What is Private Mortgage Insurance?

Private mortgage insurance (PMI) is a term many Brooklyn home owners have heard but few understand.  Unfortunately, even more home owners have paid PMI premiums long after it was needed because they didn’t know they could cancel.

Here are answers to questions I am most frequently asked about PMI:

What is Private Mortgage Insurance (PMI)?

As its name states, PMI is insurance.  Like all insurance, it protects someone against the loss of something.  For example, car insurance protects the car owner against the loss of his car.  In this case, PMI protects lenders against the loss of their money if borrowers fail to repay their mortgage.

If you buy a house and make a down payment of less than 20%, lenders require that you pay for PMI insurance.  Let’s use an example of Jane buying a Brooklyn  home for the purchase price of $400,000.  She has $40,000 for a down payment, which is 10% of the purchase price. That means she has to pay for PMI.

What’s the cost of PMI?

PMI premiums vary depending on the mortgage insurance company you use.  Generally, they range from .5 to 1% of the amount of your home loan.  You have the option of choosing the insurance company you would like to work with, and there are many to choose from.  As with any insurance, you should shop around to find a company with which you feel comfortable.

Do all loans require PMI?

No, if you put down 20% or more of the purchase price of your Brooklyn home, you are not required to buy PMI.

I’ve made mortgage payments for 2 years why do I still need PMI?

Understanding how your loan works is very important.  The first several years of your mortgage payments go toward paying down the finance charges (interest) on your home loan.  PMI is based on the principal (the amount you actually borrowed), not including finance charges.  Because of this, it can take many years to reach the point where you’ve paid off 20% of the price of your home.

How do I know when I can stop paying for PMI?

The Homeowners Protection Act (HPA) requires lenders to inform a buyer at closing that PMI can be cancelled and at what point in the loan this will occur.  However, it is still your responsibility as the home owner to request cancellation once you qualify.  In other words, no one is going to automatically cancel your PMI when you’ve paid off 20% of the price of your home.  You must do that or you continue to pay.

What if I forget to ask to have my PMI cancelled?

If you do not ask for PMI to be cancelled, you’ll continue to pay PMI until you’ve paid off 22% of the price of your home.  Fortunately, the lender is required to automatically cancel PMI once you’ve reached the 78/22 point, which means you’ve paid off 22% and only owe 78% of the price of your home.  However, if your loan isn’t current or has more than one late payment in the past year, you still must pay for PMI.

What if I have had late mortgage payments in the past?

As long as you have had no more than two late payments in the past two years, the lender will allow you to cancel.

What if I have had more than 2 late mortgage payments?

The lender will require you to maintain PMI until your home loan reaches 77/23, at the earliest.  In some cases, the lender can require you to maintain PMI up to the halfway point in your home loan, at which time they are required by HPA to cancel.

Will I ever have to get PMI again for my Brooklyn home loan?

No.  Once PMI has reached the cancellation point and has been cancelled, the lender can’t require you to purchase additional PMI.  The only way that can change is if you refinance your current home loan.

If you’re looking for an experienced, energetic, resourceful  Brooklyn real estate agent or just have a few real estate related questions,I’m happy to help. Give me Charles D’Alessandro your Brooklyn Realtor® with Fillmore Real Estate a call at (718) 253-9600 ext.206 or email me at [email protected]

Home Owners Insurance For Your Beooklyn Home!

You know you need homeowner’s insurance on your Brooklyn Home but what kind and how much?  To help you figure this out, here are answers to some of the most frequently asked questions about homeowner’s insurance.

How much homeowner’s insurance do you need?

Lenders require you to carry enough coverage to protect their investment, which means the amount of your loan.  But the amount of your loan most likely isn’t enough to rebuild your home, if it was damaged.  To be able to replace your home and its contents in case of a disaster, you probably want a policy that insures the replacement value of your Brooklyn home.

It’s a good idea to sit down periodically with your insurance agent to review your homeowner’s policy.  You want to determine if your coverage matches current construction costs and the replacement value of your Brooklyn home’s content.

What about coverage for earthquakes and floods?

Many homeowners assume coverage for all natural disasters is included in their insurance policy.  Not true.  In fact, the most important thing for you to know about flood and earthquake insurance is that it is not included in a basic homeowner’s insurance policy.  Both require separate policies in order to get reimbursed for damage.

Let’s face it; most of the United States has the possibility of being affected by an earthquake.  Unless you specifically purchase earthquake coverage, damage to your Brooklyn home caused by a quake is not covered.  The same is true with flooding.  You don’t have to live next to a large body of water to sustain water damage from flooding.  A small creek next to your home can cause just as much damage during a flash flood.

Do you need to shop around for insurance?

Fortunately, the Insurance Services Office (ISO) sets the standards for homeowner’s policies so coverage doesn’t change much from company to company, however, rates can vary greatly.  That means it is worth your time and effort to shop around for the best prices before you buy your homeowner’s policy.

If you’d like a referral to a professional homeowner’s insurance agent, give me Charles The Realtor® with Filmore Real Estate a call today at (718) 253-9600 ext.206 or email me at [email protected]

25. DO I REALLY NEED HOMEOWNER’S INSURANCE?

Yes. A paid homeowner’s insurance policy (or a paid receipt for one) is required at closing, so arrangements will have to be made prior to that day. Plus, involving the insurance agent early in the home buying process can save you money. Insurance agents are a great resource for information on home safety and they can give tips on how to keep insurance premiums low.

26. WHAT STEPS COULD I TAKE TO LOWER MY HOMEOWNER’S INSURANCE COSTS?

Be sure to shop around among several insurance companies. Also, consider the cost of insurance when you look at homes. Newer homes and homes constructed with materials like brick tend to have lower premiums. Think about avoiding areas prone to natural disasters, like flooding. Choose a home with a fire hydrant or a fire department nearby.

27. IS THE HOME LOCATED IN A FLOOD PLAIN?

Your real estate agent or lender can help you answer this question. If you live in a flood plain, the lender will require that you have flood insurance before lending any money to you. But if you live near a flood plain, you may choose whether or not to get flood insurance coverage for your home. Work with an insurance agent to construct a policy that fits your needs.

28. WHAT OTHER ISSUES SHOULD I CONSIDER BEFORE I BUY MY BROOKLYN HOME?

Always check to see if the house is in a low-lying area, in a high-risk area for natural disasters (like earthquakes, hurricanes, tornadoes, etc.), or in a hazardous materials area. Be sure the house meets building codes. Also consider local zoning laws, which could affect remodeling or making an addition in the future. Your real estate agent should be able to help you with these questions.

29. HOW DO I MAKE AN OFFER?

Your real estate agent will assist you in making an offer, which will include the following information:

	Complete legal description of the property
	Amount of earnest money
	Down payment and financing details
	Proposed move-in date
	Price you are offering
	Proposed closing date
	Length of time the offer is valid
	Details of the deal

Remember that a sale commitment depends on negotiating a satisfactory contract with the seller, not just Making an offer.

Other ways to lower ins-insurance costs include insuring your home and car(s) with the same company, increasing home security, and seeking group coverage through alumni or business associations. Insurance costs are always lowered by raising your deductibles, but this exposes you to a higher out-of-pocket cost if you have to file a claim.

30. HOW DO I DETERMINE THE INITIAL OFFER?

Unless you have a buyer’s agent, remember that the agent works for the seller. Make a point of asking him or her to keep your discussions and information confidential. Listen to your real estate agent’s advice, but follow your own instincts on deciding a fair price. Calculating your offer should involve several factors: what homes sell for in the area, the home’s condition, how long it’s been on the market, financing terms, and the seller’s situation. By the time you’re ready to make an offer, you should have a good idea of what the home is worth and what you can afford. And, be prepared for give-and-take negotiation, which is very common when buying a home. The buyer and seller may often go back and forth until they can agree on a price.

31. WHAT IS EARNEST MONEY? HOW MUCH SHOULD I SET ASIDE?

Earnest money is money put down to demonstrate your seriousness about buying a home. It must be substantial enough to demonstrate good faith and is usually between 1-5% of the purchase price (though the amount can vary with local customs and conditions). If your offer is accepted, the earnest money becomes part of your down payment or closing costs. If the offer is rejected, your money is returned to you. If you back out of a deal, you may forfeit the entire amount.

32. WHAT ARE “HOME WARRANTIES”, AND SHOULD I CONSIDER THEM?

Home warranties offer you protection for a specific period of time (e.g., one year) against potentially costly problems, like unexpected repairs on appliances or home systems, which are not covered by homeowner’s insurance. Warranties are becoming more popular because they offer protection during the time immediately following the purchase of a home, a time when many people find themselves cash-strapped.

GENERAL FINANCING QUESTIONS:THE BASICS

33. WHAT IS A MORTGAGE?

Generally speaking, a mortgage is a loan obtained to purchase real estate. The “mortgage” itself is a lien (a legal claim) on the home or property that secures the promise to pay the debt. All mortgages have two features in common: principal and interest.

34. WHAT IS A LOAN TO VALUE (LTV) HOW DOES IT DETERMINE THE SIZE OF MY LOAN?

The loan to value ratio is the amount of money you borrow compared with the price or appraised value of the home you are purchasing. Each loan has a specific LTV limit. For example: With a 95% LTV loan on a home priced at $50,000, you could borrow up to $47,500 (95% of $50,000), and would have to pay,$2,500 as a down payment.

The LTV ratio reflects the amount of equity borrowers have in their homes. The higher the LTV the less cash homebuyers are required to pay out of their own funds. So, to protect lenders against potential loss in case of default, higher LTV loans (80% or more) usually require mortgage insurance policy.

35. WHAT TYPES OF LOANS ARE AVAILABLE AND WHAT ARE THE ADVANTAGES OF EACH?

Fixed Rate Mortgages: Payments remain the same for the the life of the loan

Types

	15-year
	30-year

Advantages

	Predictable
	Housing cost remains unaffected by interest rate changes and inflation.

Adjustable Rate Mortgages (ARMS): Payments increase or decrease on a regular schedule with changes in interest rates; increases subject to limits

Types

	Balloon Mortgage- Offers very low rates for an Initial period of time (usually 5, 7, or 10 years); when time has elapsed, the balance is clue or refinanced (though not automatically)
	Two-Step Mortgage- Interest rate adjusts only once and remains the same for the life of the loan
	ARMS linked to a specific index or margin

Advantages

	Generally offer lower initial interest rates
	Monthly payments can be lower
	May allow borrower to qualify for a larger loan amount

36. WHEN DO ARMS MAKE SENSE?

An ARM may make sense If you are confident that your income will increase steadily over the years or if you anticipate a move in the near future and aren’t concerned about potential increases in interest rates.

If you would like to follow this series of questions and answers about buying your New Brooklyn Home Check it out here

If you’re looking for an experienced, energetic, resourceful  Brooklyn real estate agent or just have a few questions, give me Charles D’Alessandro your Brooklyn Realtor® with Fillmore Real Estate a call at (718) 253-9600 ext.206 or email me at [email protected]

12. HOW CAN I FIND INFORMATION ON THE PROPERTY TAX LIABILITY?

The total amount of the previous year’s property taxes is usually included in the listing information. If it’s not, ask the seller for a tax receipt or contact the local assessor’s off ice. Tax rates can change from year to year, so these figures may be approximate.

13. WHAT OTHER TAX ISSUES SHOULD I TAKE INTO CONSIDERATION?

Keep in mind that your mortgage interest and real estate taxes will be deductible. A qualified real estate professional can give you more details on other tax benefits and liabilities,

14. IS AN OLDER HOME A BETTER VALUE THAN A NEW ONE?

There isn’t a definitive answer to this question. You should look at each home for its individual characteristics. Generally, older homes may be in more established neighborhoods, offer more ambiance, and have lower property tax rates. People who buy older homes, however, shouldn’t mind maintaining their home and making some repairs. Newer homes tend to use more modern architecture and systems, are usually easier to maintain, and may be more energy-efficient. People who buy new homes often don’t want to worry initially about upkeep and repairs.

15. WHAT SHOULD I LOOK FOR WHEN WALKING THROUGH A HOME?

In addition to comparing the home to your minimum requirement and wish lists, use the HUD Home Scorecard and consider the following:

	Is there enough room for both the present and the future?
	Are there enough bedrooms and bathrooms?
	Is the house structurally sound?
	Do the mechanical systems and appliances work?
	Is the yard big enough?
	Do you like the floor plan?
	Will your furniture fit in the space? Is there enough storage space? (Bring a tape measure to better answer these questions.)
	Does anything need to repaired or replaced? Will the seller repair or replace the items?
	Imagine the house in good weather and bad, and in each season. Will you be happy with it year-round?

Take your time and think carefully about each house you see. Ask your real estate agent to point out the pros and cons of each home from a professional standpoint.

16. WHAT QUESTIONS SHOULD I ASK WHEN LOOKING AT BROOKLYN HOMES?

Many of your questions should focus on potential problems and maintenance issues. Does anything need to be replaced? What things require ongoing maintenance (e.g., paint, roof, HVAC, appliances, carpet)? Also ask about the house and neighborhood, focusing on quality of life issues. Be sure the seller’s or real estate agent’s answers are clear and complete. Ask questions until you understand all of the information they’ve given. Making a list of questions ahead of time will help you organize your thoughts and arrange all of the information you receive. The HUD Home Scorecard can help you develop your question list.

17. HOW CAN I KEEP TRACK OF ALL THE HOMES I SEE?

If possible, take photographs of each house: the outside, the major rooms, the yard, and extra features that you like or ones you see as potential problems. And don’t hesitate to return for a second look. Use the HUD Home Scorecard to organize your photos and notes for each house.

18. HOW MANY HOMES SHOULD I CONSIDER BEFORE CHOOSING ONE?

There isn’t a set number of houses you should see before you decide. Visit as many as it takes to find the one you want. On average, homebuyers see 15 houses before choosing one. Just be sure to communicate often with your real estate agent about everything you’re looking for. It will help avoid wasting your time.

YOU’VE FOUND IT

19. WHAT DOES A HOME INSPECTOR DO, AND HOW DOES AN INSPECTION FIGURE IN THE PURCHASE OF A HOME?

An inspector checks the safety of your potential new home. Home Inspectors focus especially on the structure, construction, and mechanical systems of the house and will make you aware of only repairs,that are needed.

The Inspector does not evaluate whether or not you’re getting good value for your money. Generally, an inspector checks (and gives prices for repairs on): the electrical system, plumbing and waste disposal, the water heater, insulation and Ventilation, the HVAC system, water source and quality, the potential presence of pests, the foundation, doors, windows, ceilings, walls, floors, and roof. Be sure to hire a home inspector that is qualified and experienced.

It’s a good idea to have an inspection before you sign a written offer since, once the deal is closed, you’ve bought the house as is.” Or, you may want to include an inspection clause in the offer when negotiating for a home. An inspection t clause gives you an ‘out” on buying the house if serious problems are found,or gives you the ability to renegotiate the purchase price if repairs are needed. An inspection clause can also specify that the seller must fix the problem(s) before you purchase the house.

20. DO I NEED TO BE THERE FOR THE  INSPECTION?

It’s not required, but it’s a good idea. Following the inspection, the home inspector will be able to answer questions about the report and any problem areas. This is also an opportunity to hear an objective opinion on the home you’d I like to purchase and it is a good time to ask general, maintenance questions.

21. ARE OTHER TYPES OF INSPECTIONS REQUIRED?

If your home inspector discovers a serious problem a more specific Inspection may be recommended. It’s a good idea to consider having your home inspected for the presence of a variety of health-related risks like radon gas asbestos, or possible problems with the water or waste disposal system.

22. HOW CAN I PROTECT MY FAMILY FROM LEAD IN THE HOME?

If the house you’re considering was built before 1978 and you have children under the age of seven, you will want to have an inspection for lead-based point. It’s important to know that lead flakes from paint can be present in both the home and in the soil surrounding the house. The problem can be fixed temporarily by repairing damaged paint surfaces or planting grass over effected soil. Hiring a lead abatement contractor to remove paint chips and seal damaged areas will fix the problem permanently.

23. ARE POWER LINES A HEALTH HAZARD?

There are no definitive research findings that indicate exposure to power lines results in greater instances of disease or illness.

24. DO I NEED A LAWYER TO BUY A HOME?

Laws vary by state. Some states require a lawyer to assist in several aspects of the home buying process while other states do not, as long as a qualified real estate professional is involved. Even if your state doesn’t require one, you may want to hire a lawyer to help with the complex paperwork and legal contracts. A lawyer can review contracts, make you aware of special considerations, and assist you with the closing process. Your real estate agent may be able to recommend a lawyer. If not, shop around. Find out what services are provided for what fee, and whether the attorney is experienced at representing homebuyers.

If you would like to follow this series of questions and answers about buying your New Brooklyn Home Check it out here

If you’re looking for an experienced, energetic, resourceful  Brooklyn real estate agent or just have a few questions, give me Charles D’Alessandro your Brooklyn Realtor® with Fillmore Real Estate a call at (718) 253-9600 ext.206 or email me at [email protected]

Here are a few tips to help your Brooklyn home for sale show better and sell faster.

1.      Get rid of the excess: Eliminate as much as possible, and then do it again.  Remember when staging your Brooklyn home for sale, less is best.  Swap out personal photos for framed art.  The main idea is to remove as much as possible and replace personal items with neutral objects so that people can imagine their things in the home.

2.      Repair and paint: Before painting, fix all those minor dings that don’t really bother you.  Buyers notice everything.  A missing piece of baseboard, an outlet that doesn’t work, or a closet door that won’t stay on track all seem minor, but they can have a huge affect on how a buyer views your home.  The next step is to apply a fresh coat of paint in a neutral color.  Freshly painted walls make a room look cleaner and larger.

3.      Improve the curb appeal: You have to get people in the door before they’ll buy your Brooklyn home for sale.  If your house looks bad on the outside, buyers won’t waste their time taking a look at the inside.  Improving your curb appeal doesn’t mean you need to hire a landscaper.  It can be as basic as trimming your hedges and trees, especially those closest to your house.  Repair or replace loose porch railings and make sure the exterior paint is not chipping.  If needed, scrape and paint; peeling paint is a real turnoff to buyers.  Keep the lawn mowed.  Put away bikes, toys and garden tools.

Following these simple steps will go a long way to getting your Brooklyn New York home sold quickly.

Ready to sell your home?  I can help. Call your Brooklyn Realtor®, Charles D’Alessandro of Fillmore Real Estate today at (718) 253-9600 ext.206 or email me at [email protected]

Reverse Mortgage ! Is it Right for you?

Reverse mortgages are a popular option for homeowners who are 62 years of age and older and need additional income.  Credit scores and income are not part of the qualification process for a reverse mortgage, so they’re fairly easy to get.

But is a reverse mortgage right for you, your parents or grandparents?  Here are some pros and cons to consider before making your decision:

Pros of getting a reverse mortgage on your Brooklyn New York real estate

When you get a reverse mortgage, you can:

• Use the money to supplement social security, pay for home improvements or meet unexpected medical bills.
• Choose the payment method you prefer:  monthly payment, line of credit or lump sum.
• Make no payments on the loan (monthly or otherwise) unless you die, move or sell the home.  If any of those events occur, the loan is due in full, plus interest and fees.

Cons of getting a reverse mortgage on your Brooklyn New York real estate

Unfortunately, there are several disadvantages to taking out a reverse mortgage:

• You pay origination fees that are almost twice as much as origination fees on conventional mortgages.
• There are a wide variety of reverse mortgages available from a lot of different sources.  This makes an already complex loan even more confusing.   Shop around, compare and attend an information session with an approved HUD counselor before deciding on a reverse mortgage.
• It may impact your eligibility for Medicaid and other state or federal programs.  For example, if you currently receive any “need based” benefits such as Medicaid or Supplemental Social Security Income (SSI), reverse mortgage payments will have to be structured so that monthly payments will be spent within the month they are received. If not, such payments will be considered income, and may make you ineligible for public benefits. Contact your benefits provider to ask about how a reverse mortgage may affect your eligibility.

If getting a reverse mortgage on your Brooklyn New York real estate, or the home of your parents or grandparents, is the right thing to do, you might want to consider FHA’s reverse mortgage program called The Home Equity Conversion Mortgage (HECM). According to HUD, the HECM is a safe plan that can give older Americans greater financial security.

You can receive additional free information about reverse mortgages by contacting the National Council on Aging at (800) 510-0301.  I’m also available to help you with this difficult decision.  Give me a call today Charles D’Alessandro your Brooklyn Realtor with Fillmore Real Estate at (718) 253-9600 ext.206 or email [email protected].

If you watch television, read magazines or surf the net, you’ve probably seen ads for reverse mortgages.  Those ads don’t provide many details, so here are the basics you need to know about reverse mortgages.

Are you eligible for a reverse mortgage on your Brooklyn NY real estate?

To be eligible for a reverse mortgage, you must:

• Be at least 62 years old
• Own your home
• Live in the home and claim it as your primary residence

When does the reverse mortgage loan become due?

As the homeowner, you do not have to make any monthly payments on your reverse mortgage.  The loan becomes due when you:

• Permanently move out of your home
• Sell the home or fail to fulfill other conditions like the continued payment of property taxes, homeowner’s insurance and repair and maintenance.
• Pass away

Should you get a reverse mortgage on your Brooklyn NY real estate?

The Consumers Union, the nonprofit publisher of Consumer Reports, suggests you consider all alternatives to a reverse mortgage before taking the plunge.  Alternatives you may want to consider include less expensive programs offering financial assistance, other lower-cost loans or selling your home.

You may want to get a reverse mortgage if you:

• Need additional income and there is no less expensive way to get it.  Use an online reverse mortgage calculator to estimate the amount of money you could get from a reverse mortgage.
• Want to stay in your home and retain ownership
• Do not plan to leave your home to your children or others who will inherit from you.

You may NOT want to get a reverse mortgage if you:

• Want to leave your home, free and clear, to your children or heirs
• Have a less costly means to reach your financial goal
• Become ineligible to receive public benefits such as Medicaid or SSI (Social Security Income) by taking out a reverse mortgage.
• Will have trouble paying your property taxes and homeowner’s insurance.  A 2010 report from the Department of Housing and Urban Development (HUD) estimated that more than 20,000 reverse mortgages were in default for nonpayment of taxes and insurance.  You do not want to get a reverse mortgage only to lose your home to foreclosure and eviction because you’re unable to pay your taxes and insurance.

As always, when you consider taking out a loan of any type, do your homework to make sure this is the right move for you, be sure to read all of the fine print and understand exactly what it is you’re signing.

If you’d like some help determining if selling your home, getting a reverse mortgage or some other lower-cost loan is best for you, give me a call Charles D’Alessandro of Fillmore Real Estate call today at 9718) 253-9600 ext 206 or email me at [email protected].

House flipping is still a profitable way to invest in Brooklyn Real Estate , if you know what you’re doing. I’m going to share one of the biggest mistakes prospective home flippers make and how to avoid it.

Choosing the Wrong Brooklyn Real Estate to Flip

Nothing will make your venture into the world of house flipping a bigger nightmare than a finished product that will not sell. To avoid this, learn all you can about what’s currently selling the fastest and for the most money in your Brooklyn real estate market.

It doesn’t mean you have to pick expensive homes in up-scale neighborhoods.  In fact, those may be the worst Brooklyn properties to try to flip, depending on your market.  Typically, there are houses you can flip for profit in every price range.

Choosing the Right Brooklyn Property to Flip

The things you need to avoid when buying a Brooklyn home you’re planning to flip are basically the same things you would avoid if you were purchasing that same home as your primary residence.  Here are three things to avoid when choosing a home to flip:

1)      Distractions that would make living in the home undesirable such as busey avenues, comercial streets or manufactuing plants.

2)      Crazy floor plans that cannot be easily fixed in a quick and inexpensive remodel.

3)      Homes with major structural damage. Getting a home inspection is the best way to avoid this.  However, if for some reason you cannot get a home inspection, always make provisions in your operating expenses for unexpected major repairs.

If you would like more information on how to turn a profit by flipping Brooklyn real estate, give me Charles D’Alessandro of Fillmore Real Estate a call today at (718) 253-9600 ext 206 or email me at [email protected]

Trying to sell your  real estate in a slow market can be frustrating. You may find that it takes longer to sell and you can’t get as much money as you could during a booming market. However, you can’t believe all the hype about a sluggish real estate market. Do your research and separate the facts from the fiction.

Here are 3 myths and the facts behind the fiction:

1. You won’t get a decent price. Your  real estate will sell for whatever a buyer is willing to pay. A comparative market analysis shows you what other buyers spent on property like yours. Of course, if you bought your home when values were up, you may not get the return on your investment you’d hoped for. However, most sellers get a fair price and even make a profit in a slow market.
2. Your  real estate will stay on the market too long. While it’s true that real estate tends to take longer to sell during a slow market, it’s not impossible to sell. People still buy in slower markets. If your home is priced right, prepared for sale and marketed professionally, it will sell.
3. Buyers only want foreclosures and short sales. The truth is that buyers want good deals, and this can be in the form of money or time. The price of a foreclosure or short sale may certainly be attractive, but they can take a considerable amount of time to close while the banks negotiate their terms. Paying slightly more for a traditional sale is sometimes well worth the time they can save.

Using my proven marketing plan, I can help you sell your Brooklyn home whether it’s a slow market or a booming market. Call Charles D’Alessandro of Fillmore Real Estate today at (718) 253-9600 ext.206 or email me at [email protected].

Charles D’Alessandro

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tel 718 253-9600
fax 718 253-9573

Brooklyn Real Estate Blog 3 Things You Shouldn’t Say No To With a Home for Sale in Brooklyn