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11040 : Real Estate Advice

  • All31
  • Local Info5
  • Home Buying19
  • Home Selling1
  • Market Conditions0

Activity 26
Paul, Both Buyer and Seller in 11968
Fri Jun 17, 2016
Paul answered:
Use InBedrock.com to help educate on all real costs of homeownership, including purchase price, improvements, title + HO insurance, RE taxes, mortgage financing options + after-tax implications, utility costs and eventual selling costs of 6% realtor commission + state transfer taxes. InBedrock.com provides in-depth, easy-to-understand analysis on financial decision of Buying v Renting v Investing in stocks. Find out actual # of years until break even on all costs of investing in a house vs renting. Get educated today with InBedrock.com before you make biggest investment of your lifetime. ... more
0 votes 8 answers Share Flag
Va39developm…, Home Buyer in Tracy, CA
Fri Jun 17, 2016
Va39developmentgroup answered:
People want brick - it's very desirable for resell. The only other benefit of brick is you don't have to paint it. Some of the "framed" houses in your price range may have siding that doesn't require painting every few years. ... more
0 votes 9 answers Share Flag
Ben, Home Buyer in New York, NY
Sat May 28, 2016
Ben answered:
I just got a quote from the Trulia calculator that estimated property tax at $338 per month on a 700 K house in Burbank. I just saw a lender who told me it would it would actually be around $729. Trulia is WAY off and it's pretty annoying. So no, not even close. ... more
0 votes 4 answers Share Flag
Malgorzata R…, Real Estate Pro in Rockville Centre, NY
Tue Mar 29, 2016
Malgorzata Ringston answered:
You both should be just fine. You should call all different lenders talk to them and see who can give you best offer. I have someone who can help or at least guide you. When you are ready call me I would love to help.
Good Luck!
... more
0 votes 1 answer Share Flag
Tal61, Home Buyer in Ballston Spa, NY
Wed Jul 1, 2015
Tal61 answered:
Title searches range from $100 for a last owner search to $400 or more for a multiple chain full 40 year search. However, Nassau County, NY is in Zone 2 and the search fee is included in the title INSURANCE premium. If you are getting a mortgage, you need to purchase title insurance as part of the lender's requirements. No separate search fee is allowed if you are purchasing title insurance. ... more
0 votes 5 answers Share Flag
Malgorzata R…, Real Estate Pro in Rockville Centre, NY
Sun Jan 25, 2015
Malgorzata Ringston answered:
Different numbers for gas and oil.
0 votes 1 answer Share Flag
Victor J. Ru…, Home Buyer in New York, NY
Sat Jan 24, 2015
Victor J. Rubino asked:
Yekasi, Other/Just Looking in
Sat Jan 10, 2015
Yekasi asked:
Hello.
I am living in Little Neck, Queens right now, and my house is worth about 1M. I want to move to Long island mainly for better school district, the area that i am looking at is M…
0 votes 0 Answers Share Flag
Christian Mo…, Real Estate Pro in Rockville Centre, NY
Tue May 6, 2014
Christian Monge answered:
It really depends on what type of school it is. It can be noisy, hard to find parking, and always busy. However, when and if you children, they will not be far from the house, also because it is a school zone, it can be viewed as always protected by security. Please contact me if you need any help.

Thank you,
Christian Monge
... more
1 vote 9 answers Share Flag
Cristina Cal…, Real Estate Pro in Woodbury, NY
Wed Jul 17, 2013
Cristina Callegari answered:
Currently there are none offered as a Rent to Own and I agree with Trevor that it is a better deal for the seller than it would ever be for a potential buyer. If you would like to discuss your options on purchasing in New Hyde Park of Nassau County in general I'd be happy to give you an overview of the pricing in the various neighborhoods and show you the different options that are available. Have you thought about speaking to a Mortgage professional to obtain a pre-approval? ... more
1 vote 5 answers Share Flag
Trevor Curran, Real Estate Pro in Great Neck, NY
Tue Jul 16, 2013
Trevor Curran answered:
I’m no real estate agent, just a humble Mortgage Banker, but I can give you some guidance on your search for the right rental apartment.

In my experience in the real estate trade, I’ve discovered that the consumer is best served by adopting some simple strategies, whether you’re buying a home, selling one, or renting an apartment.

First: remember that real estate agents work on commission. The better quality agents---and those with the most experience---will be testing you from the initial contact to determine if you’re serious and will commit to using their services. Why? Because real estate is like any other business. You don’t get to stand in line at the fast food restaurant just to stare at the menu without actually buying some food at one point. It’s the same idea: the experienced real estate professional has to earn a living by renting apartments to serious and qualified prospective renters.

Therefore, the smart consumer should be well-prepared and committed to respecting the real estate professional’s time. That means: know your requirements for the apartment you wish to rent in terms of location, amenities (one bedroom versus three bedrooms; elevator building or private house), and location (proximity to public transportation or need for parking), and price. If you present yourself as well-prepared you’ll have a better chance of working with an experienced agent who will work hard to find you the right apartment.

Second, start with the internet---especially TRULIA.com---but stay “local.” Don’t think at real estate agent in Brooklyn can find you an apartment in Queens, or vice versa. Here on TRULIA.com you can easily find a local professional by clicking on “FIND a PRO” at the top of this page. There you can hone in on a seasoned professional in exactly the area where you wish to rent your apartment. TRULIA provides exceptional tools to help you as a consumer understand the quality of the professional you’re working with. Read the agent’s profile; check out the recommendations from previous clients; get to know the level of experience of the agent and the areas that agent covers.

Third, real estate agents are prevented by Federal regulations from answering certain types of questions. They cannot discuss schools or school districts, crime statistics, and a variety of other issues prohibited by Fair Housing regulations. If your agent is vague when you ask certain types of questions, now you know why.

Finally, demonstrate your level of seriousness to your real estate agent. Show up on time for your appointments to view apartments. If you’re required to submit documents for the Landlord to review with your rental application, get them into your agent’s hands pronto. Not only does this help you potentially get one step ahead of a competing renter, but you’ll be viewed by the Landlord as a responsible renter. Landlords prefer responsible renters, don’t they?

I hope that helps you improve the results of your search for an apartment, and helps you with a better quality experience.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
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0 votes 4 answers Share Flag
Thomas Brady, Real Estate Pro in Plainview, NY
Mon Apr 8, 2013
Thomas Brady answered:
Hi Farheen, potential foreclosures are difficult to track. With the economy the way it is many people miss a mortgage paymeny here or there. The properties you are referring to would have a Lis Pendens attached to them which usually means that the lender has started the default process. However, the majority will never be foreclosed due to various circumstances. If you are still interested in Lis Pendens homes a good place to start is PropertyShark.com, it's a subscrition service but it will give you the information you seek. If you google it you'll come up with other services also.
Thank you
Tom Brady SFR, e-PRO, SRES, GREEN, BPOR
Licensed Real Estate Salesperson
Notary Public, Retired N.Y.P.D. Lt.
631-682-8660
Tom@BradyFamilyRealty.com
www.BradyFamilyRealty.com
www.SuffolkFreeCMA.com
www.NassauFreeCMA.com
#1 Listing & Selling Office on Long Island
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 104
Plainview, New York 11803
... more
0 votes 2 answers Share Flag
Paul Marzolla, Real Estate Pro in Fort Lee, NJ
Sat Mar 2, 2013
Paul Marzolla answered:
I work with many bank and lenders, both big and small. I will tell you that the minimum credit score needed is a 620. This would allow for both FHA and Conventional financing. Without knowing the specifics of your scenario it can be difficult to properly advise you. Please contact me at your earliest convenience so we may further discuss your goals and determine all of your options. I look forward to speaking with you.


Kindest regards,


Paul Marzolla
Loan Officer
(201) 957-6768
pmarzolla@unvmortgage.com
... more
0 votes 7 answers Share Flag
Sarbjeet Kaur…, Real Estate Pro in Garden City Park, NY
Sat Mar 2, 2013
Sarbjeet Kaur (SFR/SRS/CBR) answered:
Depending on the bank, the issue may be that they do not have enough people to process the amount of inventory they now have on their hands, and that it can easily take several weeks to get any kind of response depending on the amount of offers on the property. ... more
0 votes 4 answers Share Flag
Reema Sharma, Real Estate Pro in Glen Oaks, NY
Mon Mar 26, 2012
Reema Sharma answered:
Definately worth to get a second opinion from another attorney. Kindly email me at reema@shvrealtyny.com for the list of recommended attorneys.
0 votes 5 answers Share Flag
Don Tepper, Real Estate Pro in Burke, VA
Wed Aug 24, 2011
Don Tepper answered:
Hi:

We'll trade blogs: Mine is on how to find a lease-option: http://bit.ly/findaleaseoption

By the way, you probably shouldn't have to pay that much above the going fair market rent in order to do a lease-option (based on what you wrote in your blog).

Hope that helps.
... more
0 votes 1 answer Share Flag
Annette Levi…, Other/Just Looking in New York, NY
Thu Jul 7, 2011
Annette Levinson answered:
As Allen pointed out the basement is not in the legal square feet. You say the 2nd floor is not listed in the Nassau County records. The second floor is more then 140 square feet.
When your attorney receives the contract for you to sign, they should also ask to see the Certificate of Occupancy. This will tell you how many floors the house has. If the seller has finished the second floor (or a previous owner did), the CofO will be dated after the completion of the house. You should not sign a contract until this is resolved. The mortgage lender is going to want the title company to insure the title of the house, but they will only do so if everything is legal. ... more
0 votes 3 answers Share Flag
,  in
Thu Oct 14, 2010
answered:
Jabezfu, did you end up doing this conversion? I would be interested in pictures/ideas/plans to accomplish the conversion (I am in the exact same situation).
0 votes 5 answers Share Flag
Ralph Windsc…, Real Estate Pro in Hauppauge, NY
Sun Aug 1, 2010
Ralph Windschuh answered:
Location is always a concern when purchasing real estate and you're thinking about resale value. Basements also increase the value of a property. However, if you're purchasing the home at the correct price, in a few years you should also be able to price it properly so it will sell.

Ralph Windschuh
Associate Broker
Certified Buyer Representative
Senior Real Estate Specialist
Century 21 Princeton Properties
631-467-0009
rwindschuh@c21princetonproperties.com
Top 2% of Century 21 Agents Nationwide
... more
0 votes 4 answers Share Flag
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