New York Real Estate Blog: June 2008

Property Description

6 Family 100% Brick Building In The Heart Of Ridgewood. Needs Tlc. All Units Are 3 Bedroom Apartments. Great Investment Building With Many New Upgrades, Newer Roof. Great Opportunity For An Investor Or User To Own A Treasure Of Real Estate In This Prime Location. RENT STABILIZED BUILDING.

Bsmt/Subfl- Full Unfinished

1st Floor- Apt1L (3Br) $11,597 Per Yr. / Apt1R (3Br) $6,166 Per Yr.

2nd Floor- Apt2L (3Br) $10,644 Per Yr. / Apt2R (3Br) $5,859 Per Yr.

3rd Floor- Apt3L (3Br) $9,033 Per Yr. / Apt3R (3Br) $12,027 Per Yr.

Lot Size- 28 x 100

Lot Square Footage- 2,800

Building Size- 28 x 68

Approx Int SqFt- 5,712

Zoning- R6

Approx Year Built- 1931

Construction- Brick

Block- 3565

Lot- 22

SOLD IN 13 DAYS!!!!!

Listing Price: $679,000

Contract Price: $635,000

Title Date: June 26th, 2008

Days on the market: 13

SOLD IN 13 DAYS!!!!!!

Vincent Martinez

Prudential Network of Homes

107-02 Jamaica Ave.

Richmond Hill, NY 11418

Email: ProRealtor@verizon.net

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

The first units are expected to sell between $5,000 and $10,000. As with other technology it will eventually get more and more afforable and within the next 20 years one out of four Americans will have one in their homes. It's what our children and grandchildren will be using on a daily basis in their homes.

Coming soon to a bar, restaurant, casino and retail store near you.

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/

I've worked with hundreds of attorneys over the past decade. It's easy to see how when you consider a real estate transaction requires three (3) attorneys... one (1) representing the buyers best interest, one (1) representing for the sellers best interest, and one (1) representing the bank. So I've compiled a list of the ones that I really like working with. They are always available and have always delivered everything they promised.

Luke Scardigno
123-60 83Ave Suite 1T
Kew Gardens, NY 11415
Office: 718-261-5151
Fax: 718-575-0968
scardignolaw@aol.com  

Richard Stein
86-52 Woodhaven Blvd.
Woodhaven, NY 11421
Office: 718-847-4000
Fax: 718-847-6276

Leesa Shapiro
Office: 718-846-7100
Fax: 718-846-8866

Joan Soares
80-02 Kew Gardens Rd.
Kew Gardens, NY 11415
Office: 718-575-2225
Fax: 718-575-2228

Bob LaGarenne
87-16 Woodhaven Blvd.
Woodhaven, NY 11421
Office: 718-846-4465
Fax: 718-846-4701

Jim Reiser
109-19 Jamaica Ave.
Richmond Hill, NY 11418
Office: 718-849-0302
Fax: 718-849-9781

James "Jim" Kocoris
600 Old Country Rd.
Garden City, NY 11530
Office: 516-227-2662
Fax: 516-227-2739

Edward "Ed" Dooley
6 Welder Ct.
Huntington, NY 11747
Office: 631-351-8734
Fax: 631-351-8734

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/

 What if running your car on water was possible. Believe it ot not there's someone already working on it! And, he's been so successful the government has contracted him to build millitary vehicles that will run on H2O.

Check it out below.

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/

 Imagine being able to control everything in your home with your Wii-Mote!!!

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/

Happy Father's Day!!! 

Any man can be a Father, but it takes a special person to be called Dad.

What Makes A Dad

God took the strength of a mountain,
The majesty of a tree,
The warmth of a summer sun,
The calm of a quiet sea,
The generous soul of nature,
The comforting arm of night,
The wisdom of the ages,
The power of the eagle's flight,
The joy of a morning in spring,
The faith of a mustard seed,
The patience of eternity,
The depth of a family need,
Then God combined these qualities,
When there was nothing more to add,
He knew His masterpiece was complete,
And so, He called it ... Dad
Author is unknown

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/

It's yet another alternative to foreclosure. One that I don't really recommend... instead I would recommend a shortsale. Click here to learn about shortsales and how you can benefit from them if you're considering the Deed-in-lieu of foreclosure.

Vincent, What is Deed-in-Lieu of Foreclosure?

You may be able to deed the property to your lender/servicer and avoid a lengthy foreclosure. This would help to keep away from a long-lasting foreclosure. For information on how this will disturb your credit rating, consult an independent tax advisor. This alternative sends to the credit bureau that the economic condition was mitigated. If accepted, the Deed-in-Lieu documents will be forwarded to your banks attorney's office to finalize the procedure. Here are the required documents you will need to complete the process:

• Updated financial information for all parties on the mortgage(s)
• Interior appraisal
• Title Reports, to ensure that the property is free and clear of any debts, liens, encumbrances, and the premises are vacated
• Completed Deed-in-Lieu documents

The entire process takes roughly ninety (90) days to complete, however, it may take longer.

The quickest and best method is still the shortsale process (if you qualify). Click here for more information.

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To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

Have you ever heard people that their experience "was a real roller-coaster ride"?

Well, to see if housing prices really were a roller-coaster ride this video was created based on the inflation-adjusted index. The info was based on sales of existing homes from 1890-2007.

It gave me the sensation (towards the end) that things are finally leveling off. Check it out.

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/

I have a couple of dogs myself and know the odors they leave behind can be ofensive to most people. When trying to sell a home there are many obstacles to overcome. Pet odors should not be one of them. Here's a product I use in my home. It's 100% organic and very easy to use. Watch the video.

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/

Vincent, What is the shortslae process?

The process is rather simple... You may be able to sell your home at fair market value even if the sale's proceeds are less than what you owe on your mortgage(s). This alternative gives you an opportunity to sell your home quickly, while attempting to save your credit rating. At the close of escrow, if the short sale is approved, the proceeds are wired to your bank and your obligations tho them are fulfilled.

The documents required:

• Updated financial information for all parties on the loan (Contact me for more information Click here)
• Completed short sale documents (i.e. Purchase Agreement, HUD Documents etc.)
• Verification of income
• Interior appraisal

The short sale process takes roughly 60 days to complete, however it may take longer.

The shortsale stages are:

• Determination of value - Can be done in the first 2 weeks
• Negotiation and approval of offer - Can be done as quickly as 2-5 days
• Final approval - Can be completed as quickly as 2-5 days
• Escrow closing - Should take roughly 2-4 weeks

For a more detailed explanation check out the following videos:

Shortsale Video in English

Shortsale Video in Spanish

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To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

There are a lot of factors to consider when pricing your home or property to sell quickly and for the HIGHEST PRICE. 

• Market Conditions.
• Comparables.
• Your timeline.
• Accesability.
• Incentive Offerings.
• Net Proceeds.
• Pricing Factors.

New York Market Value can help you determine what the right listing price should be. Click here to find out what's the most money your property would sell for in today's market.

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/

I must admit, when it comes to growing flowers I don't exactly have a green thumb! Perhaps some of you feel the same way. Maybe you don't have the time, energy, or resoursces to create a blue ribbon prize winning flower garden. However, with just a few minutes a day for about a week you can transform the front of your home (or backyard).

A client of mine recently decided (after a chat we had on adding curb appeal to her property) that she needed to do something... anything! She went online looking for quick blooming flowers and her search resulted in: Roll-n-Grow.

We went from having 2 showings to 5 showings per week on her property and we are currently Under Contract. Most of the buyers that would stand outside her home were hesitant about looking at it before because it wasn't "inviting" them in. After adding these fast bloomers prospective buyers wanted to see the rest of the house (studies show that most people buy with their eyes).

I'm not endorsing this product nor am I being paid to tell you about it. However, if you're looking to add curb appeal to your property and bring in the buyers then you should at the very least check it out and decide for yourself.

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/

The number one reason why a house doesn't sell is :

• Price- You're price is too high! If the house is overpriced then no one will want to look at it (or even put an offer on it). Pricing your home is an art that involves many factors. For example, location, condition, demand, market movement, etc. Some agents will purposely overprice the house with intentions of lowering the price (by $100k sometimes) at a later date, perhaps after a few weeks or even months of NO ACTIVITY. This will cause you to lose your "competitive edge" when having to reduce your price later. Sellers who want to "test the market" will lose big!

Other reasons of why a house doesn't sell:

• Accessibility- It is difficult to gain instant access to your property! First, your home needs to be listed with a broker who is a memeber of your local MLS (Multiple Listing Service).  It's important that other agents in the area show it to as many potential buyers as possible. After all, the more agents show your property the bigger the pool of buyers that will lead to the best offers. Make sure that your agent can see the house at pretty much any time. An hour's notice might not seem like a good idea, however the easier it is to see the home with a prospective buyer the easier and faster it will sell.
• Changing Market- It's no big secret... I'ts a buyers market! To put it as simple as possible: there are too many homes for sale and not enough active buyers.  There are several things you can do to combat this market.  The most effective approach is to sell at a lower price.  Buyers are anticipating to find bargains during a buyer's market.  You can also help yourself by offering to pay some concessions to help a buyer that might not have a lot of ready money.
• Lack of exposure- Your marketing is outdated! The finest listing agents all employ an aggressive marketing plan to promote their listings.  If your listing agent isn't making sure your residence can be stumbled on effortlessly on the internet, isn't actively publicizing his or her listings to other agents in the area, isn't running ads in the local newspapers and real estate publications, then it might be time to change agents.
• Property Condition- Too many homes competing against yours! Your residence has to contend against other similar homes for sale, as well as competing against polished brand new homes.  The more you can do to make your house look attractive to a buyer, the better your chances for a quick sale.  Look at your home with an analytical eye - put yourself in the buyers situation.  A buyer doesn't want to do anything... except move in.
• Your agent- You have either a part-time agent or ,even worse, a full time agent that nobody likes! If your listing agent is brand new to the real estate OR isn't liked or respected by other agents in your area, it could slow down the sale of your home.  When an agent gets ready to show homes to prospective buyers, the agent starts by interviewing the buyer to find out what kind of home they are searching for.  Then the agent searches the local MLS (Multiple Listing Service) and other sources for homes that suit the buyer.  If there are a number of high-quality matches to choose from, and one of them has been listed by an agent that is difficult to get along with, or arrogant, or has otherwise made himself unpopular, well...  It's just human nature to be inclined to pass over somebody you're not fond of.

To find out how to make your home DESIRABLE over the competition go to New York Market Value fill out an easy and simple form and get your Highest Price Analysis.

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To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/

Vincent, What Is Title Insurance?

Title insurance is protection against loss resulting from problems associated with the title to your property.  

Before you purchased your home, chances are, it may have gone through several owners, and the land on which it stands went through many more. There may be a fragile link at any point in that chain that could surface to cause trouble.  For instance, someone down the line may have forged a signature in transferring title. Or there may be outstanding real estate taxes or other liens. Title Insurance is an insurance policy to guarantee your ownership against claims, liens or judgments that might arise after your purchase or loan has been completed. Title insurance covers the insured party for any demands and legal fees that arise out of such harms.

Your title insurance provider will investigate and certify ownership of real estate before it is purchased, sold or refinanced. They'll search state and municipal public records for the property and persons in the business deal. They'll give notice to you and your attorney or lender of any claims that may challenge your ownership or the new loan on the property. If an issue one way or another did not emerge during their investigation, your policy insures that they take responsibility.

It's a significant part of your closing costs.

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To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/

Welcome to my Recent Sales Update.  I hope homeowners in L.I.C. will find the information useful.  I will be updating sales monthly.

Listed below are all residential sales in L.I.C. NY, for the period 5/01/2008 to 5/31/2008 as recorded by our local MLS (L.I.B.O.R. aka Long Island Board of Realtors).   

0 (zero) Homes were SOLD (closed ) in Long Island City for the period of May 1st thru May 31st of 2008.

If you have questions do not hesitate to email me at ProRealtor@Verizon.net

I will be happy to hear from you.  If you are a home owner in Queens, Brooklyn, or Long Island and are considering putting your home on the market, I provide a NO COST NO OBLIGATION Highest Price Analysis. 

Remember sales prices are not the entire story.

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/