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Brooklyn : Real Estate Advice

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  • Local Info56
  • Home Buying117
  • Home Selling12
  • Market Conditions13

Activity 155
Wed Oct 29, 2008
Julia asked:
Sat Oct 25, 2008
Jay asked:
My friend owns a coop and because of a specific board rule cannot rent the apartment to me. She would be willing to let me live there without paying rent while she is away in Europe fo...
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Sun Jul 10, 2011
Brian Moore answered:
Are they over-priced? It appears you have an opportunity to invest at a stage which usually means better prices. There are reasons they are not selling & many factors play a role in that. They will all eventually sell & the fewer there are the more expensive they become. I've seen places converted to rentals but they are also still marketing them to sell. I say go for it especially if you plan on living there. Good Luck and feel free to contact me if you have any questions, be glad to help.

Brian Moore
Level Group, Inc
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Thu Oct 23, 2008
Sharon Home Team answered:
You can always go back to the listing agent and see if you can get any iformation from him. After a while you can find out who is the new owner by searching the tax records of the town (Brooklyn) thouse are public.

Lots of luck.
Karen Abramson
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Thu Nov 13, 2008
Scott Godzyk answered:
have your listing broker add the clause "sold as is" on the listing agreement, mls and on any sales agreement. however selling as is does to relive you if you knowing do not disclose a problem you know of, wherether a defect, holes in roof, bad plumbing, pests, etc. so make sure you discuss the reason why you want to sell as is with your realtior so they can advise you of what you can and can not do. good luck ... more
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Mon Oct 20, 2008
Dp2 answered:
The amount required will depend on several factors: the type of financing (conventional or creative), your credit rating, the amount of debt you currently have, your terms, etc.

Most conventional lenders (banks, mortgage brokers, credit unions, etc) currently require at least a 10% down-payment ($160K). If the purchase price of that home were between $271,050 and $729,750, then you might have qualified for a FHA-jumbo loan--in which case you'd only be required to put down at least 3%.

Yet, if you were to pursue creative--instead of conventional--financing, then you might have more flexibility. The key here is to negotiate with the seller to finance a portion or all of the loan amount. In fact, it might actually be easier for you to purchase a $1.6M with seller financing now in this market, because some conventional lenders are skittish about funding deals this large.
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Sun Dec 21, 2008
Manu Kapoor answered:
I would like to know more about your listing's, as i would hv investors for them.
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Wed Oct 8, 2008
Dallas Texas answered:
Each year lease renews tenant or property owner can make modifications in lease. It depends on both parties agreeing IF not then tenant would need to move. ... more
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Wed Oct 8, 2008
John Wirsing answered:
If you find the type of home that you are looking for it makes sense to test the market & go for it down. I'm assuming that you are renting now & paying your landlord's bills. Interest rates now are relatively low. Who knows where they will be in a year.
What I am seeing as I observe the daily ongoings of the local market is that there is NOT the inventory of homes that existed a year ago. Sellers are only selling in this market if they are REALLY interested in selling. They are very realistic about their pricing. I am just amazed at the bargains that buyers are able to obtain now. All of the negative news is really scaring Sellers into resetting their target prices!
Have that negative energy that is on them-WORK for you.
I would love the opportunity to help you find your new home.
As a professional Realtor, my job is to help you find the home that best suits your needs at the Right price, in a timely fashion with the least amount of hassle.
Best of all, my services will cost you nothing! Though I work for you--The Seller pays my fees!
If I can be pof assistance, please call me at 440-487-2193 or e-mail me at
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Mon Oct 6, 2008
Jean Pritchard answered:
Landlord tenant laws differ in every state. Look at your lease agreement. Does it state that it will revert to a month to month tenancy after the end of the 1 year?? You might try calling a property management company or a legal hotline to get your question answered.

In Oregon a landlord must give a 30 day written notice, either handed to the tenant or mailed first class, (or both) when the rent is changed on a month to month rental agreement. The yearly lease can only be increased at the end of the year. Jean
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Thu Oct 16, 2008
P_slope answered:
I'd suggest looking at it two ways.
Firstly- most projections are that, nationwide, prices should retreat to the levels during 2003. New York has tended to be insulated from national trends, however, the fabric of our economy has just absorbed the biggest hit in our lifetimes. In NYC, we're going to see deterioration over the next 6-18 months. It's hard to say how much. The expectations are that appreciation will be very marginal in the following 2 years (2010+). Certain neighborhoods of Manhattan and Brooklyn will be insulated from deterioration. Hard to say if Clinton Hill is one of them.

Secondly, long-term, most economists believe that the "right" home price should be around 15 X annual rent (on a comparative property). Personally, as this is the historical average, I am using this as a guideline for a purchase of my own.

You didn't specifically ask this, but your investment decision should consider how much you're putting down, and the impact on price deterioration. I'd recommend trying a "Rent vs. Buy" calculator, and assume no price appreciation (to be conservative). If this comes up positive, and you love the place, pull the trigger.
Good luck!
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Mon Oct 6, 2008
Dallas Texas answered:
You need to contact a mortgage broker have you qualified for a loan. Home pricing falling we cant predict the future long you wait you lose tax benefits for home ownership. Wasting money on renting.
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Tue Oct 7, 2008
Dallas Texas answered:
GREAT QUESTION !, you are correct question this person show proof of ownership. I would be kind of situation without "harsh" state Request for title company or attorney contact you showing proof of transfer of title , how you have interest in wanting to purchase the home... amazing money talks when you are talking about purchase.

Request when the title transfer took place info would be updated in county tax records you will invest your time contact the city. If they run you'll know
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Sat Sep 27, 2008
Jared answered:
$200,000 ...ish
Different people have different opinions, but not more than 3x your income is usually a good marker for the absolute maximum you "should" buy.
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Mon Mar 25, 2013
Trulia New York answered:
Hey Robert-

Check out the local trends here:

Ali, Community Manager
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Mon Oct 20, 2008
Christina Cavins answered:
Price is always negotiable.

Christina Asad Edwards, REALTOR
2006 & 2007 Sales Masters Top Agent
mobile or text 937-205-4741
office 937-573-0082
fax 937-433-3561
Real Living Realty
Realty, Mortgage, Title, Relocation
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Wed Sep 3, 2008
Barry Lynn Miller J.R. answered:
Yes Several DIY- HGTV are both great and you have programs like buy me-sell- curb appeal 10 or so good shows
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Wed Sep 17, 2008
Jen and Mark Bowman answered:
Go to That's the American Society of Home Inspectors (ASHI). From ASHI's website: "...founded in 1976, is North America’s oldest and most respected professional society of home inspectors. ASHI’s goals have always been to build customer awareness of the importance of a quality home inspection and enhance the professionalism of home inspectors.

Whether you’re a homebuyer, seller, real estate professional or home inspector, you’ll recognize the value in working with ASHI and any of our certified home inspectors across the United States and Canada. ASHI home inspectors stand out as models of professionalism and superior customer service. " (end of ASHI website info)

I'm a realtor in GA, but that's who we always check. You can just put in your zip code and the list of local inspectors will come up. Best wishes in your home buying.
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Sun Oct 26, 2008
John Youker, Broker answered:
Your best bet is to hire an attorney, no real estate agent could legally help you with this situation. Good luck.
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