Dear Friend/Neighbor/Customer,
Happy New Year to you !
We are now heading towards our Spring Real Estate season, and home buyers, home sellers, and investors are all being
cautious about the Real Estate market as we head into 2006. We have seen tremendous appreciation of our local real
estate market over the last 5-6 years, so where are we headed next ? To be truthful, the jury is still out on this.
The press has recently been touting an overblown market, but there are still some serious counter-reasons that
indicate that this bull market may continue upward.
This is Doug Hayman's January, 2006 Real Estate Newsletter Edition.
WHERE IS THE REAL ESTATE MARKED HEADED ?
One cannot help hearing all the talk about a housing bubble burst, in the news these days. As we all know, we have
seen a large run-up in housing prices over the last 5-6 years on Long Island. Have prices peaked for the short-term ?
Will we see a correction in housing prices in the short-term ? If so, how much of a correction will we see ? Unfortunately,
if I owned that magical Crystal Ball, and had such information at my disposal, I would be a very, very wealthy man !! However,
there are some educated guesses that we can make based on history, and as such, logic that can be applied to our housing market
decisions:
The big determining factor will inevitably be the direction that Interest Rates take, as we move forward. The
new FED chairman-to-be, Ben Bernanke, is said to be slightly more tolerant of rising inflation than Alan Greenspan has
been, and this may be a sign that the continued short-term Interest Rate hikes may abate. This would certainly be
a boon (or at least a non-negative sign) for the real estate market. If rates continue to rise, this can
have an adverse effect on housing prices (naturally), BUT this will also mean that buyers have less purchasing
power, buyers will be able to mortgage less, and the cost per dollar mortgaged will increase. So, an upward bias in
Interest Rates isn't necessarily a good thing for buyers - falling (and hence, cheaper) home prices will be offset
by increased mortgage costs. This is an important thing to remember. Hence, waiting for prices to "fall" before
purchasing, may not be the most prudent tactic moving forward.
Here are some reasons supporting the hypothesis that the market has peaked:
Here are some reasons supporting the idea that the market will continue upward:
Additionally, here are some additional points that may assist you in deciding if it's the right time to buy or sell:
GET YOUR FREE ANNUAL CREDIT REPORT
You can now get a FREE annual Credit Report, from each of the 3 big Credit bureaus. By calling the
toll-free telephone number of 1-877-322-8228, you can make the request to receive a free report from
Equifax, Experian, and Trans Union. You can do this once every 12 months.
Alternatively, you can make the request by U.S. mail, by sending in a request form (obtained by visiting
the website www.ftc.gov/credit, and mailing
the filled-out form to:
Credit Report Request Service
Finally, you can also obtain these 3 free credit reports online, by visiting the following website:
AN INTERESTING MORTGAGE PROGRAM FOR 1ST-TIME HOME BUYERS
Here is an interesting mortgage program for 1st-time home buyers, that has recently been advertised.
Please check with your mortgage broker or bank, to see if such a program (or variant) is available to you:
NEW LISTING IN MOUNT SINAI ($ 495,000)
This new listing of mine in Mount Sinai, is an exquisite Imperial Gardens Colonial. It is situated on a private 1/2+ Acre
on a corner lot in a quiet, residential community. It includes a rustic Den with built-In bookshelves and a fireplace, has large
and tastefully deocrated living room and formal dining rooms, has a huge master suite with an additional nursery/den/office
and Jacuzzi, a large 22 x 40 in-ground pool, 2 decks, and Anderson windows throughout the home. Furthermore, the house has 4
oversized bedrooms that are a real plus for families. A true Must See !
The full MLS listing can be viewed at:
Further, if you would like to see a complete Slideshow presentation of this house (with a great musical background), please visit the following website, and
click on the "Slideshow" link on this page:
Mount Sinai Colonial Slideshow Presentation
I suggest to bring offers quickly, because this one won't last ! It's a great buy in today's market !
FIND THAT PERFECT DREAM HOME
As a Licensed Real Estate Agent in Miller Place, I can now offer my friends
and neighbors a Special Service -- "Find that Perfect Dream Home
On-Line". Simply click on the "Find your perfect dream home on-line" link
on my personal Real Estate website (http://www.expss.com/RealEstate.htm)
and fill out the requisite information, or alternatively reply to this Email with the
following information:
After receiving this information, I will automatically set up a FREE Prospect
Match for you in the MLS Stratus database system. On a nightly basis, all
homes that match your specific criteria will be Emailed to you, with full descriptions (much
more detailed than what's available elsewhere on the Internet - e.g., MLSLI.COM)
and pictures. That way, you can investigate the property, to see if it is to your liking
before actually having me show it to you. When you see something you like on the Internet,
then just give me a call, and I will be happy to show it to you ! It won't
cost you any more to call me, since real estate commissions are paid directly by the
seller, and are always split between any real estate agents involved. Now what better way is there
to shop for that perfect dream home, than to do it on-line, in the privacy of your own home !
I must say, that my current Customer base absolutely loves this feature. They have found it to be extremely
flexible, detailed, and convenient, to say the least. I have helped several of my customers land home purchases,
as a direct result of this extremely focused technology. Those who don't have computers, or who aren't on the
Internet, truly don't know what they are missing.
REAL ESTATE SERVICES AND WEB SITE
To showcase more of my services, I have designed a free Internet web site
(http://www.expss.com/RealEstate.htm) which contains
a wealth of valuable Real Estate information that you can utilize at any time, whether you are a buyer, a seller, or
are just interested in Real Estate. I strongly recommend that each of you view it and utilize its
capabilities.
Should you or anyone that you know require my Real Estate services, please do
not hesitate to contact me at any time, by telephone or via Email. I look forward to serving
your for all of your Real Estate needs this Spring and beyond.
Best Regards,
NOTE:
P.O. Box 105281
Atlanta, GA 30348-5281
Additionally, I offer a free CMA (Comparative Market Analysis) service
to determine what your home is currently worth in today's market, if you are considering to sell. If you are
contemplating purchasing a home, please contact me, and I'll make sure I disseminate information to you about the
areas that you are considering.
Douglas R. Hayman
NYS Licensed Real Estate Agent
Century 21 Rustic Realty
765 Route 25A
Miller Place, NY 11764
Work: 631-744-5300 x213
Fax: 631-744-5403
Cell: 631-902-1478
Email:
Web:
http://www.expss.com/RealEstate.htm
P.S. Reciprocally, please do not hesitate to send or email me your
business card for referrals.
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