Brooklyn Real Estate Q&A and Info

It’s a new year. Goodbye 2009, hello 2010.

No one would disagree that 2009 has been a tough year for many. It’s been a tough year in every aspect of the economy, the real estate industry being particularly hard hit, with increasing foreclosures, mortgages being hard to come by, and property values continuing to decline.

1. Will we see improvement in 2010?
2. Well, here are my predictions for the real estate industry in Brooklyn, New York in the year 2010:



3. Houses that are priced aggressively will sell in 2010.
4. Houses that are overprices will not sell in 2010.
5. First time home buyers will continue to make up a large portion of the type of buyers who will purchase real estate in 2010.
6. More houses will sell in the warmer months then in the cooler ones.
7. There will be foreclosures in 2010.
8. I will work harder, smarter and with a smile to help you buy or sell real estate in 2010.

Of course, no one can predict the future, but I feel confident that an economic turnaround is on the horizon. Will it occur in 2010? I don’t know. All any of us can do is work hard, make sound economic decisions, and keep our chins up.

Here’s to keeping our chin up in 2010!

Planning on doing some home improvement?  Here are a few tips that will help you choose the best contractor for the job.

1. Decide exactly what the project will entail- Deciding exactly what you want repaired, updated or upgraded in advance will help you avoid expensive “change orders”.   Create a comprehensive list of all the work you want your contractor to do.  Be very specific, and set a reasonable budget for the project.
2. Interview Multiple Contractors – Get written estimates from at least three contractors and insist on a timeline for the start and completion date of the entire project as well as major components.
3. Check Licenses - Home improvement contractors in New York City have to be licensed by law.
4. Be Sure To Get References & Check Them –  Ask you friends and relatives to recommend a contractor.  Call each of his references and ask them if they where satisfied with the work done.  Ask to see a sample of his or her work, and don’t forget to check the Better Business Bureau’s website for complaints. 
5. Do You Need A Permit? – Of course any licensed contractor should know whether or not permits are needed for your project, and which ones to be pull if necessary, but its important to educate yourself.  Nothing can bring a home improvement project to a screeching halt like failing to get required permits.    Check the New York State Department of State for the building code at www.dos.state.ny.us.
6. Get It In Writing – State law requires contractors to provide a written contract for home improvement work.  The contract should specify a time line for the work to be completed, a payment schedule, and the specifics of the job such as the types of materials to be used.  Make sure the contract is signed and keep a copy.
7. Never Pay Full Price Up Front – Create a payment schedule that corresponds with project timeline.  Withhold final payment until the job is completed to your satisfaction.

Follow these tips, and you will minimize any problems you might have with a contractor you hire to do home improvement work in your home.

The New York City Rent Guidelines Board last night, amid the usual controversy, approved rent hikes of 3% and 6% for one- and two-year lease renewals for rent-stabilized apartments where the landlord provides heat.  For apartments where heat is not provided, the increase will be 2.5% and 5% for one-year and two-year lease renewals.  The increase affects lease renewals that go into effect after October 1, 2009.

Considering the fact that there are many people unemployed or underemployed, a rent hike for those who can least afford it seems like a hard pill to swallow, however not all landlords are wealthy, and rising expenses makes the increase something that many multi-family property owners need to stay out of bankruptcy and/or foreclosure.

Its a tough situation all the way around for renters and owners a like.

One of my favorite expressions is “knowledge is power”, and there’s no better way to empower yourself then by learning how to make your Brooklyn home sell for more money. A great way to do that is by watching television.

Of course, watching CSI or Heroes won’t help you, but turning your television to HGTV will.  HGTV has fantastic programming that will help you learn how to sell your Brooklyn house, coop or condo more quickly and for money.

Television programs like HGTV’s Designed To Sell is a wonderfully educational and sometime entertaining program that shows you how for $2,000 or less you can increase the salability and even the selling price of your property by making a few smart upgrades and decoration changes.  HGTV also has a great program called The Stagers which gives you a glimpse inside the world of professional stagers along with tips and touch up ideas that can make your home more sellable.

The program The Unsellables on HGTV shows you how problems like clutter, uncleanliness, pet odors and general poor maintenance of your property can make your home more difficult to sell then is has to be.

There are several other programs on television today that can help you get ideas on how to make your Brooklyn New York home a little less personal and a lot more appealing to the most buyers, making it easier to sell.

So grab a snack, turn on your television and learn some of the easy and inexpensive things you can do to get your home to sell for more money.

Every year the Society For Clinton Hill sponsors a House Tour where you get the opportunity to go inside some of the fabulous historic homes that grace the neighborhood of Clinton Hill Brooklyn.   In 2009, the House Tour will take place on Sunday, May 3, 2009 from Noon to 5:00 pm come rain or shine.  Tickets purchased in advance are $20.00, on the day of the event they are $25.00.

It’s a self guided tour that allows you to get a glimpse inside of one of the Pratt Mansions on Clinton Avenue as well as some of the other spectacular properties in the Historic Section of Clinton Hill.  You’ll also get to tour a working brewery and enjoy a beer tasting and at lease one of the stops on the tour will feature a free concert.

To really enhance your experience, there’s audio tour on CD that you can purchase for $5.00.   Download the information from the CD onto your favorite MP3 player and listen to descriptions of Clinton Hill as you walk between tour stops. 

The tour is wonderful for all, from the history buff to anyone who just loves to look at beautiful houses.  For more information, go to the Society For Clinton Hill website.

Well, its that time of year again.  Its the start of “Day Light Savings Time” and on Sunday, March 8 at 2 AM you need to turn your clock ahead one hour.

Its also a good time to check the batteries in your smoke alarm and your carbon monoxide alarm.  Better safe then sorry.

Here is a little thank you from me to all of my loyal clients, blog readers, fellow Realtors(r), friends and family.

Thank you for all your support, encouragement and the simple joy of your company.

Whether you celebrated today or not, I do celebrate your presence in my life and the smile it puts upon my face.

Thanks Mr. Mayor.

So anyone else who has been anticipating getting their $400 property tax rebate check, it should be in a “mailbox near you” soon.