Special Section: Real Estate, Banking & Finance

Real Esate, Banking & Finance

a blank slate media / litmor publications special section • june 5, 2015

30 real estate, banking & finance • News Times Newspapers, Friday, June 5, 2015

Find the best bank for you

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ome people may not give much thought to where they do their banking, but much like no two account holders are the same, no two banks are the same, either. That reality only highlights the importance men

and women must place on finding a bank that best suits their particular needs.

In banking, what’s good for the goose is not necessarily good for the gander. Individuals hoping to find the best bank for their needs can consider a

host of factors before deciding just where it is they will be depositing their money in the years to come.

Accessibility: Accessibility is many individuals’ biggest priority when it comes to finding a bank. Large banks tend to have more local branches and ATMs, and such banks tend to be in more regions of the country as well.

Men and women who travel for business or even young people who go to school away from home may want to find a bank with a more national presence, as that can

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make it easier to deposit and withdraw money. If you don’t travel much and only seem to withdraw money within your community, then a smaller, local bank, which should be able to offer the same direct deposit services as its larger competitors, may be what you’re looking for.

Capability: Some people prefer to have all of their financial needs catered to by the same bank. This means a bank that can manage your investments, provide a line of credit and secure home, vehicle or education loans.

Larger banks tend to offer the widest array of services, and such banks also may have more advanced technology that makes it easier to manage all of your accounts.

Smaller banks may be just as versatile with regard to their capabilities, so don’t judge a book by its cover.

Balances: Banks typically require account holders maintain a minimum balance on both their checking and savings accounts. If you think it may be difficult for you to maintain a higher balance, find a bank that offers accounts with a low minimum balance so you don’t end up paying penalties just to spend your own money.

Fees: Even accounts that are advertised as “free” tend to come with fees that are listed in the fine print. For example, a “free” checking account may only be free if account holders maintain a minimum balance of $1,000 or more. Should that balance dip below the predetermined minimum, account holders are then subject to costly fees. Overdraft fees, in which account holders are charged a substantial fee if they do not have enough money in their accounts to cover their purchases, are another potentially costly problem for men and women who are not accustomed to monitoring their balances closely. Before opening an account, learn if there are any fees associated with it, and what’s the best way to avoid paying those fees, such as using only ATMs affiliated with your bank or purchasing overdraft protection that covers you in the case of an overdraft.

Choosing a bank is an important decision, and identifying your needs is a great way to make the best decision possible.

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News Times Newspapers, Friday, June 5, 2015 • real estate, banking & finance

Spring is here and for those of us thinking of selling a home; price is always the Big Question!

IF YOU ARE INTERESTED IN YOUR HOME’S MARKET VALUE; PLEASE CALL OR VISIT US. WE WOULD BE DELIGHTED TO HELP YOU…AND IT’S TOTALLY FREE! TED CCEP

R

OFFE

A

129 Emory Rd. Mineola 5 Bedrooms w 3 Full & 2 Half Baths

$739,000

Ben Oliva Broker Owner 516-642-6283

504 Nassau Blvd.

Williston Park New Construction 3 Bedrooms w 2 Full & 1 Half Bath

$795,000

5 Birchwood Ct. Apt 5K Mineola

100 Lincoln Ave. Apt 26B Mineola

$199K

$265K

Beautifully updated 1 Bedroom Coop

Patrick (PJ) Diskin Licensed Real Estate Salesperson 516-551-5478

Exquisitely Appointed 1 Bedroom Coop w Terrace

Mark Debrich Licensed Real Estate Salesperson 516-330-2280

FAMILY TREE REALTY

43 MINEOLA BLVD., MINEOLA, NY 11501

516-741-0800

www.FamilyTreeRealtyNY.com www.Rentals-Are-US.com www.CoopsAndCondos-Are-US.com

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32 real estate, banking & finance • News Times Newspapers, Friday, June 5, 2015 ADVERTORIAL

Susan Cherney, the quintessential Home Specialist, provides the best professional service which fortifies the cornerstone of her continued success. For more than 28 years, Susan has combined integrity, loyalty and trust into a singularly dynamic results-driven business. It is one of the premier reasons customers repeatedly recommend her to friends and family.

Her listing presentations outline customized multi-dimensional marketing strategies which demonstrate advertising opportunities using a variety of mediums including metropolitan and local newspapers, magazines, the internet as well as the use of effective targeted direct mail campaigns. All of Susan's efforts are directed at achieving the best possible results for her clients based on many tangible and intangible factors including the unpredictable trends in the real estate market. She adds as inventory changes, home sellers need the expertise of a true Home Specialist to help differentiate their home. That is what I bring to the table.

The name Susan Cherney is synonymous with quality service. The immense network of new home buyers, repeat sellers, referrals by family, friends, neighbors and acquaintances all say, "Susan is a very hands-on, kind and altruistic person. She is definitely someone we want to work for us." A familiar face in the neighborhood she serves, her customers benefit from the extensive knowledge of the local real estate market in her community and surrounding areas.

Susan does what she loves -- and loves what she does! Connected to her clients 24/7, "and 25/8 if the need arises" Susan adds jokingly, "I am a very lucky person to be fortunate enough to love what I do every day and to enjoy the energy and dynamics of real estate, knowing that I have truly made a difference in a person's, a couple's or a family's life."

While these innovative methods of selling homes are all extremely successful, Susan's exceptional service standards have helped her to earn the most coveted and prestigious international awards available.

Call Me Today For Your Free Home Market Analysis!

516-639-8100 scherney@laffey.com

Susan Cherney Licensed Associate Broker SRES, CBR Laffey Fine Homes Leading Real Estate Companies of The World 516-639-8100 CELL

News Times Newspapers, Friday, June 5, 2015 • real estate, banking & finance

Success Speaks For Itself…

29 Years Of Exceptional Results!

Chestnut, East Hills $1,345,000

Fabulous Majestic Colonial In Heart Of Prestigious Country Estates.

All Formal Rooms For Entertaining, Open & Airy Floor Plan, Formal Lr & Dr, Den/Built Ins, Huge Master Suite, 4 Additional Br's And 3 Baths On 2nd Floor All Overlooking Beautiful And Lush Parklike Property. East Hills Park.

Roslyn Sd. Won't Last! It's A Wow!

The Loch, Roslyn Estates $1,598,000

A Long Private Driveway Along The Pond Leads To This Most Charming And Diamond Condition Colonial Set On 1 Acre Of Breathtaking And Scenic Setting. Built In 1923, This Special Home Has Been Totally Renovated With Designer Kitchen And Baths, Beautiful Stone And Oak Flooring, Formal Living Room, Den And Library. Outdoor Patio On Pond For Glorious Nights.

Won't Last!

Sycamore Drive, East Hills $2,368,000

Harbor Hill Rd, East Hills, $1,118,000

The Maples, Roslyn Estates $2,295,000

The rare find! Spectacular colonial majestically set in the heart of prestigious Country Estates. Expanded 2008, this unique home offers 5 bedrooms, 4.5 baths, enormous sun drenched living room, dining room with soaring ceilings and walls of glass, library as well as a huge family room off the kitchen, finished basement and hard wood floors thru out. All this and more including a heated pool surrounded by amazing .79 parklike and professionally landscaped private property with country club setting.

Membership to East Hills Park!

Majestically Set Back & Approached By Graceful Circular Driveway. All Brick Diamond Condition 4 Bdrm, 3 Bth Home.

Open & Airy Floor Plan. Formal Lr & Dr, Wonderful Fam Rm W/Fplc, Huge Open Designer Eik W/Top Of The Line Cabinets & Appliances, Beautiful Hardwood Floors, Full Finished Bsmt, Heated Pool, Gorgeous Landscaping W/Built In Chef's Area!

East Hills Park

Perfectly Stunning Diamond Condition Colonial Magically Set In The Heart Of Roslyn Estates. Huge Expansive Flr, Banquet Size Dr, Fam Rm W/Built-Ins & Fpl, New Custom Kit W/Commercial Grade Appl, 5 Spacious Bedrms, 4.5 Bths, Basement Is Newly Finished. Home Offers A Whole House Generator. All Of This & More On Half Lush Acre With Bluestone Patio, Viking Bbq Pit. Won't Last!

Motts Cove Rd, Roslyn Harbor $898,000

Croyden Court, Albertson $899,00

Willow, Roslyn Heights $599,000

Lovely Ranch On Over 1 Acre Of Park-Like Property Siding Magical Preserve.

Living Room With Fireplace, Hardwood Floors Thruout, 17X34 Heated Vinyl Pool And Hot Tub. Wired For Generator.

Roslyn Schools.

Smartly Priced, Wow!!.

Totally Redone Mint Condition Colonial Perfectly Situated In The Heart Of Albertson Downs. Offering Open And Airy Floor Plan, All Formal Rooms For Entertaining, New Siding, Windows, Custom Kitchen And Baths, New Boiler, Electric, And Speakers Inside And Out. Fabulous Backyard With Pavers And Exquisite Landscaping.

Won't Last! Wheatley Schools

New To Market! Charm Galore Exudes In This 1918 Colonial Perfectly Situated In The Heart Of Roslyn Heights. Featuring: 3 Bedrooms And 2.5 Baths, This Home Offers All New Windows, New Roof, Hardwood Flooring Thruout, Fabulous Front Porch, 2 Car Garage With Huge Attic Above, Deck & So Much More!

Roslyn Sd.

Lighthouse Rd, Sands Point $10,900,000

Amazing 10,000 Sq. Ft. Custom Built Waterfront Colonial With Spectacular Direct Western Views Of Manhattan. Featuring 17 Rooms With 6 Bedrooms, Five Full + 3 Half Designer Baths.

Spectacular Guest Wing, Cabana And Heated Gunite Pool And Hot Tub, Separate Indoor Basketball Court. All Of This And More, Set On 2.25 Acres With Amazing Sands Point Sunsets.

Co-listed with Melissa Zargari.

The Serpentine, Roslyn Estates $2,495,000

Once In A Rare While Does This Opportunity Arise To Live In A Most Spectacular Home Perfectly Situated In The Heart Of Prestigious Roslyn Estates W/Exceptional Elegance. This Home Offers All Grand Size Rooms For Entertaining Including; A Formal Lr & Dr, Library, Music Room, Amazing Details & Millwork, Generator, Enormous Fam Rm Overlooking .73 Acres W/Patios & Pool Setting.

Starling Court, East Hills $2,645,000 Dramatic 7500 sq ft custom built Colonial built perfectly situated in heart of Nobhill in cul-de-sac location! Dramatic entry/bridal staircase, oversized living room with Fireplace, Banquet Dining Room, coffered ceilings, family room with Fireplace, huge chef’s kitchen, 6 bedrooms, 6.5 designer baths, fabulous finished basement, elevator, membership to East Hills Park

Call Me Today For Your Free Home Market Analysis!

516-639-8100 scherney@laffey.com

Susan Cherney Licensed Associate Broker SRES, CBR Laffey Fine Homes Leading Real Estate Companies of The World 516-639-8100 CELL

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34 real estate, banking & finance • News Times Newspapers, Friday, June 5, 2015

Seniors Can Obtain Money from Their Home With a Reverse Mortgage.

As many seniors know, living on a fixed income can be challenging. Fortunately, M&T’s Reverse Mortgage offers a way for senior homeowners to use the equity in their homes to supplement their income - without selling their homes or having to worry about making monthly payments. A reverse mortgage works just as the name suggests instead of the homeowner paying the bank, the bank pays the homeowner.

For many seniors, a reverse mortgage offers a practical way to put their hardearned home equity to work for them to help meet their financial goals in retirement.

With M&T’s Reverse Mortgage the bank makes payments to the homeowner, which can be received in a lump sum, regular monthly installments, or as a line of credit. The balance, plus interest, is paid back once the borrower’s home is no longer their primary residence.

Contrary to a common misconception, a reverse mortgage borrower keeps title and ownership of their home for as long as they continue to live in it. In fact, a reverse mortgage can be used to keep a home by providing income to pay property taxes – possibly avoiding a tax lien.

Further, a reverse mortgage is a non-recourse loan that borrowers need not repay until they no longer occupy their home as their primary residence.

Qualification is based on current interest rates, the value of the home, and the age of the homeowner. The homeowner must be at least 62 years of age and 14 family, owneroccupied homes and certain condominiums and townhouses are eligible.

For more information contact M&T Reverse Mortgage Specialist,

Marylu Byrnes at 516-391-7633 Disclosure: M&T Bank is an equal housing lender. This material was not developed by HUD or FHA nor approved by them. This is not a commitment to make a mortgage loan. The senior needs to continue to occupy the home as primary residence, in good repair, and taxes and insurance premiums up to date. Consult your tax advisor regarding the tax consequences of a reverse mortgage. ©2015 M&T Bank. NMLS #381076. Member FDIC. Marylu Byrnes NMLS # 98618.

News Times Newspapers, Friday, June 5, 2015 • real estate, banking & finance

35

36 real estate, banking & finance • News Times Newspapers, Friday, June 5, 2015 ADVERTORIAL

Allstate Insurance Company has been located at 21 East Shore Road since 1998. They provide automobile, homeowner, co-op, condo, renters, commercial auto and life insurance products to suit your specific situation.

Roger Chizever has been here since its inception and oversees all day to day operations. He is also a Certified Accident Prevention Instructor where he teaches you how to be a safer driver and by completing his course you also save 10% on your automobile liability and personal injury protection portion of your insurance policy. Cherilyn Clement has been here for over 10 years and is extremely efficient in providing outstanding customer service. Syed Mahmood has been the Agency Owner for 5 years and has been in the insurance business for over 20 years. Suzanne Nitzberg is a Certified Financial Planner and has been our financial specialist for over 4 years helping families with their life insurance and long term care needs.

The newest member of our team, Matthew Mahabadi, will help customize an insurance package based upon your individual needs. Together we provide an outstanding customer experience.

Call us today and become part of our family.

THE MANHASSET AGENCY 21 East Shore Rd. Manhasset, NY 11030 Roger Chizever, LSP 516-869-6000 Office Manager

News Times Newspapers, Friday, June 5, 2015 • real estate, banking & finance

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38 real estate, banking & finance • News Times Newspapers, Friday, June 5, 2015

Factors to consider before selling your home

Open House:

Sunday, June 7th, 12:30 – 2:00pm 2885 Minnehaha Blvd, Southold, NY

Market: The local real estate market is another factor to consider when deciding whether or not to sell your home. A home is a significant investment, and you want to earn as substantial a return on that investment as possible. Selling when the market is struggling will make your investment less valuable. Research recently sold homes in your neighborhood to get an idea of how much you can expect to get if you sold your home in the current market. It might be worth it to sell now, or it might pay off to be patient and wait until the market rebounds.

Southold, NY – Private Beach and Boating Community

Young colonial with wonderful Corey Creek views from the rocking chair front porch.

Living room, great room with fireplace, kitchen/dining room with sliders to deck and private yard. 1st floor laundry, CAC, 2-car garage. Private Laughing Water association beach and marina makes this the perfect place to live. SD #5. MLS# 2757961. $689,900.

Dougall Fraser, 631.734.5439, c.516.241.9528 Patricia Cosmadelis, 631.734.5439, c.631.433.1793

Cutchogue Office • 28080 Main Road, Cutchogue, NY Each office is independently owned and operated.We are pledged to provide equal opportunity for housing to any prospective customer or client, without regard to race, color, religion, sex, handicap, familial status or national origin.

SENIORS ARE OUR SPECIALTY For Over 30 Years We Have Been Satisfying Buyers and Sellers.

We Will Do The Same For You.

ATANAS REALTY

469 Willis Avenue, Williston Park

516-747-3701

We Are Lifetime Residents of the Community and Your Satisfaction Is Our Objective.

IN CONTRACT

Williston Park, NY - $599,000

• 3 bedrooms, 2 full baths • Living room and formal dining room • Eat-in kitchen with skylight and hardwood floor • Den/office with lots of windows

EVELYN ATANAS Licensed Broker/Owner

Williston Park, NY

S

elling a home is no small undertaking. It often pays to be patient when putting a property up for sale, but waiting for an acceptable offer can be stressful, especially for those homeowners who have already found their next homes.

Because so much tends to be riding on the decision of whether or not to sell a home, homeowners would be wise to consider the following factors before putting that “For Sale” sign in their front yards.

Motivation: Many homeowners sell their homes because their families are growing and they have outgrown their current residences. Others may recognize a seller’s real estate market and want to strike while the iron is hot, while still others might be moving for a new job. The factors that motivate homeowners to sell their homes vary with each individual case, but prospective sellers should keep in mind that moving can be expensive, and finding a new home may not be so easy, nor is the grass necessarily greener on the other side.

When deciding if now is the best time to sell your home, make sure you will be selling for the right reason. That can make the often trying process of selling a home a lot easier to handle.

Kids: Selling your home will impact your family just like it will impact your bottom line. Unless you plan to move down the street or to another home in your community, selling may mean you and your family no longer see your friends and neighbors. That can be a difficult adjustment, especially for school-aged kids who will have to adjust to a new school. The potentially negative impact that selling can have on your children may not be worth the financial benefits of selling, so the decision of whether or not to sell should not be taken lightly by homeowners who also happen to be parents.

Quality of life: It can be difficult to turn down an opportunity to make a lot of money on your real estate investment. But if you plan to sell and move further away from your office and your friends and family, the financial windfall you earn when selling your home may not be worth the sacrifices you have to make in order to earn that money. Studies have shown that longer commutes can elevate stress levels, and even the most affordable property may not be worth moving to if you won’t be able to enjoy the home with your friends and family.

When deciding whether or not to sell their homes, many homeowners make the decision a strictly financial one. But there is more than money to consider when deciding if now is the right time to sell your home.

News Times Newspapers, Friday, June 5, 2015 • real estate, banking & finance Michael C. Adges is a 1981 graduate of Stony Brook University (B.A.) and a 1984 graduate of the Benjamin N. Cardozo School of Law (J.D.)

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Michael C. Adges Attorney at Law

In 1989, he founded the Law Office of Michael C. Adges in Bayside, New York, specializing in real estate transactions. The office later re-located to Bellerose and Mineola and is now located in Williston Park, New York.

Mr. Adges has served in the capacities of both attorney and realtor on numerous real estate committees on the state and local levels. His experience as an investor - buying and selling properties in New York City and Long Island have given him an insider’s perspective on the real estate process.

Mr. Adges has had many speaking engagements - lecturing on such topics as bankruptcy, real estate transactions and ethics sponsored by the National Business Institute (NBI) and various banks and bar associations. He has also taught real estate transactions at CUNY School of Law in Queens.

Mr. Adges is a member of the Nassau County Bar Association, the New York Bar Association and Vice President of the Williston Area Chamber of Commerce. He is also a member of various networking groups.

Michael C. Adges Attorney at Law

516-742-1741

105 Hillside Ave., Suite D, Williston Park, NY 11596 www.adgesesq.com

Don’t lose your home to foreclosure…

LOAN MODIFICATIONS AVAILABLE Real Estate (including short sales) Bankruptcy Landlord/Tenant Collections Wills and Estates Personal Injury We offer a complimentary consultation 516-742-1741

105 Hillside Ave., Suite D Williston Park, NY 11596 www.adgesesq.com

40 real estate, banking & finance • News Times Newspapers, Friday, June 5, 2015

MEET MINDY: REAL ESTATE RE-INVENTED Mindy Miles Greenberg is a familiar face in the world of TV. Having appeared nationally as a regular on‑air Interior Designer for 5 years on Home & Garden Television, she is sought after for her ability to visualize and communicate the plan and layout of a home, focusing on function and style. She is an expert in renovations, helping buyers to visualize how that space can be transformed and personalized.

LISTINGS: Tap into her talents for real estate staging. Mindy’s keen eye for design trends and positioning furniture/art/ accessories to show your home to its best potential, will provide you with great photographs which give you, the seller, an upper hand in this competitive on‑line marketplace.

She was named the Top Producer: Units 1st Quarter of 2015 and Top Producer: Listings 3rd Quarter 2014 in the D. E. Great Neck office.

SELLING: Naturally, her love of architecture has fueled her dedication for showing and selling real estate.

Mindy loves to partake in the “hunt” for the perfect home.

COMMUNITY: A native of Great Neck, Mindy has the pulse of the GN Community at her finger tips. Growing‑up locally providing her with a lifelong knowledge of our town. Getting involved is the reason Mindy formed the group “Great Neck Gatherings” on the site, Meet‑Up. Also a member of the “Board of Directors” of the Chamber of Commerce of Great Neck, she was recently recognized for her service as she actively got involved with top community leaders.

GLOBAL: With over 10,000 Twitter followers plus lots of FB friends, Mindy doesn’t just list your property on the MLS and hope for the best. Her strategic plan of marketing brings notice to the properties she represents, in an upscale, friendly manner.

Mortgage terms to know

SELLING? BUYING? RENTING? RELOCATING? Surely you’ve seen her zipping around town, as her car has the license plate: SOLD 2 U. iPhone 6+ in hand, Mindy is always close‑by to act as your trusted advisor.

Call or text her at: 917.974.4500.

MINDY GREENBERG

Licensed R. E. Salesperson C: 917.974.4500 mindy.greenberg@elliman.com www.GreatNeck-RealEstate 110 WALT WHITMAN ROAD, HUNTINGTON STATION, NY, 11746. 631.549.7401 EQUAL HOUSING OPPORTUNITY. © 2015 DOUGLAS ELLIMAN REAL ESTATE.

SELLING? BUYING? RENTING? ASK MINDY FIRST Presenting My Listings: 6 Cypress Ave, Kings Point $1,748,000 | Web# 2740133 58 Grace Ave #1A, Great Neck Web# 2729897 58 Grace Ave #2G, Great Neck Web# 2762719 1 Maple Ave #2D, Great Neck Web# 2750614 1 Maple Ave #2A, Great Neck Web# 2732694 30 Grace Ave #3M, Great Neck Web# 2768055 75 S Middle Neck Rd #2D, Great Neck Web# 2738569

6-8 Wooleys #A22, Great Neck Web# 2767718 15 Beach Rd #1N, Great Neck Web# 2726101 15 Beach Rd #3T, Great Neck Web# 2728965 4 Historical Ct, East Hampton Web# 2684290 Rented for Summer 20 Canterbury Rd #1H, Great Neck Web# 2713340 | Under Contract 215 Middle Neck Rd, Great Neck Web# 2715770 | Under Contract 103 S Middle Neck Rd, Great Neck Web# 2721870 | Under Contract

Mindy Greenberg, Licensed R. E. Salesperson Award Winning Agent & HGTV Interior Design Celebrity Member, Board of Directors, Great Neck Chamber of Commerce C: 917.974.4500 | mindy.greenberg@elliman.com www.greatneck-realestate.com

110 WALT WHITMAN ROAD, HUNTINGTON STATION, NY, 11746. 631.549.7401 | © 2015 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS ARE DEEMED RELIABLE, BUT SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. PHOTOS SHOWN MAY HAVE BEEN MANIPULATED. EQUAL HOUSING OPPORTUNITY.

Financing Questions? We have answers 24/7 Irina Pashinsky Vice President, NMLS# 6517 O: 516.967.4524 | C: 516.967.4524 ipashinsky@decapitaltfsb.com COPYRIGHT 2015 © THE FEDERAL SAVINGS BANK | ALL RIGHTS RESERVED | THEFEDERALSAVINGSBANK.COM

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uying a home is simultaneously exciting and stressful. Owning a home is still a dream for many people, but first-time buyers often find that their unfamiliarity with the home buying process is a source of stress. Part of that stress stems from the terminology associated with home mortgages. Many terms may raise an eyebrow among first-time buyers, so the following are a few mortgage terms buyers can familiarize themselves with to facilitate the process of buying their own homes.

Closing costs: Buying a home is expensive, and part of that expense is the closing costs. Any time a real estate transaction occurs, that transaction is accompanied by certain expenses, which are known as the closing costs. Closing costs may include attorney fees, loan origination fees, title insurance and escrow payments. Buyers can sometimes negotiate with the seller so the seller will agree to pay the closing costs, or the costs can be shared by the buyer and the seller. But buyers may also pay the closing costs in their entirety on their own.

Escrow: Escrow is a bond, deed, document or money kept in the custody of a third party until a real estate transaction has been completed. In addition, escrow accounts are used to hold the property tax and insurance fees that are collected via your monthly mortgage payment.

Fixed-rate mortgage: A fixed-rate mortgage, unlike an adjustable rate mortgage, is one in which the interest rate on the mortgage remains the same for the life of the loan. Buyers

typically prefer a fixed-rate mortgage because they know exactly what they will be paying for their home each month. An adjustable rate mortgage, often referred to as an ARM loan, is one that typically comes with a lower interest rate than a fixed-rate mortgage, but that lower rate is usually only locked in for a relatively brief period of time, such as one year.

Once that initial time period is over, the interest rate will then increase and may increase several times thereafter over the life of the loan.

PMI: PMI, which stands for private mortgage insurance, must be purchased by home buyers who are financing more than 80 percent of their homes. The standard down payment when purchasing a home is 20 percent, but some buyers cannot afford such a down payment. As a result, the lender then mandates that such buyers purchase PMI, which protects the lenders if the borrower defaults on the loan. The cost of PMI will be added to your mortgage payment, and once you have 20 percent equity in your home you can cancel PMI, at which time your monthly mortgage payment will decrease.

Title insurance: Title insurance is a tool that protects both the buyer and the seller against legal issues that may arise as a result of the home’s title. Title insurance protects buyers and the lender from the possibility that the seller was not legally permitted to transfer ownership of the property to the buyer. Title insurance may also protect sellers from any issues that may arise that threaten his or her ability to sell the home.

News Times Newspapers, Friday, June 5, 2015 • real estate, banking & finance

ADVERTORIAL

Gold Coast Bank Concierge Mortgage Service

Buying or refinancing a home is a significant financial (and personal) decision: One that requires sound information, solid advice and guidance from a professional you can trust. That is what the Gold Coast Concierge Mortgage service program provides.

An innovative approach, our mortgage-lending program offers a unique concierge level of service. One of our experienced mortgage representatives will meet you at one of our five convenient branch locations or come to your home or office to help you choose the best mortgage product for your specific needs. We will coordinate every step to make the entire mortgage process simple, efficient and hassle-free.

Along with this truly personal touch, Gold Coast Concierge Mortgage provides: • Competitive interest rates and closing costs.

• A full lineup of traditional fixed-rate and adjustable-rate mortgages.

• Jumbo loans.

• Special options for borrowers who are self-employed.

For more information on our concierge mortgage services or details on how to apply, please contact Robert Jacobs via email at mortgages@gcbny.com or visit your nearest Gold Coast branch location.

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42 real estate, banking & finance • News Times Newspapers, Friday, June 5, 2015

How to easily grow your savings saving rate rose to 5.4 percent in the third quarter of 2013, which is up from 5 percent in 2012.

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ne of the keys to successfully managing money is to save money. Conventional financial wisdom recommends men and women have between three and four month’s worth of earnings in their savings accounts to cover themselves in case of an emergency. But many people live paycheck to paycheck, while others are mired in debt.

A 2013 survey from BankRate. com found roughly threequarters of Americans have little emergency savings. Many working professionals find it

hard to save any money once they have paid their monthly bills, including home expenses, child care and other common expenses.

Although many Canadians are not saving enough, there seems to be a silver lining with regard to money management in that part of North America.

The percentage of people who claimed they could not save dropped from 28 percent in 2012 to 17 percent in 2013, according to a BMO Financial Group report on household savings. Statistics Canada reported that the household

Financial analysts point to consumer trends among younger generations as one possible cause of the dwindling emphasis on saving money.

Previous generations were taught the benefits of saving and being frugal, but nowadays many people struggle to distinguish between necessities and luxuries. More readily available access to credit and a more materialistic culture may also be contributing to fewer dollars being saved.

While saving may seem like an uphill battle, a little saving can go a long way. Explore these relatively painless ways to cut back and save more money.

Do it yourself. Make a list of all the service providers used — from manicurists to hair stylists to lawncare professionals — and figure out where cuts can be made. Doing all or a portion of the work yourself can save a considerable amount of money. Do your own weeding and edging, only paying a landscaper to perform the more

time consuming task of mowing the lawn. Skip an in-salon coloring treatment for an athome application. Spend a day preparing meals for the week and eliminate much of your dining out expenses or fast food excursions.

Review your shopping cart.

Impulse buys can bust budgets.

When grocery shopping, take some time before getting in line to review your potential purchases. Compare items against your list and figure out if any items can go back on the shelf. Do the same when shopping online. Before you proceed to checkout, review items in your cart. Chances are you can delete one or two from the list.

Consider new stores. If you find yourself spending more than you feel is necessary when shopping, look for new stores. Smaller markets may offer produce and other items at a fraction of the cost of large chain stores. Instead of doing all of your shopping in one place, shop around and buy items where they are the least expensive. For example, you may find paper products are more affordable at a pharmacy

than at the supermarket.

Learn to coupon effectively.

Although you need not go to extremes, use coupons when shopping and learn how to pair sales with coupons to earn even greater discounts. Many blogs and websites help make the process easier, telling you when and where to clip coupons. Sometimes you can print coupons directly online or load discounts to a shopper loyalty card.

Scale back on certain services. Assess your lifestyle to determine which services you can live without. If you rarely watch television, you may be able to reduce your cable or satellite package. Figure out if bundling services really does save you money. Add up how many minutes you use on mobile phone plans as well as the amount of data. You might find that you do not need the biggest phone plan after all.

Saving does not have to be challenging. Opportunities to save money present themselves at every turn.

Master the little ways to shave off expenses and grow your savings.

News Times Newspapers, Friday, June 5, 2015 • real estate, banking & finance

danielgale.com

The Old Westbury Office Covers It All It’s no surprise that Old Westbury and its neighboring communities are among the most sought after on Long Island. A varied stock of homes in all price ranges are complemented by verdant landscapes, parks, excellent schools, shopping, restaurants and proximity to Manhattan. “Right now inventory is low and houses priced right are flying to contract,” says Wendy Osinoff-Sutton, sales manager for Daniel Gale Sotheby’s International Realty’s Old Westbury office. “Pricing continues to be the most significant factor in buying or selling a home,” she adds, “and it’s important to have a trusted, experienced agent to help you navigate the market and negotiate for you.” Daniel Gale Sotheby’s agents represent buyers and sellers in all price ranges and communities and have earned a reputation for personal service, discretion and unparalleled expertise.

“Homebuyers who come from the city are looking for turnkey homes—those with new bathrooms and kitchens topping the list,” says Osinoff-Sutton. “Many of today’s buyers are the children of long established families that are coming back. They are very familiar with the lifestyle, and want to bring up their children in the environment they enjoyed.”

Homes starting at around $600,000 are coming on the market in Albertson, Mineola, and East Williston as the people who live in those homes are moving up and can afford more house because of the current prices and mortgage rates. “We see a lot of people who move around within the area and don’t leave the East Williston enclave,” says Osinoff-Sutton.

The activities that are provided for young families are plentiful and diverse. After school activities of all kinds abound, both at the schools and in the larger communities. For the adults there are plenty of continuing education opportunities. Local attractions include Christopher Morley Park, Clark Botanical Garden and Old Westbury Gardens. These institutions host many activities for children and adults. During the days leading up to Halloween, for example, Clark Botanical Garden holds its Spooky Walk, and the pumpkin carving exhibit at Old Westbury Gardens draws spectators from all around Long Island.

Nearby, the Nassau County Museum of Art in Roslyn Harbor, Long Island University Post, New York Institute of Technology, SUNY Old Westbury provide valuable educational and cultural opportunities while the Old Westbury Equestrian Center, miles of quiet riding trails and the polo fields off of Whitney Lane make Old Westbury a horse lovers’ haven.

For last 16 years, Daniel Gale Sotheby’s International Realty has consistently been the leading office among all the real estate companies in the area. Wendy Osinoff Sutton and her exceptional sales team list and sell more homes that any other real estate company in the area. Daniel Gale Sotheby’s marketing efforts outdo all other companies in the local, regional and global marketplace and their local knowledge, and best in the industry training and technology make them optimally positioned to provide the rewarding transaction for both buyers and sellers.

516.626.7600

Old Westbury Office 342 Wheatley Plaza, Greenvale NY oldwestbury@danielgale.com Each office is independently owned and operated. We are pledged to provide equal opportunity for housing to any prospective customer or client, without regard to race, color, religion, sex, handicap, familial status or national origin.

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44 real estate, banking & finance • News Times Newspapers, Friday, June 5, 2015

danielgale.com

The Old Westbury Office Covers It All

Albertson, NY East Williston SD #2.

MLS# 2763882. $618,000.

Brookville, NY Jericho SD #15. MLS# 2662823. $1,998,000.

Old Westbury, NY East Williston SD #2.

MLS# 2708679. $1,675,000.

Old Westbury, NY East Williston SD #2.

MLS# 2761593. $1,098,000.

Old Westbury, NY East Williston SD #2.

MLS# 2756861. $3,250,000.

Mineola, NY East Williston SD #2.

MLS# 2738307. $578,000.

Roslyn, NY Herricks SD# 9. MLS# 2757323. $660,000.

Williston Park, NY Herricks SD #9. MLS# 2757548. $689,000.

Wendy OsinoffSutton

Marlene Brenner

Jill Brown

Cynthia Corey

Sarah Italian

Andrea Kamhi

Gerry Kimmelman

Frida Klinghoffer

Sandra Romagnuolo

John Wei Pan

Perry Tehrani

Patrice Farber

Lois Kirschenbaum

Doris Sheena Zilkha

Susan Hucke

Andrea Iannucci

Judy Milman

Maria Petkanas

Jared Zipes

Ellen Zipes

Old Westbury Office • 516.626.7600 • 342 Wheatley Plaza, Greenvale NY • oldwestbury@danielgale.com Each office is independently owned and operated. We are pledged to provide equal opportunity for housing to any prospective customer or client, without regard to race, color, religion, sex, handicap, familial status or national origin.