Posts Tagged ‘lindenhurst’

Additional Help for Sandy Victims


This article from the NY Times explains how a 203K loan (typically used for homes that do not meet current codes to be brought current when ownership is transferred) can be used to help repair a Sandy damaged home.  Structured to release payments to the new owner to make repairs by releasing construction payments under the banks supervision to take a run down home (possibly a foreclosure or flood damaged) and in the end the final mortgage amount under the 203K process is for the appraised value of the rebuilt home.

It is slightly complicated and each circumstance is different.  Having a trusted mortgage broker who has successfully completed transactions with this process is key.  Feel free to contact me for some references!

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This week begins the holiday season as we kick off this Thursday with Thanksgiving followed by Black Friday, the day of fantastic holiday shopping deals.  If you have been in the market for a home then don’t let the hustle and bustle of the holidays put that goal on the back burner.  A seller that has their home on the market during the holidays are truly motivated.  That is why is may be a smart time to make a purchase.

This season there is a limited supply and many of the homes that are on the market are priced to sell.  If you are a serious buyer you should not worry about intruding on a family during a time reserved for family and friends.  If their home is on the market then the owners want sincerely interested buyers to see it. They will be happy to make the appointments.  Most sellers tend to avoid this time of year due to the colder weather and shorter days.   The ones that have made the decision to sell are serious about their desire and may be more open to negotiations.

A pitfall to buying during this time may be that a blanket of snow is covering the property and you may not be able to see every detail and there may be some hidden defects.  Pools may be covered and you may not be able to see the lining and other areas of concern.  You can rely on photos taken during an earlier time and the expert opinion of an experienced home inspector.

There may be thoughts of a longer financial process while applying for a mortgage but truth be told the banks are only closed for the same official holidays and don’t close for a longer length of time than any other times of year. People take time off in the summer months as well so don’t let that hold you back.  If there is a for sale sign in the lawn then you should treat it as a welcome sign!Image

I have several quality homes and motivated sellers, give me a call and let’s see if we can’t put a deal together this holiday season!


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New Listing Possible Mother Daughter

Beautiful In Line High Ranch in Venetian Shores, untouched by Sandy, no flood insurance required, hardwood floors, stainless appliances, custom touches through out, custom gas fireplace. Asking $379,000

Visit: http://www.330lidopkwy.com

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