1. HOW DO I KNOW IF I’M READY TO BUY A HOME?

You can find out by asking yourself some questions:

	Do I have a steady source of income (usually a job)? Have I been employed on a regular basis for the last 2-3 years? Is my current income reliable?
	Do I have a good record of paying my bills?
	Do I have few outstanding long-term debts, like car payments?
	Do I have money saved for a down payment?
	Do I have the ability to pay a mortgage every month, plus additional costs?

If you can answer “yes” to these questions, you are probably ready to buy your own home.

2. HOW DO I BEGIN THE PROCESS OF BUYING A HOME?

Start by thinking about your situation. Are you ready to buy a home? How much can you afford in a monthly mortgage payment (see Question 4 for help)? How much space do you need? What areas of town do you like? After you answer these questions, make a “To Do” list and start doing casual research. Talk to friends and family, drive through neighborhoods, and look in the “Homes” section of the newspaper.

3. HOW DOES PURCHASING A HOME COMPARE WITH RENTING?

The two don’t really compare at all. The one advantage of renting is being generally free of most maintenance responsibilities. But by renting, you lose the chance to build equity, take advantage of tax benefits, and protect yourself against rent increases. Also, you may not be free to decorate without permission and may be at the mercy of the landlord for housing.

Owning a home has many benefits. When you make a mortgage payment, you are building equity. And that’s an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial. But given the freedom, stability, and security of owning your own home, they are worth it.

4. HOW DOES THE LENDER DECIDE THE MAXIMUM LOAN AMOUNT THAT CAN AFFORD?

The lender considers your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support. According to the FHA,monthly mortgage payments should be no more than 29% of gross income, while the mortgage payment, combined with non-housing expenses, 4 should total no more than 41% of income. The lender also considers cash available for down payment and closing costs, credit history, etc. when determining your maximum loan amount.

5. HOW DO I SELECT THE RIGHT REAL ESTATE AGENT?

Start by asking family and friends if they can recommend an agent. Compile a list of several agents and talk to each before choosing one. Look for an agent who listens well and understands your needs, and whose judgment you trust. The ideal agent knows the local area well and has resources and contacts to help you in your search. Overall, you want to choose an agent that makes you feel comfortable and can provide all the knowledge and services you need.

6. HOW CAN I DETERMINE MY HOUSING NEEDS BEFORE I BEGIN THE SEARCH?

Your home should fit way you live, with spaces and features that appeal to the whole family. Before you begin looking at homes, make a list of your priorities – things like location and size. Should the house be close to certain schools? your job? to public transportation? How large should the house be? What type of lot do you prefer? What kinds of amenities are you looking for? Establish a set of minimum requirements and a ‘wish list.” Minimum requirements are things that a house must have for you to consider it, while a “wish list” covers things that you’d like to have but aren’t essential.

FINDING YOUR HOME

7. WHAT SHOULD I LOOK FOR WHEN DECIDING ON A BROOKLYN COMMUNITY?

Select a community that will allow you to best live your daily life. Many people choose communities based on schools. Do you want access to shopping and public transportation? Is access to local facilities like libraries and museums important to you? Or do you prefer the peace and quiet of a rural community? When you find places that you like, talk to people that live there. They know the most about the area and will be your future neighbors. More than anything, you want a neighborhood where you feel comfortable in.

8. WHAT SHOULD I DO IF I’M FEELING EXCLUDED FROM CERTAIN NEIGHBORHOODS?

Immediately contact the U.S. Department of Housing and Urban Development (HUD) if you ever feel excluded from a neighborhood or particular house. Also, contact HUD if you believe you are being discriminated against on the basis of race, color, religion, sex, nationality, familial status, or disability. HUD’s Office of Fair Housing has a hotline for reporting incidents of discrimination: 1-800-669-9777 (and 1-800-927-9275 for the hearing impaired).

9. HOW CAN I FIND OUT ABOUT LOCAL SCHOOLS?

You can get information about school systems by contacting the city or county school board or the local schools. Your real estate agent may also be knowledgeable about schools in the area.

10. HOW CAN I FIND OUT ABOUT COMMUNITY RESOURCES?

Contact the local chamber of commerce for promotional literature or talk to your real estate agent about welcome kits, maps, and other information. You may also want to visit the local library. It can be an excellent source for information on local events and resources, and the librarians will probably be able to answer many of the questions you have.

11. HOW CAN I FIND OUT HOW MUCH BROOKLYN HOMES ARE SELLING FOR IN CERTAIN COMMUNITIES AND NEIGHBORHOODS?

Your real estate agent can give you a ballpark figure by showing you comparable listings. If you are working with a real estate professional, they may have access to comparable sales maintained on a database.

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]

The ongoing debate as to whether selling your Brooklyn New York real estate is better as a FSBO or with the help of a REALTOR® just got some new ammunition.  The new survey supports past findings that using a REALTOR® is more beneficial to Brooklyn New York real estate sellers.

The survey, conducted by HomeGain.com, a leading online real estate resource that connects home buyers and sellers with real estate professionals, surveyed over 1,000 homeowners.   Here’s what HomeGain’s survey found:

• 83% of homeowners surveyed said they used a REALTOR® to sell their home and 17% said they tried to sell their home on their own.
• 59% of homeowners that used a REALTOR® to sell their homes were successful vs. 39% of FSBO’s, reflecting a 50% higher closing rate for those home sellers using a REALTOR®.
• 81% percent of homeowners that used a REALTOR® to try and sell their homes said they would use a REALTOR® again for their real estate needs.
• 88% of homeowners who sold their homes using a REALTOR® said they would use a REALTOR® again.
• 71% of FSBOs who managed to sell their Brooklyn homes on their own said they would try and sell their Brooklyn homes on their own again.
• 24% of FSBOs eventually enlisted the aid of a REALTOR® to help sell their homes.

If you’re ready to use the method most likely to get your Brooklyn New York real estate sold, give Charles D’Alessandro Your Brooklyn Realtor® with Fillmore Real Estate a call today at (718) 253-9600 ext 206 or email me at [email protected]

Ideally, to make a room light and bright you want a lot of large windows that let in natural light. Unfortunately, most of us don’t have large windows in every room of our Brooklyn homes.  So, what do we do to brighten those dark rooms?

Increase Natural Light

If a room has one large window, make the most of this natural light by placing a mirror opposite that window.  The mirror will scatter and reflect the ambient daylight throughout the room.

Add Artificial Light

Another great way to lighten window-challenged rooms in your Brooklyn home is to add artificial ambient lighting.  Ambient lighting, whether natural or artificial, sets the tone and mood of each room. Here are several ways to add artificial ambient light to your rooms:

• Recessed fixtures: Recessed fixtures throw light downward in a cone shape, so place them in an evenly spaced grid pattern. This allows pools of light to overlap and provide consistent lighting.

• Chandeliers: A chandelier can overpower a room if it’s too big or seem out of proportion if it’s too small.  To calculate the best size chandelier for your room, measure the width of the room in feet.  Double that number to get the diameter of the ideal chandelier in inches.  For example, a room that’s 10 feet wide should have a chandelier no wider than 20 inches in diameter.

• Surface-mounted fixtures: Unlike recessed fixtures, surface-mounted fixtures do not disappear into the ceiling or wall.  If you want to achieve a unified look, match the color of the surface-mounted light with the color of the ceiling or wall. Surface-mounted lights come in a wide range of styles.  They can be very functional fluorescent types with white diffusing plastic covers or decorative crystal designs that add sparkle and drama to the foyers and hallways.

The best ambient lighting is subtle lighting that comes from all directions and softens the look of your room, making it more livable.

Looking for a Brooklyn home with a lot of windows or well-place ambient lighting?  I can help.  Call Charles D’Alessandro of Fillmore Real Estate today at (718) 253-9600 ext.206 or email at [email protected]

FHA loans are mortgages issued by qualified lenders, including traditional lenders like Citigroup and Wells Fargo, and insured by the Federal Housing Administration (FHA).  The popularity of these loans are skyrocketing and for good reasons.  They feature low down payments, low closing costs and are easier to qualify for.

Despite this popularity, there are many misconceptions surrounding FHA loans.  Here are just a few myths and the facts behind them.

Myth #1: FHA only loans small amounts to buyers of Brooklyn homes.

Fact: To help stabilize the real estate market, the government recently raised the maximum loan amount from its original cap of $362,790 to $793,750. The FHA loan amount a buyer can borrow varies by state and county.

Myth #2:  FHA loans are exclusively for lower-income borrowers.

Fact: FHA loans are available to everyone. There are no maximum income restrictions.  Potential borrowers must verify income and assets to ensure they can afford the loan.

Myth #3:  FHA loans are exclusively for first-time buyers of Brooklyn homes.

Fact: Whether Brooklyn home buyers are making their first home purchase or their twentieth, they can potentially qualify for an FHA loan.
Myth #4: FHA loans are affiliated with the low-income housing program.

Fact: FHA loans have nothing to do with the Section 8 Housing Program or any other low-income or subsidized housing programs. FHA loans are simply mortgages insured by FHA.

Myth #5: FHA loans are risky.

Fact: FHA loans are often easier to obtain, but that does not make them riskier.  The FHA requires full documentation of borrowers’ income and assets to ensure they can afford the loan.

If you’re ready to look at Brooklyn homes to buy, whether you’ll be using an FHA loan or a non-FHA loan, I can help you find your perfect home.  Give me a call Charles D’Alessandro of Fillmore Real Estate at (718) 253-9600 ext 206 or email me at [email protected]  to get started.

Here’s a test for you. Walk outside of your home and take several deep breaths, blowing the air out of your nose. After about five minutes, blow out all the air, hold your breath and walk into your house. In one of the rooms closest to the center of the house, inhale deeply through your nose. What do you smell?

Even the most diligent clean freaks may smell something in their Brooklyn homes other than “clean.” For instance, if you’ve run your air conditioner for several months, you may have problems with mold, insect particles, dust, microscopic carpet particles and other air pollutants.

Once you’re done shuddering, follow these few tips to improve the scent of your inside air:

1. Replace your Brooklyn home’s air filters on schedule. Pay attention to the manufacturer’s guidelines on the filters you use for your heating and cooling unit and replace them when instructed.

1. Look for heavy deposits of dust or mold in your air ducts at least twice a year. If you aren’t sure whether your ducts need to be cleaned, ask your heating/cooling provider for advice. Also, the EPA website has a comprehensive informational resource on whether or not you should clean your air ducts. At the very least, vacuum the gratings when dust and dirt collect on them.

1. Clean your window treatments regularly. They can collect dust, dirt, spores and other pollutants. Cleaning them three or four times a year will keep down the amount that collects.

1. Keep toothbrushes and other hygiene products in your medicine cabinet. Although this has nothing to do with air quality, it has everything to do with health. As well, make sure you close the lid before flushing the toilet after use.

1. Regularly check for mold throughout your house, signified by a wet, musty smell. If you find mold and it’s a small amount, you can clean up the mold yourself. If you can’t find it but can still smell it, you may want to have a professional inspect your home and then clean up anything they find.

There are many ways to improve the air quality of Brooklyn homes. These are just a few. If you’re serious about improving the air you breathe, I strongly recommend using the EPA website’s Indoor Air Quality section for more ways to rid your home of pollutants.

If you’re looking for a home that smells great and meets the EPA Indoor airPLUS Program and guidelines, I can help. Call me today at (718) 253-9600 ext 206 or email me at [email protected].

Don’t you just love it when the evening news finally shares some good news?  I do too!  So, I want to do my part and share some good news with you today:  Brooklyn homes and homes nationwide are becoming more affordable.   In fact, according to the National Association of REALTORS®, housing affordability is close to reaching an all-time high.

Big Benefit to Buyers

Exactly how does this benefit the buyers of Brooklyn homes?  A typical buyer can pay much less in mortgage costs for the same home, or buy a better home without increasing their monthly payment.

Reasons for Improvement

There are several reasons housing affordability is improving:

1.      Lower mortgage rates.  The primary reason Brooklyn homes are now more affordable is that we have the lowest mortgage rates in history.

2.      Declining house prices.  As with all things real estate, local markets dictate housing prices, but, overall, prices of homes have dropped across the nation.  Some markets encountered only minimal price declines while others experienced major declines.

3.      Higher wages.  You probably don’t feel like there’s been an increase in wages, but there has been a small one.  In 2009, the average wage rate rose 3 percent and is up an additional 1.2 percent so far this year.

The Bottom Line

If you’d like to buy a home, have good credit and a steady job, the real estate market has never looked more favorable.

Ready to buy a home?  Let me help you find the home of your dreams and get it at a great price.  Call Charles D’Alessandro of Fillmore Real Estate today at(718)253-9600 ext.206 or email me at [email protected]

Here are the top 10 reasons people sell their Brooklyn homes.

Selling a home is never an easy decision.  If you’ve ever wondered how most people make this decision, you’ll enjoy this top 10 list.  Here are the top 10 reasons people sell their Brooklyn homes.

1.      Death or divorce. Death and divorce can cause major changes to a family’s financial situation. Homeowners are often unable to cover the maintenance and cost of the home on a single income and are forced to sell their home.

2.School district. People move to certain neighborhoods to be in the school district. They also leave neighborhoods because the schools have changed or to be in a district that better meets their child’s needs.

3.      Job. A very common reason for selling a home is a job change. The family may need to move to a new area because of a new job. A job loss can mean the owners can no longer afford their home.

4.      Marriage. When a couple with separate homes marries, they often choose to live in one home and sell the other. Marriage can also mean a change in finances.

5.      Too much debt. Sometimes medical bills or consumer debt can become so overwhelming that homeowners have no recourse but to sell their Brooklyn homes. Homeowners may sell their homes to avoid foreclosure or bankruptcy.

6.      Need more space. Growing families need more space. A couple may discover that their cozy bungalow does not meet the needs of their small children. They may sell their home so they can upgrade.

7.      Need less space. As children move out, some owners may find they need less space. They may no longer want to be responsible for cleaning and maintaining a large home.

8.      Neighborhood. Neighborhoods change as people move in and out. What seemed like the perfect area when the owners bought their home may no longer fit their lifestyle. For this reason, people sell their Brooklyn homes.

9.      Climate. People living in the north may decide they want a break from the snow. Residents of the south sometimes want to be in a cooler climate.

10.  Home defects. Homeowners may find themselves faced with major repairs that they don’t have the time or money to fix. Selling their home and moving is sometimes a better option.

Trying to decide if you’re ready to sell?  I can help. Call me today at (718) 253-9600 ext.206 or email me at [email protected] for more information

Charles D’Alessandro

[email protected]
tel 718 253-9600
fax 718 253-9573

Brooklyn Real Estate Blog 6 Tips for Selling Your Brooklyn Home During the Holidays

Thanksgiving is coming soon to Brooklyn homes near you. It may even be coming to your home, bringing friends, family, good food and happy memories. In the midst of all the activity, take time to think about what you’re thankful for this year.

The last year has been hard for hundreds of thousands of individuals and families. Some who, at the beginning of the year, had a good job, nice house they could afford, 2.5 kids – you know, living the American dream – are now trying to figure out where their next meal is coming from. Some are trying to figure out where to sleep tonight.

Many homeowners – those with Brooklyn homes and homes elsewhere across the nation – seem to think these people must have “done something” to be in their current situation. They believe that as long as they don’t “do something,” they won’t experience similar problems.

This belief is far from the truth. Not all, but most, Americans struggling today paid their bills on time, went to work every day and were just regular, responsible people. Their place of employment closed or their jobs were cut and, with hiring freezes, they couldn’t find new jobs. They could no longer afford their mortgages. The banks foreclosed. This is the true story of all too many people across the U.S.

Did they really do anything? Could they have stopped the companies from letting them go or closing? Could they have forced someone else to hire them?

As Thanksgiving draws near, I urge you to take a look at your own situation. Whether you hate or love your job, be thankful you still have one, when thousands don’t. Look around your warm, safe home and be thankful you can still afford it – even if it’s underwater and/or losing equity. You know where your next meal is coming from – even if you can’t decide whether it’s chicken or burgers tonight.

Be thankful for your Brooklyn homes, your jobs, your families and your good, full life. I know I am. This Thanksgiving, take time to let go of the cares of the world; just enjoy what you have and with whom you have to share it.

Finally, I’d love to hear what you’re especially thankful for this year, so please feel free to add your comments below. I wish you a Happy Thanksgiving for many years to come!

Charles D’Alessandro

[email protected]
tel 718 253-9600
fax 718 253-9573

Brooklyn Real Estate Blog Brooklyn Homes for Sale – Home Selling Questions Answered

Many real estate agents say, “Stage your Brooklyn homes for sale!” If you have no idea what that means, you might Google it, read a few articles and get the idea that you throw a little rented furniture into your home and call it done. If you read a little bit more, you might add a mirror or potted plant here and there. However, if you really dig into it, you’ll find that staging Brooklyn homes for sale take a whole lot more than that.

Test Your Knowledge

Did you know…

• Smaller furniture in small areas makes the space appear bigger.
• Carefully arranged plants bring warmth to a living area.
• Rugs and artwork add depth and dimension to a room.
• Sunlight shining through a window makes a room feel warm and inviting.
• A staged bedroom is as important as the bathroom and kitchen.
• The colors you choose can make the difference between a sale and a flop.

If you didn’t know any of the above, it’s time to do your learn how to stage or hire a professional stager. Why? Home staging has been proven time and again to be one of the best steps to take to sell a home quickly and for more money.

Find Home Staging Resources

There are tons of online resources available to help you stage your home, if you’d rather do it yourself. Here are just a few, in no particular order:

1. Field Guide to Preparing and Staging a House
2. Home-Staging Cheat Sheet
3. Staging to Sell: The Secret to Selling Homes in a Down Market

Hire a Professional Stager

Does this mean you can’t do it yourself? Not at all. You just need to ask yourself two questions:

1.      Can you afford to wait to sell your house while you’re learning how to stage your home?

2.      Even after researching and studying, will you be able to do a quality staging job?

If you can’t afford to wait or you’ll never be great at staging, hire a professional.

What’s the moral of the story? If you have one of the Brooklyn homes for sale and you’ve been considering home staging, stop considering. Do it!

Need help preparing your home for sale?  I can help. Call me today at (718) 253-9600 ext 206 or email me at [email protected] for more information.

Charles D’Alessandro

[email protected]
tel 718 253-9600
fax 718 253-9573

Brooklyn Real Estate Blog Slow Markets and Brooklyn Homes: Bringing Them Together for the Sale