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12302 : Real Estate Advice

  • All9
  • Local Info0
  • Home Buying4
  • Home Selling5
  • Market Conditions0

Activity 53
Fri Jan 25, 2013
Anna M Brocco answered:
You won't be giving anything away, if you're not attracting potential buyers...keep in mind that a home is worth what someone is willing to pay for it; it doesn’t matter what the seller needs or potential buyers can afford to spend. Market conditions do matter as does the immediacy for a transaction to take place. In setting a price, it is in the seller’s best interest to focus on the current market conditions--therefore do review comps with your agent, recently sold similar properties in the immediate area; see what the data suggests and adjust accordingly, be as competitive as possible.... ... more
0 votes 11 answers Share Flag
Mon Jul 30, 2012
Thomas Trevett answered:
Google median household income for Schenctady 12309
0 votes 4 answers Share Flag
Fri Sep 23, 2011
Anna M Brocco answered:
Estimated annual taxes appear to be $3,900; however taxes should always be re-verified, therefore consider contacting the local tax assessor's office.
0 votes 1 answer Share Flag
Fri Apr 13, 2012
allan erps,ABR,SFR answered:
No it is not! Since I can see you live in the Albany area I have a highley recommended Home Inspector, who also is licensed in Pest Coontrol. Call Turn Key inspections(607-467-1900). Name is Dave Cassese and he is very reasonable, knowledgeable & thorough! Mention my name as well as he has done numerouse(good and bad) inspections for me. ... more
0 votes 6 answers Share Flag
Fri Oct 22, 2010
First Last answered:
The answer to your question varies from state to state.

Since you've asked this in the New York State section, I can tell you that agents licensed here (often called "brokers" in the New York City area) will ask you to sign a form acknowledging that the broker disclosed to you who she (or he) is working for.

Brokers can work for the seller ("listing agent" is the usual term), or work for the buyer ("buyer's agent"), or work for the buyer and the seller, or work as an agent for another broker or agent who is working for either the buyer, the seller, or both.

Confusing?! It sure is! That's why we have the form. Because you need to know if the real estate licensee you're working with is representing you as a buyer, or representing the seller, etc.

By law the broker has a fiduciary responsibility to the person for whom she (or he) is working. The word "fiduciary" means the person must, by law, put your best interests ahead of her own. This is a very good thing for consumers.

However, in real estate transactions, studies have show that buyers are especially likely to be confused about who brokers are working for without clear disclosure.

For example, buyers will think an agent hosting an open house, who is so pleasant and so helpful to you as a buyer, wants to find you the best place at the lowest price. In actuality, that agent's job is to sell the place that had the open house at the highest possible price--that is, the agent is working for the seller.

If you meet a lot of brokers you could sign a lot of these forms. It is not a contract at all, it's just a legal disclosure. Please read it and sign if you are handed a disclosure form, and know that the broker handing you the form doesn't mean to inconvenience you; she's only following the law.

Karla Harby
Charles Rutenberg Realty
kharby@crrnyc.com
... more
0 votes 3 answers Share Flag
Sat May 22, 2010
Anna M Brocco answered:
Since no local answers yet--consider contacting any local realty office(s) and ask, any agent can help you, with information, showings, etc.
0 votes 1 answer Share Flag
Tue Dec 10, 2013
Richard Malsed answered:
Hi Gary,

If you call a local Realtor, they should be able to pull the tax records for you. It only takes a minute or so on the computer, and they could let you know.
I hope this helps. ... more
0 votes 4 answers Share Flag
Fri Feb 19, 2010
Carl answered:
PS & UPDATE >>> I bought under (Nov 2008) with contract stipulation that the property be valued at no less than 80% to value (and purchased it for $125k in dire need of roof, had an old oil hot air furnace, it had a open trench in the basement slab (since repaired), even the interior paint was extremely bad + landscaping looked like Jurassic Park, etc., etc., etc.. Back then listings (and sales) were showing value of $209-229 range last wek appraisal was $140k. . Trulia (today) shows: BRICK RANCH HOME, 3 beds, 1 bath, and approximately 1,612 square feet. UPDATE: The property has a lot size of 14,810 square feet and was built in 1957... I can see taking a 40k hit from 200, but not 60k - any ideas of how to proceed here? ... more
0 votes 2 answers Share Flag
Fri Jan 25, 2013
Bill Eckler answered:
Future,

It is commonly understood that the winter months of the northeast are not the most desirable to have a home on the market.

Having lived in the Schenectady area for over 50 years and bought and sold homes at various times of the year, we would like to offer that although on a deminished volume, there are still buyers out there that are serious and seeking the right opportunity.

Our recommendation is to place less emphasis on the time of year the property is listed and more on presenting the home in he most favorable light possible.

clean, paint, declutter, organize, make minor repairs and updates etc.

How many people are thinking your same thought....April?????

You may have an advantage of being the pick of the litter now! What is the advantage of waiting?

Good luck,
The Eckler team
... more
0 votes 5 answers Share Flag
Wed Aug 7, 2013
Patrick Thies answered:
Contact the local police department. They should be able to provide you with that info.
0 votes 4 answers Share Flag
Sun May 19, 2013
Theresa Brown answered:
Equity, appraised value, good credit, steady income will all come into play. The bank does not have to agree to someone assuming the mortgage if everything doesn't come together as showing this person is a good risk. Additionally, with interest rates so low, perhaps a new loan will offer an interest rate lower than what the rate is currently. Read and understand what the current loan terms are and talk to another lender to consider your options. Good luck! ... more
0 votes 4 answers Share Flag
Thu Jan 14, 2010
Fred Griffin answered:
In many States it is called a CMA (Comparative Market Analysis).

There is a difference between a CMA and a BPO (Broker Price Opinion). As you said, the BPOs are generally for Banks, REO Departments, etc.

In some States, Brokers can charge a fee for a CMA; in some states, they cannot.

Obviously, a Broker or Agent will want to be compensated for the time it takes to put together the CMA.

Hopefully you can find an Agent that will do this for you, for a reasonable fee.

Best wishes,
Fred
... more
0 votes 2 answers Share Flag
Tue Sep 8, 2009
Bob Eberle answered:
If you'd like to give me your house address, I can give you the absorption rate. I go through the MLS and collect data of homes that sold, pended or expired in the last 6 months. You can email me at BobEberle@kw.com. ... more
0 votes 0 Answers Share Flag
Thu Jan 14, 2010
Bill Eckler answered:
Hi Liz,

This is a situation best referred to an attorney for their input. There may be other options that may be otherwise overlooked.

Good luck
0 votes 3 answers Share Flag
Thu May 28, 2009
Christine Serafini answered:
Dan,

Home prices continued to fall the first 3 months of this year but consumers were encouraged by low mortgage interest rates and improvements in the stock market.

Although I do not have the crystal ball after reading many articles of past market shifts the shifts usually make a complete shift during a 7 year period. Since prices are still falling the first part of the year I would say that we have not hit the bottom line of priced homes before they start to shift upwards.

Good news for sellers is that there are incentives and programs for consumers to purchase homes. If priced and marketed correctly a home will always sell!

If you should have any more questions or would like to discuss this topic further please do not hesitate to contact me.

Regards,
Christine Serafini
Realtor
... more
0 votes 8 answers Share Flag
Mon Mar 30, 2009
Kevin Clancy answered:
As an appraiser it is not possible to answer this question without additional information. Most importantly would be what the current floor plan looks like, the location of the home, the price range, and typical home layouts for the area. ... more
0 votes 0 Answers Share Flag
Mon May 20, 2013
Donna Macan answered:
I cannot understand way you are having a hard time getting an agent to work for you. Are your requirement unrealistic? I know that everyone is looking for a "good deal" when actually anything you buy in this market is a good deal. ... more
0 votes 7 answers Share Flag
Thu May 2, 2013
Thomas McGiveron answered:
Dave,

i'm not familiar with the area - but in general i can say that it's a great idea for you to consider investing in real estate!
0 votes 5 answers Share Flag
Thu Jan 8, 2009
Jeff Curran answered:
The public records show no property with that exact address. Sometimes the house number or mailing address is different from the legal address. The records show property with address 1629 & 1630 Avnue B, the next address after that is 1634. You can search public records for this area at :http://landrecords.schenectadycounty.com/ or contact a real estate professional such as myself for further assistance.
Thank you,
Jeff Curran, Associate Broker
jcurran@realtyusa.com
Office 518 458-7000 ext. 232
Mobile 518 424-2445
RealtyUSA.com
Commercial/Investment Division

If you would... If you know of someone who may appreciate the kind of services I offer I'd love to help them. So when you come across these people, just give me a call with their name and business number and I will be happy to follow up and take good care of them for you.
... more
0 votes 1 answer Share Flag
Tue Aug 5, 2008
Ute Ferdig answered:
Hello Blue54. The answer to your question really depends on the circumstances. I think one of the biggest issues will be to come up with a fair purchase price. When you hire an agent you expect them to provide you with guidance concerning the fair market value of the property and when the agent wants to purchase the propery him/herself, I think the agent can't help you with that and remain impartial. If I were you I would insist on having the fair market value determined by an independent appraiser.

If you agree to owner financing you want to make sure that the agent will put at least 20-30% of the purchase price down and that the agent will be able to make the payments. The agent should not be treated any different from how you'd treat a third party buyer. Last, but not least, there are agents who advertise that they'll buy the house if it does not sell within so many days for a certain price. Usually, the set price is low enough and the agent is confident that he/she can find a buyer for the property and if the porperty really does not sell within the specified time, the agent has investorys standing by to purchase the property from the agent.

In summary, the listing agent's offer to buy the house is not per se unethical, but it has to be done right to protect the seller's interests and to avoid a conflict of interest. I hope this helps.
... more
0 votes 7 answers Share Flag
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