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Home Buying in Crown Heights : Real Estate Advice

  • All74
  • Local Info24
  • Home Buying23
  • Home Selling0
  • Market Conditions2

Activity 20
Thu Mar 12, 2015
Danielle Purcell answered:
I was use your acceptance and price and open escrow.. If you find anything wrong with property it will give you negotiating power on repairs :)
0 votes 6 answers Share Flag
Thu Mar 12, 2015
Daria Kolomiiets answered:
0 votes 7 answers Share Flag
Thu Mar 12, 2015
Daria Kolomiiets answered:
You can count it like this, to rent apartment in Crown Heights you need to have income 40 times rent. So if a family of 2 adults and 1 child rent 3 bdr for 3000$, they should make 120,000$ a year together. So each of them make 60,000$. Of`course, it is average. ... more
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Thu Mar 12, 2015
Daria Kolomiiets answered:
Good afternoon! Where it is located and what is the price?
0 votes 1 answer Share Flag
Wed Feb 4, 2015
Skylar Mitchell answered:
To find a good real estate agent, you first want to make sure you can work well with them. This is so incredibly important, because if they aren't easy to cooperate with, it can be really difficult to get the help you need. You will also want to be sure that they are honest and give you good information. If you have these qualities, I think that the agent will be very helpful and be able to get you the house that you want! http://www.artdelreyrealtyinc.com ... more
0 votes 50 answers Share Flag
Mon Nov 10, 2014
George Perry asked:
Mon Jan 13, 2014
Mitchell Feldman answered:
Please forward me your contact info including your email address and I can refer you to a Remax agent in Palm Desert.

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales/ e-Pro Realtor
Fillmore Real Estate
Office: (718) 252-2000/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
... more
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Sat Oct 5, 2013
Hezrell Vasquez answered:
You could find agents in the area of interest on top where it said find an agent and you could pick the one you feel more comfortable working with.
0 votes 6 answers Share Flag
Wed Jul 3, 2013
Mitchell Feldman answered:
Dear Nigelcorp:

That is a very personalized decision which only you can make. Your best bet would be to meet with a mortgage banker and get yourself pre-qualified. You would need to show the bank your last two years tax returns, proof of income and assets and allow them to run your credit report. After that you can weigh out the carrying costs on both scenarios and see which one is more appealing to you.

If I can be of further assistance, please contact me direct. Either way, good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
... more
0 votes 5 answers Share Flag
Wed Jul 3, 2013
Mitchell Feldman answered:
Dear Nigelcorp:

There are many options out there but in order to know which ones are good for you, you need to meet with a mortgage banker and get yourself pre-qualified. You would need to show the bank your last two years tax returns, proof of income and assets and allow them to run your credit report. Also, if you are going for an FHA type mortgage, you would need to make sure that the condo is on the FHA approved list.

If I can be of further assistance, please contact me direct. Either way, good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
... more
0 votes 4 answers Share Flag
Sun Mar 17, 2013
Rhonda Holt answered:
Hello, only you know if you're ready to be a landlord. You have to take a look at how you deal with people in your current life. If you are a yes person, people pleaser, hate confrontation, don't like asking people for things, put things off to the last minute and not fond of doing business and not that responsible then maybe your personality might be right for being a landlord.

Being a landlord takes a business like mind because that's what it is.....business.
... more
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Sun Mar 17, 2013
Rhonda Holt answered:
Hello, if the tenant doesn't want to sign the lease then you must inform him or her that you will have to give them notice to move out or if they do not move you may have to file papers in court for eviction. If they want something changed its up to you to agree to those terms or not.

Since I don't know the details you may have to seek an attorney for advice. Good luck!
... more
0 votes 7 answers Share Flag
Wed Mar 6, 2013
Rhonda Holt answered:
Hello, prices are usually negotiable 90% of the time. The question is how negotiable is a particular property? If you really like a property you need to have an agent tell you what similar properties go for in the current area for the last six months and current asking prices for those selling now. Then you and our agent can see if the property you want is better, slightly better, or below average compared to those on the market and then make a offer based on that information.

Also you want to consider how long the property has been on the market and the situation of the sellers because the answers can help you decide to put in a lower or higher offer. So just get all he details you can in order for you to make a smart decision.
... more
0 votes 15 answers Share Flag
Tue Feb 26, 2013
Mitchell Feldman answered:
Dear Marc:

The best month for you to put your NYC condo for sale is now and/or when you are ready to sell. Although there are some times of the year that are busier than others as far as the sheer volume of sales go, there is never a bad time to place your property on the market. During the slow times there are less buyers looking but there are also far less homes for sale. Hence the buyers that are out there during the slower months tend to be more serious and motivated. Those types of buyers are quality buyers. I would dare to say that you have more quality buyers looking in the slow times as opposed to the busy times.

In the end, it all balances out. Aside from that, we always know where the market is today, right now. Tomorrow is uncertain, things can get a lot better or worse in a heartbeat. If you are a gambling individual, you may want to wait thinking you can sell for a higher price at another time, but in the end there is no guarantee.

I would suggest that you have several real estate agents that work in your area meet with you, view your home and then have them share their thoughts with you as to how the market as a whole is performing right now and how much your condo would be worth today. Then you can make the best decision for yourself from there. If I can be of further assistance, please contact me direct. Good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
... more
0 votes 8 answers Share Flag
Tue Feb 26, 2013
John Walin answered:
Ask what the default agency model is in CA and if they practice designated agency and if under CA law dual agency is allowed. A good agent should be able to describe agency law.
1 vote 10 answers Share Flag
Tue Feb 26, 2013
Fajardo Delacruz answered:
Lisamarie, I would be happy to asst. you in way possible.

Fajardo Delacruz
Licensed Real Estate Agent
Century Homes Realty Group llc
Direct Line: 347-932-0609
0 votes 4 answers Share Flag
Fri Jul 13, 2012
Trevor Curran answered:
Dear Lisamarie,

In the event you are still shopping around for mortgage professionals, here is some advice on how you can make the best selection.

The SAFE Act of 2008 or Secure and Fair Enforcement put in place new regulations for the Licensing or Registration of mortgage professionals. A National Mortgage Licensing System was created to provide a clearinghouse for Mortgage Loan Originators and guidelines for their Licensing or Registration.

1. ALL Loan Officers working for Mortgage Bankers and mortgage brokers must be Licensed under the SAFE Act of 2008. The National Mortgage Licensing System oversees our licensing and education. Our licenses can be found for verification at http://www.nmlsconsumeraccess.com You can verify if a Loan Officer is Licensed AND Authorized to do business in your State. Just because a Loan Officer is Licensed does not mean she can do business in your State. Look at the bottom of the NMLS profile page and you will see the individual State authorizations for that Loan Officer. You can also click on "Employment History" to get a sense of the experience level of the L.O. You definitely want to do this (see #4 below)

2. L.O.'s who work for regular, depository, banks are not Licensed; they are Registered. You can verify the same information on the same website: Authorized in your State and Employment history. The registration process is carried out by the bank that employs the Loan Officer.

3. ALL OF US Mortgage Professionals, whether Licensed or Registered are required to include our NMLS License number in (and I quote) "ALL communications except internal company communications." Therefore, beware of Loan Officers who betray their disrespect for this important regulation by failing to include their NMLS number when they respond to you.

4. Experience will work best for you, so you definitely want to check the employment history on the NMLS website to see your Loan Officer has 10-15 years minimum experience in the mortgage business.

5. Local Mortgage Bankers, or Direct Lenders, are the place where you'll find the highest quality of service and accuracy for your mortgage needs. Mortgage Bankers are also Licensed with New York State Dept. of Financial Services and with NMLS

Definitions:
A Mortgage Banker is a Direct Lender and is typically a Non-Depository Institution (no deposits, no CD's, no credit cards or auto loans: just Mortgages Done well!).

A Mortgage Broker works on behalf of the client to locate a Lender (whether that's a Mortgage Banker or regular bank) who will approve the client's loan appllication at good terms.

A regular bank is a Depository Institution offering a wide array of banking services including, but not limited to mortgage loans.

Good luck!

Trevor Curran
NMLS #40140
... more
0 votes 8 answers Share Flag
Tue Jun 21, 2011
David Rogoff and Bonnie Chernin answered:
Dear Lynne:

If you call the Department of Buildings they have an "Engineer of the Day" to field calls in the afternoon. They will be able to help you.

Bonnie Chernin and David Rogoff
Fillmore Real Estate Branch #19
2926 Avenue J
Brooklyn NY 11210
917-593-4068 – David mobile
646-318-5031 – Bonnie mobile
davidrogoff@fillmore.com – E-mail
... more
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Wed Nov 3, 2010
First Last answered:
Many inexperienced buyers look at the list price ("asking price") and work down from there. They will ask me, "Should I offer 5% less? 10% less?"

This is what the seller wants you to do, but it is not the best approach for the buyer.

The list price provides only one bit of information: It tells you what the seller wants, or expects, or hopes for. The list price tells you nothing about whether the property is worth this price in the current marketplace.

So, the right way to make an offer on a property is to virtually ignore the list price!

Instead, you need to study what comparable properties have sold for in the last 30-90 days. It's also helpful to know what prices similar properties are in contract for, which is information brokers can often get with a little networking. It's also helpful to look at asking prices for similar properties, overall market trends, building-specific issues, and a few other things.

It's also vital to justify the offer you make with data, in my opinion, especially for high-end properties, but it helps for all offers.

A buyer's broker can help you get the best possible price and terms for your purchase, because a buyer's broker is working for you, NOT for the seller. There is no additional cost for anyone, as brokers *routinely* work with others (yes, even in Brooklyn!) and share commissions.

If you want to work with a buyer's broker, it's important to let the broker present your first offer for you and to engage in subsequent negotiations.

It's rather difficult for me as a buyer's broker to bail you out if negotiations break down, it's far better to start out on the right foot.

Karla Harby, VP
Charles Rutenberg Realty
kharby@crrnyc.com
... more
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