A little-known tool that I use to keep updated on national and Brooklyn real estate news is Google Alerts. It’s a handy tool. A few days ago, Google Alerts sent me a list of online links, along with one talking about an individual being indicted for real estate fraud. Today, I received another Alert with a link to real estate fraud. Unfortunately, it turned out to be another case, rather than the same one.

I love being a  Brooklyn real estate represenative. I enjoy being able to help home sellers find buyers, and buyers find their dream homes. With all those trying to sell homes, buy homes or keep the homes they have, I get angry when I see reports of fraud like these:

• On June 18, 2010, Sacramento Today reported that two individuals were arrested for six counts of real estate fraud, pretending to be licensed with the Department of Real Estate.

• On July 8, 2010, Fraud News reported that three individuals in New York were found guilty of real estate fraud to the tune of $23 million.

It’s become enough of a major issue, in fact, that the IRS has created a page on their website specifically for information on real estate and mortgage fraud.

Your home is too precious to risk with these con-artists. Don’t take a chance on giving away your savings or your house. The following tips, while few in number, can help ensure that the home you buy is a home you get to keep:

Tip #1: Research potential real estate agents or agency.

Don’t just ask about their credentials, because credentials can be faked. Ask for their client lists. Contact those clients personally to discuss their experiences with the real estate agents. When you do look at their credentials, take it one step further and check with their real estate boards. Are they actually members? Interview them and gather as much information as you can before hiring anyone to sell or find you a home.

Tip #2: Verify details with your lender.

Many agents do the paperwork for you. In fact, it’s one of the big selling points of having an agent. However, an unscrupulous person may provide your lender with a fraudulent amount for the selling price. Before signing any deal, check with your lender and verify the details. Talk with them face to face, if possible, rather than on the phone.  Read everything before signing.

Tip #3: Never use an agent who will “fudge the facts.”

Some agents may be willing to adjust your qualifications to help you get a loan. While this might sound like a great deal if you have a bad credit history, consider this: if an agent is willing to adjust this part, what else are they willing to adjust that they may not tell you about?

While owning Brooklyn real estate can be a dream come true, not doing your homework can turn it into a nightmare. Be careful and, if you suspect fraud, report it!

If you’re trying to sell or buy a home and want a reputable agent, I’d like to apply for the job. Call me at (718) 253-9600 ext 206 or email me at charlesdalessandro@fillmore.com to schedule an interview.

Charles D’Alessandro

charlesdalessandro@fillmore.com
tel 718 253-9600
fax 718 253-9573

Brooklyn Real Estate Blog 4 Reasons to List Your FSBO with a Brooklyn Real Estate Agent

Going it alone and listing your home as for sale by owner can be exciting at first, but there is a turning point where the prospect of losing money makes it necessary to bring in help. Here are four reasons to change your plan and list your home with a Brooklyn real estate agent in order to facilitate a sale.

1. 1. Speed: If your property has been languishing on the market for more than three months, it is no longer fresh. People will avoid it simply because it hasn’t sold. A Brooklyn real estate agent can give your home wider exposure and get traffic moving through it again.
2. 2. Knowledge: Fresh eyes on a project are helpful in any business endeavor. You can be too close to your home. You love it and see it in a positive light that can often overlook minor items that will kill a sale. Your Brooklyn real estate agent can help you see the problems you didn’t even know existed.
3. 3. National Exposure: As a FSBO (for sale by owner) seller, you are not able to list your home on the official MLS (multiple listing service). That exposure alone can get much faster responses and sales. Additionally, a professional real estate agent markets your home on multiple websites which gives your home a virtual Open House 24 hours a day, 7 days a week.
4. 4. An Earthly Advantage: Many FSBOs price their homes way over market for two reasons.  First, they love their home and see certain aspects of their home as more valuable than they really are.  Second, they don’t have extensive knowledge of the real estate market nor do they have the ability to do accurate home price comparisons. You ‘might’ know what your neighbor’s house sold for 5 years ago, but do you know what it is worth now?  And even more importantly, do you know exactly how comparable your house is to that one? A professional real estate agent has access to all that information.

If you would like to know more about how a professional real estate agent can help you sell yourBrooklyn home, I can help.  Give  Charles D’Alessandro of Fillmore Real Estate a call today at 9718) 253-9600 EXT.206 or email me at charlesdalessandro@fillmore.com for more information.

Charles D’Alessandro

charlesdalessandro@fillmore.com
tel 718 253-9600
fax 718 253-9573

Brooklyn Real Estate Blog The FSBO Mindset: Successful Ways to Sell Your Brooklyn Real Estate

Although the economy has been a catalyst for many issues, some of the trickle-down effects have had positive effects on Brooklyn homes. One of the most notable is that families are drawing closer together.

Over the past thirty to forty years, the “steps” to take for growing up were always one, grow up and two, move out. Few parents ever considered that their now adult children might be moving back in to their quiet, empty Brooklyn homes. However, with the economic problems hitting millions of Americans, the number of multi-generational households is growing.

During the Great Recession and more specifically in 1940, approximately 25% of households were multi-generational. Homes often held children, grandchildren, and sometimes even great grandchildren – four familial generations. However, as the U.S. economy began to prosper and the baby boomer generation grew into adults, more homes became single family households. By 1980, only 12.1% of homes held more than one generation.

Now, the percentages are once again beginning to climb. Loss of jobs, foreclosed homes and lack of security has contributed to approximately 49 million Americans, or 16.1%, living in multi-generational homes. While this is far from ideal for those in a hurry to leave the nest, the benefits are many.

I once asked a single mother what it was like moving back in with her parents.  She said, “It was hard at first, redefining the boundaries, but having my parents around has been a blessing in disguise. My kids have a stabilizing influence and extra attention, while I get occasional breaks that I normally wouldn’t get. We eat dinner together too, which helps build the family atmosphere for my kids. It’s not all smiles and roses, there’s a lot of compromise, but it works.”

For those who have been thinking about letting your family move in to your Brooklyn home, try to consider more than just the negatives. Look at the positives as well.  And what could be more positive than closer family ties?

Whether you need to upgrade to a bigger family home or downgrade to a smaller one, I can help. Call Charles D’Alessandro of Fillmore Real Estate at (718) 253-9600 ext.206 or email me at charlesdalessandro@fillmore.com for more information.

Charles D’Alessandro

charlesdalessandro@fillmore.com
tel 718 253-9600
fax 718 253-9573

According to RealtyTrac, 1 in 70 homes have received foreclosures notices since January, 2010 – a total of 1.7 million houses in the U.S. Was your Brooklyn home one of them? In previous blogs, we’ve covered several ways to avoid foreclosure, but a rising trend has brought another possibility to the forefront.

According to a recent Pew Research Center study, many individuals are surviving the economic blues by expanding their households. By the end of 2008, more than 16%, or 49 million, of Americans lived in a household with more than one generation. Although the statistics aren’t back yet for 2009 -2010, experts expect the numbers to be even higher.

These Americans aren’t all young college graduates moving back in with mom and dad, either. Parents have moved in with children, children with parents – somehow, even siblings have managed to live together in relative harmony. This trend spans across the board from single parents to elderly grandparents. According to the report, approximately one in five adults ages 25 to 34 and 65 + live in a multi-generational home.

Are you suggesting I let family members move in?

Actually, yes I am. Now, depending on your family dynamics, I realize this might be the equivalent of inviting World War III to your doorstep. However, if you face losing your Brooklyn home to foreclosure, you might at least stop to consider the possibilities. For instance:

• More working people in the household means more ability to pay the mortgage and stop the foreclosure.
• With more family members, you have a stronger family influence on children living in the home.
• With more people, responsibility is shared more.  You won’t need to do everything on your own.

No, it’s not an ideal situation. However, if you’ve said, “I’d do anything to keep my home,” did you mean it? Does the definition of “anything” include family World War III? Could you sit down with your family members, work out a set of compromises and live in harmony? If you’ve tried everything else, this may be your best bet for avoiding foreclosure on your Brooklyn home.

You never know; you may even come to like it.

If you’re looking for a home to support a multi-generational household, I can help. Call me at (718)253-9600 ext.206 or email me at charlesdalessandro@fillmore.com for more information.

Charles D’Alessandro

charlesdalessandro@fillmore.com
tel 718 253-9600
fax 718 253-9573

Brooklyn Real Estate Blog Downsizing Your Demands for a Home for Sale in Brooklyn

When you look for a mortgage, you want to find one that allows you to buy the biggest house possible for a monthly payment you can afford. This seems simple enough. All you need to do is a little division to determine your monthly payment.

Unfortunately, this isn’t the entire picture of your monthly mortgage payment, and lenders don’t always explain this to you. Here are three things you need to know about your monthly mortgage payment for your new Brooklyn home:

1. Interest and Principal. Only part of your monthly mortgage payment actually pays down your loan. A portion of your mortgage payment goes toward your loan principal and part of it pays the interest. The longer you have your loan, the more money goes toward your principal. Be aware that at the beginning of your loan term, most of your payment goes toward interest and does little to reduce the amount of money you owe on your home.
2. Homeowner’s Insurance and PMI. Typically, your lender collects money to pay your homeowner’s insurance premium. This increases the amount of your monthly payment and can change if your insurance company raises or lowers premiums. Depending on your loan amount and property value, you may also have to pay private mortgage insurance (PMI) which protects a lender against loss if you default on your loan.
3. Property Taxes. In most cases, your annual property taxes will be paid through your lender. The lender collects extra money each month that they pay to your local government at the end of the year. When local taxes increase or decrease, so does your payment.

Call me today at (718) 253-9600 ext.206 or email me at charlesdalessabdro@fillmore.com to help you find the home (and mortgage provider) of your dreams.

Charles D’Alessandro

charlesdalessandro@fillmore.com
tel 718 253-9600
fax 718 253-9573

Brooklyn Real Estate Blog 10 Things to Do While Waiting for Your Brooklyn Home to Sell

— @ WiseStamp Signature. Get it now

If you’re a homeowner who is unable to refinance to a lower interest rate because your Brooklyn home’s value has decreased, there’s hope.

If you have questions about HARP or any other questions about Brooklyn homes, please give me, Charles D’Alessandro of Fillmore Real Estate a call today at (718)253-9600 ext.206 or email me at charlesdalessandro@fillmore.com.

Charles D’Alessandro

charlesdalessandro@fillmore.com
tel 718 253-9600
fax 718 253-9573

Brooklyn Real Estate Blog 10 Things to Do While Waiting for Your Brooklyn Home to Sell

For homeowners getting ready to put their Brooklyn homes on the market, here are a few stunningly-easy tips to help get your home sold faster and maybe even for more money.

Keep in mind that your prospective buyers will most likely be viewing several Brooklyn homes on the same day as your showing. The emotional elements you include will have a profound impact on their memory, and will make your home standout when they review what they’ve seen with their agents at day’s end.

Preparing your home for the perfect showing is essential and comprises three basic elements that will make your home sparkle.

Atmosphere

• Soft classical music
• Simmering potpourri
• Bake an apple pie in the oven.  Or, if you have a bread machine, bake bread.
• Well-lit rooms and inviting indirect lighting
• Air conditioning or heating set at a comfortable temperature

Decorations

• Garden-fresh bouquet of flowers near the entrance or on the kitchen table
• Fresh neutral-colored paint and cleaned or new carpet
• Remove family photos or personal items (allows buyer to imagine it is their home)

Cleanliness

• Meticulously spotless kitchen and bath
• Walls washed and spackled as needed
• No clutter whatsoever (uncluttered rooms look larger)
• No pets – kennel them if needed (buyer may be allergic)
• Clean closets (yes, people peek in your closets)

Remember it’s the little things in life that matter, and the same is absolutely true when it comes to a buyer looking for a place to call home-sweet-home.

For more ideas on how to sell fast and make the most from the sale of your Brooklyn home, call me today at (718) 253-9600 ext.206 or email me at charlesdalessandro@fillmore.com

Charles D’Alessandro

charlesdalessandro@fillmore.com
tel 718 253-9600
fax 718 253-9573

Brooklyn Real Estate Blog Brooklyn Real Estate Seller Strategies 101: Common Sense Curb Appeal

As I’m sure you know, the real estate industry is in a down market, and the last thing you want to do is pay commission to a Brooklyn real estate agent. Not to mention that you’re almost positive you can sell your home just fine on your own. Before sticking a “For Sale by Owner” sign up, however, make sure you’re ready for the work and headaches.

• Time. Yes, you can sell your Brooklyn real estate on your own without the help of an agent, but it takes a lot of preparation and time. How much is your time worth and how much time do you have? Before you step out on your own, make sure you can afford the time and energy investment.

• Extra services for better value. You’ll lose out on a wide variety of services offered by real estate agents.  For example, many agents now provide home staging services as well as extensive advertising and marketing services both online and off.

• Dealing with the legalities. Selling a home involves contracts, closings and a multitude of legal issues that can make or break a sale. Real estate transactions have occasionally led to outcomes that were unexpected, including lawsuits. A professional helps ensure that the contracts are legally sound and binding.

• Knowing the market. Real estate agents have instant access to current market information. We can find an accurate selling range within minutes. Since the real estate market constantly fluctuates, it’s important to know what area homes sell for before pricing your own. Otherwise, your risk underselling or overpricing your home.

These are just a few points. You also need exposure to buyers, experience with legal contracts and excellent negotiating skills.  Can you sell your own Brooklyn real estate? Yes, but can you really afford to?

If you’re trying to sell your home and need professional expertise, I can help. Call me at (718)253-9600 ext 206 or email me at CharlesDAlessandro@fillmore.com for more information.

Charles D’Alessandro

charlesdalessandro@fillmore.com
tel 718 253-9600
fax 718 253-9573

Brooklyn Real Estate Blog Need Extra Time to Finalize Your Brooklyn Home Purchase to Qualify for Tax Credits?

— @ WiseStamp Signature. Get it now

On June 16, the Senate approved a plan to give home buyers an extra three months to finish qualifying for federal tax incentives.  If the plan passes, it means you’ll have until September 30, 2010, to close on your Brooklyn home and qualify for tax credits of up to $8,000.  (First-time buyers were eligible for a tax credit of up to $8,000. Current owners who bought and moved into another home could qualify for a credit of up to $6,500.)

Who Qualifies?

Originally, you had to sign a contract to purchase a home by April 30, 2010, and close no later than June 30, 2010.  With this extension, anyone who had a signed purchase agreement by April 30 would have until September 30 to close on the sale of that home.

Why the Extension?

Mortgage lenders have been swamped with borrowers trying to get their Brooklyn home purchases approved by June 30.  Many potential borrowers are having difficulty meeting that deadline.

The National Association of REALTORS® (NAR) estimates that 180,000 buyers are likely to miss the June 30 deadline “because of delays in the process.” That’s particularly true of short sales, the NAR noted.

Is it Approved?

Unfortunately, an extension of the deadline for the federal homebuyer tax credit remains tied to Senate legislation that would extend unemployment benefits, complicating efforts to get the deadline extended before the expiration date of June 30.

But don’t give up hope.  If lawmakers extend the deadline after June 30, the language in both the House and Senate bills will apply retroactively.

Have questions about the federal tax credits?  Or any other questions about Brooklyn homes?  Give me a call today at (718)253-9600 ext.206 or email me at charlesdalessandro@fillmore.com  I’ll respond promptly and personally.

Charles D’Alessandro

charlesdalessandro@fillmore.com
tel 718 253-9600
fax 718 253-9573

Brooklyn Real Estate Blog Brooklyn Realtor Charles D’Alessandro of Fillmore Real Estate Presents

It’s open season on homes for sale in Brooklyn, and no hunting license is needed. You might want to wear bright orange jackets if you’re a seller, though. It’s a buyer’s market and, in this case, you want the house hunters to see you.

Now, you can only take the hunting analogy so far; I don’t think you’d appreciate being hung on a wall as a trophy. You will appreciate hunters setting their sights on homes for sale in Booklyn, however. Here are a few tips to ensure that your home is the one they target:

Stand out in the open

To put it simply, buyers are using more and more technology nowadays. Obviously, you, as the seller, want to be where the buyers are, right? Embrace the Internet. Twitter, Facebook, blogging and other forms of social media are some of the ways successful sellers have managed to garner attention. So, start networking online, or hire an internet savvy real estate agent to do it for you.

Use an agent

This may sound self-serving; I am, after all, a real estate agent. However, while you may be trying to figure out whether you really want to pay commission fees, also consider this. Agents have access to many places that do it yourself sellers don’t, such as MSN Real Estate, Yahoo Real Estate, their MLS listings and Realtor.com. Buyers do have access, and they’re looking. As the seller, you want as much exposure as possible, and agents can get it for you.

Make affordable repairs

If you can afford to replace a worn out faucet, do so. If you can replace bad flooring, do it. Whether it’s plumbing issues or light switches, big or small, make the repairs you can afford to make. Then, and here’s the secret, advertise:  “All new fixtures!” or “Brand new flooring!” Sharing what you’ve done to make the house more attractive is like waving a red flag and, when you’re talking about house hunting, this is a good thing.

Add field dressing

Okay, perhaps that goes a little far with the hunting analogy. Basically, in a tough buyer’s market, presentation is everything. Have strong curb appeal outside. Get rid of personal clutter inside. Stage the rooms and clean, clean, clean. It’s a beauty contest.  Dress your home accordingly.

Putting these tips into action will greatly raise the chances of taking another home off the list of homes for sale in Brooklyn.

If you’re trying to sell your home and need an internet savvy agent, I can help. Call me at (718) 253-9600 ext.206 or email me at charlesdalessandro@fillmore.com for more information.

Charles D’Alessandro

charlesdalessandro@fillmore.com
tel 718 253-9600
fax 718 253-9573

Brooklyn Real Estate Blog Reports Say, “Yes, You Can Buy a Brooklyn Home for Sale!”

— @ WiseStamp Signature. Get it now