It seems as though everyone is looking for a “deal” right now… Everyone is looking for the dream foreclosure house that will be perfect inside but priced at a foreclosure price. We list many foreclosure/bank sales for Bank of America and other Banking Institutions. We have access and knowledge of foreclosure options before they come on the market and quick access to ALL homes that are currently available.

Please CLICK HERE to view this deal!

Us Realtors use the term œStar Exemption” or “Star Reduction”  everyday and so we assume everyone knows exactly what we are talking about.   The other day a couple came into an open house of mine and asked me to explain what the STAR is.   After I answered their question they said œThank you.   We™ve been wondering what that means.   It got me wondering how many other first time homebuyers have no idea what that means and haven™t asked.  

So, What is the STAR exemption?

When you pay taxes on your home, you are paying the combined amount of the School Taxes and Property Taxes.   Because school taxes are so high, the State has issued a deduction on the  school taxes called  School Tax Relief (Which is really STR, but adding the A makes for a better acronym.)  

Who is eligible?

Every  Single homeowner is eligible, but only for  your primary residence.   If you own  2  houses, you only get the STAR reduction on  one.  

How do you apply?

Applications can be obtained and must be filed with the Nassau County Department of Assessment located at 240 Old Country Road, 4th  Floor, Mineola, New York 11501-8402.   You can also download the form at www.mynassauproperty.com    

How much Will I save?  

It varies, but it averages $1,000-$1,200 a year.  

Us Realtors use the term œStar Exemption” or “Star Reduction”  everyday and so we assume everyone knows exactly what we are talking about.   The other day a couple came into an open house of mine and asked me to explain what the STAR is.   After I answered their question they said œThank you.   We™ve been wondering what that means.   It got me wondering how many other first time homebuyers have no idea what that means and haven™t asked.  

So, What is the STAR exemption?

When you pay taxes on your home, you are paying the combined amount of the School Taxes and Property Taxes.   Because school taxes are so high, the State has issued a deduction on the  school taxes called  School Tax Relief (Which is really STR, but adding the A makes for a better acronym.)  

Who is eligible?

Every  Single homeowner is eligible, but only for  your primary residence.   If you own  2  houses, you only get the STAR reduction on  one.  

How do you apply?

Applications can be obtained and must be filed with the Nassau County Department of Assessment located at 240 Old Country Road, 4th  Floor, Mineola, New York 11501-8402.   You can also download the form at www.mynassauproperty.com    

How much Will I save?  

It varies, but it averages $1,000-$1,200 a year.  

I found this question posted on a website and decided to answer it here:

Question:
Before we bought our house, we hired a home inspector. He said the roof was worn and needed a few bundles of wood shakes for patching. The seller said there used to be some leaking but assured us that this had been repaired.

After moving in, we noticed a hole in the roofing and called the inspector to reconsider this omission in his report. He agreed to install a metal patch and invited me onto the roof for a look. What I saw was disturbing.
The condition of the shakes was worse than stated in the inspection report. After this, I got repair bids from three roofing contractors. Each of them stated that the roof needed replacement. This was a major shock, considering the huge expense of reroofing. Shouldn™t our home inspector have alerted us to this? “Dave

My Answer:
When you get a home inspection, the inspector is focusing on 4 major structural issues of the house:
1. Foundation
2. Plumbing
3. Electrical
4. The Roof

Unfortunately, this was a terrible home inspector. It is his responsibility to assess the condition of the shakes. But is he liable? Well, that is a longer answer. There are many home inspectors that work part time, out of their garages, but using them is a huge risk. You should hire someone who is licensed and insured. If a home inspector is not insured you have no recourse for your terrible home insection. However, if they are insured you have full recourse for any mistakes they may have made.
Here are some things to look for during a home inspection:
¢ First, make sure they are from a reputable company and they are licensed, bonded, and insured.
¢ The home inspector should physically walk across the entire roof. Not all do. Taking a look without actually walking on the roof is not good enough. You cannot accurately assess a roof without seeing the whole thing. Also, if they go up onto the roof they can look inside the chimney, which usually needs repair. Really great home inspectors invite you onto the roof to take a look yourself.
¢ The home inspector should be focusing on the major structural concerns and not cosmetic ones. If your home inspector is recommending new kitchen cabinets and countertops, they are not doing their job. Only if the house is a new construction should issues like this be brought up.
¢ The inspector should take you around with them and explain everything. If he says œHave a seat and I™ll let you know when I™m done, this is a red flag. He should be walking you through every step, explaining the house to you.

My recommendation:
I have been through over 100 home inspections and I can say with 100% confidence that my recommendation for a home inspector is Jason Hicks from WIN Home Inspection. I am not affiliated with him or his company and I am not getting paid for this endorsement. I just know that he is the best at what he does and when it came time to buy my own home, he was the only person I would use. He can be found at http://www.wini.com/gardencity

More Americans prefer living in walkable, mixed-use neighborhoods with easy access to local amenities, according to the a Survey by the NATIONAL ASSOCIATION OF REALTORS ®. More than half (56 percent) of respondents say they preferred living in a walkable neighborhood over one that requires more driving between work, home and recreation. When considering a home purchase, 77 percent of respondents say they would look for locations that had abundant sidewalks, while 50 percent say they would rather see improvements to the existing public transit system than initiatives to build new roads.

While space is important to many home buyers, some say they are willing to sacrifice square footage if it means less driving. Nearly three out of five home buyers (59 percent) say they would choose a smaller home if its location promised a commute time of less than 20 minutes.

So what does this mean? If you are selling a home that is walkable to the train station, shops, or a bike path, you have a selling feature that needs to be ADVERTISED! And if you are looking for a home in a walkable neighborhood, I can help!

Time for a move? Email me at sold@daniellemcquillan.com

Are you planning to get married and buy a home, but wonder where your down payment funds will come from?FHA has a Bridal Registry program where the money you receive as a wedding present can be used towards your down payment. Just like registering at a specialty or department store, the FHA Bridal Registry program allows you to register with a lender. Then your friends and family are able to make gift payments into an interest bearing account on your behalf.

It™s a win win! Not only can your gifts earn interest, but they can be used as a down payment towards an FHA Loan.

Bridal Registry Guidelines

Bridal Registry Accounts were are a little known fact when it comes to down payment assistance. The misunderstanding of how this program works might be the fact that it was originally only allowed by banks. Soon after, FHA modified the program and offered new flexible options and the opportunity for the newlywed to set up the account at any bank. Plus, newlyweds are now able to make deposits on their own from the gifts they receive.

Here™s how it works in 3 simple steps:
¢You will open a savings account at your bank prior to the wedding
¢Friends and family will be given the banking information where the gifts will be deposited
¢All of the gift funds can go towards the FHA required 3.5% down payment
¢Anyone with an interest in the purchase cannot be party to the gift funds (i.e. realtor)
¢There is no requirement that you be married prior to closing on your new home
Another huge advantage is that there are no gift letters or other documentation required other than proof of your savings account named œbridal registry account.

It™s that simple!

ARE YOU CURIOUS How this works? Email me at sold@daniellemcquillan.com for more info!

Do you have money growing on trees?If you have an established garden with mature trees, it is quite possible that you do!

Did you know that a mature Japanese Maple could cost $7500 to replace? That a mature Mahogany tree could be worth as much as $100,000!

Grab your attention?

When I bought  my home, I attributed value to the mature maple, oak and various other trees and shrubery on the property.  I did not want to wait  15 years for saplings to mature.

A 2009 report by Delloitte and Touche for the Canadian Nursery and Landscape Association found that a well-landscaped property can add up to 20% to the value of a home and that landscaping can bring a recovery value of 100% to 200% when you sell your home. This is because trees are more expensive the older and bigger they get.

Horticultural Asset Management, takes an insurance perspective and, for a $400 fee, will produce a book that will provide an inventory, complete with photographs, and will present a five year valuation of the items in a garden.

Bill Glynn, the co-founder, says that about ten percent of the gardens assessed have plants worth more than $10,000.

Want to add value to your home? ¦ Or, thinking of selling and want to obtain full value? Do not neglect your garden.

Attracting Birds and Helping to Save Our Planet are just added benefits.

Are you curious about how much value you™ve added to your home? Call me for a free market evaluation at 516-797-3700.

This large Colonial Home in Biltmore Shores has all of the 1920′s charm  plus all of the modern upgrades.   OPEN HOUSE this weekend: Saturday May 21st and Sunday May 22nd from 1-3 pm. This home has it all!

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Foreclosures:   Nationally vs. locally

In the United States:     1 in every 593 housing units received a foreclosure filing in April 2011

In Nassau County:     1 in every 1,333 housing units received a foreclosure filing in April 2011

While Long Island is doing better than most of the country in terms of Foreclosures, we are still seeing a steady number of foreclosures in Nassau County.   In Massapequa alone, 18 properties received a foreclosure filing in April 2011.

A Call to Action! New York Needs a Property Tax Cap!

New York property taxes are 78% higher than the national average. Take action NOW and tell your state representatives that you support a two-percent property tax cap!Click Here for the facts: Tax Cap Facts
Click here to TAKE ACTION: TELL ALBANY TO ” CAP¦THAT¦TAX!