There are many benefits of home ownership; however, we don’t always know about them. In this video, we go over one of the key tax benefits of home ownership in New York State: The STAR Program. As many of us know, our New York State property taxes can be exorbitant (especially outside of New York City). There are some NY homeowner tax benefits (such as STAR), though, that can put more money back into our pockets.
NYS Property Tax Rebate (STAR): To learn more about the NYS STAR Tax Exemption and Rebate programs and to register for New York State tax benefit, VISIT HERE: https://www.tax.ny.gov/star/
Selling a distressed home can present many unique challenges; however, getting full value instantly for your home in terms of offers should not be one of them. Many owners of our Bronx distressed homes (and owners of a distressed home in general) often assume the market value of their home is much less than what it actually is. In this video, we cover the importance of getting a professional equity assessment report (i.e., a home price evaluation) done by your real estate professional prior to taking your distressed home to market. Determining property value the right way from the beginning, often means a lot more money in your pocket from your home sale (especially your distressed home).
“How to sell my home and buy another?” is a common question that many sellers of Bronx real estate (and beyond) have. When you want to sell a house and buy a new one, many people assume that we have to locate their new home first and begin the purchase process before we even look to put their current home on the market. Unfortunately, this is often the exact opposite of what we need to do to successfully sell a home and buy another. In this video, we will why we often need to sell in order to buy.
In this video, I discuss 5 reasons that you should get a mortgage pre-approval if you are looking to buy a home in 2020. The benefits behind getting a mortgage pre-approval during the beginning of your homebuying journey are numerous. A licensed mortgage loan officer can generate a mortgage pre-approval for you and address specific questions regarding the pre-approval process, including the information they will need from you and the different types of loan products they offer that you may qualify to use
In this video, we cover recent guidelines changes regarding FHA loans and condos and separate the real estate myths and facts from each other. Buying a condo in NYC can be hard enough without the correct information you need to succeed. In terms of your specific eligibility for an FHA loan and for buying a condo with an FHA loan, you can always speak to FHA approved lenders for more information.
In this video, we cover what are closing costs in real estate for the sale or purchase of a residential home in New York City. It is important to note that the closing costs for buyers differ from closing costs for sellers. For your specific purchase or sale, you will want to speak to your attorney for an accurate detailing of your closing costs, which will happen towards the end of your transaction typically. For sellers, your real estate professional can provide you with an estimate of your closing costs earlier in the process. For buyers, your lender can provide you with an estimate of your closing costs in the earlier stages of your transaction as well.
In this video, we review 5 things you need to know when looking to buy a residential co-op. Co-op purchases can become very complicated since there are often 4 parties involved: 1) the seller, 2) the buyer, 3) the bank, and 4) the co-op itself. Co-ops set guidelines for their buildings that potential buyers will need to meet before they are able to purchase shares in the co-op corporation and, ultimately, live in one of its units.
This video explains what a short sale in real estate is and why a home seller or buyer may want to consider a short sale transaction. It also explains the crucial role the banks play in the short sale process and some typical features of short sales.
Many buyers assume that they need a 20% down payment to qualify for a mortgage and buy their home. In this video, we explore the down payment requirement options that people have when they are in the process of purchasing their homes.
Having enough money for a down payment or both your down payment and closing costs is a big barrier for many first time home buyers. This video provides an overview of the first time home buyer program offered by the State of New York Mortgage Agency (SONYMA), which provides down payment assistance to qualified buyers in the form of a forgivable loan.
Many people assume that the best time to sell a house to get top dollar for it is in the Spring or Summer. However, there are several reasons why you should consider selling your home in winter that we will review in this video.
As a New York City homeowner, you should have recently received your notice of property value from the Department of Finance, which tells you the estimated property taxes you will have to pay for the upcoming year. This notice also informs you of your home’s “market value,” but please know that the value the government assigns your home is not necessarily close to being accurate. In this video, we discuss the primary reasons that your notice of property value from the government DOES NOT necessarily provide you with an accurate sense of your home’s market value. It is important to clear up this myth for homeowners whether they are interested in selling and getting top dollar for their home, taking a cash-out refinance or home equity line of credit, or just interested in knowing their net worth.
Federal Housing Administration (FHA) mortgage loans can be a great option for home buyers to use. Similarly, condos can be a great option for people either looking to get their feet in the door of real estate or to downsize and reduce the amount of maintenance they have to do. Unfortunately, there is a lot of confusion regarding whether we can use FHA loans to buy condos.
Whether you are selling or buying a home, you always have closing costs to pay. Many people, however, are unaware of closing costs and what they actually are. In this video, we cover what are closing costs in real estate for the sale or purchase of a residential home in New York City. It is important to note that the closing costs for buyers differ from closing costs for sellers.
When buying a home, you will have closing costs. How you attempt to pay for your closing costs during your purchase can have a large impact on your overall home buying journey. In this video, we cover what are seller concessions in real estate as well as how they can change the competitiveness of an offer. For buyers, we provide some home buying tips that may help to increase the quality of an offer when you have a concession while on the seller side we discuss how to handle offers that contain concessions for your home.