Great question! I am actually working with a client who is considering the same type of property. I would recommend you check with the applicable Building Dept to understand their requirements regarding demolition and construction, permits etc. I would also recommend speaking with a tax attorney regarding any impact the conversion would have on the property taxes. Your agent should be able to give you a list of reputable contractors etc. to contact for estimates.
If you are a for sale by owner the post is not allowed; if and when you do list with a broker, ask your agent to post the listing, or consider any flat fee realty company that feeds into the site....... more
NO WAY! I am new to trulia and I just assumed I was reading the information here incorrectly. I just now verified with my mother who lives in Garden City, that indeed last year's taxes and home insurance combined were actually $16,500- and that is after having applied her retiree discount.... more
I recently moved back from the PIttsburgh area so I understand very well the differences between the Pittsburgh market and Garden City. I would be able to help you do an apples to apples comparison for your daughter so you can understand neighborhoods. I was in Wexford PA for a few years and understand the recent market there as well.
Congratulations to your daughter on her Doctorate. Rental prices in Long Island are very high so if she does have an opportunity to buy that's a great thing. It might even be worth her while to see if she can get preapproved. Bank of America and Wells Fargo both have programs for individuals in your daughters position being a recent graduate. A great opportunity for her to build her own equity as well.
I would be more than happy to help your daughter if you have no already located an agent to help. I specifically work on relocations and could help point her in the right direction.
Please feel free to contact me at your earliest convenience.
Licensed Real Estate Agent
The Donnelly Group
A great option despite wanting to rent to own, espcially if you have never lived in the are before is to just rent for one year and save more for your down payment. It will also give you a chance to learn the various neighborhoods.
Mortgage lending rules are becoming more stringent, and especially in Garden City where inventory is so low and there is high demand in your price range. You will be competiting on bids where other buyers either have all cash or 20% down. It is possible to buy with less of course, but getting the home you really want might take you a while longer.
Feel free to contact me at firstname.lastname@example.org if you have further questions. I have a great referral to speak about mortgages with, and would be more than happy to help you find the right home, whether it be renting first or buying. I dont think its about necessarily finding a rent to own home, its about finding the right home for you and your family.
The Donnelly Group
Licensed Real Estate Agent... more
Home prices rise with the supply and demand theory. If enough qualified buyers are looking and there is not enough inventory, then the market will tend to rise in those areas. No one can look into the future and tell what percentage or where it will happen. It is a guesstimate based on past history.... more
You know the 43% DTI is primarely for non conforming (non GSE loans). Fannie/Freddie/Ginnie are not subject to this (at least for the next 7 years). That being said some lenders are implementing this accross the board.
Some of us will still be going of DU/LP findings.... more
Money is GREEN, not black or white. You have the money to live there ,,,,than you will be tolerated. If you treat your kids, like the precious gift from God, and not like they are farm animals , you will be excepted.... more
Usually, if the agent isn't phoning you back it is because he/she already has an accepted offer, or the house is under contract. However, that is not an excuse for not phoning you back and letting you know the status. I would start with phoning the office and asking if the home is still available. If it is, then I suggest you use a buyer's agent to schedule the appointment and show you the home as the listing agent is representing the interests of the seller and has already demonstrated a lack of professionalism by not returning your call.... more
Data can be obtained on MLSLI most of the time. If the location is outside of the reach of MLSLI, than other sources may be used to find the information you need. Contacting an agent may be useful to save you time.
John A. Weber IV, Associate Broker
Bayview Estates Realty
(516) 777-0146... more