How Your Neighbor’s Foreclosure Home is Affecting Your Homes Asking Price

How Your Neighbor’s Foreclosure Home is Affecting Your Homes Asking Price

Has your neighbor gone into a foreclosures NYC and it seems since then there have been fewer inquiries on your home? Have you been getting a few low-ball offers that seem to be extremely insulting? Even foreclosures NYC homes that are not directly in your block, but in the area can have a grave effect on your homes asking price.

Abandoned Properties

Unfortunately, the longer a property sits as abandoned, the lower the potential value to your home. Think about potential homeowners driving by seeing an abandoned home. The yard is unkempt, the windows are boarded, utilities are disconnected, and it may bring squatters into the neighborhood. The closer the foreclosures NYC homes are to your home for sale, the worse it may be. So in turn, if you have a close property, you may feel you need to lower your homes asking price to attract buyers. [Read more...]

Are All Foreclosure Homes Good Investments?

Are All Foreclosure Homes Good Investments?

If you are looking for a great investment opportunity, you can really get ahead with a foreclosure in NYC. There are risks associated with foreclosures in NYC; however, with a bit of due diligence, you should know which homes are a good investment, and which to stay away from.

Look At the Property First
Just checking out photos online of foreclosures NYC homes is not a good idea. The pictures and home price may seem outstanding, but when you take a walk outside the property and inside, there could be major issues that would cost the same amount as purchasing a normal home on the market. [Read more...]

Life after Foreclosure

Life after Foreclosure

 

If you have gone through a foreclosures process in NYC, like the thousands of other Americans since the 2008 housing crisis, it seems that you may be lost as to what your next step should be. You must look at new housing options for your family, a possible relocation means new schools, even a new job, and worst of all, getting your finances back on track. There seems to be no silver lining at all. But there is life after foreclosure in NYC, and here is where to begin.

 

Finding a New Residence

This is your first issue. It’s going to be difficult getting a new home at first because landlords do look at your credit score and your report. A NYC foreclosure can look bad and make you lose incredible points. Going into a foreclosure shows the landlord that you had problems managing your money and makes them feel insecure with giving you a chance at paying your rent on time with them. [Read more...]