Friday, December 11, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
http://www.globalpropertysystems.com
Thousands of New York’s elderly population may be forced to decide between renewing their real estate tax exemptions or risking contracting Covid-19 with a trip to their town hall during the height of the pandemic.
In a few weeks, senior citizens who earn more than $38,000 per year must re-apply for their real estate tax exemptions, which often save them thousands of dollars a year. To do this, they’ll need to fill out and file renewal documents with their town. Some New York lawmakers are concerned that seniors will put themselves at risk for contracting Covid-19 during the trip to their town hall.
State Senator David Carlucci is presenting a bill to the New York State Assembly which will allow seniors to be automatically renewed for 2021. “We don't want a situation
where seniors feel forced that they have to travel to the Town Hall in this ...
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hudson valley real estate, 'urb to 'burb, hudson valley home owners, property taxes, lower property taxes, covid 19, senior citizens
Tuesday, November 10, 2020 / by Vanessa Saunders
Photo by Bruno Bucar on Unsplash
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
After months of campaigning, weeks of voting and untold hours of the media digesting and regurgitating the story of the moment, we have survived another presidential election. Given the challenges we faced during the campaign - a deadly pandemic, an economy suffering the worst recession since the depression and numerous hot-button racial and immigration issues - we still have a real estate market that's white hot, and record-low mortgage rates that have pushed prices to new heights. So what issues can New York real estate expect for the next four years? Here’s the short list according to a report from Inman News.
Affordable housing
The Biden campaign’s housing proposal pinpointed the dearth of housing supply as the driving force behind the affordability crisis.
Biden has pledged to invest $640 billion in housing over the next 10 years. Among other h ...
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hudson valley real estate, hudson valley home, 'urb to 'burb, hudson valley home owners, hudson valley home sellers, selling your home, pandemic, lower property taxes, capital gains taxes, racial discrimination, racial steering, red lining
Thursday, August 27, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
According to a survey conducted by ClosingCorp, over half of all home owners are surprised by the closing costs required to obtain their mortgage. Buyers in New York must have been a large number of those surprised home owners, because the survey showed that the state of New York has the highest closing cost average in the nation. Real estate transactions all come with closing costs, fees and taxes added by nearly any agency with a seat at the public trough. For many, transfer tax is often one of the biggest slices of the closing cost pie.
New York State imposes a transfer tax on all property transfers over $500. Other states, New York City and even smaller cities have their own rules which differ from New York's. The tax is loved by the state government, because it rakes in a very tidy sum without much effort for Albany. In 2019, the existing real estate transfer and mansion taxes generated about $. ...
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hudson valley real estate, hudson valley property, 'urb to 'burb, hudson valley home owners, hudson valley home sellers, selling your home, hudson valley house, property taxes, taxes
Tuesday, March 31, 2020 / by Vanessa Saunders
March 31, 2020
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
Every home owner pays property taxes on their home or commercial property. No one likes how much they're taxed. Even if you pay off your mortgage, taxes are still assessed. Along with death, they never go away. But there are some simple tricks home owners can use to lower the taxes they pay. Most involve lowering either the estimated value of the property, or lowering the tax rate.
Ask to see your property card.
Your town hall has tax cards for every home that is taxed by that municipality. This card includes information about the size of the lot, the precise dimensions of the rooms, and the number and type of fixtures located within the home. Other information may include a section on special features or notations about any improvements made to the existing structure.
Errors are not uncommon on tax cards, so as you review your card, note any discrepancies, and raise these issues with the tax; ...
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hudson valley real estate, hudson valley property, hudson valley home owners, 'urb to 'burb, home inspections, lower property taxes, appraisals, taxes
Tuesday, February 25, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
Morgan Housel, a partner at Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal has compiled a list of "100 Little Ideas" that help to explain how the world works; In reading them over, I found a lot of them apply to the upcoming election in general, and tonight's Democratic Party debate in particular. For example, we might experience the candidates practicing Courtesy Bias: "Giving opinions that are likely to offend people the least, rather than what they actually believe."
Another tactic we may see is called Poisoning the Well: Presenting irrelevant adverse information about someone in a way that makes everything else that person says seem untrustworthy. “Before you hear my opponent’s healthcare plan, let me remind you that he got a DUI in college.”
Or how about the unfortunately named Buridan’s Ass: A thirsty donkey is placed exactly midway between. ...
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hudson valley real estate, hudson valley property, 'urb to 'burb, funny blog, global investment properties, international properties, manhattan real estate, international real estate, ny, property taxes, just for fun, taxes
