Pet Friendly coops in Scarsdale New York
February 8, 2009
To view current listings on the market check out: Pet friendly coops in Scarsdale NY
The web page is updated daily with new listings from every real estate company in the county. There is no other site like it!
Search all pet friendly coops in Westchester County NY
How to buy a short sale
February 8, 2009
Buying a short sale in Putnam and Westchester County
Bidding on a short sale:
Bank approval of a short sale
Senate approves $15,000 tax credit for all home buyers
February 6, 2009
Feb 5, 2009
Re/Max International
If you have been watching the news this week, you may have noticed that the debate in Washington has finally turned toward real stimulus for the housing industry. As a result, I believe that we could be on the brink of a substantial turn around in the real estate market. Now, it’s critical that we all join together and deliver a powerful message to our legislators that we support this stimulus.
Last night, the Lieberman/Isakson Amendment was included in the senate version of the Economic Stimulus Bill by a unanimous voice vote. This amendment would provide a Tax Credit to all home buyers at the rate of 10% of the sales price up to a limit of $15,000. Purchases must be made within one year of the legislationʼs enactment to all purchasers of primary residences, and the tax credit would not have to be repaid. Current law provides for a $7,500 tax break for the first time home buyers only but is required to pay back that amount over a 15-year period.
Today, the senate expects to debate Amendment 353, a proposal by Senator John Ensign (R-NV) that would provide 30 year fixed financing at a rate of about 4%, for anyone purchasing a primary residence.
If these two provisions survive in the final passage of a stimulus bill they could have a tremendous impact on our industry. If they are coupled together with provisions to ease the flow of credit and reduce foreclosures, we could see an immediate and dramatic turn-around in real estate.
I feel that these provisions represent real economic stimulus. They will put money in the hands of millions of homeowners, increase sales, stabilize home values and add more revenues to local communities in the form of property taxes.
I urge each of you to contact your senators and representatives to let them know that you believe these provisions are essential components of any stimulus bill. You can go to the official Senate and House web sites to locate the email and phone number of your legislators.
This may be one of the most critical moments for the real estate industry in our time. Please pass this information on to anyone you might do business with. The outcome of this legislation will have a lasting impact on us all.
To show support for the proposed amendments please contact your Senators by clicking on the following links:
Phone numbers for your Senator
Update: 2/7/09 – the proposal to reduce interest rates to 4% was defeated on a vote of 35-62.
Update: 2/12/09 – From the Wall St. Journal online – February 12, 2009
Home buyers who hoped for a $15,000 tax credit to buy a new home, as promised by the Senate, will be disappointed. A proposed $35 billion credit to support home sales was jettisoned in favor of a more modest $2 billion to $3 billion provision.
The proposal would eliminate the repayment requirement in an existing tax credit for first-time home buyers, and raise the credit to $8,000 from $7,500. Congressional aides cautioned Wednesday that the credit’s size was still subject to negotiation. The credit applies only to homes bought between Jan. 1 and Aug. 31 of this year.
Homeowners who install new doors, windows or furnaces to make their home more energy efficient would be able to get as much as $1,500 back through new tax breaks.
To read more about the $8,000 tax credit, check out: https://putnam-westchester-homes.com/8000-tax-credit-for-home-buyers
Just Sold New Home in Mahopac
February 6, 2009
I just sold this lovely brand new home in Mahopac NY. The house has 4 bedrooms, 2.5 baths, 3,000 sq. feet on one acre. Features included: 2 story entry, hardwood floors, granite kitchen, crown molding 1 mile to Taconic Parkway and Westchester border. The selling price was $629,900.
View all: Recent home sales in Mahopac NY.
View all: Homes for sale in Mahopac NY.
Lakefront land for sale in Mahopac
February 5, 2009
Lovely 7.5 acre LAKEFRONT cul-de-sac property in already established neighborhood conveniently located to shopping, Rte 6, 684, Croton Falls train. Private location with entrance from the cul-de-sac. Board of Health approval pending for 4 Bedroom residence. Seller will deliver property with necessary BOHA approval required to build. A must see!!
See more info here: Land for sale in Mahopac.
Search all Homes for sale in Mahopac NY
Studio loft style condo in Peekskill NY
February 4, 2009
Lovely bright studio loft, sought after corner unit in Villa at The Woods! High ceilings with tons of windows and amazing views! Brand new hardwood floors, new stainless steel appliances, new kitchen cabinets and paint in kitchen. Pool, tennis, walk to town, minutes to train. Low taxes and common charges, assigned parking, heat and hot water included! A must see. To see listing details check out: Villa At The Woods Condo
To see more townhouses and condos in Westchester please visit NorthernWestchesterCondos.com
Foreclosure alternatives and prevention
February 3, 2009
Are you or someone you know behind on their mortgage payments? Do you foresee having a hardship in the future that will prevent you from making your mortgage payments? Know your options…there are alternatives to foreclosure that can pay off your debt and preserve your credit.
Fact: Your bank does NOT WANT TO foreclosure (lots of costs involved for the bank, typically $60,000-$100,000 from the start of the process until the home is sold at public auction).
Fact: Your bank will DEFINITELY FORECLOSE and take your home unless you seek help before time runs out…..A Certified Distressed Property Expert (CDPE) can help and banks work with CDPE’s all the time!
Fact: Your bank will happily TAKE LESS than you owe them if a homeowner takes the correct steps to avoid foreclosure and the 1st step is to speak to a CDPE!
Have you already received a letter of noticed that your home is going up for public auction? A fact that most people do not know is that a CDPE can have the auction STOPPED even the day of the auction and have you stay in your home! But you must start the process right away before it is too late!
Check out our Foreclosure Prevention page to learn more. Do not wait any longer, time is running out.
Westchester Putnam Short Sales
February 1, 2009
Short Sale
When a homeowner owes more on a property than it is currently worth a short sale is an option. When lenders agree to do a short sale it means the lender is accepting less than the total amount due. A short sale is an alternative to bankruptcy or foreclosure proceedings.
Why would a lender accept a short sale?
One of the most common misconceptions that a very high percentage of homeowners have is that their lender is lying in waiting eager to jump out and take their home. Nothing could be further from the truth. Realty is that banks are in the business of lending money, not the real estate business, and they don’t want to own your house.
Westchester and Putnam County Foreclosure Prevention
February 1, 2009
In order to reinstate a mortgage, you must pay all missed payments, late fees, and legal fees that are due up until the date that the loan is reinstated
Forbearance or Re-Payment Plan
If you do not have the means to repay all of the missed payments and legal fees, then this is another option that also reinstates the mortgage. The lender allows the homeowner to pay the missed amount over a period of time or they place the missed payments at the end of the amortization of the loan
Sell the Property
If you have equity in your house, you can sell it and cure the foreclosure A licensed real estate agent experienced in the foreclosure process can help a homeowner harvest from the home sale as much of your hard-earned equity as possible. When choosing a Realtor make sure to choose a Certified Distressed Property Expert (CDPE) who understands the foreclosure process and is aware of the foreclosure timeline and pricesyour property accordingly.
Rent the Property
In some cases, a homeowner facing foreclosure that has mortgage payments low enough to allow him to rent the property and keep up the mortgage payments. This is usually a short-term solution since when taxes and insurance payments come due, many homeowners cannot afford them.
Refinance
If the homeowner has sufficient equity and income and their credit has not been too badly damaged, you may be able to refinance. This is also typically a short-term solution since payments on the property usually go up considerably due to the refinance.
Deed-in-Lieu of Foreclosure
This option is sometimes referred to as a “friendly foreclosure” since you essentially give the deed to your property back to the bank. If owner has equity in the house, this is not a good option since they give up any right to the property and any equity when using Deed-in-Lieu as a solution
It is important to note that this relief is only temporary and in many cases the most prudent course of action for a Servicemember is to sell their property.
*** Short Sale ***
When a homeowner owes more on a property than it is currently worth and one of the above solutions do not apply to their situation, there is an option of pursuing a short sale.
I am a top producing Licensed Associate Real Estate Broker at Re/Max Classic Realty in covering the Putnam County NY and northern Westchester County NY are. I specialize in the towns of: Mahopac, Carmel, Brewster, Patterson, Somers and Yorktown Heights as well as a few other towns close by. I am also a condo and townhouse specialist covering all complexes in Putnam County and Northern Westchester County.
My popular web sites receive tens of thousands of visits a month and are some of the most well known web sites in the area.
