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محتوای ارائه شده توسط Jeff Mistretta. تمام محتوای پادکست شامل قسمتها، گرافیکها و توضیحات پادکست مستقیماً توسط Jeff Mistretta یا شریک پلتفرم پادکست آنها آپلود و ارائه میشوند. اگر فکر میکنید شخصی بدون اجازه شما از اثر دارای حق نسخهبرداری شما استفاده میکند، میتوانید روندی که در اینجا شرح داده شده است را دنبال کنید.https://fa.player.fm/legal
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How Property Taxes Impact Your Home’s Purchase
Manage episode 156200187 series 1180011
محتوای ارائه شده توسط Jeff Mistretta. تمام محتوای پادکست شامل قسمتها، گرافیکها و توضیحات پادکست مستقیماً توسط Jeff Mistretta یا شریک پلتفرم پادکست آنها آپلود و ارائه میشوند. اگر فکر میکنید شخصی بدون اجازه شما از اثر دارای حق نسخهبرداری شما استفاده میکند، میتوانید روندی که در اینجا شرح داده شده است را دنبال کنید.https://fa.player.fm/legal
Want to sell your home? Get a FREE home value report.
Want to buy a home? Search all homes for sale.
Lots of people are always asking me, “How exactly do property taxes of a home I’m going to be purchasing affect me and my monthly payment?” Basically, your bank will collect 1/12 of the property taxes within your mortgage payment once you close on your new home. This can affect you in several ways.
First, they can determine how much the bank gives you for your mortgage. When the bank is approving you for a mortgage, they determine how much they’re willing to lend you per month, which has to include principal and interest (the actual mortgage payment), 1/12 of your taxes, and 1/12 of your homeowner’s insurance.
“
”
Property taxes determine your buying power and your mortgage rate.
”
Here on Long Island, where the taxes are typically above $6,000 and somewhere below $15,000, they also have a huge impact on your buying power. What do I mean by that? Let’s just assume that the bank approves you for a mortgage of $300,000, with taxes of $10,000 a year. That equates to a monthly number we won’t discuss here. However, if you were to find a home with a tax of $8,800 a year instead of $10,000, that would equate to $1,200 a month less, which would give you an additional $100 a month to spend on your mortgage payment. $100 a month on today’s interest rates is approximately $20,000 more you can spend on a home!
So, property taxes also determine your buying power. When you’re searching with your Realtor, make sure that you pay attention to the property taxes because that definitely affects how much you can spend on your home.
If you’re searching for a home or know someone who is, please contact me by phone or email.
6 قسمت
Manage episode 156200187 series 1180011
محتوای ارائه شده توسط Jeff Mistretta. تمام محتوای پادکست شامل قسمتها، گرافیکها و توضیحات پادکست مستقیماً توسط Jeff Mistretta یا شریک پلتفرم پادکست آنها آپلود و ارائه میشوند. اگر فکر میکنید شخصی بدون اجازه شما از اثر دارای حق نسخهبرداری شما استفاده میکند، میتوانید روندی که در اینجا شرح داده شده است را دنبال کنید.https://fa.player.fm/legal
Want to sell your home? Get a FREE home value report.
Want to buy a home? Search all homes for sale.
Lots of people are always asking me, “How exactly do property taxes of a home I’m going to be purchasing affect me and my monthly payment?” Basically, your bank will collect 1/12 of the property taxes within your mortgage payment once you close on your new home. This can affect you in several ways.
First, they can determine how much the bank gives you for your mortgage. When the bank is approving you for a mortgage, they determine how much they’re willing to lend you per month, which has to include principal and interest (the actual mortgage payment), 1/12 of your taxes, and 1/12 of your homeowner’s insurance.
“
”
Property taxes determine your buying power and your mortgage rate.
”
Here on Long Island, where the taxes are typically above $6,000 and somewhere below $15,000, they also have a huge impact on your buying power. What do I mean by that? Let’s just assume that the bank approves you for a mortgage of $300,000, with taxes of $10,000 a year. That equates to a monthly number we won’t discuss here. However, if you were to find a home with a tax of $8,800 a year instead of $10,000, that would equate to $1,200 a month less, which would give you an additional $100 a month to spend on your mortgage payment. $100 a month on today’s interest rates is approximately $20,000 more you can spend on a home!
So, property taxes also determine your buying power. When you’re searching with your Realtor, make sure that you pay attention to the property taxes because that definitely affects how much you can spend on your home.
If you’re searching for a home or know someone who is, please contact me by phone or email.
6 قسمت
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Long Island Real Estate Podcast with Jeff Mistretta

You don’t have to completely renovate your property; there are three simple things you can do that will make your home feel brand new. Want to sell your home? Get a FREE home value report. Want to buy a home? Search all homes for sale. Let’s be honest — a lot of the time, life gets in the way and our homes take the brunt of the abuse. Whether you’re selling your home or not, it may be time to upgrade your property. Here are a few ways to upgrade your home: 1. Get rid of the clutter. Everyone says that you need to declutter your home, but what exactly does that mean? I recommend getting three or four large plastic bins for things that you haven’t used in the last couple of years. If you plan on storing these items, make a list of everything in each box before you put the boxes in your garage or attic. That way, if you do need something before you move, you will know exactly which box it is in. You can also donate things you don’t need anymore. 2. Paint your home. Make sure you are cutting in and making those edges perfect. Consider taking a painting class ahead of time to learn better techniques and which colors complement each other. 3. Upgrade the hardware. Replacing the kitchen hardware, doorknobs, or bathroom fixtures is an easy way to upgrade your home. Whether you go with an antique brass look or a brushed bronze, whatever you choose will really clean up the look of the house. “ Changing the doorknobs or kitchen hardware is a great way to update your home. ” These are just a few ways to make your home stand out from the competition. Even if you’re not selling your home, you can enjoy these new changes and the updated look of your property. If you can’t do these jobs on your own and you need a recommendation, please let me know. I can put you in touch with a painter, electrician, or plumber who will do a wonderful job. Also, please don’t hesitate to reach out to me with any questions. I would be happy to help you!…
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Long Island Real Estate Podcast with Jeff Mistretta

Want to sell your home? Get a FREE home value report. Want to buy a home? Search all homes for sale. I’m asked quite often about short sales, so I’d like to discuss them with you today. A short sale is what happens when a homeowner or a seller owes more money on the home they are selling than what a buyer would potentially pay for it. If, for instance, a seller owes $400,000 on their home but is looking to sell it for around $300,000, they would be considered upside-down on the property. A short sale would take place when they notify a Realtor that they’re looking sell, the house hits the market, and the seller is fully aware that they will have to negotiate with their current mortgage company to allow them to move on from the property after they find a buyer willing to pay fair market value. “ A short sale happens when a seller owes more on their home than what it’s worth. ” This is a very brief summary of a short sale, so if you’re finding yourself interested in the idea of a short sale while you’re searching for a home, please give me a call or send me an email for a more in-depth explanation about what kinds of control you do and do not have as a purchaser. I hope to talk to you soon!…
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Long Island Real Estate Podcast with Jeff Mistretta

I wanted to talk today about what exactly a market analysis is. You may also hear it referred to as a CMA (current market analysis). It really consists of all the data from your neighborhood related to homes selling, failing to sell, or going under contract which affect the value of your home. Be warned, though; while this information is very useful, it should only be interpreted by professional Realtors who are very familiar with marketing, market analysis on home trends, and what's going on in your specific neighborhood. I personally don't like using the term "comp," which is short for comparable, for a home that's similar to yours that recently sold. Every homeowner is really specific with the upgrades they have made and the individual care they take of their home. It's really difficult to say that a home nearby is "just like yours." I try to avoid doing that. “ I always suggest that my clients have a plan B in case things don’t line up. ” The most important thing in understanding market trends and market value is to really zero in on the buyer behavior. Track what buyers are looking for in a particular area or neighborhood like layout, spacing, the yard, or the school district. That's why it's so important to hire a Realtor who understands what buyers are willing to spend for your home today. Feel free to contact me for a more in-depth look at your home and neighborhood if you're looking to sell.…
In the super-hot market we’re in right now, lots of people are calling me asking, “Hey Jeff, how do I sell my home and actually buy another home without being homeless?” That’s definitely a fair question. There are three ways to accomplish this: Purchase a new home first and take your time selling the old one. Since lots of folks either aren’t able to carry two mortgages or don’t want the stress of doing so, this is the least common way to accomplish that. Obtain a buyer on your current property to the point of contract and start aggressively searching for your next home. Go to contract on your next home so hopefully both contracts can be scheduled to close at the same time. With this option, I always suggest that my clients have a plan B just in case the two don’t line up. This may be renting an apartment or moving in with friends and family for a short period of time until both closings can happen. Just plan on selling your home and temporarily move in with friends/family. Marketing your home completely, selling it, and having it close takes between 45 to 90 days on Long Island. With this option, you can take your time in purchasing the dream home you’re looking for. If you’re looking for more details on any of these three options, just contact me by phone or email. I'd be happy to help you! “ I always suggest that my clients have a plan B in case things don’t line up. ”…
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Long Island Real Estate Podcast with Jeff Mistretta

Want to sell your home? Get a FREE home value report. Want to buy a home? Search all homes for sale. Is it too late in the summer to find a home and get into the school district that you want your children to be in? Maybe you've been searching for the perfect home and haven't been able to find it, or maybe the idea of moving just came to you. My first suggestion is to find a professional Realtor like myself who can explain the process and find the perfect house for you and your family. There are a few options. “ Contact the school district for the exact details about registration. ” The first is to move into a home that is vacant. However, to find the perfect home that's also vacant is maybe a 50-50 shot. Maybe you find one that is vacant, though, and you have an amazing lender who can close the loan in 30 to 45 days and have you in the home in time for the school year to start. I recommend starting by contacting the school district to find out everything that's necessary to register your children for that school. Most schools only require a contract to be signed to register your children at the school district of your choice. If you have more questions or you need the help of a professional to find a home in an area you want, contact me. Let's go get your perfect home!…
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Long Island Real Estate Podcast with Jeff Mistretta

Want to sell your home? Get a FREE home value report. Want to buy a home? Search all homes for sale. Lots of people are always asking me, “How exactly do property taxes of a home I’m going to be purchasing affect me and my monthly payment?” Basically, your bank will collect 1/12 of the property taxes within your mortgage payment once you close on your new home. This can affect you in several ways. First, they can determine how much the bank gives you for your mortgage. When the bank is approving you for a mortgage, they determine how much they’re willing to lend you per month, which has to include principal and interest (the actual mortgage payment), 1/12 of your taxes, and 1/12 of your homeowner’s insurance. “ Property taxes determine your buying power and your mortgage rate. ” Here on Long Island, where the taxes are typically above $6,000 and somewhere below $15,000, they also have a huge impact on your buying power. What do I mean by that? Let’s just assume that the bank approves you for a mortgage of $300,000, with taxes of $10,000 a year. That equates to a monthly number we won’t discuss here. However, if you were to find a home with a tax of $8,800 a year instead of $10,000, that would equate to $1,200 a month less, which would give you an additional $100 a month to spend on your mortgage payment. $100 a month on today’s interest rates is approximately $20,000 more you can spend on a home! So, property taxes also determine your buying power. When you’re searching with your Realtor, make sure that you pay attention to the property taxes because that definitely affects how much you can spend on your home. If you’re searching for a home or know someone who is, please contact me by phone or email.…
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