Tagged: housing market

How Do I Know What to Do In This Real Estate Market? Is It Time to Buy or Sell a Home or Not Do Anything?

The real estate market these days can be so confusing no matter where you live in America and one thing you have to understand is the national housing reports may not reflect your local real estate condition or it may.  With there being so many conflicting reports in the news about the housing market how are you supposed to be able to determine if it is a good time to buy a house, sell a house or just hold off from doing anything?

We understand that it can be difficult to figure our what you are supposed to be doing and looking in the newspaper or searching the internet news section to this answer may only make things more confusing for you.  The only way to get the honest opinion of what move is best for you in your areas real estate market whether you live or are looking at a home in Staten Island, Brooklyn or any other part of New York is to speak with a real estate expert.  Speaking with a real estate expert such as Steven Decker Staten Island real estate lawyer will help you determine what is good not only in your areas housing market but also what is best for you personally.

To speak with Steven Decker and our real estate team at Decker, Decker, Dito & Internicola, LLP call 800.976.4904 or email us and we will help you determind what move is best for you right now, if any.

Quick and Inexpensive Home Fix-ups that Can Help Your Home Sell for More

If you are considering selling your home but know it needs some fixing up and do not have the money for expensive repairs and fix-ups there is still hope for selling your home.  Doing some quick fix-ups to the appearance of your home can help you get more for the value of your home and won’t cost you much either.

Here are 15 quick fix-ups that can get your more money for your home:

  • Remove excess furniture
  • Remove excess clutter
  • Clean out your closets and organize anything that needs to stay in there in an orderly fashion
  • Patch up any nail holes in the wall that do not have pictures hanging on them
  • Keep your lawn mowed
  • Wash exterior and interior or windows thouroughly
  • Paint or replace your front door if needed
  • Power spray the outside of the house to get rid of excessive dirt and cobwebs
  • Replace the welcome mat at the front steps if the one your currently  have looks used
  • Paint or replace your mailbox if necessary
  • Wash or replace the front porch light fixture
  • Make sure your house has the house number well displayed and that the display is clean
  • Thouroughly clean the house before you put it on the market – sweep, mop, scrub, shampoo your carpet or wax your floors
  • Re-do anything that is worn down in your kitchen and bathroom
  • Re-paint the interior of your house if you are in need of a paint job

Having any edge over everyone else in this economy will  help your house sell for more and will make your house look more appealing and like it is worth more.  Once you have a buyer for  your house you will need to find a real estate lawyer in your area.  If you are looking for a real estate lawyer in Staten Island or if you are selling your Brooklyn, Manhattan, Queens or Bronx New York or New Jersey home you can contact us at 800.976.4904 to find out how we represent clients selling their home like you everyday and how we can be of assistance to you.

Purchasing an Investment Property in a Down Economy

With the housing market still in the process of recovering and housing prices still at a low it is very easy to understand why buying a house in today’s market could be beneficial to a potential home buyer.

Those considering purchasing a home as an investment property are in a great position at this point in the economy.   If you are purchasing an investment property to flip in a few years, even though you may not be able to take part in the housing credit (see why by clicking here) you are still at an advantage when compared to a few years ago when the housing market was doing well and home prices were much higher.

A recent survey by Move.com showed that the percentage of people who purchase houses because they are interested in investing in real estate have doubled since March 2009.  Among the main reasons people are being drawn to invest in a property by buying a house are affordable houses and foreclosures.

  • Affordable Prices – Low housing prices are one of the main attracting factors when people consider buying a house as an investment property at this point and time.  Right now the economy and the housing market have began to recover but have not recovered nearly enough for sellers to raise the sale price on their homes.  Those looking to purchase a home at a low price now have the opportunity to hold onto it for the next few months or years – basically until the housing market improves enough to sell the house at a higher amount – and then sell it.  Low housing prices may not only be attributed to just being low to be sold but may also be because of many family’s choosing to sell their property as a short sale.
  • Foreclosures – In recent months foreclosures have been at an all time high.  While this is bad for the people whose houses are being foreclosed on it is beneficially to people looking to invest in a house.  Buying a home at as low as a price that one may be able to find a home that is being foreclosed can be very beneficial to the purchaser.  At times foreclosures need to be fixed up and may have underlying problems that you may not be aware of but if you are will to invest money into a house and fix it up if necessary this may be a great move for an investment house.

Regardless of if you are purchasing a home for the first time or if you are looking to purchase a home to invest in the value of an experienced real estate attorney cannot be replaced.  Hiring a real estate lawyer is key when you are purchasing a property and should not be overlooked.  Make sure that the real estate lawyer you choose is knowledgeable and experienced in the type of sale or purchase that you are considering.  Always ask the attorney you are considering questions so you will know if they are the right attorney for your real estate transaction.

Housing Tax Credit Extension Approved | It is Time to Take Advantage of the Housing Credit

It is finally official after months of protesting to the lawmakers real estate agents, builders and banks finally voiced their concern for the housing market loud enough that their concerns were taken into consideration and were granted the tax credit extension they were looking for.  The First Time Homebuyers tax credit will now be extended until mid 2010 (military members who are deployed will have a longer period of time to take advantage of the tax credit) and will not also include additional housing tax credits for current homeowners looking to sell their house and purchase a new house.

The decision to extend the tax credit to existing homeowners purchasing homes was decided becuase 60% of buyers currently own a home or have owned a home within the past 3 years whereas only 40% are first time home buyers.  Congress figures that by extending this credit to current homeowners it will boost home sales even more, by an estimated 10%, over the next few months.

If you are interested in taking advantage of the housing credit you will want to start your search for a home sometime within the next few months because you want to allow yourself enough time to find a house that you like and can see yourself living in for the next few years.  You will also want to allow enough time to get approved for a mortgage, if you plan on obtaining one, and to make sure the title is clear of all violations.

Finding the best Staten Island or Brooklyn real estate lawyer is key to making sure that your real estate transaction goes smooth and is done properly.  To contact Staten Island real estate attorney Steven T. Decker regarding your Staten Island, Queens, Brooklyn, Bronx, Manhattan or northern or central New Jersey property purchase you can either call 800.976.4904 or 718.979.4300 or you can fill out our form on the web and someone will get back to you about your purchase.

Senate Considering Housing Credit Extension

This week Senate leaders have been more open about the talks of extending the housing credit that is available to first time homebuyers.  While Senators have yet to come to a decision as to what type of extension will be put in place they are highly considering some type of extension.

Senator Majority Leader Harry Reid and Senate Finance Committee Chairman Max Baucus are proposing that the housing tax credit be extended throughout 2010 but decrease in amount quarterly.  The credit would continue at $8,000 until the end of the first quarter and if successful would continue into the second quarter but will only be for a tax credit of $6,000 and so on and so forth until the end of 2010 at which time the last quarter would consist of a $2,000 tax credit for first time homebuyers and then would end at the end of 2010.

Another idea that is being proposed by Senator Banking Committee Chairman Christopher Dodd and Senator Johnny Isakson which is that the first time home buyer tax credit should be extended until June of 2010 but will be able to used by all first time home buyer couples who make less than $300,000 a year.

While the Senate has not decided on the exact terms of the extension yet House Speaker Nancy Pelosi said “generally we do support it” when asked about the tax credit extension but she also said that it is still too premature to determine if and under what conditions the first time homebuyers tax credit will be extended until the Senate reviews the situation and comes up with a proposal.

The consideration to extend the housing tax credit comes after mortgage brokers, real estate agents and home builders have been putting pressure on lawmakers to extend the first time homebuyer tax credit which they believe will cause the housing market to slump if taken away prematurely.