 October 2010 Newsletter |
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Greetings! ,
Late this past summer, we were contacted by WLNY-TV Channel 10/55 in the metro New York City area, about some tips on staging a home for sale or rent.
Click on the arrow below to see their interview of me where I share my take on the state of the real estate market in the Hamptons, and some tips to getting your home sold or rented in no time.
Warmest regards,
Donna M. Dazzo, President
Designed to Appeal
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Our Favorite Recent Stagings
"Men Live Here" Apartment Transformed
See how this apartment literally went from dorm room (the younger brother who's in college lives here) to the beautiful apartment it deserved to be.
 Seeing Red This homeowner loved red, but she realized she wouldn't see any green from selling her apartment until she repainted the walls a lighter color and swapped out the outdated and dark black sofas for some new ones that she is taking to her new home.
Empty Apartment Transformed
This homeowner realized that vacant apartments don't sell, so we brought in some rental furniture and our own decorative accessories to portray a lifestyle that potential buyers can aspire to. An offer for the apartment was accepted less than 4 weeks after staging and is set to go to contract soon.
Another Empty Apartment Transformed The couple who owned this apartment relocated to Chicago last year. After their renter left, they decided to put it on the market as they were optimistic that real estate was improving in New York. So we brought in some rental furniture and our own decorative accessories to show it off to its best advantage.
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Testimonial of the Month
" I invited Donna to stage one of my listings and after she created a masterpiece from a somewhat ordinary small two bedroom apartment, it was clear that she is the best in the industry and I now use her exclusively for all of my properties.
Her hard work, passion and keen eye for creating beautiful spaces has been a major attribute to my business and I have become a true believer that Donna's professional touch can make all the difference!"
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Market Overview:
New York, NY (Manhattan)
"the condo market corrected in only two quarters, but at the same time is only stabilizing before prices can increase whereas the co-op market peaked earlier, took six quarters to correct, and has witnessed substantial price growth almost immediately."
Market Wide:
- The number of new listings coming to market decreased almost 10% from third quarter 2009 to 4,424.
- Total listed inventory is down 5% to 9,200 units from a year ago.
- The number of sales decreased 5% from third quarter last year to about 3,000.
- Median price increased 9% to $900,000 from a year ago.
- Average price per square foot increased 2% to $1,046.
Co-ops:
The median sales price of $760,000 was 24% higher than third quarter last year, and set a record.
Average price per square foot was $877, a 9% increase from third quarter last year.
Condos: The median sales price of $1,120,000 was 15% higher than a year ago.
Average price per square foot was $1,161, a 5% increase from third quarter last year. |
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Tips and Tricks of the Trade:
Choosing the Correct Lampshade
Many lamps that we buy come with lampshades, so we don't have to make the difficult determination of what size or style lampshade to get. But sometimes they don't. Or we have a lamp base that is perfectly fine, but the lampshade has seen its day. Just the other day I was shopping in Target for a lamp. They sell their lamp bases separately from their lampshades, which come in three different sizes: Small, Medium and Large. So it's left to the shopper to figure out which one goes best with the base they've selected. I had to switch back and forth many times, and step away, until I finally decided on the Small size for the base I had chosen. The Medium was a bit too big. But sometimes we can't always rely upon our eyes to determine this. Read more in this very informative article about selecting the right lampshade based upon its shape, material, height and diameter.
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Did You Know...
- ...The Celtic holiday of Samhain, the Catholic Hallowmas period of All Saints' Day and All Souls' Day and the Roman festival of Feralia all influenced the modern holiday of Halloween?
- ...in the 19th century, Halloween began to lose its religious connotation, becoming a more secular community-based children's holiday?
- ...Halloween is the 2nd most commercially successful holiday, with Christmas being the first? People spend as much as over $2.5 billion during Halloween on candies, costumes, decorations and parties.
- ...orange and black are Halloween colors because orange is associated with the Fall harvest and black is associated with darkness and death?
- ...it is believed that the Irish began the tradition of Trick or Treating? In preparation for All Hallow's Eve, Irish townsfolk would visit neighbors and ask for contributions of food for a feast in the town.
- ...the ancient Celts thought that spirits and ghosts roamed the countryside on Halloween night? They began wearing masks and costumes to avoid being recognized as human.
- ...Jack o lanterns originated in Ireland where people placed candles in hollowed-out turnips to keep away spirits and ghosts on the Samhain holiday.
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Market Overview: The East End
"the real estate market on the East End of Long Island is showing signs that the upward trend, which started in the 2nd quarter of 2009, slowed down in the 2nd quarter of 2010 and declined further in the 3rd quarter.
...all three of the market indicators: Median Price, Unit Sales, and Dollar Sales, showed a turnaround in the 2nd quarter of 2009, and continued until the end of the 2nd quarter of 2010, however all three indicators showed declines in the 3rd quarter [compared to the 2nd quarter].
Market Wide:
- Median price was down 2% to $600,000 from 3rd quarter 2009.
- The number of sales, however was up 24% to 559.
- The dollar volume of sales was also up to $660 million, a 17% increase.
East Hampton Town:
- The median price decreased 13% from third quarter last year to $740,000 third quarter 2010.
- The number of sales increased 75% to 132.
- The dollar volume of sales was up almost 59% from same quarter last year.
Southampton Town: - The median price decreased 11% from same quarter last year to $740,000 in the 3rd quarter.
- The number of sales increased 7% to 247.
- The dollar volume of sales remained flat at $343 million.
Southold Town:
- The median price decreased 2% in the third quarter to $490,000 from same quarter last year.
- The number of sales increased 39% to 85.
- The dollar volume of sales increased 37% to $52 million.
Read what Prudential Douglas Elliman, Corcoran and Brown Harris Stevens have to say about the market in the Hamptons during the third quarter. |
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For More Info During the Month...
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F/REE Closet Organization,
Open House, and Moving Checklists |
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To request your FREE Closet Organization, Open House and Moving Checklists, contact us. Just put "Free Checklist" in the subject line, and we will know what to email to you. | | |
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