amanda's Profile
- Amanda
- 1996
- Forever
- Brooklyn
- Bedford Stuyvesant
Author's Posts
October 12, 2008
Taking Over
Everybody, a proposal:
Go see Danny Hoch's Taking Over at the Public Theater (http://www.publictheater.org/component/option,com_shows/task,view/Itemid,141/id,932) and then we can have a lively debate about gentrification. Contrary to the billing, it is about *Williamsburg* not New York City, but don't let that stop you.
Seriously. It is worth seeing. And then it is worth talking about. Okay?
September 3, 2008
Pond Liner Ideas?
We have a pond in our community garden with a heavy rubber liner. We recently discovered some large tears in the pond lining which are having predictable results. We're looking at patch kits but I'm wondering if others have experience with durable pond s in backyards?
July 23, 2008
Legitimate Foreclosure Counseling
I have a neighbor who's in default on her mortgage and spiraling (which I think is what happens when you begin to default) downward.
I noticed that Neighborhood Housing Services has a clinic coming up tomorrow:
http://www.brownstoner.com/forum/archives/2008/07/free_foreclosur.php
but I don't know the first thing about them. Are they going to have useful advice and assistance or are they going to sell her on a sketchy loan?
Does anyone have insights about their reputability? Other organizations she should reach out to?
Thanks.
July 16, 2008
Points (what am I missing)
Can someone explain why lenders tell me that one point (at, say $3000) saving $20 on each mortgage payment will pay for itself in 7 years? By my math, I'd need 12 years before that point starts paying off.
Here's my math:
c = the cost of one point
s = savings on monthly payment
12 = months in a year
y = time to break even
y=(c/s)/12
So on a 300,000 loan, if a point takes you from 6.8% to 6.7%, you're looking at a difference in mortgage payments of $19.94. It will take you 150.44 payments before you've paid back your original $3000 investment. That magic point comes after 12.5 years.
Or is my math way off?
Is there some other magic to that equation?
I'm not taking into account lost interest on that $3000, but that would only stretch out the time you'd have to hold a mortgage to see any advantage, right?
PS. If I'm being dense, please do try to be nice about it.
July 9, 2008
Mortgage Brokers
We're approaching closing and haven't locked in a mortgage rate yet. Our broker is now quoting us a higher rate than he did when we first sat down with him a month ago (it went from 6.3% to 6.8%) and a higher rate than my idle search of bankrate suggests we ought to be able to get.
I have two questions. One is about whether we can stop now and start shopping, since he's sitting on all of our paperwork. The other is about whether there is something we ought to know about bankrate, like that I'm missing something.
June 19, 2008
Termite Inspector?
I'm looking for termite inspector ASAP, as we're already in contract. My read on the forums is that ...
Terminex is a bunch of upsellers;
But Parkway and AVP Termite & Pest Control are fine.
Anything I should know before I call those last two?
Other suggestions?
May 29, 2008
What if you just want to keep your SRO to yourself?
I'm curious, and I'll confess a little bit lazy since this is just a curiosity question not something I'm planning to base my real estate investment around, but if I buy an SRO and I want to just live in it, sans tenants, do I have to navigate the certificate of no harassment?
Or is that only if I want to do permit-requiring work?
May 27, 2008
Use and Occupancy
We're negotiating a contract and the seller is asking for either a use and occupancy agreement or a delayed closing while she closes on her new house.
Our lawyer says that this is totally common and no big thing. My father in law flipped and said it sounded like the most crazy insane thing he'd ever heard.
So, um, whose right?
May 26, 2008
Tenancy In Common?
I'm looking for tenancy in common agreements that other people have used in NYC. Anyone want to share?
Nolo Press has California covered but I can't find anything comparable for New York.
Author's Comments
Okay, one: the community board, zip code and council district boundaries are all on Classon. This is Bed Stuy.
Two: it is hard for me to see how a bunch of privileged rich folks snapping up the cookies at heavenly crumbs is good for anyone in the neighborhood. It won't improve life for the people trying to get by around there.
Already longtime
Posted by: amanda at April 30, 2008 1:59 PM in response to Development Watch: 377 Franklin Stalled No More
1:46 -- Moron? or shark? I'm just saying. Maybe he was smarter than you think. If he can sell someone on a buggy unit they don't want, he's pretty smart.
The prices at 377 Franklin though have to be a joke. Is "new" that worth it? I find it hard to believe that anyone is paying that much money to live on that block of Franklin when they could get a floor of a brownstone a block away for that price. There's no sidewalk for half the block.
Posted by: amanda at April 30, 2008 2:19 PM in response to Rentals: 377 Franklin Avenue 90% Rented
Sounds like you get the idea: it is a matter of public record. So is a lot of other data, like whether or not you voted in the last election, or, in some cases, your salary (like if you work in a small nonprofit, for instance). It is even pretty straightforward to find out who owns a car with a given license plate.
If there is a good reason why your identity needs to be concealed (like you're in the federal witness protection program or sumfin) you may be able to get help, but you'd have to go through the courts.
Even if you can get your name off of the record, the numbers will still be public.
Posted by: amanda at April 30, 2008 4:54 PM in response to Posting on Property Shark
I'm struggling with similar issues and finding it very hard to know how to negotiate. There is a ton of work that is altogether functional, but we *know* they never got permits for any of it. There are a few things that are seriously non-functional and we are trying to figure out how much we want to get estimates before we go into contract.
Posted by: amanda at May 7, 2008 11:54 AM in response to Buying a home not up to code
We need a fire escape repaired (a few rungs are coming loose) -- so I, too, would like any insights on good contractors who do this work.
Thanks!
Posted by: amanda at May 7, 2008 12:00 PM in response to Fire Escape Installation
hey, hey1: my very strong recommendation is to spring for a login on Consumer Reports: http://www.consumerreports.org
They have very reliable data.
Posted by: amanda at May 7, 2008 3:38 PM in response to Cost of Conversion: General Estimate
I know this thread is ancient, but I just wanted to say ... you probably get the idea.
You don't always get what you pay for, people get scammed all the time at both ends of the scale of shelling out. Get a couple of bids, check references, and monitor the work closely. Don't be afraid to ask questions about how the bill will be broken down.
Posted by: amanda at May 7, 2008 3:44 PM in response to Are these estimates ridiculous?
I recently got a few bids because I thought I could talk my landlord into installing one. It was going to cost over $1000 to build something we could use on the third floor.
I actually think $1000-1500 isn't outrageous given the kind of structural integrity you need (it is just a wee bit less simple than it looks, and you don't want it falling over ...) but I wasn't willing to spend that and neither was my landlord.
Posted by: amanda at May 8, 2008 5:06 PM in response to we want a clothesline pole/ladder
Slopenick, did you really just say that ("Either way, you could (hopefully) refinance your way out of a bad deal.") -- have you been under a rock for the last two months?
You might be able to refinance your way out of a bad deal, you might not. You might end up being part of the next foreclosure crisis. If rates fall and you have maintained good credit, you might be able to re-negotiate a fixed rate mortgage, but I wouldn't enter an ARM on the theory that you can just refinance later if interest rates skyrocket.
It sounds like OP should do a lot more research about how mortgages work before s/he signs a million dollar one. Do a web search for "Understanding Mortgages" or check out on of PACC's first time homebuyer classes.
http://www.prattarea.org/homeservices.htm
PS. I'm with 9:25 on looking up the rates for yourself. Any newspaper with a real estate section publishes that information.
Posted by: amanda at May 8, 2008 5:13 PM in response to Mortgage?
BrooklynLove,
Are we seeing that in Bed Stuy now? I look at recent sales on Property Shark and I am just not seeing prices "plummet."
Posted by: amanda at April 23, 2008 9:24 AM in response to Foreclosure of the Week: 872 Park Place