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Home Buying in Rego Park : Real Estate Advice

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  • Local Info6
  • Home Buying40
  • Home Selling5
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Activity 19
Wed Mar 6, 2013
Anna M Brocco answered:
Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously, therefore a personalized answer regarding mortgage qualification visit with any licensed loan officer... ... more
0 votes 4 answers Share Flag
Fri Aug 31, 2012
Kathy Huang answered:
Hi,

If the co-op's financial statement is in the negatives, you have to take a look at their reserve line to make sure the financials of the building is sound. With that being said, this is a perfect time to purchase and it is a buyers market. I will be happy to assist you with your search. ... more
0 votes 1 answer Share Flag
Wed Mar 6, 2013
Rich Homer answered:
Your best bet is to contact a local Mortgage Broker

http://www.naplesrealestateguys.com/
0 votes 10 answers Share Flag
Thu Jul 18, 2013
Anna M Brocco answered:
You can ask your agent to acquire copies of the financials, or you can directly ask management for copies, or ask your attorney to request copies.
0 votes 4 answers Share Flag
Sat Nov 6, 2010
Rich Homer answered:
M, find a good local Realtor in your area to help and good luck. You can locate several here on Trulia, and choose. If you decide you need a second home in Florida, contact us.
0 votes 1 answer Share Flag
Wed Oct 13, 2010
Ralph Windschuh answered:
If you're not currently working with an agent, I would be happy to show you available units in that - or any other building.

Ralph Windschuh
Certified Buyer Representative
Senior Real Estate Specialist
Associate Broker
Century 21 Princeton Properties
631-467-0009
rwindschuh@c21princetonproperties.com
Top 2% of Century 21 Agents Nationwide!
... more
0 votes 1 answer Share Flag
Fri Aug 24, 2012
Tracey G Rosenblatt answered:
In my personal and professional opinion i agree that the full cash payment gives you strong bargaining power because of the economy being what it is, the tighter lending rules, only one third of qualified buyers buying and so many people not qualifying because of the lack of jobs everywhere, he is also up against another 3 million foreclosures estimated in 2010, etc etc.
I wouldn't mind betting this seller has had this property on the market for some time. Also, please consider whether or not this property is an over priced turkey in the first place. I suggest you use a Realtor in your area to help you make the offer and negotiate this sale. Have the Realtor do a CMA for you before making the offer. If you need help with this, i know good agents in the area that will help you with this, and you the buyer don't pay the commission. A Realtor will know how long this property has been on the market and the properties history, and if it is over priced or not.
... more
0 votes 9 answers Share Flag
Wed Sep 1, 2010
Bruce Gresh answered:
It's still unknown what the future will bring. Always has been and always will be. Real Estate, in my opinion is a good investment. However it is not a liquid asset and if you will need your cash in a hurry you may not be able to sell your real estate for the same amount you paid for it. That being said, interest rates are quite favorable and it's an opportunity to lock into a very low 30 year mortgage rate. If you are buying real estae to actually live in, then there are some good reasons to buy a property that you really want for a good price. If you wait for the reports to confirm a bottoming of the market....chances are that will already be 3 to 6 months after that actually happens. Prices may already be creeping back up and you may or may not be paying the same or more then youwould today. But, you may not find the ideal property if you wait...so you may want to consider whether or not you are willing to take a chance with a property that you really want , or pay less ( maybe) and end up with your second, third or even fourth choice of where you want to call home. Plus, if you buy now, you will be starting to pay off that mortgage that much sooner. ... more
0 votes 3 answers Share Flag
Tue Sep 7, 2010
Ralph Windschuh answered:
When making any real estate purchase, you have to evaluate your long and short term goals. By making an all cash purchase, of course you reduce your monthly costs but you also reduce the tax benefits of having a mortgage. Of course, in the alternative, in real estate, cash is king and will give you much stronger buying and negotiating power. With an all cash deal, the seller does not have the additional concern of appraisals, waiting for loan approval and you could close as soon as you get board approval. You have to evaluate it for your own situation. I would be happy to discuss this with you further and, if you're not already working with a buyer's agent, explain the benefits of using one instead of going to each individual listing agent on any particular property. Good luck!

Ralph Windschuh
Certified Buyer Representative
Senior Real Estate Specialist
Associate Broker
Century 21 Princeton Properties
631-467-0009
rwindschuh@c21princetonproperties.com
In The Top 2% of Century 21 Agents Nationwide!
... more
0 votes 6 answers Share Flag
Tue Nov 27, 2012
Ralph Windschuh answered:
There are currently only 6 units available in that coop - which seems like a good sign. With a quick review of the comps in that building, $230 seems a bit steep. However, it seems to be a sought after coop since the prices seem to have actually gone up over the past three years instead of down. This may bode well for the future of this coop. Let me know if I can help you.

Ralph Windschuh
Certified Buyer Representative
Senior Real Estate Specialist
Associate Broker
Century 21 Princeton Properties
631-467-0009
rwindschuh@c21princetonproperties.com
In The Top 2% of Century 21 Agents Nationwide!
... more
0 votes 5 answers Share Flag
Sun Aug 15, 2010
Anna M Brocco answered:
In order to determine a fair price, you need to be aware of recently sold similar units in the immediate area--review the data and make a determination as to a fair offer--as for the maintenance, keep in mind that in some cases it may reflect assessments--you really need to review the complex's financials in order to make a determination--What is your agent and or attorney suggesting. ... more
0 votes 3 answers Share Flag
Mon Apr 11, 2011
Therese L Korahais answered:
Hi First time home buyer, it's easy- get a contractor or 2 in there- get estimates and then make your offer if the apartment is still available. You need to move quick or it will be sold from under you. Depending on the price of the unit- it may already be priced based on the condition and not be too flexible- no matter what the work that is needed.
On the other hand- the most important is to find out from a mortgage banker or broker what mortgage you qualify for. Purchase price - down payment = mortgage(you may be able to include renovation). What the mortgage will cost you per month + the maintenance+ any assessments= your monthly cost+ your living expenses. Terry K 718-614-167 cell or email me therese.korahais@elliman.com
... more
0 votes 2 answers Share Flag
Fri Jun 4, 2010
Marge Bennett answered:
Since most sellers, even the "regular" ones, not the banks, are requiring a pre-qual with any offers, I say yes. It also helps you and your agent to look in the right price range.
Marge Bennett
Sellstate Achievers Realty Network
239-560-4159
Marge @MargeBennett.com
Marge Works Harder...for YOU!!!
... more
0 votes 9 answers Share Flag
Tue Dec 15, 2009
Therese L Korahais answered:
Hi Mary Jane- difficult to say. Is it brand new never lived in??How many apartments were there? how many are left? Was it difficulty in financing? Was it the C of O that hadn't been issued? If it is below market value-it's because they want to sell it. Really need more info Terry K 718-614-3167 cell or email me therese.korahais@elliman.com ... more
0 votes 5 answers Share Flag
Mon Sep 24, 2012
Therese L Korahais answered:
Hi BuyQueens - Great location-you can call Tatyana Pres Board/Man Agt#: 212-564-2111 to get the information you are looking. Don't rely on someone else to get it for you, you are making the investment. Get the latest 2 years financials and bring to your attorney to review or your accountant. There are presently 3 -1 bedroom apartments and 4- 2 bedroom apartments that are avialable. If your still looking call me Terry K 718-614-3167 cell ... more
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Mon Jun 22, 2009
Anna M Brocco answered:
Are you buying this co-op directly from the seller's agent or do you have your own agent--if not now is the time to consider a Realtor to help you in the transaction. Commission is technically paid by the seller and unless you have a buyer broker agreement with an agent there should be no other fees. In some cases your Realtor will be able to get the financials, in others they go directly to the attorney for review--keep in mind you may also want a CPA to look as well, though not always necessary.

Anna
917-576-5376
abrocco@laffey.com
... more
0 votes 3 answers Share Flag
Tue Sep 14, 2010
Roykirk1 answered:
Hi... live at Park Plaza, purchased in October. I like the amenities nearby (Sears, Marshalls, Bed Bath Beyond, lots of supermarkets, restaurants). Even the extended area is good (malls at Woodhaven and Grand-Newton are actually within walking distance). New asian restaurant (Andy's?) on Queens Blvd is very nice.

Building staff is nice and very fast (had a clogged drain and they came up to fix it right after we left a message). Front steps are being re-done (not sure why, but it does look nicer than the previous one). Basement Laundry rooms were also completely renovated a few months ago.
... more
0 votes 4 answers Share Flag
Tue May 26, 2009
J Douglas Montgomery answered:
unfortunately the Good Neighbor Next Door Program is basically non-existant. My office sold over 200 properties the the program from inception and I get calls daily from potential participants.

FHA should be very good for you right now, along with the federal tax credit if you buy relatively shortly. There was talk of an increase, still possible as you never know what is going to change. Speak to a reputable FHA Lender and get pre-approved for a loan. It will put you in the price ball park and you can begin looking. You can structure offers based on the sellers crediting you up to 5% back allocated to your closing costs. You might want to consider utilizing the services of a Certified Buyers Representative, CBR Designate, to assist you with your sale. If you have any questions, please feel free to contact me at your convenience.

Very truly yours,

Douglas Montgomery, Broker/Owner
HomeNY Corp. Douglas@HomeNY.com
... more
0 votes 2 answers Share Flag
Mon Sep 14, 2015
Lino answered:
Yes 100% Anita Terrace is the best bildings in Rego Park.
0 votes 13 answers Share Flag
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