Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

10026 : Real Estate Advice

  • All27
  • Local Info0
  • Home Buying13
  • Home Selling2
  • Market Conditions0

Activity 20
Mon Oct 24, 2016
Hoops2pts answered:
Can a HDFC prime tenant charge rent for a room?
0 votes 12 answers Share Flag
Wed Jan 28, 2015
John Reeves answered:
To delete your Trulia profile, you can email Trulia directly at or give them a call at 1-888-466-3501 and one of their Customer Service Professionals will surely help you. ... more
0 votes 1 answer Share Flag
Thu Apr 3, 2014
sgreen2356 answered:
Inquire at:
Housing Preservation and Development.
TIL Program
100 Gold St.
New York, NY 10007

HPD sponsors the: Tenant Interim Leasing" Program which ultimately prepares the building for the
HDFC programs.
... more
0 votes 9 answers Share Flag
Fri Feb 28, 2014
Diana Vasquez answered:
Hello Justin,
welcome back!
I am able to help you with the apartment. I have 2-3 buildings in Harlem that can accommodate you and your dog, but they are in the 130's. Parking is going to be difficult your best bet will be to pay a garage or you can street park. However, that becomes a hassle with street cleaning. If you want more information please feel free to contact me at ... more
0 votes 3 answers Share Flag
Sun Jan 5, 2014
Jared Holman answered:
I also specialize in investment properties in New York plus having a finance degree helps. If you would like to ask me a few questions, please contact me at 646.259.2559 or Happy to help. ... more
0 votes 13 answers Share Flag
Thu Dec 12, 2013
John Peitler answered:
Please contact me for assistance. My name is John and I can be reached at 516-864-6633. Thank you and good luck.
0 votes 14 answers Share Flag
Thu Dec 12, 2013
John Peitler answered:
Please contact me for assistance. My name is John and I can be reached at 516-864-6633. Thank you and good luck.
0 votes 3 answers Share Flag
Tue Jul 9, 2013
Fern Hamberger answered:
Income limits are based on Gross income in an HDFC building.
And it varies with the number of households; the number of people living in the apartment
And their collective income.
Qualifying for a loan is totally different than qualifying in a coop.
Most of the time to qualify for an apt Ina coop building will vary and will depend on the house rules
And every coop is different even an HDFC coop. The limit on a salary can be different.
You can be preapproved for a lot of money from a lender BUT if the COOP states that maximum
Financing is 80 percent of the purchase price than that is all you can borrow.
fern Hamberger
LIC Asso Broker
... more
0 votes 7 answers Share Flag
Mon Jul 1, 2013
Michele Portnof answered:
There are many rules and regulations involved in purchasing an HDFC apartment. The guidelines are strictly observed. If you fall under the income cap for the specific building and this will be your primary residence, then yes, you can purchase. If you are looking at these apartments as an investment, look elsewhere. Usually the rental guidelines are very limited and must be closely observed by the building.
Michele Portnof
Associate Broker
Rutnberg Realty
... more
0 votes 4 answers Share Flag
Mon Jul 1, 2013
Michele Portnof answered:
This doesn't sound like a building that has a good handle on its finances. While many HDFC buildings struggle at the beginning, if the board members are actively involved, this situation can improve. The transfer fee/flip tax from the sale of apartments go into the reserve. The maintenance may need to be increased or an assessment put into effect so this building can build up its reserves. There are many HDFC buildings that have good financials.
I have sold several HDFC co op apartments in the past year.
I have most happy to speak with you directly.
Please contact me with any questions or concerns.
Michele Portnof
Associate Broker
Rutenberg Realty
... more
0 votes 5 answers Share Flag
Sat Jun 29, 2013
Fern Hamberger answered:
Hello Tiloup,
The best way to generate foot traffic is done by MAJOR EXPOSURE, which is done by marketing online and offline.
If your property is:
1- Well priced;
You did your homework and compared your property with all the ones recently sold
and came up with the right sale price.
2- Well presented;
Cleaned, painted, de-cluttered and fixed odds and ends and possibly staged the home.
3- And Well exposed,
Advertised and marketed your property on the internet and offline.
You will be able to generate a lot of foot traffic. As a result, you will be able to sell your property pretty quickly.
You do not have to have a specific time to have an Open house. Buyers will find you. Properties are sold these days without even having the first Open house. That is how fast a property are selling. It all depends on how well the property is priced, marketed, packaged and exposed. BUT if you want to have an Open house, it is usually done on Sundays from 12 to 3pm.

Best of luck
if you have any other questions, please do not hesitate to ask.
Fern Hamberger
Associate Broker
... more
0 votes 5 answers Share Flag
Tue May 21, 2013
Kontina Pippen answered:
HDFC's are one type of low-middle income co-op in NYC. They are the most common. Many have financial issues but if you are willing to think outside the box and work to help a community grow, these can be great homes for working people. You need to make sure you are represented by a broker and a lawyer who are familiar with these properties. Asking the right questions is half the process. ... more
0 votes 2 answers Share Flag
Sun Sep 30, 2012
Joseph Hastings answered:
Hello Javier. I must say your question doesn't speak well of your principal broker or their operation. This is a basic question and while I welcome you to the profession, I am also a bit disturbed that you ask it in this forum. Talk to your broker and other agents in your office or seriously consider getting out of that office. This is a highly competitive business. Don't expect anyone here to do what your own office seems unable to do. I do wish you good luck. ... more
1 vote 7 answers Share Flag
Mon Jun 25, 2012
Adina Greenberg answered:
Do you mean the whole building? It's never just one (or 6) that become HDFC, or coop or condo. It's always the entire building. If you want to find out how long it takes for the building to convert, you call call PHD, or contact your attorney, if you are waiting to close, I assume you are in contract and have an attorney. ... more
1 vote 2 answers Share Flag
Sat Mar 5, 2011
Kingsnyc answered:
Fri Sep 24, 2010
Therese L Korahais answered:
Hi J Raymond, you can either amend last years tax return or wait for 2010 returns...I would talk to your accountant and see which he would recommend depending on your situation. Terry K 718-614-3167 cell or email me ... more
0 votes 4 answers Share Flag
Wed May 26, 2010
MAP1922 answered:
Zillow is not a true indicator of value and is not accepted by banks or courts. Please use an experienced broker to assist you who knows how to access ACRIS information and is a member of the multiple listing services (examples of listing databases: REBNY's RLS database; MANAR's MLS database). Look at the past three months of closed sales not asking prices.
Homes sold through most of the lotteries in Harlem (new construction) were to income restricted participants and governed by HUD and various other government agencies in New York City. If the new condo you are seeking is "market rate", those comps would not be appropriate.
Another suggestion is that you can speak to a bank loan officer for further assistance -- because at the end of the day, the price is really determined by what a bank is willing to finance. Why not try one of the local branches in the area?
Good luck in your search,
Michele Peters, Esq.
... more
0 votes 9 answers Share Flag
Tue Mar 2, 2010
Anna M Brocco answered:
Do keep in mind that when living any building surrounded by neighbors there is a good chance of hearing your neighbors--ask if any additional soundproofing material was used--concern yourself more with outside noise, neighbor noise and noise caused by internal building systems or if allowed consider padding walls with noise insulating materials. ... more
0 votes 6 answers Share Flag
Sat May 2, 2009
Isabel answered:
Brokers are liers. These answers by them clearly prove it. Prices dropped dramatically.
1 vote 4 answers Share Flag
Search Advice