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07020 : Real Estate Advice

  • All19
  • Local Info0
  • Home Buying11
  • Home Selling4
  • Market Conditions0

Activity 16
Thu Dec 1, 2016
Paul answered:
Use to figure out all homeownership costs, including purchase price, closing costs and mortgage financing costs- including issues such as how much income do I need to verify with bank re: my downpayment, interest rate/term and points (if applicable). It's easy to understand, educational + invaluable to any homeowner/renter looking to buy a house. ... more
1 vote 1 answer Share Flag
Thu Mar 24, 2016
Jmcisaac answered:
It is nice to see that not a single comment or response shows how a finance company views the tangible increase in value of a property due to a pet policy. In fact having worked in the banking industry for over 40 years, there is no definable difference in value in the property value with a pet policy that allows a pet over one that does not have a pet allowed policy.

If someone has a tangible benchmark showing that having a pet policy will increase the value of a property - please show the evidence.

In fact, the opposite is true, ... I am a board member of a 50+ coop, and all we have is increased complaints and litigation and issue complaints related to pets in a community and this has resulted in increased owner problems, increased fees, and litigation, and has complicated the overall stability of a community.

I am open to seeing the evidence ,yet I have inquired to hundreds of banks and brokers - the only response I see no increased valuation of the property, an easier sale for the brokers, and a quick exit for people that are leaving the community - ones that do not intend to live in the community with the issues ... no real value to residents that stay other than the elusive prospect that when time to leave ... I can exit easier so I will define the value of time = money...
... more
0 votes 13 answers Share Flag
Thu Nov 5, 2015
April Hartmann answered:
It depends on how motivated the seller is, how well priced the home is and the current competition. While your question was 2 years ago, the market has changed significantly since then. Gone are the days are huge discounts off of asking price. We are now seeing multiple offer situations and some properties going for over asking price.

Please call me if you still require assistance.

April Hartmann
NJAR Circle of Excellence 2004-2012
Coldwell Banker Residential Brokerage
2151 Lemoine Ave
Fort Lee, NJ 07024
201-461-5000 office
201-723-3772 mobile

Recognized by Realtor Magazine's Top 30 Under 30 for 2008 as one of the top agents in the country.

Visit me on Facebook
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0 votes 8 answers Share Flag
Thu Nov 5, 2015
Pamela Burns answered:
Buildings that allow pets appeal to ALL buyers and as a result, increase the buyer pool and property values. Buildings that do not allow pets drastically decrease their buyer pools because anyone who has a pet will not even look in these buildings. Encourage your board to allow pets, install a dog run (if possible), and write up ground rules for pet owners. The board may want to have a size limit of fewer than 50 lbs and encourage owners and renters to pay a pet deposit. ... more
0 votes 3 answers Share Flag
Thu Nov 5, 2015
Alexander Moldoff answered:
The Marquis on the Hudson is a beautiful brand new townhome development located in Edgewater.
0 votes 7 answers Share Flag
Thu Nov 5, 2015
Jeanne Feenick answered:
You should expect that there will be maintenance fees for any condo type property. There will likely also be initial fees associated with the transfer of ownership - a paper processing fee -- often referred to as an application fee. There may also be working capital fees.

Most info is fed from the local MLS and there are fields for these fees. But I often see discrepancies. Do you due diligence and for sure, if you see that one condo in a development shows a fee and another doesn't, know that there will indeed be a fee(s).

Hope this is helpful to you.
... more
0 votes 2 answers Share Flag
Thu Nov 5, 2015
Msimonson19 asked:
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0 votes 0 Answers Share Flag
Thu Apr 3, 2014
Andrew Tisellano answered:
Hi Manan

if you have paid $80,000 to bank in only 2 years about $20,000 of it may have been for interest not sure if your taxes and insurance was also in that $80,000 so that could be another $20,000 for taxes and insurance. that gives you about $40,000 equity plus your initial %20 is another $60,000 if you feel you can sell your condo for an additional $20,000 that is a total of $120,000 subtract your closing cost that could be about $20,000 that will give you about $100,000.

If you like I can come over and give you a free consultation on the market value of your hoe and come up with a more exact walk away number. PLease contact me
... more
0 votes 4 answers Share Flag
Wed Sep 4, 2013
Andrew Tisellano answered:
Hi Min Joo

If your monthly rent is usually due on the 1st then this is the date the 30 days notice is based on.
You are accountable for the rent. Best to check with your attorney.
0 votes 2 answers Share Flag
Fri Mar 29, 2013
Brian Morgenweck answered:
I couldn't agree more...
I hope you found this helpful.
(*scratching head*)
0 votes 2 answers Share Flag
Sat Dec 8, 2012
Joshua Baris answered:
What increase are you referring too as it would be my pleasure to assist you with an answer... Please remember that all condos are different especially in the Edgewater area because many aspects will reflect the associations reserves and financials. Feel free to reach out to me for assistance with any of your future real estate needs. ... more
0 votes 1 answer Share Flag
Sat Oct 13, 2012
Jose Martinez answered:
Call me I can help you get the right agent, and policy.

Jose Martinez
Coldwell Banker Home Loans Hoboken
0 votes 3 answers Share Flag
Thu Jan 12, 2012
Brian Morgenweck answered:
The 1st home I bought was a 2-family in Hackensack & it was an absolute home run...Scratch that, GRAND SLAM!!! It was the foundation for a hell of a run in real estate. If you';re talking about being an owner/occupant, I think it's a great move. Having someone else pay a good % of the monthly costs while you live there & the property appreciates AND while rates are low & rents are rising?! It's a NO-BRAINER!
Do your homework & be aware of what is entailed in being a landlord. Then, move on it. Don't pay attention to confusion & fear...focus on the opportunity.
... more
0 votes 7 answers Share Flag
Sat Dec 10, 2011
Debra (Debbie) Rose answered:
well ,since you asked ths question over 1.5 years ago - I hope you're enjoying life in your new place.

Where did you wind up buying?
0 votes 4 answers Share Flag
Sat Dec 10, 2011
Ran Biderman answered:
If the majority of owners in any condominium rent out their units, you will have difficulty to sell since banks will refuse to loan money to any purchaser. A healthy condominium should keep a ratio of 70%+ owner occupied units. I had a few deals falling apart because banks refused to loan money when the ratio of renters was too high. ... more
1 vote 3 answers Share Flag
Thu Sep 2, 2010
Joshua Baris answered:
That is a really tricky question. In my personal opinion as a local Realtor I would say it depends more upon your specific situation more than anything else. Due to your timing and what you are risking is the reward worthwhile. If the return on your investment is greater for you to make more on your investment than there may be no real risk. The major risks are if the short sale you wish to purchase falls through then how much is your cost for the time lost. For example, did you lose out on other opportunities, legal fees, interest rates, carrying costs of selling your current property, etc. Feel free to contact me for a discussion in greater detail. Joshua Baris, Coldwell Banker 201-741-4999. ... more
0 votes 11 answers Share Flag
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