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Staten Island's real estate market sees its best month since June 2010

Posted by Anthony Licciardello on July 18th, 2013

Staten Island's Housing Market grows at a robust pace, only bested by tax credit month of June 2010. However, with higher mortgage interest rates, the housing market is likely to cool off a bit in the following months. 

In the past few months, we saw some pretty incredible numbers in the housing market—and this past month was no different. With the numbers from this past June, we can definitely see an improvement in the market.

First, let’s take a look at the monthly sales. Two hundred and ninety-five homes were sold this past June. This is astonishing, since it’s an increase of almost fourteen percent from May to June, and an increase of about nineteen percent from the prior year. It seems like we’re quoting ourselves month after month, but really,…

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May's Staten Island real estate market heats up a cool month.

Posted by Anthony Licciardello on June 17th, 2013

May's cool weather wasn't enough to cool Staten Island's consistently warming real estate market. 

It looks as though our assumption was correct. Just like the prior month, the sales for the month of May hit way over the 200 mark—something that, like last April, hasn’t been seen in the same month since 2008, when May had 250 monthly sales. This May surpassed even that number by four, with 254 total sales. This may not seem like much, with an increase of only about 1.6%, but it’s definitely better than May of 2012 and 2011, where we saw 188 and 168 home sales, respectively. As we can see, the monthly sales for May have been on an upward trend since 2011, but just by comparing this past May’s sales with the prior year, we see an increase of over…

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Upbeat news on Staten Island housing market

Posted by Anthony Licciardello on May 17th, 2013

April hasn’t seen more than 200 residential home sales since 2008, when 214 homes were sold. Even still, this past April marks the most the month has seen in years, with 237 homes being sold—well over that of April 2008. This was over a thirty percent increase from this past March, which ended up having 182 sales. This is a big difference—a difference of fifty-five homes, to be exact. It was also almost a forty-five percent increase from the prior April, in 2012, which left off with 164 sales.

Over the past four years, 10,462 homes have been sold. The homes sold in the past twelve months, which amount to 2,680, make up a little more than a quarter of these total sales. This is the highest number of sales in a twelve-month span since the year beginning…

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April's real estate market report for Staten Island.

Posted by Anthony Licciardello on April 11th, 2013

If you take a look at the residential sales over the months following Hurricane Sandy, you can see that the storm definitely had an impact on the amount of homes being sold.  In November of 2012, home sales had dropped almost 15%.  The next month seemed to make up for the lack of homes being sold, with 244 home sales-an increase of over 34%.

 

After December, however, there seemed to be a steady decline in the number of homes being sold.  By March of 2013, that steady decline showed up at 20% from the beginning of the year, with only 179 homes being sold. However, this seems to be rather normal for the number of homes being sold in March, though that number has been steadily decreasing over the past four years.

 

 

Looking back at the data from…

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A look back Staten Island's Real Estate Market in 2012

Posted by Anthony Licciardello on February 11th, 2013

When you look at the numbers, one thing has become clear: the real estate market locally has stabilized after 5+ years of some of the most tumultuous times in American history.  By no means was it an easy go of it locally-especially after Hurricane Sandy made it to our shoreline back in October of last year.

The impacts of the hurricane were clearly evidenced in home sale numbers for this past November, a month after the storm.  With just 182 home sales, it was a drop of over 14% from the prior month, and a whopping 33% from a year prior.  However, a brighter side emerged after the storm, rebounding a little over 32% in December.

All in all, it was enough to put the market as a whole above 2011 in many facets and it's the first time the market has…

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Mortgage help for Hurricane Sandy victims with a Fannie Mae, Freddie Mac, or HUD backed loan.

Posted by Anthony Licciardello on November 8th, 2012

Assistance with federally backed home mortgages announced.

If you have fallen victim to Hurricane Sandy and have a mortgage loan that is backed by Fannie Mae, Freddie Mac, or the Department of Housing and Urban Development (HUD) there may be help for you.These three programs have put together some ways of helping you with your mortgage while you repair or replace your home, due to the damage from Hurricane Sandy.

For those of you who have a Freddie Mac backed mortgage, here are some options they are putting out for you, but it is case-by-case. Freddie Mac is waiving late fees and penalties and will either bring down the amount of your payment or let you not pay it for up to 12 months. They will put off the foreclosure of your home or the eviction…

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Hurricane Sandy Casualty Tax Deduction: The Basics

Posted by Anthony Licciardello on November 8th, 2012

If your property received an extensive amount of damage due to Hurricane Sandy, you may qualify for the Casualty Tax Deduction. I know, it sounds great, right?  Well, as with most good things, there's a catch. There's a lot of work that goes into the process and there are limitations.

According to the Internal Revenue Service, "a casualty is the damage, destruction, or loss of property resulting from an identifiable event that is sudden, unexpected, or unusual." Included among these events are earthquakes, floods, mine cave-ins, sonic booms, storms, and vandalism.

There are two types of casualties: those which occurred in a federally declared disaster area and those which did not. The State of New York was declared by the president as a disaster area.…

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What is covered under Standard Homeowners Insurance vs. FEMA Flood Insurance?

Posted by Anthony Licciardello on November 8th, 2012

Homeowners insurance policies come in all types of packages and have different coverages. Since there are different packages and policy types, we are going to show you what the standard homeowners insurance covers. (This is not a full list of coverage; check your own policy to see what is covered.)

Standard homeowners insurance should cover:

• Fire, lightning, windstorm, hurricane, hail, weight of snow or ice, falling objects, and vehicle or aircraft damage to your home

• Burglary, theft, vandalism, malicious mischief, and glass breakage

•Explosion, riot commotion, and civil commotion

• Water from or freezing of plumbing systems, electrical damage to appliances, electrical wiring, and water heaters or heating system breaks

• Detached garages,…

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FEMA Temporary Housing On Staten Island: How and who to qualifies.

Posted by Anthony Licciardello on November 5th, 2012

On Saturday, October 29th, President Obama signed a Major Disaster Declaration for New York in Hurricane Sandy's aftermath.  In order to assist those whose homes were damaged from Hurricane Sandy, the Federal Emergency Management Agency is willing to provide these victims with temporary housing.

To qualify for assistance:

• Your property must not be covered by your insurance
• You or someone you live with must be a citizen of the United States, a non-citizen national, or a qualified alien
• The damaged home must be your primary residence or the residence in which you reside for the majority of the year
• You must not be able to reside in your home at the present

Normally, you will not qualify for disaster assistance if you have insurance. …

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Almost new Staten Island Side Hall Colonial in Huguenot sees price reduction.

Posted by Anthony Licciardello on March 10th, 2012

We have written about this house a few times now, but it seems nobody has grasped just how wonderful it is. A few months ago, we informed you of a price reduction on 44 Comfort Court, making is $639,000. It must not have been correctly updated to the website, though, since nobody could see how much of a bargain that was. Well now, the price has been reduced to $599,000. If there's anything better than a bargain, this is it.

You've heard the story: it's a Side-Hall Colonial in the neighborhood of Huguenot. Perhaps we didn't emphasize the grandness of this house, though. 44 Comfort Court is located on a private cul-de-sac, just off of Amboy Road.  The location of the house is possibly as wonderful as the house, itself.  You're right by a number of places…

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