, call me to get a power of attorney and health care proxy in place. It’s a quick and easy process. 

Lastly, don’t change your number! Haha, this is just a joke, but really, it’s been so busy and even though it might take me just a little more time to get back to you, you know I always will.

Happy Fall!