Tagged: staten island real estate lawyer

November 7th, 2013 Real Estate Law No Comments »

More Home Buyers Purchasing Newly Constructed Homes as New Housing Permits Continue to Rise

A recent report released by the U.S. Department of Commerce showed that housing starts and building permits rose to the highest they have been since last November.  This news comes a month after the housing report for July was released which announced that home sales rose 9.6%, which was the largest monthly increase in sales in the past four years.

While the report showed that construction starts of single family homes dropped 3%, it showed that multi-family homes rose 25.3% after coming off of an all time low a month before in July.  Total housing starts rose 1.5% and building permits rose 2.6%, although the majority of the rise in building permit applications were for two-family, three-family and four-family homes and larger buildings such as condominiums.

All of this information listed in the report released by the U.S. Department of Commerce was released one day after and corresponds along with the report released by the National Association of Home Builders who released a statement saying that its home builder confidence level rose for the third consecutive month in September to the highest it has been in 18 months.

So what does all of this mean for you as a home buyer? The large increase in building permit applications and large number of building permits that have already been issued to home builders will create a larger number of homes for those looking to purchase a house.  Because numbers rose so high in the area of multi-family homes it also mean that there are more condominiums being constructed.  With the rising numbers of people looking to buy new homes home builders are trying to create new affordable homes for the buyers.  Home builders are also hoping that the bill to extend the home buyer tax credit will pass.  In the case that the bill does pass it will more than likely mean that that there will be an even larger number of people in the market to purchase a home.  A larger number of people looking for homes also means a larger number of people who will be interested in purchasing a home that is newly constructed.

If you are interested in purchasing a home in the Staten Island area and need a lawyer to represent you contact Steven T. Decker.  Steven T. Decker is a real estate attorney in Staten Island and represent clients purchasing, selling and refinancing their homes in New York and New Jersey.  If you would like to speak with Steven T. Decker to discuss your purchase, sale or refinance of your home you can contact him 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 »

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 »

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.

November 7th, 2013 Real Estate Law No Comments »

Is it a good time to purchase a home in Staten Island now that housing prices have fallen again?

Housing prices have fallen 7.5% so far this quarter.  This raises the question “Is it a good time to purchase a home?”.

For many people the option to purchase a house is becoming more appealing as the prices fall lower and lower, especially for those who currently rent an apartment because in some cases a mortgage payment may end up costing less than the monthly payment for a mortgage.

As prices continue to fall there are many more people considering buying a home because they will able to get a house at the lowest price, get a good price on a mortgage due to low mortgage interest rates and, as long as they plan on owning their home for the next few years, they may be able to make profit off of their home once the market rebounds fully.

Here are some things CNN has listed as tips when considering to purchase a home:

  • Plan on owning the house you are purchasing for the next couple of years
  • Check out your credit history to make sure it is clean if you are applying for a mortgage
  • Shop for homes you can afford and don’t try to live beyond your income
  • Get professional help from real estate broker
  • Hire a real estate lawyer
  • Get pre-approval for a mortgage
  • Do your homework before bidding on a house
  • Have a home inspection done on the house you are considering purchasing prior to signing the contract (to read more about the value of home inspections click here)
If you are looking to buy a home in Staten Island or any other New York or New Jersey area contact Steven T. Decker, Staten Island real estate attorney.
November 7th, 2013 Real Estate Law No Comments »

Co-op in Harlem offers “stimulus package” to buyers

A new co-op building in Harlem is trying to apply the same ideas for trying to boost the economy to their co-op unit buyers.

Beacon Towers, which was recently developed, is offering a sort of “stimulus package” to anyone purchasing a co-op in their building between now and July 5.

The “stimulus package” being offered to the purchasers of the new york city co-op property in Harlem is a $300 credit towards monthly maintenance fees for one year.

Beacon Towers is saying they are doing this in hopes that it will bring in new purchasers and also help surrounding restaurants and other businesses at the same time.  They said the co-op purchasers are free to use the money they are saving as they please, but they are hoping that they will use some of it to eat out more often or purchase things from the businesses in the area.  They believe this will help both the purchaser save money and will help boost the sales of the businesses in the surrounding Harlem area.

If you are interested in buying a co-op in new york city or purchasing or selling a home in the New York or New Jersey area, contact Steven Decker Staten Island real estate lawyer.

November 7th, 2013 Real Estate Law No Comments »

Tax credit: you may be able to take advantage of it now

You may have recently heard of the tax credit that is available to first time home buyers but something you may not have heard of is that you do not have to wait until 2010 to reap the benefit of it.

If you are looking to purchase a home and take advantage of the $8,000 tax credit that is available for first time home buyers you may be interested in knowing that you can receive the $8,000 tax credit this year.  You do not have to wait to file your 2009 tax returns to claim this credit.  In fact, you may be eligible to re-file your 2008 tax returns and receive the $8,000 credit some time this year (check with your accountant for more details).

In order to be eligible to receive this credit you must be a first time home buyer, purchase a home before December 31, 2009 and remain in possession of the house for at lease three years (or else you may owe the money back).

If you are a first time home buyer looking to purchase a home contact Steven Decker, Staten Island real estate lawyer, to discuss your purchase and get you started on your way to owning your first home.

Steven Decker helps new buyers close on the home everyday.  For more information contact Steven Decker at 718-979-4300 or sdecker@deckerlawsi.com.

November 7th, 2013 Real Estate Law No Comments »

Hopes are high for real estate tax credit extention

One of CNBC’s reporters, who recently attended the National Association of Realtors conference in Washington, D.C., is reporting that the Federal Housing Administration is hoping to be able to further strengthen the economy by working on a plan to provide more assistance to home buyers.

One of the options being discussed by the Federal Housing Administration is to offer a tax credit extension.  They would do this by giving all home buyers the tax credit that is currently being offered to first time home buyers.

The Federal Housing Administration believes that this will help jump start the real estate market and in turn help the economy as a whole.

If you are looking to purchase a house in Staten Island contact Steven Decker, Staten Island real estate attorney at 718-979-4300 or sdecker@deckerlawsi.com.

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    Phone: 718.979.4300
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