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Archive for March, 2009

logo8Between the lowered home prices, the incredible REO property values and the new tax credit for first time buyers you now see the benefit of buying versus renting, but what do you do now?

This is the time to position yourself for home ownership and time is of the essence.  The first thing you need to do is collect all of your financial information.  hammockChances are that you have just finished having your taxes done.  Before filing the papers away take them to a mortgage specialist to determine how much home you can afford in today’s market.  This can be a daunting task.  Don’t let your apprehension get the better of you.  Remind yourself of all the benefits of home ownership and you can sail through this period of pre qualification.

Once you know how much home you qualify for give us a call at Island Advantage Realty, LLC.  We are the authority in REO properties for the metro NY and Long Island Areas.  We can help you find the REO to fit your family’s needs and budget.

The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances.  Make sure that you consult a real estate professional, financial consultant or accountant before taking any action.  For further information or questions please contact Gabriella@IARNY.com

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logo8There has been a great deal of press lately over the canceled book Angel at the Fence by Herman Rosenblat. The book was to detail Rosenblat’s time as a teenager in Buchenwald, and the young girl who threw food over the fence in order to keep him alive.  A girl that, according to the story, he reunited with years later and married. 

Now Rosenblat has admitted that there was no girl at the fence feeding him.  I feel very sad that Rosenblat’s story will not be told now.  tulipsAs a granddaughter of holocaust survivors I am saddened that a story of surviving Buchenwald, finding happiness with a woman who survived the death marches and being married for more than 50 years, wasn’t “enough” without embellishments.  There are some things that need no embellishment.

I also find it frustrating when I read advertisements or other Blogs about REO properties that make it sound as if the banks are selling these properties for pennies on the dollar.  It isn’t true and any one who make these assertions is simply try to manipulate you into their office.  REO properties are a great opportunity, they are a wonderful value and you can save a substantial amount of money by purchasing one, but they aren’t giving them away.  To even imply they are cheapens the property.  REO properties are sold for fair market value minus the cost of necessary repairs; this is a great deal that requires no embellishment.

If you are interested in working with honest, experienced REO professionals I hope you will call Island Advantage Realty, LLC.

The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances.  Make sure that you consult a real estate professional, financial consultant or accountant before taking any action.  For further information or questions please contact Gabriella@IARNY.com

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logo7REO stands for Real Estate Owned, this term is used for properties that have been foreclosed upon but did not sell at auction.   These “bank owned” properties are sold on the open market much the way traditional homes are.  Banks will contract with a reputable realtor to sell the property for fair market value minus the cost of any necessary repairs.

REO properties are a great way to purchase a property for less money than traditional properties.  Single red tulup in a field of yellowsBecause the properties are owned by banks there is usually a faster, no-nonsense escrow with the majority of the negotiations taking place before escrow.

For many families buying REO property is the perfect way to purchase a home and save money.  If you are interested in purchasing REO property please call Island Advantage Realty, LLC.  We are the experienced REO Realtors and can help your family to enjoy home ownership.

The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances.  Make sure that you consult a real estate professional, financial consultant or accountant before taking any action.  For further information or questions please contact Gabriella@IARNY.com

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logo7The Economic Stimulus Package is a long document with many different provisions.  Sorting out what it means to you can be daunting.  One of the great opportunities in the new legislation is a tax credit for first time home buyers.  The bill defines a first time home buyer as some one who has not owned a primary residence in the last 3 years. So even if you currently own a vacation home you may qualify.

The tax credit is for 10% of the home purchase up $8,000.money  There are salary caps but a couple making less than $150,000 will not be affected by the salary cap.  This tax credit is also refundable so if your tax liability is less than the credit you will receive the difference in a refund check.  If you own your home for more than 36 months you do not have to repay the credit ever.  But you need to act quickly, this tax credit can only be applied to homes purchase between Jan. 1, 2009 and Dec. 1, 2009.

For more information contact Island Advantage Realty, LLC the leader in REO sales for the metro NY and Long Island areas.

The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances.  Make sure that you consult a real estate professional, financial consultant or accountant before taking any action.  For further information or questions please contact Gabriella@IARNY.com

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logo8This is the time of year when everything seems possible.  Gardens are still in the planning stages.  High school seniors are starting to dream of graduation and the warmth of spring and summer seems like a near possibility.  In this period of possibilities it’s always great to take a few minutes and consider what you are wishing for.  I met a client the other day who keeps a wish jar on her kitchen counter.  Any time someone in the family is wishing for something they write it down on a piece of paper and put it in the wish jar.  wishesThen on a day when someone is feeling low they take a wish (at random) out of the jar and try to make it happen as a family.

I met this family because someone had written a wish “Own our own Home”. That wish brought them to Island Advantage Realty, LLC.  We are in the business of helping families in the metro New York and Long Island areas to fulfill this all important wish in an economically sound way.  If you would like to own a home or your own, please give us a call, we would be happy to help you.

The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances.  Make sure that you consult a real estate professional, financial consultant or accountant before taking any action.  For further information or questions please contact Gabriella@IARNY.com

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logo8I saw Regis Philbin play the piano the other day.  I don’t know a lot about playing the piano, but he was quite good.  This was astonishing to me because I remember when he started taking lessons.  I don’t know how long ago it was, probably ten or fifteen years ago, I was probably home from college and my mother was watching his show.  Kathy Lee was still on the show then and I remember Regis announcing that he was going to start piano lessons.  Music Room.I remember thinking, “Wow, at his age….”  Now here he is playing the piano as if he has played his whole life.  It just goes to show, it’s never too late.

I hear people refer to things being “too late” all the time in real estate.  Timing is a huge factor in real estate, there are real opportunities that come and go.  But it is only ever “too late” if you don’t participate at all.  Imagine if Regis Philbin had believed it was too late to learn to play the piano, he would have missed out on the enjoyment of playing.  Don’t miss out on the enjoyment of home ownership because you think it is too late.  It is not too late, but someday it will be.

The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances.  Make sure that you consult a real estate professional, financial consultant or accountant before taking any action.  For further information or questions please contact Gabriella@IARNY.com

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logo8I love this time of year.  The cold winter starts to fade and the promise of spring is in the air.  My favorite thing about this season is the return of the Snow Birds.  These are the members in my family who have retired and rather than brave the harsh New York winters they will trek to sunny Florida for the cold months.  In March they return with a flourish, full of stories of sunshine and all you can eat buffets at 4 o’clock in the afternoon.

This year for the first time my parents are part of the flock that made the journey to warmer weather.  snow-bird1My mother reports that she and my father have enjoyed golf, live theater, dancing and endless bridge games.  That makes me happy.  While so many other couples who were scheduled to enjoy retirement this year were forced to reevaluate after the market downturn, my parents were able to leave on schedule, all thanks to their investment in REO properties.

If you are interested in diversifying your retirement investments with REO property give us a call at Island Advantage Real Estate, LLC.  As the recognized experts in REO property for the Long Island and Metro New York areas we have helped countless New Yorkers secure their future through valued real estate.

The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances.  Make sure that you consult a real estate professional, financial consultant or accountant before taking any action.  For further information or questions please contact Gabriella@IARNY.com

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