Tom Crimmins Realty Blog

Be Flood Smart & In The Know

You are paying for house insurance, assuming your property is covered for any natural disaster that can possibly occur. However, not all homeowners are aware that home insurance policies don't necessarily cover damage related to a flood, as the risks are too great. As a result, homeowners must purchase flood insurance through a private company.

What Is Flood Insurance?

Most insurance policies cover some form of water damage, ranging from leaking faucets to bursting plumbing pipes. Fun fact you may not realize is - some policies don't cover water damage because of flooding of rivers or backed up sewers that pump into your home. Standard flood insurance policies cover "direct physical damage" to a property resulting from floods.

A separate policies…

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The 'Must Have' List: Why Deciding Your Must-Haves Before Viewing Homes Ideal

Knowing what you want before you start looking is a big help when house-hunting. Providing your real estate agent with a list of 'must-haves' before you begin touring listings is a not only beneficial to your agent but yourself as well. 

Is it a 'Must-Have' or a 'Nice-to-Have'?

Before making a hasty decision, it is always wise to repeat to yourself: need, want or desire.

There are items that you want and certain 'deal breakers' that you cannot live without. An absolute 'must-have' might be proximity to work or certain schools, whereas desirable features could include a shed or a built-in barbeque pit. Knowing the difference between something you want and something that is absolutely required can save you a lot of time and money.

How to…

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SERIES: Social Media Tips For Twitter -> Queuing

If you can't beat them, join them! Social media is at an all time high and has numerous outlets.

Twitter has more than 500 million registered users who share about 340 million tweets per day. With these high numbers, it is only logical for real estate agents to sign up and use Twitter to interact with clients and learn from peers.

Creating a social platform and status is a stepping stone for real estate agents. It is a great way to market and advertise a personal brand listings - with a 140 character limit. Twitter is simple to use and easy to do. 

Whether you are just getting started or already have a Twitter account that may be lying dormant, these twitter tips for real estate agents will help you in the first step of our Twitter social media…

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What Are "Post-Closing Reserves?"

When applying for a mortgage, a lender may ask a borrower to show "post-closing reserves," depending on the mortgage program that the borrower is applying for (the funds must only be "shown," they are not taken by the lender). This is a very common underwriting guideline when applying for a "Conventional" mortgage on a 2-unit property. For example, if the proposed "PITI" (principal and interest, real estate taxes and homeowner's insurance) total $2,000 per month, then a lender wants to see a total of $12,000 in reserve, post-closing. These assets, that need to be shown, may be excess liquid funds in bank accounts, monies held in mutual funds or retirement funds (lenders generally let a borrower use 60% of a non-liquid retirement account when used for…

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Tom Crimmins Realty Opens New Office On South Shore

Watch out South Shore! Tom Crimmins Realty has officially opened their doors in a new office located at 282 Nelson Avenue. 

Since starting in the real estate business four years ago, Tom Crimmins Realty became the fastest growing real estate company on Staten Island. Having a new office location on the south shore allows every area on Staten Island to be serviced by our seasoned professionals respectively. 

According to Staten Island Board of Realtors MLS Ranking, in 2013, Tom Crimmins Realty finished third islandwide. Stats also show the firm is the #1 on the North Shore agency regarding actual sales. Crossing fingers these stats will continue in our adventures in the south shore.

Years of experience helping buyers and sellers means Tom Crimmins…

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Understanding Your Credit Score and How It Impacts Your Home Ownership Prospects

Your credit score is an important part of your financial profile. It has a direct impact on your ability to take out loans. The score itself is a numerical reflection of your credit history. It gives lenders a way to discern your reliability before approving a loan like a mortgage for instance. 

Mortgage Loan Approval: Will Your Score Make the Cut?

First and foremost, the status of your credit score is a deciding factor in whether or not you are approved for a loan. Even if you put down a large down payment on your home, a low credit score can still cause the loan to be rejected. For this reason, it's best to wait until you've built up a good credit score before looking to purchase a house.

Mortgage Interest Rates: The Lower the Score the Higher…

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Quick Ideas to Enhance Home and Aesthetic Value

As homeowners, we are always searching for ways to enhance our home and aesthetic value. Don't despair if you are short on cash. You can still have a beautiful home. Sometimes a little elbow grease is a decent replacement for extravagant money, and other times you can get great deals by shopping around for items that are costly. 

Floors

Wooden floors look great but before you pay an arm and a leg, know that there is no hard data to support that hardwood flooring provides greater resale value to a house than other types of floor coverings. (x) Liz Weintraub, from About's Guide to Home Buying and Selling, says: notably bamboo and Brazilian cherry will provide greater intrinsic value to a home. 

Go Green

It's no surprise that we - and everyone -…

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June 2014 Staten Island Real Estate Market Recap

Initially 248 sale sides back in May 2014 to 303 sale sides last month in June, the real estate market is stepping up.

Staten Island wrapped June up with an average sale price of $438,199. This is an increase from the $410,867 that was brought in May 2014.

Although the average listing to the average sale prices are closer in June 2013. Homes have spent fewer days on the…

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Common Details Buyers Overlook When Viewing A Home

It is easy for home buyers to get caught up in the excitement of buying their perfect home that they miss crucial points that they need to know about the property.

If you are buying a home, make sure that you don’t miss any of these commonly overlooked details:

Do the Appliances Work?

Take the time to test major appliances in the home to ensure they are functioning properly. This is a flaw that is often overlooked in a home inspection. It is a good idea to ask your home inspector to run every appliance through its full cycle to make sure that there are no problems.

How Many Outlets Does the House Have?

In this century, everyone knows the importance and reliance on electonics. When you do a walkthrough of a house, you may not pay mind to the…

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Tom Delese - Recognized As One Of Zillow's Top Real Estate Agents

Earlier this year, Tom Delese received the first Rising Star Award at SIBOR's 2014 Top Producer's Breakfast, Agent Day. Now, Tom Delese is being recognized as one of Zillow's Top Real Estate Agent. We are proud of our friend and fellow real estate salesperson, Tom Delese, on his accomplishments.

'Zillow’s going coast-to-coast shining the spotlight on some of the best agents in cities across the country. These Zillow Premier Agents are successful in their community and have used Zillow to help grow their business.'

Today’s New York, NY agent finds balance in his life by enjoying numerous hobbies outside of his career, including flying remote control aircraft, collecting books, and building wooden train…

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