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Home Buying in 10312 : Real Estate Advice

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  • Local Info2
  • Home Buying18
  • Home Selling12
  • Market Conditions1

Activity 15
Mon Apr 10, 2017
Kathy Burgreen answered:
This is NOT TRUE for New York City. Unlike the rest of the country, New York real estate appreciates in value - guaranteed. What you don't know:

1. Co-op buildings in NYC have down payment requirements averaging 20%+. Co-op buildings in the nearby suburbs average 10%+ for down payment requirements. Because of these high down payment requirements, co-op Boards do not allow FHA, VA and other loans that have low down payment requirements.

2. Co-op Boards review a buyer's financials before buyers can close and can legally reject buyers based on their financials. This means if the buyer was approved by a lender, they can still be rejected by a co-op Board.

3. Because only qualified financially secure buyers move into a co-op building, the value of the entire building increases in value and appreciates. Condos in NYC do the same. The Board of Directors has first right of refusal and if they feel a buyer will default on the HOA fees, the condo board will refuse the buyer. Just like co-ops, condo buildings do not have to allow FHA or other financing that has low down payment requirements. Co-op and condo buildings only want buyers who can put some of their own money into the home purchase.

4. During the housing crisis / recession when the rest of the country was suffering from foreclosures and short sales, New York City did not suffer much thanks to the verfication of buyers financials and down payment requirements for condos and co-op buildings.

Therefore, buying in NYC is expensive but you don't have to worry about your investment. It will appreciate. There are exceptions to this: Examples: bad neighborhoods that are mostly welfare residents and/or have a high crime rate; the immediate area surrounding JFK & La Guardia; etc.
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0 votes 1 answer Share Flag
Tue Sep 13, 2016
Maricris A answered:
Hello,

It appears that the property you are interested to is in foreclosure status on Trulia. Trulia is a platform for consumers to browse housing information as well as a tool for home owners and agents to list their properties. If a listing is foreclosure or not, it is up to the listing owner to update the status of that property. The status of the listing is unclear to us because it is in the hands of the listing owner.

If you want to know more information about the foreclosure property, you may check the county record where the property is part of or you may also contact a foreclosure specialist near your area for assistance.

You can take advantage of our vast network of agents here on Trulia. You may found the link below.

To search for a foreclosure specialist using our site:

1. Go to the link that I provided, enter the location where you're at and click enter.
2. Click the 'More filters' button and choose 'Foreclosure' under specialties.
3. Click the 'Search' button.

We hope your experience with Trulia is memorable and thank you for using Trulia for all your real estate needs.


Regards,

Maricris
Consumer Care Advocate
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0 votes 1 answer Share Flag
Sat Mar 19, 2016
Jaafarlending44 answered:
Thu Jan 21, 2016
Dan Tabit answered:
The best advice is to take some time to figure out what went wrong and make some changes. You say your credit is shot, why? What can you learn from what created that situation to avoid in the future?
You need some great advice, but this forum can't do more than provide the beginning of that. You need some financial counseling from someone who is trained and successful in helping people in positions like you find yourself. Dave Ramsey comes to mind, but I don't completely agree with all his positions. You can do worse though so see if there are any local classes offered by his group. You can Google them.
Getting out of debt, staying out of debt, using debt as a tool but not a trap is hard, but it can be done.
Before you make any decisions on selling and your next move, learn all you need to to do it right this time. Best of luck.
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0 votes 1 answer Share Flag
Tue Sep 8, 2015
Scott Godzyk answered:
You should meet with a local lawyer who can go over your contract with the inspection co and go over the report, they can then tell you if you have a case.,
0 votes 2 answers Share Flag
Tue Jul 15, 2014
answered:
Here at Continental Home Loans, we close deals in 3 weeks. And we ask for all of our paperwork upfront to avoid the ongoing paper trail. Contact me today for any mortgage needs
1 vote 10 answers Share Flag
Tue Jun 17, 2014
Cristina Dattolo answered:
Hi,
If you would like to setup a meeting please contact me directly to discuss brokerage fees.

Thank you,
Cristina
0 votes 15 answers Share Flag
Tue Jun 17, 2014
Joseph Runfola answered:
A successful finish often depends on the right start. There are many reasons a property may expire without selling. Some of the more common reasons a home fails to sell are: Marketing, Condition, Effort, and/or Price. Perhaps a fresh Realtor with a new perspective, and a higher motivation level can make a difference. ... more
0 votes 19 answers Share Flag
Tue Jun 17, 2014
Cristina Dattolo answered:
Hi,
There really is no appreciation value for your modern kitchen or any types of upgrades that are done to the home. Homes are valued based on size, location and condition what comprable houses in and around the home area are selling for. The concept that these upgrades bring value; would apply only to the person who would like your exact taste or prefrences. Most buyers make personal changes to the home to there likes. Hope this helps you. If you have any questions or would like a free market analysis to see what your home would sell for please contact me direct , I am happy to help. ... more
0 votes 9 answers Share Flag
Wed Nov 6, 2013
Joyce Powers answered:
Many neighborhoods in Staten Island are "hot". It's a matter of personal preference. You should drive around the neighborhoods at different time of the day, walk around and speak to residents, and determine where you would prefer to live. Also if schools are a determining factor, visit the Board of Ed website for rankings and reviews. ... more
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Mon Sep 30, 2013
Johnny James answered:
The best time to see a house is the daytime. The best time to see the neighborhood is Friday night.
0 votes 8 answers Share Flag
Fri Sep 6, 2013
J answered:
The price per square foot of a house will vary with recent and similar sold properties within close proximity to the subject house. I've assisted many buyers and sellers using price per square foot, and in my opinion it is the most accurate in realizing a FMV. I understand this method is often used by savvy investors and the banking industry. Good luck to you! I like the way you think. ... more
1 vote 3 answers Share Flag
Wed Sep 4, 2013
Jill Subes answered:
I agree with Donna , Price it right and it will have many serious buyers coming with agents. Even if you are selling on your own there are many agents willing to show your home in this market if you are willing to pay their commission. ... more
0 votes 11 answers Share Flag
Mon Jul 18, 2011
Ron Thomas answered:
On the PURCHASE AGREEMENT that you signed after your Realtor helped you prepare,

There are conditions under which you are entitled to get your DEPOSIT bank; if your Realtor did that for you,

And there are LIMITATIONS on the DEPOSIT

And your REALTOR may have had you initial the box for ARBITRATION/MEDIATION which would provide a further relief for you.

If you used a Realtor.

Your Realtor should have talked to you about these, and in many cases, he can get your DEPOSIT back, anyway. Another reason for using a Realtor.

But, to answer your question, your Deposit should be the only thing you will lose: Your Realtor would know.

Good luck and may God bless you
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1 vote 5 answers Share Flag
Tue Feb 1, 2011
Albert Benzaken answered:
Hi Lisa,
There are currently 28 available semis in Annadale. 4 acceptances and 5 under contract. Most buyers will consider the entire South Shore when purchasing in that area which just makes for stiffer competition when selling your home. There are currently 117 1 family semis available on the south shore and not enough buyers. Don't fret because home sales have been increasing and are dramatically better that it was about 5 months ago. If priced right (market value) and advertised correctly it will sell....guaranteed. It is extremely important that you be pro-active in making sure your home is not just being advertised in the MLS. An agent can't just place a home in the MLS and wait for it to sell........There are many new ways to advertise and market a home today so you can reach the available buyers and make your home stand out from the rest. ... more
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