Posts Tagged ‘brooklyn condo’

Brooklyn Realtor® Presents Marine Park Brooklyn Condominium For Sale

Thursday, June 2nd, 2011

Brooklyn Condos vs. Houses: Which Should You Choose?

Tuesday, July 13th, 2010

Brooklyn condos or houses:  that is the question!

You may be thinking of getting a home but wondering how much space you really need. If you opt to look at houses, your choices are vast.  Houses, both large and small, are abundant in today’s real estate market.

Even though Brooklyn condos are typically smaller than most houses, there are large condos available (even condos larger than houses).  And, just like traditional houses, there are a lot of condos available in this buyer’s market.

So, how do you choose?  Your selection should be based on your current and near-future needs.

Let’s demystify the differences and clarify your selection:

  • Space: Is your family large?  Are you planning to add many more?  Do you work from home?  Consider your plans for the next 5 to 7 years, and buy the size that fits those needs.
  • Price: Condos can be more affordable, especially the smaller ones.  But, with condos you have to pay condo association fees.
  • Location: If you want a condo with a great view, close to work, for example, prepare for a premium.  Conversely, many homes with great yards and neighborhoods are quite affordable.  Not choosy?  Competitive pricing awaits you with either choice!
  • Luxury: Lavish Brooklyn condos, much like ideally-located ones, are often steeply-priced.  Luxury houses are expensive, too.  The good news is that whichever style of housing you choose, you’ll find luxurious versions.
  • Availability: There are typically more houses on the market than condos, so, in general, your selection is greater with houses.
  • Privacy: Houses typically offer more in the way of privacy.   But, the trade off is that you also have more responsibilities and maintenance when you own a house.  Want a care-free, low-maintenance lifestyle?  A condo may be your best bet.
  • Acreage: If a smaller yard (or no yard) doesn’t bother you, a condo can offer excellent square footage and lower payments.  Looking for land?  A home is your best way to go.

Still Unsure?

I’d love to assist in your juggling act.  Call me at (718) 253-9600 ext 206 or email me at [email protected] and together we’ll find the perfect home to fit your budget and lifestyle.


Charles D’Alessandro

[email protected]
tel 718 253-9600
fax 718 253-9573
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Is a Reverse Mortgage on Your Brooklyn Condo a Good Idea?

Thursday, May 27th, 2010

Did you know that cash could be hiding in your Brooklyn condo?  If you are sixty-two or older, you may be able to qualify for a reverse mortgage, and never have to make a mortgage payment as long as you live in the home.  Let me tell you a little more about a reverse mortgage:

What Is A Reverse Mortgage?

A reverse mortgage uses the equity in your Brooklyn condo to make payments to you.  You aren’t required to make any payments for as long as you live in your home.  The loan doesn’t become due until you have not lived in the home for at least twelve months.  Your home can pass to your descendents if they refinance the loan themselves.  The money can be used for any purpose you want.

Funds are received as a lump sum, a line of credit, or a monthly payment.  You’ll have access to more money with the line of credit, but the interest rate is variable.  If you decide on a lump sum or a monthly payment, you will have a higher interest rate.  The line of credit can be a credit card or like a checking account.  You can buy groceries, gas and pay your bills out of this account.

The reverse mortgage process is similar to the conventional mortgage process.  The property will need an inspection and appraisal.  There are origination fees and closing costs associated with this type of loan.

Who Qualifies for a Reverse Mortgage?

The first requirement is age; only those sixty-two or older are able to qualify.  There are no income or credit requirements to be approved for a reverse mortgage.  Some lenders even let you roll the down payment and closing costs into the loan, so that you don’t have pay any money up front.

The loan is based on the age of the youngest borrower.  The older you are, the more money you will qualify for.  The good news is that the money will not affect your Social Security benefits or Medicare.

There are advantages and disadvantages to a reverse mortgage, so be sure to do your homework before making this important decision.

If you have questions about reverse mortgages, or would like to discuss buying or selling a Brooklyn condo, give me a call today at (1718)253-9600 ext 206 or email me at [email protected]


Charles D’Alessandro

[email protected]
tel 718 253-9600
fax 718 253-9573
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Why FSBO Isn’t the Way to Go When Selling Your Brooklyn Condo Or Home

Sunday, December 13th, 2009

Whether for Brooklyn condos or single-family homes, For Sale by Owner (FSBO) sales aren’t near as successful as those sold by real estate agents. In fact, by 2006, the average price for a FSBO home was at least $50,000 less than agent-run sales.

Why is that? Are real estate agents just naturally better at it? Although I’d love to say yes, the reality is that there are just some things FSBOs don’t know. Because they don’t know it, they make mistakes. Some of the most common are:

  1. Incorrect pricing – The market can only bear so much. By pricing their Brooklyn condos and homes too high, many FSBOs fail to sell. If your home isn’t selling, this may be the reason.
  1. Not understanding everything involved – Selling a home, whatever the type, takes a lot of time, energy, ability, effort and know-how. For instance, accessibility is especially important, and a lot of FSBOs can’t be available to show the property when a buyer wants to see it.
  1. Screening – You can waste a lot of time on unqualified buyers. You can also lose money by taking an offer that’s lower than it should be. Screening buyers can take a lot of time and effort, especially if you don’t have the experience to spot them.
  1. Financing questions – The prospective buyer wants to know their financing options. As a FSBO, you need to be able to answer financing questions and explain their options. To do this, you’ll need to build a network of financial experts.
  1. Knowing contracts – You need to be well versed in legal jargon, so you can handle contracts, agreements and disputes. Make sure everything – the negotiations and the agreements – is in writing.

These five points are just a few of the things you need to know to sell Brooklyn condos and single-family homes on your own. If you’re not prepared to do it all, hire an agent to do it all for you!

If you’re trying to sell your home or condo and need someone who knows the ropes, I can help. Call me Charles D’Alessandro of Fillmore Real Estate today at 718 253-9600 or email me at [email protected] for more information.


What to Consider Before Buying a Brooklyn Condo

Saturday, December 5th, 2009

If a Brooklyn condo lifestyle sounds interesting to you, here are a few things to consider about living in this type of residence:

Ownership

When you purchase a Brooklyn condo, you own the space within your condo’s walls.  The actual walls are co-owned with your neighbor, as well as the common areas like the hallways; building exterior; yard and amenities such as the pool, gym, and walking trails.

Condo Association Fees

Each condo has Association fees that are in addition to the mortgage.  These fees are used for maintenance and repairs of the common areas.  The Association fees also pay for the landscaping and, usually, trash removal.

Condo Association Rules

Associations also have rules.  They have regulations about what you can do with your property, including what kind of pets, if any, are allowed.  Most Associations don’t allow making changes to the exterior of the property.  You can paint the walls inside your condominium, but can’t paint the outside.

Neighbors

So you’ve found the condominium that works for you.  The next thing to consider is what kind of neighbors you’ll have.  Disruptive and noisy neighbors can ruin even the perfect condominium.  A good thing to do is stop by the condo at different times on different days, so you can get an accurate impression of what living there is really like.  Think about looking at the Association’s board meeting minute.  They’ll list what complaints the other owners have, and by looking at those you can get the big picture of life there.

Don’t let Association fees and close neighbors scare you away from condominium life.  While purchasing a Brooklyn condo is not simpler than buying a single-family home, living in one may be.

Thinking of buying a condo?  I can help.  Call me now Charles D’Alessandro of Fillmore Real Estate at (718) 253-9600 ext 206 or email me at [email protected]