NEW HYDE PARK BEST REALTY

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Private Mortgage Insurance rates have been climbing and we have received announcements that the factors for Monthly PMI (the most common form of PMI) have gone up.

 
Why?  Much like any insurance company, they do not want to pay out and since they have been paying out more in the past couple of years do to foreclosures, they have raised rates.

What does this mean to you? Increased payments of course. here are a few examples for a 200,000 mortgage with 3%, 5%, 10% and 15% down:
3% down (not as common) was $138.33/month NOW $175.00/month
5% down WAS, $131.67 per month. It is NOW $156.67/month
10% down Was $86.67 per month. It is NOW $103.33/month
15% down Was $55.00 per month. It is NOW $63.33/month 
As you can see the difference is not as bad as you increase the down payment.  Historically 15% down loans never go bad so there is less risk, while the lower the down payment the higher the risk, thus higher premiums.

 
Now more than ever, FHA is more likely to be the way for you to buy a home when mortgage insurance is required (Even with the new changes in FHA MIP )

 
In the past I would advise that less than 10% down FHA would be the best way to go, now it is something to consider for any down payment lower than 20%.
 
A comparison needs to be done to be sure the right program is picked for YOU. Keep in mind that Conventional loans have interest rate add ons below a 720 credit score.... FHA does not have Interest Rate Add ons for loans at all. There are some lenders that will put their own add ons for loans they feel are risky, (sub 620 credit score is common for add ons).

FOR MORE INFO , PLEASE VISIT best realty ny

1% cash back to all our buyers

 
Now more than ever you need a Loan Officer that understands your needs and will review your scenario to pick the best option for YOU! Call me if I can be of assistance.

Fabio Fornaro
Mortgage Banker
516-353-5501

For the past week or two, clients and business partners have been asking me if they are still able to get a loan. These questions have been coming from clients who are in the market to buy homes and from realtors that are showing homes.
 
Every day, a new story seems to come out about how our financial system is on the brink of destruction and we are seeing bank after bank either closing down or being taken over.
 
Yes, these are frightening facts that do paint a very bleak picture but most, if not all of it, has to do with the easy credit lending standards that we had over the past few years. The truth of the matter is that those 100% No Income Check Loans are a thing of the past BUT right now, banks are willing to lend on loans that make sense. FHA, in  my opinion is the best mortgage to get these days and since FHA loans are insured by the government, lenders are willing to fund these loans with full faith and security.
 
YES,YOU CAN get a mortgage today, contrary to what you may hear. Mortgage rates are still at very low levels and my assumption is that they will only get lower.
 
The main problem we are having within the financial industry now is that Banks are not lending to banks and Corporate credit lines are being restricted or drying up all together. These are the problems that the bail out is dealing with. If businesses do not have credit lines they will not survive. American business runs on credit. Therefore, liquidity and faith in the banking system needs to be restored.

Last month Uncle Sam took over Fannie and Freddie and FHA is raising there loan limits. This was good news for the mortgage market since a major source of residential money is now secure. The FDIC has done a wonderful job of curing the failing banks and quickly shifting the nations deposits to stronger institutions with no more than a hic-up. The sky did not fall, and it probably will not fall.
 
Real Estate has always been a great long term investment. The economy has always had its ups and downs and Real Estate has always rebounded.
So, don't worry. There is money to lend, and at reasonable rates with very good terms.
 
If  you have any questions, please don't hesitate to visit best realty ny

don't forget to ask as about our real estate rebate ny

Fabio Fornaro
Mortgage Banker
Mid-Island Mortgage Corp. | 900 Merchants Concourse | Suite 112 | Westbury | NY | 11590
1888-411-fha0

1-888-411-3420

Many people believe that when the Federal Reserve lowers their Fed Funds Rate .5%, that the 30 year mortgage rate will be .5% lower as well.  For instance, before the fed came out and lowered the Fed Funds rate this week, a client of mine locked his rate on a 30 year mortgage at 6%. The news comes out about the Fed lowering their rate a .5% and he immediately calls me to see if we can cancel that lock request because he wants to get 5.5% instead.
 
The truth is that although the Fed lowering the Fed Funds rate always makes the headlines, everyone in the business should know that any direct correlation between overnight rates and 30-yr mortgage rates is very little (especially in the last two business days) Eventually, yes, they tend to move in the same direction, but not right now. Check out this chart of the Federal Funds vs. Prime Rate & Mortgage rates.
 
 
 
The Stock Market has been falling off a click but mortgage rates haven't gone lower..why?
As you may or may not know, when the stock market goes lower, mortgage rates usually get better. That's because as investors sell their stock, they usually put that money into a safe place and the safest place perceived by many investors is in the U.S. treasury market. As the demand for the U.S. treasuries goes up, the yield that the government has to pay on those bonds goes lower and since the yields on 10-year and 30-year Treasury securities are typically used to set long-term mortgage rates, we see mortgage rates go lower as well.

Well as you've probably noted, the stock market has been falling of a cliff lately and mortgage rates have actually gone up! In the past 5 days, the Dow has dropped from approx 10,500 to as low as 8000. This would lead you to believe that all of the money from selling stocks would be invested in Treasury securities and that the yield on the 10 year treasury would go lower. Instead, in the same 5 day period, the yield went from as low as 3.4% to 3.9% which is a HUGE jump in such a short period of time.
 
Unfortunately, it seems that the traditional flight to quality that we are used to seeing has disappeared and it appears that investors are parking money on the sidelines until the markets stabilize.

Fabio Fornaro
Mortgage Banker
516-353-5501

1% cash Back to all our buyers

Friday, October 10, 2008, Freddie Mac released a 35 minute webinar on an introduction to short sales to

the National Association of Realtors. It is designed to educate real estate professionals on the nature and

nuances of a successful short sale. It also tells you why short sales are becoming an increasingly

important tool for the lender's to use to minimize their losses on defaulted loans. Pay attention to their

request that realtors send sellers to HUD approved counseling BEFORE taking the short sale listing. And

they don't say it specifically, but they want any submission to the lender to include a qualified buyer's

offer. Without a buyer's offer, the entire package is placed on hold. YOU MUST ALLOW THE  WEBEX CLIENT COMMUNICATIONS IN ORDER TO VIEW THE VIDEO

for more information on shortsales

ALSO , THERE IS MORE INFORMATION IN REALTOR.ORG.

IF YOU ARE SERIOUS ABOUT REAL ESTATE YOU MUST SEE THE VIDEO.

ANY QUESTIONS, PLEASE DON'T HESITATE TO CONTACT NEW YORK'S BEST REAL ESTATE COMPANY

1% cash back to all our buyers!!!!!!

                                                       1% CASH BACK TO ALL OUR BUYERS!!!!

For more information , please visit our website at www.bestrealtyny.com

1% CASH BACK TO ALL OUR BUYERS!!!!

For more information , please visit our website at www.bestrealtyny.com

New Hyde Park is Located in Nassau County, New york , 25 minutes from New York City , population of 39,977, population density (people/mile) is 8,359 of which 19,258 are male and 20,719.

There are 13,361 households in New Hyde Park of which 4984 are household with children and 8,376 are with no children, alsdo there are 14,001 dwelling units in New Hyde Park. For more information go to best realty ny.

New hyde park real estate median home price is $530,000.00 , 58.96% have lived in their current home for more than 5 years, 7.73% annual residential turnover, 7.59% is the median years in new hyde park residence. 86.5 of all New hyde park homes are owner occupied, 8.9% are for renter and there is a 4.6% vacancy .For more information go to best realty ny.

New Hyde Park has 80.8% White collar worker and 19.2% blue collar working and the average household income for is $101,917.00For more information go to best realty ny.

DON'T FORGET, 1% CASH BACK TO OUR BUYERS, PLEASE VISIT WWW.BESTREALTYNY.COM/REMAX-REBATE.ASP

 NEW HYDE PARK AMENITIES

Shopping and Groceries

 Grocers (32) food Markets (40) Beer & Ale Stores (20) Department Stores (3) Pharmacies (35)

Public Services

 

• Police Departments (1)

  	category_id	sub_category_id	name	address	phone	latitude	longitude	category_name	sub_category_name	distance
  23957094	9200	9201	New Hyde Park Auxiliary Police	1420 Jericho Tpke	(51...	40.73336	-73.6809	Public Services	Police Departments	0.82 Mi

• Fire Departments (1)

  	category_id	sub_category_id	name	address	phone	latitude	longitude	category_name	sub_category_name	distance
  3057362	9200	9202	Garden City Park Fire Department	333 Marcus Ave	(51...	40.7505	-73.67288	Public Services	Fire Departments	0.56 Mi

• Public Libraries (2)

  	category_id	sub_category_id	name	address	phone	latitude	longitude	category_name	sub_category_name	distance
  27199270	9200	9205	Hillside Public Library	155 Lakeville Rd	(51...	40.73431	-73.68804	Public Services	Public Libraries	0.84 Mi
  4890517	9200	9205	Great Neck Library	10 Campbell St	(51...	40.74915	-73.69633	Public Services	Public Libraries	0.84 Mi

• Hospitals (2)

  	category_id	sub_category_id	name	address	phone	latitude	longitude	category_name	sub_category_name	distance
  27134980	9200	9206	Long Island Jewish Medical Center	Schneider Children's Hosptia Ave	(51...	40.7441	-73.6806	Public Services	Hospitals	0.08 Mi
  27134982	9200	9206	Long Island Jewish Medical Center	Long Island Jewish Hospital Ave	(51...	40.7441	-73.6806	Public Services	Hospitals	0.08 Mi

• Clinics (9)

  	category_id	sub_category_id	name	address	phone	latitude	longitude	category_name	sub_category_name	distance
  6704078	9200	9207	L I Women's Health Care	1575 Hillside Ave	(51...	40.74793	-73.68586	Public Services	Clinics	0.31 Mi
  12248906	9200	9207	Global Merchant Systems Inc	6 Tuxedo Ave		40.75028	-73.67191	Public Services	Clinics	0.59 Mi
  7651706	9200	9207	Integrated Health Care Solutions Group Inc	1546 Union Tpke		40.75475	-73.68781	Public Services	Clinics	0.75 Mi
  17667089	9200	9207	Norbury Kathleen	2 Ohio Dr	(51...	40.75652	-73.69022	Public Services	Clinics	0.92 Mi
  5789994	9200	9207	Atc Healthcare	1983 Marcus Ave	(51...	40.75667	-73.69065	Public Services	Clinics	0.94 Mi
  27218545	9200	9207	Healthcare Unique	800 Jericho Tpke	(51...	40.73202	-73.68707	Public Services	Clinics	0.96 Mi
  23718921	9200	9207	Professional Medical Adm	1999 Marcus Ave		40.75698	-73.69159	Public Services	Clinics	0.98 Mi
  24949705	9200	9207	Horizing Healthcare Staffing	2001 Marcus Ave	(51...	40.75702	-73.6917	Public Services	Clinics	0.99 Mi
  25222504	9200	9207	Horizon Health Care Staffing	2001 Marcus Ave	(51...	40.75702	-73.6917	Public Services	Clinics	0.99 Mi

• Savings & Loan Associations (9)

  	category_id	sub_category_id	name	address	phone	latitude	longitude	category_name	sub_category_name	distance
  27540903	9200	9209	Dime Savings Bank of Williamsburgh	253 15 Union Tpke	(71...	40.7442	-73.6806	Public Services	Savings & Loan Associations	0.07 Mi
  5783271	9200	9209	Dime Savings Bank of Wilhamsburgh	25315 Union Tpke	(71...	40.7441	-73.6806	Public Services	Savings & Loan Associations	0.08 Mi
  19241509	9200	9209	Flushing Savings Bank	1979 Marcus Ave	(51...	40.75651	-73.69016	Public Services	Savings & Loan Associations	0.91 Mi
  1885353	9200	9209	Maspeth Federal Savings	801 Jericho Tpke	(51...	40.73247	-73.68627	Public Services	Savings & Loan Associations	0.92 Mi
  5816620	9200	9209	Washington Mutual Bank	350 Hillside Ave	(51...	40.74055	-73.69778	Public Services	Savings & Loan Associations	0.93 Mi
  14088397	9200	9209	Greenpoint Bank	1981 Marcus Ave	(80...	40.75663	-73.69054	Public Services	Savings & Loan Associations	0.93 Mi
  23384179	9200	9209	Greenpoint Bank Nassau Offices	1981 Marcus Ave	(80...	40.75663	-73.69054	Public Services	Savings & Loan Associations	0.93 Mi
  11313790	9200	9209	Astoria Federal Savings	2000 Marcus Ave	(51...	40.75677	-73.69006	Public Services	Savings & Loan Associations	0.93 Mi
  8557585	9200	9209	Roslyn Savings Bank	1280 Union Tpke	(51...	40.7537	-73.69615	Public Services	Savings & Loan Associations	0.98 Mi

• State Commercial Banks (14)

  	category_id	sub_category_id	name	address	phone	latitude	longitude	category_name	sub_category_name	distance
  17667071	9200	9210	Moneymaker Atms		(51...	40.7441	-73.6806	Public Services	State Commercial Banks	0.08 Mi
  23071367	9200	9210	Eab Branches	1524 Union Turnpike At Lake Succe Ctr	(51...	40.7441	-73.6806	Public Services	State Commercial Banks	0.08 Mi
  17667070	9200	9210	North Fork Bank	2055 Hillside Ave	(51...	40.75156	-73.67414	Public Services	State Commercial Banks	0.56 Mi
  16427906	9200	9210	Flushing Savings Bank	661 Hillside Ave	(51...	40.74255	-73.69486	Public Services	State Commercial Banks	0.75 Mi
  7678838	9200	9210	Citibank	1524 Union Tpke	(51...	40.75425	-73.69115	Public Services	State Commercial Banks	0.82 Mi
  6727752	9200	9210	Roslyn Savings Bank	2335 New Hyde Park Rd	(51...	40.75603	-73.68827	Public Services	State Commercial Banks	0.84 Mi
  26259215	9200	9210	Roslyn Savings Bank	1114 Jericho Turnpike	(51...	40.73262	-73.68378	Public Services	State Commercial Banks	0.88 Mi
  20883259	9200	9210	State Bank of Long Island	699 Hillside Ave	(51...	40.75241	-73.66691	Public Services	State Commercial Banks	0.89 Mi
  11345299	9200	9210	Bank of New York	1636 Marcus Ave	(51...	40.75649	-73.68937	Public Services	State Commercial Banks	0.89 Mi
  21654080	9200	9210	North Fork Bank	1981 Marcus Ave	(71...	40.75663	-73.69054	Public Services	State Commercial Banks	0.93 Mi
  23387348	9200	9210	Greenpoint Bank	1981 Marcus Ave	(51...	40.75663	-73.69054	Public Services	State Commercial Banks	0.93 Mi
  24716642	9200	9210	Chase	2000 Marcus Ave	(91...	40.75677	-73.69006	Public Services	State Commercial Banks	0.93 Mi
  5812941	9200	9210	Commerce America Banking Center	2001 Marcus Ave	(51...	40.75663	-73.69054	Public Services	State Commercial Banks	0.93 Mi
  17667100	9200	9210	North Fork Bank	1999 Marcus Ave	(51...	40.75698	-73.69157	Public Services	State Commercial Banks	0.98 Mi

Places of Worship

• Churches (17)

  	category_id	sub_category_id	name	address	phone	latitude	longitude	category_name	sub_category_name	distance
  20022012	9400	9401	Seventh Day Adventist Church	85 L I Exprswy	(51...	40.7441	-73.6806	Places of Worship	Churches	0.08 Mi
  25885470	9400	9401	Notre Dame R C Church	Mayfair Rd	(51...	40.7441	-73.6806	Places of Worship	Churches	0.08 Mi
  1813685	9400	9401	New Hyde Park Baptist Church	635 New Hyde Park Rd	(51...	40.73795	-73.68179	Places of Worship	Churches	0.50 Mi
  1799788	9400	9401	Rapp Victor J	9 Durham Rd	(51...	40.75159	-73.68583	Places of Worship	Churches	0.51 Mi
  12249393	9400	9401	Gloria Dei Lutheran Church	600 New Hyde Park Rd	(51...	40.73788	-73.68138	Places of Worship	Churches	0.51 Mi
  12258967	9400	9401	Botkin Charles	220 Kamda Blvd	(51...	40.74136	-73.69077	Places of Worship	Churches	0.56 Mi
  11357080	9400	9401	Long Island Korean Catholic Church	302 Hillside Dr S	(51...	40.75162	-73.67038	Places of Worship	Churches	0.71 Mi
  5835004	9400	9401	Community Congregational Church	1045 Lakeville Rd		40.74554	-73.69592	Places of Worship	Churches	0.78 Mi
  12273028	9400	9401	Christ Lutheran Church	300 Hillside Dr S	(51...	40.74556	-73.69589	Places of Worship	Churches	0.78 Mi
  13167868	9400	9401	New Hope Community Church	2 Herkomer St		40.73336	-73.68125	Places of Worship	Churches	0.82 Mi
  1780969	9400	9401	Makaryus Antonios Father	566 N 6th St	(51...	40.73567	-73.69049	Places of Worship	Churches	0.82 Mi
  8572701	9400	9401	Elliott Phillip	5 Ingraham Ln	(51...	40.73311	-73.68353	Places of Worship	Churches	0.85 Mi
  7641291	9400	9401	Bethany Bible Church	14 Millers Ln	(51...	40.73283	-73.68257	Places of Worship	Churches	0.86 Mi
  14129965	9400	9401	Hillside Islamic Center	300 Hillside Ave	(51...	40.74038	-73.69804	Places of Worship	Churches	0.95 Mi
  1744337	9400	9401	Hillside United Methodist Church	2801 Hillside Ave	(51...	40.75251	-73.66515	Places of Worship	Churches	0.97 Mi
  11313477	9400	9401	First Presby Church of NW Hyd Pk	16 S 9th St	(51...	40.73163	-73.68596	Places of Worship	Churches	0.97 Mi
  27096372	9400	9401	Fellowship Ch	2801 Hillside Ave	(51...	40.7526	-73.6652	Places of Worship	Churches	0.97 Mi

• Synagogues (3)

  	category_id	sub_category_id	name	address	phone	latitude	longitude	category_name	sub_category_name	distance
  11336801	9400	9403	Young Israel of NW Hyd Pk	264 15 77th Ave	(71...	40.7441	-73.6806	Places of Worship	Synagogues	0.08 Mi
  8563159	9400	9403	Garden City Jewish Center	168 Nassau Blvd		40.7438	-73.66502	Places of Worship	Synagogues	0.84 Mi
  13158651	9400	9403	New Hyde Park Jewish Cntr	100 Lakeville Rd		40.73384	-73.68735	Places of Worship	Synagogues	0.85 Mi

Recreation and Leisure

 

• Public Golf Courses (1)

  	category_id	sub_category_id	name	address	phone	latitude	longitude	category_name	sub_category_name	distance
  5797135	9500	9501	Spring Rock Golf Center	377 Denton Ave	(51...	40.75125	-73.6734	Recreation and Leisure	Public Golf Courses	0.57 Mi

• Health Clubs & Gymnasiums (4)

  	category_id	sub_category_id	name	address	phone	latitude	longitude	category_name	sub_category_name	distance
  27314547	9500	9502	Xport Fitness	63 Bretton Rd	(51...	40.74652	-73.66982	Recreation and Leisure	Health Clubs & Gymnasiums	0.59 Mi
  7681454	9500	9502	la Fitness Sports Clubs	1111 Marcus Ave	(51...	40.75588	-73.68872	Recreation and Leisure	Health Clubs & Gymnasiums	0.84 Mi
  10410421	9500	9502	Personal Training Institute of New Hyde Park	1600 Marcus Ave	(51...	40.75646	-73.68931	Recreation and Leisure	Health Clubs & Gymnasiums	0.89 Mi
  3041272	9500	9502	la Weight Loss	909 Hillside Ave	(51...	40.75266	-73.6648	Recreation and Leisure	Health Clubs & Gymnasiums	0.99 Mi

• Food and Drink

 

• Cafes (8)

  	category_id	sub_category_id	name	address	phone	latitude	longitude	category_name	sub_category_name	distance
  9543481	9600	9601	Angoletto Cafe	1598 Hillside Ave	(51...	40.7479	-73.68533	Food and Drink	Cafes	0.28 Mi
  5801415	9600	9601	Starbucks Coffee	1596 Union Tpke	(71...	40.75456	-73.68865	Food and Drink	Cafes	0.76 Mi
  7653070	9600	9601	Port Cafe	2132 Jericho Tpke	(51...	40.73776	-73.66954	Food and Drink	Cafes	0.79 Mi
  9480430	9600	9601	Starbucks Coffee	1441 Jericho Tpke	(51...	40.73366	-73.68083	Food and Drink	Cafes	0.80 Mi
  12234540	9600	9601	Hyde Pk Coffee Shop	1620 Marcus Ave	(51...	40.75648	-73.68934	Food and Drink	Cafes	0.89 Mi
  13179393	9600	9601	J & S II Cafe Inc	1983 Marcus Ave	(51...	40.75663	-73.69054	Food and Drink	Cafes	0.93 Mi
  27402106	9600	9601	Au Bon Pain	1981 Marcus Ave	(51...	40.75663	-73.69054	Food and Drink	Cafes	0.93 Mi
  9475993	9600	9601	Garden Cafe	2001 Marcus Ave	(51...	40.75702	-73.6917	Food and Drink	Cafes	0.99 Mi

• Bars (5)

  	category_id	sub_category_id	name	address	phone	latitude	longitude	category_name	sub_category_name	distance
  10415678	9600	9602	Mickey Finns	1574 Hillside Ave	(51...	40.74781	-73.68572	Food and Drink	Bars	0.30 Mi
  10439976	9600	9602	Darlings Cocktail Lounge	721 Hillside Ave	(51...	40.74287	-73.69432	Food and Drink	Bars	0.71 Mi
  22824982	9600	9602	Dublin	2002 Jericho Tpke	(51...	40.73556	-73.67405	Food and Drink	Bars	0.76 Mi
  1903970	9600	9602	McMahons Pub	1217 Jericho Tpke	(51...	40.73307	-73.68357	Food and Drink	Bars	0.85 Mi
  11328826	9600	9602	la Bamba Sports Bar	2212 Jericho Tpke	(51...	40.73906	-73.66685	Food and Drink	Bars	0.86 Mi

• Restaurants (30)

  	category_id	sub_category_id	name	address	phone	latitude	longitude	category_name	sub_category_name	distance
  27149821	9600	9603	Skyline Diner	1528 Common St	(71...	40.7441	-73.6806	Food and Drink	Restaurants	0.08 Mi
  10455032	9600	9603	Lees Teriyaki	Sangertown Mall	(31...	40.74301	-73.68101	Food and Drink	Restaurants	0.15 Mi
  27486335	9600	9603	Applebees Neighborhood Grill & Bar	43 William St	(51...	40.74371	-73.68507	Food and Drink	Restaurants	0.23 Mi
  21605920	9600	9603	Afghan Grill	1629 Hillside Ave	(51...	40.74843	-73.68488	Food and Drink	Restaurants	0.30 Mi
  7642052	9600	9603	Fianona Restaurant	1635 Hillside Ave	(51...	40.74893	-73.68433	Food and Drink	Restaurants	0.31 Mi
  3959751	9600	9603	Afghan Grill	1629 Hillside Ave	(51...	40.74882	-73.68449	Food and Drink	Restaurants	0.31 Mi
  3017798	9600	9603	Eddies Pizza	2048 Hillside Ave	(51...	40.75129	-73.67472	Food and Drink	Restaurants	0.53 Mi
  1901755	9600	9603	Lavera Pizza	2085 Hillside Ave	(51...	40.7516	-73.67371	Food and Drink	Restaurants	0.57 Mi
  8586389	9600	9603	Mr Sushi Inc	377 Denton Ave	(51...	40.75125	-73.6734	Food and Drink	Restaurants	0.57 Mi
  11333082	9600	9603	Boston Market	2091 Hillside Ave		40.75161	-73.67361	Food and Drink	Restaurants	0.59 Mi
  11322634	9600	9603	Harbor Seafood	969 Lakeville Rd	(51...	40.73999	-73.69148	Food and Drink	Restaurants	0.65 Mi
  6739866	9600	9603	King Wok Chinese Kitchen	771 Hillside Ave		40.74311	-73.69392	Food and Drink	Restaurants	0.69 Mi
  8585990	9600	9603	Omega Diner Restaurant	1809 Lakeville Rd	(51...	40.74419	-73.69481	Food and Drink	Restaurants	0.72 Mi
  3068486	9600	9603	Applebees Neighborhood Grill & Bar	1985 Jericho Tpke	(51...	40.73537	-73.67508	Food and Drink	Restaurants	0.75 Mi
  1860682	9600	9603	Barringtons Restaurant and Bar	1902 Jericho Tpke	(51...	40.73476	-73.67564	Food and Drink	Restaurants	0.78 Mi
  7663138	9600	9603	Kisso Japanese Restaurant	1532 Union Tpke		40.75428	-73.69088	Food and Drink	Restaurants	0.81 Mi
  3970385	9600	9603	Fratelli Lavarone	1536 Union Tpke		40.7543	-73.69074	Food and Drink	Restaurants	0.81 Mi
  3950241	9600	9603	O Continental Bar & Restaurant	2224 Jericho Tpke	(51...	40.7391	-73.66676	Food and Drink	Restaurants	0.86 Mi
  16330235	9600	9603	Dom Jose Restaurant	2224 Jericho Tpke	(51...	40.7391	-73.66676	Food and Drink	Restaurants	0.86 Mi
  1863801	9600	9603	Baja Fresh Mexican Grill	1468 Union Tpke	(51...	40.75396	-73.69308	Food and Drink	Restaurants	0.87 Mi
  15279623	9600	9603	Ginos Pizzeria & Restaurant	1113 Jericho Tpke		40.73272	-73.68471	Food and Drink	Restaurants	0.88 Mi
  3019208	9600	9603	Gigis Pizzeria	673 Hillside Ave		40.7524	-73.66705	Food and Drink	Restaurants	0.88 Mi
  3966068	9600	9603	Win Hou Chinese Restaurant	1612 Marcus Ave		40.75647	-73.68932	Food and Drink	Restaurants	0.89 Mi
  1912365	9600	9603	Papa Ciros Pizza & Pasta	1624 Marcus Ave	(51...	40.75648	-73.68935	Food and Drink	Restaurants	0.89 Mi
  9490455	9600	9603	Domino's Pizza	1017 Jericho Tpke	(51...	40.73267	-73.68534	Food and Drink	Restaurants	0.89 Mi
  13199236	9600	9603	Ninas Pizza Pasta	725 Hillside Ave	(51...	40.75247	-73.66644	Food and Drink	Restaurants	0.91 Mi
  17674792	9600	9603	New York Ravioli & Pasta Co	12 Denton Ave S	(51...	40.73394	-73.67099	Food and Drink	Restaurants	0.94 Mi
  27316194	9600	9603	Win Hou Chinese Restaurant	8 S 8th St	(51...	40.73151	-73.68697	Food and Drink	Restaurants	1.00 Mi
  12234899	9600	9603	Pizza Hut	200 Hillside Ave		40.73986	-73.69881	Food and Drink	Restaurants	1.00 Mi
  21820932	9600	9603	Maderian Restaurant	2311 Jericho Tpke	(51...	40.74121	-73.66277	Food and Drink	Restaurants	1.00 Mi

Everbody know that there is no appreciation in real estate at the moment, there is only depreciation.

Every state is different how much real estate prices have droped in the past year o year and half.

In New York , Long Island , where we are from, there are places that have drop 20% or more , as well where there has being basically no appreciation in some areas.

On Every market wether the market is going up or down , we can make money as real estate professional , we need to be pro-active, we need to work harder, we need to work smarter in order to adapt and to succeed in our real estate market today.

what is HOT today in real estate?

1. REO, (BANK OWNED PROPERTIES)
2. SHORTSALE

If you have a brand Mercedes SL500 and you want to sell it at full market value , you will never sell in today's economic crisis.BUT, if you put it for sale at a good discount price you will sell it in less than week.

We at RE/MAX IMPERIAL are an REO broker for the Long island, queens, brooklyn area. We are having right now an easier time to sell our REO properties right now than a year ago , and the reason being is because the lenders  know that in order from them to get rid of their bad debt in their books, they need put it at right price to sell faster, because they need to free up their cash in order from them to stay in business.

If you any questions regarding reo in the new york , queens, long island reo , please don't hesitate visit us at www.bestrealtyny.com 

SO , if you are real estate that doesn't have any reo, don't worry , what you need to do is to find out who is your local area expert, meet with him , and let him know that you would like to try to sell his properties, even tough all of the properties are in MLS , the reo broker will remember you because you are doing something different, YOU ARE MEETING WITH HIM FACE TO FACE and not via fax, or email .
and who know,s he might be able to give you the heads up on futures REO's that will be available in future before anyone else .

2.SHORTSALES

For the judicial states where foreclosures take place, shortsale is the best way to save money to the bank as well to the real estate professionals (Realtor).

On the bank or lenders point of view they don't have to wait one year or more just to able to get to the  auction date where 90% of the time that you go an real estate auction in Nassau, Queens or Brooklyn the bank has to take the property back because the LTV (loan to value) is so high that no real estate investor will buy it.( foreclosure attorney)

After that bank gets the property back at the auction , they have to do an eviction procedure(more attorneys) , and this could take 6 month or more!!!

and we are not done yet!!!!!!

the bank after they do the eviction, they have to do the clean up!!!!

And finally is ready to sell with the expertise of an  REO BROKER!!!

NOW, IS TIME TO DO THE MATH

EXAMPLE:   
INTEREST RATE:                                                                               7.5%

ORIGINAL MORTGAGE AMOUNT :                                                      $400,000.00
2 YEARS FOR THE BANK TO GET THE PROPERTY BACK                         $  67,200.00
Foreclosure Atty                                                                             $    8,000.00
Eviction  + Clean up to be ready to sell(nyc)8 months mortgage pmt   $  22,400.00
Eviction Atty + Clean up cost                                                            $  6,400.00
3 year of real estate taxes                                                              $  18,000.00
3 year of Force Home Owner Insurance                                              $ 12,,000.00

TOTAL COST for the before it goes an Experience REO BROKER             $134,000.00

400,000.00- 134,000.00                                          $266,000.00

ASSUMING THAT THE BANK SELLS IT AT $400,000.00 , BUT We know that is not true.

WE ARE NOT DONE YET!!!!!!!!!!

now let's talk about Depreciation : 0.5 % per month  
 36 months (assuming that the original value was 400k)              $  64,365.00

$266,000.00 -64,365.00 =   $201,635.00

49% LOST TO THE BANK.

OR  TO DO A SHORT SALE

U BE THE JUDGE!!!!!!

if you have any questions, please don't hesitate to visit us,

New york best real estate company