Long Island Housing Data for December

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

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

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

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

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 16th 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.

 

Long Island Housing Data for November

As reported by MLSLI: The closed median home price on Long Island, which includes Nassau, Suffolk, and Queens, in November 2011 was $345,000 representing a 5.5% decline over the year prior. Nassau County reported a closed median home price of $380,000 representing a 5% decline from $400,000 reported in October 2010. Suffolk County reported a closed median home price of $310,000 compared to $320,000 in October 2010. Queens reported a closed median home price of $337,750 representing a decline of 12.3% over last year's home prices.

Contracted sales activity was slightly higher in November 2011 than in November 2010 which is a positive sign for the local real estate market.

The housing affordability index continues to be strong supported by historically low mortgage rates and more affordable home prices.

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

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

Rent vs Buy - Research Findings

Should individuals buy or rent? What is the evidence on this question? What is the present condition of the U.S. housing market? Relatively speaking, how affordable is housing today? Is the market turning around or are we headed for another dip?

These and other questions are answered in the attached PowerPoint presentation created by Ken H. Johnson, Ph.D. -- Florida International University (FIU) and Editor of the Journal of Housing Research

http://realestate.fiu.edu/buyer-or-renter-nation.html

 

Six Inexpensive Ways to Add Curb Appeal

Many individuals interested in selling their homes are already aware that curb appeal is crucial. Making a good impression on potential buyers before they even step inside will assure that your property is memorable, but more importantly, making a bad impression will hinder your chances of selling your home--regardless of how charming it is inside. The following tips will allow you to amp up your curb appeal without breaking the bank.

"Many homeowners who are trying to sell think that increasing their curb appeal has to be a pricey affair involving landscapers or a new front porch," says Lawrence Finn, CEO of Coach Realtors. "But there are a great deal of small, inexpensive things you can do for the outside of your home that will make the overall appearance much more appealing." Mr. Finn suggests these simple do-it-yourself projects, all of which will take less than one afternoon, and cost you 100 dollars--or less!

Flower Boxes. Putting flower boxes under your windows will give your home a pop of color and increase the overall charm factor of your property. All it takes is the boxes themselves--which are usually under $35--some soil, and plants. Not interested in flower boxes? A few potted plants lining your porch, steps or walkway will do the trick as well.

Repaint Your Accents. Repainting the accents of your home--including the front door, trim and shutters--will give your house a fresh, clean look. Choosing a bold color will make your house stick out, but even playing it safe with a neutral tone will make your property appear clean and well cared for.

Replace Your Numbers. Many houses have old, faded or rusted numbers. Buying new, modern numbers--or even customized numeral plaques--can really help the look of the front of your house. This is a small detail that is often overlooked but can have a really nice effect.

Plant a Garden. Planting a small flower garden in the front of your house will give your home a warm, inviting look. Foliage adds instant curb appeal. If you don't want to tend to flowers, consider planting a tree.

Detailing. Adding interesting details, such as a bird feeder or birdbath, will improve the appeal of your front yard. Inexpensive stepping stones trailed throughout a garden or up to the front door are also attractive touches.

Mailbox Makeover. Getting an upgraded or customized mailbox adds great detailing to the front of your house. Whether you opt for a mounted box on the side of your home or a curbside container, having a mailbox that stands out is a nice touch.

"There are many different low-budget options for bolstering your curb appeal," says Finn. "Doing so will immediately make your home more inviting, assure a great first impression and enable a faster selling time."

Long Island Housing Data for October

As reported by MLSLI: The closed median home price on Long Island, which includes Nassau, Suffolk, and Queens, in October 2011 was $345,000 representing a 4.2% decline over the year prior. Nassau County reported a closed median home price of $384,000 representing a 9.1% decline from $422,250 reported in October 2010. Suffolk County reported a closed median home price of $305,000 compared to $325,000 in October 2010. Queens reported a closed median home price of $346,000 representing a decline of 1.1% over last year's home prices.

Contracted sales activity was slightly higher in October 2011 than in September 2011 which is a positive sign for the local real estate market, but pending sales were off by 1.6% from October 2010.

The housing affordability index continues to be strong supported by historically low mortgage rates and more affordable home prices.

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

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

Thanksgiving Decorating Made Simple


Thanksgiving is a relaxing holiday based solely around food and gratitude. A nice decorative atmosphere would enhance the dining experience as you and your guests are enjoying mouthfuls of turkey, yams and stuffing. Decorating for Thanksgiving doesn't have to be difficult or expensive. With these simple and affordable tips, you can give your home a festive, fall look that everyone will enjoy.

Bold fall colors should be used as much as possible when making any decision regarding décor. Use many of the same colors as some of the traditional food you'll be serving. Yellows, oranges, browns and reds set the perfect tone for any fall-themed meal. Try incorporating them any way you can, including placemats, serving utensils and dishes. A colorful centerpiece would also work nicely for your holiday table.

Go outside and get inspired. The autumn season is all around us, so go outside and look around. Brightly colored leaves, berries and pinecones are just a few examples of items that could be garnered for decoration. Fill a large vase with some of these natural beauties for a decorative centerpiece. Things like pumpkins and hay bales also make great indoor and outdoor decorations. Use them sporadically for that extra fall feel.

For those with eager children, a fall garland can be a fun project to get them involved. Use red and orange leaves, or even use construction paper for cut-out turkeys or pumpkins. This will not only decorate your home, but keep the children occupied while you get some cooking and cleaning accomplished.

Thanksgiving-themed towels, pot holders and candles are also great ideas. Hand towels in bathrooms can carry the theme outside of the kitchen, while sweet smelling candles can do the same for dining or living rooms. A few bottles of red wine can also add to any autumn-colored display or centerpiece.

With all of that cooking to do, you may not have time for complicated and time-consuming decorating. With a little creativity and these fun and festive tips, you can create a wonderful atmosphere for you and your family.

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