I've been helping First Time Buyers for 23 years as a mortgage professional and I will tell you what I have always told my clients here in New York: If you are a First Time Buyer, steer clear of foreclosures and short sales.
Foreclosures are someone else's headache. The home probably has not been well-maintained and you're a First Time Buyer adjusting to paying a mortgage. Do you really want to walk in the door to someone else's deferred maintenance that YOU will have to pay for? Also, if you're thinking there are deals to be had in terms of lower prices, mostly those "deals" go to professional investors who can pay cash, negotiate hard with a Lender, and close fast.
For Short Sales, my attitude of late is that First Time Buyers should steer clear. Short Sales tend to be a better deal for the homeowner than for the Buyer. You'll wait MONTHS for the homeowner's Lender to approve the short sale; maybe as long as Six or Seven Months. Meanwhile, you're stuck in a contract to buy that home. I closed a short sale recently with a Buyer who, after seven months said this at the closing table, "I don't even want this house anymore."
And he didn't even get the "deal" on price he thought he was getting! The house appraised for only slightly more than he paid for it at the short sale price. He walked into this deal thinking he was buying a home for $100,000 less than it's value. In the end that wasn't the case.
There are plenty of motivated Sellers with their homes listed on your local MLS. Go find a good Local Mortgage Banker, get prequalified, then find a great, experienced Realtor, and buy the home you want at the price you're willing to pay.
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker â€“ NYS Dept. of Financial Services
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Signature Premier Properties
Buying a short sale sometimes require more time then if you were purchasing a home that is not a short sale. It is a process that requires more involvement from the seller and at times there is more than one bank involved. So it can get quite complicated. Please feel free to contact me with any questions you may have.
Signature Premier Properties
The inventories are getting smaller. This is a very popular school district in Long Island. Please define what you mean by decent? HHH is includes the following towns: Dix Hills, Melville, part of Deer Park, part of Wyandanch, Wheatley Heights, small part of Farmingdale, small part of East Northport,
We have a district map in our office to help you determine the exact elementary schools, middle schools, and high schools the homes are in.
If you let me know specifically the type of home you desire I can help you locate homes for sale. There are condos, townhouses, single family homes in the areas I described above. Prices range from $300k to over $2 million.
SHORT SALE - If you must purchase a home before the school year I do NOT recommend buying a short sale. It is a very long process that I would be happy to exaplin to you on the phone.
Call my cell 516-526-8557. Good luck with your search.
Please let me know if need a lender for your loan?
Here at Kiencta Federal Credit Union, we can get you approve for a loan with great benefits;
$500 for closing cost
.625bps on rate (for better rate or use it for closing)
VIP Membership for one year with all benefits!! (banking benefits)
Close loans in 30 days or less.
For pre-approval go to;
The best to start is
Your One Source Connection to buy
Please give me a call if you have any questions
How soon are you looking to buyr
Will Roan Lrsp, Realtor
Charles Rutenberg Realty Inc.
631 805 9045
Good luck on your search.
Andra Matera - 917-750-9855
CBR Licensed NYS RE Salesperson
Charles Rutenberg Realty
Certified Buyer Representative
Senior Real Estate Specialist
Century 21 Princeton Properties
I am a Realtor working in this area I would be happy to assist you with your search for property in this price range and area. I have a property in mind it is not the best condition but if you are willing to do some work it may be just what you are looking for. I believe that short sales are going to start to slow down as the economy starts to get moving and banks may stop accepting this type of bail out. Dont let this deter you though if you find something available with a short sale, all banks are different and may continue to accept offers.You should contact me and I will e-mail you property to review and be more than happy to get you in to view properties.
We are familiar with the properties for sale in the Half Hollow Hills School District #5 and all the surrounding areas!
Contact me and I can set up a local real estate agent on Monday with great credentials through our nationwide referral system. The system is free to you, and I can let the new agent know all of your requirements. -john