Two featured posts on Active Rain this morning discuss short sales, and whether you love them or hate them, they are going to be a common occurrence in most markets for the foreseeable future. Full disclosure: I have specialized in short sales for a number of years, sold dozens, and have double digits in my […]

According to Inman News, Minnesota-based Webdigs, Inc, a discount real estate broker, announced a loss of $2.7 million since it’s inception in the spring of 2007. Many businesses lose money in their first year or two, and I know nothing of Webdigs’ merits or demerits. What is significant to my mind, and what should matter […]

A rather interesting homophone arose in the comment thread of one of my recent postings that I thought merited some commentary. A “homophone,” by the way, is a case of two words that sound the same but have different spellings and meanings. For instance, “bore” (to make weary by being dull) and “boar” (wild pig) make a […]

I am not unfamiliar with foreclosures. I have bought and sold more than a few, and I do dozens of short sales a year. I don’t for a moment think that selling an REO is simple; yes, they are vacant, but as an investor myself I know that the property has to be managed and […]

J. Philip Faranda | J. Philip Real Estate LLC | 914-762-2500 224 Beach 92nd St, Rockaway Beach, NY Short Sale Bargain! 2004 Rockaway Beach 2-Family Home! 5BR/4BA Multi-Family, 2 units offered at $499,900 Year Built 2003 Sq Footage 2,500 Bedrooms 5 Bathrooms 4 full, 0 partial Floors 2 Parking Unspecified Lot Size 2,549 sqft HOA/Maint […]

J. Philip Faranda | J. Philip Real Estate LLC | 914-762-2500 50 Homer Rd, Brewster, NY Great Cape on a Quiet Road with High Potential! 3BR/2BA Single Family House offered at $269,900 Year Built 1956 Sq Footage 1,880 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 2 Parking 2 Car garage Lot Size 15,000 sqft […]

I blogged recently on the incredible overlap of government and services in New York and how that redundancy adds to the tax burden of New Yorkers. In yesterday’s Journal News, there was a special report on pensioners, that is, retired government employees who are allowed to legally “double dip” and get another government job. One […]

If I could work with first-time home buyers all day every day, I would. Given my other responsibilities, such as running a brokerage and servicing 45 or so listings, it is a rare pleasure. Today, I had that pleasure. I have a young couple who both work full time and are both in school part […]

I recall reading a letter from my father written in August of 1945 to his parents on the news that the Second World War was over. He said that the feeling among the men was not one of celebration or joy, but weary relief. My Dad was in the Signal Corps on Leyti Island in the Pacific […]

A local lender has informed me that the the minimum FICO score for an FHA mortgage is now 620. I remember vividly getting people approved in the 90’s with scores barely above 500. It didn’t happen routinely, but 580 did. I find this ironic: rates are fantastic and prices are down, but if someone gets caught in […]

Inman News has been running stories this month about the supposed controversy and big changes coming to how real estate professionals are paid. Here are some of the headlines: The industry debate over compensation 6 percent is dead A fee-for-service future End of the independent contractor ‘Offer of compensation’ must go Did I not get […]

Many who grew up in Ossining, NY like I did will remember an old, overgrown algae-covered man-made pond near the Chilmark Shopping Center known simply as The Reservoir. It was the Village’s water supply for much of the pre-World War II era, was then was replaced by water towers, and in subsequent decades became a derelict mess. […]

J. Philip Faranda | J. Philip Real Estate LLC | 914-762-2500 185 Broadway, Verplanck, NY Charming Brick 2-Family in Verplanck! 5BR/2BA Multi-Family, 2 units offered at $449,900 Year Built 1925 Sq Footage 1,800 Bedrooms 5 Bathrooms 2 full, 0 partial Floors 2 Parking 4+ Uncovered spaces Lot Size .23 acres HOA/Maint $0 per month DESCRIPTION […]

     

J. Philip Faranda | J. Philip Real Estate LLC | 914-762-2500 116 Washburns Ln, Stony Point, NY Charming Stony Point Colonial with 2-Car Garage 3BR/2BA Single Family House offered at $324,900 Year Built 1940 Sq Footage 1,178 Bedrooms 3 Bathrooms 2 full, 0 partial Floors Unspecified Parking Unspecified Lot Size 16,988 sqft HOA/Maint $0 per […]

Did you know we can all get rich because of the down market? Today I probably passed the thousand per week mark in email solicitations for websites I have never heard of, who will immediately Send me short sale leads Send me loan modification leads Get me REO business Send me fully qualified, “ready to buy now” buyers […]

Some buyers are reticent to work with one agent exclusively. They think it wise to use more than one agent, perhaps because they think it helps them shop around. Maybe they distrust agents. But that philosophy is tough to manage and it backfires.  We got a call from one such buyer who turned out to be […]

There continues to be a series of article at Inman News about the compensation of real estate agents. The latest article, entitled “6 Percent is Dead,” the owner of a web-based company chimes in with his view. A version of my response is below: I have not read every article in this series, but the […]

J. Philip Faranda | J. Philip Real Estate LLC | 914-762-2500 136 Foltim Way, Congers, NY Congers End Unit Townhome! 2BR/2.5BA Townhouse offered at $389,900 Year Built 1999 Sq Footage 1,600 Bedrooms 2 Bathrooms 2 full, 1 partial Floors 3 Parking None Lot Size Unspecified HOA/Maint $120 per month DESCRIPTION Move right in to this […]