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MINT CONDITION!

This duplex one family home is in pristine condition! Beautiful living room with gas replace, open om/kitchen with -space and cabinets. nd two new nished basement. oors and Andersen out. Garage and deck. Be in for the nt One bedroom ,500 Walk in two h block. Totally asonal parking bedroom with w&d parking $2,350 tudio for one

Lord, hold our troops in your loving hands. Protect them as they perform for us in our time of need. Amen. No documents or exclusive agreements are required for homebuyers to receive services

WHAT CAN I AFFORD?

By Robin Shapiro

Summer Effects

to a lower rate. My first mortgage was at 11.5%. Two years later, I refinanced it down to 9.5%, and I even did it once more after this.

The summer season has mixed effects on the Rockaway real estate market. On the one hand, we are a beachfront community and the draw of the summer activities does bring people here for: beaches, swimming, cycling, running, surfing, organized teams for kids and adults (although the pandemic may crimp some of these this year; thankfully the “end” is in sight). On the other hand, some sellers are reluctant to sell during the summer because they enjoy the aforementioned activities and don’t want to give them up so fast!

With 30-year fixed rate mortgages at around 7% (as of this writing), some people may be wondering what they can afford to pay. A 7% 30-year mortgage costs about $665/100k/ month. Therefore, a $600k mortgage loan would cost about $4000/ month. Real estate taxes, homeowners’ insurance, and flood insurance all add to the monthly “nut.” However, renting an apartment nowadays isn’t so cheap either, and you don’t build “equity” when you rent. You may really “need” the house but are concerned about the monthly cost. Keep in mind that there is some chance that you might be able to refinance the mortgage down the road

The challenge for many people is to have enough down payment money to make the purchase. How much down payment do you need? Are you a veteran and eligible for a VA loan? Are you a first-time home buyer? If a specific seller would accept such a buyer (some sellers would, and others wouldn’t – it’s the seller’s option), then a smaller down payment could work. However, most sellers like to see at least a 20% down payment. Call me. Love, Robin

It can be harder to sell real estate during the summer due to vacations by buyers and sellers alike. Summer activities can also occupy people instead of allowing them to focus on the home sale process.

The spring season has been generally good for our real estate market. There has been action across the board in all price categories with an emphasis on the range below $1 million (approx). Prices have firmed up within the framework of recent comparable sales and in some cases are creeping higher. Inventory levels remain very low. Call me, Love, Robin. 718-490-9463

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