Nancy Fraser Realtor Massapequa Homes for Sale 516-729-0278

Are you working on a loan modification with your mortgage company ... and wondering where you stand as you face foreclosure? Perhaps you'd like to know more about the benefits of a short sale instead of risking being trapped in your home because you chose a loan modification. You may want to take a look at the benefits of a short sale.



A short sale settlement with your lender means you may not have to worry if the lender will sue you for their loss if they make a deficiency bid at the foreclosure sale.

The lender often forgives the mortgage debt that can't be paid via the short sale. If you are an owner occupant and the loan that is in default was used to acquire or improve the property, there is no tax due to the IRS on the forgiven debt due to a tax moratorium provided under Program 3648.

Borrowers who complete a short sale may be able to buy another home in as little as 2 years according to Fannie May and Freddie Mac guidelines. A Foreclosure or Bankruptcy keeps you on the sidelines for a minimum of 5 years.

Avoid the negative amortization that happens when you continue to be buried under a bad loan. The loan modification is temporary. Your lender will make you pay back any portion of the monthly payments that were deferred which means you will likely never be able to re-finance because the loan value will exceed the value of the property for years and years. 71% of all loan modifications fail in the first year.
Why would anyone willingly stay trapped in an upside-down property with a bad loan?

Call or email me today for help. 516-729-0278 NancyFraser1@gmail.com

Massapequa is a suburb of New York City located in Nassau County on the South Shore of Long Island. It has been reported that Massapequa was one of the thirteen Indian Tribes of Long Island.

There are multiple locations within the town of Massapequa known as the Incorporated Village of Massapequa Park, North Massapequa, Massapequa Shores, Nassau Shores, Biltmore Shores, Harbor Green, Old Harbor Green, New Harbor Green and Bar Harbor. In the southern portion of Massapequa there are many waterfront homes along canals and the bay.

Although the complete town of Massapequa consists of 4 different school districts, it is most noted for its award winning Massapequa school district 23.

Massapequa school district currently has 6 elementary schools Grades K-6:

Unqua, Birch Lane, Fairfield, East Lake, Mckenna, Lockhart

One middle school Grades 7-8

Berner

One High School Annex Grade 9

Ames officially located in Massapequa High School Ames Campus

One High School Grades 10-12

Massapequa High School

Real Estate Massapequa

Here are some of the favorite places to eat in Massapequa, NY

For hamburgers and fries the famous All American located on Merrick Rd, Massapequa, NY

http://allamericanhamburger.us/

For Homemade Ice Cream and Dessert Kirschs located on Central Ave, Massapequa, NY

http://www.krischs.com/

For some spicy hot food, Bid Daddy's located on Front St., Massapequa, NY

http://www.bigdaddysny.com/

For some good old fashioned family style Italian food, Amicis at Cafe Toscano located on Broadway, Massapequa, NY

http://amici.kpsearch.com/df/default.asp

Real Estate Massapequa

Real Estate Amityville

There are presently 224 homes for sale in Massapeuqa and Massapequa Park, school district #23.

Only 5 % of which are bank short sales and less than one percent are REO, bank owned properties.

In the last 6 months there were 155 homes sold in Massapequa and Massapequa Park, school district #23. That makes 8.67 months worth of inventory, which is far better than the approximate average of 15 months worth of inventory as a whole in Nassau County.

Less than 5% were bank short sales and less than 4% were REO, bank owned properties.

In the last 6 months sale prices ranged from $205,000 to $1,350.00.

Average days on the market were 83.

That leaves Massapequa Real Estate a promising place to be Selling or Buying in todays market.

Research shows that most home buyers understand very little about whom their agents represent and its vital importance. While State law requires agents to disclose whose side they are on, most required disclosures are woefully inadequate, poorly explained, glossed over, minimized, and downright confusing. A growing number of brokers represent only the buyer, which is known as Buyer Brokerage or Exclusive Buyer Representation.

1. SELLER AGENTS- list property and represent the seller through a signed contract. Remember that if you are buying a home and call the listing agent, it is the legal obligation of that agent to get the highest price and best terms for the seller. Any information given by a prospective home buyer to the seller's agent must be told to the sellers. This includes any reference to the buyer's financial and personal data, potentially increasing the cost of the home by thousands of dollars.

2. DUAL AGENTS - are real estate agents whose company lists property for sale, but act as buyer agents on those properties. Unfortunately, for buyers and sellers, dual agents are legal in most states. While dual agents attempt to justify this practice, consumer advocates warn NEVER to use a dual agent. The National Association of Realtors wrote that the practice of dual agency is as dangerous as playing Russian Roulette. If a real estate company lists property and represents the seller--you can strongly doubt any attempted claim that their agents can properly represent home buyers. Funny how some folks like the CIA do not like dual agents, because they know them as "double agents!"

3. BUYER AGENTS-- represent home buyers through a signed contract. This contract is to protect you the buyer and the commission of the agent, which is negotiated with the seller. These agents are required by law to get the best price and best terms for the Home buyer. All consumer advocates recommend that homebuyers take advantage of the benefits offered by exclusive buyer agents. Buyer agents are specialists in the home buying process. This higher level of professional service for buyers has resulted in an average of over 5% savings and greater satisfaction for home buyers. All homes are available to home buyers without bias, including For Sale By Owner, New Build Construction by home builders, and Multiple Listing Service homes (other Realtor listings). Buyer Brokers will better protect the interests of buyers than dual agents, sub-agents, designated agents, or so called split agents. They are more likely to negotiate a lower sale price on a home, for example.

Remember that while buyers and sellers need not be adversarial in actions and attitude, their personal interests are adverse. Buyers want the lowest price and best terms, and sellers want the highest price and best terms. Buyer Brokers do not make wild claims that they will save a client $100,000 on their next home purchase. Buyer Brokers negotiate for their clients without any chance of real or perceived conflicts of interest. You would not expect less from your doctor, accountant, or attorney, so why potentially settle for less on the biggest financial transaction of your life?

In reality, if you could fly first class for the same price as coach, you would choose first class. By hiring me as your Buyer Agent, you are choosing first class at no additional cost.

Any questions feel free to call me @ 516-729-0278