Randi Berntsen Century 21 Real Estate

05/21/2022

New listing in Port Jeff Station if anyone is interested or has any buyers interested 😊

For sale This 15246 square foot single family home has 4 bedrooms and 2.0 bathrooms. It is located at 45 Halsey St Port Jefferson Station, New York.

07/30/2021

Stability is Priceless

Moving from rental to rental is obviously a financial inconvenience, but it can also be a significant emotional burden. When you don’t know for sure where you’ll be living next, you also don’t know who your neighbors will be or where your kids will be going to school.

When you buy your own place, you make an investment in your home and your community. Enjoying friendships with neighbors, community involvement and stable educational opportunities for your children are just a few benefits of home ownership that you can’t put a price on.


I'd be happy to discuss the ways in which buying a new home this year could be achievable and affordable for you and your family. Just give me a call.

06/25/2021

For Builders and Buyers, Lumber is a Bummer

Over the past several years we’ve seen real estate prices climb higher and higher due to a limited supply and an increased demand, but a new factor is pushing prices up even further: the skyrocketing price of building materials. So, what’s behind these increased prices, and, more importantly, when can we expect some relief?

We’re all painfully aware that the pandemic triggered widespread supply chain issues, and building materials have been no exception. Supplies of steel, aggregates, and cement have dried up, but the trend might be most noticeable when it comes to lumber.

Nearly every aspect of home construction necessitates lumber – framing, trim, doors, flooring, windows, railings, and cabinets. The pandemic shut down lumber mills across the country, and supply chains were slowed by a shortage of truck drivers. Low interest rates and a lack of existing inventory increased demand for new construction, and all that new construction increased demand for lumber. It’s a perfect storm of demand outpacing supply.

According to Markets Insider, lumber prices rose by over 400% between May of 2020 and May of 2021, with the price per thousand board feet going from $327 to $1,645 during that time span. That figure has corrected since May, but, as of this writing, prices are still substantially higher than this time last year.

The rise in lumber prices has added almost $36,000 to the price of an average new single-family home, and nearly $13,000 to that of a new multi-family home.

Building material supply shortages, coupled with increased prices for land, means buyers will continue to see high prices for new builds for at least the foreseeable future.

Last year, home price inflation reached 11.4%, but experts predict a slowdown to 8.1% through 2021. By 2023, price growth is expected to slow to 4%. To put it another way, the surge in home prices is expected to slow, but it’s going to take a few years as supply chains and workforces return to pre-pandemic levels of productivity.
Vacation with Peace of Mind

Ready to finally take that extended vacation this summer? Since it’s probably been a minute (or 751,680 minutes) since you’ve last traveled, here are a few helpful reminders for ensuring your home stays mishap free while you’re away.

Set Your Thermostat
If you have an AC, heat pump, or evaporative cooling unit, make sure to leave it on to prevent mold, mildew, and other conditions caused by heat and humidity. Adjust your thermostat to 4 degrees higher than you would if you were home, which will reduce energy use while ensuring that the unit runs periodically. If you can, invest in a smart thermostat, which will allow you to monitor and control conditions at home via a handy smartphone app wherever you are.

Turn Water Off
When you are going to be away for an extended period, it's a good idea to turn off your main water line. This can prevent plumbing leaks from occurring in your absence, which otherwise could result in significant water damage and costly repairs. After shutting off the main water valve, let your kitchen and bathroom faucets run dry, ensuring that no water is left in the pipes.

If shutting the water off isn’t an option due to sprinklers or other considerations, consider investing in some water leak detection sensors. Modern water detectors connect to your smartphone and will notify you if a leak is detected, and since kits start at around $40, they can be a smart investment whether you’re traveling or not.

Double Down on Smart Security
As with water sensors and smart thermostats, other smart security devices are now more affordable than ever. To give the appearance that someone is home, use smart plugs to toggle lights, fans, or a radio while you’re away. Also consider a smart security system – modern systems feature contract-free, affordable monitoring, quick DIY installation, and remote monitoring notifications.

Wrap Toilet Bowls with Plastic Wrap
By wrapping your toilet bowls, you are preventing sewer fumes from entering your home. Leaving your toilets unwrapped can result in a less-than-pleasant "welcome home" smell when you walk in the door. Just be sure to mark the cling wrap with a big, bold "X" or other warning symbol as a reminder for when you return.

Empty the Fridge, Take Out the Trash
No one wants to come home to a moldy, stinky science experiment in their fridge, so make sure to dump anything perishable from the refrigerator and take the garbage out. Your future-self will thank you!

05/26/2021

With low inventory driving up home prices around the country, bidding wars, over-the-top cash offers, and waived inspections have become frustratingly commonplace. In these booming markets, buyers often need to act fast and stretch their budget for a shot at their dream (or dreamy-enough-for-now) home. But if you're like many buyers and backing up the Brink's truck for a 2 bed, 1 bath simply isn't an option, you'll need to get creative to gain an edge. It's time to talk about the "love letter."

The personal letter from a potential buyer to a seller has become an increasingly popular tactic in recent years. Sellers often have an emotional connection to their home, and getting a heartfelt letter explaining why their home would mean so much to you might make the difference in them selecting your offer over a comparable one.

If you're in the market to buy right now and are looking for a way to tip the scales in your favor, check out these love letter tips:

Don't use a template
The most important thing you can do if you're going to write a seller a letter is to speak from the heart. If you use a template you found online or you fill your letter with tired clichés, your love letter will probably backfire. Sellers (and their agents) know what their home is worth, so don't insult them by trying to pull a fast one. The goal is to appeal to the seller's emotional attachment to their property, so meet them where they are and be yourself.

Build a connection
If at all possible, try to identify and highlight a connection you have with the seller. Are the sellers moving because their kids just left the nest? Let them know you want to raise your rugrats there. Does the home have a fenced-in yard because the seller needed a play-place for their pups? Make sure to mention how much your pets will love the space. Same goes for shared hobbies, community interests, or anything else that lets the seller know you'll appreciate the home and area like they did. Again, just make sure to be genuine.

Don't bark up the wrong tree
If the person selling a home is an investor or builder, you can probably skip the letter altogether. They are trying to maximize profit and won't have an emotional attachment to the property. You'll have to offer them more money or a fast closing to grab their attention.

Recognize their work
If you notice the sellers have made improvements in their home, like remodeling their kitchen, feel free to mention that. People put a lot of time, money, and work into their homes, and it feels good to know that other people notice that.

Even if you already have remodeling plans in mind, don't mention them. It's better for a seller to imagine that you'll enjoy the spaces like they did.

Don't be desperate
If you come across as too needy or desperate, that's not going to appeal to a seller. Keep things positive, and don't put the seller in an uncomfortable position. You want to make them feel happy about passing their home on to people who will enjoy it the way they did.

Keep it short and ask for an edit
You don't need to write an autobiography, you just need a couple paragraphs. You want to convey why the house is meaningful to you but you also need to make sure the recipient actually reads it. Finally, make sure to have any letter reviewed by your agent to make sure you're hitting the right notes.

Remember, even a perfect letter won't win you an offer on its own, but it's a useful tool that can help tip the scales in your favor. If the seller is deciding between your offer and another comparable one, a love letter might give you the edge.

05/05/2021

Buying Season is Back. Here's What to Expect.

With peak buying season upon us, here's what analysts are expecting to see this year:

Increasing Mortgage Rates
It appears, depending on how the economic recovery progresses, that mortgage rates could continue to increase. Earlier in the year, rates were holding under 3%, but those rates have steadily increased over the past several weeks. As more and more Americans are vaccinated, it's expected that economic recovery will continue, and this will likely contribute to an upward movement in mortgage rates. If you're thinking of buying this summer, it may be in your best interest to lock in a rate as soon as possible.

Inventories Could Increase
Many home shoppers found the lack of inventory to be a major source of frustration during the past year. It was difficult , if not impossible to find available properties, and when something went on the market, it was often scooped up in days or sometimes just hours.

Some analysts are expecting to see increased inventory this year. As more people become vaccinated and a general sense of stability returns, home sellers who were deterred from making a move in 2020 will be more likely to list their properties.

Message me for more info. about the current market!

03/19/2021

Which States Have the Lowest Cost of Living?

For many of us, the past year has brought about a slew of unexpected changes. The pandemic didn’t slow rising home prices or increase the amount of available inventory in major metro areas, but what it did do was dispel the idea that all office workers must be tethered to a physical location.

With remote work becoming more and more normalized, many Americans are wondering why they’re paying exorbitant housing costs for less space, less privacy, and less stability. With that in mind, let’s take a glance at the most affordable places to live in the United States by cost of living index*.

Mississippi: With a cost of living index of 84.8 (the national average is considered 100), Mississippi has the lowest housing costs in the country and has held the top spot for years. You can expect to pay around $134,000 for a home, so if you’re looking for a new home town where your money can go further, Mississippi might be for you.

Oklahoma: Oklahoma has the second-lowest cost of living in the U.S, with an index of 86.1. You can expect to pay $142,000 for a home in Oklahoma, meaning you’ll be able to afford that tailgating rig sooner than you planned.

Arkansas: Coming in third is Arkansas. The cost-of-living index is 87.8, and transportation, housing, and health care costs are all lower than the national averages. It’s estimated that for a family to live comfortably in the state they would need to make around $44,571 a year. Arkansas also offers a screamin’ deal on milk at an average price of $1.75 a gallon.

Other states with a low cost of living are Kansas, Missouri, Georgia, Alabama, New Mexico, Tennessee, and Indiana.

*Cost of living indexes are meant to compare the expenses an average person can expect to incur to acquire food, shelter, transportation, energy, clothing, education, healthcare, childcare, and entertainment in different regions.
Avoiding Moving Woes

It’s a timeless and universal truth: moving is no fun. Ancient Polynesian seafarers, while nervously prepping outrigger canoes for uncharted trips across the South Pacific, probably groaned in frustration when they realized at the last minute that someone forgot to pack up all the fishing gear.

Sure, locating to a new place can be an exciting adventure, but the actual moving process can be stressful, costly, and full of surprises. Make your next move as smooth and simple as possible by avoiding these pitfalls:

Hiring a shady mover. Moving scams can run the gamut from bogus “moving deposits”, to bait-and-switch estimates, to overly-complicated contracts designed to nullify mover liability. You can steer clear of a less-than-upstanding mover by doing your homework. The Better Business Bureau, Angie's List, your state transportation regulator, and the U.S. Department of Transportation - and even your relatives, friends and neighbors - are all good sources of information about whether a moving company is on the up-and-up. Doing some homework online can save you a lot of heartache.

Failing to schedule your move well in advance. During the summer months, good moving companies are booked up quickly. Rather than waiting until the last minute, make sure your move is scheduled weeks - or better yet, months - in advance. You don't want to be scrambling to find a mover the day before you're supposed to head out.

Packing too much stuff. Do you really need those old boxes of baby clothes that you haven't laid eyes on since your 6-year-old was in diapers? Before you move, "edit" your belongings. Think about whether you can trash some of your possessions, donate them to charity, or give them away to friends and relatives. Consider holding a garage sale to clear out some of the clutter. If you haven't seen, worn, or used something in a year, think hard about whether you need to keep it - and whether you need to haul it to your new place.

Ignoring the need to pack ahead of time. You'll find very few people who'll say that packing is fun. In fact, a survey commissioned by SpareFoot found that people who moved in the past year identified packing and unpacking as the biggest hassle in the process. (Our ancient seafarers would probably agree.)

You can lessen the load by beginning to pack well before moving day comes along. Start by boxing up stuff that you won't need right away - for instance, if you're moving in the summer, pack up your winter clothes so that they're out of the way. If you get down to the wire and need help with packing, enlist friends, neighbors, relatives, or colleagues to lend a hand. Just make sure you have plenty of pizza and cold beverages on hand. If you can't rustle up any free help, consider hiring laborers to do the packing for you; that may be a small price to pay to alleviate moving-related stress.

01/26/2021

Home Décor to Look Out For in 2021

Even with 2020 in the rear-view mirror, it's fair to assume we'll still be spending a good amount of time at home in early 2021. Here's a roundup of popular décor and design trends to keep in mind if you plan to redecorate this year, so you can nest with the best.

Comfort and functionality
2020 was a year when most of us spent more time at home than ever before. Not only were we confined to our homes during our free time, but our homes also became our gyms, our schools and daycares, and (if we were lucky) our offices. All of these new demands have made comfort and functionality top priorities in home design.

Unused guest rooms and formal living rooms have been given more useful purposes. Home offices have gone from makeshift setups to more permanent work stations. The rise in popularity of overstuffed living room furniture signals that consumers are focused on actually relaxing in their living spaces. Furniture sellers are also seeing high demand for partitions and room dividers, as people look to subdivide their limited free space.

Lighter wood
Inspired by the minimalist aesthetic of Scandinavian and Japanese design (that's "Japandi" for the uninitiated), lighter wood will be a popular choice in 2021. From furniture to flooring, blonde and light oak woods make spaces feel bright, open, and modern - even if your other décor is more traditional.

Grand millennial
Consider "Grandmillennial" design to be the wild-child cousin of buttoned-up "Japandi" minimalism. Imagine the comforting traditional styles of your grandparents' home but with trendy updates. Colorful wallpaper, rehabbed antiques, and busy patterns on furniture and rugs are making a comeback with people tired of minimalism.

While these trends are no doubt driven by nostalgia and warmth, sustainability is an added factor. Antique furniture and home goods are available in abundance at affordable prices and were manufactured at a time when products were built to last. Since you're not shopping at a big box store, your décor is also sure to be unique.

Neutrals are no longer the default
For years, neutral gray, beige, and white were the go-to paint colors for walls and cabinets. Now, bold blues and greens are rising in popularity, and that's not just limited to accent walls. Expect to see splashes of color covering entire rooms and cabinetry in 2021, as consumers try to recreate the colorful environs of restaurants and hotels in their own homes.
Buying Land: Look Before You Leap

Have you found yourself dreaming of your own Walden Pond lately? Whether you're looking to build a luxury retreat or you just want a natural escape, the dream of scooping up an undervalued piece of land is an understandable one. But before you break out the flannel, it's important to remember that buying land is different from buying property with a structure already on it. Here are some things to keep in mind when buying land:

If it's an investment, consider it a long-term investment
Land is not a quick flip. You should only plan to buy land if you're going to hold on to it for at least 10 to 20 years. Landholding can protect you against inflation, but its value isn't going to rise quickly.

Pay cash if possible
If you aren't going to build a home on your land right away, lenders will see you as a risk, and you'll have to pay 30 to 50% upfront (if not full price). If you are going to build right away, you can get a construction-to-permanent loan, which is different from a normal home loan.

Construction-to-permanent loans are a form of short-term financing that don't have fixed rates. Your bank releases funds as construction stages are completed. Then, the loan rolls over into a traditional mortgage when construction is done.

If you plan to build with a construction-to-permanent loan, and you don't have collateral in the form of a preexisting home, you'll need to have nearly perfect credit.

Paying all cash is the best option to avoid these financial hurdles.

Review deed restrictions
Before getting your heart set on land, it's important to look at deed restrictions to determine what you can and can't do with the property. You'll also have to figure out how binding these restrictions are. Restrictions might include limits on the building styles or square footage. The more rural the property, the fewer deed restrictions there are likely to be, but that's not always the case.

Research zoning restrictions
Land may be zoned for commercial use, residential use, or both. You'll have to figure out if the land is zoned for additional structures like detached garages or ADUs. Zoning restrictions can also determine the minimum structure size you can build.

Find out about easement stipulations
If there's an easement on a property's title, you'll want to know the stipulations before buying. An easement gives another person or entity a legal right to someone else's property for specific reasons, which may reduce privacy or cause other headaches.

Water and septic considerations
If you're looking at land that's not on a city sewer system, you may have to dig a well for water. That can cost over $10,000, plus the costs of water filtration. Some properties even require adding lakes or hydrants, so firefighters have access to a rural water supply.

If your land isn't on a municipal sewer system, then any structure you build will probably need a septic tank. For that you'll need a percolation test, which measures how absorbent the soil is to the liquid that comes out of the septic tank. If you can't support a septic tank on your land, you probably won't be able to build or get a mortgage.

Buying land can be a great opportunity, but a lot of research should go into the decision. Do your due diligence and consult with experts on real estate laws and local zoning guidelines. Like anything else, if a land deal looks too good to be true, it probably is.

12/24/2020

Home Improvement Decisions You'll Never Regret

When it comes to home remodeling, there are very few design decisions you can make that are sure to stand the test of time. While it can be tempting to opt for trendy renovations (open shelving anyone?), there's no guarantee that they next buyer - or your future self - will share the same preference. We're all painfully aware that the future is tough to predict, but there are a handful of decisions you can make on home improvements that won't keep you up at night, regardless of market forces.

Infrastructure
When it comes to remodeling, there are fewer sure-fire bets than investing in a home's infrastructure. Investing in updated electrical and HVAC systems, siding, plumbing, insulation, and windows can yield tremendous ROI for homeowners whether they're dwelling or selling. These systems are often hidden behind walls and under floors, so they're easy to ignore. However, neglecting your home's infrastructure can lead to inconvenient and costly repairs and can be hazardous to your family's health and safety. There's a reason home inspectors spend most of their time in attics and crawlspaces – the overall health of your home has less to do with aesthetics and more to do with what's behind the scenes.

Storage
Storage is a consideration that can be easily overlooked when you're imagining your dream living space, which is almost by design - practical and efficient storage is meant to be out of sight, out of mind. Whether you plan to stay in your home or sell in the near future, sacrificing storage space is a decision you'll likely regret. If your remodel demands eliminating a hall closet, make sure you have a plan to reorganize and add that storage back elsewhere. It's impossible to predict what life changes your home might need to accommodate in the future, and if you plan to sell, ample storage will be a plus for practically any prospective buyer.

Lighting
It can be tempting to see lighting as an afterthought, but in actuality lighting should be a starting point, as it impacts every detail in a room. Take time to research and create a lighting plan that best accentuates the features of your home, taking into account natural light and ways to implement accent lighting. When the time comes to implement your plan, you can't go wrong with a licensed electrician who can ensure all changes are up to code.
Running the Numbers on Refinancing

Deciding whether or not to refinance an existing mortgage typically means running some numbers. You can do this on your own, but it’s helpful to get the professional assistance of a loan officer. It mostly boils down to how much you’ll save each month, but there are other considerations.

First, the change in rate isn’t everything. Old school rules say that it’s a good idea to refinance if current market rates are 1% or 2% lower than what you currently have, but the rate is only a part of it. The other component is the amount being financed. For larger loan amounts, a reduction of only 0.5% might make sense. For smaller loan amounts, 2% may not be enough.

Instead, calculate the monthly savings and then divide that amount into the closing costs associated with the mortgage. The result is how many months it will take to ‘recover’ the closing costs in the form of monthly savings. Pay less attention to the actual rate but instead how long it will take to get your closing costs back.

Take a loan amount of $300,000 over 30 years with a rate of 4.50%. The principal and interest payment works out to $1,520 per month. If current market rates are at 3.5%, the new payment would be $1,347 for a savings of $173 per month. If closing costs were $3,000, then it would take just over 17 months to recover the associated fees. Not bad. If the loan amount were $100,000 under the same scenario, the monthly savings would be $57 and recovered in 52 months, or more than four years. Probably not a good idea in that situation.

There are other considerations outside of month-to-month savings. Let’s say you’re less concerned about lowering your monthly payments, and you’re more interested in paying off your house faster. In this scenario, it may make sense to refinance at an even lower interest rate on a 15-year mortgage. You’ll pay more per month, but you can potentially save tens of thousands of dollars over the life of your loan.

If you’re wondering whether a refi makes sense for you, reach out! I’ll be happy to answer any questions and can refer you to a mortgage professional when you’re ready to crunch some numbers.

If you'd like more info like this, message me your email, and i can add you into my monthly newsletter!

11/09/2020

Stability is Priceless

Moving from rental to rental is obviously a financial inconvenience, but it can also be a significant emotional burden. When you don’t know for sure where you’ll be living next, you also don’t know who your neighbors will be or where your kids will be going to school.

When you buy your own place, you make an investment in your home and your community. Enjoying friendships with neighbors, community involvement and stable educational opportunities for your children are just a few benefits of home ownership that you can’t put a price on.


I'd be happy to discuss the ways in which buying a new home this year could be achievable and affordable for you and your family. Send me a message !

10/11/2020

Happy Sunday everyone ! So lets talk options:
Have extra cash? Should you invest it or use it to pay down your mortgage?
When you pre-pay part of your mortgage, you end up paying less in interest. But as a result, you also lose part of your mortgage-interest tax break. Your true savings, then can be expressed as the difference between your mortgage interest rate and the rate at which you take your deduction (a function of your total marginal tax rate).
If that net percentage figure is less than the amount you could make investing the cash, you’re better off investing it.

09/26/2020

It goes without saying that the question of "should I buy real estate this year?" is best answered with "it depends." Here’s what I mean...

It depends on your credit score: Some lenders are exercising a little more caution when it comes to assuming risk, so potential buyers should prepare for higher credit score standards. If you’ve been displaying a string of good habits in preparation for buying a home, this might be your year.

It depends on your savings: Maybe you’ve been packing your bank account for years in anticipation of buying a home, or you’re planning on selling your starter home and putting the cash toward a more family-friendly home. Either way, if you can come to the table with 20% down, you’ll have a tremendous edge this year.

It depends on your income: If you’ve been fortunate enough to maintain a reliable source of income, you can feel more comfortable pursuing a purchase!

It depends on your market: Some parts of the country have seen a slow-down on the skyrocketing home prices, and in other places, prices continue to climb.

If you’re curious how your local market has shifted, give me a call!

Randi Berntsen
(631)258-3158
Licensed Real Estate Salesperson
Century 21 Princeton Properties