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11590 : Real Estate Advice

  • All23
  • Local Info7
  • Home Buying4
  • Home Selling2
  • Market Conditions1

Activity 14
Fri Jul 21, 2017
Kathy Burgreen answered:
I agree with you 1,000%. Now that I'm a retired realtor and life long resident in the NYC area, I can reveal the truth. The truth is realtors own the MLS system which has far more search filters than real estate websites do. We refuse to disclose certain information because we need buyers like you to call us for that missing information. If everything was disclosed online, there would be no need for you to call an agent and it would slow down their business drastically. For this reason, real estate agents refuse to give away information like: co-op maintenance fees, HOA fees for condos, whether pets are allowed or not in rentals, co-ops and condos, school district information, etc.

Since buyers like you are forced to call the agent for maintenance fees, it gives the agent the opportunity to convince you to work with them IF that agent feels you are a qualified buyer. You will be vetted since the agent will ask you a lot of questions to "screen you".

Yes, I'm guilty since I did the same thing when I was a realtor. Sorry, but in order to get paid, we need buyers to contact us. Now time for some tips / advice from a retired realtor:

Buying a home in Westbury / Nassau County:

1. Make sure you are pre APPROVED by a lender - not pre qualified. Big difference and agents will not accept pre qualified letters.
2. Make sure you have cash to pay your own closing costs + the minimum down payment for the co-op or at least 10% for a condo.
3. Be flexible. Buying a co-op or condo on Long Island is expensive - you're really paying for the good school districts like Westbury. Therefore, you need to keep your options open and know that you will NOT get everything on your checklist. You will need to sacrifice.
4. For co-ops and condos - make sure you review the financial reports for the building. Either you do it or your attorney or lender needs to do it. Do not close on a co-op or condo if the financials are in the red or there are financial issues. You will regret it. As a realtor, I know of many co-op and condo buildings in Westchester County that have financial issues. Red flag signs to look for: have there been frequent maintenance increases within the past 3 years? Are there any pending lawsuits or litigation matters? Have there been frequent personnel turnovers? Are there any projects pending which will require fee increases? Try to speak to residents and the super. Both will be willing to talk to you. Hang around the building during the morning rush hour and see who is willing to talk to you. If you need to work, do you have a relative, friend or somebody who can do it on your behalf?
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Fri Jan 8, 2016
UpNest Top Realtors answered:
Hi David,

The only way to get your FSBO home listed on Trulia is to have it listed on the MLS. Only agents have access, but you could also pay for what's called a flat fee listing service if you want to sell by owner (generally not a good idea).

We created UpNest (http://www.upnest.com) to help home sellers get the best value possible. All you have to do is submit a few details about your home, and we'll invite several top local agents to submit proposals to you.

Since agents are competing to earn your listing, they bring out their best commission rates and value added services, saving you a lot of money. There's no risk to try us at all, and it's completely free for you.

http://www.upnest.com

Good luck!
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Wed Aug 26, 2015
Oleg Volfman answered:
Hello Robert.

I use Enid Adinolfi, Mortgage Broker from RESIDENTIAL HOME FUNDING. Great person and gets the job done. 631-946-2931.

Good Luck!
0 votes 1 answer Share Flag
Tue Feb 11, 2014
Glenn Koebel answered:
My best friend lived on Marshall la westbury, Hicksville schools ! ! Westbury post office westbury little league too i think. The dividing line for school districts is cantiague la east side Hicksville schools, west side and all streets beyond go westbury schools. ... more
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Tue Oct 29, 2013
Nan Miller answered:
Wed Sep 11, 2013
Cristina Callegari answered:
You will need to contact the Town of Oyster Bay if you plan on handling it yourself, often times the contractor doing the work to your home will be able to apply on your behalf. Here is a link to where to get the forms: http://www.oysterbaytown.com/index.asp?Type=B_BASIC&SEC={E9A7214D-B14F-4E32-B284-477E49143E83} ... more
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Tue Jul 30, 2013
Cristina Callegari answered:
Hi Larry, greater Westbury is a large area that has many sub-areas within it, i.e., Westbury Village, New Cassel, Salisbury and Salisbury Estates. Westbury Village has the highest taxes because you are paying additional Village taxes. The taxes in all other sections are more or less comparable with the exception of Salisbury Estates where the taxes tend to be higher than Salisbury or other parts of Westbury. The higher tax rates in Salisbury Estates are due to the overall higher price in homes and the type of homes. The Estate section has more Split style homes, many of which are brick/stucco or brick/siding construction whereas Salisbury has more Cape Cod style homes that are typically strictly made of siding. I am a resident and know the area extremely well, if you would like to learn more about the area and the different home styles, etc. I would be happy to help you. Call me at 917-921-5397 or email me at ccallegari@kw.com. ... more
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Thu Jul 18, 2013
Cristina Callegari answered:
Hi Sonia, without much information the short answer is yes. However, you really should sit down with a licensed mortgage professional and have a pre-approval done. Typically, if you have negative things on your credit, but your debt to income ratios are good and your overall credit score is above 620 you can still get a mortgage. A mortgage professional will be able to advise you about those blemishes on your credit. Some of them might be easier to have removed than you think, and a mortgage professional can also advise you on the banks criteria for lending which will help you get on track for the future if you are unable to qualify for a loan at the moment. I wish you the very best of luck in your home search, and if you need help finding the right home I will be happy to do so. ... more
0 votes 7 answers Share Flag
Tue Aug 28, 2012
Nancy Jarvis answered:
Westbury has alot to offer. You can purchase a home or a coop/condo as it is very diverse. You also have alot of amenities close by like parks, shopping, LIRR and parkways.

The link below might be helpful to you.
http://www.bestplaces.net/city/new_york/westbury

Any questions please contact me.
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0 votes 6 answers Share Flag
Sat Oct 22, 2011
answered:
To add to Tearsha's information, you can read a ton of information about the FHA 203k rehab loan at http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm and briefly it says:

When a homebuyer wants to purchase a house in need of repair or modernization, the homebuyer usually has to obtain financing first to purchase the dwelling; additional financing to do the rehabilitation construction; and a permanent mortgage when the work is completed to pay off the interim loans with a permanent mortgage. Often the interim financing (the acquisition and construction loans) involves relatively high interest rates and short amortization periods. The Section 203(k) program was designed to address this situation. The borrower can get just one mortgage loan, at a long-term fixed (or adjustable) rate, to finance both the acquisition and the rehabilitation of the property. To provide funds for the rehabilitation, the mortgage amount is based on the projected value of the property with the work completed, taking into account the cost of the work. To minimize the risk to the mortgage lender, the mortgage loan (the maximum allowable amount) is eligible for endorsement by HUD as soon as the mortgage proceeds are disbursed and a rehabilitation escrow account is established. At this point the lender has a fully-insured mortgage loan.

And it goes on from there...

M&T Bank is a pretty well known lender in NY that has a rehab/203k loan specialty division.
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Mon Apr 18, 2011
Ralph Windschuh answered:
As far as I know, there is a no legal term "mother/daughter". This is a label created by the public. There is, however, accessory apartment permits available depending on where you live and what that particular township's requirements are regarding them. If you could provide me with more information, I would be happy to assist you.

Ralph Windschuh
Associate Broker
Certified Buyer Representative
Senior Real Estate Specialist
Century 21 Princeton Properties
631-467-0009
rwindschuh@c21princetonproperties.com
www.c21princetonproperties.com/ralphwindschuh
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0 votes 1 answer Share Flag
Fri Nov 13, 2009
Emily Erekuff answered:
Hi Mel,

Welcome to Trulia and thank you for your question. Photos and open house information are editable for all listings at this time, however other listing information can only be edited for those listings that have been submitted to Trulia manually.

We receive your listing information from Century 21 and they don't provide us with the complete address information for all of your listings. In order to ensure that this information shows up on our site, please contact Century 21 to request that they add the missing address information to their site and to the data feed they send to us. Once they update their data feed, our display will update automatically to show the address information thereafter.

Please let us know if you have any additional questions or feedback for us.

Best Wishes,

Emily Gibson
Community Moderator
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0 votes 2 answers Share Flag
Wed Jul 9, 2008
Mark Rienzie answered:
Hi Rosy

This can be tricky

A preliminary and quick Title search should
be done first. Foreclosed properties may have
other liens and judgments pending.

Location is critical. Westbury has about 21 subdivisions,
5 different school districts and price varies with location.

You will need to be working with a knowledgeable
real estate agent.

If you bid too low, you may be out bided
if the location warrants a higher offer.

Or you may be buying a money pit because many
foreclosed homes are not well maintained.
Paying for a Licensed Home Inspected can
expose defects and anomalies that impact
price.

Be careful.

Wish you the best.

Sincerely,
Mark R. Rienzie
Licensed Real Estate Salesperson
Century 21 Laffey Associates
(516) 333-0025 ext.313
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