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Boerum Hill : Real Estate Advice

  • All12
  • Local Info3
  • Home Buying2
  • Home Selling1
  • Market Conditions0

Activity 10
moe livi, Renter in Brooklyn, NY
Fri Apr 24, 2015
moe livi answered:
Wyckoff st is very safe, i too see the crime maps but never felt it. I walk home at early morning hours because i work nights and never had a problem, my girlfriend never had problems as well. ... more
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Trevor Curran, Real Estate Pro in Great Neck, NY
Tue Aug 20, 2013
Trevor Curran answered:
Rent today; Buy tomorrow. How to convert from Tenant to Homeowner.

When I rented my first apartment in Astoria, I did not want to be a Tenant my whole life and pay my Landlordâ€s mortgage. I longed to become a Homeowner.

That’s why I found my way into the mortgage business in 1989 and soon afterward became a Homeowner. Here are the fundamentals any Tenant should know to prepare to become a Homeowner in the future, no matter when that might be.

• Credit: Establish 3 credit accounts, no more than 5. Pay your bills on time. Keep your balances to no more than 50% of your credit limit. Don’t pay off the accounts in full. Keep balances active for 12-24 months. All of the above will provide both a good credit score and adequate credit history to qualify for a mortgage loan.

• Assets: A basic savings budget isn’t hard to do. Pay your rent first in your budget; then set aside 10% of your income before taxes . Make it a budget priority and you’ll still have money left over for entertainment and restaurants and clothing.

How much money do you need to buy a home? Many buyers spend no more than $25,000 to buy their first homes. There are loan programs with low down payment requirements and many real estate agents negotiate for their Buyers a “Seller’s concession” to include the Buyer’s closing costs (which are HIGH here in New York!) in the price of the home.

• Income: Two years consistent income is the basic requirement for either a salaried individual or a self-employed person. Income from Bonus, Commission, and Overtime is treated differently and is best discussed with your Mortgage Banker.

• Market Survey: it doesn’t hurt to go out and get to know neighborhoods where you might like to buy a home. Visit open houses on Saturdays and Sundays. It’s okay that you’re not yet buying; tell the Realtor at the Open House you’re just beginning your “survey.” You’ll also get to know market prices for different kinds of homes. It’s okay to “window shop” homes on the weekend at Open Houses!

I hope these fundamentals will help you better understand the path to homeownership is a process that, with preparation and dedication, you can move through easily. And if you’re interested in getting Prequalified today to create an Action Plan for your future of Homeownership, call me anytime!

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
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Luke Constan…, Real Estate Pro in Brooklyn, NY
Wed Jan 30, 2013
Luke Constantino answered:
The truth is:
"Anything is Negotiable"

Due to the large inventory banks have now, it has become easier to negotiate down a price on an REO (more so now than ever before).

Word to the wise:

Get a skilled Realtor to be on your side: They have experience in dealing with banks and...


Luke Constantino
(212) 300-3919
261 4th Avenuue, Brooklyn NY 11215
... more
0 votes 5 answers Share Flag
Madeline Pad…, Real Estate Pro in Brooklyn, NY
Fri Nov 9, 2012
Madeline Padovano answered:
Hi - looks like its Smith & Warren streets - F & G lines - or with a short walk to schermerhorn/Hoyt you also have the A & C
0 votes 3 answers Share Flag
Luke Constan…, Real Estate Pro in Brooklyn, NY
Tue Jul 17, 2012
Luke Constantino answered:
Google their name... You can start with mine.
0 votes 1 answer Share Flag
Charles D'Al…, Real Estate Pro in Brooklyn, NY
Tue Jul 17, 2012
Charles D'Alessandro Sr answered:
All good answers from my associates! I wrote a blog that I have posted below, I hope it can help you.
0 votes 9 answers Share Flag
David Rogoff…,  in Brooklyn, NY
Tue Apr 26, 2011
David Rogoff and Bonnie Chernin answered:
The community has provided adequate links to answer your question.

We always recommend that buyers visit the schools, attend PTA meetings, read local papers and discuss the schools with other parents in the area. Moving into a new neighborhood is a big step so take your time to learn as much as you can about the issues that concern you.

Best of luck.

David Rogoff and Bonnie Chernin
Fillmore Real Estate Branch #19
917-593-4068 (CELL)
... more
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James Gordon…, Real Estate Pro in Hamilton, OH
Wed Jun 23, 2010
James Gordon ABR SFR SRS answered:
Matthew Pope, Real Estate Pro in Brooklyn, NY
Thu May 8, 2008
Matthew Pope answered:

Every condominium building has by laws that you can read in the condo offering plan, these are established by the sponser and of course with certain guidelines your condo board can amend some changes. However, your building manager is correct in the buildings insurance and may not have the liability for such a wonderful event, regards to not being zoned, that may be a incorrect it is not a commercial space that's being rented out. Good luck and best wishes to you and your future spouse, If you have any further questions do not hesitate to ask ... more
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Gail Gladsto…, Real Estate Pro in 11743, NY
Tue Dec 4, 2007
Gail Gladstone answered:
If I knew the answer, I might not be selling real estate...I might be buying it.
1 vote 5 answers Share Flag
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