House and Home February Newsletter: Danielle Carames

FEB 2022

A REAL ESTATE NEWSLETTER

First-time Homebuyer: Mistakes to Avoid

Coach Meeting House

Vendors

TRUSTED

Featured

COMMUNITY EVENTS

Happy Valentine’s Day!

C: O:

A message from…

Thank you so much for opening up your new edition of my House and Home Newsletter. I hope you find the information valuable!

This month is all about Buyers- even if you aren’t a buyer right now, you might be looking to sell your home one day- so it is important to keep up on what buyers are looking for. You’ll also find information on vendors I have used for home services, what NOT to do if you’re a prospective homebuyer and things to avoid doing as you go through the process of purchasing your next home.

For 2023 I have focused my business on working by referral. I would be honored if my friends, family and past clients would consider helping with my mission. I am hoping that you will help me with my 2023 quest to help 10 more clients on Long Island buy or sell a home and refer my services to anyone you know who may be looking to buy or sell a home. As always, thank you for your continued trust and support.

With Love,

Danielle Carames HOME FEATURES

LOVING LOCAL

HOMEBUYER MISTAKES

TRUSTED VENDORS

What buyers have on their needs list Avoid These Top Mistakes

MORTGAGE 101

5 Things You Should Not Do

Spotlight on Local Business & Local Events

COMMUNITY EVENTS MARKET UPDATE

5

HOME FEATURES

Buyers have on their needs list Do you wonder what features homebuyers most often have on their home needs list? Sure, a wish list is great. Who wouldn’t want an Olympic-sized swimming pool in their back yard or a butler’s pantry big enough to call it another bedroom (*wink, wink)? I’m talking about what homebuyers feel are most important features. Perhaps you may get some inspiration with this list. Here are the top five most desired features in a home.

2 - Home Office The pandemic of 2020 has definitely set the stage for a work-from-home environment.

Companies are now embracing this concept more than ever and are allowing remote work.

With more people bringing home the bacon from the comfort of home, we can expect that homebuyers now insist on a great home office, or at the very least, a dedicated workspace.

1 - Laundry Room It’s not enough to simply have a washer and dryer unit in a home these days. Buyers want a room dedicated to the chore so it’s no surprise that a laundry room made it on the list. After all, if you’re going to (reluctantly) do laundry, it may as well be in a space you love.

5 - Finished Garage At some time as of late, a garage stopped being simply a room to house cars. Now the modern garage is a home gym, a work station, a place to brew beer, house a ping pong table and karaoke machine and just about anything else that comes to mind. This is the reason a finished garage made the list - buyers consider it a multi-purpose room and would prefer that it is outfitted with dry wall and polished floors.

3 - Open Floor Plan

4 - Energy Efficient Systems As more people are becoming aware of green energy, the idea of saving the planet while simultaneously saving on energy costs is the best thing since sliced bread. Buyers now opt for energy-efficient features such as high-efficiency HVAC systems and energyefficient doors, windows, and appliances.

The 1970’s called and they want their traditional floor plan back. Today’s buyers prefer an open concept with no walls between rooms. It’s the best way to connect and interact with the whole family.

HOMEBUYERS: Avoid these Common Mistakes

Buying a home has a lot of moving parts to it and it can get pretty frustrating, especially for a first-time homebuyer. From the pre-approval to move-in day, you will be learning a ton about mortgages, homes, contracts, buying strategies, local markets, etc. As you can see, there are a lot of opportunities for error here. Use this list of top common home buying mistakes to help avoid some of your own.

1 - Don’t wait to start saving.

Saving early and plenty allows you to contribute more money overall to your home purchase. At the very least, you will need to cover the down payment and closing costs.

2 - Don’t buy more home than you can afford.

While your lender’s pre-approval amount is more than you expected, that doesn’t mean you should use that full amount.

Remember, lenders will tell you the maximum you qualify for, but only you know how much you can afford.

3 - Don’t skip a personal credit check.

Checking your credit gives you the opportunity to correct mistakes and resolve any negative remarks before you try to get preapproved.

5

mistakes to

avoid

4 - Don’t consult with just one lender.

Don’t assume that lenders all have the same rates, fees, and loan products. Every lender is different so shop around and select the best one. (You have a 45-day window from the first inquiry for all subsequent inquiries to not affect your score. Take advantage of it).

5 - Don’t miss out on assistance programs.

Explore local, state, and federal programs for down payment assistance and other benefits.

6 - Don‘t pass on a home inspection Home inspectors evaluate the integrity of the home. They will check for hidden issues that you may not see, thus protecting you and your investment.

mortgage

101

FIVE THINGS

You Should Not Do During the Closing Process

1 - Payoff existing debt without lender approval.

If your lender requires that certain debt be paid off, then follow that advice. For all the other open accounts, it’s best to leave them until escrow closes.

2 - Make large purchases.

Making a large purchase either requires you to tap into your account (verified funds) or swipe your credit card (increased debt) and both options can result in you no longer qualifying for the mortgage loan.

3 - Change your marital status.

Changes to your marital status affects how you hold title. Your loan may be delayed if documents have to be redrawn.

4 - Change jobs.

A job change can affect the loan finalization, especially if you are taking a lower-paying position or moving into an entirely different industry. Lenders want to see job stability and a job change may appear as quite the opposite. Wait until after you close as your lender may call your employer to re-verify employment prior to loan funding.

5 - Move money to another financial institution.

Once your lender verifies funds in your account(s), your money should remain untouched until needed for the home purchase.

Lenders must follow the paper trail so any movement between accounts may delay the process.

MARKET

Market Statistics January 2023 35

NEW LISTINGS AVG. LISTING PRICE

$4.003,240 12

UNDER CONTRACT

7

HOMES SOLD

AVERAGE SALES PRICE $2,021,286 DAYS ON MARKET

105 DAYS

Current Market: SELLER

OYSTER BAY* *OBEN School District

Market Insights

Market Analytics

The Oyster Bay housing market is still very much a sellers market. In terms of the numbers, the market is overall up 15.8% year-over-year.

Average Sales Price

It is important to note what a diverse market Oyster Bay truly is. Housing prices in the village may vary from those in Oyster Bay Cove or Upper Brookville. If you’re looking to buy or sell in the Oyster Bay Area it is very important to consult with a real estate professional.

2021

$1,426,478

2022

$1,651,507 Total Homes Sold

2021

100

2022

93

Average Days on Market 2021

92

2022

81

Featured Listings

6 Huckleberry Lane, Oyster Bay

34 Pleasant Lane, Oyster Bay Cove

441 Mill River Road, Oyster Bay

List Price: $880,000

List Price: $5,200,000

List Price: $2,175,000

trusted vendors

LOCAL

Spotlight

As a real estate agent and homeowner, I have worked with many individuals and local companies for various services. These are just a few of the vendors that I trust to handle all real estate, legal, and home needs. Please contact me if you need a vendor recommendation that is not listed here!

LENDER

CONTRACTOR

FLOORING

CONTOUR MORTAGE contourmortgage.com 631-824-8090

GM RENOVATIONS NY gmrenovationsny.com 631-944-5560

SHOWCASE WOOD FLOORING showcasewoodflooring rvc.com

Coach Meeting House

Opening just two days before the Great Shutdown of 2020, the Coach Meeting ELECTRICIAN ROOFING House has not only survived but thrived, offering innovative and crowd pleasing HIGH TIDE ELECTRIC CLEARVIEW ROOFING food and drink options (Espresso Martini Liam O’Niell longislandroofs.com Specials and Drive-Thru Slushies, 516-473-7200 631-262-7663 anyone?!). My favorites are the blackened chicken sandwich and the Block Island Cold Brew Mudslide.

APPLIANCE REPAIR PLUMBER This winter guests can enjoy their own private igloo each equipped with a tv, A-ONE APPLIANCE TOP CAT PLUMBING bluetooth speaker, heater, heated blankets REPAIR & HEATING SERVICES and use of a personal outdoor firepit area. apppliancegeekusa.com 631-741-0919 Indoor dining is replete with bar, fireplace, 631-255-8056 as well as the perfect room for private 516-513-5017 parties.

516-448-7710

ATTORNEY ZACHARY DUBEY margolinbesunder.com (631) 234-8585 ext. 244

INSURANCE BILL HANNAN State Farm, Oyster Bay carinsurance24-7.com 516-922-1060

Open 7 days a week 160 Mill River Road, Oyster Bay

Featured Community Events* 02/03/23 Guided House Tour of Raynam Hall Museum 02/04/23 Saturdays: Winter Market at St. Dominic’s Elementary School 02/12/23 Super Bowl Sunday at the Oyster Bay Brewing Company 02/17/23 Friday Night Flow: L-O-V-E @ Oyster Bay Yoga 02/20/23 OBEN Library: Winter Family Food Festival with Chef Rob (via FB LIVE) 02/17/23 Kids Eat Free, Tuesdays, Coach Meeting House 03/05/23 Pennylane, Performing Music of the Beatles @ the Jericho Public Library 03/25/23 Town of Oyster Bay Polar Bear Plunge to Benefit Special Olympics *Contact venue to confirm event details

ALL ABOUT OYSTER BAY L ocated along the “Gold Coast” on the North Shore of

Long Island, the hamlet of Oyster Bay is a small town (pop. 7049) with big and rich history. One of the 18 villages and 18 hamlets in the larger Township of Oyster Bay, Oyster Bay is widely known as the home of Teddy Historic Sites in Town Roosevelt, Billy Joel and many other major celebrities. *Sagamore Hill National I n 2022, back after a brief hiatus was Oyster Fest, one of the biggest Historic Site (pictured above) annual attractions on Long Island. The Oyster Festival has a long *Planting Fields Arboretum State Historic Park tradition as the East Coast's largest waterfront festival with more than 150,000 attendees each year. The Festival is known throughout the *Oyster Bay Railroad Museum *Raynham Hall Museum region for its fun mixture of new activities and old favorites that are certain to entertain the entire family including live entertainment, ships, Local Beaches (just a few!) top-notch artisans, pirate shows, midway rides, and the iconic oyster Beekman Beach eating and shucking contest. And of course...the Food Court, where Roosevelt Beach.

Surrounding: Bayville, volunteer chefs and culinary pros work side by side, cooking and serving West Harbor, Centre dozens of unique oyster, clam and other seafood concoctions along with Island and Ferry Beaches traditional festival fare.

School District: Oyster Bay-East Norwich Public Schools Servicing the hamlets of Oyster Bay, East Norwich and the incorporated villages of Centre Island, Cove Neck, Oyster Bay Cove, and portions of Laurel Hollow, Mill Neck, Muttontown and Upper Brookville. chools: Theodore Roosevelt Elementary School (grades K-2), James H. Vernon School (grades 3-6) and Oyster Mascot: The Baymen Colors: Purple and Gold Bay High School (grades 7 and 8, 9-12).

Hiking, Biking and Kayaking in the Town of Oyster Bay: https://oysterbaytown.com/wp-content/uploads/TOB-Fitness-Guide.pdf