Real Estate Word of the Day: Equity

Equity is the difference between the market value of a property and the outstanding balance on a mortgage or any other debts secured by the property. In simpler terms, it's the portion of your property that you truly own outright. As you pay down your mortgage and your property's value appreciates, your equity in the property grows. Equity is not just a number on paper; it's a powerful financial asset that can have a significant impact on your financial well-being.

Equity is one of the primary ways people build wealth through real estate. As you pay down your mortgage, your equity increases, and if the property's value appreciates, your wealth grows even faster. Over time, this can lead to substantial financial…

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Pros and Cons for Buying a Fixer Upper:


In real estate, you may hear quite a lot buying a fixer up. This has many different meanings but they all mean that it is a home that is in need of a lot of work cosmetically and a lot of TLC to make it a home again. Buying a fixer upper can be worth it depending on the certain situation you are in. If you are in a good financial state, a fixer upper can be beneficial for an abundance of reasons. Some reasons vary from being an investor who is fixing up a property to rent out, a construction worker who bought the home to flip and resell or even someone who bought a fixer upper to make their dream home.

The pros to buying a fixer upper can be worth it since they usually are bought at a low price depending…

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All about the Staten Island Neighborhood Rosebank:

Staten Island is broken down into 14 different zip codes from 10301 to 10314 and into 67 different neighborhoods. Throughout this series of blogs, we will be discussing each and every neighborhood on Staten Island as well as breaking down the history, what stands there today and transportation and what community district it falls into. Staten Island is broken up into three different community districts which are: North Shore, Mid-Island, and South Shore.

Today we will be breaking down all the history about the Staten Island neighborhood, Rosebank. This neighborhood is home to the North Shore & the zip code 10305. One of the five boroughs of New York City's Staten Island is home to the area known as…

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Real Estate Word of the Day: Encroachment

Encroachment is a situation where one person or entity, intentionally or unintentionally, intrudes upon another person's land or property. This intrusion can take various forms, such as buildings, fences, driveways, or even overhanging tree branches or roots.

Encroachments can happen for a variety of reasons. Sometimes, they result from honest mistakes, like a property owner misjudging their property boundaries. Other times, they may occur maliciously, as a neighbor intentionally encroaches on your land. Regardless of the cause, encroachments can have serious legal and financial consequences.

If you discover an encroachment on your property, it can lead to disputes and legal battles with the encroaching…

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Real Estate Word of the Day: Eminent Domain

Eminent domain is a power bestowed upon the government, both at the federal and state levels, to acquire private property for public purposes. These purposes can include building infrastructure like roads, bridges, schools, and hospitals. The government must provide just compensation to the property owner when exercising eminent domain, as mandated by the Fifth Amendment to the United States Constitution.

Eminent domain can have a significant impact on property owners and the real estate market in several ways. When the government exercises eminent domain, they must determine the fair market value of the property being taken. This valuation process can be complex, involving appraisers and legal experts.…

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