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11552 : Real Estate Advice

  • All19
  • Local Info2
  • Home Buying9
  • Home Selling4
  • Market Conditions0

Activity 16
Mon Nov 7, 2016
Ian Lozada answered:
Generally, with that amount, you'll be looking at 1 bedroom 1 bath co-ops in most of central Nassau County. Keep in mind that most co-op boards will insist on 10-20% down payments, however. Very few of them will take 5% down, which is the minimum most lenders will do on a co-op loan. As Kathy noted, pay attention to the financial statements for the building you're buying into. You want to see strong cash reserves and a solid history. ... more
0 votes 4 answers Share Flag
Thu Nov 3, 2016
UpNest answered:
This is a very good question. Do you have a realtor to help you? UpNest.com is a useful platform that helps you find the right fit for your needs. You can compare commission rates and rebates. Enlisting a good realtor is the best way to get answer. ... more
0 votes 10 answers Share Flag
Sat Feb 28, 2015
Peter Viveiros answered:
Hello CJ,
I always tell buyers the best place to start is with the bank you currently do business. Also, be sure to ask for a preapproval not a prequalify there is a difference. As for the down payment, your loan officer will be able to go over your options. If you are still in the market for a home feel free to contact me with any questions.

Best of luck.
... more
0 votes 14 answers Share Flag
Mon Feb 16, 2015
Tim Moore answered:
I find that strange too. I never heard of a flat fee lawyer either. You must have used a lawyer in training. You should always receive a copy of every document you signed at the very least. You should get a copy of every document in the transaction. Prices vary. Around here each side must use a lawyer and the price runs between $400-750 depending on if you are the buyer or seller (cheaper). ... more
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Tue Mar 25, 2014
Jeannette Batsikas answered:
Thu Apr 25, 2013
Trevor Curran answered:
Good afternoon Bob,

I've been helping First Time Buyers for 23 years as a mortgage professional and I will tell you what I have always told my clients here in New York: If you are a First Time Buyer, steer clear of foreclosures and short sales.

Foreclosures are someone else's headache. The home probably has not been well-maintained and you're a First Time Buyer adjusting to paying a mortgage. Do you really want to walk in the door to someone else's deferred maintenance that YOU will have to pay for? Also, if you're thinking there are deals to be had in terms of lower prices, mostly those "deals" go to professional investors who can pay cash, negotiate hard with a Lender, and close fast.

For Short Sales, my attitude of late is that First Time Buyers should steer clear. Short Sales tend to be a better deal for the homeowner than for the Buyer. You'll wait MONTHS for the homeowner's Lender to approve the short sale; maybe as long as Six or Seven Months. Meanwhile, you're stuck in a contract to buy that home. I closed a short sale recently with a Buyer who, after seven months said this at the closing table, "I don't even want this house anymore."

And he didn't even get the "deal" on price he thought he was getting! The house appraised for only slightly more than he paid for it at the short sale price. He walked into this deal thinking he was buying a home for $100,000 less than it's value. In the end that wasn't the case.

There are plenty of motivated Sellers with their homes listed on your local MLS. Go find a good Local Mortgage Banker, get prequalified, then find a great, experienced Realtor, and buy the home you want at the price you're willing to pay.

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
... more
0 votes 7 answers Share Flag
Wed Mar 20, 2013
Webb Alo answered:
Hello A.G. PennyFinger - It is central to the homeownership process that you fully understand all the steps involved. To help each client accomplish this we have a homeownership counselor on staff. She has over 25 years experience working in the non-profit industry and is available to answer all your questions.

If you are looking for a buyers agent we would love to offer you our services. Contact us anytime for more information @ 914-299-0420.
... more
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Sun Feb 3, 2013
Ann Ryan answered:
Bils, did you have a buyer's agent in the transaction, or did you rely on the builder's staff?
0 votes 8 answers Share Flag
Sun Feb 3, 2013
Tracy Santrock answered:
Most brokers will not recommend that you have an inspection until their are signatures on both sides of the contract. In addition, because short sales could have additional liens on the property I advise you to ask your agent if a title search has been on the home. This will help you figure out if additional liens such as HOA or even alimony from a previous spouse which could cause a delay in closing. ... more
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Fri Oct 5, 2012
Nick Gandhi answered:
Tax consultant (CPA) or tax Attorney is your best bet
0 votes 4 answers Share Flag
Fri Mar 16, 2012
Daniel Rosenbaum answered:
Hi Shea,

Legally agents aren't allowed to 'steer' you towards purchasing or not purchasing on any specific area or block. The best thing to do is drive through the area to check it out. You can also check out the community stats. You can do some research on the community of West Hempstead itself on the website listed below. If you would like more information about any properties or would like to schedule an appointment to see any, please email or give me a call.

Happy house hunting.

Daniel Rosenbaum
Jacobson Realty
516-678-9111 ext 108
drosenbaum@jacobsonrealty.com
... more
0 votes 5 answers Share Flag
Fri Feb 13, 2009
Anna M Brocco answered:
Not all realtors are the same--if it's not here I would simply question why.
0 votes 6 answers Share Flag
Mon Dec 1, 2008
Stephen Mahabir answered:
You really need to have a heart to heart with a Realtor as there may be too many differing opinions. Having owned your first home for so long you may still be in a good position to come out ahead, but depending on your financial situation you may have other options as well.
You can feel free to contact me at smahabir@hillcourtrealty.com.
... more
0 votes 4 answers Share Flag
Sun Oct 19, 2008
The Tim Wood Group answered:
JR, it might be good strategy in your area as I stated. In my area, the agents that use it are not effective. The reason the house for $1.9 sold was not because of the PVRM, it was because the seller accepted the right price. In my opinion, if a house is priced correctly from the beginning it will sell for the top price with interest from all buyers. There is no need for the PVRM, just price it right and forget the gimmicks. ... more
0 votes 11 answers Share Flag
Wed Oct 15, 2008
Lawrence&Sheila Agranoff answered:
Good for you Jenny...Owning a house outright is terrific! Why did you buy the second house? Did you buy it as an investment? If so, then keep it for a while until the market starts climbing up again. If you need any assistance in renting or selling, you can contact us at our email: longislandrealtors@gmail.com ... more
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