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Posts Tagged ‘waterfront’

Resort Style Living in Amityville

There are very few homes that boast this amount of custom beautiful woodwork!  Call me today to schedule an appointment to see this unique and stunning home!

MLS #  2684687

Click Here for the MLS Listing

http://www.mlsli.com/homes-for-sale/NY/Amityville/11701/82-Bayside-Pl-125160362

Click Here for a Virtual Tour

http://www.realestateshows.com/735380

160 feet of top notch composite bulk heading  and one of a kind cedar boat house!

160 feet of top notch composite bulk heading and one of a kind cedar boat house!

Custom molding through out this stunning home!

Custom molding through out this stunning home!

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This is a constantly changing market.  If you live anywhere near the water or are thinking about purchasing or selling and live near the water then you need to be aware of the current requirements put in place by FEMA.  Many homes will be required to have elevation certificates before an insurance quote can be given to place the flood insurance premium cost.

This video explains who, what, when and why in a simple and easy to understand manner.

https://www.dropbox.com/s/rct6xganj44qgfq/Allstate%20Video%20File%20%28YouTube%29%20%281%29.mp4

If you have any further questions or need some additional information on your own property or one you are thinking of purchasing please feel free to contact me and I will be happy to help you further as well as provide some references for obtaining an elevation certificate.

As always thanks for reading!

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Jenn

http://www.TodayByTheBay.com

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I am a firm believer in practicing what I preach!  On that note, I thought I would share with you what we accomplished yesterday, on Mothers Day!  I know, most women spend time being pampered.  Time is limited for us these days so I chose to spend my day working hard with my family.  We ripped down the wooden fence that was damaged during Superstorm Sandy and we also removed the kids huge wooden swing set that had also seen better days since Sandy.  We still have a ton left to do, power washing, deck finishing, landscaping, grass seed as well as some remaining construction but we are well on our way.  It is a work in progress for us, it always has been, but at least we are progressing forward these days and not regressing!

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There is a tremendous amount of activity these days in the real estate market here in the friendly bay village.  I am going to give you the scoop on what is means when you read the words “as is” on homes for sale today by the bay…

“As Is” is a term that has always been used in the real estate industry.  In past years it may represent a home in disrepair, without appliances, possibly fire damage, or any other condition that is not typical.  It is almost akin to what you see is what you get. The owners will not be negotiating anything that a potential buyer may want and that the house is simply “as is”.  It may be a simple broken dishwasher that is “as is” or a wooden attached deck that is falling apart that is “as is”.  The term is broad in its scope.

Unfortunately in the aftermath of Superstorm Sandy most of these “as is” homes refer to water damaged homes.  Some may have been remediated completely, some may have nothing done to them at all.    There may be mold, the house may be totally gutted down to the studs, or some repairs may be started.  Each home will be in a different state but the most important thing to remember is if the listing states “as is” there is to be no negotiations for things that a buyer may want.  It is up to the buyer to put back the sheet rock, fix the electrical system or purchase appliances.  Every situation will be different and buyers should be well-educated in the costs to bring these homes up to current building codes.  This leads us in the financing of purchasing homes in these conditions.

Many “as is” homes are being sold for cash.  Investors are seizing this opportunity to purchase lower valued homes and then fix them up.  Some may plan to rent for a few years as the market continues its recovery while others may fix and immediately flip it back onto the market.  Other progressive home buyers are purchasing the home of their dreams even if there is no sheet rock.  There are loan programs such as a 203K loan which will incorporate the construction repair costs into the loan and they will in essence re-build the house as part of their mortgage agreement.  This program allows a home buyer to purchase a house much cheaper than they would have been able to afford and then pick out the bathrooms and kitchens of their dreams.  The bank will have some limitations in place and of course help oversee the process to make sure the appropriate equity is invested into the home but it is a fantastic solution to rebuilding the neighborhood.

I will warn you that buying an “as is” home is not for the faint hearted.  There is a lot to consider and tons of research to be done to ensure all repairs are up to current building codes.  Make sure your realtor knows what to look for…or you can just call me and I will be happy to help!

Oh yes..one last thing…these homes can not be considered a fair comp when appraisals are performed…but that is a story for another day.

~Jenn

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Dear Neighbor:

            I wanted to inform you about a program I am sponsoring with the New York State Department of Financial Services to provide assistance to residents affected by Hurricane Sandy.

            The Department of Financial Services’ Mobile Assistance Unit will be at the Riviera in Massapequa (200 East Shore Drive, Massapequa) between 10 am and 6 pm this Friday, January 25th.  Department of Financial Services representatives will be available to meet one-on-one with residents and answer storm-related questions about homeowners’, renters’, and business owners’ insurance coverage. No appointments are required.

            If you are unable to attend this program on January 25th but would like to get assistance with storm-related insurance issues from a Department of Financial Services representative, you can call the Department’s insurance disaster center at 1-800-339-1759 . The center is operated from 8 am to 8 pm, seven days a week.

            If you have any questions or need additional assistance, please feel free to contact me.         

                                                            Sincerely,

                                                            SENATOR CHARLES J. FUSCHILLO, JR.

Senator Charles J. Fuschillo Jr. fuschill@nysenate.gov | fuschillo.nysenate.gov District: 5550 Merrick Road, Suite 205, Massapequa, NY 11758-6238 (516) 882-0630

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“As Is” is the description of the week. Lean more as I post what the effects of Sandy is doing to our real estate market here in Long Island. Worried that the house down the street from you flooded and was sold dirt cheap? Follow me and learn why this will not impact your home value in the next year when you are looking to sell.

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https://cne.coderedweb.com/Default.aspx?groupid=%2BaCHAGsI63WWVa6aL1efKg%3D%3D

Click on the link to sign up for Suffolk County Code Red alerts.  They will only send you the information that pertains to your area.  There is a QR code that you can scan and set up an app on your I Phone or Android as well.  The best way to stay safe is to be informed!

~Jenn

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