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Market Conditions in 11226 : Real Estate Advice

  • All38
  • Local Info2
  • Home Buying18
  • Home Selling0
  • Market Conditions3

Activity 106
Sun Oct 6, 2013
Mitchell Feldman answered:
Dear Valentino:
I cannot say this with 100% certainty but I theorize based on looking at it that someone had purchased the property back in 2009 for $530,000 (which was a time when prices were still very high and the banks were lending money to just about everyone regardless of their ability to pay the mortgage).

Many people who purchased back then took adjustable mortgages with plans on refinancing when the interest rates would go up. The only problem is that several years later when the rates went up and the homeowner tried to refinance into a fixed mortgage... the banking industry had changed so much and was not lending money as easily as it used to. Homeowners then found that they could not refinance their loan and found themselves stuck in a situation where they could no longer afford to pay their mortgage. In addition to that, when home prices fell, quite often the debt owed on the property became more than the value of the property. Hence the homeowners were left with not much of an incentive to continue paying their mortgage.

In most cases where this happened, the home will either get foreclosed on or sold as a short sale. Either way, the house typically is sold real cheap because the bank wants to get rid of the property and just write it off as a loss. I think this is what happened here because the next sale in 2012 was for $251,000. Also, in this type of situation the house is usually purchased by an investor who's goal is to then sell the house and make a profit. Sometimes they may also do some fixing up of the property to ad value, but ultimately they are looking to sell the house and make money. hence, this is why we then see the third sale for $410,000 in 2013.

Again, this is all theory and I cannot say for sure this is what happened here, but when you look at the prices and the dates, if I were a betting man, this is what I think most likely took place with this property. If you want to discuss this further or need help buying or selling a home in Brooklyn, please contact me direct.

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
... more
0 votes 3 answers Share Flag
Mon Apr 1, 2013
Mitchell Feldman answered:
What is your question exactly?
0 votes 2 answers Share Flag
Tue Apr 2, 2013
Alison Hillman answered:
You can contact the listing agent who will be able to help you learn more about that specific property (and probably will know a lot about similar properties in the area). To find an agent, just click on the yellow button on the property's Trulia listing and you will be able to start a dialogue.

Please let me know if you have any questions or if I can help with anything else. I am happy to be a resource for you. Good luck with the search!

Best,
Ali, Trulia Voices Community Manager
... more
0 votes 1 answer Share Flag
Tue Feb 26, 2013
Anthony Mussolino answered:
This house has a shared driveway with the house next door. Let me know of you would like to take a look.
0 votes 2 answers Share Flag
Fri Feb 22, 2013
Denise DeLeo answered:
Hi, I'm not certain which property your interested in ?
0 votes 2 answers Share Flag
Wed Jan 23, 2013
Alison Hillman answered:
Hi there-

Please email us directly so that we can investigate your claim, fraud@trulia.com

Thanks for helping us make the community even better!

Best,
Ali, Community Manager
0 votes 1 answer Share Flag
Wed Jan 16, 2013
Jay Mei answered:
Each listing has its own market depending the motivation of the seller. If the seller is motivated and the listing is priced right. Then it will have a great market; if a listing is over-priced, then it will have a terrible market. If you can afford to buy, anytime is a great time to buy.

Jay Mei
Exit Realty Best
718-372-8200
jay.t.mei@gmail.com
... more
0 votes 6 answers Share Flag
Wed Nov 21, 2012
Luke Constantino answered:
This should answer your questions:

http://www.realscam.com/f8/avo-net-please-review-investigate-info-1645/

Good luck.

Luke Constantino
Realtor
Douglas Elliman Real Estate
M: (212) 300-3919
F: (917) 369-2690
lukeconstantino@elliman.com
http://lukeconstantino.com
325 Court Street, Brooklyn, NY 11231
... more
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Fri Dec 7, 2012
Mitchell Feldman answered:
Dear Ryan:

There are pros and cons to buying in each area as you stated. It is a matter of personal preference. You cannot predict the future with 100% accuracy. Your best bet is to purchase in the area where you can get the best deal based on your budget.

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
... more
0 votes 3 answers Share Flag
Sat Jan 5, 2013
Shu I Li answered:
Hi Sam
it shows still available? Do you want to go see it? send me an email with your contact information
and we can discuss any other questions you might have.
madelinepadovano@fillmore.com ... more
0 votes 4 answers Share Flag
Wed Oct 17, 2012
Alison Hillman answered:
Hi Genierie,

That's a good question! You should work directly with an agent who can help you learn more about that specific property (and probably will know a lot about similar properties in the area). To find an agent, just click on the yellow button on the property's listing and you will be able to start a dialogue.

Please let me know if you have any questions or if I can help with anything else. I am happy to be a resource for you. Good luck with the search!

Best,
Ali, Trulia Voices Community Manager
... more
0 votes 1 answer Share Flag
Thu Nov 29, 2012
Anna M Brocco answered:
When it comes to any safety/crime related issues, it's always best to contact the local police department with all your questions, hear all there is to hear firsthand. If unfamiliar with the area(s) do revisit more than once and at different times of day, possibly chat with locals/neighbors. Real estate professionals are prohibited from steering, enticing a buyer to purchase/rent, or not, in specific neighborhoods.
http://www.neighborhoodscout.com/
https://www.crimereports.com/
http://www.homefair.com/
... more
0 votes 5 answers Share Flag
Thu Sep 20, 2012
Mitchell Feldman answered:
Dear Mitchell:

The description of the property is as follows:

EXCELLENT INCOME PRODUCER! SEMI-DETACHED BRICK, SPLIT LEVEL, 3 BEDROOMS OVER 3 BEDROOMS, PLUS 1 BEDROOM, FULL FINISHED BASEMENT WITH A SEPARATE ENTRANCE, BIG BACKYARD, GARAGE, PRIVATE PARKING FOR 4 CARS, EXCELLENT CONDITION, CLOSE TO TRANSPORTATION, SHOPPING, AND HOUSES OF WORSHIP!

The asking price is $759,000. If you want to view this home or others like it, feel free to contact me, I can show it/them to you. Either way, good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
... more
0 votes 2 answers Share Flag
Sat Sep 8, 2012
Rosa Levy answered:
tax is $4.709 lot size 40x100 location is Brooklyn heart of Bergen Beach area
0 votes 2 answers Share Flag
Sat Sep 8, 2012
Anna M Brocco answered:
Taxes appear to be $398 per month, however it's always a good idea to reverify with the local tax assessor's office; monthly hoa dues appear to be $197.
0 votes 1 answer Share Flag
Thu Aug 9, 2012
Tim Moore answered:
This would be like predicting the future which not many of us can do. Chances are things could go up since they are so far down.
0 votes 8 answers Share Flag
Fri Oct 26, 2012
Voices Member answered:
yes ! there is not any more left
0 votes 7 answers Share Flag
Mon Jul 23, 2012
Alison Hillman answered:
Hi there-

Are you referring to public transportation?

Would love to help, just need a bit more information!

Thanks,
Ali, Community Manager
0 votes 2 answers Share Flag
Thu Jul 19, 2012
Anna M Brocco answered:
The estimated maintenance appears to be $504.
0 votes 2 answers Share Flag
Mon Jul 9, 2012
Michael Emery answered:
The problem with using a FSBO for comparable numbers is often they are transactions between known parties. This could be a sale from parents to a child. Often these sales are priced below market value which would skew them as a comparable sale. ... more
0 votes 9 answers Share Flag
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