Archive for December, 2019

What are the Best New Year’s Resolutions for Homeowners?

Monday, December 30th, 2019
New Year's resolutions

As a Brooklyn homeowner, make New Year’s resolutions that save you money this year.

The start of a new year is the most popular time to make New Year’s resolutions. Do you make them? And what do resolutions have to do with homeownership?

What are New Year’s Resolutions?

First, let’s understand what New Year’s resolutions are.

They’re promises you make to yourself to better yourself in the new year. And depending on the kind of promise you make to yourself, they are quite often broken within the first three months of the new year.

Back in 2012, Time.com listed the Top 10 Commonly Broken New Year’s Resolutions. But according to TheHealthy.com, resolutions made today are still very much the same as they were back then.

Homeowners, Add These to Your List

The resolutions listed above are great for everybody to resolve to do. But if you’re a homeowner, you should add the following to your list.

Why? Because these save homeowners money. And they make the selling or buying process easier when the time to do so comes.

  1. Shorten the term of your mortgage

Put extra money toward your mortgage every month. The more you pay in a shorter period of time, the less you pay in the long run.

For example, let’s say you have a $150,000 mortgage with a 30-year term at an interest rate of 5.5 percent. Your monthly mortgage payment (principal and interest) would be $852. Paying just an additional $71 each month would shorten that 30-year term by five years and one month. It would also cut the interest down by $30,789.

That’s amazing! Right?

  1. Pay off a second mortgage

Pay off a second mortgage. Freedom from debt and interest is one of the greatest resolutions to keep. It takes a lot of discipline, but this is a challenge well worth the effort.

Choose to put an extra $100, $200 or $400 toward your home equity loan every month versus spending it on something else. The more consistent and disciplined you are to pay off a second mortgage, the better off you are.

If your second loan has a variable rate, it’s quite possible you could get socked with a painful payment increase if interest rates rise. And what if you’re not in a position to refinance that debt when that happens? Uh-oh or ouch!

  1. Lock in a low, fixed rate

There are a couple of great reasons to refinance your home loan:

If the only thing you do in the new year is change a variable mortgage into a fixed mortgage, you’ve done yourself a huge favor financially. (Go back and read that last paragraph in resolution number 2). Even if you end up with a higher payment, a fixed rate will save you from an increase in your interest rate in the future.

Take a look at this scenario.

On a $200,000 mortgage with a 30-year term and a variable rate starting at 3.5 percent, your monthly principal and interest add up to $898. If you refinanced that loan with a fixed rate of 5 percent, your monthly principal and interest add up to $1,073, an additional $175 a month.

But what if the variable rate jumped way up to 7.5 percent? Your monthly principal and interest would now add up to $1,389 which is an additional $491 per month.

You can see the benefit of locking in the extra $175 in 2020, right?

It might be difficult, but paying an extra $491 in the future could be harder to accomplish than an extra $175 each month.

  1. Challenge your property tax assessment

Has your home declined in value in recent years? If you answered, “Yes,” you might be able to save some money in 2020. Challenge your property tax assessment.

Review your property tax and request a hearing date within the required time if the assessed value is excessive. I will help you with comparable sales data for an appeal.

If your property values drop by 40 percent, your taxes should drop by 40 percent, too. The savings can be substantial, about $1,500 a year on average.

  1. Earn a discount or lower quote on homeowners insurance

Major repairs or improvements that you made to your home this past year can earn you a discount or a lower quote on the new year’s coverage.

A new roof, updated electrical and plumbing, for examples, are preventive home maintenance which save you money. Insurers appreciate the money home maintenance saves you; therefore, they are usually willing to give you a discount or lower quote on your homeowners insurance.

Call your agent today and update your file with them. Find out whether or not you qualify for a discount or lower quote on your homeowners insurance policy. You’ll be very glad you did!

  1. Take steps to improve your credit rating

Pay off debts and pay your bills on time. It strengthens your credit score. The higher your credit score, the more likely lenders are to lend you money at a lower interest rate and on more attractive terms.

Did you miss a few mortgage payments this year? Resolve to get and stay current as soon as possible.

Poor credit is not a forever thing. And the longer you remain current and on time with your bills after being late, the more your FICO score will improve. Lenders pay attention to current behavior. Older credit problems count for less with lenders.

Now You’re Ready to Save Money in 2020

New Year’s resolutions are great to make, especially when keeping them saves you money as a homeowner.

Contact me, Charles D’Alessandroyour Brooklyn Real Estate Agent with Fillmore Real Estate with any questions you have about how to save money as a homeowner. Call (718) 253-9600 ext. 206 or email [email protected] today.


Charles D’Alessandro
Your Brooklyn Real Estate Agent
718-253-9600 ext. 206

Where is the Place to Be for the Best Christmas Lights Now?

Sunday, December 15th, 2019
Best Christmas lights
The best place to be for the best Christmas lights in Brooklyn is Dyker Heights!

Manhattan is known for its enormously large Christmas tree, nostalgic ice skating rink, and giant decorations at the Rockefeller Center. And Saks Fifth Avenue is a big hit every year with the light show displayed on its façade. But Brooklyn lays claim to the massive, professionally-decorated Christmas light displays of Dyker Heights since the 1980s. So, if you’re into quaint and cozy Christmas experiences with fewer tourists, visit Dyker Heights, Brooklyn. It is THE place to be for the best Christmas lights!

Ways to Tour Dyker Heights, Brooklyn for the Best Christmas Lights

Some of the best sights for Christmas lights are in Dyker Heights, Brooklyn. And this year you can feast your eyes on Christmas light displays costing upwards of $20,000.

If you choose to navigate this Winter Wonderland on your own, visit freetoursbyfoot.com first. They tell you where the best lights are and how to arrive in the neighborhood. And they created a Google Map to help you navigate Dyker Heights, too. The map comes complete with a list of notable homes to gaze upon. So don’t forget to take your smartphone with you! It will help you tour Dyker Heights and enjoy your DIY tour to the fullest.

Freetoursbyfoot.com also offers guided walking tours and two well-reviewed bus tours. Your tour guides show you all the important light displays and share the history behind each one.

The guided walking tours cost $19/person and require reservations. Book your reservations and get all the details for guided walking tours here.

Bus tours always sell out early. So if this sounds like the way you want to tour Brooklyn’s best Christmas light displays, book your tour here asap! Heads up. The rates are $55.00 to $65.00 for adults. Children under 12 are $45.00 – $55.00.

When to Tour Dyker Heights, Brooklyn

The best displays are on the weekends between 5 and 9pm. Dyker Heights lights start the weekend after Thanksgiving, but most of their displays are up and running by mid-December.

Helpful Tips to Make Your Dyker Heights Christmas Lights Tour Great!

  • Dyker Heights is a real neighborhood with real homeowners. Screaming, littering, ringing doorbells, and asking to use the bathroom are not permitted.
  • Many of the homeowners in Dyker Heights collect money for local charities. So bring $1 and $5 bills to contribute. Oh, and be on the lookout for hot cocoa stands to spend those dollar bills on as well.
  • Look for Santa at the Spata house and the 29-foot motorized wooden soldiers at the Polizzotto house. These two families were among the first to begin the Dyker Heights Christmas lights and decorations tradition in the 1980s. Yeah, they’re kinda special.
  • Be prepared to walk a lot. Wear your comfy shoes. Even if you are taking a guided bus tour, there are 15 to 20-minute walks you just can’t avoid without an Uber.
  • Since you’ll be out in the chilly air for a while, we recommend you dress warmly! Plan on buying hot drinks or bringing something hot to drink in a thermos, too.
  • You might want to take us up on another recommendation. Since the best time to tour the best Christmas lights in Brooklyn is from 5 to 9pm, why not stop at a local restaurant on 3rd, 4th, or 5th Street for a bite to eat?

There’s Something Extra-special About Christmas in New York

Enjoying the best Christmas lights in Brooklyn is a must-see, but it isn’t the only Christmas activity to experience this year. Freetoursbyfoot.com published this post as a guide to things to do in NYC during Christmas. They’ve listed markets, Christmas trees, tours, and shows for you to check out.

Yes, Dyker Heights in Brooklyn is truly a “must-see” for the best Christmas lights during the holidays. But quite simply there’s just something extra-special about spending Christmas in New York City.

Come visit the Big Apple during the holidays and enjoy one of the best Christmas lights displays in America.

Merry Christmas from Charles D’Alessandroyour Brooklyn Real Estate Agent with Fillmore Real Estate!

For all your real estate needs, contact Charles at (718) 253-9600 ext. 206 or email him at [email protected]


Charles D’Alessandro
Your Brooklyn Real Estate Agent
718-253-9600 ext. 206