NY Area: Home Ownership Still a Good Investment

December 10, 2010 Leave a comment

No surprise here.

According to recent data from the National Association of REALTORS® (NAR), home ownership is still a solid (if not exciting) decision from an investment standpoint.

For the full Newsweek article, click here.

The better news for NYC area home buyers is that greater NYC area was named the 5th “Best Performing Big Metro” area in the U.S. with a +41% increase in home price from 1990 to 2010, which includes the near -20.0% drop in the past few years.

New York Skyline For more info click here.


Andrew C. WilsonAndrew’s Take:

Overall, none of this should be surprising, especially when you take into account the mid- to long-term time horizon and the source of the information (NAR). For housing in established areas to generally only modestly outpace inflation is historically normal. The major price increases of the early 2000s were an anomaly resulting in the recent decreases in home prices.

Even though the past data looks good for the metro market at large, the prevailing trends don’t apply evenly to every city or neighborhood. Be sure you work with someone who can put specific information in your hands when looking to buy or sell.


Work with a buyer’s agent who is also a licensed architect.

Andrew Wilson: NY Architect and REALTOR®

Looking for Queens or Long Island Real Estate? Contact Andrew today.

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October Long Island Real Estate Skinny

November 27, 2010 Leave a comment

October Long Island Real Estate Skinny

Check out this video for a quick overview of the housing market on Long Island.

Brought to you by MLSLongIsland.

Starting the Mortgage Conversation: The Paperwork

November 26, 2010 Leave a comment

Lender Checklist:

Paperwork You’ll Need for a Mortgage

  1.  W-2 forms — or business tax return forms if you’re self-employed — for the last two or three years for every person signing the loan.
  2. Copies of at least one pay stub for each person signing the loan.
  3. Account numbers of all your credit cards and the amounts for any outstanding balances.
  4. Copies of two to four months of bank or credit union statements for both checking and savings accounts.
  5. Lender, loan number, and amount owed on other installment loans, such as student loans and car loans. 
  6. Addresses where you’ve lived for the last five to seven years, with names of landlords if appropriate.
  7. Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, such as a boat, RV, or stocks or bonds not held in a brokerage account.
  8. Copies of your most recent 401(k) or other retirement account statement.
  9. Documentation to verify additional income, such as child support or a pension.
  10. Copies of personal tax forms for the last two to three years.  

Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®.

Copyright 2008. All rights reserved.


Andrew C. WilsonAndrew’s Take:

Some lenders will require additional documentation to what is listed here, but if you pull together the items above early in your search and keep them organized in a binder or folder, you will be well on your way to a successful approval!  Don’t forget that in the wake of the mortgage crisis, it is more important than ever to be able to document to a lender that you are worthy of a loan. 

 Further, in the Queens and Nassau real estate markets, co-op apartments are common and board applications will require this documentation as well.  All the more reason to stay organized.


Work with a buyer’s agent who is also a licensed architect.

Andrew Wilson: NY Architect and REALTOR®

Looking for Queens or Long Island Real Estate? Contact Andrew Today:

andrew.wilson@realestate.com

Categories: Real Estate, Top Tips

September Long Island Real Estate Skinny

October 29, 2010 Leave a comment

September Long Island Home Sales: Slowly but surely…

Check out this video for a quick overview of the housing market on Long Island.

Brought to you by MLSLongIsland.
Vodpod videos no longer available.

If you are currently looking for a home in Northeast Queens or Western Nassau, contact Andrew Wilson today.

Notre Dame vs. Army: A Goalpost Rises in Yankee Stadium

October 29, 2010 Leave a comment

Notre Dame Football is coming to NYC. Hopefully, it fairs better here than in New Jersey…
A goal post went up today for Army/Notre Dame on 11/20 and th... on Twitpic
Click for bigger view: From @YankeesPR

Categories: NYC

Queens Real Estate Market Report: July 2010

August 20, 2010 Leave a comment

Queens Real Estate Market Report: July 2010

What is the latest real estate market information in Queens?

Are prices up or down?  By how much?  What does this mean to you?  Check out the Queens market report for July 2010. Click the image below for a .pdf download.

Queens July Report

Subscribe to this blog via RSS (at top right) so you don’t miss the next update!


Andrew’s Take:
Andrew C. WilsonIn my opinion, here are the highlights for Queens buyers:

  • On average in Queens, a home, co-op, or condo will still sell for around 90% of its listing price. (p.6 of the report) If you know your price range, keep this in mind when you are shopping.  This trend has been relatively stable while every other metric is volatile.
  • The industry is definitely feeling the hangover from the tax credit.  Many sales were pulled forward by the government incentive. Inventory is creeping up again, meaning there are just more homes for sale… good news if you are a buyer.

If you are interested in discussing the overall market and what it means to you, contact me today. andrew.wilson@realestate.com


Categories: NYC, Queens, Real Estate

Nassau Real Estate Market Report: July 2010

August 20, 2010 Leave a comment

Nassau Real Estate Market Report: July 2010

What is the latest real estate market information in Nassau?

Are prices up or down?  By how much?  What does this mean to you?  Check out the Nassau market report for July 2010. Click the image below for a .pdf download.

Nassau Sales Report July 2010

Subscribe to this blog via RSS (at top right) so you don’t miss the next update!


Andrew’s Take:
Andrew C. WilsonIn my opinion, here are the highlights for Nassau buyers:

  • On average in Nassau, a home, co-op, or condo will still sell for around 90% of its listing price. If you know your price range, keep this in mind when you are shopping, because that’s real money.  This trend has been relatively stable while every other metric is volatile.
  • The industry is definitely feeling the hangover from the tax credit.  Many sales were pulled forward by the government incentive. Inventory is creeping up again, meaning there are just more homes for sale… good news if you are a buyer.

If you are interested in discussing the overall market and what it means to you, contact me today. andrew.wilson@realestate.com