If you’re considering selling your  home in Brooklyn New York, you probably already know most of the questions you should ask Brooklyn real estate agents you’re thinking of hiring, such as:

• How long have you been a Brooklyn real estate agent?
• Are you a full-time REALTOR®?
• Do you specialize in my Brooklyn neighborhood?
• How would you market my home?

Unfortunately, most sellers forget one of the most important questions to ask  Brooklyn real estate agents:  How many of the homes you listed in the last 12 months actually sold?

The answer to this question gets to the heart of whether the agents are good at selling real estate. They’ll have very few sold homes in comparison to the number of homes they listed, if they:

• Over-price homes
• Under-market homes
• Don’t know how to negotiate
• Aren’t good at (or simply don’t do) the multitude of tasks knowledgeable real estate agents perform to get homes sold

If you discover that an agent has a higher percentage of listings that are withdrawn or expired and not renewed than other agents in the same area, keep looking.

Searching for an agent who gets homes sold?  Congratulations, you’ve just found one ! Charles D’Alessandro Your Brooklyn Realtor®. I’d be honored if you’d give me a chance to interview for the job of selling your Brooklyn home.  Please call me at (718)253-9600 ext.206 or email me at [email protected] to schedule an interview.

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].

Are you a first-time home buyer?  There are a lot of things you’ll want to learn before making that first purchase.  Here are 9 tips to help you get a Brooklyn New York home you’ll love and be prepared for additional costs you may not have considered:

1. Ask yourself if you’re ready. Are you financially ready to buy a Brooklyn New York home?  Do you have a steady job and income?  Do you have money for the down payment?

2.      Get pre-approved. When you get pre-approved for a mortgage loan, your lender checks your credit and lets you know the amount of mortgage for which you qualify.  Having a pre-approved loan will put you at the top of the list when presenting an offer.

3.      Identify closing costs. The cost of closing on the sale of your Brooklyn New York home shouldn’t be overlooked. Closing costs include origination fees, title and settlement fees, taxes and prepaid items such as homeowner’s insurance or homeowner’s association fees.

4.      Calculate your total monthly housing cost. Include taxes and homeowners insurance.  In some areas, what you’ll pay for your taxes and insurance escrow almost doubles your mortgage payment.

5.      Include home maintenance expenses in your budget. Maintaining your investment can be labor-intensive and expensive. Unexpected costs for new appliances, roof repairs and plumbing problems can drain your bank account.

6.      Find a Brooklyn home. Identify the neighborhood, you want to live in.  Hire a full-time REALTOR® who specializes in that neighborhood to help you find and negotiate the purchase of the home.

7.      Get a home inspection. Make sure your agent includes a home inspection contingency in your offer to buy a home. If you’re unsatisfied with anything found in the home inspection, have your agent negotiate with the seller to make repairs, pay for repairs or lower the price.

8.      Make it to closing. You have your financing, your offer has been accepted, and you’re anxiously awaiting the day you close on your home.  Now, you just have to make sure you don’t do anything to jeopardize your credit.  Do not change jobs, buy a new car or apply for credit cards.

9.      Celebrate. Congratulations!  You’re now the proud owner of your first home.

Buying your first home can be exciting, especially if you’re knowledgeable about the process and prepared. Follow me for more Questions &  Answers About Buying a New Brooklyn Home .

If your goal for this year is to be a first-time homeowner, let me guide you through the process of finding and buying a home. For a FREE copy if Michael Reinhardts book “Buying Real Estate does Not Have To Be Stressful, call Charles D’alessandro your Brooklyn Realtor® of Fillmore Real Estate today at (718) 253-9600 ext 206 or email me at [email protected] for more information.

For some frustrated sellers, the answer to “Why isn’t my Brooklyn home selling?” is “It’s the agent’s fault!”  If your immediate instinct is to drop your Brooklyn NY real estate agent for a new one, you might want to take a deep breath and consider the following:

1.      Do you think agents are like lottery tickets? Going through Brooklyn real estate agents as fast as scratch-off lottery tickets isn’t going to get your home sold faster.  In fact, it usually slows down the process.

2.      Is your Brooklyn home priced correctly? That’s probably the number one difference between homes that sell fast and homes that sit on the market.  A poorly priced home could be your real estate  agent’s fault.  Then again, you could be partially to blame.  Did you insist on a specific price even though your agent strongly recommended a lower price?  Did you refuse to lower the price when your agent suggested lowering it?  If you’re inflexible about price, switching agents will not help.

3. Did you make the home improvements recommended by your Realtor©? If your agent suggested you paint, clean carpets, reduce clutter or complete any other inexpensive, easy-to-accomplish task, and you didn’t do it, you’re greatly reducing your opportunity to get your home sold.  You chose to work with your agent because he is a knowledgeable professional.  Take his advice and get those home improvement tasks done now.

4.      Has your listing agreement expired? If your listing contract has expired, this is the perfect time to consider switching agents.  Go back to the start, identify 3 new agents and interview the agents.  If you find one that fits your needs better than your current agent, let your agent know you won’t be renewing your contract.

5.      Did your agent market your home? If your agent has not done all the marketing he promised, point this out and ask him when he’ll get the marketing in place.  Follow up to be sure it’s done on time and professionally.  If he still doesn’t market your home like he said he would, it may be time to switch agents.

6.      Are you being impatient? If you made all the home improvements recommended by your agent, your home is properly priced, and all marketing tasks are completed, you may just need to have a little patience.  This is a slow real estate market.  That means your home isn’t going to sell overnight.  Ask your agent the average number of days it takes a home to sell in your area, then wait that length of time before thinking about changing agents.

Don’t replace your agent just because you don’t know what else to do.  You’ll be wasting time and effort.  Instead, work with your agent to determine what else can be done to get your home sold.

If you decide to search for a new Brooklyn real estate agent, I’d be honored if you’d allow me to interview for the job.  Call Charles D’Alessandro of Fillmore Real Estate at (718)253-9600 ext 206 or email me at [email protected] to schedule an interview.

One of the biggest challenges for Brooklyn’s first time home buyer is the financing . Here in this video is Charles D’Alessandro of Fillmore Real Estate a Brooklyn New York real estate agent and Tony Cetta  a mortgage professional with Continental Home Loans discussing the challenges for first time home buyers in today’s market.

Thinking of buying a home?  I can help you ,if you are a first time Brooklyn Home buyer or looking to relocate. I will help you and find a home that fits your values and lifestyle.  Give me a call today Charles D’Alessandro of Fillmore Real Estate at (718) 253-9600 ext 206 or email me at [email protected]

As a society, it seems like we’ve gotten away from appreciating our Brooklyn New York homes for their emotional and sentimental worth.  Instead, we focus solely on their monetary value. Do You Consider Brooklyn Real Estate a House or Your Home?

An appraiser can estimate a Brooklyn New York home’s monetary value, but to gain a true concept of your home’s worth, you must also take into consideration:

1.      Pride of home ownership. You don’t buy a pair of Prada shoes because you’re going to be able to resell them and make a profit.  You buy them because they make you look good and feel good.

2.      Security and stability. Your home provides a roof over your head that’s in your control.  You can decorate it how you want.  You don’t have to worry about a landlord selling the property or asking you to move out.  In the “olden days” (or should I say “golden days”), we called our homes our castles because, as homeowners, we felt like the kings and queens of our Brooklyn New York homes.  You can still feel that way!  Claim your castle and crown yourself king or queen today.

3. A safe haven. After a tough day at work or a day of disappointments, where’s the first place you think of going?  Home!  As Dorothy says, “There’s no place like home.”

4. A place to make memories. Your son’s tree house and daughter’s playhouse.  The markings on the wall that tracked your children’s growth.  The porch swing where you start and end every anniversary celebration.

5.      A neighborhood full of friends. In the event of an emergency, your Brooklyn neighbors are your first line of defense.  They’re also the simplest, best and least expensive form of security.  Additionally, they may have the exact tool you need for a project; the extra pair of hands you need to complete a project or children to become playmates with yours. Neighbors also give you that much needed in-person, up-close social network.

Even if your home’s economic value has dropped, you continue to benefit from its emotional values of community, stability, security and success.

Thinking of buying a home?  I can help you evaluate the emotional and monetary worth of your Brooklyn homes and find a home that fits your values and lifestyle.  Give me a call today Charles D’Alessandro of Fillmore Real Estate at (718) 253-9600 ext 206 or email me at [email protected].

Your kids are grown and gone and without them your Brooklyn home was simply too big and too much work.  So you sold it.  Now you’re asking yourself, “Should I buy Brooklyn Coop Apartment , A Brooklyn Condominium, or relocate to  a new  home in a retirement community?”

The answer depends on what’s important to you. Do you crave the company of others? Would you use many of the amenities provided at the community?  If yes, then you might prefer the convenience of a retirement community.

Many communities offer amenities to attract buyers, such as:

• Golf courses
• Swimming pools
• On-site exercise facilities
• Trails for hikes and biking
• Clubs, associations, and various interest groups.

Other things you need to consider before making your decision are:

• Do you meet the age requirements?  Most senior living communities or Adult communities have a minimum age restriction of 55 for at least one of the residents. Sometimes the age minimum is 60 or 62. If it is 62, then all occupants must be at least that age. Check resident restrictions before purchasing.
• Do you have enough money in your budget?  Like condo ownership, there are usually Community Association fees that must be paid.  These fees pay for the shared facilities and community maintenance costs.  Make sure your budget covers all housing expenses including the mortgage payment, utilities and all community fees.
• Which type of retirement community best fits your needs?

o       Active Adult Communities. These are for those who live independently and have an active lifestyle.

o       Independent Living Retirement Communities. If you can live at home, but still need some help, this type of community  is also called assisted living, and may be for you.

o       Continuing Care Communities. These communities have professionals that are able to care for your health needs.

If you’re looking for a new Brooklyn home,  relocate to a  retirement community , I can help you find a home that fits your lifestyle and budget.  Call me today at Fillmore Real Estate (718)253-9600 ext 206 or email me at [email protected]

As a Life time Brooklyn Resident and a Realtor© for over

over 24 Years I have enjoyed the many benefits of being a Brooklynite!

This Video is just a short View of why Marine Park is a great place to Live and raise your family!

If you are interested in searching for

Homes for sale in Marine Park follow me to My website Brooklyn Real Estate Sales

Some Brooklyn home buyers have an advantage that others don’t in today’s housing market.  They can qualify for an FHA loan.

Federal Housing Administration (FHA) loans help Brooklyn home buyers who would otherwise have trouble being approved for a mortgage.  You can qualify for a loan if you have less than perfect credit.  FHA loans are available even after bankruptcy and foreclosure, if you have maintained good credit for the following two to three years.

What are the requirements for FHA loans?

FHA loans have strict home appraisal guidelines.  The appraisal value helps determine the FHA mortgage limit.  Each state has its own rules regarding maximum loan limits.

What are the advantages to FHA loans?

One advantage of an FHA loan is lower down payment requirements.  You may qualify for a down payment as low as 3.5 percent of the purchase price of the property.  Additionally, most of your closing costs can be included in the loan, so you’ll have less out of pocket expenses.

An FHA loan can also be used to buy a house that needs improvements.  If you need cash to make the repairs, you can apply for a loan to cover the cost of the expected repairs.  The FHA also has energy efficient mortgages which include the costs of energy improvements.

What are the terms of FHA loans?

An FHA loan can take many forms: it may be a fixed-rate loan, an adjustable rate mortgage (ARM) or a reverse mortgage.

• A fixed-rate mortgage has a set interest rate for a set amount of time.  Typically, it will be a 15 or 30-year loan.
• An ARM has a variable interest rate for 15 to 30 years.
• The reverse mortgage pays a set amount of money to the homeowner for the entire time they live in the home.

Whether you’d like to finance a Brooklyn home using an FHA loan or a non-FHA loan, I can help.  Give me a call today Charles D’Alessandro of Fillmore Real Estate at (718) 253-9600 ext 206 or email me at [email protected].