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Jim's Blog

By JIM TURANO | Broker in Middle Village, NY
  • Meeting Actor Vinny Vella in Little Italy feast was a pleasure!

    Posted Under: Using Trulia in Middle Village  |  September 14, 2014 4:02 AM  |  29 views  |  No comments
    STEPPING OFF THE MERY GO ROUND OF LIFE, THIS PAST FRIDAY, SEPTEMBER 12TH,
    I WENT TO LITTLE ITALY TO ENJOY THE FEAST. MUCH TO MY SURPRISE, I HAD THE PLEASURE OF MEETING ACTOR VINNY VELLA.
    VINNY WAS IN THE SOPRANOS, CASINO, & FUNNY YOU TUBE VIDEO'S.
    A REGULAR GOODFELLA.
    copy & paste
    https://www.blogger.com/blogger.g?blogID=1710665490625603490#editor/target=post;postID=3167108749961860288;onPublishedMenu=allposts;onClosedMenu=allposts;postNum=0;src=postname
  • Investment Properties-5.5 to 6% cap+with rent increases+appreciation gives you the right money machine.

    Posted Under: General Area, In My Neighborhood, Investment Properties  |  September 12, 2014 3:22 AM  |  28 views  |  No comments
    One of the best scenario's to have with a mixed use is the following.

    There is and will be a shortage of apartments for years. And if a building has 2 studio apartments,+Two- 1 bedroom apartments, then that is a big plus.
    Why? One person for a studio. And either 1 person for 3 rms. or middle age couple for the other apartment.
    Less people, less water usage, no bicycles, strollers,etc..
    In addition, usually the easiest apartments to rent. Lower than most apartments, never vacant.
    EXAMPLE: TWO CORNER BUILDINGS ON ONE PARCEL FOR SALE.
    4 APARTMENTS+1 OFFICE+TWO STORES
    INCOME YEARLY $118K......
    NO LEASES ON APARTMENTS, THEREFORE AN IMMEDIATE $100 DOLLARS INCREASE ON ALL 4 APARTMENTS IS IN ORDER. THAT INCREASES YOU RENT ROLL MONTHLY TO $400 DOLLARS MORE OR $4,800 DOLLARS MORE YEARLY WHICH PAYS YOUR HEATING BILL.
    NEXT YOU COLLECT FROM THE OFFICE $750 EACH MONTH.
    PLUS YOU COLLECT RENT FROM THE TWO STORES.
    SO YOUR YEARLY INCOME OF $118,000 IS INCREASED WITH $100 DOLLAR INCREASES ON THE APARTMENTS TO $122,800 YEARLY.
    TAXES+EXPENSES OF $26,000 YEARLY LEAVES YOU A NET OF $96,800 DOLLARS.

    THE CAP RATE WITH A ASKING PRICE OF $1.7 MILLION, IF PURCHASED AT A POSSIBILITY OF $1.6 MILLION, GIVES YOU A 6% CAP RATE.
    TRY TO GET THAT IN A BANK.
    CAP RATE + APPRECIATION, PLUS CONTINUED INCREASES IN RENTS THAT ARE FAIR,
    IS THE PERFECT INVESTMENT PROPERTY.
    AREA IS OF IMPORTANCE TO.
    ...............THE BUILDINGS I AM USING FOR EXAMPLE PURPOSES ARE ON METROPOLITAN AVENUE, IN MIDDLE VILLAGE,NY 11379
    PERFECT FOR A 1031 EXCHANGE DEAL.

    I HAVE 36 YEARS OF EXPERIENCE, AND I HAVE MANAGED MANY BUILDINGS LIKE THIS ONE FOR YEARS. GOOD TENANTS, EVERYONE PAYS THEIR RENTS, NEVER ANY PROBLEMS.
    INVESTMENT PROPERTIES-CALL JIM TURANO/BROKER 1-347-837-9206
    DIVERSE REAL ESTATE               

    SEPTEMBER 12, 2014*
  • Apartment season has begun. Register today! call...ADELE

    Posted Under: In My Neighborhood in Middle Village, For Rent in Middle Village, Rentals in Middle Village  |  September 3, 2014 3:57 AM  |  70 views  |  No comments
    REGISTER TODAY! CALL 'ADELE' 1-718-496-8673
    DIVERSE REAL ESTATE CELEBRATING ITS 36 YEAR!

    SINGLES/ COUPLES/ & FAMILIES....MIDDLE VILLAGE,NY.

    AVAILABLE SEPTEMBER 15TH........
    NO PETS PLEASE ON THE FOLLOWING APARTMENTS....
    3RMS. SMALL BEDROOM, NEW REFRIGERATOR, & APARTMENT TO BE PAINTED. IDEAL FOR SINGLE BUSINESS PERSON. LOCATION:78 ST. OFF METROPOLITAN AVENUE, NEAR EVERYTHING.               $1200 RENT
    //////////
    HUGE WALK IN APARTMENT/ IDEAL FOR COUPLE-NEWLYWEDS. 74 STREET-OFF ELIOT AVENUE.                        RENT $1400
    ////////////////////
    OCTOBER 1ST. 1ST. FLOOR-5 ROOMS, 2BEDS., FRONT TERRACE, DRIVEWAY, GARAGE, BASEMENT INCLUDED, AND USE OF YARD. 78 ST./PENELOPE AVENUE.
    WALK TO P.S. 49 AND PARK! RENT $2500
    ////////
    PLEASE BE PREPARED BEFORE MAKING APPOINTMENTS*
    WHERE YOU WORK, AND GET YOUR 'FREE' CREDIT SCORE FROM CREDIT KARMA.COM
    YOU NEED 3X'S THE RENT(SECURITY, RENT AND REAL ESTATE FEE)

  • When decorating a Home, keep in mind first and foremost to start with very light colors..

    Posted Under: Remodel & Renovate in Middle Village, Design & Decor in Middle Village  |  September 2, 2014 3:39 AM  |  58 views  |  No comments
    There are so many articles regarding what colors to use within the interior.
    With 36 years in the business, I can tell you what is best in my opinion.
    Neutral basic White or off white interrior walls and ceilings.
    I recently commented on an article that WHITE IS BORING? HOUZZ HOME DECORATING.
    The feature story in HOUZZ regarding White is boring....... 
    I have been in Real Estate for 36 years to date and multi color rooms, dark colors are revealing symptoms of state of minds. 
    White or off white are the best of any colors to begin embellishing your home with. A state of mind and well being. People who are bored or chronically bored with the colors or interior is signs of other issues. 

    Boredom has been defined by Cynthia D. Fisher in terms of its main central psychological processes: “an unpleasant, transient affective state in which the individual feels a pervasive lack of interest and difficulty concentrating on the current activity.”[3] Mark Leary et al. describe boredom as “an affective experience associated with cognitive attentional processes.”[4] In positive psychology, boredom is described as a response to a moderate challenge for which the subject has more than enough skill.[5] 

    There are three types of boredom, all of which involve problems of engagement of attention. These include times when we are prevented from engaging in wanted activity, when we are forced to engage in unwanted activity, or when we are simply unable for no apparent reason to maintain engagement in any activity or spectacle.[6] Boredom proneness is a tendency to experience boredom of all types. This is typically assessed by the Boredom Proneness Scale.[7] Recent research has found that boredom proneness is clearly and consistently associated with failures of attention.[8] Boredom and its proneness are both theoretically and empirically linked to depression and similar symptoms.[9][10][11] Nonetheless, boredom proneness has been found to be as strongly correlated with attentional lapses as with depression.[9] Although boredom is often viewed as a trivial and mild irritant, proneness to boredom has been linked to a very diverse range of possible psychological, physical, educational, and social problems. 
    source: http://en.wikipedia.org/wiki/Boredom
  • Who is at fault the Owner or Listing Broker for setting an incorrect asking Price?

    Posted Under: Home Buying in Middle Village, Home Selling in Middle Village, In My Neighborhood in Middle Village  |  August 29, 2014 4:15 AM  |  59 views  |  No comments
    Your family lived in a home in Middle Village for many years. Now the children want to sell.
    In this case, a contractor was hired to fix up the place, to make the home more appealing to buyers.
    So the floors were redone. New Pergo wood floors were installed, the house was painted and new appliances were bought for the Kitchen.
    Three bedrooms, a basement, +rear terrace off the Kitchen over the garage, attached, by Eliot Avenue. Asking Price $685k..........

    With 36 years of experience, and over 4,000 written appraisals to date, the owner had to come up with this asking price. It couldn't have been the listing agent, or Broker, based on the available comps in the area. It is an injustice to the seller if an agent/Broker does not use the tools that are available to him or her. Appeasing an owner with that price, just to hang a sign on the property, is unprofessional. False hopes to the seller and a complete waste of time for the agent, or Broker.

    A closer inspection of this house will reveal that the floors placed down on the living room floor was done badly.  All around the floors by the walls have a 2 inch gap as if it is incompleted. Quality appliances would have made a difference, and after several months already there has been no crowds, no open houses, and there it sits.

    Both the Seller and Agent/Broker are at fault, for overpricing a home, with poor workmanship, and an inexperienced agent/Broker for not speaking up regarding that asking price.
    A Bank appraiser would never ever using the latest comps(home recently sold) appraise this home anywhere near $685,000.00 dollars.
    For those looking, go to 79 street off Eliot Avenue. You will see an out of the area Realtors sign, call it, confirm this price, but go inside and see what I am speaking about.

    If anything, you will educate yourself and when coming across any other home, at a lot less asking price, and in better condition. You will be happy to place a bid on that house.

    PRICING A HOME FROM THE BEGINNING CORRECTLY IS KEY TO HAVING IT GET SOLD.
    HANGING SIGNS ALL AROUND TOWN WITH  INCORRECT ASKING PRICES DOES NOT PUT MONEY IN THE SALESPESONS POCKET.

    TO OTHER AGENTS IN OUR AREA, THERE IS BENEFIT TO THESE TYPES OF HOMES PLACED ON THE MARKET. AND THAT IS, YOU CAN SHOW THIS HOME AND SELL YOUR CLIENTS OTHER HOMES EASIER AS A COMPARISON OF VALUE.



     

  • *OPEN HOUSE TODAY* 61-37 79 STREET, MIDDLE VILLAGE,NY

    YESTERDAYS OPEN HOUSE HAD A TOTAL OF 6 NEW CLIENTS AND TWO ARE COMING BACK TODAY AT THE 12NOON TO 2P.M. OPEN HOUSE.
    NEW ROOF PUT ON THIS PAST THURSDAY WITH GUARANTEE TO NEW BUYERS!
    ELECTRIC UPGRADED FROM 60 AMP TO 100 AMP LAST WEEK BY OWNER.
    HOUSE IS POINTED, WITH 3 BATHROOMS AND TREMENDOUS REAR DECK OFF KITCHEN.
    WITH TWO NEW OFFERS OWNER COUNTERED AT $560K FROM $575K ASKING.
    READY TO GO! Walk to Eliot Avenue, all stores, buses, express busses to Manhattan, to    P.S 49 and to Juniper park!
    Great first time buuyers home!
    Triple AAA location!
    1 Family Brick Townhouse-2 beds.
  • The right Purchase Prices at this time.....August 16, 2014

    Posted Under: General Area in Middle Village, Home Buying in Middle Village, In My Neighborhood in Middle Village  |  August 16, 2014 4:56 AM  |  75 views  |  No comments
    Goodmorning! Here is an update and my opinion with 36 years of experience.
    Since I have appraised over 4,000 homes to date and testified in State Supreme Court as an expert witness on appraising, here is current analysis of house prices in the 
    Middle Village areas.

    1) attached two bedroom homes....
    Ranch/Bungalows one level from Handyman specials which I believe should be in the $450k range in the general areas of Middle Village. To modern move in condition ranges of $515k-$525k.
    Attached two bedroom homes-two levels-duplex's like off Eliot Avenue areas.
    Complete gut job homes around the $500k range.
    Homes with original kitchens & baths, but improvements that are important like, new roof, new gutters, leaders, pointing completed, upgrading of electric 60 amp to 100 amp service, should be about $550k.
    More updated with Kitchens& baths around $575k ranges.

    *IMPORTANT FACTOR WITH ANY HOME FIRST AND FOREMOST IS LOCATION..........
    CONVENIENCE TO STORES, PARK, SCHOOLS, BUSES, EXPRESSS BUSES MAKES A WORLD OF DIFFERENCE.

    2)THREE BEDROOM HOMES..........
    ATTACHED TOWNHOMES...Without private yards, off Eliot Avenue areas....
    Needs work but not a disaster interior wise, $585-$600k ranges.
    With private yards off the kitchens, same ranges as above to alittle more modern in the $625k-$650k ranges.
    DETACHED 3 BEDROOM HOMES-FRAME- Clean move in condition $600k-$615K.
    Modern $625-$640k ranges.
    Deatched Brick Homes-Tudors/Fireplaces, large private yards/driveways,etc..
    Ranges $700k-$800k ranges.
    *Next week I will discuss Two family homes.......................
     JIM TURANO/BROKER*DIVERSE REAL ESTATE*
    CELEBRATING MY 36 YEAR IN THE BUSINESS
    1-347-837-9206 
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