prudential: Should I Rent My House If I Can’t Sell It?
- 08/06/12 03:15 AM
There has been a lot written about how buying a home is less expensive than renting one in many parts of the country. Rents are skyrocketing and homes are at bargain prices. These two situations are also causing some sellers to consider renting their home instead of selling it. After all, they can get great rental income now and perhaps wait until house values increase in the future before selling. This logic makes sense in some cases. We at KCM believe strongly that residential real estate is a great investment right now. However, there is a huge difference between deciding you … (0 comments)
prudential: Foreclosure activity declines on LI
- 02/16/12 12:35 AM
February 16, 2012 by TOM INCANTALUPO / tom.incantalupo@newsday.com Foreclosure activity on Long Island fell last month from December and from a year earlier, but once again experts termed the declines temporary due to legal and paperwork logjams. A total of 423 foreclosure-related documents -- including default notices, auction schedulings and notices of bank repossessions -- were filed in January in Nassau and Suffolk counties, a drop of about 20 percent from December and about 50 percent from a year earlier, according to the California data company RealtyTrac. Nationally, filings in January rose by almost 3 percent from December, to 210,941, said … (0 comments)
prudential: Is It Time for Young Families to Buy a Home?
- 02/06/12 04:41 AM
We have reported that almost six million adults between the ages of 25 to 34 are currently living with their parents. That number reflects an almost 50% increase since 2003. These young adults are now being advised to jump into homeownership. Who are the people selling them on the American Dream? Their parents! It seems that parents of some adult children are strongly suggesting that their children take advantage of the low cost of homeownership available today. Some moms and dads are helping financially and are even co-signing for the mortgage. Middle age parents who have owned a home understand … (0 comments)
prudential: What Does Warren Buffet Think About Buying A Home?
- 01/30/12 01:01 AM
Warren Buffet is seen by many as the greatest investor of our time. When he speaks, people listen. Like anyone else in his position of influence, he is criticized by some for using his bullhorn to promote his own business agendas at times. That makes it very interesting when we occasionally learn of how he privately advises those closest to him. Such a situation occurred this week. Debbie Bosanek, Warren Buffet’s secretary of 37 years, recently purchased a second home in Surprise, Arizona. In an article in the Omaha World Herald, Mrs. Bosanek discussed her reasons for purchasing a second … (2 comments)
prudential: LI foreclosure sales fall 32% in 3Q
- 01/27/12 12:43 AM
The number of foreclosure sales dropped by nearly a third in the third quarter in Nassau and Suffolk counties from a year earlier.. The decline reflects a less aggressive stance by banks, due largely to the "robosigning" scandal over foreclosure record-keeping, and could delay an eventual recovery in housing prices as foreclosure sales continue to weigh on the market. A smaller factor may be a growing willingness by banks to modify mortgages, some real estate observers said. Long Island's 580 foreclosure sales from July through September mark a 32 percent drop compared to the same period a year ago, according to … (0 comments)
prudential: People Are Buying Homes AND GETTING MORTGAGES!
- 01/14/12 01:27 AM
Many believe that very few houses are selling and that almost no one can get a mortgage. We want to let everyone know that neither of these assumptions is true. Recently, the National Association of Realtors (NAR) released their Existing Homes Sales Report. According to the report there are, on average, 12,109 homes selling in the United States EACH and EVERY DAY! That means that approximately 12,000 houses sold yesterday, approximately 12,000 will sell today and approximately 12,000 will sell tomorrow. So the thinking that homes aren’t selling just isn’t true. Another interesting fact in the report was that … (0 comments)
prudential: So What is REALLY going in New York with Forclosures??
- 12/20/11 03:50 AM
Conflicting reports can be misleading and confusing. Let’s see what has been written in the last 30 days regarding NY and foreclosures. RealtyTrac: New York State November 2011 total foreclosures decrease; state continues to rank among lowest in nation 12/20/2011 In its U.S. Foreclosure Market Report for November 2011, which reports default notices, scheduled auctions and bank repossessions in the month of November, RealtyTrac Inc. reported New York State had 1,587 total foreclosures, a decrease of 3.17 percent from October and a decrease of 42.89 percent from November 2010. New York State ranked number 43 of all 50 states for monthly … (0 comments)
prudential: 6 Worst Home Fixes for the Money
- 10/24/11 02:25 AM
By Dana Dratch • Bankrate.com It's the magic phrase uttered by almost anyone who's ever considered the cost of home remodeling: "We'll get it back when we sell." Unless you keep those projects practical, though, you might just be kidding yourself. For example: Steel front door: Good. Master suite addition costing more than the average American home: Bad. Every year, Remodeling magazine looks at the hottest home upgrades and renovations and calculates just how much owners get back with they sell. Upkeep is more popular than upgrades these days, says Sal Alfano, editorial director for Remodeling. These are the projects that … (3 comments)
prudential: Wall Street Journal & Forbes: It’s Time to Buy A Home
- 10/17/11 03:40 AM
Wall Street Journal & Forbes: It’s Time to Buy A Home by THE KCM CREW on OCTOBER 17, 2011 We believe very strongly that now is the time to buy a home. Some will say we are just saying this to create real estate transactions and commissions. Because of that, today we will quote what those outside the real estate profession are saying to the people who look to them for financial advice. The Wall Street Journal Last week, in an article entitled It’s Time to Buy That House, the WSJ told their subscribers: “It’s an excellent time to buy a house, either to live in for the long … (2 comments)
prudential: Protecting your home against rainwater
- 09/23/11 03:37 AM
1. A lot of water Storms produce vast quantities of water on roofs. A ranch home with a roof area of about 2,400 square feet will generate nearly 1,500 gallons of water during a storm that dumps 1 inch of rain. That's a tremendous amount of water to concentrate around the foundation of your home. It can cause significant leakage in basements and crawl spaces. 2. The lowdown Roof water should be piped to the lowest spot on the property, into municipal stormwater systems or, if you can afford it, into a cistern or other collection vessel so the water … (3 comments)
prudential: FSBO A NO GO! A tale of what happened when the owner of FSBO tried to sell his own property!
- 08/22/11 02:49 AM
FSBO a No Go! by THE KCM CREW on AUGUST 9, 2011 · This blog prides itself on the quality of real estate information we deliver each and every day. We try to gather empirical evidence to validate the positions we take. We do not use just an anecdotal story to make a point. We also do not get caught up in the sensationalism of the moment. However, today will be different. We can’t resist commenting on the story which recently appeared in the Wall Street Journal regarding Colby Sambrotto, the founder and former CEO of forsalebyowner.com. It seems the founding father and lifelong evangelist of the concept of … (0 comments)
prudential: Things to Consider Before Renting a Home You Can’t Sell?
- 08/22/11 02:43 AM
In this difficult housing market, more and more homeowners are considering renting their house instead of adjusting the price. We strongly believe that residential real estate is a great investment and therefore can understand this thinking. However, if you have no desire to actually become an educated investor in this sector, you may be headed for more trouble than you were looking for. Before renting your home, you should take the following steps to make sure this is the right course of action for you and your family. Set a consultation appointment with an eviction attorney People rent out their homes … (1 comments)
prudential: Selling Your House? Why waiting may NOT make Sense!
- 08/15/11 02:45 AM
Selling Your House? Waiting May Not Make Sense There have been some bright spots in the residential real estate market over the last couple of months. Several price indices have reported a stabilization of prices and some regions have even shown small levels of appreciation. This has led some to believe that we may have reached a bottom for home values. We must realize that what we are actually experiencing is a ‘window of opportunity’ as the banks are delayed in bringing certain inventories of distressed properties to the market. Let’s look at what others are reporting: Bloomberg Businessweek “The crux … (0 comments)
prudential: 4 REASONS TO BUY A HOME NOW!
- 05/17/11 04:55 AM
As Dean Hartman said last week, the purchase of a home is a personal decision. However, we want to give everyone four great financial reasons why you should not wait before taking the plunge into homeownership.
Interest Rates Are Increasing Interest rates have increased almost 3/4 of a point in the last six months. Most experts expect rates to continue to increase through the year. Interest rates along with price determine the overall cost of a home. Even with prices softening, if interest rates rise, it may be less expensive to buy now rather than wait.
There has been a lot written about how buying a home is less expensive than renting one in many parts of the country. Rents are skyrocketing and homes are at bargain prices. These two situations are also causing some sellers to consider renting their home instead of selling it. After all, they can get great rental income now and perhaps wait until house values increase in the future before selling.
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