Ideas for Fixing & Flipping Houses

Start by cleaning the exterior of the property. Does it need light sweeping or a heavier job done with a pressure washer?

Check for peeling paint. Can it be touched up, or does the exterior need a full paint job?

Is the trim wood in good shape? Any rotted wood will need replacing. Any unpainted or unstained wood will need to be covered.

How does the front of the property look from across the street? If plants cover windows or need trimming for other reasons, cutting them back can make a big impact.

If there are no pretty plants in the yard, consider planting long-lasting flowers to add color and charm.

Any leaning or broken fences or gates should be repaired or replaced.

If the lawn is dead or full of weeds, watering and weeding is in order.

Replace dated fixtures, house numbers, and other accents.

Be sure the front door opens smoothly and looks nice.

Cleaning the whole house may make the biggest impact of all. If the house is in otherwise good shape, cleaning kitchen counters, bathrooms, windows, etc. will make a shocking difference and good first impression.

Washing windows brings in more light and sparkle.

Be sure to vacuum window sills and runners, where dead bugs seem to gather.

Where possible, add higher wattage lights for brightness.

Walls may need cleaning (especially if the house was owned by a smoker).

If the condition of walls is beyond simple cleaning, perhaps a full paint job is in order.

Walls in good condition, but with odd or dark colors, will be improved greatly by covering with white or very lightly off-white paint. This will make the room seem larger, as well.

Look over window coverings. Are they an asset or a liability to the property? If in poor shape or outdated, remove them.

Any décor item that is not attached to the real estate will still be the seller’s property to take home once the house is sold.

Therefore, investing in a few décor items, such as mirrors, art, new bath and kitchen towels (that may be used in the next house or one’s own home), etc. can give the house a homey feeling and direct buyers’ eyes to specific areas.

If window coverings need to be added, choose light, neutral colors. Windows with a great view may be best left uncovered.

Some homes need cute decorations, some more expensive houses need elegant decor. Access the home and choose decor that enhances the particular home.

To save money, decor can sometimes be borrowed from friends or even one's own home.

'DIRTY' WORDS IN REAL ESTATE ADS

By JEREMY OLSHAN



Here are seven dirty words you can't say in real-estate ads: exclusive, quiet, private, bachelor, kids, walking and playroom.

Despite repeated warnings in state-mandated training sessions that such language could violate anti-discrimination laws in the context of selling or renting an apartment, the seemingly innocuous terms continued to appear in ads.

So this week, real-estate giant Corcoran officially banned more than 200 potentially "offensive" words and even installed new software that makes it impossible for brokers to type them into their ads, according to a memo e-mailed company-wide.

Laws such as the Fair Housing Act were written to prevent discrimination against buyers or renters on the basis of their race, gender, occupation, religion, sexual orientation, marital status or disability.

Now, due to a slew of recent court cases and increased enforcement, companies such as Corcoran are taking pains to strip terms such as "bachelor pad," which may discriminate against couples, and the terms "couples" and "family-friendly," which may offend singles.

The Corcoran list considers mentions of nearby churches and synagogues as sinful, while the word "professional" is out because an ad cannot discriminate based on occupation.

The company also excised the term "exclusive" because it may be interpreted as meaning racially exclusive. The reasoning behind some of the banned words - like "quiet" and "safe" - could not be readily determined.

The guidelines have some Corcoran employees frustrated.

"By saying 'walking distance,' I would be discriminating against those who are unable to walk," Christine Toes, a Corcoran vice president, wrote on the blog urbandigs.com. "Hopefully, I can still use 'close proximity to public transportation.' "

A spokeswoman for Corcoran said Toes' views did not represent those of the company.

Officials from the city Commission on Human Rights and the state Division of Housing did not return calls for comment.

Brokers are required to take Fair Housing training to get their license, and refresher courses are regularly given. But despite this, potentially discriminatory information such as the identity of the local school district and mention of amenities such as playrooms continue to find their way into ads.

Ensuring that real estate is available to all regardless of age, race or occupation is a noble cause, but the new interpretations of the law seem to extend such protections to the extreme, Toes said.

It is not against the law for brokers to describe a coffin-sized studio as "cozy."

jeremy.olshan@nypost.com

Source: http://www.nypost.com/seven/03122009/news/regionalnews/dirty_words_in_ads_159197.htm

Apartment Hunting Tips

Finding an apartment in New York City is always difficult, for people of all income levels. Be sure you know all there is to know about looking for an apartment before beginning your search.

Ways to Find an Apartment

#1: Brokers One of the most common methods of finding an apartment in New York City is using a real estate broker. If you know what neighborhood you want to live in, it's usually best to find a broker based there. Many brokers also have Web sites where you can view available apartments, sometimes even with photos and detailed descriptions.

#2: Word-of-Mouth There is good news for those who would prefer not to pay hefty brokers' fees: a substantial number of New Yorkers find their units by word-of-mouth, mostly from friends, relatives, and co-workers. If you're looking for an apartment, make sure everyone you know knows that you're looking.

#3: Classified Ads The third most common method used by recent movers is a classic: the classified ad. Movers cite using the New York Times, the Village Voice, the Daily News, local or community papers, and Newsday. Foreign-language or ethnic newspapers, such as El Diario and the Jewish Press, are also a good source of classified ads. Many newspapers now post their classified ads online, so make sure to check out the Web sites of local papers and online message boards like newyork.craigslist.org.

#4: Walking Around A small but notable percentage of movers find their apartment when they simply see a "For Rent" sign. It can pay to walk around the neighborhood you want to live in and look around.

#5: Housing Office If you're living here for professional or educational reasons, don't neglect your organization's housing office or service. They know what you often don't about renting in New York City and it's their job to help you find a great new apartment.

#6: Referral services are a growing resource that savvy hunters, especially those who are comfortable searching on the Internet, should not neglect. For a monthly fee these services will provide you with a list of no-fee apartment rentals as they become available.

#7: Apartment Referral Office Finding a Vacant Apartment in Same Building Other movers find their apartments in the same building in which they already live. Be proactive and talk to neighbors, doormen, supers, landlords, and/or your management company to see if another apartment is available in the same building.

#8: Going on Waiting Lists Affordable housing is often offered through waiting lists or application lotteries. If you have time before you need to move, put your name on waiting lists and/or fill out applications for affordable housing through the NYC Department of Housing Preservation & Development (HPD), the New York City Housing Development Corporation (HDC), or the NYC Housing Authority (NYCHA).

#9: Community Groups You may occasionally find housing through local government offices or community groups that keep information on neighborhood housing notices.

#10: Apartment Guides Lastly, don't forget to rely on resources like our Apartment Guide. These general references provide information about leases and other housing issues.

Real Estate Rollercoaster

Brooklyn's Amazing Sights

Brooklyn Heights

Grand Army Plaza

Brooklyn Flea Market

Coney Island

Botanical Garden

Bensonhurst

Prospect Park

Downtown Brooklyn

Brooklyn Museum

Brooklyn Bridge

Stimulus Package effect on New York Real Estate Market

The financial meltdown is drowning New York’s real estate market.

The nearly decade-long construction boom has ended abruptly. The city’s residential market, which seemed immune to the market turmoil as the average price of a Manhattan apartment has continued to rise, is about to see a sudden drop. The accelerating number of job losses is sending commercial vacancy rates up and rental rates down.
“I think it’s going to be like being pushed over a cliff,” said Louis Coletti, president of the Building Trades Employers’ Association. “2009 is shaping up to be a horrific year.”

Mr. Coletti’s organization puts the value of cancelled development projects at $5 billion and he thinks that figure will continue to rise.

Those invested in the future of the city’s real estate industry are armed with ideas to throw at the problem, ranging from tax incentives to streamlining government bureaucracy. Their primary hope, however, is that President-elect Barack Obama’s proposed $800 billion stimulus package will stop the decline.

“New York City must be ready to engage the federal infrastructure dollars,” said Mary Ann Tighe, chief executive for the New York Tristate region at CB Richard Ellis Inc. “It will go a long way toward something positive happening in a difficult period.”
In the meantime, the numbers are bleak.

Permits for new residential buildings fell 74% in November, according to the U.S. Census Bureau. A report by brokerage firm Prudential Douglas Elliman and real estate appraiser Miller Samuel Inc. noted that the number of apartments for sale in Manhattan rose 39% in the fourth quarter, pushing the inventory up to 9,081 apartments, the third highest level in a decade. The report for the first quarter is likely to show a decline in average prices of at least 15%, said Jonathan Miller of Miller Samuel.

With financial firms contracting and shedding space, commercial office leasing hit a seven-year low in the fourth quarter, falling 19%, to 19 million square feet, from the year-earlier period, according to a Cushman & Wakefield Inc. study. The plunge in activity pushed Manhattan’s overall vacancy rate to 8%. Average commercial rents fell $5, to $79.81 a square foot, the largest quarterly decline in memory.

The financial industry alone lost 17,800 jobs in the last 16 months, and as employment continues to drop, so too will rents. It’s the law of supply and demand at work. “The more people, the more requirement for space,” thus boosting rents, said Barry Gosin, chief executive officer of Newmark Knight Frank. The reverse holds true, of course.

To spur activity, Mr. Gosin recommends reinstating tax incentives for converting commercial space to residential use in lower Manhattan. The program — credited for revitalizing the financial district in the first part of this decade — would take commercial space off the market and boost slumping rents.

On the residential side, the city could liberalize the recently tightened 421-a tax exemption program to spur residential projects elsewhere in the city.

“This is a longer-term solution to a longer-term problem,” said Andrew Singer, chief executive of The Singer & Bassuk Organization, a real estate consulting firm, about revamping the 421-a program. The hope is that when banks start financing projects again, developers armed with a tax advantage could get back to work more quickly.

A reorganization of the New York City Department of Buildings sits at the top of Ms. Tighe’s to-do list. Reforming the commercial mortgage-backed securities market makes the cut, too.

If there’s no plan for dealing with problems that arise as those mortgages come to term, pain in the commercial sector could lead to the same wave of foreclosures that have crippled the residential market. Providing financing for commercial mortgages is “a critical step toward avoiding a major, major hit across the country,” said Steven Spinola, president of the Real Estate Board of New York.

While disagreement exists on the effectiveness of these programs, everyone believes the best hope for New York’s real estate and construction industries lies in the Obama stimulus plan and its hundreds of billions of dollars for infrastructure.
“There is the expectation that these investments will create thousands of jobs,” said Michael Della Rocca, president of the North American operations of Halcrow, a leading infrastructure firm. Mr. Della Rocca sees a twofold benefit from Mr. Obama’s stimulus package. In the short term, federal funding will stimulate jobs and spending on raw materials. In the long term, financing infrastructure projects will bolster confidence in the city among potential investors looking for places to do business.
“It’s necessary to do fundamental maintenance and operations,” said Mr. Della Rocca. But he argued that the government must also strategically dole out federal funds to projects like the Second Avenue Subway and East Side Access, which may not have as many immediate benefits but will create more jobs and more revenues in the future.

Mr. Spinola said that while the city may be down, it is certainly not out, and conditions remain a far cry from the 1970s. “The bottom line: People still want to be in New York,” he said.

Source: http://www.crainsnewyork.com/

Strange But True Laws In New York

• A fine of $25 can be levied for flirting. This old law specifically prohibits men from turning around on any city street and looking “at a woman in that way.” A second conviction for a crime of this magnitude calls for the violating male to be forced to wear a “pair of horse-blinders” wherever and whenever he goes outside for a stroll.
• A license must be purchased before hanging clothes on a clothesline.
• A person may not walk around on Sundays with an ice cream cone in his/her pocket.
• Before the enactment of the 1978 law that made it mandatory for dog owners in New York City to clean up after their pets, approximately 40 million pounds of dog excrement were deposited on the streets every year.
• Citizens may not greet each other by “putting one’s thumb to the nose and wiggling the fingers”.
• Donkeys are not allowed to sleep in bathtubs in Brooklyn, N.Y.
• In Carmel, N.Y., a man can’t go outside while wearing a jacket and pants that do not match.
• In Greene, New York, During a concert, it is illegal to eat peanuts and walk backwards on the sidewalks.
• In New York, you can teach your pet parrot to speak, but not to squawk.
• In New York City you need a permit to transport carbonated beverages.
• In New York City it is illegal for a man to give ‘The Standard Lear’ to a woman. Violators are forced to wear horse blinders.
• In New York City, it’s illegal to throw swill into the street.
• In New York City it’s illegal to shake a dust mop out a window.
• In New York State it is still illegal to shoot a rabbit from a moving trolley car.
• In Ocean City, New York It is illegal to eat in the street in residential neighborhoods, and the only beverage you can drink on the beach is water in a clear plastic bottle.
• In Ocean City New York, It is illegal for men to go topless in the center of town.
• In Staten Island, New York, It is illegal for a father to call his son a “faggot” or “queer” in an effort to curb “girlie behavior.”
• In Staten Island, New York, You may only water your lawn if the hose is held in your hand.
• In Tonawanda, New York homeless people may not start a fire in the park unless they intend to cook food.
• It is against the law to throw a ball at someone’s head for fun.
• It is illegal for a woman to be on the street wearing “body hugging clothing.”
• It is illegal to jump off the Empire State building.
• It’s illegal in New York to start any kind of public performance, show, play, game or what have you, until after 1:05 p.m.
• Jaywalking is legal, as long as it’s not diagonal. That is, you can cross the street out of the crosswalk, but you can’t cross a street diagonally.
• Members of nine New York Indian tribes are exempt from the city’s eight percent parking tax.
• New York and a handful of other states require that toilets be evenly divided among men and women in public theaters or arenas.
• You may not smoke within 100 feet of the entrance to a public building.
• Women may go topless in public, providing it is not being used as a business.
• New York City may be the theater capital of the country, but it’s illegal to have a puppet show in your window and a violation can land you in the snoozer for 30 days.
• New Yorkers cannot dissolve a marriage for irreconcilable differences, unless they both agree to it.
• Ocean City: It is illegal to eat in the street in residential neighborhoods, and the only beverage you can drink on the beach is water in a clear plastic bottle.
• Slippers are not to be worn after 10:00 P.M.
• Staten Island: You may only water your lawn if the hose is held in your hand.
• The New York City Transit Authority has ruled that women can ride the city subways topless. New York law dictates that if a man can be somewhere without a shirt, a woman gets the same right. The decision came after arrests of women testing the ordinance on the subways. A transit police spokesman said they would comply with the new rule, but “if they were violating any other rules, like sitting on a subway bench topless smoking a cigarette, then we would take action.” Smoking is not allowed in the subways.
• The New York State Senate passed a resolution to commemorate the 25th anniversary of the Brooklyn Dodgers’ 1955 world championship and expressed a longing that someday the Dodgers will return to “their one and only true home.”
• The penalty for jumping off a building is death.
• To cut down on its once-horrific graffiti problem, New York City several years ago made it illegal to carry an open can of spray paint.
• While riding in an elevator, one must talk to no one, and fold his hands while looking toward the door.