Found 7 blog entries tagged as Selling.

 

Staten Island offers a unique blend of urban convenience and suburban charm, making it an attractive option for homebuyers. But remember, timing your purchase right should also consider your circumstances. This guide will explore the best times to buy a house in Staten Island in 2024, considering seasonal trends, market conditions, and your unique situation.

 Seasonal Shifts in Staten Island's Housing Market

Spring (March-May):

Spring is traditionally the busiest season for home buying in the Staten Island real estate market, with more listings hitting the market. While this means a broader selection, it also increases competition and potentially higher prices. However, some motivated sellers might be eager to close before the summer…

74 Views, 0 Comments

Read Full Post

Thinking about buying a home in Staten Island? Great! It's an exciting time. But before you start dreaming about your new backyard BBQ Grymes Hill or your morning coffee on the porch in Todt Hill, let's talk about something a little less glamorous: earnest money. It might sound like a boring topic, but it's actually a crucial part of the home buying process. Think of it as a down payment on your commitment to buying a house. It shows the seller you're serious and helps protect them too. Let's break it down so you can feel confident about your next steps.

What is Earnest Money?

Earnest money, also called a good faith deposit, demonstrates your commitment to purchasing a property. It's typically held securely in an escrow account managed by a neutral…

46 Views, 0 Comments

Read Full Post

 

Suppose you're dreaming of a luxurious lifestyle without the Manhattan price tag. In that case, Staten Island might just be the perfect place for you. According to Rocket Homes, Staten Island's median cost of living is $659,114, significantly lower than the city's. Spacious houses, stunning waterfront views, and amazing school systems are only some of the reasons why looking for houses for sale in Staten Island is ideal for families and professionals alike.

Let's take a closer look at seven of the borough's most sought-after luxury real estate markets, each with its unique charm and character:

Princes Bay

Prince's Bay offers a diverse range of housing options catering to various lifestyles and preferences. Princes Bay has quaint…

278 Views, 0 Comments

Read Full Post

 

The New York City mansion tax, a real estate transfer tax levied on properties exceeding $1 million, can be a significant closing cost for many buyers. This comprehensive guide explores everything you need to know about this tax, from its calculation and who pays it to potential strategies for navigating its impact. Although the tax is named after Mansions, with the average prices of homes for sale in Brooklyn at $1.2 Million or $1.7 million in Manhattan, it’s much more common than the name implies. 


Understanding the Mansion Tax

The NYC mansion tax, a levy on high-value residential property sales, has a long and debated history. Here's a timeline of key events:

1989: The Birth of the Mansion Tax

  • Facing a budget deficit, the…

116 Views, 0 Comments

Read Full Post

Selling your New York home can be a whirlwind of emotions – excitement for a new chapter, tinged with the stress of navigating the complexities of the market. Here at Robert DeFalco Realty, we understand that financial transparency is key throughout this process. Let’s shed light on the various costs associated with selling your New York home, whether you’re in Staten Island or Brooklyn, and equip you with valuable tips to maximize your profit.

Unveiling the Breakdown: From Prepping to Closing

Before the "For Sale" sign hits your lawn, there are expenses to consider:

  • Repairs, Staging & Prep: First impressions are crucial. Potential buyers need to envision themselves living in your space. Minor repairs, a fresh coat of paint, and…

199 Views, 0 Comments

Read Full Post

This blog post by Defalco Realty aims to empower you with accurate information and dispel some of the most prevalent myths surrounding the home buying process. Understanding these realities can alleviate unnecessary stress and guide you towards a successful homeownership journey.

Myth #1: You Need a 20% Down Payment

Gone are the days of a 20% down payment being an absolute requirement. Many lenders now offer programs with significantly lower down payments, sometimes as low as 3-5%. Additionally, government programs and first-time homebuyer assistance initiatives can significantly reduce the upfront financial burden. Explore down payment assistance programs in your city or consult with a mortgage professional to learn about your options.

Myth…

334 Views, 0 Comments

Read Full Post

When looking for houses one term keeps popping up: interest rates. They can seem like a complex financial jargon, but understanding how they work is crucial for making informed decisions and navigating the mortgage landscape.

What are Interest Rates?

Simply put, the interest rate is a percentage of the loan amount that you pay to the lender over the life of your mortgage. It's like the fee you pay for borrowing money.

How Do Interest Rates Affect You as a Buyer?

Interest rates directly impact two key aspects of your homebuying journey:

1. Affordability:

  • Higher interest rates: Translate to higher monthly mortgage payments. This means you may qualify for a smaller loan amount, potentially limiting your home search options.
  • Lower…

485 Views, 0 Comments

Read Full Post