Real Estate New York

Market Update August 2007

Short Sales

Valuable Information for Buyers and Sellers

A short sale is a sales transaction in which the seller's mortgage lender agrees to accept a payoff of less than the balance due on the loan. A property in danger of foreclosure offers an opportunity for buyers to profit and sellers escape the damaging effects of a foreclosure.

The National Association of Realtors (NAR) offers a wealth of resources on the ins and outs of the short sale process for profit as well as protection.

However, the short sale is often best left to the professionals. But knowing the basics is essential.

Click for NAR Resource Page on Short Sales

The Victorian

Victorian architecture dates from the second half of the 19th century, when America was exploring new approaches to building and design.

Advancements in machine technology meant that Victorian-era builders could easily incorporate mass-produced ornamentation such as brackets, spindles, and patterned shingles. The last true Victorians were constructed in the early 1900s, but contemporary builders often borrow Victorian ideas, designing eclectic "neo-Victorians." These homes combine modern materials with 19th century details, such as curved towers and spindled porches. A number of Victorian styles are recreated on the fanciful "Main Street" at Disney theme parks in Florida, California, and Europe.

Click for complete article By Barbara Ballinger

Women & Money

Owning the Power to Control Your Destiny

The #1 New York Times best-selling author's groundbreaking new book investigates the complicated relationship women have with money. Suze Orman equips women with the financial knowledge and emotional awareness to overcome the blocks that have kept them from making more out of the money they have. In chapters such as "You are Not on "Sale," "No Shame, No Blame," and "The 8 Qualities of a Wealthy Woman" Suze delivers her signature mix of insight, compassion, and soul-deep recognition. At the heart of the audiobook is "The Save Yourself Plan" – a streamlined, five-month countdown that delivers genuine long-term financial security. But what's at stake is far bigger than money itself; it's about every woman's sense of who she is and what she deserves, and why it all begins with the decision to save yourself.
Click for Free eBook Loan

Offers and Counter-Offers

Writing Offers and Negotiating Acceptance

How you write a winning offer depends on your marketplace and whether it is a seller's or buyer's market. Find out what needs to be listed in your offer to give you the edge. As a buyer, how do you write contingencies that will let you cancel the deal and get your deposit back? As a seller, learn how to give up the battle and win the war through counter offers.

click for complete resource from About.com

Riding Real Estate Waves 2007

How to time the market to maximize both buying and selling

These are confusing times for anyone who wants to buy or sell a home. It's national news that homeowners in higher priced markets are taking a beating on their investment. Both foreclosures of sub-prime and now quality borrowers of second-lien loans are on the increase. Many owners are being forced into compromising positions. And while this may seem like good news for home buyers, it isn't if the home they buy today is worth less tomorrow or next year when an unforeseen personal problem may force them into a short sale that often requires taking money from their savings to essentially pay someone to take their home. This is what is happening every day in formerly hot markets across the country. Add to this the increasingly difficult aspects of obtaining cheap credit and the American dream of owning a home, and profiting from its appreciation, seems ever more unobtainable.

Click for complete article by Dennis Maier
Principal Realtor Broker Real Estate New York