Foreclosure Real Estate Listings

Follow me on twitter @Ridwan2906

Showing posts with label Real estate broker. Show all posts
Showing posts with label Real estate broker. Show all posts

Saturday, December 8, 2012

Dream Home: The Come-True Edition

REAL estate ads invariably pitch the home of one’s dreams, but how often does anyone actually find such a thing? For people who fixate on living in a certain neighborhood, on a certain block or even in a certain building, however, success only has to come once. And if they’re exceptionally lucky, clever or patient, they may get their wish.

These people go to remarkable lengths to snag their dream home. They hound real estate agents, besiege landlords, tack notes on doors, drive doormen crazy. They plant their names on waiting lists for hard-to-access buildings. They send beseeching letters to owners, promising to be model tenants. Even if they don’t spend the rest of their days in the home of their dreams — because even the happiest love affairs sometimes wind down or crash entirely — they rarely express regrets.

There’s a reason such obsessions flourish in New York. “In this city, we’re all walkers,” said Andrew Phillips, a Halstead broker who has received his share of “Call me the second the place becomes available” entreaties. “We pass the same building again and again, we walk down the same block, and we think, ‘Wouldn’t it be great to live there?’ Being a New Yorker is being slightly voyeuristic. And as we take the same route over and over, our dreams start forming.”

REAL estate home of one’s dreams - Maiden smart-looking narrowboat moored modern housing estate on the outskirts of Market Drayton
 'Maiden' at Market Drayton A smart-looking narrowboat moored adjacent to a modern housing estate on the outskirts of Market Drayton. (Photo credit: Wikipedia)
The fact that demand typically outstrips supply compounds the yearning. “The available housing stock is so limited, so fought over,” Mr. Phillips said. “Plus, most people can’t afford exactly what they want. Plus everyone wants what they can’t have.”

For Helen Eisenbach, a writer, editor and longtime Upper West Sider, obsession took the form of an address in or near the East Village. “It’s this little pocket of New York that hasn’t disappeared or been homogenized,” Ms. Eisenbach said. “For decades I secretly dreamed of living there.” But a rent-stabilized studio in the West 90s kept her tethered uptown for more than 30 years. That her brother and her mother, now 90, also lived uptown exerted an additional pull.

The chain of events that dislodged Ms. Eisenbach began five years ago when her rent, by then destabilized, began escalating sharply. “I was on Streeteasy every day,” she said. “Sometimes I’d look forlornly at listings for places downtown, but I knew that was a dream that would never happen. I knew my family wanted me to be near them.”

Then her sister, Susan, a real estate buff who lives in London, arrived for a visit. “As always,” Ms. Eisenbach said, “the first question out of her mouth was, ‘Do you have any apartments for us to look at?’ I had three from Streeteasy that I’d saved out of sheer fantasy. We saw them the next day, and afterward Susan announced to the family that I’d be leaving the neighborhood.”

In December Ms. Eisenbach closed on an alcove studio on East 14th Street, just on the cusp of the East Village, for which she paid under $400,000. The place is so spacious she has room for a grand piano. “Plus even the elevator is gorgeous,” she said. “When do you like an elevator?”

She loves the tiny stores, the hole-in-the-wall restaurants and especially B and H Dairy, “where I practically live,” she said. She pays regular visits to her mother, though for Ms. Eisenbach, an avid walker, the journey takes an hour and a half, not 15 minutes.

“Still, I’m beside myself with joy and euphoria,” she said. “I can’t believe that this is my neighborhood and that I made myself at home so quickly. The past 30 years feel like a faded memory.”

Linda Gottlieb discovered her dream apartment when she went to a party in the early 1980s. The hostess was a rising media star named Arianna (soon to marry Michael Huffington), and the setting was her spectacular duplex in the century-old Studio Building on East 66th Street.

“It was one of the few apartments with a double-height living room, and the ceilings seemed to go up to the heavens,” said Ms. Gottlieb, the producer of the 1987 hit movie “Dirty Dancing.” “The rooms were lit by candlelight and filled with glamorous people. That party really embodied everything magical about New York.”

At the time Ms. Gottlieb was living in a West Side apartment furnished mostly with hand-me-downs. “But I kept seeing that vision in my mind,” she said. One day in 2000, having moved to a two-bedroom apartment on the East Side and increasingly flush thanks to the success of her movie, she asked her broker if she had any apartments in that building. “She had one,” Ms. Gottlieb said. “And when I walked in, there was the identical layout. My heart soared.”

She spent $4 million to buy the 3,500-square-foot space, which was on a higher floor than Ms. Huffington’s but identical in layout. She and her husband moved in right after the attacks of Sept. 11, 2001.

For years the memory of the Huffington party filled these rooms. “When my son and his partner stood on the balcony for their commitment party, when I gave glamorous benefits for a hundred people, I saw shades of Arianna,” Ms. Gottlieb said. And as with the Huffington apartment, hers was boldly designed, slathered in what Ms. Gottlieb describes as Palio colors — reds, purples and turquoises — and furnished with artifacts from around the world.

For a decade, she loved the apartment without reservations. Yet once her children moved out, the 10 rooms seemed more burden than benefit. The spiral staircase was tricky to navigate. “We don’t use half the space,” Ms. Gottlieb said. “We’re ready to turn the page.” The apartment is being sold; the closing will be this month.

For Barrie Mandel, heaven arrived in 1989 by way of a mysterious newspaper ad. Ms. Mandel, a social worker turned real estate broker, was living with her doctor husband, Harvey Schneier, and their three young children in a loft they owned near City Hall. But she was dreaming about TriBeCa, specifically a row of restored Federal town houses on Harrison Street, nine red brick buildings that had escaped the wrecker’s ball when the area was designated for urban renewal.

“The ad was for a duplex in a three-bedroom town house in TriBeCa,” Ms. Mandel said. “I had no idea where it could be. Then a colleague reminded me that there were only nine town houses in TriBeCa, and they were all on Harrison Street. It was like moving your foot and finding a gold coin.”

She knocked on each door, inquiring about a duplex for rent. At No. 27A, she struck pay dirt; the man who answered said the apartment was in his building. “I told him I’d always wanted to live here,” Ms. Mandel said. “He took me upstairs, and that was it.”

Five years later, the couple bought the house at 25 Harrison Street for $550,000, and they’ve been there ever since, charmed by such details as the five fireplaces, the oak floors and rear gardens that flow into one another. “It’s a house that makes you feel like you want to take off your coat and linger,” Ms. Mandel said. “It feels comforting, in good times and bad.”

She often sees curious strangers pausing outside her doorway, and sometimes she invites them in and shows them around.

In Greenwich Village, an enclave of exquisite homes that encourages strolling and peering into windows, it’s no wonder that real estate yearnings flourish in powerful fashion, as they did for the writer and filmmaker Delia Ephron.

For Ms. Ephron, raised in Los Angeles but a New Yorker at heart, the grail was not just the Village, where she had lived briefly in her 20s, but specifically the nine-block patch bounded by Ninth Street, 12th Street, Broadway and the Avenue of the Americas. The longing persisted during the years she lived in Los Angeles as an adult, rooted there by a husband, stepchildren and the demands of the movie business.

“Living in the Village was a little dream tucked away,” said Ms. Ephron, the author, most recently, of “The Lion Is In,” a novel. “I needed to be in L.A., so New York was on the back burner. You can’t get all your dreams at once.”

But by 1993 she, along with her husband, was back in the city, and by 2002 in the patch of the Village she coveted. Beguiled by slanted skylights that reminded her of old movies, she rented an apartment in a Ninth Street town house. Shortly thereafter, the trudging up and down stairs and the yearning for a doorman to accept packages having taken their toll, she bought an apartment in a doorman building not far away, this one without skylights, and she has been there ever since.

“I finally ended up living in the neighborhood I wanted and in the kind of building I wanted,” Ms. Ephron said. “Skylights were never part of my Village fantasy. I never liked living in houses.”

In the Village, people lust not only after particular corners but also individual buildings. Butterfield House, at 37 West 12th Street, one of the city’s stellar postwar apartment houses, is invariably high on the list. Its two wings are linked by a glass-walled passage that snakes through a landscaped courtyard, and large steel-framed bay windows punctuate its sinuous tawny brick facade. When completed in 1962, Butterfield House was described by The Real Estate Forum as “unique among all the city’s hundreds of new apartment structures.”

Adam Sheffer, 45, a partner in Cheim & Read art gallery, had obsessed about Butterfield House ever since moving to the Village in the late ’80s. Like his longtime partner, Richard Grossman, 50, an executive with Halstead, he is besotted with Modernism. “We both love Mies,” Mr. Sheffer said. “We take vacations to see rare Modernist buildings.”

Although the two didn’t start looking immediately, almost from the moment they met in 1994, they knew in their hearts that they would end up in Butterfield House. Last May, after years of checking out apartments there, they settled on a 2,000-square-foot space with an enclosed terrace and what Mr. Sheffer described as “extraordinary windows that accentuate the ceiling height.”

“The timing, the apartment, the seller — everything was right,” he said. “We knew it the moment we walked in. The place had an aura.” The couple went to contract five days later, and will move in after a yearlong renovation.

Their friends aren’t surprised, Mr. Sheffer said. “They say to us, ‘We always knew you’d both end up here.’ ”

Bob Bray, an interior designer, fell in love with an apartment the day he saw a beautiful window.

“I was living in the Dakota, and I was visiting a friend who lived in the Village,” Mr. Bray recalled. He happened to glance up at a building on East 10th Street near University Place that was being gutted and rebuilt. “Through the scaffolding,” he said, “I saw a window on the corner that was surrounded by a yard of palazzo balustrade.” Marching inside, he found the rental agent, coaxed him onto the street and pointed up. “I want that apartment,” he announced.

For nearly three decades, Mr. Bray lived in that space, a top-floor studio framed by three windows, two of them enormous. The limestone balustrade that entranced him nearly 30 years ago overlooks an iconic Village streetscape.

“It’s just a studio, but I never tired of the light or the air,” said Mr. Bray, who just turned 70 and retired six years ago after a half-century career. “I never had regrets.”

Now, however, he’s moving to Florida, to a co-op near Bal Harbour. “I’ve done it,” he said. “I’m going to Florida, and I’m going to buy a dog.”

The tug of a location can announce itself in mysterious fashion, as it did for Allison Chawla, a social-work student. Ms. Chawla, 35, had never felt any particular pull toward Brooklyn Heights. But when she and her husband began apartment-hunting in the neighborhood earlier this year, signs for Remsen Street caught her up short.

Ms. Chawla is a descendant of the Remsens, a family that dates back to Rem Jansen Vanderbeek, one of New York’s earliest Dutch settlers. Photographs of gravestones of Remsen ancestors hung in the house in New Jersey where Ms. Chawla grew up. She has lived in Los Angeles, on the Upper West Side and most recently in Dumbo. Yet having just bought an apartment on Henry Street makes her feel eerily close to her forebears.

“I’d forgotten about the significance of all those Remsen ancestors until I was walking around Brooklyn Heights and saw the street signs,” Ms. Chawla said. Nor had her forebears played a role in the couple’s decision to sink roots in the neighborhood; their goal had been proximity to good schools and convenient subways.

“I can’t honestly say that I’ve always wanted to live in Brooklyn Heights,” she said. “But just being in the area reawakened feelings; I felt more emotional than I thought I would, more connected. I imagine my ancestors walking around on these streets, and I wonder, ‘Do I look like any of them?’ ”

By CONSTANCE ROSENBLUM

Taken from: http://www.nytimes.com/2012/12/09/realestate/dream-home-the-come-true-edition.html

Partner Links:
1.Ugg Boots Uk
Ugg boots uk online store,the newest style and best service you can get! Free & fast delivery without any sale tax, enjoy shopping now!
2.Cheap North Face Online - Find The Latest Styles!
Cheap north face outerwear at cheap-north-face-jacket. Com. Find the latest styles your favorite cheap north face jackets. Fast shipping!
3.Canada Goose Jacket
New arrivals of canada goose jacket on our online shop sell. Comfortable canada goose jacket toronto at great discount now!
4.Canada Goose Parka
Buy cheap canada goose parka at great prices. Visit toronto canada goose online store - we provide top quality outstanding outdoor clothing.
5.Coach Outlet 2012 Store,cheap And New Coach Outlets
I don’t know that the seasoned coach outlet lovers will care for this line, but the younger generation will love it. I put together a grouping of some of the coach poppy handbags in the new line to give you an idea of what they look like.
Enhanced by Zemanta

Saturday, November 10, 2012

Underwater Homeowners Can Get Relief, But New Program Has Some Drawbacks


Although there are still some snares and drawbacks for participants, one of the federal government’s most important financial relief efforts for underwater homeowners started operation on Nov. 1.

It’s a new short-sale program that targets the walking wounded among borrowers emerging from the housing downturn: owners who owe far more on their mortgages than their current home value but have stuck it out for years, resisted the temptation to strategically default and never fell seriously behind on their monthly payments.

Industry estimates put the number of underwater owners across the country at just under 11 million, representing 22 percent of all homes with a mortgage. Of these, approximately 4.6 million have loans that are owned or securitized by Fannie Mae or Freddie Mac. Eighty percent of these Fannie-Freddie borrowers, in turn, are current on their mortgage payments and meet the baseline eligibility test for the new short-sale effort.

Industry estimates put the number of underwater owners across the country - LOS ANGELES, CA - Federal Housing Finance Agency
  (Image credit: Getty Images via @daylife)
Here’s how the program works.

Traditionally, short sales — where the lender agrees to accept less than the full amount owed and the house is sold to a new purchaser at a discounted price — are associated with extended periods of delinquency by the original owner. The new Fannie-Freddie program, designed by the companies’ overseer, the Federal Housing Finance Agency, breaks with tradition by allowing short sales for owners who are current on their payments but are encountering a hardship that could force them into default.

Say you are deeply underwater on your mortgage and recently lost your job or had your work hours reduced. Under the new program, you can contact your mortgage servicer and ask to participate in a Fannie-Freddie short sale for non-delinquent borrowers.You’ll need to find a qualified buyer for the house, typically with the help of a real estate broker or agent knowledgeable about short sales who will list the property and obtain an offer and communicate the details and documentation to the servicer. If the proposed short-sale package is acceptable, the deal would then proceed to closing weeks (or months) later.

Eligible hardships under the new program run the gamut: job loss or reduction in income; divorce or separation; death of a borrower or another wage earner who helps pay the mortgage; serious illness or disability; employment transfer of 50 miles or greater; natural or man-made disaster; a sudden increase in housing expenses beyond the borrower’s control; a business failure; and a you-name-it category called “other,” meaning a serious financial issue that isn’t one of the above.

Borrowers who take part in the new program can expect to rid themselves of the money-devouring albatross their mortgage has become without going through the nightmares of foreclosure or bankruptcy and to get a chance to start anew, better equipped to deal with the financial hardship that caused them to sell their house.

What about the snares in the program? There are several that participants need to consider.

●Credit score impacts. Although officials at the Federal Housing Finance Agency are working on possible solutions with the credit industry, at the moment it appears that borrowers who use the new program may be hit with significant penalties on their FICO credit scores: 150 points or more. This is because under current credit-industry practices, short sales are lumped in with foreclosures. According to Laura Arce, a senior policy analyst at the agency, the government is in discussions with the credit industry to institute “a special comment code” that would treat participants more fairly on FICO scores.

●Promissory notes and other “contributions.” In states were lenders can seek repayment of a loan balance owed following a short sale, Fannie and Freddie expect borrowers who have assets to either make upfront cash contributions covering some of the balance or sign a promissory note. This would be in exchange for official “waivers” of the debt for credit reporting purposes, potentially causing less damage to a seller’s credit score for the sellers.

●Second-lien hurdles. The program sets a $6,000 limit on what holders of second liens — banks that have extended equity lines of credit or second mortgages on underwater properties — can collect out of the new short sales. Some banks, however, don’t consider this a sufficient amount and may threaten to torpedo sales if they can’t somehow extract more.

By Ken Harney

Ken Harney’s e-mail address is kenharney@earthlink.net.

Taken from: http://www.washingtonpost.com/realestate/underwater-homeowners-can-get-relief-but-new-program-has-some-drawbacks/2012/11/08/66cc85e2-277c-11e2-9972-71bf64ea091c_story.html

Enhanced by Zemanta

Wednesday, September 12, 2012

Internet Brings Transformation To Real Estate Industry

By the time a client contacts Paul Ryan about a house for sale, he or she has probably already researched the property online, knows what the house looks like, maybe has taken a virtual tour of the interior and even checked out the home valuations in the rest of the neighborhood.

Ryan, a real estate broker with RE/MAX Preferred Realty, estimates 80 percent or more of property-seekers these days “look online before they even talk to anyone or pick up the phone.”

“They make a decision what they want to see before ever meeting with us,” said Lisa Mord, broker-owner and chief executive of All-Star Realty. “Very, very seldom do I find someone that has not done some research online.”

From buying to selling, from homes to farmland auctions, the Internet has transformed how property changes hands.

Fifteen years ago the Internet was the initial source of information for 18 percent of people who bought a house, according to a report published in 1997 by the National Association of Realtors.

Property Link Estate Agents, Scotch Street, Armagh, County Armagh, Northern Ireland
(Photo credit: Wikipedia)
By 2011 this had grown to 88 percent — and for 35 percent of home buyers, the very first step in the process was to look at property listings online, according to the Realtors’ organization.

The depth and quantity of online information also has expanded dramatically. Want to know at a glance how much the property taxes cost for that new house you’re eyeing? Click online and find out. Does the attractive wooded area adjoining the back yard conceal a busy highway or a set of railroad tracks? Check it out on Google Earth.

Local Realtors say it has changed how they go about listing and showing properties, the breadth of services they are able to provide and even the technological skills they have had to learn.

Mord, for instance, is never without her cell phone. While vacationing out of state, she once received an offer for a property she had listed for sale. “I was able to upload it on my phone and send it to the seller who was in another state,” she said.

She used to tell clients how many phone calls she received about their property listing. These days “I tell them how many clicks I’ve gotten,” she said.

Ryan remembers when most listings were illustrated with a single photo, usually black and white.

Nowadays he goes into a home with a digital camera, takes multiple color photos and uses them to create a virtual tour.

Much of this change has happened only within the past decade.

“It’s amazing how quickly the Internet has become influential in our business and the extent to which it has become influential in our business,” said Doug Fenstra of Fenstra Real Estate. “Now we are using computers and scanning and Internet services to deliver purchase agreements and listing agreements and contractual agreements. … We just deliver a tremendous amount of information back and forth on the Internet. I’m on the computer literally more than I can believe anymore.”

A handful of times customers have bought land online without ever setting foot on the property, he said. “It’s actually happened.”

This isn’t the norm yet, however. In fact, if statistics are any indication, the vast majority of home buyers still rely on real estate agents to help them search for a home.

For most clients, it’s still important to work with an agent, Mord said. “You have to have somebody you can trust and ask questions.”

“You still have to meet across the table,” Fenstra agreed. “That’s where the real connection has to be made — by relationship.”

Although many feared the Internet would be detrimental to the industry, for the most part the opposite has happened, Ryan said. “Actually it’s made it a lot better. We’re a little bit faster and there’s a lot more information available.”

The wide reach of online listings has helped both buyers and sellers, Mord said. “It is a very effective way of getting the advertising out there.”

One of the biggest challenges for Realtors these days? It’s keeping up with the technological change and customer expectations so that they stay competitive.

“The issue is predicting what the next step will be,” Fenstra said. “If you’re not at least within two or three of those leapfrogs, you’re really dead in the water.”

By: Anne Polta, West Central Tribune

Taken from: http://www.wctrib.com/event/article/id/97837/
Enhanced by Zemanta

Friday, August 17, 2012

Understanding “Market Value” In Real Estate

Whenever I speak with a home seller, one of the first things they want to know is the market value of their home.

In order for them to understand how we arrive at the market value, I try to get them to think like a homebuyer.

There are more sellers than buyers in this market, so if you want to sell a home, you better understand exactly what your buyer is going to be doing and seeing when they make the buying decision.

The three mistakes to avoid when determining the market value of your home relate to the emotional posture of most sellers. They come up with reasons why they think their home has a certain value, but they do not consider that those reasons might not be as relevant to the prospective buyers of their home.

East India Dock Road entrance to the market and the Lansbury Estate, an early post-war iniative in social housing following the destruction of the area
(Photo credit: Wikipedia)
Price Versus Market Value

The first mistake that sellers make when determining the market value of their home is by looking at the asking prices of other homes. The price that a seller sets on a home is completely up to them. Nobody can stop you from asking any price you want when you sell a home, and most likely there is a real estate agent out there that will put it on the market for you.

If your neighbors are asking a price that they will never get, using their asking price to determine your market value is not going to work.

Cost Versus Market Value

Another mistake I often see is when seller’s want to use replacement cost to determine the market value of their home. While this certainly makes sense at first, you really need to stand in the shoes of your prospective homebuyer. If another home (similar to yours) can be purchased for less money, why would cost matter to the buyer?

We are in a market where foreclosures and shorts sales are streaming into the market at a high rate, and the abundance of supply means that values are going to continue to decline. Replacement cost simply is not going to be a factor for many more years, and if you rely upon it as a seller, don’t expect to be moving any time soon.

Value Versus Market Value

There is a absolute top price that somebody might pay for your home, and we call that its value. But considering the plethora of homes for sale in Tallahassee, it is highly risky putting your home on the market at this highest value. Why? Because home values are declining. If you don’t sell your home in the first few months, then you have to lower your asking price to a point even lower than what you could have received when you first entered the market.

Market Value

Market value is an amount that attracts multiple buyers to your home. I like to get sellers to understand that real estate is always a sellers market, because it is the seller that determines where a home will be positioned in the market. If you want to know the market value of your home, just drop me a note and we can schedule a time to discuss the different price points that you could consider if you choose to sell your home.

Taken from: http://blogs.tallahassee.com/community/2012/08/17/understanding-market-value-in-real-estate/
Partner Links:
1.Pool Companies Katy
Katy pool service specializes in keeping your pool sparkling and clean. Get rid of algae and cloudy once and for all with a katy pool service maintenance plan. Choose varying levels of service to best meet your pool cleaning needs.
2.Gucci Outlet
Best gucci outlet online dealer,supplying gucci outlet with high quality,competitive price and free shipping. Save 40-65% off.
3.Michael Kors Outlet Shop, Cheap Michael Kors Bags Online Sale.
Original michael kors online shop - michael kors outlet store, cheap michael kors with high quality online sale.
4.Karen Millen Outlet
Well i heard about this swanky place from some of my closest friends who suggest that i should shop here. Well i went to this place to pick out an outfit that i wanted and this place is filled with beautiful outfit's ,lovely jewelry, and nice access

Enhanced by Zemanta

Sunday, July 29, 2012

One Of The Most Important Skills For Real Estate Agents In Today's Market (Video)

http://www.GregVincent.com.au On Today's Electric Avenue Show - Greg Vincent shares One Of The Most Important Skills For Real Estate Agents In Today's Market?

Property Directions, Estate Agents, Main Street, Castlewellan, County Down, Northern Ireland
English: Property Directions, Estate Agents, Main Street, Castlewellan, County Down, Northern Ireland (Photo credit: Wikipedia)
Nowadays, there are so many different marketing tools that agents can use to promote a property out to the market like Video Tours, Floor Plans, Copywriting, Feature Properties, Individual Property Websites, Print Media, Facebook Ads, etc, etc that to market a property effectively and use any or all of these tools then there needs to be some Marketing Investment (VPA - Vendor Paid Advertising) made by the seller when launching the property to the marketplace...and being able to secure that investment upfront and for the right tools that maximise the price is now a very important skill.



To watch more episodes, visit http://www.GregVincent.com.au/electricavenue
Taken from: http://www.youtube.com/watch?v=MYHPHL8t6RY
Enhanced by Zemanta

Ridwan RReyza On Facebook