Blog…What’s Brewing
We have all made purchases in the past, but how many of them were based on negotiating a price? Buying a vehicle, something on Ebay, Marketplace or other similar sites, maybe? Consider this, a sale or purchase of real estate is one of the largest sales or purchases a person makes in a lifetime where the price, terms and conditions are all negotiable! The commission paid for a sale or purchase is also negotiable and always has been. Time to call a pro! Let’s learn about how commissions are paid and who pays. You will discover the very reason why representation is crucial to achieve your real estate goals. Read on.
- The landscape of real estate began to change on August 8th when all MLS services (Multiple Listing Service) were no longer permitted to publish a fee to the buyer’s agent in accordance with the NAR (National Association of Realtors) lawsuit settlement. In addition, as of August 17, all buyers are required to sign a touring agreement before touring a property, also in accordance with this lawsuit. It is also prominently noted that real estate commissions were always and continue to be negotiable.
- What this means to sellers is that the commission paid to the buyer’s agent is negotiable. It can be a straighforward buyer’s agent commission which is a % of the purchase price, a seller’s concession, a flat fee OR the buyer’s agent can request commission with their offer. This is negotiable! These options move a seller towards the most important goal of the sale which is to net the most. Our commission as a listing agent is also negotiable and commensurate with our skill and knowledge.
- What this means to buyers is that they will need to sign a touring agreement with their agent. This agreement is negotiable! The terms of the agreement will be in accordance with the wants and needs of the buyer. A buyer’s agent can receive compensation from the buyer, from the seller through buyer agent compensation, or from the seller’s concession to the buyer.
There is a lot to process here! These points need further explanation and will be discussed in a seller and/or buyer consultation. Schedule your no obligation conversation by clicking here. Education, advocacy and your best interest is our top priority and that is NOT negotiable!
Why You Need a Buyer’s Agent. Like any endeavor, having an experienced professional is vital to successfully attaining your goals. You need someone in your corner representing you and giving you the advice you need to make your best decision.
Experienced Buyer agents:
- deeply understand local neighborhoods and current local market trends and values
- can access both on and off market home inventory
- advise you on finding your perfect home and effectively negotiating offers, counteroffers and multiple offers
- connect you with their network of experts like lenders, home inspectors, attorneys and quality home repair and maintenance people
- efficiently navigate the contract, inspection, appraisal, title and closing process
Experienced Seller agents:
- deeply understand local neighborhoods and current local market trends and values
- negotaite offers, counteroffers and multiple offers
- are a resource and connect you with their network of experts like attorneys, and quality home repair and maintenance people
- efficiently navigate the contract, inspection, appraisal, title and closing process
- has a solid marketing program that includes professional photography and video
- has an online presence on a website, social media and Google Business
ne·go·ti·a·ble adjective open to discussion or modification.
We take pride in the way we care for our clients and we want you to understand what we do, why we do it and how we get it done. Driving you home!
THE RONALD MIDILI HOME TEAM
“Our mission is to help you to understand the real estate process and all things involved with it. We educate to help you gain clarity about your goals and dreams whether selling, buying or investing. We are intentional about our actions and are committed to timely communication. We offer guidance and resources for you and your most valuable asset.”
Elisa Bruno-Midili of the Ronald Midili Home Team at McGrath Realty Inc, has been selected as a 2024 Five Star Real Estate Award winner for the 13th consecutive year! Five Star Real Estate Agents are selected based on consumer evaluations, production and business information. Only outstanding professionals who provide quality service and care are chosen to receive this award.
“I am honored to receive this award, it’s a testament to the consistently excellent client experiences we provide,” said Elisa. The team and I are intentionally focused on the client’s needs, wants and desires. Real estate is complicated and confusing and we provide a stress free experience because we educate and advocate for our clients. There is nothing better than great client service and making a real estate dream come true!”
Elisa Bruno-Midili was first licensed in 1987 and continues to serve sellers, buyers and investors in and around the Hudson Valley and Connecticut. The Ronald Midili Home Team is a newly formed collaboration between Ronald Midili and Elisa Bruno-Midili, a husband wife team. Contact Elisa via call/text 914-912-1355 (m).
Tucked away in the Hudson Valley is Mohegan Woodlands a summer community of cottages. The minute you step onto this 8+ acre compound you can feel a sense of community and belonging. The 29 strategically placed cottages were constructed in the 1940’s to attract city dwellers to the northern suburbs.
Mohegan Lake, in the 1920s, was a resort destination with several luxury spot along the banks of the lake. Families came here in the following decades to create memories. Today Mohegan Woodlands offers the same respite from hectic city life. Many of the cottages are heirlooms passed down for 3 generations. A sense of happiness and calm is included with the sale. And it’s worry free because there is a maintenance provider on site year-round.
The community has an inground pool, tennis, basketball, playground, handball, open fields, and social hall. Located in the town of Yorktown within the Hudson Valley and nearby fine dining, farms, hiking, historic sites, shopping and the Hudson River. Peace and serenity surround you as you unwind and relax. Buy now and be ready to enjoy this summer!
Summer occupancy only April to October. Under 1 hour from NYC, and 90 minutes from Brooklyn! So close yet worlds away!
FOR SALE
Cottage 16 $125,000 – 3 bedroom original charm
Cottage 22 $150,000 – 3 bedroom with some updates
The #1 homebuyer obstacle is affordability followed by discrimination, mortgage access and agent performance according to the National Association of Realtors (NAR) latest consumer survey. Measures are being taken to reduce these barriers by NAR so that the economy can thrive.
Affordability in the housing market is of great concern. Rising rates, low inventory and inflation on the rise!
In this time of uncertainty there is a great new tool from our local MLS called the Downpayment Resource. You will find down payment help here. You do not need 20% down to purchase a home!
You don’t need 20% down.
A 20% down payment on a home is great, but it’s not a requirement. Many mortgages require no more than 3% to 5% of the purchase price as a down payment. Plus, there are loans and grants that may help cover these costs. Search for down payment assistance in your area, and let’s discuss your results!
4 Common Down Payment Program Myths Debunked – Down Payment Resource
5 Ways You Can Benefit From Down Payment Programs
- Helps you to purchase a home sooner.
- Helps offset FHA premiums and mortgage insurance.
- Helps community service employees live close to their job.
- Gives you an important cash cushion.
- provides valuable homeownership education.
If you like what you are reading in this blog please contact Elisa, Associate Broker, The Ronald Midili Home Team at McGrath Realty Inc, a 35+ year residential expert. We specialize in a delivering an educational and stress-free real estate experience.
This was originally published May 2022.
914-912-1355 call/text or Ebruno@ElisaBrunoMidili.com
Elisa Bruno-Midili is a local guide, Realtor and small business advocate. A Westchester resident for about 45 years she grew up in the Bronx in the 60s and attended school in the 70s. Elisa always considered herself an artist expressing herself through design, photography, graphics and now as a curator of content.
EARTH DAY 2022 – APRIL 22 The theme is Invest In Our Planet! It’s NOT just a day, it’s a movement. Find out more information here www.earthday.org
The environment is a treasure and needs that delicate balance to be protected and preserved for a future of sustainable living. Many areas of the earth are in jeopardy. The work of earthday.org is vast. Here are the areas of concern which are the focus:
- Climate and environmental literacy
- End plastic pollution
- Conservation and restoration
- Food and environment
- Act on climate change
What is happening in your community to assist with the awareness to REDUCE, REUSE, RECYLE ?
🌎Creative use space https://www.retake-remake.org/ is the brainchild of local entrepreneur Barbara Korein. The mission is to promote creative reuse, environmental awareness and community by providing affordable, reclaimed art materials.
🌎 Artist Natalya Khorover‘s mission is Art for Earth’s sake. She uses materials that many consider to be trash. This repurposing creates amazing canvases that are architectural, organic, purposeful and delightful to view. Her work can be found here https://www.artbynatalya.com/
🌎 Sculptor Wilfredo Morel is a highly acclaimed Hudson Valley Region artist known for his utilization of recycled materials, related to the communities where materials are found. As such his work provides a powerful symbolic model for art as a focal point in urban renewal, emphasizing a revitalization of discarded and neglected resources. http://wilfredomorel.com/
🌎 Protecting our natural resources is essential. Riverkeeper https://www.riverkeeper.org/ protects and restores the Hudson River from source to sea and safeguards drinking water supplies, through advocacy rooted in community partnerships, science and law. SATURDAY MAY 7 Riverkeeper Sweep – 9am-12pm. Join in for a clean up by the river. Kayak Launch, Tarrytown, Lot G. Info: https://tarrytownenvironmental.org/
🌎 Ossining is on board with the Annual Earth Day Festival on April 23rd, Westchester County’s largest community-run earth day festival. https://www.greenossining.org/earth-day-festival/
🌎 Bedford 2030 envisions a carbon neutral world and aspires to a sustainable community that conserves natural resources for future generations. See more about their mission here https://bedford2030.org/
🌎 Towns in Westchester county participate in programs and initiatives as a commitment to environmental justice and sustainable practices. https://sustainablewestchester.org/
🌎 Food scraps are one of the largest components of trash sent to landfills and incinerators. However, food scraps are not trash, they are a resource that can be turned into useful compost. Many town have this program, does yours? If so are you doing your part?
https://www.yorktownny.org/refuserecycling/food-scrap-drop-site
https://www.scarsdale.com/495/Food-Scrap-Recycling
https://www.mynewcastle.org/452/Food-Scrap-Recycling-Program
https://www.mountkiscony.gov/residents/food_scrap_recycling.php
There are many resources to explore where we can be responsible and accountable for how we treat the earth and all its beauty!
Make every day Earth Day!
Elisa Bruno-Midili is a local guide, Realtor and small business advocate. A Westchester resident for about 45 years she grew up in the Bronx in the 60s and attended school in the 70s. Elisa always considered herself an artist expressing herself through design, photography, graphics and now as a curator of content.
It’s mid-April, spring is finally here, and economic unrest is on the minds of many.
How do we spring into action when there are so many factors affecting the housing market and our lives in general? Let’s explore!
- Baby Boomer Sellers – Those born between 1946 and 1964, live in 46 million owner-occupied homes with a total combined value of $13.5 trillion, according to research. These sellers are finding it challenging to make a decision to move. The question being “Where do I go?” This problem has contributed to the shortage of inventory. They are also competing with millennials who are purchasing a home for the first time. These homes are often smaller and less costly therefore desirable to both groups.
- Millennial Buyers – 4.8 million millennials turned 30 in 2021 and the desire for homeownership is peaking for this group.
- The Great Resignation – Many people are reconsidering their jobs with a fresh perspective and they are quitting due to the unsettling nature of the pandemic, Also called The Great Rethink causing the examination of a company’s culture and opportunities. This is reported by Harvard Business Review in a March 2022 article. A more purpose driven life and meaningful work is the catalyst.
- The Great Reshuffle – This term is synonymous with the Great Resignation and describes workers being strategic about their careers/employment. Remote work, flexible work hours, 4 day work weeks and more freedom are trends that will continue to disrupt the traditional idea of a job/career. Employers are developing ways to incentivize their employees.
- Inflation Mindset – Supply and demand issues persist, prices are increasing in almost every sector of the economy, and 8.5% inflation is the highest in 40 years!
- Political Milestones – The first Black woman, Ketanji Brown Jackson, will serve on the nation’s highest court. Never in 233 years has this happened, this decision is immensely important to the advancement of women and people of color. Positive news helps with general morale.
- War in Ukraine – It is unsettling to think that a war of this nature is happening. Supply chains are disrupted which greatly affects the housing industry. Sadness and heartbreak for this nation brings concern about US involvement and what the future may bring.
- Homebuyer Obstacles – Affordability is the #1 reason plaguing homebuyers followed by discrimination, mortgage access and agent performance according to the National Association of Realtors (NAR) latest consumer survey. Measures are being taken to reduce these barriers by NAR so that the economy can thrive.
Real Estate is a very noisy environment and in order to cut through the fog, home sellers and buyers need a reliable advocate on their side. A trusted advisor to interpret data and explain the market and the process. Great resources are needed to advocate for clients.
Bottom line is that we have many options when it comes to our lifestyle and life/work balance. Sparking joy in your life is a priority! There is a surge in entrepreneurship with 5.4 million applications submitted in 2021, this trend will continue as people have the time and resources to reconsider their purposeful life.
If you are considering selling or buying in 2022 our team has the time to listen, the resources to share and the skills/talent to assist in the home selling or home buying process.
If you like what you are hearing in this blog please contact Elisa, Team Leader with The Café Residential Team at McGrath Realty Inc and 35 year residential expert. We specialize in a delivering an educational and stress-free real estate experience.
914-912-1355 call/text or Ebruno@McGrathRealtyInc.com
What should a buyer expect from their Realtor? A Realtor is hired to represent a buyer in the purchase of what very well could be the largest asset of their life, so what is expected?
Firstly, understand that the Realtor/buyer relationship is a partnership and there is a team necessary to complete the process. Buyer, agent, loan officer, financial advisor, attorney, title company, inspector, and brokerage support. When all parties to the transaction are in sync it creates a smooth, seamless experience.
Setting expectations – It starts with a dialogue that explains the market and buying environment. Right now it is a seller’s market so buckle up and be ready to listen to the strategy for this type of market. Inventory is at historic lows, rates may be rising, and pent up buyer demand looms.
Finding your property – Be enrolled in a portal and on the agent’s website to get notified of any new properties. Response time will be critical from scheduling a showing, to making an offer, to doing an inspection. A new property on the market means getting in to see it immediately and acting quickly.
What is needed – A current preapproval from a reputable lending institution. The choices are a retail bank, a mortgage bank and a mortgage broker. Ask your Realtor which is right for you. Please note that your financing options, downpayment amount are important factors. Is your team ready to perform? Have an inspector and attorney on standby.
How to win an offer in a multiple offer situation – Be prepared with your preapproval, proof of funds, inspector, and attorney. Be sure your Realtor composes the offer to purchase email to include the facts: you have an attorney and inspector on hand to perform quickly. Include any timing issues with closing and be as flexible as possible. When involved in a multiple offer situation remain calm, remove your emotions as to not get disappointed if your offer is not accepted. Think of it as a business transaction although you are in love with the house! Put in your BEST offer, this could sometimes be 20% more than asking. Be sure to ask for comparable SOLD properties as well as PENDING properties to see how much the market has accelerated in the past 6 months. This will help to determine where to start. Some buyers are willing to overpay for a home that you do not think is worth it…it happens. If this is you, then the home has absolute value and overpaying should not be an issue. If you do not want to overpay in this highly competitive market, expand your search into an area with less buyer competition or seek other options. Offer to pay closing costs, for the seller to rent back with no charge, to pay moving costs. Contingencies are often waived such as inspections and appraisals. Discuss these points to see what your options are. Tactics may add value to your offer in addition to purchase price. Don’t give up!
Buying a home is an exciting time, enjoy the process, you WILL find the right home with a knowledgeable Realtor!
If you like what you are hearing in this blog please contact Elisa, Team Leader with The Café Residential Team at McGrath Realty Inc and 35 year residential expert. We specialize in a delivering an educational and stress-free real estate experience.
914-912-1355 call/text or Ebruno@McGrathRealtyInc.com
Guide to a Stress-Free Moving Experience: 10 Tips from a Real Estate Pro
Your home is your sanctuary, your abode, your domicile, the place you go to when you seek shelter, comfort and solitude. You may be thinking of selling because it’s too much maintenance, the taxes are too high, or your lifestyle has changed.
When getting ready, an important thing to realize is that the only good time to put your home on the market is when you are ready. The market has its seasonal cycles, holiday gyrations and Super Bowl Sunday myths but you are the only one who can make the mental and emotional decision to move. When you do, you are half way there. Mindset is the first and foremost thing that must change in order to be successful the rest of the way.
It’s also good to know where you will go! Have a destination in mind and visualize the kind of lifestyle you desire. Where do you want to go? What do you want to be near? What kind of weather is best for you?
When your decision to move is made consider the following tips:
- Do speak to an expert Realtor for market trends and values in your area to get an idea of what your options are for selling. Your Realtor is your guide, a communication channel and a resource for all of your real estate needs, questions and problems.
- Do consult your financial planner, accountant and/or attorney to discuss the financial impact this decision will have for you.
- Look around…are you surrounded by years of collections, furniture and your kids’ stuff? Make 3 lists: 1. DONATE/GIVEAWAY 2. SELL 3. TRASH. Whatever is left, take it with you and since you have decided to move pack that extra stuff away and store discretely in the home or off-site. RESOURCE: https://www.gominis.com/ and https://clancymoving.com/
- Check with your city or town to be sure everything is legal: additions, decks/patios, finished basements/attics, fireplaces/wood burning stoves, pools/hot tubs, oil tank removal paperwork. The building department should have the documents on file. Just because you bought it that way does not mean it won’t be a problem now. RESOURCE: https://consumer.westchestergov.com/local-building-dept-contacts
- Check to be sure everything is up to code and safety standards: railings, deck and stairway spindles, smoke/fire/carbon monoxide detectors, electrical outlets, fireproof sheetrock over heating system, steel door in utility room, ventilation, electrical connections, mold in basements/attics, GFCI outlets, peeling paint, broken, windows, leaking roof. A pre-inspection will uncover things that may need repair.
- Replace loose deck boards, patio stones, walkway railings, pool fence enclosures, light bulbs, hardware, HVAC filters, broken screens, non-working appliances.
- De-clutter by packing items that you are not using: personal photos, holiday décor, extra knick-knacks, souvenirs, religious items. The goal is to make the place as inviting and neutral as possible with some flair.
- Contact a professional stager for advice about furniture placement, paint colors, wood flooring stain, carpeting, window treatments, lighting and accessory placement. Paint does wonders for any room! RESOURCE: https://therefreshedhome.com/ and https://organizingwisdom.com
- You only have one chance to make a first impression, the curb appeal consists of landscaping, the front door and an overall feeling when a buyer drives up to the house. Put away hoses, garbage/recycling bins, toys, remove dead/artificial plants. Decorate seasonally and simply.
- Always speak with your Realtor before starting any project, an expert will know if your expense will be worth your time, money and energy.
BONUS RESOURCE: Are you a caregiver or do you know someone who is? This resource page has many options. https://www.realestatecafeny.com/resources/?cn-s=&cn-cat=22
The intention is to create a near perfect condition situation to obtain the highest value producing stunning photos and video. The better it looks the more attractive it will be. The more attractive the more interest and that means possible multiple offers and more profit for you! Your agent may be experienced in helping with the staging but if it needs a facelift for optimal value then a stager consult is an inexpensive and valuable resource.
These are some pre-listing preparation tips to encourage you to get started before you choose your moving timeline, logistics and ultimately the agent who will represent you.
If you like what you are hearing in this blog please contact Elisa, Team Leader with The Café Residential Team at McGrath Realty Inc and 35 year residential expert. We specialize in a delivering an educational and stress-free real estate experience.
914-912-1355 call/text or Ebruno@McGrathRealtyInc.com
“Should I sell in 2022?” 10 Things to Consider
Is this a question you are asking right now? We get it a lot!
So is it a good time to sell? The short answer is, YES it is a good time if you are ready!
Interrupters in real estate are ongoing and ever since the pandemic we are on high alert for new trends. There are positives and negatives so a trusted advisor is best to answer any questions you may have.
The Café Residential Team insures a safe, stress-free, educational experience. We are available virtually and in-person. Safety is of utmost importance next to giving you sound advice and guidance.
Here are the 10 most important things to consider when thinking of selling:
- Make the decision that selling meets your needs for where you are in your life.
- Decide where you will go. We assist with options.
- Preparation is key to obtaining the best value. We assist with this process of what to do with your “stuff” and how to best prepare your home for optimal value.
- Do you want to know what needs to be done to get the most for your home? Small changes may have a big return.
- A robust market is expected, not as frantic as 2021. Will you benefit from selling this year?
- Buyer demand is high because inventory is low. Competitive pricing will bring more than one offer. We will explain how pricing and a multiple offer situations work.
- City dwellers and those living is densely populated areas are looking for more privacy and sanctuary. A yard is on the top of the list for buyers. Make whatever outdoor space you have appealing.
- Remote working is widely accepted as the new norm. Does your home have a space for a home office?
- Digital systems and tools are essential. Choose a Realtor with great presence and proven results.
- It’s a seller’s market right now in most areas and sellers are in control. Structure the sale of your home around your schedule.
The more you know about selling, the better off you will be when it comes time to hire a Realtor to represent you. There is a difference between an agent and an agent who is a Realtor. A Realtor is bound to a strict code of ethics pertaining to our duties to clients and customers. Code of Ethics
If you are planning to sell in 2022, we welcome your questions. We are a team with over 100 years of experience and look forward to serving you, your family and your friends with their real estate needs.
For a confidential appointment and consultation contact:
Elisa Bruno-Midili
914-912-1355 mobile
Team Leader/Associate Broker
The Café Residential Team
McGrath Realty Inc
295 E Main St
Mount Kisco, NY 10549
914-666-7792
Cafe Realty teams up with the Hudson Valley’s most prominent commercial, land development and luxury brokerage, McGrath Realty Inc. After 8 years in business the community focused Cafe Realty will use their strengths, talents and skills to become the new face of McGrath Realty Inc’s residential services. Café Realty will take the new name The Café Residential Team with long time partners Carol Christiansen, Elisa Bruno-Midili and Walter Sadowski in leadership positions.
“We were looking to expand yet stay local, independent and community-focused, this is the perfect opportunity to do so!” explains Elisa Bruno-Midili. “Our talents are complementary; our service will be unparalleled; we are better together.” “Both of our companies have passion and integrity for what we do” says Carol Christiansen.
McGrath Realty Inc. is the Hudson Valley’s premier commercial brokerage firm and specializes in the sale and leasing of office, retail, commercial, industrial and land development properties. Café Realty is a local, independent, community-focused brokerage serving the residential market. The collaboration with McGrath creates a unique and complete full-service brokerage serving residential, commercial, land development, property management and the appraisal sectors of the market. The new office location will be in downtown Mount Kisco, a Westchester County hub for dining, shopping, culture and transportation.
The Café Residential Team’s mission is clear and purposeful “In all we do we aim to create an educational and stress-free real estate experience. We do this by sharing our knowledge and expertise. We listen and empower our clients and agents to make informed real estate decisions.”
How did this get so out of control?
What started out as strategic home pricing for sellers to get more than one offer, has exploded into a full scale war involving historically low housing inventory. Bidding on homes for buyers should not be a war. Adapting during the pandemic should not result in damage control. So now this…
When pricing a home for sale, if it is too far below market value it is a disservice to all involved. We must look at all aspects of the home’s market. Trends happening in a particular neighborhood, absorption rate to determine level of inventory, and the pricing of active and pending properties for accelerating market clues. When that home is too far below where it will sell, there are too many offers and too much noise.
It is a known fact that buyers will overpay for something that they absolutely must have, however, some buyers are not willing. It has been frustrating, and challenging for buyers and buyer’s agents since the asking price is no longer the baseline for the preapproval. It can be as high as 10% greater than their top buying power number! The tactics that buyer’s agents must use for the offering process is now a much more involved conversation. It may sound like this: “The list price is 500K, the sale price could be 550K.” How does the buyer proceed? That’s when you ask an expert!
Due diligence is part of the process and now a word about the appraisal. Comps, what comps? Comparable properties are sometimes non existent. How will an appraiser value this home? Will it appraise? Is this negotiated with the offer? Will the buyer’s attorney agree?
Exhausted, defeated buyer’s agent are in the trenches daily fighting to get their offer in. Listing days on market =1, accepted offer, no more showings? How is this possible? Are listing agents being fair? We do not know what their conversation was with their seller client however this sends a distress signal to the buyers. They are as stressed, disappointed and frustrated as everyone else! It is our responsibility as Realtors to let sellers and buyers know what to expect. It takes extraordinary skill to navigate this war and reassure all participants. Both buyers and sellers need a “team” to show that they are ready, willing and able. Realtor, inspector, attorney, loan officer, title rep must all be in constant communication.
An agent compared this to buying concert tickets back in the day. Show up early, get in line, have your money ready and expect not to get the front row seat! For buyers in this insane market, have a preapproval that is less than 30 days old, have money in reserves to combat low appraisals, line up the inspectors, the attorney and be sure that you are flexible with closing. Sound like the perfect storm? It may very well be and this is still no guarantee!
Want to learn more about how to approach this market? Contact us for the latest on the market! 914-666-7792.
SELLERS CLICK HERE https://caferealtyny.com/sell
BUYERS CLICK HERE https://caferealtyny.com/signup
Elisa Bruno-Midili is a co-founder and partner at Cafe Realty. She is also a Score Certified Small Business Mentor and advocate for collaboration. Knowledge, expertise and strategy is backed by a 34 year real estate career. Click here for my Instacard