Investor Deals Available in Westchester County NY

Mount Vernon Bank Owned- $122,400

Peekskill -$79,900

Newburgh. - $30,000

White plains $200,000

Croton falls $150,000

Lake Peekskill- $89,900

New Windsor Orange County Single family Short Sale $140,000

Ossining Rehab Single family $85,000

Poughkeepsie Single Family Rental Property $89,925

Mount Vernon Short Sale 3 Family $180,000

Yonkers 4 family Short Sale $180,000

Poughkeepsie 2 Family Short Sale $115,925

Condo Studio Yorktown- $60,900

Bronx 1 Bedroom Condo- $60,000

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No Risk Home Selling

A No Risk Home Selling Offer!
Do you feel you have no control when selling your home?

Do you know most Brokers will Charge you the same fee no matter how your home sells?  Would you believe, even if you find the buyer?

Are you worried about signing a 180 Day listing or longer?

We remove the risk of which Realtor to choose

We have come up with the industries best commission structure. No other Real estate company will advertise the commission like we do.

3%

Another agent represents the buyer. Our commission is 1% and the other agent receives 2%.

2%

We find the buyer and write the contract. There is no other agent involved. Our commission is just 3%

1%

You find the buyer and there is no other agent involved. We write the contract and walk it through closing for you. Our commission is 1%.

0%

You find the buyer and there is no other agent involved. You don’t want our assistance and you pay nothing.

Sell your property yourself, while it is listed with Crecco Real Estate and pay no commission.

This does not apply to a buyer exposed to the property by my office or by another agent.

Cancel the Listing At Anytime

Either you or I can cancel by calling and simply saying “I want to cancel the Listing”. The cancellation becomes effective at the time you call. Please allow two business days to have the sign removed and the listing withdrawn from the Multiple Listing Service.

No Advance Fee of Any Kind

You only pay if Crecco Real Estate procures an offer that is acceptable to you.

No Pressure Presentation

I will never allow you to be pressured by the buyer’s agent. All offers will be faxed or emailed to my office and presented to you by phone, fax or email so that you can make your decisions privately.

Benefits with A No Risk Listing

You get the flexibility that most agents don’t or won’t offer. If you list with just any other agent they can lock up your listing for up to 180 days, whether you are happy with their performance or not.  That is just not fair.

Staying in Touch

We follow up on every showing with other agents. We then contact you with the feedback so you know what’s going on.  Marketplace feedback is a valuable tool in procuring the most money for your home. Most agents neglect this.

Helping You get Top Dollar

As your agent is my duty and help negotiate the best possible price and terms for you. Because of our research and finger on the pulse of the market we have the experience and awareness of the marketplace to guide your decisions.

Complete Market Analysis

Anybody can press a button a computer program and churn out data showing comps.  In fact there are a number of online programs for the home seller to do just that.  While it is important to know what has sold, It is equally important is what the current competition is, as well as who has failed to sell.  This information becomes even more meaningful when interpreted through the eyes of experience.  Much like evaluating x-rays, without the doctor’s experience and training the information can be misdiagnosed.  This is how we determine the ceiling of what the market will bear, as well as the average marketing time for your neighborhood.

Setting the Right Price

No marketing on earth can overcome a bad price. Key components to a fast sale include: Pricing correctly, the home on lockbox (with easy access) and correct information in the MLS. Add to that a knowledgeable, skilled agent, and your home will sell.

Possible Changes That Can Make You Money Sometimes $200 – $300 wisely spent can net you $2000 – $3000 extra at closing.

Handling the Detail Work

*Professional Sign Installed

* Listing Properly Filled Out and Correctly Entered Into MLS

* Multiple Property Photos to All Websites * Follow up Contact All Agent That Show Property

* Daily Lockbox Readouts

* Negotiations of Contract and Explanation of Options

* Written Estimate of Cost of Sale

* Working with Appraisers to Obtain Maximum Value

* Monitoring Buyer’s Loan approval Process

* Negotiating the Results of Home Inspections

* Wood Destroying Organisms (Termite etc.) Report

* Final Walk Through

* Review of Title Company Settlement Figures

*Maximum Exposure 
install an electronic MLS lock box so licensed agents can show your property even when                you can’t be home   

* Network with other agent to make them aware of Your Listing

* Exposing your home to our buyers Data base

* Handling sign calls from Potential buyers and pre-qualifying them when possible

* Flyers featuring Property highlights

* Our Internet exposure is 2 to none

Never Too Busy For You

Although we are proud of the number of we are able to assist with their housing needs, we never lose sight of the fact that each and every transaction matters. No matter how large or small.

Special No-Risk Offer:

You keep more money in your pocket with A No Risk Listing exclusively with Crecco Real Estate.  Most Brokers will charge you the same fee no matter how your home sells…. even if you find the buyer. With the A No Risk Listing you have complete flexibility… from “Full Service” to “Do it yourself”. Does that sound fair?  Yea, that’s what we thought too.  So if you want a fair deal, with NO RISK? We are the only Choice.

Anthony J. Crecco

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In the news this week (January 31 - February 4, 2011)

The markets will continue to watch the political unrest in Egypt closely this week. In addition, a number of high-impact reports will hit this week with the big news coming on Friday. We’ll discuss the impact of these reports in next week’s newsletter.

• We started the week off right away Monday morning with reports on Personal Spending and Personal Income, as well as the Personal Consumption Expenditures (PCE) Index, which is the Fed's favorite gauge of inflation. 
• Manufacturing was also in the news this week. On Monday, we saw the Chicago PMI, which surveys more than 200 Chicago purchasing managers about the manufacturing industry and is a good indicator of overall economic activity. Then on Tuesday, the ISM Index was released. This is the king of all manufacturing indices and is considered the single best snapshot of the factory sector. 
• The big topic of the week will be employment. First up was the ADP National Employment Report on Wednesday, which measures non-farm private employment. 
• The ADP report will be followed by another round of Initial Jobless Claims on Thursday. In last week’s report, Initial Jobless Claims came in well above expectations. We shouldn’t read too much into that spike, since weather could have played a sizable role in the jump. However, if readings over the next couple weeks don't settle back down closer to the 400,000 level, there may be reason for concern. 
• Finally, the busy week culminates in the all-important Jobs Report on Friday. This report features new data regarding non-farm payrolls, the average work week, hourly earnings and the unemployment rate. Needless to say, this report can be a big market mover.

As you can see in the chart below, bonds received a bit of a bump at the end of last week, helping home loan rates recover from losses earlier in the week. This boost was prompted by political turmoil in Egypt that had investors seeking the safety of bonds.

Chart: Fannie Mae 4.0% Mortgage Bond (Friday, January 28, 2011)

Economic calendar for the week of January 31 – February 4, 2011

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Weekly Economic Summary - February 3, 2011

The housing market received a serving of good news last week, as New Home Sales reportedly rose 17.5% in December to come in better than expectations. Overall, the report demonstrated that housing continues to recover – albeit slowly. Despite that good news though, the markets were keyed in on another important event last week-- the release of the Fed’s Interest Rate Decision and Monetary Policy Statement.

As expected, the Fed made no change to the Fed Funds Rate and even the Policy Statement was pretty much the same. But that didn’t stop the markets from getting a little fired up about the release.

It’s important to understand that the Fed has to be very careful with how bullish their economic comments are, as they don't want to see long-term rates move higher. The Fed's comments couldn’t be categorized as bullish as they said "employers remain reluctant to add to payrolls" and "the housing sector remains depressed."

So why did bonds initially improve nicely on the news and then crumble later in the day? The answer is: not everyone in the trading pits is buying what the Fed is saying. Instead, some people believe the Fed is talking down the true underlying strength of the economy, so that it can justify injecting the full $600 billion of quantitative easing into the economy.

Last week, President Obama delivered his State of the Union Address to members of Congress. Although the President’s call for a freeze on discretionary spending for five years may appear to be bond bullish in that any reduction in the deficit would be good for bonds, the reality is that so much more has to be done to really get our long-term debt in check. And some of last week’s weakness in bonds was likely attributed to the feeling that the speech came and went without any real sense that the deficit is going to be reduced in a meaningful way, especially in the near term. The bond market probably would have liked the word "cut" in spending rather than "freeze," since a “freeze” suggests only a temporary halt in spending at current levels.

In the end, the news last week demonstrated that economic conditions are improving, but they are doing so gradually. As a result, the market remains volatile, as bonds and home loan rates move up and down depending on what reports or speeches hit the news wires. The good news is that despite the volatility, home loan rates remain extremely low for now.

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Mortgage Rates Rise

A sudden spike in Treasury yields drove up the interest rate on 15- and 30-year mortgages in December. Rates rose despite the Federal Reserve's efforts to keep them low and ease economic conditions by purchasing up to $900 billion in Treasury bonds. Treasury yields were propelled higher by encouraging news regarding economic growth and the prospect of a larger federal budget deficit stemming from the recent tax compromise. For the week ending December 16, the average interest rate on a 30-year, fixed-rate mortgage was 4.83%, up from 4.61% the previous week-but still lower than the average rate of 4.94% one year earlier, according to Freddie Mac. The average 15-year fixed interest rate was 4.17%-up from 3.96% the previous week, but down from 4.38% during the same week in 2009.  

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Foreclosures Intrigue Home Buyers Looking for Deals

RISMEDIA, December 20, 2010—(MCT)—Last spring, in the waning days of the first-time home buyer tax credit, Stephen Ploski made an offer on a foreclosed home in Farmington Hills, Mich.  He said the 1,400-square-foot home was livable, but needed serious updates. He was willing to do the work, and take the risk.  In exchange, he got a deal. The three-bedroom, one-bathroom home was his for $49,000. He lives in the home with his wife, Ashley and their daughter Lana.

“I wanted to buy a home because the market conditions were right,” said Ploski. “This is my first home for my family. But if you do it with an investor’s mind instead of getting emotionally attached, you can get money out of it.”

Despite strong interest in buying foreclosures, supply is expected to continue to outstrip demand in the coming year.

In a survey released last week, conducted by Harris Interactive, on behalf of Trulia and RealtyTrac, nearly half, or 49% of U.S. adults admitted they were at least somewhat likely to consider buying a foreclosed property. That’s up from 45% in May.

Ploski, a builder and remodeler, said the house had a bit of mildew, but mostly needed updates. He put in a new furnace and hot water heater, ran new wiring and installed some new drywall and insulation. He also removed two walls in the dining room to create an open floor plan with the kitchen and living room.

The improvements cost $4,000 because he did the work himself. But he figures he added roughly $11,000 to the value of the home. And when the $8,000 tax credit comes through, he’ll use that to update the kitchen. “We will sit on this one for three to five years because that’s how long you have to stay with the home buyer tax credit,” he said. “We’ll find another diamond in the rough and do the same thing.”

Carol Wagner, a REALTOR® with Real Estate One in Commerce Township, Mich., said that one of the biggest drawbacks in a buying a foreclosure is that it comes without seller’s disclosures. “So some people don’t want to buy them because they don’t know what’s involved,” she said. “Most people looking at foreclosures now are investors.”

Kevin Suksi, a financial services industry recruiter by day and real estate investor by night who lives in Dearborn, Mich., said that investors rarely buy the move-in ready foreclosures. Those largely go to owner-occupants who are willing to offer more money.

Instead, investors look for houses with bruises they can fix and sell or rent for income. “Everyone wants a deal right now, but what will they deal with?” Suksi said. “I think people will deal with paint and carpet and things like that, but when it comes to major structural problems they steer clear.”

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Weekly Economic Summary

Last week in review (January 3 - 7 2011)

The Labor Department reported that 103,000 jobs were created in December, and private job growth was 113,000. While these numbers were below the recently ramped up expectations, they do show that the trend in the labor market is improving. Also noteworthy are the upward revisions to the prior two months readings, showing 70,000 more jobs created than had been previously reported.

While unemployment figures could expect to be lower when job-growth increases, the real shocker in the report was the size of the decline in the unemployment rate to 9.4%, which is the lowest unemployment rate since May of 2009.

So what did we learn from this Jobs Report?

1. While positive news, this jobs number was still soft enough to support the Fed continuing their plans for a full dosage of QE2 for the economy and this won’t be good for bonds and home loan rates, as it carries some inflation threat down the road.
2. The recent tax package and lower tax rate extensions have not yet had enough time to be seen or felt in the economy, so those factors should help provide further improvement in the labor market in future months but also will create inflation – bad news for bonds and home loan rates.

The Fed seems intent on creating inflation, lowering the unemployment rate and raising stock prices. QE2 will likely keep coming until the employment picture improves significantly, and this is all going to be unfriendly for bonds and home loan rates ahead.

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