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City Island : Real Estate Advice

  • All22
  • Local Info4
  • Home Buying10
  • Home Selling0
  • Market Conditions2

Activity 18
Dan Tabit, Real Estate Pro in Issaquah, WA
Fri Feb 13, 2015
Dan Tabit answered:
Esppr,
It depends upon your debt, credit, assets and what you may find in your price range. Talk to a great local lender to see what may be possible.
0 votes 1 answer Share Flag
Bruce McInty…, Real Estate Pro in Bronx, NY
Fri Jan 10, 2014
Bruce McIntyre answered:
You have a few options. I deal with a lot of foreclosed properties. First thing is, is it on the market? Many times these pre foreclosure properties go to the auction first. If so there are open houses scheduled. Please give me a call so that we can possibly schedule a showing or at least get the full details on the property of your interest.
Bruce McIntyre
Vice President
Pantigagroup
bruce.mcintyre@pantigagroup.com
646.588.1720
... more
0 votes 4 answers Share Flag
Cormac McEne…, Real Estate Pro in New York, NY
Sat Jan 4, 2014
Cormac McEnery answered:
HI Toby

We don't get many 3 bedroom condos on City Island. There is currently a unit at $599,000, but usual range is $500K and up. Most are 1 and 2 bedrooms. Two bedrooms start around mid-300's and go up from there depending on complex and amenities, but averaging $450K - $500K at this time.

Please feel free to contact me with any questions you may have.

Sue Kawczynski
City Island Real Estate, Ltd.
718.885.9600
suek@cityislandrealestate.com
... more
0 votes 5 answers Share Flag
Fred  Brisse…, Real Estate Pro in Bronx, NY
Wed Aug 7, 2013
Fred Brissett answered:
Hello Mrs. Krock
I do have a summer cottage

Give me a call
Fred Brissett Jr
Licensed Real Estate Professional
Keller Williams Realty NYC Group
2300 Eastchester Rd Bronx NY 10469
Office: (718) 679- 6800
Cell: (646) 316- 7286
Email: Fbrissettjr@kw.com

Cell Phone is preferred.
... more
0 votes 2 answers Share Flag
Mir Ali, Real Estate Pro in Bronx, NY
Mon Oct 29, 2012
Mir Ali answered:
It is 2-Br condo & monthly fee is $691.
0 votes 4 answers Share Flag
Trevor Curran, Real Estate Pro in Great Neck, NY
Wed Sep 12, 2012
Trevor Curran answered:
Foreclosures are someone else's headache. The home probably has not been well-maintained and you're a First Time Buyer adjusting to paying a mortgage. Do you really want to walk in the door to someone else's deferred maintenance that YOU will have to pay for? Also, if you're thinking there are deals to be had in terms of lower prices, mostly those "deals" go to professional investors who can pay cash, negotiate hard with a Lender, and close fast.

For Short Sales, my attitude of late is that First Time Buyers should steer clear. Short Sales tend to be a better deal for the homeowner than for the Buyer. You'll wait MONTHS for the homeowner's Lender to approve the short sale; maybe as long as Six or Seven Months. Meanwhile, you're stuck in a contract to buy that home. I closed a short sale recently with a Buyer who, after seven months said this at the closing table, "I don't even want this house anymore."

And he didn't even get the "deal" on price he thought he was getting! The house appraised for only slightly more than he paid for it at the short sale price. He walked into this deal thinking he was buying a home for $100,000 less than it's value. In the end that wasn't the case.

There are plenty of motivated Sellers with their homes listed on your local MLS. Go find a good Local Mortgage Banker, get prequalified, then find a great, experienced Realtor, and buy the home you want at the price you're willing to pay. It's a Buyer's Market, after all!

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528
... more
0 votes 11 answers Share Flag
Trevor Curran, Real Estate Pro in Great Neck, NY
Wed Sep 12, 2012
Trevor Curran answered:
A short sale is a different kind of transaction than the normal real estate purchase. You are essentially going to wait while the Seller negotiates with their Lender(s) for approval to sell you the house at a price lower than what is owed to the Lender(s). This process can be lengthy, even stretching out to many months before you have a final answer.

You'll need two things during that time:

1. Patience. While you've submitted all your documents to your Lender for your mortgage approval, and you keep your documents current and updated, you'll grow frustrated with the lack of any communication from the Seller about the status of the short sale. This is common, both the poor communication and the Buyer's frustration. Prepare for it.

2. Maintain your credit scores. Be sure not to make any dramatic changes to your credit report that could affect your credit scores. Pay all bills on time. Don't CLOSE any accounts. Don't open any new accounts. Don't run up your outstanding balances to max your revolving debt.

Once the short sale is approved, you may find the price you offered is not acceptable to the Seller's Lender. They may come back and counter-offer your price, so you will have to reconsider at that time if you wish to pay more than your original offered price.


The three rules of real estate: Location, Location, Location.
The three rules of short sales: Patience, Patience, Patience.

I hope that helps!
Trevor Curran
NMLS #40140.
Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528
... more
0 votes 6 answers Share Flag
Trevor Curran, Real Estate Pro in Great Neck, NY
Wed Sep 12, 2012
Trevor Curran answered:
Rent To Own is a better deal for the Seller than it would ever be for a potential Buyer.

The basic concept is finding a way to "force" savings towards a down payment by including a portion of the monthly rental that goes towards that savings. You pay your rent every month and your Landlord deducts a pre-determined amount to hold in a special bank account, called an "escrow" account. Your Landlord holds that money until you have saved up enough---through this "forced-savings" method---to meet a down payment to purchase the home.

The terms of the purchase price, including the down payment amount, and the amount to be set aside from the rental for down payment, are all set down at the time of lease signing.

It's all about helping the renter/tenant save up enough money for a down payment to buy a home (in this case, the one you're renting). But this is a better deal for the Seller because he gets to lock in a purchase price and a buyer today for a future sale.


Saving money for a down payment? Well, heck, you can do that on your own.


If you are dedicated to the idea of buying your own home, you can create your own savings plan to save up enough money for a down payment. And when you have saved up enough for a down payment, if that takes a year or two or more, YOU get to decide on the price you're willing to pay for the house at that time based on current market conditions. You won't be locked in to a price that may be a lot higher than what the house is worth in the future.

With Rent To Own you'll be locked in both to the house and to the price, even if it takes you 3 years to save enough through the forced savings of the rent payments. What happens if three years from now your life situation has changed? Maybe you need a bigger/smaller home. Maybe your employment has relocated. Maybe your credit or income is insufficient to qualify for a mortgage loan.


Find a way to save up on your own; not with Rent To Own.


Sit down with a local Mortgage Banker and get yourself prequalified, too. You may find you're better qualified than you think you are, and, if you're not, at least you'll know how much loan your income and credit qualify you for, and how much you have to save towards down payment and closing costs.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528
... more
0 votes 6 answers Share Flag
Miriam Rosa, Real Estate Pro in Bronx, NY
Wed Jun 13, 2012
Miriam Rosa answered:
Legally no realtor can give out information about the ethnicity of a particular neighborhood . The best way is to research the area yourself. Visit the area on different days and different times of day to get a sense of the neighborhood. ... more
1 vote 3 answers Share Flag
Joseph Runfo…, Real Estate Pro in Staten Island, NY
Sun Sep 19, 2010
Joseph Runfola answered:
It’s a very safe, very nice community with ambiance. By land, the island is reached by a small bridge, leading onto City Island Avenue, which runs the 1.5-mile length of the island. The island is no more than a half-mile wide. Many of the streets end at private beaches. City Island Avenue is the only through street north and south and the route of the city bus that passes about every 30 minutes ( BX29 bus links City Island to the Pelham Bay Park subway station, the last stop on the No. 6. The bus ride takes about 5 minutes, and the subway to and from Midtown is about 50 minutes)and two express buses (BXM7B) from City Island to Manhattan during the morning rush hour, and two that return in the evening. It takes about 50 minutes to reach Midtown; fare is $5. The island is mostly residential, one- or two-story family detached or semidetached homes. ... more
0 votes 3 answers Share Flag
Robin Lynch, Other/Just Looking in Westchester County, NY
Mon Apr 12, 2010
Robin Lynch answered:
Hi Harley,

You can also access the subway maps provided by Metro North. Here is the link if you want to paste this into your browser.

http://www.mta.info/nyct/maps/submap.htm

You can click on each station for more information.

Robin Lynch
Keller Williams Realty Group
914-315-6182
... more
0 votes 3 answers Share Flag
Robbie Vaughn, Real Estate Pro in Mineola, NY
Sat Dec 19, 2009
Robbie Vaughn answered:
Hello Edward.

I won't even attempt to give you an answer without knowing all the facts, but here is a pertinent part of the NY foreclosure statute:

"The plaintiff, at least twenty days
before a final judgment directing a sale is rendered, shall file in the
clerk's office of each county where the mortgaged property is situated a
notice of the pendency of the action, which shall specify, in addition
to other particulars required by law, the date of the mortgage, the
parties thereto and the time and place of recording."

Can they? You might want to consult a real estate/foreclosure attorney if you are still not sure after reading the above.

This is the best I can do on this Q & A forum. Wish I could help more, but my professional liability insurance is high enough already ;0).

Hope this helps.

All the best,

Robbie L. Vaughn, Esq. (Robbie Vaughn)
Long Island Real Estate Attorney
70 West Main st.
East Islip, NY 11730
631-277-4907

Disclaimer:
No Attorney-Client, or Broker-Client relationship is formed until we have a signed agreement. This is not legal advice. Please verify any and all information provided to you.
... more
0 votes 2 answers Share Flag
Robin Lynch, Other/Just Looking in Westchester County, NY
Fri Dec 4, 2009
Robin Lynch answered:
Hi Sandy,

3/2 rental homes in Fleetwood, at the moment, generally range from $2200 to $2800. Are you presently looking to rent?

Robin Lynch
Keller Williams Realty Group
0 votes 1 answer Share Flag
Catherine N.…, Other/Just Looking in Philadelphia, PA
Tue Jul 21, 2009
Catherine N. Argyros asked:
Catherine N.…, Other/Just Looking in Philadelphia, PA
Tue Jul 21, 2009
Catherine N. Argyros asked:
Gizmo, Home Buyer in Westchester County, NY
Thu Mar 27, 2008
Gizmo answered:
I read 4 articles from 4 different news sources saying Texas (in Dallas and Houston and suburbs) is the next new real estate frontier. House prices are real low now and so lot of people are moving there and investing there. ... more
0 votes 8 answers Share Flag
Deborah Madey, Real Estate Pro in Brick, NJ
Sun Aug 5, 2007
Deborah Madey answered:
Hi,
I think you might have asked a question about Tenafly, NJ. If you are thinking of purchasing in NJ, the following link may be helfpul. It provides information on a State of NJ site about loan options for first time buyers. ... more
1 vote 2 answers Share Flag
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