Hidden Dangers of the Virtual Tour for the Home Seller

One of the marketing tools used by realtors in an attempt to sell your home is the virtual tour. What happens is an outside company comes in and creates basically a panoramic movie allowing the viewer to virtually walk through the interior of the home. At first I thought, well it could have value. But after consideration and the 50 years of experience I have, I knew a movie is not the same as being physically there.

When a buyer calls and has a conversation with the realtor, in the absence of a virtual tour, obviously the buyer asks questions rather than coming to conclusions while watching the tour. This develops an empathetic relationship between the buyer and the realtor. What it really does is save time for both realtor and buyer since the realtor now understands what is important to the buyer.

Today this marketing tool may lead to disastrous consequences. The economy being what it is, the last thing anyone would want to do is divulge the contents of their home and where they are located to a potential criminal. These tours provide the layout of your home, windows, doors, means of egress and ingress, potential hiding places, closets, etc. Also visible are the inhabitants, their ages and whether or not there are young children. The tour takes you outside to show off the beautiful grounds, privacy, proximity to other homes and the affluence of the neighborhood.

What a wonderful gift!
A blueprint for the criminal!

State of New York Medicaid System

Recently I uncovered some information regarding the Medicaid system in the State of New York. Here is what happened; a naturalized citizen, arranged to have her mother brought to the United States with a Visa (I assume). The mother lived in her daughter’s house. Obviously the mother was unemployed since (1.) She couldn’t speak English and (2.) The daughter was providing for her. Not having any money or bank account in the State of New York, you are eligible for Medicaid.

The mother falls, breaks her hip and is brought to the local hospital where an operation is performed. The mother was agitated and angry, kept trying to get out of bed and eventually fell on the floor breaking the hip again, 2nd surgery. She remained in the hospital for recovery for a period of 2-3 weeks but plateaued and as with normal health insurance the hospital said she must go to a rehabilitation facility. For hospital charges, medications and doctors, she was billed NOTHING. She then went to a nursing home/rehabilitation center approximately the third week in September 2007 where she has remained until the present. Now she has a private room with a seating area, has learned to play Mahjong and participates within the party atmosphere. Of course there are back rubs, snacks; you know the same as we get with our health insurance.

The total bill so far is NOTHING. You and I would probably be paying at least $4,000 per week and we would be dropped by our insurance carrier between 2-3 months (and I know I’m being extremely kind).

Do you think that the State of New York’s present financial condition was affected by their Medicaid policy? Remember that the Medicaid program is offered to anyone whether a citizen or immigrant coming into the state system.

What a screwed up system. No Problem, WE pay for it.

In 2008-2009 the NY State Medicaid spending will be $46.3 BILLION,

a 2.7% increase from 2007-2008

North Shore Long Island Real Estate Market

The North Shore of Long Island certainly is a curious real estate market. Why would the $600k-$800k market be so adversely affected and the $1 million to $2 million market the least impacted? However, once you get over $2 million, whether it be new construction or existing estates, there is buyer resistance.

Could it be that the $600k-$800k prospects represent the largest group of buyers with income to support that price range, yet feel value is dropping and their jobs are in jeopardy due to the economy? Factor in rising school taxes, cost of utilities, heating a home and gas, you have few buyers who are comfortable.

So what happens over $2 million? Maybe the rich aren’t getting richer…