Your kitchen – the focal point of your Brooklyn home

By Charles D’Alessandro | Leave a Comment

Take a look at your kitchen. Is it dated? Are you looking to sell your Brooklyn home? If your kitchen is “way out there”, you may have a hard time selling.

Your kitchen is the focal point of your Brooklyn home. Buyers today are looking for a home with a kitchen that is easy to use, easy to clean and easy to look at. If your kitchen is dated, you many need to invest in a kitchen remodel. Even a minor remodel can recoup most of the cost when you sell. Just remember, consider what will appeal to a future homebuyer. Ultimately, the work you put into a remodel is work you are doing for yourself, but at some point, somebody else will live in the house. Don’t remodel in a way you may regret later. Don’t do something so edgy that you  end up asking yourself, “What on earth was I thinking?”

Here are the top 10 kitchen trends:

1. Chef’s stoves – Even if the buyer doesn’t cook, they want the stove look cool.

2. Eco-friendly features – Appliances and materials in the kitchen are important to a buyer.

3. Granite and quartz countertops – Granite tops the list.

4. Tile backsplashes – Most buyers prefer tile over marble, stone slab or other materials.

5. Floors – Hardwood flooring is hands-down the top choice for flooring.

6. Stainless steel – Well over half of homebuyers today want stainless steel appliances in their kitchens.

7. Islands – Islands aren’t really a must, but they are popular with homebuyers.

8. Transitional style – This is a style combination of traditional and contemporary styles.

9. White cabinets – Almost 75 percent of homebuyers want white or off white cabinets.

10. Gray color schemes – Shades of gray in the kitchen go well with white cabinets.

Consumer Tip – Real Estate Red Flags (1)

The majority of Brooklyn licensed real estate agents and brokers are well-trained professionals who can help make the process of buying or selling your home a successful venture rather than a stressful adventure. Occasionally, however, you may run into an unlicensed person posing as an agent, or a licensed agent who is not following the rules of the profession. In either case, your real estate experience can quickly turn sour. Here are a few Consumer Red Flags When Hiring Your Brooklyn Real Estate Agent I hope you find them helpful for your next real estate transaction.

Following are some “red flags” that may assist you in determining if you are NOT working with a legitimate or honest real estate agent. These tips are not intended to provide legal advice in drafting real estate related documents or provide detailed descriptions of the nature of relationships that may be created between agents and buyers and sellers.

Consumer Tip – Real Estate Red Flags (2)

Some “red flags” that may assist you in determining if you are NOT working with a legitimate or honest real estate agent. These tips are not intended to provide legal advice in drafting real estate related documents or provide detailed descriptions of the nature of relationships that may be created between agents and buyers and sellers.

• RED FLAG – Agents using high-pressure tactics, especially in an attempt to have you sign a purchase or listing agreement
  Tips-

  • Do not be pressured into entering into a purchase agreement based solely on the agent telling you there are multiple offers so you need to make your purchase agreement offer immediately. Multiple offers may exist but don’t be pressured into making a decision you are not comfortable with or if you do not understand the terms of the purchase agreement. If the sellers accept your purchase offer it becomes a legally binding contract. You may have to forfeit your earnest money deposit if you get “cold feet” and later decide that you just don’t want or like the property.
  • Do not be pressured into signing a listing agreement unless you are comfortable with the agent and understand and agree with the terms of the listing agreement including any marketing strategy.
• RED FLAG – Agents asking for earnest money or a down payment check made out to the agent…or asking for cash
  Tips-

  • Earnest money should be paid with a check or money order and made payable to the real estate company and not to the individual agent.
  • By law, earnest money must be placed in the listing company “trust account” and cannot be mixed with personal funds of the agent. Once the listing company receives the earnest money, it must be deposited within three business days. However, the buyer and seller may agree, in writing, to handle the funds differently.
• RED FLAG – Agents who do not provide answers to your questions about the property or fail to return your calls or maintain communication with you
  Tips-

  • By law agents are required to disclose all material facts they are aware of that may adversely and significantly affect your use or enjoyment of the property, such as existing structural or mechanical problems, water infiltration problems, easements or encroachments, or faulty septic systems.
  • Do not enter into a purchase agreement until your questions are answered. You also have the option of including “conditions” or “contingencies” in your purchase agreement. If your conditions or contingencies were not met, you would not be obligated to go through with the purchase. Some common contingencies are a buyer requiring a satisfactory home inspection report by a certain date and at the buyer’s expense. If the home inspection is unsatisfactory, the buyer can cancel the purchase agreement and obtain a refund of the earnest money.
• –RED FLAG Agents who don’t disclose who they represent
  Tips–

  • Whether you are buying or selling, it is important to understand the different types of relationships that can be created between you and an agent. Expect agents to act in the best interests of whomever they represent.
  • Agents must provide a consumer with an “agency disclosure” form at the first substantive contact with the consumer. The agency disclosure is intended to provide a description of available options for agency and nonagency relationships and a description of the role of a licensee under each option. The agency disclosure form is not a contract. If a buyer or seller wants an agent to represent them, a written contract must be entered into such as a listing agreement or a buyer representation contract. Following are the different types of agency relationships in real estate transactions:

  Seller’s Broker: A broker who lists a property of a salesperson who is licensed to the listing broker who represents the seller and acts on behalf of the seller.
  Subagent: A broker or salesperson who is working with a buyer but represents the seller. In this case the buyer is only the agent’s customer and is not represented by that agent.
  Buyer’s Broker: A buyer may enter into an agreement for the broker or salesperson to represent and act on behalf of the buyer. In this case, the agent represents the buyer only and not the seller.
  Dual Agency: Dual agency occurs when one broker or salesperson represents both buyer and seller, or when two salespersons licensed to the same broker each represent a party to the transaction. Dual agency requires the informed consent of all parties.
  Facilitator: A broker or salesperson who performs services for a buyer, a seller, or both but does not represent either in a fiduciary capacity – meaning the facilitator is not obligated to represent the best interest of either party.

• RED FLAG – Agents who will only show you properties they have listed
  Tips-

  • A Brooklyn real estate agent who you have entered into an agreement with should be acting in your best interest, not his or her own best interests. Agents should be willing to show you properties that they have listed as well as other company listed property and property that is For Sale By Owner (FSBO’s).
• RED FLAG – Agents who ask you to sign blank or incomplete documents
  Tips-

  • Do not sign any real estate related documents that are blank or incomplete. Most of these documents are legally binding.
  • Be wary if you are told, “Don’t worry about that section, we’ll fill it in later.”
• RED FLAG – Agents who require a listing agreement for extended periods of time
  Tips-

  • Do not be pressured into signing a listing agreement for lengthy periods of time. A typical listing period is six months but you can negotiate a shorter or longer listing period.
• RED FLAG – Agents who are difficult to contact or do not regularly communicate with the consumer
  Tips-

  • An agent who has your best interests in mind should be easy to reach.
• RED FLAG – Agents who do not provide a basis for a listing price
  Tips-

  • The agent should provide a market analysis with documentation to support the listing price.
• RED FLAG – Agents who attempt to talk you out of a home inspection or hiring a real estate attorney
  Tips-

  • Agents are prohibited from discouraging the use of an attorney. Hiring an attorney, while not required, may be desired and it’s your right to do so.
  • If an inspection is discouraged, it might be because there is a defect in the property.
• Make sure your agent is licensed
  Tips-

  • Visit New York Department of State Department of Licensing to verify that your agent has a current real estate license and to find out if there are any enforcement actions against him/he
• Tip-

  If you’re thinking about selling your Brooklyn real estate and would like more tips on how to get it ready, please call 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], for more information and a Free Market Price Evaluation without obligation!

If you’re considering selling your Brooklyn home, you may have heard rumors that there is a new tax going into effect in January, 2013. Here’s the rundown on what the tax really is – and isn’t.

The new tax is called the ‘‘Unearned Income Medicare Contribution.” It is a 3.8 percent tax on the net investment income of high-income taxpayers. The tax will apply to those with an adjusted gross income of more than $200,000 ($250,000 for joint filers), with no indexing for inflation.

The Good News

Odds are that you will never pay this tax.

Why You Most Likely Won’t Pay the New Tax

The tax will apply to capital gains, not sale proceeds. Because of the current exclusion of gains on home sales — up to $500,000 (joint) or $250,000 (single) on a primary residence — the vast majority of home sellers will not be required to pay this tax.

 Here’s an example: A couple with an adjusted gross income of more than $250,000 (which qualifies them for the tax — more than 90% of households make less than that) decide to sell their house. They purchased their Brooklyn home long, long ago for $50,000. They sell the house, miraculously, for $549,000. Because that profit of $499,000 is under the $500,000 profit exclusion amount allowed for couples, they owe no tax.

The Bottom Line

There are plenty of other taxes that are worth getting upset about; this isn’t one of them.

If you’re Considering Selling Your Brooklyn Home on selling a Brooklyn home, I can help. Give me a call 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].

Summer is quickly drawing to a close. That means you need do some serious evaluating in order to take advantage of the rest of the season’s long daylight hours and get your Brooklyn real estate sold.

So before you spend the evening catching fireflies and roasting marshmallows, buckle down and get s’more work done on your Brooklyn real estate. Below are five ways you can prepare your home and yourself for the big sale!

Host a block-party barbecue. People in the neighborhood are a great resource to tap into to market your home. Host a party to tell them your plans and allow them to see your home. If they have a friend they want to have nearby, they might just sell your house for you.

1. Make your yard memorable. Summer is the ideal time to spruce up your curb appeal so that your home makes a good first impression on potential buyers.
2. Repair the roof. This can be a big expense, but it is also one of the first things that home inspectors note. If it needs repairs, do it now. If you don’t, it could cost you more money when it comes time for closing negotiations.
3. Eliminate odors. Buyers want to imagine themselves living in the home, not be distracted by how they’re going to get the summer-intensified smell of your pet out of the carpet.
4. Know your minimum price. You need to prepare yourself for the numbers game. Do your research using comparables to determine what your house will most likely go for and what you’re willing to accept.

 Use what’s left of summer to make your Brooklyn home stand out from the rest! You’ll sell quickly and can start looking forward to next summer in a new home — maybe one with a pool.

If you’re thinking about selling your Brooklyn real estate and would like more tips on how to get it ready, please call 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], for more information and aFree Market Price Evaluation without obligation!

With the London Olympics kicking off this month, athletes from all over the world are putting their competitive strategies into place to be one step ahead of the competition and go for gold. Channel the world’s champions this summer to establish a game plan, analyze what’s worked in the past and beat out the competition by presenting your Brooklyn home at its best!

Athletes constantly stay informed on the statistics of their biggest competitors, and so should you when it comes to selling your Brooklyn home. Below are the basic components to consider when using comparables to price your real estate:

Make sure the comparable house has sold. Before using a property as a comparable, it needs to have sold so that you know the selling price. Consider the original listing price as compared to the selling price of the home, when developing your winning strategy. Pay close attention to price reductions and how many months the house was on the market. These are essential indicators to pricing your property right the first time.

• Look to see if it is the same type of home as yours. Find comparable sales that are similar to your home in square footage, style, construction material, number of bathrooms and bedrooms and other amenities.
• See if it’s in the same location. Real estate pricing is largely based on location, so make sure any houses you consider as comparables are close to your own house or in proximity to the same conveniences.
• Double-check the research. Just because someone hands you papers that they claim to be comparables doesn’t mean they actually are. You know your house best, so do your own research and read the fine print to make sure that the comparables you’re using to determine your property’s resale value are a good match.

Starting off on the right foot might help you sell your house faster than an Olympic track star. Dedicate yourself to researching comparables so that you can contribute educated facts when discussing the list price of your Brooklyn home.

If you need help pricing your property or need a real estate agent to help you beat out the competition, please call 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].for more information.

Call Charles for help with your Brooklyn Short Sale

Whether you own a property in distress or you’re looking to make a good investment. Buying or selling Brooklyn short sales can be tricky ,and a frustrating process. The best-case scenario is that sellers reduce their debt and buyers get a great deal, but that outcome is ultimately up to the bank.

Below are some standard short sale trials that both sellers and buyers should be aware of before getting their hopes up:

Sellers need to prove hardship. As a seller, you should talk with your bank and then gather all of the documents they require to put together a hardship portfolio to apply for a short sale. These usually include tax returns, employment status and other personal and financial information. Be quick about it, because the bank has the final say, and you don’t want to leave them hanging.

• Everyone needs to get used to the waiting game. This is probably the most frustrating part, so don’t plan your life around a bank’s approval. They could take anywhere from a couple days to a couple years to make a decision.
• Banks are waiting on banks. Not only are you waiting on the bank that has the mortgage, but there could also be other liens taken out against the short sale. Those third parties also have to sign off on the debt.
• Buyers should get a thorough home inspection. If you’re considering buying a short sale property, make sure you hire a professional home inspector.
• The home could go into foreclosure. Sometimes [city] short sales take so long that the owners cannot keep paying their mortgage and the home goes into foreclosure. Then the bank takes it over and starts a new waiting game.

If you’re considering buying or selling short sales, you’ll want to enlist professional help to navigate the tricky waters. As an expert on Brooklyn short sales, I can help. Please call me  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]. for more information.

Economists say and statistics show that there are true signs of improvement in the most recent housing figures for U.S. and Brooklyn real estate markets. Here are a few of those stats:

Investors bought 1.23 million homes in 2011, up 64.5 percent over 2010, according to data from the National Association of REALTORS®. 

• The median investment-home price was $100,000 in 2011, up 6.4 percent from $94,000 in 2010.
• Single-family home sales rose 3 percent in April.
• New home sales increased 3.3 percent in April, according to new Commerce Department data.
• Sales of existing homes rose in April, up 10 percent from April of 2011.
• The median price of existing homes nationwide also moved up to $177,400 from $164,800. This is the biggest year-to-year gain since January, 2006.

In addition to good news in both nationwide and Brooklyn real estate, there’s also good news about the economy:

Economic growth is now projected to grow by 2.4 percent this year, up from a 2.2 percent forecast in February.

• The new job creation forecast, which is the most watched economic indicator, has also improved. The data now shows that 188,000 new jobs will be created each month this year, which is up from the 170,000 new jobs per month forecasted earlier this year.

As you can tell from this data, if you want to buy Brooklyn real estate while prices are at their lowest, you shouldn’t wait a minute longer. Give me a call today at 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].. to get started!

 Most property owners getting ready to sell their Brooklyn real estate understand the importance of cleaning, de-cluttering, updating and staging in order to make a quick sale. However, there are also many other steps you can take to ensure your home appeals to potential buyers, draws them in and seals the deal.

Below are five tips to help you not only get your house in tip-top shape, but also make it extremely marketable:

1.     Find a good Brooklyn real estate agent. While many people think they can sell their home themselves and save money, they’re wrong. Relying on a professional’s expertise and experience has been proven to net you a bigger profit — and definitely reduce your stress and frustration.

1. 2.      Clean and de-clutter. While this goes without saying, we’re going to reiterate it anyway. Make sure your home is spotless and depersonalized. You also might want to consider hiring a staging professional to make it inviting and memorable.
2. 3.      Have your home inspected. Many sellers are getting their property pre-inspected so they can head off any potential deal breakers. If an inspector finds a major issue, you might want to hold off putting the home on the market until you get it fixed.
3. 4.      Offer a home warranty. Especially if you have an older home, you should consider sweetening the deal with this tempting proposition. While you know your water heater works perfectly fine, today’s buyers want everything new and might be wary of used appliances. So, set their minds at ease, even if it’s just for a year.
4. 5.      Develop a marketing strategy. Utilize your real estate agent and come up with a solid plan for marketing your home. Whether listing just on the web or also in local classifieds, you want to make sure as many eyes as possible see your home.

Don’t jump into the market without doing your homework! Follow these five tips and you’ll be on the way to setting up your Brooklyn real estate for a quick sale.

If you’d like more strategies for getting your home in order before putting it up for sale, please call 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]..

Pricing your real estate right is essential to a quick sale

Pricing for your real estate right is  essential it is the most important factor to get it sold quickly and at a price you’re happy with. Why is it so important?

A high price can turn people away. Pricing doesn’t just influence how much money you’ll make off the sale of your Brooklyn real estate, it also dictates whether buyers will even take the time to look at your home. Price your home too high and it could sit on the market for months until you lower your asking price. Identify your home’s true value in today’s market, and set the price slightly under that price if you want to sell your home as quickly as possible.

• • Your home’s appeal drastically decreases after the first two to three weeks of showings. The amount of traffic that a listing gets in its first week is five to seven times higher than it gets in the following weeks. Buyers are wary of a home that’s been on the market for a long time. They suspect that something’s wrong with it.
  • Buyers shop by price brackets. If your home is priced one hundred dollars too high or too low, it can move your home into a different price bracket and exclude an entire set of potential buyers from even seeing that your home is for sale. Being in the wrong price bracket can reduce traffic to your listing by as much as 7%. Price brackets vary by market and by price. An experienced agent will know the best price bracket for your Brooklyn  real estate.
  • There’s a lot of competition. With so many homes for sale, yours has to stand out as a good value immediately or buyers will move on.
  • Dropping your sales price can be the kiss of death. If you need to lower your price, you’d better make it a reduction that counts. Small reductions give buyers the idea that you might drop it again a month from now. Buyers will realize you’ve dropped the price. The best listing sites show how many times a price has been reduced and by how much.

Pricing your home right is essential when it first hits the market is the key. Let me help you set the right price and position your home in the best price bracket to get it sold. Call me today  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]..

Located in the heart of Brooklyn’s Midwood community

– This detached central hall home for sale boasts a large living room and formal sized dining room,

3 spacious bedrooms + a first floor den, a bathroom on each floor, plenty of closets,

a huge 3 room finished basement with laundry room and bathroom,

private driveway and garage on large property. Priced to sell!

For more information, please call

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]