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Jim's Blog

By JIM TURANO | Broker in Middle Village, NY
  • JULY 9th,2014 Buyers-Latest Homes & Prices in Middle Village,NY

    Posted Under: Schools in Middle Village, Home Buying in Middle Village, In My Neighborhood in Middle Village  |  July 9, 2014 4:38 AM  |  24 views  |  No comments
    Rising home prices for sale continue, July 9th, 2014
    $685,000 61-39 79 street, Middle village,ny 11379

    $650,000

     |  80-11 Penelope Ave , Middle Village, NY 11379


     
                                            









    As you can see prices are still climbing since December 2013.
    Mortgage rates are still low.
    If you get the opportunity to buy now before the fall, you will be better off. 
    1st.time buyers special "Open House' this friday,July 11th.
    time 5p.m. - 7p.m. address:61-37 79 street off Eliot Ave.
    Town House One full bath+2 Half baths
    Two bed. Home with Huge rear Deck
    Base.+Garage near Park!
    Wal to all stores/Express buses to Manhattan.
    You will not see this price much longer. $560k


  • Ideas for 1031 exchange customers....LOCATION,LOCATION,LOCATION

    Posted Under: General Area in Middle Village, Home Buying in Middle Village, Investment Properties in Middle Village  |  July 7, 2014 5:04 AM  |  41 views  |  No comments
    When selling your investment property, it is time to step up the ladder of Real Estate.
    Broaden your areas, and consider areas that are standouts for decades.
    With 35 years of experience, I can only suggest to buyers the wealth of information I have attained over the years.
    Comfortable investing where you live or close by is okay. In Queens, other areas are so close by, it still would take less than 15 minutes to get to the 'Top Locations' that go up in Value moreso than other areas.
    For example....You live in Middle Village, but have never gone on the other side of Woodhaven Blvd., to the Cresent areas. It is Long Island living but here in Queens. A prestigeous area of Rego Park, that will have you simply amazed of the uniformed Detached homes that stand out. Huge Brick Homes that have 80 ft. Driveways, with all having an average 40'x100' lot. 
    Rentals in this area....5 rooms rent an average of $2,000.00 per month.
    A quality of Life, with a different type of mentality, and privacy with a capital P.

    If you sell a investment property, whether in Glendale, Middle Village, etc., always keep an open mind to an area that has gone up in value far greater than Middle Village over the years. And you always collect top dollar rents from tenants that you may not be accustomed to. 
    Buying an investment property like a 2 or 3 family, should be in a top location.
    If you can choose a totally Detached Home, with fireplaces, long Driveways, Detached two car garages, and have more privacy than a home on top of Juniper Park, attached, with neighbors within inches of your home, it should be a no brainer.

    All I ask is to have an open mind when considering a new investment property when doing a 1031 exchange.
    Step up to a new level in Real Estate.

  • Buyers! The Process of buying a Home....Time wise (Middle Village,NY)

    Posted Under: Parks & Recreation in Middle Village, Home Buying in Middle Village, In My Neighborhood in Middle Village  |  July 4, 2014 3:17 AM  |  86 views  |  No comments
    Finding the right Home for you and your family is important.
    Affordability besides Location is Key.
    Being Realistic Is essential.
    Three bedroom homes are over $600,000 dollars in Middle Village,NY.
    Average Two Bedrooms is around $560,000 to $599,000 dollars.

    Ok, you place a bid and it is accepted.
    Information is exchanged regarding sellers and buyers atorney's.
    One week later a contract will be drawn up and sent to buyers attorney for review.
    Next buyers attorney schedules an appointment for the buyers to come in the office,
    with 10% of Purchase Price to be held in escrow. Buyers sign the contract and their attorney sends it back to sellers attorney.
    Sellers attorney reviews the signed contract and schedules a time for sellers to come in and sign the contract.
    Once a contract is fully executed, a copy is sent back to buyers attorney.
    Time frame from accepted offer to fully signed contract by both parties about 3 weeks.

    Buyer then gives a copy of the contract to Bank rep. and an appraisal is scheduled.
    Two weeks later, a commitment is issued to the buyers. (Mortgage rate can be locked in) 
    Buyers attorney and sellers attorney are given a copy.
    Now buyers attorney orders Title on the property that buyer is purchasing.
    This is to make sure there are no Liens on the Home, etc..
    This takes about 10-15 days.

    Final stage- Everything in order then it goes to banks closing department, otherwise known as underwriter to check every bit of info needed to then set up a closing date.
    Attorney from bank contacts buyers attorney and buyers attorney calls sellers attorney to schedule a closing. 7 days normally.

    Total time frame usually from beginning to end, is three(3) months from date of accepted offer. In some cases, the time frame is 60 days after accepted offer or 10 weeks total time.

    (Sellers time frame the same as above)

    So if you buy now, lock in low rates, you will probably close in October 2014.
    Buy in August and go to contract then you will close in November 2014.

    July & August are big buying months. Many buyers and sellers do not want to close on a home during December-Christmas time.

    Informative information for all Buyers.
    Completing my 36 year in Real Estate in September 2014.
    Jim Turano/Broker*Diverse Real Estate*
    1-347-837-9206
  • BUYERS! DO'S AND DON'TS.... A MUST READ! July 2, 2014

    Posted Under: General Area in Middle Village, Market Conditions in Middle Village, Home Buying in Middle Village  |  July 2, 2014 3:46 AM  |  94 views  |  1 comment
    Whether you are looking in Rego Park, Forest Hills, Middle Village,etc., etc.
    THE DO'S
    Serious buyers should be pre-qualified before looking at homes.
    Buyers should know that Homes are selling about 2,3, 4% below asking price.
    If you bid on a home, and bid 10%-20% below asking price, indirectly you are shooting yourself in the foot. Or you insult the owners, and the sales agent will not be calling much more after that.
    Viewing the Home....Yes by all means check out the closet spaces, ask any questions you may have, and if interested have the salesperson provide you a list of sold homes, for the same area, similar to the home you are looking at.
    Lastly......Be aware, that there are many buyers out there looking for the same home as you are. 
    Average open house....brings about 12-18 buyers, and in some cases, 20 or more.
    Average time it takes before it sells after being listed on the market................
    2 days-7 days, or the most about a month.

    THE DON'TS
    WHETHER YOU LOOK AT $500,000 DOLLAR HOMES FOR SALE OR UP TO $2MILLION DOLLARS.......
    Do not ring Owners Bell.....This annoys them in general, and then a call is placed to the Broker.
    Do not look up their telephone number, and call them personally. This also annoys them to death, and they place a call to the Broker.
    (When Homeowners' sign exclusive contracts to sell, they are responsible for the Real Estate Commission) 
    So understand that this behavior jeopardizes your chances to possibly purchase the Home.
    Jim Turano/Broker
    I wouldn't be writting this if it didn't occur, but it does.
    PLEASE BE COURTEOUS AND CONTACT THE LISTING BROKER !
  • IN GENERAL HOME PRICES ARE RISING ALL OVER, ESPECIALLY 'MIDDLE VILLAGE',NY

    MIDDLE VILLAGE AREA...........
    *NO ALTERNATE PARKING
    *2 TOP RATED PUBLIC SCHOOLS
    *TOP RATED NURSERY SCHOOLS
    *10 BLOCK LONG PARK, WITH TENNIS COURTS, BASEBALL FIELDS, SEVERAL PLAYGROUNDS, 2 WATER SPRINKLE CHILDRENS PLAY AREA.
    *EXPRESS BUSES TO MANHATTAN
    *20 MINUTES BY CAR TO NEW YORK AND NEAR 5 MAJOR HIGHWAYS
    *LOW TAXES
    *NO FLOOD INSURANCE
    *PLENTY OF VARIETY OF NEIGHBORHOOD STORES, THREE SUPERMARKETS, AND 7 BANKS TO CHOOSE FROM. And in walking distance to.

    *Two Specific additional reasons for the tremendous increase in Home Prices.
    1) Tenants being driven out of WILLIAMSBURG & GREENPOINT-HIGH RENTS
    2) Hurricane Sandy took a big toll out of Homeowners in parts of Queens & Long Island.
    Devastation of flooding, waiting on insurance payments, remodelling all over again, and every time a  Heavy rain comes again, many experience flooding all over again.
    Howard Beach was devasted. No electric for a week, looting, and inhabital homes for a half dozen to a dozen months. Then last month a heavy rain storm backed up the sewars again in Howard Beach. Between Taxes & Flood Insurance it is now a heavy Burden for many.

    MIDDLE VILLAGE HAS ALOT TO OFFER AND WE ARE NOT IN A FLOOD ZONE AREA.
    DECEMBER 2013 TO JUNE 30th 2014 Homes listed during this time frame were sold in 2 days, 72 hours, 1 week, 2weeks and the longest time has been 1 month.

    Last year when homes were listed the typical buyers always say when they see the home,
    its a bit high in price, or isn't that alot of money, or the one statement I have heard since 1979 by buyers as the most said statement has been, 'TO MUCH MONEY'. Look where prices are today.

    People since 1975-1985 moved out of Greenpoint & Williamsburg to Middle Village.
    Today homes in those areas are $1.5 million and up.
    Those that have bought homes these past 12 months in Middle Village, certainly are glad now that they bought back then.
    Those looking today, have to compete with an enormous amount of competition.
    While the usual buyer says I will think about it, others are buying.
    At the current rate of increases on Homes today, the homes you see today, at the now asking prices, will have become history by the comming Fall.
    In the fall Homes will be higher than the are today and that is a fact from a 35 year experienced Real Estate Broker.

    What is still in favor for all buyers currently is the Low Mortgage Rates as of June 30, 2014.
    Certain Buyers who were qualified for a Home last January 2014 and still haven't bought, may not be qualified today since prices are rising.
    Ahead of the Curve....Many should think twice right now before Summer begins, and try to buy now. If not by the end of September 2014 they may not be qualified any longer.

    DON'T DREAM ABOUT BUYING A HOME, RATHER TURN YOUR DREAM INTO A REALITY.
     JIM TURANO/BROKER*DIVERSE REAL ESTATE
    AUTHOR OF THOUSANDS OF REAL ESTATE ARTICLES ALL OVER THE INTERNET.
    ANY QUESTIONS FEEL FREE TO CALL ANYTIME.
    1-347-837-9206  *The time to buy is Today*
    $5,000 more or less for a home on an owners counter offer is worth going up.
    Those that didn't these past 6 months are paying $20-30,000 more 6months later instead.
  • Trulia is a great site when looking for a home for sale!

    Posted Under: General Area in Middle Village, Home Buying in Middle Village, In My Neighborhood in Middle Village  |  June 24, 2014 4:24 AM  |  149 views  |  No comments
    61-37 79 STREET, A 1 FAMILY TOWNHOUSE TWO BEDROOM, SINCE SATURDAY, HAS BEEN SHOWN 10 TIMES. IT NOW HAS AS OF YESTERDAY, TWO OFFERS ON IT.

    BUYERS SHOULD ALWAYS LOOK AT TRULIA FOR HOMES FOR SALE.
    OTHER SITES ARE NOT CURRENT, OUTDATED WITH THEIR ESTIMATES AND CAN SEND YOU THE WRONG MESSAGE WHEN BIDDING ON A HOME.
    THIS IS MY OPINION, BUT I HAVE TRIED TO CORRECT THIS PROBLEM FOR OVER A YEAR NOW ON 'ZILLOW'.
    A building for sale at $2 million, and the zillow zestimate is $589?
    I have written and wrote to Zillow and authored many articles since I personally have completed over 4,000 written appraisals.
    If buyers go by the Zillow Zestimate and bid what they suggest, they will never ever buy a home.

    Prices are going higher each month.
    By fall the same homes for sale today will be $20k-$50k higher in price.
    There is a buying frenzy going on and it is all do to the influx from Greenpoint, Williamsburg and other areas wanting to be in Middle Village,NY.
  • Important message for Buyers-Many thousands will be missing the boat soon!

    Posted Under: Schools in Middle Village, Home Buying in Middle Village, In My Neighborhood in Middle Village  |  June 23, 2014 3:42 AM  |  161 views  |  1 comment
    Important notice from 35 year Real Estate Broker. I have seen many market trends and conditions these past 35 years in the Real Estate Business. Buyers since December 2013 till today have been witnessing House listings coming in and house listings being sold.
    Some within days, a week, or a month. Many have purchased during this time, but many are still looking as they watch the prices of homes rise to new levels.
    Three bedroom 20 footer last December with an asking price of $605k, sold within 48 hours with three offers immediately.
    The same home today is asking around $675k.
    The same goes for two bedroom homes.
    My message to the buyers that are still looking is of great importance.
    At the alarming rate of increases do to demand, by this fall you may be out qualified, and missing the boat altogether.

    SERIOUS ACTION IS REQUIRED BY YOU NOW! 
    DON'T MISS THE BOAT
    ! JUNE 23, 2014

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