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Home Buying in 10940 : Real Estate Advice

  • All55
  • Local Info6
  • Home Buying25
  • Home Selling8
  • Market Conditions1

Activity 23
Fri Nov 6, 2015
Kathy Burgreen answered:
Have you researched all the costs involved in building a house (cost of buying land, property taxes, building materials, labor, insurance, permits, architect, contractors, etc.). Wouldn't it make more sense to buy an existing home? You can buy one recently built or one built 200 years ago. It will save you thousands of dollars if you hire a contractor & fix or change whatever you don't like. ... more
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Mon Oct 12, 2015
Nora Moore answered:
Some people would be attracted to a property that has better landscaping. I know that certain home buyers might request that a tree be removed before they buy the place. It depends on the situation. ... more
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Sun Jul 12, 2015
Marcia Spencer answered:
No! This was an offer as stated, in NY the SELLER(s) attorney prepare and send the contracts out to purchaser(s) attorney.

For any additional information do contact the undersigned

P: 914.292.4777
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Fri Jun 12, 2015
Info answered:
Sunrise Hills is a New Construction Neighborhood that will eventually consist of 75 Single-Family Homes. We already have almost 30 families living here and we are in the process of building more.

Our website,, shows four main types of homes that we offer, but we have alot of variations to these homes that we can build. We are also working on a few more plans to offer based upon what some of our customers have asked us to get.

If you have any questions, feel free to contact us at (845) 343-6353. We would love to help you in any way that we can.
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Mon Feb 2, 2015
The current lending enviornment, even if you do not show your tax return. The lender always required you to sign 4506T which is a income tax return transcript, it shows the first 2 pages of your tax return. If you do not have negative income or anything that need additional documents on. You can be qualify under asset dissapation, if you have a lot of assets to show lender that potentially can generate enough income to qualify a mortgage. Feel free to contact me at for additional information. ... more
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Mon Feb 2, 2015
Hi Althea: It depends on the loan type and PMI insurance company's rule. Most cases no. Some mortgage insurance company will let you request for paid appraisal to see if the home has over 20% equity before they will drop the PMI. You have to contact either your lender or the mortgage insurance company. If you purchase the home a few years back, chances are the interest rate is a lot lower now. If you still have good credit and good income, another way you can do is to refinace. You can get rid of the PMI and get a lower interest rate and payment. Feel free to contact me at ... more
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Sat Nov 22, 2014
JustLkg asked:
Home was in foreclosure and sale listing was removed 11/15/14. 6 Russell Mews still vacant. Any idea why these homes are not selling?
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Mon Oct 13, 2014
KTE55 answered:
I used to own a property in Canterbury knolls and my MIL still lives there. I would not suggest Middletown if you have school age children...especially twin towers school....the school system for this part of middletown. The insulation in the homes are terrible - our monthly heating bill was well over $300 during the colder months. Twice we've had to calling a plumbing company to u thaw our pipes. Buy at your own risk. My mother in law paid over 15k to have her home re- insulated and have new siding on her home to keep it heated. ... more
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Mon Aug 5, 2013
joscags asked:
I applied for and was approved for a Home Equity Line of Credit. Upon title review before closing, it was found that the down payment assistance loan (DPAL) exists as what the bank/lawyer…
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Tue Dec 18, 2012
Christine Vande Vrede answered:
Marvin, I see a huge value in adding a master bathroom. I believe you simply change your target market from a family who is looking for 4 bedrooms to a family who is looking for 3 bedrooms. ... more
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Tue Jul 17, 2012
Asa Lennon answered:
Never heard any complaints, however, the area is not taxed any differently, there is no flooding because it sits at the top of the hills near Davidge Park.Crime and schools cannot be discussed by a REALTOR. you can find school info here.. ... more
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Sun Jul 8, 2012
John Olivero answered:
Area home values increasing or decreasing depends on the criteria you are using to determine this. Are we looking at month to month, quarter to quarter or year to year sales results? Are we considering the number of transactions without consideration as to whether or not this number is up or down? And so on...

As to values of homes increasing in other areas surrounding Orange County but not in Orange County I will remain skeptical. Quite honestly, with the exception of Manhattan, I don't see that they are.

To address Middletown in particular as a viable investment option now or in the near future I say let’s look at the numbers. In the City of Middletown in the past six months there have been 78 properties either sold or under contract to be sold. (41 under contract, 37 sold). 22 of these properties are under $100,000.

If you look back 3 cycles of 6 months each you will see in sold activity alone 49 units, 43 units and 51 units. That's an average of 46.5 closed transactions in each of the past 4 six month periods. Or 7.7 each month or 1.8 a week.

I think if these transaction numbers would compare to activity in other areas, Middletown would look strong.

So I guess the question would be... What are your thoughts on a real estate investments? Is it to live in yourself or to rent out? What type of return on your investment would be needed for it to be a good investment for you? (Not always about what you pay, but how much you make and how long you hold on to it, etc.)

Depending on your answer will depend on whether or not this is a good time for you to invest in real estate in Middletown. It seems 1.8 other people each week are thinking YES!

Good Luck.
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Sun Apr 1, 2012
Miriam Munzer answered:
Difficult question to answer. Every area has a certain amount of petty theft, larceny, etc..

You can find stats on City of Middletown vs City of Newburgh on any search engine. However, just because a mailing address says "Newburgh" or "Middletown" does not necessarily put that dwelling in the middle of the city. The home could be located on the outskirts of the city., or in a rural location. Check the address, then "google" the home and do your research before you dismiss a home you have seen on-line.
You might be pleasantly surprised.
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Thu Mar 1, 2012
Inquisitive Mind asked:
The lender has a 3% maximum 3rd party closing cost contribution cap. the seller agrees to pay for multiple home improvements that exceed the 3% cap. If the improvements are documented in…
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Mon Feb 20, 2012
Ron Thomas answered:
Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.

Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called “chasing the curve”) and Buyers will be asking the question; “What’s wrong with that house?” and “Why has it been on the Market so long?”

Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; “Aren’t you obligated to sell at this price if someone offers it?” The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)

Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.

Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. It is the surest way to determine the Market Value of the property.
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Fri Oct 15, 2010
Asa Lennon answered:
Hi Quishe..the accepted time of travel by the police and fire departments is about an hour..the reason i say this is that a lot of my clients have been both cops and firemen who are only allowed to go as far north as Orange county so they can be within an hour's response time in the event of an emergency that would require all personel at the scene ... more
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Fri Aug 20, 2010
Asa Lennon answered:
The problem with trying to put off the closing is the buyer's financing has a "rate lock" period..You would need to know when that expires...because ..once it does, the buyers either no longer have financing to buy your house, or..they will have to spend a fee (if their financing has this provision) to extend it..They certainly can ask you to pay that fee..But keep in mind, that if thay are selling a house, they are continuing to pay a mortgatge or if they are tenants they are paying rent...If the reason you need three months is that you can't move in time, or your new place isn't available yet, you can (with the approval of the attornies) do a "rent back" where you close the house on time and rent it from the new owners.. Hope this helps... ... more
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Thu Aug 19, 2010
Asa Lennon answered:
The bottom line is that a buyer's agent is supposed to try to get you the house for the LEAST amount of money..Regardless of what a comparable says, that should be your top dollar amount you're willing to pay for a house.. Also comparables can only determine the appraisal price and that price is no longer a guarantee that a bank will lend that much.. I just had a house that I listed for 200,000 and the acepted offer was 200,000 and it appraised for 200,000..the bank, however, decided they did not want to lend that much because of the declining market..Their thoughts are that the house would be worth less than 200,000 in the next few months.. ... more
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Wed Jul 1, 2009
Voices Member answered:
The main reason I can see is if they (the sellers/listing agent/lawyer) do not think it will appraise high enough to cover the whole offer. This might be the reason,unless the offer is not high enough to cover expenses and they want to back out.

If you worked with an agent (who was working as a buyer's agent), did they do a buyer's cma for you to make sure values were adequate to cover the offer and concession?

Unless you see the whole picture its hard to know the circumstances. Feel free to send me more information if you
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