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Pelham : Real Estate Advice

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  • Local Info7
  • Home Buying9
  • Home Selling0
  • Market Conditions2

Activity 29
Sat May 23, 2015
holly mellstrom answered:
Mon Dec 29, 2014
Antonio Sanchez answered:
Tim,

Ive had this happen to me multiple times. Highest and best is a good approach however in real estate many issues can occur. Its very important to make sure terms are solid and that the potential buyer purchasing the home has very strong financial when deciding which buyer would be best. I like to make sure that purchasers on a multiple bidding situation get pre screened through a loan officer that I have worked with in the past to make sure that no hiccups or issues would occur throughout the transaction. My job as a listing broker is to make sure that I can get the seller the highest net but also making sure that the purchases who the seller would intent to get in contract with is indeed capable of closing.



Best,
Antonio Sanchez
Douglas Elliman Real Estate
www.antoniosanchez.elliman.com
... more
0 votes 18 answers Share Flag
Mon Dec 29, 2014
Antonio Sanchez answered:
Hi Peggy,

Typically when buyers contact me and are looking to "rent to own" its only through an owner that would like to make such arrangement with a potential purchaser. There are no real programs that offer such type of arrangement for various reasons. Some of the pros and cons are

pros: you could make some interest in the lease to own purchase agreement.
cons: you could be missing out on many potential buyers.
cons: lots of headaches since you are dealing with a tenant.
pros: somewhat of a lucrative source of income if everything goes according to plan, but in real estate nothing goes according to plan.

My professional opinion would be to stay away from such arrangements unless the purchaser is willing to put down a substantial amount of money typically 10-30% down in escrow.


I hope this helps you.



Best,
Antonio Sanchez
Douglas Elliman Real Estate
www.antoniosanchez.elliman.com
347-320-0673
... more
0 votes 5 answers Share Flag
Wed Dec 24, 2014
Kurt Wiesenmaier answered:
Hi Juliet,

If you could pleas expand on your search criteria, I'd be happy to get you in contact with our commercial division.

Thanks,

Kurt Wiesenmaier
Kurt@HoulihanLawrence.com
914 715 8339
... more
0 votes 1 answer Share Flag
Thu Dec 4, 2014
Andrew Feigenbaum answered:
It's a distance that could be walked, or it could be a short drive.

If you are interested, I'd be happy to help with your search in this area. Please call me at 914-273-9688.

Sincerely,
Andrew Feigenbaum
Grand Lux Realty
www.GrandLuxRealty.com
Andrew.Feigenbaum@GrandLuxRealty.com
Office: 914-273-9688
... more
0 votes 7 answers Share Flag
Wed Oct 15, 2014
Kurt Wiesenmaier answered:
HI,

I noticed that this question is dated 2009, but if anyone else in the Trulia community would like to have updated facts corresponding to this question please feel free to contact me directly.

Thanks,

Kurt Wiesenmaier
914 715 8339
... more
0 votes 5 answers Share Flag
Wed Oct 15, 2014
Kurt Wiesenmaier answered:
Hi Kz,

Chester Park is close to the Hutchinson River Pkwy which (unlike I-95) does not allow truck traffic, so in general the noise level off the Hutch is much more manageable.

The overall noise level would depend on the exact location of the home and type of construction (ie: new windows tend to cut down on outside noise).

Please feel free to contact me to discuss your home search.

Take care,

Kurt Wiesenmaier
914 715 8339
... more
0 votes 2 answers Share Flag
Wed Oct 15, 2014
Kurt Wiesenmaier answered:
Chester Park is a lovely area of Pelham, NY - they even have their own website:

http://www.chesterpark.org/

If you'd like, I'd be happy to show you around.

Take care,

Kurt Wiesenmaier
914 715 8339
... more
0 votes 7 answers Share Flag
Wed Oct 15, 2014
Kurt Wiesenmaier answered:
Hi,

Though this question was asked a couple years ago, I thought I'd post a link to the Houlihan Lawrence website so that others can see what the current mortgage rates are:

http://www.thoroughbredmortgage.com/

-Kurt Wiesenmaier
914 715 8339
... more
0 votes 6 answers Share Flag
Wed Oct 15, 2014
Kurt Wiesenmaier answered:
Hi Marjorie,

I'd be happy to help you with your search. Please feel free to get in touch with me and we can discuss your options.

Thanks,

Kurt
914 715 8339
0 votes 4 answers Share Flag
Mon Sep 29, 2014
Kurt Wiesenmaier answered:
Hi Kevin,

You can register with LAZ Parking here:

http://rrparking.com/parking_lots/22

Though last I checked there are close to 500 people on that list and there are only 175 spots...so you'd be looking at 5+ years before that would be an option.

Whether you are a village resident or living in Pelham Manor, your best bet for immediate availability is LOT 7, which is only a block away from the station. The map can be found here:

http://www.pelhamgov.com/services/parking/index.htm

The rates for 2014 are as follows:

Permit Type 2014 Monthly 2014 Quarterly 2014 Semi Annual 2014 Yearly
Village of Pelham Resident $85.00 $225.00 $400.00 $700.00
Non-Resident (Lot 7) $104.00 $416.00 $625.00 $1,250.00

Please let me know if you have any other questions, I'm always happy to help.

Take care,

Kurt Wiesenmaier

Real Estate Salesperson
Houlihan Lawrence, Pelham
1 Pelhamwood Avenue
Pelham, NY 10803

Kurt@HoulihanLawrence.com
Mobile/Text: 914-715-8339
... more
1 vote 2 answers Share Flag
Sun Sep 28, 2014
Kurt Wiesenmaier answered:
Hi John,

This topic is associated with the Pelham zip so I'd resubmit to a Fairfield CT Q&A.

This might seem obvious, but a great resource is Google maps:

https://www.google.com/maps/place/Fairfield+County,+CT/@41.1292844,-73.2546207,14z/data=!4m2!3m1!1s0x89e80736b8dbe499:0x8a633fb361e18df

If you'd like to be connected with someone in our CT offices please let me know, I'd be happy to make that connection.

Take care,

Kurt Wiesenmaier

Real Estate Salesperson
Houlihan Lawrence, Pelham
1 Pelhamwood Avenue
Pelham, NY 10803

Kurt@HoulihanLawrence.com
Mobile/Text: 914-715-8339
... more
0 votes 3 answers Share Flag
Sun Sep 28, 2014
Kurt Wiesenmaier answered:
Hi Pieter,

I've created a map of the Pelham Heights area for your reference:

https://www.google.com/maps/d/edit?mid=zzU1LscJ6_Y8.kB-lczNTUerY

I also thought this blog post about the history of the area might be of interest to you:

http://historicpelham.blogspot.com/2014/04/early-history-of-first-years-of-pelham.html

Take care,

Kurt Wiesenmaier
Real Estate Salesperson
Houlihan Lawrence, Pelham
1 Pelhamwood Avenue
Pelham, NY 10803

Kurt@HoulihanLawrence.com
Mobile/Text: 914-715-8339
... more
1 vote 5 answers Share Flag
Sun Sep 28, 2014
John Arendsen answered:
Not only can it be tested its incumbent on you to do so. It took us over 10 years and cost us over 1.5 million dollars to de contaminate a property we own in Temecula that had a gas station with leaky tanks. It's a terrible and costly thing to go through but we had to do it. Had we sold the property with that problem it would have cost us 10 times that amount in legal costs. Just hope you don't have to insure what we did. ... more
0 votes 10 answers Share Flag
Sun Sep 28, 2014
Annette Lawrence answered:
This question posted Act 2009.

Cash STILL offers significant advantages to the seller and continue to prevail in many market segments.

If you are in a real estate market with a significant volume of cash buyers, a buyer will need to give their offer much more authority. That authority is enveloped in the word...ASSURANCE.

For instance, if you are a FHA buyer, your formula to success it to stick with 'First Look" and conventional home sales. Then think 700 times before you start piling on the contingencies. Contingencies IS the poison pill that is most likely to sabotage your ability to even get into a negotiation position.
... more
1 vote 6 answers Share Flag
Sun Sep 28, 2014
Kurt Wiesenmaier answered:
Hi Tim,

I agree with what is being said by most of my colleagues below.

I just wanted to add that you should seriously look into the benefits of hiring an engineer (can make structural assessments), the cost is slightly higher but IMHO it's worth it.

Also I thought this was an interesting quick read:

http://realestate.msn.com/10-things-your-home-inspector-wont-tell-you#7

Bottom line is this...be vigilant, this is your home and at the end of the day no one will care more than you. All too often buyers have to much of a 'hands off' approach - you should be treating this phase with upmost scrutiny.

I'm always available to help, please reach out to me if you have any other questions.

Take care,


Kurt Wiesenmaier
Real Estate Salesperson
Houlihan Lawrence, Pelham
1 Pelhamwood Avenue
Pelham, NY 10803

Kurt@HoulihanLawrence.com
Mobile/Text: 914-715-8339
... more
1 vote 15 answers Share Flag
Sun Sep 28, 2014
Kurt Wiesenmaier answered:
Hi Tee,

This is a Tax related question and I would recommend consulting with you tax advisor on the issue. If you don't have one please reach out to me and I'd be happy to help you connect with professionals in the area.

That being said, this is a very common question and I might be able to shed some light on the subject...

If you live in a cooperative, you do not own your apartment. Instead, a corporation owns the apartments and you are a tenant-stockholder in the cooperative housing corporation. If you rent your apartment to others, you usually can deduct, as a rental expense, all the maintenance fees you pay to the cooperative housing corporation.

In addition to the maintenance fees paid to the cooperative housing corporation, you can deduct your direct payments for repairs, upkeep, and other rental expenses, including interest paid on a loan used to buy your stock in the corporation.

So according to the information above the maintenance fees can be recorded as rental expenses.

Here is the link to the information I found in case you would like to use it as a reference:

http://www.irs.gov/publications/p527/ch04.html#en_US_2013_publink1000219145

Let me know if you have any further questions, I'm always happy to help.


Take care,

Kurt Wiesenmaier

Real Estate Salesperson
Houlihan Lawrence, Pelham
1 Pelhamwood Avenue
Pelham, NY 10803

Kurt@HoulihanLawrence.com
Mobile/Text: 914-715-8339
... more
1 vote 2 answers Share Flag
Sun Sep 28, 2014
Kurt Wiesenmaier answered:
Hi Toby,

It's difficult to do an apples to apples comparison, but I'll take a shot at it...

I think the best metric to use here is price. At least that way there is a consistent baseline, whereas square footage and even bedroom count has too many outside factors affecting value.

Keeping to that thought, I've looked at the history of sold condos in Pelham and City Island in the 650k price range (+/- 25k).

The only 3 bdrm condo units that have sold (in that price range) in Pelham within the last 6 years are located in the Marbury Corner Development. Pelham is on a true market value property tax basis so the property taxes will be ~3.2% of the price, which would translate to ~$20,800/year for a $650,000 unit.

There are no condominiums that have sold in that price range in City Island over the past 6 years. However in general the taxes on City Island are lower than in Pelham.

Taxes and running costs are always on the top of my client's concerns list, if you'd like to have a conversation with me about options in the area I'd be happy to help.

Take care,

Kurt Wiesenmaier
Real Estate Salesperson
Houlihan Lawrence, Pelham
1 Pelhamwood Avenue
Pelham, NY 10803

Kurt@HoulihanLawrence.com
Mobile/Text: 914-715-8339
... more
0 votes 2 answers Share Flag
Sun Sep 28, 2014
Kurt Wiesenmaier answered:
Hi,

This link might be more helpful:

http://www.pelhamschools.org/site_res_view_folder.aspx?id=65660ce1-346f-4cfa-bd4c-556000039de4

Feel free to contact me if you have any further questions about the school system.

Take care,

Kurt Wiesenmaier
Real Estate Salesperson
Houlihan Lawrence, Pelham
1 Pelhamwood Avenue
Pelham, NY 10803

Kurt@HoulihanLawrence.com
Mobile/Text: 914-715-8339
... more
0 votes 4 answers Share Flag
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