Buying and selling real estate in the communities of Long Island
BloggersValerie Kellogg Kristin Lavin Taveira Maura McDermott Lisa Doll Bruno
It's been a year since superstorm Sandy hit the shores of Long Island, but it hasn't become any easier to quantify the long-term impact it's had on the local housing market.
In the short term, of course, there was a dire need for housing for those impacted by the storm, and the rental market caught fire. But many displaced Long Islanders have since found viable alternatives. At the same time,...Read more »
Nassau County residents at risk of foreclosure and those whose homes were damaged by superstorm Sandy can get free legal help at a clinic on Monday.
The Nassau County Bar Association will offer the clinic from 3 to 6 p.m. at its headquarters at 15th and West streets in Mineola. Required reservations can be made by calling 516-747-4070.
Volunteer attorneys and federally certified...Read more »
New York's top prosecutor has sued Wells Fargo and reached an accord with Bank of America over allegations that the two banks violated terms of a $25 billion settlement over mortgage abuses.
The most critical problems involve delays in processing homeowners' requests for help, state Attorney General Eric T. Schneiderman said at a news conference Wednesday.
"If you are a homeowner...Read more »
CitiMortgage representatives will meet with homeowners this weekend in Hauppauge to discuss mortgage modifications, refinancing and other potential help for those in distress.
The one-on-one consultations will take place on Saturday from 8 a.m. to 4 p.m. at the Upsky Long Island Hotel at 110 Motor Pkwy.
Homeowners should bring their mortgage account number; pay stubs for the last 60...Read more »
Looking for a quick $40,000? Consider joining the rapidly growing legion of New York-area home flippers. The average gross profit on a home owned for less than six months and sold in the first half of 2013 in the New York City, Long Island and Northern New Jersey area was $39,458, according to a report released July 19 by real estate analytics firm RealtyTrac.
Based on gross profit percentage...Read more »
The foreclosure backlog that has played a major role in slowing Long Island's statistical home price recovery showed the first signs of easing last month, according to a report released June 13 by RealtyTrac.
Scheduled foreclosure auctions, which signal that a distressed property has completed New York's extremely lengthy foreclosure process, more than doubled in both Nassau and Suffolk counties,...Read more »
Pent-up demand and a limited supply of homes for sale boosted U.S. home prices 12.1 percent in April compared to a year earlier, real estate analytics firm CoreLogic said June 4. That marks the largest increase since the height of the housing bubble in February 2006. Even the monthly price gain between March and April 2013 was notable, at 3.2 percent.
Less remarkable, however, were the housing...Read more »
Though foreclosures are falling nationwide, Long Island remains a hotbed for distressed properties. Nassau and Suffolk counties combined for the third highest percentage of foreclosed homes in any major metropolitan market outside of Florida, according to a report released Tuesday by analytics firm CoreLogic.
The report found that 6.5 percent of all mortgaged homes on Long Island were in some...Read more »
The number of Long Island homeowners whose mortgage debt surpassed their homes' value surged last year.
Nearly 1 in 10 Long Islanders with mortgages -- 9.9 percent, or 53,639 households -- owed more than their homes were worth at the end of 2012. That share was up 3.1 percentage points from the same time in 2011, when 36,594 households were "upside down" on their mortgages, according...Read more »
Nearly 700 distressed homeowners on Long Island have received legal help and housing counseling funded by last year’s $25 billion settlement with mortgage lenders, the state’s top law enforcement officer said Wednesday.
Plus, more than 150 Long Islanders who suffered Sandy storm damage have benefitted from assistance such as help dealing with insurance companies and the Federal Emergency Management...Read more »