According to RealtyTrac, 1 in 70 homes have received foreclosures notices since January, 2010 – a total of 1.7 million houses in the U.S. Was your Brooklyn home one of them? In previous blogs, we’ve covered several ways to avoid foreclosure, but a rising trend has brought another possibility to the forefront.

According to a recent Pew Research Center study, many individuals are surviving the economic blues by expanding their households. By the end of 2008, more than 16%, or 49 million, of Americans lived in a household with more than one generation. Although the statistics aren’t back yet for 2009 -2010, experts expect the numbers to be even higher.

These Americans aren’t all young college graduates moving back in with mom and dad, either. Parents have moved in with children, children with parents – somehow, even siblings have managed to live together in relative harmony. This trend spans across the board from single parents to elderly grandparents. According to the report, approximately one in five adults ages 25 to 34 and 65 + live in a multi-generational home.

Are you suggesting I let family members move in?

Actually, yes I am. Now, depending on your family dynamics, I realize this might be the equivalent of inviting World War III to your doorstep. However, if you face losing your Brooklyn home to foreclosure, you might at least stop to consider the possibilities. For instance:

• More working people in the household means more ability to pay the mortgage and stop the foreclosure.
• With more family members, you have a stronger family influence on children living in the home.
• With more people, responsibility is shared more.  You won’t need to do everything on your own.

No, it’s not an ideal situation. However, if you’ve said, “I’d do anything to keep my home,” did you mean it? Does the definition of “anything” include family World War III? Could you sit down with your family members, work out a set of compromises and live in harmony? If you’ve tried everything else, this may be your best bet for avoiding foreclosure on your Brooklyn home.

You never know; you may even come to like it.

If you’re looking for a home to support a multi-generational household, I can help. Call me 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 Downsizing Your Demands for a Home for Sale in Brooklyn

When you look for a mortgage, you want to find one that allows you to buy the biggest house possible for a monthly payment you can afford. This seems simple enough. All you need to do is a little division to determine your monthly payment.

Unfortunately, this isn’t the entire picture of your monthly mortgage payment, and lenders don’t always explain this to you. Here are three things you need to know about your monthly mortgage payment for your new Brooklyn home:

1. Interest and Principal. Only part of your monthly mortgage payment actually pays down your loan. A portion of your mortgage payment goes toward your loan principal and part of it pays the interest. The longer you have your loan, the more money goes toward your principal. Be aware that at the beginning of your loan term, most of your payment goes toward interest and does little to reduce the amount of money you owe on your home.
2. Homeowner’s Insurance and PMI. Typically, your lender collects money to pay your homeowner’s insurance premium. This increases the amount of your monthly payment and can change if your insurance company raises or lowers premiums. Depending on your loan amount and property value, you may also have to pay private mortgage insurance (PMI) which protects a lender against loss if you default on your loan.
3. Property Taxes. In most cases, your annual property taxes will be paid through your lender. The lender collects extra money each month that they pay to your local government at the end of the year. When local taxes increase or decrease, so does your payment.

Call me today at (718) 253-9600 ext.206 or email me at [email protected] to help you find the home (and mortgage provider) of your dreams.

Charles D’Alessandro

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

Brooklyn Real Estate Blog 10 Things to Do While Waiting for Your Brooklyn Home to Sell

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Selling a home is sometimes a long process. You can sit around worrying and wondering when you’ll have a buyer, or you can get busy to help the time fly.  Here are 10 things to do while waiting for your Brooklyn home to sell:

1. Clean. I’m sure you’ve already cleaned every part of your Brooklyn home to prepare it for sale. Make a game of it this time.  Time yourself to see how fast you can clean one room or one drawer.  Or, take out every type of cleaner you have and use it in each room.
2. Plant a container garden. The best part of a container garden is that you can take it with you. Plant some herbs or easy to grow vegetable plants, like tomatoes or cucumbers.
3. Sort through your magazines. Now you have the time to read all those magazine articles you’ve been saving.  Cut out coupons and recipes.  Send articles to your friends to let them know you’re thinking of them.  Throw out the magazines when you’re finished.
4. Clear the pantry and freezer. You don’t want to take all your excess food with you when you move. Clean out the pantry, and donate supplies to your local homeless shelter or food pantry.  Eat something from your freezer every day until it’s all gone.
5. De-clutter and eliminate. Clean out your makeup stash. Weed through the kids’ toy box. Do any small task that will lighten your moving load.  Ask yourself, do I really want to pack this item, move it and then unpack it?  If the answer is no, pitch it or give it away.
6. Finish crafts. Go ahead and finish the quilt or scrapbook you’ve been working on. This will help clean out your craft closet and will make packing your craft supplies that much easier.
7. Empty your medicine cabinet. Do you really need that bottle of medication from your surgery 12 years ago? Toss anything that’s out of date or that you no longer need to keep.
8. Save your digital photos to a disk. Choose only the photos you want to keep and save them to a CD or flash drive. You never know when your computer is going to crash.
9. Have a yard sale. You need to clean out your closets anyway. You might as well make some money off the items.

10.  Throw a barbeque. Take the proceeds of your yard sale and have a barbeque for you and your neighbors. Think of this as a going away party.

Take advantage of the time you have while waiting for your Brooklyn home to sell.

Need help selling your home?  Call me today at (718) 253-9600 ext.206 or email me at [email protected].

Charles D’Alessandro

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

Brooklyn Real Estate Blog How to Buy Brooklyn Real Estate after a Previous Bankruptcy

Many people have trouble relaxing, even in their Brooklyn homes. Why?  Frequently, it’s because of too much visual stimuli such as unfinished projects, knickknacks and clutter.

You may think the answer to being able to relax is to move into a “better” home.  However, what usually happens is that you move your unfinished projects and clutter with you.  Instead, if you take the time to get organized, you may find – like many owners who have backed out of a sale – that you don’t need to move, you just need to re-organize.

Take a moment from your busy, stressful life to read these tips and discover how you can improve and de-stress your personal castle:

1. Add money to your wallet. Unwanted or unused items can be turned into cash. eBay and Craigslist are two heavily-used websites where you can sell your unwanted/unused items.  Make a little cash and clear the clutter.

1. Be generous. If you don’t want to sell your items, don’t throw them away.  Donate them to places such as Goodwill.  Online, there’s FreeCycle, where you can share your items and give them away to those who really need them.

1. Keep it clean. Set up a system to decide what to do with mail. Many people end up with piles of mail throughout the house. Rather than letting it pile up, decide the day you get it where that mail goes: trash, take action or file away.

1. Include your family in the de-clutter process. After all, your spouse and kids live there, too. As well, if others have a chance to give their input, they may be more willing to keep your Brooklyn home organized. Let others in your family have a part in the decision-making process and implementation.

1. Take stray worry off your mind. You may be subconsciously worried about things in your home. Reduce the potential stress by creating a sense of safety. For instance, make sure your smoke detectors are working, that you have a radon meter (if necessary) and a carbon monoxide detector.

You may be thinking, “Home isn’t what stresses me out.”  Are you sure?  You might be pleasantly surprised how relaxed you’ll be when your home is de-cluttered. Your Brooklyn home can truly become a place where you leave the stress at the door.

If you’re looking for a home to relax in after a hard day, I can help. Call me now 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 5 Things I’ve Learned From Brooklyn Real Estate

We’re all trying to live greener lives, but nothing zaps your energy or your will to live greener in your Brooklyn home like summer heat.

The summer heat can also assault your wallet.  In fact, you can easily watch your utility bill double during the summer months.

Fortunately, there are some steps you can take to cool your Brooklyn home for less money and less impact on the environment this summer. Here’s how.

1. Prep your home. Turn off heat-generating lights and appliances.  Don’t use your oven. In the afternoon, close your windows and outside doors and keep window coverings drawn. At other times, use fans to create a cross breeze.

1. Raise your thermostat. When you’re not home, raise the thermostat to 80 degrees. Lower it two or three degrees when you are home and use ceiling fans to keep rooms cool. Moving your thermostat from 75 to 80 will lower your consumption by 15%. Your Brooklyn home will still feel comfortable, and you will notice significant savings on your next utility bill.

1. Take a look at your windows. You’d be surprised to find out how much heat enters your home from old, single pane windows. Newer energy efficient windows with double panes block more heat and keep more cool air inside. If you can’t afford new windows now, at least cover the ones you have with heavy curtains or shades to keep out heat.

1. Check for leaks. Leaky duct work and poorly sealed doors can let as much cool air out of your home as an open window. Walk around your home checking under your doors and around your windows to feel for escaping air. Hire a professional to check your air conditioning systems for you. Take the time to have duct leaks repaired and seal air leaks.

1. Dress appropriately. There’s no reason to keep your home so cold that you have to wear extra layers of clothing when you’re inside. Wear light, loose fitting clothing. You’ll be more comfortable in slightly warmer temperatures. Keep light throw blankets handy for anyone who easily gets cold under a ceiling fan.

Implementing even one or two of these tips in your home can save you money and help the environment.

Want to buy an energy efficient home?  I can help.  Call me today at (718) 253-9600 ext.206 or email me at [email protected] to learn more.

Charles D’Alessandro

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

Brooklyn Real Estate Blog Your Brooklyn Home For Sale: Reaching Out to the Buyer

Before you start looking for homes in Brooklyn, you need to decide whether to rent or buy. Each of these options has its own advantages and disadvantages. You need to look at your situation and decide which is best for you.

To help you with that decision, here’s an examination of the pros and cons of renting and buying homes in Brooklyn:

• Pros of Renting. Maintaining a home properly takes a certain level of time and commitment. When you rent, you are not responsible for the lawn, major repairs or maintenance. If you have to leave the area on short notice, you won’t be tied down to a home that needs to sell in order for you to move.
• Pros of Buying. Because of low interest rates and house prices, many renters find that their current rent payments are similar to what their mortgage payments would be. Unlike rent payments, mortgage payments add up and create equity in your home. Additionally, owning your own home provides tax deductions.
• Cons of Renting. The most significant con of renting is the fact that you get no tax deduction. If you have to move suddenly, you may have to pay extra money to break the lease. You may even have decorating restrictions, like not putting nails in the walls.
• Cons of Buying. To buy a home, you will need a down payment, which can be difficult for some people to acquire. There’s also the possibility that you may lose money on the home if you have to sell it before you’ve built equity in it or if your local market declines in value. Also, it can take considerable time and money to maintain homes in Brooklyn.

After you’ve considered all the pros and cons, there’s one more tool I recommend to help you make an informed decision: Use a free online rent versus buy calculator.

If you’d like help deciding whether buying or renting is right for you, give me a call today at (718)253-9600 ext 206 or email me at [email protected].  I’ll put together some current home prices to help you determine what your house payments would be, and I’ll also help you figure out what you can afford.

Charles D’Alessandro

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

Brooklyn Real Estate Blog Why Get Pre-approved for a Brooklyn Home Loan?

— @ WiseStamp Signature. Get it now

Do you enjoy watching birds?  Would you like to attract more of them to the yard of your Brooklyn home?  Luckily, you can with the right setting.  Here are 3 steps to transform your landscape into a bird’s paradise:

Step 1:  Provide a food supply for your feathered friends.

One of the easiest ways to do so is through birdfeeders.  To ensure a throng of birds inhabits your landscape throughout most of the year, place birdfeeders in areas all over your Brooklyn home’s yard.

Step 2:  Supply a source of water for birds to drink and bathe in.

Birdbaths are an easy solution and wide varieties are available.  Shallow basins or troughs will also do the trick.  However, since birds enjoy moving water, you may want to include a feature in your landscape that circulates water.

Step 3:  Offer a safe shelter to perch and rest.

Birds want a place safe from the elements and predators.  Evergreen trees like cedar, pine and spruce are a good choice, as they allow birds to crawl into them and keep predators out.  Ornamental trees are another good choice that will not only provide shelter but perhaps even some food in the form of berries or insects.  Trees that birds find attractive include crabapple trees, flowering dogwood trees and Japanese snowdrop trees.

In addition to trees, you may want to provide birdhouses.  These also serve as shelter, as long as they are deep enough to protect the nest and have a small hole near the top and a cleanout panel.  The size of the hole and orientation to your Brooklyn home determine what birds inhabit it.  To keep inhabitants comfortable and safe, place birdhouses in a quiet, shady spot and secure them firmly.

Turning your yard into a bird paradise takes some time and effort, but it’s all worth it when your landscape is flittering with feathered activity throughout most of the year.

Want to purchase a home with a yard that you can turn into a bird paradise?  I can help.  Call Charles D’Alessandro of Fillmore Real Estate now 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 Will Your Credit Stop You from Getting a Brooklyn Real Estate Loan?

April has a lot of important and semi-important dates in it. The tax deadline, Good Friday and Easter are just a few. What is April 5^th, though, and what does it have to do with Brooklyn homes for sale? Well, the biggest news is that the government has stepped into real estate and short sales.

Home sales are down nation-wide, despite the Obama administration’s efforts with the first-time buyer’s tax credit. Many homebuyers are waiting for a better interest rate or to see if home prices will drop more. Meanwhile, owners with Brooklyn homes for sale are preparing for the spring selling season, without any idea whether they’ll actually be able to sell or not.

Part of the reason for this situation is because of the depreciated housing values. For instance, many potential buyers want to take advantage of the repeat buyer’s tax credit, but can’t. They currently own a home that’s facing foreclosure, are trying to sell that home, but can’t because it’s underwater. This puts a wrench in the whole market.

The government’s solution is short sale. There’s always been the option for those facing foreclosure to opt for short sale, but (thanks, in part, to the many scams out there) few choose this option. The Obama administration has decided that, if they can’t help with foreclosure, they’ll pay people to accept short sale.

Starting April 5, 2010, the government is encouraging delinquent borrowers who can’t be helped through loan modification programs to go through a streamlined short sale process. Many potential short sellers have gotten offers the lenders won’t agree to, which this program called HAFA (Home Affordable Foreclosure Alternatives), is geared towards fixing. Here’s how:

• The servicing bank that allows the short sale gets $1,000.
• The homeowner gets $1,000 to go towards a second loan.
• The homeowner gets $1,500 in relocation assistance.

Even with this program, lenders are wary of short sales. Depending on the price of the short sale, there’s a possibility that lenders could lose a large amount of money. However, under the new program, real estate agents will be working with the lender to determine the value of the home and what the minimum price should be. If the short sale offer meets or exceeds that minimum, the lender has to accept it.

The hope is that this program will slow the tide of foreclosures, free homeowners up to become repeat buyers, sell more homes and, ultimately, improve the flow of the real estate market. The good news about all this is if the program does even a quarter of what the administration plans, there may not be enough Brooklyn homes for sale to go around!

Have questions about the new HAFA program or any other real estate incentive programs?  I’m happy to answer your questions.  Give me a call now at 718 253-9600 ext.206 or email me at [email protected].

Charles D’Alessandro

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

Whether you’re looking at Brooklyn homes, homes across the nation or homes abroad, there’s always the possibility of getting caught in a scam.

Many potential homebuyers and renters choose to go it alone and find the home of their dreams without professional help. While this method of house hunting works for some it definitely doesn’t work for all, and the consequences often far outweigh the benefits. Yes, the same can apply for home sellers as well!

Real Estate Scams

Here are a few real estate scams to watch out for:

• Down Payment Assistance Programs are wonderful gifts for potential buyers of Brooklyn homes. However, there are certain rules that have to be followed for this down payment gift to be legal. For instance, as a gift, the homebuyer doesn’t have to pay it back. Some unscrupulous companies offer Down Payment Assistance Programs but expect the money back. This isn’t a gift; it’s a loan, and illegal if the program is listed as “down payment assistance.”

• Property flipping scams happen when a con artist buys a home and sells it as an investment opportunity with zero down payment, no closing costs, low interest rate, etc. Although it sounds like a great deal, it becomes a scam when the house is severely overpriced and the buyer pays way more than the house is worth.

• Craigslist is an excellent resource for those wanting to buy or sell something. However, it is also a great source for con artists, who have turned their eyes to the real estate market. The scammers take information from legitimate listings on other websites (such as REALTOR® websites) and post it as their own on Craigslist. They often mention that they had to move for some reason, but can still rent/sell the home. All the buyers or renters have to do is send them their personal information and the first month’s rent or down payment.

It’s easy to get caught up in the excitement and forget to protect yourself. Be cautious when looking for  Brooklyn homes or selling them. Always check references and backgrounds. As well, if the home seller is in another country or another state, ask them if they’d be willing to use a local real estate agent.  Then be sure to verify the agent’s credentials.

If you want to buy or sell a house and need a professional, I can help. Call me at (718) 253-9600 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 A Tree Falls In Brooklyn- Brooklyn Real Estate A New Beginning!

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As Maria and I take our morning walk around Maine Park Brooklyn we are amazed by the devastation of the many fallen trees from the past storm, 60 in all! Some of the trees are as much as 80 years of age. Our thoughts where, how terrible this is all these trees we will never recover from this it may never be the same again,

Then we walked past to the Marine Park Nature Center, a little further ahead, there where many young trees that where planted a few years back. The trees where budding with flowers and new leaves.  The birds seemed to be getting ready to find the perfect spot to nest and raise their new families, spring is on its way.” A New Beginning”!

In my thoughts where the similarities with the Brooklyn real estate market for the past couple of years. Like the mighty oaks we have grown accustom to seeing each day, as we walk by them full of life expecting continued growth year after year, now is time for us to plant new trees for future generations to enjoy and watch grow.

2010 is that time for growth in our financial markets as well as the Brooklyn Real Estate market. Spring is on its way! It’s time for us to look for that nest to enjoy, and raise our families

The storm has past, time to clean up and start new. For some it may be time to clean up credit reports and others may want to go over their own financial statements and create goal to buy in the future. I believe it is time for a new beginning. Future generations will see 2010 as the beginning of their time of growth.

For others who have waited out the storm “The Clock Is Ticking”, the Federal Home Buyers Tax credit runs out on April 30^th and may never return. This may be you “Perfect Storm”, Low interest rates, fallen prices, Lots of Inventory to select from.

You do not want to be the one to look back and say I shouldda or couldda but didn’t! Make 2010 the time for your new beginning, and start building for your future If you are interested in finding your  Brooklyn home or creating a plan for one in the future call Charles D’Alessandro at Fillmore Real Estate my # is (718) 253-9699 or email me [email protected]

Charles D’Alessandro

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

Brooklyn Real Estate Blog Renting Your Brooklyn Home While You Wait for it to Sell

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