staten island: Economic Stimulas Package
- 02/07/08 02:00 PM
The economic stimulas package has passed through the house and is heading to the President's desk. More important than rebate checks, we can be seeing a raise in FHA limits. Over the past 7 years, FHA has lost market share because the limits in our market of NYC would be easily surpassed. This raise is long overdue, and while I don't see it causing a rise in home prices, it should help stabilize some housing prices. Couple this with lower rates, and guess what, now is an incredible time to buy, acquire, and invest in real estate - especially in markets like … (2 comments)
staten island: Recent Foreclosure Ruling Sets Precedent
- 02/05/08 12:46 AM
Yesterday, there was an article in the Staten Island Advance www.silive.com, that discussed a recent ruling which homeowners prevailed in staving off the foreclosure. The article went on to mention that the homeowners could not make it the first year before falling behind. While they would of qualified for a traditional home loan (presumably FHA) they instead were "improperly pushed" in to a high interest subprime loan. The judge ruled that the homeowner could be entitled to reimbursement for fees, payments and the mortgage my be unenforceable. Unenforceable? This is not to say that there were not some mortgage brokers who were … (2 comments)
staten island: Is there anything reliable about Staten Islanders commute?
- 01/22/08 02:43 AM
There was an interesting feature in Sunday's New York Times on commuting in NYC. This week they focused on Staten Island transit, the SIRR and the Ferry. There is a tradeoff in Staten Island. More house and property for the money, but a commute to Manhattan that could create challenges for the city worker. But, what we do have, in terms of train service (while not enough) and ferry is highly efficient. On time, reliable and factored in, creates comfort and balance in the city commuter. If you drive and get stuck on the Verrazano Bridge during the morning rush, you're probably … (4 comments)
staten island: BNI - INTERNATIONAL NETWORKING WEEK!!
- 01/13/08 11:34 AM
In October of '06, three professionals sat in a corner at Perkins on Amboy Road and started a wonderful journey. We created the beginning of Profit Partners, the BNI chapter that meets every Wednesday morning at 7:00 A.M. BNI (BUSINESS NETWORK INTERNATIONAL) is the most successful organization of it's type in the world. There are thousands of chapters throughout the world, which has given millions of referrals, which has equated in to BILLIONS in business for its members. BNI has a very specific structure. Each chapter is comprised of one professional in their field - owners, managers, independent contractors, one member for … (1 comments)
staten island: Staten Island's Growth
- 01/07/08 01:23 PM
In just 3 weeks, I've seen Staten Island representation in Active Rain increase nearly 50%. Way to go. For too long Staten Island has had a representation of being slow to adapt to real estate innovations taking place throughout the country. I think this is a great sign for the island real estate community as we grow, learn and retool for a new market. There are a tremendous group of real estate professionals, realtors, lenders, attornies and appraisers available on the island. This is a great way to allow those outside the island to recognize that fact. Here's to the continued … (1 comments)
staten island: 2008 THE YEAR FOR THE INVESTOR --- part 2
- 12/31/07 05:15 AM
This post is continued from my previous entry.... While most of the pundits are calling for a "bad market," investors should be looking at 2008 with optimism. But that should be tempered with prudence as this market is not with out pitfalls. The opportunity in '08 lies the potential for real cash flow accumulation. But look beyond the ads that promise "positive cash flow," or "investors delight," because you have to account for financing - so have those arrangements beforehand. Which brings me to investor resolution #3: Treat each piece of property as a business. If you were going to buy a business … (1 comments)
The economic stimulas package has passed through the house and is heading to the President's desk. More important than rebate checks, we can be seeing a raise in FHA limits. Over the past 7 years, FHA has lost market share because the limits in our market of NYC would be easily surpassed. This raise is long overdue, and while I don't see it causing a rise in home prices, it should help stabilize some housing prices. Couple this with lower rates, and guess what, now is an incredible time to buy, acquire, and invest in real estate - especially in markets like … (2 comments)
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