Active Rain Dealing with Second Mortgages in a Short Sale New HAFA rules are forcing home sellers to negotiate directly with subordinate liens, or, in common terms, second mortgages, on their own, according to Bankrate.com. The way the rules are written, there is a financial incentive for the 2nd mortgage  to settle and release the lien, but the onus of getting assurances that the bank will settle […]
Active Rain With Apologies to George Carlin This is one of those half-written thoughts that I’ve had since 1996 when I entered the real estate industry, walked through the homes of other folks, and began to witness, first hand, how people live other than myself. Specifically, the, shall we say, storage of belongings. What they do with their stuff, and what stuff […]
Active Rain Wordless Wednesday: Not Such a Hot Idea
Active Rain Home Buyer Seminar for Westchester Coming April 7, 2010 J. Philip Real Estate will be participating a home buyer seminar for anyone interested in learning more about the process with no charge and no obligation on April 7, 2010 at a site to be announced shortly. We are flattered to have been asked to be the real estate broker presenting at the event. There will […]
Active Rain The Wall Street Journal Agrees with Me on Short Sales Amy Hoak’s timely article on HAFA and short sales in yesterday’s Journal concludes with timely advice that I wrote myself the very same day. The article focuses on the many pitfalls of short sales, as well as the new HAFA (Home Affordable Foreclosure Alternatives) regulations which are set to go into effect on April 5, 2010. Here is […]
Active Rain Meet Mr Big Mouth The gentleman pictured here is at the pre-close walkthrough of one of my listings which recently closed. He’s not the buyer. He isn’t the buyer’s agent. He’s the loan officer. I won’t name him here, but let’s call him Mr. Big Mouth.  Mr Big Mouth, so far as I can tell, is a competent loan […]
Active Rain What Makes a Short Sale Specialist? When I closed my first short sale in 1998 I had no idea that 10 years later I’d be doing them with any regularity. At that time, short sales were uncommon; they remained uncommon through 2006. Even in 2007, other agents needed to be educated about what a short sale was, how long it took […]
Active Rain First Listing is Up! My first listing on the NY State MLS site is live. It is a 2 bedroom co op in Hudson Heights, Manhattan. This is right up on the tip of the Island, north of the George Washington Bridge between Washington Heights and Inwood. I hope more brokers join this site so we can better publicize our listings […]
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Active Rain Westchester’s Guild Of Independent Real Estate Professionals For the past year, the Guild of Independent Real Estate Professionals has been doing great work with the independent brokers of Westchester County. The group’s core purpose is to give the independent companies of the county strength in numbers. There are member brokers from all over Westchester, and one common thread we all possess is […]
Active Rain Lenders: Their Own Worst Enemy It is obvious to anyone that until the housing market turns around-as in, more people buy homes-the economy will not recover from it’s current malaise. When I was primarily doing mortgages in 2002-2003, wholesale representatives from lenders would introduce products that basically had Helen Keller type underwriting. We called it the mirror test; if they […]
Active Rain Scarborough Glen Community, Briarcliff Manor NY Scarborough Glen is a townhome-style condominium community located in Briarcliff Manor, NY. It is right across route 9 (South Highland Avenue) from the Arcadian Shopping Center, but to walk around the complex you’d never get the idea you were so close to civilization. The reason for this is that unlike many newer developments where the […]
Active Rain Our Growing Team J. Philip Real Estate wishes to welcome the following new agents to our growing team of professionals: Briarcliff Manor Office: Cristina Gameiro Vivian Morales-Guerrero Ozichi Alimole Joseph Tucci Manhattan Office:  Sasha Gaertner-Zambrano Aricely Alcaide Cristina has just listed a great new home in Peekskill. Vivian closed her first transaction with the company today. Joe Tucci […]
Active Rain Attackers Never Say “Put ’em Up” Martha Brown has written a nice posting on a self defense class she took, and I have to say that, all things being equal, taking the course is better than not taking it. This is not a rebuttal, but something I wish to add, since real estate agents do get attacked, and, sadly, killed in […]
Active Rain Problems With an Agent? Contact Their Broker This is for both consumers and agents alike who have written about issues they have had with bad real estate agents. I have seen a lot of this lately, and the problems run from the annoying (won’t return calls) to the dumb (leaves a house unlocked) to the ridiculous (something illegal, like fraud, misrepresentation, or […]
Active Rain New Short Sale Program Will Pay Owners to Sell The NY Times is reporting on a new Obama initiative to create a financial incentive for banks and home sellers alike to do short sales. A few highlights from the article:   Program starts April 5, 2010 Lenders will be “compelled” to accept short sales. We’ll see about that. The administration wants to streamline the […]
Active Rain Ossining Co op Report Ossining is one of the few places in Northern Westchester County with many cooperative apartments. The Village of Ossining actually has hundreds of co ops, and given the prices of Westchester County homes, they are often viewed as the starter home for our area.  Active Listings: 46    Median List Price: $144,950 Pending Sale: 3 […]
Active Rain I Locked Myself Out of My Own Open House While at an open house today, I got the following instant message from my wife: Ann: While you are there take some better exterior photos. Today is sunny, and the old ones were taken on a cloudy day.  Smart idea. The last time I was here, I didn’t get anything from the rear of the home […]
Active Rain You Got an Offer. Now What? Unlike many parts of the country, home sellers in Westchester and the surrounding counties (all of Metropolitan New York, really) are actually a long way from signing contracts. When I sold in upstate Rochester, we’d go to contract the same day in some cases, with broker prepared templates written and approved by the local Bar […]
Active Rain The Eventual Career of Real Estate I had the privilege yesterday of attending a reunion of my former co-workers from the position I held prior to my career in real estate. It was the first time I had seen some people in 15 years. It was sales in a different industry and we were all managers. The work was difficult (what sales job […]
Active Rain A Day in the Life There is no typical day. Consider Friday:  2am: Finished blog post “J. Philip Real Estate is Growing.” 2:30-7am: Sleep 7am: School morning scramble-Luke, Catherine and Gregory on the school bus by 8am. 10am: Meet with client in Manhattan. Photos taken of new co op listing. 12 noon: Lunch in Queens, handle a call where an […]