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Suffolk County NY home sales may be looking at a big surge this spring with a lot of frustrated buyers looking for homes and sellers starting to put their homes on the market.Suffolk County NY home sales are beginning to look like the start of a perfect storm for real estate. A combination of frustrated buyers from a lack of inventory, and sellers starting to put their homes on the market may mean the spring selling season could poised for a surge… one for the record books.

Typically, the spring selling season (March through June) is when more than half of all homes in the U.S. are sold. The market is getting a later start than usual this spring due to the bad weather all over the country.

Suffolk County NY home sales declined in February to the lowest level since mid-2012, with the number of contracts signed with the intention of buying falling to the lowest level since 2011.

Applications for mortgages to purchase homes dropped in February to the lowest since 1995, according to an index from the Mortgage Bankers Association that is seasonally adjusted. By mid-March, the gauge regained about 12 percent from that low, while remaining about 17 percent below the level it was during the same week in 2013.

Nationwide, U.S. home prices rose 12.2 percent in February compared to February 2013, up slightly from January's year-over-year pace of 12 percent. The number of available homes remains below the level typical of a healthy market.

Suffolk County NY Home Sales May See Exaggerated Bounce

Fannie Mae and the Mortgage Bankers Association are predicting 2014 Suffolk County NY home sales to see a bit of an exaggerated seasonal bounce due to so many eager buyers wanting to purchase homes.

Lenders expect Suffolk County NY home sales to pick up because so many potential home buyers want to lock in a mortgage ahead of any possible uptick in mortgage rates.

Borrowing costs have risen as the Federal Reserve continues tapering stimulus efforts that have kept interest rates low. Policy makers cut monthly bond purchases to $55 billion this month, from $85 billion last year. Fed Chair Janet Yellen said the program could end this fall and that the benchmark interest rate, which has been close to zero since 2008, may rise six months after that.

Nationally, the supply of homes for sale is bigger than last year, according to the National Association of Realtors. At the current sales pace, it would take 5.2 months to sell the properties on the market in February, compared with 4.6 months a year earlier.

Suffolk County NY home sales are expected to pick up momentum as we head into the second half of April and into May and June. Watch for the housing market, like the rest of the economy, come to live in the next couple of months.

For more on Suffolk County NY home sales, including other news relating to Suffolk County NY real estate, visit our Suffolk County NY Real Estate News section of articles under our Suffolk County NY Real Estate Categories to the right.

Suffolk County is one of 62 counties in New York. The county is in the New York metro area. We can help you find real estate in any of these areas of Suffolk County: Babylon, Bellport, Centereach, Cold Spring Harbor, Commack, Dix Hills, Farmingdale, Farmingville, Greenlawn, Half Hollow Hills, Hauppague, Holbrook, Holtsville, Huntington, Islandia, Islip, Lake Grove, Lake Ronkonkoma, Lindenhurst, Melville, Oakdale, Patchogue, Sayville, and Smithtown. Just click the "Search for Suffolk County NY Real Estate" link at the top or bottom of this page.
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Suffolk County NY real estate is now fully into quarter number two, and we're still curious to see where 2014 is headed.

In 2013, Suffolk County NY real estate was up, along with most markets across the U.S. Now that the first quarter of 2014 is in the books, Suffolk County NY real estate continues to improve, although not at the pace we saw in 2013, but we have a lot of real estate sales months to go before we can say that 2014 was better or worse than 2013.

Brock Maclean, EVP of Homes.com takes a look at housing for 2014, offering his thoughts and insight on the housing recovery, home affordability, and mortgage rates…

If you're in the market for Suffolk County NY real estate, contact us today. We can assist you in finding the right Suffolk County NY real estate for your budget and needs, while at the same time, offering you our professional expertise. This means when shopping for Suffolk County NY real estate, you will have professional help, while not costing you any more than going it alone. Why would you buy any other way? Contact us for assistance in buying any Suffolk County NY real estate.

Suffolk County is one of 62 counties in New York. The county is in the New York metro area. We can help you find real estate in any of these areas of Suffolk County: Babylon, Bellport, Centereach, Cold Spring Harbor, Commack, Dix Hills, Farmingdale, Farmingville, Greenlawn, Half Hollow Hills, Hauppague, Holbrook, Holtsville, Huntington, Islandia, Islip, Lake Grove, Lake Ronkonkoma, Lindenhurst, Melville, Oakdale, Patchogue, Sayville, and Smithtown. Just click the "Search for Suffolk County NY Real Estate" link at the top or bottom of this page.
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Declining Suffolk County NY home sales is actually one negative the Fed seems willing to live withDeclining Suffolk County NY home sales doesn't seem to be worrying the Federal Reserve any these days. Fed Chair Janet Yellen indicated recently, the government is keen to continue its support of the economy via purchases of Treasurys and mortgage-backed securities. However, the amount of which it invests is being gradually phased out.

After the recent Federal Open Market Committee meeting, Yellen said that the Fed could start raising short-term rates "about six months" after it completed its ongoing tapering of Treasury and bond purchases, which most expect to be completed by the fourth quarter of 2014.

Suffolk County NY Home Sales Dependent on Jobs

With Suffolk County NY home sales largely dependent on good employment numbers, and with Yellen seemingly changing her tune on where the economy is as far as employment numbers are concerned, she gave four reasons why she thinks the employment numbers are still soft.

1 – The large number of part timers working who would prefer full time jobs, but just can't find them.

2 – Stagnant wages where compensation has increased an average of only a little more than 2% per year since the recession.

3 – The large number of long-term unemployed who have been out of work for six months or more.

4 – The historic low rate of labor market participation–the proportion of working-age adults that hold or are seeking jobs. This number now stands aat 63%, about the same as it was in 1978.

New home sales of single-family houses in February dropped 3.3% to 440,000, reaching a 5-month low, according to the latest report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

The Fed often cites improving economic benchmarks, such as the nation adding more jobs, as necessary to justify the reduction of monetary support.

With spring comes new homebuyers into the market, and declining Suffolk County NY home sales should turn around. But Yellen's comments about the nation needing to add more jobs as necessary to reduce the monetary support, seems to suggest that declining Suffolk County NY home sales is actually one negative the Fed is willing to live with and is likely to continue on its path of pulling support for secondary markets.

We'll keep you posted on any further news coming from the Fed that may, or may not, affect not only Suffolk County NY home sales numbers, but the nation as a whole.

Get further news as it affects Suffolk County NY home sales by clicking the Suffolk County NY Real Estate News link to your right under Suffolk County NY Real Estate Categories.

Suffolk County is one of 62 counties in New York. The county is in the New York metro area. We can help you find real estate in any of these areas of Suffolk County: Babylon, Bellport, Centereach, Cold Spring Harbor, Commack, Dix Hills, Farmingdale, Farmingville, Greenlawn, Half Hollow Hills, Hauppague, Holbrook, Holtsville, Huntington, Islandia, Islip, Lake Grove, Lake Ronkonkoma, Lindenhurst, Melville, Oakdale, Patchogue, Sayville, and Smithtown. Just click the "Search for Suffolk County NY Real Estate" link at the top or bottom of this page.
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Here are 5 tips for getting your Suffolk County NY yard in shape to take on the summer weatherFinally spring is here. Time to start working on getting your Suffolk County NY yard ready for the coming summer weather. It's always great to see green grass again when all you've been looking at all winter is dormant grass (unless you planted winter rye and have been seeing green all winter.)

With spring comes a greening of your Suffolk County NY yard and the hope and promise that there will be plenty of yard work for months to come.

Tips for Getting Your Suffolk County NY Yard Back in Shape

Stay off the grass. Wait for the ground to dry before walking on it to pick up branches and other debris. When it's wet, footprints can damage turf and give weeds a chance to take hold.

Keep an eye on that tree. Feeling a little iffy about that big old oak tree that's next to your house? A tree with a pronounced lean to one side signals a problem and so do unhealthy or off-color leaves, a branch without leaves in summer, or little bark. Most roots are within a foot from the surface, so any activities that affect the soil, such as a new driveway, often affect the roots. To learn whether your trees are at risk of failing, find a certified arborist at the site of the International Society of Arboriculture.

Sharpen those blades. Dull mower or tractor blades stress the grass, making it more prone to disease. Sharpen them and they'll cut cleaner and faster. Experts suggest having the blades sharpened and balanced three times during the growing season.

Test your soil. Why guess what your soil needs when you can spend as little as $10 for the experts at your local cooperative extension to test it and provide solutions. Some even come to your house. You'll find out if limestone is needed to raise the pH of acidic soil or sulphur for lowering the pH of alkaline soil. A complete test analyzes nutrients and offers a fix. You'll find your local extension here.

Dandelions may not harm your Suffolk County NY yard.Find out which weeds are trouble. While you have your co-op extension expert on the phone, ask which weeds and pests your Suffolk County NY yard can tolerate. Dandelions may improve the soil structure, but if you're not wild about them, you might want to cut off their heads before they go to seed or use a special fork-like tool to pull them out, removing the entire root. Clover takes nitrogen from the air and nourishes the soil.

Just these 5 Suffolk County NY yard tips for spring can mean a big difference in the look of your lawn during the summer months.

These are just a few of the many ways to get your Suffolk County NY yard ready for summer. For more home improvement tips, visit our Suffolk County NY Home Improvements section under Suffolk County NY Real Estate Categories to your right for more articles and information.

Suffolk County is one of 62 counties in New York. The county is in the New York metro area. We can help you find real estate in any of these areas of Suffolk County: Babylon, Bellport, Centereach, Cold Spring Harbor, Commack, Dix Hills, Farmingdale, Farmingville, Greenlawn, Half Hollow Hills, Hauppague, Holbrook, Holtsville, Huntington, Islandia, Islip, Lake Grove, Lake Ronkonkoma, Lindenhurst, Melville, Oakdale, Patchogue, Sayville, and Smithtown. Just click the "Search for Suffolk County NY Real Estate" link at the top or bottom of this page.
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If you're considering buying a Suffolk County NY home, one of the things you want to be cautious about is buying a flipped home.

What Is a Flipped Suffolk County NY Home?

Profits from flipping a Suffolk County NY home come from either buying low and selling high (often in a rapidly-rising market), or buying a house that needs repair and fixing it up before reselling it for a profit ("fix and flip").

Under the "fix and flip" scenario, an investor or flipper will buy a Suffolk County NY home at a price often deeply discounted from the home's market value. The discount may be due to the home's condition (e.g., the home needs major renovations and/or repairs which the owner either does not want, or cannot afford to make) or the owner(s) needing to sell a home quickly (e.g., relocation, divorce, pending foreclosure).

The investor will then perform necessary renovations and repairs, and attempt to make a profit by selling the Suffolk County NY home quickly at a higher price (closer to or maybe a bit above market value). The "fix and flip" scenario is profitable to investors because the average home buyer lacks the time and funds to repair and update the home, so they seek out a move-in ready home instead, even if it is a little above market price.

Here is one report where a buyer got stuck for more than she bargained for when buying a flipped home…

It should be pretty obvious from watching the video, but we'll say it anyway. When buying a Suffolk County NY home, always use the services of a real estate agent or broker, and have your agent research the history of a home before you buy it to make sure it's not a flipped Suffolk County NY home.

For more Suffolk County NY home buying tips, check out our other articles by clicking on the Suffolk County NY Home Buying Tips link to your right under Suffolk County NY Real Estate Categories.

Suffolk County is one of 62 counties in New York. The county is in the New York metro area. We can help you find real estate in any of these areas of Suffolk County: Babylon, Bellport, Centereach, Cold Spring Harbor, Commack, Dix Hills, Farmingdale, Farmingville, Greenlawn, Half Hollow Hills, Hauppague, Holbrook, Holtsville, Huntington, Islandia, Islip, Lake Grove, Lake Ronkonkoma, Lindenhurst, Melville, Oakdale, Patchogue, Sayville, and Smithtown. Just click the "Search for Suffolk County NY Real Estate" link at the top or bottom of this page.
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