Buyer-Side Dialogue

  It Is Your Money On The table!

The cost of home ownership is the price of the home and the sum of its recurring expenses (RE). Taking into account these RE are not always obvious, but critical. When creating a monthly budget, 8 expenditures go into this calculation impacting your cash flow. These RE are mortgage payments, possible mortgage insurance, homeowners insurance, property and school taxes, utility bills, remodeling, maintenance, miscellaneous as security system.

 

Property and school taxes should be clearly examined, because they are important components in RE.  Property and School taxes, I believe stand out as a significant RE. These taxes are important factors along with the purchase price.  Property and school taxes might play a critical role in determining your every-day cash flow.  For example, they might range from 9-15 thousand dollars a year among several homes that you have under consideration for purchase.  This differential is certainly not the same as the 1 thousand dollar differential in heating costs, if the insulation on one is not up to snuff.  Or the utility bills which may vary on personal usage and not rate differences. 


Home Buyers
Be on top of your game--- ask questions
Call Harvey--- 845-876-3502

 

 


Harvey Brown, Principal Broker

Committed to Providing the Best Experience
 in Real Estate!

Dirt Road Realty
Rhinebeck, New York, 12572
845-876-3502 or 212-228-6705
hbrown@dirtroadrealty.com

Posted by Harvey Brown on August 17th, 2017 3:49 PM



One of the Hidden Treasures your family will enjoy while taking a family detour from your new home search in the Rhinebeck Area. The
Trevor Zoo is located approx.30 minutes from downtown Rhinebeck.  

      The Trevor Zoo is open to the public from 9:00 a.m. to 5:00 p.m. every day of the year. 

This one of a kind Trevor Zoo brings you 180 exotic and indigenous animals, 80 different species, 9 endangered species which live in facilities that extend over 6 acres. It operates a veterinary clinic and is one of 232 zoos in the U.S. accredited by the AZA (Associations of Zoos and Aquariums).

It is a wonderful experience for children of all ages; putting a smile on your faces each time you visit. The Trevor Zoo is a hidden treasure while taking a family detour from your home search or engaging in a family outing after you found your dream home.

Trevor Zoo
Millbrook School
131 Millbrook School Road
Millbrook, NY 12545
Phone: 845-677-3704


Home Buyers

Be on top of your game--- ask questions
Call Harvey--- 845-876-3502

 

 


Harvey Brown, Principal Broker

Committed to Providing the Best Experience
 in Real Estate!

Dirt Road Realty
Rhinebeck, New York, 12572
845-876-3502 or 212-228-6705
hbrown@dirtroadrealty.com

Posted by Harvey Brown on August 14th, 2017 7:20 PM


 It Is Your Money On The table!

A pre-approved mortgage is not the same as a pre-qualified or pre-approved letter. The differences can affect your home buying transaction. It is more than semantics or a pop culture marketing tool.

A pre-approved mortgage ensures your financial information has been verified, and really puts real estate agents and home sellers at ease. At the same time, you're in control when making an offer to a seller. They'll know you're a serious buyer who's ready and able to make a deal. 

 

The differences can affect your home buying transaction.

Most first time home buyers want to look at homes...  they often shop for a mortgage loan only after they've fallen in love with a particular house

Your dream house may get sold to another buyer while you wait for mortgage loan approval.  

 

Home Buyers 
 Be on top of your game--- ask questions

 Call Harvey--- 845-876-3502




Harvey Brown, Principal Broker

Committed to Providing the Best Experience
 in Real Estate!

Dirt Road Realty
Rhinebeck, New York, 12572
845-876-3502 or 212-228-6705
hbrown@dirtroadrealty.com

Posted by Harvey Brown on August 11th, 2017 10:48 AM

                    It Is Your Money On The table!

Even if you don’t have or never plan to have school-age children, the quality of nearby schools can have an impact on how much you pay — and how much you sell a home for later.

A school’s high rating often drives up the prices of homes in that school’s district. Even if you don’t have kids, you’ll still pay more to be near a good school. Schools basically establish an area as a good location. And as any real estate agent will tell you; location matters.

The quality of a school district can determine whether a home holds its value even in a recession.

When the real estate crashed in 2007, there was a $100,000 difference in San Francisco home prices depending on the school district. With numbers like that, a school district may be the key trait in determining the value risk of purchasing a home.

In markets good and bad, home buyers should think about resale when seriously considering a home. Buyers, before moving forward on a home, should immediately think like a seller. Ask yourself the question: “If the housing market changes and I need to sell, how will my home fare?” The location, and in particular the school district, should be considered.

Sources:

https://www.zillow.com/blog/3-reasons-to-consider-school-districts-when-buying-a-home-136303/

http://www.bickerstaffparham.com/posts/how-does-a-school-district-affect-real-estate-value-for-home-buyers  

 

Home Buyers

 

Be on top of your game--- ask questions
Call Harvey--- 845-876-3502

 

 


Harvey Brown, Principal Broker

Committed to Providing the Best Experience
 in Real Estate!

Dirt Road Realty
Rhinebeck, New York, 12572
845-876-3502 or 212-228-6705
hbrown@dirtroadrealty.com

Posted by Harvey Brown on August 8th, 2017 8:13 PM

                    It Is Your Money On The table!

And does it matter? It does if you are the buyer!!!!

First, it makes your offer to the sellers more attractive if you have Pre-approval.
There are 2 offers, $515,000 Pre-approval offer and a $518,000 Pre-qualified offer, you might be surprised to learn which offer the seller might consider?

And second, the length time before the closing can be much shorter so you can be in your new home that much sooner. Yes, saving you the added cost of rent or storage. 

Two great benefits when you fall in love with your dream home.

---------

Pre-qualification*  An informal determination by the lender or mortgage broker stating the amount of the mortgage you can afford.

Pre-approval*  A guarantee in writing by the lender to grant you a loan up to a specified amount.

Home Buyers
Be on top of your game--- ask questions
Call Harvey--- 845-876-3502


 
Harvey Brown, Principal Broker

Committed to Providing the Best Experience
 in Real Estate!



Dirt Road Realty

Rhinebeck, New York, 12572
845-876-3502 or 212-228-6705
hbrown@dirtroadrealty.com


 

Posted by Harvey Brown on August 7th, 2017 4:32 PM

Dutchess County Fair --- August 23 - 28, 2016

For six days each August, the bucolic fairgrounds on Route 9 in Rhinebeck plays host to nearly half a million patrons. The second largest county fair in New York State is the showplace for agriculture in Dutchess County. Over 160 acres of finely manicured gardens and grass create the beautiful setting for thousands of farm animals, agricultural exhibits and horticultural displays.

   Free Fair App  
  
A great way to stay in touch with all things
  Dutchess County Fair!






                               Map of Fairgrounds

The fairgrounds becomes an entertainment destination where big name talent can be enjoyed, "thrill a minute" excitement can be experienced at one of the finest carnivals in the entire country, free shows and attractions can be viewed almost constantly from the time you arrive to the time you leave. The tradition of excellence that has been the Dutchess County Fair for over 160 years offers something for everyone and creates memorable moments that will be cherished for a lifetime.

Map & Directions
6550 Springbrook Ave
Rhinebeck NY 12572
845-876-4000

Home Buyers
Be on top of your game--- ask questions
Call Harvey--- 845-876-3502


 Harvey Brown, Principal Broker
Committed to Providing the Best Experience
 in Real Estate!




Dirt Road Realty

Rhinebeck, New York, 12572
845-876-3502 or 212-228-6705
hbrown@dirtroadrealty.com



Posted by Harvey Brown on August 1st, 2016 4:09 PM

Why you should have bought a home last year
Diana Olick
Thursday, 24 Mar 2016
CNBC.com

Anyone shopping for a home today has probably had at least one encounter with sticker shock.

No matter the neighborhood, home prices are generally rising, and bidding wars are often the rule rather than the exception. That means fewer neighborhoods are now considered affordable — a lot fewer. Read More---

Home Buyers 
Be on top of your game--- ask questions
C
all Harvey--- 845-876-3502  

 

Harvey Brown, Principal Broker

Committed to Providing the Best Experience
 in Real Estate!



Dirt Road Realty

Rhinebeck, New York, 12572
845-876-3502 or 212-228-6705
hbrown@dirtroadrealty.com

Posted by Harvey Brown on April 27th, 2016 12:02 PM
This Problem Is Shutting the Door on Many Would-Be Home Buyers
By STEVEN RUSSOLILLO
March 20, 2016 
WSJ  
Tighter inventory is helping drive home prices higher, making the housing market less appealing for buyers and potentially making it tougher for sales to keep growing at a rapid clip.
 
 The U.S. housing market has a supply issue.
 Between low interest rates, a steady job market and rising rents, economic fundamentals suggest lots of houses should be selling. Simultaneously, though, tight inventory levels are playing a role in driving prices higher, making the market less appealing for buyers and potentially making it tougher for sales to keep growing at a rapid clip.
 

Home Buyers
Be on top of your game--- ask questions
Call Harvey--- 845-876-3502


 
Harvey Brown, Principal Broker

Committed to Providing the Best Experience
 in Real Estate!




Dirt Road Realty

Rhinebeck, New York, 12572
845-876-3502 or 212-228-6705
hbrown@dirtroadrealty.com


   
Posted by Harvey Brown on March 23rd, 2016 5:18 PM

Your new neighbor in the 'burbs? A millennial. Yes, really
Diana Olick
Wednesday, 9 Mar 2016
CNBC.com

It was only a matter of time. Literally. As millennials grow older, get married, have children, they are seeking out bigger houses and better schools. That means the suburbs. They are also getting tired of paying higher urban rents and watching those rents rise.

Home prices have been rising more aggressively in the last six months. Bank of America just upped its forecast for prices this year, citing, "recent momentum, low interest rates and lean housing supply." Rents have also been rising, but they have steadied of late at near record highs.

The supply of homes for sale, especially in urban areas, is also a problem, and it is particularly critical at the low end, where millennials are likely to be buying. Homebuilders are not focused on first-time buyers and smaller homes because it is harder to make a profit in that segment.
Read More

Home Buyers
Be on top of your game--- ask questions
Call Harvey--- 845-876-3502


 
Harvey Brown, Principal Broker

Committed to Providing the Best Experience
 in Real Estate!



Dirt Road Realty

Rhinebeck, New York, 12572
845-876-3502 or 212-228-6705
hbrown@dirtroadrealty.com

Posted by Harvey Brown on March 17th, 2016 3:15 PM
When a Dream House Becomes a Money Pit
By JOHN SCHWARTZ 
FEB. 19, 2016
New York Times
Any buyer knows that a dream home can become a nightmare. But most people don’t expect it to happen to them.

The previous owner, Carol Royal, said that when she left the house, "everything was fine, as far as I was concerned." She said she has bought many homes in need of repair, and said, "first-time home buyers, they expect everything to be perfect. But it’s not."
The Hicks had paid for an inspection, but many of the problems were hidden behind the redone walls. Mr. Hicks said he wished that he had picked up on subtle signals the inspector may have been sending. "He was a little bit more apologetic than he should have been," he said. In the basement, the inspector noticed that the beams supporting the kitchen had been notched to run wiring and pipes, reducing the load-bearing capacity. "You are not supposed to do that," he told them, “but are you going to have 40 people in the kitchen?"
They had fallen in love with the house, and the broker’s account of how the previous owner had rescued it. "We got kind of fed this story about how this woman was a hero," Mr. Hicks said.
 They estimate the total cost of repairs and the expansion at about half the purchase price.
 Were the Hickses to offer advice to home buyers, Mr. Hicks said, "you should forge and manage your own relationship with your inspector,” and make clear you want to hear the bad news. In houses that have undergone extensive renovation, he urges that buyers ensure all the necessary permits were obtained. "I don’t know how I’ll ever buy a house again," Ms. Hicks said. "I can’t imagine trusting anyone."
Read More

Home Buyers
 
Be on top of your game--- ask questions
C
all Harvey--- 845-876-3502  

 

Harvey Brown, Principal Broker

Committed to Providing the Best Experience
 in Real Estate!



Dirt Road Realty

Rhinebeck, New York, 12572
845-876-3502 or 212-228-6705
hbrown@dirtroadrealty.com

Posted by Harvey Brown on February 26th, 2016 3:38 PM

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