February 12, 2015 rummy

Over the last six years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth. Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. Some of the findings revealed in their report: §The average American family has a net worth of $81,200 §Of that net worth, 61.4% ($49,856) of it is in home equity §A homeowner’s net worth is over 36 times…

February 4, 2015 rummy

As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As either a first time or repeat buyer, you must not be concerned only about price but also about the ‘long term cost’ of the home. Let us explain. There are many factors that influence the ‘cost’ of a home. Two of the major ones are the home’s appreciation over time, and the interest rate at which a buyer can borrow the funds necessary to purchase their home. The rate at which these two factors can change…

January 19, 2015 rummy

Now that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. In most areas, prices are still below those of a few years ago. Also, interest rates are still near 4%. However, sellers should realize that waiting to make the move while mortgage rates are increasing probably doesn’t make sense. As rates increase, the price of the house you can buy will decrease. Here is a chart detailing this point:   www.NYREEX.com  

January 15, 2015 rummy

“Just one small tenant problem avoided can be priceless!” 1. Don’t negotiate your rental price or terms before meeting and screening the prospective tenant. It’s something we’ve all done at one time or another and have lived to regret it. In the vast majority of instances, the tenant who starts negotiating on your rental before even seeing it, is very rarely qualified financially to rent from you. Often, landlords may allow the tenant prospect to negotiate during the viewing of the rental. The tenant may criticize the property and point out improvements he or she wants done if they were…

January 13, 2015 rummy

Before family or friends come to visit over , take care of these tasks to make your home safe and comfortable. Visits from friends and family are common for many of us. Are you ready? Before company arrives, it pays to look around your home and see it as your guests might. If you’ve been living with a drippy faucet, a poorly flushing toilet, or a sticking door for months, you may have forgotten that these things need attention. A little TLC can make your home friendlier, safer, and more comfortable for your guests. Here are eight things to think about: 1. Be sure your…

September 17, 2014 rummy

We already know that the key to a successful tenancy is to first find a good tenant. Haven’t we often secured good tenants only to find they drift to the wayside and gradually become bad tenants? Why is that? There are a combination of reasons that this happens. Let’s explore how to make good tenants even better and how to keep them that way. Now that you have a good tenant you have already screened, accepted and signed a lease with, you may be tempted to feel like your job is finished for now. The property is rented! Now you can…

September 15, 2014 rummy

According to a recent National Association of REALTORS® (NAR) study, Generation Y (born 1980-1995) — sometimes called Millennials or Generation Next — make up the largest share of homebuyers (31%) in the U.S. They also make up the smallest number of home sellers (12%). Generation X (born 1965-1979) is the second-largest group of homebuyers (30%) and the largest group of home sellers (29%). The NAR report breaks down the large Baby Boom Generation into two groups. Those born 1955-1964 accounted for 16% of home purchases, while those born 1946-1954 were responsible for 14% of home purchases. The Silent Generation (born…

September 11, 2014 rummy

Another Home Sold! 50 Normandy Road, Yonkers NY 10710 Congratulations to the new home owners the Rodriguez Family! We finally made it and closed the short sale!   www.NYREEX.com  

July 22, 2014 rummy

Property Description Solid Investment property Money Maker . This Gorgeous 3 family with In-law setup House has 10% Cap Rate with 3.5% Down earn upto $1500 in profit after expenses. (1st Fl) 3 Br 1 Full Bath ($1800) / (2nd FL) 3 Br 1 Full Bath ($1700)/ (3rd Fl) 2 Br 1 Full Bath($1200) & Basement w/ 1 Br 1 Full Bath ($1100) .Recently Updated, Brand New Roof,Huge Backyard, Huge Finished Basement w/ In-Law Set up & Private Entrance Property Taxes – approx $7,000 yearly , Oil – $600 per month ,Gas / Electric – $250 per month (only for…