Category: Real Estate Law

November 7th, 2013 Real Estate Law No Comments »

Staten Island & Brooklyn New York Real Estate Attorney | New Senior Housing Units for Staten Island Residents

A recent Staten Island meeting between private developers and public officials resulted in a project to bring 345 Senior housing units to Staten Island.

The project will be two fold – the first half of the project will provide assisted living for senior citizens and the second half of the project will provide for sale independant condominiums for moderate to middle income Staten Island senior citizens.

The project is scheduled to break ground in 2010.  The project will result in 213 independant living unit condominiums, 70 of which will be affordable with sales prices below market value for senior citizens with low to moderate income.

The project was started up with by the Staten Island Borough President, who provided $5 million, and the Economic Development Corporation, which provided $45 million.

If you are interested in purchasing a condominium in Staten Island contact an expert Staten Island Real Estate Attorney to assist you in your real estate transaction.  Purchasing a home or a condominium is a major life choice and requires the assistance of a real estate lawyer who is experienced, well rounded and looks out for the interests of his clients.  If you would like to speak with Steven T. Decker regarding possibly purchasing a home or a condominium call 718.979.4300.

 

November 7th, 2013 Real Estate Law No Comments »

Staten Island & Brooklyn New York Real Estate Lawyer | Staten Island Real Estate News | Builders Request for Congress to Extend First Time Homebuyer Credit Through the End of December 2010

SIREN (Staten Island Real Estate News) is reporting that the National Association of Home Builders (NAHB) has decided to ask Congress to extend the $8,000 first time homebuyer tax credit for an additional year.

Joe Robinson, the Chairman of NAHB, says that if congress approves the credit extension it would result in more home sales and create more jobs for builders.

The request to extend the first time homebuyer credit through 2010is so that the recent spark in the real estate market will not die out before it fully gets started.   We need to do everything we can to make sure the real estate market does not stop improving.

The NAHB has launched a campaign to focus congressional attention on their request to have the tax credit extended.  Builders who are members of the NAHB and would like to get involved in this campaign can go to www.nahb.org/revivehousingnow.

If you are a first time homebuyer looking to buy a home in Staten Island or Brooklyn New York contact an experienced Staten Island real estate lawyer.  Contact Steven T. Decker to discuss the purchase of your new Staten Island home at 718.979.4300.

November 7th, 2013 Real Estate Law No Comments »

Staten Island Real Estate Lawyer | Staten Island Sale Improvements Show the Worst May Be Over

Reports released in the beginning of August showed that the number of home sales on Staten Island are up 26% from last month, in fact they are the highest they have been in over 13 months.

The jump in the increase of Staten Island home sales can be attributed to many factors such as th $8,000 tax credit for first time homebuyers, banks offering low interest rates, FHA Loan Programs and the stabalizing of Wall Street and the banking system.

As the Staten Island real estate market continues to improve we have seen that homes are staying on the market less time before selling.

If you are considering purchasing a home in Staten Island now may be the time to make your decision to purchase.  With the real estate market rebounding and Staten Island homes selling quicker and quicker there is less time to be on the fence about deciding to purchase a property in Staten Island.  There are more people looking to purchase homes in Staten Island now than what there has been in the past year which means the house you have your eye on may sell quicker than what you expect so you may want to make a move quicker than what you would have needed to do a few months ago.  Also, currently prices for Staten Island property are still low compared to what they were before the financial crisis.  If you are interested in purchasing a Staten Island home now may be the time to make a move before the home prices rise from the improving economy, not to mention to use the resources that are still available at this time such as the first time homebuyers credit which will run until the end of this year.

Purchasing a home should be a smooth experience for you.  Steven T. Decker makes sure he does everything on his part to make your transaction go as smooth as possible for you, the valued client.  If you would like an experienced Staten Island Real Estate attorney to handle your real estate needs contact Steven T. Decker at 718.979.4300.

November 7th, 2013 Real Estate Law No Comments »

Experienced Staten Island & Brooklyn Real Estate and Refinance Attorney | Government Funds for Repairs to Your House If You Are Purchasing a Home or Refinancing

The government has created a fund that can be used as a home improvement fund as long as you qualify under their conditions.  The fund is called the FHA 230K Home Loan.

The purpose of this loan is to help homeowners make repairs to their homes and better their properties.

This loan can be used in a variety of different circumstances such as

  • Purchasing a Staten Island or Brooklyn home that is being sold as a short sale and needs repairs
  • Purchasing a home and moving it to a new site and repairing it
  • Refinancing your existing Staten Island or Brooklyn property and repairing your home.

The FHA 230K Home Loan requires that you take out a minimum loan of $5,000 for repairs.

If you were undecided about purchasing a Staten Island or Brooklyn property or refinancing your home now may be the time for you to move forward with your plans.  Contact Steven T. Decker, an experienced and well known Staten Island & Brooklyn New York Real Estate Attorney, for more information on purchasing a home, the sale of your existing home, refinancing, modifying your loan or purchasing a short sale.  For more information on the eligibility requirements for this “Home Fix-up Loan” click on the link below.
http://www.fhainfo.com/fha203k2.htm

 

November 7th, 2013 Real Estate Law No Comments »

Staten Island Real Estate News | RealEstate.com’s Housewatch is Now Using Twitter

uesday RealEstate.com launched a twitter bot @ Housewatch which instantly delivers statistics and information to homebuyers, sellers and agents who are using the newtwork.

RealEstate.com’s Housewatch is able to respond to commands to deliver information regardnig a Real Estate purchase, Real Estate Sale and also to Real Estate Agents.

Some of the information it can instantly deliver is a home median value for a specific area, crime statistics for the neighborhood you are looking to purchase a home in and can also deliver monthly mortgage payment calculations.

To use RealEstate.com’s Housewatch click here

The full list of supported commands for RealEstate.com’s Housewatch are listed below:
Stats - median home price (by city)
Value - home value (by address)
Income - median, per capita and median disposable income (by city)
Weather - monthly high and low temperatures (by city)
Demographics - population count and density (by city)
Cost - cost of living including local sales tax and a ranking of household expenses based on an average of 100 (by city)
Transportation - median travel time to work in minutes, and average use of public transportation (by city)
Environmental - air pollution and ozone indices based on an average of 100 (by city)
Crime - total, personal and property crime rankings, based on an average of 100 (by city)
Fixed - monthly loan payments including insurance and taxes
Equity - amount of home equity using current value minus outstanding mortgage balances
Amort - full amortization schedule including monthly payment, total interest paid and total amount paid over the lifetime of the loan

November 7th, 2013 Real Estate Law No Comments »

Recent Study Shows Increase in New Constucted Homes | Real Estate Lawyer in Staten Island New York

Ever since the recession started there was a major decline in newly constructed homes being built and sold.  But a recent study shows that new construction home sales rose in June and as a result construction spending rose due to builders constructing more new homes to be sold in the months to come.

Th Commerce Department said that construction spending rose by a seasonally adjusted annual rate of 0.3% in June which went against analysts original estimates which predicted a 0.5% drop in spending.

The rise in existing home and new construction sales is a ripple effect of the many resources and opporitunities that home buyers have access to such as low interest rates, affordable sales prices and the federal tax credit for first time homeowners.

November 7th, 2013 Real Estate Law No Comments »

Many Staten Island residents are taking advantage of the Home Affordable Refinance Program

Many Staten Island homeowners, homeowners in New York, New Jersey and around the country are taking advantage of the Home Affordable Refinance Program.

The Home Affordable Refinance Program is a part of the recently instituted program Making Home Affordable put in place by President Obama.  It provides low cost refinances for responsible home owners suffering from falling home prices and is only available for those involved in a Fannie Mae loan.

This program is designed to move you, the borrower from a high risk loan to a more stable low risk loan.  This results in you having a lower monthly payment by not oly reducing your interest but also by reducing your principle.

If you are considering refinancing your home but are not sure if refinancing is right for you, you can read more information about refinacing your loan by reading our article “Top 5 reasons why you should refinance your loan“.

If you are considering refinaning your loan on your New York or New Jersey home or if you would like more information on the refinancing process conact Staten Island real estate lawyer Steven T. Decker at 718.979.4300.

November 7th, 2013 Real Estate Law 1 Comment »

Staten Island Real Estate Lawyer: Top 5 Reasons Why You Should Refinance Your Loan

With today’s market the way it is with the prices of food, gas and other expenses which seem like are almost constantly rising everyone is looking for more ways to save money and lower their monthly expenses.

If you are a homeowner and have a mortgage a good way to maximize your money is to refinance your loan.
Here are just some of the reasons why refinancing may be the best option for you:

  1. You can lower your monthly mortgage payment
  2. You can consolidate your debt – some banks will allow you to consolidate your debt into one low monthly payment when you refinance.  Some times this is very beneficial because you can payoff credit cards that have been lingering over your head for years.
  3. You can keep your payments from rising – if you have an adjustable rate now is definitely time to consider refinancing with the rates as low as they are.  By locking into a mortgage that has a fixed rate you are guaranteeing that your loan will stay at a low mortgage rate no matter how high the rates go in the future.
  4. You may be able to take cash out – you can take cash out against your loan when you refinance and use the extra money to pay off high interest credit cards or make renovations to your house.
  5. You may be able to utilize government programs – there are certain programs such as the Home Affordable Refinancing Program which are designed to help those who are looking to refinance but their loan is higher than the value of their home at the time of the refinance.

If you are looking to refinance your New Jersey or New York home contact Steven T. Decker Staten Island real estate lawyer specializing in areas such as refinancing and loan modifications at 718.979.4300 ext. 37.  Steven Decker works everyday with banks such as Wells Fargo and HSBC everyday to help people with their refinances and mortgage modifications.

November 7th, 2013 Real Estate Law No Comments »

Understanding the Real Estate Settlement

The real estate settlement is the final step in purchasing or selling a property in New York or New Jersey.  Whether you are a first time homebuyer or veteran real estate investor, it is crucial that you know what to expect during a New York real estate settlement.

The date of the New York or New Jersey real estate settlement is usually negotiated at the beginning of the purchase process and is specified in the real estate contract.  At settlement, the final documents are signed, funds are distributed and the property is exchanged.  The deed to the property will also be recorded, reflecting the new ownership.

If you are the buyer in a real estate transaction, you will be required to pay closing costs, if applicable, at the settlement.  Closing costs generally include fees from obtaining a new mortgage and transferring property, including property insurance, title services and lender charges.  You will also need to sign legal documents at settlement, including lender’s documents if you used financing to obtain the property.  Read everything carefully to ensure that all of the agreed upon terms are included in the contract and lender’s documents.  A New York real estate attorney can help you by reviewing your paperwork before you sign.

Contact the law office of Decker, Decker, Dito & Internicola, LLP at (718) 979-4300 or (800) 976-4904 for assistance with your real estate transaction.

November 7th, 2013 Real Estate Law No Comments »

Steps to take to sell your Staten Island home in a buyers market

As a Staten Island real estate lawyer I can tell you that it is definitely a buyers market in the real estate world right now.  I think it is only fair that I offer my advice as to what you can do to help you get the most money when selling your Staten Island home.

It used to be that the Staten Island real estate market was a sellers market now as the economy has changed it has also changed the way the real estate market operates.

Here are some tips to help you sell your Staten Island home in todays market:

  • Freshen up your home before you put your home on the market – you don’t necessarily need to completely renovate your home but it always helps to straighten up a bit.  Make sure your home is in top shape so that it will make the competition seem a little less appealing.  If your home needs a it give it a fresh coat of paint, pressure wash or sweep the walkway or the porch, mow the lawn and make sure the bushes are trimmed, in general you just want to make sure that your house will look appealing when someone comes to look at it.
  • Get your home inspected – according to a recent report on MSN.com titled “How to sell in a buyer’s market” they recommend that in some cases it may be beneficial to have your home inspected prior to selling it.  Home inspections usually range from $200 – $400.  The only reason this will be beneficial to you, the seller, is to let you know ahead of time what problems your house may have if you do not plan on selling it “as is”.   The buyer of your home will more than likely order a home inspection also which will tell them the same information.  This is just a way to get ahead of the game and know what money you may have to put out to fix up any problems your home may have.  It will also give you more time to shop around for the best prices to have someone fix whatever is wrong with your home.
  • Shop around for a good real estate agent – you want to make sure you end up with the right real estate agent that can help you sell your Staten Island home for the best price possible.  For more information on how to select the right Staten Island real estate broker click here to read an article I wrote on this subject.
  • Select the right real estate lawyer – making sure you have the right real estate lawyer is a very crutial part of purchasing and selling your home.  Having the wrong real estate lawyer could make the difference between a smooth transaction and a very rough one.  Also, a good real estate lawyer will make sure your not spending any unnecessary money and at the same time will make sure you are protected in every aspect when your going through with your Staten Island real estate transaction.

If you are looking for a real estate attorney in Staten Island feel free to contact me, Steven Decker, at 718-979-4300.  Also feel free to visit my real estate blog at http://www.thenyrealestatelawblog.com to keep yourself informed of other important real estate issues and for more tips on how to purchase, sell and refinance your home.

  • Decker & Decker
    3 Kermit Avenue
    Staten Island, NY 10305
    Phone: 718.979.4300
    Fax: 718.351-3514
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