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New York : Real Estate Advice

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Activity 5,594
Wed Jul 12, 2017
Michealanthony901 asked:
I'd be glad if you can Re-activate it back for me. Thanks. michealanthony901@yahoo.com. Why?
0 votes 0 Answers Share Flag
Tue Jul 11, 2017
Kathy Burgreen answered:
Is this 3rd person a family member of the seller? A buyer who previously submitted an offer and was rejected? Your last sentence was cut off. What did your lawyer say?
0 votes 1 answer Share Flag
Tue Jul 11, 2017
Kathy Burgreen answered:
You cannot sue anybody because you rented the unit (apartment) illegally for 10 years. Consider yourself extremely lucky that you lived there for 10 years. Wow! Sorry you got evicted but hopefully you learned a lesson. Always rent with a signed lease so you're protected. I'm hoping your rent was real cheap for those 10 years considering it was illegal for you to live there. If your rent was cheap, now you know why.

I'm VP of my coop building and the only rentals are thru the sponsors.
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Tue Jul 11, 2017
Kathy Burgreen answered:
The issue is landlords want to rent to legal residents who have steady jobs and U.S. credit - not to foreigners who can easily leave NYC and take the next flight out to their country.
0 votes 2 answers Share Flag
Tue Jul 11, 2017
Mary answered:
Hi,

Please follow the instructions below on how to find a Section 8 rental listings.

1. Click the Rent tab on our homepage
2. Enter your desired area in the search bar and hit Enter
3. Click More, enter the keyword 'Section 8', and click Search.

Thank you for using Trulia!

Mary
Consumer Care Advocate
http://www.trulia.com/help/ask/
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0 votes 1 answer Share Flag
Mon Jul 10, 2017
Anirudhcomputers answered:
Fri Jul 7, 2017
answered:
Great question! It appears the main issue you are trying to address is the stability of your income. Having worked at a big national bank and now at a smaller community bank, I can tell you that the bigger lenders do have what we call "overlays" to Fannie Mae and Freddie Mac guidelines.

One overlay my former employer imposed was that if your income dropped by more than 25% they considered your income not to be stable and they would decline your loan. There was the possibility of getting an exception but often loan officers at big institutions are lazy or don't know how to properly position the loan for success.

In most situations, stability can be easily explained with a letter of explanation. Here is a big tip - There are loan programs currently available which only require you to provide one year of tax returns and in that case the stability issue is a mute point. A mortgage expert will be able to answer these questions after a brief review of your finances.

Bernard Guste, MBA
Gulf Coast Bank and Trust
New Orleans, LA
504.412.2005
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0 votes 10 answers Share Flag
Thu Jul 6, 2017
Kathy Burgreen answered:
As a retired realtor and VP of my coop Board, you cannot buy a coop in the NYC area as an investment. You know that coop Boards need to approve the buyers and every Board insists that the buyer is the person who will occupy the coop unit. No coop Board will approve a buyer if they did not buy the coop themselves. Sorry but Mom and Dad cannot buy it for their children. The only thing you CAN do is contribute towards the down payment and/or pay for the closing costs.

If it helps any, I know the down payments for coops in NYC averages 20 - 30%. In the nearby suburbs (Nassau and Westchester Counties), the down payments for coops is 10% with a few asking 15 or 20%. Much cheaper than NYC's prices. Also coops in the suburbs are much less expensive and you get more square footage (larger size rooms).
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0 votes 1 answer Share Flag
Thu Jul 6, 2017
Jesus Torres answered:
I have been with this firm for going on a year and can honestly say that I have learned more about how to service my clients more efficiently that I have ever thought possible. Both buyer and seller leads are excellent but with the training and guidance of our principle broker we are taught to obtain our own. I am honored to have the privilege of working with this team. ... more
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Tue Jul 4, 2017
Kathy Burgreen answered:
Continued...Finally, last reply (read the others first)

Staten Island - I'm not that knowledgeable with Staten Island so no comment on which neighborhoods are better than others.

That's it for New York City. Now onto the suburbs:

New Jersey - Anything along the Hudson River is good. Be careful with Hoboken, Newark, The Oranges, Jersey City, Union City, Bayonne, Elizabeth, etc. Over the years, I've heard more bad things with these towns than good things. Newark is the worst. Between crime, fires, etc. research these towns carefully before moving there.

Westchester County (New York) - Expensive: Mamaroneck, Pelham, Eastchester, Rye, Dobbs Ferry, Irvington, Tarrytown, Harrison, White Plains. Less Expensive: Yonkers, Mount Vernon, New Rochelle. These towns are less expensive due to crime issues, fires, residents on welfare or housing vouchers, group homes, city owned housing, homeless shelters, etc. Also the public school systems are not as good as the more expensive towns.

Nassau County (New York) - Expensive: everything along Long Island Sound (called the Gold Coast) - Great Neck, Manhasset, Port Washington, Roslyn, New Hyde Park, Garden City, etc. Less Expensive: Hempstead, Floral Park, Franklin Square, Uniondale, Malverne, Roosevelt, Rockville Centre, Baldwin, Freeport, etc. I'll repeat the same from Westchester. These towns are less expensive because of crime issues, fires, the public school systems are not as good and the possibility of welfare residents living in housing complexes, homeless shelters, etc.

That's it. Hopefully, I gave you enough information to help you. Good Luck Hoping your income is sufficient.
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0 votes 4 answers Share Flag
Tue Jul 4, 2017
Kathy Burgreen answered:
In the NYC area, they are all a bunch of rip offs. Unfortunately, I can't recommend any. Just be prepared to shell out $$$$ because you will need it.
0 votes 1 answer Share Flag
Sat Jul 1, 2017
Kathy Burgreen answered:
Where in New York State are you buying a home? You can use a VA loan anywhere in the state. The restrictions you have is your income and your budget. With an income of $45,000., your best bet is upstate NY - anywhere in the Catskills region, along I-90, the Adirondacks or along I-86. Housing is much cheaper in upstate NY and incomes are lower so it should be easier to get a VA loan.

If you want to live downstate - in the New York City region, you will have a difficult time. Housing is very expensive and the only thing you can afford is a 1 bedroom co-op apartment.
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0 votes 1 answer Share Flag
Sat Jul 1, 2017
Kathy Burgreen answered:
The realtor is entitled to 6% of the sales price - not the contracted price. I know it seems greedy, but in the New York City area, this is what real estate agents do. They are greedy. There are some things you could have done before you signed the listing contract but at this point, it's too late. ... more
0 votes 1 answer Share Flag
Thu Jun 29, 2017
UpNest Top Realtors answered:
Hello, The only way to get your FSBO home listed on Trulia is to have it listed on the MLS. Only agents have access, but you could also pay for what's called a flat fee listing service if you want to sell by owner (generally not a good idea). We created UpNest (http://www.upnest.com) to help home sellers get the best value possible. All you have to do is submit a few details about your home, and we'll invite several top local agents to submit proposals to you. Since agents are competing to earn your listing, they bring out their best commission rates and value added services, saving you a lot of money. There's no risk to try us at all, and it's completely free for you. http://www.upnest.com Good luck! ... more
0 votes 2 answers Share Flag
Wed Jun 28, 2017
Kathy Burgreen answered:
Your budget is too low. I would advise looking in the Bronx. Rentals are cheaper there.
0 votes 1 answer Share Flag
Mon Jun 26, 2017
Kathy Burgreen answered:
You can't. The reason is real estate agents own REBNY or in other locations - their local MLS system. Realtors will limit the information that they have in their local MLS systems to real estate websites because they want buyers like you to call them for the missing information. This is how realtors stay in business. When you call, they use the phone call to try to convert you into working with them and hopefully become a client. REBNY and the MLS systems have far more search filters than real estate websites do like Zillow and Trulia.

In the NYC area, some of the standard missing information from Zillow, Trulia and other real estate websites are: HOA fees; co-op maintenance fees; whether pets are allowed or not; in some states - property taxes; etc.

I'm a life long NYC area resident and former realtor.
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0 votes 1 answer Share Flag
Mon Jun 26, 2017
Rebak225 answered:
The objective to staging is to make it easy for someone to see themselves living in that home. Plus, it needs to look like there is plenty of storage and that it never gets dirty. So, with those guidelines in mind:
Remove knick knacks and any family pictures.
Remove any unneeded furniture.
Make sure the place is clean and organized, including all closets.
Use neutral paint colors (not bright white).
Weed your garden.
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1 vote 1 answer Share Flag
Fri Jun 23, 2017
Judemock1971 asked:
Wed Jun 21, 2017
Kathy Burgreen answered:
A one bedroom apartment rental starts at $1,600 and goes up to $3,000. The average price is $2,000. - 2,500.
0 votes 1 answer Share Flag
Wed Jun 21, 2017
Sravanodapalli asked:
Hi, i am unable to access to your API how can i approach.
0 votes 0 Answers Share Flag
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