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Lighthouse Hill : Real Estate Advice

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Activity 7
Tue Jul 23, 2013
Good evening,

I’m no real estate agent, just a humble Mortgage Banker, but I can give you some guidance on your search for the right rental apartment.

In my experience in the real estate trade, I’ve discovered that the consumer is best served by adopting some simple strategies, whether you’re buying a home, selling one, or renting an apartment.

First: remember that real estate agents work on commission. The better quality agents---and those with the most experience---will be testing you from the initial contact to determine if you’re serious and will commit to using their services. Why? Because real estate is like any other business; you don’t sit at a table in a restaurant to read the menu without actually buying food at some point. It’s the same concept: the experienced real estate professional has to earn a living by renting apartments to serious and qualified prospective renters.

Therefore, the smart consumer should be well-prepared and committed to respecting the real estate professional’s time. Prepare yourself with three fundamentals: amenities, location, and price.

Know your requirements for the apartment you wish to rent in terms of amenities (one bedroom versus three bedrooms; elevator building or private house), location (proximity to public transportation or need for parking), and price. If you present yourself as well-prepared you’ll have a better chance of working with an experienced agent who will work hard to find you the right apartment.

Second, start with the internet---especially stay “local.” Don’t think a real estate agent in Brooklyn can find you an apartment in Queens, or vice versa. Here on you can easily find a local professional by clicking on “FIND an AGENT” at the top of this page. There you can hone in on a seasoned professional in exactly the area where you wish to rent your apartment.

TRULIA provides exceptional tools to help you as a consumer understand the quality of the professional you’re working with. Read the agent’s profile; check out the recommendations from previous clients; get to know the level of experience of the agent and the areas that agent covers.

Third, real estate agents are prevented by Federal regulations from answering certain types of questions. They cannot discuss schools or school districts, crime statistics, and a variety of other issues prohibited by Fair Housing regulations. If your agent is vague when you ask certain types of questions, now you know why.

Finally, demonstrate your level of seriousness to your real estate agent. Show up on time for your appointments to view apartments. If you’re required to submit documents for the Landlord to review with your rental application, get them into your agent’s hands pronto. Not only does this help you potentially get one step ahead of a competing renter, but you’ll be viewed by the Landlord as a responsible renter. Landlords prefer responsible renters, don’t they?

I hope that helps you improve the results of your search for an apartment, and helps you with a better quality experience.

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

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
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Tue Jun 11, 2013
Joseph Runfola answered:
Some of the ways the storm affected Real Estate are; sellers removing their damaged homes from the market, and buyers holding off on purchases in certain areas. Pending sales will be delayed or in some cases collapse altogether as lenders insist upon new appraisals in areas damaged by the storm. Lenders will require costly flood insurance for buildings in flood zones, second inspections for properties in these zones with loans waiting to clear for closing. Damages will have to be cured before lenders will fund these loans. There is an opportunity for construction trade workers who have survived a down housing market to get back to work, repairing, rebuilding, and in many cases relocating mechanicals from basements to higher areas. ... more
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Mon Jan 21, 2013
Jeanette Oliver answered:
I emailed this listing just to see what it was about and it is indeed a SCAM. Guys said he lived in Texas and wanted to mail me the keys in exchange for money. STAY AWAY. Like someone someone said, anything that is too good to be true usually is! ... more
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Mon Jan 14, 2013
William Knoop answered:
Please note that house you linked to was not a legitimate rental. It has been removed from the site. Your link will now point to the Listing which shows the Home for Sale.

Best regards,
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Mon Jan 14, 2013
Deborah Bracco answered:
It is a shame, some people have nothing better to do! But I'm a firm believer in "what goes around comes around."
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Mon Jan 14, 2013
Anna M Brocco answered:
Keep in mind that scams do exist therefore always proceed with caution and verify ownership before exchanging any money; for information regarding scams see link below. ... more
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Sun Jan 13, 2013
Anna M Brocco answered:
Scams do exist; for information regarding scams see link below. You may also wish to flag the property, and or, notify the site-- ... more
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