Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

11420 : Real Estate Advice

  • All18
  • Local Info2
  • Home Buying13
  • Home Selling2
  • Market Conditions0

Activity 18
Thu Jun 29, 2017
Kathy Burgreen answered:
If you're buying in South Ozone Park (Queens), you need to expect that houses sold at Auction will need major renovations / repairs with average construction costs of $100,000.+ Do you have the budget to pay for this? Further, you will need to have a licensed insured contractor because if anything goes wrong, New York City will not take your claim if the contractor is not licensed. New York City only takes claims for licensed contractors. Licensed contractors do cost more but the peace of mind is worth it.

It's possible (don't get your hopes up) that a house sold at Auction will be move in ready and maybe didn't sell the regular way because of the neighborhood. I know the neighborhood and compared to other neighborhoods in Queens, South Ozone Park is OK but not great. If you're a buyer, other neighborhoods that would be better than Ozone Park are Howard Beach, Bayside, Douglaston, Queens Village, Forest Hills, parts of Flushing, Elmont and you have Nassau County.

Just be aware that you don't want to overpay for the house because if you have to pay $100K or more for renovations and later on you need to sell it, you may not get the full amount you paid for. It's possible you may take a loss. You also should research how much prices have increased or decreased over the last 3 years. Compare that research to some of the neighborhoods I mentioned above.
... more
0 votes 1 answer Share Flag
Sat Jun 17, 2017
Corazon Poblete asked:
Tue Oct 25, 2016
Maria asked:
Potential Borrower has
- Min 2 years of employment
- Excellent credit standing
- Tax Returns
- Bank Statements
0 votes 0 Answers Share Flag
Thu Dec 17, 2015
Karen Peyton answered:
When you buy a foreclosure (not to be confused with an auction property) you will pay cash or obtain financing for your purchase.
0 votes 2 answers Share Flag
Fri Jun 26, 2015
Christopher Pagli answered:
The only way to determine a proper range of value is to have someone see the home. these online valuation tools are not accurate and can be very misleading. They don't take into account the same things agents do, location, updates, condition, etc.

Chris
... more
0 votes 1 answer Share Flag
Thu Nov 20, 2014
Derrick Sly answered:
I would say it depends on the time period you're going to be receiving that amount. Workers comp is a great source of income. That being said, it can tend to drop out over time. It all depends how long the agreement goes for. It's important to be able to work again if that agreement runs out.
http://www.bisognomeyerson.com/workers-compensation/
... more
0 votes 6 answers Share Flag
Fri Oct 31, 2014
kev101 answered:
We offer loans at low interest rates to Low FICO Scorers..
Contact kev.rich12@outlook.com for more on this program
0 votes 1 answer Share Flag
Fri Oct 10, 2014
Don Tepper answered:
Call a Realtor. When banks are ready to sell foreclosures, they list them with agents and the listings appear ont he MLS.
0 votes 1 answer Share Flag
Sun Feb 17, 2013
Gail Gladstone answered:
Seeta,

There are some lenders out there who will do a 3% downpayment.

Start with speaking with a mortgage banker so you are fully informed by those in the know.

Call:

Brian Tom
Cliffco Mortgage Bank
btom@cliffcomortgage.com
516-941-0213

After you receive your pre-approval, we will be happy to assist you in finding a home.

gail@GladstoneGroupRealty.com
631-425-6150

If anyone can do it, Brian can!

gail@GladstoneGroupRealty.com
... more
0 votes 5 answers Share Flag
Wed Sep 26, 2012
Bisendra Melaram answered:
Feel free to contact me, I'd would like to clarify your needs.

718-909-0233
0 votes 1 answer Share Flag
Wed Sep 26, 2012
Bisendra Melaram answered:
Savi, If you know where Mr. Roopnarine resides- I'm not clear as to what you are asking.
I know exactly where that address is- It's walking distance from my office.
Like Anna has already mentioned- Social Media is the way to go. ... more
0 votes 3 answers Share Flag
Thu Apr 26, 2012
Frank Sukhu answered:
There is a good Chance that you can loose your Entire Down-payment or part of your down payment if you willfully default . I am sure your attorney would be better able to answer this question. it all comes down to the Agreement on the contract of Sale ... ... more
0 votes 11 answers Share Flag
Tue Apr 10, 2012
Anna M Brocco answered:
Without much information, it's really in your best interest to consult with an attorney who specializes in real estate.
0 votes 3 answers Share Flag
Thu Oct 13, 2011
Anna M Brocco answered:
You may wish to consider working with an agent of your own, he/she can set up an automatic update or keep checking www.mlsli.com if purchasing with a mortgage, be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously. ... more
0 votes 1 answer Share Flag
Wed Jun 9, 2010
Eric D. Jarman answered:
Hi, Tony Give me a call at (347) 207-4907 and I'll be happy to help you.
0 votes 1 answer Share Flag
Fri Nov 6, 2009
Greg Knox answered:
Not sure what you mean, but if your loan is owned by Fannie Mae or Freddie Mac, you can refi up to 125% of current value. Log onto their sites and see if they own your loan. If one of them does, give me a call at 973-945-8973 and we can discuss further.
Greg Knox
MetLife Home Loans
... more
0 votes 1 answer Share Flag
Fri Dec 12, 2008
Manu Kapoor answered:
One more club resource.
Contact: Al Johnson
Number: 718-325-3700
Meeting Time: 4th Wed. of each month @6:30pm
Meeting Location: SLC Conference Center
352 7th Ave, 16th fl (30th st), New York City, NY 10001
Web: http://www.NYCREIA.com
... more
0 votes 2 answers Share Flag
Search Advice
Search

Followers

230