Short sales in Brooklyn are used by homeowners to prevent losing their homes to foreclosure.  When you see an advertisement for a short sale, the home is in pre-foreclosure.

What is a short sale? It is an agreement between the sellers of a home in the beginning stages of foreclosure and their lender which allows the home to be sold for less than the existing loan balance. If an agreement is reached by all parties, a short sale could save the sellers’ credit by avoiding a foreclosure.

A short sale is not a short process, however.  It is a lengthy process with many legal and financial aspects.

The basic short sale process flows as follows:

• The seller contacts the lender to discuss the possibility of a short sale.
• The seller issues a letter authorizing release of the loan and property information to the buyer or escrow agency.
• A settlement statement is reviewed by the lender. The statement includes the proposed selling price, the amount left to be repaid and itemized expenses.
• The seller completes a hardship letter for short sale in Brooklyn, including a description of all the financial difficulties the seller is going through.  The lender validates and confirms all financial difficulties.
• The seller provides the financial documents including paycheck stubs, bank statements, a personal financial statement, monthly budget assessment and anything else required by the lender.
• Once approved, the buyer can proceed with the purchase.

What are the benefits of a short sale?  The seller is relieved of the debt they cannot afford, a foreclosure proceeding by the lender is avoided and the buyer purchases the home at a discounted price.

Whether you’re a seller who is interested in selling your home as a short sale or a buyer who wants to purchase a short sale in Brooklyn, I can help. Please call Charles D’Alessandro of Fillmore Real Estate at (718) 253-9600 ext 206 or email me at [email protected].

Preventive maintenance is crucial to the value and upkeep of your home. Keeping your Brooklyn  real estate in great shape with regular check-ups will save you the headache and cost of emergency repairs.

Here are six items to add to your outdoor spring maintenance checklist:

Clean the Gutters:  Gutters work best when clean and free of gunk.  Check yours for foliage, tree limbs, etc., especially if trees hang over the roof.

1. Make sure the downspouts are clean: They should point at least two feet away from foundation walls.
2. Check exterior paint: Look for chipped, cracked paint.  Scrape off any failing paint, sand it down, prime the surface, and paint it with a high-quality, low-VOC exterior paint.
3. Brighten your Brooklyn real estate with a good power washing: Rent a power washer or borrow your neighbor’s. This should always be one of the first things you do after winter to brighten and freshen the exterior of your home.
4. Trim overgrown trees and hedges: Trim away from the home to discourage growth of mildew and moisture.  Don’t forget to trim along your property line to make it appealing to potential buyers.
5. Rake up all the downed leaves: Leaves will suffocate your grass and stop it from growing.  Pull up weeds and dead flowers and replace with low-maintenance varieties such as pansies, begonias or mums.
6. Inspect trees for broken branches. If the limb is high up, hire a licensed arborist. If you can reach it from the ground, take it down using the three-cut technique, which prevents bark from tearing and creating an open wound on the trunk. If you had heavy snowfall this winter, look for bending branches and check to make sure they produce leaves this spring.
7. Repair cracked pavement: Before weeds have a chance to take hold, repair cracks in your asphalt driveway and concrete walkways. On surfaces that have ruptured from the effects of frost heaving, hire a professional to pour or pave a new surface.

If you’re thinking of selling your Brooklyn real estate, I’d be happy to do a walk through at no cost to help you identify repairs or maintenance that will help your home sell faster and for more money.  Call Charles D’Alessandro of Fillmore Real Estate at (718) 253-9600 ext 206 or email me at [email protected] today. to schedule an appointment.

The winter season makes staging, or the concept of showing your Brooklyn home for sale  at its best, even more important.  Follow these tips to make your home irresistible:

1. Make every surface shine: Shine bathroom fixtures, stove, refrigerator and faucets.
2. Sweep your front porch: Sweep away all those leaves stuck in the corners.
3. Clean, Clean, Clean: Everything from lamps and light fixtures to bulbs and baseboards.
4. Add fresh flowers: Put them on the entry table, dining room table and anywhere else that needs a splash of color.
5. Remove all clutter: Put it in a storage locker or a friend’s garage. Take down all your personal pictures.  Buyers want to picture their belongings in the house, not yours.
6. Burn potpourri: Or bake something to leave out for potential buyers.
7. Leave every light on: And every interior door open.
8. Keep snow and ice at bay:  If your Brooklyn home is under winter conditions, be sure to keep walkways and driveways clear of snow and ice.
9. Warm it up. Adjust the thermostat so your home is warm and inviting.

10.  Take advantage of natural light: Encourage showings during daylight hours. Have all curtains and blinds open during the day and closed at night.

11. Wash the windows: Buyers act on first impressions; the strong winter sun can reveal grime and turn away prospective buyers.

12.  Create a little atmosphere: Play music softly in the background. Tune the radio to a classical station, and turn it down so that you barely hear it in the background.

13.  Show off hardwood floors: Pull up that wall-to-wall carpeting, clean the floors, store the throw rugs and show the wood!

14.  Freshen the walls: At a minimum, clean the walls from top to bottom.  If they still look dingy, give them a fresh coat of paint.  That is the quickest and fastest way to freshen up a room.

15.  Use the rule of 3 – Three items per surface, in every room.  Make it look uncluttered and clean by doing this.

If you are ready to sell your Brooklyn home , I can help you get it on the market and sold.  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.

Brooklyn Home For Sale !

Located in the beautiful

Midwood Community

Midwood spacious grand home located in the heart of Brooklyn’s Midwood community ,

House needs TLC! House sold “as is condition”. Lots of potential! Priced to sell!

For more information, Call Charles D’Alessandro your Brooklyn Realtor®

with Fillmore Real Estate today (718) 253-9600 ext 206

or e mail me at [email protected]

For private tour , and or Open House Schedule !

for these or any other Brooklyn House For Sale, priced to deal !

Brooklyn’s Marine Park Community! Price Adjusted !

Brooklyn’s Marine Park Community CLICK PICTURE FOR MORE INFO!

Marine Park Location!! 3 bedroom duplex with 2 baths, finished basement

with 2 extra bedrooms, just a short walk to great schools,shopping ,

houses of worship and transportation to Manhattan.

Priced to sell today!

Call Charles D’Alessandro your Brooklyn Realtor®

with Fillmore Real Estate today (718) 253-9600 ext 206

or e mail me at [email protected] today for private tour and or Open House Schedule !

for these or any other Brooklyn House For Sale, priced to deal !

Charles D'Alessandro your Brooklyn real estate agent!

While we all know the economy has taken a hit on the real estate market, that doesn’t mean purchasing a Brooklyn home and putting down roots has turned into an unreachable dream. In fact, you can grasp it quite easily, and there are many benefits to doing so.

Start 2012 off right by setting new life and financial goals for yourself. If you’ve been renting and are planning to remain in Brooklyn, then it’s definitely time for you to consider buying a house. Here are some benefits you should take into account:

• You’ll build equity. If you take out a loan, you’ll be using someone else’s money to turn your property into a piggy bank and eventually make money as your Brooklyn home appreciates. Plus, when you sell down the road, you won’t have to share the proceeds — what’s not to like about making money with your bank’s money!
• You’ll receive tax breaks. The government supports purchasing homes by giving you significant tax breaks on your federal taxes. And when it comes time to sell, you won’t have to pay capital gains taxes either, until you hit a certain ceiling.
• You’ll be able to count on consistent payments year to year. If you can get a fixed-rate mortgage, you won’t need to worry about an annual increase in your housing payments. When you’re renting, you never know what your payments could be from lease to lease, which makes it hard to determine if your current residence will always be within your budget.

While the appreciation on a house you purchase now might not shoot up as fast as it did a decade ago, buying a home is still a wise long-term investment. Paying rent is no investment at all.

If you’re on the fence about the benefits of purchasing a Brooklyn home in the New Year or you’d like to see what’s available, 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] I’m happy to help.

Fannie Mae and Freddie Mac have been in the news quite a bit over the last year, so it’s a good time to do a refresher on who they are and what role they play in the Brooklyn real estate market.

Who are Fannie Mae and Freddie Mac?

Fannie Mae is the Federal National Mortgage Association. Freddie Mac is the Federal Home Loan Mortgage Corporation. They were originally created to raise homeownership levels and increase the availability of affordable housing.

Fannie and Freddie don’t sell mortgages directly to homeowners. They buy mortgages from lenders, so the lenders can use the money to issue new home mortgages.

In 2008, due to mismanagement resulting in billions of dollars of losses, Fannie and Freddie were taken over by the government.

How do Fannie and Freddie impact Brooklyn real estate?

• They contributed to the financial crisis and real estate downturn, by loosening underwriting standards, buying and guaranteeing risky loans and increasing purchases of mortgage-backed securities.
• They are key players in the government’s Making Home Affordable foreclosure-prevention program. If your mortgage is owned by Fannie Mae or Freddie Mac, you may be able to refinance your loan and take advantage of lower interest rates.
• They influence mortgage interest rates and the availability of home loans. Freddie, Fannie and the Federal Housing Administration together now guarantee about 90 percent of all new mortgages, far above their historic level.

What’s going to happen to Fannie and Freddie?

Fannie and Freddie’s future is uncertain. The House Republicans and the Obama administration agree that the pair should be done away with. But this will not happen soon, if at all. Congress must agree on a plan, which could take years, and then the market’s dependence on the companies and the financial backing they provide must be reduced.

If you have questions about Brooklyn real estate or how national or international events impact Brooklyn real estate, please give  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] I’m happy to help.

If you’re thinking about taking the plunge into homeownership, before you even start looking, talk to a qualified mortgage professional to get preapproved for a home loan. Armed with that information, you can make better decisions on the type of  Brooklyn real estate you can afford to buy.

Follow these steps to get preapproved for a mortgage:

1)      Get referrals. Ask family, friends, neighbors and your Brooklyn real estate agent for referrals to a lender with whom they have had a good experience. Talk to several lenders to compare service, rates and other options.

2)      Review your credit report. If anything unexpected appears on your report, do what you can to resolve the issues before you apply for preapproval.  Lenders will review your credit report before preapproving you for a home loan.

3)      Provide financial information to the lender. This usually includes documentation of your income, recent statements for all your checking and savings accounts, assets and debt (for instance, credit card debt and car payments).

Even though the preapproval process is rigorous, obtaining a preapproval still does not guarantee that the lender will ultimately fund your loan. Lenders still need to look at property appraisals, verify your information and potentially check your credit again before agreeing to give you a mortgage.

Preapproval helps you narrow the focus of your Brooklyn real estate search to properties that are within your financial reach. It also helps you check out lenders to find one that is the best match for your situation. When you find the Brooklyn real estate of your dreams, you’ll be ready to move to the next step!

If you’re looking for more information on the home buying process, I can help. 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]

Brooklyn’s Midwood Community !

Click on pictures for more information

Brooklyn Home For Sale

Spacious detached two family on 44 x 100 property with 2 car garage. Close to all!

Come see, and compare! 24 hour notice! Call today!

Charles D’Alessandro your Brooklyn Realtor® Fillmore Real Estate at 718-253-9600.

Midwood Property for Sale !

House needs TLC! House sold “as is condition”. Lots of potential, priced to sell! Prime Midwood Location!

For more Information, call

Charles D’Alessandro your Brooklyn Realtor® Fillmore Real Estate at 718-253-9600.

Brooklyn's East Flatbush Brick One Family Home For Sale

East Flatbush/Flatlands border is where you’ll find this solid cameo brick home for sale featuring –

living room, large formal dining room, modern eat in kitchen with center isle, 3 bedrooms, 3 baths + full finished basement and new heating system

Studio Apartment Blocks from Brooklyn's Kings Highway's Beth Israel Hospital

Low Price low maintenance renovated and convenient

to all!

Call Charles D’Alessandro your Brooklyn Realtor®

with Fillmore Real Estate today (718) 253-9600 ext 206

or e mail me at [email protected] today for private tour and or Open House Schedule !

for these or any other Brooklyn House For Sale, priced to deal !

If you’re looking for ways to update your Brooklyn home, consider ceramic tile. There are myriad ways to implement tile for a new look.

Ceramic tile is the ideal material to use where water is an issue—think the kitchen, bathroom and plant room. It’s also the best option where fire is an issue—again the kitchen, fireplace and woodstove. For a durable and classic look, consider these possibilities for ceramic tile in your Brooklyn home:

• Flooring. Compared to wood, tile is affordable and more durable. Compared to carpet, tile is hypo-allergenic and more durable. Compared to vinyl, tile is classic and more durable.
• Countertops. If your kitchen countertops have seen better days, you can get a whole new, custom look with ceramic tile.
• Entire bathroom. From the floor to the walls, ceramic tile can withstand the water and steam of the bathroom environment.
• Hearth. Ceramic tile around the fireplace or woodstove equals peace of mind.
• Windowsills. If you have houseplants, you know how easy it is to ruin the woodwork of a windowsill. Tile is a much more forgiving material to host your plants and their watery needs.
• Backsplash. A backsplash is installed wherever you need to protect a section of wall. Above the kitchen or bathroom sink, ceramic tile will protect your wall from water damage. Another place you can install a backsplash is behind the stove, where food and grease splash up. With ceramic tile, clean up is easy and a backsplash will add stunning interest to your décor.

In today’s buyer’s market, you need to make sure your Brooklyn  home stands out from the rest. For more tips on how to get your home sold, contact 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]