Port Jefferson Home Buying Strategies

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    Attention Long Island home shoppers: real estate is on sale! It’s the off-season for our home markets in Port Jefferson, Stony Brook and Setauket, which means list prices are generally lower!

    Of course, like any good sale, selection may be limited, and you’ll need to have a good strategy in place to land the right deal. As your Certified Buyer Representative, I can help you! Let me share some examples.

    Home inventories in Long Island are down 14.5% from a year ago. A sense of urgency causes buyers to make purchase offers for higher amounts than necessary, or to waive contingencies that protect their interests. There is nothing more dangerous than a lack of information; buyers who do not have a Buyer Representative are at a clear disadvantage in our market. Remember, unless stated otherwise, all agents work for the seller – no matter what company holds the listing.

    What about prices? Glad you asked! Long Island real estate has risen from bottom, and we’ve seen an uptick in prices during 2012. Yet Long Island median list prices are down an average of 2.4% from this same period one year ago. You’ll see variety in price trends depending on the local market. Take a look at median list price trends for September 2012:

    • Port Jefferson: $497,000, up 5.8% from last year
    • Stony Brook: $460,000, up 15.2% from last year
    • Setauket: $440,000, down 2.1% from last year

    Keep in mind that a “median list price” means that half of the homes were listed for more than this figure, and half of the homes were listed for less. If you are a first-time buyer, rest assured, there are affordable homes in Port Jefferson and the surrounding area!

    While statistics provide a general guideline, list prices, days on market, and home inventory will vary by local market and neighborhood. By working with me as your Certified Buyer Representative, you will have professional guidance throughout the home buying process, and avoid overpaying for a home, or ending up in a contract that is not in your best interest. Home buying may be the largest financial transaction of your life – don’t go it alone!

    For the best home buying strategies in Port Jefferson, contact me! Whether you are buying your first home in Long Island, or you are looking for a new home to suit your changing lifestyle, I have the local expertise you can trust. From the newest listings, to the latest sales figures, to expert negotiations, my experience will be your advantage!

    Amanda Eckart
    Three Village/Port Jefferson Real Estate Expert

    North Shore Real Estate
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