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Home Selling in Middletown : Real Estate Advice

  • All97
  • Local Info12
  • Home Buying27
  • Home Selling1
  • Market Conditions5

Activity 9
Thu May 23, 2013
Gail Gladstone answered:
Loretta, you are asking Realtors to respond to this question; you are already in trouble.

The best way to market your home is with a Realtor; if you don't understand that concept, there is nothing anyone can say.

Go ahead and put your house on the market yourself. It won't take long before you look for a good Realtor to sit in the driver's seat.

Good Luck!
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0 votes 26 answers Share Flag
Mon Jun 27, 2011
Michelle Holder answered:
Absolutely, you can. Use the agent you feel comfortable working with and who is qualified about that area's market! Good Luck!
0 votes 5 answers Share Flag
Mon Jun 27, 2011
Layth Abbasi answered:
you need to know the competition at your price range. if most other houses out there have hardwood floors, and you have carpeting that is kind of worn out, then you have two options, the first is to reduce the price to make it a little more attractive, or change the floors to something that falls in line with the competition, i think your better off cleaning the carpets and pricing aggressively. Doing too much work is always a risk in this market. ... more
1 vote 11 answers Share Flag
Sat May 14, 2011
Anna M Brocco answered:
If this is your property and are listed with an agent, ask him/her to update necessary changes; or flag the listing; or contact customer service directly under the help tab.
0 votes 1 answer Share Flag
Fri Feb 18, 2011
Ginny Warsaw answered:
Difficult to pinpoint but if history repeats itself as interest rates start to rise (as they have been doing these past weeks) housing prices will continue to decline-not like we saw several years ago but there will be another dip. Buyers are anxious to lock in rates and sellers (that really want to sell) are more realistic about pricing competitvely. ... more
0 votes 3 answers Share Flag
Wed Mar 17, 2010
Jeanine Panarelli answered:
I have recently closed many short sales in the past couple of months. As a short sale specialist, I can sit down with you and go through the entire process to help you out of your situation. The idea is to list your property and start working with the bank before you get a foreclosure date, if you are already in foreclosure. If you are not in foreclosure but heading that way, I can work with your lender to postpone a foreclosure. There are many rules and regulations with regard to a short sale. The best thing to do is to sit down with a specialist and go over everything in person so that you understand it. Depending on who the investor is on your loan, it will make the process easier or not. Please feel free to contact me 845-258-8293. I will be glad to provide references of those I have recently closed. Good Luck. Jeanine ... more
0 votes 2 answers Share Flag
Mon Jan 25, 2010
Vincent Maviglia answered:
Households who finance the purchase of their home with a mortgage provided by SONYMA or use the benefits provided by the Mortgage Credit Certificate are, in rare cases, required to pay what is known as the Federal recapture tax. However, a state law signed in 2007 now allows SONYMA to reimburse its borrowers who become liable for the tax after they sell their home. Any borrower who closes a SONYMA mortgage on or after July 17, 2007 or utilizes the Mortgage Credit Certificate, will be able to obtain this reimbursement.

The form to apply for the reimbursement is available from SONYMA. Click here to link to the form.

SONYMA created the Federal Recapture Tax Reimbursement program because the tax often causes undue concern among potential applicants as they consider whether to buy their first home with a mortgage provided by SONYMA or to utilize a Mortgage Credit Certificate. While few borrowers ever have to pay the recapture tax, the reimbursement program will put borrowers at ease knowing they will be reimbursed if they have any tax liability.

The Federal recapture tax applies to certain homeowners because Federal law provides that homeowners who receive a loan financed with the sale of tax exempt mortgage revenue bonds (like a SONYMA loan) or receives a Mortgage Credit Certificate may be required, in limited circumstances, to repay a portion of their gain upon sale or transfer of their home.

The objective of the tax is to enable the federal government to collect, or "recapture," all or a portion of benefit received through a mortgage financed through tax-exempt bonds or a Mortgage Credit Certificate.

However, the tax is ONLY due if a home is sold within 9 years of purchase, the borrower's household income has increased (in most cases, the income must increase substantially) and the value of the home increases.Hope I helped you.Vince BKR 845-634-1668 ex 115
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0 votes 1 answer Share Flag
Mon Mar 23, 2009
Jim Holland answered:
Hi Kathleen,
SONYMA has many ways of tieing ones hands, at least in writing, but DON"T PANIC. The closing cost assistance on your loan most times SONYMA will not ask for repayment. The first piece of advice is for you not to ask about it. If they do request a repayment after the sale then negotiate for a pro rated repayment.

In order for you to buy your single family home with your new husband you will have to get another mortgage with the condo mortgage as part of your debt ratio. The new bank will consider your condo as an invesment property. You will have to have the down payment and closing costs to close on your new mortgage. When you get your new mortgage and close on your new home continue paying your condo mortgage until you sell it. Then pay off SONYMA. If I can be of further help with answering additional questions or with the buying of a new home and/or selling your condo give me a call on my cell 845 978 7020
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2 votes 1 answer Share Flag
Sat Nov 1, 2008
Marty Remo answered:
It's not that individuals don't have success. They do. Although, realtors usually net the sellers more money.
0 votes 8 answers Share Flag
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