Within the walls of your house, you’ve probably raised a family, made future plans and created years of memories. Take time this month to be thankful for everything your Brooklyn home has given you if you just Show Your Brooklyn Home Some TLC this Thanksgiving .

With Christmas right around the corner, I know it’s hard to justify spending a lot of money on your Brooklyn home. Below are a few easy and affordable green projects for you to do this Thanksgiving holiday — and they’ll start paying off immediately!

Buy compact florescent light bulbs. You don’t have to do this all at once. As your light bulbs burn out, replace them with these energy savers for around $3 a piece. They last about ten times longer than incandescent light bulbs and can save you close to $40 over their lifetime.

• Use faucet aerators. These only cost about $10 and are incredibly easy to install. Just unscrew your faucet nozzle or showerhead and slip the aerator in. It can cut your water bill in half by making the water squeeze through tiny holes, which makes it feel like there is more pressure. You’ll also reduce water heating bills because the less hot water you use, the less you’ll have to heat.
• Put in ceiling fans. If you don’t have these in your house, then you’re missing out on a huge energy-saver. Starting around $50, ceiling fans push hot air down and help equalize each room’s temperature — just switch the blade rotation for summer and pull cool air up.
• Replace your old toilet. Older toilets can dispense almost 3.5 gallons per flush, while modern low-flow toilets dispense as little as 1 gallon. If you’re in for more of a handyman challenge, you can purchase these for as low as $150. The more people you have in your house, the more savings you’ll see.

Not only will your Brooklyn home and finances thank you for the green upgrades, but the environment will too.

If you’d like more green ideas you can implement this Thanksgiving break, please call me at (718) 253-9600 ext 206 or email me at [email protected].

Does Your Brooklyn Home Have Curb Appeal?

As a seller preparing to sell your Brooklyn home, you may be busily emptying closets and painting walls, but don’t forget about the outside of your house. Home buying is emotional and, like many emotional reactions, it can be heavily impacted by first impressions.

Here are some suggestions on how to encourage love at first sight by increasing the curb appeal of your Brooklyn home:

Tidy up – You may be so used to seeing the crumbling stack of firewood by the garbage cans and the old paint cans by the shed that they fade into the landscape, but potential homeowners see the mess.  As you look at the outside of your house, think about what you can throw away or put out of sight. The broken swing on the tree actually takes away from the grandeur of that old oak.  An extra hint: Not everyone will enjoy the garden gnome collection as much as you do.

• Trim Everything – If the hedges under the front windows of your Brooklyn home are so unruly that they cover the windows, it’s past time to find the clippers.
• Repair the Front Walk – If you have crumbling cement or stepping stones that slide deeper into the mud with every raindrop, check into updating the front walk so that it is inviting, safe, and weed-free.
• Power-wash decks so they look fresh.
• Clean the gutters – Tiny maple trees in your gutters scream “Water damage!” to potential buyers.
• Paint – If the paint is peeling on the outside of your house, potential buyers go in wondering what the upkeep is like inside. Spend money before you put your home on the market to get a better sale price and quicker purchase. If you absolutely can’t afford to paint the whole house, consider painting the shutters and front door for a fresher look.
• Make Friends with Mulch – If your green thumb is actually brown, and your garden sports a post-apocalyptic motif, consider the wonders of mulch.  It covers up that patch under the oak where the grass won’t grow. Buy a few simple plants and mulch around them to achieve a calm canvas on which gardeners can imagine more complex plantings, while those with challenged gardening skills can envision easy maintenance.

The theme of all these tips is to create an image of your home as a place of order, calm and cleanliness; a place where prospective home buyers feel comfortable and cozy.

Whether you’re ready to sell or need more information before taking the plunge, I can help. Give Charles D’Alessandro Your Brooklyn real estate agent with Fillmore Real Estate a call at 718/253-9600 ext 206 or email me at [email protected]

Second mortgages on Brooklyn homes are used by people who need to access the equity on their homes. Here’s some information to help you decide if a second mortgage is right for you.

What is a Second Mortgage?

A second mortgage is taking out a second loan on top of the existing mortgage on your home. The collateral for the second mortgage is your home. The loan process is similar to getting a primary mortgage, including the need to pay for appraisals and closing costs.

The maximum amount of the second mortgage is determined by the equity in your home. The equity is the difference between what you owe on the home and the current fair market value of your home.

Why Get a Second Mortgage?

People take out second mortgages on their Brooklyn homes to:

• Finance home improvements
• Consolidate other debt for a lower monthly payment
• Pay for college tuition
• Invest in a business
• Pay medical bills
• Avoid paying for Private Mortgage Insurance

What Should I Consider Before Getting a Second Mortgage?

Taking out a second mortgage is a big risk because your home is your collateral on the loan. Second mortgages on Brooklyn homes are riskier for the lender, so they usually have a much higher interest rate than your first mortgage.

According to an article in the Wall Street Journal, almost 40% of homeowners who took out second mortgages are underwater on their loans. This is more than twice the rate of owners who didn’t take out second mortgages.

Make sure that you can afford the monthly payments as well as the costs associated with getting a second mortgage including the appraisal fee, closing costs, etc. Before signing on the dotted line, investigate financially safer alternatives such as refinancing, selling or renting out.

If you’re considering getting a second mortgage, please think it through very carefully and weigh all your options before making a final decision.

If you’d like help determining if refinancing, selling or renting out your home is the best option for you, give me a call Charles D’Alessandro Your Brooklyn real estate agent with Fillmore Real Estate at 718/253-9600 ext 206 or email me at [email protected],

How to Sell a Haunted Brooklyn House

With Halloween right around the corner, you’re probably planning costumes, decorating for fall and maybe becoming aware of eerie home happenings that you wouldn’t normally notice. While the prospect of living in a haunted home could be scary to some, the idea of selling spooked Brooklyn real estate might be even more horrifying!

Rumored ghosts and past suspicious incidents could result in your home being moved from buyers’ purchase lists to their black lists. If you or your neighbors believe your home is haunted, take the following ghost-busting tactics into consideration before you put it on the market.

Follow the law – If you think your home is haunted, consult with a Brooklyn real estate agent to ensure you’re following the law. Every state’s legal procedures are different. You could be obligated to notify potential buyers or face legal ramifications down the road — or you may not have to utter a word.

• Squash the rumors – If you don’t think your home is haunted but others do, it falls into the category of stigmatized property, which includes all houses with perceived problems. Talk openly and lightheartedly about the rumored problems, and put an end to scary stories. Also, host a ton of open houses so buyers can experience the home’s aura for themselves.
• Seek out professional haunting help – Believe it or not, some mediums make a living from clearing houses of negative energy, ghosts or whatever you want to call the eerie feeling people get inside your home. If your Brooklyn real estate agent can tout that you’ve had your home cleansed of negative energy by professionals, you might be one step closer to a closing date.
• Reduce and be rid – You might just have to bite the bullet and reduce the price drastically. The goal is to entice an investor who isn’t planning on actually living in the home, but has other plans for it.

If the cat’s out of the bag about your home for sale being haunted, please call me at Charles D’Alessandro Your Brooklyn real estate agent with Fillmore Real Estate at 718/253-9600 ext 206 or email me at [email protected], for more ghost-busting information.

by Jann Swanson

In advance of a speech in Nevada later today in which President Obama is expected to expand on the initiative, the Federal Housing Finance Agency (FHFA) has announced major changes to the Home Affordable Refinance Program (HARP).  FHFA unveiled what is essentially a widening of HARP to reach more borrowers in another effort to reverse the continuing flood of delinquent mortgages heading down the pipeline to foreclosure.

HARP is unique among programs designed to assist distressed borrowers in that it is intended to help those who are current on their mortgages but underwater, that is who owe more on their mortgages than the current market value of their homes.  Several studies have identified these borrowers as being likely to strategically default on or walk away from their mortgages.   Although Fannie Mae and Freddie Mac, the two government sponsored enterprises (GSEs) which are under FHFA conservatorship, have assisted about 9 million homeowners to refinance into lower-cost mortgages over the last few years, only about 10 percent of those were aided through HARP.  HARP, like the other major government foreclosure prevention initiative HAMP, the Home Affordable Modification Program, has been impeded by a lack of enthusiasm among lenders and servicers integral to the programs’ success.  In the case of HARP, the lenders objected to the possibility they might have to buy back delinquent loans if they weren’t scrupulously underwritten.  They thus tended to cherry pick the best loans which in turn limited borrowers from refinancing with other than their current lenders.

The current HARP limits the loan-to-value (LTV) ratio for a new loan to 125 percent (the program originally had a limit of 105 percent).  This effectively eliminates the most underwater homeowners and even leaves whole states, such as Nevada where large percentages of homeowners have negative equity above that amount, out of the program.

While regulations and guidance for the plan won’t be finalized for several weeks, relevant changes to HARP that were announced today include:

• Removing the current 125 percent loan-to-value ceiling on refinanced mortgages;
• Waiving risk-based fees on borrowers who take shorter term mortgages and reducing those fees for others;
• Eliminating the need for a new property appraisal where there is a reliable AVM (automated valuation model) estimate provided by the GSEs;
• Eliminating certain representations and warranties required of lenders to obtain the GSE guarantee. This will protect lenders from many of the buy-back requirements they face under current guidelines.
• Extending availability of the program through the end of 2013.

FHFA said the changes to HARP were made with input from lenders, mortgage insurers, and other industry participants.  According to The Wall Street Journal, among the concessions made by the industry are agreements from private mortgage insurers to facilitate the transfer of existing mortgage insurance coverage and from most of the major lenders to ease the process of subordinating existing second mortgages to the new loans.

The changes in the program may double the number of borrowers using HARP according to some estimates, but still will serve only those borrowers who are current in their loans and who have loans owned or guaranteed by one of the GSE’s that were delivered to Fannie or Freddie prior to July 2009.  Thus it will impact only a small percentage of distressed borrowers in the country.

“We know that there are many homeowners who are eligible to refinance under HARP and those are the borrowers we want to reach,” said FHFA Acting Director Edward J. DeMarco. “Building on the industry’s experience with HARP over the last two years, we have identified several changes that will make the program accessible to more borrowers with mortgages owned or guaranteed by the Enterprises. Our goal in pursuing these changes is to create refinancing opportunities for these borrowers, while reducing risk for Fannie Mae and Freddie Mac and bringing a measure of stability to housing markets.”

Charles E. “Ed” Haldeman, Jr., Chief Executive Officer of Freddie Mac released the following statement on the program.  “This new phase of the Home Affordable Refinance Program (HARP) will help reach more borrowers with negative equity so they can refinance into new Freddie Mac mortgages at today’s historically low-rates. These changes mark another step on the road to recovery for the nation’s housing market and underscore Freddie Mac’s vital role in making affordable mortgage financing available to America’s homeowners and future homebuyers.”

When a buyer makes a short sale offer on your Brooklyn home, it’s impossible to know for sure if the offer will be accepted by the lender.  Even when you’ve negotiated the offer with the buyer and come to an agreement that meets both of your needs, there’s still no guarantee that the lender will say yes to the short sale.

Here are three tips to help get short sale offers on your Brooklyn home accepted by the lender:

1. Convince the lender that you have a legitimate hardship. Submit a hardship letter, pay stubs, bank statements, monthly budget and profit and loss statement to demonstrate that you cannot make your monthly payments and have no disposable income. Here are examples of hardships to mention in your letter:
   1. lost your job
   2. reduced hours/pay at current job
   3. have to move more than 75 miles from home to get a new job
   4. death of a borrower
   5. divorce
   6. onset of a disabling illness

1. Negotiate with the buyer to exclude terms and contingencies that complicate the sale. Lenders do not like to accept short sales when they include time contingencies or when the short sale is contingent on the sale of another home.

1. Submit paperwork as a complete package. Ask your lender for a list of all documents needed. Fill out the paperwork and collect all other documents required. Make copies of everything. Put together a complete package, including all the documents your lender requested, and only then send the entire package to your lender. If the lender later tells you they can’t find a particular document, don’t waste your time arguing about it, just resend the information – it’s easy to do because you already have copies prepared!

If you’d like more information on the possibility of selling your Brooklyn home as a short sale, give me a call today Charles D’Alessandro Your Brooklyn real estate agent with Fillmore Real Estate at 718/253-9600 ext 206 or email me at [email protected],

Charles D'Alessandro your Brooklyn New York real estate agent

Before you put your home on the market, you want to make certain that it’s in tip-top condition to ensure a quick sale. The key to listing your home at a competitive price and guaranteeing you have what buyers are looking for is to think like a Brooklyn  real estate agent. To get your Brooklyn home ready to sell, here are five easy and inexpensive home improvements this Brooklyn real estate agent recommends: Layout – Take an objective look at your home and stage accordingly. Remove clutter and rearrange furniture so that potential buyers can envision each room’s purpose. Also, store any obtrusive furniture that disrupts walking flow or makes rooms look smaller.

1. Hardware – Update all hardware. Changing out door handles, drawer pulls and light fixtures is an easy way to modernize your home while costing little money.
2. Charm – Play up the unique features of your home. Refinish hardwood floors if scuffed, remove excess objects from built-in bookshelves and clean unique light fixtures. It’s these irreplaceable elements that make your home stand out from other homes and hook buyers.
3. Scent – Eliminate all bad odors like pet smells, stale cooking odors and cigarette smoke.  Just lighting candles or spraying air freshener won’t work.  Clean, deodorize and get rid of rugs or other cloth objects that still smell bad.
4. Curb Appeal – Spend some time sprucing up the yard. It’s the first impression buyers will have, and although the house might be in mint condition, a lots-of-work lawn could instill a negative notion before they even step a foot inside your home.

Buyers’ needs vary in every market. However, buyers will always consider these five features before they buy. So, stay one step ahead of the game and ensure your house is up to par with buyers’ expectations. If you’re getting ready to sell your home and are looking for a Brooklyn real estate agent who can help you sell your home fast and for top-dollar, I’d be honored to be interviewed for the job.  Give me a call today  Charles D’Alessandro Your Brooklyn real estate agent with Fillmore Real Estate at 718/253-9600 ext 206 or email me at [email protected],

Divorce and Your Brooklyn Real Estate

Divorce is hard enough without having to deal with the frustration of dividing assets. However, when it comes to valuable items such as property, you need to make sure you’re taking the logistical steps necessary to appraise and distribute your Brooklyn real estate.

Determining Value of your Brooklyn Home

• Hire a real estate appraiser – If you and your soon-to-be ex can’t come to an agreement on the value of your home, then you might want to consider employing an appraiser to come to a decision for you.
• Get help from a real estate agent – A more cost-effective, but maybe not the most precise, way to determine the value of your property is to ask a Brooklyn New York real estate agents to estimate the cost. They’ll usually charge you little to nothing, and you can use this as a way to interview real estate agents to sell your home.

Evaluating Equity of your Brooklyn home

• Calculate the true value – Computing the equity of your home is essential to figuring out how much it’s worth. Take the home’s value and subtract how much you still owe in mortgages, equity loans and secured lines of credit.
• Figure out non-marital vs. marital equity – In equitable property states, non-marital equity (such as assets acquired before marriage, prenuptial exclusions, gifts, personal injury settlements and inheritance) remains yours and is set aside from the communal marital assets.

Dividing Assets

• Know the difference between the title and mortgage – Many people try to have their name removed from the title thinking it will exempt them from the debt of the mortgage — this is incorrect. The title lists the legal owner and the mortgage lists parties responsible for payment. If one party is awarded the home, then you must refinance for it to be reflected on the mortgage.
• Sell and divide the proceeds – Put your home on the market for an immediate sale, and after all the costs have been deducted, divide what’s left.

When dividing assets during a divorce, an immediate sale isn’t the only option. You can award the house to one party and compensate the other with money or other valuable assets.

If you’re going through a divorce and need help deciding how to proceed with your [city] real estate, I’m happy to help.  Call  Charles D’Alessandro Your Brooklyn real estate agent with Fillmore Real Estate at 718/253-9600 ext 206 or email me at [email protected],

Brooklyn New York Experiences Earthquake 2011

I was working in my office,( Fillmore Real Estate ) in Brooklyn New York when I felt my first earthquake!  News reports are still coming in, but the reports are the earthquake started in Virginia and has been felt up and down the East Coast.  News reporters are saying the magnitude of this earthquake is 5.8 which is very unusual for Brooklyn New York.

I asked myself ,what should I to do after an earthquake comes to your Brooklyn home.  Here are a few initial things you might want to to do after you make sure everyone in your household is safe:

•   Inspect gas lines
Check for gas leaks. If you smell gas or hear blowing or hissing noise, open a window and quickly leave the building. Turn off the gas at the outside main valve if you can and call the gas company from a neighbor’s home.  If you turn off the gas yourself, it should be turned back on by a professional.

•  Look for electrical system damage
If you see sparks or broken or frayed wires, or if you smell hot insulation, turn off the electricity at the main fuse box or circuit breaker.

•  Clean up
Make sure to clean up spilled medicines, bleaches, gasoline or other flammable or potentially toxic liquids immediately. Make sure to leave your home if you smell gas or fumes from other chemicals.

•  Inspect your chimney
Look at the entire length of chimneys for damage. Unnoticed damage could lead to a fire.  If you aren’t sure, get a licensed chimney sweep company out prior to using the chimney.

•  Check for sewage and water lines damage
If you suspect sewage lines are damaged, call a plumber and avoid using the toilets.  If water pipes are damaged, contact the water company and avoid using water from your tap.  Drink bottled water or melt ice cubes until you have a pro check it out .

•  Open cabinets cautiously Beware of objects that can fall off shelves.

Get additional tips from FEMA

If you need help determining if now is the best time to sell your Brooklyn home, call Charles D’Alessandro Your Brooklyn Realtor® with Fillmore Real Estate at 718/253-9600 ext 206 or email me at [email protected],

Back to School!

If you’re looking to purchase a new home, then you have a list of priorities. When looking at Brooklyn homes for sale, families with young children consider proximity to schools and quality of school districts as two of the top concerns on their home buying checklist.

With “back to school” on the brain, your top priority when looking at Brooklyn homes for sale might be how close a home is to schools. Before you purchase property near a school, take the following considerations into account.

Top-notch education – If the local school is the best in the surrounding area, then your property value could increase. Houses in your Brooklyn neighborhood will be in high demand because families will want to ensure their children are included in that district.

• Around the block – Living near a school could be beneficial if you have younger children you can walk with. Additionally, your proximity will allow you to react quickly if school closes early or your child gets sick.
• Noise alert – With cars whizzing by and children walking past, you might have to deal with daily commotion and traffic. Depending on how close you live to the school, you could also be subject to noise from recess, after-school practice and Friday night football games.
• School view – Living directly across from a school could actually decrease the value of your home and increase the litter. A view of a high school isn’t as good as a view of a quaint, tree-lined street; and the constant foot and car traffic could mean more mess in your yard.
• Neighborhood watch – Do your research. Some Brooklyn neighborhoods surrounding schools may have better relationships with the school. If your neighborhood civic association meets monthly with a school, you’ll be able to voice any concerns you might have.

While there are many pros and cons to living near schools, you need to decide what is best for your family.

Whether you’re interested in Brooklyn homes for sale near or far away from schools, I can help you find a home that fits your priorities.  Call me Charles D’Alessandro your Brooklyn real estate agent with Fillmore Real Estate at (718) 253-9600 ext 206 or email me at [email protected]