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Century 21 VJF Realty October Newsletter

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Happy Halloween!

 

October 2011

Newsletter

 

In This Issue
Our YouTube Channel
NEW LISTINGS
Take The Stress Out
Top Priorities for First Time Buyers
Importance of a Checklist
Century 21 Quick Links
HUGE PRICE REDUCTION!
 
989 Peekskill Hollow Rd, Putnam Valley
989 Peekskill Hollow Rd, Putnam Valley $299,999
NEW LISTINGS  
  

 

20 Deans Corner
20 Deans Corner Rd Brewster $1,150,000
18 The Terrace
18 The Terrace Katonah $575,000

   

5 Ivy
5 Ivy Ln, Wappingers Falls $240,000
19 Elizabeth
19 Elizabeth Ct Brewster $599,999
20 Saratoga
20 Saratoga, Carmel $339,000
1025 N Horsepound
1025 N. Horsepound Rd Carmel $325,999
24 Allen
24 Allen Dr, Brewster $249,999
5 Freemont
5 Freemont Rd, Brewster $169,999
Kent Rd
Kent Rd, Wappingers Falls $379,000

 

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 TAKE THE STRESS OUT OF HOME BUYING   Couple peeking into a homeBuying a home should be fun, not stressful. As you peek into windows looking for your dream home, keep in mind these tips for making the process as peaceful as possible.1. Find a real estate agent who you connect with.Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the REALTOR® you chose is both highly skilled and a good fit with your personality.2. Remember, there’s no “right” time to buy, just as there’s no perfect time to sell. If you find a home now, don’t try to second-guess interest rates or the housing market by waiting longer – you risk losing out on the home of your dreams. The housing market usually doesn’t change fast enough to make that much difference in price, and a good home won’t stay on the market long.

3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family – the people who will be living in the home.

4. Accept that no house is ever perfect. If it’s in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.

5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take.

6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself – room size, kitchen, etc. – that you forget about important issues as noise level, location to amenities, and other aspects that also have a big impact on your quality of life.

7. Plan ahead. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.

8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be costs. Don’t leave yourself short and let your home deteriorate.

9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big financial commitment. But it also yields big benefits. Don’t lose sight of why you wanted to buy a home and what made you fall in love with the property you purchased.

10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home’s most important role is to serve as a comfortable, safe place to live.

~ courtesy Realtor.org

TOP PRIORITIES FOR FIRST-TIME HOME BUYERS   Buying a homeIt’s easyfor first-time homebuyers to become overwhelmed as they begin their home search. Often, buyers get distracted by a newly renovated kitchen or finished basement, and lose sight the big picture when choosing a home. See below for three factors that should be a priority as you navigate the home buying process.

1.  Pricey proposition – Set a price point BEFORE you start looking for homes. It is important to talk with your REALTOR® about your budget so he/she can focus on homes within your price range. It’s helpful to leave yourself a financial cushion when deciding on what to spend. Factor in closing costs, repairs, down payment and even unexpected expenses to help you find a price you feel comfortable with.

2.  Location, location, location – This is one of the few things you absolutely cannot change about your property. If you need to be in close proximity to mass transit or within a specific school district, only view homes that fall within this area. Is it really your dream home if you are out of your desired commuting distance? Also, be aware of the condition of the neighborhood. Is it safe for you to live or desirable should you decide to sell down the line?

3.  Room to grow – Remember to ask yourself how long you plan on staying in your new home. Will the one-bedroom loft or two-bedroom cottage work for you in five years?

THE IMPORTANCE OF A CHECKLIST   ChecklistWhen looking for a property, the price is far from the only prerequisite. Simplify the home buying process with a checklist of necessary criteria that your new property must fulfill. When you focus on what you absolutely need in your home, you save yourself (and your real estate agent) both time and money. Share your list of priorities with your Realtor, so if needed, she can narrow down the search and eliminate any properties that are out of proximity to your work, public transportation, or desired school district.

When viewing potential properties, bring your checklist, so you can easily compare and rank different homes according to how each meets your needs. Remember there is a difference between your wants and your needs. You may need three bedrooms and although you would prefer hardwood floors, they are not essential. You can always do upgrades later, such as finishing off the basement or attic space or pulling up those carpets…what you can’t change is your property’s location and the size of your lot.

We suggest the following should be included on your list: number of bedrooms, number of bathrooms, number of stories, presence/size of a backyard, style of kitchen, presence of a formal dining room, basement, attic and living room, amount of storage and living space, type of heat, presence of central air, and type of siding.

If you plan to enlarge a home, check with your Realtor to make sure construction is a possibility. For added assistance, century21vjf.com has a buyer’s checklist that you can download here.

 
 
 
 
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October 4, 2011 Posted by | Century 21 V.J.F. Realty, Real Estate, Uncategorized | , , | Leave a comment

Century 21 VJF Realty Newsletter ~ August 2011

 
C21 Agents rock
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 August 2011

Newsletter

In This Issue
NEW LISTINGS
What NOT to do When Buying
Featured Listing
What Affects Credit Scores?
***RATE ALERT!***
How Are We Doing?
Century 21 Quick Links
NEW LISTINGS  
  

 

1 Meadowlark
1 Meadowlark Dr, Carmel $480,000
The Arch Restaurant
Restaurant for sale! 1292 Route 22, Brewster $1,150,000

  

136 Towners
136 Towners Rd, Carmel $310,000
14 Lake Ellis
14 Lake Ellis Rd, Wingdale $199,900
16 Phillard
16 Phillard Rd, Patterson $449,900
17 Oakwood
17 Oakwood Dr, Brewster $419,000
224 Cricket Hill
224 Cricket Hill Rd, Dover Plains $445,000 ALSO FOR RENT MLS #3124747
2404 Village
2404 Village Dr, Brewster $234,900
459 Barrett Hill
459 Barrett Hill Rd, Mahopac $399,999
509 E Branch
509 E. Branch Rd, Patterson $569,000
82 Livingston
82 Livingston, Carmel $229,900
Martling
537 Martling Ave, Tarrytown $499,900
Union
13 Union Rd, Carmel $309,000

  

1801 Village Dr, $224,900
1801 Village Drive, Brewster $224,900

 


What NOT to do Before Buying a Home
   A lender will examine your debt-to-income ratio to qualify you for a mortgage. Debt-to-income ratio is the percentage of your gross monthly income, before taxes, that is reserved to pay down debt. If you’re serious about buying a home, avoid these common mistakes that will compromise the amount of your approved loan:No new debt!Delay large purchases. This includes jewelry, vacations, appliances and especially vehicles. Hold off on buying a new vehicle, as a sizable monthly car payment can push the debt-to-income percentage over what lenders feel is a safe limit, and you may be denied the loan or have to settle for a smaller loan.Do not co-sign on a loanfor anyone else. Although you will not be making the payment, the lender still views this as your debt.Don’t move money around. A lender will require you to supply bank statements for all your accounts during recent months. Any large deposits or withdrawals will be red flags to the lender, and may slow or inhibit the escrow. Changing banks is also unadvisable. Remember, the simpler your finances are, the better.

Avoid changing jobs. When you change jobs, it can be difficult for lenders to predict future earnings. Any major career changes, such as corporate employee to self-employed, should also be delayed. Remember, the lender will look two years back and average your income. Anything that will make that process difficult is a bad idea.

For more tips on the home buying process, please contact one of our Century 21 V.J.F. Realty professionals  today.

FEATURED LISTING

 
16 Phillard Rd - Patterson, NY 12563
16 Phillard Rd – Patterson, NY 12563

DEPART FROM THE ORDINARY.  Contemporary colonial in lovely area on private cul-de-sac.  3 bdrms, 2.5 baths, 2,268 square feet. Enjoy 2-story entry, Pergo floors thruout, large gourmet EIK with cherry cabinets, granite counters & island. Large deck is perfect for entertaining. $449,900

What Affects Credit Scores?   7 Misconceptions about what affects your score If you’re trying to raise your credit score to get a good rate for a refinance or HELOC, you might be surprised by what affects–or doesn’t affect–your score.You have to keep your credit score up in case you want to take out a second mortgage or home equity line of credit (HELOC), or get the lowest premiums on your home owners insurance. Here’s the 411 on how various money management tactics goose up or ding your credit score.More money improves your credit scoreFalse. Your level or sources of income don’t affect your credit score, although lenders may look at it when making loan decisions, according to the Fair Isaac Corp., the company that issues the commonly used FICO credit scores.

Ownership of several credit cards can hurt your credit scorecredit

Mostly false. Having many credit lines isn’t necessarily a bad thing, says credit expert Liz Weston, author of Your Credit Score. Multiple lines give you a favorable debt-to-available-credit ratio. But use them correctly: It’s best to keep any balances below 10% or 20% of the total credit line, she says. Anything more will affect the ratio of debt-to-available-credit, which can decrease your credit score.

Opening and closing credit lines can hurt your credit score

True. New credit applications can decrease your credit score, so be careful about applying for new credit cards or personal loans before applying for a HELOC, second mortgage, automobile loan, or other large line of credit.

Surprise: Closing existing credit lines may also hurt your credit score, since it’ll damage your debt-to-available-credit ratio. A good rule is not to make any credit changes in the months leading up to a major credit request, such as for a HELOC.

Consolidating credit lines will help your credit score

Mostly false. Although it may seem like a good idea to move all your balances to one card, that can actually hurt your credit score, since your debt-to-available-credit ratio will spike on that card, says Weston.

However, credit expert Harrine Freeman says such a slight decline isn’t necessarily a deal-breaker for a loan, especially if the card has a lower interest rate and will allow you to pay off the balance sooner. Your score will increase as soon as that ratio goes down.

Changing jobs can hurt your credit score

Partly true. Taking a new job or losing your job doesn’t affect your credit score. However, if you have a spotty employment history, lenders may hold that against you in making a loan. Dips in income may signal that it could be difficult to pay bills in a timely manner.

Co-signing for others can hurt your credit score

Partly true. Simply co-signing on a loan for someone else may not affect your score, but if that person is late on paying the loan, it’s likely to show up on your report, says Freeman. And that’s a nasty surprise if you didn’t know the person was late.

Judgments and liens aren’t considered in your credit score

False. If you’ve had a judgment or lien filed against you, it’s considered in your payment history, which represents 35% of your score.

Similarly, while most utility companies don’t report payment history to credit bureaus, your account will likely be reported if it is seriously delinquent and referred to a collection agency.

Additional details on how to manage your FICO score are available on the FICO site.

Article From HouseLogic.com 

By: Gwen Moran

***RATE ALERT!***RATE ALERT!***RATE ALERT!***  

RATES ARE AT 60-YEAR LOWS!

 

Debt Ceiling Fears and Economy Fears createGHMC UNBELIEVABLE borrowing benefit.

Rates have plummeted to 1950’s levels

(Happy Days are here again?)

30 Year Fixed Rate: 4.375%, No Points, 4.43% APR

30 Year Jumbo Fixed: 4.375%, 1 point, 4.403% APR

  

I’m often asked: What makes rates go up or down?

Here’s a simplified answer: YOU and the economy.

Are you spending more or saving more?  If you are spending more that means companies may do better; hence, rates will probably go up.  If you save money, companies may show less profit, and this usually translates to lower rates. 

The same is usually true with the state of the economy: When the economy does well, the rates typically go up. When the economy is not doing well the rates typically go down.

If you are looking for a home, there could be a silver lining in the state of the economy for you, and that silver lining is unbelievably low mortgage rates.  So don’t wait…call me today to see what you qualify for!  

Carey Lance Hollander

(914) 424-5962 Cell

NMLS # 94044

chollander@ghmc.com

 

Not available on all programs. Rates are for informational purposes only. Not all applicants will qualify. Certain restrictions apply.  

HOW ARE WE DOING?  
How are we doingThis is our 3rd year of providing you with real estate news and we want to thank you for reading and being such loyal supporters. 
In our continuing effort towards excellence, we want to know what you, Reader, are looking for in real estate news. We would be pleased to hear suggestions about what topics are relevant to you today. 
Better yet, if you have a specific question, feel free to email that question to us at info@century21.com and we can highlight that topic in next month’s newsletter.
If you enjoy reading this newsletter each month, please put yourself on our official mailing list by pressing the
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Century 21 V.J.F. Realty Inc. | 973 Route 22 | Brewster | NY | 10509

August 5, 2011 Posted by | Century 21 V.J.F. Realty, Real Estate, Uncategorized | , , | Leave a comment