North Hempstead Transportation Initiative

by Cristina Callegari Kanellopoulos

The Town of North Hempstead and local licensed taxi services are offering senior residents a fantastic opportunity! The town has implemented a 4 month pilot program made possible by a grant from the United States Administration on Aging, and is part of Project Independence - which is North Hempstead's aging-in-place initiative. This pilot program will offer FREE taxi service to it's older residents to local Supermarkets. Here's how it works:

If you are age 60 or over, are a resident of North Hempstead, and live with the pilot area, you are eligible for free, round-trip taxi service 1x per week to a local, designated food shopping destination. This program will run until February 15, 2010.

The program is being offered in the following locations and times:

1. Great Neck, Great Neck Village, Great Neck Manor and the Manhasset Valley Residences. Mondays from 11 a.m. to 2:00 p.m. Residents will be taken to Waldbaum's Shopping Center on Great Neck Road.
2. Port Washington, Port Washington North, Baxter Estates and Manorhaven. Wednesdays from 11:00 a.m. to 2:00 p.m. Residents will be taken to King Kullen or Stop & Shop Centers on Shore Road.
3. Westbury, within the town of North Hempstead and New Cassel. You must live East of Post Avenue, South of the Northern State Parkway, and West of the Wantagh State Parkway. Wednesdays from 11:00 a.m. to 2:00 p.m. Residents will be taken to Stop & Shop on Old Country Road.
4. New Hyde Park. Thursdays from 11:00 a.m. to 2:00 p.m. Residents to be taken to Stop & Shop on Hillside Avenue.

Here's answers to commonly asked questions:

How can I get the Free taxi service?

Call 311 or 516-869-6311 and indicate your interest in the Project Independence Senior Shopping Service pilot program. Call-takers will ask for your name, address, date of birth and telephone number. You will then be enrolled, and mailed a Project Independence membership card. You will sign and show the taxi driver your member card.

How to schedule a ride?

Call 311 at least one day before the day your area is scheduled for the shopping service. Call-takers are on duty M-F from 7:30 a.m. to 7:30 p.m., and on Saturdays from 10:00 a.m. to 6:00 p.m.

Will the cab take my walker/wheelchair, can my Aide come along?

Yes, to both questions as long as you schedule your ride at least 24 hours in advance.

How will the trip home be handled?

The taxis will be spending 3 hours going between neighborhood and store. Your driver will show you the meeting place and tell you the approximate pick-up times, and the time of the last trip back home. You will be limited to no more than 3 grocery bags, as their may be more than one passenger in your car.

Call 311 if you have any questions.

This pilot program is a welcome addition to the services for our senior residents in the Town of North Hempstead, and I truly hope that the pilot is successful, and the locations are expanded.

Keller Williams Agency Ranked #1

"Keller Williams Realty Ranked as Top Real Estate Franchise by Industry Leader and Entrepreneur Magazine!

Keller Williams Realty joined the ranks of the top franchises in the world last week, when the company was ranked as the #1 real estate franchise on the 31st Annual Franchise 500 List by Entrepreneur magazine. During the same week, the company was also voted to Most Recognizable Brand of Real Estate Franchises for 2009 in an industry-wide survey fro the Swanepoel Trends Report.

The most important criteria to determine the top franchises included financial strength and stability, as well as growth rate and size of the franchise system. Entrepreneur magazine also looked at the number of years the company has been in business and the length of time it has been franchising.

Earlier in the year, Keller Williams Realty also received the highest overall satisfaction ratings from buyers among the largest full-service real estate firms from J.D. Power and Associates for the SECOND year in a row!"

I am so proud to work with such an amazing brokerage! Keller Williams has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. As such I am able to give more to my clients. It's no wonder we've been ranked #1 by J.D. Power and Associates in customer satisfaction for 2 years in a row!

I congratulate all my Keller Williams colleagues in helping our firm reach this fantastic achievement!

Way to go my fellow Keller Williams Teams across the Nation!

Holiday Safety Tips

by Cristina Callegari Kanellopoulos

Every holiday season fire kills over 400 Americans, injuring 1,650 more, and causing over $990 Million in damage. (Source: the United States Fire Administration)

Following the tips below can help ensure a safe and Happy Holiday season!

Holiday Lights and Decorations:

• Inspect holiday lights every year for frayed wires, bare spots, gaps in the insulation, and broken or cracked sockets Before putting them up.
• Use only lighting listed by an approved testing laboratory, like UL approval
• Do not link more than three light strands, unless the directions indicate is is safe.
• Periodically check the wires; they should not be warm to the touch.
• Do not leave holiday lights unattended.
• Use only non-flammable decorations and keep all decorations away from lit fireplaces and heating vents.
• Never place wrapping paper in a fireplace; it can result in a very large fire and shoot dangerous sparks and embers that could result in a chimney fire.

Caution With Candles:

• If you do use candles, make sure they are in stable holders and place them where they can not be knocked over.
• Never leave candles unattended.
• Do not put lit candles on a Christmas tree, real or artificial.
• Keep candles well out of the reach of children and pets.
• Never leave candles burning overnight.

Christmas Tree Safety:

• If using a live tree, choose those with green needles that are hard to pull back from the branches. Needles should not break from freshly cut trees.
• Bounce the tree on the ground; if many needles fall-off, the tree is not fresh, and is a fire hazard
• Do not place your tree close to a fire place, or heating vent.
• Do not put your tree up too early, or leave it up longer than 2 weeks, as that is the average time it takes for a tree to dry out.
• Keep the tree stand filled with fresh water at all times.
• Turn-off the tree lights before going to bed, or leaving the house.
• Dispose of your tree properly, do not burn it in the fireplace, or in a wood-burning stove.

As in every season throughout the year, have working smoke and carbon monoxide alarms installed on every floor of your home. Test them monthly and keep them clean and equipped with fresh batteries at all times.

On behalf of the entire Keller Williams Realty of Greater Nassau Family, and me, Cristina Callegari Kanellopoulos we wish you all a very happy and safe holiday season!

Is this the Right Time to Sell my Home?

by Cristina Callegari Kanellopoulos

How can you be sure that selling your home today will make financial sense and benefit your family in the long term? While there is no easy answers or guarantees regarding the housing market, understanding the economic forces behind the market trends will give you some peace of mind for the present, as well as some hope for the future.

When discussing the housing market, many real estate experts talk about the current Inventory. In general business terms, inventory is the supply of products that a business has in stock. In real estate terms, it refers to the number of homes on the market. The more homes on the market, the lower their prices will be. It is a simple case of Economics 101 "Supply and Demand."

If the market has dropped to the point that your home is worth less than what you paid for it, you've likely lost most of your down payment. If you have to sell your home for less than what you paid for it, your situation is referred to as Upside Down. Put simply, you owe more on the house than what it is worth. If you find yourself in that situation please read my article on Short Sales. If that is not the case - please read on.

Let's say you bought a home for $500,000 and paid a 10% down payment on it ($50,000). And, let's say the home values in your area have gone down by 10%. This means your home is worth $450,000. You have lost your entire down payment.

However, there is a bright side to this situation. When selling a home in a soft market, it is true that you will have to sell at a lower price than you had hoped for - but (and this is key) if you purchase another home shortly thereafter, you will be able to purchase your new home at a reduced price as well. So, in the end, it all balances itself out, and actually makes a Buyer's Market an ideal time for a Seller to upgrade their existing home.

Let's look at some plain numbers. Let's assume that the prices in your neighborhood in Nassau County have dropped by 10%, and you'd like to continue living in the same neighborhood. Your $500,000 home went down $50,000. While that $650,000 home that you'd like to upgrade to actually went down $65,000. You are actually walking away from this situation $15,000 ahead!

I know you are scratching your head right about now. But let's talk this through the other way around. Let's say you purchased your home for $500,000, and after living there for 5 years you've outgrown it. During those 5 years let's assume that your property value went up by 15%. (Average rate of increase year-over- year during a stable real estate market is 3% annual growth; 3%x5 years = 15%). Which means your home is now worth $575,000. That's wonderful you say, Right? That depends, if you are downgrading, yes it is - but, what if you want to upgrade? The important detail that Sellers and Buyers alike tend to forget is that if your house went up in value - so did everyone elses. That $650,000 home that was out of your price range 5 years ago is now worth $747,500. While you gained $75,000 in the value on your home, you actually LOST $22,500 on purchasing the upgrade.

And, that's just one piece of the puzzle. Five years ago interest rates were significantly higher than they are now. That means that paying off your existing mortgage, and purchasing a new home with a lower fixed interest rate will also save you thousands of dollars over the course of the loan.

If you need help deciding whether or not to sell your home call me, Cristina Callegari Kanellopoulos at 917-921-5397 today. I'll help you navigate the pros and cons so you can make an informed decision.

Not So Fast Folks - First Time Home Buyer Credit Not Extended

By Cristina Callegari Kanellopoulos

There was a misleading media frenzy this morning reporting that the First Time Home Buyer Credit has been extended. Unfortunately, this isn't accurate.

Here are the facts:

• The tax credit extension is NOT currently a stand alone bill. It is being packaged in as part of a compromise on the EI (Employment Insurance) Bill currently in the Senate.
• Democrat and Republican Senators alike are in the process of negotiating the EI Bill with the tax credit included as an amendment. If they agree on the proposed amendments to the EI Bill, it is possible that the Tax Credit Extension Bill could pass the Senate as early as this week.
• The House of Representative has released a statement that they will agree to whatever the Senate decides. If that is the case the Tax Extension could be passed as early as next week in the Senate and House of Representatives.
• If the Senate does not agree to the amendments in the proposed EI Bill, a separate stand-alone Bill will need to be introduced to the Senate. This Bill will likely be introduced by Senators Johnny Isakson (R-GA who is also a Realtor) and Chris Dodd (D-CT).

While there is no guarantee that the EI Bill will pass with the First Time Tax Buyers credit as an amendment, I remain hopeful that it will.

I will continue to keep you updated on the subject.

HUD Funding to Assist Homeless Vets

by Cristina Callegari Kanellopoulos

The Department of Housing and Urban Development (HUD) recently announced that they will provide the NY State Division of Housing and Community Renewal (DHCR) with $1.4 Million in additional funding for a program to help homeless veterans find the housing and clinical services they need.

HUDVASH, the Veterans Affairs Supportive Housing Program, is a new and highly successful program that combines the HUD Housing Choice Voucher rental assistance for homeless veterans with case management and clinical services provided by the Department of Veterans Affairs.

In New York, DHCR utilizes local administrators in Westchester and Suffolk counties to administer two VASH contracts - one in partnership with Montrose Medical Center in Westchester county, and a second with the Northport Medical Center in Suffolk County. In Suffolk County, 30 veterans have found homes with the program, and another two are said to be finalizing their leases.

New Construction vs. Existing Home?

by Cristina Callegari Kanellopoulos

New houses offer many advantages over existing homes. They are designed to accommodate the wishes and needs of today's homeowners as opposed to features that were popular many years ago. They will include the most requested features, such as Central Air Conditioning, Walk-in Closets, Open Living Space, Family Rooms, more Bathrooms and larger Bedrooms, for example. New homes are more energy efficient than older homes, and since everything is new (and usually under warranty), in the short-term there is less of a chance that the home buyers will spend money on costly repairs.

However, the quality and character of higher-end older homes simply cannot be compared to new construction. The craftsmanship, architectural details and materials that were used is superior to that of new/current construction.

Potential home buyers who prefer the idea of a new home, but do not have the time or budget for custom building, can satisfy their needs by purchasing a home built by a developer with a pre-determined design and specifications. Designs and specs are based on the developer's choices (not the buyer's). Depending on the developer the buyer may have some flexibility when selecting finishes, and cabinetry, etc.

In many parts of the country developers build large scale communities, in New York, however, this is extremely rare as there is very little undeveloped land left in the 5 boroughs (NYC, Queens, Brooklyn, Bronx and Nassau). In Queens and Nassau counties, for example, builders will often times buy homes in poor condition, tear them down, and re-build, or remodel and expand an existing home to the point where it is no longer recognizable.

Home buyers should not make the mistake of assuming that new construction is sound construction. You should do your homework, just as you would when buying a previously owned home. Investigate the builder, evaluate the location, get a through inspection, and negotiate for upgrades. Home buyers should feel comfortable with the builder before committing to a purchase. Whether through referrals, or personal research, the reputation of the builder should be checked carefully. A smart home buyer will visit other homes built by the same builder and should interview the homeowners, as durability of construction and homeowner satisfaction are extremely important.

From time to time you will find a group of homes, or a small-scale development in New York. However, they are often built on the developing edge of a neighborhood, so it is warranted to check the future plans for the community. Local zoning and planning departments may have a master development plan for the future development of an area. You should verify the school district and find out the general tax rate of the neighborhood.

It is also important to note that most new homes come with minimal landscaping, and it can cost the homeowner thousands of dollars to landscape. Most new homes also come with a basic level of finishes for carpeting, cabinetry and window treatments - do your research, sometimes it is cheaper to upgrade these features directly with the builder.

If you are considering a new home purchase give me a call today at 917-921-5397!