Tag Archives: Brooklyn Real Estate

Brooklyn Brownstones are Moving Fast

Brooklyn Brownstone townhouses

Over the course of the next week or so we will be discovering and discussing what are Brooklyn Brownstones, their history, who owns them and their value. There are many brownstones throughout numerous New York City neighborhoods, especially in the Brooklyn neighborhoods of

Park Slope, Clinton Hill, Fort Greene, Cobble Hill, Prospect Heights, Brooklyn Heights, and Bedford Stuyvesant. The Manhattan neighborhood of the Upper West Side, too, retains many brownstones.

Sandstone with a reddish brown color caused by the dissolved iron oxide in the rock, is called brownstone. It was very easy to mine and carve and became very popular in the 19th century. New York and Boston both have a large number of brownstone homes that were built in the form of terrace or row houses with raised entrances. Harlem, Park Slope, and Brooklyn all have large numbers of such homes in varying condition. Brooklyn Brownstones are highly desired.

It is believed that in the late 1800’s Irish Catholics started to appear in Brooklyn, mainly Sunset Park and were soon followed by Polish immigrants. They found jobs nearby in Green-Wood Cemetery and Park Slope’s Ansonia Clock Factory. (photo credit: Brownstone Awaiting A Wrecking Ball, NYC 1959, by Dmitri Kessel, from the Brownstone Revival Coalition)
The Scandinavians began working as shipbuilders. In 1916 they joined together to build ‘apartments’.

Row house developers started using ‘brownstone’ as their material of choice. Brownstone was very easy to excavate and easy to work with as they could ‘form’ or carve it to fit their needs.

Post war the Brooklyn Brownstones were built for influential members of ‘high society’. Condos came into the picture and neighborhoods began to grow. There are hundreds of Brownstone homes enjoyed by families today.

Can you imagine living in a building with so much rich history? Made with love, sweat and I am sure blood and tears, these are some of the most beautiful homes, condos and apartments around.

You can find Brownstones in all areas of New York including NYC, they are also prevalent in New Jersey as most of the stone was mined there.

Brooklyn Brownstones have always been an excellent investment and never stayed in the listings very long. I also noticed how much higher the prices had began to rise. As a Realtor/Broker I am always invested in all areas of real estate but in my own home town I could not believe the phenomenon that was happening. This is the 3rd and final in our Brooklyn Brownstone series.

I began asking around and doing property searches to see why these famous Brownstones were flying off the market and much to my surprise they were being highly sought after by foreign investors, yes foreign investors. I found this really informative article giving the scoop on this hot market topic and I would like to share it with you,  Foreign investors ‘buying up all the brownstones in Brooklyn and pushing prices even higher’

Follow us to learn who desires these properties the most!  Or call me and lets find you one.

Advice To Help You When Purchasing Property

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If you’re new at purchasing real estate, then you might want to read this and then employ the help of reputable real estate agents. Pros have lots of resources you don’t, including computer software that allows one to effectively search all MLS listings. The MLS tools available to professionals are more detailed than those accessible by the average individual, and are able to advise you with greater accuracy and insight. Many first-time home buyers don’t bother to get prequalified. They, also, don’t take the time to shop around and find the best mortgage for their individual situation. It’s crucial to ask questions and make sure you fully understand the home loan process.

Getting pre-approved gives the buyer a chance to find out how much home they can afford. A competent loan officer will tell the buyer not only the principal and interest payments per month, but also the estimated taxes, insurance and mortgage insurance monthly amounts. This gives the borrower a true number to work with in order to decide their comfort zone when looking at potential properties. Also, sellers will be more interested in negotiating with you, and accepting you as their purchaser, if you’re working with a good RE agent, and if you’ve already been pre-approved for a mortgage loan. If you are not pre-approved, it can lengthen the timeline of the purchasing process, and can result in additional costs.

Before buying a home, get an inspector to examine it. You don’t want to have a home that needs tons of renovating. Not only will this cost a lot, you might need to change your living situation until it’s fixed.

One simple way to start the entire real estate buying process is to get organized. You should have a notebook full of the information you get from newspapers, friends, online, and also from your agent. This will avoid confusion and make it easier for you to compare different offerings. Remember that your offer is very unlikely to be the only one on the table, so make a good offer. Do what you can to ensure it’s appealing to a seller.

If you are looking to purchase some of or all of a building in order to open a business, make sure it is in a good neighborhood. When you open a business that is located in a poor neighborhood, most likely you will not have a large pool of customers. Real estate agents will be able to advise you as to the best places to open a business. It’s easy to get wrapped up in your present needs, but you should also think about reselling the home before you buy. The average first-time buyer expects to stay in a home for around 10 years, according to the National Association of REALTORS®’ 2013 Profile of Home Buyers and Sellers. Factor maintenance and repair costs into your buying budget, because even brand-new homes will require some work. Don’t leave yourself short and let your home deteriorate.

When deciding on an agent, it is important to have a list of questions already planned out. You will want to know how many homes were sold during the previous year, as well as the number in your target area. The agent should be prepared to answer all of these questions in a professional manner. It’s absolutely vital that you find a real estate professional who understands your goals and who is ready and able to guide you through the home buying process.

If you’ve made an offer for a house that seller didn’t take, don’t be discouraged, since you might find a better home. See if they might offer to cover closing costs or necessary repairs prior to you moving in.

Request a checklist from your Realtor to put yourself in the best position before buying. There are many Realtors that have a checklist like this already prepared. It covers the entire home-buying process, from choosing a house to getting a loan. Using this checklist can help you make sure that you have completed everything in time to close the sale.

sold101As this article shows, buying real estate is not as complex as it seems. You must take some time to educate yourself and ask a lot of questions, but the potential profits are well worth the invested time. If you use the above tips, you should be able to make a wise decision on your next real estate purchase.

Call me for your next good adventure..!

 

The Home Buyer’s Guide

BPOcontrctBrooklynnyBPO agents bring the whole package to the table. You are anxious and excited to be purchasing your home and we want you to know, you will not walk alone. We bring a wealth of knowledge and partners with us. Take a peek.

Brooklynnybpo.com LLC is made up of people, and people buy homes. We’re not just experienced real estate professionals in the New York City, Brooklyn, Bronx, Queens, and Staten Island real estate markets, we’re home buyers too. It takes more than a trained real estate agent to understand the needs and concerns of buyer clients. It takes someone who has been there, someone who has the same concerns when they’re home shopping.

We don’t want to minimize the technical aspects of the home buying process though. Every year it becomes more Continue reading

Basics Of Home Buying

bpoThe most important investment you will ever make is probably the purchase of a home. Finding the right home for you can be a long and arduous process, but there is no getting around that.

Know Your Wants And Needs

Before embarking on your journey of house hunting, you must know what you really want to find. Sit down with pen and paper and list all the features you care most about, such as:

– Location (in a particular city, school district or neighborhood)

– Size — how many bedrooms and bathrooms

– Parking — a 1-car garage or 2?

– Style — 2-story house or ranch style home?

– Heating — central heating and/or air conditioning?

Equally important, on a new sheet of paper list all the features you absolutely do not want in a house. For example:

– high-traffic area.

– high noise area (airport, train station or highway in close proximity)

– maintenance — major repairs needed

As you look at houses, keep both lists in mind. Your lists may change over time as you do more looking. You’ll want to add or remove features, or perhaps you’ll become willing to make compromises. Realize that you most likely will not find the “perfect” home. Experienced homebuyers will tell you, perfect homes are not found, they are made perfect through hard work.

Get Your Credit Report In Order

Prior to looking at properties, you must get your finances in order. This is the time to review your credit report and clean it up, if need be, to maximize your credit score. Many people do not realize how important it is to check your credit report periodically to make sure it is accurate. You should pay off any past due amounts, or negotiate a settlement price to close the debt. Get such agreements in writing, before paying any settlement. Keep all receipts for any settled items from your credit report since it may take months to get the debt actually removed.

Research Your Home-Buying Options

Decide what kind of property you are interested in. Do you want a HUD property, a foreclosure, real estate, or property for sale by owner?

A number of web sites list homes according to city, state, or price range. Visit http://www.brooklynnybpo.com to see pictures of homes, many with virtual tours, and review the listing features.

Get Pre-Approved For A Loan

You’re ready now to find a lender and get yourself pre-approved for the loan. Being pre-approved offers a number of advantages. It will clarify the price range you can afford. Also, once you find the home you want, you can place an immediate offer. If you have to wait for pre-approval, someone could buy the house right out from under you.

Several special programs are often available from lenders, such as the FHA or Ameri-Dream, that can save you money in the closing. Ask the lender about any special programs before you decide on a loan.

Find A Good Real Estate Agent

It is wise for the first time homebuyer to work closely with a real estate agent, no matter what type of property you’re looking for. A knowledgeable real estate agent will make your house-hunting much easier. A good real estate agent is usually a good negotiator, and will be able to help you with the complicated paperwork involved in placing an offer on a house or in closing a deal.

It’s essential that you have a real estate agent working for you as the buyer, rather than relying on the seller’s agent for the house you want to buy. The latter can involve a conflict of interest, which usually works to your disadvantage.

To select a real estate agent, you should check with your friends and neighbors for recommendations. Find an agent you feel comfortable with and who is knowledgeable about the area you hope to buy in.

These are just the basics of home buying. You will find many details you need to master as you move through the buying process, but having these basics under your belt will give you a head start.

We have more than 30 years experience in real estate, check us out!

For Sale: Crown Heights Brownstone

1598 union stExceptional 2 family Crown Heights Brownstone with over 3500 sq/ft of space.  This large house maintains many original details, high ceilings and tons of light throughout. The house features newly refinished hardwood flooring, sky lights, updated electric and so much more. Close to Prospect Park, Brooklyn Museum, Eastern Parkway and the Botanic Garden. Good Access to transportation.

Call Brooklyn NY BPO today! (347) 406 8369

Home Inspection, It’s A Good Thing

DSC04367 (Small)Home inspection is key when buying a home. It is unwise to skip the home inspection. An inspection can cause a potential homeowner to fall more in love with a home or fall out of love  just as quickly.

A common misconception is that a home inspector will find everything that is wrong with the home they are inspecting.  A home inspector will find thing that are visibly wrong with the home. They will not take things apart to find potential problems with a house. They will not be able to tell you if there is mold unless it is visible to the eye. They will not be able to tell you how long until you have to replace the roof. They will however, be able to tell you of the roof is a hazard and needs to be replace immediately.

According to http://www.americanhomeinspectordirectory.com, inspectors look at the following:

  • The inspector will examine exterior features such as outside walls, soffits, decks, the roof, chimneys and drainage conditions; for neglect or severe damage.
  • The inspector will examine interior items, such as the condition of windows, doors, plumbing fixtures and electrical outlets and switches;
  • The inspector will examine heating and cooling systems for leaks and visible damage to the unit.
  • The inspector will examine the attic, basements and crawl spaces and whether they have adequate insulation and ventilation. They will also check for dampness, water damage and odor.

Home inspection reports should be written and problems explained in detail by the inspector. Home inspector reports will be provided to the potential homeowner by their real estate agent.

Home Inspection, It’s A Good Thing!

 

Fixed Mortgage Rates

According to Realtor.com Key fixed-mortgage rates continued falling for the fourth consecutive week, hitting new 467457057lows for 2014 that are expected to hold steady in the short term.

Key fixed-rate loans are now trending at 4.14%––the lowest level in seven months, according to the latest survey by mortgage buyer Freddie Mac. That average rate is down from last week’s 4.20%. A year ago the average on a 30-year fixed mortgage was 3.59%

Read the whole story from Realtor.com right here!

Brooklyn Housing Market Today

clear camera 253 (Small)Whether you are buying, selling or investing in residential property it is always a smart choice to check out what the Brooklyn Housing Market is doing today or better yet, for the last quarter. I use several sources to seek  out my information but for an individual a really great place to go is Trulia.

According to Trulia, the average price per square foot in Brooklyn is about $581 which is up 9% percent from last year. The average price for a home is around $600,000.  Trulia does an awesome job of breaking it down by neighborhood. Take a moment to check out the housing market. When you are done, cruise over to my website and see all of the properties I have for sale. I also have apartments for rent and I am happy to help you locate exactly what you want.

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Agent 2 Agent

agent2agentAre you a Real Estate Agent in an area that seems totally saturated with other agents? Do you feel like you have tons of competition and are scrambling for ways to beat them out? That is Agent vs Agent instead of Agent 2 Agent.

Other agents in your area hold a wealth of information that can be vital to your business and your industry. It is important as well as beneficial to go to real estate related functions like the Real Estate Professionals Networking Mixer that was held in March or The Real Estate Professionals Education Forum that is on May 21st.

Networking is not over rated, it is essential. While socializing you may just find that an Agent has a client looking for a particular type property which you may have, maybe hasn’t even hit the market yet. Or you may hear the name of a great Home Inspector or Insurance Agent, all of which your buyer/seller will need.

Up to date laws are usually reviewed as well as market trends and the  economy. All which are a part of your business. Get to know other Agents/Brokers for you are never to old or too smart to learn a new concept or perfect an old one.

 

Spring Home Buying Season

small_R_blue_jpgAccording to realtor.com® The spring home buying season is off to a stronger start than at this time last year, with modest price increases and a spike in inventory, according to realtor.com’s National Housing Trend Report for March. 

The number of properties for sale on realtor.com® in March rose 9.5% above March 2013 levels, to 1,841,844 units, according to the report. The median list price of $199,900 was 5.3% higher than in March of last year, and the median age of inventory increased 22.9% above the year-ago figures, to 102 days on the market, the report’s data showed.

Informative full story 

Renovation Revolution

It hasn’t been so long ago when Americans were losing their homes or so far underwater they walked away. Thankfully the Government stepped in and many have been able to stay in their home. Optimism on a better economy has brought on the Renovation Revolution.

I was speaking to a client who was considering selling her home but has since changed her mind. I asked her what was causing her to hesitate on the sell. She told me   Continue reading