Real Estate Learning Center

The Real Estate learning center is a series of videos providing everything you need to know about the residential real estate process.  Casandra Properties is pleased to provide this educational material to guide you through the process of buying or selling real estate in Staten Island NY.

Found 53 blog entries about Real Estate Learning Center.

New York CityJames Thompson is a partner at Scamardella, Gervasi, Thomson & Kasegrande P.C and has shared his knowledge of the new Transfer Tax laws with us below.

 

In April 2019, New York State passed a budget that included substantial changes to the real estate transfer tax laws. A summary is below for your reference. The changes apply only to cities within New York State having a population of one million or more. Accordingly, practically speaking, these changes apply only to transfers of real property in New York City.

Generally, the new rates apply to any transaction closing on or after July 1, 2019. However, it is important to note that there is an exception for any transfers made pursuant to a Contract entered into on or before April 1, 2019 and

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FSBOTaking on an FSBO can be an arduous task. Here are some tips to get you through this process. First, get your home ready for sale, check out these basic tips on how to get your abode ready to grace the market. 

 

Spruce it up! When gearing up to put your place on the market, it is important that you spruce the place up a bit. Touch up your landscaping, clean up the exterior of your home, make repairs, and clean out/organize your closets. These few improvements will enhance your home’s curb appeal and boost potential buyer’s first impressions of your home. Messy closets give off the impression that there isn't enough storage in your home. Even if that is the case, you don’t want to give off that impression! Clean fresh exterior and landscaping make

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White BoardReal estate acronyms or abbreviations can be confusing. They are used to save time and money in advertising ads. Without abbreviations, real estate ads would be costly and lengthy.

Most real estate agents use this lingo, so once you get the hang of them, you will be able to read and understand real estate listings!

4B/2B: Four bedrooms and two bathrooms. A "full bathroom" is a room with a toilet, a sink and a bathtub. A "three-quarter bathroom" has a toilet, a sink and a shower. A "half bathroom" or powder room has only a toilet and a sink.

CMA: Comparative market analysis or competitive market analysis. A CMA is a report that shows prices of homes comparable to a subject home and that were recently sold, are currently on the market or were on

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Home StagingSelling your home is definitely not an easy process...STAGED HOMES SELL FASTER! Agents say that 70% of buyers prefer a staged home over an empty one because staging a home makes it easier for buyers to visualize the property as there’re future home, and 40% of buyers are more willing to walk through a staged home they first saw online!

 

How much does home staging cost? Probably less then you think! As a general rule of thumb, most staggers charge $300.00 to $600.00 for an initial design consultation that’s a small price to pay for the maximum sale of your property! Staging is also something you can do on your own using key pieces you already own, remember keep it simple and clean and get rid of the clutter. Eliminate half of your belongings as

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Opportunity ZonesAs a real estate agent, I along with my team often get calls about investors looking for 1031 investments. When selling a property owned for a long period of time especially in New York City where prices historically have skyrocketed over the years, the owners are often exposed to capital gains. So, their options were always primarily to pay the taxes on the capital gains which can in some cases be as high as 35% +/-  or enter a 1031 like-kind exchange where you replace the sold property for a similar property.  

 

There is now a new program in New York State under the Federal Job Acts of 2017 that provides an alternative for investors facing capital gains. An opportunity zone is a low census tract with an individual poverty rate of 20% or more and

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Real Estate AgentThis process looks different in most states. However, the process has a similar structure wherever you go. In the state of New York, to qualify for licensure as a Real Estate Salesperson, a candidate must first register and complete a 75-hour salesperson course. A list of programs is provided by the state so you know where you can register. After you’ve completed the course, you must take and pass an exam administered by the Department of State. Once you’ve passed your test, before you can jump in the ring you need to find a sponsoring broker. Once you’ve done this, it’s time to get to business! Essentially, the process of becoming an agent is comprised of these steps:

 

  1.      Registering for a 75-hour real estate course 

Use this resource

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CameraWhen it comes to capturing real estate, there is a big shift away from amateur photos. To really capture the attention of the consumer, photographs have to be next level. Whether you’re an agent, seller, or have a different perspective of the market, there are a few key ways to photograph your real estate that will set it aside from competitors.

 

Professional Real Estate Photography:

Do some research in your area and find a photographer who specializes in photographing real estate or architecture. These photographers should have a thorough understanding of the camera angles and lens that will capture your real estate in its best light. A photo can make or break a consumer’s first impression of your property. That’s why the right angle and

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Curb AppealCurb appeal is an important part of every home. When listing your home for sale sprucing up the place is an important part of the process. This rejuvenation should start outside with your landscaping to boost first impressions of your home and increase interest. The better your home looks outside; the more people will want to tour the interior. First impressions are everything. Potential homebuyers judge your home at first site. Boosting your landscaping is a great way to impact first impressions by putting your best foot forward. Homebuyers are more likely to be willing to tour a home if the landscaping and general curb appeal wows them. Don’t be lackluster. A clean and fresh exterior makes it easier for a potential buyer to see themselves in your

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Baseball

Spring training not just for baseball it applies to real estate too! 

Baseball spring training and spring time home buying or selling have a lot in common.

It’s imperative to get your team or home and finances in shape for the new season.

In this blog I will focus on the buyers!

Tips for Competing in the Spring Home Buying Market

If you're like most people, and try to buy a home in April, you'll have to be ready to jump on the home you want. Don't be indecisive. Don't hesitate! When you find it, make an offer Here are other tips to help you to win that offer:

As I mentioned in my last blog; 

  •       Getting pre-approved by a local lender is key
  •       Focus on a home that meets your requirements, price, location etc.

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Mortgage RatesRising and falling mortgage rates have a direct impact on the consumer home buying market. 

 

Rising interest rates by the Fed impact consumer spending by encouraging saving. On the contrary, low interest rates encourage spending. Mortgage rates have a few more factors that impact rates. The general health of the economy a direct relationship with mortgage rates. When the economy is thriving with high wages and a steady job market, mortgage rates usually rise to sort of keep up. Rising mortgage rates in this instance serve a buffer to prevent the market from getting too hot. Rising mortgage rates in a growing economy maintains stability because it keeps consumers from borrowing too much. 

 

Mortgage rates reached an all-time high in the early

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