Category Archives: Bedford Corners NY

Don’t pass up chance to attend home inspection | Bedford Hills NY Real Estate

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DEAR BARRY: Our home inspection is scheduled for next week. This is the first time we’ve bought a home, and we’re not sure what to do and what not to do. Our agent says it’s not important for us to attend the inspection, and that we should just wait for the report. But we’re uncomfortable with that advice. There are so many things we want to ask the inspector. What do you recommend? –Annamarie

DEAR ANNAMARIE: Your agent is not giving you good advice. The importance of attending your home inspection cannot be emphasized too strongly.

Too many homebuyers miss a great opportunity by not being present at their home inspection. Sometimes this is unavoidable, due to geographical distance. But whenever possible, buyers are strongly urged to participate in the inspection process. Being on site during the inspection, viewing specific conditions in person, consulting with the inspector, asking questions, and obtaining advice greatly magnify the benefits to you, the buyer.

A home inspection is a fact-finding mission in which the inspector is your hired advocate. You and the inspector should jointly engage in the discovery process. Both of you are there for the same reason: to learn as much as possible about the condition of the property.

via inman.com

4 must-knows about mortgage payoff | Bedford Corners NY Real Estate

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DEAR BENNY: I will be soon paying off (in its entirety) the mortgage on my home. For your information, I have been current on my payments throughout the 10-year term. The mortgage company is a credit union, and I intend to continue residing in my home.

Upon full and complete payment of all that is due on my part, is the mortgage company obliged to record a release of the mortgage (deed of trust) in the land registry of the county or execute a promissory note release? What can/should I expect from the mortgage company in proof of the full and complete payoff? –D.S.

DEAR D.S.: Yours is a legitimate question I get from many readers. First, the process is the same whether you obtained your loan from a bank, a credit union or a mortgage broker/banker. You signed a promissory note and a deed of trust (in some states it was a mortgage). The deed of trust (or mortgage) was recorded among the land records in the jurisdiction where your property is located.

Now that you have paid it off, some document must be recorded among those same land records reflecting that the loan has been paid in full. Some places this is called a “release,” while others call it a “satisfaction.”

via inman.com

Obama Considering HARP for Non-Agency Borrowers | Bedford Corners Real Estate

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President Obama is considering announcing a major expansion of the HARP 2.1 refinancing program in his upcoming State of the Union speech that would make it possible for underwater borrowers whose loans are not held by Fannie Mae or Freddie Mac to refinance at today’s low rates.

The Washington Post, citing Treasury Department sources reported this morning that the President is weighing whether to use his executive powers to expand the program to include non-agency loans in the successful refinancing program. Congress refused to approve such an expansion of the program last year.

HARP has helped about 1.8 million homeowners refinance since April 2009. Some 81,600 borrowers used the HARP program to refinance last month alone, according to HUD. Some 11 million homeowners have been unable to refinance under HARP.

The HARP program, which has been modified a number of times since its launch four years ago, is limited by that fact that borrowers’ loans must be held by one of the government sponsored enterprises, Fannie Mae or Freddie Mac. As a result, it has not been able to help millions of homeowners.

“Even with the expanded HARP 2.0 guidelines, we are still finding that 4 out of 10 borrowers we speak with are unable to qualify for a refinance due to participating lender restrictions,” said Brian Maier, a Las Vegas, NV mortgage broker last July.

The plan, if adopted, would likely be aimed at homeowners who have otherwise kept up with their mortgage payments but have been unable to refinance because the loan against their home exceeds its depressed value. Many Republicans in Congress have balked at the idea amid concerns over the cost to taxpayer, according to the Post.

In his State of the Union Speech last year the President proposed an expansion of the HARP program that would provide access to refinancing for all non-GSE borrowers who are current on their payments and meet a set of simple criteria. However, the plan required action by Congress, which failed to materialize.

via realestateeconomywatch.com

 

Referral site for global listings grows in the US | Bedford Corners NY Homes

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A Los Angeles-based referral site with more than 200,000 overseas property listings is expanding into the U.S., with exclusive partners in seven states so far.

The International Multiple Listing Service (IMLS) calls itself a “commission share platform” that offers all agents and brokers a free, unbranded search widget for their websites.

The IMLS tracks when a search through the widget leads to a sale, and takes a referral fee from the listing broker. IMLS then shares the referral fee with the agent who placed the widget on his or her website.

“Everything is tracked, and no work is required by the agent with The IMLS search to earn a share of the commissions,” said Daniel Nussbaum, founder and CEO of The International Realty Inc., which created IMLS. “You cannot drive a client to Italy or write the agreement. The Italian agent cannot drive to your area and write an agreement.”


Screen shot of IMLS search widget on Real Living Five Corners website.

Agents and brokers can prevent listings in their own market from appearing in the widget’s search results in order to complement agents’ own Internet Data Exchange (IDX) property search, he said.

via inman.com

Guide to Monitoring Your Online Reputation | Bedford Corners NY Realtor

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The good folks at Trackur have put together this infographic on how to monitor your personal or your brand’s reputation online. The steps they specify:

  1. Identify your reputations – monitor names brand names, company names, product names and variations.
  2. Quantify your audience – who has a stake in your online reputation?
  3. Understand your goals – how are you going to measure the whether your reputation is improving?
  4. Specify your needs – what tools do you require and what sources do you need to monitor?
  5. How will you monitor? – what processes are in place to be alerted and respond to issues?
  6. Who will monitor the conversations? – who are you entrusting with managing and responding to online reputation issues?

Ultimate Guide to Monitoring Your Reputation Online

via socialmediatoday.com

6 Snowiest Cities in America | Bedford Corners Real Estate

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Is Your City the Snowiest?

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Statistically speaking, which locations really are America’s snowiest cities? Just to set your frame of reference, the table to the right shows the average annual snow totals for some major cities that may come to mind first.

 Average Yearly Snow
Syracuse128″
Cleveland68.3″
Denver52.8″
Boston45.1″
Chicago37.7″
New York City26.7″

(MORE: 5 incredible snowfall extremes)

We examined 30-year average annual snowfall data from NOAA’s National Climatic Data Center to come up with a list of America’s Six Snowiest Cities.

We limited the list to cities with populations of at least 1,000 as of the latest census data. Unincorporated towns, mountains, national parks and ranger stations were not included.

Keep the big city snow totals to the right in mind as we kick off with number six.

via weather.com