Trulia Community - Advice from neighbors and local experts

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

Home Buying in 11040 : Real Estate Advice

  • All33
  • Local Info6
  • Home Buying20
  • Home Selling1
  • Market Conditions0

Activity 19
Mon Apr 10, 2017
Kathy Burgreen answered:
Your agent or somebody should have explained to you about the New York State STAR program. New York State allows homeowners to receive a portion of the school tax paid in the form of a rebate / refund. Even though the current owner's veteran tax exemption won't apply to you, you should be eligible for the STAR rebate.

If you cannot afford the property tax after STAR, you can use the financing contingency in your contract to back out and walk away. Hopefully you do have a financing contingency. To use this, you will need a letter from your lender stating that you do not qualify and financing is withdrawn.

My question is are you working with a realtor? I'm surprised your agent failed to question the property tax amount. Agents are well aware of what typical property tax amounts should be and if they are lower, it most likely includes exemptions that only apply to the homeowner - not the buyer. New York State has exemptions for military, senior citizens and disabled. Unless you are in this category, the buyer will see the property taxes increase to full amount. Tell your agent, he/she did not do their job.

If you can't afford this house and need to walk away, start fresh with a new strategy. You will need to search for lower priced houses so you can factor in the property tax amount. Unfortunately in the NYC suburbs, buyers need to sacrifice and unless you have a billion dollar bank account, focus on buying a home that meets most of your needs - not all of them. As a former realtor, I've seen buyers who had to sacrifice a house and buy a condo or a co-op instead.
... more
0 votes 1 answer Share Flag
Fri Jun 17, 2016
Paul answered:
Use 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. 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 before you make biggest investment of your lifetime. ... more
0 votes 8 answers Share Flag
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
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
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
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
Sun Jan 25, 2015
Malgorzata Ringston answered:
Different numbers for gas and oil.
0 votes 1 answer Share Flag
Sat Jan 24, 2015
Victor J. Rubino asked:
Sat Jan 10, 2015
Yekasi asked:
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
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
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, 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
Licensed Real Estate Salesperson
Notary Public, Retired N.Y.P.D. Lt.
#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
Sat Mar 2, 2013
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
... more
0 votes 7 answers Share Flag
Wed Aug 24, 2011
Don Tepper answered:

We'll trade blogs: Mine is on how to find a lease-option:

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
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
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
Top 2% of Century 21 Agents Nationwide
... more
0 votes 4 answers Share Flag
Mon May 17, 2010
Arlynn B. Palmer answered:
Very often when purchasing a foreclosure (bank owned home) the home is in such disrepair that it will be impossible to obtain a "normal" mortgage from a bank. For instance, if there are no kitchen appliances, the heating system is not functioning, walls have been removed, etc. the bank will not issue a mortgage. Under these circumstances a purchaser would have to make the purchase with either all cash or a 203k loan - this loan approves the repairs that are necessary and provides enough money to make the necessary repairs that the bank will approve.

This is a basic idea - a loan officer or mortgage broker will be able to better explain the process to you.

Should you have any additional questions/comments or want to speak with a knowledgeable mortgage agent, please contact me.

In the meantime, please visit for FREE Buyer and Seller Reports, FREE School and Neighborhood Reports, a Monthly Newsletter and other valuable real estate information.

Regards and Good Luck,

Arlynn B. Palmer, ESQ, SRES, CBR, CMS, CNS
Coldwell Banker Claire Sobel
Associate Broker, REALTOR
... more
0 votes 2 answers Share Flag
Wed May 12, 2010
John Ford answered:
Only the listing office or a Buyers agent can get into an exclusive listing. What you should do is hire a buyer’s agent to work for you. A good buyers agent will search the MLS, Other brokers exclusives, Private or for sale by owners as well as past expired listings. A buyer’s agent is hired by you to turn over every rock to help you find the home your looking for. Most buyers think it is going to cost them so they go the traditional way by working with a seller’s agent. The problem with this arrangement is that agent is duty bound to get the seller the best deal since they work for the seller. Like a sellers agent any compensation or commission should be taken from the proceeds of the home so there is no out of pocket cost just like the sellers when they hire the agent to work in their best interests. If you research Buyers Agency on the web you will see the difference. Don't make the mistake of thinking all agents are the same. Like an attorney you want a Realtor to represent you not the other side of the transaction. ... more
0 votes 2 answers Share Flag
Wed Aug 13, 2008
Bill answered:
Go for it, Mortgage lenders are OK with seller concessions of up to 6% of the purchase price. The concession will greatly reduce the amount of money you will bring to closing so you may be able to offer a higher price for the house if the seller has a hard time with the concession. ... more
0 votes 8 answers Share Flag
Tue Aug 12, 2008
TAOS answered:
I just stumbled on your question. I am not a contractor or an expert but I thought that stucco does not need to be painted. I mean, isn't it just that whitish color in the first place ? I think some people paint it but I wouldn't if I did not have to! would love a home that did not need to be painted every 10 years! A little power washing every once in a while can't hurt though! ... more
0 votes 5 answers Share Flag
Search Advice