If a home has been on the market for longer than average, then a seller might be motivated to offer seller financing to entice a buyer who may not be interested in the house without the seller financing. In this particular situation, the seller financing acts as a motivation tool Read more…
Your credit score is the culmination of years of managing your credit cards, spending history, and different accounts. A high credit score is usually assigned to someone who is always on top of their credit card balances. Once you start missing monthly payments, your credit score will take a hit. Read more…
House hunting is as much a marketing effort than purely a finding process for the buyer. Start by telling your friends and family that you are in the market to buy a home, and describe to them with as much detail of your dream home as possible. This is your Read more…
Your mortgage application requires an appraisal from an independent third party. The lender only wants to be in a position to be able to recover the amount of money loaned to you if they are forced to sell the home as collateral when the loan is in default. The appraisal Read more…
People make money by owning Manhattan real estate. On the other side of the coin, people also lose money by owning Manhattan real estate. Typically, buyers do not plan accordingly for life event changes that may occur within less than 5 years. A great Manhattan studio apartment that was affordable Read more…
When like minded individuals pool their resources together towards buying a Flushing home, the joys and responsibilities of home ownership are shared. In theory it is very easy to split a property into 50/50 ownership to make home ownership a reality. However, before splitting such a large purchase as a Read more…
Technology has enabled brokers to complete market analysis on a property in a few clicks. What used to take hours of work looking through city records manually is now done in a few minutes through websites such as StreetEasy. Comparable reports contain sales data for: Active Listings In-contract listings Unavailable Read more…
Owning a home comes with a big financial responsibility such as mortgage payments. Lenders like to see a debit-to-income ratio under 43%. The best recommended route is to tighten up your debts such as credit card balances. Clear any loans you may have outstanding. You don’t want to have outstanding Read more…
Everyone could use a little financial help at some point from family and friends. That help could come in the form of a loan towards buying your first home. Often times, buyers are only thinking about coming up with sufficient funds for the down payment to get started on home Read more…
New constructions come with energy-efficient appliances and fixtures. New apartments and homes are wired to handle entertainment systems, computer electronics, and high-speed internet services. New York State requires builders to provide warranties on new homes: 1 year protection on faulty workmanship 2 years protection on mechanical – plumbing, electrical, ventilation Read more…