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Pierre's TIPS on Brooklyn's Market

What a TOP PRODUCER says ABOUT BROOKLYN REAL ESTATE MARKET!

By Pierre S King (Free Real Estate Tips From The King) | Broker in Brooklyn, NY
  • Everyone Loves a Deal whereas Are Short Sales The Next Hot Trend/ SEE WHY!

    Posted Under: Home Buying  |  May 25, 2010 3:15 PM  |  1,045 views  |  2 comments

    EVERYONE LOVES A DEAL

     

    ARE SHORT SALES THE NEXT HOT TREND? SEE WHY!

    Is it REAL? Did you miss out on the long-promoted $8,000 Tax Credit for First Time Home Buyers and $6,500 for Second Timers? Well, this time I’m quite sure you’ll be on TOP OF THINGS! Watch Out, the next HOTTEST market trend will be SHORT SALES.

    Home Owners who made bad judgments, and are trying to avoid FORECLOSURES, are increasingly seeking other options such as LOAN MODIFICATIONS or SHORT SALES! Some wise words: WHY HOLD ONTO A STRAW WHEN DROWNING? Many home owners hold on when they just can’t afford a home! It’s better to let go, than to be kicked out (FORECLOSED)!

    According to a MSN Money article on the rise of Short Sales, they are not pretty but rather popular. 

    Click Here

    Foreclosures are on the rise; it’s better to do a SHORT SALE than risk 3 years or more of BAD CREDIT HISTORY to FORECLOSURES!

    Thanks of reading my Blog, and please keep coming back for more information!

    Pierre S. King, Associate Broker
    Weichert - H .P. Greenfield
    718 692-4444 Office
    718 253-6853 Fax
    917 407-6697 Cell
    http://www.kandhHomes.com
    http://www.hpgreenfield.com
    WHEN PROPERTIES ARE FOUND CALL ME: http://www.weichert.com
    email:MrRealEstateKing@yahoo.com
    JOIN ME FOR FREE TIPS:
    http://www.twitter.com/crealestateking
    http://www.youtube.com/user/MrRealEstateKing

    http://www.trulia.com/blog/PierreKing/
    http://www.linked.com/in/pierreking
    http://www.activerain.com/1realestateking

  • WHY DO BUYERS WAIT FOR THE LAST MINUTE?

    Posted Under: Home Buying  |  April 27, 2010 12:09 AM  |  2,573 views  |  No comments

    RACE TO THE FINISH LINE OF THE $8,000 TAX CREDIT!

    Many thanks to my readers for your continuous support. I invite you to keep coming back for TIPS on How to BUY & SELL in a DOWN Market.

     

    On September 4, 2009, I wrote the following article:

     

    Click Here: http://www.trulia.com/blog/pierreking/2009/08/cash_for_clunkers_ends_todayguess_what_s_next

     

    It was a rush for the finish line. For those who didn’t make it, or who had a difficult time recovering from what was lost, remember that it’s not finished until the “FAT MAN SINGS!” Therefore, First-Time Home Buyers, don’t give up. Ask your Realtor to SPEED UP THE PROCESS, acting as or hiring a Mail Courier (RUNNER) to EXPEDITE the paperwork. Get out today, be in CONTRACT by THURSDAY, APRIL 30, 2010; the rest can be done by JUNE 30, 2010!  

    MAKE AN OFFER! DON’T LOW BALL! DON’T MAKE ISSUES OUT OF NON ESSENTIAL THINGS!

    AGENTS, be assertive with your BUYERS OR SELLERS during the home search process! Don’t give up on the process! If you’re thinking of doing so,

    CLICK HERE: MAKE THE DEADLINE!

     

    Pierre S. King, Associate Broker
    Weichert - H .P. Greenfield
    718 692-4444 Office
    718 253-6853 Fax
    917 407-6697 Cell
    http://www.kandhHomes.com
    http://www.hpgreenfield.com
    WHEN PROPERTIES ARE FOUND CALL ME: http://www.weichert.com
    email:MrRealEstateKing@yahoo.com
    JOIN ME FOR FREE TIPS:
    http://www.twitter.com/crealestateking
    http://www.youtube.com/user/MrRealEstateKing
    http://www.trulia.com/blog/PierreKing/
    http://www.linked.com/in/pierreking
    http://www.activerain.com/1realestateking

    p>
  • COMMON MISTAKES BUYERS MAKE

    Posted Under: Home Buying in Brooklyn  |  April 21, 2010 8:51 PM  |  2,738 views  |  No comments

    HOME BUYERS' TIPS ON HOW TO BUY A HOME

     

    Thanks for the search! Keep coming back for more interesting articles on buying and selling real estate.

    I was searching the web, early this morning, and came across a very interesting article which I thought would be beneficial to HOME BUYERS. In it, buyers will find TIPS on everything they need to know to come out ahead when buying a HOME, CONDO OR COOP.  It also includes TIPS on:

    · Negotiating  the deal;

    · Avoiding scams and pitfalls:

    · Where and where not to buy;

    · The  legal process ;

    · How to choose a good real estate professional, and many more.

     

    Buyers:  it's better to be prepared and informed of the Buying & Selling process, and come out ahead.

     READ! CLICK HERE: http://www.housebuyingtips.com/usedhomes.htm

    Time is running out for FIRST-TIME HOME BUYERS.  Click below for additional information!

     “FIRST-TIMERS, YOU GOT LUCKY! UNCLE SAM WAS ON YOUR SIDE!”

    Pierre S. King, Associate Broker
    Weichert - H .P. Greenfield
    718 692-4444 Office
    718 253-6853 Fax
    917 407-6697 Cell
    http://www.kandhHomes.com
    http://www.hpgreenfield.com
    WHEN PROPERTIES ARE FOUND CALL ME: http://www.weichert.com
    email:MrRealEstateKing@yahoo.com
    JOIN ME FOR FREE TIPS:
    http://www.twitter.com/crealestateking
    http://www.youtube.com/user/MrRealEstateKing
    http://www.trulia.com/blog/PierreKing/
    http://www.linked.com/in/pierreking
    http://www.activerain.com/1realestateking

  • FIRST-TIMERS, YOU GOT LUCKY! UNCLE SAM WAS ON YOUR SIDE!

    Posted Under: Home Buying in Brooklyn  |  April 17, 2010 8:08 AM  |  2,643 views  |  No comments

    DO YOU NEED HELP COMPLETING THE BUYING PROCESS?



    To My Readers:

    I've been away a while, but am back, ready and eager to share my real estate expertise with you. In the coming weeks, I will be discussing the following topics and more:

    How Powerful WOMEN are in the Decision-Making Process of Buying and Selling;
    What Added Values a Real Estate Professional Brings to the Process;
    7 Deadly Mistakes Sellers Make When Bringing  Properties to the Market;
    The Consequences of Holding Out in Hope For a More Favarable Market;
    Are Home Prices on The Upside?
    What Happens When Interest Rate Start Climbing!

    Look out for answers to all of your real estate questions, concerns or issues. Keep coming back for valuable TIPS to the BUYING AND SELLING process!

    Pierre King, Associate Broker
    Weichert - H P Greenfield.


         FIRST-TIME HOME BUYERS, DO YOU NEED HELP?




    No doubt many of you are shaking your heads in disagreement! Yet, how easily we forget how time slowly creeps up on us. It’s not important how much time you have; the key is what you do with the time you’ve been given. So, with this grace period from Uncle Sam, you must prepare in order to beat the deadline! It may seem impossible, but nothing is!

    Nervous, Arrogant, Cautious, Excited -- are these words familiar? First-timers, these words may seem contradictory, but sum you up. Evidently, you’re many things at once. You are:

    · Afraid to pay too much;

    · Excited to get a good deal;

    · .Confused because of the number of homes/the many choices; and

    · The circumstances under which sellers are selling – short sales and foreclosures.

     

    But that’s OK; all will be well, with the necessary guidance. Let’s thank Uncle Sam for extending the $8,000 tax credit for first-time home buyers, as well as $6,500 for second-timers as start-up capital. However, the end is quickly approaching! What’s next?

    Let us review some false assumptions that can derail first-time home buyers.

    ·     The Housing Market Is Weak

    For many months I remained positive about selling homes in today’s housing market; many others concluded otherwise, mostly local and national television stations that kept reminding us of how terrible the market was. Were homes selling? Definitely, yes! The difference was that the number of transactions per month declined compared to previous years. Those buying in such a market did so because interest rates and home prices were low. Were they smart? Absolutely! They realized the environment and who they were competing against, wasted no time and bought.

    Who were their competitors? The by-standers who were timing the market, sitting on the fence, anticipating that prices would decline even further, and hoping they could use their homes as ATM machines! While they waited, the rules on how banks were lending funds changed, and became tighter.

    First-timers: inventory is gradually running low, and time is against you. So, if there are others who are attempting to beat the 11:59 p.m. April 29th, 2010 tax credit deadline, you must be in a legal and binding contract. Therefore, why wait? My advice to you: Buy before the rush! If you can’t beat the rush, always take this into consideration.

    ·     I Need to See All the Options

     

    Many first-timers proceed with excessive caution. Why? They tend to believe that there’s an infinite inventory, which feeds their desire to find that perfect home. They, therefore, procrastinate, not realizing how confusing it becomes after seeing so many homes. To avoid this predicament, you must make sure your real estate professional arms you with facts and data, e.g., which homes have sold in the area; how much they sold for; what types of interest rates are available; and how low are those rates!

     

    Today’s rates are comparable to the 1950s; they are so low, the only direction they can go is up! If they reach a plausible 7¾% -- which is still considered as low -- prices may have to go down another 15% to make up the difference in the monthly payments.

     

    ·     I’ve Found a Bargain

     

    First-Time Buyers: It’s true that affordability is at a record level today, but many buyers need help putting price into perspective. I agree there are many deals, but what are you getting for your money? If the market value of a home is $420,000, is selling for $325,000, but requires additional fix-up at a cost of $60,000, would you rather buy this home or purchase one at $400,000 that requires no work? This is the dilemma most first-timers face. Often, they have to be ferried around, looking at house after house, before arriving at the decision that they don’t want to do so much work. To avoid this do the math!

    First-timers, time is of the essence! Before going out to look at homes, have your real estate professional give you a buyer’s consultation. At that consultation, where you will bring along your supporting documents, and a list of what you are looking for in a home, make sure to establish the following:

    · Financially, how much you qualify for

    · What type of property, and the location, etc

    Come prepared to spend at least 2 hours.

    Remember, this could be a test. The Real Estate professional may be trying to establish whether or not you are a serious buyer.

  • FORECLOSURES ON THE RISE! HOW TO HANDLE FORECLOSURES!

    Posted Under: Home Selling in Brooklyn  |  November 20, 2009 5:28 AM  |  3,152 views  |  No comments

    IS IT TIME TO WALK AWAY OR TO BUY TIME?

     

    The high number of foreclosures has caused banks to change the way they give loans to new applicants, making it extremely difficult to borrow money in today’s financial market. Many home owners – victims of predatory lending – are having huge problems making payments on astronomical loans. In some instances, outstanding mortgage loans are higher than the value of the homes; interest-only and variable-rate loans have begun to reset; and the Real Estate Market is going haywire. The United States Government has stepped in with various strategies aimed at resuscitating the Real Estate Industry. Is it helping our economy?

    How long can the Government keep trying to resolve this mess? At some point, this has to stop! Are you prepared to hang in and ride it out, or to walk away from your home/your life’s investment?

    The decision is yours. We must recognize and accept that each of us has a role to play in correcting the serious housing problem we face as a country. To home owners who have fully paid off your mortgages: You may think you are FREE and CLEAR, that you don’t have to worry, but you’re a part of the current housing crisis our nation faces. Your help is needed to stabilize this market. When selling, be reasonable with the asking price. The housing market plays a pivotal role in stabilizing our country.


    For those facing foreclosures, you’ll need to explore your options, analyze your situations, and implement plans of action. What you need is: TIME!


    http://www.easyfreeware.com/files/7art_fluorescent_clock_screensaver.zip/6131
    I want to extend my thanks and appreciation to Ms. Mildred Wilkins, founder and president of Home Ownership Matters, LLC, for providing additional information on how to buy time while you stay in your home, working out a strategy against foreclosure.

    · DO NOT ABANDON YOUR HOME.

    No matter how far back your arrears, play out the entire legal process, such as replying to all summonses and attending all court hearings.  Don’t abandon your home until the entire legal process plays out. Stay in your home until your right to possession ends.  

    Factors determining this are:

    1.   Type of foreclosure in your state (judicial or non-judicial);

    2.   Whether you have a mortgage or deed of trust; and

    3.   State statutes regarding sheriff or trustee sale and possession timeframes.

     

    Do further research to find answers to these 3 factors, and then abide by them. Ensure that your lender abides by them! Remember, you’re buying time and things could change. Start by:

     

    1.   DEMANDING THE LENDER OR SERVICER TO PRODUCE THE ORIGINAL NOTE/DEED OF TRUST.

    2.   SUBMITTING a WRITTEN REQUEST! When you send it, use the “return receipt” option at your local post office.

     

    Many of you may ask, what are my choices? You’ll need to make an inventory of your circumstances and be extremely honest with yourself. Some pertinent questions to ask yourself, and answer:

    · How far behind am I?

    · Do I have resources to resume payments?

    · If not, do I know when I’ll have them?

    · In which direction would I like to head?

    · What am I able to do?

    · Why should a financial institution consider my proposal?

     

    You’ll need to defend your position as reasonable, based on your situation.

    Below are some OPTIONS you may need to consider:

    1. To keep you in your home, you may request from your lender:

    · Special Forbearance.

    · Loan Modification or Partial Claim.

     

    1. To let your home go, you may request from your lender:

    · Short Sale.

    · Assumption or Deed-in-lieu.

    All of these options are better than FORECLOSURE, but thoroughly research them to know how they work in order to avoid problems down the road.

     

    1. You may consider a Reverse Mortgage. (Government Backed)
    2. You may consider a Paying Roommate.
    3. You may receive Disability Payment or await a claim.

     

    HOLD ON! WE ARE TRYING TO SAVE YOUR HOME WHILE BUYING TIME!
    Stock Photography: Canadian Money, Gears, Compass    Stock Photography: Stack of Twenty Dollar Bills

    For further information, read:

    http://bit.ly/1t1m7s

    http://www.HomeOwnershipMatters.blogspot.com

    Good Luck!

     

    Pierre S. King, Associate Broker
    Weichert - H .P. Greenfield
    718 692-4444 Office
    718 253-6853 Fax
    917 407-6697 Cell
    http://www.kandhHomes.com

    http://www.hpgreenfield.com
    WHEN PROPERTIES ARE FOUND CALL ME: http://www.weichert.com
    email:MrRealEstateKing@yahoo.com
    JOIN ME FOR FREE TIPS:
    http://www.twitter.com/crealestateking
    http://www.youtube.com/user/MrRealEstateKing
    http://www.trulia.com/blog/PierreKing/
    http://www.linked.com/in/pierreking
    http://www.activerain.com/1realestateking

  • HOME SELLERS! BEWARE OF TERMITES, THE SILENT DEAL KILLER --

    Posted Under: Home Selling in Brooklyn  |  October 20, 2009 6:07 AM  |  5,014 views  |  No comments

     


    TERMITES!
    They’re Eating Your Investment

    Flying ants are often in fact flying termites

    Home Sellers; Remember the housing market bubble that brought down Wall Street? You, too, took a hit as the value of your property plummeted. So, are you prepared to just sit and watch your life’s investment go totally down the drain, as happened with Wall Street?

    I’m talking here about TERMITES – those critters that take up residence in the woodwork in your home, devouring it, and that can kill the deal when it’s time to sell. Being the smart person that you are, and seeing how much you’ve invested in your property, I know you’ve taken preventive measures! If not, hurry; now is the time to take action! Don’t let Brooklyn’s termites eat up your investment!

    Termites cause an estimated $5 billion a year in property damage in the United States alone, according to the National Pest Management Foundation – visit them at http://www.pestworld.org/ – making these pesky insects an even greater threat to wood-based structures than fire, flood, or wind. Despite their ability to destroy property, home owners know very little about the danger termites pose.

    Termites are not easily noticeable. These insects set an ambush, take up residence for years, going unnoticed, while slowly eating up the structure from inside out. And by the time you spot them, the damage is so extensive that the potential buyer walks away, and your deal is dead. Now you understand why they’re called “the silent DESTROYERS”!

    Where do termites come from? They come in through cracks in your foundation, window vents, roof joints, etc. They attack every type of home, even new construction. What can you do to keep these creepy creatures from eating up your investment? Entomologist Ron Harrison, Technical Director for Orkin, Inc., offers the following advice:

    · Keep moisture out! Use downspouts and gutters to divert water.

    · Store mulch, firewood, and wood chips away from your home.

    · Ensure that shrubs, vines, and other plants are not planted too close to the home and are not covering vents.

    · Have a lot of ventilation to avoid humidity.

    · Eliminate gaps and cracks in such areas as attic vents, windows joints,

    and the eaves of roofs.

    · Remove old tree stumps and roots near the home.

     

    While at it, don’t forget to schedule regular termite inspections with a specialist; see http://www.pestworld.org/. These treatments should be done every 7 to 10 years, says Harrison.

    Real Estate Professionals: Are you doing your work? Are you providing due diligence for Home Sellers and Home Buyers? If not, start today! If the answer is yes, then speak up and let your colleagues know!

    Home Buyers: Ask your representative to inquire from the Sellers whether or not they have a termite protection program, or request a termite inspection by a specialist. Also visit the U.S. Department of Housing and Urban Development’s (HUD) website, http://www.hud.gov, for information on “Termite Infestation” in areas heavily prone to termite damage.

    Thanks!

    Pierre S. King, Associate Broker
    Weichert - H .P. Greenfield
    718 692-4444 Office
    718 253-6853 Fax
    917 407-6697 Cell
    http://www.kandhHomes.com
    http://www.hpgreenfield.com
    WHEN PROPERTIES ARE FOUND CALL ME: http://www.weichert.com
    email:MrRealEstateKing@yahoo.com
    JOIN ME FOR FREE TIPS:
    http://www.twitter.com/crealestateking
    http://www.youtube.com/user/MrRealEstateKing
    http://www.trulia.com/blog/PierreKing/
    http://www.linked.com/in/pierreking
    http://www.activerain.com/1realestateking

    p>
  • WHY SHOULD HOME BUYERS BE TREATED WITH NO DIGNITY?

    Posted Under: Home Buying in Brooklyn  |  September 21, 2009 6:25 AM  |  5,538 views  |  18 comments

    WHY CALL “BUYERS” LOSERS?
     publication1.jpg



    Readers, thank you for the support! From the day I began writing, you’ve been an inspiration. I’ve seen my numbers increased in less than 2 months. Thanks!

    Why should anyone treat with NO DIGNITY a person who puts money into your pocket? Moreover, when the buyer is dissatisfied with you, the agent, you call that person a LOSER. Is that fair?

    Let’s dive into this!   If Sellers didn’t need Buyers, what do you think would happen to their products? Too many on the market, price reduction, banks not making money, a sinking economy, etc.

    When will Real Estate Professionals realize who the boss is? Let’s start here:

    http://WHO THE BOSS IS CLICK HERE

    The next time a buyer comes your way, be careful! Real Estate Professionals think before you talk or react!





    Pierre S. King, Associate Broker
    Weichert - H .P. Greenfield
    718 692-4444 Office
    718 253-6853 Fax
    917 407-6697 Cell
    http://www.kandhHomes.com
    http://www.hpgreenfield.com
    WHEN PROPERTIES ARE FOUND CALL ME: http://www.weichert.com
    email:MrRealEstateKing@yahoo.com
    JOIN ME FOR FREE TIPS:
    http://www.twitter.com/crealestateking
    http://www.youtube.com/user/MrRealEstateKing
    http://www.trulia.com/blog/PierreKing/
    http://www.linked.com/in/pierreking
    http://www.activerain.com/1realestateking

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