Luke Constantino

Luke Constantino|February 28th, 2009

So what does the mass public think of Obama's housing stimulus plan? Well, if you're not sure of exactly what the plan entails, here is a quick summary:

The Government bailed out Banks. Automakers, too. So why not bail out those people who can no longer afford their homes?

The rescue plan unveiled Wednesday by Obama offers $75 billion in incentives for banks and investors to reduce struggling home borrowers' interest rates and make other changes to loan terms. The money will come from the second half of the $700 billion federal financial bailout. The goal is to keep 4 million homeowners out of foreclosure and halt free-falling home prices.

Many Republican lawmakers feel that the plan promotes irresponsible borrowing. Rep. Jeb Hensarling, a Texas Republican, summed up the plan as ''nice guys finish last.'' David Brooks, a conservative writer, in a New York Times column titled ''Money for Idiots'' also agrees.

Meanwhile, others feel that it's necessary to help out those people suffering from the housing crisis, even if it does promote bad spending behavior.

If you are among the many that are upset that your taxpayer dollars may be spent largely to rescue people who, for whatever reason, cannot make their mortgage payments, Federal Financial Analytics analyst Karen Shaw Petrou recommends thinking about it this way: "Preventing foreclosures has a lot in common with treating syphilis. In both cases, you help some who are undeserving, but - in an economic collapse or a public-health emergency - one acts nonetheless."

Someone gets a disease, you treat them anyway, regardless of how they got infected. Someone buys a house and takes on a mortgage that deep down they knew they couldn't afford, and the government bails them out.

Is it the same?

The difference, as some will argue, is that when you contract a disease, you're left to deal with the situation on your own - you and your doctor, and the method of payment for medical services. But take on a mortgage that you maybe knew you couldn't afford? Well, apparently the government feels that everyone else should pay for it.

What do you think?

Luke Constantino
Commercial | Residential
RE/MAX at THE SLOPE
Direct: (212) 300-3919 | Fax: (360) 368-0098
http://LukeConstantino.com

BE PREPARED! - What Every Renter Should Know To Step In Front of the Line

Luke Constantino| September 9, 2008

I deal with a lot of buying and selling of property in NYC, but along with that, I also deal with rentals. Renting an apartment can be a pretty big job. Going to different sites on the internet, newspapers and just finding that decent location that coincides with your lifestyle can be very stressing. For me, rentals often bring on new home buyers later on. Here are some of my sure-fire tips on how to get in front of the line and be the best candidate for a rental in NYC:

5 TIPS ON WHAT YOU WILL NEED TO BE THE BEST CANDIDATE:

• Have a credit report ready from all three credit bureaus in hand. This is the most important thing you will need. You don't need perfect credit, but the higher your credit score the better. Anything above 580 is an open door, no questions asked. If a student loan or medical bill has brought your credit score down (and nothing else), you should point this out.

Best credit report: Creditreport.com

• A letter from your employer. A letter from your employer (on the company's letterhead) stating how long you have been employed by that company and anything else that might be useful (Like the "He/she is an exceptional part of our team" statement, etc.).

• Do a "background check" on yourself. I do this on every renter I deal with along with a statewide U.S. Party/Case Index court check. This makes the person you are renting from very comfortable about you.

"Integrascan" background check: http://www.integrascan.com/

• First impressions count! When meeting with the person whom you will be renting from, dress nicely, be on time and bring all the information you have assembled. The bottom line; They want to know who you are on paper and that they are going pay them the rent in a timely manner.

Provide the person who you will be renting from all these assurances and you will move to the front of the line!

Luke Constantino has been a realtor for over 12 years and is currently employed by Remax @ The Slope in NYC. He has also been quoted in the April 08' issue of " Time Out New York" magazine on "How to be the perfect candidate - Tips for renters" along with many other publications.

Featured on NY1:
http://www.ny1.com/content/ny1_living/real_estate/98435/social-networking-sites-a-new-force-in-real-estate/Default.aspx

Luke Constantino
Commercial | Residential
RE/MAX at THE SLOPE
Direct: (212) 300-3919 | Fax: (360) 368-0098
http://LukeConstantino.com

These days the economy is bad, houses aren't selling like they used to and you have to be very diversified to stay on top. We all know advertizing your name and properties you have listed (At fair market value) is key to making money in this market.

I have never teamed up with any Mortgage lending institutions in my years as a Realtor. I usually hang up on them, laugh and watch the majority of them go out of business, but recently, but I found one that has impressed me by being extremely competitive in my market (NYC).We spoke on about sponsoring my advertizing at a high level if they can put a footer on all my stuff and in return, would use their paper for loans.

One of the owners was on the board of Fanny Mae and they have been very competitive with the best lender in my area, so I am going to have them as a parner on my dealings for a while. I think this is a good idea for any Realtor who is an expert in their area and works every angle of real estate (commercial/Residential).

Luke Constantino
Commercial | Residential
RE/MAX at THE SLOPE
Direct: (212) 300-3919 | Fax: (360) 368-0098
http://LukeConstantino.com

THis is my 12th year doing Real Estate and this market is very much a buyers market. Sure I have listings, but the majority of my business is dealing with buyers. They are looking for deals and trust me, they are out there! Anyone selling knows they have to be slightly underpriced and willing to step down at least 10K more.

I have always been proud of the fact that I have alot of listing but this year I havevery few and I'm making more deals. I have never worked with so many buyers! The key to my market here is what I call "Bridge The Gap".

You have a buyer who is overpriced and a buyer who is underbidding: Show the seller what is out there and for how long. Tell him what is selling in his area and for how much. Everyone in this business has heard the term "The seller is the last one to realize they are overpriced". Don't let that be the case! Come in well informed!

If you can do this you will sell this year, I guarantee it!

It's going to be the buyers choice for a while...

Stick it out and get use to it!

Luke Constantino
Commercial | Residential
RE/MAX at THE SLOPE
Direct: (212) 300-3919 | Fax: (360) 368-0098
http://LukeConstantino.com