Your Local Scarsdale Blog...

We're looking for the best Scarsdale has to offer and passing it on to you!

 

June 13, 2023

Should You Accept the First Offer You Receive When Selling Your House? (Spoiler Alert: Probably!)

Most home sellers want their house to sell fast andfor the most amount possible. Luckily, those two things usually go hand in hand. 

But once a seller gets an offer, they often wonder if it happened too fast, and whether it’s the best offer they’re going to get, or if they should wait for a better one to come in. If they’re smart, they should probably take the first offer that comes in, because there’s an old real estate rule of thumb that typically holds true: the first offer you get is usually the best offer you’ll get. 

Unfortunately, that’s not always the choice a homeowner makes. Sometimes they feel like perhaps their agent is just saying that to make their job easier, and to collect a commission check more quickly. Or they wonder if they’re the exception to the rule, and would be leaving money on the table by not holding out for another offer.

There Are Exceptions…

US News & World Report recently published a list of six times you should accept the first offer on your house, such as:

  • When you get an offer as soon as it hits the market
  • When it’s a cash offer
  • When the offer doesn’t have any contingencies
  • When there isn’t much interest in your house
  • When you need to sell fast
  • When your agent advises you to take the offer

But to be fair, there are exceptions to the rule. For instance, while all of those could be solid reasons to take the first offer that comes in, it’s not necessarily true in each and every situation:

  • Sometimes an offer coming in days after listing your house isn’t the best offer you could get.
  • Or just because it’s a cash offer, doesn’t mean it’s the best offer.
  • An offer without contingencies is great, but not if the price is far below what you could get from another buyer who has contingencies you’re comfortable with.
  • Not having much interest in your house might be related to the current market, time of year, and a little patience may be needed.
  • Needing to sell fast can make people desperate, but perhaps your agent feels hanging on for another couple of weeks will be worth the risk and wait considering your situation.

Out of all of them, the one you could say is the most true is to listen to your agent if he or she suggests you take the first offer that comes in; they’re the ones with the experience and knowledge to know if the first offer you receive is worth taking in your situation. 

The problem is, you need to trust your agent if and when they advise to take the first offer!

The solution is pretty simple: hire an agent you trust. 

Here’s Why the First Offer Is Usually the Best…

Even when you hire an agent you trust and they suggest taking the first offer you receive, there’s always a chance you could doubt the advice. In order to avoid that, it might help for you to understand why the first offer is usually the best offer you’ll get. 

Agents aren’t just making it up. It comes from experience, and isn’t something your agent will necessarily be able to prove with data. Over time, agents see enough situations where a seller opted to forgo the first offer that came in — hoping for a better one — only to eventually accept an offer for less than the first offer they received. 

Here’s why the first offer is usually the best offer:

  • Buyers are on top of every house that gets listed pretty much the minute it hits the market nowadays, due to the Internet.
  • The most serious, motivated buyers have likely seen everything that’s currently on the market and either decided it wasn’t right for them, or not worth the price.
  • There’s also a good chance they’ve missed out on houses they did want to buy because another buyer beat them to the punch, or outbid them.

To put it simply… they know the inventory. They understand the values. And they don’t want to lose a house they want to another buyer. So the first offer you receive is most likely going to come from the most serious buyers in the market, and they’re going to make as strong an offer as possible.

Will you get offers from other future buyers if you turn them down? Sure. but they probably won’t be as good as the first because they’re not as motivated, and the longer your house is on the market, the more buyers feel like they can offer less, and negotiate on the price and terms.

That Doesn’t Mean You Shouldn’t Negotiate…

While the first buyer you get an offer from is likely to be the best one, their initial offer might not be. There’s a good chance you can negotiate with them and get them to increase their price and/or other terms of the deal. So don’t take all of this to mean you should just sign on the dotted line for whatever they offer you at first. But once you (and your agent) feel like you’ve gotten the best price and terms the buyer is willing to offer, you should seriously consider taking it.

The Takeaway:

While there are exceptions to the rule, the first offer you receive is usually the best one you’ll get when selling a house. That doesn’t mean you can’t negotiate and get the buyer to offer better price and terms than they start off with. But the first buyer to make an offer is most likely serious, motivated, and highly aware of the market, so they’re probably going to make a strong offer in order to avoid losing the house to another buyer.

Posted in Real Estate News
June 7, 2023

WHAT TO DO WITH AN UNFINISHED BASEMENT

WHAT TO DO WITH AN UNFINISHED BASEMENT

 

Although currently dimly lit and a little rough on the eyes, your unfinished basement still has a lot of potentials. With just a little love and the help of the following ideas, you can spice it up in no time and get some great use out of the space.

  1. Add a pop of color. Give your basement a whole different look without a big renovation by adding some color to space. Consider painting and sealing the floors, opening up the room by painting the rafters white or a light color, or creating a bold accent wall.
  2. Divide the space. Want to make your basement a multi-use room? Partition out the area by installing an inexpensive curtain system. This can be done either with a curtain track or a simple wire, some hooks, and curtains will suffice.
  3. Add foam mats. Whether you’d like to use the basement as a home gym to get a quick workout in or a place for the kids to play and rough house, adding some foam mats into the mix is a great and easy solution. They come in various colors and can quickly be picked up and tucked away if need be.
  4. Use a large rug. As an alternative to adding mats, find a large, eye-catching rug to be used as a focal point, and furnish the area around it.
  5. Add lighting. Basements often offer very little built-in lighting and few outlets around the room. Consider stringing café lighting across space from the rafters to give a nice ambiance and glow without any difficult electrical work.
  6.  
Posted in Real Estate News
May 27, 2023

CONSIDER THIS: WHEN TO REFINANCE

CONSIDER THIS: WHEN TO REFINANCE

 

 


Refinancing your mortgage is something most homeowners consider at least once throughout the lifespan of their home loan. It allows you to pay off your previous loan by applying for a new one that has better financial advantages. While there are many good reasons to refinance, here are five common ones.

  • Scoring a lower interest rate. The number one reason homeowners decide to refinance is to secure a lower interest rate on their mortgage. Not only does this save you money in the long run and decrease your monthly payment, but you can start building equity in your home sooner.
  • Using an improved credit score. Even if interest rates have not dropped in the market, if you’ve improved your credit score over the last few years, you may be able to reduce your mortgage rate.
  • Shortening the loan’s term. If interest rates are decreasing, there is a chance you may be able to get a shorter loan term with little to no change in your monthly payment, allowing you to pay off your loan sooner.
  • Switching from an adjustable rate to a fixed rate. If you chose an adjustable-rate mortgage with great introductory rates when you initially financed your home, that rate may increase significantly over the years. By switching to a fixed rate while interest rates are low, you can protect yourself from future increases.
  • Cashing out home equity. If there is a big purchase or payment on the horizon, such as funding a wedding or going back to school, your best option may be to use the equity you’ve built in your home to borrow money at a lower cost.

Posted in Real Estate News
May 20, 2023

CREATE THE OFFICE OF YOUR DREAMS

 

CREATE THE HOME OFFICE OF YOUR DREAMS

Whether you work full-time at home or occasionally need to conduct business in the evenings or on the weekends, a home office a great way to utilize an extra room. A dedicated workspace in your home can be designed to increase productivity and comfort. Here are 5 ideas to get you started.

  1. Invest in a good office chair. Investing in an ergonomic office chair is essential. You may be spending anywhere from 30 to 50 hours a week sitting in it, so your back will thank you. Purchasing one with multiple adjustments is ideal so it fits you just right.
  2. Switch up your lighting. Fluorescent lighting has been proven to be hard on the eyes. Make the switch to LED or halogen light bulbs in your home office and try to let in as much natural light as possible. Also, consider finding a desk lamp to reduce headaches and eye strain.
  3. Keep essentials in reach and organized. Nothing says productivity like a clean, neat workspace. Select a desk with a lot of storage or install creative shelving to keep items like pens, pencils, extra batteries, calculators, notepads, and more stored within arm’s reach.
  4. Decorate bright. Pick a color you love and use it to spice up the room. Use cheery yellow or red or relaxing tones like green and blue, instead of beiges and browns.
  5. Aim for the view. If possible, place your desk so you are facing a window instead of a blank wall. Natural light can do wonders for staying alert and you can give yourself a short mental break when necessary by looking to the outdoors.

Posted in Real Estate News
May 13, 2023

DISPELLING REFINANCING MYTHS

DISPELLING REFINANCING MYTHS

“Refinancing” is a scary word for many people, but that shouldn’t be the case for you. For many homeowners, refinancing can not only lower your monthly payments and help with your monthly budget, but it can save you thousands of dollars in the long run.

YOU’RE NOT TOO LATE.

For years now, we’ve been hearing that interest rates will be on the rise, and although there have been some small increases, you’re still in a great position to drastically lower your interest rate. The general rule is if your mortgage interest rate is more than one percent above the current market rate, you should consider refinancing.

IT’S NOT TOO TIME CONSUMING.

Don’t brush off refinancing just because it seems like a long and daunting process. An informational call with a lender to see how rates compare will only take a few minutes. There are also some programs for streamlining the application process. And besides, isn’t the amount of money you could save worth the time and effort?


 


ARMS CAN BE REFINANCED, TOO.

Seeing your Adjustable Rate Mortgage (ARM) increase after the introductory period can be incredibly stressful and place a squeeze on your budget. Many people assume they’re stuck, but ARMs can be refinanced, just like fixed-rate mortgages. You can even switch to a shorter term fixed-rate mortgage, such as 15 or 23 years. The longer you’re planning to stay in the home, the more sense it makes to look into refinancing.


Posted in Real Estate News
May 6, 2023

DIY ez Landscaping Projects

EASY LANDSCAPING DIY PROJECTS

 

Ever get the itch to do a DIY project? Whenever we do, our favorites involve getting outdoors and mixing up our landscaping features.

Whether it's as simple as installing some lighting or a little more time-consuming like re-plotting plants, a fresh look for the lawn always gives your home a fresh look as well. Here are our top five easy landscaping projects!

Create a pathway.

To guide you and visitors throughout your yard and link different areas together, install a pathway. You can use materials from a variety of materials, including reclaimed pallet wood, flagstones, gravel, and more to add texture and color.

Add a wall or border.

Installing a flagstone, rock, or brick wall around flower beds or trees adds a sleek, clean look to your landscaping and helps separate different sections of your yard.

Install a water feature.

Nothing says zen quite like the sound of trickling water as you relax in your backyard. You can start simple with by purchasing and installing a small feature powered by a solar panel or create a larger focal point in your yard by installing a waterfall wall or small pond.

Light your way.

An easy way to transform your yard is to strategically use lighting. Place cool-colored lights high in trees to recreate a moonlight feel, use pathway lights to naturally guide the eye, or highlight objects or plants.

Plant upwards.

Expand your yard space by drawing the eye to the sky with a trellis fence or screen made of wood or metal. Once you install your trellis, select your climbing plants and vines and get to planting!


Posted in Local News
April 29, 2023

Finding the right Mattress

 

FINDING THE RIGHT MATTRESS

 

You’ve got more options than ever when mattress shopping these days with no shortage of brick-and-mortar and online-only retailers to choose from. Here are the factors you should consider when you’re shopping for a perfect night’s sleep.


 


  1. Mattress construction: The most popular mattress types are inner spring mattresses, memory foam mattresses, and adjustable air mattresses. Each has pros and cons when it comes to durability and comfort customization.
  2. Firmness: Mattress firmness plays a huge role in the quality of your sleep. Mattresses that are too firm or too soft can cause aches and pains, so it‘s recommended that you test a mattress for 10- to 15 minutes in store before making a purchase.
  3. Sleeping position: Your mattress should match your sleeping style (side, back, face-down, etc.). You want a mattress that keeps your spine in proper alignment. For example, some mattresses are better for side sleepers, while others are better for back sleepers.
  4. Size: It’s not quite as simple as choosing between a king and a queen mattress. You should also consider your height, as some mattresses are a better fit for shorter people while tall people will want a longer mattress so their limbs aren’t hanging over the edge of the bed.
  5. Stability: For couples, you should consider how the mattress reacts when one person moves, so the other person’s sleep isn’t disturbed in the middle of the night.

Posted in Local News
April 22, 2023

EYE-CATCHING WAYS TO DECORATE WITH PLANTS

 

EYE-CATCHING WAYS TO DECORATE WITH PLANTS

Using plants as décor is a great way to add a little color and a natural, bright feel to any room. There are endless types of plants to choose from and various ways to display each one, but here are a few of our favorite combinations.

  1. Geometric pots. Find geometric pots or planters of various sizes and plant small succulents of different styles and colors in each one. Then group a few pots together on a window sill or shelf or use them individually to adorn a side table or center of the dining room table.
  2. Long, hanging plants. Purchase a larger, draping plant-like eucalyptus, fern, or ivy and hang it from the ceiling using a macramé plant hanger or place it on a high shelf or ladder. These plants are perfect for the corner of your living room or room with a large, plain wall that is in need of a little pop of color.
  3. Plant corner. Have a large corner in the dining or living room and need ideas on how to fill it? Consider turning it into a small plant sanctuary. Select plants of all different sizes, heights, colors, and styles and purchase either matching pots or a mix of designs. Consider the use of a stool or small table to create additional levels and strategically place each one in the corner.
  4. Air plants. Air plants are universal and can be included in DIY wall art, hung from the ceiling or on the wall inside geometric metal prisms, or placed inside beautiful glass terrariums alongside other plants and colorful rocks or sand.

Posted in Local News
April 15, 2023

Give your deck a new look

GIVE YOUR DECK A FACELIFT!

 

Hanging out with your family or hosting friends on your old, dingy deck is not very appealing. Lucky for you, refreshing it doesn’t have to be difficult or expensive. Try your hand at the makeover ideas below!

Restore your decking. Depending on the shape it’s in, sometimes all your deck needs is a little love. If it’s still fairly new, your deck might just need a deep cleaning and a new coat of sealant. There is a multitude of deck finishing and cleaning solutions on the market to choose from to achieve this. However, if it's more worn down, the rejuvenation process may be a bit longer, including searching for larger repairs, tightening any hardware, giving it a good cleaning, applying a stain, sealant, and paint, and more.

Add lighting. Ambient lighting can completely transform your outside space into a relaxing, cozy oasis. Consider adding solar lights that don’t require a plugin or battery replacement. The lights turn on automatically when the sun sets, making your deck come alive. You can also consider paper lanterns, rope lights, mason jar lamps, or small twinkle lights, depending on the style and mood you’d like to set.

Build a privacy screen. Privacy screens come in all styles, shapes, and sizes. Consider purchasing and installing bamboo fencing or lattice panels for a quick and easy solution. Or, if you are feeling a little more adventurous, you can build a wooden frame and grow climbing plants or vines or stretch outdoor fabric in between. Whichever route you end up choosing, make sure you get the most out of your efforts by evaluating all lines sight before building.

Home Equity. Getting a home equity line of credit allows you to borrow money against the value of your home. You receive usually up to 80 percent of your home’s value, minus the amount of your loan.

Retirement Funds. Homeowners can consider pulling money from a 401K or IRA account, even though they aren’t specifically meant to cover a home renovation. This option might incur additional penalties or tax payments, but maybe worth it when making improvements that will benefit them financially in the long run.


Posted in Real Estate News
April 8, 2023

Great Wine Storage Ideas

GREAT WINE-STORAGE IDEAS

TIPS FOR STORING WINE AT HOME

If you are a big wine connoisseur or just saving a few bottles to crack open on special occasions, it’s important to understand how best to store them safely until you’re ready to partake. Follow the guidelines below!

Temperature

To ensure each wine bottle maintains the proper flavor and aroma, storing it at the correct temperature is essential. Regardless if it is red, white, or sparkling, storing your bottles at 53°F to 57°F is most ideal. Keeping your bottles in a room where the temperature is much warmer than that may cause the flavor to become flat. Keep your wine in the dark and away from direct UV rays as much as you can to protect the wine’s flavor.

Moisture

Controlling the humidity in the room is important if you plan to store bottles for more than a couple of years. The ideal humidity for storage is between 50 to 75 percent and anything below that could cause the corks to dry out, letting air seep into the bottle.

Positioning

Generally, it is advised to store wine bottles on their sides. This allows the wine to stay up against the cork which should aid in keeping it from drying out. However, if you don’t plan to store the wine for long or if the bottle has a screw top or plastic cork, this is not required for safe storage.

Timing

Not all wine is designed to have a long shelf life or be aged. Make sure you know what the winemaker’s intention was for that particular bottle. It is always better to open it a little early and enjoy it!

Posted in Restaurants