Real Estate
This Man Put A Window In His Kitchen Floor. The Reason? GENIUS!
By Mike Bell
From this angle is just looks weird and out of place.
Ah, it’s a hatch door to a room below. What’s down there?
The most incredible wine cellar you’ve ever seen. That’s what!
Pro tip: Don’t attempt descending down these stairs after a few glasses of wine.
From this angle is just looks weird and out of place.
And it’s definitely a conversation starter.
What’s a dream home without a wine cellar like this?!
You can choose to keep your wine cellar hidden, like this…
Or you can make it the focal point of the room.
Even if you don’t drink wine, the cellar could be used for extra storage space.
These cellars can cost upwards of $40,000. They may not fit your budget, but if you can afford it… why not?!
State of Connecticut Average Home Listings for 2014
According to the Coldwell Banker Home Listing Report, the average listing price of a four-bedroom, two-bathroom home in Connecticut is $423,117. Check out listings in Connecticut and the full state ranking for 2014 below. To see how your market compares nationally, visit hlr.coldwellbanker.com.
1-Greenwich, CT $923,690.00
2-Westport, CT $923,421.88
3-Weston, CT $776,541.67
4-Ridgefield, CT $735,111.54
5-Wilton, CT $701,800.00
6-Fairfield, CT $696,892.09
7-Stamford, CT $663,483.33
8-Redding, CT $652,444.44
9-Madison, CT $571,547.73
10-Norwalk, CT $563,411.76
Inside Secrets of a Real Estate Agent
TIPPING THE BUILDING STAFF: BRICKUNDERGROUND’S 2014 GUIDE
by Teri Karush Rogers
Does the service at your building seem a little more top-shelf lately? Most likely, that’s because Thanksgiving Weekend marks the kickoff of holiday tipping season.
Below, we’ve updated our tried and true tips for mastering the season of yuletide gratuities, including how much to tip, who to tip, and how. (Spoiler alert: Even your landlord might deserve some extra cash.)
Need more info? Check out the links following this article, which include everything you need to know about tipping pools, as well as alternatives to tipping in cash, the renter-versus-owner tipping divide, and how to tip staff you rarely see. To find out what your neighbors are planning to tip this year, take our two-click annual tipping poll:
THE BASICS
Q. Do I have to tip?
No. You’ll be in the minority, but tipping the staff at the holidays is a custom, not a requirement. Plenty of staff tell us they treat non-tippers the same as tippers—just as plenty of others admit to extending fewer favors (or making them pay-as-you-go) and fewer smiles to non-tippers.
DOLLARS AND SENSE: HOW MUCH TO TIP
Q. How much should I tip building staff?
The precise amount of each tip depends on the size of your building (the larger the staff, the smaller the individual tips), quality of service, staff seniority, length of time you’ve lived there, whether you own or rent (see below), personal chemistry, your financial circumstances, and whether you’re frugal, generous or somewhere in between.
Here’s a general framework—adjust accordingly.
- Super, resident manager: $75 to $175 on average (broad range: $50 to $500)
- Doorman, concierge: $25 to $150 on average (broad range: $10 to $1,000)
- Porter, handyman: $20 to $30 on average (broad range: $10 to $75)
- Garage attendant: $25 to $75 on average (broad range $15 to $100)
Q. How much should I tip total?
Much will depend on the size of your staff and the other factors cited above, but it may help to review the results of BrickUnderground’s 2013 tipping poll completed by more than 700 New Yorkers to get a sense of what others do. Here’s an overview:
- Owners in doorman buildings: Twenty-five percent of
Scroogesowners in doorman buildings reported tipping nothing at all, with the bulk (38 percent) reporting tips totaling between $250 and $1,000. On the high-roller end, 21 percent tipped in the $1,000 to $2,500 range, while just 4 percent said they anted up more than $2,500. - Owners in non-doorman buildings: Like owners in doorman buildings, about a quarter said they tipped nothing at all. More than half tipped up to $250, with only about 20 percent handing over more than $250.
- Renters in doorman buildings: In some ways, renters in doorman buildings were more generous than owners last year: Just 4 percent (compared to a quarter of owners) said they planned to tip nothing at all. About 25 percent of renters in doorman buildings tipped up to $250, another quarter tipped in the $250 to $500 range, and another quarter in the $500 to $1,000 range. About 20 percent tipped more than $1,000.
- Renters in non-doorman buildings: Twenty-six percent of renters in non-doorman buildings reported giving nothing to the staff, which, in a non-doorman rental, is likely comprised of just a super. A third of renters tipped up to $250, while 9 percent gave $250 to $500 total and 6 percent handed over $500 to $1,000. In a break from prior polls, 23 percent (23 respondents) reported tipping more than $2,500. (Perhaps a testament to the Airbnb sharing economy where renters rely on supers to turn a blind eye and/or lending a helping hand?)
Q. My building’s ‘doormen’ are actually security guards who don’t do much besides sit there. How much should I tip them?
While some security guards do just sit there, others work just as hard as doormen. In the former case, it’s okay to tip on the light side.
Q. One of my doormen is a jerk, and I never see my super. Do I have to tip them?
Rather than make what amounts to an all out declaration of war by completely withholding a tip, many residents in this position tip on the low end of the scale.
In BrickUnderground’s Naughty vs. Nice Holiday Tipping Poll two years ago, 65 percent of nearly 600 voters with “bad” doormen said they still planned to tip them, usually in the range of $25 to $50 apiece. As for those with delinquent supers, only 49 percent of the 455 respondents planned to give them some extra cash, clustering in the lower part of the $25 to $100 range.
Q. Should I tip the new doorman the same as the one who’s been here 20 years?
Newer doormen in their first few years of service often receive smaller tips. For instance, a first-year doorman may collect half what a senior doorman does.
Q. Is it okay to tip my favorite doorman more than the rest?
It’s okay to play favorites, like tipping some doormen better than others depending on how useful they are to you. Just try to keep everyone’s tip within the range of acceptability.
Q. Should the amount I tip correspond to the rent I pay, or how many people live in my apartment?
Tipping is (theoretically) about rewarding service, not about how big your apartment is or how much you pay for it. If you’re a family of five—or someone who works from home and receives a lot of deliveries or visitors–you probably receive a lot more service from the staff than a 25-year-old software developer who lives alone.
Q. I’ve had a financial setback and can’t afford as much as last year. What should I do?
Staff is accustomed to senior citizens on fixed incomes tipping lightly, and they are usually “forgiven,” though some workers say they won’t perform extra services for these residents gratis.
As for lost jobs, divorce, etc., many doormen tell us that if they receive a small amount—particularly from someone who normally tips just fine—they automatically attribute it to financial trouble and that there is no need to say “wish I could do more.” Of course, this won’t fly if you’re still taking your annual jaunt to St. Bart’s and waltzing in with Bergdorf’s bags. And if you frequently ask for favors, the “unable to make ends meet” card may eventually run its course.
Q. My building has a tipping pool. Do I need to give individual tips on top of that?
In practice, many residents continue to tip individually too, at least to the staff they see the most.
Q. Why do renters usually tip lower than owners?
Renters, as a group, tend to tip lower than condo and co-op owners in comparable buildings. Here are a few reasons why:
- Transience: Tips generally rise along with the amount of time you know the staff—and the amount of time you expect to need their services in the coming year—so part of the tipping disparity has to do with the less permanent nature of a renter’s life. (Or of market-rate renters at least. According to NYU’s Furman Center, owners and rent-regulated tenants stay put an average of 16 years and 12 years, respectively, while market-rate renters move every four years on average, with a median of two years.)
- Landlords: Some renters believe that holiday bonuses are the landlord’s responsibility, whereas in a co-op or condo, residents are their own landlord.
- Disposable income: There are far more renters at the early stages of their careers—and earning power—than owners. They simply have less money to spend on tips. Moreover, first-time renters who are also first-time New Yorkers may not be familiar with the custom of holiday tipping.
- Property values: With so much invested in the building, owners have a bigger stake in how the building is cared for.
FROM DOORMEN TO DOG WALKERS: WHO TO TIP
Q. Should I tip my landlord or management company?
What? Isn’t the rent enough?! No, seriously, there are actually situations where a gift, if not a cash tip, makes sense. If you have a close rapport with your small, mom-and-pop landlord, a nice bottle of wine is not out of order. Similarly, if you are calling the management company every other day to see if a larger apartment has become available to accommodate your growing family, a little something to stay top of mind (and top of the wait list) certainly wouldn’t hurt.
Q. How much should I tip non-building workers?
- Cleaning person/housekeeper: One to two weeks of pay.
- Cleaning service: Tip 15 to 20 percent throughout the year, as a portion of their earnings goes to the cleaning service. If the same crew cleans your apartment each time, a holiday tip (one week) is appreciated.
- Full-time nanny: One week’s pay minimum, or two if you can afford it. Or, one week’s pay and one week’s vacation.
- Regular babysitter: Consider tipping $25 to $50 in cash or a gift card
- Regular dog walker: One week’s pay
- UPS delivery: Since UPS assigns drivers to specific addresses, $25 to $50 if you have a lot of packages delivered. More if you have a lot of business-related deliveries.
- Mail carrier: By law, mail carriers can’t accept cash or anything worth more than $20. In reality, some (but by no means most) residents do tip in the $25 to $50 range, especially if they receive a lot of deliveries or a lot of mail that requires signatures. For a fuller discussion of the postal carrier tipping question, click here.
FYI, you do not need to tip your property manager, contractor (plumber, electrician, etc.), or real estate broker.
TIMING IS EVERYTHING: WHEN TO TIP
Q. When is the best time to give a holiday tip?
Doormen collect year-end tips from December all the way into February, but the bulk crosses palms in the couple of weeks leading up to Christmas.
This is not, however, what the staff necessarily prefers. Many doormen tell us that the beginning of December is better, so they can do their own holiday shopping. A few say they prefer the gratuities to be spread out, cutting down on the temptation to spend it all at once.
Q. Do I have to tip at the holidays if I tip all year round?
Residents who tip year round for extra services often go on the lighter side at year’s end—at least with the staff who’ve been receiving those a la carte tips.
Q. Do I have to tip for a full year if I just moved in?
It’s okay to prorate your gratuities, unless you didn’t tip for services performed in connection with the move itself.
QUESTIONS OF ETIQUETTE: HOW TO TIP
Q. Are checks okay or do I have to give cash?
Cash is preferred, but as a precaution against sticky fingers, write a check if you’re handing the tip to a super or another staff member to distribute. (Note: Most doormen we spoke to prefer to get their tips directly rather than via the super or another doorman.)
Can’t afford to tip in cash? All is not necessarily lost. Check out the BrickUnderground Guide to Alternative Tipping for some creative workarounds.
Q. Should I include a card or a note?
A plain white envelope is fine; no expensive cards are necessary. Most people keep notes short and sweet (“Thank you for your help this year” or “We enjoyed seeing your smile”) and that’s perfectly acceptable, though some doormen tell us they do appreciate a personal note explaining what exactly is most valued about their service.
Q. Are food or gifts an acceptable substitute for cash?
They’re appreciated, but until colleges start accepting cookies for tuition payments, gifts are no substitute for money.
Q. How do I tip staff I rarely see?
You can ask the super or another staff member to hand out your envelopes but as mentioned above, write a check instead of using cash to reduce the possibility of pilfering. Include a family photo if you think the recipient may not be able to connect your name to your face.
Q. Do staff tell each other how much they’re tipped?
Some do, so to be on the safe side, assume yes. Also, be aware that many staff members keep lists comparing your tip this year to prior years. You should do the same.
TAXES, INFLATION AND MORE FINANCIAL CONCERNS
Q. Should I bump up tips each year to keep up with inflation?
You don’t have to be quite that lockstep, but a bump up every two or three years isn’t unreasonable, all other factors being equal.
Q. Are tips tax deductible?
If you run a business from home, you can claim a small deduction of up to $25 per staff member, categorized as a “business gift” on your tax return, says Manhattan accountant Koreen Jervis of Korje Tax Professionals.
The percentage you can deduct must correspond to the amount of your apartment used as office space, however. That means that if your tax return states that 25 percent of your apartment is used for business, you will only be able to claim 25 percent of the $25 deduction, which works out to $6.25 per tippee.
Happy Thanksgiving!
Real Estate Myth Buster
In this LXTV Open House segment, we tackle age-old real estate myths to determine if they’re truly fact or fiction.
When it comes to real estate, there can be a lot of opinions. Sometimes, it can be hard to tell what is fact and what is fiction. Is Spring really the only season to sell my home? Is location, location, location the number one factor in real estate?
Wondering if something is fact or fiction? Well, Ron Aiosa of the Coldwell Banker Boswell Aiosa Group is our real estate myth buster. Aiosa answers questions about curb appeal, the importance of location, and the cost of remodeling. Check out the feature below, which first appeared on LXTV Open House, to find out what is real estate fact and what is real estate myth.
9 Overlooked Items to Prep Your Home for Sale
9 Overlooked Items to Prep Your Home for Sale
So you’ve prepped your home cosmetically for sale in every imaginable way – fresh paint, a deep cleaning, new landscaping, decluttered closets and even organized the garage! Your house looks better then it ever has and you are ready to hit the market! Before you proceed with the “For Sale” sign in the ground, there are several key pieces of information that you should consider gathering that today’s savvy buyers are going to want to know.
So you’ve prepped your home cosmetically for sale in every imaginable way – fresh paint, a deep cleaning, new landscaping, decluttered closets and even organized the garage! Your house looks better then it ever has and you are ready to hit the market! Before you proceed with the “For Sale” sign in the ground, there are several key pieces of information that you should consider gathering that today’s savvy buyers are going to want to know.
1. Survey – Do you have a copy of a current survey on your home? Have this document available and provide to your listing agent so they can include in the information about your home. Buyers want to know about property lines, easements, conservation buffers, if there is room for a pool, if the property line extends to the water behind your home, etc. Having a survey to provide upfront will help to eliminate these types of concerns vs. waiting until a property is under contract.
If you’ve made any changes that would affect your property such as adding a pool or fence since you took ownership and are not shown on your current survey, it’s important to advise the buyer. A new survey will usually need to be ordered prior to closing in this scenario. If you don’t have one from when you purchased the home, try contacting the title company or attorney’s office that handled the closing of the property. Depending on how long ago that was, they may be able to retrieve from their archives.
2. Floorplan or Appraisal Sketch – Buyers often need to know room dimensions as it helps with determining furniture placement and to ensure how what they have will fit (or have to be reconfigured) in the new space. As any real estate agent can attest, many hours have been spent measuring spaces while looking at a home and comparing that against the existing buyer’s furniture dimensions. I’ve encountered entire home searches that revolved around a great room accommodating an entertainment center and the garage size so a motorcycle could fit in addition to the cars!
An appraisal is helpful as it can confirm the exact square footage of a home vs. relying on tax records which may not be accurate. We’ve all heard stories where the appraisal showed the actual square footage that was smaller than what was initially represented in a listing sheet. Having an appraisal will help to ensure that does not happen. You should have received a copy of the appraisal if you obtained a mortgage loan from your lender or if you refinanced. If you don’t have either, consider having a floorplan drawn up or home measured by an appraiser when prepping your home for sale. Your agent can assist with resources to this effect.
3. Utility Bills – Buyers want to get an idea of what they can expect the heating and cooling bills to be in a home. Review your bills over the last one to two years to get an average in the various seasons, or call your local utility provider as they can often provide you with information on the high, average and low costs. This information can be very beneficial when a buyer sits down to number crunch their total costs of owning a home. If you had an unusually high or low bill, provide some explanation to accompany the numbers.
4. Termite Bond – In many markets where termites are alive and well, it is common place for homes to have some sort of protection plan in place which is also known as a bond. InFlorida, where I live and work, this is a primary concern and often one of the first questions buyers and their agents want to know. Prior to listing your home, obtain a copy of your termite bond policy from the provider, know exactly what type of bond you have – repair or treatment bond and up to what dollar amount of coverage is it good for. Also know how long the bond is in effect, when it is up for renewal and what the renewal fee is, if there is a transfer fee and what does it provide protection for – not all bonds provide protection against all different types of termites.
5. Pest Control – If you maintain any type of pest control on your property, compile information as to who the provider is, what you have done, how much you pay and how often does the company come out to treat the property. A copy of your service agreement is helpful in this instance.
6. Insurance – Buyers especially want to know who a seller uses for their homeowners insurance and how much they pay. This is particularly the case in higher risk areas (where there are hurricanes, floods, fires, etc.) With homeowners insurance potentially more difficult to obtain in some areas, going through the existing seller’s insurance company can help streamline the process, particularly on an older home.
7. Product Manuals and Warranty Documents – Now is the time to gather the various product manuals for all items that will be staying in the home such as appliances, water heater, heating and cooling system, ceiling fans, pool equipment, etc. If your home came with any warranties, be sure to include these for the new owner as well. Putting all of these in one large envelope makes it easy for everything to be readily accessible in one place for the new buyer.
8. Service Providers – Compile a list of all service providers/vendors and their contact information who you have used on your home – lawn service, pool service, A/C company, etc. While a new buyer may or may not choose to use these services, they will certainly appreciate having resources available to them and may elect to initially use them as they make the transition to living in your home.
9. Covenants and Restrictions, Neighborhood Rules and Information – This is key critical information for a new owner to have on hand. A contract may likely hinge on the buyer’s review of this information, so easiest to have it available ahead of time. If you don’t have these, contact your neighborhood’s association president or management company for assistance in obtaining a copy. Many of these documents are matters of public record and are available by going online to the appropriate municipality’s website.
Work with your agent to create an informational package or binder that you can provide to prospective purchasers that come through the home with the information mentioned above. Gathering this information before you put your home on the market will save time and make the process that more efficient once you find a buyer. It may even help your home to sell faster as all of this information is available upfront, eliminating the need for guesswork and waiting on answers while another property could possibly come on the market to grab the buyer’s attention. You want to help keep the buyer focused on your home, so make it easy for them to buy by giving them what they want. Happy selling!
If you have additional questions, please call me at 914-215-2025
8 Tips For Finding Your First Home
8 Tips For Finding Your First Home
The following post comes from Coldwell Banker Vanguard Realty, Inc. agent, Kim Knapp. Kim is an experienced agent in Northern Florida and has a great team who has worked with countless first-time home buyers.
Here are her 8 tips to help make finding that first home go as smoothly as possible:
1. Research before you look.
Decide what features you most want to have in a home, what neighborhoods you prefer, and how much you’d be willing to spend each month for housing.
2. Be realistic.
It’s OK to be picky, but don’t be unrealistic with your expectations. There’s no such thing as a perfect home. Use your list of priorities as a guide to evaluate each property.
3. Get your finances in order.
Review your credit report and be sure you have enough money to cover your down payment and closing costs. Then, talk to a lender and get prequalified for a mortgage. This will save you the heartache later of falling in love with a house you can’t afford.
4. Don’t ask too many people for opinions.
It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion, but be ready to make the final decision on your own. You will be the one that will be ultimately living in the home and paying the mortgage payment.
5. Decide your moving timeline.
When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? All of these factors will help you determine when you should move.
6. Think long term.
Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in this home for a longer period? This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that will best suit you.
7. Insist on a home inspection.
If possible, get a warranty from the seller to cover defects for one year.
8. Get help from a REALTOR®.
Hire a real estate professional who specializes in buyer representation. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. Buyer’s reps are usually paid out of the seller’s commission payment.
Please call if you are looking for a home in Stamford or Fairfield county. My cell is 914-215-2025.
DON’T SHOP FOR HOMES ALONE
DON’T SHOP FOR HOMES ALONE
Written by Blanche Evans
Homebuyers are increasingly shopping for homes with a real estate agent. Eighty-eight percent of buyers purchased their home through a real estate agent or broker, up from 69 percent in 2001, says a new report from the National Association of REALTORS®.
That means your competition has professional help. Do you?
When buyers were asked where they first learned about the home they purchased, 43 percent said the Internet. That’s up from 36 percent in 2009. Thirty-three percent learned about their home from a real estate agent. That’s pretty impressive odds.
So in the age of home buying apps, why are more buyers using a real estate agent? A number of reasons. First, the bubble and implosion in housing values made buyers more cautious. Then the housing market rebounded, leaving many buyers unprepared for bidding wars, investors, and a tighter mortgage market. Last, buyers have been on the sidelines so long, that they’re entering the market with more maturity than buyers of past generations.
There’s no reason not to use all the help you can get. Licensing laws allow agents to work with both buyers and sellers as both fiduciaries and non-fiduciaries, depending on state disclosure requirements.
When an agent contracts with a seller to sell their home, the agent contracts commission fees with the seller to cover the costs of paying the buyer’s agent. Buyers may not realize that most agents are paid at the closing, and that they won’t be out any upfront money to hire their own agent.
Having an agent multiplies the buyer’s chances of finding the right home at the best price. The buyer’s agent networks with other agents to find the right home and they learn which homes are coming onto the market before the general public. Many homes are bought and sold without a sign ever going into the yard.
But, if a buyer goes to open houses, or builder model homes without registering their buyer’s agent’s name, or calls on a listing without mentioning their agent, the listing agent or builder’s agent has every right to assume the buyer is unrepresented. They may refuse to pay the buyer’s agent commission.
Today’s agents are like today’s buyers and sellers. They’re more technology-savvy and willing to work hard to please their buyers. They know that buyers eventually become sellers, and sellers become repeat buyers.
That’s how good agents build their businesses, through repeat business and referrals. They are highly motivated to do the best job possible for homebuyers.
Why wouldn’t any buyer want to take advantage of that?
Chris Maroc-As your professional real estate adviser, I will focus on your satisfaction. My business is about service and I am not happy until you are happy. I will share in-depth knowledge of the area, recent sales comparisons, market data, and strong negotiating skills. I will find you a home that will best suit your needs and budget. Please call me at 914-215-2025
















