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Cambria Heights : Real Estate Advice

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  • Local Info2
  • Home Buying8
  • Home Selling1
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Activity 12
Sun Feb 8, 2015
Trevor Curran answered:
Good afternoon Theminister,

First steps:

Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.

Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.

Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.

Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.

Put together your Team of real estate professionals and shop 'til you drop!

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
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0 votes 11 answers Share Flag
Tue Nov 12, 2013
Lior Raviv answered:
This is a tricky question. Most Real Estate agents would get back to you within the day. Others will take 24 hours to get back to you.
0 votes 10 answers Share Flag
Wed Nov 6, 2013
Anna M Brocco answered:
The question is subjective, therefore visit the neighborhood several times to get a sense of belonging. Real estate professionals are prohibited from steering, enticing a buyer to purchase, or not, in specific neighborhoods, so, you should check out the area on your own to assure your comfort level can be reached. ... more
0 votes 1 answer Share Flag
Thu Sep 26, 2013
Luis Sanchez answered:
I do some Bronx apartments that are accepting Section 8 with Working programs in the Bronx location only. If you are interested in, contact me via email to dominican.agent@gmail.com I will be happy to help you out! Have a nice day. ... more
0 votes 3 answers Share Flag
Tue Aug 20, 2013
Trevor Curran answered:
Rent today; Buy tomorrow. How to convert from Tenant to Homeowner.

When I rented my first apartment in Astoria, I did not want to be a Tenant my whole life and pay my Landlordâ€s mortgage. I longed to become a Homeowner.

That’s why I found my way into the mortgage business in 1989 and soon afterward became a Homeowner. Here are the fundamentals any Tenant should know to prepare to become a Homeowner in the future, no matter when that might be.

• Credit: Establish 3 credit accounts, no more than 5. Pay your bills on time. Keep your balances to no more than 50% of your credit limit. Don’t pay off the accounts in full. Keep balances active for 12-24 months. All of the above will provide both a good credit score and adequate credit history to qualify for a mortgage loan.

• Assets: A basic savings budget isn’t hard to do. Pay your rent first in your budget; then set aside 10% of your income before taxes . Make it a budget priority and you’ll still have money left over for entertainment and restaurants and clothing.

How much money do you need to buy a home? Many buyers spend no more than $25,000 to buy their first homes. There are loan programs with low down payment requirements and many real estate agents negotiate for their Buyers a “Seller’s concession” to include the Buyer’s closing costs (which are HIGH here in New York!) in the price of the home.

• Income: Two years consistent income is the basic requirement for either a salaried individual or a self-employed person. Income from Bonus, Commission, and Overtime is treated differently and is best discussed with your Mortgage Banker.

• Market Survey: it doesn’t hurt to go out and get to know neighborhoods where you might like to buy a home. Visit open houses on Saturdays and Sundays. It’s okay that you’re not yet buying; tell the Realtor at the Open House you’re just beginning your “survey.” You’ll also get to know market prices for different kinds of homes. It’s okay to “window shop” homes on the weekend at Open Houses!

I hope these fundamentals will help you better understand the path to homeownership is a process that, with preparation and dedication, you can move through easily. And if you’re interested in getting Prequalified today to create an Action Plan for your future of Homeownership, call me anytime!

Trevor Curran
NMLS #40140
www.tcurranmortgage.com

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
... more
0 votes 3 answers Share Flag
Tue Aug 20, 2013
Trevor Curran answered:
Rent today; Buy tomorrow. How to convert from Tenant to Homeowner.

When I rented my first apartment in Astoria, I did not want to be a Tenant my whole life and pay my Landlordâ€s mortgage. I longed to become a Homeowner.

That’s why I found my way into the mortgage business in 1989 and soon afterward became a Homeowner. Here are the fundamentals any Tenant should know to prepare to become a Homeowner in the future, no matter when that might be.

• Credit: Establish 3 credit accounts, no more than 5. Pay your bills on time. Keep your balances to no more than 50% of your credit limit. Don’t pay off the accounts in full. Keep balances active for 12-24 months. All of the above will provide both a good credit score and adequate credit history to qualify for a mortgage loan.

• Assets: A basic savings budget isn’t hard to do. Pay your rent first in your budget; then set aside 10% of your income before taxes . Make it a budget priority and you’ll still have money left over for entertainment and restaurants and clothing.

How much money do you need to buy a home? Many buyers spend no more than $25,000 to buy their first homes. There are loan programs with low down payment requirements and many real estate agents negotiate for their Buyers a “Seller’s concession” to include the Buyer’s closing costs (which are HIGH here in New York!) in the price of the home.

• Income: Two years consistent income is the basic requirement for either a salaried individual or a self-employed person. Income from Bonus, Commission, and Overtime is treated differently and is best discussed with your Mortgage Banker.

• Market Survey: it doesn’t hurt to go out and get to know neighborhoods where you might like to buy a home. Visit open houses on Saturdays and Sundays. It’s okay that you’re not yet buying; tell the Realtor at the Open House you’re just beginning your “survey.” You’ll also get to know market prices for different kinds of homes. It’s okay to “window shop” homes on the weekend at Open Houses!

I hope these fundamentals will help you better understand the path to homeownership is a process that, with preparation and dedication, you can move through easily. And if you’re interested in getting Prequalified today to create an Action Plan for your future of Homeownership, call me anytime!

Trevor Curran
NMLS #40140
www.tcurranmortgage.com

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
... more
0 votes 2 answers Share Flag
Wed Aug 22, 2012
Janet Nation, CBR answered:
Here I am. View my website www.jnationproperties.com to view client testimonials. I know Cambria Heights inside out, that was where my first home was located; I lived there for 8 years. FYI agents don't specialize in FHA loans, or any loans for that matter, it's a mortgage product provided by a lender. Foreclosures and short sales are not in abundance right now but will be in the future as a result of the National Mortgage Settlement, I made a video on that subject recently which I will discuss in more details if I receive that call. ... more
0 votes 8 answers Share Flag
Sun Apr 17, 2011
Anna M Brocco answered:
Are you referring to renting a separate apartment within the 2 family structure, if so check with your local building's department for possible needed permits... also check with NHS...
http://www.nhsnyc.org/en/find-an-nhs-near-you
http://www.nyc.gov/html/dob/html/contact/contact.shtml
... more
0 votes 1 answer Share Flag
Sun Apr 18, 2010
Thomas McGiveron answered:
It's not the "obama first time home buyer deal". The home buyer tax credit was started in 2007 and was originally $7500 and only for first time buyers. It has been modified since and is ending April 30 (you must be in contract). ... more
0 votes 8 answers Share Flag
Fri Nov 13, 2009
Nirmala Caraballo answered:
Dear Karen,

I do not have much experience with the Lynbrook area. But a few of my clients have purchased homes on Long Island with pools. When we contacted the local assesors office, my buyers were told that if they remove the inground pool it will reduce the property taxes. The amount that it reduces the taxes is obviously different from one area/town to the next. If you are working with an agent, I would suggest you ask them their professional opinion on this area or even call the local township to find out approximately how much you annual taxes would be reduced by.

If you decided to remove it, it may become very costly, if you have a property you are interested and you have an inspection done, you may also ask the home inspector their professional opinion to have this removed. There are different types of pool. In the two transactions with my clients, they ended up purchasing the homes and fell in love with the pools.

Good luck. If you have any questions, please do not hesistate to ask. I would be happy to assist you.

Nirmala Caraballo
Licensed Real Estate Agent
Cruse Realty
1408 White Plains Road
Bronx, NY 10462
Tel.: 646-479-7873
Email: nhcaraballo@yahoo.com
... more
1 vote 1 answer Share Flag
Wed Jul 22, 2009
Grace Hanamoto answered:
Maloum:

To my knowledge--and if I understand your question correctly--there is no "limit" on the age when a person may own or buy a home. Hollywood child stars, for example, buy homes all the time. However, the individual buying a home needs to have the legal "capacity" to purchase a home--in other words, be capable, legally, to buy the home and execute contracts to purchase or create a loan on the home. In order to do that, many states do require that a person be of legal age in order to execute a contract, so depending on your state, the age of consent may be 18 or another age.

Emanicipated minors, individuals who are recognized as adults although under the age of consent, may execute contracts as if an adult. Minors woud probably need a cosignor on the loan and deed to the home. However, for the most accurate information and best advice for your state, talk with a qualified legal professional to ensure that you can purchase a home in New York.

Good luck and happy house hunting!

Sincerely,
Grace Morioka, SRES, e-Pro
Area Pro Realty
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0 votes 1 answer Share Flag
Mon Mar 23, 2009
Fajardo Delacruz answered:
Diane
Have buyers agent on your side. Because this is a REO.
If you have additional questions you
can direct them to me.
My Direct # 347-813-1290.
Here is my website http://fajardodelacruz.realtors.officelive.com
or my e-mail delacruz.fajardo3@gmail.com
Hope to hear from you soon.
... more
0 votes 4 answers Share Flag
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